Press release from PR Newswire
John Hancock Reduces Fees on Five Mutual Funds
Wednesday, June 05, 2013
John Hancock Reduces Fees on Five Mutual Funds10:00 EDT Wednesday, June 05, 2013
BOSTON, June 5, 2013 /PRNewswire/ -- John Hancock has implemented new breakpoints for three mutual funds and lower expense caps for two funds, across a range of asset classes. Three of the funds implemented new breakpoint schedules effective June 1, 2013, while two funds reduced expenses last year. Additional details are available in the funds' prospectuses.
"We are a steward of our shareholders' capital and we put our investors' interests first. With these new fee schedules and others in the works over the near term, John Hancock is delivering on our commitment to driving higher investment value for our shareholders," said Andrew G. Arnott, President & CEO of John Hancock Funds.
New fee schedules became effective June 1, 2013 for John Hancock Classic Value Fund (Class A: PZFVX), John Hancock U.S. Global Leaders Growth Fund (Class A: USGLX), and John Hancock Alternative Asset Allocation Fund (Class A: JAAAX).
John Hancock Classic Value Fund reduced its advisory fee rate by four basis points across all breakpoints, which investors will realize immediately. John Hancock U.S. Global Leaders Growth Fund has added two new breakpoints to the advisory fee schedule. John Hancock Alternative Asset Allocation Fund, which previously did not offer breakpoints on the advisory fee schedule, also implemented two new breakpoints. For these latter two funds, investors will realize an expense reduction from the new breakpoints as fund assets increase.
Previously, in 2012, John Hancock Funds implemented a lower expense cap on John Hancock Core High Yield Fund (Class A: JYIAX), which resulted in a total expense reduction of six basis points. John Hancock Government Income Fund (Class A: JHGIX) also instituted a lower expense cap in 2012, reducing advisory fees by eight basis points.
About John Hancock FundsThe Boston-based mutual fund business unit of John Hancock Financial, John Hancock Funds is a world-class provider of asset management solutions, utilizing a unique best of breed, "manager of managers" model with an asset allocation mindset. We partner with affiliated and non-affiliated asset managers from around the world through objective manager selection and diligent oversight. John Hancock Funds manages open-end funds, closed-end funds, college savings assets, retirement plans and related party assets for individual and institutional investors.
About John Hancock Financial and Manulife Financial John Hancock Financial is a division of Manulife Financial, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife Financial in Canada and Asia, and primarily as John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were C$555 billion (US$547 billion) as at March 31, 2013. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at manulife.com.
The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers and administers a broad range of financial products, including life insurance, annuities, mutual funds, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at johnhancock.com.
SOURCE John Hancock Funds
For further information: Beth McGoldrick, (617) 663-4751, firstname.lastname@example.org