John Hancock Sovereign Bond Fund, May 1, 1994              
                    John Hancock Growth Fund, May 1, 1994              
               John Hancock Special Value Fund, April 1, 1994              
             John Hancock Sovereign Investors Fund, May 1, 1994              
             John Hancock Sovereign Balanced Fund, May 1, 1994              
          John Hancock Limited Term Government Fund, May 1, 1994              
             John Hancock Global Technology Fund, May 1, 1994              
       John Hancock National Aviation & Technology Fund, May 1, 1994          
              John Hancock Tax-Exempt Income Fund, May 1, 1994              

                  Supplement to Class A and Class B Prospectus

The "Qualifying for a Reduced Sales Charge" section under SHARE PRICE is 
supplemented as follows:

     Effective March 15, 1995, participant directed defined contribution plans
     with at least 100 eligible employees at the inception of the Fund account
     may purchase Class A shares of the Fund without an initial sales charge but
     if the shares are redeemed within 12 months after the end of the calendar
     year in which the purchase was made, a contingent deferred sales charge
     will be imposed at the rate for Class A shares described in the prospectus.

March 15, 1995


 
JOHN HANCOCK 
SOVEREIGN 
BOND FUND 

                          Class A and Class B Shares 
                                  Prospectus 
                                 May 1, 1994 


TABLE OF CONTENTS 


                                                     PAGE 
                                                   
Expense Information                                    2 
The Fund's Financial Highlights                        3 
Investment Objective and Policies                      5 
Organization and Management of the Fund                8 
Alternative Purchase Arrangements                      8 
The Fund's Expenses                                   10 
Dividends and Taxes                                   10 
Performance                                           11 
How to Buy Shares                                     12 
Share Price                                           14 
How to Redeem Shares                                  18 
Additional Services and Programs                      20 
Institutional Investors                               23 
Appendix                                              24 

This Prospectus sets forth information about John Hancock Sovereign Bond Fund 
(the "Fund") that you should know before investing. Please read and retain it 
for future reference. 

Additional information about the Fund has been filed with the Securities and 
Exchange Commission (the "SEC"). You can obtain a copy of the Fund's 
Statement of Additional Information, dated May 1, 1994, and incorporated by 
reference in this Prospectus, free of charge by writing or telephoning: John 
Hancock Fund Services, Inc., P.O. Box 9116, Boston, Massachusetts 02205-9116, 
1-800-225-5291, (1-800-554-6713 TDD). 

Shares of the Fund are not deposits or obligations of, or guaranteed or 
endorsed by, any bank, and the shares are not federally insured by the 
Federal Deposit Insurance Corporation, the Federal Reserve Board, or any 
other agency. 

THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND 
EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE SECURITIES 
AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE 
ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY 
IS A CRIMINAL OFFENSE. 


 
EXPENSE INFORMATION 

The purpose of the following information is to help you understand the 
various fees and expenses that you will bear, directly or indirectly when you 
purchase shares of the Fund. The operating expenses included in the table and 
hypothetical example below are based on fees and expenses for the Class A 
shares and Class B shares of the Fund for the fiscal year ended December 31, 
1993, adjusted to reflect current fees and expenses. Actual fees and expenses 
of Class A shares and Class B shares may be greater or less than those 
indicated. 


                                     Class A                         Class B 
                                    Shares**                         Shares** 
                                                                 
Shareholder Transaction 
  Expenses 
Maximum sales charge imposed 
  on purchases (as a 
  percentage of offering 
  price)                              4.50%                            None 
Maximum sales charge imposed 
  on reinvested dividends             None                             None 
Maximum deferred sales charge         None*                            5.00% 
Redemption fee+                       None                             None 
Exchange fee                          None                             None 
Annual Fund Operating Expenses 
  (as a percentage of average 
  net assets) 
Management fee                        0.50%                            0.50% 
12b-1 fee***                          0.30%                            1.00% 
Other expenses                        0.45%                            0.27% 
Total Fund operating expenses         1.25%                            1.77% 

*No sales charge is payable at the time of purchase on investments of $1 
million or more, but for these investments a contingent deferred sales charge 
may be imposed, as described under the caption "Share Price," in the event of 
certain redemption transactions within one year of purchase. 

**The information set forth in the foregoing table relates only to the Class 
A shares and Class B shares. The Board of Trustees has authorized the 
issuance of three classes of the Fund, designated Class A, Class B and Class 
C. See "Organization and Management of the Fund." Class C shares are only 
offered to certain institutional investors and are described in a separate 
prospectus. Some individual investors who are currently eligible to purchase 
Class A and Class B shares may also be participants in plans that are 
eligible to purchase Class C shares. See "Institutional Investors." Class C 
shares are not subject to a sales charge on purchases, redemptions, or 
reinvested dividends, nor are they subject to deferred sales charges or an 
exchange fee. Class C expenses are identical to those of Class A shares 
except that the transfer agent fee may differ and there is no 12b-1 Fee on 
Class C shares. 
***The amount of the 12b-1 fee used to cover service expenses will be up to 
0.25% of the Fund's average daily net assets, and the remaining portion will 
be used to cover distribution expenses. See "The Fund's Expenses." 

+Redemption by wire fee (currently $4.00) not included. 


                                             Example:                                                1 Year    3 Years    5 Years 
       10 Years 
                                                                                                                       
You would pay the following expenses for the indicated period of years on a hypothetical $1,000 
  investment, assuming 5% annual return: 
Class A Shares                                                                                         $57       $83        $111  
         $189 
Class B Shares 
 -- Assuming complete redemption at end of period                                                      $68       $86        $116  
         $208 
 -- Assuming no redemption                                                                             $18       $56        $ 96  
         $208 

You would pay the following expenses for the indicated period of years on a 
hypothetical $1,000 investment in Class C shares, assuming a 5% annual 
return: 1 year, $7; 3 years, $21; 5 years, $36; and 10 years, $81. 
(This example should not be considered a representation of past or future 
expenses. Actual expenses may be greater or less than those shown.) 

The Fund's payment of a distribution fee may result in a long-term 
shareholder indirectly paying more than the economic equivalent of the 
maximum front-end sales charge permitted under the National Association of 
Securities Dealers Rules of Fair Practice. 

The management and 12b-1 fees referred to above are more fully explained in 
this Prospectus under the caption "The Fund's Expenses" and in the Statement 
of Additional Information under the captions "Investment Advisory and Other 
Services" and "Distribution Contract." 

THE FUND'S FINANCIAL HIGHLIGHTS 

The following table of Financial Highlights has been audited by Ernst & 
Young, the Fund's independent auditors for the fiscal year ended December 31, 
1993, whose unqualified report is included in the Fund's 1993 Annual Report 
and is included in the Statement of Additional Information. 

Selected data for each class of shares outstanding throughout each period 
indicated are as follows: 


                                                          YEAR ENDED DECEMBER 31, 
                           1993     1992      1991     1990    1989     1988     1987    1986     1985     1984 
                                                                            
CLASS A 
Per Share Operating 
  Performance 
Net Asset Value, 
  Beginning of Period     $15.29   $15.31   $14.33   $14.77   $14.51   $14.53  $15.89   $15.85   $14.36   $13.99 
Net Investment Income       1.14     1.20     1.29     1.32     1.43     1.44    1.40     1.55     1.62     1.62 
Net Realized & 
  Unrealized Gain 
  (Loss) on Investments 
  and Financial Futures 
  Contracts                 0.62    (0.01)    0.98    (0.40)    0.27    (0.06)  (1.17)    0.52     1.40     0.35 
  Total from Investment 
  Operations                1.76     1.19     2.27     0.92     1.70     1.38    0.23     2.07     3.02     1.97 
Dividends from Net 
  Investment Income        (1.14)   (1.21)   (1.29)   (1.35)   (1.44)   (1.40)  (1.53)   (1.53)   (1.53)   (1.60) 
Distributions to 
  Shareholders from 
  Capital Paid-In           --       --       --      (0.01)    --       --      --       --       --       -- 
Distributions from Net 
  Realized Gain on 
  Investments Sold and 
  Financial Futures 
  Contracts                (0.38)    --       --       --       --       --     (0.06)   (0.50)    --       -- 
  Total Distributions      (1.52)   (1.21)   (1.29)   (1.36)   (1.44)   (1.40)  (1.59)   (2.03)   (1.53)   (1.60) 
Net Asset Value, End of 
  Period                  $15.53   $15.29   $15.31   $14.33   $14.77   $14.51  $14.53   $15.89   $15.85   $14.36 
Total Investment Return 
  at Net Asset Value 
  (Value Unaudited)        11.80%    8.08%   16.59%    6.71%   12.13%    9.82%   1.58%   13.67%   22.35%   15.34% 
Ratios and Supplemental 
  Data 
Net Assets, End of 
  period (000,000's 
  omitted)                $1,506   $1,386   $1,250   $1,103   $1,110   $1,104  $1,095   $1,152   $1,016   $  829 
Ratio of Expenses to 
  Average Net Assets        1.41%    1.44%    1.27%    1.31%    0.80%    0.82%   0.82%    0.72%    0.79%    0.79% 
Ratio of Net Investment 
  Income to Average Net 
  Assets                    7.18%    7.89%    8.81%    9.18%    9.68%    9.77%   9.32%    9.65%   10.95%   11.85% 
Portfolio Turnover Rate      107%      87%      90%      92%      64%      66%    159%     163%     100%      47% 



