UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-21779
JOHN HANCOCK FUNDS II |
(Exact name of registrant as specified in charter) |
200 BERKELEY STREET, BOSTON, MA 02216 |
(Address of principal executive offices) (Zip code) |
SALVATORE SCHIAVONE, 200 BERKELEY STREET, BOSTON, MA 02216 |
(Name and address of agent for service) |
Registrant's telephone number, including area code: | (617) 663-4497 |
Date of fiscal year end: 7/31
Date of reporting period: 1/31/20
ITEM 1. REPORTS TO STOCKHOLDERS.
The Registrant prepared five semiannual reports to shareholders for the period ended January 31, 2020. The first report applies to Short Duration Credit Opportunities Fund, the second report applies to Absolute Return Currency Fund, the third report applies to Fundamental All Cap Core Fund, the fourth report applies to Diversified Strategies Fund, and the fifth report applies to Multi-Asset Absolute Return Fund.
John Hancock
Short Duration Credit Opportunities Fund
Semiannual report
1/31/2020
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the fund's shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change, and you do not need to take any action. You may elect to receive shareholder reports and other communications electronically by calling John Hancock Investment Management at 800-225-5291 (Class A and Class C shares) or 888-972-8696 (Class I, Class R2, Class R4, Class R6, and Class NAV shares) or by contacting your financial intermediary.
You may elect to receive all reports in paper, free of charge, at any time. You can inform John Hancock Investment Management or your financial intermediary that you wish to continue receiving paper copies of your shareholder reports by following the instructions listed above. Your election to receive reports in paper will apply to all funds held with John Hancock Investment Management or your financial intermediary.
A message to shareholders
Dear shareholder,
The bond markets posted positive performance during the 6 months ended January 31, 2020, with strong gains coming in the investment-grade corporate and high-yield segments of the market. U.S. Treasuries and tax-exempt municipal bonds also registered gains. Fixed-income investors have benefited from a combination of declining interest rates, low inflation, and accommodative central bank policy.
After a strong period of positive returns, investors are prudent to consider the risks to future gains. Growth has slowed in the United States, with some negative data in manufacturing reflecting concerns over international trade and wavering business confidence. Additionally, the spread of the coronavirus, trade disputes, and other geopolitical tensions may continue to create uncertainty among businesses and skepticism among investors. Your financial advisor can help position your portfolio so that it's sufficiently diversified to meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I'd like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you've placed in us.
Sincerely,
Andrew G. Arnott
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO's views as of this report's period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
Short Duration Credit Opportunities Fund
INVESTMENT OBJECTIVE
The fund seeks to maximize total return, which consists of income on its investments and capital appreciation.
AVERAGE ANNUAL TOTAL RETURNS AS OF 1/31/2020 (%)
The Bloomberg Barclays 1 - 5 Year U.S. Credit Index includes investment-grade corporate and international U.S. dollar-denominated bonds with maturities of 1 to 5 years.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower. Since-inception returns for the Morningstar fund category average are not available.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus.
COUNTRY COMPOSITION AS OF 1/31/2020 (%)
United States | 74.3 |
United Kingdom | 2.4 |
Ireland | 1.5 |
Netherlands | 1.3 |
Mexico | 1.3 |
France | 1.2 |
Indonesia | 1.0 |
Canada | 1.0 |
Other countries | 16.0 |
TOTAL | 100.0 |
As a percentage of net assets. |
A note about risks
The fund is subject to various risks as described in the fund's prospectus. For more information, please refer to the "Principal risks" section of the prospectus.
TOTAL RETURNS FOR THE PERIOD ENDED
JANUARY 31, 2020
Average annual total returns (%) with maximum sales charge |
Cumulative total returns (%) with maximum sales charge |
SEC 30-day yield (%) subsidized |
SEC 30-day yield (%) unsubsidized1 |
||||||||
1-year | 5-year | 10-year | 6-month | 5-year | 10-year | as of 1-31-20 |
as of 1-31-20 |
||||
Class A | 3.43 | 2.37 | 2.99 | -0.46 | 12.40 | 34.28 | 2.62 | 2.62 | |||
Class C2 | 4.34 | 2.17 | 2.85 | 0.78 | 11.32 | 32.43 | 2.00 | 2.00 | |||
Class I3 | 6.29 | 3.19 | 3.55 | 2.18 | 17.00 | 41.77 | 3.00 | 2.99 | |||
Class R62,3 | 6.51 | 3.31 | 3.47 | 2.35 | 17.69 | 40.66 | 3.11 | 3.10 | |||
Class NAV3 | 6.41 | 3.31 | 3.72 | 2.25 | 17.68 | 44.10 | 3.13 | 3.12 | |||
Index | 6.46 | 2.69 | 3.03 | 2.84 | 14.22 | 34.73 | | |
Performance figures assume all distributions are reinvested. Figures reflect maximum sales charges on Class A shares of 2.5% and the applicable contingent deferred sales charge (CDSC) on Class C shares. The returns for Class A shares have been adjusted to reflect the reduction in the maximum sales charge from 4.5% to 2.5%, effective 2-3-14. Class C shares sold within one year of purchase are subject to a 1% CDSC. Sales charges are not applicable to Class I, Class R6, and Class NAV shares.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectuses for the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2021 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Class A | Class C | Class I | Class R6 | Class NAV | |
Gross (%) | 1.21 | 1.91 | 0.91 | 0.80 | 0.79 |
Net (%) | 1.20 | 1.90 | 0.90 | 0.79 | 0.78 |
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.
The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.
The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.
| Index is the Bloomberg Barclays 1-5 Year U.S. Credit Index. |
See the following page for footnotes.
This chart and table show what happened to a hypothetical $10,000 investment in John Hancock Short Duration Credit Opportunities Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in the Bloomberg Barclays 1-5 Year U.S. Credit Index.
Start date | With maximum sales charge ($) |
Without sales charge ($) |
Index ($) | |
Class C2,4 | 1-31-10 | 13,243 | 13,243 | 13,473 |
Class I3 | 1-31-10 | 14,177 | 14,177 | 13,473 |
Class R62,3 | 1-31-10 | 14,066 | 14,066 | 13,473 |
Class NAV3 | 1-31-10 | 14,410 | 14,410 | 13,473 |
The values shown in the chart for "Class A with maximum sales charge" have been adjusted to reflect the reduction in the Class A maximum sales charge from 4.5% to 2.5%, which became effective on 2-3-14.
The Bloomberg Barclays 1-5 Year U.S. Credit Index includes investment-grade corporate and international U.S. dollar-denominated bonds with maturities of 1 to 5 years.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Footnotes related to performance pages
1 | Unsubsidized yield reflects what the yield would have been without the effects of waivers and reimbursements. |
2 | Class C shares were first offered on 6-27-14; Class R6 shares were first offered on 3-27-15. Returns prior to these dates are those of Class A shares (first offered on 11-2-09) that have not been adjusted for class-specific expenses; otherwise, returns would vary. |
3 | For certain types of investors as described in the fund's prospectuses. |
4 | The contingent deferred sales charge is not applicable. |
Your expenses |
SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 7 |
Account
value on 8-1-2019 |
Ending
value on 1-31-2020 |
Expenses
paid during period ended 1-31-20201 |
Annualized
expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,021.40 | $6.10 | 1.20% |
Hypothetical example | 1,000.00 | 1,019.10 | 6.09 | 1.20% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,017.80 | 9.64 | 1.90% |
Hypothetical example | 1,000.00 | 1,015.60 | 9.63 | 1.90% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,021.80 | 4.57 | 0.90% |
Hypothetical example | 1,000.00 | 1,020.60 | 4.57 | 0.90% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,023.50 | 4.02 | 0.79% |
Hypothetical example | 1,000.00 | 1,021.20 | 4.01 | 0.79% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 1,022.50 | 3.97 | 0.78% |
Hypothetical example | 1,000.00 | 1,021.20 | 3.96 | 0.78% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half year period). |
8 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT |
Fund’s investments |
Rate (%) | Maturity date | Par value^ | Value | ||
U.S. Government and Agency obligations 0.5% | $3,605,671 | ||||
(Cost $3,599,388) | |||||
U.S. Government Agency 0.5% | 3,605,671 | ||||
Federal Home Loan Mortgage Corp. | |||||
30 Yr Pass Thru (12 month LIBOR + 1.625%) (A) | 2.721 | 04-01-46 | 996,525 | 1,017,352 | |
30 Yr Pass Thru (12 month LIBOR + 1.650%) (A) | 3.639 | 12-01-42 | 414,349 | 428,379 | |
30 Yr Pass Thru (12 month LIBOR + 1.743%) (A) | 4.031 | 01-01-37 | 47,997 | 50,373 | |
30 Yr Pass Thru (12 month LIBOR + 1.619%) (A) | 4.390 | 05-01-43 | 220,926 | 228,106 | |
Federal National Mortgage Association | |||||
30 Yr Pass Thru (12 month LIBOR + 1.600%) (A) | 2.287 | 08-01-45 | 185,778 | 189,248 | |
30 Yr Pass Thru (12 month LIBOR + 1.582%) (A) | 2.841 | 12-01-44 | 769,648 | 786,528 | |
30 Yr Pass Thru (12 month LIBOR + 1.778%) (A) | 4.039 | 04-01-44 | 350,428 | 364,764 | |
30 Yr Pass Thru (1 Year CMT + 2.227%) (A) | 4.399 | 01-01-37 | 215,343 | 227,240 | |
30 Yr Pass Thru (12 month LIBOR + 1.765%) (A) | 4.740 | 10-01-38 | 115,433 | 121,568 | |
Government National Mortgage Association | |||||
30 Yr Pass Thru | 4.500 | 01-15-40 | 93,973 | 103,153 | |
30 Yr Pass Thru | 6.000 | 08-15-35 | 77,908 | 88,960 | |
Foreign government obligations 11.5% | $94,416,805 | ||||
(Cost $91,615,036) | |||||
Angola 0.3% | 2,814,789 | ||||
Republic of Angola | |||||
Bond (6 month LIBOR + 4.500%) (A) | 6.388 | 12-07-23 | 168,000 | 163,800 | |
Bond (B) | 9.125 | 11-26-49 | 928,000 | 978,233 | |
Bond (B) | 9.375 | 05-08-48 | 187,000 | 202,552 | |
Bond (6 month LIBOR + 7.500%) (A) | 9.412 | 07-01-23 | 1,048,462 | 1,136,921 | |
Bond | 9.500 | 11-12-25 | 285,000 | 333,283 | |
Argentina 0.4% | 3,268,630 | ||||
Republic of Argentina | |||||
Bond | 3.375 | 01-15-23 | EUR | 423,000 | 207,459 |
Bond | 5.000 | 01-15-27 | EUR | 107,000 | 49,591 |
Bond | 6.625 | 07-06-28 | 451,000 | 200,249 | |
Bond | 6.875 | 01-26-27 | 450,000 | 201,600 | |
Bond | 7.820 | 12-31-33 | EUR | 4,439,675 | 2,609,731 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 9 |
Rate (%) | Maturity date | Par value^ | Value | ||
Azerbaijan 0.0% | $307,680 | ||||
Republic of Azerbaijan | |||||
Bond (B) | 3.500 | 09-01-32 | 306,000 | 307,680 | |
Bahrain 0.1% | 627,025 | ||||
Kingdom of Bahrain | |||||
Bond (B) | 6.000 | 09-19-44 | 140,000 | 145,342 | |
Bond (B) | 7.000 | 10-12-28 | 408,000 | 481,683 | |
Belarus 0.1% | 512,922 | ||||
Republic of Belarus | |||||
Bond | 6.200 | 02-28-30 | 200,000 | 218,246 | |
Bond | 7.625 | 06-29-27 | 255,000 | 294,676 | |
Benin 0.1% | 490,242 | ||||
Republic of Benin | |||||
Bond (B) | 5.750 | 03-26-26 | EUR | 428,000 | 490,242 |
Bolivia 0.0% | 212,007 | ||||
Plurinational State of Bolivia | |||||
Bond | 4.500 | 03-20-28 | 218,000 | 212,007 | |
Brazil 0.8% | 6,444,878 | ||||
Brazil Minas SPE | |||||
Bond | 5.333 | 02-15-28 | 1,183,500 | 1,275,233 | |
Bond (B) | 5.333 | 02-15-28 | 107,100 | 115,401 | |
Federative Republic of Brazil | |||||
Bill (C) | 3.987 | 07-01-20 | BRL | 480,000 | 110,246 |
Bond | 4.500 | 05-30-29 | 208,000 | 225,890 | |
Bond | 4.625 | 01-13-28 | 8,000 | 8,820 | |
Bond | 4.750 | 01-14-50 | 774,000 | 797,994 | |
Bond | 5.000 | 01-27-45 | 753,000 | 812,306 | |
Note | 10.000 | 01-01-21 | BRL | 5,350,000 | 1,320,148 |
Note | 10.000 | 01-01-23 | BRL | 1,490,000 | 391,331 |
Note | 10.000 | 01-01-25 | BRL | 1,410,000 | 383,519 |
Note | 10.000 | 01-01-27 | BRL | 2,740,000 | 765,388 |
Note | 10.000 | 01-01-29 | BRL | 695,000 | 198,261 |
Note | 10.000 | 01-01-31 | BRL | 140,000 | 40,341 |
Cameroon 0.0% | 107,091 | ||||
Republic of Cameroon | |||||
Bond (B) | 9.500 | 11-19-25 | 94,000 | 107,091 | |
Chile 0.1% | 636,955 | ||||
Republic of Chile | |||||
Bond | 4.500 | 03-01-26 | CLP | 225,000,000 | 311,340 |
Bond (B) | 4.700 | 09-01-30 | CLP | 230,000,000 | 325,615 |
Colombia 0.6% | 4,907,054 | ||||
Bogota Distrito Capital | |||||
Bond | 9.750 | 07-26-28 | COP | 427,000,000 | 141,896 |
10 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Colombia (continued) | |||||
Republic of Colombia | |||||
Bond | 3.875 | 04-25-27 | 95,000 | $102,078 | |
Bond | 4.375 | 03-21-23 | COP | 2,800,000,000 | 801,050 |
Bond | 4.500 | 01-28-26 | 325,000 | 358,277 | |
Bond | 4.500 | 03-15-29 | 628,000 | 708,742 | |
Bond | 5.000 | 06-15-45 | 143,000 | 173,602 | |
Bond | 5.200 | 05-15-49 | 568,000 | 713,408 | |
Bond | 8.125 | 05-21-24 | 312,000 | 385,713 | |
Bond | 9.850 | 06-28-27 | COP | 2,888,000,000 | 1,068,450 |
Bond | 10.375 | 01-28-33 | 278,000 | 453,838 | |
Costa Rica 0.0% | 201,600 | ||||
Republic of Costa Rica | |||||
Bond | 4.375 | 04-30-25 | 200,000 | 201,600 | |
Czech Republic 0.1% | 1,105,235 | ||||
Czech Republic | |||||
Bond | 0.250 | 02-10-27 | CZK | 9,020,000 | 362,744 |
Bond | 0.950 | 05-15-30 | CZK | 8,470,000 | 352,582 |
Bond | 1.000 | 06-26-26 | CZK | 2,620,000 | 111,450 |
Bond | 2.750 | 07-23-29 | CZK | 930,000 | 45,361 |
Bond | 4.200 | 12-04-36 | CZK | 3,800,000 | 233,098 |
Dominican Republic 0.3% | 2,722,184 | ||||
Government of Dominican Republic | |||||
Bond (B) | 4.500 | 01-30-30 | 200,000 | 199,752 | |
Bond | 5.500 | 01-27-25 | 202,000 | 216,142 | |
Bond (B) | 5.875 | 04-18-24 | 93,000 | 99,627 | |
Bond (B) | 5.875 | 01-30-60 | 396,000 | 395,802 | |
Bond | 5.950 | 01-25-27 | 290,000 | 318,640 | |
Bond | 6.600 | 01-28-24 | 347,000 | 385,607 | |
Bond | 6.875 | 01-29-26 | 347,000 | 395,583 | |
Bond (B) | 7.450 | 04-30-44 | 595,000 | 711,031 | |
Ecuador 0.3% | 2,720,119 | ||||
Republic of Ecuador | |||||
Bond | 7.875 | 03-27-25 | 446,000 | 381,330 | |
Bond (B) | 7.875 | 01-23-28 | 237,000 | 197,599 | |
Bond | 7.875 | 01-23-28 | 272,000 | 221,003 | |
Bond | 8.875 | 10-23-27 | 305,000 | 258,106 | |
Bond (B) | 10.750 | 01-31-29 | 1,834,000 | 1,662,081 | |
Egypt 0.5% | 3,981,839 | ||||
Arab Republic of Egypt | |||||
Bond (B) | 4.750 | 04-16-26 | EUR | 125,000 | 148,404 |
Bond (B) | 5.577 | 02-21-23 | 192,000 | 201,730 | |
Bond (B) | 5.625 | 04-16-30 | EUR | 1,251,000 | 1,455,098 |
Bond (B) | 6.125 | 01-31-22 | 609,000 | 639,108 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 11 |
Rate (%) | Maturity date | Par value^ | Value | ||
Egypt (continued) | |||||
Bond (B) | 6.375 | 04-11-31 | EUR | 226,000 | $272,583 |
Bond (B) | 8.150 | 11-20-59 | 181,000 | 197,950 | |
Bond (B) | 8.500 | 01-31-47 | 693,000 | 792,835 | |
Bond | 14.400 | 09-10-29 | EGP | 1,840,000 | 119,892 |
Bond | 15.600 | 08-06-26 | EGP | 2,270,000 | 154,239 |
El Salvador 0.1% | 959,986 | ||||
Republic of El Salvador | |||||
Bond | 7.650 | 06-15-35 | 456,000 | 530,105 | |
Bond | 8.250 | 04-10-32 | 189,000 | 230,864 | |
Bond | 8.625 | 02-28-29 | 162,000 | 199,017 | |
Ghana 0.2% | 1,272,416 | ||||
Republic of Ghana | |||||
Bond (B) | 7.875 | 03-26-27 | 167,000 | 178,490 | |
Bond (B) | 8.125 | 01-18-26 | 48,000 | 53,340 | |
Bond (B) | 8.627 | 06-16-49 | 177,000 | 177,404 | |
Bond (B) | 8.950 | 03-26-51 | 223,000 | 227,781 | |
Bond (B) | 10.750 | 10-14-30 | 494,000 | 635,401 | |
Hungary 0.0% | 317,883 | ||||
Republic of Hungary | |||||
Bond | 5.375 | 03-25-24 | 59,000 | 67,196 | |
Bond | 7.625 | 03-29-41 | 149,000 | 250,687 | |
Indonesia 0.8% | 6,714,373 | ||||
Republic of Indonesia | |||||
Bond | 2.850 | 02-14-30 | 402,000 | 406,964 | |
Bond | 3.700 | 10-30-49 | 295,000 | 307,090 | |
Bond (B) | 3.850 | 07-18-27 | 1,339,000 | 1,443,675 | |
Bond (B) | 4.350 | 01-08-27 | 20,000 | 22,131 | |
Bond | 5.250 | 01-17-42 | 673,000 | 832,110 | |
Bond (B) | 5.250 | 01-08-47 | 52,000 | 65,154 | |
Bond | 7.500 | 08-15-32 | IDR | 1,000,000,000 | 74,634 |
Bond | 7.500 | 05-15-38 | IDR | 2,889,000,000 | 211,075 |
Bond | 8.250 | 05-15-36 | IDR | 8,904,000,000 | 700,337 |
Bond | 8.375 | 03-15-24 | IDR | 13,640,000,000 | 1,085,511 |
Bond | 8.375 | 09-15-26 | IDR | 8,028,000,000 | 649,265 |
Bond | 8.375 | 03-15-34 | IDR | 9,130,000,000 | 734,746 |
Bond | 8.375 | 04-15-39 | IDR | 1,902,000,000 | 151,976 |
Bond | 9.000 | 03-15-29 | IDR | 356,000,000 | 29,705 |
Ivory Coast 0.1% | 1,113,030 | ||||
Republic of Ivory Coast | |||||
Bond (B) | 5.875 | 10-17-31 | EUR | 598,000 | 702,570 |
Bond | 6.125 | 06-15-33 | 400,000 | 410,460 |
12 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Jamaica 0.1% | $529,044 | ||||
Government of Jamaica | |||||
Bond | 7.875 | 07-28-45 | 389,000 | 529,044 | |
Jordan 0.1% | 567,848 | ||||
Kingdom of Jordan | |||||
Bond (B) | 5.750 | 01-31-27 | 531,000 | 567,848 | |
Kenya 0.1% | 1,020,333 | ||||
Republic of Kenya | |||||
Bond | 6.875 | 06-24-24 | 339,000 | 367,687 | |
Bond (B) | 7.000 | 05-22-27 | 211,000 | 224,109 | |
Bond (B) | 8.000 | 05-22-32 | 185,000 | 201,272 | |
Bond | 8.250 | 02-28-48 | 211,000 | 227,265 | |
Lebanon 0.0% | 362,572 | ||||
Republic of Lebanon | |||||
Bond | 6.650 | 04-22-24 | 475,000 | 178,360 | |
Bond | 6.750 | 11-29-27 | 500,000 | 184,212 | |
Malaysia 0.1% | 1,094,540 | ||||
Government of Malaysia | |||||
Bond | 3.502 | 05-31-27 | MYR | 416,000 | 104,079 |
Bond | 3.620 | 11-30-21 | MYR | 180,000 | 44,533 |
Bond | 3.733 | 06-15-28 | MYR | 450,000 | 114,496 |
Bond | 3.885 | 08-15-29 | MYR | 979,000 | 253,607 |
Bond | 3.899 | 11-16-27 | MYR | 347,000 | 89,143 |
Bond | 3.906 | 07-15-26 | MYR | 1,410,000 | 361,388 |
Bond | 4.498 | 04-15-30 | MYR | 470,000 | 127,294 |
Mexico 0.7% | 5,525,124 | ||||
Government of Mexico | |||||
Bond | 3.250 | 04-16-30 | 295,000 | 300,163 | |
Bond | 4.350 | 01-15-47 | 67,000 | 73,399 | |
Bond | 4.500 | 04-22-29 | 1,422,000 | 1,591,943 | |
Bond | 4.750 | 03-08-44 | 128,000 | 147,008 | |
Bond | 5.750 | 03-05-26 | MXN | 9,530,000 | 482,983 |
Bond | 6.500 | 06-10-21 | MXN | 1,660,000 | 87,601 |
Bond | 7.500 | 06-03-27 | MXN | 14,140,000 | 786,281 |
Bond | 7.750 | 11-13-42 | MXN | 12,180,000 | 702,580 |
Bond | 10.000 | 12-05-24 | MXN | 22,396,500 | 1,353,166 |
Mozambique 0.1% | 618,031 | ||||
Republic of Mozambique | |||||
Bond (B) | 5.000 | 09-15-31 | 646,000 | 618,031 | |
Nigeria 0.3% | 2,028,819 | ||||
Federal Republic of Nigeria | |||||
Bond (B) | 6.500 | 11-28-27 | 1,078,000 | 1,110,163 | |
Bond (B) | 7.143 | 02-23-30 | 495,000 | 510,045 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 13 |
Rate (%) | Maturity date | Par value^ | Value | ||
Nigeria (continued) | |||||
Bond (B) | 7.625 | 11-28-47 | 268,000 | $260,957 | |
Bond (B) | 7.875 | 02-16-32 | 141,000 | 147,654 | |
Oman 0.3% | 2,047,761 | ||||
Sultanate of Oman | |||||
Bond | 3.625 | 06-15-21 | 521,000 | 523,472 | |
Bond (B) | 3.875 | 03-08-22 | 296,000 | 298,960 | |
Bond (B) | 4.875 | 02-01-25 | 10,000 | 10,313 | |
Bond (B) | 5.375 | 03-08-27 | 831,000 | 859,655 | |
Bond (B) | 6.000 | 08-01-29 | 340,000 | 355,361 | |
Pakistan 0.1% | 756,664 | ||||
Republic of Pakistan | |||||
Bond | 6.875 | 12-05-27 | 716,000 | 756,664 | |
Panama 0.2% | 1,662,661 | ||||
Republic of Panama | |||||
Bond | 3.160 | 01-23-30 | 1,573,000 | 1,662,661 | |
Papua New Guinea 0.1% | 1,183,173 | ||||
Independent State of Papua New Guinea | |||||
Bond (B) | 8.375 | 10-04-28 | 1,093,000 | 1,183,173 | |
Paraguay 0.1% | 857,465 | ||||
Republic of Paraguay | |||||
Bond (B) | 5.400 | 03-30-50 | 318,000 | 372,461 | |
Bond (B) | 6.100 | 08-11-44 | 388,000 | 485,004 | |
Peru 0.2% | 1,702,938 | ||||
Republic of Peru | |||||
Bond (B) | 5.400 | 08-12-34 | PEN | 540,000 | 171,655 |
Bond | 5.625 | 11-18-50 | 170,000 | 260,525 | |
Bond (B) | 5.940 | 02-12-29 | PEN | 510,000 | 173,182 |
Bond (B) | 6.150 | 08-12-32 | PEN | 2,491,000 | 853,976 |
Bond | 6.550 | 03-14-37 | 160,000 | 243,600 | |
Poland 0.3% | 2,558,867 | ||||
Republic of Poland | |||||
Bond | 2.000 | 04-25-21 | PLN | 420,000 | 109,184 |
Bond | 2.500 | 04-25-24 | PLN | 930,000 | 247,079 |
Bond | 2.500 | 07-25-26 | PLN | 3,316,000 | 879,933 |
Bond | 2.750 | 04-25-28 | PLN | 1,480,000 | 398,862 |
Bond | 4.000 | 10-25-23 | PLN | 1,290,000 | 359,939 |
Bond | 5.750 | 09-23-22 | PLN | 1,976,000 | 563,870 |
Qatar 0.4% | 3,048,725 | ||||
State of Qatar | |||||
Bond (B) | 4.000 | 03-14-29 | 1,258,000 | 1,418,463 | |
Bond | 4.000 | 03-14-29 | 235,000 | 265,378 |
14 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Qatar (continued) | |||||
Bond (B) | 4.500 | 04-23-28 | 199,000 | $230,664 | |
Bond (B) | 5.103 | 04-23-48 | 658,000 | 869,833 | |
Bond | 5.103 | 04-23-48 | 200,000 | 264,387 | |
Romania 0.2% | 1,316,378 | ||||
Government of Romania | |||||
Bond | 3.875 | 10-29-35 | EUR | 526,000 | 695,245 |
Bond | 4.125 | 03-11-39 | EUR | 70,000 | 93,706 |
Bond (B) | 4.625 | 04-03-49 | EUR | 136,000 | 193,063 |
Bond | 5.000 | 02-12-29 | RON | 1,365,000 | 334,364 |
Russia 0.8% | 6,880,796 | ||||
Government of Russia | |||||
Bond | 4.250 | 06-23-27 | 200,000 | 221,163 | |
Bond | 4.750 | 05-27-26 | 800,000 | 904,760 | |
Bond | 4.875 | 09-16-23 | 200,000 | 219,023 | |
Bond | 5.100 | 03-28-35 | 800,000 | 977,680 | |
Bond | 5.250 | 06-23-47 | 1,000,000 | 1,310,028 | |
Bond | 7.050 | 01-19-28 | RUB | 51,960,000 | 862,892 |
Bond | 7.400 | 12-07-22 | RUB | 39,800,000 | 653,202 |
Bond | 7.700 | 03-23-33 | RUB | 29,600,000 | 521,099 |
Bond | 7.750 | 09-16-26 | RUB | 25,710,000 | 440,513 |
Bond | 7.950 | 10-07-26 | RUB | 21,710,000 | 375,475 |
Bond | 8.150 | 02-03-27 | RUB | 22,520,000 | 394,961 |
Saudi Arabia 0.3% | 2,081,540 | ||||
Kingdom of Saudi Arabia | |||||
Bond (B) | 3.625 | 03-04-28 | 263,000 | 282,844 | |
Bond (B) | 4.375 | 04-16-29 | 117,000 | 133,492 | |
Bond (B) | 4.500 | 04-17-30 | 106,000 | 123,437 | |
Bond | 4.500 | 10-26-46 | 866,000 | 991,032 | |
Bond (B) | 4.625 | 10-04-47 | 212,000 | 246,880 | |
KSA Sukuk, Ltd. | |||||
Bond (B) | 3.628 | 04-20-27 | 282,000 | 303,855 | |
Senegal 0.1% | 598,018 | ||||
Republic of Senegal | |||||
Bond (B) | 6.250 | 05-23-33 | 560,000 | 598,018 | |
South Africa 0.5% | 3,958,899 | ||||
Republic of South Africa | |||||
Bond | 4.665 | 01-17-24 | 56,000 | 58,660 | |
Bond | 4.875 | 04-14-26 | 207,000 | 217,182 | |
Bond | 5.000 | 10-12-46 | 55,000 | 51,461 | |
Bond | 5.750 | 09-30-49 | 400,000 | 393,484 | |
Bond | 5.875 | 06-22-30 | 164,000 | 178,632 | |
Bond | 6.250 | 03-31-36 | ZAR | 22,600,000 | 1,077,403 |
Bond | 6.300 | 06-22-48 | 78,000 | 83,070 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 15 |
Rate (%) | Maturity date | Par value^ | Value | ||
South Africa (continued) | |||||
Bond | 7.000 | 02-28-31 | ZAR | 10,650,000 | $602,732 |
Bond | 8.875 | 02-28-35 | ZAR | 2,340,000 | 145,395 |
Bond | 10.500 | 12-21-26 | ZAR | 15,320,000 | 1,150,880 |
Sri Lanka 0.2% | 1,512,899 | ||||
Republic of Sri Lanka | |||||
Bond (B) | 5.750 | 04-18-23 | 139,000 | 139,133 | |
Bond | 6.200 | 05-11-27 | 196,000 | 186,489 | |
Bond | 6.250 | 07-27-21 | 477,000 | 486,621 | |
Bond (B) | 6.750 | 04-18-28 | 624,000 | 602,205 | |
Bond (B) | 7.850 | 03-14-29 | 97,000 | 98,451 | |
Thailand 0.2% | 1,444,921 | ||||
Kingdom of Thailand | |||||
Bond | 2.875 | 12-17-28 | THB | 16,330,000 | 592,705 |
Bond | 3.775 | 06-25-32 | THB | 21,160,000 | 852,216 |
Tunisia 0.0% | 323,277 | ||||
Banque Centrale de Tunisia | |||||
Bond | 5.625 | 02-17-24 | EUR | 294,000 | 323,277 |
Turkey 0.6% | 4,601,559 | ||||
Hazine Mustesarligi Varlik Kiralama AS | |||||
Bond (B) | 5.800 | 02-21-22 | 119,000 | 124,374 | |
Republic of Turkey | |||||
Bond | 5.125 | 02-17-28 | 75,000 | 75,204 | |
Bond | 5.750 | 03-22-24 | 100,000 | 106,000 | |
Bond | 5.750 | 05-11-47 | 305,000 | 294,478 | |
Bond | 6.000 | 03-25-27 | 165,000 | 174,697 | |
Bond | 6.125 | 10-24-28 | 389,000 | 412,904 | |
Bond | 6.250 | 09-26-22 | 946,000 | 1,010,756 | |
Bond | 6.875 | 03-17-36 | 469,000 | 521,497 | |
Bond | 7.375 | 02-05-25 | 521,000 | 589,342 | |
Bond | 7.625 | 04-26-29 | 197,000 | 229,211 | |
Bond | 8.000 | 03-12-25 | TRY | 3,510,000 | 544,850 |
Bond | 10.700 | 02-17-21 | TRY | 1,080,000 | 182,083 |
Bond | 10.700 | 08-17-22 | TRY | 490,000 | 83,594 |
Bond | 11.000 | 02-24-27 | TRY | 1,426,000 | 252,569 |
Ukraine 0.3% | 2,310,123 | ||||
Republic of Ukraine | |||||
Bond (B) | 4.375 | 01-27-30 | EUR | 273,000 | 300,558 |
Bond (B) | 6.750 | 06-20-26 | EUR | 301,000 | 386,856 |
Bond (B) | 7.375 | 09-25-32 | 189,000 | 208,845 | |
Bond (B) | 7.750 | 09-01-26 | 248,000 | 280,860 | |
Bond (B) | 7.750 | 09-01-27 | 157,000 | 177,759 | |
Bond (B) | 8.994 | 02-01-24 | 564,000 | 646,485 | |
Bond (B) | 9.750 | 11-01-28 | 248,000 | 308,760 |
16 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
United Arab Emirates 0.0% | $294,664 | ||||
Abu Dhabi Government | |||||
Bond (B) | 4.125 | 10-11-47 | 248,000 | 294,664 | |
Uruguay 0.2% | 1,553,172 | ||||
Republic of Uruguay | |||||
Bond | 4.125 | 11-20-45 | 197,000 | 223,103 | |
Bond | 4.975 | 04-20-55 | 171,000 | 211,828 | |
Bond | 5.100 | 06-18-50 | 848,865 | 1,067,456 | |
Bond (B) | 8.500 | 03-15-28 | UYU | 2,160,000 | 50,785 |
Venezuela 0.0% | 168,315 | ||||
Republic of Venezuela | |||||
Bond (D) | 7.750 | 10-13-19 | 1,374,000 | 168,315 | |
Zambia 0.0% | 369,741 | ||||
Republic of Zambia | |||||
Bond (B) | 5.375 | 09-20-22 | 126,000 | 86,965 | |
Bond (B) | 8.500 | 04-14-24 | 414,000 | 282,776 | |
Corporate bonds 39.0% | $320,197,872 | ||||
(Cost $304,006,235) | |||||
Communication services 4.7% | 38,353,740 | ||||
Diversified telecommunication services 1.0% | |||||
Altice France SA (B) | 7.375 | 05-01-26 | 845,000 | 898,911 | |
AT&T, Inc. | 4.350 | 03-01-29 | 1,950,000 | 2,201,707 | |
Axtel SAB de CV (B) | 6.375 | 11-14-24 | 214,000 | 226,040 | |
CenturyLink, Inc. (B) | 4.000 | 02-15-27 | 411,000 | 412,878 | |
Level 3 Financing, Inc. (B) | 4.625 | 09-15-27 | 632,000 | 649,393 | |
Midcontinent Communications (B) | 5.375 | 08-15-27 | 230,000 | 243,225 | |
UPCB Finance IV, Ltd. (B) | 5.375 | 01-15-25 | 485,000 | 496,650 | |
Verizon Communications, Inc. | 4.329 | 09-21-28 | 1,900,000 | 2,198,708 | |
Zayo Group LLC (B) | 5.750 | 01-15-27 | 639,000 | 652,515 | |
Ziggo BV (B) | 5.500 | 01-15-27 | 510,000 | 540,600 | |
Entertainment 0.3% | |||||
Lions Gate Capital Holdings LLC (B) | 6.375 | 02-01-24 | 590,000 | 592,950 | |
Live Nation Entertainment, Inc. (B) | 4.750 | 10-15-27 | 480,000 | 493,824 | |
Netflix, Inc. | 4.875 | 04-15-28 | 690,000 | 738,300 | |
Netflix, Inc. (B) | 4.875 | 06-15-30 | 424,000 | 442,285 | |
Interactive media and services 0.3% | |||||
Tencent Holdings, Ltd. (B) | 3.595 | 01-19-28 | 2,075,000 | 2,214,254 | |
Twitter, Inc. (B) | 3.875 | 12-15-27 | 236,000 | 236,295 | |
Media 2.5% | |||||
AMC Networks, Inc. | 4.750 | 08-01-25 | 424,000 | 428,062 | |
Cablevision Systems Corp. | 5.875 | 09-15-22 | 515,000 | 553,625 | |
CCO Holdings LLC (B) | 5.125 | 05-01-27 | 520,000 | 543,400 | |
CCO Holdings LLC (B) | 5.375 | 06-01-29 | 495,000 | 529,056 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 17 |
Rate (%) | Maturity date | Par value^ | Value | ||
Communication services (continued) | |||||
Media (continued) | |||||
CCO Holdings LLC (B) | 5.500 | 05-01-26 | 410,000 | $428,450 | |
Charter Communications Operating LLC | 6.484 | 10-23-45 | 2,675,000 | 3,470,293 | |
Comcast Corp. | 3.969 | 11-01-47 | 2,000,000 | 2,295,543 | |
Cox Communications, Inc. (B) | 3.350 | 09-15-26 | 2,050,000 | 2,174,964 | |
CSC Holdings LLC (B) | 7.500 | 04-01-28 | 1,185,000 | 1,348,175 | |
Discovery Communications LLC | 5.000 | 09-20-37 | 2,200,000 | 2,556,554 | |
DISH DBS Corp. | 7.750 | 07-01-26 | 614,000 | 644,700 | |
Lamar Media Corp. (B) | 4.000 | 02-15-30 | 463,000 | 466,473 | |
Sirius XM Radio, Inc. (B) | 4.625 | 07-15-24 | 260,000 | 269,588 | |
Sirius XM Radio, Inc. (B) | 5.000 | 08-01-27 | 855,000 | 897,750 | |
TEGNA, Inc. (B) | 4.625 | 03-15-28 | 478,000 | 480,390 | |
Telenet Finance Luxembourg Notes Sarl (B) | 5.500 | 03-01-28 | 600,000 | 636,327 | |
Terrier Media Buyer, Inc. (B) | 8.875 | 12-15-27 | 333,000 | 342,990 | |
The Interpublic Group of Companies, Inc. | 4.650 | 10-01-28 | 2,150,000 | 2,486,881 | |
Wireless telecommunication services 0.6% | |||||
Millicom International Cellular SA (B) | 6.250 | 03-25-29 | 139,000 | 153,220 | |
Sprint Corp. | 7.625 | 02-15-25 | 1,192,000 | 1,240,860 | |
T-Mobile USA, Inc. | 5.375 | 04-15-27 | 555,000 | 592,463 | |
T-Mobile USA, Inc. | 6.500 | 01-15-26 | 325,000 | 346,596 | |
Vodafone Group PLC | 5.000 | 05-30-38 | 1,850,000 | 2,228,845 | |
Consumer discretionary 4.1% | 33,517,930 | ||||
Auto components 0.3% | |||||
Dana Financing Luxembourg Sarl (B) | 6.500 | 06-01-26 | 335,000 | 355,100 | |
Lear Corp. | 5.250 | 05-15-49 | 1,175,000 | 1,288,525 | |
Panther BF Aggregator 2 LP (B) | 6.250 | 05-15-26 | 495,000 | 530,938 | |
Panther BF Aggregator 2 LP (B) | 8.500 | 05-15-27 | 287,000 | 308,525 | |
Automobiles 0.8% | |||||
Ford Motor Credit Company LLC | 4.271 | 01-09-27 | 2,100,000 | 2,132,868 | |
General Motors Financial Company, Inc. | 4.350 | 01-17-27 | 2,000,000 | 2,147,338 | |
Hyundai Capital America (B) | 3.000 | 10-30-20 | 925,000 | 932,245 | |
Hyundai Capital America (B) | 3.250 | 09-20-22 | 1,175,000 | 1,208,378 | |
Diversified consumer services 0.1% | |||||
Prime Security Services Borrower LLC (B) | 6.250 | 01-15-28 | 313,000 | 310,066 | |
WW International, Inc. (B) | 8.625 | 12-01-25 | 605,000 | 632,225 | |
Hotels, restaurants and leisure 0.9% | |||||
Boyd Gaming Corp. | 6.000 | 08-15-26 | 220,000 | 233,750 | |
Churchill Downs, Inc. (B) | 5.500 | 04-01-27 | 425,000 | 448,375 | |
International Game Technology PLC (B) | 6.250 | 01-15-27 | 502,000 | 563,495 | |
NCL Corp., Ltd. (B) | 3.625 | 12-15-24 | 472,000 | 468,460 |
18 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Consumer discretionary (continued) | |||||
Hotels, restaurants and leisure (continued) | |||||
New Red Finance, Inc. (B) | 3.875 | 01-15-28 | 180,000 | $181,143 | |
New Red Finance, Inc. (B) | 4.375 | 01-15-28 | 435,000 | 436,044 | |
Royal Caribbean Cruises, Ltd. | 2.650 | 11-28-20 | 2,150,000 | 2,161,036 | |
Sands China, Ltd. | 4.600 | 08-08-23 | 2,100,000 | 2,222,619 | |
Station Casinos LLC (B) | 5.000 | 10-01-25 | 480,000 | 491,256 | |
Household durables 0.2% | |||||
KB Home | 4.800 | 11-15-29 | 275,000 | 285,313 | |
PulteGroup, Inc. | 5.000 | 01-15-27 | 464,000 | 512,720 | |
TopBuild Corp. (B) | 5.625 | 05-01-26 | 535,000 | 557,738 | |
Internet and direct marketing retail 0.9% | |||||
Alibaba Group Holding, Ltd. | 4.000 | 12-06-37 | 2,000,000 | 2,272,223 | |
Amazon.com, Inc. | 3.875 | 08-22-37 | 1,900,000 | 2,230,784 | |
Expedia Group, Inc. (B) | 3.250 | 02-15-30 | 3,300,000 | 3,252,987 | |
Leisure products 0.1% | |||||
Diamond Sports Group LLC (B) | 5.375 | 08-15-26 | 482,000 | 480,121 | |
Diamond Sports Group LLC (B)(E) | 6.625 | 08-15-27 | 317,000 | 296,395 | |
Multiline retail 0.3% | |||||
Dollar Tree, Inc. | 4.000 | 05-15-25 | 2,050,000 | 2,220,301 | |
Specialty retail 0.3% | |||||
AutoZone, Inc. | 3.750 | 04-18-29 | 2,000,000 | 2,181,734 | |
Party City Holdings, Inc. (B) | 6.625 | 08-01-26 | 493,000 | 350,030 | |
Textiles, apparel and luxury goods 0.2% | |||||
Hanesbrands, Inc. (B) | 4.625 | 05-15-24 | 575,000 | 602,313 | |
Hanesbrands, Inc. (B) | 4.875 | 05-15-26 | 206,000 | 217,073 | |
Levi Strauss & Company | 5.000 | 05-01-25 | 555,000 | 572,416 | |
The William Carter Company (B) | 5.625 | 03-15-27 | 407,000 | 433,396 | |
Consumer staples 1.1% | 9,159,145 | ||||
Beverages 0.1% | |||||
Cott Holdings, Inc. (B) | 5.500 | 04-01-25 | 610,000 | 632,875 | |
Food and staples retailing 0.3% | |||||
Albertsons Companies, Inc. (B) | 4.875 | 02-15-30 | 463,000 | 475,733 | |
Albertsons Companies, Inc. (B) | 5.875 | 02-15-28 | 225,000 | 240,188 | |
Albertsons Companies, Inc. | 6.625 | 06-15-24 | 575,000 | 598,000 | |
Ingles Markets, Inc. | 5.750 | 06-15-23 | 509,000 | 517,694 | |
The Kroger Company | 4.450 | 02-01-47 | 1,075,000 | 1,173,560 | |
Food products 0.4% | |||||
Adecoagro SA (B) | 6.000 | 09-21-27 | 295,000 | 295,738 | |
Chobani LLC (B)(E) | 7.500 | 04-15-25 | 460,000 | 457,525 | |
JBS USA LUX SA (B) | 6.500 | 04-15-29 | 860,000 | 963,209 | |
Pilgrim's Pride Corp. (B) | 5.750 | 03-15-25 | 375,000 | 385,313 | |
Pilgrim's Pride Corp. (B) | 5.875 | 09-30-27 | 330,000 | 350,031 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 19 |
Rate (%) | Maturity date | Par value^ | Value | ||
Consumer staples (continued) | |||||
Food products (continued) | |||||
Post Holdings, Inc. (B) | 5.000 | 08-15-26 | 445,000 | $459,463 | |
Post Holdings, Inc. (B) | 5.500 | 03-01-25 | 345,000 | 357,361 | |
Food, beverage and tobacco 0.3% | |||||
Imperial Brands Finance PLC (B) | 3.500 | 07-26-26 | 2,175,000 | 2,252,455 | |
Energy 5.9% | 48,261,786 | ||||
Energy equipment and services 0.2% | |||||
Apergy Corp. | 6.375 | 05-01-26 | 405,000 | 429,300 | |
Archrock Partners LP (B) | 6.250 | 04-01-28 | 380,000 | 390,925 | |
Inkia Energy, Ltd. (B) | 5.875 | 11-09-27 | 223,000 | 235,267 | |
SESI LLC | 7.750 | 09-15-24 | 425,000 | 264,609 | |
Transocean, Inc. (B) | 8.000 | 02-01-27 | 407,000 | 378,836 | |
Oil, gas and consumable fuels 5.7% | |||||
Abu Dhabi Crude Oil Pipeline LLC (B) | 3.650 | 11-02-29 | 518,000 | 563,973 | |
Abu Dhabi Crude Oil Pipeline LLC (B) | 4.600 | 11-02-47 | 665,000 | 781,375 | |
AI Candelaria Spain SLU (B) | 7.500 | 12-15-28 | 326,000 | 371,902 | |
Alta Mesa Holdings LP (D) | 7.875 | 12-15-24 | 460,000 | 5,750 | |
Antero Midstream Partners LP (B) | 5.750 | 03-01-27 | 996,000 | 776,830 | |
Antero Midstream Partners LP (B) | 5.750 | 01-15-28 | 344,000 | 267,529 | |
Antero Resources Corp. | 5.000 | 03-01-25 | 600,000 | 395,880 | |
Apache Corp. | 5.100 | 09-01-40 | 2,150,000 | 2,173,307 | |
Boardwalk Pipelines LP | 5.950 | 06-01-26 | 2,125,000 | 2,441,268 | |
Cheniere Corpus Christi Holdings LLC | 5.125 | 06-30-27 | 1,825,000 | 2,033,485 | |
Concho Resources, Inc. | 3.750 | 10-01-27 | 2,100,000 | 2,217,079 | |
DCP Midstream Operating LP | 5.125 | 05-15-29 | 545,000 | 574,975 | |
Diamondback Energy, Inc. | 2.875 | 12-01-24 | 2,175,000 | 2,211,668 | |
Empresa Nacional del Petroleo | 3.750 | 08-05-26 | 210,000 | 219,066 | |
Enterprise Products Operating LLC (4.875% to 8-16-22, then 3 month LIBOR + 2.986%) | 4.875 | 08-16-77 | 2,125,000 | 2,126,084 | |
Genesis Energy LP | 6.000 | 05-15-23 | 435,000 | 437,045 | |
Genesis Energy LP | 7.750 | 02-01-28 | 276,000 | 278,285 | |
Geopark, Ltd. (B)(E) | 6.500 | 09-21-24 | 245,000 | 258,230 | |
Hilcorp Energy I LP (B) | 5.750 | 10-01-25 | 832,000 | 752,269 | |
Holly Energy Partners LP (B) | 5.000 | 02-01-28 | 439,000 | 445,998 | |
KazMunayGas National Company JSC (B) | 4.750 | 04-24-25 | 407,000 | 449,125 | |
KazMunayGas National Company JSC | 5.375 | 04-24-30 | 514,000 | 611,111 | |
KazMunayGas National Company JSC (B) | 5.750 | 04-19-47 | 306,000 | 379,391 | |
KazMunayGas National Company JSC (B) | 6.375 | 10-24-48 | 545,000 | 727,435 | |
KazTransGas JSC (B) | 4.375 | 09-26-27 | 547,000 | 586,482 | |
Kinder Morgan Energy Partners LP | 5.500 | 03-01-44 | 975,000 | 1,165,663 |
20 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Energy (continued) | |||||
Oil, gas and consumable fuels (continued) | |||||
Kosmos Energy, Ltd. (B) | 7.125 | 04-04-26 | 58,000 | $58,653 | |
Marathon Petroleum Corp. | 3.800 | 04-01-28 | 1,025,000 | 1,096,092 | |
Marathon Petroleum Corp. | 5.125 | 12-15-26 | 1,000,000 | 1,151,978 | |
Murphy Oil Corp. | 5.750 | 08-15-25 | 375,000 | 386,018 | |
Murphy Oil Corp. | 5.875 | 12-01-27 | 411,000 | 421,275 | |
Murphy Oil USA, Inc. | 4.750 | 09-15-29 | 420,000 | 438,900 | |
NAK Naftogaz Ukraine (B) | 7.625 | 11-08-26 | 299,000 | 318,307 | |
Oasis Petroleum, Inc. (B)(E) | 6.250 | 05-01-26 | 150,000 | 114,375 | |
Oasis Petroleum, Inc. | 6.875 | 03-15-22 | 475,000 | 456,000 | |
Pertamina Persero PT (B) | 3.650 | 07-30-29 | 320,000 | 333,600 | |
Pertamina Persero PT | 5.250 | 05-23-21 | 242,000 | 251,081 | |
Pertamina Persero PT (B) | 5.625 | 05-20-43 | 513,000 | 601,984 | |
Pertamina Persero PT | 6.450 | 05-30-44 | 363,000 | 470,677 | |
Petroamazonas EP (B) | 4.625 | 02-16-20 | 91,667 | 91,593 | |
Petroamazonas EP (B) | 4.625 | 11-06-20 | 166,667 | 165,837 | |
Petrobras Global Finance BV | 6.900 | 03-19-49 | 456,000 | 556,480 | |
Petroleos de Venezuela SA (D) | 5.375 | 04-12-27 | 64,000 | 5,120 | |
Petroleos de Venezuela SA (D) | 6.000 | 05-16-24 | 3,771,996 | 301,760 | |
Petroleos de Venezuela SA (D) | 6.000 | 11-15-26 | 1,826,000 | 146,080 | |
Petroleos de Venezuela SA (D) | 9.750 | 05-17-35 | 3,459,000 | 276,720 | |
Petroleos del Peru SA | 4.750 | 06-19-32 | 640,000 | 716,800 | |
Petroleos del Peru SA (B) | 4.750 | 06-19-32 | 177,000 | 198,240 | |
Petroleos del Peru SA | 5.625 | 06-19-47 | 628,000 | 756,941 | |
Petroleos Mexicanos | 5.350 | 02-12-28 | 254,000 | 257,658 | |
Petroleos Mexicanos (B) | 5.950 | 01-28-31 | 194,000 | 195,310 | |
Petroleos Mexicanos (B) | 6.490 | 01-23-27 | 600,000 | 651,000 | |
Petroleos Mexicanos | 6.500 | 03-13-27 | 367,000 | 397,890 | |
Petroleos Mexicanos | 6.500 | 01-23-29 | 279,000 | 297,944 | |
Petroleos Mexicanos (B) | 6.840 | 01-23-30 | 339,000 | 367,307 | |
