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June 17, 2014 /PRNewswire/ -- John Hancock has lowered fees for the
John Hancock Freedom 529 college savings plan, a national, multi managed, strong performing 529 college savings plan sold through financial consultants, which recently surpassed
$4 billion in assets under management.
June 9, 2014:
The Program Fee was lowered by 10 basis points for all portfolios, except the JH Money Market Portfolio which was lowered by 5 basis points, reducing the Program Fee for all portfolios to 25 basis points
The Distribution and Service Fee for Fixed Income and Short-Term Bond Portfolios was reduced by 10 basis points
Account holders who elect to receive account statements and transaction confirmations electronically are eligible for a waiver of the annual Account Maintenance Fee
In addition, effective
September 2, 2014:
The maximum up front sales charge for Fixed Income and Short-Term Bond Portfolios will be reduced to 4 percent from 5 percent
The maximum up front sales charge for all other portfolios, including aged-based portfolios, will be reduced to 5 percent
"These fee reductions make our college savings plan more competitive and provide a greater value for advisors and their clients," said
John Bryson, head of Product Management and College Savings, John Hancock Investments. "Ultimately, we strive to help families achieve their goals of improving their future through higher education; we're hopeful these actions not only help our current clients, but also attract interest on the part of prospective advisors and clients."
These 529 fee reductions follow other fee cuts within John Hancock Investments' mutual fund line-up. Over the past 2.5 years, John Hancock Investments reduced fees on 18 mutual funds.