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Rating:A $1B Hancock Fund May Swallow a Smaller Fellow Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, September 09, 2011

A $1B Hancock Fund May Swallow a Smaller Fellow

Reported by Neil Anderson, Managing Editor

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 [see filing].

"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.

GMO's Thomas Hancock and Sam Wilderman PM both funds. 

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