John Hancock [see profile]
wants to merge a two-star mutual fund into a four-star one. Today the Boston-based mutual fund filed a letter, dated this coming Monday, asking shareholders of the $77.5-million John Hancock US Core Equity Fund
to approve merging the fund into the $1.0-billion John Hancock U.S. Equity Fund
"The combined fund may be better positioned to increase asset size and achieve economies of scale, which may lead to lower per-share fund expenses in the future as duplicative resources and costs, such as legal, accounting, transfer agency services, insurance, custodial and administrative services, are combined," Hancock funds CEO Keith Hartstein
wrote in the letter.
's Thomas Hancock
and Sam Wilderman
PM both funds.
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