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JOHN HANCOCK ACQUIRES MANAGEMENT OF TWO FUNDS

 JOHN HANCOCK ACQUIRES MANAGEMENT OF TWO FUNDS
 BOSTON, Dec. 9 /PRNewswire/ -- John Hancock Mutual Funds announced


today the investment manager for its family of funds, John Hancock Advisers, Inc., has finalized an agreement with American Fund Advisors, Inc. (AFA) of New York to manage two mutual funds previously run by AFA. The deal is the culmination of a letter of intent the two firms signed last July.
 The funds -- National Aviation & Technology Fund and John Hancock Global Technology Fund (formerly National Telecommunications & Technology Fund) -- will be part of Hancock's sector fund group. The funds have combined assets of approximately $106 million, $73 million in National Aviation and $33 million in Global Technology. The transaction was ratified by a majority of both funds' shareholders, said Edward J. Boudreau, Jr., chairman of John Hancock Mutual Funds.
 Both funds will retain their current portfolio managers, who have more than 45 years of combined experience, Boudreau noted. Barry J. Gordon, president of AFA, will continue as manager of National Aviation, a fund founded by legendary World War I flying ace Eddie Rickenbacker. Marc H. Klee, senior vice president of AFA, will manage Global Technology. AFA will serve as sub-adviser to the funds.
 The agreement represents another step in Hancock's aggressive expansion program, raising the number of funds it manages to 20. Earlier this year, Hancock acquired the management of Sovereign Investors Fund, a highly rated growth and income fund with more than $159 million in assets. In addition, Hancock has a pending agreement to acquire The Patriot Group, investment manager of approximately $700 million in three closed-end funds.
 "These two funds add to our line of existing sector funds: Global Rx Fund, which concentrates on worldwide health-care related investment opportunities and World Fund -- Pacific Basin Portfolio," Boudreau said. "Sector funds have a narrower focus on individual industries and global markets, so they're not for everybody. But investors with a long-term time horizon and a solid, diversified investment base may find that funds like these meet some of their specific investment objectives," Boudreau added.
 John Hancock Mutual Funds is affiliated with John Hancock Mutual Life Insurance Company, one of the nation's most recognized and respected financial services firms.
 -0- 12/9/91
 /CONTACT: Bill Benintende of John Hancock Mutual Funds, 617-375-1883/ CO: John Hancock Mutual Funds ST: Massachusetts IN: FIN SU: TNM


KM-PB -- NE012 -- 0561 12/09/91 12:47 EST
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Publication:PR Newswire
Date:Dec 9, 1991
Words:396
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