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: 617-543-9634
Date of fiscal year end: | March 31 |
Date of reporting period: | March 31, 2022 |
ITEM 1. REPORTS TO STOCKHOLDERS
The Registrant prepared the following five annual reports to shareholders for the period ended March 31, 2022:
•Disciplined Value Fund
•Disciplined Value Mid Cap Fund
•Global Shareholder Yield Fund
•International Growth Fund
•U.S. Growth Fund
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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 |
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2 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
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ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 3 |
TOP 10 HOLDINGS AS OF 3/31/2022 (% of net assets) | |
Johnson & Johnson | 3.7 |
Berkshire Hathaway, Inc., Class B | 3.3 |
ConocoPhillips | 3.3 |
Alphabet, Inc., Class A | 2.8 |
JPMorgan Chase & Co. | 2.7 |
UnitedHealth Group, Inc. | 2.4 |
AutoZone, Inc. | 2.4 |
Wells Fargo & Company | 2.1 |
Cisco Systems, Inc. | 2.1 |
Cigna Corp. | 1.8 |
TOTAL | 26.6 |
Cash and cash equivalents are not included. |
COUNTRY COMPOSITION AS OF 3/31/2022 (% of net assets) | |
United States | 88.3 |
Canada | 3.3 |
Switzerland | 2.1 |
Ireland | 1.8 |
France | 1.8 |
Other countries | 2.7 |
TOTAL | 100.0 |
4 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
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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 | 7.76 | 9.69 | 10.79 | 58.80 | 178.74 |
Class C | 11.58 | 10.00 | 10.53 | 61.02 | 172.02 |
Class I1 | 13.73 | 11.10 | 11.66 | 69.24 | 201.18 |
Class R21 | 13.28 | 10.67 | 11.20 | 66.00 | 189.01 |
Class R41 | 13.58 | 10.95 | 11.49 | 68.11 | 196.62 |
Class R51 | 13.82 | 11.16 | 11.73 | 69.74 | 203.22 |
Class R61 | 13.82 | 11.22 | 11.78 | 70.17 | 204.44 |
Class NAV1 | 13.83 | 11.22 | 11.79 | 70.22 | 204.82 |
Index 1† | 11.67 | 10.29 | 11.70 | 63.17 | 202.35 |
Index 2† | 15.65 | 15.99 | 14.64 | 109.94 | 291.97 |
Class A | Class C | Class I | Class R2 | Class R4 | Class R5 | Class R6 | Class NAV | |
Gross (%) | 1.02 | 1.77 | 0.77 | 1.16 | 1.01 | 0.71 | 0.66 | 0.65 |
Net (%) | 1.02 | 1.77 | 0.77 | 1.15 | 0.90 | 0.70 | 0.66 | 0.65 |
6 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
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Start date | With maximum sales charge ($) | Without sales charge ($) | Index 1 ($) | Index 2 ($) | |
Class C2 | 3-31-12 | 27,202 | 27,202 | 30,235 | 39,197 |
Class I1 | 3-31-12 | 30,118 | 30,118 | 30,235 | 39,197 |
Class R21 | 3-31-12 | 28,901 | 28,901 | 30,235 | 39,197 |
Class R41 | 3-31-12 | 29,662 | 29,662 | 30,235 | 39,197 |
Class R51 | 3-31-12 | 30,322 | 30,322 | 30,235 | 39,197 |
Class R61 | 3-31-12 | 30,444 | 30,444 | 30,235 | 39,197 |
Class NAV1 | 3-31-12 | 30,482 | 30,482 | 30,235 | 39,197 |
1 | For certain types of investors, as described in the fund’s prospectuses. |
2 | The contingent deferred sales charge is not applicable. |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 7 |
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8 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
Account value on 10-1-2021 | Ending value on 3-31-2022 | Expenses paid during period ended 3-31-20221 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,097.40 | $5.28 | 1.01% |
Hypothetical example | 1,000.00 | 1,019.90 | 5.09 | 1.01% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,093.30 | 9.13 | 1.75% |
Hypothetical example | 1,000.00 | 1,016.20 | 8.80 | 1.75% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,099.00 | 3.92 | 0.75% |
Hypothetical example | 1,000.00 | 1,021.20 | 3.78 | 0.75% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 1,096.90 | 6.01 | 1.15% |
Hypothetical example | 1,000.00 | 1,019.20 | 5.79 | 1.15% | |
Class R4 | Actual expenses/actual returns | 1,000.00 | 1,098.50 | 4.71 | 0.90% |
Hypothetical example | 1,000.00 | 1,020.40 | 4.53 | 0.90% | |
Class R5 | Actual expenses/actual returns | 1,000.00 | 1,099.60 | 3.66 | 0.70% |
Hypothetical example | 1,000.00 | 1,021.40 | 3.53 | 0.70% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,099.60 | 3.40 | 0.65% |
Hypothetical example | 1,000.00 | 1,021.70 | 3.28 | 0.65% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 1,099.20 | 3.35 | 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 DISCIPLINED VALUE FUND | 9 |
Shares | Value | ||||
Common stocks 98.1% | $12,671,679,651 | ||||
(Cost $8,966,394,568) | |||||
Communication services 5.6% | 724,973,043 | ||||
Entertainment 0.8% | |||||
Activision Blizzard, Inc. | 1,263,991 | 101,258,319 | |||
Interactive media and services 3.7% | |||||
Alphabet, Inc., Class A (A) | 131,907 | 366,879,534 | |||
Meta Platforms, Inc., Class A (A) | 536,703 | 119,341,279 | |||
Wireless telecommunication services 1.1% | |||||
T-Mobile US, Inc. (A) | 1,071,242 | 137,493,911 | |||
Consumer discretionary 5.7% | 744,368,599 | ||||
Distributors 0.7% | |||||
LKQ Corp. | 1,914,232 | 86,925,275 | |||
Hotels, restaurants and leisure 0.3% | |||||
Restaurant Brands International, Inc. | 803,618 | 46,923,255 | |||
Household durables 1.2% | |||||
Mohawk Industries, Inc. (A) | 604,857 | 75,123,239 | |||
Sony Group Corp., ADR | 757,999 | 77,854,077 | |||
Multiline retail 0.4% | |||||
Kohl’s Corp. | 813,752 | 49,199,446 | |||
Specialty retail 3.1% | |||||
AutoZone, Inc. (A) | 151,382 | 309,512,610 | |||
The TJX Companies, Inc. | 1,631,408 | 98,830,697 | |||
Consumer staples 4.9% | 632,398,227 | ||||
Beverages 2.3% | |||||
Coca-Cola Europacific Partners PLC | 2,267,438 | 110,220,161 | |||
Keurig Dr. Pepper, Inc. | 5,052,595 | 191,493,351 | |||
Food and staples retailing 0.8% | |||||
U.S. Foods Holding Corp. (A) | 2,702,152 | 101,681,980 | |||
Household products 1.8% | |||||
The Procter & Gamble Company | 1,498,709 | 229,002,735 | |||
Energy 11.3% | 1,454,909,420 | ||||
Energy equipment and services 1.2% | |||||
Schlumberger NV | 3,734,693 | 154,280,168 | |||
Oil, gas and consumable fuels 10.1% | |||||
Canadian Natural Resources, Ltd. | 2,913,125 | 180,555,488 | |||
Cenovus Energy, Inc. | 4,594,910 | 76,643,099 | |||
ConocoPhillips | 4,201,508 | 420,150,800 | |||
Devon Energy Corp. | 1,127,977 | 66,697,280 |
10 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Energy (continued) | |||||
Oil, gas and consumable fuels (continued) | |||||
EOG Resources, Inc. | 975,652 | $116,326,988 | |||
Marathon Petroleum Corp. | 2,562,644 | 219,106,062 | |||
Pioneer Natural Resources Company | 884,492 | 221,149,535 | |||
Financials 16.7% | 2,155,504,757 | ||||
