Changing of the portfolio management guard

by Donald Horne15 Jan 2016
Manulife Investments announced that Susan Da Sie will assume key portfolio management responsibilities for the Manulife Asset Management Canadian Fundamental Equity Team's income-oriented strategies, as Walter McCormick retires from the Manulife U.S. Core Value Equity Team.

Da Sie, who is the Senior Managing Director and Senior Portfolio Manager at Manulife, will assume portfolio management responsibilities for no less than nine different funds, succeeding Marie-Eve Savard, who is leaving the company at the end of February.

“We would like to thank Marie-Eve for the dedication and high degree of professionalism she has brought to her team and to her mandate,” said Derek Saliba, assistant vice president, mutual funds product, Manulife Investments. “Susan's experience leading this team and her previous role as head of the equity team at the former Standard Life Investments Inc. will ensure a smooth transition for all involved.”

According to Manulife, the investment philosophy of the funds will not change.

Da Sie will partner with Steven Belisle, senior portfolio manager, equities, who currently co-manages these funds.

Da Sie joined Manulife Asset Management when Standard Life's Canadian operations were acquired by Manulife in January of last year. Da Sie joined the former Standard Life Investments Inc. in 2007 as a Vice-President with the Equity Team, and has 31 years of investment experience. 

The fixed income portion of Manulife Canadian Monthly Income Fund, Manulife Canadian Monthly Income Class, Manulife Conservative Income Fund and Manulife Tactical Income Fund will continue to be managed by Jean-Pierre D'Agnillo, Managing Director, Canadian Fixed Income and Terry Carr, Head of Canadian Fixed Income.

Walter McCormick, senior managing director and senior portfolio manager, Manulife Asset Management (US) LLC, will be retiring on March 31, having been with Manulife Asset Management since 2010.

“Walter has co-led the Manulife Asset Management U.S. Core Value Equity Team with Sandy Sanders and has delivered strong returns for our investors,” said Chris Conkey, global chief investment officer, Manulife Asset Management. “We anticipate a seamless transition given the depth of the team's experience.”

The Manulife U.S. Core Value Equity team currently consists of six experienced portfolio managers and three analysts. This well-resourced team employs a repeatable fundamental investment process that has delivered consistent long-term results over various market cycles since inception.

“Walter has had an exceptional career, and we wish him all the best in his retirement,” said Derek Saliba. “Walter helped us forge this team and their funds into one of the key brands of our mutual fund business and the team's success will continue given Sandy's proven leadership and the team's high standards.”