John Hancock Investments announced Friday it was cutting its fees by up to 31 percent in some of its target-date funds.

The John Hancock Retirement Living Suite is made up of 10 portfolios with target retirement dates that run from 2010 to 2055.The portfolios combine up to 50 different investment strategies from 20 managers across the globe, and asset allocation decisions are actively managed by the global asset allocation team at John Hancock Asset Management. 

John Hancock Investments said that it would lower expenses by 20 to 26 basis points across the entire suite. 

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