John Hancock Launches Concentrated Value Fund

In another sign that the wind might finally be leaving growth stocks' sails, John Hancock Funds rolled out a concentrated value fund Wednesday.

First things first, growth investors typically buy stocks of companies they think are poised for the strongest earnings growth, while value investors usually look for companies who's stock price look cheap relative to their future growth or peers. Growth investors' approach tends to lead them to higher-priced and mercurial fare like technology stocks, while value investors often have significant stakes in lower octane sectors like financials and cyclicals.

In running the broker-sold John Hancock Focused Relative Value fund, portfolio manager Tim Quinlisk will hold just 20 to 35 stocks of any size that he thinks are cheap relative to a growth catalyst he sees down the road, like a knockout new product or a regulatory change that could boost a firm's customer list for example.

In past years a slew of focused funds have rolled out hoping to capitalize on the popularity of the high-octane (JAVLX - Cramer's Take - Stockpickr)Janus Twenty fund, but value funds with a concentrated or focused style aren't that common.

Quinlisk has posted a solid record working on the (TAGRX - Cramer's Take - Stockpickr)John Hancock Large Cap Value and the (SPVAX - Cramer's Take - Stockpickr)John Hancock Small Cap Value funds-where he assisted former manager Tim Keefe for a couple of years before taking the reins when Keefe left the firm earlier this year.

The fund isn't necessarily the cheapest on the shelf. Class A shares carry a maximum 5% front-end load or sales charge. Class B shares and Class C shares levy maximum 5% and 1% back-end loads or sales charges as well.

The fund's annual expense ratio is estimated to be above the funds' average peers. Class A shares will carry 1.5% expenses, while Class B and Class C shares' are expected to have 2.2% annual expenses.

The average large-, mid-, and small-cap value fund's expenses are 1.39%, 1.45%, and 1.55%, respectively, according to Morningstar.