Fixed income specialist Cheng Duan Pang has left Manulife Asset Management (Singapore), Citywire Asia can reveal.
The Citywire + rated head of fixed income, who ran the Manulife Singapore Bond fund, left the asset manager after four years on May 30, a spokesperson confirmed.
Endre Pedersen, senior managing director - Asian fixed income, took on management of the Singapore fixed income team on June 1, the spokesperson added.
In addition, the spokesperson said that Luc Froehlich, senior director - Asian fixed income, has taken over Cheng Duan’s portfolio as well as institutional mandate management responsibilities.
Froehlich is also the lead manager of the Manulife Singapore Bond fund and Manulife Singapore Money Market fund in addition to supporting the company's Asia fixed income strategies. He has 11 years of fixed income experience and is focused on US-dollar denominated and high-yield bonds.
Manulife Asset Management has over 50 fixed income professionals located across 10 markets in Asia, managing $44 billion in assets as at the end of March 2014.