Deals & People January 8, 2007

End of the Road for SSGA’s streetTRACKS

The investment management arm of State Street Global Corporation is rebranding its exchange-traded funds (ETFs), ending the streetTRACKS label and consolidating under the SPDR brand, in an effort to bring more clarity to investors.
Reported by
According to a press release from State Street, each listed ETF will begin with “SPDR.” but will keep the same ticker symbol. Research by State Street showed that consolidating its ETF products under the “SPDR” name, rebranding its Web site (www.spdretfs.com), and introducing a new logo featuring a redesigned version of the brand’s mark would present a more discernible suite of products.

The brand change will occur in phases, beginning Monday and continuing throughout the year.

A chart detailing the fund rebranding and new fund names can be found here.

In October 2006, State Street Global Advisors’ US assets under management in ETFs topped $100 billion for the first time – up from $75 billion year over year, the company said. At year-end 2006, the firm managed approximately $102 billion across 43 ETFs domestic ($113 billion and 67 worldwide).
The Markets January 8, 2007

John Hancock Offers Advisers Two New Fund of Funds

John Hancock Funds has announced the launch of two new fund of funds products available to retail investors through their financial advisers: the John Hancock International Allocation Portfolio and the John Hancock Lifecycle Portfolios.
Reported by
According to a news release, the John Hancock International Allocation Portfolio invests in international equity funds and offers geographical diversification across the investment style and market capitalization spectrums. The International Allocation Portfolio offers investors management capabilities of firms such as Templeton Global Advisors Limited; Grantham, Mayo, Van Otterloo & Co. LLC; Marsico Capital Management, LLC; Pzena Investment Management, LLC; Dimensional Fund Advisers; and MFC Global Investment Management (U.S.A.) Limited.

The John Hancock Lifecycle Portfolios are comprised of a series of eight target-date mutual funds, plus a Retirement Portfolio that investors can choose based on their projected target date of retirement, the news release said. The eight target-date funds are:
  • John Hancock Lifecycle 2045 Portfolio,
  • John Hancock Lifecycle 2040 Portfolio,
  • John Hancock Lifecycle 2035 Portfolio,
  • John Hancock Lifecycle 2030 Portfolio,
  • John Hancock Lifecycle 2025 Portfolio,
  • John Hancock Lifecycle 2020 Portfolio,
  • John Hancock Lifecycle 2015 Portfolio, and
  • John Hancock Lifecycle 2010 Portfolio.
The John Hancock Retirement Portfolio is the option for investors who are already in retirement and employs active allocation and varying amounts of equity exposure to provide investment stability throughout retirement. The goal of the portfolio is to maintain a low probability of negative returns in any 12-month period, allowing investors to maintain a regular withdrawal rate over time.

More information can be found at www.jhfunds.com.

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