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Hancock Acquires Global Growth Fund

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NU Online News Service, May 20, 3:53 p.m. – John Hancock Financial Services Inc., Boston, says its John Hancock Funds unit has completed acquiring the assets and shareholder base of the U.S. Global Leaders Growth Fund from Yeager, Wood & Marshall Inc., New York, an independent investment advisory firm.

Shareholders of the U.S. Global Leaders Growth Fund voted to approve the deal May 8 at a special shareholder meeting.

The fund, which controls about $124 million in assets, is an open-end mutual fund that seeks long-term capital growth by investing in global growth stocks.

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Starting today, the U.S. Global Leaders Growth Fund will become part of the John Hancock family of funds and adopt a new name, the John Hancock U.S. Global Leaders Growth Fund.

Yeager, Wood & Marshall will continue to manage the fund under a subadvisory agreement, Hancock says.