 
THE FUND'S FINANCIAL HIGHLIGHTS (CONTINUED) 


                                                                               1993 
                                                                           
CLASS B(a) 
Per Share Operating Performance 
Net Asset Value, Beginning of Period                                          $15.90(e) 
Net Investment Income                                                           0.11 
Net Realized & Unrealized Gain (Loss) on Investments and Financial 
  Futures Contracts                                                               -- 
  Total from Investment Operations                                              0.11 
Dividends from Net Investment Income                                           (0.11) 
Distributions to Shareholders from Capital Paid-In                                -- 
Distributions from Net Realized Gain on Investments Sold and Financial 
  Futures Contracts                                                            (0.38) 
  Total Distributions                                                          (0.49) 
Net Asset Value, End of Period                                                $15.52 
Total Investment Return at Net Asset (Value Unaudited)                          0.90%(c) 
Ratios and Supplemental Data 
Net Assets, End of period (000,000's omitted)                                 $4,125 
Ratio of Expenses to Average Net Assets                                         1.63%(d) 
Ratio of Net Investment Income to Average Net Assets                            0.57%(d) 
Portfolio Turnover Rate                                                          107% 

                                                                                1993 
CLASS C(b) 
Per Share Operating Performance 
Net Asset Value, Beginning of Period                                          $15.86(e) 
Net Investment Income                                                           0.81 
Net Realized & Unrealized Gain (Loss) on Investments and Financial 
  Futures Contracts                                                             0.04 
  Total from Investment Operations                                              0.85 
Dividends from Net Investment Income                                           (0.81) 
Distributions to Shareholders from Capital Paid-In                                -- 
Distributions from Net Realized Gain on Investments Sold and Financial 
  Futures Contracts                                                            (0.38) 
  Total Distributions                                                          (1.19) 
Net Asset Value, End of Period                                                $15.52 
Total Investment Return at Net Asset (Value Unaudited)                          5.45%(c) 
Ratios and Supplemental Data 
Net Assets, End of period (000,000's omitted)                                 $  867 
Ratio of Expenses to Average Net Assets                                         0.90%(d) 
Ratio of Net Investment Income to Average Net Assets                            4.90%(d) 
Portfolio Turnover Rate                                                          107% 

  (A) CLASS B SHARES COMMENCED OPERATIONS ON NOVEMBER 23, 1993. 
  (B) CLASS C SHARES COMMENCED OPERATIONS ON MAY 7, 1993. 
  (C) TOTAL RETURN FOR THE PERIOD IS ON A CUMULATIVE BASIS. 
  (D) ON AN ANNUALIZED BASIS. 
  (E) INITIAL PRICE TO COMMENCE OPERATIONS. 


 
INVESTMENT OBJECTIVE AND POLICIES 

The investment objective of the Fund is to generate a high level of current 
income consistent with prudent investment risk. 

The Fund's investment objective is to generate a high level of current 
income, consistent with prudent investment risk, through investment in a 
diversified portfolio of freely marketable debt securities. The Fund's 
Adviser seeks high current income consistent with the moderate level of risk 
associated with a portfolio consisting primarily of investment grade debt 
securities. 

Under normal market conditions, at least 65% of the value of the Fund's 
assets will be in bonds and/or debentures. In addition, the Fund contemplates 
that at least 75% of the value of its total investments in debt securities 
(other than commercial paper) will be represented by those securities which 
have, at the time of purchase, a rating within the four highest grades as 
determined by Moody's Investors Service, Inc. ("Moody's") (Aaa, Aa, A or Baa) 
or Standard & Poor's Corporation ("S&P") (AAA, AA, A, or BBB) and debt 
securities of banks, the U.S. Government and its agencies or 
instrumentalities and other issuers which, although not rated as a matter of 
policy by either Moody's or S&P, are considered by the Fund to have 
investment quality comparable to securities receiving ratings within the four 
highest grades. Debt securities rated Baa or BBB are considered medium grade 
obligations with speculative characteristics and adverse economic conditions 
or changing circumstances may weaken their issuers' capacity to pay interest 
and repay principal. The Fund will diversify its investments among a number 
of industry groups without concentration in any particular industry. The 
Fund's investments, and consequently, its net asset value, will be subject to 
the market fluctuations and risks inherent in all securities and there is no 
assurance that the Fund's investment objective will always be achieved. 

The Fund may employ certain investment strategies to help achieve its 
investment objective. 

Securities of domestic and foreign issuers. The Fund may invest in U.S. 
dollar- denominated securities of foreign and United States issuers which are 
issued in or outside of the U.S. Foreign companies may not be subject to 
accounting standards and government supervision comparable to U.S. companies 
and there is often less publicly available information about their 
operations. Foreign markets generally provide less liquidity than U.S. 
markets (and thus potentially greater price volatility) and typically provide 
fewer regulatory protections for investors. Foreign securities can also be 
affected by political or financial instability abroad. It is anticipated that 
under normal conditions, the Fund will not invest more than 25% of its total 
assets in foreign securities (excluding U.S. dollar-denominated Canadian 
securities). 

Futures and Option Contracts. The Fund may buy and sell financial futures 
contracts and options on futures contracts. The Fund's ability to hedge 
successfully will depend on the ability of John Hancock Advisers, Inc. (the 
"Adviser") to predict accurately the future direction of interest rate 
changes and other market factors. There is no assurance that a liquid market 
for futures and options will always exist. In addition, the Fund could be 
prevented from opening, or realizing the benefits of closing out, a futures 
or options position because of position limits or limits on daily price 
fluctuations imposed by an exchange. 

The Fund may engage in transactions in futures contracts and options on 
futures contracts for hedging and speculative purposes. All of the Fund's 
futures contracts and options on futures contracts will be traded on a U.S. 
commodity exchange or board 


 
of trade. The Fund will not engage in a transaction in futures or options on 
futures for speculative purposes if, immediately thereafter, the sum of 
initial margin deposits and premiums required to establish speculative 
positions in futures contracts and options on futures would exceed 5% of the 
Fund's total assets. 

Lower Rated Securities. The Fund may invest up to 25% of the value of its 
total assets in fixed income securities rated below Baa by Moody's or below 
BBB by S&P or in securities which are unrated. The Fund may invest in 
securities rated as low as Ca by Moody's or CC by S&P, which may indicate 
that the obligations are speculative to a high degree and often in default. 
Lower rated securities are generally referred to as junk bonds. See the 
Appendix attached to this Prospectus and the Statement of Additional 
Information, respectively, for the distribution of securities in the various 
ratings categories and a description of the characteristics of the 
categories. The Fund is not obligated to dispose of securities whose issuers 
subsequently are in default or which are downgraded below the above-stated 
ratings. The Fund may invest in unrated securities which, in the opinion of 
the Adviser, offer comparable yields and risks to those securities which are 
rated. 

Debt obligations rated in the lower ratings categories, or which are unrated, 
involve greater volatility of price and risk of loss of principal and income. 
In addition, lower ratings reflect a greater possibility of an adverse change 
in financial condition affecting the ability of the issuer to make payments 
of interest and principal. 

The market price and liquidity of lower rated fixed income securities 
generally respond to short-term economic, corporate and market developments 
to a greater extent than do higher rated securities, because these 
developments are perceived to have a more direct relationship to the ability 
of an issuer of lower rated securities to meet its ongoing debt obligations. 

Reduced volume and liquidity in the high yield bond market or the reduced 
availability of market quotations will make it more difficult to dispose of 
the bonds and to value accurately the Fund's assets. The reduced availability 
of reliable, objective data may increase the Fund's reliance on management's 
judgment in valuing the high yield bonds. To the extent that the Fund invests 
in these securities, the achievement of the Fund's objective will depend more 
on the Adviser's judgment and analysis than would otherwise be the case. In 
addition, the Fund's investments in high yield securities may be susceptible 
to adverse publicity and investor perceptions, whether or not justified by 
fundamental factors. In the past, economic downturns and increases in 
interest rates have caused a higher incidence of default by the issuers of 
such securities and may do so in the future, particularly with respect to 
highly leveraged issuers. The market prices of zero coupon and 
payment-in-kind bonds are affected to a greater extent by interest rate 
changes, and thereby tend to be more volatile than securities which pay 
interest periodically and in cash. Increasing rate note securities are 
typically refinanced by the issuers within a short period of time. The Fund 
accrues income on these securities for tax and accounting purposes, which 
income is required to be distributed to shareholders. Because no cash is 
received, and income accrues on these securities, the Fund may be forced to 
liquidate other investments to make these distributions. 

