Company Press Release

BOSTON, Jan. 25, 2011 /PRNewswire/ -- John Hancock Funds announced the launch of the John Hancock Alternative Asset Allocation Fund (JAAAX), a new fund offering investors a disciplined, diversified approach to allocating part of their portfolios to alternative asset classes and strategies. The John Hancock Alternative Asset Allocation Fund is a multi-managed fund that includes as managers of its underlying funds such leading asset management firms as Pacific Investment Management Company (PIMCO), Wellington Management Company LLP, Dimensional Fund Advisors, Stone Harbor, Deutsche Asset Management, First Quadrant, and John Hancock Asset Management.

The John Hancock Alternative Asset Allocation Fund invests in other funds and investment companies that emphasize alternative asset classes including global real estate, commodities, natural resource equities, and emerging market debt. Additionally, the Fund invests in absolute return funds as well as funds that utilize highly flexible investment strategies to generate alpha. These alternative or non-traditional asset categories and strategies generally have different return patterns than the broad U.S. stock and bond market and can offer significant diversification benefits.

"With more investors looking for ways to decrease volatility in their portfolios, the John Hancock Alternative Asset Allocation Fund offers a 'one-stop' solution delivering exposure to various alternative asset classes and alternative strategies that act as diversifiers and may help to improve the risk-return profile of a traditional investment portfolio," said Keith F. Hartstein, President & CEO, John Hancock Funds.

"Most investors are under-weight alternative classes and alternative strategies such as global real estate, emerging market value equities, commodities, natural resources and long/short strategies. With this new Fund, we help simplify a financial advisor's decision-making process by offering a multi-manager product that is diversified across asset classes. This new fund is a direct result of our expertise in offering fund of funds sub-advised by a roster of world-class asset managers," Mr. Hartstein said.

He added: "Financial advisors have been asking for more alternative product, and with our long term experience in managing fund of funds, John Hancock is well-positioned to deliver this type of solution."

The Fund is managed by the Portfolio Solutions Group (PSG) within John Hancock Asset Management, the sub-adviser to the new Fund and a division of Manulife Asset Management. PSG is led by Bruce Speca, Head of Global Asset Allocation, and Bob Boyda and Steve Medina, both Senior Portfolio Managers. They direct the Fund's investment in underlying funds managed by sub-advisor firms. PSG manages all of John Hancock's asset allocation portfolios globally, which comprise 109 funds and $90 billion in assets under management, including more than $75 billion in target risk and target date funds.

John Hancock is the largest manager of Target Risk (Lifestyle) funds and the third largest manager of Target Date (Lifecycle)/Target Risk funds combined, behind Fidelity and Vanguard (Source: Strategic Insight: Simfund).

About John Hancock Funds

The Boston-based mutual fund business unit of John Hancock Financial, John Hancock Funds manages more than $60.8 billion in open-end funds, closed-end funds, private accounts, retirement plans and related party assets for individual and institutional investors as at September 30, 2010.