BOSTON, Nov. 11, 2021 /PRNewswire/ - John Hancock Investment Management, a company of Manulife Investment Management, today announced that share classes A, C, I & R6 of John Hancock Mid Cap Growth Fund are available to investors. The availability of these share classes follows the completion of the merger of John Hancock Mid Cap Stock Fund into John Hancock Mid Cap Growth Fund (the Fund). The merger was approved at a special meeting of shareholders which took place on October 6, 2021 and completed on October 15, 2021. The investment strategy, managed by Wellington Investment Management, is available to retail investors on a standalone basis only through John Hancock Mid Cap Growth Fund.
John Hancock Mid Cap Growth Fund seeks long-term growth and capital appreciation and invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of medium-sized companies with significant capital appreciation potential. The fund will continue to be managed by Mario E. Abularach, CFA, CMT, Partner and Equity Portfolio Manager and Research Analyst and Stephen Mortimer, Partner and Equity Portfolio Manager, Wellington Investment Management. Wellington has been the investment subadvisor of John Hancock Mid Cap Growth Fund since inception and was also subadvisor of the acquired fund. The merger is not expected to result in any change to the investment objective or principal investment policies of the fund, or any substantial change in investment strategy or portfolio composition.
"We're thankful to our shareholders and the John Hancock Funds Board for approving and recommending this merger. We also appreciate the investment expertise and confidence of the Wellington team - who is managing this strategy only for John Hancock Investment Management in the retail channel." said Andrew G. Arnott, CEO, John Hancock Investment Management and head of wealth and asset management, Manulife Investment Management, United States and Europe. "We believe the merger is in the best interest of our shareholders to create opportunity for reductions in gross and net expenses and greater potential for asset growth."
For more information on John Hancock Mid Cap Growth Fund click here.
About John Hancock Investment Management A company of Manulife Investment Management, we serve investors through a unique multimanager approach, complementing our extensive in-house capabilities with an unrivaled network of specialized asset managers, backed by some of the most rigorous investment oversight in the industry. The result is a diverse lineup of time-tested investments from a premier asset manager with a heritage of financial stewardship.
About Manulife Investment Management Manulife Investment Management is the global brand for the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 18 geographies. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We're committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement.
As of September 30, 2021, Manulife Investment Management's assets under management and administration, including assets managed for Manulife's other segments, totaled CAD $1.1 trillion (US $835 billion). Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.
The value of a company's equity securities is subject to change in the company's financial condition and overall market and economic conditions. Events in the U.S. and global financial markets, including actions taken by the U.S. Federal Reserve or foreign central banks to stimulate or stabilize economic growth, may at times result in unusually high market volatility, which could negatively impact performance. The stock prices of midsize and small companies can change more frequently and dramatically than those of large companies. Foreign investing, especially in emerging markets, has additional risks, such as currency and market volatility and political and social instability. In addition, when a fund focuses its investments in certain sectors of the economy, its performance may be driven largely by sector performance and could fluctuate more widely than if the fund were invested more evenly across sectors. Please see the fund's prospectus for additional risks.
Request a prospectus or summary prospectus from your financial advisor, by visiting jhinvestments.com, or by calling us at 800-225-5291. The prospectus includes investment objectives, risks, fees, expenses, and other information that you should consider carefully before investing.
Statements in this press release that are not historical facts are forward-looking statements as defined by the United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond the Fund's control and could cause actual results to differ materially from those set forth in the forward-looking statements.