Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Small Cap Value Fund (Class A/JSCAX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
|
The fund has designated Russell 3000 Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
TriMas Corp. | |
Gulfport Energy Corp. | |
National Bank Holdings Corp., Class A | |
Synovus Financial Corp. | |
Bread Financial Holdings, Inc. | |
Hancock Whitney Corp. | |
Belden, Inc. | |
Seacoast Banking Corp. of Florida | |
Enterprise Financial Services Corp. | |
Cadence Bank | |
Financials | |
Industrials | |
Real estate | |
Consumer discretionary | |
Materials | |
Information technology | |
Energy | |
Health care | |
Utilities | |
Consumer staples | |
Communication services | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Small Cap Value Fund (Class I/JSCBX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
Russell 3000 Index | 26.14% | 15.19% | 12.36% |
Russell 2000 Value Index | 19.25% | 10.38% | 7.46% |
|
The fund has designated Russell 3000 Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
TriMas Corp. | |
Gulfport Energy Corp. | |
National Bank Holdings Corp., Class A | |
Synovus Financial Corp. | |
Bread Financial Holdings, Inc. | |
Hancock Whitney Corp. | |
Belden, Inc. | |
Seacoast Banking Corp. of Florida | |
Enterprise Financial Services Corp. | |
Cadence Bank | |
Financials | |
Industrials | |
Real estate | |
Consumer discretionary | |
Materials | |
Information technology | |
Energy | |
Health care | |
Utilities | |
Consumer staples | |
Communication services | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Small Cap Value Fund (Class NAV/JSCNX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
Russell 3000 Index | 26.14% | 15.19% | 12.36% |
Russell 2000 Value Index | 19.25% | 10.38% | 7.46% |
|
The fund has designated Russell 3000 Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
TriMas Corp. | |
Gulfport Energy Corp. | |
National Bank Holdings Corp., Class A | |
Synovus Financial Corp. | |
Bread Financial Holdings, Inc. | |
Hancock Whitney Corp. | |
Belden, Inc. | |
Seacoast Banking Corp. of Florida | |
Enterprise Financial Services Corp. | |
Cadence Bank | |
Financials | |
Industrials | |
Real estate | |
Consumer discretionary | |
Materials | |
Information technology | |
Energy | |
Health care | |
Utilities | |
Consumer staples | |
Communication services | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Small Cap Value Fund (Class R6/JSCCX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
Russell 3000 Index | 26.14% | 15.19% | 12.36% |
Russell 2000 Value Index | 19.25% | 10.38% | 7.46% |
|
The fund has designated Russell 3000 Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
TriMas Corp. | |
Gulfport Energy Corp. | |
National Bank Holdings Corp., Class A | |
Synovus Financial Corp. | |
Bread Financial Holdings, Inc. | |
Hancock Whitney Corp. | |
Belden, Inc. | |
Seacoast Banking Corp. of Florida | |
Enterprise Financial Services Corp. | |
Cadence Bank | |
Financials | |
Industrials | |
Real estate | |
Consumer discretionary | |
Materials | |
Information technology | |
Energy | |
Health care | |
Utilities | |
Consumer staples | |
Communication services | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Small Cap Dynamic Growth Fund (Class A/JSJAX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
Russell 3000 Index | 26.14% | 15.19% | 12.36% |
|
The fund has designated Russell 3000 Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
|
Class A shares were first offered 3-27-18. Returns prior to this date are those of Class NAV shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
FTAI Aviation, Ltd. | |
The Ensign Group, Inc. | |
Parsons Corp. | |
Hamilton Lane, Inc., Class A | |
Crane Company | |
Q2 Holdings, Inc. | |
AeroVironment, Inc. | |
Casey's General Stores, Inc. | |
Modine Manufacturing Company | |
Federal Signal Corp. | |
Industrials | |
Information technology | |
Health care | |
Financials | |
Consumer discretionary | |
Consumer staples | |
Energy | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Small Cap Dynamic Growth Fund (Class C/JSJCX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
Russell 3000 Index | 26.14% | 15.19% | 12.36% |
Russell 2000 Growth Index | 17.67% | 8.35% | 8.21% |
|
The fund has designated Russell 3000 Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
|
Class C shares were first offered 3-27-18. Returns prior to this date are those of Class NAV shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
FTAI Aviation, Ltd. | |
The Ensign Group, Inc. | |
Parsons Corp. | |
Hamilton Lane, Inc., Class A | |
Crane Company | |
Q2 Holdings, Inc. | |
AeroVironment, Inc. | |
Casey's General Stores, Inc. | |
Modine Manufacturing Company | |
Federal Signal Corp. | |
Industrials | |
Information technology | |
Health care | |
Financials | |
Consumer discretionary | |
Consumer staples | |
Energy | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Small Cap Dynamic Growth Fund (Class I/JSJIX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
Russell 3000 Index | 26.14% | 15.19% | 12.36% |
Russell 2000 Growth Index | 17.67% | 8.35% | 8.21% |
|
The fund has designated Russell 3000 Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
|
Class I shares were first offered 3-27-18. Returns prior to this date are those of Class NAV shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
FTAI Aviation, Ltd. | |
The Ensign Group, Inc. | |
Parsons Corp. | |
Hamilton Lane, Inc., Class A | |
Crane Company | |
Q2 Holdings, Inc. | |
AeroVironment, Inc. | |
Casey's General Stores, Inc. | |
Modine Manufacturing Company | |
Federal Signal Corp. | |
Industrials | |
Information technology | |
Health care | |
Financials | |
Consumer discretionary | |
Consumer staples | |
Energy | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Small Cap Dynamic Growth Fund (Class NAV) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
Russell 3000 Index | 26.14% | 15.19% | 12.36% |
Russell 2000 Growth Index | 17.67% | 8.35% | 8.21% |
|
The fund has designated Russell 3000 Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
FTAI Aviation, Ltd. | |
The Ensign Group, Inc. | |
Parsons Corp. | |
Hamilton Lane, Inc., Class A | |
Crane Company | |
Q2 Holdings, Inc. | |
AeroVironment, Inc. | |
Casey's General Stores, Inc. | |
Modine Manufacturing Company | |
Federal Signal Corp. | |
Industrials | |
Information technology | |
Health care | |
Financials | |
Consumer discretionary | |
Consumer staples | |
Energy | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Small Cap Dynamic Growth Fund (Class R6/JSJFX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
Russell 3000 Index | 26.14% | 15.19% | 12.36% |
Russell 2000 Growth Index | 17.67% | 8.35% | 8.21% |
|
The fund has designated Russell 3000 Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
|
Class R6 shares were first offered 3-27-18. Returns prior to this date are those of Class NAV shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
FTAI Aviation, Ltd. | |
The Ensign Group, Inc. | |
Parsons Corp. | |
Hamilton Lane, Inc., Class A | |
Crane Company | |
Q2 Holdings, Inc. | |
AeroVironment, Inc. | |
Casey's General Stores, Inc. | |
Modine Manufacturing Company | |
Federal Signal Corp. | |
Industrials | |
Information technology | |
Health care | |
Financials | |
Consumer discretionary | |
Consumer staples | |
Energy | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Real Estate Securities Fund (Class 1/JIREX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
|
The fund has designated S&P 500 Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
Prologis, Inc. | |
Equinix, Inc. | |
Welltower, Inc. | |
AvalonBay Communities, Inc. | |
Essex Property Trust, Inc. | |
Extra Space Storage, Inc. | |
Simon Property Group, Inc. | |
Essential Properties Realty Trust, Inc. | |
SL Green Realty Corp. | |
Digital Realty Trust, Inc. | |
Specialized REITs | |
Residential REITs | |
Industrial REITs | |
Health care REITs | |
Retail REITs | |
Diversified REITs | |
Office REITs | |
Hotels, restaurants and leisure | |
Health care providers and services | |
Real estate management and development | |
Hotel and resort REITs | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Real Estate Securities Fund (Class A/JYEBX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
S&P 500 Index | 27.14% | 15.92% | 12.98% |
Dow Jones U.S. Select REIT Index | 21.13% | 4.43% | 6.11% |
|
The fund has designated S&P 500 Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
|
Class A shares were first offered 12-2-20. Returns prior to this date are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
Prologis, Inc. | |
Equinix, Inc. | |
Welltower, Inc. | |
AvalonBay Communities, Inc. | |
Essex Property Trust, Inc. | |
Extra Space Storage, Inc. | |
Simon Property Group, Inc. | |
Essential Properties Realty Trust, Inc. | |
SL Green Realty Corp. | |
Digital Realty Trust, Inc. | |
Specialized REITs | |
Residential REITs | |
Industrial REITs | |
Health care REITs | |
Retail REITs | |
Diversified REITs | |
Office REITs | |
Hotels, restaurants and leisure | |
Health care providers and services | |
Real estate management and development | |
Hotel and resort REITs | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Real Estate Securities Fund (Class C/JABFX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
S&P 500 Index | 27.14% | 15.92% | 12.98% |
Dow Jones U.S. Select REIT Index | 21.13% | 4.43% | 6.11% |
|
The fund has designated S&P 500 Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
|
Class C shares were first offered 12-2-20. Returns prior to this date are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
Prologis, Inc. | |
Equinix, Inc. | |
Welltower, Inc. | |
AvalonBay Communities, Inc. | |
Essex Property Trust, Inc. | |
Extra Space Storage, Inc. | |
Simon Property Group, Inc. | |
Essential Properties Realty Trust, Inc. | |
SL Green Realty Corp. | |
Digital Realty Trust, Inc. | |
Specialized REITs | |
Residential REITs | |
Industrial REITs | |
Health care REITs | |
Retail REITs | |
Diversified REITs | |
Office REITs | |
Hotels, restaurants and leisure | |
Health care providers and services | |
Real estate management and development | |
Hotel and resort REITs | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Real Estate Securities Fund (Class I/JABGX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
S&P 500 Index | 27.14% | 15.92% | 12.98% |
Dow Jones U.S. Select REIT Index | 21.13% | 4.43% | 6.11% |
|
The fund has designated S&P 500 Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
|
Class I shares were first offered 12-2-20. Returns prior to this date are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
Prologis, Inc. | |
Equinix, Inc. | |
Welltower, Inc. | |
AvalonBay Communities, Inc. | |
Essex Property Trust, Inc. | |
Extra Space Storage, Inc. | |
Simon Property Group, Inc. | |
Essential Properties Realty Trust, Inc. | |
SL Green Realty Corp. | |
Digital Realty Trust, Inc. | |
Specialized REITs | |
Residential REITs | |
Industrial REITs | |
Health care REITs | |
Retail REITs | |
Diversified REITs | |
Office REITs | |
Hotels, restaurants and leisure | |
Health care providers and services | |
Real estate management and development | |
Hotel and resort REITs | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Real Estate Securities Fund (Class R6/JABIX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
S&P 500 Index | 27.14% | 15.92% | 12.98% |
Dow Jones U.S. Select REIT Index | 21.13% | 4.43% | 6.11% |
|
The fund has designated S&P 500 Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
|
Class R6 shares were first offered 12-2-20. Returns prior to this date are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
Prologis, Inc. | |
Equinix, Inc. | |
Welltower, Inc. | |
AvalonBay Communities, Inc. | |
Essex Property Trust, Inc. | |
Extra Space Storage, Inc. | |
Simon Property Group, Inc. | |
Essential Properties Realty Trust, Inc. | |
SL Green Realty Corp. | |
Digital Realty Trust, Inc. | |
Specialized REITs | |
Residential REITs | |
Industrial REITs | |
Health care REITs | |
Retail REITs | |
Diversified REITs | |
Office REITs | |
Hotels, restaurants and leisure | |
Health care providers and services | |
Real estate management and development | |
Hotel and resort REITs | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Blue Chip Growth Fund (Class 1/JIBCX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
S&P 500 Index | 27.14% | 15.92% | 12.98% |
|
The fund has designated S&P 500 Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
Microsoft Corp. | |
NVIDIA Corp. | |
Apple, Inc. | |
Amazon.com, Inc. | |
Alphabet, Inc., Class C | |
Meta Platforms, Inc., Class A | |
Eli Lilly & Company | |
Visa, Inc., Class A | |
Mastercard, Inc., Class A | |
ServiceNow, Inc. | |
Information technology | |
Communication services | |
Consumer discretionary | |
Health care | |
Financials | |
Industrials | |
Consumer staples | |
Materials | |
Utilities | |
Energy | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Blue Chip Growth Fund (Class A/JBGAX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
S&P 500 Index | 27.14% | 15.92% | 12.98% |
Russell 1000 Growth Index | 30.75% | 19.08% | 16.03% |
|
The fund has designated S&P 500 Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
|
Class A shares were first offered on 3-27-15. Returns prior to this date are those of Class NAV shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
Microsoft Corp. | |
NVIDIA Corp. | |
Apple, Inc. | |
Amazon.com, Inc. | |
Alphabet, Inc., Class C | |
Meta Platforms, Inc., Class A | |
Eli Lilly & Company | |
Visa, Inc., Class A | |
Mastercard, Inc., Class A | |
ServiceNow, Inc. | |
Information technology | |
Communication services | |
Consumer discretionary | |
Health care | |
Financials | |
Industrials | |
Consumer staples | |
Materials | |
Utilities | |
Energy | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Blue Chip Growth Fund (Class C/JBGCX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
S&P 500 Index | 27.14% | 15.92% | 12.98% |
Russell 1000 Growth Index | 30.75% | 19.08% | 16.03% |
|
The fund has designated S&P 500 Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
|
Class C shares were first offered on 3-27-15. Returns prior to this date are those of Class NAV shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
Microsoft Corp. | |
NVIDIA Corp. | |
Apple, Inc. | |
Amazon.com, Inc. | |
Alphabet, Inc., Class C | |
Meta Platforms, Inc., Class A | |
Eli Lilly & Company | |
Visa, Inc., Class A | |
Mastercard, Inc., Class A | |
ServiceNow, Inc. | |
Information technology | |
Communication services | |
Consumer discretionary | |
Health care | |
Financials | |
Industrials | |
Consumer staples | |
Materials | |
Utilities | |
Energy | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Blue Chip Growth Fund (Class NAV/JHBCDX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
S&P 500 Index | 27.14% | 15.92% | 12.98% |
Russell 1000 Growth Index | 30.75% | 19.08% | 16.03% |
|
The fund has designated S&P 500 Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
Microsoft Corp. | |
NVIDIA Corp. | |
Apple, Inc. | |
Amazon.com, Inc. | |
Alphabet, Inc., Class C | |
Meta Platforms, Inc., Class A | |
Eli Lilly & Company | |
Visa, Inc., Class A | |
Mastercard, Inc., Class A | |
ServiceNow, Inc. | |
Information technology | |
Communication services | |
Consumer discretionary | |
Health care | |
Financials | |
Industrials | |
Consumer staples | |
Materials | |
Utilities | |
Energy | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Alternative Asset Allocation Fund (Class A/JAAAX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
( |
|||
|
The fund has designated Bloomberg U.S. Aggregate Bond Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
Affiliated investment companies | |
Absolute return strategies | |
Alternative investment approaches | |
Alternative markets | |
Unaffiliated investment companies | |
Absolute return strategies | |
Alternative investment approaches | |
Alternative markets | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Alternative Asset Allocation Fund (Class C/JAACX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.04)% | 1.64% |
HFRX Global Hedge Fund Index | 5.75% | 3.19% | 1.62% |
|
The fund has designated Bloomberg U.S. Aggregate Bond Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
Affiliated investment companies | |
Absolute return strategies | |
Alternative investment approaches | |
Alternative markets | |
Unaffiliated investment companies | |
Absolute return strategies | |
Alternative investment approaches | |
Alternative markets | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Alternative Asset Allocation Fund (Class I/JAAIX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.04)% | 1.64% |
HFRX Global Hedge Fund Index | 5.75% | 3.19% | 1.62% |
|
The fund has designated Bloomberg U.S. Aggregate Bond Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
Affiliated investment companies | |
Absolute return strategies | |
Alternative investment approaches | |
Alternative markets | |
Unaffiliated investment companies | |
Absolute return strategies | |
Alternative investment approaches | |
Alternative markets | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Alternative Asset Allocation Fund (Class R2/JAAPX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.04)% | 1.64% |
HFRX Global Hedge Fund Index | 5.75% | 3.19% | 1.62% |
|
The fund has designated Bloomberg U.S. Aggregate Bond Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
Affiliated investment companies | |
Absolute return strategies | |
Alternative investment approaches | |
Alternative markets | |
Unaffiliated investment companies | |
Absolute return strategies | |
Alternative investment approaches | |
Alternative markets | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Alternative Asset Allocation Fund (Class R4/JAASX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.04)% | 1.64% |
HFRX Global Hedge Fund Index | 5.75% | 3.19% | 1.62% |
|
The fund has designated Bloomberg U.S. Aggregate Bond Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
Affiliated investment companies | |
Absolute return strategies | |
Alternative investment approaches | |
Alternative markets | |
Unaffiliated investment companies | |
Absolute return strategies | |
Alternative investment approaches | |
Alternative markets | |
Short-term investments and other |
Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Alternative Asset Allocation Fund (Class R6/JAARX) |
$ |
AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
Bloomberg U.S. Aggregate Bond Index | 7.30% | (0.04)% | 1.64% |
HFRX Global Hedge Fund Index | 5.75% | 3.19% | 1.62% |
|
The fund has designated Bloomberg U.S. Aggregate Bond Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
Fund net assets | $ |
Total number of portfolio holdings | |
Total advisory fees paid (net) | $ |
Portfolio turnover rate |
Affiliated investment companies | |
Absolute return strategies | |
Alternative investment approaches | |
Alternative markets | |
Unaffiliated investment companies | |
Absolute return strategies | |
Alternative investment approaches | |
Alternative markets | |
Short-term investments and other |
ITEM 2. CODE OF ETHICS.
As of the end of the year, August 31, 2024, the registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its Chief Executive Officer, Chief Financial Officer and Treasurer (respectively, the principal executive officer, the principal financial officer and the principal accounting officer, the "Covered Officers"). A copy of the code of ethics is filed as an exhibit to this Form N-CSR.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Frances G. Rathke is the audit committee financial expert and is "independent", pursuant to general instructions on Form N-CSR Item 3.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
(a) Audit Fees
The aggregate fees billed for professional services rendered by the principal accountant for the audits of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements amounted to $190,385 and $183,468 for the fiscal years ended August 31, 2024 and August 31, 2023, respectively. These fees were billed to the registrant and were approved by the registrant's audit committee.
(b) Audit-Related Services
Audit-related fees for assurance and related services by the principal accountant are billed to the registrant or to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser ("control affiliates") that provides ongoing services to the registrant. The nature of the services provided was affiliated service provider internal controls reviews, security counts pursuant to Rule 17f-2 under the Investment Company Act of 1940, and a software licensing fee. Amounts billed to the registrant were $8,460 and $7,573 for fiscal years ended August 31, 2024 and August 31, 2023, respectively.
Amounts billed to control affiliates were $145,263 and $127,986 for the fiscal years ended August 31, 2024 and August 31, 2023, respectively.
(c) Tax Fees
The aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning ("tax fees") amounted to $3,090 and $6,497 for the fiscal years ended August 31, 2024 and August 31, 2023, respectively. The nature of the services comprising the tax fees was the review of the registrant's tax returns and tax distribution requirements. These fees were billed to the registrant and were approved by the registrant's audit committee.
(d) All Other Fees
Other fees amounted to $1,847 and $0 for the fiscal years ended August 31, 2024 and August 31, 2023, respectively. The nature of the services comprising all other fees is advisory services provided to the investment manager. These fees were approved by the registrant's audit committee.
