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Rating:Wellington and Hancock Pair Up for a Technical Encore Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, July 28, 2010

Wellington and Hancock Pair Up for a Technical Encore

Reported by Sean Hanna, Editor in Chief

Wellington Management Company has won another subadvisory mandate. This time the Boston-based asset manager has landed a gig subadvising a planned fund from John Hancock. The John Hancock Technical Opportunities Fund II will use a technical stock picking strategy. The win follows hard on the heels of USAA's decision to make Wellington the subadvisor replacing Marsico Capital for half of the portfolio of the USAA Aggressive Growth Fund. [SEC filing]

The Hancock mandate comes with no built in assets as the fund has not yet launched.

Portfolio manager Frank Teixiera will have the leeway to invest in equities with market caps of less than $5 billion selected using technical analysts, including quantitative and fundamental inputs. Typically the fund will stick to 75 or fewer stocks.

The fund appears to be a follow-up to the Hancock Technical Opportunities Fund (JCTAX) that launched last year that is also subadvised by Wellington with Teixiera acting as the PM. Soon after that fund's launch, Hancock Funds CEO Keith Hartstein told Bloomberg that the fund was one of the 10 best sellers at the complex, pulling in more than $1 million a day. 

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