Press release from PR Newswire
John Hancock Funds Changes its Name to John Hancock Investments
Wednesday, September 04, 2013
John Hancock Funds Changes its Name to John Hancock Investments10:46 EDT Wednesday, September 04, 2013
-- Reflects role as an asset manager with a unique investment model
-- Highlights diverse product mix and plans for future growth
BOSTON, Sept. 4, 2013 /PRNewswire/ -- John Hancock Funds today announced that it has changed its name to John Hancock Investments, a move designed to reflect its role as an asset manager with a unique investment model, and also to highlight a product mix encompassing a range of investments beyond mutual funds. The change is effective immediately. The new name applies only to the former John Hancock Funds, and not to parent company John Hancock Financial, a division of Toronto-based Manulife Financial.
"As an asset manager, we are focused on investing for our shareholders," said Andrew G. Arnott, President & CEO, John Hancock Investments. "Moreover, as an independent and well-resourced investment advisor, we approach investing differently from our peers. Our 'manager of managers' structure allows us to develop funds based on investor need, and then search the industry to find portfolio management teams with what we believe to be the best skill set, track record, and experience to manage those funds. We look for managers with a consistent and repeatable process who are focused on risk and on delivering competitive returns on a risk-adjusted basis. "
John Hancock Investments offers access to 73 individual portfolio teams managing 112 distinct strategies, all guided by vigorous investment oversight and a commitment to personalized service. The teams include both the portfolio management teams from John Hancock Asset Management, and those from specialized asset managers around the world.
"Our model allows us to be highly selective as to whom we hire to manage each portfolio, and we conduct more than 250 due diligence meetings each year to identify managers," said Mr. Arnott. "As one of the longest-tenured manager of managers, we have a team of analysts who monitor all of our portfolios on a daily basis. Additionally, we conduct more than 100 in-person meetings each year with our existing managers."
As of July 31, 2013, John Hancock Investments offered 24 Four- or Five-Star Class A load-waived Morningstar rated mutual funds. At the 2013 Lipper Awards, six John Hancock mutual funds were honored for long-term performance.
"Our new name ? John Hancock Investments ? now reflects the broader array of products we already offer and anticipates future product offerings and growth," he said.
John Hancock Investments manages approximately $100 billion in assets for a diverse set of individual and institutional clients (as of June 30, 2013). John Hancock Investments offers and administers open-end funds, closed-end funds, 529 College Savings plans, investment-only portfolios and retirement plans for individual and institutional investors.
Earlier this year, John Hancock Mutual Funds reduced fees and/or added new breakpoints on five mutual funds: John Hancock Classic Value Fund (Class A: PZFVX), John Hancock U.S. Global Leaders Growth Fund (Class A: USGLX), John Hancock Alternative Asset Allocation Fund (Class A: JAAAX), John Hancock Global Absolute Return Strategies Fund (Class A: JHAAX) and John Hancock Sovereign Investors Fund (Class A: SOVIX).
"With these new fee schedules and others in the works over the near term, John Hancock is delivering on our commitment to drive higher investment value for our shareholders," Mr. Arnott said.
John Hancock Investments has experienced strong sales success, as noted in Manulife Financial's second quarter 2013 earnings results. John Hancock Investments' second quarter sales in 2013 reached the highest-ever level of $6.4 billion, more than doubling year-earlier results. Year to date (as of June 30, 2013), sales for John Hancock Investments have exceeded $11.8 billion.
John Hancock began offering mutual funds to investors in 1969.
About John Hancock Investments
John Hancock Investments provides asset management services to individuals and institutions through a unique manager-of-managers approach. We combine unbiased asset management with vigorous investment oversight to offer investors a deeper level of diversification and proven results across asset classes. A wealth management business of John Hancock Financial, we managed nearly $100 billion in assets as of June 30, 2013, across mutual funds, college savings plans, and retirement plans.
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$567billion (US$539 billion) as at June 30, 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, fixed products, 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.
A fund's investment objectives, risks, charges and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. Please read the prospectus carefully before investing or sending money.
John Hancock Funds, LLC Member FINRA/SIPC
SOURCE John Hancock Investments
For further information: Beth McGoldrick, (617) 663-4751, email@example.com