The Fund may acquire individual securities of any maturity and is not subject 
to any limits as to the average maturity of its overall portfolio. The longer 
the Fund's average 


 
portfolio maturity, the more the value of the portfolio and the net asset 
value of the Fund's shares will fluctuate in response to changes in interest 
rates. An increase in interest rates will generally decrease the value of the 
Fund's portfolio securities and the Fund's shares, while a decline in 
interest rates will generally increase their value. 

Restricted Securities. The Fund may purchase restricted securities, including 
those eligible for resale to "qualified institutional buyers" pursuant to 
Rule 144A under the Securities Act of 1933 (the "Securities Act"), subject to 
a nonfundamental restriction limiting all illiquid securities held by the 
Fund to not more than 15% of the Fund's net assets. The Trustees will 
carefully monitor the Fund's investments in these securities, focusing on 
certain factors, including valuation, liquidity and availability of 
information. This investment practice could have the effect of increasing the 
level of illiquidity in the Fund to the extent that qualified institutional 
buyers become for a time uninterested in purchasing these restricted 
securities. 

Repurchase Agreements, Forward Commitments and When-Issued Securities. The 
Fund may enter into repurchase agreements and may purchase securities on a 
forward or when-issued basis. In a repurchase agreement, the Fund buys a 
security subject to the right and obligation to sell it back at a higher 
price. These transactions must be fully collateralized at all times, but 
involve some credit risk to the Fund if the other party defaults on its 
obligation and the Fund is delayed or prevented from liquidating the 
collateral. The Fund will segregate in a separate account cash or liquid, 
high grade debt securities equal in value to its forward commitments and 
when- issued securities. Purchasing debt securities for future delivery or on 
a when-issued basis may increase the Fund's overall investment exposure and 
involves a risk of loss if the value of the securities declines before the 
settlement date. 

Short-term Trading. Short-term trading means the purchase and subsequent sale 
of a security after it has been held for a relatively brief period of time. 
The Fund engages in short-term trading in response to changes in interest 
rates or other economic trends and developments, or to take advantage of 
yield disparities between various fixed-income securities in order to realize 
capital gains or improve income. Portfolio turnover rates of the Fund for 
recent periods are shown in the section "The Fund's Financial Highlights." 

The Fund follows certain policies, which may help reduce investment risk. 

The Fund has adopted certain fundamental investment restrictions which are 
detailed in the Statement of Additional Information, where they are 
classified as fundamental or nonfundamental. The Fund's investment objective 
and those investment restrictions designated as fundamental may not be 
changed without shareholder approval. All other investment policies and 
restrictions, however, are nonfundamental and can be changed by a vote of the 
Trustees without shareholder approval. 

Brokers are chosen based on best price and execution. 

When choosing brokerage firms to carry out the Fund's transactions, the 
primary consideration is execution at the most favorable prices, taking into 
account the broker's professional ability and quality of service. 
Consideration may also be given to the broker's sales of Fund shares. 
Pursuant to procedures determined by the Trustees, the Adviser may place 
securities transactions with brokers affiliated with the Adviser. These 
brokers include Tucker Anthony Incorporated and Sutro & Company, Inc. They 
are indirectly owned by John Hancock Mutual Life Insurance Company, which in 
turn indirectly owns the Adviser. 

ORGANIZATION AND MANAGEMENT OF THE FUND 

The Trustees elect officers and retain the investment adviser who is 
responsible for the day-to-day operations of the Fund, subject to the 
Trustees' policies and supervision. 

The Fund is a diversified open-end management investment company organized as 
a Maryland corporation in 1973 and reorganized as a Massachusetts business 
trust in 1984. The Fund has an unlimited number of authorized shares of 
beneficial interest. The Fund's Declaration of Trust permits the Trustees, 
without shareholder approval, to create and classify shares of beneficial 
interest into separate series of the Fund. As of the date of this Prospectus, 
the Trustees have not authorized the creation of any new series of the Fund. 
Additional series may be added in the future. The Trust's Declaration of 
Trust also permits the Trustees to classify and reclassify any series or 
portfolio of shares into one or more classes. Accordingly, the Trustees have 
authorized the issuance of three classes of the Fund, designated Class A, 
Class B and Class C. The shares of each class represent an interest in the 
same portfolio of investments of the Fund and have equal rights as to voting, 
redemption, dividends and liquidation. However, each class bears different 
distribution and transfer agent fees, and Class A and Class B shareholders 
have exclusive voting rights with respect to their distribution plans. 

Shareholders have certain rights to remove Trustees. The Fund is not required 
and does not intend to hold annual shareholder meetings, although special 
meetings may be held for such purposes as electing or removing Trustees, 
changing fundamental investment restrictions or approving a management 
contract. The Fund, under certain circumstances, will assist in shareholder 
communications with other shareholders. 

John Hancock Advisers, Inc. advises investment companies having total assets 
of approximately $10 billion. 

The Adviser was organized in 1968 and is a wholly-owned indirect subsidiary 
of the John Hancock Mutual Life Insurance Company, a financial services 
company. The Adviser provides the Fund, and other investment companies in the 
John Hancock group of funds, with investment research and portfolio 
management services. John Hancock Broker Distribution Services, Inc. ("Broker 
Services") distributes shares for all of the John Hancock mutual funds 
through selected broker-dealers ("Selling Brokers"). Certain Fund officers 
are also officers of the Adviser and Broker Services. 

James Ho is a Senior Vice President and the portfolio manager of the Fund. 
Mr. Ho is assisted in the day-to-day management of the Fund's investment 
portfolio by a co-manager and a team of credit analysts. Mr. Ho also directs 
all taxable fixed-income investment management for the Adviser and has been 
associated with the Adviser since 1985. 

ALTERNATIVE PURCHASE ARRANGEMENTS 

You can purchase shares of the Fund at a price equal to their net asset value 
per share, plus a sales charge. At your election, this charge may be imposed 
either at the time of the purchase (see "Initial Sales Charge 
Alternative--Class A Shares") or on a contingent deferred basis (see 
"Contingent Deferred Sales Charge Alternative--Class B Shares"). If you do 
not specify on your account application which class of shares you are 
purchasing, it will be assumed that you are investing in Class A shares. 

Investments in Class A shares are subject to an initial sales charge. 

Class A Shares. If you elect to purchase Class A shares, you will incur an 
initial sales charge unless the amount of your purchase is $1 million or 
more. If you purchase $1 million or more of Class A shares you will not be 
subject to an initial sales charge, 


but you will incur a sales charge if you redeem your shares within one year 
of purchase. Class A shares are subject to ongoing distribution and service 
fees at a combined annual rate of up to 0.30% of the Fund's average daily net 
assets attributable to the Class A shares. Certain purchases of Class A 
shares qualify for reduced initial sales charges. See "Share 
Price--Qualifying for a Reduced Sales Charge." 

Investments in Class B shares are subject to a contingent deferred sales 
charge. 

Class B Shares. You will not incur a sales charge when you purchase Class B 
shares, but the shares are subject to a sales charge if you redeem them 
within six years of purchase (the "contingent deferred sales charge" or the 
"CDSC"). Class B shares are subject to ongoing distribution and service fees 
at a combined annual rate of up to 1.00% of the Fund's average daily net 
assets attributable to the Class B shares. Investing in Class B shares 
permits all of your dollars to work from the time you make your investment, 
but the higher ongoing distribution fee will cause these shares to have a 
higher expense ratio than that of Class A shares. To the extent that any 
dividends are paid by the Fund, these higher expenses will also result in 
lower dividends than those paid on Class A shares. 

Factors to Consider in Choosing an Alternative 

You should consider which class of shares will be a more beneficial 
investment for you. 

The alternative purchase arrangement allows you to choose the most beneficial 
way to buy shares given the amount of your purchase, the length of time you 
expect to hold your shares and other circumstances. You should consider 
whether, during the anticipated life of your Fund investment, the accumulated 
fees on Class B shares would be less than the initial sales charge and 
accumulated fees on Class A shares purchased at the same time; and to what 
extent this differential would be offset by the Class A shares' lower 
expenses. To help you make this determination, the table under the caption 
"Expense Information" on page 2 of this Prospectus gives examples of the 
charges applicable to each class of shares. Class A shares will normally be 
more beneficial if you qualify for a reduced sales charge. See "Share 
Price--Qualifying for a Reduced Sales Charge". 

Class A shares are subject to lower distribution and service fees and, 
accordingly, pay correspondingly higher dividends per share, to the extent 
any dividends are paid. However, because initial sales charges are deducted 
at the time of purchase, you would not have all of your funds invested 
initially and, therefore, would initially own fewer shares. If you do not 
qualify for reduced initial sales charges and expect to maintain your 
investment for an extended period of time, you might consider purchasing 
Class A shares because the accumulated distribution and service charges on 
Class B shares may exceed the initial sales charge and accumulated 
distribution and service charges on Class A shares during the life of your 
investment. 