Banks 7.7% | |||||
Bank of America Corp. | 5,294,484 | 218,238,630 | |||
JPMorgan Chase & Co. | 2,493,640 | 339,933,005 | |||
Truist Financial Corp. | 2,779,026 | 157,570,774 | |||
Wells Fargo & Company | 5,675,062 | 275,013,505 | |||
Capital markets 2.6% | |||||
The Charles Schwab Corp. | 2,335,277 | 196,887,204 | |||
The Goldman Sachs Group, Inc. | 426,864 | 140,907,806 | |||
Consumer finance 1.2% | |||||
Capital One Financial Corp. | 1,180,873 | 155,036,816 | |||
Diversified financial services 3.3% | |||||
Berkshire Hathaway, Inc., Class B (A) | 1,199,625 | 423,359,659 | |||
Insurance 1.9% | |||||
Chubb, Ltd. | 709,236 | 151,705,580 | |||
Everest Re Group, Ltd. | 321,361 | 96,851,778 | |||
Health care 20.4% | 2,632,492,736 | ||||
Biotechnology 1.4% | |||||
AbbVie, Inc. | 1,144,107 | 185,471,186 | |||
Health care providers and services 9.6% | |||||
AmerisourceBergen Corp. | 799,325 | 123,663,571 | |||
Centene Corp. (A) | 2,543,584 | 214,144,337 | |||
Cigna Corp. | 988,289 | 236,803,927 | |||
CVS Health Corp. | 2,213,996 | 224,078,535 | |||
McKesson Corp. | 411,334 | 125,921,677 | |||
UnitedHealth Group, Inc. | 614,010 | 313,126,680 | |||
Life sciences tools and services 1.8% | |||||
Avantor, Inc. (A) | 3,684,513 | 124,610,230 | |||
ICON PLC (A) | 451,721 | 109,867,582 | |||
Pharmaceuticals 7.6% | |||||
Bristol-Myers Squibb Company | 2,173,059 | 158,698,499 | |||
Johnson & Johnson | 2,649,299 | 469,535,262 | |||
Novartis AG, ADR | 1,333,687 | 117,031,034 | |||
Sanofi, ADR | 4,470,982 | 229,540,216 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 11 |
Shares | Value | ||||
Industrials 13.5% | $1,741,581,714 | ||||
Aerospace and defense 2.7% | |||||
General Dynamics Corp. | 851,275 | 205,310,505 | |||
Howmet Aerospace, Inc. | 3,897,213 | 140,065,835 | |||
Building products 0.8% | |||||
Allegion PLC | 512,262 | 56,236,122 | |||
Owens Corning | 546,230 | 49,980,045 | |||
Electrical equipment 1.4% | |||||
Eaton Corp. PLC | 1,155,401 | 175,343,656 | |||
Machinery 4.9% | |||||
Caterpillar, Inc. | 465,665 | 103,759,475 | |||
Deere & Company | 458,516 | 190,495,057 | |||
Dover Corp. | 437,064 | 68,575,342 | |||
Otis Worldwide Corp. | 1,532,364 | 117,915,410 | |||
The Middleby Corp. (A) | 379,719 | 62,251,133 | |||
Wabtec Corp. | 983,379 | 94,571,558 | |||
Professional services 0.7% | |||||
Leidos Holdings, Inc. | 817,058 | 88,258,605 | |||
Road and rail 1.9% | |||||
Canadian National Railway Company | 903,839 | 121,240,963 | |||
Union Pacific Corp. | 463,366 | 126,596,225 | |||
Trading companies and distributors 1.1% | |||||
United Rentals, Inc. (A) | 396,897 | 140,981,783 | |||
Information technology 15.1% | 1,955,569,397 | ||||
Communications equipment 2.1% | |||||
Cisco Systems, Inc. | 4,924,503 | 274,590,287 | |||
IT services 3.9% | |||||
Cognizant Technology Solutions Corp., Class A | 1,189,169 | 106,632,784 | |||
Fidelity National Information Services, Inc. | 1,768,220 | 177,564,652 | |||
FleetCor Technologies, Inc. (A) | 415,714 | 103,537,729 | |||
Global Payments, Inc. | 914,709 | 125,168,780 | |||
Semiconductors and semiconductor equipment 7.2% | |||||
Applied Materials, Inc. | 1,029,582 | 135,698,908 | |||
KLA Corp. | 208,628 | 76,370,366 | |||
Lam Research Corp. | 116,477 | 62,619,200 | |||
Microchip Technology, Inc. | 874,285 | 65,693,775 | |||
Micron Technology, Inc. | 2,507,664 | 195,321,949 | |||
NXP Semiconductors NV | 367,261 | 67,972,666 | |||
Qorvo, Inc. (A) | 794,596 | 98,609,364 | |||
QUALCOMM, Inc. | 1,467,504 | 224,263,961 | |||
Software 1.5% | |||||
NortonLifeLock, Inc. | 3,053,972 | 80,991,337 |
12 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Information technology (continued) | |||||
Software (continued) | |||||
SS&C Technologies Holdings, Inc. | 1,491,699 | $111,907,259 | |||
Technology hardware, storage and peripherals 0.4% | |||||
NetApp, Inc. | 585,860 | 48,626,380 | |||
Materials 2.9% | 370,005,428 | ||||
Chemicals 2.3% | |||||
Axalta Coating Systems, Ltd. (A) | 3,559,868 | 87,501,555 | |||
DuPont de Nemours, Inc. | 2,875,807 | 211,601,879 | |||
Construction materials 0.6% | |||||
CRH PLC, ADR | 1,769,895 | 70,901,994 | |||
Utilities 2.0% | 259,876,330 | ||||
Multi-utilities 2.0% | |||||
CenterPoint Energy, Inc. | 4,003,030 | 122,652,839 | |||
Dominion Energy, Inc. | 1,614,964 | 137,223,491 | |||
Yield (%) | Shares | Value | |||
Short-term investments 1.1% | $139,580,416 | ||||
(Cost $139,580,416) | |||||
Short-term funds 1.1% | 139,580,416 | ||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 0.3058(B) | 139,580,416 | 139,580,416 |
Total investments (Cost $9,105,974,984) 99.2% | $12,811,260,067 | ||||
Other assets and liabilities, net 0.8% | 106,052,621 | ||||
Total net assets 100.0% | $12,917,312,688 |
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 | |
ADR | American Depositary Receipt |
(A) | Non-income producing security. |
(B) | The rate shown is the annualized seven-day yield as of 3-31-22. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 13 |
Assets | |
Unaffiliated investments, at value (Cost $9,105,974,984) | $12,811,260,067 |
Cash | 567,879 |
Dividends and interest receivable | 13,212,239 |
Receivable for fund shares sold | 19,592,408 |
Receivable for investments sold | 244,497,608 |
Receivable for securities lending income | 142 |
Other assets | 475,899 |
Total assets | 13,089,606,242 |
Liabilities | |
Payable for investments purchased | 20,759 |
Payable for fund shares repurchased | 169,636,237 |
Payable to affiliates | |
Accounting and legal services fees | 436,375 |
Transfer agent fees | 717,310 |
Distribution and service fees | 18,555 |
Trustees’ fees | 14,455 |
Other liabilities and accrued expenses | 1,449,863 |
Total liabilities | 172,293,554 |
Net assets | $12,917,312,688 |
Net assets consist of | |
Paid-in capital | $8,636,655,933 |
Total distributable earnings (loss) | 4,280,656,755 |
Net assets | $12,917,312,688 |
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 ($1,203,889,072 ÷ 49,035,847 shares)1 | $24.55 |
Class C ($116,128,042 ÷ 5,133,529 shares)1 | $22.62 |
Class I ($6,039,378,062 ÷ 256,243,650 shares) | $23.57 |
Class R2 ($54,702,712 ÷ 2,325,133 shares) | $23.53 |
Class R4 ($61,570,508 ÷ 2,611,656 shares) | $23.58 |
Class R5 ($60,171,590 ÷ 2,546,938 shares) | $23.63 |
Class R6 ($4,009,044,255 ÷ 169,712,084 shares) | $23.62 |
Class NAV ($1,372,428,447 ÷ 58,071,939 shares) | $23.63 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $25.84 |
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 Disciplined Value Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Investment income | |