Petroleos Mexicanos | 7.190 | 09-12-24 | MXN | 4,586,400 | 223,617 |
Petroleos Mexicanos | 7.470 | 11-12-26 | MXN | 2,300,000 | 108,074 |
Petroleos Mexicanos | 7.470 | 11-12-26 | MXN | 11,000 | 517 |
Petroleos Mexicanos (B) | 7.690 | 01-23-50 | 1,162,000 | 1,278,769 | |
Petroleos Mexicanos | 9.500 | 09-15-27 | 97,000 | 116,255 | |
Petronas Capital, Ltd. (B) | 4.500 | 03-18-45 | 452,000 | 567,749 | |
QEP Resources, Inc. | 5.250 | 05-01-23 | 455,000 | 436,800 | |
Sabine Pass Liquefaction LLC | 5.000 | 03-15-27 | 1,975,000 | 2,203,805 | |
Saudi Arabian Oil Company | 2.875 | 04-16-24 | 484,000 | 497,292 | |
Saudi Arabian Oil Company (B) | 4.250 | 04-16-39 | 150,000 | 166,220 | |
Sinopec Group Overseas Development 2016, Ltd. | 2.750 | 09-29-26 | 223,000 | 227,511 | |
Sinopec Group Overseas Development 2017, Ltd. | 3.625 | 04-12-27 | 753,000 | 803,669 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 21 |
Rate (%) | Maturity date | Par value^ | Value | ||
Energy (continued) | |||||
Oil, gas and consumable fuels (continued) | |||||
SM Energy Company | 6.125 | 11-15-22 | 275,000 | $272,250 | |
Targa Resources Partners LP | 6.500 | 07-15-27 | 1,021,000 | 1,112,890 | |
The Oil and Gas Holding Company BSCC (B) | 7.625 | 11-07-24 | 324,000 | 379,120 | |
Tullow Oil PLC (B) | 7.000 | 03-01-25 | 245,000 | 198,149 | |
Unit Corp. | 6.625 | 05-15-21 | 515,000 | 225,570 | |
Western Midstream Operating LP | 5.300 | 03-01-48 | 975,000 | 865,395 | |
Western Midstream Operating LP | 5.450 | 04-01-44 | 1,375,000 | 1,251,738 | |
Whiting Petroleum Corp. | 6.625 | 01-15-26 | 825,000 | 461,959 | |
WPX Energy, Inc. | 4.500 | 01-15-30 | 430,000 | 432,675 | |
Financials 8.0% | 65,938,976 | ||||
Banks 5.5% | |||||
Banco Mercantil del Norte SA (6.750% to 9-27-24, then 5 Year CMT + 4.967%) (B)(F) | 6.750 | 09-27-24 | 187,000 | 203,400 | |
Banco Mercantil del Norte SA (7.500% to 6-27-29, then 10 Year CMT + 5.470%) (B)(F) | 7.500 | 06-27-29 | 124,000 | 140,431 | |
Banco Nacional de Comercio Exterior SNC (3.800% to 8-11-21, then 5 Year CMT + 3.000%) (B) | 3.800 | 08-11-26 | 233,000 | 235,915 | |
Banco Nacional de Comercio Exterior SNC (3.800% to 8-11-21, then 5 Year CMT + 3.000%) | 3.800 | 08-11-26 | 115,000 | 116,439 | |
Bank of America Corp. | 3.950 | 04-21-25 | 3,550,000 | 3,846,876 | |
Bank of America Corp. (4.078% to 4-23-39, then 3 month LIBOR + 1.320%) | 4.078 | 04-23-40 | 2,400,000 | 2,814,560 | |
Barclays PLC | 4.836 | 05-09-28 | 1,000,000 | 1,114,182 | |
Barclays PLC | 5.250 | 08-17-45 | 875,000 | 1,109,483 | |
Brazil Loan Trust 1 (B) | 5.477 | 07-24-23 | 140,814 | 147,151 | |
CIT Group, Inc. | 6.125 | 03-09-28 | 180,000 | 214,300 | |
Citigroup, Inc. | 4.400 | 06-10-25 | 4,025,000 | 4,438,916 | |
Citigroup, Inc. (2.876% to 7-24-22, then 3 month LIBOR + 0.950%) | 2.876 | 07-24-23 | 75,000 | 76,574 | |
Deutsche Bank AG | 3.700 | 05-30-24 | 2,325,000 | 2,407,525 | |
Fifth Third Bancorp | 3.650 | 01-25-24 | 2,150,000 | 2,287,974 | |
HSBC Holdings PLC (3.950% to 5-18-23, then 3 month LIBOR + 0.987%) | 3.950 | 05-18-24 | 2,000,000 | 2,117,998 | |
Intesa Sanpaolo SpA (B) | 4.000 | 09-23-29 | 3,150,000 | 3,334,959 | |
JPMorgan Chase & Co. | 3.625 | 12-01-27 | 2,100,000 | 2,261,691 | |
KeyBank NA | 3.900 | 04-13-29 | 2,150,000 | 2,379,016 | |
Mizuho Financial Group, Inc. (2.721% to 7-16-22, then 3 month LIBOR + 0.840%) | 2.721 | 07-16-23 | 2,125,000 | 2,162,899 |
22 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Financials (continued) | |||||
Banks (continued) | |||||
Santander Holdings USA, Inc. (B) | 3.244 | 10-05-26 | 2,175,000 | $2,229,238 | |
Societe Generale SA (B) | 2.625 | 10-16-24 | 5,550,000 | 5,633,726 | |
Standard Chartered PLC (2.819% to 1-30-25, then 3 month LIBOR + 1.209%) (B) | 2.819 | 01-30-26 | 2,150,000 | 2,177,061 | |
Sumitomo Mitsui Financial Group, Inc. | 3.202 | 09-17-29 | 1,375,000 | 1,444,313 | |
The Royal Bank of Scotland Group PLC | 6.100 | 06-10-23 | 1,975,000 | 2,193,451 | |
Ukreximbank | 9.625 | 04-27-22 | 151,250 | 160,567 | |
Capital markets 1.3% | |||||
1MDB Global Investments, Ltd. | 4.400 | 03-09-23 | 1,000,000 | 991,549 | |
Credit Suisse Group AG (4.207% to 6-12-23, then 3 month LIBOR + 1.240%) (B) | 4.207 | 06-12-24 | 2,000,000 | 2,135,483 | |
MDGH - GMTN BV (B) | 2.875 | 11-07-29 | 160,000 | 162,600 | |
MDGH - GMTN BV (B) | 4.500 | 11-07-28 | 601,000 | 688,265 | |
MSCI, Inc. (B) | 4.000 | 11-15-29 | 395,000 | 403,394 | |
MV24 Capital BV (B) | 6.748 | 06-01-34 | 268,208 | 289,209 | |
State Street Corp. (3.031% to 11-1-29, then SOFR + 1.490%) | 3.031 | 11-01-34 | 1,625,000 | 1,683,851 | |
The Goldman Sachs Group, Inc. (2.905% to 7-24-22, then 3 month LIBOR + 0.990%) | 2.905 | 07-24-23 | 2,100,000 | 2,147,216 | |
UBS Group AG (B) | 3.491 | 05-23-23 | 2,075,000 | 2,146,769 | |
Consumer finance 0.8% | |||||
Ally Financial, Inc. | 8.000 | 11-01-31 | 153,000 | 215,816 | |
Capital One Financial Corp. | 3.750 | 03-09-27 | 3,075,000 | 3,329,307 | |
Springleaf Finance Corp. | 7.125 | 03-15-26 | 475,000 | 544,991 | |
Synchrony Financial | 3.700 | 08-04-26 | 2,125,000 | 2,235,436 | |
Diversified financial services 0.3% | |||||
GE Capital International Funding Company Unlimited Company | 3.373 | 11-15-25 | 2,325,000 | 2,464,531 | |
Insurance 0.1% | |||||
Acrisure LLC (B) | 7.000 | 11-15-25 | 304,000 | 297,920 | |
Acrisure LLC (B) | 8.125 | 02-15-24 | 415,000 | 443,531 | |
Alliant Holdings Intermediate LLC (B) | 6.750 | 10-15-27 | 485,000 | 510,463 | |
Health care 2.3% | 18,496,828 | ||||
Biotechnology 0.4% | |||||
AbbVie, Inc. (B) | 2.950 | 11-21-26 | 3,150,000 | 3,253,851 | |
Health care equipment and supplies 0.1% | |||||
Hologic, Inc. (B) | 4.375 | 10-15-25 | 370,000 | 376,782 | |
Health care providers and services 1.3% | |||||
Centene Corp. (B) | 4.250 | 12-15-27 | 471,000 | 492,195 | |
CVS Health Corp. | 4.300 | 03-25-28 | 2,125,000 | 2,357,578 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 23 |
Rate (%) | Maturity date | Par value^ | Value | ||
Health care (continued) | |||||
Health care providers and services (continued) | |||||
CVS Health Corp. | 4.780 | 03-25-38 | 125,000 | $146,038 | |
Encompass Health Corp. | 4.500 | 02-01-28 | 180,000 | 185,407 | |
HCA, Inc. | 5.250 | 06-15-49 | 1,925,000 | 2,233,990 | |
HCA, Inc. | 5.375 | 09-01-26 | 595,000 | 669,405 | |
HCA, Inc. | 5.625 | 09-01-28 | 700,000 | 809,410 | |
Tenet Healthcare Corp. | 4.625 | 07-15-24 | 675,000 | 691,875 | |
Tenet Healthcare Corp. (B) | 4.875 | 01-01-26 | 225,000 | 234,000 | |
Tenet Healthcare Corp. (B) | 6.250 | 02-01-27 | 515,000 | 544,664 | |
UnitedHealth Group, Inc. | 3.875 | 08-15-59 | 2,075,000 | 2,305,504 | |
Life sciences tools and services 0.1% | |||||
Charles River Laboratories International, Inc. (B) | 4.250 | 05-01-28 | 90,000 | 91,312 | |
Charles River Laboratories International, Inc. (B) | 5.500 | 04-01-26 | 720,000 | 765,900 | |
Pharmaceuticals 0.4% | |||||
Bausch Health Companies, Inc. (B) | 6.125 | 04-15-25 | 975,000 | 1,002,905 | |
Bausch Health Companies, Inc. (B) | 7.000 | 01-15-28 | 615,000 | 666,131 | |
Catalent Pharma Solutions, Inc. (B) | 5.000 | 07-15-27 | 465,000 | 489,482 | |
Endo DAC (B) | 6.000 | 02-01-25 | 505,000 | 349,713 | |
IQVIA, Inc. (B) | 5.000 | 05-15-27 | 580,000 | 611,923 | |
Par Pharmaceutical, Inc. (B) | 7.500 | 04-01-27 | 215,000 | 218,763 | |
Industrials 2.4% | 19,860,092 | ||||
Aerospace and defense 0.3% | |||||
Bombardier, Inc. (B) | 6.000 | 10-15-22 | 833,000 | 816,340 | |
Moog, Inc. (B) | 4.250 | 12-15-27 | 124,000 | 127,119 | |
Signature Aviation US Holdings, Inc. (B) | 4.000 | 03-01-28 | 274,000 | 271,005 | |
TransDigm, Inc. (B) | 6.250 | 03-15-26 | 875,000 | 943,688 | |
Air freight and logistics 0.5% | |||||
FedEx Corp. | 4.400 | 01-15-47 | 2,300,000 | 2,422,256 | |
Gol Finance SA (B)(E) | 7.000 | 01-31-25 | 310,000 | 314,805 | |
Park-Ohio Industries, Inc. | 6.625 | 04-15-27 | 535,000 | 543,095 | |
XPO Logistics, Inc. (B) | 6.125 | 09-01-23 | 200,000 | 206,750 | |
XPO Logistics, Inc. (B) | 6.750 | 08-15-24 | 225,000 | 243,844 | |
Building products 0.2% | |||||
Advanced Drainage Systems, Inc. (B) | 5.000 | 09-30-27 | 550,000 | 567,875 | |
American Woodmark Corp. (B) | 4.875 | 03-15-26 | 640,000 | 658,400 | |
Griffon Corp. | 5.250 | 03-01-22 | 690,000 | 689,227 | |
Commercial services and supplies 0.3% | |||||
ACCO Brands Corp. (B) | 5.250 | 12-15-24 | 605,000 | 626,175 | |
Covanta Holding Corp. | 5.875 | 07-01-25 | 655,000 | 679,358 | |
GFL Environmental, Inc. (B) | 5.125 | 12-15-26 | 148,000 | 152,418 | |
GFL Environmental, Inc. (B) | 8.500 | 05-01-27 | 540,000 | 588,600 |
24 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Industrials (continued) | |||||
Commercial services and supplies (continued) | |||||
Waste Pro USA, Inc. (B) | 5.500 | 02-15-26 | 425,000 | $436,626 | |
Construction and engineering 0.0% | |||||
IHS Netherlands Holdco BV (B) | 8.000 | 09-18-27 | 92,000 | 99,360 | |
Machinery 0.1% | |||||
Mueller Water Products, Inc. (B) | 5.500 | 06-15-26 | 475,000 | 497,563 | |
SPX FLOW, Inc. (B) | 5.625 | 08-15-24 | 700,000 | 728,000 | |
Road and rail 0.3% | |||||
Ryder System, Inc. | 3.650 | 03-18-24 | 2,000,000 | 2,128,776 | |
Trading companies and distributors 0.6% | |||||
Air Lease Corp. | 3.625 | 12-01-27 | 2,150,000 | 2,264,749 | |
Beacon Roofing Supply, Inc. (B) | 4.500 | 11-15-26 | 285,000 | 292,838 | |
GATX Corp. | 4.550 | 11-07-28 | 1,775,000 | 2,005,637 | |
United Rentals North America, Inc. | 6.500 | 12-15-26 | 625,000 | 678,906 | |
Transportation infrastructure 0.1% | |||||
Aeropuerto Internacional de Tocumen SA | 5.625 | 05-18-36 | 411,000 | 494,232 | |
Aeropuerto Internacional de Tocumen SA (B) | 6.000 | 11-18-48 | 262,000 | 330,940 | |
Rumo Luxembourg Sarl (B) | 7.375 | 02-09-24 | 48,000 | 51,510 | |
Information technology 1.8% | 14,759,980 | ||||
Communications equipment 0.2% | |||||
Hughes Satellite Systems Corp. | 6.625 | 08-01-26 | 600,000 | 661,500 | |
ViaSat, Inc. (B) | 5.625 | 04-15-27 | 545,000 | 570,833 | |
IT services 0.6% | |||||
Broadridge Financial Solutions, Inc. | 2.900 | 12-01-29 | 1,700,000 | 1,743,877 | |
Fiserv, Inc. | 3.200 | 07-01-26 | 2,125,000 | 2,244,021 | |
The Western Union Company | 2.850 | 01-10-25 | 1,300,000 | 1,331,315 | |
Semiconductors and semiconductor equipment 0.7% | |||||
Broadcom, Inc. (B) | 4.250 | 04-15-26 | 2,075,000 | 2,243,870 | |
Entegris, Inc. (B) | 4.625 | 02-10-26 | 560,000 | 578,200 | |
Qorvo, Inc. | 5.500 | 07-15-26 | 520,000 | 549,900 | |
Xilinx, Inc. | 2.950 | 06-01-24 | 2,100,000 | 2,181,406 | |
Software 0.2% | |||||
Fair Isaac Corp. (B) | 4.000 | 06-15-28 | 533,000 | 542,328 | |
Nuance Communications, Inc. | 5.625 | 12-15-26 | 600,000 | 638,250 | |
SS&C Technologies, Inc. (B) | 5.500 | 09-30-27 | 560,000 | 592,368 | |
Technology hardware, storage and peripherals 0.1% | |||||
Seagate HDD Cayman | 4.875 | 06-01-27 | 816,000 | 882,112 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 25 |
Rate (%) | Maturity date | Par value^ | Value | ||
Materials 3.4% | $28,328,167 | ||||
Chemicals 1.1% | |||||
Axalta Coating Systems LLC (B) | 4.875 | 08-15-24 | 450,000 | 463,500 | |
CF Industries, Inc. | 5.150 | 03-15-34 | 595,000 | 687,225 | |
CNAC HK Finbridge Company, Ltd. | 5.125 | 03-14-28 | 863,000 | 989,634 | |
Element Solutions, Inc. (B) | 5.875 | 12-01-25 | 675,000 | 697,694 | |
ENN Clean Energy International Investment, Ltd. | 7.500 | 02-27-21 | 200,000 | 205,893 | |
GCP Applied Technologies, Inc. (B) | 5.500 | 04-15-26 | 450,000 | 468,000 | |
Huntsman International LLC | 4.500 | 05-01-29 | 2,075,000 | 2,262,431 | |
Nutrien, Ltd. | 5.000 | 04-01-49 | 1,850,000 | 2,294,673 | |
OCI NV (B) | 6.625 | 04-15-23 | 810,000 | 840,814 | |
The Chemours Company (E) | 7.000 | 05-15-25 | 392,000 | 375,144 | |
Construction materials 0.4% | |||||
American Builders & Contractors Supply Company, Inc. (B) | 4.000 | 01-15-28 | 280,000 | 282,307 | |
U.S. Concrete, Inc. | 6.375 | 06-01-24 | 555,000 | 574,425 | |
Vulcan Materials Company | 4.500 | 06-15-47 | 1,975,000 | 2,287,737 | |
Containers and packaging 0.3% | |||||
Ardagh Packaging Finance PLC (B) | 4.125 | 08-15-26 | 170,000 | 174,888 | |
Berry Global, Inc. | 5.125 | 07-15-23 | 170,000 | 172,978 | |
Crown Americas LLC | 4.750 | 02-01-26 | 500,000 | 519,375 | |
WRKCo, Inc. | 3.900 | 06-01-28 | 1,600,000 | 1,737,797 | |
Metals and mining 1.3% | |||||
Anglo American Capital PLC (B) | 4.000 | 09-11-27 | 2,025,000 | 2,167,056 | |
ArcelorMittal SA | 4.550 | 03-11-26 | 2,150,000 | 2,318,285 | |
Corp. Nacional del Cobre de Chile (B) | 3.000 | 09-30-29 | 55,000 | 55,744 | |
Corp. Nacional del Cobre de Chile (B) | 3.625 | 08-01-27 | 114,000 | 121,313 | |
Corp. Nacional del Cobre de Chile (B) | 4.375 | 02-05-49 | 1,143,000 | 1,281,080 | |
Corp. Nacional del Cobre de Chile (B) | 4.500 | 09-16-25 | 709,000 | 783,289 | |
Corp. Nacional del Cobre de Chile | 5.625 | 10-18-43 | 136,000 | 177,611 | |
First Quantum Minerals, Ltd. (B) | 6.875 | 03-01-26 | 120,000 | 115,200 | |
First Quantum Minerals, Ltd. (B) | 7.500 | 04-01-25 | 120,000 | 118,200 | |
FMG Resources August 2006 Pty, Ltd. (B) | 4.500 | 09-15-27 | 455,000 | 461,256 | |
Freeport-McMoRan, Inc. | 4.550 | 11-14-24 | 460,000 | 485,300 | |
Freeport-McMoRan, Inc. | 5.000 | 09-01-27 | 450,000 | 466,313 | |
Indonesia Asahan Aluminium Persero PT (B) | 5.710 | 11-15-23 | 195,000 | 215,272 | |
Kaiser Aluminum Corp. (B) | 4.625 | 03-01-28 | 475,000 | 484,500 | |
Metinvest BV (B) | 7.750 | 10-17-29 | 252,000 | 265,265 | |
Metinvest BV | 8.500 | 04-23-26 | 200,000 | 218,739 | |
Newmont Corp. | 6.250 | 10-01-39 | 975,000 | 1,360,678 | |
Paper and forest products 0.3% | |||||
Boise Cascade Company (B) | 5.625 | 09-01-24 | 645,000 | 669,188 |
26 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Materials (continued) | |||||
Paper and forest products (continued) | |||||
Flex Acquisition Company, Inc. (B) | 6.875 | 01-15-25 | 340,000 | $341,275 | |
Louisiana-Pacific Corp. | 4.875 | 09-15-24 | 580,000 | 598,125 | |
Norbord, Inc. (B) | 6.250 | 04-15-23 | 545,000 | 589,963 | |
Real estate 1.9% | 15,781,822 | ||||
Equity real estate investment trusts 1.9% | |||||
American Homes 4 Rent LP | 4.250 | 02-15-28 | 2,000,000 | 2,190,271 | |
Boston Properties LP | 2.900 | 03-15-30 | 1,100,000 | 1,134,987 | |
Crown Castle International Corp. | 3.800 | 02-15-28 | 2,000,000 | 2,178,288 | |
Equinix, Inc. | 2.625 | 11-18-24 | 2,150,000 | 2,172,984 | |
MGM Growth Properties Operating Partnership LP | 5.750 | 02-01-27 | 430,000 | 478,375 | |
Office Properties Income Trust | 4.250 | 05-15-24 | 2,050,000 | 2,160,658 | |
SBA Communications Corp. (B) | 3.875 | 02-15-27 | 288,000 | 291,960 | |
SITE Centers Corp. | 4.250 | 02-01-26 | 2,125,000 | 2,298,483 | |
VICI Properties LP (B) | 4.125 | 08-15-30 | 445,000 | 451,675 | |
WEA Finance LLC (B) | 2.875 | 01-15-27 | 2,125,000 | 2,175,806 | |
Real estate management and development 0.0% | |||||
Wanda Properties International Company, Ltd. | 7.250 | 01-29-24 | 247,000 | 248,335 | |
Utilities 3.4% | 27,739,406 | ||||
Electric utilities 1.8% | |||||
Electricite de France SA (B) | 4.500 | 09-21-28 | 1,950,000 | 2,227,612 | |
Enel Finance International NV (B) | 4.625 | 09-14-25 | 2,975,000 | 3,308,515 | |
Entergy Texas, Inc. | 3.550 | 09-30-49 | 1,375,000 | 1,507,106 | |
Eskom Holdings SOC, Ltd. (B) | 6.750 | 08-06-23 | 470,000 | 475,570 | |
Eskom Holdings SOC, Ltd. (B) | 7.125 | 02-11-25 | 178,000 | 180,451 | |
Eskom Holdings SOC, Ltd. (B) | 8.450 | 08-10-28 | 270,000 | 290,304 | |
FirstEnergy Corp. | 4.850 | 07-15-47 | 1,800,000 | 2,223,211 | |
Georgia Power Company | 4.300 | 03-15-42 | 1,100,000 | 1,272,975 | |
Vistra Operations Company LLC (B) | 5.000 | 07-31-27 | 220,000 | 225,786 | |
Vistra Operations Company LLC (B) | 5.625 | 02-15-27 | 645,000 | 670,800 | |
Xcel Energy, Inc. | 3.500 | 12-01-49 | 2,000,000 | 2,117,749 | |
Gas utilities 0.6% | |||||
Dominion Energy Gas Holdings LLC | 3.000 | 11-15-29 | 1,425,000 | 1,464,199 | |
Dominion Energy, Inc. | 2.715 | 08-15-21 | 2,150,000 | 2,172,740 | |
Southern Gas Corridor CJSC (B) | 6.875 | 03-24-26 | 167,000 | 199,998 | |
Southern Gas Corridor CJSC | 6.875 | 03-24-26 | 860,000 | 1,029,896 | |
Independent power and renewable electricity producers 0.5% | |||||
Calpine Corp. (B) | 4.500 | 02-15-28 | 525,000 | 522,375 | |
Exelon Generation Company LLC | 5.600 | 06-15-42 | 2,050,000 | 2,419,216 | |
Minejesa Capital BV (B) | 5.625 | 08-10-37 | 33,000 | 35,892 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 27 |
Rate (%) | Maturity date | Par value^ | Value | ||
Utilities (continued) | |||||
Independent power and renewable electricity producers (continued) | |||||
Mong Duong Finance Holdings BV (B) | 5.125 | 05-07-29 | 214,000 | $220,834 | |
NRG Energy, Inc. | 5.750 | 01-15-28 | 645,000 | 694,214 | |
Multi-utilities 0.5% | |||||
ACWA Power Management and Investments One, Ltd. (B) | 5.950 | 12-15-39 | 773,000 | 840,207 | |
CenterPoint Energy, Inc. | 4.250 | 11-01-28 | 1,950,000 | 2,193,113 | |
Cometa Energia SA de CV (B) | 6.375 | 04-24-35 | 199,614 | 228,598 | |
Sempra Energy | 4.000 | 02-01-48 | 1,100,000 | 1,218,045 | |
Term loans (G) 18.4% | $151,374,737 | ||||
(Cost $154,127,812) | |||||
Communication services 2.6% | 21,632,442 | ||||
Diversified telecommunication services 1.2% | |||||
Altice France SA, USD Term Loan B11 (1 month LIBOR + 2.750%) | 4.395 | 07-31-25 | 1,502,095 | 1,486,143 | |
Consolidated Communications, Inc., 2016 Term Loan B (1 month LIBOR + 3.000%) | 4.650 | 10-04-23 | 1,760,653 | 1,697,111 | |
Conterra Ultra Broadband Holdings, Inc., 1st Lien Term Loan (1 month LIBOR + 4.500%) | 6.150 | 04-30-26 | 895,500 | 894,381 | |
Frontier Communications Corp., 2017 Term Loan B1 (1 month LIBOR + 3.750%) | 5.400 | 06-15-24 | 1,579,921 | 1,593,081 | |
Intelsat Jackson Holdings SA, 2017 Term Loan B3 (6 month LIBOR + 3.750%) | 5.682 | 11-27-23 | 835,000 | 831,351 | |
Iridium Satellite LLC, Term Loan B (1 month LIBOR + 3.750%) | 5.395 | 11-04-26 | 1,180,000 | 1,186,879 | |
Level 3 Financing, Inc., 2019 Term Loan B (1 month LIBOR + 1.750%) | 3.395 | 03-01-27 | 650,368 | 648,905 | |
Telesat LLC, Term Loan B5 (3 month LIBOR + 2.750%) | 4.630 | 12-07-26 | 1,455,000 | 1,460,093 | |
Entertainment 0.1% | |||||
UFC Holdings LLC, 2019 Term Loan (1 month LIBOR + 3.250%) | 4.900 | 04-29-26 | 1,112,201 | 1,114,803 | |
Interactive media and services 0.2% | |||||
MH Sub I LLC, 2017 1st Lien Term Loan (1 month LIBOR + 3.750%) | 5.395 | 09-13-24 | 1,337,440 | 1,335,768 | |
Media 0.7% | |||||
Charter Communications Operating LLC, 2019 Term Loan B1 (1 month LIBOR + 1.750%) | 3.400 | 04-30-25 | 1,106,856 | 1,111,870 | |
Cogeco Communications USA II LP, 2017 1st Lien Term Loan (1 month LIBOR + 2.250%) | 3.895 | 01-03-25 | 1,024,599 | 1,024,947 |
28 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Communication services (continued) | |||||
Media (continued) | |||||
CSC Holdings LLC, 2017 1st Lien Term Loan (1 month LIBOR + 2.250%) | 3.926 | 07-17-25 | 1,507,627 | $1,508,698 | |
Cumulus Media New Holdings, Inc., Term Loan B (1 month LIBOR + 3.750%) | 5.395 | 03-31-26 | 314,213 | 316,164 | |
Hubbard Radio LLC, 2015 Term Loan B (1 month LIBOR + 3.500%) | 5.150 | 03-28-25 | 714,095 | 713,502 | |
Terrier Media Buyer, Inc., Term Loan B (3 month LIBOR + 4.250%) | 6.148 | 12-17-26 | 1,120,000 | 1,128,120 | |
Wireless telecommunication services 0.4% | |||||
SBA Senior Finance II LLC, 2018 Term Loan B (1 month LIBOR + 1.750%) | 3.400 | 04-11-25 | 1,427,656 | 1,428,555 | |
Sprint Communications, Inc., 1st Lien Term Loan B (1 month LIBOR + 2.500%) | 4.188 | 02-02-24 | 1,411,222 | 1,379,469 | |
Syniverse Holdings, Inc., 2018 1st Lien Term Loan (6 month LIBOR + 5.000%) | 6.873 | 03-09-23 | 846,687 | 772,602 | |
Consumer discretionary 2.5% | 20,814,475 | ||||
Auto components 0.1% | |||||
Panther BF Aggregator 2 LP, USD Term Loan B (1 month LIBOR + 3.500%) | 5.160 | 04-30-26 | 798,000 | 802,589 | |
Diversified consumer services 0.5% | |||||
PCI Gaming Authority, Term Loan (1 month LIBOR + 2.500%) | 4.145 | 05-29-26 | 610,397 | 612,918 | |
Prime Security Services Borrower LLC, 2019 Term Loan B1 (1 month LIBOR + 3.250%) | 5.013 | 09-23-26 | 1,090,810 | 1,090,810 | |
Whatabrands LLC, Term Loan B (1 month LIBOR + 3.250%) | 4.984 | 08-02-26 | 738,150 | 739,493 | |
WW International, Inc., 2017 Term Loan B (3 month LIBOR + 4.750%) | 6.720 | 11-29-24 | 1,464,075 | 1,463,167 | |
Hotels, restaurants and leisure 0.9% | |||||
Alterra Mountain Company, Term Loan B1 (1 month LIBOR + 2.750%) | 4.395 | 07-31-24 | 1,492,162 | 1,497,131 | |
Aramark Services, Inc., 2019 Term Loan B4 (3 month LIBOR + 1.750%) | 3.470 | 01-15-27 | 500,000 | 500,625 | |
Boyd Gaming Corp., Term Loan B3 (1 week LIBOR + 2.250%) | 3.811 | 09-15-23 | 949,193 | 951,272 | |
Caesars Resort Collection LLC, 2017 1st Lien Term Loan B (1 month LIBOR + 2.750%) | 4.395 | 12-23-24 | 1,407,793 | 1,406,343 | |
Golden Nugget LLC, 2017 Incremental Term Loan B (1 month LIBOR + 2.750%) | 4.401 | 10-04-23 | 1,523,285 | 1,525,341 | |
Motion Finco LLC, USD Term Loan B1 (3 month LIBOR + 3.250%) | 5.151 | 11-13-26 | 816,667 | 824,017 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 29 |
Rate (%) | Maturity date | Par value^ | Value | ||
Consumer discretionary (continued) | |||||
Hotels, restaurants and leisure (continued) | |||||
New Red Finance, Term Loan B4 (1 month LIBOR + 1.750%) | 3.395 | 11-19-26 | 864,545 | $863,033 | |
Leisure products 0.3% | |||||
Diamond Sports Group LLC, Term Loan (1 month LIBOR + 3.250%) | 4.910 | 08-24-26 | 951,615 | 950,130 | |
Hayward Industries, Inc., 1st Lien Term Loan (1 month LIBOR + 3.500%) | 5.145 | 08-05-24 | 1,578,612 | 1,560,189 | |
Multiline retail 0.1% | |||||
JC Penney Corp., Inc., 2016 Term Loan B (3 month LIBOR + 4.250%) | 6.159 | 06-23-23 | 1,105,500 | 981,131 | |
Specialty retail 0.6% | |||||
Bass Pro Group LLC, Term Loan B (1 month LIBOR + 5.000%) | 6.645 | 09-25-24 | 1,483,853 | 1,477,057 | |
Nascar Holdings LLC, Term Loan B (1 month LIBOR + 2.750%) | 4.408 | 10-19-26 | 938,899 | 944,767 | |
Party City Holdings, Inc., 2018 Term Loan B (1 month LIBOR + 2.500%) | 4.150 | 08-19-22 | 686,732 | 641,669 | |
Petco Animal Supplies, Inc., 2017 Term Loan B (3 month LIBOR + 3.250%) | 5.027 | 01-26-23 | 1,115,732 | 941,198 | |
PetSmart, Inc., Consenting Term Loan (1 month LIBOR + 4.000%) | 5.670 | 03-11-22 | 1,044,855 | 1,041,595 | |
Consumer staples 2.3% | 18,994,819 | ||||
Beverages 0.2% | |||||
Refresco Group BV, USD Term Loan B (H) | TBD | 01-29-25 | 140,000 | 139,825 | |
Refresco Holding BV, USD Term Loan B3 (3 month LIBOR + 3.250%) | 5.160 | 03-28-25 | 1,530,950 | 1,529,036 | |
Food and staples retailing 0.1% | |||||
Albertson's LLC, 2019 Term Loan B7 (1 month LIBOR + 2.750%) | 4.395 | 11-17-25 | 751,954 | 751,954 | |
Food products 1.2% | |||||
Atkins Nutritionals Holdings, Inc., 2017 Term Loan B (1 month LIBOR + 3.750%) | 5.434 | 07-07-24 | 600,927 | 606,936 | |
Chobani LLC, 2017 Term Loan B (1 month LIBOR + 3.500%) | 5.145 | 10-10-23 | 1,091,386 | 1,090,022 | |
Dole Food Company, Inc., 2017 Term Loan B (1 month LIBOR + 2.750%) | 4.404 | 04-06-24 | 1,399,396 | 1,396,430 | |
Froneri US, Inc., 2020 USD Term Loan (H) | TBD | 01-31-27 | 1,495,000 | 1,498,738 | |
Hostess Brands LLC, 2019 Term Loan (1, 2, and 3 month LIBOR + 2.500%) | 3.986 | 08-03-25 | 1,959,606 | 1,960,214 | |
JBS USA LUX SA, 2019 Term Loan B (1 month LIBOR + 2.000%) | 3.645 | 05-01-26 | 858,513 | 862,118 |
30 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Consumer staples (continued) | |||||
Food products (continued) | |||||
Nomad Foods Lux Sarl, 2017 USD Term Loan B4 (3 month LIBOR + 2.250%) | 3.926 | 05-15-24 | 1,719,423 | $1,719,423 | |
Upfield USA Corp., 2018 USD Term Loan B2 (3 month LIBOR + 3.000%) | 4.909 | 07-02-25 | 651,085 | 647,556 | |
Household products 0.1% | |||||
Diamond BC BV, USD Term Loan (1 and 3 month LIBOR + 3.000%) | 4.777 | 09-06-24 | 648,346 | 628,896 | |
Energizer Holdings, Inc., 2018 Term Loan B (1 month LIBOR + 2.250%) | 4.063 | 12-17-25 | 477,000 | 477,797 | |
Personal products 0.7% | |||||
Edgewell Personal Care Company, Term Loan B (H) | TBD | 09-18-26 | 930,000 | 930,000 | |
Prestige Brands, Inc., Term Loan B4 (1 month LIBOR + 2.000%) | 3.645 | 01-26-24 | 1,042,683 | 1,048,387 | |
Revlon Consumer Products Corp., 2016 Term Loan B (3 month LIBOR + 3.500%) | 5.409 | 09-07-23 | 3,401,327 | 2,658,715 | |
Sunshine Luxembourg VII Sarl, USD Term Loan B1 (3 month LIBOR + 4.250%) | 6.195 | 10-01-26 | 1,045,000 | 1,048,772 | |
Energy 0.7% | 5,926,794 | ||||
Energy equipment and services 0.2% | |||||
Apergy Corp., 2018 1st Lien Term Loan (1 month LIBOR + 2.500%) | 4.188 | 05-09-25 | 807,053 | 808,570 | |
Covia Holdings Corp., Term Loan (3 month LIBOR + 4.000%) | 5.874 | 06-01-25 | 1,426,282 | 1,138,886 | |
Oil, gas and consumable fuels 0.5% | |||||
Buckeye Partners LP, 2019 Term Loan B (1 month LIBOR + 2.750%) | 4.531 | 11-01-26 | 1,230,000 | 1,239,742 | |
Granite Acquisition, Inc., Term Loan B (3 month LIBOR + 3.500%) | 5.445 | 12-19-21 | 2,004,293 | 2,008,462 | |
Prairie ECI Acquiror LP, Term Loan B (3 month LIBOR + 4.750%) | 6.695 | 03-11-26 | 739,767 | 731,134 | |
Financials 1.1% | 9,203,276 | ||||
Capital markets 0.2% | |||||
Blackstone CQP Holdco LP, Term Loan B (3 month LIBOR + 3.500%) | 5.408 | 09-30-24 | 776,100 | 775,456 | |
Sequa Mezzanine Holdings LLC, 1st Lien Term Loan (3 month LIBOR + 5.000%) | 6.904 | 11-28-21 | 971,644 | 973,830 | |
Diversified financial services 0.5% | |||||
AlixPartners LLP, 2017 Term Loan B (1 month LIBOR + 2.500%) | 4.145 | 04-04-24 | 1,260,975 | 1,260,193 | |
Crown Finance US, Inc., 2018 USD Term Loan (1 month LIBOR + 2.250%) | 3.895 | 02-28-25 | 954,075 | 944,534 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 31 |
Rate (%) | Maturity date | Par value^ | Value | ||
Financials (continued) | |||||
Diversified financial services (continued) | |||||
Deerfield Dakota Holding LLC, 2018 Term Loan B (1 month LIBOR + 3.250%) | 4.895 | 02-13-25 | 598,385 | $599,133 | |
Refinitiv US Holdings, Inc., 2018 USD Term Loan (1 month LIBOR + 3.250%) | 4.895 | 10-01-25 | 1,504,800 | 1,518,780 | |
Insurance 0.4% | |||||
Alliant Holdings Intermediate LLC, Term Loan B (1 month LIBOR + 3.250%) | 4.920 | 05-09-25 | 876,149 | 875,492 | |
Asurion LLC, 2017 Term Loan B4 (1 month LIBOR + 3.000%) | 4.645 | 08-04-22 | 917,715 | 919,092 | |
HUB International, Ltd., 2019 Incremental Term Loan B (3 month LIBOR + 4.000%) | 5.903 | 04-25-25 | 520,000 | 523,578 | |
USI, Inc., 2017 Repriced Term Loan (3 month LIBOR + 3.000%) | 4.945 | 05-16-24 | 816,659 | 813,188 | |
Health care 2.2% | 18,000,672 | ||||
Biotechnology 0.1% | |||||
Aldevron LLC, 2019 Term Loan B (3 month LIBOR + 4.250%) | 6.195 | 10-12-26 | 230,000 | 232,013 | |
Grifols Worldwide Operations USA, Inc., USD 2019 Term Loan B (1 week LIBOR + 2.000%) | 3.561 | 11-15-27 | 816,327 | 820,155 | |
Health care equipment and supplies 0.1% | |||||
Air Medical Group Holdings, Inc., 2018 Term Loan B1 (1 month LIBOR + 3.250%) | 4.910 | 04-28-22 | 1,105,004 | 1,078,417 | |
Health care providers and services 1.0% | |||||
Air Methods Corp., 2017 Term Loan B (3 month LIBOR + 3.500%) | 5.445 | 04-22-24 | 2,038,516 | 1,748,028 | |
Envision Healthcare Corp., 2018 1st Lien Term Loan (1 month LIBOR + 3.750%) | 5.395 | 10-10-25 | 2,507,298 | 2,102,821 | |
RegionalCare Hospital Partners Holdings, Inc., 2018 Term Loan B (1 month LIBOR + 3.750%) | 5.395 | 11-17-25 | 1,777,087 | 1,783,555 | |
Surgery Center Holdings, Inc., 2017 Term Loan B (1 month LIBOR + 3.250%) | 4.900 | 09-02-24 | 1,205,258 | 1,200,485 | |
Team Health Holdings, Inc., 1st Lien Term Loan (1 month LIBOR + 2.750%) | 4.395 | 02-06-24 | 1,877,790 | 1,497,537 | |
Health care technology 0.2% | |||||
Change Healthcare Holdings LLC, 2017 Term Loan B (1 month LIBOR + 2.500%) | 4.145 | 03-01-24 | 1,130,589 | 1,130,408 |
32 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Health care (continued) | |||||
Life sciences tools and services 0.2% | |||||
Jaguar Holding Company II, 2018 Term Loan (1 month LIBOR + 2.500%) | 4.145 | 08-18-22 | 1,448,051 | $1,446,647 | |
Pharmaceuticals 0.6% | |||||
Bausch Health Americas, Inc., 2018 Term Loan B (1 month LIBOR + 3.000%) | 4.670 | 06-02-25 | 1,471,241 | 1,476,390 | |
Catalent Pharma Solutions, Inc., Term Loan B2 (1 month LIBOR + 2.250%) | 3.895 | 05-18-26 | 664,975 | 667,469 | |
Endo International PLC, 2017 Term Loan B (1 month LIBOR + 4.250%) | 5.938 | 04-29-24 | 1,241,492 | 1,194,936 | |
IQVIA, Inc., 2017 USD Term Loan B2 (3 month LIBOR + 1.750%) | 3.695 | 01-17-25 | 1,615,752 | 1,621,811 | |
Industrials 3.2% | 25,965,468 | ||||
Aerospace and defense 0.1% | |||||
AI Convoy Luxembourg Sarl, USD Term Loan B (H) | TBD | 01-20-27 | 550,000 | 547,250 | |
Air freight and logistics 0.1% | |||||
XPO Logistics, Inc., 2018 Term Loan B (1 month LIBOR + 2.000%) | 3.645 | 02-24-25 | 720,000 | 721,505 | |
Building products 0.4% | |||||
APi Group DE, Inc., Term Loan B (1 month LIBOR + 2.500%) | 4.145 | 10-01-26 | 930,000 | 933,488 | |
Cornerstone Building Brands, Inc., 2018 Term Loan (1 month LIBOR + 3.750%) | 5.434 | 04-12-25 | 1,043,076 | 1,038,518 | |
HNC Holdings, Inc., Term Loan B (1 month LIBOR + 4.000%) | 5.645 | 10-05-23 | 836,413 | 838,504 | |
Commercial services and supplies 0.7% | |||||
Advanced Disposal Services, Inc., Term Loan B3 (1 week LIBOR + 2.250%) | 3.816 | 11-10-23 | 1,241,910 | 1,241,774 | |
Clean Harbors, Inc., 2017 Term Loan B (1 month LIBOR + 1.750%) | 3.395 | 06-28-24 | 1,189,973 | 1,197,708 | |
GFL Environmental, Inc., 2018 USD Term Loan B (1 month LIBOR + 3.000%) | 4.645 | 05-30-25 | 1,280,855 | 1,276,692 | |
Intrado Corp., 2017 Term Loan (1 month LIBOR + 4.000%) | 5.645 | 10-10-24 | 1,564,128 | 1,328,539 | |
MHI Holdings LLC, Term Loan B (1 month LIBOR + 5.000%) | 6.645 | 09-21-26 | 500,000 | 501,250 | |
TMS International Holding Corp., 2018 Term Loan B2 (1 and 3 month LIBOR + 2.750%) | 4.475 | 08-14-24 | 371,176 | 367,464 | |
Machinery 1.3% | |||||
Blount International, Inc., 2018 Term Loan B (1 month LIBOR + 3.750%) | 5.395 | 04-12-23 | 837,258 | 842,223 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 33 |
Rate (%) | Maturity date | Par value^ | Value | ||
Industrials (continued) | |||||
Machinery (continued) | |||||
Douglas Dynamics LLC, 2017 Incremental Term Loan (1 month LIBOR + 3.000%) | 4.650 | 12-31-21 | 1,082,297 | $1,081,626 | |
Filtration Group Corp., 2018 1st Lien Term Loan (1 month LIBOR + 3.000%) | 4.645 | 03-29-25 | 2,274,552 | 2,282,718 | |
Gardner Denver, Inc., 2017 USD Term Loan B (1 month LIBOR + 2.750%) | 4.395 | 07-30-24 | 810,178 | 811,296 | |
Gates Global LLC, 2017 USD Repriced Term Loan B (1 month LIBOR + 2.750%) | 4.395 | 04-01-24 | 2,578,805 | 2,572,615 | |
Navistar, Inc., 2017 1st Lien Term Loan B (1 month LIBOR + 3.500%) | 5.170 | 11-06-24 | 1,744,666 | 1,745,975 | |
Titan Acquisition, Ltd., 2018 Term Loan B (1 month LIBOR + 3.000%) | 4.645 | 03-28-25 | 733,122 | 717,235 | |
Welbilt, Inc., 2018 Term Loan B (1 month LIBOR + 2.500%) | 4.145 | 10-23-25 | 786,162 | 783,709 | |
Professional services 0.4% | |||||
Creative Artists Agency LLC, 2019 Term Loan B (1 month LIBOR + 3.750%) | 5.395 | 11-27-26 | 1,410,000 | 1,416,458 | |
Trans Union LLC, 2019 Term Loan B5 (1 month LIBOR + 1.750%) | 3.395 | 11-16-26 | 1,526,109 | 1,530,749 | |
Road and rail 0.1% | |||||
Genesee & Wyoming, Inc., Term Loan (3 month LIBOR + 2.000%) | 3.906 | 12-30-26 | 1,125,000 | 1,130,153 | |
Trading companies and distributors 0.1% | |||||
Beacon Roofing Supply, Inc., 2017 Term Loan B (1 month LIBOR + 2.250%) | 3.895 | 01-02-25 | 1,058,019 | 1,058,019 | |
Information technology 2.1% | 17,131,048 | ||||
Communications equipment 0.3% | |||||
Ciena Corp., 2018 Term Loan B (1 month LIBOR + 1.750%) | 3.410 | 09-26-25 | 1,004,850 | 1,009,040 | |
Plantronics, Inc., 2018 Term Loan B (1 month LIBOR + 2.500%) | 4.145 | 07-02-25 | 1,359,575 | 1,304,172 | |
Electronic equipment, instruments and components 0.3% | |||||
CPI International, Inc., 2017 1st Lien Term Loan (1 month LIBOR + 3.500%) | 5.145 | 07-26-24 | 1,230,227 | 1,222,538 | |
Robertshaw US Holding Corp., 2018 1st Lien Term Loan (1 month LIBOR + 3.250%) | 4.938 | 02-28-25 | 1,159,350 | 1,069,500 | |
Robertshaw US Holding Corp., 2018 2nd Lien Term Loan (1 month LIBOR + 8.000%) | 9.688 | 02-28-26 | 700,000 | 560,000 | |
IT services 0.1% | |||||
Optiv Security, Inc., 1st Lien Term Loan (1 month LIBOR + 3.250%) | 4.895 | 02-01-24 | 676,521 | 584,345 |
34 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Information technology (continued) | |||||
Software 0.8% | |||||
Avaya, Inc., 2018 Term Loan B (1 month LIBOR + 4.250%) | 5.926 | 12-15-24 | 2,058,635 | $2,012,748 | |
Infor US, Inc., Term Loan B6 (3 month LIBOR + 2.750%) | 4.695 | 02-01-22 | 1,544,524 | 1,545,497 | |
Informatica LLC, 2018 USD Term Loan (1 month LIBOR + 3.250%) | 4.895 | 08-05-22 | 635,126 | 636,485 | |
SS&C European Holdings Sarl, 2018 Term Loan B4 (1 month LIBOR + 1.750%) | 3.895 | 04-16-25 | 545,532 | 545,417 | |
SS&C Technologies, Inc., 2018 Term Loan B3 (1 month LIBOR + 1.750%) | 3.895 | 04-16-25 | 756,447 | 756,289 | |
The Ultimate Software Group, Inc., Term Loan B (1 month LIBOR + 3.750%) | 5.395 | 05-04-26 | 653,363 | 655,708 | |
Technology hardware, storage and peripherals 0.6% | |||||
Dell International LLC, 2019 Term Loan B (1 month LIBOR + 2.000%) | 3.650 | 09-19-25 | 2,180,273 | 2,187,860 | |
HCP Acquisition LLC, 2017 Term Loan B (1 month LIBOR + 3.000%) | 4.645 | 05-16-24 | 921,073 | 923,090 | |
TierPoint LLC, 2017 1st Lien Term Loan (1 month LIBOR + 3.750%) | 5.395 | 05-06-24 | 931,422 | 907,102 | |
Western Digital Corp., 2018 Term Loan B4 (1 month LIBOR + 1.750%) | 3.395 | 04-29-23 | 1,211,766 | 1,211,257 | |
Materials 1.0% | 8,288,839 | ||||
Chemicals 0.6% | |||||
Atotech Alpha 3 BV, 2017 Term Loan B1 (3 month LIBOR + 3.000%) | 4.945 | 01-31-24 | 1,461,997 | 1,461,997 | |
Element Solutions, Inc., 2019 Term Loan B1 (1 month LIBOR + 2.000%) | 3.645 | 01-31-26 | 717,764 | 720,233 | |
Encapsys LLC, 1st Lien Term Loan (1 month LIBOR + 3.500%) | 5.145 | 11-07-24 | 1,278,587 | 1,282,845 | |
Ferro Corp., 2018 USD Term Loan B1 (3 month LIBOR + 2.250%) | 4.195 | 02-14-24 | 1,615,456 | 1,614,454 | |
Construction materials 0.1% | |||||
Summit Materials LLC, 2017 Term Loan B (1 month LIBOR + 2.000%) | 3.645 | 11-21-24 | 696,234 | 698,671 | |
Containers and packaging 0.1% | |||||
Berry Global, Inc., Term Loan W (1 month LIBOR + 2.000%) | 3.677 | 10-01-22 | 710,000 | 712,592 | |
Paper and forest products 0.2% | |||||
Flex Acquisition Company, Inc., 1st Lien Term Loan (1 and 3 month LIBOR + 3.000%) | 4.905 | 12-29-23 | 1,822,339 | 1,798,047 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 35 |
Rate (%) | Maturity date | Par value^ | Value | ||
Real estate 0.3% | $2,093,081 | ||||
Equity real estate investment trusts 0.2% | |||||
VICI Properties 1 LLC, Replacement Term Loan B (1 month LIBOR + 1.750%) | 3.409 | 12-20-24 | 1,070,000 | 1,070,139 | |
Real estate management and development 0.1% | |||||
Realogy Group LLC, 2018 Term Loan B (1 month LIBOR + 2.250%) | 3.895 | 02-08-25 | 1,035,366 | 1,022,942 | |
Utilities 0.4% | 3,323,823 | ||||
Electric utilities 0.2% | |||||
Vistra Operations Company LLC, 1st Lien Term Loan B3 (1 month LIBOR + 1.750%) | 3.400 | 12-31-25 | 1,957,672 | 1,963,682 | |
Independent power and renewable electricity producers 0.2% | |||||
Calpine Corp., Term Loan B5 (3 month LIBOR + 2.250%) | 4.200 | 01-15-24 | 1,356,465 | 1,360,141 | |
Collateralized mortgage obligations 15.0% | $123,007,094 | ||||
(Cost $120,769,072) | |||||
Commercial and residential 14.8% | 121,250,139 | ||||
280
Park Avenue Mortgage Trust Series 2017-280P, Class A (1 month LIBOR + 0.880%) (A)(B) |
2.556 | 09-15-34 | 2,500,000 | 2,502,020 | |
Arroyo
Mortgage Trust Series 2018-1, Class A1 (B)(I) |
3.763 | 04-25-48 | 1,641,105 | 1,661,820 | |
BBCMS Mortgage Trust | |||||
Series 2018-TALL, Class A (1 month LIBOR + 0.722%) (A)(B) | 2.398 | 03-15-37 | 3,700,000 | 3,690,707 | |
Series 2018-TALL, Class B (1 month LIBOR + 0.971%) (A)(B) | 2.647 | 03-15-37 | 2,225,000 | 2,218,741 | |
BBCMS Trust | |||||
Series 2018-BXH, Class A (1 month LIBOR + 1.000%) (A)(B) | 2.676 | 10-15-37 | 2,003,002 | 1,999,224 | |
Series 2018-RRI, Class A (1 month LIBOR + 0.700%) (A)(B) | 2.376 | 02-15-33 | 1,802,742 | 1,791,424 | |
BX Commercial Mortgage Trust | |||||
Series 2019-IMC, Class B (1 month LIBOR + 1.300%) (A)(B) | 2.976 | 04-15-34 | 3,000,000 | 3,001,877 | |
Series 2019-XL, Class B (1 month LIBOR + 1.080%) (A)(B) | 2.756 | 10-15-36 | 1,500,000 | 1,506,075 | |
Series 2020-BXLP, Class B (1 month LIBOR + 1.000%) (A)(B) | 2.780 | 12-15-29 | 1,500,000 | 1,501,928 | |
BX
Trust Series 2019-ATL, Class A (1 month LIBOR + 1.087%) (A)(B) |
2.763 | 10-15-36 | 4,000,000 | 3,999,994 | |
CG-CCRE
Commercial Mortgage Trust Series 2014-FL2, Class A (1 month LIBOR + 1.854%) (A)(B) |
3.530 | 11-15-31 | 1,216,964 | 1,214,724 |
36 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Commercial and residential (continued) | |||||
CGDB
Commercial Mortgage Trust Series 2019-MOB, Class A (1 month LIBOR + 0.950%) (A)(B) |
2.626 | 11-15-36 | 2,000,000 | $1,997,589 | |
CGMS
Commercial Mortgage Trust Series 2017-MDRB, Class A (1 month LIBOR + 1.100%) (A)(B) |
2.776 | 07-15-30 | 2,849,396 | 2,828,315 | |
CHT
