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.
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.