Manulife reports record total assets

Manulife Financial Corporation reported higher earnings in its Q1 results on Thursday, with the company for the first time exceeding $1 trillion in total assets under management and administration. For the quarter ended March 31, common shareholders’ net income was $1.35 billion, up from $1.05 billion in the same period a year earlier. Global AUM […]

By Staff | May 4, 2017 | Last updated on May 4, 2017

1 min read

Manulife Financial Corporation reported higher earnings in its Q1 results on Thursday, with the company for the first time exceeding $1 trillion in total assets under management and administration.

For the quarter ended March 31, common shareholders’ net income was $1.35 billion, up from $1.05 billion in the same period a year earlier.

Global AUM and AUA exceeded $1 trillion, up from $904 billion in the same quarter a year earlier, the company said.

“We were pleased with how our operations around the world performed; and our key growth drivers, Asia and wealth and asset management, once again delivered excellent results,” Donald Guloien, chief executive, said in a statement.

Its wealth and asset management division generated positive net flows of $4.3 billion in the quarter, up from $1.7 billion a year earlier.

The company said its U.S. mutual funds and pensions businesses returned to positive net flows following recently negative net flows.

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