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 811-21777
John Hancock Funds III
(Exact name of registrant as specified in charter)
200 Berkeley Street, Boston, Massachusetts 02116 (Address of principal executive offices) (Zip code)
Salvatore Schiavone
Treasurer
200 Berkeley Street
Boston, Massachusetts 02116
(Name and address of agent for service) Registrant's telephone number, including area code: 617-663-4497
Date of fiscal year end: | March 31 |
Date of reporting period: | March 31, 2021 |
ITEM 1. REPORTS TO STOCKHOLDERS
The Registrant prepared 5 annual reports to shareholders for the period ended March 31, 2021. The first report applies to Disciplined Value Fund, the second report applies to Disciplined Value Mid Cap Fund, the third report applies to Global Shareholder Yield Fund, the fourth report applies to International Growth Fund, and the fifth report applies to U.S. Growth Fund (formerly, U.S. Quality Growth Fund) of the Registrant.
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 1 |
2 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 3 |
TOP 10 HOLDINGS AS OF 3/31/2021 (% of net assets) | |
JPMorgan Chase & Co. | 3.4 |
Johnson & Johnson | 3.2 |
Bank of America Corp. | 3.0 |
Cisco Systems, Inc. | 2.7 |
Berkshire Hathaway, Inc., Class B | 2.7 |
Cigna Corp. | 2.1 |
AutoZone, Inc. | 2.0 |
ConocoPhillips | 2.0 |
Deere & Company | 2.0 |
Truist Financial Corp. | 1.9 |
TOTAL | 25.0 |
Cash and cash equivalents are not included. |
COUNTRY COMPOSITION AS OF 3/31/2021 (% of net assets) | |
United States | 89.5 |
Switzerland | 2.9 |
Ireland | 2.5 |
Netherlands | 1.4 |
United Kingdom | 1.4 |
Canada | 1.2 |
Bermuda | 1.1 |
TOTAL | 100.0 |
4 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 5 |
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | ||||
1-year | 5-year | 10-year | 5-year | 10-year | |
Class A | 56.92 | 10.65 | 10.14 | 65.90 | 162.63 |
Class C | 62.90 | 10.96 | 9.87 | 68.24 | 156.34 |
Class I1 | 65.58 | 12.07 | 11.01 | 76.80 | 184.08 |
Class R21,2 | 64.94 | 11.64 | 10.56 | 73.38 | 172.79 |
Class R41 | 65.34 | 11.92 | 10.81 | 75.59 | 179.07 |
Class R51 | 65.67 | 12.13 | 11.06 | 77.29 | 185.58 |
Class R61,2 | 65.74 | 12.21 | 11.10 | 77.86 | 186.57 |
Class NAV1 | 65.71 | 12.21 | 11.14 | 77.89 | 187.55 |
Index 1† | 56.09 | 11.74 | 10.99 | 74.21 | 183.72 |
Index 2† | 56.35 | 16.29 | 13.91 | 112.71 | 267.88 |
Class A | Class C | Class I | Class R2 | Class R4 | Class R5 | Class R6 | Class NAV | |
Gross (%) | 1.07 | 1.82 | 0.82 | 1.21 | 1.06 | 0.76 | 0.71 | 0.70 |
Net (%) | 1.06 | 1.81 | 0.81 | 1.20 | 0.95 | 0.75 | 0.70 | 0.69 |
6 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
Start date | With maximum sales charge ($) | Without sales charge ($) | Index 1 ($) | Index 2 ($) | |
Class C3 | 3-31-11 | 25,634 | 25,634 | 28,372 | 36,788 |
Class I1 | 3-31-11 | 28,408 | 28,408 | 28,372 | 36,788 |
Class R21,2 | 3-31-11 | 27,279 | 27,279 | 28,372 | 36,788 |
Class R41 | 3-31-11 | 27,907 | 27,907 | 28,372 | 36,788 |
Class R51 | 3-31-11 | 28,558 | 28,558 | 28,372 | 36,788 |
Class R61,2 | 3-31-11 | 28,657 | 28,657 | 28,372 | 36,788 |
Class NAV1 | 3-31-11 | 28,755 | 28,755 | 28,372 | 36,788 |
1 | For certain types of investors, as described in the fund's prospectuses. |
2 | Class R6 and Class R2 shares were first offered on 9-1-11 and 3-1-12, respectively. Returns shown prior to Class R2 and Class R6 shares’ commencement dates are those of Class A shares that have not been adjusted for class-specific expenses; otherwise, returns would vary. |
3 | The contingent deferred sales charge is not applicable. |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 7 |
8 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
Account value on 10-1-2020 | Ending value on 3-31-2021 | Expenses paid during period ended 3-31-20211 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,365.60 | $6.25 | 1.06% |
Hypothetical example | 1,000.00 | 1,019.60 | 5.34 | 1.06% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,360.50 | 10.65 | 1.81% |
Hypothetical example | 1,000.00 | 1,015.90 | 9.10 | 1.81% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,367.20 | 4.78 | 0.81% |
Hypothetical example | 1,000.00 | 1,020.90 | 4.08 | 0.81% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 1,364.80 | 7.13 | 1.21% |
Hypothetical example | 1,000.00 | 1,018.90 | 6.09 | 1.21% | |
Class R4 | Actual expenses/actual returns | 1,000.00 | 1,366.20 | 5.60 | 0.95% |
Hypothetical example | 1,000.00 | 1,020.20 | 4.78 | 0.95% | |
Class R5 | Actual expenses/actual returns | 1,000.00 | 1,367.70 | 4.43 | 0.75% |
Hypothetical example | 1,000.00 | 1,021.20 | 3.78 | 0.75% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,368.30 | 4.13 | 0.70% |
Hypothetical example | 1,000.00 | 1,021.40 | 3.53 | 0.70% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 1,368.20 | 4.07 | 0.69% |
Hypothetical example | 1,000.00 | 1,021.50 | 3.48 | 0.69% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/365 (to reflect the one-half year period). |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 9 |
Shares | Value | ||||
Common stocks 98.5% | $12,093,677,966 | ||||
(Cost $8,215,492,813) | |||||
Communication services 5.1% | 630,598,149 | ||||
Interactive media and services 2.7% | |||||
Alphabet, Inc., Class A (A) | 112,480 | 231,992,250 | |||
Facebook, Inc., Class A (A) | 318,432 | 93,787,777 | |||
Media 0.8% | |||||
Charter Communications, Inc., Class A (A) | 168,927 | 104,231,338 | |||
Wireless telecommunication services 1.6% | |||||
T-Mobile US, Inc. (A) | 1,600,980 | 200,586,784 | |||
Consumer discretionary 10.5% | 1,293,324,605 | ||||
Auto components 0.4% | |||||
Lear Corp. | 261,221 | 47,346,306 | |||
Automobiles 0.6% | |||||
Harley-Davidson, Inc. | 1,929,115 | 77,357,512 | |||
Distributors 0.7% | |||||
LKQ Corp. (A) | 2,077,442 | 87,938,120 | |||
Hotels, restaurants and leisure 1.1% | |||||
Las Vegas Sands Corp. (A) | 1,405,280 | 85,384,813 | |||
Wyndham Hotels & Resorts, Inc. | 627,248 | 43,769,365 | |||
Household durables 1.9% | |||||
Lennar Corp., A Shares | 1,061,795 | 107,485,508 | |||
Mohawk Industries, Inc. (A) | 656,428 | 126,237,669 | |||
Multiline retail 0.6% | |||||
Kohl's Corp. | 1,210,111 | 72,134,717 | |||
Specialty retail 4.1% | |||||
AutoZone, Inc. (A) | 176,843 | 248,340,625 | |||
Best Buy Company, Inc. | 546,083 | 62,695,789 | |||
Lowe's Companies, Inc. | 393,925 | 74,916,657 | |||
The TJX Companies, Inc. | 1,160,631 | 76,775,741 | |||
Williams-Sonoma, Inc. | 254,822 | 45,664,102 | |||
Textiles, apparel and luxury goods 1.1% | |||||
Tapestry, Inc. (A) | 3,331,174 | 137,277,681 | |||
Consumer staples 1.7% | 203,766,197 | ||||
Beverages 1.0% | |||||
Coca-Cola European Partners PLC | 2,192,625 | 114,367,320 | |||
Food and staples retailing 0.7% | |||||
The Kroger Company | 1,417,632 | 51,020,576 | |||
U.S. Foods Holding Corp. (A) | 1,006,776 | 38,378,301 |
10 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Energy 7.5% | $915,299,847 | ||||
Energy equipment and services 0.9% | |||||
Schlumberger NV | 4,053,121 | 110,204,360 | |||
Oil, gas and consumable fuels 6.6% | |||||
BP PLC, ADR | 2,069,275 | 50,386,846 | |||
Canadian Natural Resources, Ltd. | 3,161,503 | 97,595,598 | |||
ConocoPhillips | 4,559,731 | 241,528,951 | |||
EOG Resources, Inc. | 524,173 | 38,018,268 | |||
HollyFrontier Corp. | 1,847,247 | 66,094,498 | |||
Marathon Petroleum Corp. | 3,215,962 | 172,021,807 | |||
Pioneer Natural Resources Company | 878,035 | 139,449,519 | |||
Financials 22.5% | 2,764,006,126 | ||||
Banks 11.1% | |||||
Bank of America Corp. | 9,350,912 | 361,786,785 | |||
Citigroup, Inc. | 2,815,928 | 204,858,762 | |||
Fifth Third Bancorp | 2,375,937 | 88,978,841 | |||
Huntington Bancshares, Inc. | 2,932,551 | 46,099,702 | |||
JPMorgan Chase & Co. | 2,769,293 | 421,569,471 | |||
Truist Financial Corp. | 4,041,114 | 235,677,768 | |||
Capital markets 2.3% | |||||
The Charles Schwab Corp. | 2,104,640 | 137,180,435 | |||
The Goldman Sachs Group, Inc. | 463,260 | 151,486,020 | |||
Consumer finance 1.0% | |||||
Capital One Financial Corp. | 985,373 | 125,369,007 | |||
Diversified financial services 2.7% | |||||
Berkshire Hathaway, Inc., Class B (A) | 1,301,906 | 332,597,926 | |||
Insurance 5.4% | |||||
Aflac, Inc. | 1,348,141 | 68,997,856 | |||
American International Group, Inc. | 2,446,728 | 113,063,301 | |||
Chubb, Ltd. | 1,241,835 | 196,172,675 | |||
Everest Re Group, Ltd. | 437,009 | 108,295,200 | |||
RenaissanceRe Holdings, Ltd. | 126,401 | 20,255,760 | |||
The Progressive Corp. | 1,585,782 | 151,616,617 | |||
Health care 16.9% | 2,075,056,731 | ||||
Biotechnology 1.1% | |||||
AbbVie, Inc. | 761,159 | 82,372,627 | |||
Amgen, Inc. | 225,792 | 56,179,308 | |||
Health care equipment and supplies 1.3% | |||||
Medtronic PLC | 1,338,880 | 158,161,894 | |||
Health care providers and services 8.1% | |||||
AmerisourceBergen Corp. | 1,085,204 | 128,130,036 | |||
Anthem, Inc. | 643,626 | 231,029,553 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 11 |
Shares | Value | ||||
Health care (continued) | |||||
Health care providers and services (continued) | |||||
Cigna Corp. | 1,060,502 | $256,365,753 | |||
CVS Health Corp. | 1,102,652 | 82,952,510 | |||
McKesson Corp. | 737,410 | 143,824,446 | |||
UnitedHealth Group, Inc. | 415,405 | 154,559,738 | |||
Life sciences tools and services 0.8% | |||||
Avantor, Inc. (A) | 3,155,850 | 91,298,741 | |||
Pharmaceuticals 5.6% | |||||
Johnson & Johnson | 2,378,671 | 390,934,579 | |||
Novartis AG, ADR | 1,856,439 | 158,688,406 | |||
Pfizer, Inc. | 3,879,634 | 140,559,140 | |||
Industrials 14.0% | 1,716,429,099 | ||||
Aerospace and defense 3.7% | |||||
General Dynamics Corp. | 785,629 | 142,638,801 | |||
Howmet Aerospace, Inc. (A) | 3,408,537 | 109,516,294 | |||
Northrop Grumman Corp. | 156,246 | 50,567,455 | |||
The Boeing Company (A) | 611,562 | 155,777,073 | |||
Building products 1.0% | |||||
Allegion PLC | 315,359 | 39,615,398 | |||
Owens Corning | 925,520 | 85,231,137 | |||
Electrical equipment 1.8% | |||||
Eaton Corp. PLC | 1,253,910 | 173,390,675 | |||
Vertiv Holdings Company | 2,057,588 | 41,151,760 | |||
Machinery 5.3% | |||||
Allison Transmission Holdings, Inc. | 1,015,122 | 41,447,431 | |||
Caterpillar, Inc. | 791,579 | 183,543,423 | |||
Deere & Company | 639,484 | 239,256,544 | |||
Dover Corp. | 589,252 | 80,804,127 | |||
Otis Worldwide Corp. | 1,491,061 | 102,063,125 | |||
Road and rail 0.7% | |||||
Union Pacific Corp. | 377,440 | 83,191,550 | |||
Trading companies and distributors 1.5% | |||||
AerCap Holdings NV (A) | 731,614 | 42,975,006 | |||
United Rentals, Inc. (A) | 441,102 | 145,259,300 | |||
Information technology 13.7% | 1,684,866,610 | ||||
Communications equipment 2.7% | |||||
Cisco Systems, Inc. | 6,511,596 | 336,714,629 | |||
IT services 1.0% | |||||
Fidelity National Information Services, Inc. | 870,802 | 122,443,469 | |||
Semiconductors and semiconductor equipment 7.8% | |||||
Applied Materials, Inc. | 1,725,825 | 230,570,220 |
12 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Information technology (continued) | |||||
Semiconductors and semiconductor equipment (continued) | |||||
KLA Corp. | 353,777 | $116,887,921 | |||
Lam Research Corp. | 242,804 | 144,526,653 | |||
Micron Technology, Inc. (A) | 2,347,123 | 207,039,720 | |||
NXP Semiconductors NV | 869,179 | 175,000,500 | |||
Qorvo, Inc. (A) | 474,499 | 86,690,967 | |||
Software 1.8% | |||||
Oracle Corp. | 1,861,402 | 130,614,578 | |||
SS&C Technologies Holdings, Inc. | 1,261,965 | 88,173,495 | |||
Technology hardware, storage and peripherals 0.4% | |||||
NetApp, Inc. | 635,812 | 46,204,458 | |||
Materials 4.9% | 605,524,725 | ||||
Chemicals 2.6% | |||||
DuPont de Nemours, Inc. | 2,689,072 | 207,811,484 | |||
FMC Corp. | 566,315 | 62,640,102 | |||
PPG Industries, Inc. | 348,837 | 52,416,248 | |||
Construction materials 0.6% | |||||
CRH PLC, ADR | 1,499,813 | 70,461,215 | |||
Containers and packaging 0.3% | |||||
Westrock Company | 625,828 | 32,574,347 | |||
Metals and mining 1.4% | |||||
Kinross Gold Corp. | 8,226,349 | 54,869,748 | |||
Newmont Corp. | 961,376 | 57,942,132 | |||
Steel Dynamics, Inc. | 1,316,183 | 66,809,449 | |||
Utilities 1.7% | 204,805,877 | ||||
Multi-utilities 1.7% | |||||
CenterPoint Energy, Inc. | 4,344,336 | 98,399,210 | |||
Dominion Energy, Inc. | 1,400,825 | 106,406,667 | |||
Yield (%) | Shares | Value | |||
Short-term investments 1.4% | $168,017,874 | ||||
(Cost $168,017,874) | |||||
Short-term funds 1.4% | 168,017,874 | ||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 0.0359(B) | 168,017,874 | 168,017,874 |
Total investments (Cost $8,383,510,687) 99.9% | $12,261,695,840 | ||||
Other assets and liabilities, net 0.1% | 15,609,599 | ||||
Total net assets 100.0% | $12,277,305,439 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 13 |
Security Abbreviations and Legend | |
ADR | American Depositary Receipt |
(A) | Non-income producing security. |
(B) | The rate shown is the annualized seven-day yield as of 3-31-21. |
14 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Assets | |
Unaffiliated investments, at value (Cost $8,383,510,687) | $12,261,695,840 |
Dividends and interest receivable | 11,595,494 |
Receivable for fund shares sold | 18,781,955 |
Receivable for investments sold | 13,081,287 |
Receivable for securities lending income | 2,956 |
Other assets | 364,719 |
Total assets | 12,305,522,251 |
Liabilities | |
Payable for investments purchased | 4,539 |
Payable for fund shares repurchased | 25,856,337 |
Payable to affiliates | |
Accounting and legal services fees | 508,035 |
Transfer agent fees | 649,886 |
Distribution and service fees | 37,695 |
Trustees' fees | 4,062 |
Other liabilities and accrued expenses | 1,156,258 |
Total liabilities | 28,216,812 |
Net assets | $12,277,305,439 |
Net assets consist of | |
Paid-in capital | $7,835,964,760 |
Total distributable earnings (loss) | 4,441,340,679 |
Net assets | $12,277,305,439 |
Net asset value per share | |
Based on net asset value and shares outstanding - the fund has an unlimited number of shares authorized with no par value | |
Class A ($1,037,395,793 ÷ 41,949,513 shares)1 | $24.73 |
Class C ($134,727,994 ÷ 5,845,876 shares)1 | $23.05 |
Class I ($5,617,934,772 ÷ 235,433,581 shares) | $23.86 |
Class R2 ($55,135,642 ÷ 2,313,760 shares) | $23.83 |
Class R4 ($61,727,018 ÷ 2,585,692 shares) | $23.87 |
Class R5 ($40,105,934 ÷ 1,677,034 shares) | $23.91 |
Class R6 ($3,844,165,425 ÷ 160,779,459 shares) | $23.91 |
Class NAV ($1,486,112,861 ÷ 62,128,643 shares) | $23.92 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $26.03 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 15 |
Investment income | |
Dividends | $240,827,542 |
Securities lending | 1,373,142 |
Interest | 145,008 |
Less foreign taxes withheld | (2,255,304) |
Total investment income | 240,090,388 |
Expenses | |
Investment management fees | 79,338,621 |
Distribution and service fees | 4,132,669 |
Accounting and legal services fees | 1,890,535 |
Transfer agent fees | 8,793,890 |
Trustees' fees | 208,678 |
Custodian fees | 1,312,870 |
State registration fees | 289,738 |
Printing and postage | 573,280 |
Professional fees | 325,767 |
Other | 354,673 |
Total expenses | 97,220,721 |
Less expense reductions | (968,670) |
Net expenses | 96,252,051 |
Net investment income | 143,838,337 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | 841,300,475 |
Affiliated investments | (4,505) |
841,295,970 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | 5,008,522,475 |
Affiliated investments | (2,935) |
5,008,519,540 | |
Net realized and unrealized gain | 5,849,815,510 |
Increase in net assets from operations | $5,993,653,847 |
16 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Year ended 3-31-21 | Year ended 3-31-20 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $143,838,337 | $248,099,684 |
Net realized gain (loss) | 841,295,970 | (42,322,615) |
Change in net unrealized appreciation (depreciation) | 5,008,519,540 | (2,856,600,816) |
Increase (decrease) in net assets resulting from operations | 5,993,653,847 | (2,650,823,747) |
Distributions to shareholders | ||
From earnings | ||
Class A | (11,834,034) | (56,946,059) |
Class B1 | — | (182,380) |
Class C | (970,155) | (10,620,453) |
Class I | (98,239,369) | (435,736,847) |
Class I21 | — | (2,535,381) |
Class R11 | — | (827,170) |
Class R2 | (708,389) | (4,693,632) |
Class R31 | — | (726,592) |
Class R4 | (1,066,824) | (6,169,593) |
Class R5 | (700,529) | (8,353,442) |
Class R6 | (62,585,555) | (268,564,030) |
Class NAV | (21,522,877) | (64,632,066) |
Total distributions | (197,627,732) | (859,987,645) |
From fund share transactions | (4,125,193,544) | (791,429,067) |
Total increase (decrease) | 1,670,832,571 | (4,302,240,459) |
Net assets | ||
Beginning of year | 10,606,472,868 | 14,908,713,327 |
End of year | $12,277,305,439 | $10,606,472,868 |
1 | Share class was redesignated during the year. Refer to Note 5 for further details. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 17 |
CLASS A SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 | 3-31-17 |
Per share operating performance | |||||
Net asset value, beginning of period | $15.18 | $20.25 | $22.11 | $20.71 | $17.64 |
Net investment income1 | 0.18 | 0.30 | 0.26 | 0.20 | 0.18 |
Net realized and unrealized gain (loss) on investments | 9.65 | (4.20) | (0.28) | 2.39 | 3.08 |
Total from investment operations | 9.83 | (3.90) | (0.02) | 2.59 | 3.26 |
Less distributions | |||||
From net investment income | (0.28) | (0.25) | (0.23) | (0.18) | (0.19) |
From net realized gain | — | (0.92) | (1.61) | (1.01) | — |
Total distributions | (0.28) | (1.17) | (1.84) | (1.19) | (0.19) |
Net asset value, end of period | $24.73 | $15.18 | $20.25 | $22.11 | $20.71 |
Total return (%)2,3 | 65.19 | (20.99) | 0.45 | 12.42 | 18.50 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1,037 | $731 | $1,092 | $1,289 | $1,449 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.07 | 1.07 | 1.06 | 1.06 | 1.07 |
Expenses including reductions | 1.07 | 1.06 | 1.05 | 1.05 | 1.06 |
Net investment income | 0.94 | 1.44 | 1.18 | 0.92 | 0.96 |
Portfolio turnover (%) | 55 | 88 | 69 | 45 | 65 |
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. |
18 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS C SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 | 3-31-17 |
Per share operating performance | |||||
Net asset value, beginning of period | $14.17 | $18.98 | $20.82 | $19.57 | $16.69 |
Net investment income1 | 0.03 | 0.13 | 0.09 | 0.03 | 0.03 |
Net realized and unrealized gain (loss) on investments | 9.00 | (3.92) | (0.26) | 2.25 | 2.91 |
Total from investment operations | 9.03 | (3.79) | (0.17) | 2.28 | 2.94 |
Less distributions | |||||
From net investment income | (0.15) | (0.10) | (0.06) | (0.02) | (0.06) |
From net realized gain | — | (0.92) | (1.61) | (1.01) | — |
Total distributions | (0.15) | (1.02) | (1.67) | (1.03) | (0.06) |
Net asset value, end of period | $23.05 | $14.17 | $18.98 | $20.82 | $19.57 |
Total return (%)2,3 | 63.90 | (21.51) | (0.35) | 11.58 | 17.61 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $135 | $140 | $235 | $275 | $293 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.82 | 1.82 | 1.81 | 1.81 | 1.82 |
Expenses including reductions | 1.82 | 1.81 | 1.80 | 1.80 | 1.81 |
Net investment income | 0.19 | 0.67 | 0.43 | 0.16 | 0.18 |
Portfolio turnover (%) | 55 | 88 | 69 | 45 | 65 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
3 | Does not reflect the effect of sales charges, if any. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 19 |
CLASS I SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 | 3-31-17 |
Per share operating performance | |||||
Net asset value, beginning of period | $14.65 | $19.58 | $21.45 | $20.12 | $17.14 |
Net investment income1 | 0.22 | 0.34 | 0.30 | 0.25 | 0.22 |
Net realized and unrealized gain (loss) on investments | 9.32 | (4.05) | (0.27) | 2.32 | 3.00 |
Total from investment operations | 9.54 | (3.71) | 0.03 | 2.57 | 3.22 |
Less distributions | |||||
From net investment income | (0.33) | (0.30) | (0.29) | (0.23) | (0.24) |
From net realized gain | — | (0.92) | (1.61) | (1.01) | — |
Total distributions | (0.33) | (1.22) | (1.90) | (1.24) | (0.24) |
Net asset value, end of period | $23.86 | $14.65 | $19.58 | $21.45 | $20.12 |
Total return (%)2 | 65.58 | (20.77) | 0.64 | 12.71 | 18.80 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $5,618 | $5,250 | $7,399 | $6,988 | $7,540 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.82 | 0.82 | 0.82 | 0.81 | 0.81 |
Expenses including reductions | 0.82 | 0.81 | 0.81 | 0.80 | 0.80 |
Net investment income | 1.18 | 1.69 | 1.43 | 1.17 | 1.18 |
Portfolio turnover (%) | 55 | 88 | 69 | 45 | 65 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
20 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R2 SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 | 3-31-17 |
Per share operating performance | |||||
Net asset value, beginning of period | $14.63 | $19.57 | $21.43 | $20.10 | $17.13 |
Net investment income1 | 0.15 | 0.23 | 0.22 | 0.16 | 0.14 |
Net realized and unrealized gain (loss) on investments | 9.31 | (4.03) | (0.27) | 2.33 | 2.99 |
Total from investment operations | 9.46 | (3.80) | (0.05) | 2.49 | 3.13 |
Less distributions | |||||
From net investment income | (0.26) | (0.22) | (0.20) | (0.15) | (0.16) |
From net realized gain | — | (0.92) | (1.61) | (1.01) | — |
Total distributions | (0.26) | (1.14) | (1.81) | (1.16) | (0.16) |
Net asset value, end of period | $23.83 | $14.63 | $19.57 | $21.43 | $20.10 |
