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John Hancock Freedom 529 College Savings Plan Reduces Fees

BOSTON, 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.

Effective 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.

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