John Hancock Investments Hires Baillie Gifford to Manage John Hancock Select Growth Fund
BOSTON, May 12, 2014 /PRNewswire/ -- John Hancock Investments has hired Baillie Gifford Overseas Limited ("Baillie Gifford") to manage the John Hancock Select Growth Fund (Class A ticker: RGROX), formerly known as the John Hancock Rainier Growth Fund. The manager appointment and name change were approved by the Fund's Board of Trustees in March, and were effective at the close of business on April 17, 2014. The Fund will continue to be managed as a large cap growth portfolio.
"We are pleased to announce Baillie Gifford as manager of the John Hancock Select Growth Fund, and view this latest appointment as yet another example of our commitment to make institutional-caliber asset managers available to our individual investors," said Andrew G. Arnott, President & CEO, John Hancock Investments. "Founded in 1908, Baillie Gifford is an established and long-standing independent asset management partnership. Their singular focus on long-term investment results for clients and the depth of their research capabilities make them an ideal partner for John Hancock Investments," Mr. Arnott added.
"As an asset manager, our goals are aligned with our shareholders. Our 'manager of managers' approach allows us to search the globe to find portfolio management teams with a consistent and repeatable process who are focused on delivering competitive returns on a risk-adjusted basis," said Leo Zerilli, who runs the Investment Division at John Hancock Investments. "In this case, it led us to Scotland and Baillie Gifford, who has demonstrated skill investing in U.S. equity markets, taking advantage of the fact that global economies are interconnected and that nearly 50 percent of the revenue derived by S&P 500 companies comes from outside the U.S."
Ian Tabberer serves as portfolio manager of the Fund. He joined Baillie Gifford in 2008, and is Co-Head of the North American Equities team. The John Hancock Select Growth Fund's investment objective is to seek to maximize long-term capital appreciation.
Tabberer looks to invest in companies with favorable industry outlook, sustainable competitive advantages, financial strengths and quality. The team believes that investing in companies with above average and sustainable earnings growth allows for the compounding of earnings. The Fund is a high conviction strategy based on bottom-up fundamental analysis, will typically hold between 40-50 securities, and have a high active share.
"We believe this large cap growth strategy is a good complement to the existing large cap growth portfolios we offer at John Hancock Investments," Mr. Zerilli added.
John Hancock's relationship with the firm began two years ago when Baillie Gifford was hired to manage an international growth strategy within John Hancock's asset allocation suite. Headquartered in Edinburgh, Scotland, Baillie Gifford is one of the largest independently owned investment management firms in the United Kingdom. The firm had assets under management of £105 billion (US$174 billion) as at December 31, 2013, with $36 billion of the total managed in North America.
A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investments at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
About John Hancock Investments
John Hancock Investments provides asset management services to individuals and institutions through a unique manager-of-managers approach. We combine unbiased asset management with vigorous investment oversight to offer investors a deeper level of diversification and strong risk-adjusted returns across asset classes. A wealth management business of John Hancock Financial, we managed more than $117 billion in assets as of March 31, 2014, across mutual funds, college savings plans, and retirement plans.
About John Hancock Financial and Manulife
John Hancock Financial is a division of Manulife, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife in Canada and Asia, and primarily as John Hancock in the United States, our group of companies 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 and its subsidiaries were C$635 billion (US$574 billion) as at March 31, 2014. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife 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 and administers a broad range of financial products, including life insurance, annuities, investments, 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.
SOURCE John Hancock Investments