John Hancock's[see profile]
mutual funds business reported
another strong quarter with sales of US$3.5 billion, up 50 percent from the second quarter of last year. And Hancock's Lifestyle portfolios reported over US$75 billion of assets under management across its various products.
"The strength of the John Hancock brand has been clearly evident during these challenging economic times in the U.S.," said Jim Boyle
, president, John Hancock Financial Services, in a statement.
The company attributed the increase in sales to having a diversified offering of competitive funds, with its fixed income portfolios continuing to experience strong sales momentum in the second quarter of 2011.
"Funds under management for JH Funds have increased to US$38.1 billion as at June 30, 2011, a 34 percent increase from June 30, 2010, attributable to positive market performance and net sales during the period," Hancock reported.
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