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 and CEO of John Hancock Investments.