John Hancock launched five lifestyle portfolios Tuesday, with $15 billion in assets being shifted from existing lifestyle assets.

The new John Hancock Lifestyle Portfolios consist of conservative, moderate, balanced, growth and aggressive funds, with the conservative portfolio 20% invested in equities and the aggressive fund 100% invested in equities. The funds employ an ongoing process for selection of 47 underlying fund managers, asset class selection, fund manager optimization and ongoing monitoring.

Hancock has been managing lifestyle assets for the past nine years and is the third-largest provider of the asset class, according to Strategic Insight.

Keith F. Hartstein, chief executive officer of John Hancock Funds, said that the new funds stand out from the increasingly crowded lifestyle/lifecycle market in that they come to market with a sizeable asset base and draw upon the firm's experience in the sector.

"This $15 billion launch makes us one of the largest providers of lifestyle products in the non-proprietary distribution channel," Hartstein said. "Furthermore, we are not simply offering a blend of proprietary funds. Rather, we are making available a virtual 'who's who' of the investment management industry with our multi-manager, multi-style and multi-asset approach."

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