some positive numbers for its John Hancock Mutual Funds [see profile]
business in the U.S [see earnings call transcript
Specifically, the unit reported sales of US$2.9
billion in the third quarter, a 27 per cent increase over the
third quarter of 2010. Year-to-date sales of US$10.0 billion
through September 30 exceeded full year sales of US$9.7
billion in 2010. "The increase in sales was attributable to a
diversified offering of competitive funds, with strong
performance in the Institutional channel in the third quarter
of 2011," according to the firm.
In addition, funds under management for JH Funds increased to
US$33.4 billion as at September 30, 2011, a six per cent
increase from September 30. However, the unit reported net
redemptions in the third quarter of 2011 "as a result of the
significant market volatility."
the earnings release.
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