John Hancock Funds Makes Popular Target Date Suite Available in Investment-Only Space
BOSTON, Oct. 8, 2012 /PRNewswire/ -- John Hancock has made its recently renamed "Retirement Choices At" series of target date funds available in the Investment-Only marketplace to retirement plan sponsors. Share classes R1, R2, and R6 are now available, following the launch of R4 shares last spring.
Effective in May of 2012, John Hancock renamed its two target date funds series to make a clearer distinction between funds that are managed "To" and "Through" retirement.
- Formerly named "Retirement 2010 – 2050 Portfolios," the target date funds spanning 2010 to 2050 are now called "Retirement Choices At" (e.g., "Retirement Choices At 2015"). This emphasizes that the portfolios are managed "to" a specific year.
- The former "Lifecycle Portfolios," also spanning 2010 to 2050, are now called "Retirement Living Through" portfolios. This reinforces that the portfolios are managed "through" retirement.
"The role of target date funds, glide path construction and retirement income adequacy has increasingly become a central theme for many plan sponsors," said Todd J. Cassler, Senior Managing Director and Head of Institutional Sales, John Hancock Funds. "When deciding between a 'To' or 'Through' retirement approach, there is no right or wrong answer. However, understanding the implications and nuances of each approach and clearly communicating the differences to plan sponsors and participants is essential."
"As a provider of choice to retirement plans, John Hancock is one of the few firms offering both 'To' and 'Through' retirement funds," said Steven Medina, portfolio manager with John Hancock Asset Management, sub-adviser to the Funds. "These actively managed portfolios offer asset allocation at an attractive expense level. The suites have been managed very much in line with their expectations, with the near-dated portfolios designed to protect capital in difficult market environments, while the farther-dated portfolios have participated nicely in the more favorable market environments. Moreover, they have attracted $2.5 billion in assets in the past two years, so clearly they are resonating with plan sponsors."
"We are proud to demonstrate leadership in the target date space by drawing very clear distinctions between the two products. This is just one example of our commitment to helping financial advisers, plan sponsors and participants fully understand these important investment options. We believe that by maintaining an investor-centered approach and perspective, we can better support those we serve every day and provide thought leadership to the industry. This philosophy has strengthened our relationships with clients and contributed to the growth of our DCIO business this year," adds Cassler.
About John Hancock Funds
The Boston-based mutual fund business unit of John Hancock Financial, John Hancock Funds oversees more than $73.7 billion in open-end funds, closed-end funds, private accounts, college savings and retirement plans, and related party assets for individual and institutional investors as at June 30, 2012.
About Manulife Asset Management and John Hancock Asset Management
Manulife Asset Management is the global asset management arm of Manulife Financial. Manulife Asset Management provides comprehensive asset management solutions for institutional investors and investment funds in key markets around the world. Manulife Asset Management also provides investment management services to affiliates' retail clients through product offerings of Manulife and John Hancock. This investment expertise extends across a full range of asset classes including equity, fixed income and alternative investments such as real estate, timber, farmland, as well as asset allocation strategies.
Manulife Asset Management has offices with full investment capabilities in the United States, Canada, the United Kingdom, Japan, Hong Kong, Singapore, Taiwan, Indonesia, Thailand, Vietnam, Malaysia and the Philippines. In addition, it has a joint venture asset management business in China, Manulife TEDA. It also has operations in Australia, New Zealand, Brazil and Uruguay. John Hancock Asset Management, Hancock Natural Resource Group and Declaration Management and Research are units of Manulife Asset Management.
Manulife Asset Management was named a 2011 Bond Manager of the Year finalist in the United States by Money Management Intelligence (MMI) and Best Asian Bond House by Asia Asset Management.
As at June 30, 2012, assets under management were US$218 billion. Additional information about Manulife Asset Management may be found at ManulifeAM.com.
About John Hancock Financial and Manulife Financial Corporation
John Hancock Financial is a unit of Manulife Financial Corporation, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. In 2012, John Hancock celebrates 150 years of serving clients across the United States, while Manulife celebrates its 125th anniversary. Operating as Manulife Financial in Canada and in most of Asia, and primarily as John Hancock in the United States, Manulife Financial Corporation offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were C$514 billion (US$504 billion) as at June 30, 2012. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at manulife.com. The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers a broad range of financial products and services, including life insurance, annuities, fixed products, mutual funds, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at johnhancock.com.
A fund's investment objectives, risks, charges and expenses should be considered carefully before investing. The prospectus includes this and other important information about the fund. To obtain a prospectus, call your financial professional, John Hancock Funds at 1-800-225-5291 or visit our Web Site at www.jhfunds.com. Please read the prospectus carefully before investing or sending money.
SOURCE John Hancock Funds