The success of John Hancock's $6.9 billion Classic Value Fund has prompted the company to repeat its sub-advisory model again and, now, a third time. The newest offer applies the same undervaluation-seeking method to a universe of "mega-cap" stocks from America's biggest corporations.

The introduction of the Classic Value Fund II, which opened to investors Monday, follows the roll-out of the International Classic Value Fund at the end of February and brings Hancock's fund family to 51 open-end retail funds. In sub-advising the Classic Value II, New York-based Pzena Investment Management (PIM) will use the same team that manages the original Classic Value: Richard Pzena, John Goetz and Antonio De Spirito.

The Classic Value II will select from among the 400 largest publicly traded companies in the country. In a press release, Hancock funds president and CEO Keith Hartstein pointed to a widespread belief that such "mega-cap" stocks are currently undervalued as reason why the timing might be ripe.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE