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
811-05979
(Exact name of registrant as specified in charter)
200 BERKELEY STREET, BOSTON, MA 02116
(Address of principal executive offices) (Zip code)
SALVATORE SCHIAVONE
TREASURER
200 BERKELEY STREET
BOSTON, MA 02116
(Name and address of agent for service)
Registrant's telephone number, including area code:
(617) 543-9634
Date of fiscal year end:
May 31
Date of reporting period:
ITEM 1. REPORTS TO STOCKHOLDERS
The Registrant prepared the following annual reports to shareholders for the period ended May 31, 2024:
John Hancock California Municipal Bond Fund
Annual SHAREHOLDER REPORT | May 31, 2024
What were the fund costs during the last year?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| California Municipal Bond Fund (Class A/TACAX) |
$ |
Management’s Discussion of Fund Performance
SUMMARY OF RESULTS
California Municipal Bond Fund (Class A/TACAX) returned 4.86% (excluding sales charges) for the year ended May 31, 2024. The most significant factors affecting Fund performance during the period included rising municipal bond yields, stronger-than-expected economic growth, and lowered expectations for interest rate cuts by the U.S. Federal Reserve. Sector performance in the municipal market was also a key factor, with high-yield bonds outperforming by a significant margin during the period.
TOP PERFORMANCE CONTRIBUTORS
High-yield municipal bonds | A position in high-yield securities provided a boost to fund performance.
General obligation (GO) bonds | GOs issued by school districts and local governments were key contributors to performance.
Special tax bonds | Bonds financing specific infrastructure projects added value during the period.
TOP PERFORMANCE DETRACTORS
Duration (interest rate sensitivity) | Rising municipal bond yields put downward pressure on municipal bond prices.
Selected hospital bonds | Although the hospital sector performed well overall, several individual holdings in the sector detracted from performance.
The views expressed in this report are exclusively those of the portfolio management team at Manulife Investment Management (US) LLC, and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
| AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
|
The Fund has designated Bloomberg Municipal Bond Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Figures reflect maximum sales charge on Class A shares of 4.00%. Past performance does not guarantee future results. 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 and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Total advisory fees paid (net) | $ |
| Portfolio turnover rate | |
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing percentage of the total investments of the fund.
Sector Composition
| General obligation bonds | |
| Revenue bonds | |
| Other revenue | |
| Health care | |
| Education | |
| Facilities | |
| Airport | |
| Water and sewer | |
| Utilities | |
| Tobacco | |
| Housing | |
| Development | |
| Transportation | |
| Pollution | |
| Closed-end funds | |
| Short-term investments | |
Quality Composition
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
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.
Availability of Additional Information
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
-
Prospectus
-
Financial information
-
Fund holdings
-
Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
John Hancock Investment Management Distributors LLC, Member FINRA, SIPC 200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
Manulife, Manulife Investment Management, Stylized M Design, and Manulife Investment Management & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.
MF3619752
53A-A
5/24
7/24
John Hancock California Municipal Bond Fund
Annual SHAREHOLDER REPORT | May 31, 2024
What were the fund costs during the last year?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| California Municipal Bond Fund (Class C/TCCAX) |
$ |
Management’s Discussion of Fund Performance
SUMMARY OF RESULTS
California Municipal Bond Fund (Class C/TCCAX) returned 4.07% (excluding sales charges) for the year ended May 31, 2024. The most significant factors affecting Fund performance during the period included rising municipal bond yields, stronger-than-expected economic growth, and lowered expectations for interest rate cuts by the U.S. Federal Reserve. Sector performance in the municipal market was also a key factor, with high-yield bonds outperforming by a significant margin during the period.
TOP PERFORMANCE CONTRIBUTORS
High-yield municipal bonds | A position in high-yield securities provided a boost to fund performance.
General obligation (GO) bonds | GOs issued by school districts and local governments were key contributors to performance.
Special tax bonds | Bonds financing specific infrastructure projects added value during the period.
TOP PERFORMANCE DETRACTORS
Duration (interest rate sensitivity) | Rising municipal bond yields put downward pressure on municipal bond prices.
Selected hospital bonds | Although the hospital sector performed well overall, several individual holdings in the sector detracted from performance.
The views expressed in this report are exclusively those of the portfolio management team at Manulife Investment Management (US) LLC, and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
| AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
| Bloomberg Municipal Bond Index | 2.67% | 0.93% | 2.25% |
| Bloomberg California Municipal Bond Index | 2.63% | 0.90% | 2.25% |
|
The Fund has designated Bloomberg Municipal Bond Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Class C shares sold within one year of purchase are subject to a 1.00% contingent deferred sales charge. Past performance does not guarantee future results. 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 and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Total advisory fees paid (net) | $ |
| Portfolio turnover rate | |
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing percentage of the total investments of the fund.
Sector Composition
| General obligation bonds | |
| Revenue bonds | |
| Other revenue | |
| Health care | |
| Education | |
| Facilities | |
| Airport | |
| Water and sewer | |
| Utilities | |
| Tobacco | |
| Housing | |
| Development | |
| Transportation | |
| Pollution | |
| Closed-end funds | |
| Short-term investments | |
Quality Composition
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
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.
Availability of Additional Information
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
-
Prospectus
-
Financial information
-
Fund holdings
-
Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
John Hancock Investment Management Distributors LLC, Member FINRA, SIPC 200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
Manulife, Manulife Investment Management, Stylized M Design, and Manulife Investment Management & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.
MF3619752
53A-C
5/24
7/24
Annual SHAREHOLDER REPORT | May 31, 2024
What were the fund costs during the last year?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| California Municipal Bond Fund (Class I/JCAFX) |
$ |
Management’s Discussion of Fund Performance
SUMMARY OF RESULTS
California Municipal Bond Fund (Class I/JCAFX) returned 5.12% for the year ended May 31, 2024. The most significant factors affecting Fund performance during the period included rising municipal bond yields, stronger-than-expected economic growth, and lowered expectations for interest rate cuts by the U.S. Federal Reserve. Sector performance in the municipal market was also a key factor, with high-yield bonds outperforming by a significant margin during the period.
TOP PERFORMANCE CONTRIBUTORS
High-yield municipal bonds | A position in high-yield securities provided a boost to fund performance.
General obligation (GO) bonds | GOs issued by school districts and local governments were key contributors to performance.
Special tax bonds | Bonds financing specific infrastructure projects added value during the period.
TOP PERFORMANCE DETRACTORS
Duration (interest rate sensitivity) | Rising municipal bond yields put downward pressure on municipal bond prices.
Selected hospital bonds | Although the hospital sector performed well overall, several individual holdings in the sector detracted from performance.
The views expressed in this report are exclusively those of the portfolio management team at Manulife Investment Management (US) LLC, and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $250,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $250,000
| AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
| Bloomberg Municipal Bond Index | 2.67% | 0.93% | 2.25% |
| Bloomberg California Municipal Bond Index | 2.63% | 0.90% | 2.25% |
|
The Fund has designated Bloomberg Municipal Bond Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
|
|
Class I shares were first offered on 2-13-17. Returns prior to this date are those of Class A shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
|
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. 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 and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Total advisory fees paid (net) | $ |
| Portfolio turnover rate | |
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing percentage of the total investments of the fund.
Sector Composition
| General obligation bonds | |
| Revenue bonds | |
| Other revenue | |
| Health care | |
| Education | |
| Facilities | |
| Airport | |
| Water and sewer | |
| Utilities | |
| Tobacco | |
| Housing | |
| Development | |
| Transportation | |
| Pollution | |
| Closed-end funds | |
| Short-term investments | |
Quality Composition
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
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.
Availability of Additional Information
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
-
Prospectus
-
Financial information
-
Fund holdings
-
Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
John Hancock Investment Management Distributors LLC, Member FINRA, SIPC 200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
Manulife, Manulife Investment Management, Stylized M Design, and Manulife Investment Management & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.
MF3619752
53A-I
5/24
7/24
John Hancock California Municipal Bond Fund
Annual SHAREHOLDER REPORT | May 31, 2024
What were the fund costs during the last year?
(Based on a hypothetical $10,000 investment)
| Fund (Class) | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| California Municipal Bond Fund (Class R6/JCSRX) |
$ |
Management’s Discussion of Fund Performance
SUMMARY OF RESULTS
California Municipal Bond Fund (Class R6/JCSRX) returned 5.03% for the year ended May 31, 2024. The most significant factors affecting Fund performance during the period included rising municipal bond yields, stronger-than-expected economic growth, and lowered expectations for interest rate cuts by the U.S. Federal Reserve. Sector performance in the municipal market was also a key factor, with high-yield bonds outperforming by a significant margin during the period.
TOP PERFORMANCE CONTRIBUTORS
High-yield municipal bonds | A position in high-yield securities provided a boost to fund performance.
General obligation (GO) bonds | GOs issued by school districts and local governments were key contributors to performance.
Special tax bonds | Bonds financing specific infrastructure projects added value during the period.
TOP PERFORMANCE DETRACTORS
Duration (interest rate sensitivity) | Rising municipal bond yields put downward pressure on municipal bond prices.
Selected hospital bonds | Although the hospital sector performed well overall, several individual holdings in the sector detracted from performance.
The views expressed in this report are exclusively those of the portfolio management team at Manulife Investment Management (US) LLC, and are subject to change. They are not meant as investment advice.
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $1,000,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $1,000,000
| AVERAGE ANNUAL TOTAL RETURN | 1 Year | 5 Years | 10 Years |
| Bloomberg Municipal Bond Index | 2.67% | 0.93% | 2.25% |
| Bloomberg California Municipal Bond Index | 2.63% | 0.90% | 2.25% |
|
The Fund has designated Bloomberg Municipal Bond Index as its broad-based securities market index in accordance with the revised definition for such an index.
|
|
|
Class R6 shares were first offered on 8-30-17. Returns prior to this date are those of Class A shares that have not been adjusted for class-specific expenses; otherwise, returns would vary.
|
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. 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 and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Total advisory fees paid (net) | $ |
| Portfolio turnover rate | |
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing percentage of the total investments of the fund.
Sector Composition
| General obligation bonds | |
| Revenue bonds | |
| Other revenue | |
| Health care | |
| Education | |
| Facilities | |
| Airport | |
| Water and sewer | |
| Utilities | |
| Tobacco | |
| Housing | |
| Development | |
| Transportation | |
| Pollution | |
| Closed-end funds | |
| Short-term investments | |
Quality Composition
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
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.
Availability of Additional Information
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
-
Prospectus
-
Financial information
-
Fund holdings
-
Proxy voting information
You can also request this information by contacting us at 800-225-5291.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
John Hancock Investment Management Distributors LLC, Member FINRA, SIPC 200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
Manulife, Manulife Investment Management, Stylized M Design, and Manulife Investment Management & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.
MF3619752
53A-R6
5/24
7/24
ITEM 2. CODE OF ETHICS.
As of the end of the year, May 31, 2024, the registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its Chief Executive Officer, Chief Financial Officer and Treasurer (respectively, the principal executive officer, the principal financial officer and the principal accounting officer, the "Covered Officers"). A copy of the code of ethics is filed as an exhibit to this Form N-CSR.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Frances G. Rathke is the audit committee financial expert and is "independent", pursuant to general instructions on Form N-CSR Item 3.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
(a) Audit Fees
The aggregate fees billed for professional services rendered by the principal accountant for the audits of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements amounted to $49,393 and $47,591 for the fiscal years ended May 31, 2024 and May 31, 2023, respectively. These fees were billed to the registrant and were approved by the registrant's audit committee.
(b) Audit-Related Services
Audit-related fees for assurance and related services by the principal accountant are billed to the registrant or to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser ("control affiliates") that provides ongoing services to the registrant. The nature of the services provided was affiliated service provider internal controls reviews and a software licensing fee. Amounts billed to the registrant were $80 and $1,134 for fiscal years ended May 31, 2024 and May 31, 2023, respectively.
Amounts billed to control affiliates were $127,986 and $121,890 for the fiscal years ended May 31, 2024 and May 31, 2023, respectively.
(c) Tax Fees
The aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning ("tax fees") amounted to $4,168 and $4,027 for the fiscal years ended May 31, 2024 and May 31, 2023, respectively. The nature of the services comprising the tax fees was the review of the registrant's tax returns and tax distribution requirements. These fees were billed to the registrant and were approved by the registrant's audit committee.
(d) All Other Fees
Other fees amounted to $369 and $57 for the fiscal years ended May 31, 2024 and May 31, 2023, respectively. The nature of the services comprising all other fees is advisory services provided to the investment manager. These fees were approved by the registrant's audit committee.
(e)(1) Audit Committee Pre-Approval Policies and Procedures
The registrant's Audit Committee must pre-approve all audit and non-audit services provided by the independent registered public accounting firm (the "Auditor") relating to the operations or financial reporting of the funds. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.