Total return (%)2 | 64.94 | (21.08) | 0.24 | 12.30 | 18.32 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $55 | $42 | $102 | $135 | $135 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.21 | 1.21 | 1.21 | 1.21 | 1.21 |
Expenses including reductions | 1.20 | 1.20 | 1.20 | 1.20 | 1.21 |
Net investment income | 0.80 | 1.17 | 1.02 | 0.76 | 0.78 |
Portfolio turnover (%) | 55 | 88 | 69 | 45 | 65 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 21 |
CLASS R4 SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 | 3-31-17 |
Per share operating performance | |||||
Net asset value, beginning of period | $14.65 | $19.59 | $21.45 | $20.12 | $17.14 |
Net investment income1 | 0.20 | 0.30 | 0.27 | 0.22 | 0.19 |
Net realized and unrealized gain (loss) on investments | 9.32 | (4.05) | (0.27) | 2.32 | 3.00 |
Total from investment operations | 9.52 | (3.75) | — | 2.54 | 3.19 |
Less distributions | |||||
From net investment income | (0.30) | (0.27) | (0.25) | (0.20) | (0.21) |
From net realized gain | — | (0.92) | (1.61) | (1.01) | — |
Total distributions | (0.30) | (1.19) | (1.86) | (1.21) | (0.21) |
Net asset value, end of period | $23.87 | $14.65 | $19.59 | $21.45 | $20.12 |
Total return (%)2 | 65.34 | (20.87) | 0.52 | 12.54 | 18.63 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $62 | $74 | $143 | $231 | $286 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.06 | 1.06 | 1.06 | 1.06 | 1.07 |
Expenses including reductions | 0.95 | 0.95 | 0.95 | 0.95 | 0.96 |
Net investment income | 1.06 | 1.50 | 1.26 | 1.02 | 1.03 |
Portfolio turnover (%) | 55 | 88 | 69 | 45 | 65 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
22 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R5 SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 | 3-31-17 |
Per share operating performance | |||||
Net asset value, beginning of period | $14.67 | $19.62 | $21.48 | $20.15 | $17.16 |
Net investment income1 | 0.23 | 0.34 | 0.31 | 0.26 | 0.23 |
Net realized and unrealized gain (loss) on investments | 9.35 | (4.06) | (0.26) | 2.32 | 3.00 |
Total from investment operations | 9.58 | (3.72) | 0.05 | 2.58 | 3.23 |
Less distributions | |||||
From net investment income | (0.34) | (0.31) | (0.30) | (0.24) | (0.24) |
From net realized gain | — | (0.92) | (1.61) | (1.01) | — |
Total distributions | (0.34) | (1.23) | (1.91) | (1.25) | (0.24) |
Net asset value, end of period | $23.91 | $14.67 | $19.62 | $21.48 | $20.15 |
Total return (%)2 | 65.67 | (20.74) | 0.75 | 12.73 | 18.88 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $40 | $61 | $166 | $198 | $200 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.76 | 0.76 | 0.76 | 0.76 | 0.76 |
Expenses including reductions | 0.75 | 0.75 | 0.75 | 0.75 | 0.75 |
Net investment income | 1.24 | 1.70 | 1.48 | 1.22 | 1.27 |
Portfolio turnover (%) | 55 | 88 | 69 | 45 | 65 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 23 |
CLASS R6 SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 | 3-31-17 |
Per share operating performance | |||||
Net asset value, beginning of period | $14.67 | $19.61 | $21.48 | $20.14 | $17.16 |
Net investment income1 | 0.24 | 0.36 | 0.32 | 0.27 | 0.24 |
Net realized and unrealized gain (loss) on investments | 9.35 | (4.06) | (0.27) | 2.33 | 3.00 |
Total from investment operations | 9.59 | (3.70) | 0.05 | 2.60 | 3.24 |
Less distributions | |||||
From net investment income | (0.35) | (0.32) | (0.31) | (0.25) | (0.26) |
From net realized gain | — | (0.92) | (1.61) | (1.01) | — |
Total distributions | (0.35) | (1.24) | (1.92) | (1.26) | (0.26) |
Net asset value, end of period | $23.91 | $14.67 | $19.61 | $21.48 | $20.14 |
Total return (%)2 | 65.74 | (20.66) | 0.76 | 12.84 | 18.97 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $3,844 | $3,369 | $4,584 | $4,564 | $3,077 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.71 | 0.71 | 0.71 | 0.71 | 0.72 |
Expenses including reductions | 0.71 | 0.70 | 0.70 | 0.70 | 0.69 |
Net investment income | 1.30 | 1.81 | 1.54 | 1.25 | 1.27 |
Portfolio turnover (%) | 55 | 88 | 69 | 45 | 65 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
24 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS NAV SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 | 3-31-17 |
Per share operating performance | |||||
Net asset value, beginning of period | $14.68 | $19.62 | $21.49 | $20.15 | $17.16 |
Net investment income1 | 0.25 | 0.36 | 0.33 | 0.27 | 0.24 |
Net realized and unrealized gain (loss) on investments | 9.34 | (4.06) | (0.28) | 2.34 | 3.01 |
Total from investment operations | 9.59 | (3.70) | 0.05 | 2.61 | 3.25 |
Less distributions | |||||
From net investment income | (0.35) | (0.32) | (0.31) | (0.26) | (0.26) |
From net realized gain | — | (0.92) | (1.61) | (1.01) | — |
Total distributions | (0.35) | (1.24) | (1.92) | (1.27) | (0.26) |
Net asset value, end of period | $23.92 | $14.68 | $19.62 | $21.49 | $20.15 |
Total return (%)2 | 65.71 | (20.64) | 0.77 | 12.85 | 18.95 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1,486 | $887 | $1,105 | $1,219 | $1,245 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.70 | 0.70 | 0.70 | 0.70 | 0.70 |
Expenses including reductions | 0.70 | 0.69 | 0.69 | 0.69 | 0.69 |
Net investment income | 1.31 | 1.83 | 1.54 | 1.28 | 1.27 |
Portfolio turnover (%) | 55 | 88 | 69 | 45 | 65 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 25 |
26 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 27 |
28 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT |
March 31, 2021 | March 31, 2020 | |
Ordinary income | $197,627,732 | $209,421,349 |
Long-term capital gains | — | 650,566,296 |
Total | $197,627,732 | $859,987,645 |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 29 |
Class | Expense reduction |
Class A | $63,878 |
Class B | 59 |
Class C | 10,205 |
Class I | 441,129 |
Class I2 | 1,373 |
Class R1 | 428 |
Class R2 | 3,852 |
Class | Expense reduction |
Class R3 | $333 |
Class R4 | 5,525 |
Class R5 | 3,872 |
Class R6 | 272,150 |
Class NAV | 91,084 |
Total | $893,888 |
Class | Rule 12b-1 Fee | Service fee |
Class A | 0.30% | — |
Class B | 1.00% | — |
Class C | 1.00% | — |
Class R1 | 0.50% | 0.25% |
Class R2 | 0.25% | 0.25% |
Class R3 | 0.50% | 0.15% |
Class R4 | 0.25% | 0.10% |
Class R5 | — | 0.05% |
30 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT |
Class | Distribution and service fees | Transfer agent fees |
Class A | $2,128,361 | $1,022,169 |
Class B | 8,801 | 1,096 |
Class C | 1,381,338 | 166,884 |
Class I | — | 7,131,976 |
Class I2 | — | 24,551 |
Class R1 | 44,062 | 794 |
Class R2 | 253,850 | 5,920 |
Class R3 | 31,185 | 630 |
Class R4 | 259,734 | 8,770 |
Class R5 | 25,338 | 6,477 |
Class R6 | — | 424,623 |
Total | $4,132,669 | $8,793,890 |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 31 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Borrower | $20,546,883 | 8 | 0.623% | $(2,847) |
Lender | 16,961,429 | 7 | 0.618% | 2,039 |
Year Ended 3-31-21 | Year Ended 3-31-20 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 8,187,313 | $161,642,817 | 8,099,695 | $161,568,240 |
Distributions reinvested | 531,956 | 11,256,191 | 2,637,777 | 55,762,596 |
Repurchased | (14,936,801) | (282,828,069) | (16,480,693) | (325,837,430) |
Net decrease | (6,217,532) | $(109,929,061) | (5,743,221) | $(108,506,594) |
Class B shares | ||||
Sold | 1,216 | $19,172 | 1,192 | $22,584 |
Distributions reinvested | — | — | 8,442 | 166,393 |
Repurchased | (137,308) | (2,339,634) | (164,821) | (3,165,681) |
Net decrease | (136,092) | $(2,320,462) | (155,187) | $(2,976,704) |
Class C shares | ||||
Sold | 389,798 | $7,302,308 | 644,136 | $12,311,289 |
Distributions reinvested | 47,041 | 930,006 | 489,485 | 9,682,020 |
Repurchased | (4,468,957) | (80,885,979) | (3,633,809) | (68,564,142) |
Net decrease | (4,032,118) | $(72,653,665) | (2,500,188) | $(46,570,833) |
Class I shares | ||||
Sold | 86,165,736 | $1,596,450,463 | 102,018,395 | $1,907,812,951 |
Distributions reinvested | 4,033,819 | 82,330,246 | 17,973,096 | 366,291,706 |
Repurchased | (213,208,859) | (4,149,349,799) | (139,397,179) | (2,680,658,813) |
Net decrease | (123,009,304) | $(2,470,569,090) | (19,405,688) | $(406,554,156) |
32 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT |
Year Ended 3-31-21 | Year Ended 3-31-20 | |||
Shares | Amount | Shares | Amount | |
Class I2 shares | ||||
Sold | 181,930 | $3,209,025 | 72,243 | $1,448,534 |
Distributions reinvested | — | — | 124,145 | 2,530,085 |
Repurchased | (2,362,340) | (43,819,297) | (575,124) | (11,394,741) |
Net decrease | (2,180,410) | $(40,610,272) | (378,736) | $(7,416,122) |
Class R1 shares | ||||
Sold | 74,561 | $1,236,411 | 197,405 | $3,877,157 |
Distributions reinvested | — | — | 30,916 | 630,377 |
Repurchased | (777,154) | (14,048,114) | (350,335) | (6,893,030) |
Net decrease | (702,593) | $(12,811,703) | (122,014) | $(2,385,496) |
Class R2 shares | ||||
Sold | 1,531,138 | $28,452,059 | 733,520 | $14,089,125 |
Distributions reinvested | 26,559 | 541,803 | 189,843 | 3,870,898 |
Repurchased | (2,137,192) | (41,125,478) | (3,237,649) | (65,014,511) |
Net decrease | (579,495) | $(12,131,616) | (2,314,286) | $(47,054,488) |
Class R3 shares | ||||
Sold | 46,238 | $797,795 | 270,206 | $5,400,467 |
Distributions reinvested | — | — | 35,261 | 718,612 |
Repurchased | (687,654) | (12,230,909) | (292,433) | (5,770,953) |
Net increase (decrease) | (641,416) | $(11,433,114) | 13,034 | $348,126 |
Class R4 shares | ||||
Sold | 611,151 | $11,317,565 | 942,602 | $18,482,411 |
Distributions reinvested | 52,244 | 1,066,824 | 302,431 | 6,169,593 |
Repurchased | (3,097,478) | (60,354,806) | (3,500,335) | (70,587,011) |
Net decrease | (2,434,083) | $(47,970,417) | (2,255,302) | $(45,935,007) |
Class R5 shares | ||||
Sold | 600,026 | $11,197,894 | 728,176 | $14,187,537 |
Distributions reinvested | 34,186 | 699,102 | 409,081 | 8,353,442 |
Repurchased | (3,134,822) | (58,126,506) | (5,399,053) | (108,668,647) |
Net decrease | (2,500,610) | $(46,229,510) | (4,261,796) | $(86,127,668) |
Class R6 shares | ||||
Sold | 36,332,826 | $691,270,101 | 43,133,272 | $824,215,152 |
Distributions reinvested | 2,865,844 | 58,577,852 | 12,963,310 | 264,581,161 |
Repurchased | (108,023,355) | (2,062,163,285) | (60,250,923) | (1,189,814,359) |
Net decrease | (68,824,685) | $(1,312,315,332) | (4,154,341) | $(101,018,046) |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 33 |
Year Ended 3-31-21 | Year Ended 3-31-20 | |||
Shares | Amount | Shares | Amount | |
Class NAV shares | ||||
Sold | 8,778,856 | $155,844,779 | 10,253,020 | $187,949,281 |
Distributions reinvested | 1,052,463 | 21,522,877 | 3,165,135 | 64,632,066 |
Repurchased | (8,105,073) | (163,586,958) | (9,328,190) | (189,813,426) |
Net increase | 1,726,246 | $13,780,698 | 4,089,965 | $62,767,921 |
Total net decrease | (209,532,092) | $(4,125,193,544) | (37,187,760) | $(791,429,067) |
Redesignation | Effective date | Amount | |||||
Class B shares as Class A shares | October 14, 2020 | $1,186,076 | |||||
Class I2 shares as Class I shares | October 9, 2020 | $42,807,288 | |||||
Class R1 shares as Class R2 shares | October 23, 2020 | $10,501,493 | |||||
Class R3 shares as Class R2 shares | October 9, 2020 | $8,937,799 |
34 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT |
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* | — | $6,063,564 | $790,562,126 | $(796,618,250) | $(4,505) | $(2,935) | $1,373,142 | — | — |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 35 |
36 | | |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 37 |
• | The Fund’s investment strategy remained appropriate for an open-end fund structure; |
• | The Fund was able to meet requests for redemption without significant dilution of remaining investors’ interests in the Fund; |
• | The Fund did not experience any breaches of the 15% limit on illiquid investments that would require reporting to the Securities and Exchange Commission; |
• | The Fund continued to qualify as a Primarily Highly Liquid Fund under the Liquidity Rule and therefore is not required to establish a HLIM;] and |
• | The Chief Compliance Officer’s office performed audit testing of the LRMP which resulted in an assessment that the LRMP’s control environment was deemed to be operating effectively and in compliance with the Board approved procedures. |
38 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 39 |
Independent Trustees | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Hassell H. McClellan, Born: 1945 | 2012 | 195 |
Trustee and Chairperson of the Board | ||
Director/Trustee, Virtus Funds (since 2008); Director, The Barnes Group (since 2010); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. | ||
Charles L. Bardelis,2 Born: 1941 | 2012 | 195 |
Trustee | ||
Director, Island Commuter Corp. (marine transport). Trustee of various trusts within the John Hancock Fund Complex (since 1988). | ||
James R. Boyle, Born: 1959 | 2015 | 195 |
Trustee | ||
Chief Executive Officer, Foresters Financial (since 2018); Chairman and Chief Executive Officer, Zillion Group, Inc. (formerly HealthFleet, Inc.) (healthcare) (2014-2018); Executive Vice President and Chief Executive Officer, U.S. Life Insurance Division of Genworth Financial, Inc. (insurance) (January 2014–July 2014); Senior Executive Vice President, Manulife Financial, President and Chief Executive Officer, John Hancock (1999–2012); Chairman and Director, John Hancock Investment Management LLC, John Hancock Investment Management Distributors LLC, and John Hancock Variable Trust Advisers LLC (2005–2010). Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). | ||
Peter S. Burgess,2 Born: 1942 | 2012 | 195 |
Trustee | ||
Consultant (financial, accounting, and auditing matters) (since 1999); Certified Public Accountant; Partner, Arthur Andersen (independent public accounting firm) (prior to 1999); Director, Lincoln Educational Services Corporation (since 2004); Director, Symetra Financial Corporation (2010–2016); Director, PMA Capital Corporation (2004–2010). Trustee of various trusts within the John Hancock Fund Complex (since 2005). | ||
William H. Cunningham, Born: 1944 | 2006 | 195 |
Trustee | ||
Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Chairman (since 2009) and Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000); former Director, LIN Television (2009–2014). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | ||
Grace K. Fey, Born: 1946 | 2012 | 195 |
Trustee | ||
Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
40 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
Independent Trustees (continued) | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Deborah C. Jackson, Born: 1952 | 2008 | 195 |
Trustee | ||
President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women’s Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Board of Directors, Association of Independent Colleges and Universities of Massachusetts (2014-2017); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of American Student Assistance Corporation (1996–2009); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | ||
James M. Oates,† Born: 1946 | 2012 | 195 |
Trustee | ||
Managing Director, Wydown Group (financial consulting firm) (since 1994); Chairman and Director, Emerson Investment Management, Inc. (2000-2015); Independent Chairman, Hudson Castle Group, Inc. (formerly IBEX Capital Markets, Inc.) (financial services company) (1997–2011); Director, Stifel Financial (since 1996); Director, Investor Financial Services Corporation (1995–2007); Director, Connecticut River Bancorp (1998-2014); Director/Trustee, Virtus Funds (since 1988). Trustee (since 2004) and Chairperson of the Board (2005-2016) of various trusts within the John Hancock Fund Complex. | ||
Steven R. Pruchansky, Born: 1944 | 2006 | 195 |
Trustee and Vice Chairperson of the Board | ||
Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex. | ||
Frances G. Rathke,2,* Born: 1960 | 2020 | 195 |
Trustee | ||
Director, Northern New England Energy Corporation (since 2017); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director, Audit Committee Chair and Compensation Committee Member, Planet Fitness (since 2016); Director, Citizen Cider, Inc. (high-end hard cider and hard seltzer company) (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015); Independent Financial Consultant, Frances Rathke Consulting (strategic and financial consulting services) (2001-2003); Chief Financial Officer and Secretary, Ben & Jerry’s Homemade, Inc. (1989-2000, including prior positions); Senior Manager, Coopers & Lybrand, LLC (independent public accounting firm) (1982-1989). Trustee of various trusts within the John Hancock Fund Complex (since 2020). |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 41 |
Independent Trustees (continued) | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Gregory A. Russo, Born: 1949 | 2008 | 195 |
Trustee | ||
Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018) and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002); Chairman and Treasurer,Westchester County, New York, Chamber of Commerce (1986–1992); Director, Treasurer, and Chairman of Audit and Finance Committees, Putnam Hospital Center (1989–1995); Director and Chairman of Fundraising Campaign, United Way of Westchester and Putnam Counties, New York (1990–1995). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
Non-Independent Trustees3 | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Andrew G. Arnott, Born: 1971 | 2017 | 195 |
President and Non-Independent Trustee | ||
Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | ||
Marianne Harrison, Born: 1963 | 2018 | 195 |
Non-Independent Trustee | ||
President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, CAE Inc. (since 2019); Member, Board of Directors, MA Competitive Partnership Board (since 2018); Member, Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, an industry-led innovation center that fosters technology companies in Canada (2017-2019); Member, Board of Directors, Manulife Assurance Canada (2015-2017); Board Member, St. Mary’s General Hospital Foundation (2014-2017); Member, Board of Directors, Manulife Bank of Canada (2013- 2017); Member, Standing Committee of the Canadian Life & Health Assurance Association (2013-2017); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, John Hancock New York (2012–2013). Trustee of various trusts within the John Hancock Fund Complex (since 2018). |
Principal officers who are not Trustees | |
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years | Officer of the Trust since |
Charles A. Rizzo, Born: 1957 | 2007 |
Chief Financial Officer | |
Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2008); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2007). |
42 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
Principal officers who are not Trustees (continued) | |
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years | Officer of the Trust since |
Salvatore Schiavone, Born: 1965 | 2010 |
Treasurer | |
Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). | |
Christopher (Kit) Sechler, Born: 1973 | 2018 |
Secretary and Chief Legal Officer | |
Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2018); Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009). | |
Trevor Swanberg, Born: 1979 | 2020 |
Chief Compliance Officer | |
Chief Compliance Officer, various trusts within the John Hancock Fund Complex, John Hancock Investment Management LLC, and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, various trusts within the John Hancock Fund Complex (2018–2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, various trusts within the John Hancock Fund Complex (2016–2018); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016). |
1 | Each Trustee holds office until his or her successor is elected and qualified, or until the Trustee’s death, retirement, resignation, or removal. Mr. Boyle has served as Trustee at various times prior to the date listed in the table. |
2 | Member of the Audit Committee. |
3 | The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates. |
† | Mr. Oates retired as Trustee effective April 30, 2021. |
* | Appointed as Independent Trustee effective as of September 15, 2020. |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 43 |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
Charles L. Bardelis*
James R. Boyle
Peter S. Burgess
*William H. Cunningham
Grace K. Fey
Marianne Harrison†
Deborah C. Jackson
James M. Oates*,1
Frances G. Rathke*,2
Gregory A. Russo
President
Chief Financial Officer
Treasurer
Secretary and Chief Legal Officer
Chief Compliance Officer
Mark E. Donovan, CFA
Stephanie T. McGirr
David J. Pyle, CFA
Joshua White, CFA
You can also contact us: | ||
800-225-5291 | Regular mail: | Express mail: |
jhinvestments.com | John Hancock Signature Services, Inc. P.O. Box 219909 Kansas City, MO 64121-9909 | John Hancock Signature Services, Inc. 430 W 7th Street Suite 219909 Kansas City, MO 64105-1407 |
44 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
GOVERNANCE FUNDS
with a heritage of financial stewardship dating back to 1862. Helping
our shareholders pursue their financial goals is at the core of everything
we do. It’s why we support the role of professional financial advice
and operate with the highest standards of conduct and integrity.
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
a diverse set of investments backed by some of the world’s best
managers, along with strong risk-adjusted returns across asset classes.
