BOSTON, Feb. 15, 2011 /PRNewswire/ -- John Hancock Asset Management, a division of Manulife Asset Management, has acquired Optique Capital Management, a registered investment adviser based in Milwaukee, Wisconsin. The acquisition closed on Friday, February 11; terms were not disclosed. As at December 31, 2010, Optique's mutual fund and separate account assets under management were approximately $800 million.
As a result of the acquisition, John Hancock Funds has completed the adoption of Optique's International Value Fund, and has re-launched it as the newly established John Hancock International Value Equity Fund (JIEAX). The Fund reorganization was effective at the close of business on February 11, and the Fund became available for sale on February 14. The new Fund is currently rated 4-stars by Morningstar® and brings the total number of 4- and 5-star Morningstar®-rated funds offered by John Hancock to 22.
"We are very pleased to offer financial advisers and their clients our new International Value Equity Fund. With a strong long-term record and management by a premier institutional asset management team, our new fund fills an important style box for John Hancock Funds," said Keith F. Hartstein, President & CEO, John Hancock Funds.
"Once we identify an investment strategy that we believe will fill a need in the market, our unique sub-advisory business model affords us the luxury of seeking out best-in-class institutional asset managers to manage that strategy, and we are very happy to include this team in our lineup," said Andrew G. Arnott, Executive Vice President, John Hancock Investment Management Services.
In addition to the Fund launch, eight members of the former Optique Capital team will be joining the John Hancock Asset Management division of Manulife Asset Management, forming a new International Value Equity team, based in Milwaukee. The team will be led by Wendell L. Perkins, Senior Managing Director and Senior Portfolio Manager, Margaret (Peggy) A. McKay and Edward T. Marraccini, both Managing Directors and Portfolio Managers, and will report to Christopher Conkey, Chief Investment Officer, Global Equities, Manulife Asset Management.
The John Hancock International Value Equity Fund's investment objective is to seek long-term capital appreciation by focusing on foreign companies that appear to be undervalued relative to their real worth or future prospects. The Fund's portfolio managers use a variety of resources, including computer models and fundamental research, to identify foreign stocks that they believe are favorably priced. Specifically, the portfolio managers look for non-U.S. companies that have some or all of the following attributes: positive free cash flow, corporate restructuring or management changes, increasing market share or new product development, inexpensive (i.e., low valuation) relative to their industry sector, relatively flat or increasing earnings estimate revisions, sufficient analysts' coverage and liquidity, and other evidence of positive catalysts for change.
About John Hancock Funds
The Boston-based mutual fund business unit of John Hancock Financial, John Hancock Funds manages more than $65.9 billion in open-end funds, closed-end funds, private accounts, retirement plans and related party assets for individual and institutional investors as at December 31, 2010.
About Manulife Asset Management and John Hancock Asset Management
Manulife Asset Management™ is the global asset management arm of Manulife Financial. Manulife Asset Management and its affiliates provide comprehensive asset management solutions for institutional investors and investment funds in key markets around the world. This investment expertise extends across a broad range of asset classes including equity, fixed income and alternative investments such as real estate, timber, farmland, as well as asset allocation strategies. As at December 31, 2010, assets under management for institutional clients were Cdn$209 billion (US$210 billion).
John Hancock Asset Management is a division of Manulife Asset Management.
About John Hancock Financial and Manulife Financial Corporation
John Hancock Financial is a unit of Manulife Financial Corporation, a leading Canadian-based financial services group serving millions of customers in 22 countries and territories worldwide. 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. For more than 120 years, clients have looked to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Funds under management by Manulife Financial and its subsidiaries were Cdn$475 billion (US$478 billion) as at December 31, 2010.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial may be found on the Internet at www.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, fixed and variable 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 www.johnhancock.com.
SOURCE John Hancock Funds