Mortgage Trust Series 2017-CSMO, Class A (1 month LIBOR + 0.930%) (A)(B) |
2.606 | 11-15-36 | 4,900,000 | 4,901,495 | |
Citigroup Commercial Mortgage Trust (Citigroup/Drexel Hamilton) | |||||
Series 2018-TBR, Class A (1 month LIBOR + 0.830%) (A)(B) | 2.506 | 12-15-36 | 3,575,000 | 3,568,244 | |
Series 2019-SST2, Class A (1 month LIBOR + 0.920%) (A)(B) | 2.596 | 12-15-36 | 3,040,000 | 3,038,171 | |
Citigroup
Mortgage Loan Trust Series 2013-2, Class 5A1 (1 month LIBOR + 0.140%) (A)(B) |
1.932 | 07-25-36 | 742,374 | 737,492 | |
CLNY
Trust Series 2019-IKPR, Class A (1 month LIBOR + 1.129%) (A)(B) |
2.805 | 11-15-38 | 3,500,000 | 3,476,962 | |
COLT
Mortgage Loan Trust Series 2018-1, Class A1 (B)(I) |
2.930 | 02-25-48 | 457,904 | 458,628 | |
Countrywide
Home Loan Mortgage Pass Through Trust Series 2004-25, Class 2A1 (1 month LIBOR + 0.680%) (A) |
2.341 | 02-25-35 | 1,951,959 | 1,901,880 | |
Credit
Suisse Mortgage Capital Certificates Series 2019-ICE4, Class A (1 month LIBOR + 0.980%) (A)(B) |
2.656 | 05-15-36 | 3,000,000 | 3,004,947 | |
DBGS
Mortgage Trust Series 2018-5BP, Class A (1 month LIBOR + 0.645%) (A)(B) |
2.321 | 06-15-33 | 4,000,000 | 3,988,653 | |
Deephaven Residential Mortgage Trust | |||||
Series 2018-1A, Class A1 (B)(I) | 2.976 | 12-25-57 | 1,041,878 | 1,042,485 | |
Series 2019-2A, Class A1 (B)(I) | 3.558 | 04-25-59 | 1,720,119 | 1,737,652 | |
Financial
Asset Securities Corp. AAA Trust Series 2005-2, Class A3 (1 month LIBOR + 0.300%) (A)(B) |
1.960 | 11-26-35 | 1,678,666 | 1,624,040 | |
HarborView
Mortgage Loan Trust Series 2007-3, Class 2A1A (1 month LIBOR + 0.200%) (A) |
1.854 | 05-19-47 | 1,784,303 | 1,768,263 | |
Hilton
Orlando Trust Series 2018-ORL, Class A (1 month LIBOR + 0.770%) (A)(B) |
2.446 | 12-15-34 | 2,675,000 | 2,674,936 | |
Hudsons
Bay Simon JV Trust Series 2015-HBFL, Class AFL (1 month LIBOR + 1.830%) (A)(B) |
3.534 | 08-05-34 | 6,250,000 | 6,257,208 | |
IndyMac
INDA Mortgage Loan Trust Series 2005-AR2, Class 1A1 (I) |
3.247 | 01-25-36 | 473,960 | 440,993 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 37 |
Rate (%) | Maturity date | Par value^ | Value | ||
Commercial and residential (continued) | |||||
JPMBB
Commercial Mortgage Securities Trust Series 2015-C29, Class A2 |
2.921 | 05-15-48 | 983,375 | $983,926 | |
JPMorgan
Chase Commercial Mortgage Securities Corp. Series 2019-MARG, Class A (1 month LIBOR + 1.100%) (A)(B) |
2.776 | 05-15-34 | 2,250,000 | 2,252,288 | |
JPMorgan
Chase Commercial Mortgage Securities Trust Series 2006-LDP9, Class AMS |
5.337 | 05-15-47 | 4,260,857 | 4,151,800 | |
Key
Commercial Mortgage Securities Trust Series 2019-S2, Class A1 (B) |
2.656 | 06-15-52 | 2,984,917 | 3,025,495 | |
LSTAR Securities Investment Trust | |||||
Series 2019-1, Class A1 (1 month LIBOR + 1.700%) (A)(B) | 3.355 | 03-01-24 | 1,133,644 | 1,129,264 | |
Series 2019-3, Class A1 (1 month LIBOR + 1.500%) (A)(B) | 3.155 | 04-01-24 | 2,940,830 | 2,941,123 | |
Series 2019-4, Class A1 (1 month LIBOR + 1.500%) (A)(B) | 3.155 | 05-01-24 | 4,443,862 | 4,446,397 | |
MBRT
Series 2019-MBR, Class A (1 month LIBOR + 0.850%) (A)(B) |
2.590 | 11-15-36 | 4,300,000 | 4,294,720 | |
Morgan Stanley Capital I Trust | |||||
Series 2017-ASHF, Class A (1 month LIBOR + 0.850%) (A)(B) | 2.526 | 11-15-34 | 2,673,393 | 2,667,490 | |
Series 2019-NUGS, Class A (1 month LIBOR + 0.950%) (A)(B) | 2.626 | 12-15-36 | 2,200,000 | 2,196,706 | |
Motel
6 Trust Series 2017-MTL6, Class B (1 month LIBOR + 1.190%) (A)(B) |
2.866 | 08-15-34 | 1,604,896 | 1,604,875 | |
MSCG
Trust Series 2018-SELF, Class A (1 month LIBOR + 0.900%) (A)(B) |
2.576 | 10-15-37 | 1,775,000 | 1,774,996 | |
MTRO
Commercial Mortgage Trust Series 2019-TECH, Class A (1 month LIBOR + 0.900%) (A)(B) |
2.576 | 12-15-33 | 2,650,000 | 2,649,997 | |
RBS
Commercial Funding, Inc. Trust Series 2013-GSP, Class A (B)(I) |
3.961 | 01-15-32 | 4,250,000 | 4,506,397 | |
RBSSP Resecuritization Trust | |||||
Series 2012-6, Class 4A1 (1 month LIBOR + 0.330%) (A)(B) | 2.122 | 01-26-36 | 478,076 | 476,902 | |
Series 2012-6, Class 6A1 (1 month LIBOR + 0.340%) (A)(B) | 2.472 | 11-26-35 | 1,570,790 | 1,572,378 | |
Series 2012-6, Class 8A1 (1 month LIBOR + 0.500%) (A)(B) | 2.292 | 04-26-35 | 306,929 | 306,655 | |
Verus Securitization Trust | |||||
Series 2019-2, Class A1 (B)(I) | 3.211 | 05-25-59 | 1,343,162 | 1,355,434 | |
Series 2019-3, Class A1 (B) | 2.784 | 07-25-59 | 2,121,516 | 2,129,074 | |
WaMu Mortgage Pass-Through Certificates | |||||
Series 2005-AR1, Class A1A (1 month LIBOR + 0.640%) (A) | 2.301 | 01-25-45 | 613,745 | 613,295 |
38 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Commercial and residential (continued) | |||||
Series 2005-AR11, Class A1A (1 month LIBOR + 0.320%) (A) | 1.981 | 08-25-45 | 1,509,665 | $1,510,990 | |
Series 2005-AR19, Class A1A1 (1 month LIBOR + 0.270%) (A) | 1.931 | 12-25-45 | 1,493,593 | 1,491,365 | |
Series 2005-AR6, Class 2A1A (1 month LIBOR + 0.460%) (A) | 2.121 | 04-25-45 | 1,395,302 | 1,393,741 | |
Series 2005-AR8, Class 1A1A (1 month LIBOR + 0.540%) (A) | 2.201 | 07-25-45 | 1,257,112 | 1,238,344 | |
U.S. Government Agency 0.2% | 1,756,955 | ||||
Federal Home Loan Mortgage Corp. | |||||
Series 2015-SC02, Class 1A | 3.000 | 09-25-45 | 247,153 | 251,287 | |
Series 4013, Class DK | 3.000 | 02-15-31 | 822,443 | 842,197 | |
Government
National Mortgage Association Series 2014-80, Class XA |
3.000 | 06-20-40 | 646,118 | 663,471 | |
Asset backed securities 8.9% | $73,363,276 | ||||
(Cost $72,629,104) | |||||
Asset backed securities 8.9% | 73,363,276 | ||||
AmeriCredit
Automobile Receivables Trust Series 2017-3, Class C |
2.690 | 06-19-23 | 2,150,000 | 2,172,220 | |
Aqua
Finance Trust Series 2019-A, Class A (B) |
3.140 | 07-16-40 | 1,806,770 | 1,823,974 | |
Drive
Auto Receivables Trust Series 2019-1, Class C |
3.780 | 04-15-25 | 2,415,000 | 2,463,084 | |
Ford
Credit Auto Owner Trust Series 2018-1, Class A (B) |
3.190 | 07-15-31 | 2,575,000 | 2,736,289 | |
Hyundai
Auto Lease Securitization Trust Series 2017-C, Class A3 (B) |
2.120 | 02-16-21 | 456,385 | 456,410 | |
Invitation Homes Trust | |||||
Series 2017-SFR2, Class A (1 month LIBOR + 0.850%) (A)(B) | 2.519 | 12-17-36 | 1,949,370 | 1,948,760 | |
Series 2018-SFR1, Class A (1 month LIBOR + 0.700%) (A)(B) | 2.369 | 03-17-37 | 2,756,213 | 2,735,662 | |
Series 2018-SFR2, Class A (1 month LIBOR + 0.900%) (A)(B) | 2.576 | 06-17-37 | 2,595,837 | 2,595,834 | |
Series 2018-SFR3, Class A (1 month LIBOR + 1.000%) (A)(B) | 2.669 | 07-17-37 | 3,056,424 | 3,056,420 | |
New
Residential Advance Receivables Trust Series 2019-T2, Class AT2 (B) |
2.520 | 08-15-53 | 3,000,000 | 3,013,078 | |
Ocwen
Master Advance Receivables Trust Series 2019-T2, Class BT2 (B) |
2.646 | 08-15-51 | 1,600,000 | 1,616,948 | |
Pretium Mortgage Credit Partners I LLC | |||||
Series 2019-NPL2, Class A1 (B) | 3.844 | 12-25-58 | 1,865,615 | 1,872,729 | |
Series 2019-NPL3, Class A1 (B) | 3.105 | 07-27-59 | 1,233,813 | 1,234,731 | |
Santander
Drive Auto Receivables Trust Series 2018-1, Class E (B) |
4.370 | 05-15-25 | 1,775,000 | 1,816,476 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 39 |
Rate (%) | Maturity date | Par value^ | Value | ||
Asset backed securities (continued) | |||||
SMB Private Education Loan Trust | |||||
Series 2015-B, Class A3 (1 month LIBOR + 1.750%) (A)(B) | 3.426 | 05-17-32 | 900,000 | $920,747 | |
Series 2017-B, Class A2B (1 month LIBOR + 0.750%) (A)(B) | 2.426 | 10-15-35 | 2,357,043 | 2,357,985 | |
SoFi Professional Loan Program LLC | |||||
Series 2015-C, Class A1 (1 month LIBOR + 1.050%) (A)(B) | 2.711 | 08-27-35 | 516,312 | 519,297 | |
Series 2016-C, Class A1 (1 month LIBOR + 1.100%) (A)(B) | 2.761 | 10-27-36 | 592,754 | 596,032 | |
Series 2016-D, Class A1 (1 month LIBOR + 0.950%) (A)(B) | 2.611 | 01-25-39 | 361,668 | 363,492 | |
Springleaf
Funding Trust Series 2016-AA, Class A (B) |
2.900 | 11-15-29 | 660,595 | 660,999 | |
TAL
Advantage V LLC Series 2013-2A, Class A (B) |
3.550 | 11-20-38 | 1,437,500 | 1,447,328 | |
Towd
Point Mortgage Trust Series 2018-4, Class A1 (B)(I) |
3.000 | 06-25-58 | 3,570,336 | 3,683,147 | |
Trafigura Securitisation Finance PLC | |||||
Series 2017-1A, Class A1 (1 month LIBOR + 0.850%) (A)(B) | 2.526 | 12-15-20 | 4,150,000 | 4,151,598 | |
Series 2018-1A, Class A1 (1 month LIBOR + 0.730%) (A)(B) | 2.406 | 03-15-22 | 3,780,000 | 3,778,129 | |
Vericrest Opportunity Loan Trust | |||||
Series 2019-NPL2, Class A1 (B) | 3.967 | 02-25-49 | 1,683,428 | 1,691,125 | |
Series 2019-NPL3, Class A1 (B) | 3.967 | 03-25-49 | 1,400,089 | 1,409,506 | |
Series 2019-NPL4, Class A1A (B) | 3.352 | 08-25-49 | 1,909,209 | 1,913,476 | |
VOLT
LXIV LLC Series 2017-NP11, Class A1 (B) |
3.375 | 10-25-47 | 1,114,487 | 1,114,909 | |
VOLT
LXXII LLC Series 2018-NPL8, Class A1A (B) |
4.213 | 10-26-48 | 2,697,296 | 2,704,184 | |
VOLT
LXXX LLC Series 2019-NPL6, Class A1A (B) |
3.228 | 10-25-49 | 2,929,531 | 2,937,493 | |
VOLT
LXXXIII LLC Series 2019-NPL9, Class A1A (B) |
3.327 | 11-26-49 | 1,932,209 | 1,938,252 | |
VOLT
LXXXIV LLC Series 2019-NP10, Class A1A (B) |
3.426 | 12-27-49 | 4,050,000 | 4,051,987 | |
World Financial Network Credit Card Master Trust | |||||
Series 2017-C, Class M | 2.660 | 08-15-24 | 3,375,000 | 3,374,949 | |
Series 2018-B, Class M | 3.810 | 07-15-25 | 4,100,000 | 4,206,026 | |
Shares | Value | ||||
Common stocks 0.0% | $37,556 | ||||
(Cost $98,232) | |||||
Energy 0.0% | 37,556 | ||||
Energy equipment and services 0.0% | |||||
Paragon Offshore PLC, Litigation Trust A (J) | 2,695 | 539 |
40 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Energy (continued) | |||||
Energy equipment and services (continued) | |||||
Paragon Offshore PLC, Litigation Trust B (J) | 1,348 | $20,220 | |||
Southcross Holdings LP (J) | 246 | 16,728 | |||
Oil, gas and consumable fuels 0.0% | |||||
Euronav NV | 7 | 69 |
Rate (%) | Maturity date | Par value^ | Value | ||
Escrow certificates 0.0% | $16,231 | ||||
(Cost $4,430) | |||||
Texas Competitive Electric Holdings Company LLC (J)(K) | 11.500 | 10-01-20 | 10,820,544 | 16,231 | |
Shares/Notional amount | Value | ||||
Purchased options 0.0% | $12,662 | ||||
(Cost $78,096) | |||||
Calls 0.0% | 12,662 | ||||
Over the Counter Option on the USD vs. HKD (Expiration Date: 9-1-20; Strike Price: $7.86; Counterparty: Goldman Sachs International) (J)(L) | 2,373,690 | 3,672 | |||
Over the Counter Option on the USD vs. HKD (Expiration Date: 9-1-20; Strike Price: $7.86; Counterparty: Goldman Sachs International) (J)(L) | 5,696,857 | 8,990 | |||
Yield (%) | Shares | Value | |||
Short-term investments 6.0% | $49,436,561 | ||||
(Cost $49,436,443) | |||||
Short-term funds 6.0% | 49,436,561 | ||||
John Hancock Collateral Trust (M) | 1.6984(N) | 92,202 | 922,737 | ||
State Street Institutional Treasury Plus Money Market Fund, Premier Class | 1.5156(N) | 48,513,824 | 48,513,824 |
Total investments (Cost $796,363,848) 99.3% | $815,468,465 | ||||
Other assets and liabilities, net 0.7% | 5,548,762 | ||||
Total net assets 100.0% | $821,017,227 |
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. | |
Currency Abbreviations | |
BRL | Brazilian Real |
CLP | Chilean Peso |
COP | Colombian Peso |
CZK | Czech Republic Koruna |
EGP | Egyptian Pound |
EUR | Euro |
HKD | Hong Kong Dollar |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 41 |
IDR | Indonesian Rupiah |
MXN | Mexican Peso |
MYR | Malaysian Ringgit |
PEN | Peruvian Nuevo Sol |
PLN | Polish Zloty |
RON | Romanian New Leu |
RUB | Russian Ruble |
THB | Thai Bhat |
TRY | Turkish Lira |
UYU | Uruguayan Peso |
ZAR | South African Rand |
Security Abbreviations and Legend | |
CMT | Constant Maturity Treasury |
LIBOR | London Interbank Offered Rate |
SOFR | Secured Overnight Financing Rate |
(A) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
(B) | These securities are 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. Rule 144A securities amounted to $312,379,123 or 38.0% of the fund's net assets as of 1-31-20. |
(C) | Zero coupon bonds are issued at a discount from their principal amount in lieu of paying interest periodically. Rate shown is the effective yield at period end. |
(D) | Non-income producing - Issuer is in default. |
(E) | All or a portion of this security is on loan as of 1-31-20. |
(F) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
(G) | Term loans are variable rate obligations. The coupon rate shown represents the rate at period end. |
(H) | This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate, which is disclosed as TBD (To Be Determined). |
(I) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
(J) | Non-income producing security. |
(K) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
(L) | For this type of option, notional amounts are equivalent to number of contracts. |
(M) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |
(N) | The rate shown is the annualized seven-day yield as of 1-31-20. |
42 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Open contracts | Number
of contracts |
Position | Expiration
date |
Notional
basis^ |
Notional
value^ |
Unrealized
appreciation (depreciation) |
2-Year U.S. Treasury Note Futures | 170 | Long | Mar 2020 | $36,668,847 | $36,781,094 | $112,247 |
5-Year U.S. Treasury Note Futures | 1,026 | Long | Mar 2020 | 122,082,318 | 123,448,641 | 1,366,323 |
10-Year U.S. Treasury Note Futures | 155 | Short | Mar 2020 | (20,108,241) | (20,406,719) | (298,478) |
Ultra U.S. Treasury Bond Futures | 396 | Short | Mar 2020 | (74,814,655) | (76,700,250) | (1,885,595) |
$(705,503) |
Contract to buy | Contract to sell | Counterparty (OTC) | Contractual
settlement date |
Unrealized
appreciation |
Unrealized
depreciation | ||
BRL | 547,000 | USD | 134,534 | CITI | 2/4/2020 | — | $(6,807) |
BRL | 693,000 | USD | 170,484 | GSI | 2/4/2020 | — | (8,666) |
BRL | 1,120,000 | USD | 275,475 | JPM | 2/4/2020 | — | (13,952) |
BRL | 948,000 | USD | 223,718 | CITI | 3/3/2020 | — | (2,691) |
BRL | 693,000 | USD | 164,659 | GSI | 3/3/2020 | — | (3,086) |
BRL | 870,000 | USD | 206,796 | JPM | 3/3/2020 | — | (3,955) |
CLP | 309,489,818 | USD | 412,433 | CITI | 2/28/2020 | — | (25,851) |
CLP | 24,741,360 | USD | 32,956 | JPM | 2/28/2020 | — | (2,051) |
CZK | 10,100,452 | USD | 438,968 | CITI | 2/6/2020 | $5,169 | — |
CZK | 3,768,000 | USD | 163,826 | GSI | 2/6/2020 | 1,860 | — |
CZK | 8,049,828 | USD | 349,764 | JPM | 2/6/2020 | 4,203 | — |
EUR | 7,550,000 | GBP | 6,406,724 | CITI | 2/13/2020 | — | (84,168) |
EUR | 5,460,000 | USD | 6,128,855 | JPM | 2/10/2020 | — | (71,246) |
EUR | 5,670,000 | USD | 6,320,921 | CITI | 2/13/2020 | — | (29,173) |
EUR | 61,200 | USD | 68,294 | CITI | 2/28/2020 | — | (320) |
EUR | 1,383,520 | USD | 1,540,902 | JPM | 3/25/2020 | — | (1,796) |
HUF | 57,222,150 | USD | 188,116 | GSI | 2/28/2020 | 161 | — |
HUF | 57,388,850 | USD | 188,627 | JPM | 2/28/2020 | 199 | — |
JPY | 449,975,000 | USD | 4,094,247 | GSI | 2/6/2020 | 58,976 | — |
MXN | 117,630,000 | USD | 6,286,394 | JPM | 2/6/2020 | — | (62,024) |
MXN | 38,865,000 | USD | 2,072,685 | CITI | 2/20/2020 | — | (20,411) |
MXN | 38,865,000 | USD | 2,072,725 | JPM | 2/20/2020 | — | (20,455) |
SGD | 11,200,000 | USD | 8,312,108 | CITI | 2/6/2020 | — | (104,660) |
THB | 5,636,000 | USD | 185,670 | CITI | 2/20/2020 | — | (4,802) |
THB | 7,451,664 | USD | 246,556 | GSI | 2/20/2020 | — | (7,421) |
THB | 1,638,000 | USD | 54,197 | JPM | 2/20/2020 | — | (1,631) |
USD | 130,145 | BRL | 547,000 | CITI | 2/4/2020 | 2,419 | — |
USD | 164,863 | BRL | 693,000 | GSI | 2/4/2020 | 3,045 | — |
USD | 269,350 | BRL | 1,120,000 | JPM | 2/4/2020 | 7,826 | — |
USD | 314,916 | COP | 1,040,671,380 | CITI | 3/20/2020 | 11,448 | — |
USD | 9,605,596 | EUR | 8,550,561 | JPM | 3/25/2020 | 93,468 | — |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 43 |
Contract to buy | Contract to sell | Counterparty (OTC) | Contractual
settlement date |
Unrealized
appreciation |
Unrealized
depreciation | ||
USD | 4,162,311 | GBP | 3,160,000 | JPM | 2/6/2020 | — | $(10,685) |
USD | 487,627 | IDR | 6,847,747,000 | JPM | 2/7/2020 | — | (11,459) |
USD | 16,639,427 | JPY | 1,799,900,000 | GSI | 2/6/2020 | $26,536 | — |
USD | 4,154,434 | JPY | 452,360,000 | GSI | 2/26/2020 | — | (25,213) |
USD | 2,066,603 | MXN | 39,070,000 | CITI | 2/6/2020 | — | (779) |
USD | 4,117,981 | MXN | 78,560,000 | GSI | 2/6/2020 | — | (39,006) |
USD | 338,338 | MXN | 6,373,981 | CITI | 2/28/2020 | 2,157 | — |
USD | 433,452 | MXN | 8,167,456 | GSI | 2/28/2020 | 2,679 | — |
USD | 154,603 | MXN | 2,912,694 | JPM | 2/28/2020 | 980 | — |
USD | 216,475 | PEN | 729,000 | CITI | 2/21/2020 | 1,323 | — |
USD | 79,866 | PEN | 268,821 | GSI | 2/21/2020 | 528 | — |
USD | 460,350 | RUB | 29,105,500 | GSI | 3/30/2020 | 7,774 | — |
USD | 8,312,786 | SGD | 11,200,000 | JPM | 2/6/2020 | 105,339 | — |
USD | 446,598 | ZAR | 6,689,551 | GSI | 2/13/2020 | 1,415 | — |
ZAR | 850,000 | USD | 59,335 | GSI | 2/13/2020 | — | (2,768) |
$337,505 | $(565,076) |
Credit default swaps - Buyer | ||||||||||
Counterparty
(OTC)/ Centrally cleared |
Reference
obligation |
Notional
amount |
Currency | USD
notional amount |
Pay
fixed rate |
Fixed
payment frequency |
Maturity
date |
Unamortized
upfront payment paid (received) |
Unrealized
appreciation (depreciation) |
Value |
Centrally cleared | CDX.NA.HY.33 | 56,801,250 | USD | $ 56,801,250 | 5.000% | Quarterly | Dec 2024 | $ (4,268,882) | $ (811,766) | $ (5,080,648) |
Centrally cleared | CDX.NA.IG.33 | 80,975,000 | USD | 80,975,000 | 1.000% | Quarterly | Dec 2024 | (1,577,528) | (406,274) | (1,983,802) |
Centrally cleared | iTraxx Europe Crossover Series 32 Version 1 | 9,800,000 | EUR | 10,789,803 | 5.000% | Quarterly | Dec 2024 | (1,310,827) | (87,801) | (1,398,628) |
$148,566,053 | $(7,157,237) | $(1,305,841) | $(8,463,078) |
Derivatives Currency Abbreviations | |
BRL | Brazilian Real |
CLP | Chilean Peso |
COP | Colombian Peso |
CZK | Czech Republic Koruna |
EUR | Euro |
GBP | Pound Sterling |
HUF | Hungarian Forint |
IDR | Indonesian Rupiah |
JPY | Japanese Yen |
MXN | Mexican Peso |
PEN | Peruvian Nuevo Sol |
RUB | Russian Ruble |
44 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
SGD | Singapore Dollar |
THB | Thai Bhat |
USD | U.S. Dollar |
ZAR | South African Rand |
Derivatives Abbreviations | |
CITI | Citibank, N.A. |
GSI | Goldman Sachs International |
JPM | JPMorgan Chase Bank, N.A. |
OTC | Over-the-counter |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 45 |
Financial statements |
Assets | |
Unaffiliated investments, at value (Cost $795,441,229) including $901,553 of securities loaned | $814,545,728 |
Affiliated investments, at value (Cost $922,619) | 922,737 |
Total investments, at value (Cost $796,363,848) | 815,468,465 |
Receivable for centrally cleared swaps | 3,386,272 |
Unrealized appreciation on forward foreign currency contracts | 337,505 |
Receivable for futures variation margin | 65,454 |
Cash | 751,221 |
Foreign currency, at value (Cost $677,205) | 686,221 |
Collateral held at broker for futures contracts | 1,440,477 |
Collateral segregated at custodian for OTC derivative contracts | 260,000 |
Interest receivable | 5,988,728 |
Receivable for fund shares sold | 1,374,167 |
Receivable for investments sold | 5,467,603 |
Receivable for securities lending income | 409 |
Other assets | 62,183 |
Total assets | 835,288,705 |
Liabilities | |
Unrealized depreciation on forward foreign currency contracts | 565,076 |
Distributions payable | 236 |
Payable for collateral on OTC derivatives | 200,000 |
Payable for investments purchased | 10,485,688 |
Payable for fund shares repurchased | 1,942,384 |
Payable upon return of securities loaned | 923,403 |
Payable to affiliates | |
Accounting and legal services fees | 12,963 |
Transfer agent fees | 13,923 |
Trustees' fees | 1,983 |
Other liabilities and accrued expenses | 125,822 |
Total liabilities | 14,271,478 |
Net assets | $821,017,227 |
Net assets consist of | |
Paid-in capital | $901,470,899 |
Total distributable earnings (loss) | (80,453,672) |
Net assets | $821,017,227 |
46 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
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 ($87,655,861 ÷ 9,112,940 shares)1 | $9.62 |
Class C ($4,104,022 ÷ 426,703 shares)1 | $9.62 |
Class I ($46,089,598 ÷ 4,798,224 shares) | $9.61 |
Class R6 ($7,791,401 ÷ 810,107 shares) | $9.62 |
Class NAV ($675,376,345 ÷ 70,180,222 shares) | $9.62 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 97.5%)2 | $9.87 |
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 $100,000. On sales of $100,000 or more and on group sales the offering price is reduced. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 47 |
Investment
income |
|
Interest | $18,623,956 |
Dividends | 74,761 |
Securities lending | 7,944 |
Less foreign taxes withheld | (34,939) |
Total investment income | 18,671,722 |
Expenses | |
Investment management fees | 2,975,584 |
Distribution and service fees | 149,774 |
Accounting and legal services fees | 78,182 |
Transfer agent fees | 81,184 |
Trustees' fees | 7,918 |
Custodian fees | 78,750 |
State registration fees | 66,781 |
Printing and postage | 19,830 |
Professional fees | 63,229 |
Other | 22,445 |
Total expenses | 3,543,677 |
Less expense reductions | (31,527) |
Net expenses | 3,512,150 |
Net investment income | 15,159,572 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | 3,529,688 |
Affiliated investments | 750 |
Futures contracts | (6,816,396) |
Forward foreign currency contracts | (587,585) |
Swap contracts | (2,324,127) |
(6,197,670) | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | 6,534,725 |
Affiliated investments | (549) |
Futures contracts | 2,402,545 |
Forward foreign currency contracts | 250,978 |
Swap contracts | 836,112 |
10,023,811 | |
Net realized and unrealized gain | 3,826,141 |
Increase in net assets from operations | $18,985,713 |
48 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Six
months ended 1-31-20 (unaudited) |
Year
ended 7-31-19 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $15,159,572 | $37,640,939 |
Net realized loss | (6,197,670) | (18,372,740) |
Change in net unrealized appreciation (depreciation) | 10,023,811 | 22,021,633 |
Increase in net assets resulting from operations | 18,985,713 | 41,289,832 |
Distributions to shareholders | ||
From earnings | ||
Class A | (1,375,662) | (2,767,811) |
Class C | (45,516) | (99,418) |
Class I | (710,460) | (1,336,913) |
Class R21 | (417) | (1,890) |
Class R41 | (428) | (1,938) |
Class R6 | (134,255) | (294,792) |
Class NAV | (12,583,603) | (32,429,565) |
Total distributions | (14,850,341) | (36,932,327) |
From fund share transactions | (60,477,340) | (85,179,778) |
Total decrease | (56,341,968) | (80,822,273) |
Net assets | ||
Beginning of period | 877,359,195 | 958,181,468 |
End of period | $821,017,227 | $877,359,195 |
1 | Class R2 and Class R4 shares were fully redeemed on 10-29-19. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 49 |
Financial highlights |
CLASS A SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $9.57 | $9.51 | $9.74 | $9.57 | $9.73 | $10.25 |
Net investment income2 | 0.15 | 0.35 | 0.32 | 0.29 | 0.29 | 0.31 |
Net realized and unrealized gain (loss) on investments | 0.05 | 0.06 | (0.23) | 0.17 | (0.11) | (0.52) |
Total from investment operations | 0.20 | 0.41 | 0.09 | 0.46 | 0.18 | (0.21) |
Less distributions | ||||||
From net investment income | (0.15) | (0.35) | (0.32) | (0.29) | (0.34) | (0.31) |
Net asset value, end of period | $9.62 | $9.57 | $9.51 | $9.74 | $9.57 | $9.73 |
Total return (%)3,4 | 2.14 5 | 4.45 | 0.91 | 4.85 | 1.93 | (2.03) |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $88 | $92 | $60 | $37 | $27 | $27 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.21 6 | 1.20 | 1.18 | 1.17 | 1.17 | 1.21 |
Expenses including reductions | 1.20 6 | 1.19 | 1.17 | 1.16 | 1.17 | 1.20 |
Net investment income | 3.20 6 | 3.69 | 3.30 | 2.99 | 3.10 | 3.10 |
Portfolio turnover (%) | 32 | 59 | 68 | 77 | 52 | 61 |
1 | Six months ended 1-31-20. Unaudited. |
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. |
50 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS C SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $9.57 | $9.51 | $9.74 | $9.57 | $9.73 | $10.25 |
Net investment income2 | 0.12 | 0.29 | 0.26 | 0.24 | 0.23 | 0.23 |
Net realized and unrealized gain (loss) on investments | 0.05 | 0.06 | (0.24) | 0.15 | (0.12) | (0.52) |
Total from investment operations | 0.17 | 0.35 | 0.02 | 0.39 | 0.11 | (0.29) |
Less distributions | ||||||
From net investment income | (0.12) | (0.29) | (0.25) | (0.22) | (0.27) | (0.23) |
Net asset value, end of period | $9.62 | $9.57 | $9.51 | $9.74 | $9.57 | $9.73 |
Total return (%)3,4 | 1.78 5 | 3.74 | 0.24 | 4.15 | 1.23 | (2.82) |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $4 | $3 | $3 | $3 | $3 | $2 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.91 6 | 1.90 | 1.88 | 1.87 | 1.88 | 2.27 |
Expenses including reductions | 1.90 6 | 1.89 | 1.87 | 1.86 | 1.87 | 2.00 |
Net investment income | 2.54 6 | 3.12 | 2.72 | 2.44 | 2.47 | 2.36 |
Portfolio turnover (%) | 32 | 59 | 68 | 77 | 52 | 61 |
1 | Six months ended 1-31-20. Unaudited. |
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. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 51 |
CLASS I SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $9.56 | $9.49 | $9.73 | $9.56 | $9.72 | $10.24 |
Net investment income2 | 0.17 | 0.38 | 0.36 | 0.33 | 0.33 | 0.34 |
Net realized and unrealized gain (loss) on investments | 0.05 | 0.07 | (0.25) | 0.16 | (0.12) | (0.51) |
Total from investment operations | 0.22 | 0.45 | 0.11 | 0.49 | 0.21 | (0.17) |
Less distributions | ||||||
From net investment income | (0.17) | (0.38) | (0.35) | (0.32) | (0.37) | (0.35) |
Net asset value, end of period | $9.61 | $9.56 | $9.49 | $9.73 | $9.56 | $9.72 |
Total return (%)3 | 2.18 4 | 4.87 | 1.13 | 5.21 | 2.25 | (1.71) |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $46 | $37 | $37 | $33 | $23 | $26 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.91 5 | 0.91 | 0.88 | 0.86 | 0.86 | 0.88 |
Expenses including reductions | 0.90 5 | 0.90 | 0.87 | 0.85 | 0.85 | 0.87 |
Net investment income | 3.52 5 | 4.09 | 3.70 | 3.44 | 3.49 | 3.46 |
Portfolio turnover (%) | 32 | 59 | 68 | 77 | 52 | 61 |
1 | Six months ended 1-31-20. Unaudited. |
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 | Annualized. |
52 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R6 SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 2 |
Per share operating performance | ||||||
Net asset value, beginning of period | $9.57 | $9.50 | $9.74 | $9.57 | $9.73 | $9.93 |
Net investment income3 | 0.18 | 0.40 | 0.37 | 0.34 | 0.34 | 0.11 |
Net realized and unrealized gain (loss) on investments | 0.04 | 0.06 | (0.25) | 0.16 | (0.12) | (0.19) |
Total from investment operations | 0.22 | 0.46 | 0.12 | 0.50 | 0.22 | (0.08) |
Less distributions | ||||||
From net investment income | (0.17) | (0.39) | (0.36) | (0.33) | (0.38) | (0.12) |
Net asset value, end of period | $9.62 | $9.57 | $9.50 | $9.74 | $9.57 | $9.73 |
Total return (%)4 | 2.35 5 | 4.99 | 1.24 | 5.33 | 2.40 | (0.78) 5 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $8 | $7 | $6 | $2 | $1 | $— 6 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.80 7 | 0.79 | 0.78 | 0.77 | 0.77 | 0.74 7 |
Expenses including reductions | 0.79 7 | 0.79 | 0.77 | 0.74 | 0.74 | 0.73 7 |
Net investment income | 3.65 7 | 4.22 | 3.85 | 3.56 | 3.61 | 3.31 7 |
Portfolio turnover (%) | 32 | 59 | 68 | 77 | 52 | 61 8 |
1 | Six months ended 1-31-20. Unaudited. |
2 | The inception date for Class R6 shares is 3-27-15. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Not annualized. |
6 | Less than $500,000. |
7 | Annualized. |
8 | Portfolio turnover is shown for the period from 8-1-14 to 7-31-15. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | 53 |
CLASS NAV SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $9.57 | $9.51 | $9.75 | $9.57 | $9.74 | $10.25 |
Net investment income2 | 0.18 | 0.40 | 0.37 | 0.34 | 0.34 | 0.36 |
Net realized and unrealized gain (loss) on investments | 0.04 | 0.05 | (0.25) | 0.17 | (0.13) | (0.51) |
Total from investment operations | 0.22 | 0.45 | 0.12 | 0.51 | 0.21 | (0.15) |
Less distributions | ||||||
From net investment income | (0.17) | (0.39) | (0.36) | (0.33) | (0.38) | (0.36) |
Net asset value, end of period | $9.62 | $9.57 | $9.51 | $9.75 | $9.57 | $9.74 |
Total return (%)3 | 2.25 4 | 5.00 | 1.25 | 5.43 | 2.27 | (1.46) |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $675 | $738 | $853 | $1,156 | $1,326 | $1,402 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.79 5 | 0.78 | 0.77 | 0.75 | 0.75 | 0.74 |
Expenses including reductions | 0.78 5 | 0.77 | 0.76 | 0.74 | 0.74 | 0.73 |
Net investment income | 3.67 5 | 4.24 | 3.81 | 3.55 | 3.61 | 3.63 |
Portfolio turnover (%) | 32 | 59 | 68 | 77 | 52 | 61 |
1 | Six months ended 1-31-20. Unaudited. |
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 | Annualized. |
54 | JOHN HANCOCK SHORT DURATION CREDIT OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Notes to financial statements (unaudited) |
SEMIANNUAL REPORT | JOHN HANCOCK Short Duration Credit Opportunities Fund | 55 |
Total
value at 1-31-20 |
Level
1 quoted price |
Level
2 significant observable inputs |
Level
3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
U.S. Government and Agency obligations | $3,605,671 | — | $3,605,671 | — |
Foreign government obligations | 94,416,805 | — | 94,416,805 | — |
Corporate bonds | 320,197,872 | — | 320,197,872 | — |
Term loans | 151,374,737 | — | 151,374,737 | — |
Collateralized mortgage obligations | 123,007,094 | — | 123,007,094 | — |
Asset backed securities | 73,363,276 | — | 73,363,276 | — |
Common stocks | 37,556 | $69 | 37,487 | — |
Escrow certificates | 16,231 | — | — | $16,231 |
Purchased options | 12,662 | — | 12,662 | — |
Short-term investments | 49,436,561 | 49,436,561 | — | — |
Total investments in securities | $815,468,465 | $49,436,630 | $766,015,604 | $16,231 |
56 | JOHN HANCOCK Short Duration Credit Opportunities Fund | SEMIANNUAL REPORT |
Total
value at 1-31-20 |
Level
1 quoted price |
Level
2 significant observable inputs |
Level
3 significant unobservable inputs | |
Derivatives: | ||||
Assets | ||||
Futures | $1,478,570 | $1,478,570 | — | — |
Forward foreign currency contracts | 337,505 | — | $337,505 | — |
Liabilities | ||||
Futures | (2,184,073) | (2,184,073) | — | — |
Forward foreign currency contracts | (565,076) | — | (565,076) | — |
Swap contracts | (8,463,078) | — | (8,463,078) | — |
SEMIANNUAL REPORT | JOHN HANCOCK Short Duration Credit Opportunities Fund | 57 |
58 | JOHN HANCOCK Short Duration Credit Opportunities Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Short Duration Credit Opportunities Fund | 59 |
60 | JOHN HANCOCK Short Duration Credit Opportunities Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Short Duration Credit Opportunities Fund | 61 |
62 | JOHN HANCOCK Short Duration Credit Opportunities Fund | SEMIANNUAL REPORT |
Risk | Statement
of assets and liabilities location |
Financial
instruments location |
Assets
derivatives fair value |
Liabilities
derivatives fair value |
Interest rate | Receivable/payable for futures variation margin | Futures 1 | $1,478,570 | $(2,184,073) |
Currency | Unrealized appreciation / depreciation on forward foreign currency contracts | Forward foreign currency contracts | 337,505 | (565,076) |
Currency | Unaffiliated investments, at value2 | Purchased options | 12,662 | — |
Credit | Swap contracts, at value | Credit default swaps3 | — | (8,463,078) |
$1,828,737 | $(11,212,227) |
1 | Reflects cumulative appreciation/depreciation on futures as disclosed in Fund's investments. Only the period end variation margin is separately disclosed on the Statement of assets and liabilities. |
2 | Purchased options are included in Fund's investments. |
3 | Reflects cumulative value of swap contracts. Receivable/payable for centrally cleared swaps, which includes value and margin, are shown separately on the Statement of assets and liabilities. |
Statement of operations location - Net realized gain (loss) on: | ||||
Risk | Futures contracts | Forward
foreign currency contracts |
Swap contracts | Total |
Interest rate | $(6,816,396) | — | $4,797 | $(6,811,599) |
Currency | — | $(587,585) | — | (587,585) |
Credit | — | — | (2,328,924) | (2,328,924) |
Total | $(6,816,396) | $(587,585) | $(2,324,127) | $(9,728,108) |
SEMIANNUAL REPORT | JOHN HANCOCK Short Duration Credit Opportunities Fund | 63 |
Statement of operations location - Change in net unrealized appreciation (depreciation) of: | |||||
Risk | Unaffiliated
investments and translation of assets and liabilities in foreign currencies1 |
Futures contracts | Forward
foreign currency contracts |
Swap contracts | Total |
Interest rate | — | $2,402,545 | — | $(3,184) | $2,399,361 |
Currency | $(65,434) | — | $250,978 | — | 185,544 |
Credit | — | — | — | 839,296 | 839,296 |
Total | $(65,434) | $2,402,545 | $250,978 | $836,112 | $3,424,201 |
1 | Change in unrealized appreciation/depreciation associated with purchased options is included in this caption on the Statement of operations. |
64 | JOHN HANCOCK Short Duration Credit Opportunities Fund | SEMIANNUAL REPORT |
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% |
SEMIANNUAL REPORT | JOHN HANCOCK Short Duration Credit Opportunities Fund | 65 |
Class | Distribution and service fees | Transfer agent fees |
Class A | $131,306 | $53,342 |
Class C | 18,407 | 2,244 |
Class I | — | 25,111 |
Class R2 | 31 | 1 |
Class R4 | 30 | 2 |
Class R6 | — | 484 |
Total | $149,774 | $81,184 |
Borrower
or Lender |
Weighted
Average Loan Balance |
Days
Outstanding |
Weighted
Average Interest Rate |
Interest
Income (Expense) |
Lender | $4,434,880 | 4 | 1.550% | $764 |
66 | JOHN HANCOCK Short Duration Credit Opportunities Fund | SEMIANNUAL REPORT |
Six Months Ended 1-31-20 | Year Ended 7-31-19 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 5,694,441 | $54,349,115 | 29,124,465 | $274,068,707 |
Distributions reinvested | 143,912 | 1,373,720 | 293,922 | 2,764,553 |
Repurchased | (6,294,762) | (60,067,275) | (26,151,005) | (246,142,687) |
Net increase (decrease) | (456,409) | $(4,344,440) | 3,267,382 | $30,690,573 |
Class C shares | ||||
Sold | 102,675 | $981,717 | 282,031 | $2,625,288 |
Distributions reinvested | 4,760 | 45,446 | 10,495 | 98,720 |
Repurchased | (45,084) | (430,736) | (230,749) | (2,167,776) |
Net increase | 62,351 | $596,427 | 61,777 | $556,232 |
Class I shares | ||||
Sold | 1,937,043 | $18,446,831 | 2,432,520 | $22,874,522 |
Distributions reinvested | 74,509 | 710,298 | 142,342 | 1,336,777 |
Repurchased | (1,039,269) | (9,902,498) | (2,597,210) | (24,310,601) |
Net increase (decrease) | 972,283 | $9,254,631 | (22,348) | $(99,302) |
Class R2 shares1 | ||||
Repurchased | (5,155) | $(49,106) | — | — |
Net decrease | (5,155) | $(49,106) | — | — |
Class R4 shares1 | ||||
Repurchased | (5,155) | $(49,105) | — | — |
Net decrease | (5,155) | $(49,105) | — | — |
Class R6 shares | ||||
Sold | 144,358 | $1,379,211 | 334,168 | $3,131,878 |
Distributions reinvested | 14,064 | 134,255 | 31,347 | 294,714 |
Repurchased | (116,098) | (1,107,887) | (253,398) | (2,385,308) |
Net increase | 42,324 | $405,579 | 112,117 | $1,041,284 |
Class NAV shares | ||||
Sold | 1,168,878 | $11,139,501 | 4,655,528 | $43,672,987 |
Distributions reinvested | 1,318,067 | 12,583,603 | 3,448,225 | 32,429,565 |
Repurchased | (9,412,007) | (90,014,430) | (20,640,275) | (193,471,117) |
Net decrease | (6,925,062) | $(66,291,326) | (12,536,522) | $(117,368,565) |
Total net decrease | (6,314,823) | $(60,477,340) | (9,117,594) | $(85,179,778) |
SEMIANNUAL REPORT | JOHN HANCOCK Short Duration Credit Opportunities Fund | 67 |
1 | Class R2 and Class R4 shares were fully redeemed on 10-29-19. |
Fund | Affiliated Concentration |
John Hancock Funds II Multimanager Lifestyle Balanced Portfolio | 32.0% |
John Hancock Funds II Multimanager Lifestyle Growth Portfolio | 14.1% |
John Hancock Funds II Multimanager Lifestyle Moderate Portfolio | 11.3% |
John Hancock Funds II Multimanager Lifestyle Conservative Portfolio | 10.4% |
John Hancock Funds II Alternative Asset Allocation Fund | 5.1% |
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* | 92,202 | $1,851,041 | $7,165,302 | $(8,093,807) | $750 | $(549) | $7,944 | — | $922,737 |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
68 | JOHN HANCOCK Short Duration Credit Opportunities Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Short Duration Credit Opportunities Fund | 69 |
Trustees Hassell H. McClellan, Chairperson Officers Andrew G. Arnott Francis V. Knox, Jr. Charles A. Rizzo Salvatore Schiavone Christopher (Kit) Sechler |
Investment advisor John Hancock Investment Management LLC Subadvisor Stone Harbor Investment Partners LP Portfolio Managers James E. Craige Principal distributor John Hancock Investment Management Distributors LLC Custodian State Street Bank and Trust Company Transfer agent John Hancock Signature Services, Inc. Legal counsel K&L Gates LLP |
* Member of the Audit Committee
Non-Independent Trustee
The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund's holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund's Form N-PORT filings are available on our website and the SEC's website, sec.gov.
