John Hancock is on the prowl to buy a mutual fund company

John Hancock Funds LLC is aiming to make an acquisition in the mutual fund industry, but for now, it is continuing its strategy of adopting funds, according to Keith Hartstein, its top executive.
OCT 25, 2009
John Hancock Funds LLC is aiming to make an acquisition in the mutual fund industry, but for now, it is continuing its strategy of adopting funds, according to Keith Hartstein, its top executive. The company is looking to adopt an international-equity fund and possibly a mid-cap fund down the road, Mr. Hartstein, the company's president and chief executive, said in an interview. Hancock this year filed to adopt Fiduciary Management Associates LLC's Small Company Portfolio and reorganize it into the John Hancock Small Company Fund, marking the firm's 10th fund adoption in the past seven years. Although fund adoptions have helped Hancock to expand its product line, the firm ultimately would like to acquire one big fund group or make a series of smaller acquisitions, Mr. Hartstein said.
“The most important thing with acquiring a fund family is getting the talent that has a good track record,” he said. Hancock, which has $26 billion in assets, has the scale to run about $60 billion in total assets, Mr. Hartstein said. “So we could manage $50 billion to $60 billion in assets without changing the infrastructure,” he said. “The challenge is finding a motivated seller with these prices.” E-mail Jessica Toonkel Marquez at [email protected].

Latest News

LPL takes big swing at mainstream with PGA marketing deal
LPL takes big swing at mainstream with PGA marketing deal

LPL recently has softened its antipathy to mainstream marketing.

Larry Roth joins JIFFY AI advisory board as wealth tech race heats up
Larry Roth joins JIFFY AI advisory board as wealth tech race heats up

The veteran independent broker-dealer executive brings crisis-tested leadership to the AI-powered data platform

RIA moves: Modern Wealth snaps up $1.1B Florida firm to extend Eastern footprint
RIA moves: Modern Wealth snaps up $1.1B Florida firm to extend Eastern footprint

Arax and Waverly also staged their own East Coast expansions by acquiring a family-owned practice and a Maryland-based wealth firm.

Most investors are still positioned for the old environment
Most investors are still positioned for the old environment

Portfolios are built for specific environments, but most investors are still positioned for one shaped by intervention and conditioning that may no longer exist.

How a 320-strong Morgan Stanley advisor team supports the pro bono financial planning push
How a 320-strong Morgan Stanley advisor team supports the pro bono financial planning push

Foundation for Financial Planning CEO tells InvestmentNews how the wirehouse’s wealth management division steps up to the plate for those in need.

SPONSORED Estate planning isn't a service add-on. It's your retention strategy.

As $84 trillion prepares to change hands, advisors who treat estate planning as peripheral are quietly building a sieve, not a book.

SPONSORED Why strategy matters more than performance

In volatile markets, the advisors who win aren't the ones with the best calls - they're the ones whose clients stay the course.