Alternatively, you might determine that it would be more advantageous to 
purchase Class B shares in order to have all your funds invested initially, 
although remaining subject to higher distribution fees and, for a six-year 
period, a CDSC. 

In the case of Class A shares, distribution expenses that Broker Services 
incurs in connection with the sale of shares will be paid from the proceeds 
of the initial sales charge and the ongoing distribution and service fees. In 
the case of Class B shares, expenses will be paid from the proceeds of the 
ongoing distribution and service fees, as well as the CDSC incurred upon 
redemption within six years of purchase. The purpose and function of the 
Class B shares' CDSC and ongoing distribution and service 

fees are the same as those of the Class A shares' initial sales charge and 
ongoing distribution and service fees. Sales personnel distributing the 
Fund's shares may receive different compensation for selling each class of 
shares. 

Dividends, if any, on Class A and Class B shares will be calculated in the 
same manner, at the same time and on the same day and will be in the same 
amount. However, each class will bear only its own distribution and service 
fees, shareholder meeting expenses and incremental transfer agency costs. See 
"Dividends and Taxes." 

THE FUND'S EXPENSES 

For managing its investment and business affairs, the Fund pays a fee to the 
Adviser which for the 1993 fiscal year, was 0.44% of the Fund's average daily 
net asset value. 

The fund pays distribution and service fees for marketing and sales-related 
shareholder servicing. 

The Class A and Class B shareholders have adopted distribution plans (each a 
"Plan") pursuant to Rule 12b-1 under the Investment Company Act of 1940. 
Under these Plans, the Fund will pay distribution and service fees at an 
aggregate annual rate of 0.30% of the Class A shares' average daily net 
assets and an aggregate annual rate of 1.00% of the Class B shares' average 
daily net assets. In each case, up to 0.25% is for service expenses and the 
remaining amount is for distribution expenses. The distribution fees will be 
used to reimburse Broker Services for its distribution expenses including but 
not limited to: (i) initial and ongoing sales compensation to Selling Brokers 
and others (including affiliates of Broker Services) engaged in the sale of 
Fund shares; (ii) marketing, promotional and overhead expenses incurred in 
connection with the distribution of Fund shares; and (iii) with respect to 
Class B shares only, interest expenses on unreimbursed distribution expenses. 
The service fees will be used to compensate Selling Brokers for providing 
personal and account maintenance services to shareholders. In the event 
Broker Services is not fully reimbursed for payments made or expenses 
incurred by it under the Class A Plan, these expenses will not be carried 
beyond twelve months from the date they were incurred. These unreimbursed 
expenses under the Class B Plan will be carried forward together with 
interest on the balance of these unreimbursed expenses. 

The total expenses of the Fund's Class A shares for the year ended December 
31, 1993, were 1.41% of average daily net asset value. The total expenses for 
Class B shares for the period from November 23, 1993 (commencement date of 
Class B shares) to December 31, 1993 were 1.63% of average daily net asset 
value on an annualized basis. 

DIVIDENDS AND TAXES 

Dividends. Dividends from the Fund's net investment income are generally 
declared daily and distributed monthly. Capital gains, if any, are generally 
distributed annually. Dividends are reinvested in additional shares of your 
class unless you elect the option to receive them in cash. If you elect the 
cash option and the U.S. Postal Service cannot deliver your checks, your 
election will be converted to the reinvestment option. Because of the higher 
expenses associated with Class B shares, any dividend on these shares will be 
lower than on the Class A shares. See "Share Price." 

Taxation. Dividends from the Fund's net investment income and net short-term 
capital gains are taxable to you as ordinary income. Dividends from the 
Fund's net long- term capital gains are taxable as long-term capital gains. 
These dividends are taxable whether you take them in cash or reinvest in 
additional shares. Certain dividends may 

be paid in January of a given year, but they may be taxable as if you 
received them the previous December. The Fund will send you a statement by 
January 31 showing the tax status of the dividends you received for the prior 
year. 

The Fund has qualified and intends to continue to qualify as a regulated 
investment company under Subchapter M of the Internal Revenue Code of 1986, 
as amended (the "Code"). As a regulated investment company, the Fund will not 
be subject to Federal income taxes on any net investment income and net 
realized capital gains that are distributed to its shareholders at least 
annually. When you redeem (sell) or exchange shares, you may realize a gain 
or loss. 

On the account application, you must certify that your social security or 
other taxpayer identification number is correct and that you are not subject 
to backup Federal tax withholding. If you do not provide this information, or 
are otherwise subject to withholding, the Fund may be required to withhold 
31% of your dividends, redemptions and exchanges. 

In addition to Federal taxes, you may be subject to state, local or foreign 
taxes, depending on your residence. In some states, a portion of the Fund's 
dividends that represents interest received by the Fund on direct U.S. 
government obligations may be exempt from tax. You should consult your tax 
adviser for specific advice. 

PERFORMANCE 

The Fund may advertise its yield and total return. 

Yield reflects the Fund's rate of income on portfolio investments as a 
percentage of its share price. Yield is computed by annualizing the result of 
dividing the net investment income per share over a 30 day period by the 
maximum offering price per share on the last day of that period. Yield is 
calculated according to accounting methods that are standardized for all 
stock and bond funds. Because yield accounting methods differ from the 
methods used for other accounting purposes, the Fund's yield may not equal 
the income paid on Fund shares or the income reported in the Fund's financial 
statements. 

Total return is based on the overall change in value of a hypothetical 
investment in the Fund. 

The Fund's total return shows the overall dollar or percentage change in 
value, assuming the reinvestment of all dividends. Cumulative total return 
shows the Fund's performance over a period of time. Average annual total 
return shows the cumulative return divided over the number of years included 
in the period. Because average annual total return tends to smooth out 
variations in performance, you should recognize that it is not the same as 
actual year-to-year results. 

Both total return and yield calculations for Class A shares generally include 
the effect of paying the maximum sales charge (except as shown in "The Fund's 
Financial Highlights"). Investments at lower sales charges would result in 
higher performance figures. Yield and total return for the Class B shares 
reflect deduction of the applicable CDSC imposed on a redemption of shares 
held for the applicable period. All calculations assume that all dividends 
are reinvested at net asset value on the reinvestment dates during the 
periods. Yield and total return of Class A, Class B and Class C shares will 
be calculated separately and, because each class is subject to different 
expenses, the yield or total return with respect to that class for the same 
period may differ. The relative performance of the Class A and Class B shares 
will be affected by a variety 


of factors, including the higher operating expenses attributable to the Class 
B shares, whether the Fund's investment performance is better in the earlier 
or later portions of the period measured and the level of net assets of the 
Classes during the period. The Fund will include the total return of Class A, 
Class B and Class C shares in any advertisement or promotional materials 
including the Fund's performance data. The value of Fund shares, when 
redeemed, may be more or less than their original cost. Both yield and total 
return are historical calculations and are not indications of future 
performance. See "Factors to Consider in Choosing an Alternative." Further 
information about the performance of the Fund is contained in the Fund's 
Annual Report to Shareholders which may be obtained free of charge by writing 
or telephoning John Hancock Fund Services, Inc. at the address or telephone 
number listed on the front page of this Prospectus. 

HOW TO BUY SHARES 

Opening an account 

The minimum initial investment in Class A and Class B shares is $1,000 ($250 
for group investments or $500 for retirement plans). Complete the Account 
Application attached to this Prospectus. Indicate whether you are purchasing 
Class A or Class B shares. If you do not specify which class of shares you 
are purchasing, Fund Services will assume you are investing in Class A 
shares. 

By Check 

1. Make your check payable to John Hancock Fund Services, Inc. ("Fund 
Services"). 
2. Deliver the completed application and check to your registered 
representative or Selling Broker, or mail it directly to Fund Services. 

By Wire 

1. Obtain an account number by contacting your registered representative or 
Selling Broker, or by calling 1-800-225-5291. 
2. Instruct your bank to wire funds to: 
 First Signature Bank & Trust 
John Hancock Deposit Account No. 900000260 
ABA Routing No. 211475000 
For credit to: John Hancock Sovereign Bond Fund 
(Class A or Class B shares) 
Your Account Number 
Name(s) under which account is registered 
3. Deliver the completed application to your registered representative or 
Selling Broker, or mail it directly to Fund Services. 

Monthly Automatic 
Accumulation 
Program (MAAP) 

Buying additional Class A and Class B shares 

1. Complete the "Automatic Investing" and "Bank Information" sections on the 
Account Privileges Application, designating a bank account from which funds 
may be drawn. 
2. The amount you elect to invest will be automatically withdrawn from your 
bank or credit union account. 


