Tickers enable easy search functionality and data
accessibility
TSX/NYSE/PSE: MFC SEHK: 945
BOSTON, June 15, 2021 /PRNewswire/ - John Hancock announced today its agreement with
Nasdaq Fund Network (NFN), enabling the registration of its
collective investment trusts (CITs) on Nasdaq's platform. Through
its new agreement with NFN, John
Hancock has now registered its CITs on the NFN, which
provides each CIT with a unique Nasdaq ticker. The ticker makes the
CIT searchable, enabling financial professionals to easily access
the information associated with the CIT, including price
information and respective reference data available on multiple
market platforms and financial web portals.
A CIT is a tax-exempt, pooled investment vehicle maintained by a
bank or trust company that can only accept ERISA-qualified pension
assets, including 401(a/k), 457(g), and defined benefit assets.
John Hancock Trust Company LLC was launched in response to
institutional client demand for CITs, and the CITs were first made
available to consultants, plan sponsors, and financial
professionals in 2011. Manulife Investment Management provides
investment and operational support services to John Hancock Trust
Company.1
"We're happy to announce the agreement with Nasdaq as we look to
expand both the knowledge and the adoption of CITs and ultimately
to offer investment options to help retirement plans deliver
results to participants," said Andrew G.
Arnott, head of wealth and asset management for Manulife
Investment Management, United
States and Europe. "As part
of the CIT expansion, we wanted to ensure that our clients are
provided the same transparency that they have with our mutual
funds, which has led to the registrations on the Nasdaq Fund
Network for each of our CITs."
"Nasdaq believes that our investment community is better served
with greater transparency and efficiency," said Devin McCarthy, managing director for NFN. "Our
work with John Hancock will provide
increased discoverability and data accessibility for CITs on an
interconnected and highly visible network."
In the last five years, CITs have adopted similar
characteristics that mutual funds offer, such as daily pricing,
trading through the National Securities Clearing Corporation,
quarterly fact sheets, annual audited financials, and, most
recently, Nasdaq tickers. Clients can access CIT information in the
same way and frequency that they're accustomed to when they invest
in a mutual fund.
"We believe CITs will continue to grow in market share, as
consultants and aggregators have been integral in bringing the
potential benefits of CITs to mid-market defined contribution
plans," added Todd J. Cassler, head
of institutional distribution for Manulife Investment Management,
United States and Europe. "We're excited to see how CITs have
evolved to meet the expectations of plan sponsors who seek lower
costs and flexibility that may be found in the CIT structure."
About John Hancock and
Manulife
John Hancock is a unit of
Manulife Financial Corporation, a leading international financial
services group that helps people make their decisions easier and
lives better. We operate primarily as John
Hancock in the United
States and as Manulife globally, including Canada, Asia,
and Europe. We provide financial
advice, insurance, and wealth and asset management solutions for
individuals, groups, and institutions. Assets under management and
administration by Manulife and its subsidiaries were CAD$1.3 trillion (US$1.0
trillion) as of March 31,
2021. Manulife Financial Corporation trades as MFC on the
TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be
found at manulife.com.
One of the largest life insurers in the United States, John Hancock supports more than 10 million
Americans with a broad range of financial products, including life
insurance, annuities, investments, 401(k) plans, and education
savings plans. Additional information about John Hancock may be found at
johnhancock.com.
© 2021 John Hancock. All rights reserved.
1 A
collective investment trust (CIT) is not a registered investment
company and is not subject to the same registration requirements as
a mutual fund. A CIT is a pooled investment vehicle that is
maintained by a bank or trust company for the collective investment
of qualified retirement plans. John Hancock CITs are maintained by
John Hancock Trust Company LLC, a New Hampshire nondepository trust
company.
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SOURCE John Hancock