(e)(1) Audit Committee Pre-Approval Policies and Procedures
The registrant's Audit Committee must pre-approve all audit and non-audit services provided by the independent registered public accounting firm (the "Auditor") relating to the operations or financial reporting of the funds. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.
The registrant's Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee's consideration of audit-related and non-audit services by the Auditor. The policies and procedures require that any audit-related and non-audit service provided by the Auditor and any non-audit service provided by the Auditor to a fund service provider that relates directly to the operations and financial reporting of a fund are subject to approval by the Audit Committee before such service is provided. Audit-related services provided by the Auditor that are expected to exceed $25,000 per year/per fund are subject to specific pre-approval by the Audit Committee. Tax services provided by the Auditor that are expected to exceed $30,000 per year/per fund are subject to specific pre-approval by the Audit Committee.
All audit services, as well as the audit-related and non-audit services that are expected to exceed the amounts stated above, must be approved in advance of provision of the service by formal resolution of the Audit Committee. At the regularly scheduled Audit Committee meetings, the Committee reviews a report summarizing the services, including fees, provided by the Auditor.
(e)(2) Services approved pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X
Audit-Related Fees, Tax Fees and All Other Fees
There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception under Rule 2-01 of Regulation S-X.
(f) According to the registrant's principal accountant for the fiscal year ended August 31, 2024, the percentage of hours spent on the audit of the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons who were not full-time, permanent employees of principal accountant was less than 50%.
(g) The aggregate non-audit fees billed by the registrant's principal accountant for non-audit services rendered to the registrant and rendered to the registrant's control affiliates were $870,275 for the fiscal year ended August 31, 2024 and $1,425,414 for the fiscal year ended August 31, 2023.
(h) The audit committee of the registrant has considered the non-audit services provided by the registrant's principal accountant to the control affiliates and has determined that the services that were not pre-approved are compatible with maintaining the principal accountant's independence.
(i) Not applicable.
(j) Not applicable.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
The registrant has a separately-designated standing audit committee comprised of independent trustees. The members of the audit committee are as follows:
Frances G. Rathke – Chairperson
William H. Cunningham
Hassell H. McClellan
ITEM 6. SCHEDULE OF INVESTMENTS.
(a) Refer to information included in Item 7.
(b) Not applicable.
ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.
The Registrant prepared financial statements and financial highlights for the year ended August 31, 2024 for the following funds:
John Hancock Funds II
John Hancock Alternative Asset Allocation Fund
John Hancock Blue Chip Growth Fund
John Hancock Real Estate Securities Fund
John Hancock Small Cap Dynamic Growth Fund
John Hancock Small Cap Value Fund
1 | JOHN HANCOCK ALTERNATIVE ASSET ALLOCATION FUND | |
Shares | Value | ||||
Affiliated investment companies (A) 58.3% | $458,676,236 | ||||
(Cost $423,551,717) | |||||
Absolute return strategies 33.3% | 262,205,940 | ||||
Diversified Macro, Class NAV, JHIT (Graham) | 6,282,705 | 56,544,348 | |||
Multi-Asset Absolute Return, Class NAV, JHF II (NIMNAI) (B) | 9,749,265 | 103,634,688 | |||
NYLI Merger Arbitrage ETF (C)(D) | 953,897 | 31,221,049 | |||
The Arbitrage Fund, Class I (C) | 5,240,996 | 70,805,855 | |||
Alternative investment approaches 18.6% | 146,594,410 | ||||
Seaport Long/Short, Class NAV, JHIT (Wellington) | 6,812,389 | 85,495,476 | |||
Strategic Income Opportunities, Class NAV, JHF II (MIM US) (E) | 6,043,416 | 61,098,934 | |||
Alternative markets 6.4% | 49,875,886 | ||||
Infrastructure, Class NAV, JHIT (Wellington) | 2,387,088 | 36,116,636 | |||
Invesco DB Precious Metals Fund (C) | 227,729 | 13,759,250 | |||
Unaffiliated investment companies 37.7% | $297,117,497 | ||||
(Cost $268,157,204) | |||||
Absolute return strategies 22.7% | 179,078,670 | ||||
Calamos Market Neutral Income Fund | 4,388,442 | 65,036,706 | |||
Victory Market Neutral Income Fund | 8,780,317 | 74,369,281 | |||
Virtus AlphaSimplex Managed Futures Strategy Fund | 4,427,755 | 39,672,683 | |||
Alternative investment approaches 12.5% | 98,454,908 | ||||
JPMorgan Hedged Equity Fund | 3,058,556 | 98,454,908 | |||
Alternative markets 2.5% | 19,583,919 | ||||
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (D) | 718,658 | 9,586,898 | |||
Vanguard Real Estate ETF | 105,088 | 9,997,021 | |||
Yield (%) | Shares | Value | |||
Short-term investments 5.1% | $40,255,662 | ||||
(Cost $40,235,624) | |||||
Short-term funds 5.1% | 40,255,662 | ||||
John Hancock Collateral Trust (F) | 5.2747(G) | 4,025,727 | 40,255,662 |
Total investments (Cost $731,944,545) 101.1% | $796,049,395 | ||||
Other assets and liabilities, net (1.1%) | (8,519,466) | ||||
Total net assets 100.0% | $787,529,929 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
Security Abbreviations and Legend | |
JHF II | John Hancock Funds II |
JHIT | John Hancock Investment Trust |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK ALTERNATIVE ASSET ALLOCATION FUND | 2 |
(A) | The underlying funds’ subadvisor is shown parenthetically. |
(B) | Non-income producing. |
(C) | The fund owns 5% or more of the outstanding voting shares of the issuer and the security is considered an affiliate of the fund. For more information on this security refer to the Notes to financial statements. |
(D) | All or a portion of this security is on loan as of 8-31-24. |
(E) | The subadvisor is an affiliate of the advisor. |
(F) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $8,948,856. |
(G) | The rate shown is the annualized seven-day yield as of 8-31-24. |
Subadvisors of Affiliated Underlying Funds | |
Graham Capital Management, L.P. | (Graham) |
Manulife Investment Management (US) LLC | (MIM US) |
Nordea Investment Management North America, Inc. | (NIMNAI) |
Wellington Management Company LLP | (Wellington) |
3 | JOHN HANCOCK ALTERNATIVE ASSET ALLOCATION FUND | | SEE NOTES TO FINANCIAL STATEMENTS |
Assets | |
Unaffiliated investments, at value (Cost $268,157,204) including $10,109,825 of securities loaned | $297,117,497 |
Affiliated investments, at value (Cost $463,787,341) | 498,931,898 |
Total investments, at value (Cost $731,944,545) | 796,049,395 |
Dividends and interest receivable | 334,281 |
Receivable for fund shares sold | 1,345,352 |
Receivable for investments sold | 5,622 |
Receivable for securities lending income | 5,389 |
Receivable from affiliates | 7,638 |
Other assets | 101,574 |
Total assets | 797,849,251 |
Liabilities | |
Due to custodian | 84,509 |
Payable for investments purchased | 336,547 |
Payable for fund shares repurchased | 713,596 |
Payable upon return of securities loaned | 8,967,318 |
Payable to affiliates | |
Accounting and legal services fees | 25,488 |
Transfer agent fees | 70,393 |
Distribution and service fees | 142 |
Trustees’ fees | 752 |
Other liabilities and accrued expenses | 120,577 |
Total liabilities | 10,319,322 |
Net assets | $787,529,929 |
Net assets consist of | |
Paid-in capital | $767,243,306 |
Total distributable earnings (loss) | 20,286,623 |
Net assets | $787,529,929 |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK Alternative Asset Allocation Fund | 4 |
Net asset value per share | |
Based on net asset value and shares outstanding - the fund has an unlimited number of shares authorized with no par value | |
Class A ($57,411,872 ÷ 3,596,701 shares)1 | $15.96 |
Class C ($4,880,811 ÷ 305,761 shares)1 | $15.96 |
Class I ($694,480,168 ÷ 43,420,245 shares) | $15.99 |
Class R2 ($622,321 ÷ 39,045 shares) | $15.94 |
Class R4 ($140,831 ÷ 8,800 shares) | $16.00 |
Class R6 ($29,993,926 ÷ 1,873,471 shares) | $16.01 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $16.80 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
5 | JOHN HANCOCK Alternative Asset Allocation Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
Investment income | |
Dividends from affiliated investments | $9,997,767 |
Dividends | 6,425,886 |
Securities lending | 50,039 |
Total investment income | 16,473,692 |
Expenses | |
Investment management fees | 3,532,623 |
Distribution and service fees | 245,174 |
Accounting and legal services fees | 154,675 |
Transfer agent fees | 865,942 |
Trustees’ fees | 17,919 |
Custodian fees | 39,197 |
State registration fees | 134,813 |
Printing and postage | 73,982 |
Professional fees | 90,388 |
Other | 52,349 |
Total expenses | 5,207,062 |
Less expense reductions | (1,422,795) |
Net expenses | 3,784,267 |
Net investment income | 12,689,425 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments | 1,215,623 |
Affiliated investments | (5,656,549) |
Capital gain distributions received from unaffiliated investments | 1,806,576 |
Capital gain distributions received from affiliated investments | 2,585,271 |
(49,079) | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments | 10,618,528 |
Affiliated investments | 34,921,459 |
45,539,987 | |
Net realized and unrealized gain | 45,490,908 |
Increase in net assets from operations | $58,180,333 |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK Alternative Asset Allocation Fund | 6 |
Year ended 8-31-24 | Year ended 8-31-23 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $12,689,425 | $20,739,742 |
Net realized gain (loss) | (49,079) | 7,875,194 |
Change in net unrealized appreciation (depreciation) | 45,539,987 | 3,055,803 |
Increase in net assets resulting from operations | 58,180,333 | 31,670,739 |
Distributions to shareholders | ||
From earnings | ||
Class A | (1,002,053) | (2,173,302) |
Class C | (67,664) | (198,996) |
Class I | (12,983,785) | (20,633,976) |
Class R2 | (19,758) | (27,745) |
Class R4 | (2,363) | (3,724) |
Class R6 | (626,428) | (924,684) |
Total distributions | (14,702,051) | (23,962,427) |
From fund share transactions | (14,121,761) | 108,938,502 |
Total increase | 29,356,521 | 116,646,814 |
Net assets | ||
Beginning of year | 758,173,408 | 641,526,594 |
End of year | $787,529,929 | $758,173,408 |
7 | JOHN HANCOCK Alternative Asset Allocation Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS A SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $15.10 | $14.98 | $15.70 | $14.57 | $14.66 |
Net investment income1,2 | 0.21 | 0.40 | 0.23 | 0.07 | 0.09 |
Net realized and unrealized gain (loss) on investments | 0.91 | 0.16 | (0.69) | 1.17 | 0.31 |
Total from investment operations | 1.12 | 0.56 | (0.46) | 1.24 | 0.40 |
Less distributions | |||||
From net investment income | (0.20) | (0.34) | (0.24) | (0.03) | (0.27) |
From net realized gain | (0.06) | (0.10) | (0.02) | (0.08) | (0.22) |
Total distributions | (0.26) | (0.44) | (0.26) | (0.11) | (0.49) |
Net asset value, end of period | $15.96 | $15.10 | $14.98 | $15.70 | $14.57 |
Total return (%)3,4 | 7.51 | 3.86 | (2.95) | 8.55 | 2.74 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $57 | $60 | $73 | $68 | $62 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions5 | 0.95 | 0.95 | 0.90 | 0.88 | 0.88 |
Expenses including reductions5 | 0.76 | 0.76 | 0.72 | 0.66 | 0.66 |
Net investment income2 | 1.39 | 2.69 | 1.47 | 0.47 | 0.63 |
Portfolio turnover (%) | 24 | 30 | 13 | 25 | 37 |
1 | Based on average daily shares outstanding. |
2 | Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the fund invests. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Does not reflect the effect of sales charges, if any. |
5 | Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the fund. |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK Alternative Asset Allocation Fund | 8 |
CLASS C SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $15.10 | $14.98 | $15.70 | $14.58 | $14.67 |
Net investment income (loss)1,2 | 0.12 | 0.29 | 0.13 | (0.03) | (0.01) |
Net realized and unrealized gain (loss) on investments | 0.89 | 0.16 | (0.69) | 1.16 | 0.31 |
Total from investment operations | 1.01 | 0.45 | (0.56) | 1.13 | 0.30 |
Less distributions | |||||
From net investment income | (0.09) | (0.23) | (0.14) | — | (0.17) |
From net realized gain | (0.06) | (0.10) | (0.02) | (0.01) | (0.22) |
Total distributions | (0.15) | (0.33) | (0.16) | (0.01) | (0.39) |
Net asset value, end of period | $15.96 | $15.10 | $14.98 | $15.70 | $14.58 |
Total return (%)3,4 | 6.77 | 3.11 | (3.62) | 7.77 | 2.04 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $5 | $7 | $11 | $17 | $31 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions5 | 1.65 | 1.65 | 1.60 | 1.58 | 1.58 |
Expenses including reductions5 | 1.46 | 1.46 | 1.41 | 1.36 | 1.36 |
Net investment income (loss)2 | 0.76 | 1.93 | 0.86 | (0.21) | (0.06) |
Portfolio turnover (%) | 24 | 30 | 13 | 25 | 37 |
1 | Based on average daily shares outstanding. |
2 | Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the fund invests. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Does not reflect the effect of sales charges, if any. |
5 | Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the fund. |
9 | JOHN HANCOCK Alternative Asset Allocation Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS I SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $15.13 | $15.01 | $15.73 | $14.59 | $14.68 |
Net investment income1,2 | 0.26 | 0.43 | 0.26 | 0.12 | 0.14 |
Net realized and unrealized gain (loss) on investments | 0.90 | 0.17 | (0.67) | 1.17 | 0.30 |
Total from investment operations | 1.16 | 0.60 | (0.41) | 1.29 | 0.44 |
Less distributions | |||||
From net investment income | (0.24) | (0.38) | (0.29) | (0.07) | (0.31) |
From net realized gain | (0.06) | (0.10) | (0.02) | (0.08) | (0.22) |
Total distributions | (0.30) | (0.48) | (0.31) | (0.15) | (0.53) |
Net asset value, end of period | $15.99 | $15.13 | $15.01 | $15.73 | $14.59 |
Total return (%)3 | 7.81 | 4.17 | (2.66) | 8.92 | 3.04 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $694 | $660 | $529 | $374 | $347 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions4 | 0.65 | 0.65 | 0.60 | 0.58 | 0.58 |
Expenses including reductions4 | 0.46 | 0.46 | 0.42 | 0.36 | 0.36 |
Net investment income2 | 1.66 | 2.90 | 1.67 | 0.76 | 0.95 |
Portfolio turnover (%) | 24 | 30 | 13 | 25 | 37 |
1 | Based on average daily shares outstanding. |
2 | Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the fund invests. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the fund. |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK Alternative Asset Allocation Fund | 10 |
CLASS R2 SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $15.08 | $14.95 | $15.67 | $14.55 | $14.64 |
Net investment income1,2 | 0.17 | 0.25 | 0.22 | 0.06 | 0.08 |
Net realized and unrealized gain (loss) on investments | 0.94 | 0.30 | (0.69) | 1.16 | 0.31 |
Total from investment operations | 1.11 | 0.55 | (0.47) | 1.22 | 0.39 |
Less distributions | |||||
From net investment income | (0.19) | (0.32) | (0.23) | (0.02) | (0.26) |
From net realized gain | (0.06) | (0.10) | (0.02) | (0.08) | (0.22) |
Total distributions | (0.25) | (0.42) | (0.25) | (0.10) | (0.48) |
Net asset value, end of period | $15.94 | $15.08 | $14.95 | $15.67 | $14.55 |
Total return (%)3 | 7.43 | 3.82 | (3.04) | 8.41 | 2.65 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1 | $3 | $1 | $1 | $1 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions4 | 1.04 | 1.04 | 0.99 | 0.95 | 0.96 |
Expenses including reductions4 | 0.85 | 0.85 | 0.81 | 0.74 | 0.75 |
Net investment income2 | 1.13 | 1.67 | 1.45 | 0.38 | 0.54 |
Portfolio turnover (%) | 24 | 30 | 13 | 25 | 37 |
1 | Based on average daily shares outstanding. |
2 | Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the fund invests. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the fund. |
11 | JOHN HANCOCK Alternative Asset Allocation Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R4 SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $15.14 | $15.01 | $15.73 | $14.60 | $14.69 |
Net investment income1,2 | 0.24 | 0.41 | 0.21 | 0.10 | 0.07 |
Net realized and unrealized gain (loss) on investments | 0.90 | 0.18 | (0.64) | 1.16 | 0.35 |
Total from investment operations | 1.14 | 0.59 | (0.43) | 1.26 | 0.42 |
Less distributions | |||||
From net investment income | (0.22) | (0.36) | (0.27) | (0.05) | (0.29) |
From net realized gain | (0.06) | (0.10) | (0.02) | (0.08) | (0.22) |
Total distributions | (0.28) | (0.46) | (0.29) | (0.13) | (0.51) |
Net asset value, end of period | $16.00 | $15.14 | $15.01 | $15.73 | $14.60 |
Total return (%)3 | 7.66 | 4.06 | (2.78) | 8.70 | 2.91 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $—4 | $—4 | $—4 | $—4 | $—4 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions5 | 0.88 | 0.89 | 0.84 | 0.83 | 0.81 |
Expenses including reductions5 | 0.60 | 0.60 | 0.56 | 0.51 | 0.50 |
Net investment income2 | 1.53 | 2.75 | 1.41 | 0.68 | 0.45 |
Portfolio turnover (%) | 24 | 30 | 13 | 25 | 37 |
1 | Based on average daily shares outstanding. |
2 | Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the fund invests. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Less than $500,000. |
5 | Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the fund. |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK Alternative Asset Allocation Fund | 12 |
CLASS R6 SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $15.14 | $15.02 | $15.74 | $14.60 | $14.69 |
Net investment income1,2 | 0.28 | 0.45 | 0.27 | 0.13 | 0.14 |
Net realized and unrealized gain (loss) on investments | 0.91 | 0.17 | (0.66) | 1.18 | 0.32 |
Total from investment operations | 1.19 | 0.62 | (0.39) | 1.31 | 0.46 |
Less distributions | |||||
From net investment income | (0.26) | (0.40) | (0.31) | (0.09) | (0.33) |
From net realized gain | (0.06) | (0.10) | (0.02) | (0.08) | (0.22) |
Total distributions | (0.32) | (0.50) | (0.33) | (0.17) | (0.55) |
Net asset value, end of period | $16.01 | $15.14 | $15.02 | $15.74 | $14.60 |
Total return (%)3 | 7.98 | 4.25 | (2.55) | 9.02 | 3.15 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $30 | $28 | $27 | $21 | $22 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions4 | 0.53 | 0.54 | 0.49 | 0.48 | 0.46 |
