State Street Corporation announced that it has been appointed by John Hancock Funds II to provide custody, fund accounting and securities lending services to John Hancock Funds’ Lifestyle Portfolios.
The Lifestyle Portfolios comprise five retail Lifestyle mutual funds of funds, with 47 underlying mutual fund portfolios and $15 billion in assets.
“We have worked with State Street for more than 15 years, and knew they had the range of capabilities and skills to support multiple requirements of our retail Lifestyle Portfolios’ launch,” said Gordon Shone, senior vice president of John Hancock. “We felt comfortable that State Street has the depth and experience to service our operationally complex funds.”
“We are pleased that we have been able to help support John Hancock through many different stages of their business growth,” said Jay Hooley, executive vice president and head of global investment servicing at State Street. “Customers are demanding more and more servicing solutions from their investment providers, and they recognize that a successful partnership can help ensure that they stay ahead in this competitive marketplace.”