John Hancock Reduces Fees on Five Mutual Funds
BOSTON, June 5, 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:
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 Funds
The 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
Contact: Beth McGoldrick, (617) 663-4751, firstname.lastname@example.org
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