Dividends | $209,612,512 |
Interest | 70,759 |
Securities lending | 1,283 |
Less foreign taxes withheld | (2,058,628) |
Total investment income | 207,625,926 |
Expenses | |
Investment management fees | 81,241,268 |
Distribution and service fees | 4,567,858 |
Accounting and legal services fees | 1,741,575 |
Transfer agent fees | 8,543,793 |
Trustees’ fees | 219,930 |
Custodian fees | 1,396,941 |
State registration fees | 289,312 |
Printing and postage | 761,644 |
Professional fees | 299,737 |
Other | 453,269 |
Total expenses | 99,515,327 |
Less expense reductions | (1,223,919) |
Net expenses | 98,291,408 |
Net investment income | 109,334,518 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | 1,709,466,793 |
Affiliated investments | (491) |
Capital gain distributions received from affiliated investments | 73 |
1,709,466,375 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | (172,873,157) |
(172,873,157) | |
Net realized and unrealized gain | 1,536,593,218 |
Increase in net assets from operations | $1,645,927,736 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 15 |
Year ended 3-31-22 | Year ended 3-31-21 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $109,334,518 | $143,838,337 |
Net realized gain | 1,709,466,375 | 841,295,970 |
Change in net unrealized appreciation (depreciation) | (172,873,157) | 5,008,519,540 |
Increase in net assets resulting from operations | 1,645,927,736 | 5,993,653,847 |
Distributions to shareholders | ||
From earnings | ||
Class A | (142,634,076) | (11,834,034) |
Class C | (15,439,022) | (970,155) |
Class I | (794,647,089) | (98,239,369) |
Class R2 | (5,966,347) | (708,389) |
Class R4 | (7,303,391) | (1,066,824) |
Class R5 | (7,360,008) | (700,529) |
Class R6 | (547,655,424) | (62,585,555) |
Class NAV | (188,506,983) | (21,522,877) |
Total distributions | (1,709,512,340) | (197,627,732) |
From fund share transactions | 703,591,853 | (4,125,193,544) |
Total increase | 640,007,249 | 1,670,832,571 |
Net assets | ||
Beginning of year | 12,277,305,439 | 10,606,472,868 |
End of year | $12,917,312,688 | $12,277,305,439 |
16 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS A SHARES Period ended | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 |
Per share operating performance | |||||
Net asset value, beginning of period | $24.73 | $15.18 | $20.25 | $22.11 | $20.71 |
Net investment income1 | 0.15 | 0.18 | 0.30 | 0.26 | 0.20 |
Net realized and unrealized gain (loss) on investments | 3.04 | 9.65 | (4.20) | (0.28) | 2.39 |
Total from investment operations | 3.19 | 9.83 | (3.90) | (0.02) | 2.59 |
Less distributions | |||||
From net investment income | (0.16) | (0.28) | (0.25) | (0.23) | (0.18) |
From net realized gain | (3.21) | — | (0.92) | (1.61) | (1.01) |
Total distributions | (3.37) | (0.28) | (1.17) | (1.84) | (1.19) |
Net asset value, end of period | $24.55 | $24.73 | $15.18 | $20.25 | $22.11 |
Total return (%)2,3 | 13.42 | 65.19 | (20.99) | 0.45 | 12.42 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1,204 | $1,037 | $731 | $1,092 | $1,289 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.04 | 1.07 | 1.07 | 1.06 | 1.06 |
Expenses including reductions | 1.03 | 1.07 | 1.06 | 1.05 | 1.05 |
Net investment income | 0.60 | 0.94 | 1.44 | 1.18 | 0.92 |
Portfolio turnover (%) | 38 | 55 | 88 | 69 | 45 |
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 | 17 |
CLASS C SHARES Period ended | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.05 | $14.17 | $18.98 | $20.82 | $19.57 |
Net investment income (loss)1 | (0.04) | 0.03 | 0.13 | 0.09 | 0.03 |
Net realized and unrealized gain (loss) on investments | 2.82 | 9.00 | (3.92) | (0.26) | 2.25 |
Total from investment operations | 2.78 | 9.03 | (3.79) | (0.17) | 2.28 |
Less distributions | |||||
From net investment income | — | (0.15) | (0.10) | (0.06) | (0.02) |
From net realized gain | (3.21) | — | (0.92) | (1.61) | (1.01) |
Total distributions | (3.21) | (0.15) | (1.02) | (1.67) | (1.03) |
Net asset value, end of period | $22.62 | $23.05 | $14.17 | $18.98 | $20.82 |
Total return (%)2,3 | 12.56 | 63.90 | (21.51) | (0.35) | 11.58 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $116 | $135 | $140 | $235 | $275 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.79 | 1.82 | 1.82 | 1.81 | 1.81 |
Expenses including reductions | 1.78 | 1.82 | 1.81 | 1.80 | 1.80 |
Net investment income (loss) | (0.17) | 0.19 | 0.67 | 0.43 | 0.16 |
Portfolio turnover (%) | 38 | 55 | 88 | 69 | 45 |
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 I SHARES Period ended | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.86 | $14.65 | $19.58 | $21.45 | $20.12 |
Net investment income1 | 0.21 | 0.22 | 0.34 | 0.30 | 0.25 |
Net realized and unrealized gain (loss) on investments | 2.93 | 9.32 | (4.05) | (0.27) | 2.32 |
Total from investment operations | 3.14 | 9.54 | (3.71) | 0.03 | 2.57 |
Less distributions | |||||
From net investment income | (0.22) | (0.33) | (0.30) | (0.29) | (0.23) |
From net realized gain | (3.21) | — | (0.92) | (1.61) | (1.01) |
Total distributions | (3.43) | (0.33) | (1.22) | (1.90) | (1.24) |
Net asset value, end of period | $23.57 | $23.86 | $14.65 | $19.58 | $21.45 |
Total return (%)2 | 13.73 | 65.58 | (20.77) | 0.64 | 12.71 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $6,039 | $5,618 | $5,250 | $7,399 | $6,988 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.79 | 0.82 | 0.82 | 0.82 | 0.81 |
Expenses including reductions | 0.78 | 0.82 | 0.81 | 0.81 | 0.80 |
Net investment income | 0.84 | 1.18 | 1.69 | 1.43 | 1.17 |
Portfolio turnover (%) | 38 | 55 | 88 | 69 | 45 |
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 | 19 |
CLASS R2 SHARES Period ended | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.83 | $14.63 | $19.57 | $21.43 | $20.10 |
Net investment income1 | 0.11 | 0.15 | 0.23 | 0.22 | 0.16 |
Net realized and unrealized gain (loss) on investments | 2.93 | 9.31 | (4.03) | (0.27) | 2.33 |
Total from investment operations | 3.04 | 9.46 | (3.80) | (0.05) | 2.49 |
Less distributions | |||||
From net investment income | (0.13) | (0.26) | (0.22) | (0.20) | (0.15) |
From net realized gain | (3.21) | — | (0.92) | (1.61) | (1.01) |
Total distributions | (3.34) | (0.26) | (1.14) | (1.81) | (1.16) |
Net asset value, end of period | $23.53 | $23.83 | $14.63 | $19.57 | $21.43 |
Total return (%)2 | 13.28 | 64.94 | (21.08) | 0.24 | 12.30 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $55 | $55 | $42 | $102 | $135 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.18 | 1.21 | 1.21 | 1.21 | 1.21 |