The registrant's Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee's consideration of audit-related and non-audit services by the Auditor. The policies and procedures require that any audit-related and non-audit service provided by the Auditor and any non-audit service provided by the Auditor to a fund service provider that relates directly to the operations and financial reporting of a fund are subject to approval by the Audit Committee before such service is provided. Audit-related services provided by the Auditor that are expected to exceed $25,000 per year/per fund are subject to specific pre-approval by the Audit Committee. Tax services provided by the Auditor that are expected to exceed $30,000 per year/per fund are subject to specific pre-approval by the Audit Committee.
All audit services, as well as the audit-related and non-audit services that are expected to exceed the amounts stated above, must be approved in advance of provision of the service by formal resolution of the Audit Committee. At the regularly scheduled Audit Committee meetings, the Committee reviews a report summarizing the services, including fees, provided by the Auditor.
(e)(2) Services approved pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X
Audit-Related Fees, Tax Fees and All Other Fees
There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception under Rule 2-01 of Regulation S-X.
(f) According to the registrant's principal accountant for the fiscal year ended May 31, 2024, the percentage of hours spent on the audit of the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons who were not full-time, permanent employees of principal accountant was less than 50%.
(g) The aggregate non-audit fees billed by the registrant's principal accountant for non-audit services rendered to the registrant and rendered to the registrant's control affiliates were $973,916 for the fiscal year ended May 31, 2024 and $1,236,793 for the fiscal year ended May 31, 2023.
(h) The audit committee of the registrant has considered the non-audit services provided by the registrant's principal accountant to the control affiliates and has determined that the services that were not pre-approved are compatible with maintaining the principal accountant's independence.
(i) Not applicable.
(j) Not applicable.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
The registrant has a separately-designated standing audit committee comprised of independent trustees. The members of the audit committee are as follows:
Frances G. Rathke – Chairperson
William H. Cunningham
Hassell H. McClellan
ITEM 6. SCHEDULE OF INVESTMENTS.
(a) Refer to information included in Item 7.
(b) Not applicable.
ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.
The Registrant prepared financial statements and financial highlights for the year ended May 31, 2024 for the following fund:
John Hancock California Municipal Bond Fund
John Hancock
California Municipal Bond Fund
Table of contents
| 1 | JOHN HANCOCK CALIFORNIA MUNICIPAL BOND FUND | |
Fund’s investments
AS OF
5-31-24
| Rate (%) | Maturity date | Par value^ | Value | ||
| Municipal bonds 100.8% | $380,786,966 | ||||
| (Cost $382,824,107) | |||||
| California 94.2% | 355,755,023 | ||||
| Alameda Corridor Transportation Authority Series A, (0.000% to 10-1-37, then 5.400% thereafter) | 0.000 | 10-01-50 | 2,500,000 | 1,360,127 | |
| Alum Rock Union Elementary School District Election of 2022, Series A, GO (A) | 5.000 | 08-01-53 | 1,000,000 | 1,073,330 | |
| Alvord Unified School District Election of 2022, Series A, GO (A) | 5.000 | 08-01-52 | 1,750,000 | 1,903,234 | |
| Anaheim City School District Election of 2010, GO (A) | 5.000 | 08-01-51 | 2,150,000 | 2,328,043 | |
| Antelope Valley Community College District Election of 2016, Series B, GO | 4.000 | 08-01-45 | 65,000 | 64,478 | |
| Antelope Valley Community College District Election of 2016, Series C, GO (B) | 4.467 | 08-01-38 | 1,000,000 | 533,515 | |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign Series B, AMT (A) | 4.125 | 07-01-41 | 1,000,000 | 973,746 | |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign Series B, AMT (A) | 4.250 | 07-01-43 | 500,000 | 488,092 | |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign Series B, AMT (A) | 4.375 | 07-01-49 | 1,000,000 | 972,487 | |
| Burlingame School District Election of 2020, Series B, GO | 5.000 | 08-01-52 | 3,460,000 | 3,754,093 | |
| California Community Choice Financing Authority Clean Energy Project, Series A | 4.000 | 10-01-52 | 1,250,000 | 1,249,323 | |
| California Community Choice Financing Authority Clean Energy Project, Series A-1 | 5.000 | 05-01-54 | 1,500,000 | 1,588,260 | |
| California Community Choice Financing Authority Clean Energy Project, Series B-1 | 4.000 | 02-01-52 | 1,000,000 | 992,169 | |
| California Community Choice Financing Authority Clean Energy Project, Series E1 | 5.000 | 02-01-54 | 1,000,000 | 1,053,731 | |
| California Community Choice Financing Authority Series D | 5.500 | 05-01-54 | 1,500,000 | 1,590,116 | |
| California Community College Financing Authority Napa Valley College Project, Series A (C) | 5.750 | 07-01-60 | 1,500,000 | 1,504,722 | |
| California Community Housing Agency Stoneridge Apartments, Series A (C) | 4.000 | 02-01-56 | 600,000 | 474,950 | |
| California County Tobacco Securitization Agency Fresno County Funding Corp. | 6.000 | 06-01-35 | 730,000 | 730,587 |
| SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK CALIFORNIA MUNICIPAL BOND FUND | 2 |
| Rate (%) | Maturity date | Par value^ | Value | ||
| California (continued) | |||||
| California County Tobacco Securitization Agency Kern County Tobacco Funding Corp. | 5.000 | 06-01-40 | 1,500,000 | $1,499,984 | |
| California County Tobacco Securitization Agency Louisiana County Securitization Corp. | 4.000 | 06-01-49 | 1,000,000 | 932,533 | |
| California County Tobacco Securitization Agency Merced County Tobacco Funding Corp. | 5.000 | 06-01-50 | 1,235,000 | 1,224,347 | |
| California County Tobacco Securitization Agency Series A | 5.000 | 06-01-29 | 400,000 | 429,716 | |
| California Educational Facilities Authority Stanford University, Series V-1 | 5.000 | 05-01-49 | 1,455,000 | 1,681,227 | |
| California Educational Facilities Authority Stanford University, Series V-2 | 5.000 | 04-01-51 | 3,500,000 | 4,047,358 | |
| California Educational Facilities Authority University of Redlands, Series A | 5.000 | 10-01-35 | 1,000,000 | 1,001,609 | |
| California Educational Facilities Authority University of the Pacific, Series A | 5.000 | 11-01-53 | 1,000,000 | 1,050,488 | |
| California Enterprise Development Authority Academy for Academic Excellence Project, Series A (C) | 5.000 | 07-01-40 | 430,000 | 430,515 | |
| California Enterprise Development Authority Academy for Academic Excellence Project, Series A (C) | 5.000 | 07-01-50 | 350,000 | 337,383 | |
| California Enterprise Development Authority Academy for Academic Excellence Project, Series A (C) | 5.000 | 07-01-55 | 240,000 | 228,195 | |
| California Enterprise Development Authority Curtis School Foundation Project | 4.000 | 06-01-49 | 350,000 | 334,390 | |
| California Enterprise Development Authority Curtis School Foundation Project | 4.000 | 06-01-53 | 40,000 | 37,698 | |
| California Enterprise Development Authority Curtis School Foundation Project | 5.000 | 06-01-37 | 100,000 | 110,662 | |
| California Enterprise Development Authority Curtis School Foundation Project | 5.000 | 06-01-38 | 125,000 | 137,066 | |
| California Enterprise Development Authority Curtis School Foundation Project | 5.000 | 06-01-39 | 100,000 | 108,964 | |
| California Enterprise Development Authority Curtis School Foundation Project | 5.000 | 06-01-40 | 150,000 | 162,377 | |
| California Enterprise Development Authority Curtis School Foundation Project | 5.000 | 06-01-41 | 125,000 | 134,589 | |
| California Enterprise Development Authority Curtis School Foundation Project | 5.000 | 06-01-42 | 200,000 | 214,296 | |
| California Enterprise Development Authority Curtis School Foundation Project | 5.000 | 06-01-43 | 110,000 | 117,137 | |
| California Enterprise Development Authority Pomona Properties LLC Project, Series A | 5.000 | 01-15-39 | 500,000 | 532,951 | |
| California Enterprise Development Authority Pomona Properties LLC Project, Series A | 5.000 | 01-15-45 | 1,000,000 | 1,040,665 |
| 3 | JOHN HANCOCK CALIFORNIA MUNICIPAL BOND FUND | | SEE NOTES TO FINANCIAL STATEMENTS |
| Rate (%) | Maturity date | Par value^ | Value | ||
| California (continued) | |||||
| California Health Facilities Financing Authority Adventist Health System, Series A | 5.000 | 03-01-40 | 1,555,000 | $1,598,166 | |
| California Health Facilities Financing Authority Adventist Health System, Series A | 5.250 | 12-01-42 | 1,000,000 | 1,087,310 | |
| California Health Facilities Financing Authority Adventist Health System, Series A | 5.250 | 12-01-43 | 1,000,000 | 1,084,328 | |
| California Health Facilities Financing Authority Cedars Sinai Health System, Series A | 4.000 | 08-15-48 | 1,850,000 | 1,790,133 | |
| California Health Facilities Financing Authority Cedars Sinai Health System, Series A | 5.000 | 08-15-51 | 430,000 | 457,549 | |
| California Health Facilities Financing Authority Children’s Hospital of Orange County, Series A | 5.000 | 11-01-54 | 1,030,000 | 1,107,393 | |
| California Health Facilities Financing Authority Children’s Hospital, Series A | 5.000 | 08-15-47 | 575,000 | 581,668 | |
| California Health Facilities Financing Authority City of Hope Obligated Group | 4.000 | 11-15-45 | 1,160,000 | 1,094,853 | |
| California Health Facilities Financing Authority City of Hope Obligated Group | 5.000 | 11-15-49 | 750,000 | 757,778 | |
| California Health Facilities Financing Authority Commonspirit Health, Series A | 4.000 | 04-01-37 | 1,550,000 | 1,541,434 | |
| California Health Facilities Financing Authority Commonspirit Health, Series A | 5.000 | 12-01-40 | 850,000 | 932,147 | |
| California Health Facilities Financing Authority Commonspirit Health, Series A | 5.000 | 12-01-54 | 1,000,000 | 1,054,670 | |
| California Health Facilities Financing Authority El Camino Hospital | 5.000 | 02-01-42 | 1,000,000 | 1,027,744 | |
| California Health Facilities Financing Authority El Camino Hospital | 5.000 | 02-01-47 | 1,425,000 | 1,453,273 | |
| California Health Facilities Financing Authority Episcopal Communities & Services, Series B | 5.250 | 11-15-48 | 1,000,000 | 1,055,717 | |
| California Health Facilities Financing Authority Episcopal Communities & Services, Series B | 5.250 | 11-15-53 | 500,000 | 523,728 | |
| California Health Facilities Financing Authority Episcopal Communities & Services, Series B | 5.250 | 11-15-58 | 1,000,000 | 1,039,182 | |
| California Health Facilities Financing Authority Lucile Packard Children’s Hospital, Series A | 5.000 | 08-15-43 | 970,000 | 970,602 | |
| California Health Facilities Financing Authority Lucile Packard Children’s Hospital, Series B | 5.000 | 08-15-55 | 1,000,000 | 1,011,955 | |
| California Health Facilities Financing Authority Standford Health Care, Series A | 4.000 | 08-15-50 | 1,515,000 | 1,459,207 | |
| California Housing Finance Agency Series A | 4.250 | 01-15-35 | 926,407 | 899,070 | |
| California Infrastructure & Economic Development Bank Academy of Motion Picture Arts & Sciences, Series A | 4.000 | 11-01-41 | 1,000,000 | 1,019,105 |
| SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK CALIFORNIA MUNICIPAL BOND FUND | 4 |
| Rate (%) | Maturity date | Par value^ | Value | ||
| California (continued) | |||||
| California Infrastructure & Economic Development Bank Academy of Motion Picture Arts & Sciences, Series A | 4.000 | 11-01-45 | 25,000 | $23,813 | |
| California Infrastructure & Economic Development Bank Academy of Motion Picture Arts & Sciences, Series A | 5.000 | 11-01-40 | 300,000 | 334,856 | |
| California Infrastructure & Economic Development Bank California Academy of Sciences, Series A | 3.250 | 08-01-29 | 1,700,000 | 1,657,222 | |