Expenses including reductions4 | 0.35 | 0.35 | 0.31 | 0.26 | 0.25 |
Net investment income2 | 1.82 | 2.99 | 1.74 | 0.88 | 1.01 |
Portfolio turnover (%) | 24 | 30 | 13 | 25 | 37 |
1 | Based on average daily shares outstanding. |
2 | Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the fund invests. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the fund. |
13 | JOHN HANCOCK Alternative Asset Allocation Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
| JOHN HANCOCK Alternative Asset Allocation Fund | 14 |
15 | JOHN HANCOCK Alternative Asset Allocation Fund | |
| JOHN HANCOCK Alternative Asset Allocation Fund | 16 |
August 31, 2024 | August 31, 2023 | |
Ordinary income | $14,702,051 | $23,962,427 |
First $5.0 billion of average net assets | Excess over $5.0 billion of average net assets | |
Assets in a fund of the Trust or JHF III | 0.100% | 0.075% |
Other assets | 0.550% | 0.525% |
17 | JOHN HANCOCK Alternative Asset Allocation Fund | |
| JOHN HANCOCK Alternative Asset Allocation Fund | 18 |
Class | Rule 12b-1 Fee | Service fee |
Class A | 0.30% | — |
Class C | 1.00% | — |
Class R2 | 0.25% | 0.25% |
Class R4 | 0.25% | 0.10% |
Class | Distribution and service fees | Transfer agent fees |
Class A | $176,422 | $68,517 |
Class C | 61,294 | 7,159 |
Class I | — | 788,651 |
Class R2 | 7,003 | 74 |
Class R4 | 455 | 7 |
Class R6 | — | 1,534 |
Total | $245,174 | $865,942 |
19 | JOHN HANCOCK Alternative Asset Allocation Fund | |
Year Ended 8-31-24 | Year Ended 8-31-23 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 333,162 | $5,125,090 | 620,355 | $9,191,860 |
Distributions reinvested | 64,465 | 974,069 | 146,858 | 2,122,095 |
Repurchased | (794,761) | (12,251,282) | (1,670,002) | (24,775,499) |
Net decrease | (397,134) | $(6,152,123) | (902,789) | $(13,461,544) |
Class C shares | ||||
Sold | 45,471 | $694,359 | 51,285 | $759,484 |
Distributions reinvested | 4,454 | 67,664 | 13,666 | 198,423 |
Repurchased | (218,774) | (3,373,127) | (306,151) | (4,542,124) |
Net decrease | (168,849) | $(2,611,104) | (241,200) | $(3,584,217) |
Class I shares | ||||
Sold | 15,651,128 | $240,342,215 | 25,705,834 | $382,033,630 |
Distributions reinvested | 842,170 | 12,725,186 | 1,377,863 | 19,910,119 |
Repurchased | (16,701,032) | (256,809,781) | (18,720,646) | (278,008,520) |
Net increase (decrease) | (207,734) | $(3,742,380) | 8,363,051 | $123,935,229 |
Class R2 shares | ||||
Sold | 10,985 | $166,071 | 147,595 | $2,195,602 |
Distributions reinvested | 1,184 | 17,871 | 1,667 | 24,067 |
Repurchased | (172,164) | (2,618,924) | (17,606) | (261,935) |
Net increase (decrease) | (159,995) | $(2,434,982) | 131,656 | $1,957,734 |
Class R4 shares | ||||
Sold | 1,423 | $21,844 | 994 | $14,766 |
Distributions reinvested | 156 | 2,363 | 257 | 3,724 |
Repurchased | (379) | (5,945) | (1,476) | (22,027) |
Net increase (decrease) | 1,200 | $18,262 | (225) | $(3,537) |
Class R6 shares | ||||
Sold | 849,078 | $13,031,192 | 712,045 | $10,574,599 |
Distributions reinvested | 40,465 | 611,832 | 63,992 | 924,684 |
Repurchased | (833,281) | (12,842,458) | (766,984) | (11,404,446) |
Net increase | 56,262 | $800,566 | 9,053 | $94,837 |
Total net increase (decrease) | (876,250) | $(14,121,761) | 7,359,546 | $108,938,502 |
| JOHN HANCOCK Alternative Asset Allocation Fund | 20 |
Fund | Underlying fund’s net assets |
John Hancock Funds II Multi-Asset Absolute Return Fund | 31.6% |
John Hancock Investment Trust Seaport Long/Short Fund | 18.5% |
John Hancock Investment Trust Infrastructure Fund | 6.3% |
Dividends and distributions | |||||||||
Affiliate | Ending share amount | Beginning value | Cost of purchases | Proceeds from shares sold | Realized gain (loss) | Change in unrealized appreciation (depreciation) | Income distributions received | Capital gain distributions received | Ending value |
Diversified Macro | 6,282,705 | $61,026,450 | $17,205,244 | $(19,337,271) | $(873,484) | $(1,476,591) | $993,934 | $1,351,042 | $56,544,348 |
Infrastructure | 2,387,088 | 35,687,553 | 7,126,043 | (14,174,904) | 824,426 | 6,653,518 | 983,665 | — | 36,116,636 |
John Hancock Collateral Trust* | 4,025,727 | 37,604,230 | 150,786,383 | (148,144,230) | 3,201 | 6,078 | 1,702,358 | — | 40,255,662 |
Multi-Asset Absolute Return | 9,749,265 | 99,069,307 | 10,147,361 | (11,327,674) | 110,185 | 5,635,509 | — | — | 103,634,688 |
Seaport Long/Short | 6,812,389 | 84,366,725 | 9,162,211 | (16,250,904) | (220,565) | 8,438,009 | 2,734,429 | — | 85,495,476 |
Strategic Income Opportunities | 6,043,416 | 57,276,250 | 9,174,458 | (7,797,839) | (630,828) | 3,076,893 | 2,123,252 | — | 61,098,934 |
$(787,065) | $22,333,416 | $8,537,638 | $1,351,042 | $383,145,744 |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
21 | JOHN HANCOCK Alternative Asset Allocation Fund | |
Dividends and distributions | |||||||||
Affiliate | Ending share amount | Beginning value | Cost of purchases | Proceeds from shares sold | Realized gain (loss) | Change in unrealized appreciation (depreciation) | Income distributions received | Capital gain distributions received | Ending value |
Credit Suisse Managed Futures Strategy Fund | — | $42,375,962 | — | $(42,012,220) | $(7,778,697) | $7,414,955 | — | — | — |
Invesco DB Precious Metals Fund | 227,729 | 22,803,807 | $6,145,144 | (19,267,571) | 2,907,652 | 1,170,218 | $983,727 | — | $13,759,250 |
NYLI Merger Arbitrage ETF | 953,897 | 29,837,437 | 3,996,892 | (3,899,063) | (41,275) | 1,327,058 | 355,432 | — | 31,221,049 |
The Arbitrage Fund, Class I | 5,240,996 | 68,654,756 | 7,164,687 | (7,732,236) | 42,836 | 2,675,812 | 171,009 | $1,234,229 | 70,805,855 |
$(4,869,484) | $12,588,043 | $1,510,168 | $1,234,229 | $115,786,154 |
| JOHN HANCOCK Alternative Asset Allocation Fund | 22 |
23 | JOHN HANCOCK ALTERNATIVE ASSET ALLOCATION FUND | |
| JOHN HANCOCK ALTERNATIVE ASSET ALLOCATION FUND | 24 |
25 | JOHN HANCOCK ALTERNATIVE ASSET ALLOCATION FUND | |
(a) | the skills and competency with which the Advisor has in the past managed the Trust’s affairs and its subadvisory relationship, the Advisor’s oversight and monitoring of the Subadvisor’s investment performance and compliance programs, such as the Subadvisor’s compliance with fund policies and objectives, review of brokerage matters, including with respect to trade allocation and best execution and the Advisor’s timeliness in responding to performance issues; |
(b) | the background, qualifications and skills of the Advisor’s personnel; |
(c) | the Advisor’s compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments; |
(d) | the Advisor’s administrative capabilities, including its ability to supervise the other service providers for the fund, as well as the Advisor’s oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the fund, and bringing loss recovery actions on behalf of the fund; |
(e) | the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the fund; |
| JOHN HANCOCK ALTERNATIVE ASSET ALLOCATION FUND | 26 |
(f) | the Advisor’s initiatives intended to improve various aspects of the Trust’s operations and investor experience with the fund; and |
(g) | the Advisor’s reputation and experience in serving as an investment advisor to the Trust and the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of investments. |
(a) | reviewed information prepared by management regarding the fund’s performance; |
(b) | considered the comparative performance of an applicable benchmark index; |
(c) | considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of fund data; and |
(d) | took into account the Advisor’s analysis of the fund’s performance and its plans and recommendations regarding the Trust’s subadvisory arrangements generally. |
27 | JOHN HANCOCK ALTERNATIVE ASSET ALLOCATION FUND | |
(a) | reviewed financial information of the Advisor; |
(b) | reviewed and considered information presented by the Advisor regarding the net profitability to the Advisor and its affiliates with respect to the fund; |
(c) | received and reviewed profitability information with respect to the John Hancock Fund Complex as a whole and with respect to the fund; |
(d) | received information with respect to the Advisor’s allocation methodologies used in preparing the profitability data and considered that the Advisor hired an independent third-party consultant to provide an analysis of the Advisor’s allocation methodologies; |
(e) | considered that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain funds of the Trust and noted that these tax benefits, which are not available to participants in qualified retirement plans under applicable income tax law, are reflected in the profitability information reviewed by the Board; |
(f) | considered that the Advisor also provides administrative services to the fund on a cost basis pursuant to an administrative services agreement; |
(g) | noted that affiliates of the Advisor provide transfer agency services and distribution services to the fund, and that the fund’s distributor also receives Rule 12b-1 payments to support distribution of the fund; |
(h) | noted that the fund’s Subadvisor is an affiliate of the Advisor; |
(i) | noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the fund; |
(j) | noted that the subadvisory fees for the fund are paid by the Advisor; |
(k) | with respect to the fund, the Board noted that the advisory fee is in addition to the fees received by the Advisor and its affiliates with regard to the affiliated underlying funds in which the funds may invest; |
(l) | considered the Advisor’s ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and |
| JOHN HANCOCK ALTERNATIVE ASSET ALLOCATION FUND | 28 |
(m) | considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to the fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk. |
(a) | considered that with respect to the John Hancock underlying funds in which the fund invests, the Advisor has contractually agreed to waive a portion of its management fee such funds and for each of the other John Hancock funds in the complex (except as discussed below) with respect to the John Hancock underlying funds in which the fund invests (the participating portfolios) or otherwise reimburse the expenses of the participating portfolios (the reimbursement). This waiver is based upon aggregate net assets of all the participating portfolios. The funds that are not participating portfolios are each of the funds of funds of the Trust and John Hancock Variable Insurance Trust. The funds of funds also benefit from such overall management fee waiver through their investment in underlying funds that include certain of the participating portfolios, which are subject to reimbursement; |
(b) | reviewed the fund’s advisory fee structure and concluded that: (i) the fund’s fee structure contains breakpoints at the subadvisory fee level and that such breakpoints are reflected as breakpoints in the advisory fees for the fund; and (ii) although economies of scale cannot be measured with precision, these arrangements permit shareholders of the fund to benefit from economies of scale if the fund grows. The Board also took into account management’s discussion of the fund’s advisory fee structure; and |
(c) | the Board also considered the effect of the fund’s growth in size on its performance and fees. The Board also noted that if the fund’s assets increase over time, the fund may realize other economies of scale. |
(1) | information relating to the Subadvisor’s business, including current subadvisory services to the Trust (and other funds in the John Hancock Fund Complex); |
(2) | the historical and current performance of the fund and comparative performance information relating to an applicable benchmark index and comparable funds; and |
(3) | the subadvisory fees for the fund and to the extent available, comparable fee information prepared by an independent third party provider of fund data. |
29 | JOHN HANCOCK ALTERNATIVE ASSET ALLOCATION FUND | |
(1) | the Subadvisor has extensive experience and demonstrated skills as a manager; |
(2) | the performance of the fund has generally been in line with or outperformed the historical performance of comparable funds and the fund’s benchmark index; |
(3) | the subadvisory fee is reasonable in relation to the level and quality of services being provided under the Subadvisory Agreement; and |
(4) | noted that the subadvisory fees are paid by the Advisor not the fund. |
| JOHN HANCOCK ALTERNATIVE ASSET ALLOCATION FUND | 30 |
31 | JOHN HANCOCK ALTERNATIVE ASSET ALLOCATION FUND | |
MF3827105 | 345A 8/24 |
Shares | Value | ||||
Common stocks 98.1% | $4,210,126,007 | ||||
(Cost $1,066,400,736) | |||||
Communication services 15.2% | 652,249,487 | ||||
Entertainment 2.1% | |||||
Netflix, Inc. (A) | 110,505 | 77,502,682 | |||
Sea, Ltd., ADR (A) | 158,913 | 12,444,477 | |||
Interactive media and services 12.1% | |||||
Alphabet, Inc., Class A | 330,482 | 53,994,149 | |||
Alphabet, Inc., Class C | 1,550,132 | 255,942,295 | |||
Meta Platforms, Inc., Class A | 402,168 | 209,654,200 | |||
Wireless telecommunication services 1.0% | |||||
T-Mobile US, Inc. | 214,934 | 42,711,684 | |||
Consumer discretionary 13.9% | 598,490,852 | ||||
Automobiles 1.6% | |||||
Tesla, Inc. (A) | 332,282 | 71,144,899 | |||
Broadline retail 7.8% | |||||
Amazon.com, Inc. (A) | 1,877,197 | 335,079,665 | |||
Hotels, restaurants and leisure 2.1% | |||||
Booking Holdings, Inc. | 9,183 | 35,898,459 | |||
Chipotle Mexican Grill, Inc. (A) | 711,200 | 39,884,096 | |||
DoorDash, Inc., Class A (A) | 107,442 | 13,828,860 | |||
Specialty retail 2.2% | |||||
Carvana Company (A) | 357,615 | 53,863,971 | |||
Ross Stores, Inc. | 143,004 | 21,537,832 | |||
The TJX Companies, Inc. | 163,072 | 19,123,453 | |||
Textiles, apparel and luxury goods 0.2% | |||||
Lululemon Athletica, Inc. (A) | 23,165 | 6,010,623 | |||
NIKE, Inc., Class B | 25,432 | 2,118,994 | |||
Consumer staples 1.3% | 55,097,424 | ||||
Consumer staples distribution and retail 0.3% | |||||
Dollar General Corp. | 152,744 | 12,673,170 | |||
Food products 0.2% | |||||
Mondelez International, Inc., Class A | 136,422 | 9,796,464 | |||
Household products 0.8% | |||||
Colgate-Palmolive Company | 177,044 | 18,855,186 | |||
The Procter & Gamble Company | 80,288 | 13,772,604 | |||
Energy 0.3% | 10,709,146 | ||||
Energy equipment and services 0.3% | |||||
Schlumberger, Ltd. | 243,445 | 10,709,146 |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK BLUE CHIP GROWTH FUND | 2 |
Shares | Value | ||||
Financials 8.8% | $379,164,547 | ||||
Capital markets 1.7% | |||||
Morgan Stanley | 172,258 | 17,847,651 | |||
MSCI, Inc. | 7,427 | 4,312,042 | |||
S&P Global, Inc. | 38,248 | 19,630,404 | |||
The Charles Schwab Corp. | 195,375 | 12,718,913 | |||
The Goldman Sachs Group, Inc. | 36,247 | 18,495,032 | |||
Financial services 5.6% | |||||
Adyen NV (A)(B) | 5,690 | 8,397,321 | |||
Fiserv, Inc. (A) | 55,720 | 9,728,712 | |||
Mastercard, Inc., Class A | 211,988 | 102,462,280 | |||
Visa, Inc., Class A | 430,069 | 118,858,170 | |||
Insurance 1.5% | |||||
Chubb, Ltd. | 162,752 | 46,250,863 | |||
Marsh & McLennan Companies, Inc. | 89,944 | 20,463,159 | |||
Health care 10.9% | 467,696,473 | ||||
Health care equipment and supplies 2.2% | |||||
Intuitive Surgical, Inc. (A) | 144,795 | 71,330,361 | |||
Stryker Corp. | 65,764 | 23,702,661 | |||
Health care providers and services 2.5% | |||||
Elevance Health, Inc. | 30,073 | 16,747,353 | |||
Humana, Inc. | 45,197 | 16,020,981 | |||
UnitedHealth Group, Inc. | 125,822 | 74,260,144 | |||
Life sciences tools and services 1.7% | |||||
Danaher Corp. | 132,693 | 35,735,552 | |||
Thermo Fisher Scientific, Inc. | 57,194 | 35,178,314 | |||
Pharmaceuticals 4.5% | |||||
AstraZeneca PLC, ADR | 117,179 | 10,267,224 | |||
Eli Lilly & Company | 176,542 | 169,483,851 | |||
Zoetis, Inc. | 81,585 | 14,970,032 | |||
Industrials 1.8% | 78,179,677 | ||||
Aerospace and defense 1.0% | |||||
General Electric Company | 175,156 | 30,585,741 | |||
TransDigm Group, Inc. | 9,514 | 13,064,720 | |||
Commercial services and supplies 0.3% | |||||
Cintas Corp. | 12,608 | 10,150,953 | |||
Veralto Corp. | 34,560 | 3,885,581 | |||
Electrical equipment 0.2% | |||||
GE Vernova, Inc. (A) | 36,934 | 7,423,734 | |||
Ground transportation 0.3% | |||||
Old Dominion Freight Line, Inc. | 67,785 | 13,068,948 |
3 | JOHN HANCOCK BLUE CHIP GROWTH FUND | | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Information technology 44.3% | $1,901,724,066 | ||||
Electronic equipment, instruments and components 0.4% | |||||
TE Connectivity, Ltd. | 120,004 | 18,432,614 | |||
IT services 1.0% | |||||
MongoDB, Inc. (A) | 48,329 | 14,053,590 | |||
Shopify, Inc., Class A (A) | 328,534 | 24,334,513 | |||
Snowflake, Inc., Class A (A) | 41,520 | 4,742,830 | |||
Semiconductors and semiconductor equipment 15.5% | |||||
Advanced Micro Devices, Inc. (A) | 155,207 | 23,057,552 | |||
ASML Holding NV, NYRS | 51,274 | 46,345,030 | |||
Broadcom, Inc. | 113,320 | 18,450,762 | |||
Lam Research Corp. | 9,201 | 7,554,113 | |||
Monolithic Power Systems, Inc. | 31,070 | 29,040,508 | |||
NVIDIA Corp. | 4,297,191 | 512,955,690 | |||
Taiwan Semiconductor Manufacturing Company, Ltd., ADR | 110,638 | 18,996,545 | |||
Texas Instruments, Inc. | 32,222 | 6,906,463 | |||
Software 18.0% | |||||
Atlassian Corp., Class A (A) | 53,136 | 8,799,322 | |||
BILL Holdings, Inc. (A) | 91,404 | 4,987,002 | |||
Confluent, Inc., Class A (A) | 129,544 | 2,748,924 | |||
Crowdstrike Holdings, Inc., Class A (A) | 35,141 | 9,743,896 | |||
Datadog, Inc., Class A (A) | 59,205 | 6,883,173 | |||
Fortinet, Inc. (A) | 40,617 | 3,115,730 | |||
Intuit, Inc. | 59,131 | 37,267,904 | |||
Microsoft Corp. | 1,300,037 | 542,297,434 | |||
Roper Technologies, Inc. | 47,162 | 26,147,084 | |||
ServiceNow, Inc. (A) | 104,268 | 89,149,140 | |||
Synopsys, Inc. (A) | 77,846 | 40,447,225 | |||
Technology hardware, storage and peripherals 9.4% | |||||
Apple, Inc. | 1,769,725 | 405,267,022 | |||
Materials 0.9% | 37,608,122 | ||||
Chemicals 0.9% | |||||
Linde PLC | 38,996 | 18,649,837 | |||
The Sherwin-Williams Company | 51,326 | 18,958,285 | |||
Utilities 0.7% | 29,206,213 | ||||
Electric utilities 0.7% | |||||
Constellation Energy Corp. | 148,481 | 29,206,213 | |||
Exchange-traded funds 1.2% | $52,464,341 | ||||
(Cost $52,080,111) | |||||
iShares Russell 1000 Growth ETF | 143,557 | 52,464,341 | |||
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK BLUE CHIP GROWTH FUND | 4 |
Rate (%) | Maturity date | Par value^ | Value | ||
Corporate bonds 0.2% | $9,531,271 | ||||
(Cost $9,661,954) | |||||