By Telephone 

1. Complete the "Invest-By-Phone" and "Bank Information" sections on the 
Account Privileges Application, designating a bank account from which funds 
may be drawn. Note that in order to invest by phone, your account must be in 
a bank or credit union that is a member of the Automated Clearing House 
system (ACH). 
2. After your authorization form has been processed, you may purchase 
additional Class A and Class B shares by calling Fund Services toll-free at 
1-800-225-5291. 
3. Give the Fund Services representative the name(s) in which your account is 
registered, the Fund name, the class of shares you own, your account number 
and the amount you wish to invest. 
4. Your investment normally will be credited to your account the business day 
following your phone request. 

By Check 

1. Either complete the detachable stub included on your account statement or 
include a note with your investment listing the name of the Fund, the class 
of shares you own, your account number and the name(s) in which the account 
is registered. 
2. Make your check payable to John Hancock Fund Services, Inc. 
3. Mail the account information and check to: 
 John Hancock Fund Services, Inc. 
P.O. Box 9115 
Boston, MA 02205-9115 
or deliver it to your registered representative or Selling Broker. 

By Wire 

Instruct your bank to wire funds to: 
  First Signature Bank & Trust 
John Hancock Deposit Account No. 900000260 
ABA Routing No. 211475000 
For credit to: John Hancock Sovereign Bond Fund 
(Class A or Class B shares) 
Your Account Number 
Name(s) under which account is registered 

Other Requirements: All purchases must be made in U.S. dollars. Checks 
written on foreign banks will delay purchases until U.S. funds are received, 
and a collection charge may be imposed. Shares of the Fund are priced at the 
offering price based on the net asset value computed after Broker Services 
receives notification of the dollar equivalent from the Fund's custodian 
bank. Wire purchases normally take two or more hours to complete and, to be 
accepted the same day, must be received by 4:00 p.m., New York time. Your 
bank may charge a fee to wire funds. Telephone transactions are recorded to 
verify information. Certificates are not issued unless a request is made in 
writing to Fund Services. 

Institutional Investors: Certain institutional investors may purchase Class C 
shares of the Fund, which have no sales charge or 12b-1 fee. See 
"Institutional Investors" for further information. 

You will receive statements regarding your account which you should keep to 
help with your personal recordkeeping. 

You will receive a statement of your account after any transaction that 
affects your share balance or registration (statements related to 
reinvestment of dividends and automatic investment/withdrawal plans will be 
sent to you quarterly). A tax information statement will be mailed to you by 
January 31 of each year. 


SHARE PRICE 

The offering price of shares is their net asset value plus a sales charge, if 
applicable, which will vary with the purchase alternative you choose. 

The net asset value ("NAV") is the value of one share. The NAV per share is 
calculated by dividing the net assets of each class by the number of 
outstanding shares of that class. The NAV will be different for each class to 
the extent that different amounts of undistributed income are accrued on 
shares of each class between dividend declarations. Securities in the Fund's 
portfolio are generally valued by a pricing service which utilizes electronic 
pricing techniques based on general institutional trading. Some securities 
are valued at fair value based on procedures approved by the Trustees, and 
for certain other securities, the amortized cost method is used if the 
Trustees determine in good faith that this cost approximates fair value, as 
described more fully in the Statement of Additional Information. The NAV is 
calculated once daily as of the close of regular trading on the New York 
Stock Exchange (generally at 4:00 P.M., New York time) on each day that the 
Exchange is open. 

Shares of the Fund are sold at the offering price based on the NAV computed 
after your investment request is received in good order by Broker Services. 
If you buy shares of the Fund through a Selling Broker, the Selling Broker 
must receive your investment before the close of regular trading on the New 
York Stock Exchange and transmit it to Broker Services before its close of 
business to receive that day's offering price. 

The Fund offers two classes of shares in this Prospectus: Class A shares, 
which are subject to an initial sales charge, and Class B shares, which are 
subject to a contingent deferred sales charge. If you do not specify a 
particular class of shares, it will be assumed that you are purchasing Class 
A shares and an initial sales charge will be assessed. 

Initial Sales Charge Alternative--Class A Shares. The offering price you pay 
for Class A shares of the Fund equals the NAV plus a sales charge as follows: 


                                                                  Combined 
                                 Sales            Sales          Reallowance       Reallowance 
                                Charge           Charge          and Service        to Selling 
                                 as a             as a            Fee as a         Broker as a 
                              Percentage       Percentage       Percentage of     Percentage of 
     Amount invested          of Offering     of the Amount       Offering           Offering 
 (Including Sales Charge)        Price          Invested          Price(+)           Price(*) 
                                                                           
Less than $100,000               4.50%            4.71%             4.00%              3.76% 
$100,000 to $249,999             3.75%            3.90%             3.25%              3.01% 
$250,000 to $499,999             2.75%            2.83%             2.30%              2.06% 
$500,000 to $999,999             2.00%            2.04%             1.75%              1.51% 
$1,000,000 and over              0.00%(**)        0.00%(**)          (***)             0.00%(***) 

(*) Upon notice to Selling Brokers with whom it has sales agreements, Broker 
Services may reallow an amount up to the full applicable sales charge. A 
Selling Broker to whom substantially the entire sales charge is reallowed or 
who receives these incentives may be deemed to be an underwriter under the 
Securities Act of 1933. 

(**) No sales charge is payable at the time of purchase of Class A shares of 
$1 million or more, but a contingent deferred sales charge may be imposed in 
the event of certain redemption transactions within one year of purchase. 

(***) Broker Services may pay a commission and first year's service fee (as 
described in (+) below) to Selling Brokers who initiate and are responsible 
for purchases of $1 million or more in aggregate as follows: 1% on sales to 
$4,999,999, 0.50% on the next $5 million and 0.25% on $10 million and over. 

(+) At the time of sale, Broker Services pays to Selling Brokers the first 
year's service fee in advance, in an amount equal to 0.25% of the net assets 
invested in the Fund. Thereafter it pays the service fee periodically in 
arrears in an amount up to 0.25% of the Fund's average annual net assets. 
Selling Brokers receive the fee as compensation for providing personal and 
account maintenance services to shareholders. 

Sales charges ARE NOT APPLIED to any dividends which are reinvested in 
additional shares of the Fund. 

In addition to the reallowance allowed to all Selling Brokers, Broker 
Services will pay the following: Round trip airfare to a luxury resort will 
be given to each registered representative of a Selling Broker who sells 
certain amounts of shares of John Hancock funds. Broker Services will make 
these incentive payments out of its own resources. Other than distribution 
fees, the Fund does not bear distribution expenses. 

Broker Services will pay certain affiliated Selling Brokers at an annual rate 
of up to 0.05% of the daily net assets of the accounts attributable to such 
brokers. 

Under certain circumstances described below, investors in Class A shares may 
be entitled to pay reduced sales charges. See "Qualifying For a Reduced Sales 
Charge." 

Contingent Deferred Sales Charge--Investments of $1 Million or More in Class 
A Shares. Purchases of $1 million or more in Class A shares will be made at 
net asset value with no initial sales charge, but if the shares are redeemed 
within 12 months after the end of the calendar month in which the purchase 
was made (the contingent deferred sales charge period), a contingent deferred 
sales charge ("CDSC") will be imposed. The rate of the CDSC will depend on 
the amount invested as follows: 


        Amount Invested              CDSC Rate 
                                    
$1 million to $4,999,999               1.00% 
Next $5 million to $9,999,999          0.50% 
Amounts of $10 million and over        0.25% 

The charge will be assessed on an amount equal to the lesser of the current 
market value or the original purchase cost of the Class A shares redeemed. 
Accordingly, no CDSC will be imposed on increases in account value above the 
initial purchase price, including any dividends which have been reinvested in 
additional Class A shares. 

In determining whether a CDSC applies to a redemption, the calculation will 
be determined in a manner that results in the lowest possible rate being 
charged. Therefore, it will be assumed that redemption is first made from any 
shares in your account not subject to the CDSC. The CDSC is waived on 
redemption in certain circumstances. See the discussion "Waiver of Contingent 
Deferred Sales Charges" below. 

Qualifying for a Reduced Sales Charge. 

You may qualify for a 
reduced sales charge on 
your investments in 
Class A shares. 

If you invest more than $100,000 in Class A shares of the Fund or a 
combination of funds in the John Hancock family of funds (except money market 
funds), you may qualify for a reduced sales charge on your investments in 
Class A shares through a LETTER OF INTENTION or through the COMBINATION 
PRIVILEGE. You may also be able to use the ACCUMULATION PRIVILEGE to take 
advantage of the value of your previous investments in Class A shares of John 
Hancock funds when meeting the breakpoints for a reduced sales charge. 


