John Hancock Makes Short Duration Credit Opportunities and Global High Yield Mutual Funds Available to Retail Investors Expands fixed-income product lineup with two funds managed by Stone Harbor Investment Partners
BOSTON, May 23, 2013 /PRNewswire/ -- John Hancock Funds today announced that the John Hancock Short Duration Credit Opportunities Fund (Class A: JMBAX, Class I: JMBIX) and the John Hancock Global High Yield Fund (Class A: JYGAX, Class I: JYGIX) are now available to retail investors. For the past three and a half years, the funds were available to investors only through John Hancock's asset allocation strategies.
The funds are managed by Stone Harbor Investment Partners LP, a global institutional fixed income investment firm based in New York specializing in credit and asset allocation strategies.
"With the wider availability of these two funds, we are deepening the range of fixed income asset management solutions we are able to offer investors," said Andrew G. Arnott, President & CEO, John Hancock Funds. "The funds, managed by Stone Harbor – a premier global credit and fixed income asset allocation manager – exemplify John Hancock's culture of putting investors first, and our 'best of breed, manager of managers' model."
For the three-year period ended April 30, 2013, the John Hancock Short Duration Credit Opportunities Fund Class A shares rank in the top 31 percent (30 out of 94) of Morningstar's Nontraditional Bond category; the John Hancock Global High Yield Fund Class A shares rank in the top 18 percent (41 out of 222) of Morningstar's Multi-sector Bond category.
The John Hancock Short Duration Credit Opportunities Fund and the John Hancock Global High Yield Fund are managed by portfolio teams at Stone Harbor led by the firm's chief investment officer, Peter J. Wilby, CFA.
"We're very pleased to continue developing our strategic partnership with John Hancock, which now enters a third decade. We are proud to offer these two new global credit allocation strategies for individual and institutional clients," said Mr. Wilby.
The John Hancock Short Duration Credit Opportunities Fund allocates across a wide range of segments in the global fixed-income marketplace, including investment grade bonds, high yield debt, floating rate loans, and emerging markets debt. As stated in the prospectus, the fund will maintain an average duration of approximately three years or less. Prior to March 28, 2013, the Fund was known as the John Hancock Multi-Sector Bond Fund.
The John Hancock Global High Yield Fund offers investors a unique combination of emerging markets and high yield debt, which together have historically provided an attractive source of yield and a low level of correlation to traditional fixed income asset classes.
In Morningstar's Multi-Sector Bond category, the John Hancock Short Duration Credit Opportunities Fund Class A shares are currently rated three stars; the Class A load-waived shares are rated three stars; and the Class I shares are rated four stars by Morningstar. Class A shares were rated three stars out of 94 funds for the three-year period as of April 30, 2013; the Class A load-waived shares were rated three stars out of 94 funds for the three-year period; and the Class I shares are rated four stars out of 94 funds for the three-year period, all by Morningstar. Class I and Class A share a common portfolio of investments, but have different expense structures.
In Morningstar's Nontraditional Bond category, the John Hancock Global High Yield Fund Class A shares are currently rated three stars; the Class A load-waived shares are rated four stars; and the Class I shares are rated four stars by Morningstar. Class A shares were rated three stars out of 222 funds for the three-year period as of April 30, 2013; the Class A load-waived shares were rated three stars out of 222 funds for the three-year period; and the Class I shares are rated four stars out of 222 funds for the three-year period, all by Morningstar. Class I and Class A share a common portfolio of investments, but have different expense structures.
About John Hancock Funds
The Boston-based mutual fund business unit of John Hancock Financial, John Hancock Funds, manages open-end funds, closed-end funds, college savings assets, retirement plans and related party assets for individual and institutional investors.
About John Hancock Financial and Manulife Financial
John Hancock Financial is a division of Manulife Financial, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife Financial in Canada and Asia, and primarily as John Hancock in the United States, the Company 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$555 billion (US$547 billion) as at March 31, 2013. 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 and administers a broad range of financial products, including life insurance, annuities, 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 contains this and other important information about the Fund. To obtain a prospectus, contact your financial professional, call 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.
Overall Ratings are based on the 3-year Morningstar Risk-Adjusted Returns and account for variation in a fund's monthly performance. The overall ratings include effects of sales charges, loads and redemption fees, whereas the load-waived ratings do not. Load-waived ratings for Class A shares should only be considered by investors who are not subject to a front-end sales charge. Contact your financial professional to determine whether you are eligible to purchase Class A shares without paying the front-end load. Other classes may be rated differently.
Fixed-income investments are subject to interest-rate and credit risk; their value will normally decline as interest rates rise or if the creditor is unable or unwilling to make principal or interest payments. Investments in higher-yielding, lower-rated securities involve additional risks as these securities include a higher risk of default and loss of principal. Foreign investing, especially in emerging markets, has additional risks, such as currency and market volatility and political and social instability. Currency transactions are impacted by fluctuations in exchange rates, which may adversely affect the U.S. dollar value of a fund's investments. The use of hedging and derivatives transactions could produce disproportionate gains or losses and may increase volatility and costs. Mortgage and asset-backed securities may be sensitive to changes in interest rates, subject to early repayment risk, and their value may fluctuate in response to the market's perception of issuer creditworthiness. If the fund invests in illiquid securities, it may be difficult to sell them at a price approximating their value. Loan participations and assignments involve special types of risks, including credit risk, interest-rate risk, counterparty risk, liquidity risk and the risks of being a lender. For additional information on these and other risk considerations, please see the Fund's prospectus.
SOURCE John Hancock Funds