Consumer discretionary 0.2% | 9,531,271 | ||||
Specialty retail 0.2% | |||||
Carvana Company (9.000% Cash or 12.000% PIK) (B) | 12.000 | 12-01-28 | 2,022,364 | 2,099,140 | |
Carvana Company (9.000% Cash or 13.000% PIK) (B) | 13.000 | 06-01-30 | 3,061,586 | 3,268,408 | |
Carvana Company (9.000% Cash or 14.000% PIK) (B) | 14.000 | 06-01-31 | 3,656,033 | 4,163,723 | |
Yield (%) | Shares | Value | |||
Short-term investments 0.6% | $23,248,032 | ||||
(Cost $23,248,032) | |||||
Short-term funds 0.6% | 23,248,032 | ||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 5.2300(C) | 23,164,164 | 23,164,164 | ||
T. Rowe Price Government Reserve Fund | 5.3251(C) | 83,868 | 83,868 |
Total investments (Cost $1,151,390,833) 100.1% | $4,295,369,651 | ||||
Other assets and liabilities, net (0.1%) | (2,269,502) | ||||
Total net assets 100.0% | $4,293,100,149 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
^All par values are denominated in U.S. dollars unless otherwise indicated. | |
Security Abbreviations and Legend | |
ADR | American Depositary Receipt |
NYRS | New York Registry Shares |
PIK | Pay-in-Kind Security - Represents a payment-in-kind which may pay interest in additional par and/or cash. Rates shown are the current rate and most recent payment rate. |
(A) | Non-income producing security. |
(B) | This security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
(C) | The rate shown is the annualized seven-day yield as of 8-31-24. |
5 | JOHN HANCOCK BLUE CHIP GROWTH FUND | | SEE NOTES TO FINANCIAL STATEMENTS |
Assets | |
Unaffiliated investments, at value (Cost $1,151,390,833) | $4,295,369,651 |
Dividends and interest receivable | 2,169,859 |
Receivable for fund shares sold | 710,354 |
Receivable for securities lending income | 19 |
Other assets | 169,615 |
Total assets | 4,298,419,498 |
Liabilities | |
Payable for investments purchased | 92,325 |
Payable for fund shares repurchased | 4,639,472 |
Payable to affiliates | |
Investment management fees | 645 |
Accounting and legal services fees | 137,119 |
Transfer agent fees | 109,318 |
Trustees’ fees | 4,064 |
Other liabilities and accrued expenses | 336,406 |
Total liabilities | 5,319,349 |
Net assets | $4,293,100,149 |
Net assets consist of | |
Paid-in capital | $917,987,348 |
Total distributable earnings (loss) | 3,375,112,801 |
Net assets | $4,293,100,149 |
Net asset value per share | |
Based on net asset value and shares outstanding - the fund has an unlimited number of shares authorized with no par value | |
Class A ($1,151,551,579 ÷ 20,191,066 shares)1 | $57.03 |
Class C ($48,332,285 ÷ 935,658 shares)1 | $51.66 |
Class 1 ($1,850,504,535 ÷ 31,110,654 shares) | $59.48 |
Class NAV ($1,242,711,750 ÷ 20,774,436 shares) | $59.82 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $60.03 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK Blue Chip Growth Fund | 6 |
Investment income | |
Dividends | $20,797,806 |
Interest | 1,062,304 |
Securities lending | 22,012 |
Less foreign taxes withheld | (103,700) |
Total investment income | 21,778,422 |
Expenses | |
Investment management fees | 28,610,569 |
Distribution and service fees | 4,332,282 |
Accounting and legal services fees | 777,647 |
Transfer agent fees | 1,224,003 |
Trustees’ fees | 87,263 |
Custodian fees | 436,845 |
State registration fees | 66,611 |
Printing and postage | 52,997 |
Professional fees | 160,345 |
Other | 114,674 |
Total expenses | 35,863,236 |
Less expense reductions | (1,547,812) |
Net expenses | 34,315,424 |
Net investment loss | (12,537,002) |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | 282,783,170 |
Affiliated investments | 2,692 |
282,785,862 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments | 904,086,862 |
Affiliated investments | (431) |
904,086,431 | |
Net realized and unrealized gain | 1,186,872,293 |
Increase in net assets from operations | $1,174,335,291 |
7 | JOHN HANCOCK Blue Chip Growth Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
Year ended 8-31-24 | Year ended 8-31-23 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment loss | $(12,537,002) | $(8,464,655) |
Net realized gain | 282,785,862 | 98,291,940 |
Change in net unrealized appreciation (depreciation) | 904,086,431 | 543,050,961 |
Increase in net assets resulting from operations | 1,174,335,291 | 632,878,246 |
Distributions to shareholders | ||
From earnings | ||
Class A | (30,432,962) | (36,078,845) |
Class C | (1,632,975) | (2,553,228) |
Class 1 | (50,725,298) | (68,639,042) |
Class NAV | (36,746,555) | (53,548,260) |
Total distributions | (119,537,790) | (160,819,375) |
From fund share transactions | (339,767,156) | (464,415,919) |
Total increase | 715,030,345 | 7,642,952 |
Net assets | ||
Beginning of year | 3,578,069,804 | 3,570,426,852 |
End of year | $4,293,100,149 | $3,578,069,804 |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK Blue Chip Growth Fund | 8 |
CLASS A SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $43.82 | $38.26 | $65.28 | $55.94 | $40.48 |
Net investment loss1 | (0.29) | (0.20) | (0.36) | (0.45) | (0.23) |
Net realized and unrealized gain (loss) on investments | 15.04 | 7.59 | (17.44) | 12.43 | 16.33 |
Total from investment operations | 14.75 | 7.39 | (17.80) | 11.98 | 16.10 |
Less distributions | |||||
From net realized gain | (1.54) | (1.83) | (9.22) | (2.64) | (0.64) |
Net asset value, end of period | $57.03 | $43.82 | $38.26 | $65.28 | $55.94 |
Total return (%)2,3 | 34.51 | 21.12 | (31.17) | 22.34 | 40.25 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1,152 | $880 | $782 | $1,190 | $943 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.19 | 1.19 | 1.19 | 1.19 | 1.21 |
Expenses including reductions | 1.14 | 1.14 | 1.14 | 1.14 | 1.14 |
Net investment loss | (0.58) | (0.53) | (0.73) | (0.79) | (0.52) |
Portfolio turnover (%) | 12 | 14 | 20 | 33 | 28 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
3 | Does not reflect the effect of sales charges, if any. |
9 | JOHN HANCOCK Blue Chip Growth Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS C SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $40.10 | $35.43 | $61.56 | $53.27 | $38.86 |
Net investment loss1 | (0.58) | (0.42) | (0.67) | (0.81) | (0.53) |
Net realized and unrealized gain (loss) on investments | 13.68 | 6.92 | (16.24) | 11.74 | 15.58 |
Total from investment operations | 13.10 | 6.50 | (16.91) | 10.93 | 15.05 |
Less distributions | |||||
From net realized gain | (1.54) | (1.83) | (9.22) | (2.64) | (0.64) |
Net asset value, end of period | $51.66 | $40.10 | $35.43 | $61.56 | $53.27 |
Total return (%)2,3 | 33.58 | 20.26 | (31.67) | 21.46 | 39.22 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $48 | $46 | $56 | $103 | $100 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.89 | 1.89 | 1.89 | 1.89 | 1.91 |
Expenses including reductions | 1.86 | 1.86 | 1.85 | 1.85 | 1.88 |
Net investment loss | (1.30) | (1.25) | (1.45) | (1.50) | (1.26) |
Portfolio turnover (%) | 12 | 14 | 20 | 33 | 28 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
3 | Does not reflect the effect of sales charges, if any. |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK Blue Chip Growth Fund | 10 |
CLASS 1 SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $45.49 | $39.50 | $66.87 | $57.05 | $41.13 |
Net investment loss1 | (0.12) | (0.07) | (0.20) | (0.25) | (0.08) |
Net realized and unrealized gain (loss) on investments | 15.65 | 7.89 | (17.95) | 12.71 | 16.64 |
Total from investment operations | 15.53 | 7.82 | (18.15) | 12.46 | 16.56 |
Less distributions | |||||
From net realized gain | (1.54) | (1.83) | (9.22) | (2.64) | (0.64) |
Net asset value, end of period | $59.48 | $45.49 | $39.50 | $66.87 | $57.05 |
Total return (%)2 | 34.97 | 21.56 | (30.93) | 22.76 | 40.74 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1,851 | $1,563 | $1,556 | $2,621 | $2,345 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.82 | 0.83 | 0.83 | 0.82 | 0.84 |
Expenses including reductions | 0.79 | 0.80 | 0.79 | 0.79 | 0.80 |
Net investment loss | (0.23) | (0.18) | (0.39) | (0.43) | (0.18) |
Portfolio turnover (%) | 12 | 14 | 20 | 33 | 28 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
11 | JOHN HANCOCK Blue Chip Growth Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS NAV SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $45.72 | $39.67 | $67.08 | $57.20 | $41.22 |
Net investment loss1 | (0.09) | (0.05) | (0.17) | (0.22) | (0.06) |
Net realized and unrealized gain (loss) on investments | 15.73 | 7.93 | (18.02) | 12.74 | 16.68 |
Total from investment operations | 15.64 | 7.88 | (18.19) | 12.52 | 16.62 |
Less distributions | |||||
From net realized gain | (1.54) | (1.83) | (9.22) | (2.64) | (0.64) |
Net asset value, end of period | $59.82 | $45.72 | $39.67 | $67.08 | $57.20 |
Total return (%)2 | 35.07 | 21.63 | (30.91) | 22.81 | 40.80 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1,243 | $1,088 | $1,177 | $1,689 | $1,732 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.77 | 0.78 | 0.78 | 0.77 | 0.79 |
Expenses including reductions | 0.74 | 0.75 | 0.74 | 0.74 | 0.75 |
Net investment loss | (0.18) | (0.13) | (0.33) | (0.38) | (0.14) |
Portfolio turnover (%) | 12 | 14 | 20 | 33 | 28 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK Blue Chip Growth Fund | 12 |
13 | JOHN HANCOCK Blue Chip Growth Fund | |
Total value at 8-31-24 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Communication services | $652,249,487 | $652,249,487 | — | — |
Consumer discretionary | 598,490,852 | 598,490,852 | — | — |
Consumer staples | 55,097,424 | 55,097,424 | — | — |
Energy | 10,709,146 | 10,709,146 | — | — |
Financials | 379,164,547 | 370,767,226 | $8,397,321 | — |
Health care | 467,696,473 | 467,696,473 | — | — |
Industrials | 78,179,677 | 78,179,677 | — | — |
Information technology | 1,901,724,066 | 1,901,724,066 | — | — |
Materials | 37,608,122 | 37,608,122 | — | — |
Utilities | 29,206,213 | 29,206,213 | — | — |
Exchange-traded funds | 52,464,341 | 52,464,341 | — | — |
Corporate bonds | 9,531,271 | — | 9,531,271 | — |
Short-term investments | 23,248,032 | 23,248,032 | — | — |
Total investments in securities | $4,295,369,651 | $4,277,441,059 | $17,928,592 | — |
| JOHN HANCOCK Blue Chip Growth Fund | 14 |
15 | JOHN HANCOCK Blue Chip Growth Fund | |
August 31, 2024 | August 31, 2023 | |
Long-term capital gains | $119,537,790 | $160,819,375 |
| JOHN HANCOCK Blue Chip Growth Fund | 16 |
17 | JOHN HANCOCK Blue Chip Growth Fund | |
Class | Rule 12b-1 Fee |
Class A | 0.30% |
Class C | 1.00% |
Class 1 | 0.05% |
| JOHN HANCOCK Blue Chip Growth Fund | 18 |
Class | Distribution and service fees | Transfer agent fees |
Class A | $3,019,193 | $1,169,649 |
Class C | 466,929 | 54,354 |
Class 1 | 846,160 | — |
Total | $4,332,282 | $1,224,003 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Lender | $ 7,560,000 | 5 | 5.805% | $ 6,095 |
Year Ended 8-31-24 | Year Ended 8-31-23 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 3,394,642 | $170,366,061 | 3,237,591 | $120,658,837 |
Distributions reinvested | 664,192 | 30,400,084 | 1,132,680 | 36,053,211 |
Repurchased | (3,955,912) | (196,585,500) | (4,720,105) | (172,104,914) |
Net increase (decrease) | 102,922 | $4,180,645 | (349,834) | $(15,392,866) |
Class C shares | ||||
Sold | 70,492 | $3,151,999 | 78,202 | $2,671,341 |
Distributions reinvested | 39,192 | 1,632,755 | 87,153 | 2,550,981 |
Repurchased | (318,538) | (14,277,817) | (603,486) | (20,118,319) |
Net decrease | (208,854) | $(9,493,063) | (438,131) | $(14,895,997) |
19 | JOHN HANCOCK Blue Chip Growth Fund | |
Year Ended 8-31-24 | Year Ended 8-31-23 | |||
Shares | Amount | Shares | Amount | |
Class 1 shares | ||||
Sold | 793,868 | $41,591,871 | 727,466 | $29,434,864 |
Distributions reinvested | 1,065,210 | 50,725,298 | 2,082,495 | 68,639,042 |
Repurchased | (5,120,625) | (258,784,920) | (7,827,265) | (300,757,956) |
Net decrease | (3,261,547) | $(166,467,751) | (5,017,304) | $(202,684,050) |
Class NAV shares | ||||
Sold | 1,655,085 | $92,399,549 | 431,034 | $16,911,292 |
Distributions reinvested | 767,632 | 36,746,555 | 1,617,284 | 53,548,260 |
Repurchased | (5,455,648) | (297,133,091) | (7,906,429) | (301,902,558) |
Net decrease | (3,032,931) | $(167,986,987) | (5,858,111) | $(231,443,006) |
Total net decrease | (6,400,410) | $(339,767,156) | (11,663,380) | $(464,415,919) |
Fund | Affiliated Concentration |
John Hancock Funds II Multimanager Lifestyle Growth Portfolio | 10.4% |
John Hancock Funds II Multimanager Lifestyle Balanced Portfolio | 6.0% |
| JOHN HANCOCK Blue Chip Growth Fund | 20 |
Dividends and distributions | |||||||||
Affiliate | Ending share amount | Beginning value | Cost of purchases | Proceeds from shares sold | Realized gain (loss) | Change in unrealized appreciation (depreciation) | Income distributions received | Capital gain distributions received | Ending value |
John Hancock Collateral Trust* | — | $5,614,297 | $183,270,852 | $(188,887,410) | $2,692 | $(431) | $22,012 | — | — |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
21 | JOHN HANCOCK Blue Chip Growth Fund | |
| JOHN HANCOCK Blue Chip Growth Fund | 22 |
23 | JOHN HANCOCK BLUE CHIP GROWTH FUND | |
| JOHN HANCOCK BLUE CHIP GROWTH FUND | 24 |
(a) | the skills and competency with which the Advisor has in the past managed the Trust’s affairs and its subadvisory relationship, the Advisor’s oversight and monitoring of the Subadvisor’s investment performance and compliance programs, such as the Subadvisor’s compliance with fund policies and objectives, review of brokerage matters, including with respect to trade allocation and best execution and the Advisor’s timeliness in responding to performance issues; |
(b) | the background, qualifications and skills of the Advisor’s personnel; |
(c) | the Advisor’s compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments; |
(d) | the Advisor’s administrative capabilities, including its ability to supervise the other service providers for the fund, as well as the Advisor’s oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the fund, and bringing loss recovery actions on behalf of the fund; |
(e) | the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the fund; |
(f) | the Advisor’s initiatives intended to improve various aspects of the Trust’s operations and investor experience with the fund; and |
25 | JOHN HANCOCK BLUE CHIP GROWTH FUND | |
(g) | the Advisor’s reputation and experience in serving as an investment advisor to the Trust and the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of investments. |
(a) | reviewed information prepared by management regarding the fund’s performance; |
(b) | considered the comparative performance of an applicable benchmark index; |
(c) | considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of fund data; and |
(d) | took into account the Advisor’s analysis of the fund’s performance and its plans and recommendations regarding the Trust’s subadvisory arrangements generally. |
| JOHN HANCOCK BLUE CHIP GROWTH FUND | 26 |
(a) | reviewed financial information of the Advisor; |
(b) | reviewed and considered information presented by the Advisor regarding the net profitability to the Advisor and its affiliates with respect to the fund; |
(c) | received and reviewed profitability information with respect to the John Hancock Fund Complex as a whole and with respect to the fund; |
(d) | received information with respect to the Advisor’s allocation methodologies used in preparing the profitability data and considered that the Advisor hired an independent third-party consultant to provide an analysis of the Advisor’s allocation methodologies; |
(e) | considered that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain funds of the Trust and noted that these tax benefits, which are not available to participants in qualified retirement plans under applicable income tax law, are reflected in the profitability information reviewed by the Board; |
(f) | considered that the Advisor also provides administrative services to the fund on a cost basis pursuant to an administrative services agreement; |
(g) | noted that affiliates of the Advisor provide transfer agency services and distribution services to the fund, and that the fund’s distributor also receives Rule 12b-1 payments to support distribution of the fund; |
(h) | noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the fund; |
(i) | noted that the subadvisory fee for the fund is paid by the Advisor and is negotiated at arm’s length; |
(j) | considered the Advisor’s ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and |
(k) | considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to the fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk. |
(a) | considered that the Advisor has contractually agreed to waive a portion of its management fee for certain funds of the John Hancock Fund Complex, including the fund (the participating portfolios) or |
27 | JOHN HANCOCK BLUE CHIP GROWTH FUND | |
otherwise reimburse the expenses of the participating portfolios (the reimbursement). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund; | |
(b) | reviewed the fund’s advisory fee structure and concluded that: (i) the fund’s fee structure contains breakpoints at the subadvisory fee level and that such breakpoints are reflected as breakpoints in the advisory fees for the fund; and (ii) although economies of scale cannot be measured with precision, these arrangements permit shareholders of the fund to benefit from economies of scale if the fund grows. The Board also took into account management’s discussion of the fund’s advisory fee structure; and |
(c) | the Board also considered the effect of the fund’s growth in size on its performance and fees. The Board also noted that if the fund’s assets increase over time, the fund may realize other economies of scale. |
(1) | information relating to the Subadvisor’s business, including current subadvisory services to the Trust (and other funds in the John Hancock Fund Complex); |
(2) | the historical and current performance of the fund and comparative performance information relating to an applicable benchmark index and comparable funds; |
(3) | the subadvisory fee for the fund, including any breakpoints, and to the extent available, comparable fee information prepared by an independent third party provider of fund data; and |
(4) | information relating to the nature and scope of any material relationships and their significance to the Trust’s Advisor and Subadvisor. |
| JOHN HANCOCK BLUE CHIP GROWTH FUND | 28 |
(1) | the Subadvisor has extensive experience and demonstrated skills as a manager; |
