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Rating:Hancock Terminates Subadvisor Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, July 17, 2003

Hancock Terminates Subadvisor

by: Sean Hanna, Editor in Chief

Yeager, Wood & Marshall is out as subadvisor to the John Hancock U.S. Global Leaders fund. The move was revealed by John Hancock in an SEC filing and was apparently made in response to the resignation of two portfolio managers Yeager, Wood & Marshall. The filing added that William Braman, chief investment officer at John Hancock Advisors, would take over the portfolio.

The portfolio managers who resigned from Yeager, Wood & Marshall were George Fraise, principal and Gordon Marchand, vice president. George Yeager, president of the subadvisor, was also a portfolio manager on the fund.

Hancock left the $600 million mandate with Yeager, Wood & Marshall after it purchased the fund from the advisor a little more than a year ago. Now it will have to likely start a search to fill the opening. Maureen Ford, chief executive of John Hancock Funds stated that Hancock will examine several ways to handle the ongoing portfolio management of the fund and that one option is to hire another sub-adviser.

Braman explained that he will continue to "take a low-turnover approach and seek out companies that have pricing flexibility, recurring revenues and global reach."  

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