| California Infrastructure & Economic Development Bank California Science Center | 4.000 | 05-01-46 | 1,190,000 | 1,139,724 | |
| California Infrastructure & Economic Development Bank California State Teachers Retirement System | 4.000 | 08-01-49 | 1,000,000 | 956,319 | |
| California Infrastructure & Economic Development Bank Clean Water and Drinking Water State Revolving Fund | 4.000 | 10-01-47 | 1,000,000 | 1,004,553 | |
| California Infrastructure & Economic Development Bank Equitable School Revolving Fund, Series B | 4.000 | 11-01-45 | 400,000 | 375,260 | |
| California Infrastructure & Economic Development Bank Los Angeles County Museum of Natural History Foundation | 4.000 | 07-01-50 | 445,000 | 429,756 | |
| California Municipal Finance Authority Caritas Project, Series A | 5.250 | 08-15-58 | 800,000 | 810,428 | |
| California Municipal Finance Authority Certificates of Participation, Palomar Health, Series A (A) | 5.250 | 11-01-52 | 725,000 | 759,438 | |
| California Municipal Finance Authority Channing House Project, Series A (A) | 4.000 | 05-15-40 | 1,500,000 | 1,477,621 | |
| California Municipal Finance Authority Community Facilities District No. 2020-6 | 5.000 | 09-01-42 | 500,000 | 497,966 | |
| California Municipal Finance Authority Community Facilities District No. 2023-7 | 5.000 | 09-01-54 | 750,000 | 745,605 | |
| California Municipal Finance Authority HumanGood Obligated Group | 4.000 | 10-01-46 | 2,020,000 | 1,866,439 | |
| California Municipal Finance Authority HumanGood Obligated Group | 5.000 | 10-01-35 | 350,000 | 373,543 | |
| California Municipal Finance Authority HumanGood Obligated Group, Series A | 5.000 | 10-01-44 | 1,000,000 | 1,013,479 | |
| California Municipal Finance Authority Kern Regional Center Project, Series A | 5.000 | 05-01-49 | 750,000 | 757,632 | |
| California Municipal Finance Authority Northbay Healthcare, Series A | 5.250 | 11-01-47 | 1,495,000 | 1,433,137 | |
| California Municipal Finance Authority Paradise Valley Estates Project, Series A (A) | 5.000 | 01-01-49 | 1,500,000 | 1,558,279 |
| 5 | JOHN HANCOCK CALIFORNIA MUNICIPAL BOND FUND | | SEE NOTES TO FINANCIAL STATEMENTS |
| Rate (%) | Maturity date | Par value^ | Value | ||
| California (continued) | |||||
| California Municipal Finance Authority Samuel Merritt University | 5.250 | 06-01-53 | 650,000 | $680,813 | |
| California Municipal Finance Authority Series B (D) | 5.000 | 09-01-54 | 1,000,000 | 994,147 | |
| California Municipal Finance Authority St. Mary’s School-Aliso Viejo, Series A (C) | 5.000 | 05-01-34 | 270,000 | 276,821 | |
| California Municipal Finance Authority St. Mary’s School-Aliso Viejo, Series A (C) | 5.500 | 05-01-44 | 275,000 | 277,906 | |
| California Municipal Finance Authority St. Mary’s School-Aliso Viejo, Series A (C) | 5.750 | 05-01-54 | 390,000 | 395,199 | |
| California Municipal Finance Authority St. Mary’s School-Aliso Viejo, Series A (C) | 5.875 | 05-01-59 | 395,000 | 401,937 | |
| California Municipal Finance Authority United Airlines, Inc. Project, AMT | 4.000 | 07-15-29 | 1,600,000 | 1,588,491 | |
| California Municipal Finance Authority Westside Neighborhood School Project (C) | 6.200 | 06-15-54 | 550,000 | 573,355 | |
| California Municipal Finance Authority Westside Neighborhood School Project (C) | 6.375 | 06-15-64 | 2,000,000 | 2,090,302 | |
| California Pollution Control Financing Authority American Water Capital Corp. Project | 3.700 | 08-01-40 | 1,000,000 | 979,501 | |
| California Pollution Control Financing Authority San Diego County Water Authority Desalination Project Pipeline (C) | 5.000 | 07-01-39 | 1,000,000 | 1,035,497 | |
| California Pollution Control Financing Authority San Diego County Water Authority Desalination Project Pipeline (C) | 5.000 | 11-21-45 | 3,000,000 | 3,056,355 | |
| California Pollution Control Financing Authority Waste Management, Inc., Series A1, AMT | 3.375 | 07-01-25 | 2,000,000 | 1,992,944 | |
| California Pollution Control Financing Authority Waste Management, Inc., Series A3, AMT | 4.300 | 07-01-40 | 4,675,000 | 4,681,687 | |
| California Public Finance Authority Enso Village Project, Series A (C) | 5.000 | 11-15-51 | 1,025,000 | 901,561 | |
| California Public Finance Authority Excelsior Charter Schools Project, Series A (C) | 5.000 | 06-15-50 | 400,000 | 373,258 | |
| California Public Finance Authority Excelsior Charter Schools Project, Series A (C) | 5.000 | 06-15-55 | 475,000 | 437,499 | |
| California Public Finance Authority Henry Mayo Newhall Hospital | 5.000 | 10-15-47 | 1,000,000 | 989,333 | |
| California Public Finance Authority Sharp Healthcare, Series A | 5.000 | 08-01-47 | 1,010,000 | 1,047,773 | |
| California Public Finance Authority Trinity Classical Academy, Series A (C) | 5.000 | 07-01-44 | 685,000 | 623,154 | |
| California Public Finance Authority Trinity Classical Academy, Series A (C) | 5.000 | 07-01-54 | 1,000,000 | 864,618 | |
| California School Finance Authority Aspire Public Schools (C) | 5.000 | 08-01-41 | 1,375,000 | 1,379,538 | |
| California School Finance Authority Camino Nuevo Charter Academy (C) | 5.000 | 06-01-43 | 820,000 | 801,235 |
| SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK CALIFORNIA MUNICIPAL BOND FUND | 6 |
| Rate (%) | Maturity date | Par value^ | Value | ||
| California (continued) | |||||
| California School Finance Authority Granada Hills Charter High School Obligated Group (C) | 5.000 | 07-01-43 | 750,000 | $752,303 | |
| California School Finance Authority Hawking Steam Charter School (C) | 5.250 | 07-01-52 | 500,000 | 504,738 | |
| California School Finance Authority John Adams Academies, Series A (C) | 5.125 | 07-01-62 | 1,000,000 | 932,125 | |
| California School Finance Authority KIPP LA Project, Series A (C) | 5.000 | 07-01-47 | 1,500,000 | 1,506,931 | |
| California School Finance Authority New Designs Charter School, Series A (C) | 5.000 | 06-01-54 | 200,000 | 199,222 | |
| California School Finance Authority New Designs Charter School, Series A (C) | 5.000 | 06-01-64 | 300,000 | 293,638 | |
| California School Finance Authority Sonoma County Junior College (C) | 4.000 | 11-01-41 | 1,000,000 | 898,616 | |
| California School Finance Authority Sonoma County Junior College (C) | 4.000 | 11-01-55 | 580,000 | 469,760 | |
| California School Finance Authority Stem Preparatory School (C) | 5.000 | 06-01-43 | 750,000 | 742,661 | |
| California School Finance Authority Value Schools, Series A (C) | 5.250 | 07-01-48 | 500,000 | 500,894 | |
| California State Public Works Board Air Resource Board, Series D | 4.000 | 05-01-44 | 1,000,000 | 989,918 | |
| California State Public Works Board May Lee State Office Complex, Series A | 5.000 | 04-01-39 | 800,000 | 899,246 | |
| California State Public Works Board May Lee State Office Complex, Series A | 5.000 | 04-01-49 | 1,300,000 | 1,420,481 | |
| California State Public Works Board Various Capital Projects, Series B | 4.000 | 03-01-45 | 1,520,000 | 1,502,494 | |
| California State University Series A | 3.000 | 11-01-52 | 575,000 | 422,501 | |
| California State University Series A | 5.250 | 11-01-48 | 1,000,000 | 1,114,597 | |
| California State University Series A | 5.250 | 11-01-53 | 350,000 | 387,032 | |
| California Statewide Communities Development Authority Adventist Health System, Series A | 5.000 | 03-01-48 | 1,785,000 | 1,790,279 | |
| California Statewide Communities Development Authority CHF Irvine LLC | 5.000 | 05-15-40 | 1,440,000 | 1,450,871 | |
| California Statewide Communities Development Authority Community Facilities District No. 2020-02 | 5.125 | 09-01-42 | 1,000,000 | 1,009,380 | |
| California Statewide Communities Development Authority Community Facilities District No. 2022-03 | 5.000 | 09-01-43 | 1,020,000 | 989,414 | |
| California Statewide Communities Development Authority Emanate Health, Series A | 4.000 | 04-01-45 | 1,880,000 | 1,754,270 |
| 7 | JOHN HANCOCK CALIFORNIA MUNICIPAL BOND FUND | | SEE NOTES TO FINANCIAL STATEMENTS |
| Rate (%) | Maturity date | Par value^ | Value | ||
| California (continued) | |||||
| California Statewide Communities Development Authority Enloe Medical Center, Series A (A) | 5.250 | 08-15-52 | 1,000,000 | $1,060,528 | |
| California Statewide Communities Development Authority Front Porch Communities & Services | 3.000 | 04-01-37 | 2,000,000 | 1,793,305 | |
| California Statewide Communities Development Authority Front Porch Communities & Services, Series A | 5.000 | 04-01-47 | 750,000 | 761,095 | |
| California Statewide Communities Development Authority Improvement Area No. 3 | 5.000 | 09-01-54 | 550,000 | 543,409 | |
| California Statewide Communities Development Authority Infrastructure Program, Series A | 4.000 | 09-02-51 | 970,000 | 806,954 | |
| California Statewide Communities Development Authority Infrastructure Program, Series B | 5.000 | 09-02-44 | 625,000 | 625,509 | |
| California Statewide Communities Development Authority John Muir Health, Series A | 4.000 | 08-15-46 | 770,000 | 731,473 | |
| California Statewide Communities Development Authority Redlands Community Hospital | 5.000 | 10-01-46 | 1,500,000 | 1,513,166 | |
| California Statewide Communities Development Authority Series 2021-A | 4.000 | 09-02-41 | 990,000 | 893,783 | |
| California Statewide Financing Authority Tobacco Securitization Program, Series C (B)(C) | 9.876 | 06-01-55 | 12,000,000 | 620,318 | |
| California Statewide Financing Authority Tobacco Settlement, Series A | 6.000 | 05-01-37 | 1,595,000 | 1,628,897 | |
| California Statewide Financing Authority Tobacco Settlement, Series B | 6.000 | 05-01-37 | 1,915,000 | 1,955,698 | |
| Campbell Union School District Series 2010-J and Series 2022-A, GO | 4.000 | 08-01-48 | 1,500,000 | 1,453,964 | |
| Campbell Union School District Series 2010-J and Series 2022-A, GO | 4.000 | 08-01-49 | 185,000 | 178,450 | |
| Campbell Union School District Series 2010-J and Series 2022-A, GO | 4.000 | 08-01-50 | 175,000 | 168,535 | |
| Center Joint Unified School District Election of 2008, Series C, GO (A) | 4.125 | 08-01-46 | 1,250,000 | 1,250,282 | |
| Chaffey Joint Union High School District Election of 2012, Series G, GO | 5.250 | 08-01-52 | 2,000,000 | 2,191,623 | |
| Chino Valley Unified School District Election of 2016, Series C, GO (B) | 3.990 | 08-01-36 | 250,000 | 154,220 | |
| Chino Valley Unified School District Election of 2016, Series C, GO (B) | 4.333 | 08-01-40 | 400,000 | 199,453 |
| SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK CALIFORNIA MUNICIPAL BOND FUND | 8 |
| Rate (%) | Maturity date | Par value^ | Value | ||
| California (continued) | |||||
| City & County of San Francisco Community Facilities District No. 2016-1 Improvement Area No. 2, Treasure Island, Series A (C) | 4.000 | 09-01-42 | 250,000 | $224,345 | |
| City & County of San Francisco Infrastructure & Revitalization Financing District No. 1 Series A (C) | 5.000 | 09-01-52 | 900,000 | 836,666 | |
| City of Burbank Water and Power Electric Revenue | 5.000 | 06-01-39 | 400,000 | 443,025 | |
| City of Burbank Water and Power Electric Revenue | 5.000 | 06-01-40 | 700,000 | 772,518 | |
| City of Emeryville Election of 2018, Series B, GO | 4.900 | 08-01-48 | 500,000 | 460,910 | |
| City of Fresno Airport Revenue Series A, AMT (A) | 4.000 | 07-01-42 | 1,000,000 | 952,729 | |
| City of Fresno Airport Revenue Series A, AMT (A) | 5.000 | 07-01-48 | 1,000,000 | 1,037,410 | |
| City of Irvine Community Facilities District No. 2013-3, Great Park | 5.000 | 09-01-49 | 1,730,000 | 1,731,417 | |
| City of Long Beach Alamitos Bay Marina Project | 5.000 | 05-15-45 | 280,000 | 277,324 | |
| City of Long Beach Community Facilities District 6-Pike Project | 6.250 | 10-01-26 | 975,000 | 976,551 | |
| City of Long Beach Water Revenue | 4.000 | 05-01-54 | 1,725,000 | 1,677,459 | |
| City of Long Beach Airport System Revenue Series C, AMT (A) | 5.000 | 06-01-42 | 450,000 | 472,951 | |
| City of Long Beach Harbor Revenue Series A | 5.000 | 05-15-44 | 500,000 | 529,683 | |
| City of Los Angeles Department of Airports Los Angeles International Airport, AMT | 4.125 | 05-15-43 | 1,885,000 | 1,838,662 | |
