John Hancock Funds, the mutual fund arm of John Hancock Financial Services, announced the launch of the John Hancock International Classic Value Fund on Tuesday. As with the three-year-old, $4 billion-strong John Hancock Classic Value Fund, it will be managed through a subadvisory agreement with New York asset managers Pzena Investment Management (PIM).

In a press release, John Hancock said the new fund will primarily seek long-term growth through investments in foreign companies of various sizes. PIM’s strategy for the fund involves building a portfolio of equity securities that are undervalued based on estimated normal earnings levels. The International Classic Value Fund will join a family of over forty open-end funds offered by the Boston fund firm.

Founded in 1995, PIM currently manages over $19 billion in assets for institutional clients. This newest fund will be managed by A. Rama Krishna, CFA, John P. Goetz, and Michael D. Peterson. The team has managed an international value strategy for the past two years. Before joining PIM, Krishna worked for Citigroup Asset Management. 

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