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.
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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.
Deals & People January 8, 2007

UBS Securities LLC Gets New CEO

Teresa Mullett Ressel has been appointed as the new Chief Executive Officer of UBS Securities LLC, the US broker-dealer unit of UBS Group Americas, the company announced today.
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Ressel joined UBS, the world’s largest wealth manager, in 2004 to serve as Chief Operations Officer for UBS Investment Bank in the Americas. Ressel will continue to serve in that role, in addition to her new position. She previously served as Assistant Secretary and Chief Financial Officer at the U.S. Department of the Treasury in Washington D.C.

Ressell, who holds a BS and MS in Engineering from the University of Delaware and an MBA from the Rensselaer Polytechnic Institute in Troy, NY, reports to Robert Wolf, CEO and Chairman of UBS Group Americas and Global COO, UBS Investment Bank.

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“Teresa has a great career track record in the public and private sectors and brings senior management expertise in areas like operations, systems controls, finance, audit and compliance,” Wolf said, in a corporate release. “As we continue to grow and expand here, her depth of experience makes her ideally suited to oversee our broker-dealer business in the U.S.”

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