| City of Los Angeles Department of Airports Los Angeles International Airport, AMT | 5.250 | 05-15-48 | 900,000 | 962,038 | |
| City of Los Angeles Department of Airports Los Angeles International Airport, Series A, AMT | 4.000 | 05-15-44 | 1,400,000 | 1,323,080 | |
| City of Los Angeles Department of Airports Los Angeles International Airport, Series A, AMT | 4.000 | 05-15-49 | 1,500,000 | 1,373,465 | |
| City of Los Angeles Department of Airports Los Angeles International Airport, Series F, AMT | 3.000 | 05-15-49 | 1,000,000 | 735,571 | |
| City of Ontario Community Facilities District No. 56 | 5.250 | 09-01-43 | 900,000 | 924,554 | |
| City of Oroville Oroville Hospital | 5.250 | 04-01-54 | 1,000,000 | 681,886 | |
| City of Palm Desert Community Facilities District No. 2021-1 | 5.000 | 09-01-44 | 1,000,000 | 975,229 | |
| City of Palm Desert Community Facilities District No. 2021-1 | 5.000 | 09-01-53 | 525,000 | 497,878 |
| 9 | JOHN HANCOCK CALIFORNIA MUNICIPAL BOND FUND | | SEE NOTES TO FINANCIAL STATEMENTS |
| Rate (%) | Maturity date | Par value^ | Value | ||
| California (continued) | |||||
| City of Rocklin Community Facilities District No. 10 Whitney (A) | 4.000 | 09-01-43 | 1,950,000 | $1,945,557 | |
| City of Sacramento Greenbriar Community Facilities District No. 2018-3 | 4.000 | 09-01-50 | 500,000 | 419,180 | |
| City of San Francisco Public Utilities Commission Water Revenue Local Water, Series C | 4.000 | 11-01-50 | 1,000,000 | 971,488 | |
| City of San Francisco Public Utilities Commission Water Revenue Regional and Local Water, Series A | 5.250 | 11-01-48 | 2,000,000 | 2,225,845 | |
| City of San Francisco Public Utilities Commission Water Revenue Series A | 4.000 | 11-01-39 | 1,000,000 | 986,736 | |
| City of Vernon Electric System Revenue Series 2022-A | 5.000 | 08-01-41 | 775,000 | 807,688 | |
| City of Victorville Electric Revenue Series A | 5.000 | 05-01-34 | 500,000 | 553,677 | |
| City of Victorville Electric Revenue Series A | 5.000 | 05-01-35 | 540,000 | 597,134 | |
| City of Victorville Electric Revenue Series A | 5.000 | 05-01-36 | 500,000 | 550,896 | |
| Coachella Valley Water District Stormwater System Revenue Certificates of Participation, Series A | 5.000 | 08-01-35 | 920,000 | 1,052,244 | |
| Coachella Valley Water District Stormwater System Revenue Certificates of Participation, Series A | 5.000 | 08-01-36 | 975,000 | 1,112,119 | |
| Compton Community Redevelopment Agency Successor Agency Series A (A) | 5.000 | 08-01-42 | 1,215,000 | 1,299,930 | |
| Contra Costa Water District Water Revenue | 5.000 | 10-01-53 | 900,000 | 977,053 | |
| County of Sacramento Metro Air Park Community Facilities District No. 2000-1 | 5.000 | 09-01-47 | 1,000,000 | 963,713 | |
| CSCDA Community Improvement Authority 1818 Platinum Triangle Anaheim, Series A-2 (C) | 3.250 | 04-01-57 | 300,000 | 216,018 | |
| CSCDA Community Improvement Authority Altana Glendale, Series A-1 (C) | 3.500 | 10-01-46 | 500,000 | 397,478 | |
| CSCDA Community Improvement Authority Altana Glendale, Series A-2 (C) | 4.000 | 10-01-56 | 1,000,000 | 767,016 | |
| CSCDA Community Improvement Authority Monterey Station Apartments, Series A-2 (C) | 3.125 | 07-01-56 | 1,500,000 | 997,636 | |
| CSCDA Community Improvement Authority Orange City Portfolio, Series A-2 (C) | 3.000 | 03-01-57 | 1,200,000 | 815,227 | |
| CSCDA Community Improvement Authority Parallel Apartments Anaheim, Series A (C) | 4.000 | 08-01-56 | 995,000 | 837,993 |
| SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK CALIFORNIA MUNICIPAL BOND FUND | 10 |
| Rate (%) | Maturity date | Par value^ | Value | ||
| California (continued) | |||||
| CSCDA Community Improvement Authority The Link-Glendale, Series A-2 (C) | 4.000 | 07-01-56 | 600,000 | $438,035 | |
| Del Mar Union School District Election of 2018, Series B, GO | 4.000 | 08-01-46 | 1,000,000 | 1,005,947 | |
| Downey Unified School District Series C, GO | 3.000 | 08-01-45 | 1,840,000 | 1,459,159 | |
| Duarte Unified School District Election of 2020, Series B, GO (A) | 4.250 | 08-01-48 | 1,285,000 | 1,298,267 | |
| El Monte City School District Election of 2008, Series C, GO (A) | 4.000 | 08-01-47 | 100,000 | 98,060 | |
| El Monte Union High School District Election of 2018, Series C, GO (D) | 4.000 | 06-01-53 | 750,000 | 727,958 | |
| Encinitas Public Financing Authority | 4.000 | 10-01-49 | 1,010,000 | 978,839 | |
| Encinitas Public Financing Authority | 4.000 | 10-01-54 | 1,000,000 | 960,479 | |
| Encinitas Public Financing Authority | 5.000 | 10-01-39 | 175,000 | 196,219 | |
| Encinitas Public Financing Authority | 5.000 | 10-01-40 | 180,000 | 200,300 | |
| Encinitas Public Financing Authority | 5.000 | 10-01-41 | 190,000 | 209,463 | |
| Foothill-Eastern Transportation Corridor Agency Series B-2 (A) | 3.500 | 01-15-53 | 2,280,000 | 1,953,057 | |
| Golden State Tobacco Securitization Corp. Series B-2 (B) | 5.341 | 06-01-66 | 15,650,000 | 1,704,535 | |
| Golden State Tobacco Securitization Corp. Tobacco Settlement, Series A-1 | 5.000 | 06-01-51 | 1,000,000 | 1,028,048 | |
| Imperial Community College District Election of 2022, Series A, GO (A) | 5.250 | 08-01-53 | 255,000 | 277,522 | |
| Imperial Community College District Election of 2022, Series B, GO (A) | 5.000 | 08-01-54 | 1,000,000 | 1,077,372 | |
| Independent Cities Finance Authority Union City Tropics | 3.250 | 05-15-39 | 1,260,000 | 1,075,846 | |
| Independent Cities Finance Authority Union City Tropics | 4.000 | 05-15-32 | 760,000 | 755,152 | |
| Inland Valley Development Agency Series A | 5.000 | 09-01-44 | 375,000 | 376,755 | |
| Irvine Facilities Financing Authority Great Park Infrastructure Project (A) | 4.000 | 09-01-58 | 1,750,000 | 1,658,573 | |
| Jefferson Union High School District Measure Z, Series A, GO | 5.000 | 08-01-43 | 400,000 | 442,259 | |
| Jefferson Union High School District Measure Z, Series A, GO | 5.000 | 08-01-44 | 570,000 | 627,375 | |
| Jurupa Community Services District Community Facilities District No. 31 Eastvale Project (A) | 4.000 | 09-01-38 | 1,015,000 | 1,021,435 | |
| Jurupa Community Services District Community Facilities District No. 31 Eastvale Project (A) | 4.000 | 09-01-42 | 1,325,000 | 1,313,440 | |
| Kaweah Delta Health Care District Guild Series B | 4.000 | 06-01-37 | 50,000 | 43,191 | |
| La Mesa-Spring Valley School District Election of 2020, Series B, GO | 4.000 | 08-01-42 | 200,000 | 199,798 |
| 11 | JOHN HANCOCK CALIFORNIA MUNICIPAL BOND FUND | | SEE NOTES TO FINANCIAL STATEMENTS |
| Rate (%) | Maturity date | Par value^ | Value | ||
| California (continued) | |||||
| La Mesa-Spring Valley School District Election of 2020, Series B, GO | 4.000 | 08-01-43 | 290,000 | $288,509 | |
| La Mesa-Spring Valley School District Election of 2020, Series B, GO | 4.000 | 08-01-51 | 750,000 | 727,087 | |
| Long Beach Bond Finance Authority Lease Revenue | 5.000 | 08-01-31 | 325,000 | 365,121 | |
| Long Beach Bond Finance Authority Lease Revenue | 5.000 | 08-01-46 | 1,000,000 | 1,062,855 | |
| Long Beach Community College District Election of 2016, Series C, GO | 4.000 | 08-01-45 | 15,000 | 14,901 | |
| Los Angeles Community College District Election of 2008, Series K, GO | 3.000 | 08-01-39 | 1,080,000 | 945,304 | |
| Los Angeles Department of Water & Power Series A | 5.000 | 07-01-43 | 2,500,000 | 2,776,375 | |
| Los Angeles Department of Water & Power Series C | 5.000 | 07-01-51 | 2,000,000 | 2,140,029 | |
| Los Angeles Department of Water & Power Series D | 5.000 | 07-01-52 | 1,000,000 | 1,078,611 | |
| Los Angeles Unified School District Series A, GO | 5.000 | 07-01-34 | 3,500,000 | 4,047,967 | |
| Los Angeles Unified School District Series QRR, GO | 5.250 | 07-01-47 | 2,500,000 | 2,753,601 | |
| Los Angeles Unified School District Series RYQ, GO | 4.000 | 07-01-44 | 1,825,000 | 1,786,497 | |
| Menlo Park City School District, GO | 4.000 | 07-01-38 | 300,000 | 321,067 | |
| Menlo Park City School District, GO | 4.000 | 07-01-39 | 300,000 | 316,405 | |
| Menlo Park City School District, GO | 4.000 | 07-01-40 | 600,000 | 626,075 | |
| Menlo Park City School District, GO | 4.000 | 07-01-41 | 1,000,000 | 1,034,644 | |
| Miracosta Community College District Certificates of Participation, 2023 School Financing Project | 4.500 | 07-01-53 | 1,000,000 | 1,024,220 | |
| Moreno Valley Unified School District Election of 2014, Series C, GO (A) | 3.000 | 08-01-46 | 1,945,000 | 1,526,538 | |
| Moreno Valley Unified School District Election of 2014, Series D, GO (A) | 4.000 | 08-01-45 | 1,000,000 | 981,976 | |
| Mount San Antonio Community College District Election of 2008, Series E, GO (B) | 4.460 | 08-01-45 | 3,010,000 | 1,179,180 | |
| Mountain View School District Election of 2020, Series B, GO (A) | 5.000 | 08-01-49 | 395,000 | 418,973 | |
| M-S-R Energy Authority Series B | 6.500 | 11-01-39 | 1,500,000 | 1,854,375 | |
| M-S-R Energy Authority Series B | 7.000 | 11-01-34 | 10,000 | 12,039 | |
| Norman Y. Mineta San Jose International Airport SJC Series A, AMT | 5.000 | 03-01-47 | 1,500,000 | 1,509,064 | |
| Northern California Energy Authority Commodity Supply Revenue | 5.000 | 12-01-54 | 1,500,000 | 1,586,029 |
| SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK CALIFORNIA MUNICIPAL BOND FUND | 12 |
| Rate (%) | Maturity date | Par value^ | Value | ||
| California (continued) | |||||
| Oak Grove School District Election of 2022, Series A-2, GO | 4.000 | 08-01-49 | 2,000,000 | $1,917,725 | |
| Ontario Public Financing Authority Civic Center Improvements, Series A (A) | 5.000 | 11-01-52 | 1,195,000 | 1,259,041 | |
| Orange County Community Facilities District 2017-1 Esencia Village Improvement Area No. 1, Series A | 5.000 | 08-15-47 | 1,565,000 | 1,578,323 | |
| Orange County Community Facilities District No. 2021-1 Rienda, Series A | 5.000 | 08-15-52 | 500,000 | 496,768 | |
| Orange County Community Facilities District Rienda Phase 2B | 5.500 | 08-15-53 | 700,000 | 712,024 | |
| Pacifica School District Series C, GO (A)(B) | 3.806 | 08-01-26 | 1,000,000 | 921,102 | |
| Palmdale Water District Public Financing Authority Series A (A) | 4.000 | 10-01-49 | 2,500,000 | 2,432,228 | |
| Palmdale Water District Public Financing Authority Series A (A) | 4.125 | 10-01-50 | 1,000,000 | 989,171 | |
| Poway Public Financing Authority Series A (A) | 5.250 | 06-01-53 | 2,000,000 | 2,175,357 | |
| Redwood City Public Facilities & Infrastructure Authority Veterans Memorial Building Senior Center | 3.000 | 06-01-51 | 1,795,000 | 1,332,776 | |
| Regents of the University of California Medical Center Pooled Revenue Series P | 4.000 | 05-15-43 | 1,500,000 | 1,470,914 | |
| Rialto Public Financing Authority Police Station Project, Series A | 5.250 | 06-01-53 | 1,000,000 | 1,073,986 | |
| River Islands Public Financing Authority Community Facilities District No. 2003-1, Series A | 5.000 | 09-01-48 | 1,000,000 | 983,976 | |
| River Islands Public Financing Authority Community Facilities District No. 2016-1 (A) | 4.250 | 09-01-42 | 1,000,000 | 1,000,270 | |
| River Islands Public Financing Authority Community Facilities District No. 2016-1 (A) | 5.250 | 09-01-52 | 500,000 | 536,683 | |
| River Islands Public Financing Authority Lathrop Irrigation District (A) | 4.000 | 09-01-35 | 1,125,000 | 1,153,728 | |
| Riverside County Transportation Commission Route 91 Express Lanes, Series C | 4.000 | 06-01-47 | 1,665,000 | 1,565,773 | |
| Sacramento City Unified School District Series B, GO (A) | 5.000 | 08-01-43 | 1,000,000 | 1,087,989 | |
| Sacramento Municipal Utility District Series H | 4.000 | 08-15-45 | 750,000 | 744,924 | |
| Sacramento Municipal Utility District Series M | 5.000 | 11-15-39 | 1,000,000 | 1,139,812 | |
| Sacramento Municipal Utility District Series M | 5.000 | 11-15-54 | 1,000,000 | 1,092,362 | |
| Salinas City Elementary School District Election of 2022, Measure G, Series A, GO (A) | 4.000 | 08-01-53 | 95,000 | 90,971 |
| 13 | JOHN HANCOCK CALIFORNIA MUNICIPAL BOND FUND | | SEE NOTES TO FINANCIAL STATEMENTS |
| Rate (%) | Maturity date | Par value^ | Value | ||