Expenses including reductions | 1.17 | 1.20 | 1.20 | 1.20 | 1.20 |
Net investment income | 0.43 | 0.80 | 1.17 | 1.02 | 0.76 |
Portfolio turnover (%) | 38 | 55 | 88 | 69 | 45 |
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 R4 SHARES Period ended | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.87 | $14.65 | $19.59 | $21.45 | $20.12 |
Net investment income1 | 0.17 | 0.20 | 0.30 | 0.27 | 0.22 |
Net realized and unrealized gain (loss) on investments | 2.94 | 9.32 | (4.05) | (0.27) | 2.32 |
Total from investment operations | 3.11 | 9.52 | (3.75) | — | 2.54 |
Less distributions | |||||
From net investment income | (0.19) | (0.30) | (0.27) | (0.25) | (0.20) |
From net realized gain | (3.21) | — | (0.92) | (1.61) | (1.01) |
Total distributions | (3.40) | (0.30) | (1.19) | (1.86) | (1.21) |
Net asset value, end of period | $23.58 | $23.87 | $14.65 | $19.59 | $21.45 |
Total return (%)2 | 13.58 | 65.34 | (20.87) | 0.52 | 12.54 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $62 | $62 | $74 | $143 | $231 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.03 | 1.06 | 1.06 | 1.06 | 1.06 |
Expenses including reductions | 0.92 | 0.95 | 0.95 | 0.95 | 0.95 |
Net investment income | 0.70 | 1.06 | 1.50 | 1.26 | 1.02 |
Portfolio turnover (%) | 38 | 55 | 88 | 69 | 45 |
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 R5 SHARES Period ended | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.91 | $14.67 | $19.62 | $21.48 | $20.15 |
Net investment income1 | 0.23 | 0.23 | 0.34 | 0.31 | 0.26 |
Net realized and unrealized gain (loss) on investments | 2.94 | 9.35 | (4.06) | (0.26) | 2.32 |
Total from investment operations | 3.17 | 9.58 | (3.72) | 0.05 | 2.58 |
Less distributions | |||||
From net investment income | (0.24) | (0.34) | (0.31) | (0.30) | (0.24) |
From net realized gain | (3.21) | — | (0.92) | (1.61) | (1.01) |
Total distributions | (3.45) | (0.34) | (1.23) | (1.91) | (1.25) |
Net asset value, end of period | $23.63 | $23.91 | $14.67 | $19.62 | $21.48 |
Total return (%)2 | 13.82 | 65.67 | (20.74) | 0.75 | 12.73 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $60 | $40 | $61 | $166 | $198 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.73 | 0.76 | 0.76 | 0.76 | 0.76 |
Expenses including reductions | 0.72 | 0.75 | 0.75 | 0.75 | 0.75 |
Net investment income | 0.93 | 1.24 | 1.70 | 1.48 | 1.22 |
Portfolio turnover (%) | 38 | 55 | 88 | 69 | 45 |
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 R6 SHARES Period ended | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.91 | $14.67 | $19.61 | $21.48 | $20.14 |
Net investment income1 | 0.24 | 0.24 | 0.36 | 0.32 | 0.27 |
Net realized and unrealized gain (loss) on investments | 2.93 | 9.35 | (4.06) | (0.27) | 2.33 |
Total from investment operations | 3.17 | 9.59 | (3.70) | 0.05 | 2.60 |
Less distributions | |||||
From net investment income | (0.25) | (0.35) | (0.32) | (0.31) | (0.25) |
From net realized gain | (3.21) | — | (0.92) | (1.61) | (1.01) |
Total distributions | (3.46) | (0.35) | (1.24) | (1.92) | (1.26) |
Net asset value, end of period | $23.62 | $23.91 | $14.67 | $19.61 | $21.48 |
Total return (%)2 | 13.82 | 65.74 | (20.66) | 0.76 | 12.84 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $4,009 | $3,844 | $3,369 | $4,584 | $4,564 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.68 | 0.71 | 0.71 | 0.71 | 0.71 |
Expenses including reductions | 0.68 | 0.71 | 0.70 | 0.70 | 0.70 |
Net investment income | 0.95 | 1.30 | 1.81 | 1.54 | 1.25 |
Portfolio turnover (%) | 38 | 55 | 88 | 69 | 45 |
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 NAV SHARES Period ended | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.92 | $14.68 | $19.62 | $21.49 | $20.15 |
Net investment income1 | 0.24 | 0.25 | 0.36 | 0.33 | 0.27 |
Net realized and unrealized gain (loss) on investments | 2.93 | 9.34 | (4.06) | (0.28) | 2.34 |
Total from investment operations | 3.17 | 9.59 | (3.70) | 0.05 | 2.61 |
Less distributions | |||||
From net investment income | (0.25) | (0.35) | (0.32) | (0.31) | (0.26) |
From net realized gain | (3.21) | — | (0.92) | (1.61) | (1.01) |
Total distributions | (3.46) | (0.35) | (1.24) | (1.92) | (1.27) |
Net asset value, end of period | $23.63 | $23.92 | $14.68 | $19.62 | $21.49 |
Total return (%)2 | 13.83 | 65.71 | (20.64) | 0.77 | 12.85 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1,372 | $1,486 | $887 | $1,105 | $1,219 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.68 | 0.70 | 0.70 | 0.70 | 0.70 |
Expenses including reductions | 0.67 | 0.70 | 0.69 | 0.69 | 0.69 |
Net investment income | 0.95 | 1.31 | 1.83 | 1.54 | 1.28 |
Portfolio turnover (%) | 38 | 55 | 88 | 69 | 45 |
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 |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 25 |
26 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 27 |
March 31, 2022 | March 31, 2021 | |
Ordinary income | $184,269,868 | $197,627,732 |
Long-term capital gains | 1,525,242,472 | — |
Total | $1,709,512,340 | $197,627,732 |
28 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT |
Class | Expense reduction |
Class A | $102,419 |
Class C | 11,464 |
Class I | 536,014 |
Class R2 | 4,564 |
Class R4 | 5,609 |
Class | Expense reduction |
Class R5 | $4,302 |
Class R6 | 366,062 |
Class NAV | 131,670 |
Total | $1,162,104 |
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 R5 | — | 0.05% |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 29 |
Class | Distribution and service fees | Transfer agent fees |
Class A | $2,819,288 | $1,286,689 |
Class C | 1,263,210 | 144,212 |
Class I | — | 6,733,249 |
Class R2 | 247,070 | 4,589 |
Class R4 | 215,179 | 5,635 |
Class R5 | 23,111 | 4,254 |
Class R6 | — | 365,165 |
Total | $4,567,858 | $8,543,793 |
30 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Borrower | $55,500,000 | 1 | 0.655% | ($1,010) |
Lender | 46,050,000 | 2 | 0.541% | 1,384 |
Year Ended 3-31-22 | Year Ended 3-31-21 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 9,714,749 | $247,593,735 | 8,187,313 | $161,642,817 |
Distributions reinvested | 5,703,557 | 134,832,091 | 531,956 | 11,256,191 |
Repurchased | (8,331,972) | (213,497,612) | (14,936,801) | (282,828,069) |
Net increase (decrease) | 7,086,334 | $168,928,214 | (6,217,532) | $(109,929,061) |
Class B shares | ||||
Sold | — | — | 1,216 | $19,172 |
Repurchased | — | — | (137,308) | (2,339,634) |
Net decrease | — | — | (136,092) | $(2,320,462) |
Class C shares | ||||
Sold | 582,924 | $13,606,830 | 389,798 | $7,302,308 |
