BOSTON, June 5, 2013 /PRNewswire/ -- John Hancock has implemented new breakpoints for three mutual funds and lower expense caps for two funds, across a range of asset classes. Three of the funds implemented new breakpoint schedules effective June 1, 2013, while two funds reduced expenses last year. Additional details are available in the funds' prospectuses.
"We are a steward of our shareholders' capital and we put our investors' interests first. With these new fee schedules and others in the works over the near term, John Hancock is delivering on our commitment to driving higher investment value for our shareholders," said Andrew G. Arnott, President & CEO of John Hancock Funds.
New fee schedules became effective June 1, 2013 for John Hancock Classic Value Fund (Class A: PZFVX), John Hancock U.S. Global Leaders Growth Fund (Class A: USGLX), and John Hancock Alternative Asset Allocation Fund (Class A: JAAAX).
John Hancock Classic Value Fund reduced its advisory fee rate by four basis points across all breakpoints, which investors will realize immediately. John Hancock U.S. Global Leaders Growth Fund has added two new breakpoints to the advisory fee schedule. John Hancock Alternative Asset Allocation Fund, which previously did not offer breakpoints on the advisory fee schedule, also implemented two new breakpoints. For these latter two funds, investors will realize an expense reduction from the new breakpoints as fund assets increase.Previously, in 2012, John Hancock Funds implemented a lower expense cap on John Hancock Core High Yield Fund (Class A: JYIAX), which resulted in a total expense reduction of six basis points. John Hancock Government Income Fund (Class A: JHGIX) also instituted a lower expense cap in 2012, reducing advisory fees by eight basis points.