200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
MF1591703 | 330A 3/21 |
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 1 |
2 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 3 |
TOP 10 HOLDINGS AS OF 3/31/2021 (% of net assets) | |
Fifth Third Bancorp | 2.1 |
Huntington Bancshares, Inc. | 1.9 |
Ameriprise Financial, Inc. | 1.9 |
KeyCorp | 1.5 |
Dover Corp. | 1.4 |
Eaton Corp. PLC | 1.4 |
Qorvo, Inc. | 1.3 |
Truist Financial Corp. | 1.3 |
AMETEK, Inc. | 1.3 |
TE Connectivity, Ltd. | 1.3 |
TOTAL | 15.4 |
Cash and cash equivalents are not included. |
4 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 5 |
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | ||||
1-year | 5-year | 10-year | 5-year | 10-year | |
Class A | 63.02 | 10.81 | 11.22 | 67.05 | 189.56 |
Class C1 | 69.20 | 11.10 | 10.97 | 69.24 | 183.26 |
Class I2 | 71.97 | 12.22 | 12.09 | 77.99 | 213.13 |
Class R21,2 | 71.23 | 11.78 | 11.65 | 74.52 | 200.92 |
Class R41,2 | 71.69 | 12.06 | 11.87 | 76.69 | 206.91 |
Class R61,2 | 72.06 | 12.34 | 12.17 | 78.90 | 215.25 |
Index† | 73.76 | 11.60 | 11.05 | 73.09 | 185.35 |
Class A | Class C | Class I | Class R2 | Class R4 | Class R6 | |
Gross (%) | 1.12 | 1.87 | 0.87 | 1.26 | 1.11 | 0.76 |
Net (%) | 1.11 | 1.86 | 0.86 | 1.25 | 1.00 | 0.75 |
6 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT |
Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class C1,3 | 3-31-11 | 28,326 | 28,326 | 28,535 |
Class I2 | 3-31-11 | 31,313 | 31,313 | 28,535 |
Class R21,2 | 3-31-11 | 30,092 | 30,092 | 28,535 |
Class R41,2 | 3-31-11 | 30,691 | 30,691 | 28,535 |
Class R61,2 | 3-31-11 | 31,525 | 31,525 | 28,535 |
1 | Class C, Class R2, Class R4, and Class R6 shares were first offered on 8-15-11, 3-1-12, 7-2-13, and 9-1-11, respectively; Returns shown prior to these dates are those of Class A shares that have not been adjusted for class-specific expenses; otherwise, returns would vary. |
2 | For certain types of investors, as described in the fund's prospectus. |
3 | The contingent deferred sales charge is not applicable. |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 7 |
8 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT |
Account value on 10-1-2020 | Ending value on 3-31-2021 | Expenses paid during period ended 3-31-20211 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,381.10 | $6.53 | 1.10% |
Hypothetical example | 1,000.00 | 1,019.40 | 5.54 | 1.10% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,376.00 | 10.96 | 1.85% |
Hypothetical example | 1,000.00 | 1,015.70 | 9.30 | 1.85% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,383.20 | 5.11 | 0.86% |
Hypothetical example | 1,000.00 | 1,020.60 | 4.33 | 0.86% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 1,380.00 | 7.36 | 1.24% |
Hypothetical example | 1,000.00 | 1,018.70 | 6.24 | 1.24% | |
Class R4 | Actual expenses/actual returns | 1,000.00 | 1,382.20 | 5.94 | 1.00% |
Hypothetical example | 1,000.00 | 1,019.90 | 5.04 | 1.00% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,383.20 | 4.46 | 0.75% |
Hypothetical example | 1,000.00 | 1,021.20 | 3.78 | 0.75% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/365 (to reflect the one-half year period). |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 9 |
Shares | Value | ||||
Common stocks 97.7% | $16,848,488,559 | ||||
(Cost $11,398,368,396) | |||||
Communication services 1.8% | 307,432,224 | ||||
Entertainment 0.5% | |||||
Live Nation Entertainment, Inc. (A) | 958,192 | 81,110,953 | |||
Interactive media and services 0.3% | |||||
Yelp, Inc. (A) | 1,565,155 | 61,041,045 | |||
Media 1.0% | |||||
Altice USA, Inc., Class A (A) | 2,532,199 | 82,372,433 | |||
TEGNA, Inc. | 4,402,963 | 82,907,793 | |||
Consumer discretionary 13.4% | 2,309,975,540 | ||||
Auto components 1.1% | |||||
Gentex Corp. | 2,572,611 | 91,765,034 | |||
Lear Corp. | 575,764 | 104,357,225 | |||
Automobiles 0.8% | |||||
Harley-Davidson, Inc. | 3,601,989 | 144,439,759 | |||
Distributors 0.5% | |||||
LKQ Corp. (A) | 1,931,747 | 81,770,851 | |||
Hotels, restaurants and leisure 3.4% | |||||
Darden Restaurants, Inc. | 570,884 | 81,065,528 | |||
International Game Technology PLC (A) | 1,748,683 | 28,066,362 | |||
Las Vegas Sands Corp. (A) | 1,409,200 | 85,622,992 | |||
Marriott International, Inc., Class A (A) | 678,488 | 100,490,858 | |||
Norwegian Cruise Line Holdings, Ltd. (A)(B) | 2,055,731 | 56,717,618 | |||
Travel + Leisure Company | 1,199,065 | 73,334,815 | |||
Wyndham Hotels & Resorts, Inc. | 1,521,011 | 106,136,148 | |||
Wynn Resorts, Ltd. (A) | 448,463 | 56,223,806 | |||
Household durables 2.2% | |||||
Mohawk Industries, Inc. (A) | 770,103 | 148,098,508 | |||
Tempur Sealy International, Inc. | 1,538,846 | 56,260,210 | |||
Whirlpool Corp. | 747,221 | 164,650,147 | |||
Internet and direct marketing retail 1.4% | |||||
eBay, Inc. | 2,195,301 | 134,440,233 | |||
Expedia Group, Inc. (A) | 593,865 | 102,216,044 | |||
Leisure products 0.5% | |||||
Hasbro, Inc. | 901,586 | 86,660,446 | |||
Multiline retail 0.3% | |||||
Dollar Tree, Inc. (A) | 481,350 | 55,095,321 | |||
Specialty retail 3.2% | |||||
AutoZone, Inc. (A) | 134,598 | 189,015,971 |
10 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Consumer discretionary (continued) | |||||
Specialty retail (continued) | |||||
Best Buy Company, Inc. | 461,712 | $53,009,155 | |||
Foot Locker, Inc. | 1,838,199 | 103,398,694 | |||
Ross Stores, Inc. | 982,895 | 117,858,939 | |||
Ulta Beauty, Inc. (A) | 288,776 | 89,280,876 | |||
Consumer staples 1.5% | 261,116,922 | ||||
Beverages 0.8% | |||||
Coca-Cola European Partners PLC | 2,552,386 | 133,132,454 | |||
Food and staples retailing 0.3% | |||||
U.S. Foods Holding Corp. (A) | 1,608,432 | 61,313,428 | |||
Food products 0.4% | |||||
Nomad Foods, Ltd. (A) | 2,427,933 | 66,671,040 | |||
Energy 6.3% | 1,084,159,219 | ||||
Energy equipment and services 2.5% | |||||
ChampionX Corp. (A) | 4,346,467 | 94,448,728 | |||
Halliburton Company | 3,842,279 | 82,455,307 | |||
Helmerich & Payne, Inc. | 2,537,776 | 68,418,441 | |||
Schlumberger NV | 7,024,088 | 190,984,953 | |||
Oil, gas and consumable fuels 3.8% | |||||
ConocoPhillips | 3,006,479 | 159,253,193 | |||
Diamondback Energy, Inc. | 949,762 | 69,798,009 | |||
HollyFrontier Corp. | 2,061,110 | 73,746,516 | |||
Marathon Petroleum Corp. | 2,522,064 | 134,905,203 | |||
Pioneer Natural Resources Company | 845,655 | 134,306,927 | |||
Valero Energy Corp. | 1,059,245 | 75,841,942 | |||
Financials 18.6% | 3,206,532,809 | ||||
Banks 8.0% | |||||
East West Bancorp, Inc. | 2,732,049 | 201,625,216 | |||
Fifth Third Bancorp | 9,506,608 | 356,022,470 | |||
Huntington Bancshares, Inc. | 20,766,579 | 326,450,622 | |||
KeyCorp | 12,958,000 | 258,900,838 | |||
Truist Financial Corp. | 3,882,419 | 226,422,676 | |||
Capital markets 2.3% | |||||
Ameriprise Financial, Inc. | 1,399,788 | 325,380,721 | |||
State Street Corp. | 852,358 | 71,606,596 | |||
Consumer finance 2.4% | |||||
Capital One Financial Corp. | 563,680 | 71,717,006 | |||
Discover Financial Services | 1,940,437 | 184,322,111 | |||
SLM Corp. | 5,101,047 | 91,665,815 | |||
Synchrony Financial | 1,753,158 | 71,283,404 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 11 |
Shares | Value | ||||
Financials (continued) | |||||
Insurance 5.5% | |||||
Aflac, Inc. | 1,310,646 | $67,078,862 | |||
Alleghany Corp. (A) | 235,143 | 147,267,709 | |||
American International Group, Inc. | 2,328,689 | 107,608,719 | |||
Aon PLC, Class A | 442,836 | 101,900,992 | |||
Everest Re Group, Ltd. | 566,286 | 140,331,334 | |||
Globe Life, Inc. | 1,005,311 | 97,143,202 | |||
Reinsurance Group of America, Inc. | 666,937 | 84,067,409 | |||
RenaissanceRe Holdings, Ltd. | 391,154 | 62,682,429 | |||
The Travelers Companies, Inc. | 461,059 | 69,343,274 | |||
Willis Towers Watson PLC | 294,946 | 67,507,240 | |||
Thrifts and mortgage finance 0.4% | |||||
Essent Group, Ltd. | 1,604,636 | 76,204,164 | |||
Health care 8.7% | 1,501,554,163 | ||||
Health care equipment and supplies 1.3% | |||||
Boston Scientific Corp. (A) | 1,516,837 | 58,625,750 | |||
Zimmer Biomet Holdings, Inc. | 1,028,294 | 164,609,304 | |||
Health care providers and services 4.9% | |||||
AmerisourceBergen Corp. | 1,177,900 | 139,074,653 | |||
Centene Corp. (A) | 1,800,259 | 115,054,553 | |||
HCA Healthcare, Inc. | 525,620 | 98,995,271 | |||
Humana, Inc. | 383,299 | 160,698,106 | |||
Laboratory Corp. of America Holdings (A) | 307,488 | 78,418,665 | |||
Molina Healthcare, Inc. (A) | 363,801 | 85,042,122 | |||
Universal Health Services, Inc., Class B | 1,216,868 | 162,318,023 | |||
Life sciences tools and services 2.2% | |||||
Avantor, Inc. (A) | 4,319,875 | 124,973,984 | |||
ICON PLC (A) | 638,703 | 125,422,108 | |||
IQVIA Holdings, Inc. (A) | 328,326 | 63,412,884 | |||
PPD, Inc. (A) | 1,855,236 | 70,202,130 | |||
Pharmaceuticals 0.3% | |||||
Jazz Pharmaceuticals PLC (A) | 332,826 | 54,706,610 | |||
Industrials 22.4% | 3,859,239,252 | ||||
Aerospace and defense 5.8% | |||||
BWX Technologies, Inc. | 1,905,886 | 125,674,123 | |||
Curtiss-Wright Corp. | 656,903 | 77,908,696 | |||
General Dynamics Corp. | 629,051 | 114,210,500 | |||
Hexcel Corp. (A) | 2,002,654 | 112,148,624 | |||
Howmet Aerospace, Inc. (A) | 5,349,642 | 171,883,997 | |||
Huntington Ingalls Industries, Inc. | 467,006 | 96,133,185 | |||
L3Harris Technologies, Inc. | 638,397 | 129,390,304 | |||
Textron, Inc. | 3,096,753 | 173,665,908 |
12 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Industrials (continued) | |||||
Air freight and logistics 0.4% | |||||
Expeditors International of Washington, Inc. | 688,801 | $74,176,980 | |||
Airlines 1.4% | |||||
Alaska Air Group, Inc. (A) | 1,927,110 | 133,375,283 | |||
Southwest Airlines Company (A) | 1,681,722 | 102,685,945 | |||
Building products 1.2% | |||||
Masco Corp. | 1,419,362 | 85,019,784 | |||
Owens Corning | 1,367,766 | 125,957,571 | |||
Construction and engineering 0.5% | |||||
MasTec, Inc. (A) | 911,689 | 85,425,259 | |||
Electrical equipment 4.1% | |||||
AMETEK, Inc. | 1,770,003 | 226,082,483 | |||
Eaton Corp. PLC | 1,671,914 | 231,192,268 | |||
EnerSys | 600,026 | 54,482,361 | |||
Hubbell, Inc. | 283,919 | 53,061,622 | |||
Regal Beloit Corp. | 442,036 | 63,069,696 | |||
Vertiv Holdings Company | 3,438,221 | 68,764,420 | |||
Machinery 6.5% | |||||
Allison Transmission Holdings, Inc. | 2,659,536 | 108,588,855 | |||
Altra Industrial Motion Corp. | 1,550,114 | 85,752,306 | |||
Cummins, Inc. | 431,071 | 111,694,807 | |||
Dover Corp. | 1,772,962 | 243,126,279 | |||
ITT, Inc. | 1,715,895 | 155,992,014 | |||
Oshkosh Corp. | 1,249,792 | 148,300,319 | |||
PACCAR, Inc. | 939,186 | 87,269,163 | |||
Parker-Hannifin Corp. | 580,871 | 183,224,140 | |||
Professional services 2.5% | |||||
ASGN, Inc. (A) | 1,244,438 | 118,769,163 | |||
Leidos Holdings, Inc. | 1,192,086 | 114,774,040 | |||
Robert Half International, Inc. | 1,542,403 | 120,415,402 | |||
Science Applications International Corp. | 921,447 | 77,023,755 | |||
Information technology 8.0% | 1,374,021,575 | ||||
Electronic equipment, instruments and components 1.8% | |||||
Flex, Ltd. (A) | 4,420,083 | 80,931,720 | |||
TE Connectivity, Ltd. | 1,705,278 | 220,168,443 | |||
IT services 0.9% | |||||
Amdocs, Ltd. | 840,794 | 58,981,699 | |||
EVERTEC, Inc. | 2,369,125 | 88,178,833 | |||
Semiconductors and semiconductor equipment 3.0% | |||||
KLA Corp. | 262,048 | 86,580,659 | |||
NXP Semiconductors NV | 1,041,108 | 209,616,685 | |||
Qorvo, Inc. (A) | 1,244,143 | 227,304,926 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 13 |
Shares | Value | ||||
Information technology (continued) | |||||
Software 0.5% | |||||
SS&C Technologies Holdings, Inc. | 1,268,263 | $88,613,536 | |||
Technology hardware, storage and peripherals 1.8% | |||||
NetApp, Inc. | 1,350,847 | 98,166,051 | |||
Western Digital Corp. | 1,986,073 | 132,570,373 | |||
Xerox Holdings Corp. | 3,416,096 | 82,908,650 | |||
Materials 6.2% | 1,074,888,285 | ||||
Chemicals 4.6% | |||||
Corteva, Inc. | 2,988,712 | 139,333,753 | |||
DuPont de Nemours, Inc. | 1,758,198 | 135,873,541 | |||
FMC Corp. | 1,722,721 | 190,550,170 | |||
Ingevity Corp. (A) | 924,160 | 69,801,805 | |||
PPG Industries, Inc. | 560,023 | 84,149,056 | |||
The Mosaic Company | 3,051,842 | 96,468,726 | |||
Valvoline, Inc. | 2,713,912 | 70,751,686 | |||
Construction materials 0.5% | |||||
Eagle Materials, Inc. | 714,535 | 96,040,649 | |||
Containers and packaging 0.3% | |||||
Avery Dennison Corp. | 326,662 | 59,991,476 | |||
Metals and mining 0.8% | |||||
Steel Dynamics, Inc. | 2,599,043 | 131,927,423 | |||
Real estate 6.7% | 1,164,716,074 | ||||
Equity real estate investment trusts 6.7% | |||||
American Homes 4 Rent, Class A | 2,674,191 | 89,157,528 | |||
Cousins Properties, Inc. | 2,665,460 | 94,224,011 | |||
CyrusOne, Inc. | 1,125,329 | 76,207,280 | |||
Duke Realty Corp. | 3,263,504 | 136,838,723 | |||
Equity Residential | 2,042,288 | 146,289,089 | |||
Essex Property Trust, Inc. | 383,743 | 104,316,697 | |||
Healthpeak Properties, Inc. | 2,703,960 | 85,823,690 | |||
Kilroy Realty Corp. | 1,304,556 | 85,618,010 | |||
Lamar Advertising Company, Class A | 755,294 | 70,937,212 | |||
Regency Centers Corp. | 2,250,213 | 127,609,579 | |||
Welltower, Inc. | 2,061,905 | 147,694,255 | |||
Utilities 4.1% | 704,852,496 | ||||
Electric utilities 2.3% | |||||
American Electric Power Company, Inc. | 818,170 | 69,298,999 | |||
Edison International | 2,106,742 | 123,455,081 | |||
Entergy Corp. | 1,116,705 | 111,078,646 | |||
PG&E Corp. (A) | 7,270,967 | 85,143,024 |
14 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Utilities (continued) | |||||
Multi-utilities 1.8% | |||||
CenterPoint Energy, Inc. | 8,803,374 | $199,396,421 | |||
DTE Energy Company | 874,871 | 116,480,325 | |||
Yield (%) | Shares | Value | |||
Short-term investments 2.5% | $434,672,927 | ||||
(Cost $434,672,951) | |||||
Short-term funds 2.5% | 434,672,927 | ||||
John Hancock Collateral Trust (C) | 0.0470(D) | 122,930 | 1,229,904 | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 0.0359(D) | 433,443,023 | 433,443,023 |
Total investments (Cost $11,833,041,347) 100.2% | $17,283,161,486 | ||||
Other assets and liabilities, net (0.2%) | (40,385,127) | ||||
Total net assets 100.0% | $17,242,776,359 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
Security Abbreviations and Legend | |
(A) | Non-income producing security. |
(B) | All or a portion of this security is on loan as of 3-31-21. |
(C) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |
(D) | The rate shown is the annualized seven-day yield as of 3-31-21. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 15 |
Assets | |
Unaffiliated investments, at value (Cost $11,831,811,419) including $1,194,787 of securities loaned | $17,281,931,582 |
Affiliated investments, at value (Cost $1,229,928) | 1,229,904 |
Total investments, at value (Cost $11,833,041,347) | 17,283,161,486 |
Dividends and interest receivable | 19,923,704 |
Receivable for fund shares sold | 48,026,337 |
Receivable for investments sold | 10,688,959 |
Receivable for securities lending income | 4,367 |
Other assets | 415,075 |
Total assets | 17,362,219,928 |
Liabilities | |
Payable for investments purchased | 98,467,657 |
Payable for fund shares repurchased | 16,585,514 |
Payable upon return of securities loaned | 1,229,928 |
Payable to affiliates | |
Accounting and legal services fees | 669,367 |
Transfer agent fees | 1,244,006 |
Distribution and service fees | 63,883 |
Trustees' fees | 6,037 |
Other liabilities and accrued expenses | 1,177,177 |
Total liabilities | 119,443,569 |
Net assets | $17,242,776,359 |
Net assets consist of | |
Paid-in capital | $11,210,253,905 |
Total distributable earnings (loss) | 6,032,522,454 |
Net assets | $17,242,776,359 |
Net asset value per share | |
Based on net asset value and shares outstanding - the fund has an unlimited number of shares authorized with no par value | |
Class A ($1,204,138,565 ÷ 47,544,262 shares)1 | $25.33 |
Class C ($92,290,234 ÷ 3,641,725 shares)1 | $25.34 |
Class I ($11,931,922,876 ÷ 450,439,203 shares) | $26.49 |
Class R2 ($105,945,419 ÷ 4,017,012 shares) | $26.37 |
Class R4 ($130,313,746 ÷ 4,925,196 shares) | $26.46 |
Class R6 ($3,778,165,519 ÷ 142,654,924 shares) | $26.48 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $26.66 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
16 | JOHN HANCOCK Disciplined Value Mid Cap Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Investment income | |
Dividends | $209,999,505 |
Securities lending | 1,055,040 |
Interest | 151,610 |
Less foreign taxes withheld | (305,402) |
Total investment income | 210,900,753 |
Expenses | |
Investment management fees | 91,467,137 |
Distribution and service fees | 4,227,174 |
Accounting and legal services fees | 2,054,900 |
Transfer agent fees | 11,813,738 |
Trustees' fees | 209,818 |
Custodian fees | 1,327,231 |
State registration fees | 297,458 |
Printing and postage | 632,368 |
Professional fees | 288,404 |
Other | 347,330 |
Total expenses | 112,665,558 |
Less expense reductions | (1,078,618) |
Net expenses | 111,586,940 |
Net investment income | 99,313,813 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments | 891,151,715 |
Affiliated investments | 117,190 |
Realized gain on investments not meeting investment restrictions | 389,254 |
Redemptions in kind | 59,642,022 |
951,300,181 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments | 5,855,257,073 |
Affiliated investments | (25,133) |
5,855,231,940 | |
Net realized and unrealized gain | 6,806,532,121 |
Increase in net assets from operations | $6,905,845,934 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Mid Cap Fund | 17 |
Year ended 3-31-21 | Year ended 3-31-20 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $99,313,813 | $124,207,131 |
Net realized gain | 951,300,181 | 113,183,884 |
Change in net unrealized appreciation (depreciation) | 5,855,231,940 | (2,735,655,599) |
Increase (decrease) in net assets resulting from operations | 6,905,845,934 | (2,498,264,584) |
Distributions to shareholders | ||
From earnings | ||
Class A | (10,011,633) | (25,996,912) |
Class C | (337,541) | (2,622,914) |
Class I | (105,682,902) | (214,061,726) |
Class R2 | (827,271) | (2,428,506) |
Class R4 | (1,268,379) | (2,021,537) |
Class R6 | (39,590,248) | (83,982,247) |
Class ADV1 | — | (17,729) |
Total distributions | (157,717,974) | (331,131,571) |
From fund share transactions | 578,280,006 | 396,141,647 |
Total increase (decrease) | 7,326,407,966 | (2,433,254,508) |
Net assets | ||
Beginning of year | 9,916,368,393 | 12,349,622,901 |
End of year | $17,242,776,359 | $9,916,368,393 |
1 | Share class was redesignated during the year. Refer to Note 5 for further details. |
18 | JOHN HANCOCK Disciplined Value Mid Cap Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS A SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 | 3-31-17 |
Per share operating performance | |||||
Net asset value, beginning of period | $14.91 | $19.08 | $22.35 | $21.61 | $18.49 |
Net investment income1 | 0.10 | 0.14 | 0.12 | 0.07 | 0.10 |
Net realized and unrealized gain (loss) on investments | 10.54 | (3.83) | (1.01) | 2.11 | 3.57 |
Total from investment operations | 10.64 | (3.69) | (0.89) | 2.18 | 3.67 |
Less distributions | |||||
From net investment income | (0.14) | (0.14) | (0.13) | (0.06) | (0.14) |
From net realized gain | (0.08) | (0.34) | (2.25) | (1.38) | (0.41) |
Total distributions | (0.22) | (0.48) | (2.38) | (1.44) | (0.55) |
Net asset value, end of period | $25.33 | $14.91 | $19.08 | $22.35 | $21.61 |
Total return (%)2,3 | 71.55 | (20.06) | (2.98) | 10.15 | 19.96 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1,204 | $782 | $1,184 | $1,547 | $2,088 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.12 | 1.12 | 1.11 | 1.11 | 1.12 |
Expenses including reductions | 1.11 | 1.12 | 1.10 | 1.10 | 1.12 |
Net investment income | 0.52 | 0.70 | 0.58 | 0.30 | 0.48 |
Portfolio turnover (%) | 524 | 54 | 53 | 53 | 50 |
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 | Excludes in-kind transactions. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Mid Cap Fund | 19 |
CLASS C SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 | 3-31-17 |
Per share operating performance | |||||
Net asset value, beginning of period | $14.94 | $19.13 | $22.42 | $21.77 | $18.65 |
Net investment loss1 | (0.05) | (0.01) | (0.04) | (0.10) | (0.05) |
Net realized and unrealized gain (loss) on investments | 10.53 | (3.84) | (1.00) | 2.13 | 3.58 |
Total from investment operations | 10.48 | (3.85) | (1.04) | 2.03 | 3.53 |
Less distributions | |||||
From net realized gain | (0.08) | (0.34) | (2.25) | (1.38) | (0.41) |
Net asset value, end of period | $25.34 | $14.94 | $19.13 | $22.42 | $21.77 |
Total return (%)2,3 | 70.20 | (20.63) | (3.72) | 9.35 | 18.99 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $92 | $107 | $182 | $278 | $319 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.87 | 1.87 | 1.86 | 1.86 | 1.87 |
Expenses including reductions | 1.86 | 1.87 | 1.85 | 1.85 | 1.87 |
Net investment loss | (0.23) | (0.07) | (0.19) | (0.43) | (0.27) |
Portfolio turnover (%) | 524 | 54 | 53 | 53 | 50 |
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 | Excludes in-kind transactions. |
20 | JOHN HANCOCK Disciplined Value Mid Cap Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS I SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 | 3-31-17 |
Per share operating performance | |||||
Net asset value, beginning of period | $15.58 | $19.91 | $23.22 | $22.39 | $19.14 |
Net investment income1 | 0.16 | 0.20 | 0.18 | 0.14 | 0.16 |
Net realized and unrealized gain (loss) on investments | 11.02 | (4.00) | (1.06) | 2.19 | 3.69 |
Total from investment operations | 11.18 | (3.80) | (0.88) | 2.33 | 3.85 |
Less distributions | |||||
From net investment income | (0.19) | (0.19) | (0.18) | (0.12) | (0.19) |
From net realized gain | (0.08) | (0.34) | (2.25) | (1.38) | (0.41) |
Total distributions | (0.27) | (0.53) | (2.43) | (1.50) | (0.60) |
Net asset value, end of period | $26.49 | $15.58 | $19.91 | $23.22 | $22.39 |
Total return (%)2 | 71.97 | (19.84) | (2.79) | 10.46 | 20.25 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $11,932 | $6,349 | $7,784 | $9,799 | $9,512 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.87 | 0.87 | 0.88 | 0.86 | 0.86 |
Expenses including reductions | 0.86 | 0.87 | 0.87 | 0.85 | 0.86 |
Net investment income | 0.78 | 0.97 | 0.82 | 0.58 | 0.75 |
Portfolio turnover (%) | 523 | 54 | 53 | 53 | 50 |
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 | Excludes in-kind transactions. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Mid Cap Fund | 21 |
CLASS R2 SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 | 3-31-17 |
Per share operating performance | |||||
Net asset value, beginning of period | $15.53 | $19.85 | $23.14 | $22.32 | $19.09 |
Net investment income1 | 0.08 | 0.11 | 0.09 | 0.04 | 0.07 |
Net realized and unrealized gain (loss) on investments | 10.96 | (3.98) | (1.04) | 2.19 | 3.68 |
Total from investment operations | 11.04 | (3.87) | (0.95) | 2.23 | 3.75 |
Less distributions | |||||
From net investment income | (0.12) | (0.11) | (0.09) | (0.03) | (0.11) |
From net realized gain | (0.08) | (0.34) | (2.25) | (1.38) | (0.41) |
Total distributions | (0.20) | (0.45) | (2.34) | (1.41) | (0.52) |
Net asset value, end of period | $26.37 | $15.53 | $19.85 | $23.14 | $22.32 |
Total return (%)2 | 71.23 | (20.14) | (3.14) | 10.03 | 19.76 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $106 | $77 | $131 | $188 | $216 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.25 | 1.26 | 1.27 | 1.26 | 1.27 |
Expenses including reductions | 1.24 | 1.25 | 1.26 | 1.25 | 1.26 |
Net investment income | 0.39 | 0.54 | 0.41 | 0.17 | 0.35 |
Portfolio turnover (%) | 523 | 54 | 53 | 53 | 50 |
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 | Excludes in-kind transactions. |
22 | JOHN HANCOCK Disciplined Value Mid Cap Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R4 SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 | 3-31-17 |
Per share operating performance | |||||
Net asset value, beginning of period | $15.57 | $19.90 | $23.20 | $22.38 | $19.13 |
Net investment income1 | 0.14 | 0.17 | 0.15 | 0.09 | 0.12 |
Net realized and unrealized gain (loss) on investments | 10.99 | (4.00) | (1.05) | 2.20 | 3.70 |
Total from investment operations | 11.13 | (3.83) | (0.90) | 2.29 | 3.82 |
Less distributions | |||||
From net investment income | (0.16) | (0.16) | (0.15) | (0.09) | (0.16) |
From net realized gain | (0.08) | (0.34) | (2.25) | (1.38) | (0.41) |
Total distributions | (0.24) | (0.50) | (2.40) | (1.47) | (0.57) |
Net asset value, end of period | $26.46 | $15.57 | $19.90 | $23.20 | $22.38 |
Total return (%)2 | 71.69 | (19.96) | (2.90) | 10.26 | 20.09 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $130 | $55 | $74 | $97 | $95 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.11 | 1.11 | 1.12 | 1.12 | 1.11 |
Expenses including reductions | 1.00 | 1.00 | 1.01 | 1.01 | 1.00 |
Net investment income | 0.65 | 0.81 | 0.68 | 0.42 | 0.60 |
Portfolio turnover (%) | 523 | 54 | 53 | 53 | 50 |
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 | Excludes in-kind transactions. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Mid Cap Fund | 23 |
CLASS R6 SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 | 3-31-17 |
Per share operating performance | |||||
Net asset value, beginning of period | $15.58 | $19.90 | $23.21 | $22.38 | $19.13 |
Net investment income1 | 0.18 | 0.23 | 0.21 | 0.17 | 0.18 |
Net realized and unrealized gain (loss) on investments | 11.01 | (4.00) | (1.07) | 2.18 | 3.69 |
Total from investment operations | 11.19 | (3.77) | (0.86) | 2.35 | 3.87 |
Less distributions | |||||
From net investment income | (0.21) | (0.21) | (0.20) | (0.14) | (0.21) |
From net realized gain | (0.08) | (0.34) | (2.25) | (1.38) | (0.41) |
Total distributions | (0.29) | (0.55) | (2.45) | (1.52) | (0.62) |
Net asset value, end of period | $26.48 | $15.58 | $19.90 | $23.21 | $22.38 |
Total return (%)2 | 72.06 | (19.72) | (2.66) | 10.56 | 20.35 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $3,778 | $2,546 | $2,994 | $2,748 | $1,774 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.76 | 0.76 | 0.77 | 0.77 | 0.77 |
Expenses including reductions | 0.75 | 0.76 | 0.76 | 0.76 | 0.76 |
