The 20 Rising Stars of Mutual Funds 2008 - (Page 11) 1. ANDREW ARNOTT Senior Vice President, Product Management and Development John Hancock Funds, Boston Age: 35 Education: Boston University (B.S. in Business Administration); Northeastern University (M.S.F. in Finance) Mentors: Keith Hartstein, President and CEO, John Hancock Funds; James Shepherdson, President, AXA Distributors Arnott is responsible for the management, positioning, development and rationalization of John Hancock’s U.S.based open-end funds, closed-end funds and separately-managed accounts and oversees $52 billion in assets under management. He joined John Hancock Funds in 1993 in product development and, in 1998, became a v.p. and director of marketing and product development, overseeing development of mutual funds and annuities. He has held his current post since February 2005. Arnott has spearheaded acquisitions, adoptions and strategic asset management partnerships for all of John Hancock’s retail and institutional product lines, describing his biggest challenge as finding ways to propel the funds forward. In the 1990s, he and then-Chairman and CEO Maureen Ford spearheaded the development of a fund adoption strategy, the basic premise of which was adopting institutional money managers that did not have retail distribution as sub-advisors— a strategy emulated by other funds. “We came along and proposed a strategic transaction where we acquired the fund,” Arnott said. “John Hancock became the advisor, and the people we were buying from became the sub-advisor.” One such transaction, which Arnott called a landmark deal, was John Hancock’s adoption in 2005 of eight JANUARY 2008 GMO funds through a subadvisory arrangement, in which GMO became a sub-advisor to variable annuities and retirement planning at John Hancock and to new portfolios for those platforms. “We continue to execute this strategy,” he added. 1. ARNOTT ANDREW 2. CALDWELL BRENDAN Manager, Synergy Asset Management Caldwell was recruited to his current firm in 1995 from RBC Dominion Securities, where he was an investment advisor, by his father, who he calls his best boss. “We work very much as a team at Caldwell,” he said. “He has an extraordinary vision for what will unfold.” For example, the Caldwell American Fund shifted to a global focus due to the strong Canadian dollar and was re-launched by Caldwell in 2006 as the Caldwell Exchange Fund, which has been the top performing global equity fund since its inception. In September 2004, Caldwell took over management of the Caldwell Canada Fund and changed it from a primarily large-cap fund to “more of a price momentum fund” focused on the best per forming stocks in Canada, which resulted in it becoming the best per forming equities fund in Canada in 2006. In addition, he serves as portfolio manager for the Caldwell Balanced Fund, the top-per forming balanced fund in Canada in 2006, and is the president of Caldwell Securities, which with Caldwell Investment Management services private clients, municipalities, charities, foundations and public companies. Caldwell sees more of an international presence for the firm within the MUTUAL FUND RISING STARS 11 Arnott, who has spoken about product development at the Massachusetts CPA Society, said the funds that will gain market share in 10 years are those that build retirement strategies. Having overseen the development of a retirement income strategy project at John Hancock, he noted that there is a shift in retirement asset allocation to alternatives, such as endowmenttype investments, because of investors’ mentality of living off savings. Arnott said the company he most admires is Eaton Vance. “Their ability to read market demands has been incredible,” he added. But he calls mentor Hartstein, with whom he has worked at Hancock for 15 years, his best boss. “I pretty much grew up at John Hancock.” 2. BRENDAN CALDWELL President and CEO Caldwell Investment Management, Toronto Age: 37 Education: Trinity College at the University of Toronto (B.Sc.); University of London (M.A. in English Literature) Mentors: Thomas Caldwell, Founder and Chairman, Caldwell Financial; Michael Lee-Chin, Chairman, AIC Limited; David Picton, Portfolio
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