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  • Seller
  • Buyer
  • Type
  • Date Announced
  • Seller AUM
  • M.S.B. Fund (Advised by Shay Assets Management)
  • John Hancock Funds
  • Mutual Fund
  • June 1, 2003
  • $50 Million

Seller Details

Shay Assets Management, Inc. is a privately held, Chicago-based investment adviser, specializing in the management of fixed income & large-cap equity assets. The company manages approximately $6.4 billion of assets across nine mutual funds. The M.S.B. Fund is a diversified, large-cap blend mutual fund managed by Shay Assets Management.

Buyer Details

John Hancock Funds, a wholly-owned subsidiary of John Hancock Financial Services, Inc., manages approximately $28 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.

Transaction Summary

John Hancock Advisers has acquired the assets and shareholder base of the M.S.B. Fund, Inc. JHA's strategic objective is to acquire top performing mutual funds to fill gaps in investment styles where it lacks superior product. The M.S.B. Fund will be part of the John Hancock family of funds and be known as John Hancock Large Cap Select Fund. JHA will distribute the fund through its network of general agents, broker-dealers, direct brokerage, financial planners and banks. This distribution system coupled with the John Hancock brand and reputation will provide a substantial platform for growth of the fund. JHA will retain Shay Assets Management as subadvisor to the fund. The transaction will create financial and strategic benefits for both parties by combining the investment expertise and stellar track record of Shay Assets Management with the distribution and marketing strength of JHA.

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