There isn't a Morningstar analyst's report on SVBAX but the same team appears to have managed SVBAX as managed JHancock's Large cap fund, and one of the co-managers left, leaving the Morningstar analyst saying that he would sell the fund and look elsewhere (even though the M* rating is Five Stars):

Simply put, we don't have the same level of confidence in Hamilton and Malloy as we did in Keefe. Hamilton has skippered the equity sleeve of JHancock Balanced caseConvert('SVBAX')SVBAX since January 2003, and Malloy has contributed to strong results at his other charge JHancock Small Cap Intrinsic Value caseConvert('JHIAX')JHIAX since its 2005 inception. Yet Keefe had also been a comanager on both of those charges, and we viewed him as the driving force behind the team's research and execution. As a result, we consider both Hamilton and Malloy as unproven in the lead portfolio management role. Our wariness is amplified by the fact that the duo doesn't sport extensive experience in the commodity-related sectors that the fund now so heavily favors. Energy and industrial materials stocks have rallied sharply in recent years, and we think the risks of a sharp and sudden reversal are likely to increase. Without greater comfort in management's ability to safeguard the portfolio against that risk, or to ascertain when backing off its current bets may be prudent, we'd recommend investors here pocket their winnings and look elsewhere.

So my question is whether one shouldn't also be worried about the management of SVBAX without Hothand Hamilton.  You pays your money and you takes your chance.