Net investment income | 0.88 | 1.08 | 0.96 | 0.71 | 0.86 |
Portfolio turnover (%) | 523 | 54 | 53 | 53 | 50 |
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 | Excludes in-kind transactions. |
24 | JOHN HANCOCK Disciplined Value Mid Cap Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Mid Cap Fund | 25 |
26 | JOHN HANCOCK Disciplined Value Mid Cap Fund | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Mid Cap Fund | 27 |
March 31, 2021 | March 31, 2020 | |
Ordinary income | $111,738,470 | $118,353,152 |
Long-term capital gains | 45,979,504 | 212,778,419 |
Total | $157,717,974 | $331,131,571 |
28 | JOHN HANCOCK Disciplined Value Mid Cap Fund | ANNUAL REPORT |
Class | Expense reduction |
Class A | $70,975 |
Class C | 7,632 |
Class I | 643,154 |
Class R2 | 6,966 |
Class | Expense reduction |
Class R4 | $8,188 |
Class R6 | 233,382 |
Class ADV | 20 |
Total | $970,317 |
Class | Rule 12b-1 Fee | Service fee |
Class A | 0.30% | — |
Class C | 1.00% | — |
Class R2 | 0.25% | 0.25% |
Class R4 | 0.25% | 0.10% |
Class ADV | 0.25% | — |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Mid Cap Fund | 29 |
Class | Distribution and service fees | Transfer agent fees |
Class A | $2,358,865 | $1,131,478 |
Class C | 1,037,827 | 125,487 |
Class I | — | 10,175,844 |
Class R2 | 450,326 | 10,725 |
Class R4 | 379,417 | 12,217 |
Class R6 | — | 357,624 |
Class ADV | 739 | 363 |
Total | $4,227,174 | $11,813,738 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Borrower | $29,500,000 | 3 | 0.530% | $(1,303) |
Lender | 20,680,156 | 7 | 0.602% | 2,419 |
30 | JOHN HANCOCK Disciplined Value Mid Cap Fund | ANNUAL REPORT |
Year Ended 3-31-21 | Year Ended 3-31-20 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 13,472,994 | $275,798,014 | 13,654,022 | $265,293,757 |
Distributions reinvested | 392,018 | 8,620,473 | 1,080,962 | 22,667,783 |
Repurchased | (18,748,352) | (357,054,624) | (24,370,445) | (471,965,836) |
Net decrease | (4,883,340) | $(72,636,137) | (9,635,461) | $(184,004,296) |
Class C shares | ||||
Sold | 600,150 | $12,511,177 | 646,233 | $12,714,167 |
Distributions reinvested | 15,155 | 334,157 | 110,510 | 2,326,246 |
Repurchased | (4,152,547) | (83,165,788) | (3,069,943) | (60,355,776) |
Net decrease | (3,537,242) | $(70,320,454) | (2,313,200) | $(45,315,363) |
Class I shares | ||||
Sold | 165,501,257 | $3,618,428,209 | 132,026,217 | $2,651,759,012 |
Distributions reinvested | 3,982,496 | 91,517,750 | 8,328,620 | 182,396,777 |
Repurchased | (126,485,840) | (2,572,453,814) | (123,797,738) | (2,419,758,033) |
Net increase | 42,997,913 | $1,137,492,145 | 16,557,099 | $414,397,756 |
Class R2 shares | ||||
Sold | 888,114 | $18,487,562 | 1,106,934 | $21,770,845 |
Distributions reinvested | 32,130 | 736,103 | 97,034 | 2,119,217 |
Repurchased | (1,852,216) | (38,500,430) | (2,850,860) | (59,144,063) |
Net decrease | (931,972) | $(19,276,765) | (1,646,892) | $(35,254,001) |
Class R4 shares | ||||
Sold | 4,035,160 | $73,620,175 | 1,516,265 | $31,772,255 |
Distributions reinvested | 55,244 | 1,268,379 | 92,350 | 2,021,537 |
Repurchased | (2,704,605) | (56,524,560) | (1,809,529) | (38,067,820) |
Net increase (decrease) | 1,385,799 | $18,363,994 | (200,914) | $(4,274,028) |
Class R6 shares | ||||
Sold | 38,945,260 | $804,385,733 | 42,572,165 | $851,126,502 |
Distributions reinvested | 1,631,198 | 37,468,623 | 3,643,329 | 79,716,046 |
Repurchased | (61,377,815) | (1,256,581,892) | (33,199,308) | (680,251,869) |
Net increase (decrease) | (20,801,357) | $(414,727,536) | 13,016,186 | $250,590,679 |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Mid Cap Fund | 31 |
Year Ended 3-31-21 | Year Ended 3-31-20 | |||
Shares | Amount | Shares | Amount | |
Class ADV shares | ||||
Sold | 2,365 | $40,000 | 6,498 | $131,200 |
Distributions reinvested | — | — | 844 | 17,640 |
Repurchased | (33,632) | (655,241) | (6,990) | (147,940) |
Net increase (decrease) | (31,267) | $(615,241) | 352 | $900 |
Total net increase | 14,198,534 | $578,280,006 | 15,777,170 | $396,141,647 |
Redesignation | Effective date | Amount | |||||
Class ADV shares as Class A shares | October 9, 2020 | $610,733 |
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* | 122,930 | $57,755,072 | $1,015,888,592 | $(1,072,505,817) | $117,190 | $(25,133) | $1,055,040 | — | $1,229,904 |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
32 | JOHN HANCOCK Disciplined Value Mid Cap Fund | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 33 |
34 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT |
• | The Fund’s investment strategy remained appropriate for an open-end fund structure; |
• | The Fund was able to meet requests for redemption without significant dilution of remaining investors’ interests in the Fund; |
• | The Fund did not experience any breaches of the 15% limit on illiquid investments that would require reporting to the Securities and Exchange Commission; |
• | The Fund continued to qualify as a Primarily Highly Liquid Fund under the Liquidity Rule and therefore is not required to establish a HLIM;] and |
• | The Chief Compliance Officer’s office performed audit testing of the LRMP which resulted in an assessment that the LRMP’s control environment was deemed to be operating effectively and in compliance with the Board approved procedures. |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 35 |
36 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT |
Independent Trustees | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Hassell H. McClellan, Born: 1945 | 2012 | 195 |
Trustee and Chairperson of the Board | ||
Director/Trustee, Virtus Funds (since 2008); Director, The Barnes Group (since 2010); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. | ||
Charles L. Bardelis,2 Born: 1941 | 2012 | 195 |
Trustee | ||
Director, Island Commuter Corp. (marine transport). Trustee of various trusts within the John Hancock Fund Complex (since 1988). | ||
James R. Boyle, Born: 1959 | 2015 | 195 |
Trustee | ||
Chief Executive Officer, Foresters Financial (since 2018); Chairman and Chief Executive Officer, Zillion Group, Inc. (formerly HealthFleet, Inc.) (healthcare) (2014-2018); Executive Vice President and Chief Executive Officer, U.S. Life Insurance Division of Genworth Financial, Inc. (insurance) (January 2014–July 2014); Senior Executive Vice President, Manulife Financial, President and Chief Executive Officer, John Hancock (1999–2012); Chairman and Director, John Hancock Investment Management LLC, John Hancock Investment Management Distributors LLC, and John Hancock Variable Trust Advisers LLC (2005–2010). Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). | ||
Peter S. Burgess,2 Born: 1942 | 2012 | 195 |
Trustee | ||
Consultant (financial, accounting, and auditing matters) (since 1999); Certified Public Accountant; Partner, Arthur Andersen (independent public accounting firm) (prior to 1999); Director, Lincoln Educational Services Corporation (since 2004); Director, Symetra Financial Corporation (2010–2016); Director, PMA Capital Corporation (2004–2010). Trustee of various trusts within the John Hancock Fund Complex (since 2005). | ||
William H. Cunningham, Born: 1944 | 2006 | 195 |
Trustee | ||
Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Chairman (since 2009) and Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000); former Director, LIN Television (2009–2014). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | ||
Grace K. Fey, Born: 1946 | 2012 | 195 |
Trustee | ||
Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 37 |
Independent Trustees (continued) | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Deborah C. Jackson, Born: 1952 | 2008 | 195 |
Trustee | ||
President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women’s Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Board of Directors, Association of Independent Colleges and Universities of Massachusetts (2014-2017); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of American Student Assistance Corporation (1996–2009); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | ||
James M. Oates,† Born: 1946 | 2012 | 195 |
Trustee | ||
Managing Director, Wydown Group (financial consulting firm) (since 1994); Chairman and Director, Emerson Investment Management, Inc. (2000-2015); Independent Chairman, Hudson Castle Group, Inc. (formerly IBEX Capital Markets, Inc.) (financial services company) (1997–2011); Director, Stifel Financial (since 1996); Director, Investor Financial Services Corporation (1995–2007); Director, Connecticut River Bancorp (1998-2014); Director/Trustee, Virtus Funds (since 1988). Trustee (since 2004) and Chairperson of the Board (2005-2016) of various trusts within the John Hancock Fund Complex. | ||
Steven R. Pruchansky, Born: 1944 | 2006 | 195 |
Trustee and Vice Chairperson of the Board | ||
Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex. | ||
Frances G. Rathke,2,* Born: 1960 | 2020 | 195 |
Trustee | ||
Director, Northern New England Energy Corporation (since 2017); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director, Audit Committee Chair and Compensation Committee Member, Planet Fitness (since 2016); Director, Citizen Cider, Inc. (high-end hard cider and hard seltzer company) (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015); Independent Financial Consultant, Frances Rathke Consulting (strategic and financial consulting services) (2001-2003); Chief Financial Officer and Secretary, Ben & Jerry’s Homemade, Inc. (1989-2000, including prior positions); Senior Manager, Coopers & Lybrand, LLC (independent public accounting firm) (1982-1989). Trustee of various trusts within the John Hancock Fund Complex (since 2020). |
38 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT |
Independent Trustees (continued) | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Gregory A. Russo, Born: 1949 | 2008 | 195 |
Trustee | ||
Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018) and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002); Chairman and Treasurer,Westchester County, New York, Chamber of Commerce (1986–1992); Director, Treasurer, and Chairman of Audit and Finance Committees, Putnam Hospital Center (1989–1995); Director and Chairman of Fundraising Campaign, United Way of Westchester and Putnam Counties, New York (1990–1995). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
Non-Independent Trustees3 | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Andrew G. Arnott, Born: 1971 | 2017 | 195 |
President and Non-Independent Trustee | ||
Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | ||
Marianne Harrison, Born: 1963 | 2018 | 195 |
Non-Independent Trustee | ||
President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, CAE Inc. (since 2019); Member, Board of Directors, MA Competitive Partnership Board (since 2018); Member, Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, an industry-led innovation center that fosters technology companies in Canada (2017-2019); Member, Board of Directors, Manulife Assurance Canada (2015-2017); Board Member, St. Mary’s General Hospital Foundation (2014-2017); Member, Board of Directors, Manulife Bank of Canada (2013- 2017); Member, Standing Committee of the Canadian Life & Health Assurance Association (2013-2017); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, John Hancock New York (2012–2013). Trustee of various trusts within the John Hancock Fund Complex (since 2018). |
Principal officers who are not Trustees | |
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years | Officer of the Trust since |
Charles A. Rizzo, Born: 1957 | 2007 |
Chief Financial Officer | |
Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2008); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2007). |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 39 |
Principal officers who are not Trustees (continued) | |
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years | Officer of the Trust since |
Salvatore Schiavone, Born: 1965 | 2010 |
Treasurer | |
Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). | |
Christopher (Kit) Sechler, Born: 1973 | 2018 |
Secretary and Chief Legal Officer | |
Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2018); Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009). | |
Trevor Swanberg, Born: 1979 | 2020 |
Chief Compliance Officer | |
Chief Compliance Officer, various trusts within the John Hancock Fund Complex, John Hancock Investment Management LLC, and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, various trusts within the John Hancock Fund Complex (2018–2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, various trusts within the John Hancock Fund Complex (2016–2018); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016). |
1 | Each Trustee holds office until his or her successor is elected and qualified, or until the Trustee’s death, retirement, resignation, or removal. Mr. Boyle has served as Trustee at various times prior to the date listed in the table. |
2 | Member of the Audit Committee. |
3 | The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates. |
† | Mr. Oates retired as Trustee effective April 30, 2021. |
* | Appointed as Independent Trustee effective as of September 15, 2020. |
40 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
Charles L. Bardelis*
James R. Boyle
Peter S. Burgess
*William H. Cunningham
Grace K. Fey
Marianne Harrison†
Deborah C. Jackson
James M. Oates*,1
Frances G. Rathke*,2
Gregory A. Russo
President
Chief Financial Officer
Treasurer
Secretary and Chief Legal Officer
Chief Compliance Officer
Steven L. Pollack, CFA
You can also contact us: | ||
800-225-5291 | Regular mail: | Express mail: |
jhinvestments.com | John Hancock Signature Services, Inc. P.O. Box 219909 Kansas City, MO 64121-9909 | John Hancock Signature Services, Inc. 430 W 7th Street Suite 219909 Kansas City, MO 64105-1407 |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 41 |
GOVERNANCE FUNDS
with a heritage of financial stewardship dating back to 1862. Helping
our shareholders pursue their financial goals is at the core of everything
we do. It’s why we support the role of professional financial advice
and operate with the highest standards of conduct and integrity.
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
a diverse set of investments backed by some of the world’s best
managers, along with strong risk-adjusted returns across asset classes.
200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
MF1591706 | 363A 3/21 |
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 1 |
2 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 3 |
TOP 10 HOLDINGS AS OF 3/31/2021 (% of net assets) | |
Allianz SE | 1.8 |
AbbVie, Inc. | 1.7 |
Taiwan Semiconductor Manufacturing Company, Ltd., ADR | 1.7 |
Microsoft Corp. | 1.7 |
Nutrien, Ltd. | 1.7 |
Samsung Electronics Company, Ltd., GDR | 1.7 |
Verizon Communications, Inc. | 1.6 |
Iron Mountain, Inc. | 1.6 |
KLA Corp. | 1.6 |
IBM Corp. | 1.5 |
TOTAL | 16.6 |
Cash and cash equivalents are not included. |
TOP 10 COUNTRIES AS OF 3/31/2021 (% of net assets) | |
United States | 56.1 |
Canada | 7.9 |
Germany | 7.8 |
United Kingdom | 6.9 |
France | 5.3 |
Italy | 3.3 |
Japan | 2.7 |
Switzerland | 2.4 |
South Korea | 2.0 |
Taiwan | 1.7 |
TOTAL | 96.1 |
Cash and cash equivalents are not included. |
4 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 5 |
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | SEC 30-day yield (%) subsidized | SEC 30-day yield (%) unsubsidized† | |||||
1-year | 5-year | 10-year | 5-year | 10-year | as of 3-31-21 | as of 3-31-21 | ||
Class A | 33.26 | 5.14 | 6.38 | 28.47 | 85.55 | 2.11 | 1.95 | |
Class C | 38.22 | 5.43 | 6.15 | 30.27 | 81.67 | 1.48 | 1.36 | |
Class I1 | 40.65 | 6.49 | 7.26 | 36.96 | 101.51 | 2.34 | 2.22 | |
Class R21,2 | 40.19 | 6.10 | 6.81 | 34.43 | 93.17 | 2.06 | 1.98 | |
Class R61,2 | 40.72 | 6.61 | 7.33 | 37.74 | 102.93 | 2.57 | 2.46 | |
Class NAV1 | 40.83 | 6.61 | 7.37 | 37.70 | 103.61 | 2.55 | 2.47 | |
Index†† | 54.03 | 13.36 | 9.88 | 87.16 | 156.58 | — | — |
Class A | Class C | Class I | Class R2 | Class R6 | Class NAV | |
Gross (%) | 1.29 | 1.99 | 0.99 | 1.38 | 0.88 | 0.87 |
Net (%) | 1.09 | 1.84 | 0.84 | 1.24 | 0.74 | 0.86 |
6 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class C3 | 3-31-11 | 18,167 | 18,167 | 25,658 |
Class I1 | 3-31-11 | 20,151 | 20,151 | 25,658 |
Class R21,2 | 3-31-11 | 19,317 | 19,317 | 25,658 |
Class R61,2 | 3-31-11 | 20,293 | 20,293 | 25,658 |
Class NAV1 | 3-31-11 | 20,361 | 20,361 | 25,658 |
1 | For certain types of investors, as described in the fund's prospectuses. |
2 | Class R2 and Class R6 shares were first offered 3-1-12 and 9-1-11, respectively. The returns prior to these dates are those of Class A shares that have not been adjusted for class-specific expenses; otherwise, returns would vary. |
3 | The contingent deferred sales charge is not applicable. |
ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 7 |
8 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
Account value on 10-1-2020 | Ending value on 3-31-2021 | Expenses paid during period ended 3-31-20211 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,193.70 | $5.96 | 1.09% |
Hypothetical example | 1,000.00 | 1,019.50 | 5.49 | 1.09% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,188.90 | 10.04 | 1.84% |
Hypothetical example | 1,000.00 | 1,015.80 | 9.25 | 1.84% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,195.30 | 4.60 | 0.84% |
Hypothetical example | 1,000.00 | 1,020.70 | 4.23 | 0.84% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 1,192.80 | 6.72 | 1.23% |
Hypothetical example | 1,000.00 | 1,018.80 | 6.19 | 1.23% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,196.30 | 4.05 | 0.74% |
Hypothetical example | 1,000.00 | 1,021.20 | 3.73 | 0.74% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 1,196.10 | 4.05 | 0.74% |
Hypothetical example | 1,000.00 | 1,021.20 | 3.73 | 0.74% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/365 (to reflect the one-half year period). |
ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 9 |
Shares | Value | ||||
Common stocks 98.4% | $1,119,742,594 | ||||
(Cost $782,813,888) | |||||
Canada 7.9% | 90,024,798 | ||||
BCE, Inc. | 270,670 | 12,218,596 | |||
Fortis, Inc. | 185,555 | 8,051,495 | |||
Great-West Lifeco, Inc. | 383,756 | 10,211,507 | |||
Nutrien, Ltd. | 356,436 | 19,208,336 | |||
Restaurant Brands International, Inc. | 151,061 | 9,818,965 | |||
Rogers Communications, Inc., Class B | 133,704 | 6,165,471 | |||
Royal Bank of Canada | 153,923 | 14,191,977 | |||
TELUS Corp. (A) | 510,033 | 10,158,451 | |||
France 5.3% | 59,793,866 | ||||
AXA SA | 424,325 | 11,390,715 | |||
Danone SA | 89,727 | 6,141,661 | |||
Orange SA | 914,398 | 11,252,585 | |||
Sanofi | 144,466 | 14,285,448 | |||
TOTAL SE | 358,719 | 16,723,457 | |||
Germany 7.8% | 88,738,085 | ||||
Allianz SE | 80,875 | 20,571,043 | |||
BASF SE | 171,155 | 14,223,540 | |||
Bayer AG | 87,071 | 5,517,967 | |||
Deutsche Post AG | 233,493 | 12,809,674 | |||
Deutsche Telekom AG | 427,528 | 8,616,189 | |||
Muenchener Rueckversicherungs-Gesellschaft AG | 54,786 | 16,872,456 | |||
Siemens AG | 61,634 | 10,127,216 | |||
Ireland 0.5% | 5,624,406 | ||||
Medtronic PLC | 47,612 | 5,624,406 | |||
Italy 3.3% | 37,740,324 | ||||
Assicurazioni Generali SpA | 564,847 | 11,285,188 | |||
Snam SpA (A) | 3,093,135 | 17,148,195 | |||
Terna Rete Elettrica Nazionale SpA | 1,232,362 | 9,306,941 | |||
Japan 2.7% | 30,896,759 | ||||
Takeda Pharmaceutical Company, Ltd. | 438,400 | 15,980,632 | |||
Tokio Marine Holdings, Inc. | 181,300 | 8,628,269 | |||
Toyota Motor Corp. | 80,800 | 6,287,858 | |||
Norway 1.2% | 13,195,079 | ||||
Orkla ASA | 640,150 | 6,277,970 | |||
Telenor ASA | 392,621 | 6,917,109 |
10 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Singapore 0.6% | $6,772,213 | ||||
Singapore Exchange, Ltd. | 913,100 | 6,772,213 | |||
South Korea 2.0% | 22,296,801 | ||||
Hyundai Glovis Company, Ltd. | 19,934 | 3,321,120 | |||
Samsung Electronics Company, Ltd., GDR (B) | 10,408 | 18,975,681 | |||
Switzerland 2.4% | 27,262,893 | ||||
Nestle SA | 71,092 | 7,925,080 | |||
Novartis AG | 116,233 | 9,935,680 | |||
Roche Holding AG | 29,024 | 9,402,133 | |||
Taiwan 1.7% | 19,633,179 | ||||
Taiwan Semiconductor Manufacturing Company, Ltd., ADR | 165,989 | 19,633,179 | |||
United Kingdom 6.9% | 78,819,372 | ||||
AstraZeneca PLC, ADR (A) | 141,857 | 7,053,130 | |||
BAE Systems PLC | 2,241,962 | 15,613,264 | |||
British American Tobacco PLC | 339,921 | 12,920,621 | |||
British American Tobacco PLC, ADR | 113,812 | 4,409,077 | |||
Coca-Cola European Partners PLC | 117,666 | 6,137,459 | |||
GlaxoSmithKline PLC | 611,453 | 10,824,497 | |||
National Grid PLC | 701,132 | 8,322,884 | |||
Unilever PLC | 242,624 | 13,538,440 | |||
United States 56.1% | 638,944,819 | ||||
AbbVie, Inc. | 181,968 | 19,692,577 | |||
Altria Group, Inc. | 325,547 | 16,654,985 | |||
Ameren Corp. | 89,354 | 7,269,841 | |||
American Electric Power Company, Inc. | 102,072 | 8,645,498 | |||
American Tower Corp. | 24,784 | 5,924,863 | |||
Amgen, Inc. | 33,673 | 8,378,179 | |||
Analog Devices, Inc. | 85,440 | 13,250,035 | |||
Apple, Inc. | 85,114 | 10,396,675 | |||
AT&T, Inc. | 335,239 | 10,147,685 | |||
BlackRock, Inc. | 8,153 | 6,147,036 | |||
Broadcom, Inc. | 28,045 | 13,003,345 | |||
Chevron Corp. | 96,528 | 10,115,169 | |||
Cisco Systems, Inc. | 305,237 | 15,783,805 | |||
Dominion Energy, Inc. | 156,206 | 11,865,408 | |||
Dow, Inc. | 176,504 | 11,285,666 | |||
Duke Energy Corp. | 82,505 | 7,964,208 | |||
Eaton Corp. PLC | 73,381 | 10,147,125 | |||
Emerson Electric Company | 89,027 | 8,032,016 | |||
Entergy Corp. | 105,007 | 10,445,046 | |||
Enterprise Products Partners LP | 542,883 | 11,954,284 | |||
Evergy, Inc. | 160,996 | 9,584,092 | |||
Hanesbrands, Inc. | 392,960 | 7,729,523 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 11 |
Shares | Value | ||||
United States (continued) | |||||
Hasbro, Inc. | 114,464 | $11,002,280 | |||
IBM Corp. | 130,443 | 17,382,834 | |||
Intel Corp. | 114,297 | 7,315,008 | |||
Iron Mountain, Inc. | 479,705 | 17,753,882 | |||
Johnson & Johnson | 61,308 | 10,075,970 | |||
JPMorgan Chase & Co. | 69,787 | 10,623,675 | |||
Kimberly-Clark Corp. | 85,114 | 11,835,102 | |||
KLA Corp. | 53,683 | 17,736,863 | |||
Las Vegas Sands Corp. (C) | 96,528 | 5,865,041 | |||
Lazard, Ltd., Class A | 269,353 | 11,719,549 | |||
Leggett & Platt, Inc. | 185,882 | 8,485,513 | |||
Lockheed Martin Corp. | 20,871 | 7,711,835 | |||
LyondellBasell Industries NV, Class A | 106,938 | 11,126,899 | |||
Magellan Midstream Partners LP | 202,513 | 8,780,964 | |||
McDonald's Corp. | 31,959 | 7,163,290 | |||
Merck & Company, Inc. | 162,076 | 12,494,439 | |||
MetLife, Inc. | 279,475 | 16,989,285 | |||
Microsoft Corp. | 81,853 | 19,298,482 | |||
MSC Industrial Direct Company, Inc., Class A | 97,832 | 8,823,468 | |||
Omnicom Group, Inc. | 81,726 | 6,059,983 | |||
PepsiCo, Inc. | 47,853 | 6,768,807 | |||
Pfizer, Inc. | 295,780 | 10,716,109 | |||
Philip Morris International, Inc. | 187,624 | 16,649,754 | |||
Phillips 66 | 94,216 | 7,682,373 | |||
Raytheon Technologies Corp. | 79,995 | 6,181,214 | |||
T. Rowe Price Group, Inc. | 35,246 | 6,048,214 | |||
Target Corp. | 30,978 | 6,135,812 | |||
Texas Instruments, Inc. | 86,745 | 16,393,938 | |||
The Coca-Cola Company | 162,076 | 8,543,026 | |||
The Home Depot, Inc. | 22,329 | 6,815,927 | |||
The PNC Financial Services Group, Inc. | 44,351 | 7,779,609 | |||
The Procter & Gamble Company | 41,416 | 5,608,969 | |||
Truist Financial Corp. | 191,664 | 11,177,844 | |||
United Parcel Service, Inc., Class B | 37,502 | 6,374,965 | |||
Vail Resorts, Inc. (C) | 19,240 | 5,611,538 | |||
Verizon Communications, Inc. | 311,433 | 18,109,829 | |||
Watsco, Inc. | 32,179 | 8,390,674 | |||
WEC Energy Group, Inc. | 83,810 | 7,843,778 | |||
Welltower, Inc. | 101,138 | 7,244,515 | |||
WP Carey, Inc. | 87,712 | 6,206,501 | |||
Rights 0.0% | $3,717 | ||||
(Cost $0) | |||||
Snam SpA (Expiration Date: 4-8-21; Strike Price: EUR 4.46) (A)(C) | 3,612,234 | 3,717 | |||
12 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Yield (%) | Shares | Value | |||
Short-term investments 0.7% | $7,654,844 | ||||
(Cost $7,648,643) | |||||
Short-term funds 0.7% | 7,654,844 | ||||
John Hancock Collateral Trust (D) | 0.0470(E) | 765,110 | 7,654,844 |
Total investments (Cost $790,462,531) 99.1% | $1,127,401,155 | ||||
Other assets and liabilities, net 0.9% | 10,607,937 | ||||
Total net assets 100.0% | $1,138,009,092 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
Currency Abbreviations | |
EUR | Euro |
Security Abbreviations and Legend | |
ADR | American Depositary Receipt |
GDR | Global Depositary Receipt |
(A) | All or a portion of this security is on loan as of 3-31-21. |
(B) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
(C) | Non-income producing security. |
(D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |
(E) | The rate shown is the annualized seven-day yield as of 3-31-21. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 13 |
Assets | |
Unaffiliated investments, at value (Cost $782,813,888) including $7,604,694 of securities loaned | $1,119,746,311 |
Affiliated investments, at value (Cost $7,648,643) | 7,654,844 |
Total investments, at value (Cost $790,462,531) | 1,127,401,155 |
Cash | 11,309,915 |
Foreign currency, at value (Cost $239,962) | 239,995 |
Dividends and interest receivable | 7,085,696 |
Receivable for fund shares sold | 755,899 |
Receivable for investments sold | 5,612,269 |
Receivable for securities lending income | 5,951 |
Other assets | 103,645 |
Total assets | 1,152,514,525 |
Liabilities | |
Payable for investments purchased | 4,292,530 |
Payable for fund shares repurchased | 2,078,557 |
Payable upon return of securities loaned | 7,781,171 |
Payable to affiliates | |
Investment management fees | 32,700 |
Accounting and legal services fees | 66,024 |
Transfer agent fees | 78,968 |
Distribution and service fees | 220 |
Trustees' fees | 134 |
Other liabilities and accrued expenses | 175,129 |
Total liabilities | 14,505,433 |
Net assets | $1,138,009,092 |
Net assets consist of | |
Paid-in capital | $765,556,219 |
Total distributable earnings (loss) | 372,452,873 |
Net assets | $1,138,009,092 |
14 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Net asset value per share | |
