MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, February 9, 2012 Hancock Funds Breaks a Record John Hancock Mutual Funds today revealed its sales figures for 2011, which weren't anything to sneeze at, according to the firm [earnings call transcript]. In fact, the firm's full year sales in 2011 "reached our highest level ever at US$12.5 billion, exceeding sales of US$9.7 billion in 2010 by 29 per cent," according to a statement. The firm attributed the increase in sales to a "diversified offering of competitive funds and expansion of distribution." However, the unit reported sales of US$2.5 billion in the fourth quarter, a three percent decline from the fourth quarter of 2010 because of "significant market volatility. And its AUM jumped to US$35.5 billion as of December 31, a four percent increase from December 31, 2010, due to positive net sales. Jim Boyle, president of John Hancock Financial Services, stated, "We are very pleased with our mutual fund sales of US$12.5 billion in 2011, which were up 29 per cent over 2010, a result of our focus on growing our higher return, fee based wealth management products and services while successfully repositioning our insurance product portfolio to reduce interest rate risk in 2011." Printed from: MFWire.com/story.asp?s=39190 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |