John Hancock Funds has expanded its Relative Value Investment Team with the hiring of Alan Norton as VP and team leader and Henry Mehlman as VP and portfolio manager.

The Relative Value Investment Team now consists of four portfolio managers and two analysts. The team manages nearly $3 billion in assets in four retail mutual funds, one institutional mutual fund, one variable annuity sub-account and many separate accounts.

Both Norton and Mehlman will focus on John Hancock Funds' small-cap and focused equity portfolios, according to the firm. In addition, Norton will assist fund manager James Yu in managing John Hancock's large-cap equities strategies.

Norton and Mehlman have followed similar paths to John Hancock. Both join the firm from The Colony Group, a high-net-worth investment management firm. At Colony, Norton served as senior portfolio manager and oversaw the firm's small- and mid-cap core portfolios. He previously was a portfolio manager and director of research at Congress Asset Management, which manages assets for institutional and high-net-worth clients.

At Colony, Mehlman served as senior portfolio manager and worked with Norton on the small- and mid-cap portfolios. He too was previously with Congress Asset Management as a VP. Prior to that, Mehlman spent nearly 15 years with Fidelity Investments, where he managed mutual funds and institutional accounts.

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