Class A shares of the Fund may be purchased without paying an initial sales 
charge by the following: 

Fund employees and affiliates 

* A Trustee/Director or officer of the Trust/Company; a Director or officer 
of the Adviser and its affiliates or Selling Brokers; employees or sales 
representatives of any of the foregoing; retired officers employees or 
Directors of any of the foregoing; a member of the immediate family of any of 
the foregoing; or any Fund, pension, profit sharing or other benefit plan for 
the individuals described above. 

Special transactions 

* Any state, county, city or any instrumentality, department, authority or 
agency of these entities (an "eligible governmental authority") which is 
prohibited by applicable investment laws from paying a sales charge or 
commission when it purchases shares of any registered investment management 
company. 

* A bank, trust company, credit union, savings institution or other type of 
depository institution, its trust departments or common trust funds (an 
"eligible depository institution") if it is purchasing $1 million or more for 
non-discretionary customers or accounts. 

* A broker, dealer or registered investment adviser that has entered into an 
agreement with Broker Services providing specifically for the use of Fund 
shares in fee-based investment products made available to their clients. 

* A former participant in an employee benefit plan with John Hancock Mutual 
Funds, when s/he withdraws from his/her plan and transfers any or all of 
his/her plan distributions directly to the Fund. 


* Class A shares of the Fund may also be purchased without an initial sales 
charge in connection with certain liquidation, merger or acquisition 
transactions involving other investment companies or personal holding 
companies. 

Contingent Deferred Sales Charge Alternative--Class B Shares. Class B shares 
are offered at net asset value per share without a sales charge, so that your 
entire initial investment will go to work at the time of purchase. However, 
Class B shares redeemed within six years of purchase will be subject to a 
CDSC at the rates set forth below. This charge will be assessed on an amount 
equal to the lesser of the current market value or the original purchase cost 
of the shares being redeemed. Accordingly, you will not be assessed a CDSC on 
increases in account value above the initial purchase price, including shares 
derived from dividend reinvestments. In determining whether a CDSC applies to 
a redemption, the calculation will be determined in a manner that results in 
the lowest possible rate being charged. It will be assumed that your 
redemption comes first from shares you have held beyond the six-year CDSC 
redemption period or those you acquired through dividend reinvestment, and 
next from the shares you have held the longest during the six-year period. 

EXAMPLE: 

You have purchased 100 shares at $10 per share. The second year after your 
purchase, your investment's net asset value per share has increased by $2 to 
$12, and you have gained 10 additional shares through dividend reinvestment. 
If you redeem 50 shares at this time, your CDSC will be calculated as 
follows: 

*Proceeds of 50 shares redeemed at $12 per share                          $600 
* Minus proceeds of 10 shares not subject to CDSC because they were acquired 
through dividend reinvestment (10 X $12)                                  -120 
* Minus appreciation on remaining shares, also not subject to CDSC (40 X $2) 
                                                                           -80 
* Amount subject to CDSC                                                  $400 

Proceeds from the CDSC are paid to Broker Services. Broker Services uses them 
in whole or in part to defray its expenses related to providing the Fund with 
distribution services in connection with the sale of Class B shares, such as 
compensating Selling Brokers for selling these shares. The combination of the 
CDSC and the distribution and service fees makes it possible for the Fund to 
sell Class B shares without deducting a sales charge at the time of the 
purchase. 

The amount of the CDSC, if any, will vary depending on the number of years 
from the time you purchase your Class B shares until the time you redeem 
them. Solely for purposes of determining this holding period, any payments 
you make during the month will be aggregated and deemed to have been made on 
the last day of the month. 


                                          Contingent Deferred Sales 
Year In Which Class B Shares              Charge As a Percentage of 
Redeemed Following Purchase             Dollar Amount Subject to CDSC 
                                                  
First                                                5.0% 
Second                                               4.0% 
Third                                                3.0% 
Fourth                                               3.0% 
Fifth                                                2.0% 
Sixth                                                1.0% 
Seventh and thereafter                              None 

A commission equal to 3.75% of the amount invested and a first year's service 
fee equal to 0.25% of the amount invested are paid to Selling Brokers. The 
initial service fee is paid in advance at the time of sale for the provision 
of personal and account maintenance services to shareholders during the 
twelve months following the sale, and thereafter the service fee is paid in 
arrears. 

Conversion of Class B Shares. Your Class B shares and an appropriate portion 
of reinvested dividends on those shares will be converted into Class A shares 
automatically no later than the month following eight years after the shares 
were purchased, resulting in lower annual distribution fees. If you exchanged 
Class B shares into the Fund from another John Hancock fund, the calculation 
will be based on the time the shares in the original fund were purchased. 

Waiver of Contingent Deferred Sales Charge. The CDSC is waived on redemptions 
of Class B shares (and Class A shares subject to the CDSC) in the following 
circum- 


stances: (1) redemptions in connection with a tax-exempt retirement plan 
distribution which is mandatory under the Code (i.e., after age 70-1/2); (2) 
redemptions involving certain liquidation, merger or acquisition transactions 
involving other investment companies or personal holding companies; (3) 
redemptions that are due to death or disability; or (4) redemptions made 
pursuant to the Reinvestment Privilege, as described below. The CDSC is 
waived on redemptions of shares following distributions to participants or 
beneficiaries of plans qualified under Section 401(a) of the Code or from 
custodial accounts under Code Section 403(b)(7), deferred compensation plans 
under Code Section 457 and other employee benefit plans, and certain returns 
of excess contributions made to these plans. In addition, all of these 
distributions must be permitted to be made without penalty under the Code. In 
addition, certain IRA and retirement plans purchasing shares before October 
1, 1992 will not be subject to a CDSC. If you are entitled to a waiver of the 
CDSC, you must notify Fund Services either directly or through your Selling 
Broker at the time you make your redemption. The waiver will be granted 
subject to confirmation of your entitlement to the waiver. 

HOW TO REDEEM SHARES 

You may redeem all or a portion of your shares on any business day. Your 
shares will be redeemed at the next NAV calculated after your redemption 
request is received in good order by Fund Services, less any applicable CDSC. 
The Fund may hold payment until reasonably satisfied that investments which 
were recently made by check or Invest-by-Phone have been collected (which may 
take up to 10 calendar days). 

Once your shares are redeemed, the Fund generally sends you payment on the 
next business day. When you redeem your shares, you will generally realize a 
gain or loss depending on the difference between what you paid for them and 
what you receive for them, subject to certain tax rules. Under unusual 
circumstances, the Fund may suspend redemptions or postpone payment for up to 
seven days or longer, as permitted by Federal securities laws. 

By Telephone 

To assure acceptance of your redemption request, please follow these 
procedures. 

All Fund shareholders are automatically eligible for the telephone redemption 
privilege. Call 1-800-225-5291, from 8:00 A.M. to 4:00 P.M. (New York time), 
Monday through Friday, excluding days on which the New York Stock Exchange is 
closed. Fund Services employs the following procedures to confirm that 
instructions received by telephone are genuine. Your name, the account 
number, taxpayer identification number applicable to the account and other 
relevant information may be requested. In addition, telephone instructions 
are recorded. 

You may redeem up to $100,000 by telephone, but the address on the account 
must not have changed for the last 30 days. A check will be mailed to the 
exact name(s) shown on the account. 

If reasonable procedures, such as those described above, are not followed, 
the Fund may be liable for any loss due to unauthorized or fraudulent 
instructions. In all other cases, neither the Fund nor Fund Services will be 
liable for any loss or expense for acting upon telephone instructions made in 
accordance with the telephone transaction procedures mentioned above. 
Telephone redemption is not available for IRAs or other tax-qualified 
retirement plans or shares of the Fund that are in certificate form. 
During periods of extreme economic conditions or market changes, telephone 
requests may be difficult to implement due to a large volume of calls. During 
these times you should consider placing redemption requests in writing or 
using EASI- Line. EASI-Line is a telephone number which is listed on account 
statements. 

By Wire 

If you have a telephone redemption form on file with the Fund, redemption 
proceeds of $1,000 or more can be wired on the next business day to your 
designated bank account, and a fee (currently $4.00) will be deducted. You 
may also use electronic funds transfer to your assigned bank account, and the 
funds are usually collectable after two business days. Your bank may or may 
not charge for this service. Redemptions of less than $1,000 will be sent by 
check or electronic funds transfer. 
This feature may be elected by completing the "Telephone Redemption" section 
on the Account Privileges Application attached to this Prospectus. 

In Writing 

Send a stock power or "letter of instruction" specifying the name of the 
Fund, the dollar amount or the number of shares to be redeemed, your name, 
class of shares, your account number and the additional requirements listed 
below that apply to your particular account. 