(2) | the performance of the fund is being monitored and reasonably addressed, where appropriate; |
(3) | the subadvisory fee is reasonable in relation to the level and quality of services being provided under the Subadvisory Agreement; and |
(4) | noted that the subadvisory fees are paid by the Advisor not the fund and that the subadvisory fee breakpoints are reflected as breakpoints in the advisory fees for the fund in order to permit shareholders to benefit from economies of scale if the fund grows. |
29 | JOHN HANCOCK BLUE CHIP GROWTH FUND | |
| JOHN HANCOCK BLUE CHIP GROWTH FUND | 30 |
MF3827155 | 457A 8/24 |
1 | JOHN HANCOCK REAL ESTATE SECURITIES FUND | |
Shares | Value | ||||
Common stocks 98.2% | $253,758,495 | ||||
(Cost $178,192,063) | |||||
Consumer discretionary 1.6% | 4,263,345 | ||||
Hotels, restaurants and leisure 1.6% | |||||
Hyatt Hotels Corp., Class A | 13,310 | 2,022,055 | |||
Marriott International, Inc., Class A | 9,550 | 2,241,290 | |||
Health care 1.2% | 3,176,613 | ||||
Health care providers and services 1.2% | |||||
Brookdale Senior Living, Inc. (A) | 446,781 | 3,176,613 | |||
Real estate 95.4% | 246,318,537 | ||||
Diversified REITs 7.2% | |||||
Broadstone Net Lease, Inc. | 139,303 | 2,549,245 | |||
Empire State Realty Trust, Inc., Class A | 620,650 | 6,696,814 | |||
Essential Properties Realty Trust, Inc. | 289,772 | 9,246,625 | |||
Health care REITs 12.6% | |||||
American Healthcare REIT, Inc. | 300,101 | 6,281,114 | |||
CareTrust REIT, Inc. | 264,693 | 7,909,027 | |||
Welltower, Inc. | 153,268 | 18,496,382 | |||
Hotel and resort REITs 1.0% | |||||
Ryman Hospitality Properties, Inc. | 24,886 | 2,587,149 | |||
Industrial REITs 15.5% | |||||
EastGroup Properties, Inc. | 18,843 | 3,512,335 | |||
Lineage, Inc. (A) | 63,667 | 5,341,661 | |||
Plymouth Industrial REIT, Inc. | 207,631 | 4,970,686 | |||
Prologis, Inc. | 204,773 | 26,174,085 | |||
Office REITs 4.3% | |||||
Cousins Properties, Inc. | 89,297 | 2,545,857 | |||
SL Green Realty Corp. | 127,182 | 8,475,408 | |||
Real estate management and development 1.0% | |||||
CBRE Group, Inc., Class A (A) | 22,778 | 2,622,659 | |||
Residential REITs 17.7% | |||||
American Homes 4 Rent, Class A | 190,076 | 7,559,323 | |||
AvalonBay Communities, Inc. | 68,504 | 15,463,408 | |||
Centerspace | 52,571 | 3,932,311 | |||
Essex Property Trust, Inc. | 47,471 | 14,326,273 | |||
Independence Realty Trust, Inc. | 219,939 | 4,570,332 | |||
Retail REITs 11.8% | |||||
Acadia Realty Trust | 256,577 | 5,775,548 | |||
Brixmor Property Group, Inc. | 248,924 | 6,818,028 | |||
Phillips Edison & Company, Inc. | 90,790 | 3,355,598 |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK REAL ESTATE SECURITIES FUND | 2 |
Shares | Value | ||||
Real estate (continued) | |||||
Retail REITs (continued) | |||||
Simon Property Group, Inc. | 62,795 | $10,508,743 | |||
Tanger, Inc. | 129,003 | 3,926,851 | |||
Specialized REITs 24.3% | |||||
American Tower Corp. | 20,711 | 4,640,507 | |||
CubeSmart | 103,420 | 5,360,259 | |||
Digital Realty Trust, Inc. | 54,989 | 8,336,882 | |||
Equinix, Inc. | 24,552 | 20,485,207 | |||
Extra Space Storage, Inc. | 67,690 | 11,981,130 | |||
Iron Mountain, Inc. | 47,283 | 5,355,273 | |||
Lamar Advertising Company, Class A | 26,198 | 3,295,184 | |||
VICI Properties, Inc. | 96,136 | 3,218,633 | |||
Yield (%) | Shares | Value | |||
Short-term investments 0.9% | $2,229,482 | ||||
(Cost $2,229,482) | |||||
Short-term funds 0.9% | 2,229,482 | ||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 5.2300(B) | 2,229,482 | 2,229,482 |
Total investments (Cost $180,421,545) 99.1% | $255,987,977 | ||||
Other assets and liabilities, net 0.9% | 2,286,819 | ||||
Total net assets 100.0% | $258,274,796 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
Security Abbreviations and Legend | |
(A) | Non-income producing security. |
(B) | The rate shown is the annualized seven-day yield as of 8-31-24. |
3 | JOHN HANCOCK REAL ESTATE SECURITIES FUND | | SEE NOTES TO FINANCIAL STATEMENTS |
Assets | |
Unaffiliated investments, at value (Cost $180,421,545) | $255,987,977 |
Dividends and interest receivable | 170,578 |
Receivable for fund shares sold | 71,654 |
Receivable for investments sold | 2,310,684 |
Receivable for securities lending income | 775 |
Other assets | 14,306 |
Total assets | 258,555,974 |
Liabilities | |
Payable for fund shares repurchased | 189,104 |
Payable to affiliates | |
Accounting and legal services fees | 7,872 |
Transfer agent fees | 1,855 |
Trustees’ fees | 226 |
Other liabilities and accrued expenses | 82,121 |
Total liabilities | 281,178 |
Net assets | $258,274,796 |
Net assets consist of | |
Paid-in capital | $208,334,116 |
Total distributable earnings (loss) | 49,940,680 |
Net assets | $258,274,796 |
Net asset value per share | |
Based on net asset value and shares outstanding - the fund has an unlimited number of shares authorized with no par value | |
Class A ($6,825,861 ÷ 531,543 shares)1 | $12.84 |
Class C ($83,507 ÷ 6,494 shares)1 | $12.86 |
Class I ($12,526,111 ÷ 974,912 shares) | $12.85 |
Class R6 ($4,822,690 ÷ 376,265 shares) | $12.82 |
Class 1 ($234,016,627 ÷ 18,252,028 shares) | $12.82 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $13.52 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK Real Estate Securities Fund | 4 |
Investment income | |
Dividends | $7,048,624 |
Interest | 629 |
Securities lending | 4,924 |
Less foreign taxes withheld | (13,486) |
Total investment income | 7,040,691 |
Expenses | |
Investment management fees | 1,667,827 |
Distribution and service fees | 123,936 |
Accounting and legal services fees | 47,201 |
Transfer agent fees | 22,996 |
Trustees’ fees | 6,112 |
Custodian fees | 39,801 |
State registration fees | 62,981 |
Printing and postage | 16,463 |
Professional fees | 61,150 |
Other | 24,648 |
Total expenses | 2,073,115 |
Less expense reductions | (18,564) |
Net expenses | 2,054,551 |
Net investment income | 4,986,140 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments | 3,081,672 |
Affiliated investments | (470) |
3,081,202 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments | 38,635,668 |
38,635,668 | |
Net realized and unrealized gain | 41,716,870 |
Increase in net assets from operations | $46,703,010 |
5 | JOHN HANCOCK Real Estate Securities Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
Year ended 8-31-24 | Year ended 8-31-23 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $4,986,140 | $5,750,734 |
Net realized gain (loss) | 3,081,202 | (20,937,040) |
Change in net unrealized appreciation (depreciation) | 38,635,668 | (262,535) |
Increase (decrease) in net assets resulting from operations | 46,703,010 | (15,448,841) |
Distributions to shareholders | ||
From earnings | ||
Class A | (127,795) | (769,265) |
Class C | (1,117) | (8,138) |
Class I | (323,155) | (588,448) |
Class R6 | (37,721) | (95,118) |
Class 1 | (5,327,110) | (30,154,185) |
Total distributions | (5,816,898) | (31,615,154) |
From fund share transactions | (28,648,766) | (16,170,945) |
Total increase (decrease) | 12,237,346 | (63,234,940) |
Net assets | ||
Beginning of year | 246,037,450 | 309,272,390 |
End of year | $258,274,796 | $246,037,450 |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK Real Estate Securities Fund | 6 |
CLASS A SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-211 |
Per share operating performance | ||||
Net asset value, beginning of period | $10.85 | $12.92 | $16.60 | $12.59 |
Net investment income2 | 0.20 | 0.21 | 0.13 | 0.03 |
Net realized and unrealized gain (loss) on investments | 2.03 | (0.90) | (1.93) | 4.18 |
Total from investment operations | 2.23 | (0.69) | (1.80) | 4.21 |
Less distributions | ||||
From net investment income | (0.24) | (0.14) | (0.08) | (0.20) |
From net realized gain | — | (1.24) | (1.80) | — |
Total distributions | (0.24) | (1.38) | (1.88) | (0.20) |
Net asset value, end of period | $12.84 | $10.85 | $12.92 | $16.60 |
Total return (%)3,4 | 20.80 | (4.82) | (12.77) | 33.985 |
Ratios and supplemental data | ||||
Net assets, end of period (in millions) | $7 | $6 | $7 | $4 |
Ratios (as a percentage of average net assets): | ||||
Expenses before reductions | 1.17 | 1.17 | 1.14 | 1.196 |
Expenses including reductions | 1.17 | 1.17 | 1.13 | 1.186 |
Net investment income | 1.77 | 1.88 | 0.88 | 0.316 |
Portfolio turnover (%) | 72 | 105 | 81 | 1227 |
1 | The inception date for Class A shares is 12-2-20. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Does not reflect the effect of sales charges, if any. |
5 | Not annualized. |
6 | Annualized. |
7 | Portfolio turnover is shown for the period from 9-1-20 to 8-31-21. |
7 | JOHN HANCOCK Real Estate Securities Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS C SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-211 |
Per share operating performance | ||||
Net asset value, beginning of period | $10.86 | $12.91 | $16.63 | $12.59 |
Net investment income (loss)2 | 0.12 | 0.13 | 0.03 | (0.03) |
Net realized and unrealized gain (loss) on investments | 2.04 | (0.91) | (1.95) | 4.18 |
Total from investment operations | 2.16 | (0.78) | (1.92) | 4.15 |
Less distributions | ||||
From net investment income | (0.16) | (0.03) | — | (0.11) |
From net realized gain | — | (1.24) | (1.80) | — |
Total distributions | (0.16) | (1.27) | (1.80) | (0.11) |
Net asset value, end of period | $12.86 | $10.86 | $12.91 | $16.63 |
Total return (%)3,4 | 20.03 | (5.56) | (13.46) | 33.255 |
Ratios and supplemental data | ||||
Net assets, end of period (in millions) | $—6 | $—6 | $—6 | $—6 |
Ratios (as a percentage of average net assets): | ||||
Expenses before reductions | 1.93 | 1.92 | 1.89 | 1.947 |
Expenses including reductions | 1.92 | 1.92 | 1.88 | 1.937 |
Net investment income (loss) | 1.06 | 1.14 | 0.19 | (0.28)7 |
Portfolio turnover (%) | 72 | 105 | 81 | 1228 |
1 | The inception date for Class C shares is 12-2-20. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Does not reflect the effect of sales charges, if any. |
5 | Not annualized. |
6 | Less than $500,000. |
7 | Annualized. |
8 | Portfolio turnover is shown for the period from 9-1-20 to 8-31-21. |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK Real Estate Securities Fund | 8 |
CLASS I SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-211 |
Per share operating performance | ||||
Net asset value, beginning of period | $10.85 | $12.93 | $16.60 | $12.59 |
Net investment income2 | 0.22 | 0.22 | 0.17 | 0.10 |
Net realized and unrealized gain (loss) on investments | 2.04 | (0.89) | (1.92) | 4.14 |
Total from investment operations | 2.26 | (0.67) | (1.75) | 4.24 |
Less distributions | ||||
From net investment income | (0.26) | (0.17) | (0.12) | (0.23) |
From net realized gain | — | (1.24) | (1.80) | — |
Total distributions | (0.26) | (1.41) | (1.92) | (0.23) |
Net asset value, end of period | $12.85 | $10.85 | $12.93 | $16.60 |
Total return (%)3 | 21.17 | (4.60) | (12.51) | 34.304 |
Ratios and supplemental data | ||||
Net assets, end of period (in millions) | $13 | $13 | $11 | $—5 |
Ratios (as a percentage of average net assets): | ||||
Expenses before reductions | 0.92 | 0.92 | 0.90 | 0.946 |
Expenses including reductions | 0.92 | 0.92 | 0.89 | 0.936 |
Net investment income | 1.99 | 1.99 | 1.25 | 0.896 |
Portfolio turnover (%) | 72 | 105 | 81 | 1227 |
1 | The inception date for Class I shares is 12-2-20. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Less than $500,000. |
6 | Annualized. |
7 | Portfolio turnover is shown for the period from 9-1-20 to 8-31-21. |
9 | JOHN HANCOCK Real Estate Securities Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R6 SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-211 |
Per share operating performance | ||||
Net asset value, beginning of period | $10.82 | $12.91 | $16.59 | $12.59 |
Net investment income2 | 0.22 | 0.24 | 0.19 | 0.12 |
Net realized and unrealized gain (loss) on investments | 2.05 | (0.90) | (1.93) | 4.12 |
Total from investment operations | 2.27 | (0.66) | (1.74) | 4.24 |
Less distributions | ||||
From net investment income | (0.27) | (0.19) | (0.14) | (0.24) |
From net realized gain | — | (1.24) | (1.80) | — |
Total distributions | (0.27) | (1.43) | (1.94) | (0.24) |
Net asset value, end of period | $12.82 | $10.82 | $12.91 | $16.59 |
Total return (%)3 | 21.34 | (4.56) | (12.48) | 34.374 |
Ratios and supplemental data | ||||
Net assets, end of period (in millions) | $5 | $1 | $1 | $—5 |
Ratios (as a percentage of average net assets): | ||||
Expenses before reductions | 0.81 | 0.82 | 0.79 | 0.836 |
Expenses including reductions | 0.81 | 0.81 | 0.78 | 0.826 |
Net investment income | 2.01 | 2.16 | 1.31 | 1.056 |
Portfolio turnover (%) | 72 | 105 | 81 | 1227 |
1 | The inception date for Class R6 shares is 12-2-20. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Less than $500,000. |
6 | Annualized. |
7 | Portfolio turnover is shown for the period from 9-1-20 to 8-31-21. |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK Real Estate Securities Fund | 10 |
CLASS 1 SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $10.82 | $12.91 | $16.59 | $12.05 | $14.55 |
Net investment income1 | 0.23 | 0.25 | 0.18 | 0.20 | 0.24 |
Net realized and unrealized gain (loss) on investments | 2.04 | (0.92) | (1.93) | 4.58 | (1.55) |
Total from investment operations | 2.27 | (0.67) | (1.75) | 4.78 | (1.31) |
Less distributions | |||||
From net investment income | (0.27) | (0.18) | (0.13) | (0.24) | (0.29) |
From net realized gain | — | (1.24) | (1.80) | — | (0.90) |
Total distributions | (0.27) | (1.42) | (1.93) | (0.24) | (1.19) |
Net asset value, end of period | $12.82 | $10.82 | $12.91 | $16.59 | $12.05 |
Total return (%)2 | 21.30 | (4.60) | (12.51) | 40.36 | (9.75) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $234 | $226 | $290 | $371 | $304 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.86 | 0.86 | 0.83 | 0.87 | 0.81 |
Expenses including reductions | 0.85 | 0.85 | 0.82 | 0.86 | 0.80 |
Net investment income | 2.11 | 2.22 | 1.19 | 1.45 | 1.86 |
Portfolio turnover (%) | 72 | 105 | 81 | 122 | 133 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
11 | JOHN HANCOCK Real Estate Securities Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
| JOHN HANCOCK Real Estate Securities Fund | 12 |
13 | JOHN HANCOCK Real Estate Securities Fund | |
August 31, 2024 | August 31, 2023 | |
Ordinary income | $5,816,898 | $3,830,884 |
Long-term capital gains | — | 27,784,270 |
| JOHN HANCOCK Real Estate Securities Fund | 14 |
August 31, 2024 | August 31, 2023 | |
Total | $5,816,898 | $31,615,154 |
15 | JOHN HANCOCK Real Estate Securities Fund | |
Class | Rule 12b-1 Fee |
Class A | 0.25% |
Class C | 1.00% |
Class 1 | 0.05% |
| JOHN HANCOCK Real Estate Securities Fund | 16 |
Class | Distribution and service fees | Transfer agent fees |
Class A | $15,133 | $7,041 |
Class C | 725 | 84 |
Class I | — | 15,743 |
Class R6 | — | 128 |
Class 1 | 108,078 | — |
Total | $123,936 | $22,996 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Lender | $1,950,000 | 2 | 5.805% | $629 |
Year Ended 8-31-24 | Year Ended 8-31-23 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 159,924 | $1,795,384 | 210,258 | $2,342,702 |
Distributions reinvested | 11,159 | 126,765 | 74,416 | 767,968 |
Repurchased | (181,393) | (2,037,073) | (322,150) | (3,536,428) |
Net decrease | (10,310) | $(114,924) | (37,476) | $(425,758) |
Class C shares | ||||
Sold | 1,102 | $13,532 | 1,398 | $15,444 |
Distributions reinvested | 43 | 497 | 296 | 3,079 |
Repurchased | (2,720) | (29,438) | (686) | (7,574) |
Net increase (decrease) | (1,575) | $(15,409) | 1,008 | $10,949 |
17 | JOHN HANCOCK Real Estate Securities Fund | |
Year Ended 8-31-24 | Year Ended 8-31-23 | |||
Shares | Amount | Shares | Amount | |
Class I shares | ||||
Sold | 1,136,088 | $12,447,569 | 1,070,674 | $11,759,648 |
Distributions reinvested | 14,235 | 161,426 | 16,708 | 172,097 |
Repurchased | (1,344,275) | (15,153,930) | (779,187) | (8,896,069) |
Net increase (decrease) | (193,952) | $(2,544,935) | 308,195 | $3,035,676 |
Class R6 shares | ||||
Sold | 322,874 | $3,639,845 | 70,528 | $780,051 |
Distributions reinvested | 3,335 | 37,721 | 9,262 | 95,118 |
Repurchased | (60,013) | (674,046) | (24,284) | (273,346) |
Net increase | 266,196 | $3,003,520 | 55,506 | $601,823 |
Class 1 shares | ||||
Sold | 445,587 | $4,973,088 | 337,404 | $3,716,296 |
Distributions reinvested | 471,009 | 5,327,110 | 2,936,143 | 30,154,185 |
Repurchased | (3,563,553) | (39,277,216) | (4,830,907) | (53,264,116) |
Net decrease | (2,646,957) | $(28,977,018) | (1,557,360) | $(19,393,635) |
Total net decrease | (2,586,598) | $(28,648,766) | (1,230,127) | $(16,170,945) |
| JOHN HANCOCK Real Estate Securities Fund | 18 |
Dividends and distributions | |||||||||
Affiliate | Ending share amount | Beginning value | Cost of purchases | Proceeds from shares sold | Realized gain (loss) | Change in unrealized appreciation (depreciation) | Income distributions received | Capital gain distributions received | Ending value |
John Hancock Collateral Trust* | — | $3,875 | $11,813,250 | $(11,816,655) | $(470) | — | $4,924 | — | — |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
19 | JOHN HANCOCK Real Estate Securities Fund | |
| JOHN HANCOCK REAL ESTATE SECURITIES FUND | 20 |
21 | JOHN HANCOCK REAL ESTATE SECURITIES FUND | |
| JOHN HANCOCK REAL ESTATE SECURITIES FUND | 22 |
(a) | the skills and competency with which the Advisor has in the past managed the Trust’s affairs and its subadvisory relationship, the Advisor’s oversight and monitoring of the Subadvisor’s investment performance and compliance programs, such as the Subadvisor’s compliance with fund policies and objectives, review of brokerage matters, including with respect to trade allocation and best execution and the Advisor’s timeliness in responding to performance issues; |
(b) | the background, qualifications and skills of the Advisor’s personnel; |
(c) | the Advisor’s compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments; |
(d) | the Advisor’s administrative capabilities, including its ability to supervise the other service providers for the fund, as well as the Advisor’s oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the fund, and bringing loss recovery actions on behalf of the fund; |
(e) | the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the fund; |
23 | JOHN HANCOCK REAL ESTATE SECURITIES FUND | |
(f) | the Advisor’s initiatives intended to improve various aspects of the Trust’s operations and investor experience with the fund; and |
