Boston-based mutual fund John Hancock has filed for approval to merge a two-star mutual fund with a four-star fund, MutualFundWire reports. Hancock is seeking to combine the $77.5 million John Hancock U.S. Core Equity Fund and the $1 billion John Hancock U.S. Equity Fund.
The new fund will be able to raise asset size and achieve economies of scale to lower per-share fund expenses in the future as duplicative resources and costs. Thomas Hancock and Sam Wilderman are portfolio managers of both the funds.
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