John Hancock Financial Services Monday unveiled seven new funds that GMO will sub-advise. They are the John Hancock U.S. Core Fund, Instrinsic Value Fund, International Core Fund, International Growth Fund, Growth Opportunities Fund, Value Opportunities Fund and Growth Fund.
"Launching these new funds is an important step toward our goal of becoming a top-tier player in the highly competitive U.S. mutual fund marketplace," said John D. DesPrez III, president and chief executive officer of John Hancock Financial Services.
"The new GMO sub-advised funds, combined with our existing fund lineup, provide the product depth and performance strength we need to achieve scale in the mutual fund industry," DesPrez continued. "This represents one of a series of strategic measures we have undertaken recently to attain a leadership position in mutual funds, just as our variable annuity and 401(k) retirement plan divisions are leaders in their markets."
Like Hancock's other mutual funds, the new offerings will be sold through financial advisers.