(g) | the Advisor’s reputation and experience in serving as an investment advisor to the Trust and the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of investments. |
(a) | reviewed information prepared by management regarding the fund’s performance; |
(b) | considered the comparative performance of an applicable benchmark index; |
(c) | considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of fund data; and |
(d) | took into account the Advisor’s analysis of the fund’s performance and its plans and recommendations regarding the Trust’s subadvisory arrangements generally. |
| JOHN HANCOCK REAL ESTATE SECURITIES FUND | 24 |
(a) | reviewed financial information of the Advisor; |
(b) | reviewed and considered information presented by the Advisor regarding the net profitability to the Advisor and its affiliates with respect to the fund; |
(c) | received and reviewed profitability information with respect to the John Hancock Fund Complex as a whole and with respect to the fund; |
(d) | received information with respect to the Advisor’s allocation methodologies used in preparing the profitability data and considered that the Advisor hired an independent third-party consultant to provide an analysis of the Advisor’s allocation methodologies; |
(e) | considered that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain funds of the Trust and noted that these tax benefits, which are not available to participants in qualified retirement plans under applicable income tax law, are reflected in the profitability information reviewed by the Board; |
(f) | considered that the Advisor also provides administrative services to the fund on a cost basis pursuant to an administrative services agreement; |
(g) | noted that affiliates of the Advisor provide transfer agency services and distribution services to the fund, and that the fund’s distributor also receives Rule 12b-1 payments to support distribution of the fund; |
(h) | noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the fund; |
(i) | noted that the subadvisory fee for the fund is paid by the Advisor and is negotiated at arm’s length; |
(j) | considered the Advisor’s ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and |
(k) | considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to the fund and the risks that it assumes as Advisor including entrepreneurial, operational, reputational, litigation and regulatory risk. |
(a) | considered that the Advisor has contractually agreed to waive a portion of its management fee for certain funds of the John Hancock Fund Complex, including the fund (the participating portfolios) or otherwise reimburse the expenses of the participating portfolios (the reimbursement). This waiver is |
25 | JOHN HANCOCK REAL ESTATE SECURITIES FUND | |
based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund; | |
(b) | reviewed the fund’s advisory fee structure and concluded that: (i) the fund’s fee structure contains breakpoints at the subadvisory fee level and that such breakpoints are reflected as breakpoints in the advisory fees for the fund; and (ii) although economies of scale cannot be measured with precision, these arrangements permit shareholders of the fund to benefit from economies of scale if the fund grows. The Board also took into account management’s discussion of the fund’s advisory fee structure; and |
(c) | the Board also considered the effect of the fund’s growth in size on its performance and fees. The Board also noted that if the fund’s assets increase over time, the fund may realize other economies of scale. |
(1) | information relating to the Subadvisor’s businesses, including current subadvisory services to the Trust (and other funds in the John Hancock Fund Complex); |
(2) | the historical and current performance of the fund and comparative performance information relating to an applicable benchmark index and comparable funds; |
(3) | the subadvisory fees for the fund, including any breakpoints, and to the extent available, comparable fee information prepared by an independent third-party provider of fund data; and |
(4) | information relating to the nature and scope of any material relationships and their significant to the Trust’s Advisor and Subadvisor. |
| JOHN HANCOCK REAL ESTATE SECURITIES FUND | 26 |
(1) | the Subadvisor has extensive experience and demonstrated skills as a manager; |
(2) | the performance of the fund has generally been in line with or outperformed the historical performance of comparable funds and the fund’s benchmark index over the longer term; |
(3) | the subadvisory fees are reasonable in relation to the level and quality of services being provided; and |
(4) | noted that the subadvisory fees are paid by the Advisor not the fund and that the subadvisory fee breakpoints are reflected as breakpoints in the advisory fees for the fund in order to permit shareholders to benefit from economies of scale if the fund grows. |
27 | JOHN HANCOCK REAL ESTATE SECURITIES FUND | |
| JOHN HANCOCK REAL ESTATE SECURITIES FUND | 28 |
MF3827259 | 488A 8/24 |
1 | JOHN HANCOCK SMALL CAP DYNAMIC GROWTH FUND | |
Shares | Value | ||||
Common stocks 97.0% | $458,532,366 | ||||
(Cost $334,535,766) | |||||
Consumer discretionary 9.3% | 43,856,544 | ||||
Automobile components 2.9% | |||||
Modine Manufacturing Company (A) | 111,711 | 13,578,472 | |||
Hotels, restaurants and leisure 4.3% | |||||
Texas Roadhouse, Inc. | 40,510 | 6,836,063 | |||
Wingstop, Inc. | 25,141 | 9,707,192 | |||
Wyndham Hotels & Resorts, Inc. | 47,410 | 3,731,167 | |||
Household durables 2.1% | |||||
Dream Finders Homes, Inc., Class A (A) | 100,745 | 3,369,920 | |||
Installed Building Products, Inc. | 29,840 | 6,633,730 | |||
Consumer staples 6.5% | 30,724,171 | ||||
Consumer staples distribution and retail 5.7% | |||||
Casey’s General Stores, Inc. | 37,990 | 13,764,158 | |||
Sprouts Farmers Market, Inc. (A) | 127,635 | 13,280,422 | |||
Personal care products 0.8% | |||||
e.l.f. Beauty, Inc. (A) | 24,565 | 3,679,591 | |||
Energy 2.2% | 10,597,316 | ||||
Energy equipment and services 0.9% | |||||
Cactus, Inc., Class A | 70,710 | 4,208,659 | |||
Oil, gas and consumable fuels 1.3% | |||||
Matador Resources Company | 112,635 | 6,388,657 | |||
Financials 9.9% | 46,731,068 | ||||
Capital markets 8.6% | |||||
Hamilton Lane, Inc., Class A | 106,000 | 16,201,040 | |||
Moelis & Company, Class A | 91,895 | 6,137,667 | |||
Piper Sandler Companies | 22,225 | 6,060,758 | |||
Stifel Financial Corp. | 137,250 | 12,097,215 | |||
Insurance 1.3% | |||||
Kinsale Capital Group, Inc. | 12,695 | 6,234,388 | |||
Health care 16.9% | 79,839,608 | ||||
Biotechnology 3.6% | |||||
Blueprint Medicines Corp. (A) | 33,650 | 3,214,921 | |||
Geron Corp. (A) | 237,580 | 1,128,505 | |||
Insmed, Inc. (A) | 109,260 | 8,355,112 | |||
Syndax Pharmaceuticals, Inc. (A) | 85,435 | 1,755,689 | |||
United Therapeutics Corp. (A) | 6,745 | 2,452,145 |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK SMALL CAP DYNAMIC GROWTH FUND | 2 |
Shares | Value | ||||
Health care (continued) | |||||
Health care equipment and supplies 6.4% | |||||
Lantheus Holdings, Inc. (A) | 63,670 | $6,778,945 | |||
Merit Medical Systems, Inc. (A) | 132,045 | 12,766,111 | |||
TransMedics Group, Inc. (A) | 63,035 | 10,593,662 | |||
Health care providers and services 5.4% | |||||
Option Care Health, Inc. (A) | 74,585 | 2,388,212 | |||
RadNet, Inc. (A) | 93,680 | 6,210,047 | |||
The Ensign Group, Inc. | 113,805 | 17,225,525 | |||
Life sciences tools and services 0.5% | |||||
Repligen Corp. (A) | 15,221 | 2,297,306 | |||
Pharmaceuticals 1.0% | |||||
Intra-Cellular Therapies, Inc. (A) | 46,075 | 3,376,376 | |||
Supernus Pharmaceuticals, Inc. (A) | 36,890 | 1,297,052 | |||
Industrials 29.1% | 137,512,884 | ||||
Aerospace and defense 3.6% | |||||
AeroVironment, Inc. (A) | 70,980 | 14,462,885 | |||
Cadre Holdings, Inc. | 74,825 | 2,712,406 | |||
Building products 1.3% | |||||
Simpson Manufacturing Company, Inc. | 13,535 | 2,477,717 | |||
The AZEK Company, Inc. (A) | 83,505 | 3,559,818 | |||
Commercial services and supplies 2.3% | |||||
ACV Auctions, Inc., Class A (A) | 110,815 | 2,073,349 | |||
Casella Waste Systems, Inc., Class A (A) | 80,650 | 8,698,909 | |||
Machinery 10.1% | |||||
Crane Company | 98,805 | 15,648,736 | |||
Federal Signal Corp. | 142,900 | 13,502,621 | |||
RBC Bearings, Inc. (A) | 19,955 | 5,943,597 | |||
SPX Technologies, Inc. (A) | 77,360 | 12,620,510 | |||
Marine transportation 1.4% | |||||
Kirby Corp. (A) | 54,420 | 6,526,046 | |||
Professional services 6.7% | |||||
Exponent, Inc. | 51,685 | 5,595,935 | |||
FTI Consulting, Inc. (A) | 41,840 | 9,552,490 | |||
Parsons Corp. (A) | 173,772 | 16,588,275 | |||
Trading companies and distributors 3.7% | |||||
FTAI Aviation, Ltd. | 137,310 | 17,549,590 | |||
Information technology 23.1% | 109,270,775 | ||||
Electronic equipment, instruments and components 4.2% | |||||
Badger Meter, Inc. | 49,595 | 10,263,189 | |||
Novanta, Inc. (A) | 53,160 | 9,743,165 |
3 | JOHN HANCOCK SMALL CAP DYNAMIC GROWTH FUND | | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Information technology (continued) | |||||
Semiconductors and semiconductor equipment 3.8% | |||||
Camtek, Ltd. | 73,374 | $6,678,501 | |||
Nova, Ltd. (A) | 50,535 | 11,297,099 | |||
Software 15.1% | |||||
Agilysys, Inc. (A) | 60,160 | 6,804,096 | |||
Clearwater Analytics Holdings, Inc., Class A (A) | 368,930 | 9,142,085 | |||
Q2 Holdings, Inc. (A) | 199,210 | 14,783,374 | |||
SPS Commerce, Inc. (A) | 54,135 | 10,812,925 | |||
Varonis Systems, Inc. (A) | 171,530 | 9,708,598 | |||
Vertex, Inc., Class A (A) | 289,710 | 11,208,880 | |||
Zeta Global Holdings Corp., Class A (A) | 334,300 | 8,828,863 | |||
Exchange-traded funds 2.4% | $11,372,805 | ||||
(Cost $10,153,083) | |||||
iShares Russell 2000 Growth ETF | 40,500 | 11,372,805 | |||
Yield (%) | Shares | Value | |||
Short-term investments 1.1% | $5,043,345 | ||||
(Cost $5,043,345) | |||||
Short-term funds 1.1% | 5,043,345 | ||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 5.2300(B) | 5,043,345 | 5,043,345 |
Total investments (Cost $349,732,194) 100.5% | $474,948,516 | ||||
Other assets and liabilities, net (0.5%) | (2,513,415) | ||||
Total net assets 100.0% | $472,435,101 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
Security Abbreviations and Legend | |
(A) | Non-income producing security. |
(B) | The rate shown is the annualized seven-day yield as of 8-31-24. |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK SMALL CAP DYNAMIC GROWTH FUND | 4 |
Assets | |
Unaffiliated investments, at value (Cost $349,732,194) | $474,948,516 |
Dividends and interest receivable | 177,696 |
Receivable for fund shares sold | 50,547 |
Other assets | 46,773 |
Total assets | 475,223,532 |
Liabilities | |
Payable for investments purchased | 501,252 |
Payable for fund shares repurchased | 2,172,291 |
Payable to affiliates | |
Accounting and legal services fees | 14,808 |
Transfer agent fees | 3,119 |
Trustees’ fees | 436 |
Other liabilities and accrued expenses | 96,525 |
Total liabilities | 2,788,431 |
Net assets | $472,435,101 |
Net assets consist of | |
Paid-in capital | $358,499,738 |
Total distributable earnings (loss) | 113,935,363 |
Net assets | $472,435,101 |
Net asset value per share | |
Based on net asset value and shares outstanding - the fund has an unlimited number of shares authorized with no par value | |
Class A ($32,458,304 ÷ 1,863,372 shares)1 | $17.42 |
Class C ($336,215 ÷ 20,503 shares)1 | $16.40 |
Class I ($1,337,724 ÷ 75,395 shares) | $17.74 |
Class R6 ($21,203,176 ÷ 1,183,505 shares) | $17.92 |
Class NAV ($417,099,682 ÷ 23,256,890 shares) | $17.93 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $18.34 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
5 | JOHN HANCOCK Small Cap Dynamic Growth Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
Investment income | |
Dividends | $2,336,396 |
Interest | 5,093 |
Less foreign taxes withheld | (23,025) |
Total investment income | 2,318,464 |
Expenses | |
Investment management fees | 3,687,590 |
Distribution and service fees | 63,202 |
Accounting and legal services fees | 85,259 |
Transfer agent fees | 31,850 |
Trustees’ fees | 10,300 |
Custodian fees | 59,992 |
State registration fees | 67,758 |
Printing and postage | 21,366 |
Professional fees | 98,546 |
Other | 25,159 |
Total expenses | 4,151,022 |
Less expense reductions | (33,685) |
Net expenses | 4,117,337 |
Net investment loss | (1,798,873) |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments | 41,557,414 |
Affiliated investments | 2,174 |
41,559,588 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments | 72,894,984 |
Affiliated investments | (2,056) |
72,892,928 | |
Net realized and unrealized gain | 114,452,516 |
Increase in net assets from operations | $112,653,643 |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK Small Cap Dynamic Growth Fund | 6 |
Year ended 8-31-24 | Year ended 8-31-23 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment loss | $(1,798,873) | $(2,122,013) |
Net realized gain (loss) | 41,559,588 | (40,055,157) |
Change in net unrealized appreciation (depreciation) | 72,892,928 | 33,592,200 |
Increase (decrease) in net assets resulting from operations | 112,653,643 | (8,584,970) |
From fund share transactions | (68,407,338) | 4,071,893 |
Total increase (decrease) | 44,246,305 | (4,513,077) |
Net assets | ||
Beginning of year | 428,188,796 | 432,701,873 |
End of year | $472,435,101 | $428,188,796 |
7 | JOHN HANCOCK Small Cap Dynamic Growth Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS A SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $13.63 | $14.00 | $27.21 | $20.14 | $16.62 |
Net investment loss1 | (0.11) | (0.11) | (0.14) | (0.26) | (0.15) |
Net realized and unrealized gain (loss) on investments | 3.90 | (0.26) | (6.06) | 8.17 | 3.67 |
Total from investment operations | 3.79 | (0.37) | (6.20) | 7.91 | 3.52 |
Less distributions | |||||
From net realized gain | — | — | (7.01) | (0.84) | — |
Net asset value, end of period | $17.42 | $13.63 | $14.00 | $27.21 | $20.14 |
Total return (%)2,3 | 27.81 | (2.64) | (29.82) | 40.11 | 21.18 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $32 | $22 | $18 | $21 | $7 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.31 | 1.32 | 1.30 | 1.28 | 1.31 |
Expenses including reductions | 1.30 | 1.31 | 1.29 | 1.28 | 1.30 |
Net investment loss | (0.76) | (0.85) | (0.78) | (1.05) | (0.91) |
Portfolio turnover (%) | 1774 | 81 | 55 | 66 | 98 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
3 | Does not reflect the effect of sales charges, if any. |
4 | Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period as a result of reassignment of Axiom Investors LLC as subadvisor of the fund. |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK Small Cap Dynamic Growth Fund | 8 |
CLASS C SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $12.92 | $13.38 | $26.48 | $19.77 | $16.44 |
Net investment loss1 | (0.21) | (0.20) | (0.28) | (0.42) | (0.27) |
Net realized and unrealized gain (loss) on investments | 3.69 | (0.26) | (5.81) | 7.97 | 3.60 |
Total from investment operations | 3.48 | (0.46) | (6.09) | 7.55 | 3.33 |
Less distributions | |||||
From net realized gain | — | — | (7.01) | (0.84) | — |
Net asset value, end of period | $16.40 | $12.92 | $13.38 | $26.48 | $19.77 |
Total return (%)2,3 | 26.93 | (3.44) | (30.36) | 39.06 | 20.26 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $—4 | $—4 | $—4 | $—4 | $—4 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 2.06 | 2.07 | 2.05 | 2.03 | 2.06 |
Expenses including reductions | 2.05 | 2.06 | 2.04 | 2.03 | 2.05 |
Net investment loss | (1.49) | (1.60) | (1.53) | (1.79) | (1.67) |
Portfolio turnover (%) | 1775 | 81 | 55 | 66 | 98 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
3 | Does not reflect the effect of sales charges, if any. |
4 | Less than $500,000. |
5 | Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period as a result of reassignment of Axiom Investors LLC as subadvisor of the fund. |
9 | JOHN HANCOCK Small Cap Dynamic Growth Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS I SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $13.85 | $14.19 | $27.43 | $20.25 | $16.67 |
Net investment loss1 | (0.07) | (0.08) | (0.09) | (0.19) | (0.11) |
Net realized and unrealized gain (loss) on investments | 3.96 | (0.26) | (6.14) | 8.21 | 3.69 |
Total from investment operations | 3.89 | (0.34) | (6.23) | 8.02 | 3.58 |
Less distributions | |||||
From net realized gain | — | — | (7.01) | (0.84) | — |
Net asset value, end of period | $17.74 | $13.85 | $14.19 | $27.43 | $20.25 |
Total return (%)2 | 28.09 | (2.40) | (29.69) | 40.49 | 21.48 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1 | $4 | $1 | $1 | $—3 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.06 | 1.07 | 1.05 | 1.03 | 1.06 |
Expenses including reductions | 1.05 | 1.06 | 1.04 | 1.03 | 1.05 |
Net investment loss | (0.52) | (0.58) | (0.54) | (0.78) | (0.65) |
Portfolio turnover (%) | 1774 | 81 | 55 | 66 | 98 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
3 | Less than $500,000. |
4 | Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period as a result of reassignment of Axiom Investors LLC as subadvisor of the fund. |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK Small Cap Dynamic Growth Fund | 10 |
CLASS R6 SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $13.97 | $14.30 | $27.55 | $20.32 | $16.70 |
Net investment loss1 | (0.07) | (0.07) | (0.06) | (0.16) | (0.09) |
Net realized and unrealized gain (loss) on investments | 4.02 | (0.26) | (6.18) | 8.23 | 3.71 |
Total from investment operations | 3.95 | (0.33) | (6.24) | 8.07 | 3.62 |
Less distributions | |||||
From net realized gain | — | — | (7.01) | (0.84) | — |
Net asset value, end of period | $17.92 | $13.97 | $14.30 | $27.55 | $20.32 |
Total return (%)2 | 28.27 | (2.31) | (29.58) | 40.60 | 21.68 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $21 | $—3 | $—3 | $—3 | $—3 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.95 | 0.96 | 0.94 | 0.93 | 0.94 |
Expenses including reductions | 0.94 | 0.95 | 0.93 | 0.92 | 0.94 |
Net investment loss | (0.43) | (0.50) | (0.36) | (0.67) | (0.54) |
Portfolio turnover (%) | 1774 | 81 | 55 | 66 | 98 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
3 | Less than $500,000. |
4 | Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period as a result of reassignment of Axiom Investors LLC as subadvisor of the fund. |
