John Hancock Investment Management has launched the John Hancock International High Dividend ETF (NYSE Arca: JHID). The new actively managed ETF is subadvised by John Hancock IM’s affiliated asset manager Manulife Investment Management (US).
The investment objective of JHID is to seek a high level of current income, with long-term growth of capital as a secondary objective. Under normal market conditions, the fund invests at least 80% of its net assets in dividend-paying large- and mid-cap equity securities of non-U.S. developed-market companies. These dividend-paying large- and mid-cap equity securities are incorporated in, or have their primary listing exchange in, developed markets, excluding the U.S.
“Advisors have increasingly been seeking out equity income ETFs given the rising rate environment and are likely to look for more international equity strategies in 2023,” said Todd Rosenbluth, head of research at VettaFi.
The launch of JHID brings John Hancock IM’s lineup of ETFs to 10 funds.
In a news release, Steve Deroian, co-head of retail product, John Hancock IM, said: “We’re aware of the hurdles investors faced this year with unique market conditions persisting and overall returns being challenged. We anticipate a demand for equity income to continue into 2023 and beyond as investors refocus their portfolios.”
The portfolio managers of JHID are Geoff Kelley, senior portfolio manager, global head of strategic asset allocation and systematic equity, multi-asset solutions team; Boncana Maiga, CFA, CIM, portfolio manager; and Ashikhusein Shahpurwala, managing director and senior portfolio manager.
Jeff Duckworth, president, U.S. intermediary distribution, John Hancock IM, added: “According to Morningstar data, $45 billion has flowed into dividend-focused ETFs over the first 10 months of this year alone. We’re pleased to provide investors with another potential yield solution that may help them address their needs for both income and diversification through exposure to non-U.S. developed-market companies.”
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