Distributions reinvested | 677,543 | 14,790,755 | 47,041 | 930,006 |
Repurchased | (1,972,814) | (46,783,606) | (4,468,957) | (80,885,979) |
Net decrease | (712,347) | $(18,386,021) | (4,032,118) | $(72,653,665) |
Class I shares | ||||
Sold | 65,886,934 | $1,617,962,179 | 86,165,736 | $1,596,450,463 |
Distributions reinvested | 27,751,495 | 629,403,911 | 4,033,819 | 82,330,246 |
Repurchased | (72,828,360) | (1,783,032,506) | (213,208,859) | (4,149,349,799) |
Net increase (decrease) | 20,810,069 | $464,333,584 | (123,009,304) | $(2,470,569,090) |
Class I2 shares | ||||
Sold | — | — | 181,930 | $3,209,025 |
Repurchased | — | — | (2,362,340) | (43,819,297) |
Net decrease | — | — | (2,180,410) | $(40,610,272) |
Class R1 shares | ||||
Sold | — | — | 74,561 | $1,236,411 |
Repurchased | — | — | (777,154) | (14,048,114) |
Net decrease | — | — | (702,593) | $(12,811,703) |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 31 |
Year Ended 3-31-22 | Year Ended 3-31-21 | |||
Shares | Amount | Shares | Amount | |
Class R2 shares | ||||
Sold | 712,517 | $17,103,250 | 1,531,138 | $28,452,059 |
Distributions reinvested | 213,199 | 4,831,085 | 26,559 | 541,803 |
Repurchased | (914,343) | (22,767,623) | (2,137,192) | (41,125,478) |
Net increase (decrease) | 11,373 | $(833,288) | (579,495) | $(12,131,616) |
Class R3 shares | ||||
Sold | — | — | 46,238 | $797,795 |
Repurchased | — | — | (687,654) | (12,230,909) |
Net decrease | — | — | (641,416) | $(11,433,114) |
Class R4 shares | ||||
Sold | 1,047,552 | $25,667,362 | 611,151 | $11,317,565 |
Distributions reinvested | 321,877 | 7,303,391 | 52,244 | 1,066,824 |
Repurchased | (1,343,465) | (32,808,860) | (3,097,478) | (60,354,806) |
Net increase (decrease) | 25,964 | $161,893 | (2,434,083) | $(47,970,417) |
Class R5 shares | ||||
Sold | 1,123,572 | $28,566,813 | 600,026 | $11,197,894 |
Distributions reinvested | 323,802 | 7,360,008 | 34,186 | 699,102 |
Repurchased | (577,470) | (14,368,896) | (3,134,822) | (58,126,506) |
Net increase (decrease) | 869,904 | $21,557,925 | (2,500,610) | $(46,229,510) |
Class R6 shares | ||||
Sold | 40,338,709 | $1,001,352,142 | 36,332,826 | $691,270,101 |
Distributions reinvested | 22,054,696 | 501,082,696 | 2,865,844 | 58,577,852 |
Repurchased | (53,460,780) | (1,316,599,662) | (108,023,355) | (2,062,163,285) |
Net increase (decrease) | 8,932,625 | $185,835,176 | (68,824,685) | $(1,312,315,332) |
Class NAV shares | ||||
Sold | 2,095,577 | $52,158,633 | 8,778,856 | $155,844,779 |
Distributions reinvested | 8,293,312 | 188,506,983 | 1,052,463 | 21,522,877 |
Repurchased | (14,445,593) | (358,671,246) | (8,105,073) | (163,586,958) |
Net increase (decrease) | (4,056,704) | $(118,005,630) | 1,726,246 | $13,780,698 |
Total net increase (decrease) | 32,967,218 | $703,591,853 | (209,532,092) | $(4,125,193,544) |
32 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT |
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 |
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* | — | — | $29,396,525 | $(29,396,034) | $(491) | — | $1,283 | $73 | — |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 33 |
34 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE 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 shareholders’ interests in the Fund; |
• | The Fund did not report any breaches of the 15% limit on illiquid investments that would require reporting to the Securities and Exchange Commission; |
36 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
• | 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, as a part of their annual Rule 38a-1 assessment of the Fund’s policies and procedures, reviewed the LRMP’s control environment and deemed it to be operating effectively and in compliance with the Board approved procedures. |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE 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 | 191 |
Trustee and Chairperson of the Board | ||
Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); 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. | ||
James R. Boyle, Born: 1959 | 2015 | 191 |
Trustee | ||
Foresters Financial, Chief Executive Officer (since 2018) and board member (since 2017). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). | ||
Peter S. Burgess,2 Born: 1942 | 2012 | 191 |
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 (2004-2021); 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,2 Born: 1944 | 2006 | 191 |
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). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | ||
Grace K. Fey, Born: 1946 | 2012 | 191 |
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). | ||
Deborah C. Jackson, Born: 1952 | 2008 | 191 |
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). |
38 | 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 |
Steven R. Pruchansky, Born: 1944 | 2006 | 191 |
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 | 191 |
Trustee | ||
Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); 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); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020). | ||
Gregory A. Russo, Born: 1949 | 2008 | 191 |
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 | 191 |
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). |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 39 |
Non-Independent Trustees3 (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 |
Marianne Harrison, Born: 1963 | 2018 | 191 |
Non-Independent Trustee | ||
President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, Boston Medical Center (since 2021); 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 | Current Position(s) with 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). | |
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; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions). | |
Trevor Swanberg, Born: 1979 | 2020 |
Chief Compliance Officer | |
Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); 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); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions). |
40 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
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. |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 41 |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
Peter S. Burgess*
William H. Cunningham*
Grace K. Fey
Marianne Harrison†
Deborah C. Jackson
Frances G. Rathke*
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 |
42 | 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.