Based on net asset value and shares outstanding - the fund has an unlimited number of shares authorized with no par value | |
Class A ($317,568,460 ÷ 26,995,435 shares)1 | $11.76 |
Class C ($29,198,998 ÷ 2,476,711 shares)1 | $11.79 |
Class I ($396,251,076 ÷ 33,554,178 shares) | $11.81 |
Class R2 ($627,431 ÷ 53,057 shares) | $11.83 |
Class R6 ($274,621,043 ÷ 23,293,560 shares) | $11.79 |
Class NAV ($119,742,084 ÷ 10,148,976 shares) | $11.80 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $12.38 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 15 |
Investment income | |
Dividends | $60,276,405 |
Securities lending | 312,152 |
Interest | 15,858 |
Less foreign taxes withheld | (2,612,066) |
Total investment income | 57,992,349 |
Expenses | |
Investment management fees | 12,747,474 |
Distribution and service fees | 1,260,568 |
Accounting and legal services fees | 250,181 |
Transfer agent fees | 1,211,824 |
Trustees' fees | 27,640 |
Custodian fees | 398,909 |
State registration fees | 136,148 |
Printing and postage | 119,899 |
Professional fees | 78,357 |
Other | 102,263 |
Total expenses | 16,333,263 |
Less expense reductions | (2,437,572) |
Net expenses | 13,895,691 |
Net investment income | 44,096,658 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | 126,445,236 |
Affiliated investments | 25,911 |
126,471,147 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | 367,802,801 |
Affiliated investments | 14,096 |
367,816,897 | |
Net realized and unrealized gain | 494,288,044 |
Increase in net assets from operations | $538,384,702 |
16 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Year ended 3-31-21 | Year ended 3-31-20 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $44,096,658 | $62,259,045 |
Net realized gain (loss) | 126,471,147 | (66,219,485) |
Change in net unrealized appreciation (depreciation) | 367,816,897 | (311,882,012) |
Increase (decrease) in net assets resulting from operations | 538,384,702 | (315,842,452) |
Distributions to shareholders | ||
From earnings | ||
Class A | (8,005,340) | (15,750,740) |
Class B1 | (5,944) | (84,788) |
Class C | (722,643) | (2,561,797) |
Class I | (17,667,353) | (39,251,704) |
Class R2 | (15,041) | (33,638) |
Class R6 | (8,126,137) | (16,610,095) |
Class NAV | (9,486,100) | (22,256,224) |
Total distributions | (44,028,558) | (96,548,986) |
From fund share transactions | (833,898,075) | (147,804,453) |
Total decrease | (339,541,931) | (560,195,891) |
Net assets | ||
Beginning of year | 1,477,551,023 | 2,037,746,914 |
End of year | $1,138,009,092 | $1,477,551,023 |
1 | Share class was redesignated during the year. Refer to Note 5 for further details. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 17 |
CLASS A SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 | 2-28-17 |
Per share operating performance | ||||||
Net asset value, beginning of period | $8.62 | $11.03 | $11.14 | $11.31 | $10.78 | $9.89 |
Net investment income2 | 0.27 | 0.33 | 0.35 | 0.04 | 0.32 | 0.27 |
Net realized and unrealized gain (loss) on investments | 3.16 | (2.21) | 0.16 | (0.16) | 0.53 | 0.92 |
Total from investment operations | 3.43 | (1.88) | 0.51 | (0.12) | 0.85 | 1.19 |
Less distributions | ||||||
From net investment income | (0.29) | (0.33) | (0.35) | (0.05) | (0.32) | (0.30) |
From net realized gain | — | (0.20) | (0.27) | — | — | — |
Total distributions | (0.29) | (0.53) | (0.62) | (0.05) | (0.32) | (0.30) |
Net asset value, end of period | $11.76 | $8.62 | $11.03 | $11.14 | $11.31 | $10.78 |
Total return (%)3,4 | 40.22 | (17.96) | 4.86 | (1.03)5 | 7.87 | 12.21 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $318 | $257 | $334 | $348 | $355 | $381 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.29 | 1.29 | 1.28 | 1.306 | 1.27 | 1.29 |
Expenses including reductions | 1.09 | 1.09 | 1.09 | 1.096 | 1.09 | 1.26 |
Net investment income | 2.58 | 2.96 | 3.18 | 3.786 | 2.85 | 2.62 |
Portfolio turnover (%) | 30 | 33 | 16 | 2 | 19 | 25 |
1 | For the one-month period ended 3-31-18. The fund changed its fiscal year end from February 28 to March 31. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Does not reflect the effect of sales charges, if any. |
5 | Not annualized. |
6 | Annualized. |
18 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS C SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 | 2-28-17 |
Per share operating performance | ||||||
Net asset value, beginning of period | $8.64 | $11.05 | $11.16 | $11.31 | $10.78 | $9.90 |
Net investment income2 | 0.19 | 0.25 | 0.27 | 0.03 | 0.24 | 0.20 |
Net realized and unrealized gain (loss) on investments | 3.17 | (2.21) | 0.16 | (0.15) | 0.52 | 0.91 |
Total from investment operations | 3.36 | (1.96) | 0.43 | (0.12) | 0.76 | 1.11 |
Less distributions | ||||||
From net investment income | (0.21) | (0.25) | (0.27) | (0.03) | (0.23) | (0.23) |
From net realized gain | — | (0.20) | (0.27) | — | — | — |
Total distributions | (0.21) | (0.45) | (0.54) | (0.03) | (0.23) | (0.23) |
Net asset value, end of period | $11.79 | $8.64 | $11.05 | $11.16 | $11.31 | $10.78 |
Total return (%)3,4 | 39.22 | (18.59) | 4.06 | (1.05)5 | 6.98 | 11.41 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $29 | $44 | $75 | $107 | $110 | $126 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.99 | 1.99 | 1.97 | 2.006 | 1.97 | 1.99 |
Expenses including reductions | 1.84 | 1.84 | 1.84 | 1.846 | 1.84 | 1.97 |
Net investment income | 1.89 | 2.27 | 2.49 | 3.036 | 2.11 | 1.92 |
Portfolio turnover (%) | 30 | 33 | 16 | 2 | 19 | 25 |
1 | For the one-month period ended 3-31-18. The fund changed its fiscal year end from February 28 to March 31. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Does not reflect the effect of sales charges, if any. |
5 | Not annualized. |
6 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 19 |
CLASS I SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 | 2-28-17 |
Per share operating performance | ||||||
Net asset value, beginning of period | $8.65 | $11.07 | $11.18 | $11.35 | $10.82 | $9.93 |
Net investment income2 | 0.29 | 0.36 | 0.38 | 0.04 | 0.36 | 0.31 |
Net realized and unrealized gain (loss) on investments | 3.18 | (2.22) | 0.16 | (0.15) | 0.51 | 0.91 |
Total from investment operations | 3.47 | (1.86) | 0.54 | (0.11) | 0.87 | 1.22 |
Less distributions | ||||||
From net investment income | (0.31) | (0.36) | (0.38) | (0.06) | (0.34) | (0.33) |
From net realized gain | — | (0.20) | (0.27) | — | — | — |
Total distributions | (0.31) | (0.56) | (0.65) | (0.06) | (0.34) | (0.33) |
Net asset value, end of period | $11.81 | $8.65 | $11.07 | $11.18 | $11.35 | $10.82 |
Total return (%)3 | 40.65 | (17.77) | 5.10 | (0.96)4 | 8.10 | 12.51 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $396 | $605 | $815 | $881 | $894 | $1,245 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.99 | 0.99 | 0.99 | 1.005 | 0.97 | 0.97 |
Expenses including reductions | 0.84 | 0.84 | 0.84 | 0.845 | 0.84 | 0.95 |
Net investment income | 2.78 | 3.22 | 3.44 | 4.035 | 3.12 | 2.91 |
Portfolio turnover (%) | 30 | 33 | 16 | 2 | 19 | 25 |
1 | For the one-month period ended 3-31-18. The fund changed its fiscal year end from February 28 to March 31. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
20 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R2 SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 | 2-28-17 |
Per share operating performance | ||||||
Net asset value, beginning of period | $8.66 | $11.08 | $11.19 | $11.35 | $10.82 | $9.93 |
Net investment income2 | 0.25 | 0.32 | 0.33 | 0.03 | 0.30 | 0.26 |
Net realized and unrealized gain (loss) on investments | 3.19 | (2.22) | 0.16 | (0.14) | 0.53 | 0.92 |
Total from investment operations | 3.44 | (1.90) | 0.49 | (0.11) | 0.83 | 1.18 |
Less distributions | ||||||
From net investment income | (0.27) | (0.32) | (0.33) | (0.05) | (0.30) | (0.29) |
From net realized gain | — | (0.20) | (0.27) | — | — | — |
Total distributions | (0.27) | (0.52) | (0.60) | (0.05) | (0.30) | (0.29) |
Net asset value, end of period | $11.83 | $8.66 | $11.08 | $11.19 | $11.35 | $10.82 |
Total return (%)3 | 40.19 | (18.10) | 4.68 | (0.98)4 | 7.68 | 12.04 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $1 | $1 | $1 | $1 | $1 | $1 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.35 | 1.34 | 1.36 | 1.385 | 1.37 | 1.36 |
Expenses including reductions | 1.23 | 1.22 | 1.22 | 1.245 | 1.24 | 1.34 |
Net investment income | 2.45 | 2.86 | 3.02 | 3.625 | 2.62 | 2.50 |
Portfolio turnover (%) | 30 | 33 | 16 | 2 | 19 | 25 |
1 | For the one-month period ended 3-31-18. The fund changed its fiscal year end from February 28 to March 31. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 21 |
CLASS R6 SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 | 2-28-17 |
Per share operating performance | ||||||
Net asset value, beginning of period | $8.64 | $11.06 | $11.16 | $11.34 | $10.81 | $9.92 |
Net investment income2 | 0.30 | 0.37 | 0.39 | 0.04 | 0.31 | 0.30 |
Net realized and unrealized gain (loss) on investments | 3.17 | (2.22) | 0.17 | (0.16) | 0.57 | 0.93 |
Total from investment operations | 3.47 | (1.85) | 0.56 | (0.12) | 0.88 | 1.23 |
Less distributions | ||||||
From net investment income | (0.32) | (0.37) | (0.39) | (0.06) | (0.35) | (0.34) |
From net realized gain | — | (0.20) | (0.27) | — | — | — |
Total distributions | (0.32) | (0.57) | (0.66) | (0.06) | (0.35) | (0.34) |
Net asset value, end of period | $11.79 | $8.64 | $11.06 | $11.16 | $11.34 | $10.81 |
Total return (%)3 | 40.72 | (17.69) | 5.31 | (1.03)4 | 8.22 | 12.66 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $275 | $245 | $351 | $477 | $483 | $2 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.88 | 0.88 | 0.88 | 0.895 | 0.87 | 0.87 |
Expenses including reductions | 0.74 | 0.74 | 0.74 | 0.745 | 0.74 | 0.85 |
Net investment income | 2.94 | 3.34 | 3.57 | 4.135 | 2.61 | 2.85 |
Portfolio turnover (%) | 30 | 33 | 16 | 2 | 19 | 25 |
1 | For the one-month period ended 3-31-18. The fund changed its fiscal year end from February 28 to March 31. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
22 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS NAV SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 | 2-28-17 |
Per share operating performance | ||||||
Net asset value, beginning of period | $8.64 | $11.06 | $11.17 | $11.34 | $10.81 | $9.92 |
Net investment income2 | 0.29 | 0.37 | 0.39 | 0.04 | 0.36 | 0.32 |
Net realized and unrealized gain (loss) on investments | 3.19 | (2.22) | 0.16 | (0.15) | 0.52 | 0.91 |
Total from investment operations | 3.48 | (1.85) | 0.55 | (0.11) | 0.88 | 1.23 |
Less distributions | ||||||
From net investment income | (0.32) | (0.37) | (0.39) | (0.06) | (0.35) | (0.34) |
From net realized gain | — | (0.20) | (0.27) | — | — | — |
Total distributions | (0.32) | (0.57) | (0.66) | (0.06) | (0.35) | (0.34) |
Net asset value, end of period | $11.80 | $8.64 | $11.06 | $11.17 | $11.34 | $10.81 |
Total return (%)3 | 40.83 | (17.77) | 5.30 | (0.94)4 | 8.11 | 12.76 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $120 | $325 | $458 | $511 | $514 | $535 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.87 | 0.87 | 0.87 | 0.885 | 0.86 | 0.86 |
Expenses including reductions | 0.74 | 0.74 | 0.74 | 0.745 | 0.74 | 0.85 |
Net investment income | 2.87 | 3.32 | 3.54 | 4.135 | 3.19 | 3.03 |
Portfolio turnover (%) | 30 | 33 | 16 | 2 | 19 | 25 |
1 | For the one-month period ended 3-31-18. The fund changed its fiscal year end from February 28 to March 31. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 23 |
24 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT |
Total value at 3-31-21 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Canada | $90,024,798 | $90,024,798 | — | — |
France | 59,793,866 | — | $59,793,866 | — |
Germany | 88,738,085 | — | 88,738,085 | — |
Ireland | 5,624,406 | 5,624,406 | — | — |
Italy | 37,740,324 | — | 37,740,324 | — |
Japan | 30,896,759 | — | 30,896,759 | — |
Norway | 13,195,079 | — | 13,195,079 | — |
Singapore | 6,772,213 | — | 6,772,213 | — |
South Korea | 22,296,801 | — | 22,296,801 | — |
Switzerland | 27,262,893 | — | 27,262,893 | — |
Taiwan | 19,633,179 | 19,633,179 | — | — |
United Kingdom | 78,819,372 | 17,599,666 | 61,219,706 | — |
United States | 638,944,819 | 638,944,819 | — | — |
Rights | 3,717 | — | 3,717 | — |
Short-term investments | 7,654,844 | 7,654,844 | — | — |
Total investments in securities | $1,127,401,155 | $779,481,712 | $347,919,443 | — |
ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 25 |
26 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT |
March 31, 2021 | March 31, 2020 | |
Ordinary income | $44,028,558 | $67,470,050 |
Long-term capital gains | — | 29,078,936 |
Total | $44,028,558 | $96,548,986 |
ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 27 |
28 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT |
Class | Expense reduction |
Class A | $582,482 |
Class B | 555 |
Class C | 56,979 |
Class I | 973,595 |
Class | Expense reduction |
Class R2 | $732 |
Class R6 | 375,075 |
Class NAV | 448,154 |
Total | $2,437,572 |
Class | Rule 12b-1 Fee | Service fee |
Class A | 0.30% | — |
Class B | 1.00% | — |
Class C | 1.00% | — |
Class R2 | 0.25% | 0.25% |
ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 29 |
Class | Distribution and service fees | Transfer agent fees |
Class A | $875,381 | $350,871 |
Class B | 3,598 | 451 |
Class C | 378,859 | 46,166 |
Class I | — | 783,273 |
Class R2 | 2,730 | 67 |
Class R6 | — | 30,996 |
Total | $1,260,568 | $1,211,824 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Borrower | $7,625,000 | 4 | 0.540% | ($458) |
30 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT |
Year Ended 3-31-21 | Year Ended 3-31-20 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 4,201,152 | $43,177,068 | 5,060,895 | $55,505,983 |
Distributions reinvested | 751,659 | 7,812,460 | 1,426,626 | 15,435,830 |
Repurchased | (7,791,441) | (80,038,962) | (6,920,446) | (74,350,835) |
Net decrease | (2,838,630) | $(29,049,434) | (432,925) | $(3,409,022) |
Class B shares | ||||
Sold | 10 | $85 | 1,022 | $13,714 |
Distributions reinvested | 587 | 5,650 | 6,585 | 73,013 |
Repurchased | (97,457) | (974,795) | (245,982) | (2,647,333) |
Net decrease | (96,860) | $(969,060) | (238,375) | $(2,560,606) |
Class C shares | ||||
Sold | 65,566 | $667,126 | 177,891 | $1,935,032 |
Distributions reinvested | 69,731 | 713,734 | 224,189 | 2,461,371 |
Repurchased | (2,755,813) | (28,402,815) | (2,136,687) | (23,207,373) |
Net decrease | (2,620,516) | $(27,021,955) | (1,734,607) | $(18,810,970) |
Class I shares | ||||
Sold | 10,347,471 | $106,008,666 | 13,847,419 | $151,299,218 |
Distributions reinvested | 1,702,358 | 17,544,070 | 3,591,473 | 38,902,359 |
Repurchased | (48,411,827) | (533,916,191) | (21,095,735) | (226,991,285) |
Net decrease | (36,361,998) | $(410,363,455) | (3,656,843) | $(36,789,708) |
Class R2 shares | ||||
Sold | 6,371 | $65,071 | 10,495 | $115,586 |
Distributions reinvested | 1,425 | 14,882 | 3,059 | 33,350 |
Repurchased | (18,289) | (184,126) | (21,581) | (243,938) |
Net decrease | (10,493) | $(104,173) | (8,027) | $(95,002) |
Class R6 shares | ||||
Sold | 4,503,509 | $46,050,096 | 5,075,379 | $54,966,937 |
Distributions reinvested | 781,802 | 8,123,971 | 1,535,978 | 16,606,455 |
Repurchased | (10,376,583) | (106,946,272) | (9,996,795) | (108,749,059) |
Net decrease | (5,091,272) | $(52,772,205) | (3,385,438) | $(37,175,667) |
ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 31 |
Year Ended 3-31-21 | Year Ended 3-31-20 | |||
Shares | Amount | Shares | Amount | |
Class NAV shares | ||||
Sold | 954,449 | $9,185,908 | 1,794,177 | $16,247,432 |
Distributions reinvested | 931,068 | 9,486,100 | 2,054,726 | 22,256,224 |
Repurchased | (29,323,493) | (332,289,801) | (7,644,056) | (87,467,134) |
Net decrease | (27,437,976) | $(313,617,793) | (3,795,153) | $(48,963,478) |
Total net decrease | (74,457,745) | $(833,898,075) | (13,251,368) | $(147,804,453) |
Redesignation | Effective date | Amount | |||||
Class B shares as Class A shares | October 14, 2020 | $465,619 |
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* | 765,110 | $31,461,673 | $656,889,672 | $(680,736,508) | $25,911 | $14,096 | $312,152 | — | $7,654,844 |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
32 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 33 |
34 | | |
ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 35 |
• | The Fund’s investment strategy remained appropriate for an open-end fund structure; |
• | The Fund was able to meet requests for redemption without significant dilution of remaining investors’ interests in the Fund; |
• | The Fund did not experience any breaches of the 15% limit on illiquid investments that would require reporting to the Securities and Exchange Commission; |
• | The Fund continued to qualify as a Primarily Highly Liquid Fund under the Liquidity Rule and therefore is not required to establish a HLIM;] and |
• | The Chief Compliance Officer’s office performed audit testing of the LRMP which resulted in an assessment that the LRMP’s control environment was deemed to be operating effectively and in compliance with the Board approved procedures. |
36 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 37 |
Independent Trustees | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Hassell H. McClellan, Born: 1945 | 2012 | 195 |
Trustee and Chairperson of the Board | ||
Director/Trustee, Virtus Funds (since 2008); Director, The Barnes Group (since 2010); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. | ||
Charles L. Bardelis,2 Born: 1941 | 2012 | 195 |
Trustee | ||
Director, Island Commuter Corp. (marine transport). Trustee of various trusts within the John Hancock Fund Complex (since 1988). | ||
James R. Boyle, Born: 1959 | 2015 | 195 |
Trustee | ||
Chief Executive Officer, Foresters Financial (since 2018); Chairman and Chief Executive Officer, Zillion Group, Inc. (formerly HealthFleet, Inc.) (healthcare) (2014-2018); Executive Vice President and Chief Executive Officer, U.S. Life Insurance Division of Genworth Financial, Inc. (insurance) (January 2014–July 2014); Senior Executive Vice President, Manulife Financial, President and Chief Executive Officer, John Hancock (1999–2012); Chairman and Director, John Hancock Investment Management LLC, John Hancock Investment Management Distributors LLC, and John Hancock Variable Trust Advisers LLC (2005–2010). Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). | ||
Peter S. Burgess,2 Born: 1942 | 2012 | 195 |
Trustee | ||
Consultant (financial, accounting, and auditing matters) (since 1999); Certified Public Accountant; Partner, Arthur Andersen (independent public accounting firm) (prior to 1999); Director, Lincoln Educational Services Corporation (since 2004); Director, Symetra Financial Corporation (2010–2016); Director, PMA Capital Corporation (2004–2010). Trustee of various trusts within the John Hancock Fund Complex (since 2005). | ||
William H. Cunningham, Born: 1944 | 2006 | 195 |
Trustee | ||
Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Chairman (since 2009) and Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000); former Director, LIN Television (2009–2014). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | ||
Grace K. Fey, Born: 1946 | 2012 | 195 |
Trustee | ||
Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
38 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
Independent Trustees (continued) | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Deborah C. Jackson, Born: 1952 | 2008 | 195 |
Trustee | ||
President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women’s Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Board of Directors, Association of Independent Colleges and Universities of Massachusetts (2014-2017); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of American Student Assistance Corporation (1996–2009); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | ||
James M. Oates,† Born: 1946 | 2012 | 195 |
Trustee | ||
Managing Director, Wydown Group (financial consulting firm) (since 1994); Chairman and Director, Emerson Investment Management, Inc. (2000-2015); Independent Chairman, Hudson Castle Group, Inc. (formerly IBEX Capital Markets, Inc.) (financial services company) (1997–2011); Director, Stifel Financial (since 1996); Director, Investor Financial Services Corporation (1995–2007); Director, Connecticut River Bancorp (1998-2014); Director/Trustee, Virtus Funds (since 1988). Trustee (since 2004) and Chairperson of the Board (2005-2016) of various trusts within the John Hancock Fund Complex. | ||
Steven R. Pruchansky, Born: 1944 | 2006 | 195 |
Trustee and Vice Chairperson of the Board | ||
Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex. | ||
Frances G. Rathke,2,* Born: 1960 | 2020 | 195 |
Trustee | ||
Director, Northern New England Energy Corporation (since 2017); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director, Audit Committee Chair and Compensation Committee Member, Planet Fitness (since 2016); Director, Citizen Cider, Inc. (high-end hard cider and hard seltzer company) (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015); Independent Financial Consultant, Frances Rathke Consulting (strategic and financial consulting services) (2001-2003); Chief Financial Officer and Secretary, Ben & Jerry’s Homemade, Inc. (1989-2000, including prior positions); Senior Manager, Coopers & Lybrand, LLC (independent public accounting firm) (1982-1989). Trustee of various trusts within the John Hancock Fund Complex (since 2020). |
ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 39 |
Independent Trustees (continued) | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Gregory A. Russo, Born: 1949 | 2008 | 195 |
Trustee | ||
Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018) and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002); Chairman and Treasurer,Westchester County, New York, Chamber of Commerce (1986–1992); Director, Treasurer, and Chairman of Audit and Finance Committees, Putnam Hospital Center (1989–1995); Director and Chairman of Fundraising Campaign, United Way of Westchester and Putnam Counties, New York (1990–1995). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
Non-Independent Trustees3 | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Andrew G. Arnott, Born: 1971 | 2017 | 195 |
President and Non-Independent Trustee | ||
Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | ||
Marianne Harrison, Born: 1963 | 2018 | 195 |
Non-Independent Trustee | ||
President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, CAE Inc. (since 2019); Member, Board of Directors, MA Competitive Partnership Board (since 2018); Member, Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, an industry-led innovation center that fosters technology companies in Canada (2017-2019); Member, Board of Directors, Manulife Assurance Canada (2015-2017); Board Member, St. Mary’s General Hospital Foundation (2014-2017); Member, Board of Directors, Manulife Bank of Canada (2013- 2017); Member, Standing Committee of the Canadian Life & Health Assurance Association (2013-2017); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, John Hancock New York (2012–2013). Trustee of various trusts within the John Hancock Fund Complex (since 2018). |
Principal officers who are not Trustees | |
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years | Officer of the Trust since |
Charles A. Rizzo, Born: 1957 | 2007 |
Chief Financial Officer | |
Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2008); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2007). |
40 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
Principal officers who are not Trustees (continued) | |
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years | Officer of the Trust since |
Salvatore Schiavone, Born: 1965 | 2010 |
Treasurer | |
Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). | |
Christopher (Kit) Sechler, Born: 1973 | 2018 |
Secretary and Chief Legal Officer | |
Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2018); Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009). | |
Trevor Swanberg, Born: 1979 | 2020 |
Chief Compliance Officer | |
Chief Compliance Officer, various trusts within the John Hancock Fund Complex, John Hancock Investment Management LLC, and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, various trusts within the John Hancock Fund Complex (2018–2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, various trusts within the John Hancock Fund Complex (2016–2018); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016). |
1 | Each Trustee holds office until his or her successor is elected and qualified, or until the Trustee’s death, retirement, resignation, or removal. Mr. Boyle has served as Trustee at various times prior to the date listed in the table. |
2 | Member of the Audit Committee. |
3 | The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates. |
† | Mr. Oates retired as Trustee effective April 30, 2021. |
* | Appointed as Independent Trustee effective as of September 15, 2020. |
ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 41 |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
Charles L. Bardelis*
James R. Boyle
Peter S. Burgess
*William H. Cunningham
Grace K. Fey
Marianne Harrison†
Deborah C. Jackson
James M. Oates*,1
Frances G. Rathke*,2
Gregory A. Russo
President
Chief Financial Officer
Treasurer
Secretary and Chief Legal Officer
Chief Compliance Officer
John M. Tobin, Ph.D., CFA
Kera Van Valen, CFA
Michael A.Welhoelter, CFA
You can also contact us: | ||
800-225-5291 | Regular mail: | Express mail: |
jhinvestments.com | John Hancock Signature Services, Inc. P.O. Box 219909 Kansas City, MO 64121-9909 | John Hancock Signature Services, Inc. 430 W 7th Street Suite 219909 Kansas City, MO 64105-1407 |
42 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
GOVERNANCE FUNDS
with a heritage of financial stewardship dating back to 1862. Helping
our shareholders pursue their financial goals is at the core of everything
we do. It’s why we support the role of professional financial advice
and operate with the highest standards of conduct and integrity.
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
a diverse set of investments backed by some of the world’s best
managers, along with strong risk-adjusted returns across asset classes.
