BOSTON, March 25, 2020 /PRNewswire/ – John Hancock Investment Management, a company of Manulife Investment Management, recently announced fee reductions to five John Hancock Multifactor ETFs. The fee reductions are a combination of reductions in contractual operating expense caps and restructuring of advisory fee schedules. The reductions will result in approximately $1.5 million total savings for current shareholders over the next 12 months.
The funds affected are John Hancock Multifactor Large Cap ETF (JHML), John Hancock Multifactor Developed International ETF (JHMD), John Hancock Multifactor Mid Cap ETF (JHMM), John Hancock Multifactor Small Cap ETF (JHSC), and John Hancock Multifactor Emerging Markets ETF (JHEM). All funds are subadvised by Dimensional Fund Advisors LP (Dimensional). The announced changes are expected to be effective on March 30, 2020.
John Hancock Investment Management has worked with Dimensional and its portfolio management teams for more than a decade, and launched ETFs built around Dimensional strategies in late 2015. The firm’s ETF offering has since expanded to 15 funds including the U.S. and international equity portfolios affected by these reductions and a range of sector-specific products.