| California (continued) | |||||
| Salinas Union High School District Certificates of Participation, Workforce Housing Project (A) | 4.125 | 06-01-42 | 125,000 | $125,431 | |
| Salinas Union High School District Series A, GO | 4.000 | 08-01-47 | 1,200,000 | 1,188,757 | |
| Salinas Union High School District Series B, GO | 4.000 | 08-01-49 | 1,200,000 | 1,190,595 | |
| San Bernardino Community College District Election of 2002, Series D, GO (B) | 3.540 | 08-01-33 | 2,000,000 | 1,447,033 | |
| San Bernardino Community College District Election of 2008, Series B, GO (B) | 4.558 | 08-01-44 | 1,530,000 | 614,513 | |
| San Diego County Regional Airport Authority Series A | 4.000 | 07-01-46 | 2,000,000 | 1,931,695 | |
| San Diego County Regional Airport Authority Series A | 4.000 | 07-01-51 | 2,000,000 | 1,909,972 | |
| San Diego County Regional Airport Authority Series B, AMT | 4.000 | 07-01-39 | 1,000,000 | 968,029 | |
| San Diego Unified School District Election of 2008, Series K-2, GO (B) | 4.009 | 07-01-33 | 205,000 | 142,696 | |
| San Diego Unified School District Election of 2012, Series O-2, GO | 4.250 | 07-01-47 | 1,460,000 | 1,477,925 | |
| San Diego Unified School District Election of 2012, Series ZR-5C, GO (D) | 5.000 | 07-01-39 | 1,000,000 | 1,103,944 | |
| San Diego Unified School District Election of 2022, Series A-3, GO | 4.000 | 07-01-53 | 2,700,000 | 2,606,983 | |
| San Francisco Bay Area Rapid Transit District Election of 2016, Series D1, GO (E) | 4.000 | 08-01-37 | 2,810,000 | 2,852,700 | |
| San Francisco Bay Area Rapid Transit District Election of 2016, Series D1, GO (E) | 4.250 | 08-01-52 | 7,305,000 | 7,313,839 | |
| San Francisco Bay Area Rapid Transit District Sales Tax Revenue Series A | 3.000 | 07-01-44 | 2,000,000 | 1,590,560 | |
| San Francisco City & County Airport Commission Series A, AMT | 4.000 | 05-01-49 | 10,000 | 10,006 | |
| San Francisco City & County Airport Commission Series A, AMT | 4.000 | 05-01-49 | 780,000 | 703,042 | |
| San Francisco City & County Airport Commission Series A, AMT | 5.000 | 05-01-38 | 1,000,000 | 1,070,691 | |
| San Francisco City & County Airport Commission Series A, AMT | 5.000 | 05-01-49 | 1,470,000 | 1,495,523 | |
| San Francisco City & County Airport Commission Series E, AMT | 5.000 | 05-01-50 | 1,705,000 | 1,733,525 | |
| San Francisco City & County Airport Commission SFO Fuel Company, AMT | 5.000 | 01-01-47 | 2,000,000 | 2,040,085 |
| SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK CALIFORNIA MUNICIPAL BOND FUND | 14 |
| Rate (%) | Maturity date | Par value^ | Value | ||
| California (continued) | |||||
| San Francisco City & County Public Utilities Commission Power Revenue Series A | 5.000 | 11-01-45 | 1,500,000 | $1,513,337 | |
| San Francisco City & County Public Utilities Commission Wastewater Revenue Series A | 4.000 | 10-01-51 | 1,155,000 | 1,121,487 | |
| San Francisco City & County Redevelopment Successor Agency Mission Bay Project, Series A | 5.000 | 08-01-43 | 375,000 | 375,252 | |
| San Joaquin Hills Transportation Corridor Agency Series A | 4.000 | 01-15-50 | 1,000,000 | 941,794 | |
| San Joaquin Hills Transportation Corridor Agency Toll Road Revenue, Series A | 5.000 | 01-15-33 | 1,500,000 | 1,648,641 | |
| San Jose Evergreen Community College District Election of 2016, Series C, GO | 4.000 | 09-01-43 | 1,000,000 | 1,010,390 | |
| San Jose Financing Authority Series B | 5.000 | 11-01-52 | 1,000,000 | 1,087,535 | |
| San Luis Obispo Public Financing Authority Cultural Arts District Parking Project | 5.000 | 12-01-53 | 1,490,000 | 1,614,609 | |
| San Mateo Foster City School District Election of 2020, Series B, GO | 4.000 | 08-01-42 | 1,000,000 | 1,016,043 | |
| San Ysidro School District Series A, GO (A) | 4.000 | 08-01-43 | 2,000,000 | 1,938,132 | |
| Santa Ana Financing Authority Police Administration & Holding Facility, Series A (A) | 6.250 | 07-01-24 | 1,125,000 | 1,126,916 | |
| Santa Ana Financing Authority Prerefunded, Police Administration & Holding Facility, Series A (A) | 6.250 | 07-01-24 | 1,130,000 | 1,131,878 | |
| Santa Ana Unified School District Election of 2018, Series C, GO | 4.000 | 08-01-44 | 2,000,000 | 2,004,195 | |
| Santa Clara Valley Water District Safe Clean Water Revenue Series A | 5.000 | 08-01-47 | 1,000,000 | 1,081,107 | |
| Santa Cruz County Capital Financing Authority Green Bond | 4.125 | 06-01-48 | 1,005,000 | 1,001,145 | |
| Santa Maria Joint Union High School District Election of 2016, GO | 3.000 | 08-01-41 | 1,000,000 | 822,128 | |
| Santa Maria Joint Union High School District Election of 2016, GO | 3.000 | 08-01-42 | 1,670,000 | 1,359,958 | |
| Santa Monica Community College District Series B, GO | 4.000 | 08-01-45 | 1,155,000 | 1,160,691 | |
| Sebastopol Union School District Series B, GO | 5.000 | 08-01-53 | 2,530,000 | 2,719,155 | |
| Shasta Union High School District Election of 2016, GO | 4.000 | 08-01-50 | 1,500,000 | 1,446,888 | |
| Southern California Public Power Authority Apex Power Project, Series A | 5.000 | 07-01-38 | 1,000,000 | 1,002,938 |
| 15 | JOHN HANCOCK CALIFORNIA MUNICIPAL BOND FUND | | SEE NOTES TO FINANCIAL STATEMENTS |
| Rate (%) | Maturity date | Par value^ | Value | ||
| California (continued) | |||||
| Southern California Public Power Authority Natural Gas Project, Series A | 5.250 | 11-01-26 | 2,000,000 | $2,037,890 | |
| Southern California Public Power Authority Southern Transmission System Renewal Project, Series 2024-1 | 5.000 | 07-01-53 | 1,750,000 | 1,911,263 | |
| State of California Various Purpose, GO | 5.000 | 10-01-42 | 2,000,000 | 2,202,388 | |
| State of California Various Purpose, GO | 5.000 | 10-01-45 | 1,100,000 | 1,203,986 | |
| State of California, GO | 4.000 | 09-01-52 | 2,000,000 | 1,941,320 | |
| State of California, GO | 5.000 | 09-01-53 | 2,000,000 | 2,172,453 | |
| Stockton Community Facilities District Imporvement Area No. 3, Westlake Villages | 5.000 | 09-01-54 | 625,000 | 611,835 | |
| Stockton Unified School District, GO (A) | 5.000 | 08-01-38 | 905,000 | 1,034,192 | |
| Stockton Unified School District, GO (A) | 5.000 | 08-01-41 | 500,000 | 560,406 | |
| Sweetwater Union High School District Election of 2018, Series A-1, GO | 5.000 | 08-01-52 | 2,000,000 | 2,139,855 | |
| Three Rivers Levee Improvement Authority Community Facilities District No. 2006-1, Series A | 4.000 | 09-01-51 | 1,000,000 | 819,278 | |
| Tobacco Securitization Authority of Southern California Tobacco Settlement, Series B1-2 | 5.000 | 06-01-48 | 1,960,000 | 1,965,592 | |
| Transbay Joint Powers Authority Series A | 5.000 | 10-01-32 | 345,000 | 357,052 | |
| Union Elementary School District Election of 2022, Series A, GO | 4.000 | 09-01-52 | 1,000,000 | 968,319 | |
| University of California Series AZ | 5.000 | 05-15-48 | 1,500,000 | 1,563,715 | |
| University of California Series BK | 5.000 | 05-15-52 | 1,720,000 | 1,840,026 | |
| University of California Series BM | 5.000 | 05-15-39 | 1,000,000 | 1,123,632 | |
| University of California Series BV | 5.000 | 05-15-43 | 1,000,000 | 1,113,252 | |
| University of California Series BV | 5.000 | 05-15-44 | 500,000 | 554,821 | |
| Val Verde Unified School District Election of 2020, Series B, GO (A) | 4.000 | 08-01-51 | 1,345,000 | 1,289,554 | |
| Vista Unified School District Series B, GO (A) | 4.250 | 08-01-44 | 1,500,000 | 1,529,067 | |
| Vista Unified School District Series B, GO (A) | 5.000 | 08-01-42 | 1,000,000 | 1,103,206 | |
| West Hollywood Public Financing Authority Series A | 3.000 | 04-01-42 | 2,000,000 | 1,617,922 | |
| William S. Hart Union High School District Community Facilities District No. 2015-1 | 5.000 | 09-01-47 | 1,000,000 | 1,007,264 | |
| Windsor Unified School District Election of 2016, GO (A) | 4.000 | 08-01-46 | 2,100,000 | 2,101,973 |
| SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK CALIFORNIA MUNICIPAL BOND FUND | 16 |
| Rate (%) | Maturity date | Par value^ | Value | ||
| California (continued) | |||||
| Yorba Linda Water District Public Financing Corp. Series A | 4.000 | 10-01-52 | 190,000 | $186,399 | |
| Connecticut 0.1% | 448,213 | ||||
| Town of Hamden Whitney Center Project | 5.000 | 01-01-50 | 500,000 | 448,213 | |
| Indiana 0.2% | 792,990 | ||||
| Kokomo Redevelopment Authority (A) | 4.000 | 08-01-42 | 820,000 | 792,990 | |
| Massachusetts 0.2% | 822,867 | ||||
| Town of Maynard, GO | 4.000 | 04-15-50 | 870,000 | 822,867 | |
| New Hampshire 0.8% | 2,907,786 | ||||
| New Hampshire Business Finance Authority Wheeling Power Company Project, Series A (C) | 6.890 | 04-01-34 | 2,850,000 | 2,907,786 | |
| Ohio 0.7% | 2,795,024 | ||||
| Buckeye Tobacco Settlement Financing Authority Series B-2, Class 2 | 5.000 | 06-01-55 | 1,495,000 | 1,337,595 | |
| Port of Greater Cincinnati Development Authority Duke Energy Convention Center Project, Series B (A) | 4.375 | 12-01-58 | 1,500,000 | 1,457,429 | |
| Puerto Rico 2.1% | 8,041,259 | ||||
| Puerto Rico Commonwealth CW Guarantee Bond Claims, GO (B) | 2.456 | 11-01-43 | 4,705,015 | 2,917,109 | |
| Puerto Rico Commonwealth Series A-1, GO | 4.000 | 07-01-46 | 2,500,000 | 2,251,542 | |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Series A-1 (B) | 5.239 | 07-01-46 | 3,825,000 | 1,218,344 | |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Series A-1 (B) | 5.387 | 07-01-51 | 3,450,000 | 815,976 | |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Series A-2 | 4.784 | 07-01-58 | 850,000 | 838,288 | |
| South Carolina 0.4% | 1,589,185 | ||||
| Spartanburg County School District No. 5, GO | 3.000 | 03-01-35 | 1,750,000 | 1,589,185 | |
| South Dakota 0.7% | 2,759,270 | ||||
| South Dakota Health & Educational Facilities Authority Avera Health, Series A | 4.000 | 07-01-44 | 2,900,000 | 2,759,270 | |
| Texas 0.8% | 2,803,902 | ||||
| New Caney Independent School District, GO (D) | 4.000 | 02-15-49 | 1,000,000 | 944,965 | |
| New Caney Independent School District, GO (D) | 4.000 | 02-15-54 | 1,000,000 | 926,008 |
| 17 | JOHN HANCOCK CALIFORNIA MUNICIPAL BOND FUND | | SEE NOTES TO FINANCIAL STATEMENTS |
| Rate (%) | Maturity date | Par value^ | Value | ||
| Texas (continued) | |||||
| Waxahachie Independent School District, GO (D) | 4.000 | 02-15-53 | 1,000,000 | $932,929 | |
| Virgin Islands 0.6% | 2,071,447 | ||||
| Matching Fund Special Purpose Securitization Corp. Series A | 5.000 | 10-01-39 | 2,000,000 | 2,071,447 | |
| Shares | Value | ||||
| Closed-end funds 0.3% | $1,158,050 | ||||
| (Cost $1,039,842) | |||||
| Invesco California Value Municipal Income Trust | 115,000 | 1,158,050 | |||
| Yield (%) | Shares | Value | |||
| Short-term investments 0.9% | $3,328,510 | ||||
| (Cost $3,328,409) | |||||
| Short-term funds 0.9% | |||||
| John Hancock Collateral Trust (F) | 5.2280(G) | 332,961 | 3,328,510 | ||
| Total investments (Cost $387,192,358) 102.0% | $385,273,526 | ||||
| Other assets and liabilities, net (2.0%) | (7,384,986) | ||||
| Total net assets 100.0% | $377,888,540 | ||||
| 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 | |
| AMT | Interest earned from these securities may be considered a tax preference item for purpose of the Federal Alternative Minimum Tax. |
| GO | General Obligation |
| (A) | Bond is insured by one or more of the companies listed in the insurance coverage table below. |
| (B) | 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. |
| (C) | 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. |
| (D) | Security purchased or sold on a when-issued or delayed delivery basis. |
| (E) | All or a portion of this security represents the municipal bond held by a trust that issues residual inverse floating rate interests. See Note 2 for more information. |
| (F) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |
| (G) | The rate shown is the annualized seven-day yield as of 5-31-24. |
At 5-31-24, the aggregate cost of
investments for federal income tax purposes was $386,651,934. Net unrealized depreciation aggregated to $1,378,408, of which $5,958,161 related to gross unrealized appreciation and $7,336,569 related to gross
unrealized depreciation.
| SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK CALIFORNIA MUNICIPAL BOND FUND | 18 |
| Insurance coverage | As a % of total investments |
| Assured Guaranty Municipal Corp. | 7.0 |
| Build America Mutual Assurance Company | 6.4 |
| National Public Finance Guarantee Corp. | 0.8 |
| California Mortgage Insurance | 0.8 |
| TOTAL | 15.0 |
| 19 | JOHN HANCOCK CALIFORNIA MUNICIPAL BOND FUND | | SEE NOTES TO FINANCIAL STATEMENTS |
Financial statements
STATEMENT OF ASSETS AND
LIABILITIES 5-31-24
| Assets | |
| Unaffiliated investments, at value (Cost $383,863,949) | $381,945,016 |
| Affiliated investments, at value (Cost $3,328,409) | 3,328,510 |
| Total investments, at value (Cost $387,192,358) | 385,273,526 |
| Interest receivable | 3,995,747 |
| Receivable for fund shares sold | 697,208 |
| Receivable for investments sold | 248,284 |
| Other assets | 39,434 |
| Total assets | 390,254,199 |
| Liabilities | |
| Payable for floating rate interests issued | 5,095,000 |
| Distributions payable | 39,163 |
| Payable for investments purchased | 487,674 |
| Payable for delayed delivery securities purchased | 5,736,622 |
| Payable for fund shares repurchased | 727,230 |
| Payable to affiliates | |
| Investment management fees | 148,089 |
| Accounting and legal services fees | 16,867 |
| Transfer agent fees | 4,712 |
| Distribution and service fees | 28,418 |
| Trustees’ fees | 212 |
| Other liabilities and accrued expenses | 81,672 |
| Total liabilities | 12,365,659 |
| Net assets | $377,888,540 |
| Net assets consist of | |
| Paid-in capital | $384,162,639 |
| Total distributable earnings (loss) | (6,274,099) |
| Net assets | $377,888,540 |
| 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 ($224,938,089 ÷ 22,806,020 shares)1 | $9.86 |
| Class C ($3,886,547 ÷ 394,075 shares)1 | $9.86 |
| Class I ($99,483,193 ÷ 10,080,596 shares) | $9.87 |
| Class R6 ($49,580,711 ÷ 5,021,987 shares) | $9.87 |
| Maximum offering price per share | |
| Class A (net asset value per share ÷ 96%)2 | $10.27 |
| 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 | | JOHN HANCOCK California Municipal Bond Fund | 20 |
STATEMENT OF OPERATIONS For the year ended 5-31-24
| Investment income | |
| Interest | $13,151,106 |
| Dividends from affiliated investments | 527,512 |
| Dividends | 46,794 |
| Total investment income | 13,725,412 |
| Expenses | |
| Investment management fees | 1,630,973 |
| Distribution and service fees | 344,091 |
| Interest expense | 191,867 |
| Accounting and legal services fees | 64,435 |
| Transfer agent fees | 50,897 |
| Trustees’ fees | 7,634 |
| Custodian fees | 60,903 |
| State registration fees | 48,648 |
| Printing and postage | 23,637 |
| Professional fees | 69,103 |
| Other | 25,710 |
| Total expenses | 2,517,898 |
| Less expense reductions | (172,580) |
| Net expenses | 2,345,318 |
| Net investment income | 11,380,094 |
| Realized and unrealized gain (loss) | |
| Net realized gain (loss) on | |
| Unaffiliated investments | (4,726,174) |
| Affiliated investments | (7,941) |
| (4,734,115) | |
| Change in net unrealized appreciation (depreciation) of | |
| Unaffiliated investments | 6,350,003 |
| Affiliated investments | 39 |
| 6,350,042 | |
| Net realized and unrealized gain | 1,615,927 |
| Increase in net assets from operations | $12,996,021 |
| 21 | JOHN HANCOCK California Municipal Bond Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
STATEMENTS OF CHANGES IN NET
ASSETS
| Year ended 5-31-24 | Year ended 5-31-23 | |
| Increase (decrease) in net assets | ||
| From operations | ||
| Net investment income | $11,380,094 | $8,232,542 |
| Net realized loss | (4,734,115) | (1,467,255) |
| Change in net unrealized appreciation (depreciation) | 6,350,042 | (7,307,629) |
| Increase (decrease) in net assets resulting from operations | 12,996,021 | (542,342) |
| Distributions to shareholders | ||
| From earnings | ||
| Class A | (6,919,615) | (6,357,879) |
| Class C | (106,175) | (162,323) |
| Class I | (2,654,619) | (1,708,294) |
| Class R6 | (1,374,654) | (792,549) |
| Total distributions | (11,055,063) | (9,021,045) |
| From fund share transactions | 89,668,546 | 76,174,163 |
| Total increase | 91,609,504 | 66,610,776 |
| Net assets | ||
| Beginning of year | 286,279,036 | 219,668,260 |
| End of year | $377,888,540 | $286,279,036 |
| SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK California Municipal Bond Fund | 22 |
Financial highlights
| CLASS A SHARES Period ended | 5-31-24 | 5-31-23 | 5-31-22 | 5-31-21 | 5-31-20 |
| Per share operating performance | |||||
| Net asset value, beginning of period | $9.73 | $10.14 | $11.06 | $10.66 | $10.94 |
| Net investment income1 | 0.34 | 0.32 | 0.27 | 0.30 | 0.34 |
| Net realized and unrealized gain (loss) on investments | 0.12 | (0.39) | (0.84) | 0.40 | (0.20) |
| Total from investment operations | 0.46 | (0.07) | (0.57) | 0.70 | 0.14 |
| Less distributions | |||||
| From net investment income | (0.33) | (0.31) | (0.28) | (0.30) | (0.34) |
| From net realized gain | — | (0.03) | (0.07) | — | (0.08) |
| Total distributions | (0.33) | (0.34) | (0.35) | (0.30) | (0.42) |
| Net asset value, end of period | $9.86 | $9.73 | $10.14 | $11.06 | $10.66 |
| Total return (%)2,3 | 4.86 | (0.55) | (5.26) | 6.64 | 1.22 |
| Ratios and supplemental data | |||||
| Net assets, end of period (in millions) | $225 | $188 | $181 | $181 | $173 |
| Ratios (as a percentage of average net assets): | |||||
| Expenses before reductions4 | 0.83 | 0.85 | 0.82 | 0.85 | 0.85 |
| Expenses including reductions4 | 0.78 | 0.79 | 0.81 | 0.84 | 0.84 |
| Net investment income | 3.51 | 3.26 | 2.53 | 2.76 | 3.12 |
| Portfolio turnover (%) | 44 | 23 | 17 | 23 | 22 |
| 1 | Based on average daily shares outstanding. |
| 2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
| 3 | Does not reflect the effect of sales charges, if any. |
| 4 | Includes interest expense of 0.06% and 0.04% for the periods ended 5-31-24 and 5-31-23, respectively. |
| 23 | JOHN HANCOCK California Municipal Bond Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
| CLASS C SHARES Period ended | 5-31-24 | 5-31-23 | 5-31-22 | 5-31-21 | 5-31-20 |
| Per share operating performance | |||||
| Net asset value, beginning of period | $9.73 | $10.14 | $11.06 | $10.66 | $10.94 |
| Net investment income1 | 0.27 | 0.24 | 0.19 | 0.22 | 0.26 |
| Net realized and unrealized gain (loss) on investments | 0.12 | (0.38) | (0.84) | 0.40 | (0.20) |
| Total from investment operations | 0.39 | (0.14) | (0.65) | 0.62 | 0.06 |
| Less distributions | |||||
| From net investment income | (0.26) | (0.24) | (0.20) | (0.22) | (0.26) |
| From net realized gain | — | (0.03) | (0.07) | — | (0.08) |
| Total distributions | (0.26) | (0.27) | (0.27) | (0.22) | (0.34) |
| Net asset value, end of period | $9.86 | $9.73 | $10.14 | $11.06 | $10.66 |
| Total return (%)2,3 | 4.07 | (1.29) | (5.97) | 5.85 | 0.47 |
| Ratios and supplemental data | |||||
| Net assets, end of period (in millions) | $4 | $5 | $8 | $11 | $16 |
| Ratios (as a percentage of average net assets): | |||||
| Expenses before reductions4 | 1.68 | 1.71 | 1.67 | 1.70 | 1.70 |
| Expenses including reductions4 | 1.53 | 1.55 | 1.56 | 1.59 | 1.59 |
| Net investment income | 2.76 | 2.51 | 1.78 | 2.02 | 2.37 |
| Portfolio turnover (%) | 44 | 23 | 17 | 23 | 22 |
| 1 | Based on average daily shares outstanding. |
| 2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
| 3 | Does not reflect the effect of sales charges, if any. |
| 4 | Includes interest expense of 0.06% and 0.04% for the periods ended 5-31-24 and 5-31-23, respectively. |
| SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK California Municipal Bond Fund | 24 |
| CLASS I SHARES Period ended | 5-31-24 | 5-31-23 | 5-31-22 | 5-31-21 | 5-31-20 |
| Per share operating performance | |||||
| Net asset value, beginning of period | $9.73 | $10.15 | $11.07 | $10.66 | $10.94 |
| Net investment income1 | 0.36 | 0.33 | 0.29 | 0.32 | 0.35 |
| Net realized and unrealized gain (loss) on investments | 0.13 | (0.39) | (0.84) | 0.41 | (0.20) |
| Total from investment operations | 0.49 | (0.06) | (0.55) | 0.73 | 0.15 |
| Less distributions | |||||
| From net investment income | (0.35) | (0.33) | (0.30) | (0.32) | (0.35) |
| From net realized gain | — | (0.03) | (0.07) | — | (0.08) |
| Total distributions | (0.35) | (0.36) | (0.37) | (0.32) | (0.43) |
| Net asset value, end of period | $9.87 | $9.73 | $10.15 | $11.07 | $10.66 |
| Total return (%)2 | 5.12 | (0.50) | (5.11) | 6.90 | 1.37 |
| Ratios and supplemental data | |||||
| Net assets, end of period (in millions) | $99 | $64 | $19 | $13 | $15 |
| Ratios (as a percentage of average net assets): | |||||
| Expenses before reductions3 | 0.68 | 0.70 | 0.67 | 0.70 | 0.70 |
| Expenses including reductions3 | 0.63 | 0.64 | 0.66 | 0.69 | 0.69 |
| Net investment income | 3.66 | 3.41 | 2.68 | 2.90 | 3.25 |
| Portfolio turnover (%) | 44 | 23 | 17 | 23 | 22 |
| 1 | Based on average daily shares outstanding. |
| 2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
| 3 | Includes interest expense of 0.06% and 0.04% for the periods ended 5-31-24 and 5-31-23, respectively. |
| 25 | JOHN HANCOCK California Municipal Bond Fund | | SEE NOTES TO FINANCIAL STATEMENTS |
| CLASS R6 SHARES Period ended | 5-31-24 | 5-31-23 | 5-31-22 | 5-31-21 | 5-31-20 |
| Per share operating performance | |||||
| Net asset value, beginning of period | $9.74 | $10.15 | $11.07 | $10.66 | $10.94 |
| Net investment income1 | 0.36 | 0.33 | 0.29 | 0.32 | 0.36 |
| Net realized and unrealized gain (loss) on investments | 0.12 | (0.38) | (0.83) | 0.41 | (0.20) |
| Total from investment operations | 0.48 | (0.05) | (0.54) | 0.73 | 0.16 |
| Less distributions | |||||
| From net investment income | (0.35) | (0.33) | (0.31) | (0.32) | (0.36) |
| From net realized gain | — | (0.03) | (0.07) | — | (0.08) |
| Total distributions | (0.35) | (0.36) | (0.38) | (0.32) | (0.44) |
| Net asset value, end of period | $9.87 | $9.74 | $10.15 | $11.07 | $10.66 |
| Total return (%)2 | 5.03 | (0.38) | (5.08) | 6.93 | 1.40 |
| Ratios and supplemental data | |||||
| Net assets, end of period (in millions) | $50 | $30 | $12 | $9 | $7 |
| Ratios (as a percentage of average net assets): | |||||
| Expenses before reductions3 | 0.67 | 0.69 | 0.63 | 0.66 | 0.67 |
| Expenses including reductions3 | 0.62 | 0.63 | 0.63 | 0.65 | 0.66 |
| Net investment income | 3.67 | 3.41 | 2.70 | 2.93 | 3.28 |
| Portfolio turnover (%) | 44 | 23 | 17 | 23 | 22 |
| 1 | Based on average daily shares outstanding. |
| 2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
| 3 | Includes interest expense of 0.06% and 0.04% for the periods ended 5-31-24 and 5-31-23, respectively. |
| SEE NOTES TO FINANCIAL STATEMENTS | | JOHN HANCOCK California Municipal Bond Fund | 26 |
Notes to financial statements
Note 1—Organization
John Hancock California Municipal
Bond Fund (the fund) is a series of John Hancock California Tax-Free Income Fund (the Trust), an open-end management investment company organized as a Massachusetts business trust and registered under the Investment
Company Act of 1940, as amended (the 1940 Act). The investment objective of the fund is to seek a high level of current income, consistent with preservation of capital, that is exempt from federal and California
personal income taxes.