200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
MF1591713 | 320A 3/21 |
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 1 |
2 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 3 |
TOP 10 HOLDINGS AS OF 3/31/2021 (% of net assets) | |
Taiwan Semiconductor Manufacturing Company, Ltd. | 6.0 |
Tencent Holdings, Ltd. | 5.3 |
Alibaba Group Holding, Ltd., ADR | 4.6 |
ASML Holding NV | 3.2 |
Recruit Holdings Company, Ltd. | 2.7 |
LVMH Moet Hennessy Louis Vuitton SE | 2.5 |
AstraZeneca PLC | 2.4 |
Partners Group Holding AG | 2.3 |
DSV Panalpina A/S | 2.2 |
AIA Group, Ltd. | 2.1 |
TOTAL | 33.3 |
Cash and cash equivalents are not included. |
TOP 10 COUNTRIES AS OF 3/31/2021 (% of net assets) | |
China | 21.1 |
France | 10.9 |
Taiwan | 9.8 |
United Kingdom | 7.6 |
Netherlands | 7.5 |
Japan | 7.0 |
Switzerland | 5.6 |
Sweden | 5.6 |
Denmark | 4.3 |
Ireland | 3.8 |
TOTAL | 83.2 |
Cash and cash equivalents are not included. |
4 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 5 |
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | ||||
1-year | 5-year | 10-year | 5-year | 10-year | |
Class A | 46.42 | 12.19 | 9.41 | 77.73 | 145.82 |
Class C | 52.06 | 12.56 | 9.18 | 80.66 | 140.77 |
Class I1 | 54.62 | 13.69 | 10.33 | 89.95 | 167.23 |
Class R21,2 | 54.02 | 13.25 | 9.90 | 86.30 | 157.12 |
Class R41,2 | 54.46 | 13.53 | 10.07 | 88.63 | 161.10 |
Class R61,2 | 54.79 | 13.82 | 10.25 | 91.01 | 165.39 |
Class 11 | 54.68 | 13.77 | 10.41 | 90.59 | 169.11 |
Class NAV1,2 | 54.78 | 13.83 | 10.24 | 91.09 | 165.06 |
Index 1† | 49.36 | 12.03 | 6.69 | 76.47 | 91.08 |
Index 2† | 44.57 | 8.85 | 5.52 | 52.79 | 71.15 |
Class A | Class C | Class I | Class R2 | Class R4 | Class R6 | Class 1 | Class NAV | |
Gross (%) | 1.30 | 2.00 | 1.00 | 1.39 | 1.24 | 0.89 | 0.93 | 0.88 |
Net (%) | 1.29 | 1.99 | 0.99 | 1.38 | 1.13 | 0.88 | 0.92 | 0.87 |
6 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
Start date | With maximum sales charge ($) | Without sales charge ($) | Index 1 ($) | Index 2 ($) | |
Class C3 | 3-31-11 | 24,077 | 24,077 | 19,108 | 17,115 |
Class I1 | 3-31-11 | 26,723 | 26,723 | 19,108 | 17,115 |
Class R21,2 | 3-31-11 | 25,712 | 25,712 | 19,108 | 17,115 |
Class R41,2 | 3-31-11 | 26,110 | 26,110 | 19,108 | 17,115 |
Class R61,2 | 3-31-11 | 26,539 | 26,539 | 19,108 | 17,115 |
Class 11 | 3-31-11 | 26,911 | 26,911 | 19,108 | 17,115 |
Class NAV1,2 | 3-31-11 | 26,506 | 26,506 | 19,108 | 17,115 |
1 | For certain types of investors, as described in the fund's prospectuses. |
2 | Class R2, Class R4, and Class R6 shares were first offered on 3-27-15. Class NAV shares were first offered on 6-2-15. The returns prior to these dates are those of Class A shares that have not been adjusted for class-specific expenses; otherwise, returns would vary. |
3 | The contingent deferred sales charge is not applicable. |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 7 |
8 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
Account value on 10-1-2020 | Ending value on 3-31-2021 | Expenses paid during period ended 3-31-20211 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,159.10 | $6.89 | 1.28% |
Hypothetical example | 1,000.00 | 1,018.50 | 6.44 | 1.28% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,155.20 | 10.64 | 1.98% |
Hypothetical example | 1,000.00 | 1,015.10 | 9.95 | 1.98% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,161.00 | 5.28 | 0.98% |
Hypothetical example | 1,000.00 | 1,020.00 | 4.94 | 0.98% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 1,158.70 | 7.37 | 1.37% |
Hypothetical example | 1,000.00 | 1,018.10 | 6.89 | 1.37% | |
Class R4 | Actual expenses/actual returns | 1,000.00 | 1,160.50 | 5.93 | 1.10% |
Hypothetical example | 1,000.00 | 1,019.40 | 5.54 | 1.10% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,161.80 | 4.74 | 0.88% |
Hypothetical example | 1,000.00 | 1,020.50 | 4.43 | 0.88% | |
Class 1 | Actual expenses/actual returns | 1,000.00 | 1,161.40 | 4.90 | 0.91% |
Hypothetical example | 1,000.00 | 1,020.40 | 4.58 | 0.91% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 1,161.80 | 4.64 | 0.86% |
Hypothetical example | 1,000.00 | 1,020.60 | 4.33 | 0.86% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/365 (to reflect the one-half year period). |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 9 |
Shares | Value | ||||
Common stocks 99.0% | $12,615,404,099 | ||||
(Cost $8,828,010,854) | |||||
Australia 1.4% | 184,354,368 | ||||
Goodman Group | 13,350,948 | 184,354,368 | |||
Brazil 0.4% | 45,053,696 | ||||
StoneCo, Ltd., Class A (A) | 735,931 | 45,053,696 | |||
Canada 1.6% | 205,615,075 | ||||
Dollarama, Inc. | 4,654,115 | 205,615,075 | |||
China 21.1% | 2,689,192,840 | ||||
Alibaba Group Holding, Ltd., ADR (A) | 2,588,246 | 586,833,016 | |||
ANTA Sports Products, Ltd. | 11,746,759 | 192,668,888 | |||
China Resources Mixc Lifestyle Services, Ltd. (A)(B) | 12,410,800 | 74,415,738 | |||
China Tourism Group Duty Free Corp., Ltd., Class A | 2,740,225 | 128,565,804 | |||
Huazhu Group, Ltd., ADR (A) | 3,679,738 | 202,017,616 | |||
Li Ning Company, Ltd. | 28,126,159 | 184,000,890 | |||
Longfor Group Holdings, Ltd. (B) | 25,761,886 | 170,868,471 | |||
Offcn Education Technology Company, Ltd., Class A | 23,108,564 | 99,726,240 | |||
Smoore International Holdings, Ltd. (A)(B) | 16,963,827 | 104,336,014 | |||
TAL Education Group, ADR (A) | 2,796,708 | 150,602,726 | |||
Tencent Holdings, Ltd. | 8,424,369 | 672,328,294 | |||
Trip.com Group, Ltd., ADR (A) | 3,099,398 | 122,829,143 | |||
Denmark 4.3% | 543,182,417 | ||||
DSV Panalpina A/S | 1,418,565 | 278,242,499 | |||
Novo Nordisk A/S, B Shares | 3,931,814 | 264,939,918 | |||
France 10.9% | 1,394,800,890 | ||||
Airbus SE (A) | 1,866,473 | 211,691,190 | |||
Edenred (C) | 4,285,580 | 223,767,309 | |||
LVMH Moet Hennessy Louis Vuitton SE | 469,948 | 313,903,632 | |||
Safran SA | 1,834,138 | 249,494,120 | |||
Schneider Electric SE | 1,041,329 | 158,631,592 | |||
Worldline SA (A)(B) | 2,834,699 | 237,313,047 | |||
Germany 1.6% | 207,826,814 | ||||
Brenntag SE | 2,432,737 | 207,826,814 | |||
Hong Kong 2.1% | 270,249,028 | ||||
AIA Group, Ltd. | 22,084,996 | 270,249,028 | |||
India 3.4% | 438,088,347 | ||||
Eicher Motors, Ltd. (A) | 1,872,010 | 66,882,155 | |||
Housing Development Finance Corp., Ltd. | 5,262,501 | 181,246,812 | |||
Infosys, Ltd. | 10,129,052 | 189,959,380 |
10 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Ireland 3.8% | $480,179,052 | ||||
Accenture PLC, Class A | 570,455 | 157,588,194 | |||
Flutter Entertainment PLC (A) | 859,139 | 183,556,971 | |||
ICON PLC (A) | 708,020 | 139,033,887 | |||
Italy 1.2% | 153,998,720 | ||||
Nexi SpA (A)(B)(C) | 8,826,500 | 153,998,720 | |||
Japan 7.0% | 892,341,798 | ||||
Bandai Namco Holdings, Inc. | 1,802,700 | 128,870,410 | |||
Hoya Corp. | 1,736,100 | 204,333,466 | |||
Recruit Holdings Company, Ltd. | 6,883,800 | 338,037,356 | |||
Sony Corp. | 765,000 | 80,962,607 | |||
Sushiro Global Holdings, Ltd. | 3,160,800 | 140,137,959 | |||
Netherlands 7.5% | 955,595,699 | ||||
ASM International NV | 606,423 | 175,829,010 | |||
ASML Holding NV (C) | 676,403 | 415,021,562 | |||
NXP Semiconductors NV | 1,057,523 | 212,921,681 | |||
Wolters Kluwer NV | 1,748,007 | 151,823,446 | |||
Singapore 1.4% | 182,022,401 | ||||
DBS Group Holdings, Ltd. | 8,489,300 | 182,022,401 | |||
Spain 1.6% | 203,566,388 | ||||
Cellnex Telecom SA (A)(B) | 3,531,171 | 203,566,388 | |||
Sweden 5.6% | 707,115,680 | ||||
EQT AB (C) | 4,993,177 | 164,394,142 | |||
Sandvik AB (A) | 6,370,135 | 174,299,072 | |||
Swedish Match AB | 2,545,687 | 198,592,060 | |||
Volvo AB, B Shares (A)(C) | 6,706,031 | 169,830,406 | |||
Switzerland 5.6% | 713,890,139 | ||||
Julius Baer Group, Ltd. | 3,313,748 | 211,760,011 | |||
Kuehne + Nagel International AG | 734,368 | 209,754,749 | |||
Partners Group Holding AG | 228,789 | 292,375,379 | |||
Taiwan 9.8% | 1,250,316,100 | ||||
Accton Technology Corp. | 22,982,000 | 223,434,519 | |||
MediaTek, Inc. | 7,755,364 | 266,759,837 | |||
Taiwan Semiconductor Manufacturing Company, Ltd. | 36,094,501 | 760,121,744 | |||
Thailand 1.1% | 134,268,544 | ||||
Kasikornbank PCL | 28,703,655 | 134,268,544 | |||
United Kingdom 7.6% | 963,746,103 | ||||
AstraZeneca PLC | 3,129,585 | 312,361,045 | |||
B&M European Value Retail SA | 23,238,387 | 169,073,016 | |||
IHS Markit, Ltd. | 1,917,558 | 185,581,263 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 11 |
Shares | Value | ||||
United Kingdom (continued) | |||||
Intermediate Capital Group PLC | 5,341,659 | $135,621,986 | |||
Prudential PLC | 7,562,851 | 161,108,793 | |||
Yield (%) | Shares | Value | |||
Short-term investments 2.4% | $310,173,255 | ||||
(Cost $310,173,931) | |||||
Short-term funds 1.5% | 190,573,255 | ||||
John Hancock Collateral Trust (D) | 0.0470(E) | 19,047,992 | 190,573,255 |
Par value^ | Value | ||||
Repurchase agreement 0.9% | 119,600,000 | ||||
Bank of America Corp. Tri-Party Repurchase Agreement dated 3-31-21 at 0.010% to be repurchased at $60,000,017 on 4-1-21, collateralized by $56,675,717 Government National Mortgage Association, 2.500% - 5.000% due 11-20-49 to 2-20-51 (valued at $61,200,001) | 60,000,000 | 60,000,000 | |||
Societe Generale SA Tri-Party Repurchase Agreement dated 3-31-21 at 0.005% to be repurchased at $59,600,008 on 4-1-21, collateralized by $11,725,193 Federal National Mortgage Association, 1.716% - 4.500% due 11-1-26 to 3-1-49 (valued at $13,239,829), $26,831,200 U.S. Treasury Bills, 0.000% due 4-22-21 to 2-24-22 (valued at $26,826,192), $5,609,400 U.S. Treasury Bonds, 1.375% due 8-15-50 (valued at $4,396,991) and $15,712,900 U.S. Treasury Notes, 0.375% - 2.750% due 1-15-23 to 9-30-27 (valued at $16,328,993) | 59,600,000 | 59,600,000 |
Total investments (Cost $9,138,184,785) 101.4% | $12,925,577,354 | ||||
Other assets and liabilities, net (1.4%) | (176,589,872) | ||||
Total net assets 100.0% | $12,748,987,482 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
^All par values are denominated in U.S. dollars unless otherwise indicated. | |
Security Abbreviations and Legend | |
ADR | American Depositary Receipt |
(A) | Non-income producing security. |
(B) | 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. |
(C) | All or a portion of this security is on loan as of 3-31-21. |
(D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |
(E) | The rate shown is the annualized seven-day yield as of 3-31-21. |
12 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Assets | |
Unaffiliated investments, at value (Cost $8,947,610,854) including $181,262,166 of securities loaned | $12,735,004,099 |
Affiliated investments, at value (Cost $190,573,931) | 190,573,255 |
Total investments, at value (Cost $9,138,184,785) | 12,925,577,354 |
Cash | 98,512 |
Foreign currency, at value (Cost $3,571,464) | 3,578,139 |
Dividends and interest receivable | 22,042,686 |
Receivable for fund shares sold | 31,084,538 |
Receivable for investments sold | 62,431,713 |
Receivable for securities lending income | 7,146 |
Other assets | 281,047 |
Total assets | 13,045,101,135 |
Liabilities | |
Foreign capital gains tax payable | 8,362,266 |
Payable for investments purchased | 81,103,719 |
Payable for fund shares repurchased | 13,329,711 |
Payable upon return of securities loaned | 190,576,197 |
Payable to affiliates | |
Accounting and legal services fees | 568,166 |
Transfer agent fees | 859,781 |
Distribution and service fees | 31,031 |
Trustees' fees | 5,683 |
Other liabilities and accrued expenses | 1,277,099 |
Total liabilities | 296,113,653 |
Net assets | $12,748,987,482 |
Net assets consist of | |
Paid-in capital | $8,256,374,897 |
Total distributable earnings (loss) | 4,492,612,585 |
Net assets | $12,748,987,482 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 13 |
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 ($669,926,653 ÷ 17,685,654 shares)1 | $37.88 |
Class C ($223,973,587 ÷ 6,089,010 shares)1 | $36.78 |
Class I ($8,175,820,358 ÷ 215,157,783 shares) | $38.00 |
Class R2 ($49,969,041 ÷ 1,318,782 shares) | $37.89 |
Class R4 ($48,563,382 ÷ 1,278,808 shares) | $37.98 |
Class R6 ($2,441,247,329 ÷ 64,181,836 shares) | $38.04 |
Class 1 ($82,513,148 ÷ 2,172,350 shares) | $37.98 |
Class NAV ($1,056,973,984 ÷ 27,825,647 shares) | $37.99 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $39.87 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
14 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Investment income | |
Dividends | $134,824,076 |
Securities lending | 903,291 |
Interest | 92,322 |
Less foreign taxes withheld | (15,508,670) |
Total investment income | 120,311,019 |
Expenses | |
Investment management fees | 85,920,852 |
Distribution and service fees | 4,123,167 |
Accounting and legal services fees | 1,771,246 |
Transfer agent fees | 9,170,635 |
Trustees' fees | 176,823 |
Custodian fees | 3,748,046 |
State registration fees | 191,047 |
Printing and postage | 428,314 |
Professional fees | 251,890 |
Other | 339,949 |
Total expenses | 106,121,969 |
Less expense reductions | (821,884) |
Net expenses | 105,300,085 |
Net investment income | 15,010,934 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | 1,176,088,811 |
Affiliated investments | 39,389 |
1,176,128,200 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | 3,083,966,115 |
Affiliated investments | (1,278) |
3,083,964,837 | |
Net realized and unrealized gain | 4,260,093,037 |
Increase in net assets from operations | $4,275,103,971 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 15 |
Year ended 3-31-21 | Year ended 3-31-20 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $15,010,934 | $68,354,617 |
Net realized gain (loss) | 1,176,128,200 | (55,580,903) |
Change in net unrealized appreciation (depreciation) | 3,083,964,837 | (639,220,464) |
Increase (decrease) in net assets resulting from operations | 4,275,103,971 | (626,446,750) |
Distributions to shareholders | ||
From earnings | ||
Class A | — | (2,418,886) |
Class I | (16,083,934) | (39,918,280) |
Class R2 | — | (119,573) |
Class R4 | (13,891) | (54,100) |
Class R6 | (6,627,242) | (14,116,540) |
Class 1 | (221,773) | (571,277) |
Class NAV | (3,455,885) | (8,104,635) |
Total distributions | (26,402,725) | (65,303,291) |
From fund share transactions | 801,844,792 | (1,050,898,927) |
Total increase (decrease) | 5,050,546,038 | (1,742,648,968) |
Net assets | ||
Beginning of year | 7,698,441,444 | 9,441,090,412 |
End of year | $12,748,987,482 | $7,698,441,444 |
16 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS A SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 | 2-28-17 |
Per share operating performance | ||||||
Net asset value, beginning of period | $24.58 | $26.79 | $28.52 | $28.43 | $21.69 | $19.90 |
Net investment income (loss)2 | (0.04) | 0.13 | 0.19 | 0.02 | 0.11 | 0.17 |
Net realized and unrealized gain (loss) on investments | 13.34 | (2.22) | (1.31) | 0.07 | 6.69 | 1.75 |
Total from investment operations | 13.30 | (2.09) | (1.12) | 0.09 | 6.80 | 1.92 |
Less distributions | ||||||
From net investment income | — | (0.12) | (0.15) | — | (0.06) | (0.13) |
From net realized gain | — | — | (0.46) | — | — | — |
Total distributions | — | (0.12) | (0.61) | — | (0.06) | (0.13) |
Net asset value, end of period | $37.88 | $24.58 | $26.79 | $28.52 | $28.43 | $21.69 |
Total return (%)3,4 | 54.11 | (7.87) | (3.69) | 0.325 | 31.38 | 9.62 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $670 | $456 | $609 | $827 | $803 | $427 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.29 | 1.30 | 1.28 | 1.296 | 1.29 | 1.32 |
Expenses including reductions | 1.28 | 1.29 | 1.28 | 1.286 | 1.28 | 1.32 |
Net investment income (loss) | (0.14) | 0.45 | 0.72 | 0.696 | 0.41 | 0.79 |
Portfolio turnover (%) | 78 | 80 | 98 | 4 | 65 | 94 |
1 | For the one-month period ended 3-31-18. The fund changed its fiscal year end from February 28 to March 31. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Does not reflect the effect of sales charges, if any. |
5 | Not annualized. |
6 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 17 |
CLASS C SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 | 2-28-17 |
Per share operating performance | ||||||
Net asset value, beginning of period | $24.03 | $26.27 | $28.00 | $27.93 | $21.40 | $19.66 |
Net investment income (loss)2 | (0.26) | (0.06) | —3 | —3 | (0.09) | 0.01 |
Net realized and unrealized gain (loss) on investments | 13.01 | (2.18) | (1.27) | 0.07 | 6.62 | 1.73 |
Total from investment operations | 12.75 | (2.24) | (1.27) | 0.07 | 6.53 | 1.74 |
Less distributions | ||||||
From net investment income | — | — | — | — | — | — |
From net realized gain | — | — | (0.46) | — | — | — |
Total distributions | — | — | (0.46) | — | — | — |
Net asset value, end of period | $36.78 | $24.03 | $26.27 | $28.00 | $27.93 | $21.40 |
Total return (%)4,5 | 53.06 | (8.53) | (4.37) | 0.256 | 30.51 | 8.85 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $224 | $181 | $263 | $349 | $333 | $145 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.99 | 2.00 | 1.98 | 1.997 | 1.99 | 2.03 |
Expenses including reductions | 1.98 | 1.99 | 1.98 | 1.987 | 1.98 | 2.02 |
Net investment income (loss) | (0.81) | (0.24) | (0.01) | (0.01)7 | (0.33) | 0.03 |
Portfolio turnover (%) | 78 | 80 | 98 | 4 | 65 | 94 |
1 | For the one-month period ended 3-31-18. The fund changed its fiscal year end from February 28 to March 31. |
2 | Based on average daily shares outstanding. |
3 | Less than $0.005 per share. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Does not reflect the effect of sales charges, if any. |
6 | Not annualized. |
7 | Annualized. |
18 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS I SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 | 2-28-17 |
Per share operating performance | ||||||
Net asset value, beginning of period | $24.63 | $26.84 | $28.59 | $28.49 | $21.72 | $19.94 |
Net investment income2 | 0.05 | 0.21 | 0.24 | 0.02 | 0.18 | 0.20 |
Net realized and unrealized gain (loss) on investments | 13.40 | (2.22) | (1.30) | 0.08 | 6.72 | 1.77 |
Total from investment operations | 13.45 | (2.01) | (1.06) | 0.10 | 6.90 | 1.97 |
Less distributions | ||||||
From net investment income | (0.08) | (0.20) | (0.23) | — | (0.13) | (0.19) |
From net realized gain | — | — | (0.46) | — | — | — |
Total distributions | (0.08) | (0.20) | (0.69) | — | (0.13) | (0.19) |
Net asset value, end of period | $38.00 | $24.63 | $26.84 | $28.59 | $28.49 | $21.72 |
Total return (%)3 | 54.62 | (7.61) | (3.45) | 0.354 | 31.82 | 9.96 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $8,176 | $4,677 | $5,576 | $5,631 | $5,424 | $2,380 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.99 | 1.00 | 1.00 | 1.005 | 0.99 | 1.02 |
Expenses including reductions | 0.98 | 0.99 | 0.99 | 0.995 | 0.98 | 1.01 |
Net investment income | 0.14 | 0.74 | 0.89 | 0.985 | 0.70 | 0.94 |
Portfolio turnover (%) | 78 | 80 | 98 | 4 | 65 | 94 |
1 | For the one-month period ended 3-31-18. The fund changed its fiscal year end from February 28 to March 31. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 19 |
CLASS R2 SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 | 2-28-17 |
Per share operating performance | ||||||
Net asset value, beginning of period | $24.60 | $26.82 | $28.55 | $28.45 | $21.71 | $19.92 |
Net investment income (loss)2 | (0.08) | 0.12 | 0.15 | 0.02 | 0.13 | (0.02) |
Net realized and unrealized gain (loss) on investments | 13.37 | (2.25) | (1.30) | 0.08 | 6.65 | 1.91 |
Total from investment operations | 13.29 | (2.13) | (1.15) | 0.10 | 6.78 | 1.89 |
Less distributions | ||||||
From net investment income | — | (0.09) | (0.12) | — | (0.04) | (0.10) |
From net realized gain | — | — | (0.46) | — | — | — |
Total distributions | — | (0.09) | (0.58) | — | (0.04) | (0.10) |
Net asset value, end of period | $37.89 | $24.60 | $26.82 | $28.55 | $28.45 | $21.71 |
Total return (%)3 | 54.02 | (7.98) | (3.81) | 0.354 | 31.23 | 9.54 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $50 | $30 | $43 | $43 | $37 | $12 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.38 | 1.39 | 1.38 | 1.325 | 1.40 | 1.42 |
Expenses including reductions | 1.37 | 1.38 | 1.37 | 1.315 | 1.39 | 1.42 |
Net investment income (loss) | (0.23) | 0.41 | 0.54 | 0.715 | 0.49 | (0.08) |
Portfolio turnover (%) | 78 | 80 | 98 | 4 | 65 | 94 |
1 | For the one-month period ended 3-31-18. The fund changed its fiscal year end from February 28 to March 31. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
20 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R4 SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 | 2-28-17 |
Per share operating performance | ||||||
Net asset value, beginning of period | $24.62 | $26.84 | $28.57 | $28.48 | $21.72 | $19.94 |
Net investment income (loss)2 | (0.05) | 0.16 | 0.22 | 0.02 | 0.17 | 0.19 |
Net realized and unrealized gain (loss) on investments | 13.46 | (2.22) | (1.30) | 0.07 | 6.69 | 1.75 |
Total from investment operations | 13.41 | (2.06) | (1.08) | 0.09 | 6.86 | 1.94 |
Less distributions | ||||||
From net investment income | (0.05) | (0.16) | (0.19) | — | (0.10) | (0.16) |
From net realized gain | — | — | (0.46) | — | — | — |
Total distributions | (0.05) | (0.16) | (0.65) | — | (0.10) | (0.16) |
Net asset value, end of period | $37.98 | $24.62 | $26.84 | $28.57 | $28.48 | $21.72 |
Total return (%)3 | 54.46 | (7.77) | (3.53) | 0.324 | 31.60 | 9.81 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $49 | $7 | $8 | $8 | $9 | $5 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.21 | 1.24 | 1.24 | 1.255 | 1.24 | 1.25 |
Expenses including reductions | 1.10 | 1.13 | 1.13 | 1.145 | 1.13 | 1.14 |
Net investment income (loss) | (0.13) | 0.58 | 0.80 | 0.835 | 0.64 | 0.88 |
Portfolio turnover (%) | 78 | 80 | 98 | 4 | 65 | 94 |
1 | For the one-month period ended 3-31-18. The fund changed its fiscal year end from February 28 to March 31. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 21 |
CLASS R6 SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 | 2-28-17 |
Per share operating performance | ||||||
Net asset value, beginning of period | $24.65 | $26.86 | $28.61 | $28.50 | $21.73 | $19.95 |
Net investment income2 | 0.08 | 0.24 | 0.27 | 0.03 | 0.05 | 0.20 |
Net realized and unrealized gain (loss) on investments | 13.42 | (2.22) | (1.30) | 0.08 | 6.88 | 1.79 |
Total from investment operations | 13.50 | (1.98) | (1.03) | 0.11 | 6.93 | 1.99 |
Less distributions | ||||||
From net investment income | (0.11) | (0.23) | (0.26) | — | (0.16) | (0.21) |
From net realized gain | — | — | (0.46) | — | — | — |
Total distributions | (0.11) | (0.23) | (0.72) | — | (0.16) | (0.21) |
Net asset value, end of period | $38.04 | $24.65 | $26.86 | $28.61 | $28.50 | $21.73 |
Total return (%)3 | 54.79 | (7.52) | (3.32) | 0.394 | 31.91 | 10.08 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $2,441 | $1,434 | $1,836 | $1,795 | $1,702 | $18 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.88 | 0.89 | 0.89 | 0.895 | 0.90 | 0.93 |
Expenses including reductions | 0.88 | 0.88 | 0.88 | 0.885 | 0.89 | 0.90 |
Net investment income | 0.25 | 0.85 | 1.01 | 1.095 | 0.16 | 0.95 |
Portfolio turnover (%) | 78 | 80 | 98 | 4 | 65 | 94 |
1 | For the one-month period ended 3-31-18. The fund changed its fiscal year end from February 28 to March 31. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
22 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS 1 SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 | 2-28-17 |
Per share operating performance | ||||||
Net asset value, beginning of period | $24.62 | $26.83 | $28.57 | $28.47 | $21.71 | $19.93 |
Net investment income2 | 0.08 | 0.23 | 0.28 | 0.03 | 0.21 | 0.23 |
Net realized and unrealized gain (loss) on investments | 13.38 | (2.22) | (1.30) | 0.07 | 6.70 | 1.76 |
Total from investment operations | 13.46 | (1.99) | (1.02) | 0.10 | 6.91 | 1.99 |
Less distributions | ||||||
From net investment income | (0.10) | (0.22) | (0.26) | — | (0.15) | (0.21) |
From net realized gain | — | — | (0.46) | — | — | — |
Total distributions | (0.10) | (0.22) | (0.72) | — | (0.15) | (0.21) |
Net asset value, end of period | $37.98 | $24.62 | $26.83 | $28.57 | $28.47 | $21.71 |
Total return (%)3 | 54.68 | (7.55) | (3.32) | 0.354 | 31.86 | 10.04 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $83 | $59 | $78 | $93 | $91 | $50 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.92 | 0.93 | 0.92 | 0.925 | 0.93 | 0.95 |
Expenses including reductions | 0.91 | 0.92 | 0.92 | 0.925 | 0.92 | 0.94 |
Net investment income | 0.23 | 0.82 | 1.05 | 1.065 | 0.79 | 1.09 |
Portfolio turnover (%) | 78 | 80 | 98 | 4 | 65 | 94 |
1 | For the one-month period ended 3-31-18. The fund changed its fiscal year end from February 28 to March 31. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 23 |
CLASS NAV SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 | 2-28-17 |
Per share operating performance | ||||||
Net asset value, beginning of period | $24.62 | $26.82 | $28.57 | $28.47 | $21.71 | $19.93 |
Net investment income2 | 0.10 | 0.24 | 0.29 | 0.03 | 0.23 | 0.19 |
Net realized and unrealized gain (loss) on investments | 13.38 | (2.21) | (1.31) | 0.07 | 6.69 | 1.81 |
Total from investment operations | 13.48 | (1.97) | (1.02) | 0.10 | 6.92 | 2.00 |
Less distributions | ||||||
From net investment income | (0.11) | (0.23) | (0.27) | — | (0.16) | (0.22) |
From net realized gain | — | — | (0.46) | — | — | — |
Total distributions | (0.11) | (0.23) | (0.73) | — | (0.16) | (0.22) |
Net asset value, end of period | $37.99 | $24.62 | $26.82 | $28.57 | $28.47 | $21.71 |
Total return (%)3 | 54.78 | (7.51) | (3.27) | 0.354 | 31.91 | 10.10 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $1,057 | $854 | $1,028 | $1,136 | $1,151 | $864 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.87 | 0.88 | 0.87 | 0.875 | 0.88 | 0.91 |
Expenses including reductions | 0.86 | 0.87 | 0.87 | 0.875 | 0.87 | 0.90 |
Net investment income | 0.30 | 0.87 | 1.06 | 1.105 | 0.89 | 0.91 |
Portfolio turnover (%) | 78 | 80 | 98 | 4 | 65 | 94 |
1 | For the one-month period ended 3-31-18. The fund changed its fiscal year end from February 28 to March 31. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
24 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 25 |
Total value at 3-31-21 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Australia | $184,354,368 | — | $184,354,368 | — |
Brazil | 45,053,696 | $45,053,696 | — | — |
Canada | 205,615,075 | 205,615,075 | — | — |
China | 2,689,192,840 | 1,062,282,501 | 1,626,910,339 | — |
Denmark | 543,182,417 | — | 543,182,417 | — |
France | 1,394,800,890 | — | 1,394,800,890 | — |
Germany | 207,826,814 | — | 207,826,814 | — |
Hong Kong | 270,249,028 | — | 270,249,028 | — |
India | 438,088,347 | — | 438,088,347 | — |
Ireland | 480,179,052 | 296,622,081 | 183,556,971 | — |
Italy | 153,998,720 | — | 153,998,720 | — |
Japan | 892,341,798 | — | 892,341,798 | — |
Netherlands | 955,595,699 | 212,921,681 | 742,674,018 | — |
Singapore | 182,022,401 | — | 182,022,401 | — |
Spain | 203,566,388 | — | 203,566,388 | — |
26 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT |
Total value at 3-31-21 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Sweden | $707,115,680 | — | $707,115,680 | — |
Switzerland | 713,890,139 | — | 713,890,139 | — |
Taiwan | 1,250,316,100 | — | 1,250,316,100 | — |
Thailand | 134,268,544 | — | 134,268,544 | — |
United Kingdom | 963,746,103 | $185,581,263 | 778,164,840 | — |
