Manulife-China Bank tie-up launches new fund

Manulife China Bank Life Assurance Corp. (MCBL) has launched a financial product that combines insurance coverage and investment yields.

The bancassurance partnership of Manulife Philippines and China Banking Corp. recently launched the MCBL China Bank Dollar Fixed Income Variable Unit-linked (VUL) fund that features earning potential that may not be offered in a traditional life insurance product as the policy value is linked to investment funds and reflects their performance.

Like a mutual fund, the VUL provides full- time professional fund management combined with the benefits of diversification, allowing customers to invest in fixed income securities or bonds issued by the Philippine government.

The new fund is available as an option for any MCBL Single Premium VUL product.

Manulife Philippines president and CEO Ryan Charland said the launch of the new fund further strengthens the company’s partnership with China Bank to work together to help more Filipinos make easier decisions and live better.

“Insurance and wealth products go hand-in-hand to give customers the protection they need to grow their investments through professionally managed funds,” Charland said.

This is the first in the fund suite of MCBL that is managed by the China Bank Trust and Asset Management Group.

William Whang, president and CEO of China Bank, said a group of seasoned fund managers would make sure to apply effective strategies to optimize the growth of customers’ investments.

“We are dedicated to working closely with MCBL to create more customfit financial solutions for Filipinos,” Whang said.

As of 2017, China Bank ranked 6th largest in the trust industry, managing nine unit investment trust funds (UITFs) and handling P132 billion in total assets under management.