NU Online News Service, Aug. 25, 2003, 5:54 p.m. EDT – John Hancock Advisers, a unit of John Hancock Financial Services Inc., Boston, has acquired M.S.B. Fund Inc., a large-cap blend mutual fund, from Shay Assets Management Inc., Chicago.
Shareholders of the M.S.B. Fund approved the sale Aug. 20. The transaction closed Aug. 22.
The fund, which manages about $50 million in net assets, now will be known as John Hancock Large Cap Select Fund. Shay, the current advisor, will continue to manage the fund, Hancock says.
The purchase is Hancock’s third fund acquisition in the past 12 months. Last year, Hancock acquired the U.S. Global Leaders Growth Fund and the Pzena Focused Value Fund.