The fund may offer multiple classes
of shares. The shares currently outstanding are detailed in the Statement of assets and liabilities. Class A and Class C shares are offered to all investors. Class I shares are offered to institutions and certain
investors. Class R6 shares are only available to certain retirement plans, institutions and other investors. Class C shares convert to Class A shares eight years after purchase (certain exclusions may apply).
Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, and transfer agent fees for each class may differ.
Note 2—Significant accounting policies
The financial statements have been
prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial
statements. Actual results could differ from those estimates and those differences could be significant. The fund qualifies as an investment company under Topic 946 of Accounting Standards Codification of US GAAP.
Events or transactions occurring
after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting
policies of the fund:
Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other
disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the
NYSE pursuant to the Valuation Policies and Procedures of the Advisor, John Hancock Investment Management LLC.
In order to value the securities,
the fund uses the following valuation techniques: Debt obligations are typically valued based on evaluated prices provided by an independent pricing vendor. Independent pricing vendors utilize matrix pricing, which
takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker
supplied prices. Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades.
In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Investments by the fund in open-end mutual funds, including John
Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day.
In certain instances, the Pricing
Committee of the Advisor may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for
trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.
Other portfolio securities and
assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the Pricing Committee following procedures established by the Advisor and adopted by the
Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready
market for such securities existed.
| 27 | JOHN HANCOCK California Municipal Bond Fund | |
The fund uses a three tier hierarchy
to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities,
including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment
speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities
valued using significant unobservable inputs when market prices are not readily available or reliable, including the Advisor’s assumptions in determining the fair value of investments. Factors used in
determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the
risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.
The following is a summary of the
values by input classification of the fund’s investments as of May 31, 2024, by major security category or type:
| Total value at 5-31-24 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
| Investments in securities: | ||||
| Assets | ||||
| Municipal bonds | $380,786,966 | — | $380,786,966 | — |
| Closed-end funds | 1,158,050 | $1,158,050 | — | — |
| Short-term investments | 3,328,510 | 3,328,510 | — | — |
| Total investments in securities | $385,273,526 | $4,486,560 | $380,786,966 | — |
The fund holds liabilities for which
the fair value approximates the carrying amount for financial statement purposes. As of May 31, 2024, the liability for the fund’s Payable for floating rate interests issued on the Statement of assets and
liabilities is categorized as Level 2 within the disclosure hierarchy.
When-issued/delayed-delivery
securities. The fund may purchase or sell securities on a when-issued or delayed-delivery basis, or in a “To Be Announced” (TBA) or “forward commitment” transaction, with
delivery or payment to occur at a later date beyond the normal settlement period. TBA securities resulting from these transactions are included in the portfolio or in a schedule to the portfolio (Sale Commitments
Outstanding). At the time a fund enters into a commitment to purchase or sell a security, the transaction is recorded and the value of the security is reflected in its NAV. The price of such security and the date that
the security will be delivered and paid for are fixed at the time the transaction is negotiated. The value of the security may vary with market fluctuations. No interest accrues on debt securities until settlement
takes place. At the time that the fund enters into this type of transaction, the fund is required to have sufficient cash and/or liquid securities to cover its commitments.
Certain risks may arise upon
entering into when-issued or delayed-delivery securities transactions, including the potential inability of counterparties to meet the terms of their contracts, and the issuer’s failure to issue the securities
due to political, economic or other factors. Additionally, losses may arise due to changes in the value of the securities purchased or sold prior to settlement date.
Tender option bond transactions.
The fund may use tender option bond transactions to seek to enhance potential gains. In a tender option bond transaction, the fund transfers fixed rate long-term municipal bonds or other
municipal securities into a special purpose entity (TOB trust). A TOB trust typically issues two classes of beneficial interest - 1) floating rate interests (TOB floaters), which are sold to third party
investors, and 2) residual inverse floating rate interests (TOB inverse residuals), which are generally issued to the fund. The fund may invest in TOB inverse residuals and may also invest in TOB floaters. The fund
establishes and is the sponsor of the TOB
| | JOHN HANCOCK California Municipal Bond Fund | 28 |
trust that issues TOB floaters and TOB inverse
residuals. The fund’s participation in tender option bond transactions may increase volatility and/or reduce the fund’s returns. Tender option bond transactions create leverage. Leverage magnifies returns,
both positive and negative, and risk by magnifying the volatility of returns. An investment in a tender option bond transaction typically involves greater risk than investing in the underlying municipal fixed rate
bonds, including the risk of loss of principal. Distributions on TOB inverse residuals will bear an inverse relationship to short-term municipal security interest rates. Distributions on TOB inverse residuals paid to
the fund will be reduced or, in the extreme, eliminated as short-term municipal interest rates rise and will increase when short-term municipal interest rates fall. TOB inverse residuals generally will underperform
the market for fixed rate municipal securities in a rising interest rate environment. The interest payment on TOB inverse residuals generally will decrease when short-term interest rates increase.
Pursuant to generally accepted
accounting principles for transfers and servicing of financial assets and extinguishment of liabilities, the fund accounts for the transaction described above as a secured borrowing by including the bond transferred
to the TOB trust in the Fund’s investments and the TOB floaters as a liability under the caption Payable for floating rate interests issued on the Statement of assets and liabilities. The TOB floaters have
interest rates that generally reset weekly and their holders have the option to tender their notes to the TOB trust for redemption at par at each reset date. Accordingly, the fair value of the payable for floating
rate notes issued approximates its carrying value. The fund recognizes earnings of bonds transferred to the TOB Trust as Interest income. The fund recognizes interest paid to holders of the TOB floaters, and expenses
related to remarketing, administration, trustee, liquidity and other services to the TOB trust, as Interest expense on the Statement of operations.
At May 31, 2024, the amount of the
fund’s TOB floaters and related interest rates and collateral were as follows:
| TOB floaters outstanding | $5,095,000 |
| Interest rate (%) | 3.37% |
| Collateral for TOB floaters outstanding | $7,703,563 |
For the year ended May 31, 2024, the
fund’s average settled TOB Floaters outstanding and the average interest rate, including fees, were as follows:
| Average TOB floaters outstanding | $4,696,708 |
| Average interest rate (%) | 4.09% |
TOB trusts are typically supported
by a liquidity facility provided by a third-party bank or other financial institution (the liquidity provider) that allows the holders of the TOB floaters to tender their certificates in exchange for payment of par
plus accrued interest on any business day, subject to the non-occurrence of tender option termination events. The fund may invest in TOB inverse residuals on a non-recourse or recourse basis. When the fund invests in
a TOB trust on a non-recourse basis, and the liquidity provider is required to make a payment under the liquidity facility, the liquidity provider will typically liquidate all or a portion of the municipal securities
held in the TOB trust and then fund the balance, if any, of the amount owed under the liquidity facility over the liquidation proceeds (the liquidation shortfall). If the fund invests in a TOB trust on a recourse
basis, the fund will typically enter into a reimbursement agreement with the liquidity provider where the fund is required to reimburse the liquidity provider the amount of any liquidation shortfall. As a result, if
the fund invests in a TOB trust on a recourse basis, the fund will bear the risk of loss with respect to any liquidation shortfall. The fund had no shortfalls as of May 31, 2024.
Security transactions and related
investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are
reported on trade date. Interest income is accrued as earned. Interest income includes coupon interest and amortization/accretion of premiums/discounts on debt securities. Debt obligations may be placed in a
non-accrual status and related interest income may be reduced by stopping current accruals and writing off
| 29 | JOHN HANCOCK California Municipal Bond Fund | |
interest receivable when the collection of all or a
portion of interest has become doubtful. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend
income, net of withholding taxes, is recorded when the fund becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities
sold are determined on the basis of identified cost and may include proceeds from litigation.
Overdraft. The fund may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities.
Pursuant to the fund’s custodian agreement, the custodian may loan money to the fund to make properly authorized payments. The fund is obligated to repay the custodian for any overdraft, including any related
costs or expenses. The custodian may have a lien, security interest or security entitlement in any fund property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent
permitted by law.
Line of credit. The fund and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion
unsecured committed line of credit. Excluding commitments designated for a certain fund and subject to the needs of all other affiliated funds, the fund can borrow up to an aggregate commitment amount of $750 million,
subject to asset coverage and other limitations as specified in the agreement. A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of the line of credit, is charged
to each participating fund based on a combination of fixed and asset-based allocations and is reflected in Other expenses on the Statement of operations. For the year ended May 31, 2024, the fund had no borrowings
under the line of credit. Commitment fees for the year ended May 31, 2024 were $4,447.
Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual fund are allocated to such fund. Expenses that are not readily attributable to
a specific fund are allocated among all funds in an equitable manner, taking into consideration, among other things, the nature and type of expense and the fund’s relative net assets. Expense estimates are
accrued in the period to which they relate and adjustments are made when actual amounts are known.
Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the fund level and allocated daily to each class of shares based on the net assets of the class.
Class-specific expenses, such as distribution and service fees, if any, and transfer agent fees, for all classes, are charged daily at the class level based on the net assets of each class and the specific expense
rates applicable to each class.
Federal income taxes. The fund intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income
tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.
For federal income tax purposes, as
of May 31, 2024, the fund has a short-term capital loss carryforward of $183,034 and a long-term capital loss carryforward of $5,064,351 available to offset future net realized capital gains. These carryforwards do
not expire.
As of May 31, 2024, the fund
had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The fund’s federal tax returns are subject to examination by the Internal Revenue Service for a
period of three years.
Distribution of income and
gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The fund generally declares dividends daily and pays them monthly.
Capital gain distributions, if any, are typically distributed annually.
| | JOHN HANCOCK California Municipal Bond Fund | 30 |
The tax character of distributions
for the years ended May 31, 2024 and 2023 was as follows:
| May 31, 2024 | May 31, 2023 | |
| Ordinary income | $159,489 | $153,777 |
| Exempt Income | 10,895,574 | 8,077,742 |
| Long-term capital gains | — | 789,526 |
| Total | $11,055,063 | $9,021,045 |
Distributions paid by the fund with
respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class. As of May 31,
2024, the components of distributable earnings on a tax basis consisted of $372,538 of undistributed exempt interest.
