US-based Manulife unit John Hancock Funds has re-opened its flagship Classic Value Fund to new investors as it prepares for a public float. The $9.7 billion fund was closed to new investors in September last year because of strong cash inflows, but manager Pzena Investment Manager says an influx of new investors will allow a better balance of cash inflows and outflows. Prenza said in August that it was looking to sell 6.4 million shares in the fund and raise around $150 million.