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Tuesday, August 18, 2009

Hancock Lines Up Another Adoption Deal

Reported by Armie Margaret Lee

John Hancock is working on its 10th fund adoption in seven years and has started discussions on yet another fund, The MFWire has learned. The Boston-based fund firm is planning to adopt Fiduciary Management Associates' FMA Small Company Portfolio and reorganize it into the John Hancock Small Company Fund.

Andy Arnott
John Hancock
Head of Product Management and Development
If approved by shareholders of the FMA fund, the reorganization would take place on or around December 11. The fund currently has AUM of $120 million.

"Adoptions continue to be a key component of our strategy," said Andy Arnott, senior vice president and head of product management and development, in an interview with The MFWire.

Arnott noted that Hancock's current offerings on the small cap side are more growth-oriented. The transaction would help "round out our product line," he said.

Kathy Vorisek, chief investment officer and senior managing director at FMA, declined to comment on the transaction.

Arnott pointed to the fund's "good long-term track record and risk-adjusted returns," as well as the "bench strength" at FMA. He declined to give detailed comments on the transaction beyond what is stated in the filing.

Meanwhile, Hancock has begun talks regarding the adoption of another fund, Arnott said. He did not identify the adoption target.

Those discussions, he said, "won't come to fruition until next year."

Hancock embarked on its adoption strategy in 2002. Since then, it has completed nine transactions, the latest one being the adoption of the Robeco Partners Large Cap Value Fund, which was completed in January. Hancock launched it as the John Hancock Disciplined Value Fund.  

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