Such distributions and distributable
earnings, on a tax basis, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the fund’s
financial statements as a return of capital.
Capital accounts within the
financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent
period. Book-tax differences are primarily attributable to accretion on debt securities.
Note 3—Guarantees and indemnifications
Under the Trust’s
organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the fund. Additionally, in the normal course of
business, the fund enters into contracts with service providers that contain general indemnification clauses. The fund’s maximum exposure under these arrangements is unknown, as this would involve future claims
that may be made against the fund that have not yet occurred. The risk of material loss from such claims is considered remote.
Note 4—Fees and transactions with affiliates
John Hancock Investment Management
LLC (the Advisor) serves as investment advisor for the fund. John Hancock Investment Management Distributors LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the fund. The Advisor
and the Distributor are indirect, principally owned subsidiaries of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation.
Management fee. The fund has an investment management agreement with the Advisor under which the fund pays a monthly management fee to the Advisor, equivalent on an annual basis, to the sum of:
(a) 0.510% of the first $500 million of the fund’s average daily net assets, (b) 0.460% of the next $500 million of the fund’s average daily net assets, (c) 0.435% of the next $1 billion of the
fund’s average daily net assets; and (d) 0.410% of the fund’s average daily net assets in excess of $2 billion. The Advisor has a subadvisory agreement with Manulife Investment Management (US) LLC, an
indirectly owned subsidiary of Manulife Financial Corporation and an affiliate of the Advisor. The fund is not responsible for payment of the subadvisory fees.
The Advisor contractually agreed to
reduce its management fee or, if necessary, make payment to the fund, in an amount equal to the amount by which the expenses of the fund exceed 0.55% of average daily net assets attributable to the fund, excluding
taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the fund’s business, class-specific expenses,
borrowing costs, prime brokerage fees, acquired fund fees and expenses paid indirectly, and short dividend expense. This agreement expires on September 30, 2024, unless renewed by mutual agreement of the fund and the
Advisor based upon a determination that this is appropriate under the circumstances at that time.
The Advisor has contractually agreed
to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock group of funds complex, including the fund (the participating portfolios). This waiver is based upon aggregate
net assets of all the participating portfolios. The amount of the reimbursement is
| 31 | JOHN HANCOCK California Municipal Bond Fund | |
calculated daily and allocated among all the
participating portfolios in proportion to the daily net assets of each fund. During the year ended May 31, 2024, this waiver amounted to 0.01% of the fund’s average daily net assets. This agreement expires on
July 31, 2025, unless renewed by mutual agreement of the fund and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
For the year ended May 31, 2024, the
expense reductions described above amounted to the following:
Expenses waived or
reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.
The investment management
fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended May 31, 2024, were equivalent to a net annual effective rate of 0.46% of the fund’s average daily net
assets.
Accounting and legal
services. Pursuant to the Accounting and Legal Services Agreement, the fund reimburses the Advisor for all expenses associated with providing the administrative, financial, legal, compliance,
accounting and recordkeeping services to the fund, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each
share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred, for the year ended May 31, 2024, amounted to an annual rate of 0.02% of the
fund’s average daily net assets.
Distribution and service
plans. The fund has a distribution agreement with the Distributor. The fund has adopted distribution and service plans for certain classes as detailed below pursuant to Rule 12b-1 under the 1940
Act, to pay the Distributor for services provided as the distributor of shares of the fund. The fund may pay up to the following contractual rates of distribution and service fees under these arrangements, expressed
as an annual percentage of average daily net assets for each class of the fund’s shares:
| Class | Rule 12b-1 Fee |
| Class A | 0.15% |
| Class C | 1.00% |
The fund’s Distributor has
contractually agreed to waive 0.10% of Rule12b-1 fees for Class C shares. The current waiver agreement expires on September 30, 2024, unless renewed by mutual agreement of the fund and the Distributor based upon a
determination that this is appropriate under the circumstances at the time. This contractual waiver amounted to $3,996 for Class C shares for the year ended May 31, 2024.
Sales charges. Class A shares are assessed up-front sales charges, which resulted in payments to the Distributor amounting to $92,255 for the year ended May 31, 2024. Of this amount, $12,512 was retained
and used for printing prospectuses, advertising, sales literature and other purposes and $79,743 was paid as sales commissions to broker-dealers.
Class A and Class C shares may be
subject to contingent deferred sales charges (CDSCs). Certain Class A shares purchased, including those that are acquired through purchases of $250,000 or more, and redeemed within 18 months of purchase are subject to
a 1.00% sales charge. Class C shares that are redeemed within one year of purchase are subject to a 1.00% CDSC. CDSCs are applied to the lesser of the current market value at the time of redemption or the original
purchase cost of the shares being redeemed. Proceeds from CDSCs are used to compensate the Distributor for providing distribution-related services in connection with the sale of these shares. During the year ended May
31, 2024, CDSCs received by the Distributor amounted to $15,406 and $2,913 for Class A and Class C shares, respectively.
| | JOHN HANCOCK California Municipal Bond Fund | 32 |
Transfer agent fees. The John Hancock group of funds has a complex-wide transfer agent agreement with John Hancock Signature Services, Inc. (Signature Services), an affiliate of the Advisor. The transfer agent
fees paid to Signature Services are determined based on the cost to Signature Services (Signature Services Cost) of providing recordkeeping services. It also includes out-of-pocket expenses, including payments made to
third-parties for recordkeeping services provided to their clients who invest in one or more John Hancock funds. In addition, Signature Services Cost may be reduced by certain fees that Signature Services receives in
connection with retirement and small accounts. Signature Services Cost is calculated monthly and allocated, as applicable, to five categories of share classes: Retail Share and Institutional Share Classes of
Non-Municipal Bond Funds, Class R6 Shares, Retirement Share Classes and Municipal Bond Share Classes. Within each of these categories, the applicable costs are allocated to the affected John Hancock affiliated funds
and/or classes, based on the relative average daily net assets.
Class level expenses. Class level expenses for the year ended May 31, 2024 were as follows:
| Class | Distribution and service fees | Transfer agent fees |
| Class A | $304,132 | $35,415 |
| Class C | 39,959 | 696 |
| Class I | — | 13,010 |
| Class R6 | — | 1,776 |
| Total | $344,091 | $50,897 |
Trustee expenses. The fund compensates each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to the fund based on its net
assets relative to other funds within the John Hancock group of funds complex.
Note 5—Fund share transactions
Transactions in fund shares for the
years ended May 31, 2024 and 2023 were as follows:
| Year Ended 5-31-24 | Year Ended 5-31-23 | |||
| Shares | Amount | Shares | Amount | |
| Class A shares | ||||
| Sold | 7,071,539 | $69,444,023 | 5,346,401 | $52,160,877 |
| Distributions reinvested | 659,203 | 6,447,436 | 596,376 | 5,808,527 |
| Repurchased | (4,245,390) | (40,711,927) | (4,447,616) | (43,216,692) |
| Net increase | 3,485,352 | $35,179,532 | 1,495,161 | $14,752,712 |
| Class C shares | ||||
| Sold | 108,159 | $1,065,374 | 90,279 | $886,250 |
| Distributions reinvested | 9,676 | 94,596 | 14,246 | 138,718 |
| Repurchased | (205,130) | (2,005,565) | (372,372) | (3,634,831) |
| Net decrease | (87,295) | $(845,595) | (267,847) | $(2,609,863) |
| 33 | JOHN HANCOCK California Municipal Bond Fund | |
| Year Ended 5-31-24 | Year Ended 5-31-23 | |||
| Shares | Amount | Shares | Amount | |
| Class I shares | ||||
| Sold | 7,041,273 | $69,464,336 | 6,480,980 | $63,457,049 |
| Distributions reinvested | 270,049 | 2,642,512 | 173,875 | 1,693,883 |
| Repurchased | (3,766,362) | (35,954,443) | (1,970,598) | (19,157,990) |
| Net increase | 3,544,960 | $36,152,405 | 4,684,257 | $45,992,942 |
| Class R6 shares | ||||
| Sold | 2,969,223 | $29,049,171 | 2,712,508 | $26,429,221 |
| Distributions reinvested | 140,256 | 1,374,565 | 81,253 | 792,535 |
| Repurchased | (1,167,899) | (11,241,532) | (943,750) | (9,183,384) |
| Net increase | 1,941,580 | $19,182,204 | 1,850,011 | $18,038,372 |
| Total net increase | 8,884,597 | $89,668,546 | 7,761,582 | $76,174,163 |
Note 6—Purchase and sale of securities
Purchases and sales of securities,
other than short-term investments, amounted to $237,207,992 and $137,425,830, respectively, for the year ended May 31, 2024.
Note 7—State or region risk
To the extent that the fund invests
heavily in bonds from any given state or region, its performance could be disproportionately affected by factors particular to that state or region. These factors may include economic or political changes, tax-base
erosion, possible state constitutional limits on tax increases, detrimental budget deficits and other financial difficulties, and changes to the credit ratings assigned to those states’ municipal issuers.
Note 8—Investment in affiliated underlying funds
The fund may invest in affiliated
underlying funds that are managed by the Advisor and its affiliates. Information regarding the fund’s fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital
gains earned by the fund, if any, is as follows:
| 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 | 332,961 | $3,774,313 | $122,362,012 | $(122,799,913) | $(7,941) | $39 | $527,512 | — | $3,328,510 |
| | JOHN HANCOCK California Municipal Bond Fund | 34 |
Report of Independent Registered
Public Accounting Firm
To the Board of Trustees of John
Hancock California Tax-Free Income Fund and Shareholders of John Hancock California Municipal Bond Fund
Opinion on the Financial Statements
We have audited the accompanying
statement of assets and liabilities, including the Fund’s investments, of John Hancock California Municipal Bond Fund (the "Fund") as of May 31, 2024, the related statement of operations for the year ended May
31, 2024, the statements of changes in net assets for each of the two years in the period ended May 31, 2024, including the related notes, and the financial highlights for each of the five years in the period ended
May 31, 2024 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of May 31,
2024, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended May 31, 2024 and the financial highlights for each of the five years in the
period ended May 31, 2024 in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the
responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial statements based on our audits. We are a public accounting firm registered with the Public
Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of
the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these
financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material
misstatement, whether due to error or fraud.
Our audits included performing
procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test
basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating
the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of May 31, 2024 by correspondence with the custodian, transfer agent and brokers; when replies were not
received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.
PricewaterhouseCoopers LLP
Boston, Massachusetts
July 18, 2024
We have served as the auditor of one
or more investment companies in the John Hancock group of funds since 1988.
| 35 | JOHN HANCOCK CALIFORNIA MUNICIPAL BOND FUND | |
Tax information
(Unaudited)
For federal income tax purposes, the
following information is furnished with respect to the distributions of the fund, if any, paid during its taxable year ended May 31, 2024.
98.74% of dividends from net
investment income are exempt-interest dividends.
The fund reports the maximum amount
allowable as Section 163(j) Interest Dividends.
The fund reports the maximum amount
allowable of its Section 199A dividends as defined in Proposed Treasury Regulation §1.199A-3(d).
Eligible shareholders will be mailed
a 2024 Form 1099-DIV in early 2025. This will reflect the tax character of all distributions paid in calendar year 2024.
Please consult a tax advisor regarding
the tax consequences of your investment in the fund.
| | JOHN HANCOCK CALIFORNIA MUNICIPAL BOND FUND | 36 |
John Hancock Investment Management
Distributors LLC, Member FINRA, SIPC
200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com
200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com
Manulife Investment Management, the
Stylized M Design, and Manulife Investment Management & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO
BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.
This report is for the information
of the shareholders of John Hancock California Municipal Bond Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
| MF3619752 | 53A 5/24 |
7/24
ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 9. PROXY DISCLOSURE FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.
Information included in Item 7, if applicable.
ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.
Refer to information included in Item 7.
ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.
Information included in Item 7, if applicable.
ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATE PURCHASERS.
Not applicable.
ITEM 15. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
The registrant has adopted procedures by which shareholders may recommend nominees to the registrant's Board of Trustees. A copy of the procedures is filed as an exhibit to this Form N-CSR. See attached "John Hancock Funds – Nominating, Governance and Administration Committee Charter".
ITEM 16. CONTROLS AND PROCEDURES.
(a) Based upon their evaluation of the registrant's disclosure controls and procedures as conducted within 90 days of the filing date of this Form N-CSR, the registrant's principal executive officer and principal financial officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.
(b) There were no changes in the registrant's internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
ITEM 17. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.
Not applicable.
ITEM 19. EXHIBITS.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
John Hancock California Tax-Free Income Fund
| By: | /s/ Kristie M. Feinberg |
| ------------------------------ | |
| Kristie M. Feinberg | |
| President | |
| Date: | July 18, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| By: | /s/ Kristie M. Feinberg |
| ------------------------------ | |
| Kristie M. Feinberg | |
| President | |
| Date: | July 18, 2024 |
| By: | /s/ Fernando A. Silva |
| --------------------------- | |
| Fernando A. Silva | |
| Chief Financial Officer | |
| Date: | July 18, 2024 |
