BOSTON, July 1, 2014 /PRNewswire/ -- John Hancock Investments announced expense reductions on five mutual funds that together span a range of asset classes. Advisory fees have been reduced and/or breakpoints added on John Hancock Floating Rate Income Fund (Class A: JFIAX), John Hancock Global Income Fund (Class A: JYGAX), John Hancock Strategic Income Opportunities Fund (Class A: JIPAX), John Hancock Financial Industries Fund (Class A: FIDAX), and John Hancock Global Absolute Return Strategies Fund (Class A: JHAAX).
"We recognize the importance of being competitively priced and continue to focus on lowering expenses – these actions are the latest result of that effort," said Andrew G. Arnott, President and CEO of John Hancock Investments. "Investors have rewarded our manager of managers approach in recent years, and as the funds realize economies of scale, we are committed to enhancing shareholder value."
These expense reductions follow additional reductions made in the John Hancock Freedom 529 Plan and 18 other fee reductions in the mutual fund lineup over the last few years. Additional details of these new expense reductions can be found in the funds' prospectuses, as supplemented.
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 $121 billion in assets as of May 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