John Hancock Funds has launched two asset allocation fund of funds: John Hancock Allocation Growth + Value Portfolio and John Hancock Allocation Core Portfolio.
The Allocation Growth + Value Portfolio combines two distinct, yet complementary investment styles: large-cap-growth and large-cap-value. It will invest approximately half of its assets in the John Hancock U.S. Global Leaders Growth Fund, managed by Sustainable Growth Advisers, LP, and half in the John Hancock Classic Value Fund, managed by Pzena Investment Management, LLC.
The Allocation Core Portfolio will invest approximately one third of its assets in three funds: John Hancock U.S. Global Leaders Growth Fund, John Hancock Classic Value Fund and John Hancock Strategic Income Fund. This fund of funds also uses a multi-manager approach, combining the expertise of three institutional asset managers, Sustainable Growth Advisers, LP, Pzena Investment Management, LLC, and John Hancock Advisers, LLC.
Keith F. Hartstein, chief executive officer of John Hancock Funds, said, “Financial advisors and their clients have recognized that the key to investment success is a well-diversified portfolio. In fact, according to the ICI, they’ve poured $2.7 billion into asset allocation funds in just the first seven months of the year.”
Hartstein continued, “In response to this demand, John Hancock Funds created these two asset allocation products that combine top-tier investment talent with portfolio diversification and the potential for greater returns with reduced risk. These funds allow advisors to craft client portfolios easily and assuredly.”