We make this information on your fund, as well as monthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
You can also contact us: | |||
800-225-5291 jhinvestments.com |
Regular mail: John Hancock Signature Services, Inc. |
Express mail: John Hancock Signature Services, Inc. |
John Hancock family of funds
DOMESTIC EQUITY FUNDS Blue Chip Growth Classic Value Disciplined Value Disciplined Value Mid Cap Equity Income Financial Industries Fundamental All Cap Core Fundamental Large Cap Core New Opportunities Regional Bank Small Cap Core Small Cap Growth Small Cap Value U.S. Global Leaders Growth U.S. Quality Growth GLOBAL AND INTERNATIONAL EQUITY FUNDS Disciplined Value International Emerging Markets Emerging Markets Equity Fundamental Global Franchise Global Equity Global Shareholder Yield Global Thematic Opportunities International Dynamic Growth International Growth International Small Company |
INCOME FUNDS Bond California Tax-Free Income Emerging Markets Debt Floating Rate Income Government Income High Yield High Yield Municipal Bond Income Investment Grade Bond Money Market Short Duration Bond Short Duration Credit Opportunities Strategic Income Opportunities Tax-Free Bond ALTERNATIVE AND SPECIALTY FUNDS Absolute Return Currency Alternative Asset Allocation Alternative Risk Premia Diversified Macro Infrastructure Multi-Asset Absolute Return Seaport Long/Short |
A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
ASSET ALLOCATION Balanced Income Allocation Multi-Index Lifetime Portfolios Multi-Index Preservation Portfolios Multimanager Lifestyle Portfolios Multimanager Lifetime Portfolios Retirement Income 2040 EXCHANGE-TRADED FUNDS John Hancock Multifactor Consumer Discretionary ETF John Hancock Multifactor Consumer Staples ETF John Hancock Multifactor Developed International ETF John Hancock Multifactor Emerging Markets ETF John Hancock Multifactor Energy ETF John Hancock Multifactor Financials ETF John Hancock Multifactor Healthcare ETF John Hancock Multifactor Industrials ETF John Hancock Multifactor Large Cap ETF John Hancock Multifactor Materials ETF John Hancock Multifactor Media and John Hancock Multifactor Mid Cap ETF John Hancock Multifactor Small Cap ETF John Hancock Multifactor Technology ETF John Hancock Multifactor Utilities ETF |
ENVIRONMENTAL, SOCIAL, AND ESG All Cap Core ESG Core Bond ESG International Equity ESG Large Cap Core CLOSED-END FUNDS Financial Opportunities Hedged Equity & Income Income Securities Trust Investors Trust Preferred Income Preferred Income II Preferred Income III Premium Dividend Tax-Advantaged Dividend Income Tax-Advantaged Global Shareholder Yield |
John Hancock Multifactor ETF shares are bought and sold at market
price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and
are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Investment Management
Distributors LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock
in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does
not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock
Multifactor ETFs.
John Hancock Investment Management
A trusted brand
John Hancock Investment Management is a premier asset manager
representing one of America's most trusted brands, with a heritage of
financial stewardship dating back to 1862. Helping our shareholders
pursue their financial goals is at the core of everything we do. It's why
we support the role of professional financial advice and operate with
the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world's best
managers, along with strong risk-adjusted returns across asset classes.
John Hancock Investment Management Distributors LLC
n Member FINRA, SIPC
200 Berkeley Street
n Boston, MA 02116-5010
n 800-225-5291
n jhinvestments.com
This report is for the information of the shareholders of John Hancock Short Duration Credit Opportunities Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF1078052 | 350SA 1/20 3/2020 |
John Hancock
Absolute Return Currency Fund
Semiannual report
1/31/2020
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the fund's shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change, and you do not need to take any action. You may elect to receive shareholder reports and other communications electronically by calling John Hancock Investment Management at 800-225-5291 (Class A and Class C shares) or 888-972-8696 (Class I, Class R2, Class R4, Class R6, and Class NAV shares) or by contacting your financial intermediary.
You may elect to receive all reports in paper, free of charge, at any time. You can inform John Hancock Investment Management or your financial intermediary that you wish to continue receiving paper copies of your shareholder reports by following the instructions listed above. Your election to receive reports in paper will apply to all funds held with John Hancock Investment Management or your financial intermediary.
A message to shareholders
Dear shareholder,
Global financial markets delivered positive returns during the 6 months ended January 31, 2020. Stocks were particularly strong in the United States, where they delivered positive returns across most economic sectors. Investors benefited from a combination of low inflation, accommodative central bank policy, healthy fundamentals, and corporate buybacks of stock. Investors in non-U.S. equities also saw strong gains, fueled in part by similarly supportive monetary policy and some signs of strength in developing markets. In today's environment of low inflation and declining interest rates, bonds have also fared well, with U.S. corporate bonds delivering positive returns.
After a strong period of positive returnsin a historically long bull marketinvestors are prudent to consider the risks to future gains. Growth has slowed in the United States, with some negative data in manufacturing reflecting concerns over international trade and wavering business confidence. Additionally, the spread of the coronavirus, trade disputes, and other geopolitical tensions may continue to create uncertainty among businesses and skepticism among investors. Your financial advisor can help position your portfolio so that it's sufficiently diversified to meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I'd like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you've placed in us.
Sincerely,
Andrew G. Arnott
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO's views as of this report's period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
.
John Hancock
Absolute Return Currency Fund
INVESTMENT OBJECTIVE
The fund seeks to achieve absolute return from investments in currency markets.
AVERAGE ANNUAL TOTAL RETURNS AS OF 1/31/2020 (%)
* Formerly known as Citigroup 1-Month U.S. Treasury Bill Index
The FTSE 1-Month U.S. Treasury Bill Index is an unmanaged index representing monthly return equivalents of yield averages of the last one-month Treasury Bill issue.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower. Since-inception returns for the Morningstar fund category average are not available.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus.
TOTAL RETURNS FOR THE PERIOD ENDED
JANUARY 31, 2020
Average annual total returns (%) with maximum sales charge |
Cumulative total returns (%) with maximum sales charge |
||||||
1-year | 5-year | Since inception1 |
6-month | 5-year | Since inception1 |
||
Class A | -4.39 | 0.02 | -0.47 | -3.23 | 0.08 | -4.34 | |
Class C2 | -3.05 | -0.08 | -0.56 | -1.61 | -0.41 | -5.23 | |
Class I3 | -1.14 | 0.93 | 0.22 | -0.05 | 4.74 | 2.09 | |
Class R22,3 | -1.30 | 0.73 | -0.09 | -0.21 | 3.72 | -0.82 | |
Class R62,3 | -0.91 | 1.08 | 0.26 | -0.05 | 5.53 | 2.49 | |
Class NAV3 | -0.90 | 1.08 | 0.37 | -0.04 | 5.52 | 3.58 | |
Index | 2.12 | 1.03 | 0.57 | 0.91 | 5.27 | 5.50 |
Performance figures assume all distributions have been reinvested. Figures reflect maximum sales charges on Class A shares of 3.00% and the applicable contingent deferred sales charge (CDSC) on Class C shares. Class C shares sold within one year of purchase are subject to a 1% CDSC. Sales charges are not applicable to Class I, Class R2, Class R6, and Class NAV shares.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectuses for the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2021 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Class A | Class C | Class I | Class R2 | Class R6 | Class NAV | |
Gross (%) | 1.37 | 2.07 | 1.07 | 1.46 | 0.96 | 0.95 |
Net (%) | 1.36 | 2.06 | 1.06 | 1.45 | 0.95 | 0.94 |
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.
The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.
The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.
| Index is the FTSE 1-Month U.S. Treasury Bill Index. |
See the following page for footnotes.
This chart and table show what happened to a hypothetical $10,000 investment in John Hancock Absolute Return Currency Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in the FTSE 1-Month U.S. Treasury Bill Index.
Start date | With maximum sales charge ($) |
Without sales charge ($) |
Index ($) | |
Class C2,4 | 8-2-10 | 9,477 | 9,477 | 10,550 |
Class I3 | 8-2-10 | 10,209 | 10,209 | 10,550 |
Class R22,3 | 8-2-10 | 9,918 | 9,918 | 10,550 |
Class R62,3 | 8-2-10 | 10,249 | 10,249 | 10,550 |
Class NAV3 | 8-2-10 | 10,358 | 10,358 | 10,550 |
The FTSE 1-Month U.S. Treasury Bill Index is an unmanaged index representing monthly return equivalents of yield averages of the last one-month Treasury Bill issue.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Footnotes related to performance pages
1 | From 8-2-10. |
2 | Class C shares were first offered on 8-28-14; Class R2 shares were first offered on 3-27-15; Class R6 shares were first offered on 11-1-11. Returns prior to these dates are those of Class A shares (first offered on 8-2-10) that have not been adjusted for class-specific expenses; otherwise, returns would vary. |
3 | For certain types of investors as described in the fund's prospectuses. |
4 | The contingent deferred sales charge is not applicable. |
Your expenses |
6 | JOHN HANCOCK ABSOLUTE RETURN CURRENCY FUND | SEMIANNUAL REPORT |
Account
value on 8-1-2019 |
Ending
value on 1-31-2020 |
Expenses
paid during period ended 1-31-20201 |
Annualized
expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $ 997.50 | $ 7.03 | 1.40% |
Hypothetical example | 1,000.00 | 1,018.10 | 7.10 | 1.40% | |
Class C | Actual expenses/actual returns | 1,000.00 | 993.70 | 10.52 | 2.10% |
Hypothetical example | 1,000.00 | 1,014.60 | 10.63 | 2.10% | |
Class I | Actual expenses/actual returns | 1,000.00 | 999.50 | 5.53 | 1.10% |
Hypothetical example | 1,000.00 | 1,019.60 | 5.58 | 1.10% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 997.90 | 6.63 | 1.32% |
Hypothetical example | 1,000.00 | 1,018.50 | 6.70 | 1.32% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 999.50 | 4.98 | 0.99% |
Hypothetical example | 1,000.00 | 1,020.20 | 5.03 | 0.99% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 999.60 | 4.93 | 0.98% |
Hypothetical example | 1,000.00 | 1,020.20 | 4.98 | 0.98% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half year period). |
SEMIANNUAL REPORT | JOHN HANCOCK ABSOLUTE RETURN CURRENCY FUND | 7 |
Fund’s investments |
Yield* (%) | Maturity date | Par value^ | Value | ||
Short-term investments 101.6% | $514,342,627 | ||||
(Cost $514,312,257) | |||||
U.S. Government 91.1% | 461,125,484 | ||||
U.S. Treasury Bill (A) | 1.450 | 02-27-20 | 245,000,000 | 244,759,762 | |
U.S. Treasury Bill | 1.520 | 04-23-20 | 167,000,000 | 166,431,582 | |
U.S. Treasury Bill (A) | 1.530 | 03-05-20 | 50,000,000 | 49,934,140 |
Yield (%) | Shares | Value | |||
Short-term funds 10.5% | 53,217,143 | ||||
State Street Institutional Treasury Plus Money Market Fund, Premier Class | 1.5156(B) | 53,217,143 | 53,217,143 |
Total investments (Cost $514,312,257) 101.6% | $514,342,627 | ||||
Other assets and liabilities, net (1.6%) | (8,011,958) | ||||
Total net assets 100.0% | $506,330,669 |
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 segregated at the custodian as collateral for certain derivatives. |
(B) | The rate shown is the annualized seven-day yield as of 1-31-20. |
* | Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end. |
8 | JOHN HANCOCK ABSOLUTE RETURN CURRENCY FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Contract to buy | Contract to sell | Counterparty (OTC) | Contractual
settlement date |
Unrealized
appreciation |
Unrealized
depreciation | ||
AUD | 395,389,274 | USD | 270,333,315 | CITI | 3/18/2020 | — | $(5,452,579) |
AUD | 395,389,274 | USD | 270,342,105 | DB | 3/18/2020 | — | (5,461,370) |
AUD | 395,389,274 | USD | 270,560,517 | MSCS | 3/18/2020 | — | (5,679,781) |
CAD | 169,530,473 | USD | 129,136,203 | CITI | 3/18/2020 | — | (1,038,858) |
CAD | 169,530,473 | USD | 129,151,328 | DB | 3/18/2020 | — | (1,053,963) |
CAD | 169,530,473 | USD | 129,135,642 | MSCS | 3/18/2020 | — | (1,038,297) |
EUR | 218,379,864 | USD | 243,002,821 | CITI | 3/18/2020 | — | (169,397) |
EUR | 218,379,864 | USD | 245,483,800 | DB | 3/18/2020 | — | (2,650,375) |
EUR | 218,379,864 | USD | 243,855,526 | MSCS | 3/18/2020 | — | (1,022,102) |
GBP | 131,976,536 | USD | 173,160,433 | CITI | 3/18/2020 | $1,314,652 | — |
GBP | 131,976,536 | USD | 173,289,635 | DB | 3/18/2020 | 1,185,450 | — |
GBP | 131,976,536 | USD | 173,217,407 | MSCS | 3/18/2020 | 1,257,678 | — |
JPY | 9,329,957,386 | USD | 86,065,387 | CITI | 3/18/2020 | 239,329 | — |
JPY | 9,329,957,386 | USD | 86,065,440 | DB | 3/18/2020 | 239,275 | — |
JPY | 9,329,957,386 | USD | 86,059,708 | MSCS | 3/18/2020 | 245,007 | — |
NOK | 1,820,228,065 | USD | 201,813,750 | CITI | 3/18/2020 | — | (3,885,273) |
NOK | 1,820,228,065 | USD | 201,813,761 | DB | 3/18/2020 | — | (3,885,284) |
NOK | 1,820,287,372 | USD | 201,804,865 | MSCS | 3/18/2020 | — | (3,869,939) |
NZD | 219,256,777 | USD | 143,724,396 | CITI | 3/18/2020 | — | (1,919,445) |
NZD | 219,256,777 | USD | 144,915,844 | DB | 3/18/2020 | — | (3,110,893) |
NZD | 219,256,777 | USD | 143,724,178 | MSCS | 3/18/2020 | — | (1,919,227) |
SEK | 2,541,022,094 | USD | 271,719,239 | CITI | 3/18/2020 | — | (7,232,528) |
SEK | 2,541,022,094 | USD | 270,340,351 | DB | 3/18/2020 | — | (5,853,640) |
SEK | 2,541,022,094 | USD | 270,339,324 | MSCS | 3/18/2020 | — | (5,852,613) |
SGD | 191,093,755 | USD | 140,756,438 | CITI | 3/18/2020 | — | (705,546) |
SGD | 191,093,755 | USD | 140,756,260 | DB | 3/18/2020 | — | (705,368) |
SGD | 191,093,755 | USD | 140,755,742 | MSCS | 3/18/2020 | — | (704,850) |
USD | 236,178,109 | AUD | 342,586,924 | CITI | 3/18/2020 | 6,670,930 | — |
USD | 236,268,652 | AUD | 342,586,924 | DB | 3/18/2020 | 6,761,475 | — |
USD | 236,102,663 | AUD | 342,586,924 | MSCS | 3/18/2020 | 6,595,485 | — |
USD | 131,665,031 | CAD | 173,394,110 | CITI | 3/18/2020 | 648,319 | — |
USD | 131,665,132 | CAD | 173,394,110 | DB | 3/18/2020 | 648,420 | — |
USD | 131,665,631 | CAD | 173,394,110 | MSCS | 3/18/2020 | 648,919 | — |
USD | 107,683,874 | EUR | 96,420,913 | CITI | 3/18/2020 | 466,020 | — |
USD | 107,684,042 | EUR | 96,420,913 | DB | 3/18/2020 | 466,188 | — |
USD | 107,684,434 | EUR | 96,420,913 | MSCS | 3/18/2020 | 466,579 | — |
USD | 212,778,995 | GBP | 161,979,431 | CITI | 3/18/2020 | — | (1,360,395) |
USD | 212,464,119 | GBP | 161,979,431 | DB | 3/18/2020 | — | (1,675,272) |
USD | 212,503,295 | GBP | 161,979,431 | MSCS | 3/18/2020 | — | (1,636,096) |
USD | 74,781,549 | JPY | 8,135,126,957 | CITI | 3/18/2020 | — | (470,650) |
USD | 74,781,552 | JPY | 8,135,126,957 | DB | 3/18/2020 | — | (470,648) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ABSOLUTE RETURN CURRENCY FUND | 9 |
Contract to buy | Contract to sell | Counterparty (OTC) | Contractual
settlement date |
Unrealized
appreciation |
Unrealized
depreciation | ||
USD | 74,781,843 | JPY | 8,135,126,957 | MSCS | 3/18/2020 | — | $(470,357) |
USD | 336,990,023 | NOK | 3,064,469,049 | CITI | 3/18/2020 | $3,764,917 | — |
USD | 336,968,642 | NOK | 3,064,469,049 | DB | 3/18/2020 | 3,743,516 | — |
USD | 337,659,723 | NOK | 3,064,528,356 | MSCS | 3/18/2020 | 4,428,167 | — |
USD | 139,187,556 | NZD | 210,258,017 | CITI | 3/18/2020 | 3,202,580 | — |
USD | 139,251,211 | NZD | 210,258,017 | DB | 3/18/2020 | 3,266,234 | — |
USD | 139,130,306 | NZD | 210,258,017 | MSCS | 3/18/2020 | 3,145,329 | — |
USD | 131,605,277 | SEK | 1,241,196,807 | CITI | 3/18/2020 | 2,413,145 | — |
USD | 131,605,474 | SEK | 1,241,196,807 | DB | 3/18/2020 | 2,413,342 | — |
USD | 131,640,135 | SEK | 1,241,196,807 | MSCS | 3/18/2020 | 2,448,003 | — |
USD | 227,726,629 | SGD | 308,603,780 | CITI | 3/18/2020 | 1,553,698 | — |
USD | 228,077,213 | SGD | 308,603,780 | DB | 3/18/2020 | 1,904,282 | — |
USD | 227,672,323 | SGD | 308,603,780 | MSCS | 3/18/2020 | 1,499,392 | — |
$61,636,331 | $(69,294,746) |
Derivatives Currency Abbreviations | |
AUD | Australian Dollar |
CAD | Canadian Dollar |
EUR | Euro |
GBP | Pound Sterling |
JPY | Japanese Yen |
NOK | Norwegian Krone |
NZD | New Zealand Dollar |
SEK | Swedish Krona |
SGD | Singapore Dollar |
USD | U.S. Dollar |
Derivatives Abbreviations | |
CITI | Citibank, N.A. |
DB | Deutsche Bank AG |
MSCS | Morgan Stanley Capital Services LLC |
OTC | Over-the-counter |
10 | JOHN HANCOCK ABSOLUTE RETURN CURRENCY FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Financial statements |
Assets | |
Unaffiliated investments, at value (Cost $514,312,257) | $514,342,627 |
Unrealized appreciation on forward foreign currency contracts | 61,636,331 |
Interest receivable | 48,170 |
Receivable for fund shares sold | 228,850 |
Other assets | 66,512 |
Total assets | 576,322,490 |
Liabilities | |
Unrealized depreciation on forward foreign currency contracts | 69,294,746 |
Payable for fund shares repurchased | 534,595 |
Payable to affiliates | |
Transfer agent fees | 16,225 |
Distribution and service fees | 7 |
Trustees' fees | 3,295 |
Other liabilities and accrued expenses | 142,953 |
Total liabilities | 69,991,821 |
Net assets | $506,330,669 |
Net assets consist of | |
Paid-in capital | $684,430,893 |
Total distributable earnings (loss) | (178,100,224) |
Net assets | $506,330,669 |
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 ($11,905,762 ÷ 1,399,333 shares)1 | $8.51 |
Class C ($304,620 ÷ 35,847 shares)1 | $8.50 |
Class I ($143,927,908 ÷ 16,399,968 shares) | $8.78 |
Class R2 ($44,677 ÷ 5,087 shares) | $8.78 |
Class R6 ($749,543 ÷ 84,554 shares) | $8.86 |
Class NAV ($349,398,159 ÷ 39,288,781 shares) | $8.89 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 97%)2 | $8.77 |
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 $100,000. On sales of $100,000 or more and on group sales the offering price is reduced. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ABSOLUTE RETURN CURRENCY FUND | 11 |
Investment income | |
Interest | $7,600,978 |
Expenses | |
Investment management fees | 3,580,882 |
Distribution and service fees | 20,776 |
Accounting and legal services fees | 63,442 |
Transfer agent fees | 252,608 |
Trustees' fees | 9,729 |
Custodian fees | 116,366 |
State registration fees | 47,105 |
Printing and postage | 34,794 |
Professional fees | 60,387 |
Other | 22,740 |
Total expenses | 4,208,829 |
Less expense reductions | (29,818) |
Net expenses | 4,179,011 |
Net investment income | 3,421,967 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments | 30,962 |
Forward foreign currency contracts | 7,186,482 |
7,217,444 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments | (113,272) |
Forward foreign currency contracts | (9,096,473) |
(9,209,745) | |
Net realized and unrealized loss | (1,992,301) |
Increase in net assets from operations | $1,429,666 |
12 | JOHN HANCOCK ABSOLUTE RETURN CURRENCY FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Six
months ended 1-31-20 (unaudited) |
Year
ended 7-31-19 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $3,421,967 | $16,014,294 |
Net realized gain | 7,217,444 | 6,357,567 |
Change in net unrealized appreciation (depreciation) | (9,209,745) | 18,440,680 |
Increase in net assets resulting from operations | 1,429,666 | 40,812,541 |
Distributions to shareholders | ||
From earnings | ||
Class A | (333,453) | (51,210) |
Class C | (6,228) | — |
Class I | (5,217,249) | (4,347,079) |
Class R2 | (1,228) | (333) |
Class R41 | — | (275) |
Class R6 | (23,976) | (36,867) |
Class NAV | (10,496,686) | (4,065,435) |
Total distributions | (16,078,820) | (8,501,199) |
From fund share transactions | (519,018,105) | (468,800,538) |
Total decrease | (533,667,259) | (436,489,196) |
Net assets | ||
Beginning of period | 1,039,997,928 | 1,476,487,124 |
End of period | $506,330,669 | $1,039,997,928 |
1 | Class R4 shares were fully redeemed on 10-29-19. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ABSOLUTE RETURN CURRENCY FUND | 13 |
Financial highlights |
CLASS A SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $8.77 | $8.59 | $9.54 | $9.11 | $8.23 | $9.63 |
Net investment income (loss)2 | 0.02 | 0.08 | 0.01 | (0.08) | (0.10) | (0.12) |
Net realized and unrealized gain (loss) on investments | (0.04) | 0.13 | (0.96) | 0.51 | 0.98 | (0.98) |
Total from investment operations | (0.02) | 0.21 | (0.95) | 0.43 | 0.88 | (1.10) |
Less distributions | ||||||
From net investment income | (0.24) | (0.03) | — | — | — | — |
From net realized gain | — | — | — | — | — | (0.30) |
Total distributions | (0.24) | (0.03) | — | — | — | (0.30) |
Net asset value, end of period | $8.51 | $8.77 | $8.59 | $9.54 | $9.11 | $8.23 |
Total return (%)3,4 | (0.25) 5 | 2.43 | (10.05) | 4.83 | 10.56 | (11.51) |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $12 | $13 | $17 | $22 | $21 | $22 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.41 6 | 1.35 | 1.33 | 1.35 | 1.37 | 1.37 |
Expenses including reductions | 1.40 6 | 1.35 | 1.32 | 1.34 | 1.36 | 1.35 |
Net investment income (loss) | 0.47 6 | 0.92 | 0.06 | (0.83) | (1.13) | (1.29) |
Portfolio turnover (%)7 | 0 | 0 | 0 | 0 | 0 | 0 |
1 | Six months ended 1-31-20. Unaudited. |
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 | The calculation of portfolio turnover excludes amounts from securities whose maturities or expiration dates at the time of acquisition were one year or less, which represents a significant amount of the investments held by the fund. As a result, the portfolio turnover is 0%. |
14 | JOHN HANCOCK ABSOLUTE RETURN CURRENCY FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS C SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 2 |
Per share operating performance | ||||||
Net asset value, beginning of period | $8.73 | $8.58 | $9.60 | $9.23 | $8.40 | $10.01 |
Net investment income (loss)3 | (0.01) | 0.02 | (0.06) | (0.15) | (0.16) | (0.18) |
Net realized and unrealized gain (loss) on investments | (0.04) | 0.13 | (0.96) | 0.52 | 0.99 | (1.13) |
Total from investment operations | (0.05) | 0.15 | (1.02) | 0.37 | 0.83 | (1.31) |
Less distributions | ||||||
From net investment income | (0.18) | — | — | — | — | — |
From net realized gain | — | — | — | — | — | (0.30) |
Total distributions | (0.18) | — | — | — | — | (0.30) |
Net asset value, end of period | $8.50 | $8.73 | $8.58 | $9.60 | $9.23 | $8.40 |
Total return (%)4,5 | (0.63) 6 | 1.75 | (10.62) | 4.01 | 9.88 | (13.29) 6 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $— 7 | $— 7 | $1 | $1 | $1 | $— 7 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 2.11 8 | 2.05 | 2.03 | 2.05 | 2.07 | 3.04 8 |
Expenses including reductions | 2.10 8 | 2.05 | 2.02 | 2.04 | 2.06 | 2.25 8 |
Net investment income (loss) | (0.21) 8 | 0.21 | (0.67) | (1.52) | (1.81) | (2.19) 8 |
Portfolio turnover (%)9 | 0 | 0 | 0 | 0 | 0 | 0 |
1 | Six months ended 1-31-20. Unaudited. |
2 | The inception date for Class C shares is 8-28-14. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Does not reflect the effect of sales charges, if any. |
6 | Not annualized. |
7 | Less than $500,000. |
8 | Annualized. |
9 | The calculation of portfolio turnover excludes amounts from securities whose maturities or expiration dates at the time of acquisition were one year or less, which represents a significant amount of the investments held by the fund. As a result, the portfolio turnover is 0%. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ABSOLUTE RETURN CURRENCY FUND | 15 |
CLASS I SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $9.05 | $8.87 | $9.82 | $9.35 | $8.42 | $9.81 |
Net investment income (loss)2 | 0.04 | 0.11 | 0.04 | (0.05) | (0.07) | (0.09) |
Net realized and unrealized gain (loss) on investments | (0.04) | 0.13 | (0.99) | 0.52 | 1.00 | (1.00) |
Total from investment operations | — | 0.24 | (0.95) | 0.47 | 0.93 | (1.09) |
Less distributions | ||||||
From net investment income | (0.27) | (0.06) | — | — | — | — |
From net realized gain | — | — | — | — | — | (0.30) |
Total distributions | (0.27) | (0.06) | — | — | — | (0.30) |
Net asset value, end of period | $8.78 | $9.05 | $8.87 | $9.82 | $9.35 | $8.42 |
Total return (%)3 | (0.05) 4 | 2.67 | (9.77) | 5.13 | 11.05 | (11.29) |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $144 | $624 | $720 | $397 | $210 | $371 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.11 5 | 1.07 | 1.04 | 1.04 | 1.05 | 1.03 |
Expenses including reductions | 1.10 5 | 1.06 | 1.03 | 1.03 | 1.04 | 1.02 |
Net investment income (loss) | 0.83 5 | 1.21 | 0.42 | (0.49) | (0.82) | (0.96) |
Portfolio turnover (%)6 | 0 | 0 | 0 | 0 | 0 | 0 |
1 | Six months ended 1-31-20. Unaudited. |
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 | Annualized. |
6 | The calculation of portfolio turnover excludes amounts from securities whose maturities or expiration dates at the time of acquisition were one year or less, which represents a significant amount of the investments held by the fund. As a result, the portfolio turnover is 0%. |
16 | JOHN HANCOCK ABSOLUTE RETURN CURRENCY FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R2 SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 2 |
Per share operating performance | ||||||
Net asset value, beginning of period | $9.05 | $8.86 | $9.83 | $9.38 | $8.46 | $8.70 |
Net investment income (loss)3 | 0.03 | 0.09 | 0.01 | (0.07) | (0.09) | (0.03) |
Net realized and unrealized gain (loss) on investments | (0.06) | 0.14 | (0.98) | 0.52 | 1.01 | (0.21) |
Total from investment operations | (0.03) | 0.23 | (0.97) | 0.45 | 0.92 | (0.24) |
Less distributions | ||||||
From net investment income | (0.24) | (0.04) | — | — | — | — |
Net asset value, end of period | $8.78 | $9.05 | $8.86 | $9.83 | $9.38 | $8.46 |
Total return (%)4 | (0.21) 5 | 2.53 | (9.96) | 4.90 | 10.87 | (2.76) 5 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $— 6 | $— 6 | $— 6 | $— 6 | $— 6 | $— 6 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.33 7 | 1.32 | 1.27 | 1.20 | 1.23 | 1.18 7 |
Expenses including reductions | 1.32 7 | 1.31 | 1.26 | 1.20 | 1.22 | 1.16 7 |
Net investment income (loss) | 0.61 7 | 0.98 | 0.07 | (0.68) | (0.98) | (1.08) 7 |
Portfolio turnover (%)8 | 0 | 0 | 0 | 0 | 0 | 0 |
1 | Six months ended 1-31-20. Unaudited. |
2 | The inception date for Class R2 shares is 3-27-15. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Not annualized. |
6 | Less than $500,000. |
7 | Annualized. |
8 | The calculation of portfolio turnover excludes amounts from securities whose maturities or expiration dates at the time of acquisition were one year or less, which represents a significant amount of the investments held by the fund. As a result, the portfolio turnover is 0%. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ABSOLUTE RETURN CURRENCY FUND | 17 |
CLASS R6 SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $9.15 | $8.96 | $9.91 | $9.42 | $8.48 | $9.86 |
Net investment income (loss)2 | 0.04 | 0.10 | 0.05 | (0.03) | (0.06) | (0.08) |
Net realized and unrealized gain (loss) on investments | (0.05) | 0.16 | (1.00) | 0.52 | 1.00 | (1.00) |
Total from investment operations | (0.01) | 0.26 | (0.95) | 0.49 | 0.94 | (1.08) |
Less distributions | ||||||
From net investment income | (0.28) | (0.07) | — | — | — | — |
From net realized gain | — | — | — | — | — | (0.30) |
Total distributions | (0.28) | (0.07) | — | — | — | (0.30) |
Net asset value, end of period | $8.86 | $9.15 | $8.96 | $9.91 | $9.42 | $8.48 |
Total return (%)3 | (0.05) 4 | 2.87 | (9.59) | 5.20 | 11.08 | (11.13) |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $1 | $1 | $119 | $137 | $38 | $37 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.00 5 | 0.95 | 0.94 | 0.95 | 0.96 | 0.94 |
Expenses including reductions | 0.99 5 | 0.95 | 0.92 | 0.92 | 0.93 | 0.90 |
Net investment income (loss) | 0.90 5 | 1.06 | 0.48 | (0.32) | (0.71) | (0.84) |
Portfolio turnover (%)6 | 0 | 0 | 0 | 0 | 0 | 0 |
1 | Six months ended 1-31-20. Unaudited. |
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 | Annualized. |
6 | The calculation of portfolio turnover excludes amounts from securities whose maturities or expiration dates at the time of acquisition were one year or less, which represents a significant amount of the investments held by the fund. As a result, the portfolio turnover is 0%. |
18 | JOHN HANCOCK ABSOLUTE RETURN CURRENCY FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS NAV SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $9.18 | $8.99 | $9.94 | $9.45 | $8.50 | $9.89 |
Net investment income (loss)2 | 0.04 | 0.12 | 0.04 | (0.04) | (0.06) | (0.08) |
Net realized and unrealized gain (loss) on investments | (0.05) | 0.14 | (0.99) | 0.53 | 1.01 | (1.01) |
Total from investment operations | (0.01) | 0.26 | (0.95) | 0.49 | 0.95 | (1.09) |
Less distributions | ||||||
From net investment income | (0.28) | (0.07) | — | — | — | — |
From net realized gain | — | — | — | — | — | (0.30) |
Total distributions | (0.28) | (0.07) | — | — | — | (0.30) |
Net asset value, end of period | $8.89 | $9.18 | $8.99 | $9.94 | $9.45 | $8.50 |
Total return (%)3 | (0.04) 4 | 2.85 | (9.56) | 5.19 | 11.05 | (11.10) |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $349 | $401 | $620 | $860 | $779 | $886 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.99 5 | 0.94 | 0.92 | 0.93 | 0.94 | 0.91 |
Expenses including reductions | 0.98 5 | 0.93 | 0.92 | 0.92 | 0.93 | 0.90 |
Net investment income (loss) | 0.90 5 | 1.33 | 0.47 | (0.41) | (0.71) | (0.84) |
Portfolio turnover (%)6 | 0 | 0 | 0 | 0 | 0 | 0 |
1 | Six months ended 1-31-20. Unaudited. |
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 | Annualized. |
6 | The calculation of portfolio turnover excludes amounts from securities whose maturities or expiration dates at the time of acquisition were one year or less, which represents a significant amount of the investments held by the fund. As a result, the portfolio turnover is 0%. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ABSOLUTE RETURN CURRENCY FUND | 19 |
Notes to financial statements (unaudited) |
20 | JOHN HANCOCK Absolute Return Currency Fund | SEMIANNUAL REPORT |
Total
value at 1-31-20 |
Level
1 quoted price |
Level
2 significant observable inputs |
Level
3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Short-term investments | $514,342,627 | $53,217,143 | $461,125,484 | — |
Total investments in securities | $514,342,627 | $53,217,143 | $461,125,484 | — |
Derivatives: | ||||
Assets | ||||
Forward foreign currency contracts | $61,636,331 | — | $61,636,331 | — |
Liabilities | ||||
Forward foreign currency contracts | (69,294,746) | — | (69,294,746) | — |
SEMIANNUAL REPORT | JOHN HANCOCK Absolute Return Currency Fund | 21 |
22 | JOHN HANCOCK Absolute Return Currency Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Absolute Return Currency Fund | 23 |
Risk | Statement
of assets and liabilities location |
Financial
instruments location |
Assets
derivatives fair value |
Liabilities
derivatives fair value |
Currency | Unrealized appreciation / depreciation on forward foreign currency contracts | Forward foreign currency contracts | $61,636,331 | $(69,294,746) |
OTC Financial Instruments | Asset | Liability |
Forward foreign currency contracts | $61,636,331 | $(69,294,746) |
Totals | $61,636,331 | $(69,294,746) |
Counterparty | Total
Market Value of OTC Derivatives |
Collateral
Posted by Counterparty |
Collateral
Posted by Fund |
Net
Exposure |
Citibank, N.A. | $(1,961,081) | — | $1,961,081 | — |
Deutsche Bank AG | (4,238,631) | — | 4,238,631 | — |
Morgan Stanley Capital Services LLC | (1,458,703) | — | 1,458,703 | — |
Totals | $(7,658,415) | — | $7,658,415 | — |
Statement of operations location - Net realized gain (loss) on: | |
Risk | Forward
foreign currency contracts |
Currency | $7,186,482 |
Statement of operations location - Change in net unrealized appreciation (depreciation) of: | |
Risk | Forward
foreign currency contracts |
Currency | $(9,096,473) |
24 | JOHN HANCOCK Absolute Return Currency Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Absolute Return Currency Fund | 25 |
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% |
26 | JOHN HANCOCK Absolute Return Currency Fund | SEMIANNUAL REPORT |
Class | Distribution and service fees | Transfer agent fees |
Class A | $18,861 | $7,663 |
Class C | 1,788 | 218 |
Class I | — | 244,661 |
Class R2 | 99 | 4 |
Class R4 | 28 | 1 |
Class R6 | — | 61 |
Total | $20,776 | $252,608 |
Borrower
or Lender |
Weighted
Average Loan Balance |
Days
Outstanding |
Weighted
Average Interest Rate |
Interest
Income (Expense) |
Lender | $5,400,000 | 3 | 1.550% | $698 |
Six Months Ended 1-31-20 | Year Ended 7-31-19 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 101,323 | $874,381 | 287,180 | $2,526,884 |
Distributions reinvested | 39,054 | 332,737 | 5,725 | 51,184 |
Repurchased | (216,857) | (1,874,462) | (814,913) | (7,157,233) |
Net decrease | (76,480) | $(667,344) | (522,008) | $(4,579,165) |
Class C shares | ||||
Sold | 2,954 | $25,637 | 17,082 | $148,445 |
Distributions reinvested | 731 | 6,228 | — | — |
Repurchased | (17,147) | (148,048) | (49,551) | (434,067) |
Net decrease | (13,462) | $(116,183) | (32,469) | $(285,622) |
SEMIANNUAL REPORT | JOHN HANCOCK Absolute Return Currency Fund | 27 |
Six Months Ended 1-31-20 | Year Ended 7-31-19 | |||
Shares | Amount | Shares | Amount | |
Class I shares | ||||
Sold | 3,992,406 | $35,949,960 | 14,812,383 | $134,090,580 |
Distributions reinvested | 223,777 | 1,966,999 | 156,112 | 1,437,790 |
Repurchased | (56,771,280) | (514,474,211) | (27,134,695) | (246,234,464) |
Net decrease | (52,555,097) | $(476,557,252) | (12,166,200) | $(110,706,094) |
Class R2 shares | ||||
Sold | 66 | $600 | 1,080 | $9,798 |
Distributions reinvested | — | — | 17 | 154 |
Repurchased | (5,072) | (45,088) | — | — |
Net increase (decrease) | (5,006) | $(44,488) | 1,097 | $9,952 |
Class R4 shares1 | ||||
Repurchased | (5,071) | $(45,808) | — | — |
Net decrease | (5,071) | $(45,808) | — | — |
Class R6 shares | ||||
Sold | 1,632 | $14,413 | 382,242 | $3,471,676 |
Distributions reinvested | 2,703 | 23,976 | 3,907 | 36,296 |
Repurchased | (38,975) | (352,441) | (13,576,726) | (124,240,236) |
Net decrease | (34,640) | $(314,052) | (13,190,577) | $(120,732,264) |
Class NAV shares | ||||
Sold | 378,941 | $3,374,305 | 383,886 | $3,534,200 |
Distributions reinvested | 1,179,403 | 10,496,686 | 435,738 | 4,065,435 |
Repurchased | (5,979,682) | (55,143,969) | (26,057,932) | (240,106,980) |
Net decrease | (4,421,338) | $(41,272,978) | (25,238,308) | $(232,507,345) |
Total net decrease | (57,111,094) | $(519,018,105) | (51,148,465) | $(468,800,538) |
1 | Class R4 shares were fully redeemed on 10-29-19. |
28 | JOHN HANCOCK Absolute Return Currency Fund | SEMIANNUAL REPORT |
Fund | Affiliated Concentration |
John Hancock Funds II Multimanager Lifestyle Balanced Portfolio | 18.0% |
John Hancock Funds II Multimanager Lifestyle Growth Portfolio | 17.2% |
John Hancock Funds II Multimanager Lifestyle Conservative Portfolio | 7.7% |
John Hancock Funds II Multimanager Lifestyle Moderate Portfolio | 6.8% |
SEMIANNUAL REPORT | JOHN HANCOCK Absolute Return Currency Fund | 29 |
Trustees Hassell H. McClellan, Chairperson Officers Andrew G. Arnott Francis V. Knox, Jr. Charles A. Rizzo Salvatore Schiavone Christopher (Kit) Sechler |
Investment advisor John Hancock Investment Management LLC Subadvisor First Quadrant, L.P. Portfolio Managers Dori S. Levanoni Principal distributor John Hancock Investment Management Distributors LLC Custodian State Street Bank and Trust Company Transfer agent John Hancock Signature Services, Inc. Legal counsel K&L Gates LLP |
* Member of the Audit Committee
Non-Independent Trustee
The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund's holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund's Form N-PORT filings are available on our website and the SEC's website, sec.gov.
