John Hancock Advisers Retains George Fraise And Gordon Marchand To Manage The John Hancock U.S. Global Leaders Growth Fund
Veteran Investment Professionals Will Maintain Fundıs Investment Strategy,
Discipline And Style
(BOSTON--August 13, 2003)--John Hancock Advisers today announced that it has
hired George P. Fraise and Gordon M. Marchand, principals and founders of
Sustainable Growth Advisers LP, to manage the John Hancock U.S. Global Leaders
Growth Fund.
Mr. Fraise and Mr. Marchand initially will be employees of John Hancock
Advisers and portfolio managers of the fund while also continuing to serve as
principals of Sustainable Growth Advisers, their recently formed New York-based
investment management company.
Previously, both Mr. Marchand and Mr. Fraise had been directors and members
of the three-person investment policy committee at Yeager Wood & Marshall Inc.,
the former sub-adviser of the John Hancock U.S. Global Leaders Growth Fund.
Mr. Fraise also was co-portfolio manager of the fund. During Mr. Fraise's
three-year tenure as co-portfolio manager, the John Hancock U.S. Global Leaders
Growth Fund had a five-star ranking from Morningstar.
"We are taking this innovative approach of having George and Gordon work for
both companies because we want them to begin managing the assets of John
Hancock U.S. Global Leaders Growth Fund as soon as possible. Bringing them on board
immediately is in the best interest of our shareholders as it ensures
continuity of the investment process for which this fund has become known," said
Maureen Ford, chairman and chief executive officer of John Hancock Funds. "Both
Gordon and George were actively involved in effectively executing the strategy
that has made the John Hancock U.S. Global Leaders Growth Fund such a strong
offering."
"We are thrilled to be working with John Hancock Advisers once again and
expect to develop a strong relationship between our two companies, a relationship
that will benefit shareholders," Mr. Fraise said. "We will manage the John
Hancock U.S. Global Leaders Fund with the same strategy and discipline that it
has always had. We will invest for the long-term, at reasonable prices, in the
best businesses, ones that show pricing flexibility, recurring revenue and
global reach."
Ms. Ford explained that the dual employee status will be short-term.
Sustainable Growth Advisers was formed in mid-July and is in the process of adding
staff, including key positions such as a senior portfolio manager and an equity
analyst, she said.
"Once George and Gordon add the appropriate skills and depth to their staff,
we anticipate seeking the approval of our Board of Trustees and the fund's
shareholders to formally hire their firm to be the sub-adviser of the John
Hancock U.S. Global Leaders Growth Fund," she said. "This process may take a couple
of months, but in the meantime, as employees of John Hancock Advisers, they
will be able to tap the skills and talents of our staff as they manage the fund."
Ms. Ford added that John Hancock Advisers expects to make the Global Leaders
investment strategy available to its institutional and private account clients.
Mr. Marchand, CFA, CIC, has nearly 25 years in investment management and
consulting experience. He was with Yeager Wood & Marshall, Inc. from 1984 to 2003
and served as the firm's Chief Financial and Operating Officer.
Previously, Mr. Marchand had been a manager with the Management Consulting
Services Group of Price Waterhouse.
George Fraise has more than 15 years of investment management experience. In
addition to his three-years at Yeager Wood & Marshall, Inc., he had been a
portfolio manager for Scudder Kemper Investments.
Before that, he held senior analyst positions with Smith Barney and
Chancellor Capital Management. Mr. Fraise began his career in 1987 as an equity analyst
with Drexel Burnham Lambert.
The John Hancock U.S. Global Leaders Growth Fund, which had $586 million in
assets under management as of July 31, 2003, is a non-diversified open-end
mutual fund that seeks long-term growth of capital by investing in stocks of
sustainable growth companies that have a global reach.
John Hancock Advisers, a premier investment management company, managed $27.5
billion in open-end funds, closed-end funds, private accounts, variable
annuities and retirement plans for individual and institutional investors as of
June 30, 2003.
John Hancock Funds is a wholly owned subsidiary of John Hancock Financial
Services, Inc. (NYSE: JHF). John Hancock and its affiliated companies provide a
broad array of insurance and investment products and services to retail and
institutional customers. As of June 30, 2003, John Hancock Financial Services and
its subsidiaries had total assets under management of $127.5 billion.
Sustainable Growth Advisers, LP is a New York-based investment advisory firm.
Launched by Gordon M. Marchand and George P. Fraise, the firm focuses on
managing portfolios for both U.S. and non-U.S. institutions--including mutual
funds--and individuals.
Sustainable Growth Advisers' mission is to build a respected, valuable
franchise, based on strong relationships, that adds value for its clients, its
employees and its community. The firm is in the business of providing for and
improving the financial security of its clients through the rigorous implementation
of a long-term process of investing in sustainable growth companies.
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For more complete information on John Hancock Funds, including fees and
expenses, please call 800/225-5291 for a prospectus. Please read it carefully
before you invest or send money.
John Hancock Funds, Inc. 101 Huntington Avenue Boston, MA 02199-7603.
