Manulife launches multi-asset credit fund in partnership with CQS investment management

Manulife Investments announced the launch of the Manulife CQS Multi Asset Credit Fund, managed by its affiliated adviser Manulife | CQS Investment Management, a London-based alternative credit specialist with over 20 years of experience.

The fund aims to generate income and capital growth by investing primarily in credit-related instruments issued by global companies. It will focus on a mix of traditional and alternative fixed income assets within developed markets, using a mutual fund structure. Investments will include corporate bonds, asset-backed securities, loans, and convertible bonds, with the flexibility to adjust allocations dynamically. The investment process incorporates risk management through diversification and efforts to reduce default risk.

The launch follows Manulife’s recent agreement to acquire a 75% stake in Comvest Credit Partners for $937.5 million in cash. The acquisition, expected to close in the fourth quarter, will create a private credit platform with $18.4 billion in assets under management.

Kristie Feinberg, global head of Retail at Manulife Wealth & Asset Management, said the launch expands the company’s liquid and semi-liquid alternatives platform to address investor demand for diversification and income in volatile markets. Feinberg noted this is Manulife’s first fund launch in Canada in partnership with the Manulife | CQS team and positioned it as a long-term option for portfolio needs.

Soraya Chabarek, president and CEO of Manulife | CQS Investment Management, stated the fund seeks to deliver income levels similar to high-yield bonds while managing risk and preserving capital. She described the team’s decade-long collaboration and their fundamental credit research approach to lending and positioning across asset classes, regions, and sectors to support income-focused returns.

The fund will be managed primarily by Craig Scordellis, co-chief investment officer; James Fitzpatrick, head of global loans; and Darren Toner, senior portfolio manager.

Jordy Chilcott, head of Retail Intermediary Distribution, Canada, Manulife Investments, highlighted the fund’s potential to provide a steady income stream amid inflation, interest rate concerns, and market uncertainties. Chilcott said the fund’s global scope allows investors to access relative value opportunities beyond domestic markets and may improve portfolio resilience through diversification.

Manulife | CQS Investment Management was formed after Manulife’s 2024 acquisition of CQS’s alternative credit platform. CQS founder Lord Michael Hintze retained his hedge fund and other mandates. The firm’s capabilities cover corporate credit including loans and bonds, asset-backed securities, regulatory capital, collateralized loan obligations, and convertible bonds, supported by over two decades of managing research-driven credit strategies across market cycles.