We make this information on your fund, as well as monthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
You can also contact us: | |||
800-225-5291 jhinvestments.com |
Regular mail: John Hancock Signature Services, Inc. |
Express mail: John Hancock Signature Services, Inc. |
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A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
ASSET ALLOCATION Balanced Income Allocation Multi-Index Lifetime Portfolios Multi-Index Preservation Portfolios Multimanager Lifestyle Portfolios Multimanager Lifetime Portfolios Retirement Income 2040 EXCHANGE-TRADED FUNDS John Hancock Multifactor Consumer Discretionary ETF John Hancock Multifactor Consumer Staples ETF John Hancock Multifactor Developed International ETF John Hancock Multifactor Emerging Markets ETF John Hancock Multifactor Energy ETF John Hancock Multifactor Financials ETF John Hancock Multifactor Healthcare ETF John Hancock Multifactor Industrials ETF John Hancock Multifactor Large Cap ETF John Hancock Multifactor Materials ETF John Hancock Multifactor Media and John Hancock Multifactor Mid Cap ETF John Hancock Multifactor Small Cap ETF John Hancock Multifactor Technology ETF John Hancock Multifactor Utilities ETF |
ENVIRONMENTAL, SOCIAL, AND ESG All Cap Core ESG Core Bond ESG International Equity ESG Large Cap Core CLOSED-END FUNDS Financial Opportunities Hedged Equity & Income Income Securities Trust Investors Trust Preferred Income Preferred Income II Preferred Income III Premium Dividend Tax-Advantaged Dividend Income Tax-Advantaged Global Shareholder Yield |
John Hancock Multifactor ETF shares are bought and sold at market
price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and
are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Investment Management
Distributors LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock
in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does
not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock
Multifactor ETFs.
John Hancock Investment Management
A trusted brand
John Hancock Investment Management is a premier asset manager
representing one of America's most trusted brands, with a heritage of
financial stewardship dating back to 1862. Helping our shareholders
pursue their financial goals is at the core of everything we do. It's why
we support the role of professional financial advice and operate with
the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world's best
managers, along with strong risk-adjusted returns across asset classes.
John Hancock Investment Management Distributors LLC
n Member FINRA, SIPC
200 Berkeley Street
n Boston, MA 02116-5010
n 800-225-5291
n jhinvestments.com
This report is for the information of the shareholders of John Hancock Absolute Return Currency Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF1078033 | 364SA 1/20 3/2020 |
John Hancock
Fundamental All Cap Core Fund
Semiannual report
1/31/2020
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the fund's shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change, and you do not need to take any action. You may elect to receive shareholder reports and other communications electronically by calling John Hancock Investment Management at 800-225-5291 (Class A and Class C shares) or 888-972-8696 (Class I, Class R2, Class R4, and Class R6 shares) or by contacting your financial intermediary.
You may elect to receive all reports in paper, free of charge, at any time. You can inform John Hancock Investment Management or your financial intermediary that you wish to continue receiving paper copies of your shareholder reports by following the instructions listed above. Your election to receive reports in paper will apply to all funds held with John Hancock Investment Management or your financial intermediary.
A message to shareholders
Dear shareholder,
Global financial markets delivered positive returns during the 6 months ended January 31, 2020. Stocks were particularly strong in the United States, where they delivered positive returns across most economic sectors. Investors benefited from a combination of low inflation, accommodative central bank policy, healthy fundamentals, and corporate buybacks of stock. Investors in non-U.S. equities also saw strong gains, fueled in part by similarly supportive monetary policy and some signs of strength in developing markets.
After a strong period of positive returnsin a historically long bull marketinvestors are prudent to consider the risks to future gains. Growth has slowed in the United States, with some negative data in manufacturing reflecting concerns over international trade and wavering business confidence. Additionally, the spread of the coronavirus, trade disputes, and other geopolitical tensions may continue to create uncertainty among businesses and skepticism among investors. Your financial advisor can help position your portfolio so that it's sufficiently diversified to meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I'd like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you've placed in us.
Sincerely,
Andrew G. Arnott
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO's views as of this report's period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
Fundamental All Cap Core Fund
INVESTMENT OBJECTIVE
The fund seeks long-term capital appreciation.
AVERAGE ANNUAL TOTAL RETURNS AS OF 1/31/2020 (%)
The Russell 3000 Index is an unmanaged index of the 3,000 largest U.S. companies based on total market capitalization, which represents approximately 98% of the investable U.S. equity market.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower. Since-inception returns for the Morningstar fund category average are not available.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus.
SECTOR COMPOSITION AS OF
1/31/2020 (%)
TOP 10 HOLDINGS AS OF 1/31/2020 (%)
Amazon.com, Inc. | 8.6 |
Apple, Inc. | 6.7 |
Facebook, Inc., Class A | 5.6 |
Alphabet, Inc., Class A | 4.9 |
Citigroup, Inc. | 4.7 |
Lennar Corp., A Shares | 4.1 |
Bank of America Corp. | 3.9 |
Morgan Stanley | 3.5 |
Liberty Media Corp.-Liberty Formula One, Series C | 3.1 |
Cheniere Energy, Inc. | 2.7 |
TOTAL | 47.8 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
A note about risks
The fund is subject to various risks as described in the fund's prospectus. For more information, please refer to the "Principal risks" section of the prospectus.
TOTAL RETURNS FOR THE PERIOD ENDED
JANUARY 31, 2020
Average annual total returns (%) with maximum sales charge |
Cumulative total returns (%) with maximum sales charge |
||||||
1-year | 5-year | Since inception1 |
6-month | 5-year | Since inception1 |
||
Class A | 14.09 | 10.66 | 11.72 | 3.06 | 65.97 | 161.43 | |
Class C3 | 18.31 | 11.03 | 11.88 | 7.11 | 68.75 | 164.70 | |
Class I2 | 20.48 | 12.15 | 12.78 | 8.57 | 77.40 | 183.64 | |
Class R22,3 | 19.95 | 11.84 | 12.40 | 8.37 | 74.98 | 175.62 | |
Class R42,3 | 20.39 | 12.05 | 12.52 | 8.58 | 76.61 | 178.18 | |
Class R62,3 | 20.64 | 12.25 | 12.64 | 8.67 | 78.21 | 180.71 | |
Index | 20.53 | 11.85 | 12.50 | 8.63 | 75.03 | 177.78 |
Performance figures assume all distributions have been reinvested. Figures reflect maximum sales charges on Class A shares of 5.00% and the applicable contingent deferred sales charge (CDSC) on Class C shares. Class C shares sold within one year of purchase are subject to a 1% CDSC. Sales charges are not applicable to Class I, Class R2, Class R4, and Class R6 shares.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until November 30, 2020 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Class A | Class C | Class I | Class R2 | Class R4 | Class R6 | ||
Gross (%) | 1.37 | 2.07 | 1.07 | 1.46 | 1.31 | 0.96 | |
Net (%) | 1.26 | 1.96 | 0.96 | 1.35 | 1.10 | 0.85 |
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.
The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.
The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.
| Index is the Russell 3000 Index. |
See the following page for footnotes.
This chart and table show what happened to a hypothetical $10,000 investment in John Hancock Fundamental All Cap Core Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in the Russell 3000 Index.
Start date | With maximum sales charge ($) |
Without sales charge ($) |
Index ($) | |
Class C4 | 6-1-11 | 26,470 | 26,470 | 27,778 |
Class I2 | 6-1-11 | 28,364 | 28,364 | 27,778 |
Class R22,3 | 6-1-11 | 27,562 | 27,562 | 27,778 |
Class R42,3 | 6-1-11 | 27,818 | 27,818 | 27,778 |
Class R62,3 | 6-1-11 | 28,071 | 28,071 | 27,778 |
The Russell 3000 Index is an unmanaged index of the 3,000 largest U.S. companies based on total market capitalization, which represents approximately 98% of the investable U.S. equity market.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Footnotes related to performance pages
1 | From 6-1-11. |
2 | For certain types of investors as described in the fund's prospectus. |
3 | Class C shares were first offered on 6-27-14; Class R2, Class R4 and Class R6 shares were first offered on 3-27-15. Returns prior to these dates are those of Class A shares (first offered on 6-1-11) that have not been adjusted for class-specific expenses; otherwise, returns would vary. |
4 | The contingent deferred sales charge is not applicable. |
Your expenses |
6 | JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND | SEMIANNUAL REPORT |
Account
value on 8-1-2019 |
Ending
value on 1-31-2020 |
Expenses
paid during period ended 1-31-20201 |
Annualized
expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,084.80 | $ 6.60 | 1.26% |
Hypothetical example | 1,000.00 | 1,018.80 | 6.39 | 1.26% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,081.10 | 10.25 | 1.96% |
Hypothetical example | 1,000.00 | 1,015.30 | 9.93 | 1.96% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,085.70 | 5.03 | 0.96% |
Hypothetical example | 1,000.00 | 1,020.30 | 4.88 | 0.96% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 1,083.70 | 7.12 | 1.36% |
Hypothetical example | 1,000.00 | 1,018.30 | 6.90 | 1.36% | |
Class R4 | Actual expenses/actual returns | 1,000.00 | 1,085.80 | 5.30 | 1.01% |
Hypothetical example | 1,000.00 | 1,020.10 | 5.13 | 1.01% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,086.70 | 4.46 | 0.85% |
Hypothetical example | 1,000.00 | 1,020.90 | 4.32 | 0.85% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half year period). |
SEMIANNUAL REPORT | JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND | 7 |
Fund’s investments |
Shares | Value | ||||
Common stocks 98.1% | $88,608,915 | ||||
(Cost $62,666,030) | |||||
Communication services 17.0% | 15,371,708 | ||||
Entertainment 3.1% | |||||
Liberty Media Corp.-Liberty Formula One, Series C (A) | 59,096 | 2,765,102 | |||
Interactive media and services 13.9% | |||||
Alphabet, Inc., Class A (A) | 3,094 | 4,433,021 | |||
CarGurus, Inc. (A) | 56,396 | 2,010,517 | |||
Facebook, Inc., Class A (A) | 24,989 | 5,045,529 | |||
Twitter, Inc. (A) | 34,407 | 1,117,539 | |||
Consumer discretionary 21.6% | 19,550,423 | ||||
Household durables 7.5% | |||||
Lennar Corp., A Shares | 56,400 | 3,742,704 | |||
NVR, Inc. (A) | 239 | 912,256 | |||
Tempur Sealy International, Inc. (A) | 23,348 | 2,139,144 | |||
Internet and direct marketing retail 8.6% | |||||
Amazon.com, Inc. (A) | 3,872 | 7,777,764 | |||
Leisure products 1.9% | |||||
Polaris, Inc. | 19,036 | 1,748,266 | |||
Multiline retail 0.9% | |||||
Dollar Tree, Inc. (A) | 9,759 | 849,716 | |||
Specialty retail 1.2% | |||||
Group 1 Automotive, Inc. | 10,609 | 1,069,069 | |||
Textiles, apparel and luxury goods 1.5% | |||||
Ralph Lauren Corp. | 6,447 | 731,735 | |||
Salvatore Ferragamo SpA | 31,424 | 579,769 | |||
Consumer staples 4.4% | 4,012,033 | ||||
Beverages 3.3% | |||||
Anheuser-Busch InBev SA, ADR | 28,634 | 2,156,140 | |||
Diageo PLC, ADR | 5,447 | 860,354 | |||
Food products 1.1% | |||||
The Hain Celestial Group, Inc. (A) | 41,121 | 995,539 | |||
Energy 5.8% | 5,257,832 | ||||
Energy equipment and services 1.7% | |||||
Baker Hughes Company | 50,538 | 1,094,653 | |||
National Oilwell Varco, Inc. | 22,801 | 469,929 | |||
Oil, gas and consumable fuels 4.1% | |||||
Cheniere Energy, Inc. (A) | 40,900 | 2,422,916 | |||
Kinder Morgan, Inc. | 24,948 | 520,665 |
8 | JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Energy (continued) | |||||
Oil, gas and consumable fuels (continued) | |||||
Suncor Energy, Inc. | 24,507 | $749,669 | |||
Financials 17.8% | 16,090,495 | ||||
Banks 10.6% | |||||
Bank of America Corp. | 108,188 | 3,551,812 | |||
Citigroup, Inc. | 56,579 | 4,210,043 | |||
First Hawaiian, Inc. | 61,213 | 1,778,850 | |||
Capital markets 5.6% | |||||
Morgan Stanley | 60,816 | 3,178,244 | |||
The Goldman Sachs Group, Inc. | 7,883 | 1,874,183 | |||
Consumer finance 1.6% | |||||
American Express Company | 6,149 | 798,571 | |||
Synchrony Financial | 21,561 | 698,792 | |||
Health care 4.5% | 4,012,206 | ||||
Biotechnology 2.3% | |||||
Alnylam Pharmaceuticals, Inc. (A) | 5,797 | 665,438 | |||
Amgen, Inc. | 3,797 | 820,342 | |||
Moderna, Inc. (A) | 30,103 | 617,413 | |||
Health care equipment and supplies 1.4% | |||||
Hologic, Inc. (A) | 22,881 | 1,224,591 | |||
Health care providers and services 0.8% | |||||
Anthem, Inc. | 2,580 | 684,422 | |||
Industrials 6.8% | 6,123,623 | ||||
Electrical equipment 1.6% | |||||
Regal Beloit Corp. | 8,740 | 685,740 | |||
Sensata Technologies Holding PLC (A) | 16,936 | 800,563 | |||
Industrial conglomerates 1.5% | |||||
Roper Technologies, Inc. | 3,460 | 1,320,544 | |||
Machinery 0.4% | |||||
The Manitowoc Company, Inc. (A) | 24,217 | 349,936 | |||
Professional services 2.3% | |||||
IHS Markit, Ltd. (A) | 26,286 | 2,072,914 | |||
Trading companies and distributors 1.0% | |||||
United Rentals, Inc. (A) | 6,588 | 893,926 | |||
Information technology 15.6% | 14,062,558 | ||||
Semiconductors and semiconductor equipment 1.7% | |||||
Analog Devices, Inc. | 4,609 | 505,838 | |||
NVIDIA Corp. | 4,245 | 1,003,645 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND | 9 |
Shares | Value | ||||
Information technology (continued) | |||||
Software 6.2% | |||||
Microsoft Corp. | 12,007 | $2,043,952 | |||
salesforce.com, Inc. (A) | 10,843 | 1,976,787 | |||
Workday, Inc., Class A (A) | 8,381 | 1,547,384 | |||
Technology hardware, storage and peripherals 7.7% | |||||
Apple, Inc. | 19,459 | 6,022,755 | |||
Samsung Electronics Company, Ltd. | 20,767 | 962,197 | |||
Real estate 4.6% | 4,128,037 | ||||
Equity real estate investment trusts 3.7% | |||||
American Tower Corp. | 10,290 | 2,384,605 | |||
Crown Castle International Corp. | 6,507 | 975,009 | |||
Real estate management and development 0.9% | |||||
Five Point Holdings LLC, Class A (A) | 94,750 | 768,423 | |||
Yield* (%) | Maturity date | Par value^ | Value | ||
Short-term investments 1.2% | $1,136,187 | ||||
(Cost $1,136,138) | |||||
U.S. Government Agency 0.6% | 582,000 | ||||
Federal Agricultural Mortgage Corp. Discount Note | 1.500 | 02-03-20 | 126,000 | 126,000 | |
Federal Home Loan Bank Discount Note | 1.500 | 02-03-20 | 456,000 | 456,000 |
Yield (%) | Shares | Value | |||
Short-term funds 0.0% | 19,187 | ||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 1.5121(B) | 19,187 | 19,187 |
Par value^ | Value | ||||
Repurchase agreement 0.6% | 535,000 | ||||
Barclays Tri-Party Repurchase Agreement dated 1-31-20 at 1.570% to be repurchased at $535,070 on 2-3-20, collateralized by $519,900 U.S. Treasury Notes, 2.625% due 12-31-23 (valued at $545,799) | 535,000 | 535,000 |
Total investments (Cost $63,802,168) 99.3% | $89,745,102 | ||||
Other assets and liabilities, net 0.7% | 612,720 | ||||
Total net assets 100.0% | $90,357,822 |
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 |
(A) | Non-income producing security. |
(B) | The rate shown is the annualized seven-day yield as of 1-31-20. |
10 | JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
* | Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND | 11 |
Financial statements |
Assets | |
Unaffiliated investments, at value (Cost $63,802,168) | $89,745,102 |
Foreign currency, at value (Cost $1,686) | 1,676 |
Dividends and interest receivable | 80,161 |
Receivable for fund shares sold | 569,254 |
Receivable from affiliates | 364 |
Other assets | 33,412 |
Total assets | 90,429,969 |
Liabilities | |
Payable for fund shares repurchased | 19,083 |
Payable to affiliates | |
Accounting and legal services fees | 1,596 |
Transfer agent fees | 8,121 |
Distribution and service fees | 35 |
Trustees' fees | 115 |
Other liabilities and accrued expenses | 43,197 |
Total liabilities | 72,147 |
Net assets | $90,357,822 |
Net assets consist of | |
Paid-in capital | $66,761,247 |
Total distributable earnings (loss) | 23,596,575 |
Net assets | $90,357,822 |
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 ($52,183,351 ÷ 2,599,197 shares)1 | $20.08 |
Class C ($6,299,807 ÷ 325,767 shares)1 | $19.34 |
Class I ($19,251,056 ÷ 943,596 shares) | $20.40 |
Class R2 ($76,939 ÷ 3,809 shares) | $20.20 |
Class R4 ($65,821 ÷ 3,236 shares) | $20.34 |
Class R6 ($12,480,848 ÷ 610,457 shares) | $20.45 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $21.14 |
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. |
12 | JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Investment income | |
Dividends | $523,069 |
Interest | 16,910 |
Less foreign taxes withheld | (9,004) |
Total investment income | 530,975 |
Expenses | |
Investment management fees | 297,603 |
Distribution and service fees | 104,202 |
Accounting and legal services fees | 8,386 |
Transfer agent fees | 46,246 |
Trustees' fees | 892 |
Custodian fees | 11,384 |
State registration fees | 48,338 |
Printing and postage | 13,698 |
Professional fees | 32,157 |
Other | 8,715 |
Total expenses | 571,621 |
Less expense reductions | (50,835) |
Net expenses | 520,786 |
Net investment income | 10,189 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | (1,163,005) |
(1,163,005) | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | 8,369,177 |
8,369,177 | |
Net realized and unrealized gain | 7,206,172 |
Increase in net assets from operations | $7,216,361 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND | 13 |
Six
months ended 1-31-20 (unaudited) |
Year
ended 7-31-19 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $10,189 | $83,584 |
Net realized gain (loss) | (1,163,005) | 2,022,390 |
Change in net unrealized appreciation (depreciation) | 8,369,177 | (800,956) |
Increase in net assets resulting from operations | 7,216,361 | 1,305,018 |
Distributions to shareholders | ||
From earnings | ||
Class A | (362) | (3,534,019) |
Class C | — | (472,321) |
Class I | (31,930) | (1,809,069) |
Class R2 | — | (3,456) |
Class R4 | (57) | (386) |
Class R6 | (33,272) | (959,836) |
Total distributions | (65,621) | (6,779,087) |
From fund share transactions | (5,709,127) | (3,766,980) |
Total increase (decrease) | 1,441,613 | (9,241,049) |
Net assets | ||
Beginning of period | 88,916,209 | 98,157,258 |
End of period | $90,357,822 | $88,916,209 |
14 | JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Financial highlights |
CLASS A SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $18.51 | $19.84 | $17.95 | $14.97 | $16.16 | $14.33 |
Net investment income (loss)2 | (0.01) | — 3 | (0.05) | 0.03 | — 3 | (0.04) |
Net realized and unrealized gain (loss) on investments | 1.58 | 0.12 | 3.08 | 2.97 | (0.40) | 2.27 |
Total from investment operations | 1.57 | 0.12 | 3.03 | 3.00 | (0.40) | 2.23 |
Less distributions | ||||||
From net investment income | — 3 | — | — | (0.02) | — | — |
From net realized gain | — | (1.45) | (1.14) | — | (0.79) | (0.40) |
Total distributions | — 3 | (1.45) | (1.14) | (0.02) | (0.79) | (0.40) |
Net asset value, end of period | $20.08 | $18.51 | $19.84 | $17.95 | $14.97 | $16.16 |
Total return (%)4,5 | 8.48 6 | 2.60 | 17.14 | 20.07 | (2.43) | 15.77 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $52 | $49 | $49 | $38 | $30 | $23 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.38 7 | 1.36 | 1.33 | 1.35 | 1.28 | 1.30 |
Expenses including reductions | 1.26 7 | 1.28 | 1.28 | 1.26 | 1.27 | 1.29 |
Net investment income (loss) | (0.06) 7 | 0.01 | (0.25) | 0.18 | (0.03) | (0.29) |
Portfolio turnover (%) | 11 | 21 | 23 | 52 | 40 | 42 |
1 | Six months ended 1-31-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Less than $0.005 per share. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Does not reflect the effect of sales charges, if any. |
6 | Not annualized. |
7 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND | 15 |
CLASS C SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $17.89 | $19.36 | $17.67 | $14.81 | $16.11 | $14.37 |
Net investment income (loss)2 | (0.07) | (0.12) | (0.18) | (0.09) | (0.11) | (0.16) |
Net realized and unrealized gain (loss) on investments | 1.52 | 0.10 | 3.01 | 2.95 | (0.40) | 2.30 |
Total from investment operations | 1.45 | (0.02) | 2.83 | 2.86 | (0.51) | 2.14 |
Less distributions | ||||||
From net realized gain | — | (1.45) | (1.14) | — | (0.79) | (0.40) |
Net asset value, end of period | $19.34 | $17.89 | $19.36 | $17.67 | $14.81 | $16.11 |
Total return (%)3,4 | 8.11 5 | 1.90 | 16.25 | 19.31 | (3.14) | 15.09 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $6 | $6 | $6 | $5 | $3 | $2 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 2.08 6 | 2.06 | 2.03 | 2.05 | 1.98 | 2.69 |
Expenses including reductions | 1.96 6 | 1.98 | 1.98 | 1.96 | 1.97 | 2.00 |
Net investment income (loss) | (0.76) 6 | (0.69) | (0.95) | (0.54) | (0.74) | (1.06) |
Portfolio turnover (%) | 11 | 21 | 23 | 52 | 40 | 42 |
1 | Six months ended 1-31-20. Unaudited. |
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. |
16 | JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS I SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $18.82 | $20.08 | $18.13 | $15.12 | $16.27 | $14.39 |
Net investment income (loss)2 | 0.02 | 0.06 | 0.01 | 0.07 | 0.04 | 0.01 |
Net realized and unrealized gain (loss) on investments | 1.59 | 0.13 | 3.11 | 3.01 | (0.39) | 2.29 |
Total from investment operations | 1.61 | 0.19 | 3.12 | 3.08 | (0.35) | 2.30 |
Less distributions | ||||||
From net investment income | (0.03) | — | (0.03) | (0.07) | (0.01) | (0.02) |
From net realized gain | — | (1.45) | (1.14) | — | (0.79) | (0.40) |
Total distributions | (0.03) | (1.45) | (1.17) | (0.07) | (0.80) | (0.42) |
Net asset value, end of period | $20.40 | $18.82 | $20.08 | $18.13 | $15.12 | $16.27 |
Total return (%)3 | 8.57 4 | 2.94 | 17.50 | 20.40 | (2.08) | 16.20 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $19 | $20 | $29 | $21 | $8 | $11 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.08 5 | 1.08 | 1.03 | 1.04 | 0.97 | 1.05 |
Expenses including reductions | 0.96 5 | 0.99 | 0.98 | 0.95 | 0.95 | 0.94 |
Net investment income (loss) | 0.25 5 | 0.31 | 0.03 | 0.42 | 0.27 | 0.07 |
Portfolio turnover (%) | 11 | 21 | 23 | 52 | 40 | 42 |
1 | Six months ended 1-31-20. Unaudited. |
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 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND | 17 |
CLASS R2 SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 2 |
Per share operating performance | ||||||
Net asset value, beginning of period | $18.64 | $19.98 | $18.09 | $15.09 | $16.26 | $15.12 |
Net investment income (loss)3 | (0.02) | — | (0.05) | 0.06 | 0.02 | (0.01) |
Net realized and unrealized gain (loss) on investments | 1.58 | 0.11 | 3.09 | 2.99 | (0.40) | 1.15 |
Total from investment operations | 1.56 | 0.11 | 3.04 | 3.05 | (0.38) | 1.14 |
Less distributions | ||||||
From net investment income | — | — | (0.01) | (0.05) | — | — |
From net realized gain | — | (1.45) | (1.14) | — | (0.79) | — |
Total distributions | — | (1.45) | (1.15) | (0.05) | (0.79) | — |
Net asset value, end of period | $20.20 | $18.64 | $19.98 | $18.09 | $15.09 | $16.26 |
Total return (%)4 | 8.37 5 | 2.53 | 17.09 | 20.25 | (2.28) | 7.54 5 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $— 6 | $— 6 | $— 6 | $— 6 | $— 6 | $— 6 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.48 7 | 1.46 | 1.35 | 1.20 | 1.12 | 1.10 7 |
Expenses including reductions | 1.36 7 | 1.38 | 1.30 | 1.11 | 1.11 | 1.10 7 |
Net investment income (loss) | (0.18) 7 | — | (0.28) | 0.35 | 0.13 | (0.19) 7 |
Portfolio turnover (%) | 11 | 21 | 23 | 52 | 40 | 42 8 |
1 | Six months ended 1-31-20. Unaudited. |
2 | The inception date for Class R2 shares is 3-27-15. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Not annualized. |
6 | Less than $500,000. |
7 | Annualized. |
8 | Portfolio turnover is shown for the period from 8-1-14 to 7-31-15. |
18 | JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R4 SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 2 |
Per share operating performance | ||||||
Net asset value, beginning of period | $18.75 | $20.03 | $18.11 | $15.10 | $16.27 | $15.12 |
Net investment income (loss)3 | (0.01) | 0.03 | (0.02) | 0.07 | 0.03 | (0.01) |
Net realized and unrealized gain (loss) on investments | 1.62 | 0.14 | 3.11 | 3.00 | (0.40) | 1.16 |
Total from investment operations | 1.61 | 0.17 | 3.09 | 3.07 | (0.37) | 1.15 |
Less distributions | ||||||
From net investment income | (0.02) | — | (0.03) | (0.06) | (0.01) | — |
From net realized gain | — | (1.45) | (1.14) | — | (0.79) | — |
Total distributions | (0.02) | (1.45) | (1.17) | (0.06) | (0.80) | — |
Net asset value, end of period | $20.34 | $18.75 | $20.03 | $18.11 | $15.10 | $16.27 |
Total return (%)4 | 8.58 5 | 2.84 | 17.31 | 20.42 | (2.24) | 7.61 5 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $— 6 | $— 6 | $1 | $— 6 | $— 6 | $— 6 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.23 7 | 1.31 | 1.27 | 1.19 | 1.12 | 1.10 7 |
Expenses including reductions | 1.01 7 | 1.13 | 1.12 | 1.01 | 1.01 | 1.00 7 |
Net investment income (loss) | (0.06) 7 | 0.15 | (0.12) | 0.45 | 0.23 | (0.09) 7 |
Portfolio turnover (%) | 11 | 21 | 23 | 52 | 40 | 42 8 |
1 | Six months ended 1-31-20. Unaudited. |
2 | The inception date for Class R4 shares is 3-27-15. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Not annualized. |
6 | Less than $500,000. |
7 | Annualized. |
8 | Portfolio turnover is shown for the period from 8-1-14 to 7-31-15. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND | 19 |
CLASS R6 SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 2 |
Per share operating performance | ||||||
Net asset value, beginning of period | $18.86 | $20.10 | $18.14 | $15.12 | $16.28 | $15.12 |
Net investment income (loss)3 | 0.03 | 0.07 | 0.02 | 0.09 | 0.07 | — 4 |
Net realized and unrealized gain (loss) on investments | 1.61 | 0.14 | 3.12 | 3.01 | (0.42) | 1.16 |
Total from investment operations | 1.64 | 0.21 | 3.14 | 3.10 | (0.35) | 1.16 |
Less distributions | ||||||
From net investment income | (0.05) | — | (0.04) | (0.08) | (0.02) | — |
From net realized gain | — | (1.45) | (1.14) | — | (0.79) | — |
Total distributions | (0.05) | (1.45) | (1.18) | (0.08) | (0.81) | — |
Net asset value, end of period | $20.45 | $18.86 | $20.10 | $18.14 | $15.12 | $16.28 |
Total return (%)5 | 8.67 6 | 3.04 | 17.62 | 20.59 | (2.10) | 7.67 6 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $12 | $14 | $13 | $6 | $3 | $— 7 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.97 8 | 0.96 | 0.93 | 0.95 | 0.86 | 0.85 8 |
Expenses including reductions | 0.85 8 | 0.88 | 0.88 | 0.85 | 0.84 | 0.83 8 |
Net investment income (loss) | 0.35 8 | 0.39 | 0.13 | 0.52 | 0.49 | 0.01 8 |
Portfolio turnover (%) | 11 | 21 | 23 | 52 | 40 | 42 9 |
1 | Six months ended 1-31-20. Unaudited. |
2 | The inception date for Class R6 shares is 3-27-15. |
3 | Based on average daily shares outstanding. |
4 | Less than $0.005 per share. |
5 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
6 | Not annualized. |
7 | Less than $500,000. |
8 | Annualized. |
9 | Portfolio turnover is shown for the period from 8-1-14 to 7-31-15. |
20 | JOHN HANCOCK FUNDAMENTAL ALL CAP CORE FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Notes to financial statements (unaudited) |
SEMIANNUAL REPORT | JOHN HANCOCK Fundamental All Cap Core Fund | 21 |
Total
value at 1-31-20 |
Level
1 quoted price |
Level
2 significant observable inputs |
Level
3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Communication services | $15,371,708 | $15,371,708 | — | — |
Consumer discretionary | 19,550,423 | 18,970,654 | $579,769 | — |
Consumer staples | 4,012,033 | 4,012,033 | — | — |
Energy | 5,257,832 | 5,257,832 | — | — |
Financials | 16,090,495 | 16,090,495 | — | — |
Health care | 4,012,206 | 4,012,206 | — | — |
Industrials | 6,123,623 | 6,123,623 | — | — |
Information technology | 14,062,558 | 13,100,361 | 962,197 | — |
Real estate | 4,128,037 | 4,128,037 | — | — |
Short-term investments | 1,136,187 | 19,187 | 1,117,000 | — |
Total investments in securities | $89,745,102 | $87,086,136 | $2,658,966 | — |
22 | JOHN HANCOCK Fundamental All Cap Core Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Fundamental All Cap Core Fund | 23 |
24 | JOHN HANCOCK Fundamental All Cap Core Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Fundamental All Cap Core Fund | 25 |
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% |
26 | JOHN HANCOCK Fundamental All Cap Core Fund | SEMIANNUAL REPORT |
Class | Distribution and service fees | Transfer agent fees |
Class A | $74,000 | $30,078 |
Class C | 29,965 | 3,653 |
Class I | — | 11,625 |
Class R2 | 204 | 5 |
Class R4 | 33 | 2 |
Class R6 | — | 883 |
Total | $104,202 | $46,246 |
Six Months Ended 1-31-20 | Year Ended 7-31-19 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 219,765 | $4,229,343 | 485,174 | $8,551,348 |
Distributions reinvested | 18 | 362 | 242,630 | 3,532,684 |
Repurchased | (271,006) | (5,118,664) | (541,969) | (9,643,487) |
Net increase (decrease) | (51,223) | $(888,959) | 185,835 | $2,440,545 |
SEMIANNUAL REPORT | JOHN HANCOCK Fundamental All Cap Core Fund | 27 |
Six Months Ended 1-31-20 | Year Ended 7-31-19 | |||
Shares | Amount | Shares | Amount | |
Class C shares | ||||
Sold | 38,734 | $710,007 | 80,406 | $1,391,400 |
Distributions reinvested | — | — | 33,427 | 472,321 |
Repurchased | (47,022) | (851,394) | (112,432) | (1,891,904) |
Net increase (decrease) | (8,288) | $(141,387) | 1,401 | $(28,183) |
Class I shares | ||||
Sold | 58,635 | $1,115,161 | 310,492 | $5,604,929 |
Distributions reinvested | 1,587 | 31,924 | 122,463 | 1,808,778 |
Repurchased | (180,459) | (3,414,615) | (793,473) | (14,234,036) |
Net decrease | (120,237) | $(2,267,530) | (360,518) | $(6,820,329) |
Class R2 shares | ||||
Sold | 1,356 | $24,521 | 2,017 | $36,622 |
Distributions reinvested | — | — | 208 | 3,057 |
Repurchased | (1,400) | (25,943) | (11,206) | (204,732) |
Net decrease | (44) | $(1,422) | (8,981) | $(165,053) |
Class R4 shares | ||||
Sold | 2,764 | $53,946 | 1,162 | $22,771 |
Distributions reinvested | 1 | 12 | 26 | 385 |
Repurchased | — | — | (50,283) | (906,304) |
Net increase (decrease) | 2,765 | $53,958 | (49,095) | $(883,148) |
Class R6 shares | ||||
Sold | 46,612 | $912,172 | 253,064 | $4,496,549 |
Distributions reinvested | 1,651 | 33,272 | 64,898 | 959,837 |
Repurchased | (168,367) | (3,409,231) | (233,224) | (3,767,198) |
Net increase (decrease) | (120,104) | $(2,463,787) | 84,738 | $1,689,188 |
Total net decrease | (297,131) | $(5,709,127) | (146,620) | $(3,766,980) |
28 | JOHN HANCOCK Fundamental All Cap Core Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Fundamental All Cap Core Fund | 29 |
Trustees Hassell H. McClellan, Chairperson Officers Andrew G. Arnott Francis V. Knox, Jr. Charles A. Rizzo Salvatore Schiavone Christopher (Kit) Sechler |
Investment advisor John Hancock Investment Management LLC Subadvisor Manulife Investment Management (US) LLC Portfolio Managers Emory W. (Sandy) Sanders, Jr., CFA Principal distributor John Hancock Investment Management Distributors LLC Custodian State Street Bank and Trust Company Transfer agent John Hancock Signature Services, Inc. Legal counsel K&L Gates LLP |
* Member of the Audit Committee
Non-Independent Trustee
The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund's holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund's Form N-PORT filings are available on our website and the SEC's website, sec.gov.
We make this information on your fund, as well as monthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
You can also contact us: | |||
800-225-5291 jhinvestments.com |
Regular mail: John Hancock Signature Services, Inc. |
Express mail: John Hancock Signature Services, Inc. |
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John Hancock Multifactor ETF shares are bought and sold at market
price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and
are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Investment Management
Distributors LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock
in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does
not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock
Multifactor ETFs.
John Hancock Investment Management
A trusted brand
John Hancock Investment Management is a premier asset manager
representing one of America's most trusted brands, with a heritage of
financial stewardship dating back to 1862. Helping our shareholders
pursue their financial goals is at the core of everything we do. It's why
we support the role of professional financial advice and operate with
the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world's best
managers, along with strong risk-adjusted returns across asset classes.
John Hancock Investment Management Distributors LLC
n Member FINRA, SIPC
200 Berkeley Street
n Boston, MA 02116-5010
n 800-225-5291
n jhinvestments.com
This report is for the information of the shareholders of John Hancock Fundamental All Cap Core Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF1078038 | 376SA 1/20 3/2020 |
John Hancock
Diversified Strategies Fund
Semiannual report
1/31/2020
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the fund's shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change, and you do not need to take any action. You may elect to receive shareholder reports and other communications electronically by calling John Hancock Investment Management at 800-225-5291 (Class A shares) or 888-972-8696 (Class I shares) or by contacting your financial intermediary.
You may elect to receive all reports in paper, free of charge, at any time. You can inform John Hancock Investment Management or your financial intermediary that you wish to continue receiving paper copies of your shareholder reports by following the instructions listed above. Your election to receive reports in paper will apply to all funds held with John Hancock Investment Management or your financial intermediary.
A message to shareholders
Dear shareholder,
Global financial markets delivered positive returns during the 6 months ended January 31, 2020. Stocks were particularly strong in the United States, where they delivered positive returns across most economic sectors. Investors benefited from a combination of low inflation, accommodative central bank policy, healthy fundamentals, and corporate buybacks of stock. Investors in non-U.S. equities also saw strong gains, fueled in part by similarly supportive monetary policy and some signs of strength in developing markets. In today's environment of low inflation and declining interest rates, bonds have also fared well, with U.S. corporate bonds delivering positive returns.
After a strong period of positive returnsin a historically long bull marketinvestors are prudent to consider the risks to future gains. Growth has slowed in the United States, with some negative data in manufacturing reflecting concerns over international trade and wavering business confidence. Additionally, the spread of the coronavirus, trade disputes, and other geopolitical tensions may continue to create uncertainty among businesses and skepticism among investors. Your financial advisor can help position your portfolio so that it's sufficiently diversified to meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I'd like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you've placed in us.
Sincerely,
Andrew G. Arnott
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO's views as of this report's period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
Diversified Strategies Fund
INVESTMENT OBJECTIVE
The fund seeks long-term total return.
AVERAGE ANNUAL TOTAL RETURNS AS OF 1/31/2020 (%)
The Blended Index is 70% Bloomberg Barclays U.S. Aggregate Bond Index and 30% S&P 500 Index.
The Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.
The S&P 500 Index is an unmanaged index that includes 500 widely traded common stocks.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower. Since-inception returns for the Morningstar fund category average are not available.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus.
PORTFOLIO COMPOSITION AS OF 1/31/2020 (%)
PORTFOLIO ALLOCATION AS OF 1/31/2020 (%)
Foreign government obligations | 19.8 | |
Affiliated investment companies | 2.7 | |
Unaffiliated investment companies | 2.1 | |
Purchased options | 1.9 | |
Short-term investments and other | 73.5 | |
Commercial paper | 48.9 | |
U.S. Government | 18.6 | |
Short-term funds | 1.8 | |
Other assets and liabilities, net | 4.2 | |
TOTAL | 100.0 | |
As a percentage of net assets. |
A note about risks
The fund is subject to various risks as described in the fund's prospectus. For more information, please refer to the "Principal risks" section of the prospectus.
TOTAL RETURNS FOR THE PERIOD ENDED
JANUARY 31, 2020
Average annual total returns (%) with maximum sales charge |
Cumulative total returns (%) with maximum sales charge |
||||||
1-year | 5-year | Since inception1 |
6-month | 5-year | Since inception1 |
||
Class A | 0.67 | 1.42 | 3.48 | -1.96 | 7.29 | 33.02 | |
Class I2 | 6.24 | 2.80 | 4.48 | 3.35 | 14.82 | 44.13 | |
Index 1 | 9.64 | 3.01 | 3.17 | 4.20 | 16.00 | 29.74 | |
Index 2 | 21.68 | 12.37 | 15.43 | 9.31 | 79.17 | 230.82 | |
Index 3 | 13.34 | 5.92 | 6.88 | 5.76 | 33.30 | 74.13 |
Performance figures assume all distributions have been reinvested. Figures reflect maximum sales charges on Class A shares of 5.00%. Sales charges are not applicable to Class I shares.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectuses for the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2021 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Class A | Class I | |
Gross (%) | 2.58 | 2.28 |
Net (%) | 2.57 | 2.27 |
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.
The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.
The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.
| Index 1 is the Bloomberg Barclays U.S. Aggregate Bond Index; Index 2 is the S&P 500 Index; Index 3 is 70% Bloomberg Barclays U.S. Aggregate Bond Index and 30% S&P 500 Index. |
See the following page for footnotes.
This chart and table show what happened to a hypothetical $10,000 investment in John Hancock Diversified Strategies Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in two separate indexes and a blended index.
Start date | With maximum sales charge ($) |
Without sales charge ($) |
Index 1 ($) | Index 2 ($) | Index 3 ($) | |
Class I2 | 9-30-11 | 14,413 | 14,413 | 12,974 | 33,082 | 17,413 |
The Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.
The S&P 500 Index is an unmanaged index that includes 500 widely traded common stocks.
