Global asset management and alternatives investing leader to join world’s largest natural capital investment manager March 4
TORONTO, Feb. 6, 2024 /CNW/ – Manulife Investment Management (Manulife IM), the global asset manager serving 17 million investors, today has announced Anne Valentine Andrews will join the firm on March 4 as Global Head of Private Markets.
Anne Valentine Andrews, Global Head of Private Markets, Manulife Investment Management (CNW Group/Manulife Investment Management)
With more than 25 years of asset management and alternatives experience, Ms. Valentine Andrews will lead all investment teams and direct the overall strategy, business development and growth of Manulife IM’s private markets business. She and her team will also work closely with the firm’s global product group and the business leads to drive private market product innovation across the Institutional, Retail and Retirement channels. Based in New York, Ms. Valentine Andrews will report to Paul Lorentz, President and CEO of Manulife IM.
“We are excited to welcome Anne to our firm given her expertise and deep alternatives background,” said Mr. Lorentz. “We are confident that her leadership will accelerate the growth of our private markets platform and deliver more for our clients. Individual and institutional investors alike are demanding broader access to private markets to strengthen their portfolios, find diverse sources of alpha, and achieve their investment goals. We’re committed to the continued expansion of our global private markets platform to help our clients pursue attractive opportunities for long-term returns.”
Ms. Valentine Andrews joins Manulife IM from BlackRock, where she spent the past nine years, most recently serving as Managing Director, Global Head of Infrastructure and Real Estate. Under her leadership, BlackRock became a top 10 infrastructure manager and top 50 real estate manager by AUM. At BlackRock, Ms. Valentine Andrews served on its Global Operating Committee, Human Capital Committee, and the Equity Private Markets Executive Committee. Prior to BlackRock, she was Co-Head and Chief Operating Officer for the Morgan Stanley Infrastructure platform and worked at Macquarie Bank in both Melbourne and New York. In addition to her strong business and commercial acumen, Ms. Valentine Andrews is an avid supporter of diversity, equity, and inclusion initiatives and promoting women in the financial services industry.
“I’m delighted to join Manulife Investment Management to lead private markets globally,” said Ms. Valentine Andrews. “The firm has over a century of strong history from its roots as an insurer and has a foundation of world-class investment performance, risk management, sustainability, and client-centricity. Manulife IM’s ability to manage alternative assets for clients and within its insurance platform allows for additional scale that can create exciting product development initiatives and co-investment opportunities. I look forward to working alongside the team to continue delivering for clients and to accelerate the growth this platform is uniquely poised to capture.”
Manulife IM and its general account currently manage approximately $120 billion USD of private markets assets1, such as private equity, private credit, infrastructure, real estate, timberland, and agriculture, and was recently recognized as the world’s largest natural capital investment manager.2
About Manulife Investment Management
Manulife Investment Management is the brand for the global wealth and asset management segment of Manulife Financial Corporation. Our mission is to make decisions easier and lives better by empowering investors for a better tomorrow. Serving more than 17 million individuals, institutions, and retirement plan members, we believe our global reach, complementary businesses, and the strength of our parent company position us to help investors capitalize on today’s emerging global trends. We provide our clients access to public and private investment solutions across equities, fixed income, multi-asset, alternative, and sustainability-linked strategies, such as natural capital, to help them make more informed financial decisions and achieve their investment objectives. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.
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1 As of Sept. 30, 2023.
2 IPE research as of 1/29/2024. Ranking is based on total Natural Capital AUM, which includes forestry/timberland and agriculture/farmland AUM. Firms were asked to provide AUM and the as of dates vary from 12/31/2022 – 12/31/2023.
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TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