Short-term investments | 310,173,255 | 190,573,255 | 119,600,000 | — |
Total investments in securities | $12,925,577,354 | $2,198,649,552 | $10,726,927,802 | — |
ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 27 |
28 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT |
March 31, 2021 | March 31, 2020 | |
Ordinary income | $26,402,725 | $65,303,291 |
ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 29 |
Class | Expense reduction |
Class A | $43,155 |
Class B | 12 |
Class C | 15,853 |
Class I | 507,349 |
Class R2 | 2,761 |
Class | Expense reduction |
Class R4 | $1,475 |
Class R6 | 149,363 |
Class 1 | 5,653 |
Class NAV | 77,876 |
Total | $803,497 |
30 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT |
Class | Rule 12b-1 Fee | Service fee |
Class A | 0.30% | — |
Class B | 1.00% | — |
Class C | 1.00% | — |
Class R2 | 0.25% | 0.25% |
Class R4 | 0.25% | 0.10% |
Class 1 | 0.05% | — |
ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 31 |
Class | Distribution and service fees | Transfer agent fees |
Class A | $1,721,663 | $685,613 |
Class B | 1,713 | 213 |
Class C | 2,121,241 | 254,492 |
Class I | — | 8,000,803 |
Class R2 | 180,735 | 4,132 |
Class R4 | 60,173 | 1,936 |
Class R6 | — | 223,446 |
Class 1 | 37,642 | — |
Total | $4,123,167 | $9,170,635 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Borrower | $17,727,143 | 7 | 0.646% | $(2,226) |
Lender | 47,513,188 | 6 | 0.584% | 4,623 |
Year Ended 3-31-21 | Year Ended 3-31-20 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 4,314,116 | $148,515,449 | 2,446,594 | $68,358,288 |
Distributions reinvested | — | — | 80,353 | 2,361,574 |
Repurchased | (5,187,207) | (167,089,240) | (6,692,046) | (183,226,522) |
Net decrease | (873,091) | $(18,573,791) | (4,165,099) | $(112,506,660) |
Class B shares | ||||
Sold | — | — | 734 | $20,222 |
Repurchased | (15,305) | $(474,248) | (22,043) | (603,733) |
Net decrease | (15,305) | $(474,248) | (21,309) | $(583,511) |
32 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT |
Year Ended 3-31-21 | Year Ended 3-31-20 | |||
Shares | Amount | Shares | Amount | |
Class C shares | ||||
Sold | 286,774 | $9,643,678 | 254,037 | $6,963,940 |
Repurchased | (1,714,528) | (53,564,881) | (2,740,410) | (73,029,343) |
Net decrease | (1,427,754) | $(43,921,203) | (2,486,373) | $(66,065,403) |
Class I shares | ||||
Sold | 76,472,105 | $2,482,696,311 | 49,477,777 | $1,366,902,827 |
Distributions reinvested | 384,989 | 13,909,646 | 1,167,622 | 34,363,108 |
Repurchased | (51,587,007) | (1,660,981,670) | (68,467,588) | (1,865,250,138) |
Net increase (decrease) | 25,270,087 | $835,624,287 | (17,822,189) | $(463,984,203) |
Class R2 shares | ||||
Sold | 539,490 | $19,250,334 | 202,705 | $5,575,034 |
Distributions reinvested | — | — | 3,673 | 108,135 |
Repurchased | (425,995) | (13,201,543) | (598,767) | (16,480,184) |
Net increase (decrease) | 113,495 | $6,048,791 | (392,389) | $(10,797,015) |
Class R4 shares | ||||
Sold | 1,089,847 | $40,514,513 | 140,115 | $3,952,475 |
Distributions reinvested | 385 | 13,891 | 1,838 | 54,100 |
Repurchased | (104,147) | (3,567,009) | (145,979) | (4,067,537) |
Net increase (decrease) | 986,085 | $36,961,395 | (4,026) | $(60,962) |
Class R6 shares | ||||
Sold | 19,710,307 | $683,359,061 | 8,691,254 | $245,579,858 |
Distributions reinvested | 182,317 | 6,592,599 | 475,842 | 14,013,544 |
Repurchased | (13,883,531) | (463,039,348) | (19,333,160) | (539,601,756) |
Net increase (decrease) | 6,009,093 | $226,912,312 | (10,166,064) | $(280,008,354) |
Class 1 shares | ||||
Sold | 288,940 | $9,867,603 | 153,496 | $4,299,780 |
Distributions reinvested | 6,142 | 221,773 | 19,424 | 571,277 |
Repurchased | (514,071) | (17,179,225) | (702,781) | (19,373,039) |
Net decrease | (218,989) | $(7,089,849) | (529,861) | $(14,501,982) |
Class NAV shares | ||||
Sold | 4,051,520 | $120,286,768 | 2,253,310 | $63,614,641 |
Distributions reinvested | 95,704 | 3,455,885 | 275,574 | 8,104,635 |
Repurchased | (11,021,377) | (357,385,555) | (6,147,081) | (174,110,113) |
Net decrease | (6,874,153) | $(233,642,902) | (3,618,197) | $(102,390,837) |
Total net increase (decrease) | 22,969,468 | $801,844,792 | (39,205,507) | $(1,050,898,927) |
ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 33 |
Redesignation | Effective date | Amount | |||||
Class B shares as Class A shares | October 14, 2020 | $195,520 |
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* | 19,047,992 | $3,802,480 | $1,817,064,888 | $(1,630,332,224) | $39,389 | $(1,278) | $903,291 | — | $190,573,255 |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
34 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT |
| | 35 |
36 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
• | The Fund’s investment strategy remained appropriate for an open-end fund structure; |
• | The Fund was able to meet requests for redemption without significant dilution of remaining investors’ interests in the Fund; |
• | The Fund did not experience any breaches of the 15% limit on illiquid investments that would require reporting to the Securities and Exchange Commission; |
• | The Fund continued to qualify as a Primarily Highly Liquid Fund under the Liquidity Rule and therefore is not required to establish a HLIM;] and |
• | The Chief Compliance Officer’s office performed audit testing of the LRMP which resulted in an assessment that the LRMP’s control environment was deemed to be operating effectively and in compliance with the Board approved procedures. |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 37 |
38 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
Independent Trustees | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Hassell H. McClellan, Born: 1945 | 2012 | 195 |
Trustee and Chairperson of the Board | ||
Director/Trustee, Virtus Funds (since 2008); Director, The Barnes Group (since 2010); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. | ||
Charles L. Bardelis,2 Born: 1941 | 2012 | 195 |
Trustee | ||
Director, Island Commuter Corp. (marine transport). Trustee of various trusts within the John Hancock Fund Complex (since 1988). | ||
James R. Boyle, Born: 1959 | 2015 | 195 |
Trustee | ||
Chief Executive Officer, Foresters Financial (since 2018); Chairman and Chief Executive Officer, Zillion Group, Inc. (formerly HealthFleet, Inc.) (healthcare) (2014-2018); Executive Vice President and Chief Executive Officer, U.S. Life Insurance Division of Genworth Financial, Inc. (insurance) (January 2014–July 2014); Senior Executive Vice President, Manulife Financial, President and Chief Executive Officer, John Hancock (1999–2012); Chairman and Director, John Hancock Investment Management LLC, John Hancock Investment Management Distributors LLC, and John Hancock Variable Trust Advisers LLC (2005–2010). Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). | ||
Peter S. Burgess,2 Born: 1942 | 2012 | 195 |
Trustee | ||
Consultant (financial, accounting, and auditing matters) (since 1999); Certified Public Accountant; Partner, Arthur Andersen (independent public accounting firm) (prior to 1999); Director, Lincoln Educational Services Corporation (since 2004); Director, Symetra Financial Corporation (2010–2016); Director, PMA Capital Corporation (2004–2010). Trustee of various trusts within the John Hancock Fund Complex (since 2005). | ||
William H. Cunningham, Born: 1944 | 2006 | 195 |
Trustee | ||
Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Chairman (since 2009) and Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000); former Director, LIN Television (2009–2014). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | ||
Grace K. Fey, Born: 1946 | 2012 | 195 |
Trustee | ||
Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 39 |
Independent Trustees (continued) | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Deborah C. Jackson, Born: 1952 | 2008 | 195 |
Trustee | ||
President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women’s Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Board of Directors, Association of Independent Colleges and Universities of Massachusetts (2014-2017); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of American Student Assistance Corporation (1996–2009); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | ||
James M. Oates,† Born: 1946 | 2012 | 195 |
Trustee | ||
Managing Director, Wydown Group (financial consulting firm) (since 1994); Chairman and Director, Emerson Investment Management, Inc. (2000-2015); Independent Chairman, Hudson Castle Group, Inc. (formerly IBEX Capital Markets, Inc.) (financial services company) (1997–2011); Director, Stifel Financial (since 1996); Director, Investor Financial Services Corporation (1995–2007); Director, Connecticut River Bancorp (1998-2014); Director/Trustee, Virtus Funds (since 1988). Trustee (since 2004) and Chairperson of the Board (2005-2016) of various trusts within the John Hancock Fund Complex. | ||
Steven R. Pruchansky, Born: 1944 | 2006 | 195 |
Trustee and Vice Chairperson of the Board | ||
Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex. | ||
Frances G. Rathke,2,* Born: 1960 | 2020 | 195 |
Trustee | ||
Director, Northern New England Energy Corporation (since 2017); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director, Audit Committee Chair and Compensation Committee Member, Planet Fitness (since 2016); Director, Citizen Cider, Inc. (high-end hard cider and hard seltzer company) (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015); Independent Financial Consultant, Frances Rathke Consulting (strategic and financial consulting services) (2001-2003); Chief Financial Officer and Secretary, Ben & Jerry’s Homemade, Inc. (1989-2000, including prior positions); Senior Manager, Coopers & Lybrand, LLC (independent public accounting firm) (1982-1989). Trustee of various trusts within the John Hancock Fund Complex (since 2020). |
40 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
Independent Trustees (continued) | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Gregory A. Russo, Born: 1949 | 2008 | 195 |
Trustee | ||
Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018) and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002); Chairman and Treasurer,Westchester County, New York, Chamber of Commerce (1986–1992); Director, Treasurer, and Chairman of Audit and Finance Committees, Putnam Hospital Center (1989–1995); Director and Chairman of Fundraising Campaign, United Way of Westchester and Putnam Counties, New York (1990–1995). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
Non-Independent Trustees3 | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Andrew G. Arnott, Born: 1971 | 2017 | 195 |
President and Non-Independent Trustee | ||
Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | ||
Marianne Harrison, Born: 1963 | 2018 | 195 |
Non-Independent Trustee | ||
President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, CAE Inc. (since 2019); Member, Board of Directors, MA Competitive Partnership Board (since 2018); Member, Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, an industry-led innovation center that fosters technology companies in Canada (2017-2019); Member, Board of Directors, Manulife Assurance Canada (2015-2017); Board Member, St. Mary’s General Hospital Foundation (2014-2017); Member, Board of Directors, Manulife Bank of Canada (2013- 2017); Member, Standing Committee of the Canadian Life & Health Assurance Association (2013-2017); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, John Hancock New York (2012–2013). Trustee of various trusts within the John Hancock Fund Complex (since 2018). |
Principal officers who are not Trustees | |
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years | Officer of the Trust since |
Charles A. Rizzo, Born: 1957 | 2007 |
Chief Financial Officer | |
Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2008); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2007). |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 41 |
Principal officers who are not Trustees (continued) | |
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years | Officer of the Trust since |
Salvatore Schiavone, Born: 1965 | 2010 |
Treasurer | |
Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). | |
Christopher (Kit) Sechler, Born: 1973 | 2018 |
Secretary and Chief Legal Officer | |
Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2018); Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009). | |
Trevor Swanberg, Born: 1979 | 2020 |
Chief Compliance Officer | |
Chief Compliance Officer, various trusts within the John Hancock Fund Complex, John Hancock Investment Management LLC, and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, various trusts within the John Hancock Fund Complex (2018–2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, various trusts within the John Hancock Fund Complex (2016–2018); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016). |
1 | Each Trustee holds office until his or her successor is elected and qualified, or until the Trustee’s death, retirement, resignation, or removal. Mr. Boyle has served as Trustee at various times prior to the date listed in the table. |
2 | Member of the Audit Committee. |
3 | The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates. |
† | Mr. Oates retired as Trustee effective April 30, 2021. |
* | Appointed as Independent Trustee effective as of September 15, 2020. |
42 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
Charles L. Bardelis*
James R. Boyle
Peter S. Burgess
*William H. Cunningham
Grace K. Fey
Marianne Harrison†
Deborah C. Jackson
James M. Oates*,1
Frances G. Rathke*,2
Gregory A. Russo
President
Chief Financial Officer
Treasurer
Secretary and Chief Legal Officer
Chief Compliance Officer
You can also contact us: | ||
800-225-5291 | Regular mail: | Express mail: |
jhinvestments.com | John Hancock Signature Services, Inc. P.O. Box 219909 Kansas City, MO 64121-9909 | John Hancock Signature Services, Inc. 430 W 7th Street Suite 219909 Kansas City, MO 64105-1407 |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 43 |
GOVERNANCE FUNDS
with a heritage of financial stewardship dating back to 1862. Helping
our shareholders pursue their financial goals is at the core of everything
we do. It’s why we support the role of professional financial advice
and operate with the highest standards of conduct and integrity.
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
a diverse set of investments backed by some of the world’s best
managers, along with strong risk-adjusted returns across asset classes.
200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
MF1591719 | 87A 3/21 |
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 1 |
2 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 3 |
TOP 10 HOLDINGS AS OF 3/31/2021 (% of net assets) | |
Microsoft Corp. | 10.7 |
Amazon.com, Inc. | 8.2 |
Apple, Inc. | 7.8 |
Alphabet, Inc., Class A | 6.7 |
Facebook, Inc., Class A | 5.0 |
Visa, Inc., Class A | 3.0 |
UnitedHealth Group, Inc. | 3.0 |
Mastercard, Inc., Class A | 2.8 |
PayPal Holdings, Inc. | 2.5 |
Adobe, Inc. | 2.4 |
TOTAL | 52.1 |
Cash and cash equivalents are not included. |
4 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 5 |
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | ||||
1-year | 5-year | Since inception (12-20-11) | 5-year | Since inception (12-20-11) | |
Class A | 43.84 | 17.61 | 16.41 | 125.04 | 309.58 |
Class C1 | 49.29 | 17.96 | 16.44 | 128.38 | 310.67 |
Class I2 | 51.84 | 19.13 | 17.41 | 139.98 | 343.43 |
Class R21,2 | 51.24 | 18.69 | 16.97 | 135.57 | 328.32 |
Class R41,2 | 51.59 | 19.00 | 17.16 | 138.63 | 334.62 |
Class R61,2 | 51.96 | 19.28 | 17.35 | 141.42 | 341.37 |
Class NAV2 | 52.01 | 19.28 | 17.58 | 141.46 | 349.36 |
Index† | 62.74 | 21.05 | 18.92 | 159.89 | 399.08 |
Class A | Class C | Class I | Class R2 | Class R4 | Class R6 | Class NAV | |
Gross (%) | 1.01 | 1.76 | 0.76 | 1.15 | 1.00 | 0.65 | 0.64 |
Net (%) | 1.00 | 1.75 | 0.75 | 1.14 | 0.89 | 0.64 | 0.63 |
6 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class C1,3 | 12-20-11 | 41,067 | 41,067 | 49,908 |
Class I2 | 12-20-11 | 44,343 | 44,343 | 49,908 |
Class R21,2 | 12-20-11 | 42,832 | 42,832 | 49,908 |
Class R41,2 | 12-20-11 | 43,462 | 43,462 | 49,908 |
Class R61,2 | 12-20-11 | 44,137 | 44,137 | 49,908 |
Class NAV2 | 12-20-11 | 44,936 | 44,936 | 49,908 |
1 | Class C shares were first offered on 8-28-14; Class R2, Class R4, and Class R6 shares were first offered on 3-27-15. Returns prior to these dates are those of Class A shares that have not been adjusted for class-specific expenses; otherwise, returns would vary. |
2 | For certain types of investors, as described in the fund's prospectuses. |
3 | The contingent deferred sales charge is not applicable. |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 7 |
8 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
Account value on 10-1-2020 | Ending value on 3-31-2021 | Expenses paid during period ended 3-31-20211 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,104.80 | $5.30 | 1.01% |
Hypothetical example | 1,000.00 | 1,019.90 | 5.09 | 1.01% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,101.40 | 9.22 | 1.76% |
Hypothetical example | 1,000.00 | 1,016.20 | 8.85 | 1.76% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,106.40 | 3.99 | 0.76% |
Hypothetical example | 1,000.00 | 1,021.10 | 3.83 | 0.76% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 1,104.40 | 6.09 | 1.16% |
Hypothetical example | 1,000.00 | 1,019.10 | 5.84 | 1.16% | |
Class R4 | Actual expenses/actual returns | 1,000.00 | 1,106.10 | 4.73 | 0.90% |
Hypothetical example | 1,000.00 | 1,020.40 | 4.53 | 0.90% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,107.00 | 3.41 | 0.65% |
Hypothetical example | 1,000.00 | 1,021.70 | 3.28 | 0.65% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 1,107.20 | 3.36 | 0.64% |
Hypothetical example | 1,000.00 | 1,021.70 | 3.23 | 0.64% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/365 (to reflect the one-half year period). |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 9 |
Shares | Value | ||||
Common stocks 100.0% | $1,297,960,412 | ||||
(Cost $852,240,455) | |||||
Communication services 17.4% | 225,828,735 | ||||
Entertainment 2.2% | |||||
Netflix, Inc. (A) | 55,681 | 29,046,550 | |||
Interactive media and services 13.7% | |||||
Alphabet, Inc., Class A (A) | 41,995 | 86,615,527 | |||
Bumble, Inc., Class A (A) | 198,982 | 12,412,497 | |||
Facebook, Inc., Class A (A) | 219,174 | 64,553,318 | |||
Match Group, Inc. (A) | 105,611 | 14,508,839 | |||
Media 1.5% | |||||
Charter Communications, Inc., Class A (A) | 30,294 | 18,692,004 | |||
Consumer discretionary 14.6% | 189,788,801 | ||||
Diversified consumer services 1.0% | |||||
Chegg, Inc. (A) | 152,790 | 13,087,991 | |||
Hotels, restaurants and leisure 2.0% | |||||
Hilton Worldwide Holdings, Inc. (A) | 106,873 | 12,923,083 | |||
Penn National Gaming, Inc. (A) | 127,836 | 13,402,326 | |||
Household durables 1.1% | |||||
Lennar Corp., A Shares | 142,235 | 14,398,449 | |||
Internet and direct marketing retail 10.5% | |||||
Amazon.com, Inc. (A) | 34,542 | 106,875,711 | |||
Etsy, Inc. (A) | 70,985 | 14,315,545 | |||
Wayfair, Inc., Class A (A) | 46,976 | 14,785,696 | |||
Consumer staples 1.2% | 15,837,921 | ||||
Food and staples retailing 1.2% | |||||
Sysco Corp. | 201,142 | 15,837,921 | |||
Financials 5.1% | 66,054,117 | ||||
Capital markets 3.9% | |||||
Ares Management Corp., Class A | 303,525 | 17,006,506 | |||
S&P Global, Inc. | 50,970 | 17,985,784 | |||
The Charles Schwab Corp. | 244,984 | 15,968,057 | |||
Consumer finance 1.2% | |||||
American Express Company | 106,715 | 15,093,770 | |||
Health care 10.1% | 130,657,099 | ||||
Health care equipment and supplies 4.0% | |||||
Align Technology, Inc. (A) | 34,158 | 18,497,582 | |||
Boston Scientific Corp. (A) | 481,264 | 18,600,854 | |||
Danaher Corp. | 68,321 | 15,377,691 |
10 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Health care (continued) | |||||
Health care providers and services 4.1% | |||||
Anthem, Inc. | 39,997 | $14,356,923 | |||
UnitedHealth Group, Inc. | 102,701 | 38,211,961 | |||
Pharmaceuticals 2.0% | |||||
Eli Lilly & Company | 137,095 | 25,612,088 | |||
Industrials 4.8% | 61,909,914 | ||||
Building products 1.1% | |||||
Johnson Controls International PLC | 235,345 | 14,043,036 | |||
Professional services 2.4% | |||||
IHS Markit, Ltd. | 170,112 | 16,463,439 | |||
TransUnion | 161,744 | 14,556,960 | |||
Road and rail 1.3% | |||||
Uber Technologies, Inc. (A) | 309,053 | 16,846,479 | |||
Information technology 45.7% | 593,949,627 | ||||
Communications equipment 1.1% | |||||
F5 Networks, Inc. (A) | 68,119 | 14,210,986 | |||
Electronic equipment, instruments and components 2.4% | |||||
CDW Corp. | 93,135 | 15,437,126 | |||
Corning, Inc. | 360,951 | 15,704,978 | |||
IT services 9.3% | |||||
Global Payments, Inc. | 67,223 | 13,550,812 | |||
Mastercard, Inc., Class A | 100,489 | 35,779,108 | |||
PayPal Holdings, Inc. (A) | 133,859 | 32,506,320 | |||
Visa, Inc., Class A | 183,916 | 38,940,535 | |||
Semiconductors and semiconductor equipment 7.3% | |||||
Advanced Micro Devices, Inc. (A) | 243,163 | 19,088,296 | |||
KLA Corp. | 70,549 | 23,309,390 | |||
Marvell Technology Group, Ltd. | 398,971 | 19,541,600 | |||
Skyworks Solutions, Inc. | 71,896 | 13,191,478 | |||
Texas Instruments, Inc. | 107,514 | 20,319,071 | |||
Software 17.8% | |||||
Adobe, Inc. (A) | 64,548 | 30,684,183 | |||
Intuit, Inc. | 52,635 | 20,162,363 | |||
Microsoft Corp. | 587,988 | 138,629,931 | |||
salesforce.com, Inc. (A) | 117,264 | 24,844,724 | |||
Workday, Inc., Class A (A) | 68,093 | 16,916,344 | |||
Technology hardware, storage and peripherals 7.8% | |||||
Apple, Inc. | 827,936 | 101,132,382 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 11 |
Shares | Value | ||||
Real estate 1.1% | $13,934,198 | ||||
Real estate management and development 1.1% | |||||
CBRE Group, Inc., Class A (A) | 176,137 | 13,934,198 | |||
Yield (%) | Shares | Value | |||
Short-term investments 0.1% | $739,303 | ||||
(Cost $739,303) | |||||
Short-term funds 0.1% | 739,303 | ||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 0.0359(B) | 739,303 | 739,303 |
Total investments (Cost $852,979,758) 100.1% | $1,298,699,715 | ||||
Other assets and liabilities, net (0.1%) | (797,693) | ||||
Total net assets 100.0% | $1,297,902,022 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
Security Abbreviations and Legend | |
(A) | Non-income producing security. |
(B) | The rate shown is the annualized seven-day yield as of 3-31-21. |
12 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Assets | |
Unaffiliated investments, at value (Cost $852,979,758) | $1,298,699,715 |
Dividends and interest receivable | 216,252 |
Receivable for fund shares sold | 485,126 |
Receivable for investments sold | 1,516,576 |
Receivable for securities lending income | 1,753 |
Other assets | 101,352 |
Total assets | 1,301,020,774 |
Liabilities | |
Payable for investments purchased | 878,099 |
Payable for fund shares repurchased | 1,848,557 |
Payable to affiliates | |
Accounting and legal services fees | 58,148 |
Transfer agent fees | 104,569 |
Distribution and service fees | 563 |
Trustees' fees | 528 |
Other liabilities and accrued expenses | 228,288 |
Total liabilities | 3,118,752 |
Net assets | $1,297,902,022 |
Net assets consist of | |
Paid-in capital | $738,354,054 |
Total distributable earnings (loss) | 559,547,968 |
Net assets | $1,297,902,022 |
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 ($653,046,558 ÷ 27,250,220 shares)1 | $23.96 |
Class C ($34,716,198 ÷ 1,504,219 shares)1 | $23.08 |
Class I ($408,288,776 ÷ 16,850,065 shares) | $24.23 |
Class R2 ($1,343,129 ÷ 55,625 shares) | $24.15 |
Class R4 ($3,950 ÷ 163 shares) | $24.252 |
Class R6 ($146,779,177 ÷ 6,040,305 shares) | $24.30 |
Class NAV ($53,724,234 ÷ 2,211,732 shares) | $24.29 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)3 | $25.22 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | Net asset value, offering price and redemption price per share of $24.25 is calculated using Net assets of $3,949.72 and Shares outstanding of 162.87 |
3 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 13 |
Investment income | |
Dividends | $8,730,007 |
Securities lending | 11,143 |
Interest | 5,139 |
Total investment income | 8,746,289 |
Expenses | |
Investment management fees | 7,069,141 |
Distribution and service fees | 1,854,957 |
Accounting and legal services fees | 196,082 |
Transfer agent fees | 1,309,040 |
Trustees' fees | 22,037 |
Custodian fees | 159,497 |
State registration fees | 128,752 |
Printing and postage | 347,220 |
Professional fees | 120,554 |
Other | 57,085 |
Total expenses | 11,264,365 |
Less expense reductions | (95,980) |
Net expenses | 11,168,385 |
Net investment loss | (2,422,096) |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments | 167,451,315 |
Affiliated investments | (3,517) |
167,447,798 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments | 325,304,779 |
325,304,779 | |
Net realized and unrealized gain | 492,752,577 |
Increase in net assets from operations | $490,330,481 |
14 | JOHN HANCOCK U.S. Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Year ended 3-31-21 | Year ended 3-31-20 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income (loss) | $(2,422,096) | $1,250,280 |
Net realized gain (loss) | 167,447,798 | (1,513,541) |
Change in net unrealized appreciation (depreciation) | 325,304,779 | (21,077,986) |
Increase (decrease) in net assets resulting from operations | 490,330,481 | (21,341,247) |
Distributions to shareholders | ||
From earnings | ||
Class A | (16,665,951) | — |
Class C | (947,029) | — |
Class I | (11,856,315) | (416,220) |
Class R2 | (31,262) | — |
Class R4 | (94) | (414) |
Class R6 | (3,925,261) | (216,751) |
Class NAV | (1,492,547) | (89,547) |
Total distributions | (34,918,459) | (722,932) |
From fund share transactions | ||
Fund share transactions | (100,337,593) | 186,865,267 |
Issued in reorganization | — | 229,828,003 |
From fund share transactions | (100,337,593) | 416,693,270 |
Total increase | 355,074,429 | 394,629,091 |
Net assets | ||
Beginning of year | 942,827,593 | 548,198,502 |
End of year | $1,297,902,022 | $942,827,593 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 15 |
CLASS A SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 | 3-31-17 |
Per share operating performance | |||||
Net asset value, beginning of period | $16.24 | $16.23 | $17.94 | $16.89 | $15.33 |
Net investment income (loss)1 | (0.07) | 0.01 | (0.01) | 0.01 | 0.04 |
Net realized and unrealized gain (loss) on investments | 8.40 | —2 | 2.22 | 3.62 | 2.12 |
Total from investment operations | 8.33 | 0.01 | 2.21 | 3.63 | 2.16 |
Less distributions | |||||
From net investment income | — | — | (0.03) | (0.03) | (0.04) |
From net realized gain | (0.61) | — | (3.89) | (2.55) | (0.56) |
Total distributions | (0.61) | — | (3.92) | (2.58) | (0.60) |
Net asset value, end of period | $23.96 | $16.24 | $16.23 | $17.94 | $16.89 |
Total return (%)3,4 | 51.37 | 0.06 | 12.22 | 21.91 | 14.34 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $653 | $458 | $404 | $379 | $343 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.01 | 1.01 | 1.10 | 1.10 | 1.11 |
Expenses including reductions | 1.00 | 1.00 | 1.09 | 1.09 | 1.10 |