The Blended Index is 70% Bloomberg Barclays U.S. Aggregate Bond Index and 30% S&P 500 Index.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Footnotes related to performance pages
1 | From 9-30-11. |
2 | For certain types of investors as described in the fund's prospectuses. |
Your expenses |
6 | JOHN HANCOCK DIVERSIFIED STRATEGIES FUND | SEMIANNUAL REPORT |
Account
value on 8-1-2019 |
Ending
value on 1-31-2020 |
Expenses
paid during period ended 1-31-20201 |
Annualized
expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,031.90 | $8.73 | 1.71% |
Hypothetical example | 1,000.00 | 1,016.50 | 8.67 | 1.71% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,033.50 | 7.16 | 1.40% |
Hypothetical example | 1,000.00 | 1,018.10 | 7.10 | 1.40% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half year period). |
SEMIANNUAL REPORT | JOHN HANCOCK DIVERSIFIED STRATEGIES FUND | 7 |
Fund’s investments |
Rate (%) | Maturity date | Par value^ | Value | ||
Foreign government obligations 19.8% | $2,081,381 | ||||
(Cost $1,953,676) | |||||
Indonesia 7.7% | 812,543 | ||||
Republic of Indonesia | |||||
Bond | 8.250 | 05-15-29 | IDR | 3,375,000,000 | 273,196 |
Bond | 8.375 | 04-15-39 | IDR | 6,750,000,000 | 539,347 |
Italy 12.1% | 1,268,838 | ||||
Republic
of Italy Bond (A) |
3.850 | 09-01-49 | EUR | 800,000 | 1,268,838 |
Shares | Value | ||||
Affiliated investment companies (B) 2.7% | $287,873 | ||||
(Cost $280,655) | |||||
Fixed income 2.7% | 287,873 | ||||
Asia Pacific Total Return Bond, Class NAV, JHF II (MIM US) (C) | 29,137 | 287,873 | |||
Unaffiliated investment companies 2.1% | $214,562 | ||||
(Cost $202,402) | |||||
Exchange-traded funds 2.1% | 214,562 | ||||
iShares JP Morgan USD Emerging Markets Bond ETF | 1,850 | 214,562 |
Contracts/Notional amount | Value | ||||
Purchased options 1.9% | $199,616 | ||||
(Cost $235,111) | |||||
Calls 0.7% | 69,636 | ||||
Exchange Traded Option on DAX Index Futures (Expiration Date: 12-18-20; Strike Price: EUR 13,400.00; Notional Amount: 20) (D) | 4 | 14,063 | |||
Exchange Traded Option on Nikkei 225 Futures (Expiration Date: 12-11-20; Strike Price: JPY 23,500.00; Notional Amount: 1,000) (D) | 1 | 7,522 | |||
Exchange Traded Option on Nikkei 225 Futures (Expiration Date: 12-11-20; Strike Price: JPY 24,000.00; Notional Amount: 1,000) (D) | 1 | 5,773 | |||
Over the Counter Option on the AUD vs. NZD (Expiration Date: 3-19-20; Strike Price: AUD 1.05; Counterparty: Bank of America N.A.) (D)(E) | 2,000,000 | 3,232 | |||
Over the Counter Option on the NOK vs. SEK (Expiration Date: 3-20-20; Strike Price: NOK 1.05; Counterparty: Citibank N.A.) (D)(E) | 20,000,000 | 16,908 |
8 | JOHN HANCOCK DIVERSIFIED STRATEGIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Contracts/Notional amount | Value | ||||
Calls (continued) | |||||
Over the Counter Option on the USD vs. SEK (Expiration Date: 2-28-20; Strike Price: $9.55; Counterparty: Goldman Sachs USA) (D)(E) | 2,000,000 | $22,138 | |||
Puts 1.2% | 129,980 | ||||
Exchange Traded Option on DAX Index Futures (Expiration Date: 12-18-20; Strike Price: EUR 13,000.00; Notional Amount: 20) (D) | 4 | 17,179 | |||
Exchange Traded Option on Nikkei 225 Futures (Expiration Date: 12-11-20; Strike Price: JPY 22,500.00; Notional Amount: 1,000) (D) | 1 | 13,936 | |||
Exchange Traded Option on Nikkei 225 Futures (Expiration Date: 12-11-20; Strike Price: JPY 23,500.00; Notional Amount: 1,000) (D) | 1 | 15,966 | |||
Over the Counter Option on the EUR vs. AUD (Expiration Date: 5-8-20; Strike Price: EUR 1.60; Counterparty: Bank of America N.A.) (D)(E) | 2,000,000 | 3,238 | |||
Over the Counter Option on the EUR vs. NOK (Expiration Date: 11-18-20; Strike Price: EUR 10.00; Counterparty: Goldman Sachs International) (D)(E) | 2,000,000 | 17,625 | |||
Over the Counter Option on the EUR vs. USD (Expiration Date: 12-18-20; Strike Price: EUR 1.10; Counterparty: JPMorgan Chase Bank N.A.) (D)(E) | 2,000,000 | 16,432 | |||
Over the Counter Option on the EUR vs. USD (Expiration Date: 4-16-20; Strike Price: EUR 1.13; Counterparty: Goldman Sachs Bank USA) (D)(E) | 1,200,000 | 23,731 | |||
Over the Counter Option on the NOK vs. SEK (Expiration Date: 5-8-20; Strike Price: NOK 10.10; Counterparty: UBS Securities LLC) (D)(E) | 2,000,000 | 14,269 | |||
Over the Counter Option on the USD vs. JPY (Expiration Date: 3-13-20; Strike Price: $108.00; Counterparty: HSBC Bank USA) (D)(E) | 1,000,000 | 7,604 | |||
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK DIVERSIFIED STRATEGIES FUND | 9 |
Yield* (%) | Maturity date | Par value^ | Value | ||
Short-term investments 69.3% | $7,280,696 | ||||
(Cost $7,280,966) | |||||
Commercial paper 48.9% | 5,142,176 | ||||
American Honda Finance Corp. | 1.700 | 02-06-20 | 400,000 | 399,893 | |
Barclays Bank PLC | 1.950 | 02-21-20 | 475,000 | 474,543 | |
CPPIB Capital, Inc. | 1.640 | 04-21-20 | 475,000 | 473,274 | |
Cummins, Inc. | 1.680 | 02-13-20 | 475,000 | 474,729 | |
Gotham Funding Corp. | 1.700 | 03-06-20 | 475,000 | 474,226 | |
Henkel of America, Inc. | 1.620 | 04-07-20 | 275,000 | 274,201 | |
John Deere Capital Corp. | 1.680 | 02-11-20 | 475,000 | 474,780 | |
Koch Indusrties, Inc. | 1.570 | 02-12-20 | 475,000 | 474,754 | |
ONE Gas, Inc. | 1.620 | 02-13-20 | 475,000 | 474,729 | |
Province of British Columbia | 1.740 | 02-05-20 | 200,000 | 199,957 | |
The Boeing Company | 2.150 | 03-09-20 | 475,000 | 474,099 | |
University of California | 1.750 | 04-02-20 | 475,000 | 472,991 | |
U.S. Government 18.6% | 1,949,925 | ||||
U.S. Treasury Bill | 1.477 | 02-04-20 | 1,950,000 | 1,949,925 |
Yield (%) | Shares | Value | |||
Short-term funds 1.8% | 188,595 | ||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 1.5121(F) | 188,595 | 188,595 |
Total investments (Cost $9,952,810) 95.8% | $10,064,128 | ||||
Other assets and liabilities, net 4.2% | 436,910 | ||||
Total net assets 100.0% | $10,501,038 |
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. | |
Currency Abbreviations | |
AUD | Australian Dollar |
EUR | Euro |
IDR | Indonesian Rupiah |
JPY | Japanese Yen |
NOK | Norwegian Krone |
NZD | New Zealand Dollar |
SEK | Swedish Krona |
Security Abbreviations and Legend | |
JHF II | John Hancock Funds II |
MIM US | Manulife Investment Management (US) LLC |
(A) | These securities are 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. Rule 144A securities amounted to $1,268,838 or 12.1% of the fund's net assets as of 1-31-20. |
(B) | The underlying funds' subadvisor is shown parenthetically. |
(C) | The subadvisor is an affiliate of the advisor. |
10 | JOHN HANCOCK DIVERSIFIED STRATEGIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
(D) | Non-income producing security. |
(E) | For this type of option, notional amounts are equivalent to number of contracts. |
(F) | The rate shown is the annualized seven-day yield as of 1-31-20. |
* | Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK DIVERSIFIED STRATEGIES FUND | 11 |
Open contracts | Number
of contracts |
Position | Expiration
date |
Notional
basis^ |
Notional
value^ |
Unrealized
appreciation (depreciation) |
10-Year U.S. Treasury Note Futures | 52 | Long | Mar 2020 | $6,794,443 | $6,846,125 | $51,682 |
CME E-mini Financial Sector Futures | 1 | Long | Mar 2020 | 95,048 | 92,138 | (2,910) |
CME E-mini Health Care Sector Futures | 1 | Long | Mar 2020 | 105,193 | 100,080 | (5,113) |
FTSE 250 Index Futures | 8 | Long | Mar 2020 | 460,982 | 445,695 | (15,287) |
German Euro BUND Futures | 12 | Long | Mar 2020 | 2,321,369 | 2,329,536 | 8,167 |
NASDAQ 100 Index E-Mini Futures | 1 | Long | Mar 2020 | 180,877 | 179,955 | (922) |
S&P 500 Index E-Mini Futures | 3 | Long | Mar 2020 | 489,907 | 483,600 | (6,307) |
Euro STOXX 50 Index Futures | 4 | Short | Mar 2020 | (167,172) | (161,433) | 5,739 |
Euro-BTP Italian Government Bond Futures | 8 | Short | Mar 2020 | (1,308,363) | (1,313,381) | (5,018) |
FTSE 100 Index Futures | 2 | Short | Mar 2020 | (190,916) | (190,614) | 302 |
U.K. Long Gilt Bond Futures | 14 | Short | Mar 2020 | (2,494,974) | (2,494,635) | 339 |
Ultra U.S. Treasury Bond Futures | 12 | Short | Mar 2020 | (2,302,342) | (2,324,250) | (21,908) |
$8,764 |
Contract to buy | Contract to sell | Counterparty (OTC) | Contractual
settlement date |
Unrealized
appreciation |
Unrealized
depreciation | ||
EUR | 1,000,000 | AUD | 1,618,685 | ANZ | 2/14/2020 | $26,001 | — |
EUR | 500,000 | AUD | 821,904 | TD | 2/14/2020 | 4,590 | — |
EUR | 500,000 | CAD | 729,034 | JPM | 2/14/2020 | 3,997 | — |
EUR | 500,000 | JPY | 60,188,600 | CITI | 2/14/2020 | — | $(907) |
EUR | 1,500,000 | JPY | 181,438,050 | TD | 2/14/2020 | — | (10,776) |
EUR | 500,000 | MXN | 10,395,670 | GSI | 2/14/2020 | 5,428 | — |
EUR | 500,000 | NOK | 4,980,371 | GSI | 2/14/2020 | 13,373 | — |
EUR | 1,000,000 | NOK | 9,899,092 | JPM | 2/14/2020 | 33,449 | — |
EUR | 375,000 | NOK | 3,712,427 | SSB | 2/14/2020 | 12,515 | — |
EUR | 1,500,000 | SEK | 15,831,224 | BOA | 2/14/2020 | 19,328 | — |
EUR | 1,500,000 | SEK | 15,837,318 | TD | 2/14/2020 | 18,694 | — |
EUR | 1,000,000 | SEK | 10,544,340 | UBS | 2/14/2020 | 13,905 | — |
EUR | 1,000,000 | USD | 1,114,826 | BOA | 2/14/2020 | — | (5,102) |
EUR | 500,000 | USD | 557,364 | BMO | 2/14/2020 | — | (2,502) |
EUR | 1,200,000 | USD | 1,334,349 | SCB | 2/14/2020 | — | (2,680) |
EUR | 500,000 | USD | 557,353 | TD | 2/14/2020 | — | (2,491) |
EUR | 2,910,000 | USD | 3,295,363 | SSB | 11/17/2020 | — | (14,408) |
GBP | 250,000 | USD | 324,686 | BARC | 2/14/2020 | 5,525 | — |
JPY | 60,168,600 | EUR | 500,000 | CITI | 2/14/2020 | 722 | — |
JPY | 61,100,150 | EUR | 500,000 | JPM | 2/14/2020 | 9,324 | — |
JPY | 120,079,900 | EUR | 1,000,000 | TD | 2/14/2020 | — | (931) |
JPY | 54,690,400 | USD | 500,000 | TD | 2/14/2020 | 5,000 | — |
MXN | 9,387,690 | USD | 500,000 | SSB | 2/14/2020 | — | (3,840) |
12 | JOHN HANCOCK DIVERSIFIED STRATEGIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Contract to buy | Contract to sell | Counterparty (OTC) | Contractual
settlement date |
Unrealized
appreciation |
Unrealized
depreciation | ||
NOK | 3,739,638 | EUR | 375,000 | MSCS | 2/14/2020 | — | $(9,556) |
NOK | 5,043,565 | EUR | 500,000 | SSB | 2/14/2020 | — | (6,502) |
NOK | 5,000,000 | SEK | 5,231,750 | HUS | 2/14/2020 | — | (86) |
NOK | 4,443,467 | USD | 500,000 | MSCS | 2/14/2020 | — | (16,886) |
NOK | 4,434,176 | USD | 500,000 | TD | 2/14/2020 | — | (17,896) |
NZD | 1,000,000 | USD | 664,278 | BARC | 2/14/2020 | — | (17,803) |
NZD | 500,000 | USD | 330,586 | MSCS | 2/14/2020 | — | (7,348) |
SEK | 15,840,306 | EUR | 1,500,000 | BARC | 2/14/2020 | — | (18,384) |
SEK | 5,278,711 | EUR | 500,000 | JPM | 2/14/2020 | — | (6,273) |
SEK | 21,110,584 | EUR | 2,000,000 | SSB | 2/14/2020 | — | (25,532) |
SEK | 15,849,335 | NOK | 15,000,000 | BARC | 2/14/2020 | $16,271 | — |
SEK | 7,205,533 | USD | 750,000 | BARC | 2/14/2020 | — | (1,166) |
SEK | 9,489,632 | USD | 1,000,000 | SSB | 2/14/2020 | — | (13,791) |
SEK | 4,729,468 | USD | 500,000 | UBS | 2/14/2020 | — | (8,491) |
USD | 500,000 | CAD | 657,811 | TD | 2/14/2020 | 2,952 | — |
USD | 2,780,152 | EUR | 2,500,000 | BOA | 2/14/2020 | 5,840 | — |
USD | 1,170,629 | EUR | 1,045,000 | MSCS | 2/27/2020 | 10,042 | — |
USD | 3,307,486 | EUR | 2,910,000 | SSB | 11/17/2020 | 26,531 | — |
USD | 324,863 | GBP | 250,000 | BOA | 2/14/2020 | — | (5,348) |
USD | 1,000,000 | HKD | 7,769,706 | RBC | 2/14/2020 | — | (208) |
USD | 3,000,000 | HKD | 23,320,102 | SSB | 2/14/2020 | — | (2,037) |
USD | 500,000 | ILS | 1,727,102 | MSCS | 2/14/2020 | — | (689) |
USD | 500,000 | JPY | 54,748,355 | MSCS | 2/14/2020 | — | (5,535) |
USD | 500,000 | MXN | 9,380,061 | BOA | 2/14/2020 | 4,244 | — |
USD | 500,000 | NOK | 4,434,680 | SCB | 2/14/2020 | 17,841 | — |
USD | 500,000 | NOK | 4,442,826 | TD | 2/14/2020 | 16,955 | — |
USD | 660,774 | NZD | 1,000,000 | BARC | 2/14/2020 | 14,300 | — |
USD | 331,006 | NZD | 500,000 | TD | 2/14/2020 | 7,769 | — |
USD | 1,000,000 | SEK | 9,502,722 | SSB | 2/14/2020 | 12,431 | — |
USD | 500,000 | SEK | 4,732,650 | TD | 2/14/2020 | 8,160 | — |
$315,187 | $(207,168) |
Options on index | ||||||||
Counterparty
(OTC)/ Exchange- traded |
Name
of issuer |
Exercise
price |
Expiration
date |
Number
of contracts |
Notional
amount |
Premium | Value | |
Calls | ||||||||
Exchange-traded | Euro STOXX 50 Index | EUR | 3,800.00 | Dec 2020 | 5 | 50 | $6,719 | $(4,084) |
Exchange-traded | S&P 500 Index | USD | 3,300.00 | Dec 2020 | 1 | 100 | 15,716 | (14,280) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK DIVERSIFIED STRATEGIES FUND | 13 |
Options on index (continued) | ||||||||
Counterparty
(OTC)/ Exchange- traded |
Name
of issuer |
Exercise
price |
Expiration
date |
Number
of contracts |
Notional
amount |
Premium | Value | |
Puts | ||||||||
Exchange-traded | Euro STOXX 50 Index | EUR | 3,700.00 | Dec 2020 | 5 | 50 | $12,014 | $(16,004) |
Exchange-traded | S&P 500 Index | USD | 3,200.00 | Dec 2020 | 1 | 100 | 17,216 | (18,370) |
$51,665 | $(52,738) |
Foreign currency options | |||||||
Description | Counterparty (OTC) | Exercise
price |
Expiration
date |
Notional
amount* |
Premium | Value | |
Calls | |||||||
Australian Dollar versus New Zealand Dollar | BOA | AUD | 1.07 | Mar 2020 | 2,000,000 | $2,806 | $(485) |
Euro versus Australian Dollar | BOA | EUR | 1.67 | May 2020 | 2,000,000 | 16,492 | (26,313) |
Euro versus Norwegian Krone | UBS | EUR | 11.00 | May 2020 | 2,000,000 | 6,321 | (1,743) |
Euro versus Norwegian Krone | GSI | EUR | 11.00 | Nov 2020 | 2,000,000 | 18,918 | (14,200) |
Euro versus U.S. Dollar | GSI | EUR | 1.20 | Apr 2020 | 1,200,000 | 17,792 | (75) |
Euro versus U.S. Dollar | JPM | EUR | 1.19 | Dec 2020 | 2,000,000 | 17,535 | (11,929) |
Norwegian Krone versus Swedish Krona | CITI | NOK | 1.08 | Mar 2020 | 20,000,000 | 4,524 | (1,890) |
U.S. Dollar versus Swedish Krona | GSI | USD | 9.75 | Feb 2020 | 2,000,000 | 2,556 | (4,924) |
$86,944 | $(61,559) | ||||||
Puts | |||||||
Euro versus Norwegian Krone | UBS | EUR | 9.85 | May 2020 | 2,000,000 | $9,148 | $(3,505) |
Euro versus Norwegian Krone | GSI | EUR | 9.70 | Nov 2020 | 2,000,000 | 15,084 | (6,381) |
Euro versus U.S. Dollar | JPM | EUR | 1.13 | Apr 2020 | 1,200,000 | 17,842 | (23,730) |
$42,074 | $(33,616) | ||||||
$129,018 | $(95,175) | ||||||
* For this type of option, notional amounts are equivalent to number of contracts. |
Derivatives Currency Abbreviations | |
AUD | Australian Dollar |
CAD | Canadian Dollar |
EUR | Euro |
GBP | Pound Sterling |
HKD | Hong Kong Dollar |
ILS | Israeli New Shekel |
JPY | Japanese Yen |
14 | JOHN HANCOCK DIVERSIFIED STRATEGIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
MXN | Mexican Peso |
NOK | Norwegian Krone |
NZD | New Zealand Dollar |
SEK | Swedish Krona |
USD | U.S. Dollar |
Derivatives Abbreviations | |
ANZ | Australia and New Zealand Banking Group Limited |
BARC | Barclays Bank PLC |
BMO | Bank of Montreal |
BOA | Bank of America, N.A. |
CITI | Citibank, N.A. |
GSI | Goldman Sachs International |
HUS | HSBC Bank USA, N.A. |
JPM | JPMorgan Chase Bank, N.A. |
MSCS | Morgan Stanley Capital Services LLC |
OTC | Over-the-counter |
RBC | Royal Bank of Canada |
SCB | Standard Chartered Bank |
SSB | State Street Bank and Trust Company |
TD | The Toronto-Dominion Bank |
UBS | UBS AG |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK DIVERSIFIED STRATEGIES FUND | 15 |
Financial statements |
Assets | |
Unaffiliated investments, at value (Cost $9,672,155) | $9,776,255 |
Affiliated investments, at value (Cost $280,655) | 287,873 |
Total investments, at value (Cost $9,952,810) | 10,064,128 |
Unrealized appreciation on forward foreign currency contracts | 315,187 |
Receivable for futures variation margin | 5,572 |
Foreign currency, at value (Cost $100,309) | 100,657 |
Collateral held at broker for futures contracts | 250,000 |
Collateral held at broker for exchange-traded derivatives | 175,000 |
Dividends and interest receivable | 29,242 |
Receivable for investments sold | 45,004 |
Receivable from affiliates | 269 |
Other assets | 2,017 |
Total assets | 10,987,076 |
Liabilities | |
Unrealized depreciation on forward foreign currency contracts | 207,168 |
Written options, at value (Premiums received $180,683) | 147,913 |
Due to custodian | 32,933 |
Payable for investments purchased | 43,806 |
Payable to affiliates | |
Accounting and legal services fees | 161 |
Transfer agent fees | 1,053 |
Trustees' fees | 25 |
Other liabilities and accrued expenses | 52,979 |
Total liabilities | 486,038 |
Net assets | $10,501,038 |
Net assets consist of | |
Paid-in capital | $10,154,043 |
Total distributable earnings (loss) | 346,995 |
Net assets | $10,501,038 |
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 ($5,147,618 ÷ 630,459 shares)1 | $8.16 |
Class I ($5,353,420 ÷ 650,846 shares) | $8.23 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $8.59 |
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. |
16 | JOHN HANCOCK DIVERSIFIED STRATEGIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Investment income | |
Interest | $107,891 |
Income distributions received from affiliated investments | 10,821 |
Dividends | 5,665 |
Less foreign taxes withheld | (10,271) |
Total investment income | 114,106 |
Expenses | |
Investment management fees | 52,018 |
Distribution and service fees | 7,582 |
Accounting and legal services fees | 951 |
Transfer agent fees | 6,341 |
Trustees' fees | 164 |
Custodian fees | 29,084 |
Printing and postage | 9,706 |
Professional fees | 22,996 |
Other | 9,861 |
Total expenses | 138,703 |
Less expense reductions | (58,052) |
Net expenses | 80,651 |
Net investment income | 33,455 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | (287,236) |
Affiliated investments | 98 |
Futures contracts | 130,029 |
Forward foreign currency contracts | 227,333 |
Written options | 111,985 |
Swap contracts | (28,862) |
153,347 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | 105,429 |
Affiliated investments | (2,470) |
Futures contracts | 1,308 |
Forward foreign currency contracts | 108,010 |
Written options | (24,667) |
187,610 | |
Net realized and unrealized gain | 340,957 |
Increase in net assets from operations | $374,412 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK DIVERSIFIED STRATEGIES FUND | 17 |
Six
months ended 1-31-20 (unaudited) |
Year
ended 7-31-19 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $33,455 | $80,472 |
Net realized gain | 153,347 | 40,598 |
Change in net unrealized appreciation (depreciation) | 187,610 | 16,178 |
Increase in net assets resulting from operations | 374,412 | 137,248 |
Distributions to shareholders | ||
From earnings | ||
Class A | (52,194) | (1,082,050) |
Class I | (71,008) | (1,230,106) |
Total distributions | (123,202) | (2,312,156) |
From fund share transactions | 8,764 | 1,902,415 |
Total increase (decrease) | 259,974 | (272,493) |
Net assets | ||
Beginning of period | 10,241,064 | 10,513,557 |
End of period | $10,501,038 | $10,241,064 |
18 | JOHN HANCOCK DIVERSIFIED STRATEGIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Financial highlights |
CLASS A SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $7.96 | $10.13 | $10.50 | $10.09 | $10.43 | $10.92 |
Net investment income2 | 0.02 | 0.05 | 0.07 | 0.12 | 0.17 | 0.21 |
Net realized and unrealized gain (loss) on investments | 0.26 | 0.01 | (0.08) | 0.45 | (0.27) | (0.10) |
Total from investment operations | 0.28 | 0.06 | (0.01) | 0.57 | (0.10) | 0.11 |
Less distributions | ||||||
From net investment income | (0.08) | — | (0.36) | (0.16) | (0.23) | (0.32) |
From net realized gain | — | (2.23) | — | — | (0.01) | (0.28) |
Total distributions | (0.08) | (2.23) | (0.36) | (0.16) | (0.24) | (0.60) |
Net asset value, end of period | $8.16 | $7.96 | $10.13 | $10.50 | $10.09 | $10.43 |
Total return (%)3,4 | 3.19 5 | 1.23 | (0.17) | 5.74 | (0.96) | 1.07 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $5 | $5 | $5 | $32 | $30 | $31 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions6 | 2.82 7 | 2.57 | 1.89 | 1.71 | 1.77 | 1.66 |
Expenses including reductions6 | 1.71 7 | 1.70 | 1.70 | 1.70 | 1.70 | 1.66 |
Net investment income | 0.48 7 | 0.63 | 0.62 | 1.22 | 1.67 | 1.93 |
Portfolio turnover (%) | 197 | 173 | 171 | 73 | 55 | 62 |
1 | Six months ended 1-31-20. Unaudited. |
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 | Ratios do not include expense indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the fund. |
7 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK DIVERSIFIED STRATEGIES FUND | 19 |
CLASS I SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $8.03 | $10.18 | $10.52 | $10.12 | $10.46 | $10.95 |
Net investment income2 | 0.03 | 0.08 | 0.05 | 0.16 | 0.20 | 0.24 |
Net realized and unrealized gain (loss) on investments | 0.28 | — 3 | — 3 | 0.43 | (0.27) | (0.10) |
Total from investment operations | 0.31 | 0.08 | 0.05 | 0.59 | (0.07) | 0.14 |
Less distributions | ||||||
From net investment income | (0.11) | — | (0.39) | (0.19) | (0.26) | (0.35) |
From net realized gain | — | (2.23) | — | — | (0.01) | (0.28) |
Total distributions | (0.11) | (2.23) | (0.39) | (0.19) | (0.27) | (0.63) |
Net asset value, end of period | $8.23 | $8.03 | $10.18 | $10.52 | $10.12 | $10.46 |
Total return (%)4 | 3.35 5 | 1.47 | 0.32 | 5.94 | (0.63) | 1.40 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $5 | $5 | $6 | $10 | $10 | $9 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions6 | 2.52 7 | 2.28 | 1.59 | 1.40 | 1.45 | 1.35 |
Expenses including reductions6 | 1.40 7 | 1.39 | 1.39 | 1.39 | 1.39 | 1.35 |
Net investment income | 0.79 7 | 0.93 | 0.66 | 1.53 | 1.98 | 2.24 |
Portfolio turnover (%) | 197 | 173 | 171 | 73 | 55 | 62 |
1 | Six months ended 1-31-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Less than $0.005 per share. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Not annualized. |
6 | Ratios do not include expense indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the fund. |
7 | Annualized. |
20 | JOHN HANCOCK DIVERSIFIED STRATEGIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Notes to financial statements (unaudited) |
SEMIANNUAL REPORT | JOHN HANCOCK Diversified Strategies Fund | 21 |
Total
value at 1-31-20 |
Level
1 quoted price |
Level
2 significant observable inputs |
Level
3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Foreign government obligations | $2,081,381 | — | $2,081,381 | — |
Affiliated investment companies | 287,873 | $287,873 | — | — |
Unaffiliated investment companies | 214,562 | 214,562 | — | — |
Purchased options | 199,616 | 58,473 | 141,143 | — |
Short-term investments | 7,280,696 | 188,595 | 7,092,101 | — |
Total investments in securities | $10,064,128 | $749,503 | $9,314,625 | — |
Derivatives: | ||||
Assets | ||||
Futures | $66,229 | $66,229 | — | — |
Forward foreign currency contracts | 315,187 | — | $315,187 | — |
Liabilities | ||||
Futures | (57,465) | (57,465) | — | — |
Forward foreign currency contracts | (207,168) | — | (207,168) | — |
Written options | (147,913) | (52,738) | (95,175) | — |
22 | JOHN HANCOCK Diversified Strategies Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Diversified Strategies Fund | 23 |
24 | JOHN HANCOCK Diversified Strategies Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Diversified Strategies Fund | 25 |
26 | JOHN HANCOCK Diversified Strategies Fund | SEMIANNUAL REPORT |
Risk | Statement
of assets and liabilities location |
Financial
instruments location |
Assets
derivatives fair value |
Liabilities
derivatives fair value |
Interest rate | Receivable/payable for futures variation margin | Futures 1 | $60,188 | $(26,926) |
Equity | Receivable/payable for futures variation margin | Futures 1 | 6,041 | (30,539) |
Currency | Unrealized appreciation / depreciation on forward foreign currency contracts | Forward foreign currency contracts | 315,187 | (207,168) |
Currency | Unaffiliated investments, at value2 | Purchased options | 125,177 | — |
Equity | Unaffiliated investments, at value2 | Purchased options | 74,439 | — |
Currency | Written options, at value | Written options | — | (95,175) |
Equity | Written options, at value | Written options | — | (52,738) |
$581,032 | $(412,546) |
1 | Reflects cumulative appreciation/depreciation on futures as disclosed in Fund's investments. Only the period end variation margin is separately disclosed on the Statement of assets and liabilities. |
2 | Purchased options are included in Fund's investments. |
SEMIANNUAL REPORT | JOHN HANCOCK Diversified Strategies Fund | 27 |
OTC Financial Instruments | Asset | Liability |
Forward foreign currency contracts | $315,187 | $(207,168) |
Purchased options | 125,177 | — |
Written options | — | (95,175) |
Totals | $440,364 | $(302,343) |
Counterparty | Total
Market Value of OTC Derivatives |
Collateral
Posted by Counterparty |
Collateral
Posted by Portfolio |
Net
Exposure |
Australia and New Zealand Banking Group Limited | $26,001 | — | — | $26,001 |
Bank of America, N.A. | (1,366) | — | — | (1,366) |
Bank of Montreal | (2,502) | — | — | (2,502) |
Barclays Bank PLC | (1,257) | — | — | (1,257) |
Citibank, N.A. | 14,833 | — | — | 14,833 |
Goldman Sachs International | (6,779) | — | — | (6,779) |
Goldman Sachs USA | 63,494 | — | — | 63,494 |
HSBC Bank USA, N.A. | 7,518 | — | — | 7,518 |
JPMorgan Chase Bank, N.A. | 21,270 | — | — | 21,270 |
Morgan Stanley Capital Services LLC | (29,972) | — | — | (29,972) |
Royal Bank of Canada | (208) | — | — | (208) |
Standard Chartered Bank | 15,161 | — | — | 15,161 |
State Street Bank and Trust Company | (14,633) | — | — | (14,633) |
The Toronto-Dominion Bank | 32,026 | — | — | 32,026 |
UBS AG | 166 | — | — | 166 |
UBS Securities LLC | 14,269 | — | — | 14,269 |
Totals | $138,021 | — | — | $138,021 |
Statement of operations location - Net realized gain (loss) on: | ||||||
Risk | Unaffiliated
investments and foreign currency transactions1 |
Futures contracts | Forward
foreign currency contracts |
Written options | Swap contracts | Total |
Interest rate | $740 | $104,542 | — | $7,704 | $(28,862) | $84,124 |
Currency | (127,565) | — | $227,333 | 52,278 | — | 152,046 |
Equity | (179,429) | 25,487 | — | 52,003 | — | (101,939) |
Total | $(306,254) | $130,029 | $227,333 | $111,985 | $(28,862) | $134,231 |
28 | JOHN HANCOCK Diversified Strategies Fund | SEMIANNUAL REPORT |
1 | Realized gain/loss associated with purchased options is included in this caption on the Statement of operations. |
Statement of operations location - Change in net unrealized appreciation (depreciation) of: | |||||
Risk | Unaffiliated
investments and translation of assets and liabilities in foreign currencies1 |
Futures contracts | Forward
foreign currency contracts |
Written options | Total |
Interest rate | $7,866 | $35,821 | — | — | $43,687 |
Currency | (8,780) | — | $108,010 | $(23,594) | 75,636 |
Equity | (794) | (34,513) | — | (1,073) | (36,380) |
Total | $(1,708) | $1,308 | $108,010 | $(24,667) | $82,943 |
1 | Change in unrealized appreciation/depreciation associated with purchased options is included in this caption on the Statement of operations. |
SEMIANNUAL REPORT | JOHN HANCOCK Diversified Strategies Fund | 29 |
Class | Expense reduction |
Class A | $28,090 |
Class I | 29,962 |
Total | $58,052 |
Class | Rule 12b-1 Fee |
Class A | 0.30% |
30 | JOHN HANCOCK Diversified Strategies Fund | SEMIANNUAL REPORT |
Class | Distribution and service fees | Transfer agent fees |
Class A | $7,582 | $3,081 |
Class I | — | 3,260 |
Total | $7,582 | $6,341 |
Six Months Ended 1-31-20 | Year Ended 7-31-19 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Distributions reinvested | 6,500 | $52,194 | 139,619 | $1,082,050 |
Net increase | 6,500 | $52,194 | 139,619 | $1,082,050 |
Class I shares | ||||
Sold | — | — | 6,568 | $51,574 |
Distributions reinvested | 8,777 | $71,008 | 157,706 | 1,230,106 |
Repurchased | (14,076) | (114,438) | (58,934) | (461,315) |
Net increase (decrease) | (5,299) | $(43,430) | 105,340 | $820,365 |
Total net increase | 1,201 | $8,764 | 244,959 | $1,902,415 |
SEMIANNUAL REPORT | JOHN HANCOCK Diversified Strategies Fund | 31 |
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 |
Asia Pacific Total Return Bond | 29,137 | $284,081 | $10,858 | $(4,694) | $98 | $(2,470) | $10,821 | — | $287,873 |
32 | JOHN HANCOCK Diversified Strategies Fund | SEMIANNUAL REPORT |
Trustees Hassell H. McClellan, Chairperson Officers Andrew G. Arnott Francis V. Knox, Jr. Charles A. Rizzo Salvatore Schiavone Christopher (Kit) Sechler |
Investment advisor John Hancock Investment Management LLC Subadvisor Manulife Investment Management (US) LLC Portfolio Managers Christopher Fellingham Principal distributor John Hancock Investment Management Distributors LLC Custodian State Street Bank and Trust Company Transfer agent John Hancock Signature Services, Inc. Legal counsel K&L Gates LLP |
* Member of the Audit Committee
Non-Independent Trustee
The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund's holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund's Form N-PORT filings are available on our website and the SEC's website, sec.gov.
We make this information on your fund, as well as monthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
You can also contact us: | |||
800-225-5291 jhinvestments.com |
Regular mail: John Hancock Signature Services, Inc. |
Express mail: John Hancock Signature Services, Inc. |
John Hancock family of funds
DOMESTIC EQUITY FUNDS Blue Chip Growth Classic Value Disciplined Value Disciplined Value Mid Cap Equity Income Financial Industries Fundamental All Cap Core Fundamental Large Cap Core New Opportunities Regional Bank Small Cap Core Small Cap Growth Small Cap Value U.S. Global Leaders Growth U.S. Quality Growth GLOBAL AND INTERNATIONAL EQUITY FUNDS Disciplined Value International Emerging Markets Emerging Markets Equity Fundamental Global Franchise Global Equity Global Shareholder Yield Global Thematic Opportunities International Dynamic Growth International Growth International Small Company |
INCOME FUNDS Bond California Tax-Free Income Emerging Markets Debt Floating Rate Income Government Income High Yield High Yield Municipal Bond Income Investment Grade Bond Money Market Short Duration Bond Short Duration Credit Opportunities Strategic Income Opportunities Tax-Free Bond ALTERNATIVE AND SPECIALTY FUNDS Absolute Return Currency Alternative Asset Allocation Alternative Risk Premia Diversified Macro Infrastructure Multi-Asset Absolute Return Seaport Long/Short |
A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
ASSET ALLOCATION Balanced Income Allocation Multi-Index Lifetime Portfolios Multi-Index Preservation Portfolios Multimanager Lifestyle Portfolios Multimanager Lifetime Portfolios Retirement Income 2040 EXCHANGE-TRADED FUNDS John Hancock Multifactor Consumer Discretionary ETF John Hancock Multifactor Consumer Staples ETF John Hancock Multifactor Developed International ETF John Hancock Multifactor Emerging Markets ETF John Hancock Multifactor Energy ETF John Hancock Multifactor Financials ETF John Hancock Multifactor Healthcare ETF John Hancock Multifactor Industrials ETF John Hancock Multifactor Large Cap ETF John Hancock Multifactor Materials ETF John Hancock Multifactor Media and John Hancock Multifactor Mid Cap ETF John Hancock Multifactor Small Cap ETF John Hancock Multifactor Technology ETF John Hancock Multifactor Utilities ETF |
ENVIRONMENTAL, SOCIAL, AND ESG All Cap Core ESG Core Bond ESG International Equity ESG Large Cap Core CLOSED-END FUNDS Financial Opportunities Hedged Equity & Income Income Securities Trust Investors Trust Preferred Income Preferred Income II Preferred Income III Premium Dividend Tax-Advantaged Dividend Income Tax-Advantaged Global Shareholder Yield |
John Hancock Multifactor ETF shares are bought and sold at market
price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and
are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Investment Management
Distributors LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock
in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does
not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock
Multifactor ETFs.
John Hancock Investment Management
A trusted brand
John Hancock Investment Management is a premier asset manager
representing one of America's most trusted brands, with a heritage of
financial stewardship dating back to 1862. Helping our shareholders
pursue their financial goals is at the core of everything we do. It's why
we support the role of professional financial advice and operate with
the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world's best
managers, along with strong risk-adjusted returns across asset classes.
John Hancock Investment Management Distributors LLC
n Member FINRA, SIPC
200 Berkeley Street
n Boston, MA 02116-5010
n 800-225-5291
n jhinvestments.com
This report is for the information of the shareholders of John Hancock Diversified Strategies Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
392SA 1/20 3/2020 |
John Hancock
Multi-Asset Absolute Return Fund
(formerly John Hancock Global Absolute Return Strategies Fund)
Semiannual report
1/31/2020
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the fund's shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change, and you do not need to take any action. You may elect to receive shareholder reports and other communications electronically by calling John Hancock Investment Management at 800-225-5291 (Class A and Class C shares) or 888-972-8696 (Class I, Class R2, Class R6, and Class NAV shares) or by contacting your financial intermediary.
You may elect to receive all reports in paper, free of charge, at any time. You can inform John Hancock Investment Management or your financial intermediary that you wish to continue receiving paper copies of your shareholder reports by following the instructions listed above. Your election to receive reports in paper will apply to all funds held with John Hancock Investment Management or your financial intermediary.
A message to shareholders
Dear shareholder,
Global financial markets delivered positive returns during the 6 months ended January 31, 2020. Stocks were particularly strong in the United States, where they delivered positive returns across most economic sectors. Investors benefited from a combination of low inflation, accommodative central bank policy, healthy fundamentals, and corporate buybacks of stock. Investors in non-U.S. equities also saw strong gains, fueled in part by similarly supportive monetary policy and some signs of strength in developing markets. In today's environment of low inflation and declining interest rates, bonds have also fared well, with U.S. corporate bonds delivering positive returns.
After a strong period of positive returnsin a historically long bull marketinvestors are prudent to consider the risks to future gains. Growth has slowed in the United States, with some negative data in manufacturing reflecting concerns over international trade and wavering business confidence. Additionally, the spread of the coronavirus, trade disputes, and other geopolitical tensions may continue to create uncertainty among businesses and skepticism among investors. Your financial advisor can help position your portfolio so that it's sufficiently diversified to meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I'd like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you've placed in us.
Sincerely,
Andrew G. Arnott
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO's views as of this report's period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
.
John Hancock
Multi-Asset Absolute Return Fund
INVESTMENT OBJECTIVE
The fund seeks long-term total return.
AVERAGE ANNUAL TOTAL RETURNS AS OF 1/31/2020 (%)
The blended index is 30% MSCI All Country World Index and 70% Bloomberg Barclays Global Aggregate Bond USD Hedged Index.
The MSCI All Country World Index tracks the performance of publicly traded large- and mid-cap stocks of companies in 23 developed markets and 23 emerging markets.
The Bloomberg Barclays Global Aggregate Bond Index UDF Hedged measures global investment grade debt from twenty-four local currency markets.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower. Since-inception returns for the Morningstar fund category average are not available.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus.
PORTFOLIO ALLOCATION AS OF 1/31/2020 (%)
Common stocks | 73.2 | |
Health care | 15.5 | |
Information technology | 14.8 | |
Consumer staples | 9.1 | |
Communication services | 8.9 | |
Financials | 6.6 | |
Consumer discretionary | 6.3 | |
Industrials | 6.0 | |
Utilities | 2.8 | |
Real estate | 1.5 | |
Energy | 0.9 | |
Materials | 0.8 | |
Corporate bonds | 11.0 | |
U.S. Government | 10.0 | |
Preferred securities | 0.1 | |
Other assets and liabilities, net | 5.7 | |
TOTAL | 100.0 | |
As a percentage of net assets. |
A note about risks
The fund is subject to various risks as described in the fund's prospectus. For more information, please refer to the "Principal risks" section of the prospectus.
TOTAL RETURNS FOR THE PERIOD ENDED
JANUARY 31, 2020
Average annual total returns (%) with maximum sales charge |
Cumulative total returns (%) with maximum sales charge |
||||||
1-year | 5-year | Since inception1 |
6-month | 5-year | Since inception1 |
||
Class A | 1.43 | -0.40 | 1.92 | -3.00 | -2.00 | 16.70 | |
Class C2 | 5.13 | -0.06 | 1.90 | 0.83 | -0.31 | 16.53 | |
Class I3 | 7.14 | 0.96 | 2.91 | 2.32 | 4.87 | 26.25 | |
Class R22,3 | 6.74 | 0.53 | 2.41 | 2.16 | 2.66 | 21.33 | |
Class R62,3 | 7.24 | 1.06 | 2.98 | 2.33 | 5.41 | 26.92 | |
Class NAV3 | 7.24 | 1.06 | 3.01 | 2.33 | 5.41 | 27.24 | |
Index 1 | 2.15 | 1.05 | 0.66 | 0.93 | 5.36 | 5.52 | |
Index 2 | 11.27 | 5.18 | 6.17 | 4.46 | 28.75 | 62.52 | |
Index 3 | 2.80 | 1.47 | 1.12 | 1.22 | 7.58 | 9.44 |
Performance figures assume all distributions have been reinvested. Figures reflect maximum sales charges on Class A shares of 5.00% and the applicable contingent deferred sales charge (CDSC) on Class C shares. Class C shares sold within one year of purchase are subject to a 1% CDSC. Sales charges are not applicable to Class I, Class R2, Class R6, and Class NAV shares.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectuses for the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2021 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Class A | Class C | Class I | Class R2 | Class R6 | Class NAV | |
Gross (%) | 1.46 | 2.16 | 1.16 | 1.55 | 1.05 | 1.04 |
Net (%) | 1.45 | 2.15 | 1.15 | 1.54 | 1.04 | 1.03 |
Please refer to the most recent prospectuses and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.
The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.
The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.
| Index 1 is The ICE Bank of America 0-3 Month U.S. Treasury Bill Index; Index 2 is 30% MSCI All Country World Index and 70% Bloomberg Barclays Global Aggregate Bond USD Hedged Index; Index 3 is The ICE Bank of America U.S. Dollar 6-Month Deposit Offered Rate Constant Maturity Index. |
See the following page for footnotes.
This chart and table show what happened to a hypothetical $10,000 investment in John Hancock Multi-Asset Absolute Return Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in two separate indexes and a blended index.
Start date | With maximum sales charge ($) |
Without sales charge ($) |
Index 1 ($) | Index 2 ($) | Index 3 ($) | |
Class C2,4 | 12-19-11 | 11,653 | 11,653 | 10,552 | 16,252 | 10,944 |
Class I3 | 12-19-11 | 12,625 | 12,625 | 10,552 | 16,252 | 10,944 |
Class R22,3 | 12-19-11 | 12,133 | 12,133 | 10,552 | 16,252 | 10,944 |
Class R62,3 | 12-19-11 | 12,692 | 12,692 | 10,552 | 16,252 | 10,944 |
Class NAV3 | 12-19-11 | 12,724 | 12,724 | 10,552 | 16,252 | 10,944 |
Prior to August 28, 2019, the fund's primary benchmark was the ICE Bank of America Merrill Lynch U.S. Dollar 6-Month Deposit Offered Rate Constant Maturity Index. Effective August 28, 2019, the fund's primary benchmark index is the ICE Bank of America Merrill Lynch 0-3 Month U.S. Treasury Bill Index.
The ICE Bank of America 0-3 Month U.S. Treasury Bill Index tracks the performance of U.S. dollar-denominated U.S. Treasury bills publicly issued in the U.S. domestic market with a remaining term to final maturity of less than three months.
The Blended Index is 30% MSCI All Country World Index and 70% Bloomberg Barclays Global Aggregate Bond USD Hedged Index.
The MSCI All Country World Index tracks the performance of publicly traded large- and mid-cap stocks of companies in 23 developed markets and 23 emerging markets.
The Bloomberg Barclays Global Aggregate Bond USD Hedged Index measures global investment grade debt from twenty-four local currency markets.
