NU Online News Service, Jan. 14, 2:13 p.m. – John Hancock Funds, Boston, is setting up a new mutual fund, the John Hancock Large Cap Spectrum Fund.
The fund will invest in many different types of big companies, including those that appear to be poised for growth and those that appear to have under-valued stock.
The fund will begin by investing 25% of the portfolio in what the managers believe to be value stocks, 50% in what appear to be core stocks, and 25% in what appear to be growth stocks, the company says.
Money managers from Alliance Capital Management L.P., New York, will help manage the growth and value assets, Hancock Funds says.
The new fund will offer Class A shares with a maximum front-end sales charge of 5%; Class B shares with a maximum deferred sales charge of 5%; and Class C shares with a maximum front-end sales charge of 1% and a maximum deferred sales charge of 1%.
The minimum initial investment is $1,000 for regular accounts and $250 for retirement accounts.
Hancock Funds is a unit of John Hancock Financial Services Inc.