Products September 4, 2013

John Hancock Funds Changes Name

John Hancock Funds changed its name to John Hancock Investments.

Reported by

The company said the move is designed to reflect its role as an asset manager with a unique investment model, and 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.

John Hancock Investments manages approximately $100 billion in assets for a diverse set of individual and institutional clients (as of June 30). It offers and administers open-end funds, closed-end funds, 529 College Savings plans, investment-only portfolios and retirement plans for individual and institutional investors.

Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news. 

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).

“Our new name—John Hancock Investments—now reflects the broader array of products we already offer and anticipates future product offerings and growth,” said Andrew G. Arnott, president & CEO of John Hancock Investments.

Data & Research September 4, 2013

Gen Y Acting on Hard Lessons Learned

While generations of consumers learned important lessons following the 2008 financial crisis, a survey finds Gen Yers have learned more and have taken the most positive actions post-crisis.

Reported by

PLANADVISER Staff

The study by Fidelity Investments, which examines the attitudes and behaviors of investors since the financial crisis began five years ago, reveals 81% of Gen Y (born between 1981 and 1988) now consider themselves more knowledgeable about their finances, compared to 66% of older generations. In addition, when it comes to confidence levels, Gen Y is faring better: 55% of Gen Y versus 47% of older generations feel more confident as investors. Additionally, 64% of Gen Y versus 54% of their elders now save more systematically.

“While the crisis served as a wake-up call for investors of all ages, this study found Gen Y may have experienced the most positive change,” said John Sweeney, executive vice president of Retirement and Investment Strategies at Fidelity Investments. “Gen Y remains surprisingly confident despite suffering investment losses, and especially given that many also saw the impact the crisis had on their parents, who were approaching or in retirement. Rather than overreacting, Gen Y has taken a more deliberate approach to their finances, recognizing the need to assume control of their spending and investing habits, and showing a willingness to do things differently. These are important factors when it comes to weathering any financial challenge.”

For more stories like this, sign up for the PLANADVISERdash daily newsletter. 

The survey findings also suggest Gen Y has a different approach than older generations when it comes to making financial and investing decisions:

A more socialized financial experience – At the start of the financial crisis, Gen Y turned to family and friends for financial advice more than other generations (37% versus 23% of Gen X and 25% of Boomers). They were also more likely to conduct online research (34%) and use online tools and calculators (23%).
Emergency funding – Although 26% of Gen Y respondents said personal debt increased these past five years, 71% of respondents started to maintain an emergency fund and 48% increased their emergency savings. In comparison, while 21% of Boomers saw personal debt increase, slightly more than half (52%) started to maintain an emergency fund and only 29% increased their emergency savings.
A focus on saving – Thirty-four percent of Gen Y respondents increased household liquid assets, and 39% of Gen Y increased contributions to a tax advantaged retirement savings account. Employer-sponsored retirement savings plans (32%), IRAs (21%), and personal real estate (29%) also have increased in importance for Gen Y.

The Fidelity Five Years Later study was conducted online among 1,154 adult investors by GfK Public Affairs and Corporate Communication using GfK’s KnowledgePanel during the period of February 12 to 25, 2013. More information is here.

Continue Reading for Free

Register and get access to…