The ICE Bank of America U.S. Dollar 6-Month Deposit Offered Rate Constant Maturity Index tracks the average interest rate at which a selection of banks in London are prepared to lend to one another in U.S. dollars with a constant maturity of 6 months.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Footnotes related to performance pages
1 | From 12-19-11. |
2 | Class C shares were first offered on 8-1-12; Class R2 and Class R6 shares were first offered on 3-1-12. Returns prior to these dates are those of Class A shares (first offered on 12-19-11) that have not been adjusted for class-specific expenses; otherwise, returns would vary. |
3 | For certain types of investors as described in the fund's prospectuses. |
4 | The contingent deferred sales charge is not applicable. |
Your expenses |
SEMIANNUAL REPORT | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND | 7 |
Account
value on 8-1-2019 |
Ending
value on 1-31-2020 |
Expenses
paid during period ended 1-31-20201 |
Annualized
expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,021.10 | $ 7.87 | 1.55% |
Hypothetical example | 1,000.00 | 1,017.30 | 7.86 | 1.55% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,017.00 | 11.41 | 2.25% |
Hypothetical example | 1,000.00 | 1,013.80 | 11.39 | 2.25% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,023.20 | 6.36 | 1.25% |
Hypothetical example | 1,000.00 | 1,018.90 | 6.34 | 1.25% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 1,021.60 | 8.13 | 1.60% |
Hypothetical example | 1,000.00 | 1,017.10 | 8.11 | 1.60% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,023.30 | 5.85 | 1.15% |
Hypothetical example | 1,000.00 | 1,019.40 | 5.84 | 1.15% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 1,023.30 | 5.75 | 1.13% |
Hypothetical example | 1,000.00 | 1,019.50 | 5.74 | 1.13% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half year period). |
8 | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND | SEMIANNUAL REPORT |
Fund’s investments |
Shares | Value | ||||
Common stocks 73.2% | $402,311,918 | ||||
(Cost $380,909,783) | |||||
Australia 0.2% | 1,268,601 | ||||
Ansell, Ltd. | 9,606 | 203,044 | |||
Flight Centre Travel Group, Ltd. | 20,206 | 526,276 | |||
JB Hi-Fi, Ltd. | 16,558 | 435,442 | |||
Sonic Healthcare, Ltd. | 4,954 | 103,839 | |||
Brazil 0.1% | 651,176 | ||||
Cia de Saneamento Basico do Estado de Sao Paulo, ADR | 45,987 | 651,176 | |||
Canada 3.5% | 19,266,599 | ||||
Allied Properties Real Estate Investment Trust | 9,700 | 404,741 | |||
Atco, Ltd., Class I | 8,900 | 347,150 | |||
Badger Daylighting, Ltd. | 2,200 | 57,402 | |||
CAE, Inc. | 4,800 | 142,361 | |||
Canadian Utilities, Ltd., Class A | 13,400 | 410,080 | |||
Canadian Western Bank | 22,200 | 548,877 | |||
Cominar Real Estate Investment Trust | 16,100 | 177,253 | |||
Empire Company, Ltd., Class A | 5,300 | 122,948 | |||
IGM Financial, Inc. | 12,900 | 373,041 | |||
Laurentian Bank of Canada | 10,000 | 324,543 | |||
Metro, Inc. | 17,500 | 713,409 | |||
National Bank of Canada | 48,800 | 2,707,710 | |||
Open Text Corp. | 13,900 | 625,574 | |||
Power Corp. of Canada | 31,800 | 793,438 | |||
Power Financial Corp. | 23,500 | 609,963 | |||
Royal Bank of Canada | 34,700 | 2,742,123 | |||
TC Energy Corp. | 44,200 | 2,423,752 | |||
TELUS Corp. | 46,000 | 1,843,963 | |||
The Bank of Nova Scotia | 67,600 | 3,692,102 | |||
The North West Company, Inc. | 9,900 | 206,169 | |||
China 3.0% | 16,466,446 | ||||
China Communications Construction Company, Ltd., H Shares | 1,553,000 | 1,097,493 | |||
China Construction Bank Corp., H Shares | 2,857,000 | 2,164,282 | |||
China Longyuan Power Group Corp., Ltd., H Shares | 268,000 | 158,459 | |||
China Petroleum & Chemical Corp., H Shares | 1,904,000 | 1,002,687 | |||
China Railway Construction Corp., Ltd., H Shares | 1,040,500 | 1,015,257 | |||
China Resources Double Crane Pharmaceutical Company, Ltd., Class A | 188,180 | 368,530 | |||
China Resources Sanjiu Medical & Pharmaceutical Company, Ltd., Class A | 124,579 | 640,813 | |||
China Telecom Corp., Ltd., H Shares | 4,100,000 | 1,595,254 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND | 9 |
Shares | Value | ||||
China (continued) | |||||
ENN Energy Holdings, Ltd. | 55,700 | $647,507 | |||
Henan Shuanghui Investment & Development Company, Ltd., Class A | 69,500 | 285,029 | |||
Hengan International Group Company, Ltd. | 172,000 | 1,252,873 | |||
Huadong Medicine Company, Ltd., Class A | 202,141 | 595,617 | |||
Industrial & Commercial Bank of China, Ltd., H Shares | 4,549,000 | 3,019,505 | |||
Ping An Insurance Group Company of China, Ltd., H Shares | 56,500 | 638,894 | |||
Shanghai International Port Group Company, Ltd., Class A | 483,899 | 355,213 | |||
Sinopharm Group Company, Ltd., H Shares | 460,400 | 1,498,109 | |||
Tianhe Chemicals Group, Ltd. (A)(B)(C) | 4,848,409 | 36,519 | |||
Tong Ren Tang Technologies Company, Ltd., H Shares | 102,000 | 94,405 | |||
Denmark 0.8% | 4,212,930 | ||||
Novo Nordisk A/S, B Shares | 69,210 | 4,212,930 | |||
France 3.5% | 19,101,355 | ||||
Air Liquide SA | 13,041 | 1,885,598 | |||
CNP Assurances | 20,534 | 369,619 | |||
Danone SA | 63,423 | 5,075,407 | |||
IPSOS | 7,543 | 244,395 | |||
Rubis SCA | 12,793 | 790,195 | |||
Sanofi | 45,516 | 4,389,504 | |||
Sopra Steria Group | 1,278 | 204,025 | |||
Vinci SA | 55,444 | 6,142,612 | |||
Germany 2.1% | 11,555,234 | ||||
Bayer AG | 63,305 | 5,080,594 | |||
Bertrandt AG | 1,851 | 107,153 | |||
Fraport AG Frankfurt Airport Services Worldwide | 4,063 | 302,195 | |||
Fresenius Medical Care AG & Company KGaA | 8,217 | 631,766 | |||
Fresenius SE & Company KGaA | 20,053 | 1,023,917 | |||
Henkel AG & Company KGaA | 6,511 | 599,897 | |||
Muenchener Rueckversicherungs-Gesellschaft AG | 3,346 | 986,539 | |||
Siemens AG | 19,222 | 2,370,814 | |||
Software AG | 13,569 | 452,359 | |||
Hong Kong 1.5% | 8,148,250 | ||||
China Everbright International, Ltd. | 317,000 | 224,840 | |||
China Metal Recycling Holdings, Ltd. (B)(C) | 1,799,400 | 0 | |||
China Mobile, Ltd. | 303,000 | 2,490,556 | |||
China Overseas Land & Investment, Ltd. | 502,000 | 1,613,643 | |||
China Resources Land, Ltd. | 208,000 | 865,264 | |||
CK Infrastructure Holdings, Ltd. | 119,500 | 833,729 | |||
Power Assets Holdings, Ltd. | 75,000 | 541,456 | |||
Techtronic Industries Company, Ltd. | 155,000 | 1,236,760 |
10 | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Hong Kong (continued) | |||||
Yue Yuen Industrial Holdings, Ltd. | 123,000 | $342,002 | |||
India 0.8% | 4,531,797 | ||||
Axis Bank, Ltd., GDR | 19,456 | 994,392 | |||
Infosys, Ltd., ADR | 319,217 | 3,498,618 | |||
Wipro, Ltd., ADR | 10,685 | 38,787 | |||
Indonesia 0.5% | 2,610,316 | ||||
Astra International Tbk PT | 299,600 | 138,307 | |||
Bank Rakyat Indonesia Persero Tbk PT | 2,830,200 | 920,112 | |||
Telekomunikasi Indonesia Persero Tbk PT | 5,594,900 | 1,551,897 | |||
Ireland 2.1% | 11,599,369 | ||||
Accenture PLC, Class A | 21,034 | 4,316,387 | |||
Glanbia PLC | 24,296 | 283,047 | |||
Medtronic PLC | 60,637 | 6,999,935 | |||
Israel 1.3% | 7,189,299 | ||||
Check Point Software Technologies, Ltd. (C) | 62,893 | 7,189,299 | |||
Italy 0.4% | 2,044,456 | ||||
Hera SpA | 104,991 | 477,543 | |||
Snam SpA | 292,352 | 1,566,913 | |||
Japan 4.8% | 26,164,373 | ||||
ABC-Mart, Inc. | 6,700 | 429,844 | |||
Aeon Delight Company, Ltd. | 4,200 | 144,110 | |||
Aica Kogyo Company, Ltd. | 9,700 | 302,797 | |||
Air Water, Inc. | 33,000 | 453,259 | |||
BML, Inc. | 7,500 | 212,395 | |||
Cosmos Pharmaceutical Corp. | 900 | 197,659 | |||
Daicel Corp. | 25,400 | 240,444 | |||
Daiichikosho Company, Ltd. | 3,200 | 155,448 | |||
Denka Company, Ltd. | 14,300 | 386,308 | |||
East Japan Railway Company | 12,200 | 1,074,230 | |||
Electric Power Development Company, Ltd. | 27,200 | 613,395 | |||
Fuyo General Lease Company, Ltd. | 2,300 | 143,460 | |||
Hankyu Hanshin Holdings, Inc. | 13,400 | 543,667 | |||
Hitachi Transport System, Ltd. | 8,300 | 238,275 | |||
Hoya Corp. | 18,100 | 1,732,268 | |||
Itochu Techno-Solutions Corp. | 15,000 | 441,732 | |||
Izumi Company, Ltd. | 10,500 | 330,954 | |||
Kamigumi Company, Ltd. | 13,400 | 286,326 | |||
KDDI Corp. | 169,100 | 5,110,046 | |||
Keisei Electric Railway Company, Ltd. | 19,900 | 719,923 | |||
Kuraray Company, Ltd. | 32,600 | 391,868 | |||
Kureha Corp. | 3,600 | 201,929 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND | 11 |
Shares | Value | ||||
Japan (continued) | |||||
Maeda Road Construction Company, Ltd. | 9,700 | $327,860 | |||
NEC Networks & System Integration Corp. | 2,300 | 85,966 | |||
Nippon Express Company, Ltd. | 7,700 | 401,240 | |||
Nippon Telegraph & Telephone Corp. | 180,800 | 4,609,865 | |||
Nippon Television Holdings, Inc. | 22,500 | 303,987 | |||
Otsuka Corp. | 1,900 | 74,090 | |||
Sawai Pharmaceutical Company, Ltd. | 6,500 | 422,406 | |||
Sekisui Chemical Company, Ltd. | 18,300 | 304,794 | |||
Seven & i Holdings Company, Ltd. | 59,000 | 2,262,257 | |||
Stanley Electric Company, Ltd. | 14,400 | 370,873 | |||
Taikisha, Ltd. | 3,200 | 109,423 | |||
Takeda Pharmaceutical Company, Ltd. | 35,600 | 1,367,161 | |||
The Chugoku Electric Power Company, Inc. | 10,500 | 138,581 | |||
Tokyo Century Corp. | 8,600 | 437,478 | |||
USS Company, Ltd. | 6,600 | 119,788 | |||
Valor Holdings Company, Ltd. | 13,900 | 242,914 | |||
Yaoko Company, Ltd. | 4,600 | 235,353 | |||
Malaysia 0.2% | 1,255,400 | ||||
Tenaga Nasional BHD | 414,700 | 1,255,400 | |||
Mexico 0.2% | 881,287 | ||||
Grupo Financiero Banorte SAB de CV, Series O | 143,000 | 881,287 | |||
Netherlands 0.0% | 197,108 | ||||
Eurocommercial Properties NV | 7,882 | 197,108 | |||
Peru 0.5% | 2,700,827 | ||||
Credicorp, Ltd. | 13,074 | 2,700,827 | |||
Philippines 0.0% | 154,954 | ||||
PLDT, Inc. | 7,965 | 154,954 | |||
Singapore 0.3% | 1,414,180 | ||||
Ascendas Real Estate Investment Trust | 322,101 | 741,648 | |||
CapitaLand Mall Trust | 108,200 | 198,930 | |||
ComfortDelGro Corp., Ltd. | 299,400 | 473,602 | |||
South Africa 0.6% | 3,431,352 | ||||
Absa Group, Ltd. | 64,389 | 585,953 | |||
Aspen Pharmacare Holdings, Ltd. (C) | 45,207 | 347,980 | |||
Netcare, Ltd. | 200,150 | 266,638 | |||
Remgro, Ltd. | 24,892 | 300,769 | |||
Sanlam, Ltd. | 70,884 | 347,089 | |||
Shoprite Holdings, Ltd. | 22,524 | 174,822 | |||
Standard Bank Group, Ltd. | 76,452 | 797,453 | |||
The Foschini Group, Ltd. | 60,391 | 553,118 |
12 | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
South Africa (continued) | |||||
Vodacom Group, Ltd. | 7,401 | $57,530 | |||
South Korea 2.0% | 10,977,268 | ||||
Hyundai Glovis Company, Ltd. | 5,312 | 651,565 | |||
Hyundai Mobis Company, Ltd. | 8,027 | 1,534,952 | |||
KT&G Corp. | 20,654 | 1,641,243 | |||
Samsung Electronics Company, Ltd. | 88,247 | 4,088,750 | |||
Samsung Fire & Marine Insurance Company, Ltd. | 1,189 | 209,342 | |||
SK Telecom Company, Ltd. | 12,392 | 2,373,873 | |||
SK Telecom Company, Ltd., ADR | 22,515 | 477,543 | |||
Spain 0.3% | 1,883,522 | ||||
Industria de Diseno Textil SA | 54,364 | 1,828,108 | |||
Prosegur Cia de Seguridad SA | 14,052 | 55,414 | |||
Sweden 0.1% | 595,881 | ||||
Castellum AB | 6,827 | 167,715 | |||
Intrum AB | 15,454 | 428,166 | |||
Switzerland 1.7% | 9,145,932 | ||||
Chubb, Ltd. | 19,856 | 3,017,913 | |||
Helvetia Holding AG | 2,404 | 345,590 | |||
Nestle SA | 15,521 | 1,711,853 | |||
Roche Holding AG | 12,134 | 4,070,576 | |||
Taiwan 0.7% | 3,972,298 | ||||
Delta Electronics, Inc. | 93,000 | 434,523 | |||
Taiwan Semiconductor Manufacturing Company, Ltd. | 343,000 | 3,537,775 | |||
Thailand 0.2% | 883,171 | ||||
Bangkok Bank PCL | 192,500 | 883,171 | |||
Turkey 0.4% | 2,241,213 | ||||
Akbank T.A.S. (C) | 396,098 | 546,623 | |||
Haci Omer Sabanci Holding AS | 502,579 | 817,097 | |||
KOC Holding AS | 36,940 | 120,226 | |||
Turkcell Iletisim Hizmetleri AS | 321,883 | 757,267 | |||
United Arab Emirates 0.0% | 207,189 | ||||
First Abu Dhabi Bank PJSC | 49,382 | 207,189 | |||
United Kingdom 3.2% | 17,772,742 | ||||
British American Tobacco PLC | 104,664 | 4,615,145 | |||
Britvic PLC | 46,748 | 570,391 | |||
Euromoney Institutional Investor PLC | 7,447 | 120,426 | |||
Greggs PLC | 7,379 | 219,279 | |||
Halfords Group PLC | 39,883 | 86,125 | |||
IG Group Holdings PLC | 20,902 | 183,019 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND | 13 |
Shares | Value | ||||
United Kingdom (continued) | |||||
Imperial Brands PLC | 88,408 | $2,266,975 | |||
Informa PLC | 51,968 | 530,852 | |||
Meggitt PLC | 71,933 | 639,921 | |||
Moneysupermarket.com Group PLC | 135,255 | 580,588 | |||
Reckitt Benckiser Group PLC | 21,876 | 1,810,748 | |||
Rightmove PLC | 147,574 | 1,278,955 | |||
Spectris PLC | 5,193 | 180,820 | |||
Unilever PLC | 44,369 | 2,646,668 | |||
WH Smith PLC | 11,919 | 375,480 | |||
WPP PLC | 134,101 | 1,667,350 | |||
United States 38.2% | 209,787,393 | ||||
3M Company | 10,342 | 1,640,862 | |||
Alphabet, Inc., Class A (C) | 3,673 | 5,262,601 | |||
American Financial Group, Inc. | 4,996 | 543,515 | |||
Amgen, Inc. | 29,105 | 6,288,135 | |||
Anthem, Inc. | 14,331 | 3,801,728 | |||
Archer-Daniels-Midland Company | 47,225 | 2,113,791 | |||
AT&T, Inc. | 214,383 | 8,065,082 | |||
Automatic Data Processing, Inc. | 25,514 | 4,372,844 | |||
AutoZone, Inc. (C) | 3,478 | 3,679,585 | |||
Bristol-Myers Squibb Company | 75,113 | 4,728,363 | |||
Cadence Design Systems, Inc. (C) | 31,807 | 2,293,603 | |||
Cerner Corp. | 11,114 | 798,319 | |||
Cigna Corp. | 38,257 | 7,359,882 | |||
Cinemark Holdings, Inc. | 4,643 | 146,301 | |||
Cisco Systems, Inc. | 178,188 | 8,191,302 | |||
Citrix Systems, Inc. | 15,807 | 1,916,125 | |||
Cognizant Technology Solutions Corp., Class A | 105,187 | 6,456,378 | |||
Colgate-Palmolive Company | 22,970 | 1,694,727 | |||
Comcast Corp., Class A | 181,504 | 7,839,158 | |||
Crane Company | 2,670 | 228,178 | |||
CVS Health Corp. | 74,649 | 5,062,695 | |||
Deluxe Corp. | 9,690 | 467,058 | |||
eBay, Inc. | 130,399 | 4,376,190 | |||
EnerSys | 6,043 | 434,854 | |||
Eversource Energy | 19,303 | 1,784,369 | |||
Expeditors International of Washington, Inc. | 35,289 | 2,577,509 | |||
Exxon Mobil Corp. | 27,728 | 1,722,463 | |||
F5 Networks, Inc. (C) | 15,851 | 1,935,724 | |||
Fastenal Company | 45,351 | 1,581,843 | |||
FedEx Corp. | 7,483 | 1,082,341 | |||
Forward Air Corp. | 2,163 | 141,568 | |||
Henry Schein, Inc. (C) | 26,133 | 1,801,609 |
14 | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
United States (continued) | |||||
Hibbett Sports, Inc. (C) | 12,813 | $317,506 | |||
HNI Corp. | 2,762 | 99,349 | |||
Hubbell, Inc. | 3,320 | 475,524 | |||
IBM Corp. | 38,847 | 5,583,479 | |||
ICF International, Inc. | 1,218 | 106,685 | |||
Insperity, Inc. | 17,843 | 1,558,943 | |||
Intuit, Inc. | 4,998 | 1,401,339 | |||
John Wiley & Sons, Inc., Class A | 3,926 | 171,252 | |||
Johnson & Johnson | 62,108 | 9,246,018 | |||
Kellogg Company | 22,609 | 1,542,160 | |||
Laboratory Corp. of America Holdings (C) | 1,545 | 270,993 | |||
Mastercard, Inc., Class A | 8,694 | 2,746,782 | |||
Matthews International Corp., Class A | 8,141 | 303,822 | |||
McKesson Corp. | 17,465 | 2,490,684 | |||
Merck & Company, Inc. | 30,274 | 2,586,611 | |||
Meredith Corp. | 1,878 | 56,434 | |||
Microsoft Corp. | 17,072 | 2,906,167 | |||
Monmouth Real Estate Investment Corp. | 9,326 | 136,439 | |||
Monster Beverage Corp. (C) | 55,011 | 3,663,733 | |||
National Fuel Gas Company | 7,007 | 302,632 | |||
NIKE, Inc., Class B | 26,651 | 2,566,491 | |||
Oracle Corp. | 129,089 | 6,770,718 | |||
Paychex, Inc. | 25,728 | 2,206,691 | |||
PepsiCo, Inc. | 11,994 | 1,703,388 | |||
Pfizer, Inc. | 92,558 | 3,446,860 | |||
Philip Morris International, Inc. | 21,170 | 1,750,759 | |||
Prosperity Bancshares, Inc. | 5,795 | 406,809 | |||
Public Service Enterprise Group, Inc. | 24,744 | 1,464,845 | |||
Regal Beloit Corp. | 1,761 | 138,168 | |||
Reinsurance Group of America, Inc. | 2,733 | 393,689 | |||
Ross Stores, Inc. | 18,940 | 2,124,879 | |||
ScanSource, Inc. (C) | 6,331 | 220,889 | |||
Signature Bank | 5,666 | 803,949 | |||
Silgan Holdings, Inc. | 22,957 | 708,453 | |||
Simon Property Group, Inc. | 26,492 | 3,527,410 | |||
Sonoco Products Company | 3,009 | 171,934 | |||
Starbucks Corp. | 55,774 | 4,731,308 | |||
Target Corp. | 35,892 | 3,974,680 | |||
Texas Roadhouse, Inc. | 31,613 | 1,975,813 | |||
The Coca-Cola Company | 30,150 | 1,760,760 | |||
The Estee Lauder Companies, Inc., Class A | 10,942 | 2,135,441 | |||
The Hanover Insurance Group, Inc. | 4,325 | 599,359 | |||
The Hershey Company | 10,638 | 1,650,698 | |||
The Procter & Gamble Company | 13,304 | 1,657,944 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND | 15 |
Shares | Value | ||||
United States (continued) | |||||
The TJX Companies, Inc. | 35,493 | $2,095,507 | |||
The Toro Company | 31,766 | 2,541,915 | |||
USANA Health Sciences, Inc. (C) | 2,867 | 176,894 | |||
Verizon Communications, Inc. | 37,410 | 2,223,650 | |||
Visa, Inc., Class A | 14,616 | 2,908,146 | |||
VMware, Inc., Class A (C) | 16,226 | 2,402,422 | |||
Walgreens Boots Alliance, Inc. | 28,081 | 1,427,919 | |||
Walmart, Inc. | 13,981 | 1,600,685 | |||
WEC Energy Group, Inc. | 17,309 | 1,728,996 | |||
Wolverine World Wide, Inc. | 13,652 | 430,994 | |||
Woodward, Inc. | 1,181 | 137,362 | |||
Xcel Energy, Inc. | 25,368 | 1,755,212 | |||
Xilinx, Inc. | 43,196 | 3,649,198 | |||
Zimmer Biomet Holdings, Inc. | 23,403 | 3,461,304 | |||
Preferred securities 0.1% | $367,100 | ||||
(Cost $377,062) | |||||
Brazil 0.1% | 367,100 | ||||
Banco Bradesco SA | 47,800 | 367,100 | |||
Rate (%) | Maturity date | Par value^ | Value | ||
U.S. Government and Agency obligations 10.0% | $54,869,633 | ||||
(Cost $53,863,427) | |||||
United States 10.0% | 54,869,633 | ||||
U.S. Treasury | |||||
Note | 1.750 | 11-15-29 | 2,739,900 | 2,799,621 | |
Note | 2.000 | 02-15-25 | 2,081,400 | 2,148,476 | |
Note | 2.000 | 11-15-26 | 6,820,200 | 7,075,158 | |
Note | 2.250 | 11-15-25 | 5,106,900 | 5,353,667 | |
Note | 2.250 | 02-15-27 | 6,256,400 | 6,601,724 | |
Note | 2.250 | 08-15-27 | 3,891,800 | 4,117,403 | |
Note | 2.375 | 05-15-29 | 6,786,700 | 7,300,740 | |
Note | 2.625 | 02-15-29 | 1,009,300 | 1,105,854 | |
Note | 2.750 | 02-15-28 | 9,954,500 | 10,930,508 | |
Note | 2.875 | 05-15-28 | 1,994,800 | 2,213,449 | |
Note | 3.125 | 11-15-28 | 4,602,900 | 5,223,033 | |
Corporate bonds 11.0% | $60,611,718 | ||||
(Cost $60,908,442) | |||||
Australia 0.3% | 1,815,775 | ||||
Westpac Banking Corp. | 0.500 | 05-17-24 | EUR | 800,000 | 914,519 |
Westpac Banking Corp. | 0.750 | 07-22-21 | EUR | 800,000 | 901,256 |
Austria 0.1% | 595,418 | ||||
Erste Group Bank AG | 0.750 | 01-17-28 | EUR | 500,000 | 595,418 |
16 | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Belgium 0.1% | $363,905 | ||||
Belfius Bank SA | 1.000 | 06-12-28 | EUR | 300,000 | 363,905 |
Denmark 3.9% | 21,644,964 | ||||
Nykredit Realkredit A/S | 1.000 | 04-01-21 | DKK | 18,000,000 | 2,717,876 |
Nykredit Realkredit A/S | 1.000 | 10-01-50 | DKK | 4,500,000 | 667,864 |
Nykredit Realkredit A/S | 2.000 | 10-01-50 | DKK | 19,643,551 | 3,030,539 |
Nykredit Realkredit A/S | 2.500 | 10-01-47 | DKK | 6,878,686 | 1,070,663 |
Nykredit Realkredit A/S | 3.000 | 10-01-47 | DKK | 5,472,698 | 871,316 |
Realkredit Danmark A/S | 1.000 | 04-01-21 | DKK | 42,000,000 | 6,341,694 |
Realkredit Danmark A/S | 1.000 | 04-01-22 | DKK | 24,500,000 | 3,750,624 |
Realkredit Danmark A/S | 1.000 | 04-01-24 | DKK | 7,000,000 | 1,097,505 |
Realkredit Danmark A/S | 1.000 | 10-01-50 | DKK | 7,925,245 | 1,175,043 |
Realkredit Danmark A/S | 2.000 | 10-01-50 | DKK | 5,980,994 | 921,840 |
France 4.0% | 22,140,436 | ||||
AXA Bank Europe SCF | 0.375 | 03-23-23 | EUR | 700,000 | 793,880 |
AXA Bank Europe SCF | 0.500 | 04-18-25 | EUR | 500,000 | 576,723 |
AXA Bank Europe SCF | 1.375 | 04-18-33 | EUR | 1,100,000 | 1,412,278 |
AXA Home Loan SFH SA | 0.050 | 07-05-27 | EUR | 600,000 | 674,965 |
BPCE SFH SA | 0.375 | 02-10-23 | EUR | 2,100,000 | 2,382,713 |
BPCE SFH SA | 0.625 | 05-29-31 | EUR | 1,100,000 | 1,300,032 |
BPCE SFH SA | 1.000 | 06-08-29 | EUR | 1,000,000 | 1,221,704 |
BPCE SFH SA | 3.750 | 09-13-21 | EUR | 1,600,000 | 1,893,489 |
Cie de Financement Foncier SA | 0.625 | 02-10-23 | EUR | 800,000 | 913,784 |
Cie de Financement Foncier SA | 0.875 | 09-11-28 | EUR | 1,000,000 | 1,204,406 |
Cie de Financement Foncier SA | 2.000 | 05-07-24 | EUR | 2,700,000 | 3,292,937 |
Cie de Financement Foncier SA | 3.500 | 11-05-20 | EUR | 1,500,000 | 1,712,095 |
Cie de Financement Foncier SA | 4.375 | 04-15-21 | EUR | 300,000 | 351,734 |
HSBC SFH France SA | 0.500 | 04-17-25 | EUR | 600,000 | 692,680 |
La Banque Postale Home Loan SFH SA | 1.000 | 10-04-28 | EUR | 1,100,000 | 1,337,208 |
Societe Generale SFH SA | 0.250 | 09-11-23 | EUR | 2,100,000 | 2,379,808 |
Germany 1.6% | 8,571,881 | ||||
Berlin Hyp AG | 0.000 | 10-10-22 | EUR | 900,000 | 1,008,614 |
DZ HYP AG | 0.500 | 06-16-26 | EUR | 2,200,000 | 2,561,265 |
DZ HYP AG | 0.875 | 04-17-34 | EUR | 500,000 | 612,651 |
Landesbank Hessen-Thueringen Girozentrale | 0.000 | 11-23-20 | EUR | 700,000 | 778,828 |
Landesbank Hessen-Thueringen Girozentrale | 0.000 | 07-03-24 | EUR | 1,900,000 | 2,137,987 |
Muenchener Hypothekenbank eG | 1.375 | 04-16-21 | EUR | 1,300,000 | 1,472,536 |
Netherlands 0.3% | 1,768,135 | ||||
Cooperatieve Rabobank UA | 0.875 | 02-08-28 | EUR | 500,000 | 601,575 |
de Volksbank NV | 0.500 | 01-30-26 | EUR | 800,000 | 926,267 |
de Volksbank NV | 0.750 | 10-24-31 | EUR | 100,000 | 119,839 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND | 17 |
Rate (%) | Maturity date | Par value^ | Value | ||
Netherlands (continued) | |||||
The Netherlands Nationale-Nederlanden Bank NV | 1.000 | 09-25-28 | EUR | 100,000 | $120,454 |
New Zealand 0.2% | 798,696 | ||||
Westpac Securities NZ, Ltd. | 0.500 | 01-17-24 | EUR | 700,000 | 798,696 |
Norway 0.5% | 2,912,508 | ||||
DNB Boligkreditt AS | 0.375 | 11-14-23 | EUR | 1,000,000 | 1,138,548 |
Eika Boligkreditt AS | 0.875 | 02-01-29 | EUR | 800,000 | 958,683 |
Sparebanken Vest Boligkreditt AS | 0.750 | 02-27-25 | EUR | 700,000 | 815,277 |
Total investments (Cost $496,058,714) 94.3% | $518,160,369 | ||||
Other assets and liabilities, net 5.7% | 31,391,050 | ||||
Total net assets 100.0% | $549,551,419 |
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. | |
Currency Abbreviations | |
DKK | Danish Krone |
EUR | Euro |
Security Abbreviations and Legend | |
ADR | American Depositary Receipt |
GDR | Global Depositary Receipt |
(A) | These securities are 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. |
(B) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
(C) | Non-income producing security. |
18 | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Open contracts | Number
of contracts |
Position | Expiration
date |
Notional
basis^ |
Notional
value^ |
Unrealized
appreciation (depreciation) |
10-Year U.S. Treasury Note Futures | 99 | Long | Mar 2020 | $12,737,088 | $13,041,703 | $304,615 |
Euro-Bund Futures | 3 | Long | Mar 2020 | 569,576 | 582,918 | 13,342 |
ASX SPI 200 Index Futures | 58 | Short | Mar 2020 | (6,610,567) | (6,634,234) | (23,667) |
Canadian 10-Year Bond Futures | 139 | Short | Mar 2020 | (14,628,293) | (14,926,167) | (297,874) |
Euro STOXX 50 Index Futures | 521 | Short | Mar 2020 | (21,670,022) | (20,899,631) | 770,391 |
Euro-BOBL Futures | 338 | Short | Mar 2020 | (50,248,724) | (50,598,600) | (349,876) |
FTSE 100 Index Futures | 117 | Short | Mar 2020 | (11,371,041) | (11,114,606) | 256,435 |
Mini MSCI Emerging Markets Index Futures | 402 | Short | Mar 2020 | (21,987,045) | (21,105,000) | 882,045 |
Nikkei 225 Mini Index Futures | 622 | Short | Mar 2020 | (13,440,918) | (13,013,465) | 427,453 |
S&P 500 E-Mini Index Futures | 624 | Short | Mar 2020 | (99,921,396) | (100,542,000) | (620,604) |
$1,362,260 |
Contract to buy | Contract to sell | Counterparty (OTC) | Contractual
settlement date |
Unrealized
appreciation |
Unrealized
depreciation | ||
AUD | 3,561,000 | JPY | 261,898,018 | GSI | 3/4/2020 | — | $(35,673) |
AUD | 2,164,000 | SEK | 14,021,582 | JPM | 3/4/2020 | — | (9,113) |
AUD | 1,073,030 | USD | 735,627 | BOA | 3/3/2020 | — | (16,989) |
AUD | 132,669 | USD | 91,472 | BNP | 3/3/2020 | — | (2,620) |
AUD | 999,459 | USD | 691,974 | JPM | 3/3/2020 | — | (22,609) |
AUD | 704,000 | USD | 481,550 | BOA | 3/4/2020 | — | (10,053) |
CAD | 239,000 | CHF | 177,224 | GSI | 3/4/2020 | — | (3,763) |
CAD | 875,361 | GBP | 497,000 | BNP | 3/4/2020 | $4,638 | — |
CAD | 453,000 | JPY | 37,715,154 | BNP | 3/4/2020 | — | (6,301) |
CAD | 1,419,000 | JPY | 117,860,196 | JPM | 3/4/2020 | — | (17,143) |
CAD | 957,000 | NOK | 6,557,998 | JPM | 3/4/2020 | 10,048 | — |
CAD | 284,000 | USD | 216,818 | BOA | 3/3/2020 | — | (2,228) |
CAD | 1,436,000 | USD | 1,102,145 | JPM | 3/3/2020 | — | (17,107) |
CAD | 1,003,135 | USD | 768,000 | JPM | 3/4/2020 | — | (10,035) |
CHF | 157,000 | USD | 161,099 | BOA | 3/3/2020 | 2,203 | — |
CHF | 359,000 | USD | 369,524 | GSI | 3/3/2020 | 3,887 | — |
CHF | 408,000 | USD | 421,727 | JPM | 3/3/2020 | 2,651 | — |
CHF | 3,186,594 | USD | 3,256,970 | BNP | 3/4/2020 | 57,759 | — |
CHF | 3,842,899 | USD | 3,912,339 | GSI | 3/4/2020 | 85,085 | — |
CHF | 7,426,434 | USD | 7,580,710 | JPM | 3/4/2020 | 144,345 | — |
DKK | 2,390,000 | USD | 356,640 | BOA | 3/3/2020 | — | (1,275) |
DKK | 29,250,000 | USD | 4,368,808 | GSI | 3/3/2020 | — | (19,673) |
EUR | 413,000 | CAD | 600,145 | BOA | 3/4/2020 | 5,359 | — |
EUR | 6,273,000 | GBP | 5,334,354 | GSI | 3/4/2020 | — | (80,268) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND | 19 |
Contract to buy | Contract to sell | Counterparty (OTC) | Contractual
settlement date |
Unrealized
appreciation |
Unrealized
depreciation | ||
EUR | 283,000 | JPY | 34,546,973 | BNP | 3/4/2020 | — | $(4,902) |
EUR | 470,000 | JPY | 57,129,797 | GSI | 3/4/2020 | — | (5,877) |
EUR | 562,000 | JPY | 68,151,554 | JPM | 3/4/2020 | — | (5,538) |
EUR | 23,197,620 | USD | 26,068,716 | BOA | 2/4/2020 | — | (341,321) |
EUR | 349,000 | USD | 388,736 | JPM | 2/4/2020 | — | (1,676) |
EUR | 4,444,715 | USD | 4,958,872 | BOA | 3/3/2020 | — | (21,269) |
EUR | 426,626 | USD | 475,216 | BNP | 3/3/2020 | — | (1,280) |
EUR | 738,550 | USD | 826,699 | GSI | 3/3/2020 | — | (6,249) |
EUR | 4,484,704 | USD | 4,981,184 | JPM | 3/3/2020 | $844 | — |
EUR | 14,368,000 | USD | 15,953,701 | BOA | 3/4/2020 | 8,558 | — |
EUR | 3,622,000 | USD | 4,035,153 | BNP | 3/4/2020 | — | (11,260) |
EUR | 6,589,000 | USD | 7,337,077 | GSI | 3/4/2020 | — | (16,968) |
EUR | 1,621,000 | USD | 1,822,834 | JPM | 3/4/2020 | — | (21,969) |
EUR | 2,678,000 | USD | 2,969,283 | BOA | 4/17/2020 | 14,260 | — |
EUR | 757,000 | USD | 844,842 | BNP | 4/17/2020 | — | (1,473) |
EUR | 19,870,620 | USD | 22,033,376 | GSI | 5/4/2020 | 125,602 | — |
GBP | 1,085,000 | AUD | 2,050,597 | JPM | 3/4/2020 | 60,453 | — |
GBP | 1,194,340 | EUR | 1,399,000 | BNP | 3/4/2020 | 24,081 | — |
GBP | 598,430 | USD | 784,327 | BOA | 3/3/2020 | 6,474 | — |
GBP | 345,000 | USD | 451,148 | BNP | 3/3/2020 | 4,755 | — |
GBP | 4,056,177 | USD | 5,314,141 | GSI | 3/3/2020 | 45,930 | — |
GBP | 172,715 | USD | 226,354 | JPM | 3/3/2020 | 1,882 | — |
GBP | 43,681 | USD | 57,702 | BOA | 3/4/2020 | 22 | — |
GBP | 5,845,683 | USD | 7,701,644 | BNP | 3/4/2020 | 23,387 | — |
HKD | 276,000 | USD | 35,486 | BOA | 3/3/2020 | 34 | — |
HKD | 1,368,000 | USD | 175,676 | BNP | 3/3/2020 | 376 | — |
HKD | 626,000 | USD | 79,928 | GSI | 3/3/2020 | 634 | — |
HKD | 1,400,000 | USD | 180,103 | JPM | 3/3/2020 | 67 | — |
JPY | 549,862,290 | AUD | 7,296,000 | JPM | 3/4/2020 | 195,731 | — |
JPY | 5,758,356,192 | EUR | 47,699,433 | BNP | 3/4/2020 | 230,046 | — |
JPY | 44,194,106 | EUR | 362,000 | JPM | 3/4/2020 | 6,301 | — |
JPY | 81,855,655 | GBP | 575,000 | JPM | 3/4/2020 | — | (3,300) |
JPY | 89,202,922 | NZD | 1,260,000 | BNP | 3/4/2020 | 9,723 | — |
JPY | 38,941,939 | NZD | 534,000 | JPM | 3/4/2020 | 14,628 | — |
JPY | 8,665,000 | USD | 79,420 | BOA | 3/3/2020 | 663 | — |
JPY | 47,880,785 | USD | 441,361 | BNP | 3/3/2020 | 1,159 | — |
JPY | 38,768,000 | USD | 355,678 | GSI | 3/3/2020 | 2,621 | — |
JPY | 604,125,000 | USD | 5,552,668 | JPM | 3/3/2020 | 30,731 | — |
JPY | 3,020,966,449 | USD | 27,949,914 | BOA | 3/4/2020 | — | (28,342) |
JPY | 3,020,966,450 | USD | 27,926,082 | BNP | 3/4/2020 | — | (4,509) |
JPY | 901,331,912 | USD | 8,258,000 | GSI | 3/4/2020 | 72,647 | — |
JPY | 740,166,536 | USD | 6,800,000 | JPM | 3/4/2020 | 41,060 | — |
NOK | 13,499,762 | GBP | 1,160,000 | JPM | 3/4/2020 | — | (65,090) |
20 | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Contract to buy | Contract to sell | Counterparty (OTC) | Contractual
settlement date |
Unrealized
appreciation |
Unrealized
depreciation | ||
NOK | 17,018,569 | JPY | 202,518,000 | GSI | 3/4/2020 | — | $(21,347) |
NOK | 14,688,322 | NZD | 2,491,000 | GSI | 3/4/2020 | — | (13,660) |
NZD | 1,388,308 | CAD | 1,194,000 | BOA | 3/4/2020 | — | (4,471) |
SEK | 2,885,402 | CHF | 302,000 | GSI | 3/4/2020 | — | (14,024) |
SEK | 3,687,167 | CHF | 383,000 | JPM | 3/4/2020 | — | (14,886) |
SEK | 5,561,860 | EUR | 533,000 | BOA | 3/4/2020 | — | (13,634) |
SEK | 13,788,483 | GBP | 1,105,000 | GSI | 3/4/2020 | — | (26,065) |
SEK | 5,021,825 | JPY | 58,418,000 | GSI | 3/4/2020 | — | (17,598) |
SEK | 20,382,331 | NOK | 19,187,000 | BOA | 3/4/2020 | $33,812 | — |
SEK | 31,828,314 | NZD | 5,081,000 | BNP | 3/4/2020 | 25,080 | — |
SEK | 123,000 | USD | 12,966 | BNP | 3/3/2020 | — | (173) |
SEK | 939,000 | USD | 100,584 | GSI | 3/3/2020 | — | (2,920) |
SEK | 120,000 | USD | 12,774 | JPM | 3/3/2020 | — | (293) |
SEK | 214,246,335 | USD | 22,757,154 | BOA | 3/4/2020 | — | (472,694) |
SGD | 46,000 | USD | 34,043 | BOA | 3/3/2020 | — | (332) |
USD | 868,869 | AUD | 1,263,843 | BOA | 3/3/2020 | 22,437 | — |
USD | 2,097,185 | AUD | 3,086,831 | BNP | 3/3/2020 | 29,847 | — |
USD | 243,350 | AUD | 355,259 | GSI | 3/3/2020 | 5,423 | — |
USD | 219,448 | AUD | 319,735 | JPM | 3/3/2020 | 5,313 | — |
USD | 24,800,670 | AUD | 36,230,415 | BNP | 3/4/2020 | 535,705 | — |
USD | 599,306 | CAD | 789,000 | BOA | 3/3/2020 | 3,140 | — |
USD | 20,825,959 | CAD | 27,650,028 | BNP | 3/3/2020 | — | (66,332) |
USD | 277,669 | CAD | 364,000 | JPM | 3/3/2020 | 2,631 | — |
USD | 917,000 | CAD | 1,193,043 | BOA | 3/4/2020 | 15,541 | — |
USD | 32,214,766 | CAD | 42,536,227 | BNP | 3/4/2020 | 74,549 | — |
USD | 357,233 | CHF | 347,000 | BOA | 3/3/2020 | — | (3,696) |
USD | 6,712,422 | CHF | 6,658,854 | GSI | 3/3/2020 | — | (213,727) |
USD | 161,698 | CHF | 156,000 | JPM | 3/3/2020 | — | (564) |
USD | 2,647,058 | DKK | 17,733,000 | BOA | 3/3/2020 | 10,367 | — |
USD | 26,020,862 | DKK | 175,355,000 | BNP | 3/3/2020 | — | (52,387) |
USD | 90,379 | DKK | 604,000 | GSI | 3/3/2020 | 571 | — |
USD | 2,068,323 | DKK | 14,000,000 | JPM | 3/3/2020 | — | (13,314) |
USD | 1,437,158 | EUR | 1,302,000 | BOA | 2/4/2020 | — | (6,829) |
USD | 2,646,549 | EUR | 2,374,000 | BNP | 2/4/2020 | 13,657 | — |
USD | 2,823,330 | EUR | 2,520,224 | BOA | 3/3/2020 | 23,630 | — |
USD | 84,809,632 | EUR | 76,554,562 | BNP | 3/3/2020 | — | (234,316) |
USD | 1,073,224 | EUR | 970,713 | JPM | 3/3/2020 | — | (5,134) |
USD | 7,667,541 | EUR | 6,871,104 | BOA | 3/4/2020 | 34,026 | — |
USD | 41,843,461 | EUR | 37,509,571 | BNP | 3/4/2020 | 171,867 | — |
USD | 57,126,399 | EUR | 51,029,567 | BOA | 4/17/2020 | 274,688 | — |
USD | 600,275 | EUR | 539,000 | GSI | 4/17/2020 | — | (221) |
USD | 25,116,561 | GBP | 19,366,992 | BOA | 3/3/2020 | — | (476,127) |
USD | 18,288 | GBP | 13,969 | BNP | 3/3/2020 | — | (172) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND | 21 |
Contract to buy | Contract to sell | Counterparty (OTC) | Contractual
settlement date |
Unrealized
appreciation |
Unrealized
depreciation | ||
USD | 794,600 | GBP | 597,779 | GSI | 3/3/2020 | $4,660 | — |
USD | 297,483 | GBP | 225,931 | JPM | 3/3/2020 | — | $(1,075) |
USD | 1,818,443 | GBP | 1,376,579 | BOA | 3/4/2020 | — | (697) |
USD | 1,813,634 | GBP | 1,376,580 | BNP | 3/4/2020 | — | (5,507) |
USD | 7,043,094 | GBP | 5,385,000 | JPM | 3/4/2020 | — | (73,148) |
USD | 157,190 | HKD | 1,222,000 | BOA | 3/3/2020 | — | (73) |
USD | 4,023,195 | HKD | 31,478,000 | BNP | 3/3/2020 | — | (27,805) |
USD | 62,821 | HKD | 490,000 | GSI | 3/3/2020 | — | (238) |
USD | 30,295,698 | JPY | 3,298,487,672 | BOA | 3/3/2020 | — | (189,334) |
USD | 393,361 | JPY | 43,177,000 | GSI | 3/3/2020 | — | (5,686) |
USD | 3,761,272 | JPY | 409,497,000 | JPM | 3/3/2020 | — | (23,350) |
USD | 952,000 | JPY | 103,636,452 | GSI | 3/4/2020 | — | (5,870) |
USD | 908,000 | JPY | 98,231,662 | JPM | 3/4/2020 | 84 | — |
USD | 981,997 | NOK | 8,986,159 | BOA | 3/4/2020 | 4,923 | — |
USD | 805,000 | NOK | 7,216,335 | JPM | 3/4/2020 | 20,361 | — |
USD | 8,729,752 | NZD | 13,311,689 | BOA | 3/4/2020 | 122,120 | — |
USD | 8,698,045 | NZD | 13,311,689 | GSI | 3/4/2020 | 90,413 | — |
USD | 693,408 | SEK | 6,583,000 | BOA | 3/3/2020 | 8,720 | — |
USD | 17,553 | SEK | 164,000 | GSI | 3/3/2020 | 495 | — |
USD | 30,082 | SEK | 285,000 | JPM | 3/3/2020 | 439 | — |
USD | 7,831,085 | SEK | 73,725,446 | BOA | 3/4/2020 | 162,661 | — |
USD | 6,844,000 | SEK | 64,913,257 | BNP | 3/4/2020 | 92,160 | — |
USD | 765,000 | SEK | 7,342,724 | JPM | 3/4/2020 | 1,259 | — |
USD | 59,900 | SGD | 81,000 | BOA | 3/3/2020 | 540 | — |
USD | 1,345,792 | SGD | 1,837,000 | GSI | 3/3/2020 | — | (436) |
USD | 84,868 | SGD | 115,000 | JPM | 3/3/2020 | 591 | — |
USD | 35,837 | ZAR | 532,208 | BOA | 3/3/2020 | 503 | — |
ZAR | 39,000 | USD | 2,693 | BOA | 3/3/2020 | — | (104) |
ZAR | 12,000 | USD | 804 | GSI | 3/3/2020 | — | (7) |
$3,030,857 | $(2,804,119) |
Credit default swaps - Buyer | ||||||||||
Counterparty
(OTC)/ Centrally cleared |
Reference
obligation |
Notional
amount |
Currency | USD
notional amount |
Pay
fixed rate |
Fixed
payment frequency |
Maturity
date |
Unamortized
upfront payment paid (received) |
Unrealized
appreciation (depreciation) |
Value |
DB | CDX.NA.HY.33 | 275,220 | USD | $ 275,220 | 5.000% | Quarterly | Dec 2024 | $ (25,189) | $ 1,644 | $ (23,545) |
DB | iTraxx Europe Crossover Series 32 Version 1 | 442,000 | EUR | 490,202 | 5.000% | Quarterly | Dec 2024 | (63,306) | (3,657) | (66,963) |
JPM | iTraxx Europe Crossover Series 32 Version 1 | 442,000 | EUR | 490,202 | 5.000% | Quarterly | Dec 2024 | (63,782) | (3,709) | (67,491) |
$1,255,624 | $(152,277) | $(5,722) | $(157,999) |
22 | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Derivatives Currency Abbreviations | |
AUD | Australian Dollar |
CAD | Canadian Dollar |
CHF | Swiss Franc |
DKK | Danish Krone |
EUR | Euro |
GBP | Pound Sterling |
HKD | Hong Kong Dollar |
JPY | Japanese Yen |
NOK | Norwegian Krone |
NZD | New Zealand Dollar |
SEK | Swedish Krona |
SGD | Singapore Dollar |
USD | U.S. Dollar |
ZAR | South African Rand |
Derivatives Abbreviations | |
BNP | BNP Paribas |
BOA | Bank of America, N.A. |
DB | Deutsche Bank AG |
GSI | Goldman Sachs International |
JPM | JPMorgan Chase Bank, N.A. |
OTC | Over-the-counter |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK MULTI-ASSET ABSOLUTE RETURN FUND | 23 |
Financial statements |
Assets | |
Unaffiliated investments, at value (Cost $496,058,714) | $518,160,369 |
Unrealized appreciation on forward foreign currency contracts | 3,030,857 |
Receivable for futures variation margin | 2,795,767 |
Cash | 9,271,023 |
Foreign currency, at value (Cost $6,036,475) | 6,049,341 |
Collateral held at broker for futures contracts | 10,041,546 |
Dividends and interest receivable | 4,052,712 |
Receivable for fund shares sold | 95,644 |
Receivable for investments sold | 330,212 |
Other assets | 143,146 |
Total assets | 553,970,617 |
Liabilities | |
Unrealized depreciation on forward foreign currency contracts | 2,804,119 |
Swap contracts, at value (net unamortized upfront payment of $(152,277)) | 157,999 |
Payable for investments purchased | 530,083 |
Payable for fund shares repurchased | 620,304 |
Payable to affiliates | |
Accounting and legal services fees | 2,338 |
Transfer agent fees | 42,402 |
Distribution and service fees | 228 |
Trustees' fees | 5,657 |
Other liabilities and accrued expenses | 256,068 |
Total liabilities | 4,419,198 |
Net assets | $549,551,419 |
Net assets consist of | |
Paid-in capital | $1,093,542,551 |
Total distributable earnings (loss) | (543,991,132) |
Net assets | $549,551,419 |
24 | JOHN HANCOCK Multi-Asset Absolute Return Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
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 ($38,493,464 ÷ 4,198,385 shares)1 | $9.17 |
Class C ($41,730,855 ÷ 4,661,632 shares)1 | $8.95 |
Class I ($317,625,686 ÷ 34,205,482 shares) | $9.29 |
Class R2 ($554,402 ÷ 60,760 shares) | $9.12 |
Class R6 ($112,341,469 ÷ 12,048,160 shares) | $9.32 |
Class NAV ($38,805,543 ÷ 4,163,257 shares) | $9.32 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $9.65 |
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 | SEMIANNUAL REPORT | JOHN HANCOCK Multi-Asset Absolute Return Fund | 25 |
Investment income | |
Dividends | $4,664,992 |
Interest | 1,883,853 |
Less foreign taxes withheld | (178,081) |
Total investment income | 6,370,764 |
Expenses | |
Investment management fees | 3,209,380 |
Distribution and service fees | 301,221 |
Accounting and legal services fees | 59,508 |
Transfer agent fees | 299,571 |
Trustees' fees | 8,400 |
Custodian fees | 109,630 |
State registration fees | 42,822 |
Printing and postage | 59,148 |
Professional fees | 112,118 |
Other | 76,159 |
Total expenses | 4,277,957 |
Less expense reductions | (24,143) |
Net expenses | 4,253,814 |
Net investment income | 2,116,950 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | 44,070,929 |
Futures contracts | (28,213,759) |
Forward foreign currency contracts | 966,313 |
Written options | 363,476 |
Swap contracts | 8,109,968 |
25,296,927 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | (9,619,609) |
Futures contracts | 6,439,491 |
Forward foreign currency contracts | (1,771,938) |
Written options | (234,081) |
Swap contracts | (8,562,192) |
(13,748,329) | |
Net realized and unrealized gain | 11,548,598 |
Increase in net assets from operations | $13,665,548 |
26 | JOHN HANCOCK Multi-Asset Absolute Return Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Six
months ended 1-31-20 (unaudited) |
Year
ended 7-31-19 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $2,116,950 | $43,813,084 |
Net realized gain | 25,296,927 | 55,351,532 |
Change in net unrealized appreciation (depreciation) | (13,748,329) | (91,308,763) |
Increase in net assets resulting from operations | 13,665,548 | 7,855,853 |
Distributions to shareholders | ||
From earnings | ||
Class A | (7,249,302) | — |
Class C | (7,396,250) | — |
Class I | (74,709,636) | — |
Class R2 | (106,878) | — |
Class R6 | (22,147,213) | — |
Class NAV | (4,683,945) | — |
Total distributions | (116,293,224) | — |
From fund share transactions | (168,320,641) | (2,996,015,289) |
Total decrease | (270,948,317) | (2,988,159,436) |
Net assets | ||
Beginning of period | 820,499,736 | 3,808,659,172 |
End of period | $549,551,419 | $820,499,736 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Multi-Asset Absolute Return Fund | 27 |
Financial highlights |
CLASS A SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $10.54 | $10.12 | $10.30 | $9.94 | $11.27 | $11.25 |
Net investment income2 | 0.02 | 0.20 | 0.14 | 0.06 | 0.04 | 0.03 |
Net realized and unrealized gain (loss) on investments | 0.17 | 0.22 | (0.32) | 0.30 | (0.69) | 0.53 |
Total from investment operations | 0.19 | 0.42 | (0.18) | 0.36 | (0.65) | 0.56 |
Less distributions | ||||||
From net investment income | (1.56) | — | — | — | (0.68) | (0.54) |
Net asset value, end of period | $9.17 | $10.54 | $10.12 | $10.30 | $9.94 | $11.27 |
Total return (%)3,4 | 2.11 5 | 4.15 | (1.75) | 3.62 | (6.00) | 5.15 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $38 | $51 | $114 | $194 | $1,047 | $1,080 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.56 6 | 1.69 | 1.65 | 1.65 | 1.64 | 1.67 |
Expenses including reductions | 1.55 6 | 1.69 | 1.64 | 1.64 | 1.63 | 1.66 |
Net investment income | 0.39 6 | 2.02 | 1.35 | 0.57 | 0.34 | 0.23 |
Portfolio turnover (%) | 145 7 | 50 | 59 | 59 | 80 | 80 |
1 | Six months ended 1-31-20. Unaudited. |
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 | Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. |
28 | JOHN HANCOCK Multi-Asset Absolute Return Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS C SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $10.29 | $9.95 | $10.19 | $9.91 | $11.23 | $11.21 |
Net investment income (loss)2 | (0.01) | 0.13 | 0.06 | — 3 | (0.04) | (0.05) |
Net realized and unrealized gain (loss) on investments | 0.15 | 0.21 | (0.30) | 0.28 | (0.67) | 0.53 |
Total from investment operations | 0.14 | 0.34 | (0.24) | 0.28 | (0.71) | 0.48 |
Less distributions | ||||||
From net investment income | (1.48) | — | — | — | (0.61) | (0.46) |
Net asset value, end of period | $8.95 | $10.29 | $9.95 | $10.19 | $9.91 | $11.23 |
Total return (%)4,5 | 1.70 6 | 3.42 | (2.36) | 2.83 | (6.61) | 4.43 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $42 | $52 | $91 | $162 | $309 | $293 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 2.26 7 | 2.39 | 2.35 | 2.35 | 2.34 | 2.37 |
