MANULIFE China Bank Life Assurance Corp. , the bancassurance partnership of Manulife Philippines and China Banking Corp., recently launched the MCBL China Bank Dollar Fixed Income Variable Unit-linked (VUL) Fund—a financial product that combines insurance coverage and investment yields.
The VUL 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.
“Insurance and wealth products go hand in hand to give customers the protection they need to grow their investments through professionally managed funds,” said Ryan Charland, president and CEO of Manulife Philippines. “The launch of this new fund further strengthens our partnership with China Bank as we work together to help more Filipinos make easier decisions and live better.”
This is the first in the fund suite of MCBL that is managed by the China Bank Trust and Asset Management Group.
“Our group of seasoned fund managers will make sure to apply effective strategies to optimize the growth of our customers’ investments,” said William Whang, president and CEO of China Bank. “We are dedicated to working closely with MCBL to create more custom-fit financial solutions for Filipinos.”
As of 2017 China Bank ranked sixth-largest in the trust industry, managing nine Unit Investment Trust Funds and handling P132 billion in total assets under management. Three of China Bank’s UITFs ranked No.1 in their respective categories for year-on-year returns, while its dollar fund was named by the CFA Society Philippines as the Best Managed Fund of 2016 and 2017 in the dollar long-term bond category.