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200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
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MF2123379 | 330A 3/22 |
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![](https://capedge.com/proxy/N-CSR/0001683863-22-004725/imgeb5c56612.gif)
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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 |
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2 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT |
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ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 3 |
TOP 10 HOLDINGS AS OF 3/31/2022 (% of net assets) | |
Ameriprise Financial, Inc. | 2.3 |
Fifth Third Bancorp | 2.1 |
AutoZone, Inc. | 1.9 |
KeyCorp | 1.6 |
Dover Corp. | 1.5 |
CenterPoint Energy, Inc. | 1.5 |
Schlumberger NV | 1.4 |
Huntington Bancshares, Inc. | 1.3 |
ICON PLC | 1.3 |
AMETEK, Inc. | 1.3 |
TOTAL | 16.2 |
Cash and cash equivalents are not included. |
4 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT |
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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 | 5.38 | 9.08 | 11.95 | 54.40 | 209.09 |
Class C | 9.12 | 9.39 | 11.67 | 56.61 | 201.43 |
Class I1 | 11.23 | 10.49 | 12.82 | 64.65 | 234.02 |
Class R21 | 10.78 | 10.05 | 12.36 | 61.44 | 220.85 |
Class R41,2 | 11.06 | 10.32 | 12.61 | 63.40 | 228.00 |
Class R61 | 11.36 | 10.60 | 12.92 | 65.52 | 237.12 |
Index† | 11.45 | 9.99 | 12.01 | 61.01 | 210.96 |
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 |
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Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class C3 | 3-31-12 | 30,143 | 30,143 | 31,096 |
Class I1 | 3-31-12 | 33,402 | 33,402 | 31,096 |
Class R21 | 3-31-12 | 32,085 | 32,085 | 31,096 |
Class R41,2 | 3-31-12 | 32,800 | 32,800 | 31,096 |
Class R61 | 3-31-12 | 33,712 | 33,712 | 31,096 |
1 | For certain types of investors, as described in the fund’s prospectus. |
2 | Class R4 shares were first offered on 7-2-13; Returns shown prior to this date 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 MID CAP FUND | 7 |
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8 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT |
Account value on 10-1-2021 | Ending value on 3-31-2022 | Expenses paid during period ended 3-31-20221 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,070.20 | $5.68 | 1.10% |
Hypothetical example | 1,000.00 | 1,019.40 | 5.54 | 1.10% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,066.30 | 9.53 | 1.85% |
Hypothetical example | 1,000.00 | 1,015.70 | 9.30 | 1.85% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,071.90 | 4.39 | 0.85% |
Hypothetical example | 1,000.00 | 1,020.70 | 4.28 | 0.85% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 1,069.30 | 6.45 | 1.25% |
Hypothetical example | 1,000.00 | 1,018.70 | 6.29 | 1.25% | |
Class R4 | Actual expenses/actual returns | 1,000.00 | 1,070.90 | 5.16 | 1.00% |
Hypothetical example | 1,000.00 | 1,019.90 | 5.04 | 1.00% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,072.30 | 3.87 | 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 98.0% | $20,974,973,807 | ||||
(Cost $14,688,184,399) | |||||
Communication services 0.6% | 131,665,158 | ||||
Entertainment 0.6% | |||||
Live Nation Entertainment, Inc. (A) | 1,119,221 | 131,665,158 | |||
Consumer discretionary 13.4% | 2,860,438,543 | ||||
Auto components 0.7% | |||||
Gentex Corp. | 3,004,951 | 87,654,421 | |||
Lear Corp. | 509,248 | 72,613,672 | |||
Automobiles 0.9% | |||||
Harley-Davidson, Inc. | 4,712,568 | 185,675,179 | |||
Distributors 0.7% | |||||
LKQ Corp. | 3,125,209 | 141,915,741 | |||
Hotels, restaurants and leisure 3.9% | |||||
Carnival Corp. (A)(B) | 1,158,162 | 23,418,036 | |||
Darden Restaurants, Inc. | 666,823 | 88,654,118 | |||
Expedia Group, Inc. (A) | 693,667 | 135,729,822 | |||
International Game Technology PLC | 2,870,924 | 70,854,404 | |||
Las Vegas Sands Corp. (A) | 2,240,912 | 87,104,249 | |||
Marriott International, Inc., Class A (A) | 663,589 | 116,625,767 | |||
Norwegian Cruise Line Holdings, Ltd. (A)(B) | 1,051,528 | 23,007,433 | |||
Royal Caribbean Cruises, Ltd. (A) | 342,411 | 28,687,194 | |||
Travel + Leisure Company | 1,809,853 | 104,862,883 | |||
Wyndham Hotels & Resorts, Inc. | 1,776,623 | 150,462,202 | |||
Household durables 2.6% | |||||
Garmin, Ltd. | 1,232,052 | 146,133,688 | |||
Mohawk Industries, Inc. (A) | 899,521 | 111,720,508 | |||
Tempur Sealy International, Inc. | 4,293,267 | 119,868,015 | |||
Whirlpool Corp. | 976,812 | 168,773,577 | |||
Leisure products 1.7% | |||||
Callaway Golf Company (A) | 2,124,491 | 49,755,579 | |||
Hasbro, Inc. | 2,155,346 | 176,565,944 | |||
Polaris, Inc. | 1,337,455 | 140,860,761 | |||
Specialty retail 2.9% | |||||
AutoZone, Inc. (A) | 203,014 | 415,078,364 | |||
Ross Stores, Inc. | 1,619,555 | 146,504,945 | |||
Ulta Beauty, Inc. (A) | 170,539 | 67,912,041 | |||
Consumer staples 2.3% | 486,088,776 | ||||
Beverages 1.4% | |||||
Coca-Cola Europacific Partners PLC | 2,587,409 | 125,773,951 |
10 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Consumer staples (continued) | |||||
Beverages (continued) | |||||
Keurig Dr. Pepper, Inc. | 2,978,703 | $112,892,844 | |||
Monster Beverage Corp. (A) | 814,371 | 65,068,243 | |||
Food and staples retailing 0.9% | |||||
U.S. Foods Holding Corp. (A) | 4,845,967 | 182,353,738 | |||
Energy 8.6% | 1,845,216,883 | ||||
Energy equipment and services 2.4% | |||||
Halliburton Company | 5,578,279 | 211,249,426 | |||
Schlumberger NV | 7,286,711 | 301,014,031 | |||
Oil, gas and consumable fuels 6.2% | |||||
ConocoPhillips | 2,045,348 | 204,534,800 | |||
Devon Energy Corp. | 2,847,734 | 168,386,511 | |||
Diamondback Energy, Inc. | 1,369,948 | 187,792,472 | |||
HF Sinclair Corp. (A) | 2,863,199 | 114,098,480 | |||
Marathon Petroleum Corp. | 2,638,469 | 225,589,100 | |||
Pioneer Natural Resources Company | 899,748 | 224,963,992 | |||
Valero Energy Corp. | 2,044,397 | 207,588,071 | |||
Financials 17.6% | 3,764,286,588 | ||||
Banks 7.5% | |||||
East West Bancorp, Inc. | 3,459,470 | 273,367,319 | |||
Fifth Third Bancorp | 10,164,782 | 437,492,217 | |||
Huntington Bancshares, Inc. | 19,655,915 | 287,369,477 | |||
KeyCorp | 15,135,641 | 338,735,646 | |||
Truist Financial Corp. | 4,534,874 | 257,127,356 | |||
Capital markets 2.8% | |||||