Expenses including reductions | 2.25 7 | 2.39 | 2.34 | 2.34 | 2.33 | 2.36 |
Net investment income (loss) | (0.31) 7 | 1.35 | 0.61 | (0.05) | (0.35) | (0.45) |
Portfolio turnover (%) | 145 8 | 50 | 59 | 59 | 80 | 80 |
1 | Six months ended 1-31-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Less than $0.005 per share. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Does not reflect the effect of sales charges, if any. |
6 | Not annualized. |
7 | Annualized. |
8 | Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Multi-Asset Absolute Return Fund | 29 |
CLASS I SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $10.67 | $10.22 | $10.36 | $9.97 | $11.30 | $11.29 |
Net investment income2 | 0.04 | 0.22 | 0.17 | 0.10 | 0.07 | 0.06 |
Net realized and unrealized gain (loss) on investments | 0.17 | 0.23 | (0.31) | 0.29 | (0.68) | 0.53 |
Total from investment operations | 0.21 | 0.45 | (0.14) | 0.39 | (0.61) | 0.59 |
Less distributions | ||||||
From net investment income | (1.59) | — | — | — | (0.72) | (0.58) |
Net asset value, end of period | $9.29 | $10.67 | $10.22 | $10.36 | $9.97 | $11.30 |
Total return (%)3 | 2.32 4 | 4.40 | (1.35) | 3.91 | (5.67) | 5.38 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $318 | $535 | $2,413 | $3,481 | $5,316 | $5,093 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.26 5 | 1.41 | 1.35 | 1.33 | 1.32 | 1.36 |
Expenses including reductions | 1.25 5 | 1.40 | 1.35 | 1.33 | 1.31 | 1.34 |
Net investment income | 0.74 5 | 2.21 | 1.66 | 1.01 | 0.67 | 0.56 |
Portfolio turnover (%) | 145 6 | 50 | 59 | 59 | 80 | 80 |
1 | Six months ended 1-31-20. Unaudited. |
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 | Annualized. |
6 | Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. |
30 | JOHN HANCOCK Multi-Asset Absolute Return Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R2 SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $10.49 | $10.08 | $10.27 | $9.92 | $11.25 | $11.24 |
Net investment income (loss)2 | 0.02 | 0.20 | 0.12 | 0.08 | 0.01 | (0.01) |
Net realized and unrealized gain (loss) on investments | 0.16 | 0.21 | (0.31) | 0.27 | (0.66) | 0.53 |
Total from investment operations | 0.18 | 0.41 | (0.19) | 0.35 | (0.65) | 0.52 |
Less distributions | ||||||
From net investment income | (1.55) | — | — | — | (0.68) | (0.51) |
Net asset value, end of period | $9.12 | $10.49 | $10.08 | $10.27 | $9.92 | $11.25 |
Total return (%)3 | 2.16 4 | 4.07 | (1.85) | 3.53 | (6.08) | 4.75 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $1 | $1 | $1 | $2 | $3 | $5 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.60 5 | 1.78 | 1.75 | 1.72 | 1.75 | 1.99 |
Expenses including reductions | 1.60 5 | 1.77 | 1.74 | 1.71 | 1.74 | 1.97 |
Net investment income (loss) | 0.35 5 | 1.99 | 1.17 | 0.78 | 0.09 | (0.06) |
Portfolio turnover (%) | 145 6 | 50 | 59 | 59 | 80 | 80 |
1 | Six months ended 1-31-20. Unaudited. |
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 | Annualized. |
6 | Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Multi-Asset Absolute Return Fund | 31 |
CLASS R6 SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $10.71 | $10.24 | $10.38 | $9.97 | $11.30 | $11.29 |
Net investment income2 | 0.04 | 0.24 | 0.19 | 0.11 | 0.09 | 0.09 |
Net realized and unrealized gain (loss) on investments | 0.17 | 0.23 | (0.33) | 0.30 | (0.69) | 0.51 |
Total from investment operations | 0.21 | 0.47 | (0.14) | 0.41 | (0.60) | 0.60 |
Less distributions | ||||||
From net investment income | (1.60) | — | — | — | (0.73) | (0.59) |
Net asset value, end of period | $9.32 | $10.71 | $10.24 | $10.38 | $9.97 | $11.30 |
Total return (%)3 | 2.33 4 | 4.59 | (1.35) | 4.11 | (5.55) | 5.51 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $112 | $150 | $546 | $693 | $639 | $557 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.15 5 | 1.29 | 1.26 | 1.24 | 1.23 | 1.26 |
Expenses including reductions | 1.15 5 | 1.29 | 1.24 | 1.22 | 1.20 | 1.23 |
Net investment income | 0.82 5 | 2.33 | 1.79 | 1.08 | 0.81 | 0.77 |
Portfolio turnover (%) | 145 6 | 50 | 59 | 59 | 80 | 80 |
1 | Six months ended 1-31-20. Unaudited. |
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 | Annualized. |
6 | Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. |
32 | JOHN HANCOCK Multi-Asset Absolute Return Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS NAV SHARES Period ended | 1-31-20 1 | 7-31-19 | 7-31-18 | 7-31-17 | 7-31-16 | 7-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $10.71 | $10.23 | $10.37 | $9.96 | $11.29 | $11.28 |
Net investment income2 | 0.04 | 0.21 | 0.19 | 0.11 | 0.08 | 0.08 |
Net realized and unrealized gain (loss) on investments | 0.17 | 0.27 | (0.33) | 0.30 | (0.68) | 0.52 |
Total from investment operations | 0.21 | 0.48 | (0.14) | 0.41 | (0.60) | 0.60 |
Less distributions | ||||||
From net investment income | (1.60) | — | — | — | (0.73) | (0.59) |
Net asset value, end of period | $9.32 | $10.71 | $10.23 | $10.37 | $9.96 | $11.29 |
Total return (%)3 | 2.33 4 | 4.59 | (1.35) | 4.12 | (5.56) | 5.51 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $39 | $32 | $643 | $936 | $1,119 | $1,260 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.14 5 | 1.28 | 1.24 | 1.22 | 1.21 | 1.24 |
Expenses including reductions | 1.13 5 | 1.27 | 1.23 | 1.22 | 1.20 | 1.23 |
Net investment income | 0.74 5 | 2.07 | 1.81 | 1.12 | 0.75 | 0.68 |
Portfolio turnover (%) | 145 6 | 50 | 59 | 59 | 80 | 80 |
1 | Six months ended 1-31-20. Unaudited. |
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 | Annualized. |
6 | Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Multi-Asset Absolute Return Fund | 33 |
Notes to financial statements (unaudited) |
34 | JOHN HANCOCK Multi-Asset Absolute Return Fund | SEMIANNUAL REPORT |
Total
value at 1-31-20 |
Level
1 quoted price |
Level
2 significant observable inputs |
Level
3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Australia | $1,268,601 | — | $1,268,601 | — |
Brazil | 651,176 | $651,176 | — | — |
Canada | 19,266,599 | 19,266,599 | — | — |
China | 16,466,446 | — | 16,429,927 | $36,519 |
Denmark | 4,212,930 | — | 4,212,930 | — |
France | 19,101,355 | — | 19,101,355 | — |
Germany | 11,555,234 | — | 11,555,234 | — |
Hong Kong | 8,148,250 | — | 8,148,250 | — |
SEMIANNUAL REPORT | JOHN HANCOCK Multi-Asset Absolute Return Fund | 35 |
Total
value at 1-31-20 |
Level
1 quoted price |
Level
2 significant observable inputs |
Level
3 significant unobservable inputs | |
India | $4,531,797 | $3,537,405 | $994,392 | — |
Indonesia | 2,610,316 | — | 2,610,316 | — |
Ireland | 11,599,369 | 11,316,322 | 283,047 | — |
Israel | 7,189,299 | 7,189,299 | — | — |
Italy | 2,044,456 | — | 2,044,456 | — |
Japan | 26,164,373 | — | 26,164,373 | — |
Malaysia | 1,255,400 | — | 1,255,400 | — |
Mexico | 881,287 | 881,287 | — | — |
Netherlands | 197,108 | — | 197,108 | — |
Peru | 2,700,827 | 2,700,827 | — | — |
Philippines | 154,954 | — | 154,954 | — |
Singapore | 1,414,180 | — | 1,414,180 | — |
South Africa | 3,431,352 | — | 3,431,352 | — |
South Korea | 10,977,268 | 477,543 | 10,499,725 | — |
Spain | 1,883,522 | — | 1,883,522 | — |
Sweden | 595,881 | — | 595,881 | — |
Switzerland | 9,145,932 | 3,017,913 | 6,128,019 | — |
Taiwan | 3,972,298 | — | 3,972,298 | — |
Thailand | 883,171 | — | 883,171 | — |
Turkey | 2,241,213 | — | 2,241,213 | — |
United Arab Emirates | 207,189 | — | 207,189 | — |
United Kingdom | 17,772,742 | — | 17,772,742 | — |
United States | 209,787,393 | 209,787,393 | — | — |
Preferred securities | 367,100 | 367,100 | — | — |
U.S. Government and Agency obligations | 54,869,633 | — | 54,869,633 | — |
Corporate bonds | 60,611,718 | — | 60,611,718 | — |
Total investments in securities | $518,160,369 | $259,192,864 | $258,930,986 | $36,519 |
Derivatives: | ||||
Assets | ||||
Futures | $2,654,281 | $2,654,281 | — | — |
Forward foreign currency contracts | 3,030,857 | — | $3,030,857 | — |
Liabilities | ||||
Futures | (1,292,021) | (1,292,021) | — | — |
Forward foreign currency contracts | (2,804,119) | — | (2,804,119) | — |
Swap contracts | (157,999) | — | (157,999) | — |
36 | JOHN HANCOCK Multi-Asset Absolute Return Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Multi-Asset Absolute Return Fund | 37 |
38 | JOHN HANCOCK Multi-Asset Absolute Return Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Multi-Asset Absolute Return Fund | 39 |
40 | JOHN HANCOCK Multi-Asset Absolute Return Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Multi-Asset Absolute Return Fund | 41 |
42 | JOHN HANCOCK Multi-Asset Absolute Return Fund | SEMIANNUAL REPORT |
Risk | Statement
of assets and liabilities location |
Financial
instruments location |
Assets
derivatives fair value |
Liabilities
derivatives fair value |
Interest rate | Receivable/payable for futures variation margin | Futures 1 | $317,957 | $(647,750) |
Equity | Receivable/payable for futures variation margin | Futures 1 | 2,336,324 | (644,271) |
Currency | Unrealized appreciation / depreciation on forward foreign currency contracts | Forward foreign currency contracts | 3,030,857 | (2,804,119) |
Credit | Swap contracts, at value | Credit default swaps2 | — | (157,999) |
$5,685,138 | $(4,254,139) |
1 | Reflects cumulative appreciation/depreciation on futures as disclosed in Fund's investments. Only the period end variation margin is separately disclosed on the Statement of assets and liabilities. |
2 | Reflects cumulative value of swap contracts. Swap contracts at value, which represents OTC swaps, are shown separately on the Statement of assets and liabilities. |
Statement of operations location - Net realized gain (loss) on: | ||||||
Risk | Unaffiliated
investments and foreign currency transactions1 |
Futures contracts | Forward
foreign currency contracts |
Written options | Swap contracts | Total |
Interest rate | — | $(7,752,522) | — | — | $9,396,548 | $1,644,026 |
Currency | $511,982 | (20,461,237) | $966,313 | — | — | (18,982,942) |
Credit | — | — | — | — | 1,114,856 | 1,114,856 |
Equity | (2,415,138) | — | — | $363,476 | (2,401,436) | (4,453,098) |
Total | $(1,903,156) | $(28,213,759) | $966,313 | $363,476 | $8,109,968 | $(20,677,158) |
1 | Realized gain/loss associated with purchased options is included in this caption on the Statement of operations. |
SEMIANNUAL REPORT | JOHN HANCOCK Multi-Asset Absolute Return Fund | 43 |
Statement of operations location - Change in net unrealized appreciation (depreciation) of: | ||||||
Risk | Unaffiliated
investments and translation of assets and liabilities in foreign currencies1 |
Futures contracts | Forward
foreign currency contracts |
Written options | Swap contracts | Total |
Interest rate | — | $4,513,390 | — | — | $(9,471,784) | $(4,958,394) |
Currency | $(398,525) | — | $(1,771,938) | — | — | (2,170,463) |
Credit | — | — | — | — | (1,648,297) | (1,648,297) |
Equity | 483,955 | 1,926,101 | — | $(234,081) | 2,557,889 | 4,733,864 |
Total | $85,430 | $6,439,491 | $(1,771,938) | $(234,081) | $(8,562,192) | $(4,043,290) |
1 | Change in unrealized appreciation/depreciation associated with purchased options is included in this caption on the Statement of operations. |
44 | JOHN HANCOCK Multi-Asset Absolute Return Fund | SEMIANNUAL REPORT |
Class | Rule 12b-1 Fee | Service fee |
Class A | 0.30% | — |
Class C | 1.00% | — |
Class R2 | 0.25% | 0.25% |
SEMIANNUAL REPORT | JOHN HANCOCK Multi-Asset Absolute Return Fund | 45 |
Class | Distribution and service fees | Transfer agent fees |
Class A | $66,261 | $26,889 |
Class C | 233,458 | 28,428 |
Class I | — | 236,073 |
Class R2 | 1,502 | 43 |
Class R6 | — | 8,138 |
Total | $301,221 | $299,571 |
Borrower
or Lender |
Weighted
Average Loan Balance |
Days
Outstanding |
Weighted
Average Interest Rate |
Interest
Income (Expense) |
Borrower | $39,513,911 | 4 | 2.085% | ($9,154) |
46 | JOHN HANCOCK Multi-Asset Absolute Return Fund | SEMIANNUAL REPORT |
Six Months Ended 1-31-20 | Year Ended 7-31-19 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 263,907 | $2,405,398 | 625,188 | $6,274,834 |
Distributions reinvested | 796,538 | 7,136,984 | — | — |
Repurchased | (1,705,933) | (15,758,133) | (7,014,344) | (70,656,381) |
Net decrease | (645,488) | $(6,215,751) | (6,389,156) | $(64,381,547) |
Class C shares | ||||
Sold | 37,555 | $332,346 | 60,123 | $597,810 |
Distributions reinvested | 814,617 | 7,144,191 | — | — |
Repurchased | (1,286,877) | (11,579,524) | (4,113,011) | (40,562,259) |
Net decrease | (434,705) | $(4,102,987) | (4,052,888) | $(39,964,449) |
Class I shares | ||||
Sold | 1,868,561 | $17,306,760 | 19,544,689 | $197,475,809 |
Distributions reinvested | 7,893,840 | 71,518,197 | — | — |
Repurchased | (25,688,155) | (239,541,381) | (205,587,752) | (2,086,260,407) |
Net decrease | (15,925,754) | $(150,716,424) | (186,043,063) | $(1,888,784,598) |
Class R2 shares | ||||
Sold | 8,548 | $78,871 | 15,686 | $158,107 |
Distributions reinvested | 10,219 | 91,053 | — | — |
Repurchased | (26,752) | (243,864) | (77,295) | (781,172) |
Net decrease | (7,985) | $(73,940) | (61,609) | $(623,065) |
Class R6 shares | ||||
Sold | 253,121 | $2,373,944 | 1,684,518 | $17,501,312 |
Distributions reinvested | 2,302,851 | 20,909,885 | — | — |
Repurchased | (4,498,069) | (41,576,983) | (41,036,851) | (416,128,560) |
Net decrease | (1,942,097) | $(18,293,154) | (39,352,333) | $(398,627,248) |
Class NAV shares | ||||
Sold | 1,322,824 | $12,115,240 | 58,894 | $607,546 |
Distributions reinvested | 515,853 | 4,683,945 | — | — |
Repurchased | (620,486) | (5,717,570) | (59,948,659) | (604,241,928) |
Net increase (decrease) | 1,218,191 | $11,081,615 | (59,889,765) | $(603,634,382) |
Total net decrease | (17,737,838) | $(168,320,641) | (295,788,814) | $(2,996,015,289) |
SEMIANNUAL REPORT | JOHN HANCOCK Multi-Asset Absolute Return Fund | 47 |
48 | JOHN HANCOCK Multi-Asset Absolute Return Fund | SEMIANNUAL REPORT |
Trustees Hassell H. McClellan, Chairperson Officers Andrew G. Arnott Francis V. Knox, Jr. Charles A. Rizzo Salvatore Schiavone Christopher (Kit) Sechler |
Investment advisor John Hancock Investment Management LLC Subadvisor Nordea Investment Management North America, Inc. Portfolio Manager Dr. Asbjørn Trolle Hansen Principal distributor John Hancock Investment Management Distributors LLC Custodian Citibank, N.A. Transfer agent John Hancock Signature Services, Inc. Legal counsel K&L Gates LLP |
* Member of the Audit Committee
Non-Independent Trustee
The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund's holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund's Form N-PORT filings are available on our website and the SEC's website, sec.gov.
We make this information on your fund, as well as monthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
You can also contact us: | |||
800-225-5291 jhinvestments.com |
Regular mail: John Hancock Signature Services, Inc. |
Express mail: John Hancock Signature Services, Inc. |
John Hancock family of funds
DOMESTIC EQUITY FUNDS Blue Chip Growth Classic Value Disciplined Value Disciplined Value Mid Cap Equity Income Financial Industries Fundamental All Cap Core Fundamental Large Cap Core New Opportunities Regional Bank Small Cap Core Small Cap Growth Small Cap Value U.S. Global Leaders Growth U.S. Quality Growth GLOBAL AND INTERNATIONAL EQUITY FUNDS Disciplined Value International Emerging Markets Emerging Markets Equity Fundamental Global Franchise Global Equity Global Shareholder Yield Global Thematic Opportunities International Dynamic Growth International Growth International Small Company |
INCOME FUNDS Bond California Tax-Free Income Emerging Markets Debt Floating Rate Income Government Income High Yield High Yield Municipal Bond Income Investment Grade Bond Money Market Short Duration Bond Short Duration Credit Opportunities Strategic Income Opportunities Tax-Free Bond ALTERNATIVE AND SPECIALTY FUNDS Absolute Return Currency Alternative Asset Allocation Alternative Risk Premia Diversified Macro Infrastructure Multi-Asset Absolute Return Seaport Long/Short |
A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
ASSET ALLOCATION Balanced Income Allocation Multi-Index Lifetime Portfolios Multi-Index Preservation Portfolios Multimanager Lifestyle Portfolios Multimanager Lifetime Portfolios Retirement Income 2040 EXCHANGE-TRADED FUNDS John Hancock Multifactor Consumer Discretionary ETF John Hancock Multifactor Consumer Staples ETF John Hancock Multifactor Developed International ETF John Hancock Multifactor Emerging Markets ETF John Hancock Multifactor Energy ETF John Hancock Multifactor Financials ETF John Hancock Multifactor Healthcare ETF John Hancock Multifactor Industrials ETF John Hancock Multifactor Large Cap ETF John Hancock Multifactor Materials ETF John Hancock Multifactor Media and John Hancock Multifactor Mid Cap ETF John Hancock Multifactor Small Cap ETF John Hancock Multifactor Technology ETF John Hancock Multifactor Utilities ETF |
ENVIRONMENTAL, SOCIAL, AND ESG All Cap Core ESG Core Bond ESG International Equity ESG Large Cap Core CLOSED-END FUNDS Financial Opportunities Hedged Equity & Income Income Securities Trust Investors Trust Preferred Income Preferred Income II Preferred Income III Premium Dividend Tax-Advantaged Dividend Income Tax-Advantaged Global Shareholder Yield |
John Hancock Multifactor ETF shares are bought and sold at market
price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and
are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Investment Management
Distributors LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock
in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does
not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock
Multifactor ETFs.
John Hancock Investment Management
A trusted brand
John Hancock Investment Management is a premier asset manager
representing one of America's most trusted brands, with a heritage of
financial stewardship dating back to 1862. Helping our shareholders
pursue their financial goals is at the core of everything we do. It's why
we support the role of professional financial advice and operate with
the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world's best
managers, along with strong risk-adjusted returns across asset classes.
John Hancock Investment Management Distributors LLC
n Member FINRA, SIPC
200 Berkeley Street
n Boston, MA 02116-5010
n 800-225-5291
n jhinvestments.com
This report is for the information of the shareholders of John Hancock Multi-Asset Absolute Return. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF1078041 | 395SA 1/20 3/2020 |
ITEM 2. CODE OF ETHICS.
(a) Not Applicable
(b) Not Applicable
(c) Not Applicable
(d) Not Applicable
(e) Not Applicable
(f) Not Applicable
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Not Applicable
(e) Not Applicable
(f) Not Applicable.
(g) Not Applicable
(h) Not Applicable
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS
Not Applicable.
ITEM 6. SCHEDULE OF INVESTMENTS.
(a) Included with Item 1.
(b) Not Applicable.
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not Applicable.
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not Applicable.
ITEM 9. PURCHASE OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANIES AND AFFILIATED PURCHASERS.
Not Applicable.
ITEM 10. SUBMISSION OF MATTERS TO VOTE OF SECURITY HOLDERS.
Not Applicable.
ITEM 11. CONTROLS AND PROCEDURES.
(a) |
EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES. The Registrant maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in this Form N-CSR is recorded, processed, summarized and reported within the periods specified in the rules and forms of the Securities and Exchange Commission. Such disclosure controls and procedures include controls and procedures designed to ensure that such information is accumulated and communicated to the Registrant's management, including its principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure. Within 90 days prior to the filing date of this Form N-CSR, the Registrant had carried out an evaluation, under the supervision and with the participation of the Registrant's management, including the Registrant's principal executive officer and the Registrant's principal financial officer, of the effectiveness of the design and operation of the Registrant's disclosure controls and procedures relating to information required to be disclosed on Form N-CSR. Based on such evaluation, the Registrant's principal executive officer and principal financial officer concluded that the Registrant's disclosure controls and procedures are operating effectively to ensure that: (i) information required to be disclosed in this Form N-CSR is recorded, processed, summarized and reported within the periods specified in the rules and forms of the Securities and Exchange Commission, and (ii) information is accumulated and communicated to the Registrant’s management, including its principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure. | ||
| |||
(b) |
CHANGE IN REGISTRANT’S INTERNAL CONTROL: Not Applicable. |
ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 13. EXHIBITS.
(a)(1) Separate certifications for the registrant's principal executive officer and principal financial officer, as required by Section 302 of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the Investment Company Act of 1940, are attached.
(b)(1) Separate certifications for the registrant's principal executive officer and principal financial officer, as required by 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, and Rule 30a-2(b) under the Investment Company Act of 1940, are attached. The certifications furnished pursuant to this paragraph are not deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section. Such certifications are not deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent that the Registrant specifically incorporates them by reference.
(c)(1) Submission of Matters to a Vote of Security Holders is attached. See attached “John Hancock Funds – Nominating and Governance Committee Charter”.
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 |
/s/ Andrew G. Arnott |
Andrew G. Arnott |
President |
Date: March 9, 2020 |
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.
/s/ Andrew G. Arnott |
Andrew G. Arnott |
President |
Date: March 9, 2020 |
/s/ Charles A. Rizzo |
Charles A. Rizzo |
Chief Financial Officer |
Date: March 9, 2020 |
Exhibit 13(a) (1) (i)
I, Andrew G. Arnott, certify that:
1. |
I have reviewed this report on Form N-CSR of John Hancock Funds II; | |||
2. |
Based on my knowledge, this report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statement made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; | |||
| ||||
3. |
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial conditions, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; | |||
| ||||
4. |
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: | |||
| ||||
(a) |
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; | |||
| ||||
(b) |
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; | |||
| ||||
(c) |
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and | |||
| ||||
(d) |
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and | |||
| ||||
5. |
The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): | |||
| ||||
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and | |||
| ||||
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
Date: March 9, 2020 | /s/ Andrew G. Arnott |
Andrew G. Arnott | |
President |
Exhibit 13(a) (1) (ii)
I, Charles A. Rizzo, certify that:
1. |
I have reviewed this report on Form N-CSR of John Hancock Funds II; | |||
2. |
Based on my knowledge, this report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statement made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; | |||
| ||||
3. |
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial conditions, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; | |||
| ||||
4. |
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: | |||
| ||||
(a) |
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; | |||
| ||||
(b) |
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; | |||
| ||||
(c) |
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and | |||
| ||||
(d) |
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and | |||
| ||||
5. |
The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): | |||
| ||||
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and | |||
| ||||
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
Date: March 9, 2020 | /s/ Charles A. Rizzo |
Charles A. Rizzo | |
Chief Financial Officer |
Exhibit 13(b)
CERTIFICATIONS*
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO SECTION 906
OF THE SARBANES-OXLEY ACT OF 2002
I, Andrew G. Arnott, President of John Hancock Funds II (the "Registrant"), certify, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:
1. |
The Registrant's periodic report on Form N-CSR for the period ended 1/31/2020 (the "Form N-CSR") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and | ||
2. |
The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant. |
Dated: March 9, 2020 |
/s/ Andrew G. Arnott |
Andrew G. Arnott |
President |
A signed original of this written statement required by Section 906 has been provided to John Hancock Funds II and will be retained by John Hancock Funds II and furnished to the Securities and Exchange Commission or its Staff upon request.
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO SECTION 906
OF THE SARBANES-OXLEY ACT OF 2002
I, Charles A. Rizzo, Chief Financial Officer of John Hancock Funds II (the "Registrant"), certify, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:
1. |
The Registrant's periodic report on Form N-CSR for the period ended 1/31/2020 (the "Form N-CSR") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and | ||
2. |
The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant. |
Dated: March 9, 2020 |
/s/ Charles A. Rizzo |
Charles A. Rizzo |
Chief Financial Officer |
A signed original of this written statement required by Section 906 has been provided to John Hancock Funds II and will be retained by John Hancock Funds II and furnished to the Securities and Exchange Commission or its Staff upon request.
* | These certifications are being furnished solely pursuant to 18 U.S.C. Section 1350 and are not being filed as part of this Form N-CSR or as a separate disclosure document. |
JOHN HANCOCK FUNDS1
NOMINATING AND GOVERNANCE COMMITTEE CHARTER
Overall Role and Responsibility
The Nominating and Governance Committee (the “Committee”) of each of the Trusts shall (1) make determinations and recommendations to the Board of Trustees (the “Board”) regarding issues related to (a) the composition of the Board and (b) corporate governance matters applicable to the Trustees who are not “interested persons” as defined in the Investment Company Act of 1940, as amended (the “1940 Act”), of any of the Trusts, or of any Fund’s investment adviser, subadviser or principal underwriter and who are “independent” as defined in the rules of the New York Stock Exchange (“NYSE”) (the “Independent Trustees”) and (2) discharge such additional duties, responsibilities and functions as are delegated to it from time to time.
Membership
The Nominating and Governance Committee (the “Committee”) shall be composed of all of the Independent Trustees of the Board. One member of the Committee shall be appointed by the Board as Chair of the Committee. The chair shall be responsible for leadership of the Committee, including scheduling meetings or reviewing and approving the schedule for them, preparing agendas or reviewing and approving them before meetings, presiding over meetings of the Committee and making reports to the full Board, as appropriate.
Structure, Operations and Governance
Meetings and Actions by Written Consent. The Committee shall meet as often as required or as the Committee deems appropriate, with or without management present. Meetings may be called and notice given by the Committee chair or a majority of the members of the Committee. Members may attend meetings in person or by telephone. The Committee may act by written consent to the extent permitted by law and the Funds’ governing documents. The Committee shall report to the Board on any significant action it takes not later than the next following Board meeting.
Required Vote and Quorum. The affirmative vote of a majority of the members of the Committee participating in any meeting of the Committee at which a quorum is present is necessary for the adoption of any resolution. At least a majority of the Committee members present at the meeting in person or by telephone shall constitute a quorum for the transaction of business.
1 “John Hancock Funds” includes each trust and series as may be amended from time to time (each individually, a “Trust,” and collectively, the “Trusts,” and each series thereof, a “Portfolio” or “Fund,” and collectively, the “Portfolios” or “Funds”).
1
Delegation to Subcommittees. The Committee may delegate any portion of its authority to a subcommittee of one or more members.
Appropriate Resources and Authority. The Committee shall have the resources and authority appropriate to discharge its responsibilities, including the authority to retain special counsel and other advisers, experts or consultants, at the Funds’ expense, as it determines necessary or appropriate to carry out its duties and responsibilities. In addition, the Committee shall have direct access to such officers of and service providers to the Funds as it deems desirable.
Review of Charter. The Committee Charter shall be approved by at least a majority of the Independent Trustees of the Trust. The Committee shall review and assess the adequacy of this Charter periodically and, where necessary or as it deems desirable, will recommend changes to the Board for its approval. The Board may amend this Charter at any time in response to recommendations from the Committee or on its own motion.
Executive Sessions. The Committee may meet privately and may invite non-members to attend such meetings. The Committee may meet with representatives of the Investment Management Services department of the Funds’ advisers, internal legal counsel of the Funds’ advisers, members of the John Hancock Funds Risk & Investment Operations Committee (the “RIO Committee”) and with representatives of the Funds’ service providers, including the subadvisers, to discuss matters that relate to the areas for which the Committee has responsibility.
Specific Duties and Responsibilities
The Committee shall have the following duties and powers, to be exercised at such times and in such manner as the Committee shall determine:
1. | Except where a Trust is legally required to nominate individuals recommended by another, to identify individuals qualified to serve as Independent Trustees of the Trusts, and to consider and recommend to the full Board nominations of individuals to serve as Trustees. | |
2. | To consider, as it deems necessary or appropriate, the criteria for persons to fill existing or newly created Trustee vacancies. The Committee shall use the criteria and principles set forth in Annex A to guide its Trustee selection process. | |
3. | To consider and recommend changes to the Board regarding the size, structure, and composition of the Board. | |
4. | To evaluate, from time to time, and determine changes to the retirement policies for the Independent Trustees, as appropriate. | |
5. | To periodically review the Board’s committee structure and, in collaboration with the Chairs of the various Committees, the charters of the Board’s committees, and recommend to the Board of Trustees changes to the committee structure and charters as it deems appropriate. |
2
6. | To retain and terminate any firm(s) to be used to identify or evaluate or assist in identifying or evaluating potential Independent Board nominees, subject to the Board’s sole authority to approve the firm’s fees and other retention terms. | |
7. | To consider and determine the amount of compensation to be paid by the Trusts to the Independent Trustees, including the compensation of the Chair of the Board or any Vice-Chair of the Board and of Committee Chairs, and to address compensation-related matters. The Chair of the Board has been granted the authority to approve special compensation to Independent Trustees in recognition of any significant amount of additional time and service to the Trusts provided by them, subject to ratification of any such special compensation by the Committee at the next regular meeting of the Committee. | |
8. | To coordinate and administer an annual self-evaluation of the Board, which will include, at a minimum, a review of its effectiveness in overseeing the number of Funds in the Fund complex and the effectiveness of its committee structure. | |
9. | To review the Board Governance Procedures and recommend to the Board of Trustees changes to the Procedures as the Committee deems appropriate. | |
10. | To report its activities to the full Board and to make such recommendations with respect to the matters described above and other matters as the Committee may deem necessary or appropriate. |
Additional Responsibilities
The Committee will also perform other tasks assigned to it from time to time by the Chair of the Board or by the Board, and will report findings and recommendations to the Board, as appropriate.
Last revised:
3
ANNEX A
The Committee may take into account a wide variety of factors in considering Trustee candidates, including (but not limited to) the criteria set forth below. The Committee may determine that a candidate who does not satisfy these criteria in one or more respects should nevertheless be considered as a nominee if the Committee finds that the criteria satisfied by the candidate and the candidate’s other qualifications demonstrate the appropriate level of fitness to serve.
General Criteria
1. | Nominees should have a reputation for integrity, honesty and adherence to high ethical standards, and such other personal characteristics as a capacity for leadership and the ability to work well with others. |
2. | Nominees should have business, professional, academic, financial, accounting or other experience and qualifications which demonstrate that they will make a valuable contribution as Trustees. |
3. | Nominees should have a commitment to understand the Funds, and the responsibilities of a trustee/director of an investment company and to regularly attend and participate in meetings of the Board and its committees. |
4. | Nominees should have the ability to understand the sometimes conflicting interests of the various constituencies of the Funds, including shareholders and the investment adviser, and to act in the interests of all shareholders. |
5. | Nominees should not have, nor appear to have, a conflict of interest that would impair their ability to represent the interests of all the shareholders and to fulfill the responsibilities of a trustee. |
6. | Nominees should have experience on corporate or other institutional bodies having oversight responsibilities. |
It is the intent of the Committee that at least one Independent Trustee be an “audit committee financial expert” as that term is defined in Item 3 of Form N-CSR.
Application of Criteria to Current Trustees
The re-nomination of current Trustees should not be viewed as automatic, but should be based on continuing qualification under the criteria set forth above based on, among other things, the current Trustee’s contribution to the Board and any committee on which he or she serves.
Review of Nominations
1. | The Committee believes that it is in the best interests of each Trust and its shareholders to obtain highly-qualified candidates to serve as members of the Board. |
2. | In nominating candidates who would be Independent Trustees, the Committee believes that no particular qualities or skills nor any specific minimum qualifications or disqualifications are controlling or paramount. The Committee shall take into consideration any such factors as it deems appropriate; however, the appropriate mix of skills, expertise and attributes needed to maintain an effective board are sought in the applicant pool as part of every search the Board undertakes for new trustees, including but not limited to the diversity of thought, as well as of gender, race, ethnic background and geographic origin. These factors may also include (but are not limited to) the person’s character, integrity, judgment, skill and experience with investment companies and other organizations of comparable purpose, complexity and size and subject to similar legal restrictions and oversight; the interplay of the candidate’s experience with the experience of other Board members; and the extent to which the candidate would be a desirable addition to the Board and any Committees thereof. Other factors that the Committee may take into consideration include a person’s availability and commitment to attend meetings and perform his or her responsibilities; whether or not the person has or had any relationships that might impair or appear to impair his or her independence, such as any business, financial or family relationships with Fund management, the investment adviser and/or any subadviser of the Funds, as applicable, Fund service providers, or their affiliates or with Fund shareholders. The Committee will strive to achieve a group that reflects a diversity of experiences in respect of industries, professions and other experiences, and that is diversified as to thought, gender, race, ethnic background and geographic origin. |
3. | While the Committee is solely responsible for the selection and recommendation to the Board of Independent Trustee candidates, the Committee may consider nominees recommended by any source, including shareholders, management, legal counsel and Board members, as it deems appropriate. The Committee may retain a professional search firm or a consultant to assist the Committee in a search for a qualified candidate. Any recommendations from shareholders shall be directed to the Secretary of the relevant Trust at such address as is set forth in the Trust’s disclosure documents. Recommendations from management may be submitted to the Committee Chair. All recommendations shall include all information relating to such person that is required to be disclosed in solicitations of proxies for the election of Board members and as specified in the relevant Trust’s By-Laws, and must be accompanied by a written consent of the proposed candidate to stand for election if nominated for the Board and to serve if elected by shareholders. |
4. | Any shareholder nomination must be submitted in compliance with all of the pertinent provisions of Rule 14a-8 under the Securities Exchange Act of 1934 in order to be considered by the Committee. In evaluating a nominee recommended by a shareholder, the Committee, in addition to the criteria discussed above, may consider the objectives of the shareholder in submitting that nomination and whether such objectives are consistent with the interests of all shareholders. If the Board determines to include a shareholder’s candidate among the slate of its designated nominees, the candidate’s name will be placed on the Trust’s proxy card. If the Board determines not to include such candidate among its designated nominees, and the shareholder has satisfied the requirements of Rule 14a-8, the shareholder’s candidate will be treated as a nominee of the shareholder who originally nominated the candidate. In that case, the candidate will not be named on the proxy card distributed with the Trust’s proxy statement. |
5. | As long as a current Independent Trustee continues, in the opinion of the Committee, to satisfy the criteria listed above, the Committee generally would favor the re-nomination of a current Trustee rather than a new candidate. Consequently, while the Committee will consider nominees recommended by shareholders to serve as trustees, the Committee may only act upon such recommendations if there is a vacancy on the Board, or the Committee determines that the selection of a new or additional Trustee is in the best interests of the relevant Trust. In the event that a vacancy arises or a change in Board membership is determined to be advisable, the Committee will, in addition to any shareholder recommendations, consider candidates identified by other means as discussed in this Annex A. |
6. | With respect to candidates for Independent Trustee, a biography of each candidate shall be acquired and shall be reviewed by counsel to the Independent Trustees and counsel to the Trust to determine the candidate’s eligibility to serve as an Independent Trustee. |
7. | The Committee may from time to time establish specific requirements and/or additional factors to be considered for Independent Trustee candidates as it deems necessary or appropriate. |
8. | After its consideration of relevant factors, the Committee shall present its recommendation(s) to the full Board for its consideration. |
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