11 | JOHN HANCOCK Small Cap Dynamic Growth Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS NAV SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $13.98 | $14.31 | $27.56 | $20.33 | $16.71 |
Net investment loss1 | (0.06) | (0.07) | (0.08) | (0.16) | (0.09) |
Net realized and unrealized gain (loss) on investments | 4.01 | (0.26) | (6.16) | 8.23 | 3.71 |
Total from investment operations | 3.95 | (0.33) | (6.24) | 8.07 | 3.62 |
Less distributions | |||||
From net realized gain | — | — | (7.01) | (0.84) | — |
Net asset value, end of period | $17.93 | $13.98 | $14.31 | $27.56 | $20.33 |
Total return (%)2 | 28.25 | (2.31) | (29.56) | 40.58 | 21.66 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $417 | $401 | $413 | $657 | $615 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.94 | 0.95 | 0.93 | 0.92 | 0.93 |
Expenses including reductions | 0.93 | 0.94 | 0.92 | 0.91 | 0.93 |
Net investment loss | (0.39) | (0.49) | (0.41) | (0.66) | (0.53) |
Portfolio turnover (%) | 1773 | 81 | 55 | 66 | 98 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
3 | Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period as a result of reassignment of Axiom Investors LLC as subadvisor of the fund. |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK Small Cap Dynamic Growth Fund | 12 |
13 | JOHN HANCOCK Small Cap Dynamic Growth Fund | |
| JOHN HANCOCK Small Cap Dynamic Growth Fund | 14 |
15 | JOHN HANCOCK Small Cap Dynamic Growth Fund | |
Class | Rule 12b-1 Fee |
Class A | 0.25% |
Class C | 1.00% |
| JOHN HANCOCK Small Cap Dynamic Growth Fund | 16 |
Class | Distribution and service fees | Transfer agent fees |
Class A | $60,451 | $28,073 |
Class C | 2,751 | 319 |
Class I | — | 3,066 |
Class R6 | — | 392 |
Total | $63,202 | $31,850 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Lender | $7,900,000 | 4 | 5.802% | $5,093 |
17 | JOHN HANCOCK Small Cap Dynamic Growth Fund | |
Year Ended 8-31-24 | Year Ended 8-31-23 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 842,476 | $12,728,234 | 734,153 | $9,844,147 |
Repurchased | (594,506) | (8,655,594) | (437,103) | (5,823,248) |
Net increase | 247,970 | $4,072,640 | 297,050 | $4,020,899 |
Class C shares | ||||
Sold | 12,523 | $181,021 | 4,446 | $55,266 |
Repurchased | (9,781) | (140,131) | (2,252) | (28,637) |
Net increase | 2,742 | $40,890 | 2,194 | $26,629 |
Class I shares | ||||
Sold | 116,868 | $1,802,721 | 321,027 | $4,400,136 |
Repurchased | (362,801) | (5,228,670) | (60,047) | (806,703) |
Net increase (decrease) | (245,933) | $(3,425,949) | 260,980 | $3,593,433 |
Class R6 shares | ||||
Sold | 1,224,201 | $19,631,610 | 4,076 | $55,722 |
Repurchased | (64,724) | (1,044,533) | (581) | (8,036) |
Net increase | 1,159,477 | $18,587,077 | 3,495 | $47,686 |
Class NAV shares | ||||
Sold | 1,268,357 | $17,424,177 | 2,038,302 | $27,357,984 |
Repurchased | (6,712,938) | (105,106,173) | (2,196,844) | (30,974,738) |
Net decrease | (5,444,581) | $(87,681,996) | (158,542) | $(3,616,754) |
Total net increase (decrease) | (4,280,325) | $(68,407,338) | 405,177 | $4,071,893 |
| JOHN HANCOCK Small Cap Dynamic Growth Fund | 18 |
Fund | Affiliated Concentration |
John Hancock Funds II Multimanager Lifestyle Growth Portfolio | 27.8% |
John Hancock Funds II Multimanager Lifestyle Balanced Portfolio | 17.1% |
John Hancock Funds II Multimanager Lifestyle Aggressive Portfolio | 15.1% |
John Hancock Variable Insurance Trust Managed Volatility Growth Portfolio | 8.2% |
Dividends and distributions | |||||||||
Affiliate | Ending share amount | Beginning value | Cost of purchases | Proceeds from shares sold | Realized gain (loss) | Change in unrealized appreciation (depreciation) | Income distributions received | Capital gain distributions received | Ending value |
John Hancock Collateral Trust | — | $10,592,474 | $23,234,141 | $(33,826,733) | $2,174 | $(2,056) | — | — | — |
19 | JOHN HANCOCK Small Cap Dynamic Growth Fund | |
| JOHN HANCOCK SMALL CAP DYNAMIC GROWTH FUND | 20 |
21 | JOHN HANCOCK SMALL CAP DYNAMIC GROWTH FUND | |
| JOHN HANCOCK SMALL CAP DYNAMIC GROWTH FUND | 22 |
(a) | the skills and competency with which the Advisor has in the past managed the Trust’s affairs and its subadvisory relationship, the Advisor’s oversight and monitoring of the Subadvisor’s investment performance and compliance programs, such as the Subadvisor’s compliance with fund policies and objectives, review of brokerage matters, including with respect to trade allocation and best execution and the Advisor’s timeliness in responding to performance issues; |
(b) | the background, qualifications and skills of the Advisor’s personnel; |
(c) | the Advisor’s compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments; |
(d) | the Advisor’s administrative capabilities, including its ability to supervise the other service providers for the fund, as well as the Advisor’s oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the fund, and bringing loss recovery actions on behalf of the fund; |
(e) | the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the fund; |
23 | JOHN HANCOCK SMALL CAP DYNAMIC GROWTH FUND | |
(f) | the Advisor’s initiatives intended to improve various aspects of the Trust’s operations and investor experience with the fund; and |
(g) | the Advisor’s reputation and experience in serving as an investment advisor to the Trust and the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of investments. |
(a) | reviewed information prepared by management regarding the fund’s performance; |
(b) | considered the comparative performance of an applicable benchmark index; |
(c) | considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of fund data; and |
(d) | took into account the Advisor’s analysis of the fund’s performance and its plans and recommendations regarding the Trust’s subadvisory arrangements generally. |
| JOHN HANCOCK SMALL CAP DYNAMIC GROWTH FUND | 24 |
(a) | reviewed financial information of the Advisor; |
(b) | reviewed and considered information presented by the Advisor regarding the net profitability to the Advisor and its affiliates with respect to the fund; |
(c) | received and reviewed profitability information with respect to the John Hancock Fund Complex as a whole and with respect to the fund; |
(d) | received information with respect to the Advisor’s allocation methodologies used in preparing the profitability data and considered that the Advisor hired an independent third-party consultant to provide an analysis of the Advisor’s allocation methodologies; |
(e) | considered that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain funds of the Trust and noted that these tax benefits, which are not available to participants in qualified retirement plans under applicable income tax law, are reflected in the profitability information reviewed by the Board; |
(f) | considered that the Advisor also provides administrative services to the fund on a cost basis pursuant to an administrative services agreement; |
(g) | noted that affiliates of the Advisor provide transfer agency services and distribution services to the fund, and that the fund’s distributor also receives Rule 12b-1 payments to support distribution of the fund; |
(h) | noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the fund; |
(i) | noted that the subadvisory fee for the fund is paid by the Advisor and is negotiated at arm’s length; |
(j) | considered the Advisor’s ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and |
(k) | considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to the fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk. |
25 | JOHN HANCOCK SMALL CAP DYNAMIC GROWTH FUND | |
(a) | considered that the Advisor has contractually agreed to waive a portion of its management fee for certain funds of the John Hancock Fund Complex, including the fund (the participating portfolios) or otherwise reimburse the expenses of the participating portfolios (the reimbursement). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund; |
(b) | reviewed the fund’s advisory fee structure and concluded that: (i) the fund’s fee structure contains breakpoints at the subadvisory fee level and that such breakpoints are reflected as breakpoints in the advisory fees for the fund; and (ii) although economies of scale cannot be measured with precision, these arrangements permit shareholders of the fund to benefit from economies of scale if the fund grows. The Board also took into account management’s discussion of the fund’s advisory fee structure; and |
(c) | the Board also considered the effect of the fund’s growth in size on its performance and fees. The Board also noted that if the fund’s assets increase over time, the fund may realize other economies of scale. |
(1) | information relating to the Subadvisor’s business, including current subadvisory services to the Trust (and other funds in the John Hancock Fund Complex); |
(2) | the historical and current performance of the fund and comparative performance information relating to an applicable benchmark index and comparable funds; |
(3) | the subadvisory fee for the fund, including any breakpoints, and to the extent available, comparable fee information prepared by an independent third party provider of fund data; and |
(4) | information relating to the nature and scope of any material relationships and their significance to the Trust’s Advisor and Subadvisor. |
| JOHN HANCOCK SMALL CAP DYNAMIC GROWTH FUND | 26 |
(1) | the Subadvisor has extensive experience and demonstrated skills as a manager; |
(2) | the performance of the fund is being monitored and reasonably addressed, where appropriate; |
(3) | the subadvisory fee is reasonable in relation to the level and quality of services being provided under the Subadvisory Agreement; and |
(4) | noted that the subadvisory fees are paid by the Advisor not the fund and that the subadvisory fee breakpoints are reflected as breakpoints in the advisory fees for the fund in order to permit shareholders to benefit from economies of scale if the fund grows. |
27 | JOHN HANCOCK SMALL CAP DYNAMIC GROWTH FUND | |
| JOHN HANCOCK SMALL CAP DYNAMIC GROWTH FUND | 28 |
MF3827265 | 470A 8/24 |
Shares | Value | ||||
Common stocks 97.4% | $557,793,123 | ||||
(Cost $436,126,143) | |||||
Communication services 1.0% | 5,817,727 | ||||
Interactive media and services 1.0% | |||||
Shutterstock, Inc. (A) | 162,144 | 5,817,727 | |||
Consumer discretionary 9.9% | 56,551,387 | ||||
Automobile components 2.2% | |||||
The Goodyear Tire & Rubber Company (B) | 660,285 | 5,823,714 | |||
Visteon Corp. (B) | 64,004 | 6,479,125 | |||
Hotels, restaurants and leisure 1.3% | |||||
Wyndham Hotels & Resorts, Inc. | 97,680 | 7,687,416 | |||
Household durables 2.8% | |||||
Century Communities, Inc. | 42,256 | 4,228,558 | |||
Sonos, Inc. (B) | 559,205 | 6,839,077 | |||
Tri Pointe Homes, Inc. (B) | 116,528 | 5,178,504 | |||
Leisure products 0.2% | |||||
Malibu Boats, Inc., Class A (B) | 23,200 | 843,784 | |||
Specialty retail 1.2% | |||||
Monro, Inc. | 253,400 | 6,864,606 | |||
Textiles, apparel and luxury goods 2.2% | |||||
Kontoor Brands, Inc. | 90,954 | 6,807,907 | |||
Oxford Industries, Inc. | 66,667 | 5,798,696 | |||
Consumer staples 2.6% | 14,748,952 | ||||
Food products 1.2% | |||||
Post Holdings, Inc. (B) | 57,016 | 6,600,742 | |||
Household products 1.4% | |||||
Spectrum Brands Holdings, Inc. | 86,389 | 8,148,210 | |||
Energy 5.1% | 29,532,578 | ||||
Energy equipment and services 1.6% | |||||
Atlas Energy Solutions, Inc. (A) | 139,615 | 2,944,480 | |||
Valaris, Ltd. (B) | 102,774 | 6,275,380 | |||
Oil, gas and consumable fuels 3.5% | |||||
Gulfport Energy Corp. (B) | 75,840 | 11,001,350 | |||
Sitio Royalties Corp., Class A | 418,865 | 9,311,368 | |||
Financials 26.7% | 152,656,132 | ||||
Banks 18.3% | |||||
1st Source Corp. | 123,922 | 7,614,387 | |||
Bank OZK | 199,754 | 8,659,336 | |||
Berkshire Hills Bancorp, Inc. | 320,852 | 8,836,264 |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK SMALL CAP VALUE FUND | 2 |
Shares | Value | ||||
Financials (continued) | |||||
Banks (continued) | |||||
Cadence Bank | 309,710 | $9,997,439 | |||
Eastern Bankshares, Inc. | 184,515 | 3,131,220 | |||
Enterprise Financial Services Corp. | 193,583 | 10,242,477 | |||
First Busey Corp. | 341,791 | 9,245,447 | |||
First Interstate BancSystem, Inc., Class A | 152,782 | 4,743,881 | |||
Hancock Whitney Corp. | 194,694 | 10,460,909 | |||
National Bank Holdings Corp., Class A | 244,819 | 10,725,520 | |||
Seacoast Banking Corp. of Florida | 377,095 | 10,317,319 | |||
Synovus Financial Corp. | 231,714 | 10,686,650 | |||
Capital markets 1.2% | |||||
Houlihan Lokey, Inc. | 43,859 | 6,869,197 | |||
Consumer finance 1.9% | |||||
Bread Financial Holdings, Inc. | 183,355 | 10,665,760 | |||
Financial services 0.2% | |||||
NMI Holdings, Inc. (B) | 26,931 | 1,106,056 | |||
Insurance 5.1% | |||||
Assured Guaranty, Ltd. | 85,182 | 6,821,375 | |||
Fidelis Insurance Holdings, Ltd. | 169,554 | 3,140,140 | |||
Kemper Corp. | 120,544 | 7,535,205 | |||
ProAssurance Corp. (B) | 391,764 | 5,249,638 | |||
White Mountains Insurance Group, Ltd. | 3,583 | 6,607,912 | |||
Health care 4.8% | 27,561,711 | ||||
Health care equipment and supplies 3.0% | |||||
Haemonetics Corp. (B) | 102,133 | 7,719,212 | |||
ICU Medical, Inc. (B) | 40,448 | 6,687,268 | |||
Integra LifeSciences Holdings Corp. (B) | 127,252 | 2,588,306 | |||
Health care providers and services 1.8% | |||||
Acadia Healthcare Company, Inc. (B) | 68,053 | 5,575,582 | |||
AMN Healthcare Services, Inc. (B) | 94,123 | 4,991,343 | |||
Industrials 18.2% | 104,148,824 | ||||
Building products 2.6% | |||||
American Woodmark Corp. (B) | 92,168 | 8,259,174 | |||
Janus International Group, Inc. (B) | 603,000 | 6,626,970 | |||
Commercial services and supplies 3.6% | |||||
ACCO Brands Corp. | 1,002,713 | 5,494,867 | |||
Brady Corp., Class A | 98,949 | 7,326,184 | |||
Vestis Corp. | 560,915 | 7,892,074 | |||
Electrical equipment 0.6% | |||||
Thermon Group Holdings, Inc. (B) | 116,892 | 3,673,916 |
3 | JOHN HANCOCK SMALL CAP VALUE FUND | | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Industrials (continued) | |||||
Ground transportation 1.5% | |||||
Ryder System, Inc. | 59,738 | $8,676,347 | |||
Machinery 3.8% | |||||
Alamo Group, Inc. | 24,486 | 4,539,704 | |||
John Bean Technologies Corp. | 57,282 | 5,146,215 | |||
Kennametal, Inc. | 152,567 | 3,946,908 | |||
The Middleby Corp. (B) | 56,661 | 7,967,670 | |||
Professional services 4.5% | |||||
Huron Consulting Group, Inc. (B) | 74,774 | 8,258,041 | |||
Maximus, Inc. | 54,223 | 5,002,614 | |||
Science Applications International Corp. | 45,194 | 5,901,884 | |||
WNS Holdings, Ltd. (B) | 111,179 | 6,581,797 | |||
Trading companies and distributors 1.6% | |||||
Air Lease Corp. | 191,365 | 8,854,459 | |||
Information technology 7.8% | 44,457,103 | ||||
Electronic equipment, instruments and components 4.9% | |||||
Belden, Inc. | 97,073 | 10,413,991 | |||
CTS Corp. | 65,468 | 3,224,299 | |||
ePlus, Inc. (B) | 83,305 | 7,993,948 | |||
Knowles Corp. (B) | 345,159 | 6,368,184 | |||
Software 2.9% | |||||
ACI Worldwide, Inc. (B) | 136,552 | 6,876,759 | |||
Progress Software Corp. | 164,745 | 9,579,922 | |||
Materials 7.9% | 45,285,019 | ||||
Chemicals 5.9% | |||||
Axalta Coating Systems, Ltd. (B) | 249,026 | 9,089,449 | |||
Element Solutions, Inc. | 373,635 | 9,991,000 | |||
HB Fuller Company | 80,042 | 6,856,398 | |||
Mativ Holdings, Inc. | 409,171 | 7,757,882 | |||
Containers and packaging 2.0% | |||||
TriMas Corp. | 454,343 | 11,590,290 | |||
Real estate 10.0% | 57,254,785 | ||||
Health care REITs 0.3% | |||||
Sabra Health Care REIT, Inc. | 79,100 | 1,347,864 | |||
Hotel and resort REITs 1.2% | |||||
DiamondRock Hospitality Company | 800,434 | 7,035,815 | |||
Industrial REITs 0.8% | |||||
LXP Industrial Trust | 453,613 | 4,699,431 | |||
Real estate management and development 1.1% | |||||
Colliers International Group, Inc. | 43,111 | 6,219,193 |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK SMALL CAP VALUE FUND | 4 |
Shares | Value | ||||
Real estate (continued) | |||||
Residential REITs 2.7% | |||||
Centerspace | 100,272 | $7,500,346 | |||
Independence Realty Trust, Inc. | 377,494 | 7,844,325 | |||
Retail REITs 2.6% | |||||
NETSTREIT Corp. | 410,444 | 6,850,310 | |||
Phillips Edison & Company, Inc. | 221,119 | 8,172,558 | |||
Specialized REITs 1.3% | |||||
PotlatchDeltic Corp. | 174,527 | 7,584,943 | |||
Utilities 3.4% | 19,778,905 | ||||
Electric utilities 2.1% | |||||
Portland General Electric Company | 147,722 | 7,106,905 | |||
TXNM Energy, Inc. | 126,999 | 5,204,419 | |||
Gas utilities 1.3% | |||||
ONE Gas, Inc. | 108,320 | 7,467,581 | |||
Yield (%) | Shares | Value | |||
Short-term investments 3.2% | $18,118,270 | ||||
(Cost $18,118,463) | |||||
Short-term funds 0.7% | 3,918,270 | ||||
John Hancock Collateral Trust (C) | 5.2747(D) | 391,843 | 3,918,270 |
Par value^ | Value | ||||
Repurchase agreement 2.5% | 14,200,000 | ||||
Deutsche Bank Tri-Party Repurchase Agreement dated 8-30-24 at 5.330% to be repurchased at $14,208,410 on 9-3-24, collateralized by $14,569,400 U.S. Treasury Bills, 0.000% due 10-10-24 (valued at $14,484,009) | 14,200,000 | 14,200,000 |
Total investments (Cost $454,244,606) 100.6% | $575,911,393 | ||||
Other assets and liabilities, net (0.6%) | (3,502,289) | ||||
Total net assets 100.0% | $572,409,104 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
^All par values are denominated in U.S. dollars unless otherwise indicated. | |
Security Abbreviations and Legend | |
(A) | All or a portion of this security is on loan as of 8-31-24. |
(B) | Non-income producing security. |
(C) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |
(D) | The rate shown is the annualized seven-day yield as of 8-31-24. |
5 | JOHN HANCOCK SMALL CAP VALUE FUND | | SEE NOTES TO FINANCIAL STATEMENTS |
Assets | |
Unaffiliated investments, at value (Cost $450,326,143) including $3,838,412 of securities loaned | $571,993,123 |
Affiliated investments, at value (Cost $3,918,463) | 3,918,270 |
Total investments, at value (Cost $454,244,606) | 575,911,393 |
Cash | 18,996 |
Dividends and interest receivable | 722,904 |
Receivable for fund shares sold | 502,480 |
Receivable for investments sold | 171,260 |
Receivable for securities lending income | 267 |
Receivable from affiliates | 1,379 |
Other assets | 36,032 |
Total assets | 577,364,711 |
Liabilities | |
Payable for investments purchased | 384,616 |
Payable for fund shares repurchased | 513,822 |
Payable upon return of securities loaned | 3,918,715 |
Payable to affiliates | |
Accounting and legal services fees | 18,038 |
Transfer agent fees | 10,097 |