Net investment income (loss) | (0.31) | 0.03 | (0.07) | 0.03 | 0.27 |
Portfolio turnover (%) | 101 | 915 | 886 | 83 | 94 |
1 | Based on average daily shares outstanding. |
2 | Less than $0.005 per share. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Does not reflect the effect of sales charges, if any. |
5 | Excludes in-kind transactions and merger activity. |
6 | Excludes in-kind transactions. |
16 | JOHN HANCOCK U.S. Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS C SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 | 3-31-17 |
Per share operating performance | |||||
Net asset value, beginning of period | $15.77 | $15.88 | $17.71 | $16.80 | $15.32 |
Net investment loss1 | (0.23) | (0.12) | (0.14) | (0.13) | (0.08) |
Net realized and unrealized gain (loss) on investments | 8.15 | 0.012 | 2.20 | 3.59 | 2.12 |
Total from investment operations | 7.92 | (0.11) | 2.06 | 3.46 | 2.04 |
Less distributions | |||||
From net realized gain | (0.61) | — | (3.89) | (2.55) | (0.56) |
Net asset value, end of period | $23.08 | $15.77 | $15.88 | $17.71 | $16.80 |
Total return (%)3,4 | 50.29 | (0.69) | 11.44 | 20.95 | 13.53 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $35 | $23 | $12 | $18 | $17 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.76 | 1.76 | 1.85 | 1.85 | 1.86 |
Expenses including reductions | 1.75 | 1.75 | 1.84 | 1.84 | 1.85 |
Net investment loss | (1.07) | (0.72) | (0.85) | (0.72) | (0.48) |
Portfolio turnover (%) | 101 | 915 | 886 | 83 | 94 |
1 | Based on average daily shares outstanding. |
2 | The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Does not reflect the effect of sales charges, if any. |
5 | Excludes in-kind transactions and merger activity. |
6 | Excludes in-kind transactions. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 17 |
CLASS I SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 | 3-31-17 |
Per share operating performance | |||||
Net asset value, beginning of period | $16.38 | $16.36 | $18.05 | $16.98 | $15.41 |
Net investment income (loss)1 | (0.01) | 0.05 | 0.04 | 0.06 | 0.08 |
Net realized and unrealized gain (loss) on investments | 8.49 | (0.01) | 2.23 | 3.64 | 2.13 |
Total from investment operations | 8.48 | 0.04 | 2.27 | 3.70 | 2.21 |
Less distributions | |||||
From net investment income | (0.02) | (0.02) | (0.07) | (0.08) | (0.08) |
From net realized gain | (0.61) | — | (3.89) | (2.55) | (0.56) |
Total distributions | (0.63) | (0.02) | (3.96) | (2.63) | (0.64) |
Net asset value, end of period | $24.23 | $16.38 | $16.36 | $18.05 | $16.98 |
Total return (%)2 | 51.84 | 0.26 | 12.55 | 22.12 | 14.70 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $408 | $321 | $115 | $20 | $17 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.76 | 0.76 | 0.87 | 0.84 | 0.85 |
Expenses including reductions | 0.75 | 0.75 | 0.86 | 0.83 | 0.84 |
Net investment income (loss) | (0.06) | 0.28 | 0.25 | 0.31 | 0.47 |
Portfolio turnover (%) | 101 | 913 | 884 | 83 | 94 |
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 | Excludes in-kind transactions and merger activity. |
4 | Excludes in-kind transactions. |
18 | JOHN HANCOCK U.S. Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R2 SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 | 3-31-17 |
Per share operating performance | |||||
Net asset value, beginning of period | $16.38 | $16.40 | $18.08 | $17.02 | $15.44 |
Net investment income (loss)1 | (0.10) | (0.02) | (0.04) | (0.02) | 0.03 |
Net realized and unrealized gain (loss) on investments | 8.48 | —2 | 2.25 | 3.64 | 2.14 |
Total from investment operations | 8.38 | (0.02) | 2.21 | 3.62 | 2.17 |
Less distributions | |||||
From net investment income | — | — | —2 | (0.01) | (0.03) |
From net realized gain | (0.61) | — | (3.89) | (2.55) | (0.56) |
Total distributions | (0.61) | — | (3.89) | (2.56) | (0.59) |
Net asset value, end of period | $24.15 | $16.38 | $16.40 | $18.08 | $17.02 |
Total return (%)3 | 51.24 | (0.12) | 12.13 | 21.68 | 14.30 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1 | $1 | $1 | $1 | $1 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.14 | 1.15 | 1.25 | 1.22 | 1.18 |
Expenses including reductions | 1.13 | 1.14 | 1.25 | 1.21 | 1.17 |
Net investment income (loss) | (0.45) | (0.11) | (0.22) | (0.11) | 0.19 |
Portfolio turnover (%) | 101 | 914 | 885 | 83 | 94 |
1 | Based on average daily shares outstanding. |
2 | Less than $0.005 per share. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Excludes in-kind transactions and merger activity. |
5 | Excludes in-kind transactions. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 19 |
CLASS R4 SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 | 3-31-17 |
Per share operating performance | |||||
Net asset value, beginning of period | $16.41 | $16.39 | $18.08 | $17.01 | $15.43 |
Net investment income (loss)1 | (0.03) | 0.03 | 0.01 | 0.03 | 0.07 |
Net realized and unrealized gain (loss) on investments | 8.48 | —2 | 2.24 | 3.65 | 2.14 |
Total from investment operations | 8.45 | 0.03 | 2.25 | 3.68 | 2.21 |
Less distributions | |||||
From net investment income | —2 | (0.01) | (0.05) | (0.06) | (0.07) |
From net realized gain | (0.61) | — | (3.89) | (2.55) | (0.56) |
Total distributions | (0.61) | (0.01) | (3.94) | (2.61) | (0.63) |
Net asset value, end of period | $24.25 | $16.41 | $16.39 | $18.08 | $17.01 |
Total return (%)3 | 51.59 | 0.17 | 12.36 | 22.05 | 14.60 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $—4 | $1 | $1 | $1 | $—4 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.00 | 1.00 | 1.10 | 1.06 | 1.02 |
Expenses including reductions | 0.89 | 0.89 | 1.00 | 0.95 | 0.91 |
Net investment income (loss) | (0.14) | 0.15 | 0.03 | 0.18 | 0.44 |
Portfolio turnover (%) | 101 | 915 | 886 | 83 | 94 |
1 | Based on average daily shares outstanding. |
2 | Less than $0.005 per share. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Less than $500,000. |
5 | Excludes in-kind transactions and merger activity. |
6 | Excludes in-kind transactions. |
20 | JOHN HANCOCK U.S. Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R6 SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 | 3-31-17 |
Per share operating performance | |||||
Net asset value, beginning of period | $16.42 | $16.39 | $18.08 | $17.01 | $15.42 |
Net investment income1 | 0.01 | 0.07 | 0.05 | 0.05 | 0.09 |
Net realized and unrealized gain (loss) on investments | 8.51 | —2 | 2.24 | 3.67 | 2.16 |
Total from investment operations | 8.52 | 0.07 | 2.29 | 3.72 | 2.25 |
Less distributions | |||||
From net investment income | (0.03) | (0.04) | (0.09) | (0.10) | (0.10) |
From net realized gain | (0.61) | — | (3.89) | (2.55) | (0.56) |
Total distributions | (0.64) | (0.04) | (3.98) | (2.65) | (0.66) |
Net asset value, end of period | $24.30 | $16.42 | $16.39 | $18.08 | $17.01 |
Total return (%)3 | 51.96 | 0.38 | 12.68 | 22.26 | 14.87 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $147 | $99 | $15 | $9 | $1 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.65 | 0.65 | 0.75 | 0.75 | 0.75 |
Expenses including reductions | 0.64 | 0.64 | 0.74 | 0.74 | 0.73 |
Net investment income | 0.04 | 0.37 | 0.29 | 0.25 | 0.50 |
Portfolio turnover (%) | 101 | 914 | 885 | 83 | 94 |
1 | Based on average daily shares outstanding. |
2 | Less than $0.005 per share. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Excludes in-kind transactions and merger activity. |
5 | Excludes in-kind transactions. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 21 |
CLASS NAV SHARES Period ended | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 | 3-31-17 |
Per share operating performance | |||||
Net asset value, beginning of period | $16.41 | $16.38 | $18.07 | $17.00 | $15.42 |
Net investment income1 | 0.01 | 0.07 | 0.03 | 0.07 | 0.10 |
Net realized and unrealized gain (loss) on investments | 8.51 | —2 | 2.26 | 3.65 | 2.14 |
Total from investment operations | 8.52 | 0.07 | 2.29 | 3.72 | 2.24 |
Less distributions | |||||
From net investment income | (0.03) | (0.04) | (0.09) | (0.10) | (0.10) |
From net realized gain | (0.61) | — | (3.89) | (2.55) | (0.56) |
Total distributions | (0.64) | (0.04) | (3.98) | (2.65) | (0.66) |
Net asset value, end of period | $24.29 | $16.41 | $16.38 | $18.07 | $17.00 |
Total return (%)3 | 52.01 | 0.39 | 12.69 | 22.30 | 14.81 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $54 | $40 | $—4 | $1,410 | $1,592 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.64 | 0.64 | 0.74 | 0.73 | 0.73 |
Expenses including reductions | 0.63 | 0.63 | 0.73 | 0.73 | 0.73 |
Net investment income | 0.06 | 0.41 | 0.18 | 0.40 | 0.61 |
Portfolio turnover (%) | 101 | 915 | 886 | 83 | 94 |
1 | Based on average daily shares outstanding. |
2 | Less than $0.005 per share. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Less than $500,000. |
5 | Excludes in-kind transactions and merger activity. |
6 | Excludes in-kind transactions. |
22 | JOHN HANCOCK U.S. Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 23 |
24 | JOHN HANCOCK U.S. Growth Fund | ANNUAL REPORT |
March 31, 2021 | March 31, 2020 | |
Ordinary income | $23,686,010 | $722,932 |
Long-term capital gains | 11,232,449 | — |
Total | $34,918,459 | $722,932 |
ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 25 |
Class | Expense reduction |
Class A | $45,531 |
Class C | 2,469 |
Class I | 32,746 |
Class R2 | 85 |
Class | Expense reduction |
Class R4 | $53 |
Class R6 | 10,376 |
Class NAV | 3,959 |
Total | $95,219 |
26 | JOHN HANCOCK U.S. Growth Fund | ANNUAL REPORT |
Class | Rule 12b-1 Fee | Service fee |
Class A | 0.25% | — |
Class C | 1.00% | — |
Class R2 | 0.25% | 0.25% |
Class R4 | 0.25% | 0.10% |
ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 27 |
Class | Distribution and service fees | Transfer agent fees |
Class A | $1,518,110 | $727,575 |
Class C | 328,693 | 39,320 |
Class I | — | 526,106 |
Class R2 | 5,512 | 128 |
Class R4 | 2,642 | 93 |
Class R6 | — | 15,818 |
Total | $1,854,957 | $1,309,040 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Borrower | $11,103,682 | 6 | 0.67% | ($1,240) |
Lender | 5,942,323 | 5 | 0.55% | 454 |
Year Ended 3-31-21 | Year Ended 3-31-20 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 2,212,511 | $47,574,705 | 3,023,155 | $53,258,748 |
Issued in reorganization (Note 9) | — | — | 4,540,944 | 75,293,391 |
Distributions reinvested | 692,595 | 16,324,223 | — | — |
Repurchased | (3,884,352) | (85,211,938) | (4,242,450) | (74,258,441) |
Net increase (decrease) | (979,246) | $(21,313,010) | 3,321,649 | $54,293,698 |
28 | JOHN HANCOCK U.S. Growth Fund | ANNUAL REPORT |
Year Ended 3-31-21 | Year Ended 3-31-20 | |||
Shares | Amount | Shares | Amount | |
Class C shares | ||||
Sold | 392,124 | $7,922,544 | 711,141 | $11,948,771 |
Issued in reorganization (Note 9) | — | — | 374,818 | 6,079,328 |
Distributions reinvested | 41,456 | 943,128 | — | — |
Repurchased | (362,390) | (7,878,623) | (387,791) | (6,566,893) |
Net increase | 71,190 | $987,049 | 698,168 | $11,461,206 |
Class I shares | ||||
Sold | 7,526,188 | $159,212,084 | 13,078,856 | $233,950,325 |
Issued in reorganization (Note 9) | — | — | 4,260,837 | 71,208,808 |
Distributions reinvested | 495,297 | 11,797,972 | 22,425 | 414,859 |
Repurchased | (10,754,373) | (243,094,825) | (4,828,389) | (83,891,080) |
Net increase (decrease) | (2,732,888) | $(72,084,769) | 12,533,729 | $221,682,912 |
Class R2 shares | ||||
Sold | 9,840 | $225,661 | 25,337 | $455,795 |
Distributions reinvested | 1,316 | 31,262 | — | — |
Repurchased | (5,147) | (111,672) | (32,442) | (616,700) |
Net increase (decrease) | 6,009 | $145,251 | (7,105) | $(160,905) |
Class R4 shares | ||||
Sold | 2,222 | $44,990 | 7,348 | $126,515 |
Distributions reinvested | 4 | 94 | 22 | 414 |
Repurchased | (55,073) | (1,313,665) | (4,602) | (79,440) |
Net increase (decrease) | (52,847) | $(1,268,581) | 2,768 | $47,489 |
Class R6 shares | ||||
Sold | 1,438,705 | $30,977,228 | 2,190,777 | $39,155,732 |
Issued in reorganization (Note 9) | — | — | 4,614,044 | 77,246,476 |
Distributions reinvested | 164,374 | 3,925,261 | 11,697 | 216,751 |
Repurchased | (1,606,061) | (36,295,520) | (1,692,994) | (29,940,487) |
Net increase (decrease) | (2,982) | $(1,393,031) | 5,123,524 | $86,678,472 |
Class NAV shares | ||||
Sold | 629,873 | $13,321,104 | 3,029,075 | $52,879,3701 |
Distributions reinvested | 62,528 | 1,492,547 | 4,835 | 89,547 |
Repurchased | (926,057) | (20,224,153) | (591,550) | (10,278,519) |
Net increase (decrease) | (233,656) | $(5,410,502) | 2,442,360 | $42,690,398 |
Total net increase (decrease) | (3,924,420) | $(100,337,593) | 24,115,093 | $416,693,270 |
1 | Includes in-kind subscriptions of approximately $18.4 million by affiliates of the fund. The cost basis of the contributed securities is equal to the market value of the securities on the date of the subscription. |
ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 29 |
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* | — | — | $267,048,996 | $(267,045,479) | $(3,517) | — | $11,143 | — | — |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
30 | JOHN HANCOCK U.S. Growth Fund | ANNUAL REPORT |
Acquiring Fund | Acquired Fund | Net Asset Value of the Acquired Fund | Appreciation of the Acquired Fund’s Investments | Shares Redeemed by the Acquired Fund | Shares Issued by the Acquiring Fund | Acquiring Fund Net Assets Prior to Combination | Acquiring Fund Total Net Assets After Combination |
U.S. Quality Growth Fund (formerly U.S. Quality Growth Fund) | John Hancock Funds II U.S. Growth Fund | $229,828,003 | $51,116,210 | 18,999,208 | 13,790,643 | $582,981,914 | $812,809,917 |
ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 31 |
32 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 33 |
Proposal | For | Against | Abstain |
To approve a change to the classification of the Fund from “diversified” to “non-diversified”. | 25,084,611.296 | 2,330,204.052 | 1,859,136.180 |
34 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
• | The Fund’s investment strategy remained appropriate for an open-end fund structure; |
• | The Fund was able to meet requests for redemption without significant dilution of remaining investors’ interests in the Fund; |
• | The Fund did not experience any breaches of the 15% limit on illiquid investments that would require reporting to the Securities and Exchange Commission; |
• | The Fund continued to qualify as a Primarily Highly Liquid Fund under the Liquidity Rule and therefore is not required to establish a HLIM;] and |
• | The Chief Compliance Officer’s office performed audit testing of the LRMP which resulted in an assessment that the LRMP’s control environment was deemed to be operating effectively and in compliance with the Board approved procedures. |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 35 |
36 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
Independent Trustees | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Hassell H. McClellan, Born: 1945 | 2012 | 195 |
Trustee and Chairperson of the Board | ||
Director/Trustee, Virtus Funds (since 2008); Director, The Barnes Group (since 2010); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. | ||
Charles L. Bardelis,2 Born: 1941 | 2012 | 195 |
Trustee | ||
Director, Island Commuter Corp. (marine transport). Trustee of various trusts within the John Hancock Fund Complex (since 1988). | ||
James R. Boyle, Born: 1959 | 2015 | 195 |
Trustee | ||
Chief Executive Officer, Foresters Financial (since 2018); Chairman and Chief Executive Officer, Zillion Group, Inc. (formerly HealthFleet, Inc.) (healthcare) (2014-2018); Executive Vice President and Chief Executive Officer, U.S. Life Insurance Division of Genworth Financial, Inc. (insurance) (January 2014–July 2014); Senior Executive Vice President, Manulife Financial, President and Chief Executive Officer, John Hancock (1999–2012); Chairman and Director, John Hancock Investment Management LLC, John Hancock Investment Management Distributors LLC, and John Hancock Variable Trust Advisers LLC (2005–2010). Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). | ||
Peter S. Burgess,2 Born: 1942 | 2012 | 195 |
Trustee | ||
Consultant (financial, accounting, and auditing matters) (since 1999); Certified Public Accountant; Partner, Arthur Andersen (independent public accounting firm) (prior to 1999); Director, Lincoln Educational Services Corporation (since 2004); Director, Symetra Financial Corporation (2010–2016); Director, PMA Capital Corporation (2004–2010). Trustee of various trusts within the John Hancock Fund Complex (since 2005). | ||
William H. Cunningham, Born: 1944 | 2006 | 195 |
Trustee | ||
Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Chairman (since 2009) and Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000); former Director, LIN Television (2009–2014). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | ||
Grace K. Fey, Born: 1946 | 2012 | 195 |
Trustee | ||
Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 37 |
Independent Trustees (continued) | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Deborah C. Jackson, Born: 1952 | 2008 | 195 |
Trustee | ||
President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women’s Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Board of Directors, Association of Independent Colleges and Universities of Massachusetts (2014-2017); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of American Student Assistance Corporation (1996–2009); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | ||
James M. Oates,† Born: 1946 | 2012 | 195 |
Trustee | ||
Managing Director, Wydown Group (financial consulting firm) (since 1994); Chairman and Director, Emerson Investment Management, Inc. (2000-2015); Independent Chairman, Hudson Castle Group, Inc. (formerly IBEX Capital Markets, Inc.) (financial services company) (1997–2011); Director, Stifel Financial (since 1996); Director, Investor Financial Services Corporation (1995–2007); Director, Connecticut River Bancorp (1998-2014); Director/Trustee, Virtus Funds (since 1988). Trustee (since 2004) and Chairperson of the Board (2005-2016) of various trusts within the John Hancock Fund Complex. | ||
Steven R. Pruchansky, Born: 1944 | 2006 | 195 |
Trustee and Vice Chairperson of the Board | ||
Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex. | ||
Frances G. Rathke,2,* Born: 1960 | 2020 | 195 |
Trustee | ||
Director, Northern New England Energy Corporation (since 2017); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director, Audit Committee Chair and Compensation Committee Member, Planet Fitness (since 2016); Director, Citizen Cider, Inc. (high-end hard cider and hard seltzer company) (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015); Independent Financial Consultant, Frances Rathke Consulting (strategic and financial consulting services) (2001-2003); Chief Financial Officer and Secretary, Ben & Jerry’s Homemade, Inc. (1989-2000, including prior positions); Senior Manager, Coopers & Lybrand, LLC (independent public accounting firm) (1982-1989). Trustee of various trusts within the John Hancock Fund Complex (since 2020). |
38 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
Independent Trustees (continued) | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Gregory A. Russo, Born: 1949 | 2008 | 195 |
Trustee | ||
Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018) and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002); Chairman and Treasurer,Westchester County, New York, Chamber of Commerce (1986–1992); Director, Treasurer, and Chairman of Audit and Finance Committees, Putnam Hospital Center (1989–1995); Director and Chairman of Fundraising Campaign, United Way of Westchester and Putnam Counties, New York (1990–1995). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
Non-Independent Trustees3 | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Andrew G. Arnott, Born: 1971 | 2017 | 195 |
President and Non-Independent Trustee | ||
Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | ||
Marianne Harrison, Born: 1963 | 2018 | 195 |
Non-Independent Trustee | ||
President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, CAE Inc. (since 2019); Member, Board of Directors, MA Competitive Partnership Board (since 2018); Member, Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, an industry-led innovation center that fosters technology companies in Canada (2017-2019); Member, Board of Directors, Manulife Assurance Canada (2015-2017); Board Member, St. Mary’s General Hospital Foundation (2014-2017); Member, Board of Directors, Manulife Bank of Canada (2013- 2017); Member, Standing Committee of the Canadian Life & Health Assurance Association (2013-2017); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, John Hancock New York (2012–2013). Trustee of various trusts within the John Hancock Fund Complex (since 2018). |
Principal officers who are not Trustees | |
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years | Officer of the Trust since |
Charles A. Rizzo, Born: 1957 | 2007 |
Chief Financial Officer | |
Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2008); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2007). |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 39 |
Principal officers who are not Trustees (continued) | |
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years | Officer of the Trust since |
Salvatore Schiavone, Born: 1965 | 2010 |
Treasurer | |
Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). | |
Christopher (Kit) Sechler, Born: 1973 | 2018 |
Secretary and Chief Legal Officer | |
Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2018); Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009). | |
Trevor Swanberg, Born: 1979 | 2020 |
Chief Compliance Officer | |
Chief Compliance Officer, various trusts within the John Hancock Fund Complex, John Hancock Investment Management LLC, and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, various trusts within the John Hancock Fund Complex (2018–2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, various trusts within the John Hancock Fund Complex (2016–2018); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016). |
1 | Each Trustee holds office until his or her successor is elected and qualified, or until the Trustee’s death, retirement, resignation, or removal. Mr. Boyle has served as Trustee at various times prior to the date listed in the table. |
2 | Member of the Audit Committee. |
3 | The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates. |
† | Mr. Oates retired as Trustee effective April 30, 2021. |
* | Appointed as Independent Trustee effective as of September 15, 2020. |
40 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
Charles L. Bardelis*
James R. Boyle
Peter S. Burgess
*William H. Cunningham
Grace K. Fey
Marianne Harrison†
Deborah C. Jackson
James M. Oates*,1
Frances G. Rathke*,2
Gregory A. Russo
President
Chief Financial Officer
Treasurer
Secretary and Chief Legal Officer
Chief Compliance Officer
You can also contact us: | ||
800-225-5291 | Regular mail: | Express mail: |
jhinvestments.com | John Hancock Signature Services, Inc. P.O. Box 219909 Kansas City, MO 64121-9909 | John Hancock Signature Services, Inc. 430 W 7th Street Suite 219909 Kansas City, MO 64105-1407 |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 41 |
GOVERNANCE FUNDS
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MF1591724 | 393A 3/21 |
ITEM 2. CODE OF ETHICS.
As of the end of the year, March 31, 2021, 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.
Peter S. Burgess 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 the following for the fiscal years ended March 31, 2021 and 2020. These fees were billed to the registrant and were approved by the registrant's audit committee.
Fund |
| March 31, 2021 |
| March 31, 2020 |
Disciplined Value Fund | $ | 39,965 | $ | 39,251 |
Disciplined Value Mid Cap Fund |
| 52,005 |
| 50,464 |
Global Shareholder Yield Fund |
| 39,295 |
| 39,827 |
International Growth Fund |
| 52,040 |
| 52,503 |
U.S. Growth Fund (formerly, US Quality |
|
|
|
|
Growth Fund) |
| 40,750 |
| 40,527 |
Total | $ | 224,055 | $ | 222,572 |
(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 reviews for supplemental regulatory filings. Amounts billed to the registrant were as follows:
Fund |
| March 31, 2021 |
| March 31, 2020 |
Disciplined Value Fund | $ | 604 | $ | 616 |
Disciplined Value Mid Cap Fund |
| 604 |
| 616 |
Global Shareholder Yield |
| 604 |
| 616 |
International Growth |
| 604 |
| 616 |
U.S. Growth Fund (formerly, US Quality |
|
|
|
|
Growth Fund) |
| 2,406 |
| 616 |
Total | $ | 4,822 | $ | 3,080 |
Amounts billed to control affiliates were $116,000 and $116,467 for the fiscal years ended March 31, 2021 and 2020, 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 the following for the fiscal years ended March 31, 2021 and 2020. 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.
Fund |
| March 31, 2021 |
| March 31, 2020 |
Disciplined Value Fund | $ | 3,837 | $ | 3,837 |
Disciplined Value Mid Cap Fund |
| 3,837 |
| 3,837 |
Global Shareholder Yield |
| 3,837 |
| 3,837 |
International Growth |
| 4,403 |
| 4,403 |
U.S. Growth Fund (formerly, US Quality |
|
|
|
|
Growth Fund) |
| 3,837 |
| 3,837 |
Total | $ | 19,751 | $ | 19,751 |
(d) All Other Fees
The nature of the services comprising all other fees is advisory services provided to the investment manager. Other fees amounted to the following for the fiscal years ended March 31,
2021 and 2020:
Fund |
| March 31, 2021 |
| March 31, 2020 |
Disciplined Value Fund | $ | 89 | $ | 841 |
Disciplined Value Mid Cap Fund |
| 89 |
| 1,202 |
Global Shareholder Yield |
| 89 |
| 1,202 |
International Growth |
| 89 |
| 1,952 |
U.S. Growth Fund (formerly, US Quality |
|
|
|
|
Growth Fund) |
| 89 |
| 1,952 |
Total | $ | 445 | $ | 7,149 |
(e)(1) Audit Committee Pre-Approval Policies and Procedures:
The trust'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 trust'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 March 31, 2021, 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 $1,220,395 for the fiscal year ended March 31, 2021 and $1,108,881 for the fiscal year ended March 31, 2020.
(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.
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:
Peter S. Burgess - Chairman
Charles L. Bardelis
Frances G. Rathke
James M. Oates - Member of the Audit Committee until retirement effective April 30, 2021.
ITEM 6. SCHEDULE OF INVESTMENTS.
(a)Not applicable.
(b)Not applicable.
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED- END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
Not applicable.
ITEM 10. 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 11. 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 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.:
Not applicable.
ITEM 13. EXHIBITS.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
John Hancock Funds III
By: | /s/ Andrew Arnott |
| ------------------------------ |
| Andrew Arnott |
| President |
Date: | May 7, 2021 |
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/ Andrew Arnott |
| ------------------------------- |
| Andrew Arnott |
| President |
Date: | May 7, 2021 |
By: | /s/ Charles A. Rizzo |
| -------------------------------- |
| Charles A. Rizzo |
| Chief Financial Officer |
Date: | May 7, 2021 |