A Little Friday File Fun

And now it's time for FRIDAY FILES!

In Orange, Vermont, about 250 pigs escaped their enclosure and so far are costing a farmer $81,955. Most of the pigs were lured back to the farm by farm workers and volunteers using hot dog buns. However, “The pigs have been allowed and remain to be allowed in the town right of way so cars are unable to pass, people can’t walk on the road because the pigs chase them,” said Town Clerk Angela Eastman, according to the Associated Press. A town official checks daily, counting and taking photos of the animals. The fine is based on the number of pigs in the right-of way.

In New Smyrna Beach, Florida, most surfers like to catch air, but one was unlucky in his landing. A man flew into the air off his last wave of the day and unfortunately landed on top of a 6-foot-plus shark. The shark bit four fingers of his left hand and his left calf and shin. The Huffington Post reports the injuries were not life threatening.

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In Nashville, Tennessee, exorcists advised a Catholic school priest to ban Harry Potter books, over fears the popular children’s novels could be used to summon spirits. “The curses and spells used in the books are actual curses and spells; which when read by a human being risk conjuring evil spirits into the presence of the person reading the text,” the reverend said in an email obtained by local media. Rebecca Hammel, the superintendent of schools for the Catholic Diocese of Nashville, told the newspaper The Tennessean that Reehil had “canonical authority to make such decisions.”

In Jacksonville, Florida, it started as a light-hearted challenge between a Florida couple, but the husband parked his smart car in his kitchen to protect it from Hurricane Dorian because he didn’t want it to “blow away” and to prove that he can park his car there. According to the Associated Press, the wife said her car was already parked in the garage, and to avoid cleaning it out, her husband proposed to park his car in the house. “I’m hoping he will pull it out pretty soon once the wind dies down,” she said. “There is room and it’s not in the way, but my dogs are confused by it.”

In Big Sky, Montana, a hotel had an unwanted guest sleeping across the sinks in a ladies’ bathroom. Buck’s T-4 Lodge shared a video of a young black bear entering the bathroom through a window. According to the Huffington Post, despite efforts to allow the bear to leave on, he opted to kick back and nap across the countertop Eventually, a team of police and wildlife officers was able to give the bear a tranquilizer and carry it out to be released in a more remote area.I’ve heard we all have a twin.

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Parrots in conversation. They’re very affectionate.

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Cat finds this instrument intriguing, yet disturbing.

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Investment Product and Service Launches

John Hancock announces second round of reduced fees, and Voya Financial releases new TDF solution.

Art by Jackson Epstein

Art by Jackson Epstein

John Hancock Announces Second Round of Reduced Fees

John Hancock Investment Management, a company of Manulife Investment Management, has announced expense reductions on additional funds, representing a combination of direct management fee cuts, contractual expense cap reductions, and new breakpoints primarily sourced through growing economies of scale, providing further value to shareholders.

Expense reductions of up to seven basis points vary by fund and class and provide immediate cost savings to shareholders. The reductions decrease these funds’ fees by an average of 5.25 basis points.

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The funds affected are John Hancock Investment Grade Bond Fund, John Hancock Disciplined Value International Fund, John Hancock New Opportunities Fund, and John Hancock Fundamental All Cap Core Fund and were made effective on July 1. Front-end sales charges on Class A shares of both John Hancock Balanced Fund and John Hancock Multimanager Lifestyle Portfolios were also reduced effective on August 1.

This is the second announcement made this year by John Hancock Investment Management regarding expense reductions. These fee reductions for John Hancock Multifactor Sector ETF suite, John Hancock Floating Rate Income Fund, and John Hancock Small Cap Value Fund were made effective on the first of January. They are consistent with John Hancock’s approach to building a multimanager network of specialized asset managers, through a rigorous investment oversight and due diligence process, to offer the best choices to shareholders, the firm says.

“Our shareholders are looking for the best place to invest, and regardless of how an investor implements our funds, comparing funds and fees is a part of the process to build a portfolio that suits an investor’s risk-and-return profile,” says Andrew Arnott, president and CEO of John Hancock Investment Management and head of Wealth and Asset Management at Manulife Investment Management, United States and Europe. “We continue to reduce fees across our offering so investors may find even more value when making their investment decisions.”

Additional information on these expense reductions, including details about the impact on other fund share classes, can be found in the funds’ latest prospectuses.

Voya Financial Releases New TDF Solution

Voya Financial, Inc. announced that its retirement business has added a new target-date fund (TDF) solution.

Designed by flexPATH Strategies Inc., MyCompass Index is now available to all of Voya’s retirement plan customers. The new solution is designed to address retirement needs of individual plan participants.

“As one of the most widely used investment options in defined contribution plans, target-date funds provide a relatively simple way for Americans to save and invest for retirement,” says Charlie Nelson, CEO of Retirement and Employee Benefits at Voya Financial. “However, we recognize that many individuals have diverse financial goals and risk tolerances, which may not be defined by a date alone. MyCompass Index combines the ease of target-date fund selection with the unique needs of plan participants.”

Voya’s MyCompass Index leverages the expertise of flexPATH retirement planning capabilities along with fund management from experts in the marketplace, including Voya’s own stable-value capabilities. In addition to a competitive expense structure and integrated enrollment experience, the solution also offers participants added protection against market volatility and uncertainty. 

The MyCompass Index includes features and benefits such as multiple participant glide paths; fund name transparency; and fiduciary protection.

“We understand that no two individuals are alike when it comes to planning for their future,” says Jeff Cimini, senior vice president, Retirement Product Management at Voya Financial. “The reality is that most plan sponsors and their participants today are looking for investment solutions that are more tailored to their individual needs. We’re excited to offer the new MyCompass Index solution to participants, as it provides a unique saving solution that is truly focused on the individual, helping them to secure the best possible retirement outcome.”

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