Trustees’ fees | 537 |
Other liabilities and accrued expenses | 109,782 |
Total liabilities | 4,955,607 |
Net assets | $572,409,104 |
Net assets consist of | |
Paid-in capital | $431,784,508 |
Total distributable earnings (loss) | 140,624,596 |
Net assets | $572,409,104 |
Net asset value per share | |
Based on net asset value and shares outstanding - the fund has an unlimited number of shares authorized with no par value | |
Class A ($47,892,772 ÷ 2,574,101 shares)1 | $18.61 |
Class I ($63,378,297 ÷ 3,393,315 shares) | $18.68 |
Class R6 ($37,432,259 ÷ 2,002,724 shares) | $18.69 |
Class NAV ($423,705,776 ÷ 22,700,452 shares) | $18.67 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $19.59 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK Small Cap Value Fund | 6 |
Investment income | |
Dividends | $9,130,988 |
Interest | 491,870 |
Securities lending | 7,306 |
Less foreign taxes withheld | (1,363) |
Total investment income | 9,628,801 |
Expenses | |
Investment management fees | 5,095,071 |
Distribution and service fees | 131,690 |
Accounting and legal services fees | 108,273 |
Transfer agent fees | 119,706 |
Trustees’ fees | 12,911 |
Custodian fees | 71,250 |
State registration fees | 61,379 |
Printing and postage | 25,191 |
Professional fees | 75,267 |
Other | 29,478 |
Total expenses | 5,730,216 |
Less expense reductions | (221,470) |
Net expenses | 5,508,746 |
Net investment income | 4,120,055 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments | 41,998,929 |
Affiliated investments | 6,138 |
42,005,067 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments | 41,909,460 |
Affiliated investments | (2,334) |
41,907,126 | |
Net realized and unrealized gain | 83,912,193 |
Increase in net assets from operations | $88,032,248 |
7 | JOHN HANCOCK Small Cap Value Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
Year ended 8-31-24 | Year ended 8-31-23 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $4,120,055 | $4,582,516 |
Net realized gain | 42,005,067 | 42,348,916 |
Change in net unrealized appreciation (depreciation) | 41,907,126 | (16,014,286) |
Increase in net assets resulting from operations | 88,032,248 | 30,917,146 |
Distributions to shareholders | ||
From earnings | ||
Class A | (4,388,338) | (6,658,901) |
Class I | (6,084,684) | (10,302,593) |
Class R6 | (3,692,474) | (4,927,510) |
Class NAV | (42,502,004) | (67,800,259) |
Total distributions | (56,667,500) | (89,689,263) |
From fund share transactions | (6,233,841) | 58,469,891 |
Total increase (decrease) | 25,130,907 | (302,226) |
Net assets | ||
Beginning of year | 547,278,197 | 547,580,423 |
End of year | $572,409,104 | $547,278,197 |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK Small Cap Value Fund | 8 |
CLASS A SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $17.71 | $20.26 | $24.09 | $16.01 | $19.54 |
Net investment income1 | 0.07 | 0.09 | 0.10 | 0.04 | 0.04 |
Net realized and unrealized gain (loss) on investments | 2.69 | 0.69 | (1.26) | 8.05 | (2.78) |
Total from investment operations | 2.76 | 0.78 | (1.16) | 8.09 | (2.74) |
Less distributions | |||||
From net investment income | (0.08) | (0.14) | (0.03) | (0.01) | (0.12) |
From net realized gain | (1.78) | (3.19) | (2.64) | — | (0.67) |
Total distributions | (1.86) | (3.33) | (2.67) | (0.01) | (0.79) |
Net asset value, end of period | $18.61 | $17.71 | $20.26 | $24.09 | $16.01 |
Total return (%)2,3 | 16.46 | 5.04 | (5.51) | 50.56 | (15.04) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $48 | $45 | $39 | $36 | $22 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.43 | 1.43 | 1.41 | 1.41 | 1.47 |
Expenses including reductions | 1.39 | 1.39 | 1.39 | 1.39 | 1.46 |
Net investment income | 0.39 | 0.49 | 0.45 | 0.20 | 0.24 |
Portfolio turnover (%) | 38 | 49 | 41 | 34 | 46 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
3 | Does not reflect the effect of sales charges, if any. |
9 | JOHN HANCOCK Small Cap Value Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS I SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $17.77 | $20.33 | $24.17 | $16.05 | $19.58 |
Net investment income1 | 0.12 | 0.14 | 0.16 | 0.11 | 0.09 |
Net realized and unrealized gain (loss) on investments | 2.70 | 0.69 | (1.26) | 8.07 | (2.77) |
Total from investment operations | 2.82 | 0.83 | (1.10) | 8.18 | (2.68) |
Less distributions | |||||
From net investment income | (0.13) | (0.20) | (0.10) | (0.06) | (0.18) |
From net realized gain | (1.78) | (3.19) | (2.64) | — | (0.67) |
Total distributions | (1.91) | (3.39) | (2.74) | (0.06) | (0.85) |
Net asset value, end of period | $18.68 | $17.77 | $20.33 | $24.17 | $16.05 |
Total return (%)2 | 16.80 | 5.34 | (5.24) | 51.06 | (14.77) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $63 | $58 | $62 | $61 | $72 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.13 | 1.13 | 1.11 | 1.11 | 1.17 |
Expenses including reductions | 1.09 | 1.09 | 1.09 | 1.08 | 1.16 |
Net investment income | 0.69 | 0.78 | 0.75 | 0.53 | 0.53 |
Portfolio turnover (%) | 38 | 49 | 41 | 34 | 46 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK Small Cap Value Fund | 10 |
CLASS R6 SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $17.78 | $20.34 | $24.19 | $16.06 | $19.59 |
Net investment income1 | 0.14 | 0.16 | 0.19 | 0.13 | 0.11 |
Net realized and unrealized gain (loss) on investments | 2.70 | 0.69 | (1.27) | 8.08 | (2.77) |
Total from investment operations | 2.84 | 0.85 | (1.08) | 8.21 | (2.66) |
Less distributions | |||||
From net investment income | (0.15) | (0.22) | (0.13) | (0.08) | (0.20) |
From net realized gain | (1.78) | (3.19) | (2.64) | — | (0.67) |
Total distributions | (1.93) | (3.41) | (2.77) | (0.08) | (0.87) |
Net asset value, end of period | $18.69 | $17.78 | $20.34 | $24.19 | $16.06 |
Total return (%)2 | 16.85 | 5.53 | (5.16) | 51.22 | (14.69) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $37 | $33 | $28 | $25 | $12 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.02 | 1.02 | 1.01 | 1.00 | 1.05 |
Expenses including reductions | 0.98 | 0.98 | 0.98 | 0.98 | 1.04 |
Net investment income | 0.80 | 0.89 | 0.85 | 0.60 | 0.63 |
Portfolio turnover (%) | 38 | 49 | 41 | 34 | 46 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
11 | JOHN HANCOCK Small Cap Value Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS NAV SHARES Period ended | 8-31-24 | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $17.76 | $20.32 | $24.17 | $16.05 | $19.57 |
Net investment income1 | 0.14 | 0.16 | 0.18 | 0.13 | 0.11 |
Net realized and unrealized gain (loss) on investments | 2.70 | 0.69 | (1.25) | 8.07 | (2.76) |
Total from investment operations | 2.84 | 0.85 | (1.07) | 8.20 | (2.65) |
Less distributions | |||||
From net investment income | (0.15) | (0.22) | (0.14) | (0.08) | (0.20) |
From net realized gain | (1.78) | (3.19) | (2.64) | — | (0.67) |
Total distributions | (1.93) | (3.41) | (2.78) | (0.08) | (0.87) |
Net asset value, end of period | $18.67 | $17.76 | $20.32 | $24.17 | $16.05 |
Total return (%)2 | 16.96 | 5.49 | (5.15) | 51.20 | (14.64) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $424 | $412 | $419 | $695 | $510 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.01 | 1.01 | 1.00 | 0.99 | 1.04 |
Expenses including reductions | 0.97 | 0.97 | 0.97 | 0.97 | 1.03 |
Net investment income | 0.81 | 0.89 | 0.82 | 0.60 | 0.63 |
Portfolio turnover (%) | 38 | 49 | 41 | 34 | 46 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK Small Cap Value Fund | 12 |
13 | JOHN HANCOCK Small Cap Value Fund | |
Total value at 8-31-24 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | $557,793,123 | $557,793,123 | — | — |
Short-term investments | 18,118,270 | 3,918,270 | $14,200,000 | — |
Total investments in securities | $575,911,393 | $561,711,393 | $14,200,000 | — |
| JOHN HANCOCK Small Cap Value Fund | 14 |
15 | JOHN HANCOCK Small Cap Value Fund | |
August 31, 2024 | August 31, 2023 | |
Ordinary income | $9,522,888 | $11,208,480 |
Long-term capital gains | 47,144,612 | 78,480,783 |
Total | $56,667,500 | $89,689,263 |
| JOHN HANCOCK Small Cap Value Fund | 16 |
17 | JOHN HANCOCK Small Cap Value Fund | |
Class | Rule 12b-1 Fee |
Class A | 0.30% |
Class | Distribution and service fees | Transfer agent fees |
Class A | $131,690 | $51,092 |
Class I | — | 66,817 |
Class R6 | — | 1,797 |
Total | $131,690 | $119,706 |
| JOHN HANCOCK Small Cap Value Fund | 18 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Lender | $4,150,000 | 4 | 5.803% | $2,676 |
Year Ended 8-31-24 | Year Ended 8-31-23 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 563,960 | $9,747,557 | 647,495 | $11,606,917 |
Distributions reinvested | 254,911 | 4,371,715 | 401,643 | 6,627,112 |
Repurchased | (765,793) | (13,135,675) | (468,050) | (8,326,012) |
Net increase | 53,078 | $983,597 | 581,088 | $9,908,017 |
Class I shares | ||||
Sold | 311,130 | $5,368,776 | 618,811 | $11,528,962 |
Distributions reinvested | 353,993 | 6,081,601 | 623,061 | 10,292,973 |
Repurchased | (532,331) | (9,100,048) | (1,014,510) | (18,588,719) |
Net increase | 132,792 | $2,350,329 | 227,362 | $3,233,216 |
Class R6 shares | ||||
Sold | 547,891 | $9,509,211 | 595,640 | $10,896,379 |
Distributions reinvested | 214,815 | 3,690,523 | 298,166 | 4,925,709 |
Repurchased | (593,189) | (10,207,958) | (438,290) | (8,029,266) |
Net increase | 169,517 | $2,991,776 | 455,516 | $7,792,822 |
Class NAV shares | ||||
Sold | 1,448,073 | $24,550,614 | 1,492,168 | $25,552,820 |
Distributions reinvested | 2,478,251 | 42,502,004 | 4,109,107 | 67,800,259 |
Repurchased | (4,422,207) | (79,612,161) | (3,001,956) | (55,817,243) |
Net increase (decrease) | (495,883) | $(12,559,543) | 2,599,319 | $37,535,836 |
Total net increase (decrease) | (140,496) | $(6,233,841) | 3,863,285 | $58,469,891 |
19 | JOHN HANCOCK Small Cap Value Fund | |
Fund | Affiliated Concentration |
John Hancock Funds II Multimanager Lifestyle Growth Portfolio | 26.4% |
John Hancock Funds II Multimanager Lifestyle Balanced Portfolio | 18.5% |
John Hancock Funds II Multimanager Lifestyle Aggressive Portfolio | 13.5% |
Dividends and distributions | |||||||||
Affiliate | Ending share amount | Beginning value | Cost of purchases | Proceeds from shares sold | Realized gain (loss) | Change in unrealized appreciation (depreciation) | Income distributions received | Capital gain distributions received | Ending value |
John Hancock Collateral Trust* | 391,843 | $10,675,209 | $58,721,794 | $(65,482,537) | $6,138 | $(2,334) | $7,306 | — | $3,918,270 |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
| JOHN HANCOCK Small Cap Value Fund | 20 |
21 | JOHN HANCOCK SMALL CAP VALUE FUND | |
| JOHN HANCOCK SMALL CAP VALUE FUND | 22 |
23 | JOHN HANCOCK SMALL CAP VALUE FUND | |
(a) | the skills and competency with which the Advisor has in the past managed the Trust’s affairs and its subadvisory relationship, the Advisor’s oversight and monitoring of the Subadvisor’s investment performance and compliance programs, such as the Subadvisor’s compliance with fund policies and objectives, review of brokerage matters, including with respect to trade allocation and best execution and the Advisor’s timeliness in responding to performance issues; |
(b) | the background, qualifications and skills of the Advisor’s personnel; |
(c) | the Advisor’s compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments; |
(d) | the Advisor’s administrative capabilities, including its ability to supervise the other service providers for the fund, as well as the Advisor’s oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the fund, and bringing loss recovery actions on behalf of the fund; |
(e) | the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the fund; |
| JOHN HANCOCK SMALL CAP VALUE FUND | 24 |
(f) | the Advisor’s initiatives intended to improve various aspects of the Trust’s operations and investor experience with the fund; and |
(g) | the Advisor’s reputation and experience in serving as an investment advisor to the Trust and the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of investments. |
(a) | reviewed information prepared by management regarding the fund’s performance; |
(b) | considered the comparative performance of an applicable benchmark index; |
(c) | considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of fund data; and |
(d) | took into account the Advisor’s analysis of the fund’s performance and its plans and recommendations regarding the Trust’s subadvisory arrangements generally. |
25 | JOHN HANCOCK SMALL CAP VALUE FUND | |
(a) | reviewed financial information of the Advisor; |
(b) | reviewed and considered information presented by the Advisor regarding the net profitability to the Advisor and its affiliates with respect to the fund; |
(c) | received and reviewed profitability information with respect to the John Hancock Fund Complex as a whole and with respect to the fund; |
(d) | received information with respect to the Advisor’s allocation methodologies used in preparing the profitability data and considered that the Advisor hired an independent third-party consultant to provide an analysis of the Advisor’s allocation methodologies; |
(e) | considered that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain funds of the Trust and noted that these tax benefits, which are not available to participants in qualified retirement plans under applicable income tax law, are reflected in the profitability information reviewed by the Board; |
(f) | considered that the Advisor also provides administrative services to the fund on a cost basis pursuant to an administrative services agreement; |
(g) | noted that affiliates of the Advisor provide transfer agency services and distribution services to the fund, and that the fund’s distributor also receives Rule 12b-1 payments to support distribution of the fund; |
(h) | noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the fund; |
(i) | noted that the subadvisory fee for the fund is paid by the Advisor and is negotiated at arm’s length; |
(j) | considered the Advisor’s ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and |
(k) | considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to the fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk. |
(a) | considered that the Advisor has contractually agreed to waive a portion of its management fee for certain funds of the John Hancock Fund Complex, including the fund (the participating portfolios) or |
| JOHN HANCOCK SMALL CAP VALUE FUND | 26 |
otherwise reimburse the expenses of the participating portfolios (the reimbursement). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund; | |
(b) | reviewed the fund’s advisory fee structure and concluded that: (i) the fund’s fee structure contains breakpoints at the subadvisory fee level and that such breakpoints are reflected as breakpoints in the advisory fees for the fund; and (ii) although economies of scale cannot be measured with precision, these arrangements permit shareholders of the fund to benefit from economies of scale if the fund grows. The Board also took into account management’s discussion of the fund’s advisory fee structure; and |
(c) | the Board also considered the effect of the fund’s growth in size on its performance and fees. The Board also noted that if the fund’s assets increase over time, the fund may realize other economies of scale. |
(1) | information relating to the Subadvisor’s business, including current subadvisory services to the Trust (and other funds in the John Hancock Fund Complex); |
(2) | the historical and current performance of the fund and comparative performance information relating to an applicable benchmark index and comparable funds; |
(3) | the subadvisory fee for the fund and to the extent available, comparable fee information prepared by an independent third party provider of fund data; and |
(4) | information relating to the nature and scope of any material relationships and their significance to the Trust’s Advisor and Subadvisor. |
27 | JOHN HANCOCK SMALL CAP VALUE FUND | |
(1) | the Subadvisor has extensive experience and demonstrated skills as a manager; |
(2) | the performance of the fund is being monitored and reasonably addressed, where appropriate; |
(3) | the subadvisory fee is reasonable in relation to the level and quality of services being provided under the Subadvisory Agreement; and |
(4) | noted that the subadvisory fees are paid by the Advisor not the fund and that the subadvisory fee breakpoints are reflected as breakpoints in the advisory fees for the fund in order to permit shareholders to benefit from economies of scale if the fund grows. |
| JOHN HANCOCK SMALL CAP VALUE FUND | 28 |
29 | JOHN HANCOCK SMALL CAP VALUE FUND | |
MF3827269 | 439A 8/24 |
ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 9. PROXY DISCLOSURE FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.
Information included in Item 7, if applicable.
ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.
Refer to information included in Item 7.
ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.
Information included in Item 7, if applicable.
ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATE PURCHASERS.
Not applicable.
ITEM 15. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
The registrant has adopted procedures by which shareholders may recommend nominees to the registrant's Board of Trustees. A copy of the procedures is filed as an exhibit to this Form N-CSR. See attached "John Hancock Funds – Nominating, Governance and Administration Committee Charter".
ITEM 16. CONTROLS AND PROCEDURES.
(a) Based upon their evaluation of the registrant's disclosure controls and procedures as conducted within 90 days of the filing date of this Form N-CSR, the registrant's principal executive officer and principal financial officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.
(b) There were no changes in the registrant's internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
ITEM 17. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.
Not applicable.
ITEM 19. EXHIBITS.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
John Hancock Funds II
By: | /s/ Kristie M. Feinberg |
------------------------------ | |
Kristie M. Feinberg | |
President | |
Date: | October 15, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ Kristie M. Feinberg |
------------------------------ | |
Kristie M. Feinberg | |
President | |
Date: | October 15, 2024 |
By: | /s/ Fernando A. Silva |
--------------------------- | |
Fernando A. Silva | |
Chief Financial Officer | |
Date: | October 15, 2024 |