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Rating:Hancock Reports an Uptick in Mutual Fund Sales Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, August 06, 2010

Hancock Reports an Uptick in Mutual Fund Sales

Reported by Hung Tran

John Hancock [see profile] mutual funds sales were US$2.4 billion in the second quarter, representing a 51 percent increase in sales over the second quarter of 2009. The firm attributed the jump to improved market conditions and a broad diversified offering of competitive funds.

As of the end of June, assets under management for JH Funds totaled US$28.4 billion, a 30 percent increase over the last 12 months. Jim Boyle, president, John Hancock Financial Services, stated, "Our U.S. Division performed well and in line with our plans and strategies in the face of significant continuing economic headwinds."

The John Hancock Lifestyle Portfolios offered through its mutual fund and 401(k) products led JH Funds sales with over US$669 million in the first six months of 2010, a 92 percent increase over the prior year. Lifecycle portfolios offered through the 401(k) products continue to have a strong presence, comprising 58 percent of deposits in the first six months of 2010, according to the firm.  

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