John Hancock Investments today announced another sweeping package of expense reductions
OREANDA-NEWS. John Hancock Investments today announced another sweeping package of expense reductions aimed at providing cost savings to investors in its suite of target-date Retirement Living Portfolios, as well as in four popular mutual funds. Together, these funds represent more than $14.4 billion in assets as of June 30, 2016, across multiple asset categories.
"At John Hancock Investments, we remain intensely focused on expenses and on ensuring that our funds are cost-effective for investors. That is an important facet of our goal of maximizing the value we provide our mutual fund shareholders," said Andrew G. Arnott, president and CEO of John Hancock Investments. "Investors and financial advisors have embraced our unique manager-of-managers approach because they value the more than 25 years’ experience in manager research and oversight we put into every one of our funds. Our assets under management have grown as a result, and we’re pleased that our growth is enabling us to share those greater economies of scale with our investors."
The expense reductions and new breakpoint schedule cover:
- John Hancock Retirement Living Portfolios—9 basis point reduction on all share classes across the suite
- John Hancock Enduring Assets Fund—30 basis point reduction on all share classes
- John Hancock Investment Grade Bond Fund—8 basis point reduction on all share classes
- John Hancock Strategic Income Opportunities Fund—Additional breakpoints added to the fund’s expense schedule to help shareholders benefit from lower costs as the fund grows
- John Hancock Value Equity Fund—9 basis point reduction on all share classes
Additional details of these new expense reductions and breakpoint schedule can be found in the funds’ and portfolios’ latest prospectuses.
The move marks the firm’s fifth set of expense reductions in the past four years—affecting more than 30 funds—including a 20 to 26 basis point (100 basis points equals one percentage point) reduction in 2014 for John Hancock Retirement Living Portfolios, the company’s premier target-date suite and a qualified default investment option in many retirement plans.
About John Hancock Investments
John Hancock has helped individuals and institutions build and protect wealth since 1862. Today, we are one of America’s strongest and most-recognized brands. As a manager of managers, John Hancock Investments searches the world to find proven portfolio teams with specialized expertise for every fund we offer, then we apply vigorous investment oversight to ensure they continue to meet our uncompromising standards and serve the best interests of our shareholders. Our unique approach to asset management has led to a diverse set of investments deeply rooted in investor needs, along with strong risk-adjusted returns across asset classes.
About John Hancock Financial and Manulife
John Hancock Financial is a division of Manulife, a leading Canada-based financial services group with principal operations in Asia, Canada, and the United States. Operating as Manulife in Canada and Asia, and primarily as John Hancock in the United States, our group of companies offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents, and distribution partners. Assets under management and administration by Manulife and its subsidiaries were C$904 billion (US$676 billion) as of March 31, 2016. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK.
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