 Type of Registration                    Requirements 
                                       
Individual, Joint Tenants, Sole 
  Proprietorship, Custodial (Uniform      A letter of instruction signed (with titles where applicable) 
  Gifts or Transfer to Minors Act),       by all persons authorized to sign for the account, exactly as 
  General Partners.                       it is registered with the signature(s) guaranteed. 
Corporation, Association                  A letter of instruction and a corporate resolution, signed by 
                                          person(s) authorized to act on the account, with the 
                                          signature(s) guaranteed. 
Trusts                                    A letter of instruction signed by the Trustee(s) with the 
                                          signature(s) guaranteed. (If the Trustee's name is not 
                                          registered on your account, also provide a copy of the trust 
                                          document, certified within the last 60 days.) 

If you do not fall into any of these registration categories, please call 
1-800-225-5291 for further instructions. 


 
Who may guarantee your signature 

A signature guarantee is a widely accepted way to protect you and the Fund by 
verifying the signature on your request. It may not be provided by a notary 
public. If the net asset value of the shares redeemed is $100,000 or less, 
Broker Services may guarantee the signature. The following institutions may 
provide you with a signature guarantee, provided that the institution meets 
credit standards established by Fund Services: (i) a bank; (ii) a securities 
broker or dealer, including a government or municipal securities broker or 
dealer, that is a member of a clearing corporation or meets certain net 
capital requirements; (iii) a credit union having authority to issue 
signature guarantees; (iv) a savings and loan association, a building and 
loan association, a cooperative bank, a federal savings bank or association; 
or (v) a national securities exchange, a registered securities exchange or a 
clearing agency. 

Through Your Broker 

Your broker may be able to initiate the redemption. Contact your broker for 
instructions. 

Additional information about redemptions 

If you have certificates for your shares, you must submit them with your 
stock power or a letter of instruction. Unless you specify to the contrary, 
any outstanding Class A shares will be redeemed before Class B shares. You 
may not redeem certificated shares by telephone. 
Due to the proportionately high cost of maintaining smaller accounts, the 
Fund reserves the right to redeem at net asset value all shares in an account 
which holds fewer than 50 shares (except accounts under retirement plans) and 
to mail the proceeds to the shareholder, or the transfer agent may impose an 
annual fee of $10.00. No account will be involuntarily redeemed or additional 
fee imposed, if the value of the account is in excess of the Fund's minimum 
initial investment. No CDSC will be imposed on involuntary redemptions of 
shares. 
Shareholders will be notified before these redemptions are to be made or this 
fee is imposed and will have 30 days to purchase additional shares to bring 
their account up to the required minimum. Unless the number of shares 
acquired by further purchases and dividend reinvestments, if any, exceeds the 
number of shares redeemed, repeated redemptions from a smaller account may 
eventually trigger this policy. 



ADDITIONAL SERVICES AND PROGRAMS 

You may exchange shares of the Fund only for shares of the same class in 
another John Hancock mutual fund. 

Exchange Privilege 

If your investment objective changes, or if you wish to achieve further 
diversification, John Hancock offers other funds with a wide range of 
investment goals. Contact your registered representative or Selling Broker 
and request a prospectus for the John Hancock funds that interest you. Read 
the prospectus carefully before exchanging your shares. You can exchange 
shares of each class of the Fund only for shares of the same class of another 
John Hancock fund. For this purpose, John Hancock funds with only one class 
of shares will be treated as Class A whether or not they have been so 
designated. 


Exchanges between funds which are not subject to a CDSC are based on their 
respective net asset values. No sales charge or transaction charge is 
imposed. Class B shares of the Fund which are subject to a CDSC may be 
exchanged for Class B shares of another John Hancock fund without incurring 
the CDSC; however these shares will be subject to the CDSC schedule of the 
shares acquired (except that exchanges into John Hancock Short-Term Strategic 
Income Fund and John Hancock Limited Term Government Fund will be subject to 
the initial fund's CDSC). For purposes of computing the CDSC payable upon 
redemption of shares acquired in an exchange, the holding period of the 
original shares is added to the holding period of the shares acquired in an 
exchange. 



You may exchange Class B shares of any John Hancock fund into shares of John 
Hancock Cash Management Fund at net asset value. Shares so acquired will 
continue 

 
to be subject to a CDSC upon redemption. The rate of the CDSC will be the 
rate in effect on the original fund at the time of the exchange. 

If you exchange Class B shares purchased prior to January 1, 1994 (except 
John Hancock Short-Term Strategic Income Fund) for Class B shares of any 
other John Hancock fund, you will continue to be subject to the CDSC schedule 
that was in effect when they were purchased. See "Contingent Deferred Sales 
Charge Alternative-- Class B shares." 

The Fund reserves the right to require you to keep previously exchanged 
shares (and reinvested dividends) in the Fund for 90 days before you are 
permitted a new exchange. 

Under exchange agreements with Broker Services, certain dealers, brokers and 
investment advisers may exchange their clients' Fund shares, subject to the 
terms of those agreements and Broker Services' right to reject or suspend 
those exchanges at any time. Because of the restrictions and procedures under 
those agreements, the exchanges may be subject to timing limitations and 
other restrictions that do not apply to exchanges requested by shareholders 
directly, as described above. 

Because Fund performance and shareholders can be hurt by excessive trading, 
the Fund reserves the right to terminate the exchange privilege for any 
person or group that, in Broker Services' judgment, is involved in a pattern 
of exchanges that coincide with a "market timing" strategy that may disrupt 
the Fund's ability to invest effectively according to its investment 
objective and policies, or might otherwise affect the Fund and its 
shareholders adversely. The Fund may also temporarily or permanently 
terminate the exchange privilege for any person who makes seven or more 
exchanges out of the Fund per calendar year. Accounts under common control or 
ownership will be aggregated for this purpose. 

Although the Fund will attempt to give you prior notice whenever it is 
reasonably able to do so, it may impose these restrictions at any time. 

The Fund may also terminate or alter the terms of the exchange privilege upon 
60 days' notice to shareholders. 

An exchange of shares is treated as a redemption of shares of one fund and 
the purchase of shares in another for Federal income tax purposes. An 
exchange may result in a gain or loss. 

When you make an exchange, your account registration must be identical in 
both the existing and new account. The exchange privilege is available only 
in states where the exchange can be made legally. 

By Telephone 

1. When you fill out the application for your purchase of Fund shares, you 
automatically authorize exchanges by telephone unless you check the box 
indicating that you do not wish to have the telephone exchange privilege. 

2. Call 1-800-225-5291. Have the account number of your current fund and the 
exact name in which it is registered available to give to the telephone 
representative. 
 

 
In Writing 

1. In a letter request an exchange and list the following: 

 --the name and class of the fund whose shares you currently own 
 --your account number 
 --the name(s) in which the account is registered 
 --the name of the fund in which you wish your exchange to be invested 
 --the number of shares, all shares or the dollar amount you wish to exchange 
 Sign your request exactly as the account is registered. 

2. Mail the request and information to: 

John Hancock Fund Services, Inc. 
P.O. Box 9116 
Boston, Massachusetts 02205-9116 

Reinvestment Privilege 

If you redeem shares of the Fund, you may be able to reinvest the proceeds in 
this Fund or another John Hancock fund without paying an additional sales 
charge. 

1. No sales charge will apply to Class A shares that are reinvested in any of 
the other John Hancock funds which are otherwise subject to a sales charge as 
long as you reinvest within 120 days of the redemption date. If you paid a 
CDSC upon a redemption, you may reinvest at net asset value in the same class 
of shares from which you redeemed within 120 days. Your account will be 
credited with the amount of the CDSC previously charged, and the reinvested 
shares will continue to be subject to a CDSC. For purposes of computing the 
CDSC payable upon a subsequent redemption, the holding period of the shares 
acquired through reinvestment will include the holding period of the redeemed 
shares. 

2. Any portion of your redemption may be reinvested in Fund shares or in 
shares of any of the other John Hancock mutual funds, subject to the minimum 
investment limit of that fund. 

3. To reinvest, you must notify Fund Services in writing. Include the Fund 
name, account number and class from which your shares were originally 
redeemed. 

Systematic Withdrawal Plan 

You can pay routine bills from your account or make periodic disbursements 
from your retirement account to comply with IRS regulations. 

1. You may elect the Systematic Withdrawal Plan at any time by completing the 
Account Privileges Application which is attached to this Prospectus. You can 
also obtain the application from your registered representative or by calling 
1-800-225-5291. 

2. To be eligible, you must have at least $5,000 in your account. 

3. Payments from your account can be made monthly, quarterly, semi-annually 
or annually or on a selected monthly basis, to yourself or any other 
designated payee. 

4. There is no limit on the number of payees you may authorize, but all 
payments must be made at the same time or intervals. 


5. It is not advantageous to maintain a Systematic Withdrawal Plan 
concurrently with purchases of additional Class A or Class B shares because 
you may be subject 

to an initial sales charge on your purchases of Class A shares or to a CDSC 
on your redemptions of Class B shares. In addition, your redemptions are 
taxable events. 

6. If the U.S. Postal Service cannot deliver your checks, or if deposits to a 
bank account are returned for any reason, your redemptions will be 
discontinued. 

