John Hancock Trust hired Grantham Mayo Van Otterloo as a subadviser on three of its institutional strategies - the International Stock Trust, the Managed Trust and the Growth & Income Trust - effective July 29, according to an SEC filing on Monday.
GMO will replace Deutsche Asset Management as subadviser of the International Stock Trust and Wellington Management as subadviser of the Income & Growth Trust.
It will replace Capital Guardian and Independence Investment as one of the subadvisers of The Managed Trust. Capital Guardian Trust oversees 50% of The Managed Trust assets, and Independence Investment and Declaration Management and Research - both subsidiaries of Hancock parent Manulife Financial - run the remaining 30% and 20% respectively. GMO will assume responsibility for 60% of the strategy, and Declaration will manage 40%.
Tucker Hewes, a spokesman for GMO, declined to comment.
Industry sources said the filing is likely to prove the first step in a broader tie-up between Hancock and GMO that could lead to GMO serving as subadviser on a range of Hancock-branded mutual funds. Both Mr. Hewes and John Hancock Funds spokeswoman Elizabeth P. Kennedy declined to comment on the speculation.