Close Close

Portfolio > Asset Managers

John Hancock Acquires MSB Fund

Your article was successfully shared with the contacts you provided.

Aug. 25, 2003 — John Hancock Advisers acquired the assets and shareholder base of the $52-million MSB Fund (MSBFX), which will now be known as John Hancock Large-Cap Select Fund.

Chicago-based Shay Assets Management Inc. will continue to manage the fund under a subadvisory agreement. John McCabe and Mark Trautman of Shay Assets will continue as the fund’s portfolio managers.

A spokesman for Shay Assets said McCabe and Trautman have managed the fund since 1991, and that the fund’s investment process will remain unchanged.

More on this topic

The managers invest in a diversified portfolio of companies that have demonstrated the ability to grow their earnings steadily and over an extended period of time, Hancock said in a press release. They look for companies with strong balance sheets, solid management and sustainable earnings growth, and buy them at a reasonable price.

MSB Fund, classified as a large-cap value fund by Standard & Poor’s, is ranked 3 Stars. For the ten-year period ended July 31, the fund rose an average annualized 10.2%, versus 9.2% for the average large-cap value fund.

Last year, Hancock acquired the U.S. Global Leaders Growth Fund and the Pzena Focused Value Fund. The funds are now known as the J Hancock US Global Leaders Growth/A (USGLX), and the J Hancock Classic Value/A (PZFVX), respectively.