Monthly Automatic Accumulation Program (MAAP) 

You can make automatic investments and simplify your investing. 

1. You may authorize an investment to be drawn automatically each month from 
your bank for investment in Fund shares, under the "Automatic Investing" and 
"Bank Information" sections of the Account Privileges Application. 

2. You may also authorize automatic investing through payroll deduction by 
completing the "Direct Deposit Investing" section of the Account Privileges 
Application. 

3. You may terminate your Monthly Automatic Accumulation Program at any time. 

4. There is no charge to you for this program, and there is no cost to the 
Fund. 

5. If you have payments being withdrawn from a bank account and we are 
notified that the account has been closed, your withdrawals will be 
discontinued. 

Group Investment Program 

Organized groups of at least four persons may establish accounts. 

1. An individual account will be established for each participant, but the 
initial sales charge for Class A shares will be based on the aggregate dollar 
amount of all participants' investments. To determine how to qualify for this 
program, contact your registered representative or call 1-800-225-5291. 

2. The initial aggregate investment of all participants in the group must be 
at least $250. 

3. No additional charge is made in connection with this program. There is no 
obligation to make investments beyond the minimum, and you may terminate the 
program at any time. 

Retirement Plans 

1. You may use the Fund as a funding medium for various types of qualified 
retirement plans, including Individual Retirement Accounts, Keogh Plans (H.R. 
10), Pension and Profit Sharing Plans (including 401(k) Plans), Tax-Sheltered 
Annuity Retirement Plans (403(b) or TSA Plans), and 457 Plans. 

2. The initial investment minimum or aggregate minimum for any of the above 
plans is $500. However, accounts being established as group IRA, SEP, SARSEP, 
TSA, 401(k) and 457 Plans will be accepted without an initial minimum 
investment. 

INSTITUTIONAL INVESTORS 

Class C shares of the Fund are available only to the following types of 
institutional investors: (i) Benefits plans not affiliated with the Adviser 
which have at least $25,000,000 in plan assets, and either have a separate 
trustee vested with investment discretion and certain limitations on the 
ability of the plan beneficiaries to access their plan investments without 
incurring adverse tax consequences or allow their partici 


pants to select among one or more investment options, including the Fund 
("participant-directed plans"); (ii) Banks and insurance companies which are 
not affiliated with the Adviser purchasing shares for their own account; 
(iii) Investment companies not affiliated with the Adviser; (iv) Tax-exempt 
retirement plans of the Adviser and its affiliates, including affiliated 
brokers; and (v) Unit investment trusts sponsored by Broker Services and 
certain other sponsors. Participant-directed plans include, but are not 
limited to, 401(k), TSA and 457 plans. 

Class C shares are available to eligible institutional investors at net asset 
value without the imposition of a sales charge and are not subject to ongoing 
distribution fees imposed under a plan adopted pursuant to Rule 12b-1 under 
the Investment Company Act of 1940. The minimum initial investment in Class C 
shares is $1,000,000, but this requirement may be waived at the discretion of 
the Fund's officers. Some individuals who are currently eligible to purchase 
Class A or Class B shares may also be participants in plans that are eligible 
to purchase Class C shares of the Fund. Plans that qualify to purchase Class 
C shares will not be permitted to purchase shares of any other class of the 
Fund. 

Broker Services may pay a one-time payment of up to 0.15% of the amount 
invested in Class C shares to a Selling Broker for its sales of Class C 
shares. A person entitled to receive compensation for selling shares of the 
Fund may receive different compensation with respect to sales of Class A, 
Class B and Class C shares or any additional future class of shares. 

The Reinvestment Privilege, Systematic Withdrawal Plan, Monthly Automatic 
Accumulation Program, Group Investment Program and Retirement Plans are not 
available for Class C shares. 

If you are considering a purchase of Class C shares of the Fund, please call 
John Hancock Fund Services, Inc. at 1-800-437-9312 to obtain information 
about eligibility, instructions for purchase by check or wire and an 
Institutional Account Application. 

APPENDIX 

Moody's describes its lower ratings for corporate bonds as follows. 

Bonds which are rated Baa are considered as medium grade obligations, i.e. 
they are neither highly protected nor poorly secured. Interest payments and 
principal security appear adequate for the present but certain protective 
elements may be lacking or may be characteristically unreliable over any 
great length of time. Such bonds lack outstanding investment characteristics 
and in fact have speculative characteristics as well. 

Bonds which are rated Ba are judged to have speculative elements; their 
future cannot be considered as well assured. Often the protection of interest 
and principal payments may be very moderate and thereby are well safeguarded 
during both good and bad times over the future. Uncertainty of position 
characterizes bonds in this class. 

Bonds which are rated B generally lack characteristics of the desirable 
investment. Assurance of interest and principal payments or of maintenance of 
other terms of the contract over any long period of time may be small. 



Bonds which are rated Caa are of poor standing. Such issues may be in default 
or there may be present elements of danger with respect to principal or 
interest. 

Bonds which are rated Ca represent obligations which are speculative in a 
high degree. Such issues are often in default or have other marked 
shortcomings. 

Bonds which are rated C are the lowest rated class of bonds and issues so 
rated can be regarded as having extremely poor prospects of ever attaining 
any real investment standing. 

S&P describes its lower ratings for corporate bonds as follows: 

Debt rated BBB is regarded as having an adequate capacity to pay interest and 
repay principal. Whereas it normally exhibits adequate protection parameters, 
adverse economic conditions or changing circumstances are more likely to lead 
to a weakened capacity to pay interest and repay principal for debt in this 
category than in higher rated categories. 

Debt rated BB, B, CCC, or C is regarded, on balance, as predominantly 
speculative with respect to the issuer's capacity to pay interest and repay 
principal in accordance with the terms of the obligations. BB indicates the 
lowest degree of speculation and CC the highest degree of speculation. While 
such debt will likely have some quality and protective characteristics, these 
are outweighed by large uncertainties or major risk exposures to adverse 
conditions. 

Quality Distribution 

The average weighted quality distribution of the portfolio for the fiscal 
year ended December 31, 1993: 



                                                               Rating                          Rating 
                              Average            % of         Assigned          % of          Assigned           % of 
Security Ratings               Value          Portfolio      by Adviser      Portfolio       by Service        Portfolio 
                                                                                               
AAA                        $  480,566,382        32.8%            0             0.0%       $  480,566,382        32.8% 
AA                            171,122,996        11.7%            0             0.0%          171,122,996        11.7% 
A                             281,972,616        19.2%            0             0.0%          281,972,616        19.2% 
BAA                           205,390,698        14.0%            0             0.0%          205,390,698        14.0% 
BA                            169,263,279        11.5%            0             0.0%          169,263,279        11.5% 
B                             140,096,731         9.5%            0             0.0%          140,096,731         9.5% 
CAA                             2,617,563         0.2%            0             0.0%            2,617,563         0.2% 
CA                                      0         0.0%            0             0.0%                    0         0.0% 
C                                       0         0.0%            0             0.0%                    0         0.0% 
D                                       0         0.0%            0             0.0%                    0         0.0% 
Debt Securities             1,451,030,265        98.9%            0             0.0%       $1,451,030,265        98.9% 
Equity Securities                       0         0.0% 
Short-Term Securities          16,016,171         1.1% 
Total Portfolio             1,467,046,436       100.0% 
Other Assets--Net              18,172,209 
Net Assets                 $1,485,218,645 



 
(Notes) 


 
(Notes) 

The Fund pays distribution and service fees for marketing and sales-related 
shareholder servicing. 


Fund employees and affiliates 


John Hancock Sovereign Bond Fund 

Investment Adviser 
John Hancock Advisers, Inc. 
101 Huntington Avenue 
Boston, Massachusetts 02199-7603 

Principal Distributor 
John Hancock Broker Distribution Services, Inc. 
101 Huntington Avenue 
Boston, Massachusetts 02199-7603 

Custodian 
Investors Bank & Trust Company 
24 Federal Street 
Boston, Massachusetts 02110 

Transfer Agent 
John Hancock Fund Services, Inc. 
P.O. Box 9116 
Boston, Massachusetts 02205-9116 


Independent Auditors 
Ernst & Young 
200 Clarendon Street 
Boston, Massachusetts 02116 

HOW TO OBTAIN INFORMATION 
ABOUT THE FUND 

For: Service Information 
     Telephone Exchange call 1-800-225-5291 
     Investment-by-Phone 
     Telephone Redemption 
     TDD call 1-800-554-6713 
JHD-2100P 5-94 

JOHN HANCOCK 
SOVEREIGN 
BOND FUND 

Class A and B Shares 
Prospectus 
May 1, 1994 

A mutual fund seeking to generate a high level of current income consistent 
with prudent investment risk through investment in a diversified portfolio of 
freely marketable debt securities. 

101 Huntington Avenue 
Boston, Massachusetts 02199-7603 
Telephone 1-800-225-5291 

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