John Hancock Investments has added three new funds to its Dublin-domiciled platform on the back of demand from US wirehouses as they harmonize their domestic and offshore fund lists, Citywire Americas can reveal.
The US fund group, a manager of managers which runs over $136 billion in assets, entered the Ucits fund business for the first time in June 2015.
The latest fund additions are the John Hancock Global Quality Growth ex-US run by John Boselli at Boston-based Wellington Management Company and the John Hancock Global Disciplined Value ex-US run by Christopher Hart, Joshua Jones and Joseph Feeney at Boston Partners.
The third fund launched Friday last week was the John Hancock Short Duration Credit Opportunities run by James Craige, Roger Lavan, Catherine Nolan, Marianne Rossi and Peter Wilby of New York-based Stone Habor Investment Partners.
The newly-launched funds mirror 40 Act funds available to US investors.
Citywire AA-rated Boselli's Global Quality Growth Fund was launched as a Luxembourg-domiciled fund in 2011, however, John Hancock's version, as well as the Global Disciplined Value fund, have both had their portfolios tweaked to exclude the US market from their investment universe.
The firm found that investors outside the US had less appetite for global funds with US exposure given that they tend to access this market through US equity funds or passive products.
Head of offshore funds for John Hancock, Angela Billick said: ‘These are two strategies that are well regarded among our existing distribution partners, particularly those that have preferred lists and discretionary models. They know both [sets of] managers very well and are keen to see them in a Ucits strategy.'
John Hancock's distribution plan so far focuses on US financial professionals catering to Latin American clients.
It began with its wirehouse partners, firms like UBS, Merrill Lynch and Morgan Stanley, which already had products on their recommended lists and model portfolios.
These firms approached John Hancock with the idea of making some of their products available to Latin American clients, a process which has gained pace as many of them are now consolidating their fund platforms.
‘A large majority of them are harmonizing their lists,' said Todd Cassler, John Hancock's head of institutional distribution. 'We have a number of funds on their recommended list or their model portfolio where if they had an interest in using a Ucits vehicle for their offshore clients our manager of manager model gives that flexibility to make those products available.’
The firm also ramped up its institutional sales team with the addition of Luji Brock from Eaton Vance at the end of November. She will focus on gatekeepers at Latin American focused private banks, RIAs and wealth management firms.
Of the four funds the firm initially launched, Cassler said the ones that have seen the most interest are the John Hancock US Large Cap Equity fund run by Emory Sanders, Walter McCormick & Jonathan White and the John Hancock Strategic Income Opportunities run by Daniel Janis, Thomas Goggins and Kisoo Park.