Ameriprise Financial, Inc. | 1,635,025 | 491,096,107 | |||
State Street Corp. | 1,254,276 | 109,272,525 | |||
Consumer finance 2.2% | |||||
Capital One Financial Corp. | 513,684 | 67,441,572 | |||
Discover Financial Services | 2,266,536 | 249,749,602 | |||
SLM Corp. | 5,792,167 | 106,344,186 | |||
Synchrony Financial | 1,584,238 | 55,147,325 | |||
Insurance 5.1% | |||||
Aflac, Inc. | 1,182,920 | 76,168,219 | |||
Alleghany Corp. (A) | 274,657 | 232,634,479 | |||
American International Group, Inc. | 3,154,688 | 198,019,766 | |||
Aon PLC, Class A | 517,256 | 168,434,071 | |||
Everest Re Group, Ltd. | 661,452 | 199,348,404 | |||
Globe Life, Inc. | 1,174,258 | 118,130,355 | |||
The Travelers Companies, Inc. | 538,543 | 98,407,962 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 11 |
Shares | Value | ||||
Health care 9.6% | $2,067,028,609 | ||||
Health care equipment and supplies 1.1% | |||||
Boston Scientific Corp. (A) | 1,771,749 | 78,470,763 | |||
Zimmer Biomet Holdings, Inc. | 1,329,895 | 170,093,571 | |||
Health care providers and services 5.9% | |||||
AmerisourceBergen Corp. | 1,555,738 | 240,688,226 | |||
Centene Corp. (A) | 2,102,800 | 177,034,732 | |||
Cigna Corp. | 356,855 | 85,506,027 | |||
HCA Healthcare, Inc. | 613,951 | 153,868,400 | |||
Humana, Inc. | 460,220 | 200,273,937 | |||
Laboratory Corp. of America Holdings (A) | 282,970 | 74,607,870 | |||
Molina Healthcare, Inc. (A) | 424,940 | 141,755,735 | |||
Universal Health Services, Inc., Class B | 1,277,284 | 185,142,316 | |||
Life sciences tools and services 2.6% | |||||
Avantor, Inc. (A) | 5,624,453 | 190,219,000 | |||
ICON PLC (A) | 1,152,113 | 280,216,924 | |||
IQVIA Holdings, Inc. (A) | 385,585 | 89,151,108 | |||
Industrials 19.1% | 4,083,425,260 | ||||
Aerospace and defense 5.4% | |||||
BWX Technologies, Inc. | 2,226,178 | 119,901,947 | |||
Curtiss-Wright Corp. | 767,300 | 115,217,768 | |||
General Dynamics Corp. | 294,659 | 71,065,858 | |||
Hexcel Corp. | 2,339,208 | 139,112,700 | |||
Howmet Aerospace, Inc. | 6,248,674 | 224,577,344 | |||
L3Harris Technologies, Inc. | 586,747 | 145,789,027 | |||
Maxar Technologies, Inc. | 2,140,161 | 84,450,753 | |||
Textron, Inc. | 3,325,471 | 247,348,533 | |||
Air freight and logistics 0.5% | |||||
Expeditors International of Washington, Inc. | 996,132 | 102,760,977 | |||
Airlines 0.6% | |||||
Alaska Air Group, Inc. (A) | 2,250,967 | 130,578,596 | |||
Building products 1.9% | |||||
Advanced Drainage Systems, Inc. | 959,164 | 113,958,275 | |||
Allegion PLC | 916,239 | 100,584,717 | |||
Masco Corp. | 2,057,711 | 104,943,261 | |||
Resideo Technologies, Inc. (A) | 3,637,157 | 86,673,451 | |||
Commercial services and supplies 0.3% | |||||
Copart, Inc. (A) | 537,755 | 67,472,120 | |||
Electrical equipment 2.9% | |||||
AMETEK, Inc. | 2,067,460 | 275,344,323 | |||
Eaton Corp. PLC | 1,773,503 | 269,146,815 | |||
Sensata Technologies Holding PLC (A) | 1,292,233 | 65,710,048 |
12 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Industrials (continued) | |||||
Machinery 3.8% | |||||
Altra Industrial Motion Corp. | 1,810,618 | $70,487,359 | |||
Dover Corp. | 2,070,914 | 324,926,407 | |||
ITT, Inc. | 918,661 | 69,092,494 | |||
Oshkosh Corp. | 1,459,826 | 146,931,487 | |||
Parker-Hannifin Corp. | 749,172 | 212,585,047 | |||
Professional services 3.0% | |||||
ASGN, Inc. (A) | 1,279,878 | 149,374,561 | |||
Leidos Holdings, Inc. | 1,128,205 | 121,868,704 | |||
Robert Half International, Inc. | 1,408,220 | 160,790,560 | |||
Science Applications International Corp. | 1,076,302 | 99,202,755 | |||
TransUnion | 1,141,866 | 118,000,432 | |||
Road and rail 0.7% | |||||
Norfolk Southern Corp. | 510,234 | 145,528,941 | |||
Information technology 10.1% | 2,161,485,853 | ||||
Electronic equipment, instruments and components 1.8% | |||||
Flex, Ltd. (A) | 6,295,850 | 116,788,018 | |||
TE Connectivity, Ltd. | 1,991,859 | 260,893,692 | |||
IT services 2.7% | |||||
Cognizant Technology Solutions Corp., Class A | 2,149,488 | 192,744,589 | |||
EVERTEC, Inc. | 1,863,949 | 76,291,433 | |||
Fidelity National Information Services, Inc. | 1,600,829 | 160,755,248 | |||
Global Payments, Inc. | 1,150,355 | 157,414,578 | |||
Semiconductors and semiconductor equipment 2.3% | |||||
KLA Corp. | 245,705 | 89,942,772 | |||
Microchip Technology, Inc. | 873,012 | 65,598,122 | |||
NXP Semiconductors NV | 584,011 | 108,088,756 | |||
Qorvo, Inc. (A) | 1,865,138 | 231,463,626 | |||
Software 2.1% | |||||
Check Point Software Technologies, Ltd. (A) | 924,917 | 127,879,024 | |||
NortonLifeLock, Inc. | 7,957,933 | 211,044,383 | |||
SS&C Technologies Holdings, Inc. | 1,481,402 | 111,134,778 | |||
Technology hardware, storage and peripherals 1.2% | |||||
NetApp, Inc. | 1,841,432 | 152,838,856 | |||
Western Digital Corp. (A) | 1,986,062 | 98,607,978 | |||
Materials 4.9% | 1,049,943,028 | ||||
Chemicals 3.8% | |||||
Axalta Coating Systems, Ltd. (A) | 3,457,151 | 84,976,772 | |||
Corteva, Inc. | 4,103,661 | 235,878,434 | |||
DuPont de Nemours, Inc. | 2,387,772 | 175,692,264 | |||
FMC Corp. | 1,682,590 | 221,378,366 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 13 |
Shares | Value | ||||
Materials (continued) | |||||
Chemicals (continued) | |||||
PPG Industries, Inc. | 654,137 | $85,737,737 | |||
Containers and packaging 1.1% | |||||
Avery Dennison Corp. | 381,558 | 66,379,645 | |||
Crown Holdings, Inc. | 1,438,163 | 179,899,810 | |||
Real estate 7.6% | 1,624,625,703 | ||||
Equity real estate investment trusts 7.6% | |||||
American Homes 4 Rent, Class A | 3,123,601 | 125,037,748 | |||
Cousins Properties, Inc. | 3,113,404 | 125,439,047 | |||
Duke Realty Corp. | 3,811,948 | 221,321,701 | |||
Equity Residential | 2,137,450 | 192,199,504 | |||
Essex Property Trust, Inc. | 620,013 | 214,202,091 | |||
Healthpeak Properties, Inc. | 3,158,373 | 108,426,945 | |||
Kilroy Realty Corp. | 1,523,794 | 116,448,337 | |||
Lamar Advertising Company, Class A | 882,227 | 102,497,133 | |||
Regency Centers Corp. | 2,628,371 | 187,507,987 | |||
Welltower, Inc. | 2,408,417 | 231,545,210 | |||
Utilities 4.2% | 900,769,406 | ||||
Electric utilities 2.0% | |||||
American Electric Power Company, Inc. | 1,398,563 | 139,534,631 | |||
Edison International | 1,138,390 | 79,801,139 | |||
Entergy Corp. | 1,804,878 | 210,719,507 | |||
Multi-utilities 2.2% | |||||
CenterPoint Energy, Inc. | 10,282,818 | 315,065,544 | |||
DTE Energy Company | 1,177,283 | 155,648,585 | |||
Yield (%) | Shares | Value | |||
