Products January 14, 2013

Hancock Adopts Turner Fund

John Hancock Funds has relaunched the Turner International Growth Fund as the John Hancock International Growth Equity Fund.

Reported by

The fund, sold through financial advisers to retail investors, uses fundamental research to invest in 60 to 80 international growth equity stocks with market capitalizations of $2 billion or more and above-average earnings prospects.

“The addition of our International Growth Equity Fund expands the range of international equity fund offerings we can offer advisers and their clients,” said Andrew G. Arnott, president and CEO of John Hancock Funds. “With its growth orientation, it is a further complement to our product line, which also includes our International Value Equity Fund, sub-advised by John Hancock Asset Management, and our International Core Fund, sub-advised by GMO.”

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This fund adoption from Turner Investments marks John Hancock Funds’ 13th fund adoption since 2002. “Fund adoptions have played a key role in recent years in our growth strategy and will continue to be important for us going forward,” Arnott said.

Deals & People January 14, 2013

ING U.S. Hires Fixed Annuities Unit Head

David Bedard was named president of the annuities business division of ING U.S. 
Reported by

In his new role, Bedard will be responsible for products, financial management and the operating performance of the fixed annuity business, part of the firm’s retirement solutions division. He will also join the retirement solutions executive team, collaborating on overall business strategy and direction.

Bedard has a broad range of annuity and financial expertise. He has more than 25 years of experience in financial leadership positions at insurance and financial services organizations. 

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Most recently, Bedard was executive vice president of global annuities for The Hartford Financial Services Group after serving as the chief financial officer of the firm’s wealth management business. Previously, he was senior vice president and chief financial officer for the U.S. life and agency division of New York Life Insurance Company, where he also served as senior managing director and chief financial officer for New York Life Investments. Bedard held leadership positions earlier in his career at MassMutual and Coopers & Lybrand.

Bedard, who will be based in ING U.S.’ Windsor, Connecticut, office, will report to Maliz Beams, chief executive of ING U.S. retirement solutions. His appointment is effective January 28, 2013. 

Bedard, who is a certified public accountant, holds a bachlor’s degree in business administration from Nichols College in Massachusetts. He is a member of the Nichols Board of Trustees and chairman of its audit committee. 

ING U.S.’ retirement solutions business comprises the retirement and annuities segments, and provides retirement plans and individual retirement products and guidance in the U.S. The annuities segment includes fixed, fixed-index and immediate annuities.

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