State Street Selected by John Hancock Funds II to Service $15 Billion in Assets
January 05 2006 - 10:30AM
Business Wire
State Street Corporation (NYSE: STT), the world's leading provider
of services to institutional investors, announced today that it has
been appointed by John Hancock Funds II to provide custody, fund
accounting and securities lending services to John Hancock Funds'
Lifestyle Portfolios. The Lifestyle Portfolios comprise five retail
Lifestyle mutual funds of funds, with 47 underlying mutual fund
portfolios and $15 billion in assets. "We have worked with State
Street for more than 15 years, and knew they had the range of
capabilities and skills to support multiple requirements of our
retail Lifestyle Portfolios' launch," said Gordon Shone, senior
vice president of John Hancock. "We felt comfortable that State
Street has the depth and experience to service our operationally
complex funds." "We are pleased that we have been able to help
support John Hancock through many different stages of their
business growth," said Jay Hooley, executive vice president and
head of global investment servicing at State Street. "Customers are
demanding more and more servicing solutions from their investment
providers, and they recognize that a successful partnership can
help ensure that they stay ahead in this competitive marketplace."
State Street provides a variety of investment services to more than
40 percent of the mutual fund industry, and is the largest
contributor of mutual fund NAV's to NASDAQ. About State Street
Corporation: State Street Corporation (NYSE: STT) is the world's
leading specialist in providing institutional investors with
investment servicing, investment management and investment research
and trading. With $9.8 trillion in assets under custody and $1.4
trillion in assets under management (as of September 30, 2005),
State Street operates in 25 countries and more than 100 geographic
markets. For more information, visit State Street's web site at
www.statestreet.com. About John Hancock Funds John Hancock Funds, a
Boston-based investment management organization, manages more than
$34.0 billion in open-end funds, closed-end funds, private
accounts, retirement plans and related party assets for individual
and institutional investors as of September 30, 2005. Additional
information about John Hancock Funds can be found on the website:
www.jhfunds.com. About John Hancock and Manulife Financial John
Hancock is a unit of Manulife Financial Corporation, a leading
Canadian-based financial services group serving millions of
customers in 19 countries and territories worldwide. Operating as
Manulife Financial in Canada and most of Asia, and primarily
through John Hancock in the United States, the Company offers
clients a diverse range of financial protection products and wealth
management services through its extensive network of employees,
agents and distribution partners. Funds under management by
Manulife Financial and its subsidiaries were Cdn$360 billion
(US$310 billion) as of September 30, 2005. Manulife Financial
Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under
'0945' on the SEHK. Manulife Financial can be found on the Internet
at www.manulife.com
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