John Hancock Funds has started two asset allocation funds of funds.
The Hancock Allocation Growth Plus Value Portfolio and Allocation Core Portfolio each offers Class A shares with a maximum front-end sales charge of 5%, Class B shares with no front-end sales charge and a maximum deferred sales charge of 5%, and Class C shares with no front-end sales charge and a maximum deferred sales charge of 1%. The minimum initial investment is $1,000 for regular accounts or $500 for retirement accounts.
The Allocation Growth Plus Value Portfolio is to invest about half its assets in the Hancock U.S. Global Leaders Growth Fund and half in the Hancock Classic Value Fund.
The Allocation Core Portfolio is to invest about one-third of its assets in each of three funds - Hancock U.S. Global Leaders Growth, Hancock Classic Value, and Hancock Strategic Income.
John Hancock Funds, a Boston investment management organization, had about $33.8 billion of assets under management at June 30. Hancock is a unit of Manulife Financial Corp. in Toronto.
