John Hancock Advisers acquired the M.S.B. Fund from Shay Assets Management last Friday. The diversified, large-cap blend fund, which has $52 million in assets, will now be known as the John Hancock Large Cap Select Fund.
"Once again, as part of our strategic plan to grow assets, we have been able to acquire a top-performing mutual fund with an excellent portfolio management team that will complement our existing product line and greatly benefit our customers," said Maureen Ford, chairman and chief executive officer of John Hancock Funds. This is the third fund that Hancock has acquired in the past three years, according to Reuters.