Manulife Investment Management and ClearView Wealth have signed a memorandum of understanding (MOU) to collaborate on the development of investment solutions for the Australian market.
The strategic partnership aims to deliver a range of wealth management and retirement income solutions to retail investors.
The firms’ immediate focus will be to co-develop a range of retirement income solutions for members in the deaccumulation stage.
Simon Swanson, ClearView managing director, said: “ClearView is continuously looking for opportunities to serve our customers and advisers better. With a rapidly growing number of Australians in or nearing retirement, it is critical they have access to products that help them manage their drawdowns.
“We are excited to partner with one of the world’s leading asset managers to come up with solutions for Australia’s large pre-retiree and retiree market. In addition, we aim to leverage Manulife Investment Management’s broader capabilities in other areas to support our plans to implement liability-driven investments and increase exposure in Asian, ESG and private asset strategies.”
Michael Dommermuth, Manulife Investment Management head of wealth and asset management, Asia, said: “Innovative solutions such as liability-driven investment and income-orientated strategies are playing an increasingly important role in aiding investors around the world to generate a stable income in retirement.
“Similarly, in Australia, there is a clear need for effective retirement income solutions to help more people achieve their retirement goals.”