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Rating:St Nicholas Visits Hancock? Not Rated 3.0 Email Routing List Email & Route  Print Print
Thursday, December 14, 2000

St Nicholas Visits Hancock?

Reported by Tamiko Toland

John Hancock has added Nicholas-Applegate Capital Management to its growing list of sub-advisors. The firm will pitch in for John Hancock's half-dozen international funds.

While performance and stability were critical in John Hancock's decision, corporate and investment synergy also played a role.

"Their strategy complements ours," said John Hancock spokeswoman Liz Kennedy. "When their managers talks to our managers, they're on the same page."

Nicholas-Applegate sold its retail mutual fund business in 1999 in order to focus on investment management. The firm provides separate account management. It currently operates nineteen mutual funds with about $9 billion in assets; with $250,000 minimums, they are geared towards institutions.

With no plans to return to the retail fund market, Nicholas-Applegate's non-competitive stance is another asset. The sub-advisory business, however, fits into the firm's vision of itself as an investment manager. It presently sub-advises about three dozen funds, with more on the horizon.

"It's already a significant part of our business and we see it continuing to be," said spokesman Rick Shaughnessy of Nicholas-Applegate.

Hancock uses three other firms as sub-advisors. Mercury Advisors and American Fund Advisors both contribute to the mixed-sector Growth Trends Fund. Independence Investment Advisors, a John Hancock subsidiary, works on core products.

 

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