Short-term investments 2.0% | $423,279,466 | ||||
(Cost $423,277,468) | |||||
Short-term funds 2.0% | 423,279,466 | ||||
John Hancock Collateral Trust (C) | 0.3592(D) | 3,325,114 | 33,247,148 | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 0.3058(D) | 390,032,318 | 390,032,318 |
Total investments (Cost $15,111,461,867) 100.0% | $21,398,253,273 | ||||
Other assets and liabilities, net 0.0% | 7,272,867 | ||||
Total net assets 100.0% | $21,405,526,140 |
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 3-31-22. |
14 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
(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 3-31-22. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 15 |
Assets | |
Unaffiliated investments, at value (Cost $15,078,216,717) including $32,289,126 of securities loaned | $21,365,006,125 |
Affiliated investments, at value (Cost $33,245,150) | 33,247,148 |
Total investments, at value (Cost $15,111,461,867) | 21,398,253,273 |
Dividends and interest receivable | 20,954,785 |
Receivable for fund shares sold | 51,437,741 |
Receivable for investments sold | 21,700,007 |
Receivable for securities lending income | 5,717 |
Other assets | 617,469 |
Total assets | 21,492,968,992 |
Liabilities | |
Payable for investments purchased | 19,981,754 |
Payable for fund shares repurchased | 29,650,575 |
Payable upon return of securities loaned | 33,250,664 |
Payable to affiliates | |
Accounting and legal services fees | 714,878 |
Transfer agent fees | 1,566,160 |
Distribution and service fees | 33,787 |
Trustees’ fees | 23,236 |
Other liabilities and accrued expenses | 2,221,798 |
Total liabilities | 87,442,852 |
Net assets | $21,405,526,140 |
Net assets consist of | |
Paid-in capital | $14,707,537,036 |
Total distributable earnings (loss) | 6,697,989,104 |
Net assets | $21,405,526,140 |
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 ($1,485,683,907 ÷ 56,588,141 shares)1 | $26.25 |
Class C ($61,527,183 ÷ 2,353,672 shares)1 | $26.14 |
Class I ($14,846,560,783 ÷ 538,968,471 shares) | $27.55 |
Class R2 ($102,714,435 ÷ 3,746,741 shares) | $27.41 |
Class R4 ($140,549,500 ÷ 5,109,136 shares) | $27.51 |
Class R6 ($4,768,490,332 ÷ 173,150,622 shares) | $27.54 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $27.63 |
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 | $282,328,482 |
Interest | 156,501 |
Securities lending | 146,274 |
Less foreign taxes withheld | (333,211) |
Total investment income | 282,298,046 |
Expenses | |
Investment management fees | 138,729,469 |
Distribution and service fees | 5,248,734 |
Accounting and legal services fees | 2,682,665 |
Transfer agent fees | 17,548,041 |
Trustees’ fees | 316,614 |
Custodian fees | 2,260,360 |
State registration fees | 422,639 |
Printing and postage | 928,513 |
Professional fees | 487,439 |
Other | 501,891 |
Total expenses | 169,126,365 |
Less expense reductions | (1,918,743) |
Net expenses | 167,207,622 |
Net investment income | 115,090,424 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments | 1,065,701,025 |
Affiliated investments | (4,113) |
Capital gain distributions received from affiliated investments | 2,558 |
1,065,699,470 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments | 836,669,245 |
Affiliated investments | 2,022 |
836,671,267 | |
Net realized and unrealized gain | 1,902,370,737 |
Increase in net assets from operations | $2,017,461,161 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Mid Cap Fund | 17 |
Year ended 3-31-22 | Year ended 3-31-21 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $115,090,424 | $99,313,813 |
Net realized gain | 1,065,699,470 | 951,300,181 |
Change in net unrealized appreciation (depreciation) | 836,671,267 | 5,855,231,940 |
Increase in net assets resulting from operations | 2,017,461,161 | 6,905,845,934 |
Distributions to shareholders | ||
From earnings | ||
Class A | (93,487,984) | (10,011,633) |
Class C | (4,250,422) | (337,541) |
Class I | (907,220,543) | (105,682,902) |
Class R2 | (6,373,136) | (827,271) |
Class R4 | (8,561,772) | (1,268,379) |
Class R6 | (291,253,364) | (39,590,248) |
Total distributions | (1,311,147,221) | (157,717,974) |
From fund share transactions | 3,456,435,841 | 578,280,006 |
Total increase | 4,162,749,781 | 7,326,407,966 |
Net assets | ||
Beginning of year | 17,242,776,359 | 9,916,368,393 |
End of year | $21,405,526,140 | $17,242,776,359 |
18 | JOHN HANCOCK Disciplined Value Mid Cap Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS A SHARES Period ended | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 |
Per share operating performance | |||||
Net asset value, beginning of period | $25.33 | $14.91 | $19.08 | $22.35 | $21.61 |
Net investment income1 | 0.09 | 0.10 | 0.14 | 0.12 | 0.07 |
Net realized and unrealized gain (loss) on investments | 2.60 | 10.54 | (3.83) | (1.01) | 2.11 |
Total from investment operations | 2.69 | 10.64 | (3.69) | (0.89) | 2.18 |
Less distributions | |||||
From net investment income | (0.07) | (0.14) | (0.14) | (0.13) | (0.06) |
From net realized gain | (1.70) | (0.08) | (0.34) | (2.25) | (1.38) |
Total distributions | (1.77) | (0.22) | (0.48) | (2.38) | (1.44) |
Net asset value, end of period | $26.25 | $25.33 | $14.91 | $19.08 | $22.35 |
Total return (%)2,3 | 10.91 | 71.55 | (20.06) | (2.98) | 10.15 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1,486 | $1,204 | $782 | $1,184 | $1,547 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.11 | 1.12 | 1.12 | 1.11 | 1.11 |
Expenses including reductions | 1.10 | 1.11 | 1.12 | 1.10 | 1.10 |
Net investment income | 0.34 | 0.52 | 0.70 | 0.58 | 0.30 |
Portfolio turnover (%) | 26 | 524 | 54 | 53 | 53 |
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 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 |
Per share operating performance | |||||
Net asset value, beginning of period | $25.34 | $14.94 | $19.13 | $22.42 | $21.77 |
Net investment loss1 | (0.12) | (0.05) | (0.01) | (0.04) | (0.10) |
Net realized and unrealized gain (loss) on investments | 2.62 | 10.53 | (3.84) | (1.00) | 2.13 |
Total from investment operations | 2.50 | 10.48 | (3.85) | (1.04) | 2.03 |
Less distributions | |||||
From net realized gain | (1.70) | (0.08) | (0.34) | (2.25) | (1.38) |
Total distributions | (1.70) | (0.08) | (0.34) | (2.25) | (1.38) |
Net asset value, end of period | $26.14 | $25.34 | $14.94 | $19.13 | $22.42 |
Total return (%)2,3 | 10.12 | 70.20 | (20.63) | (3.72) | 9.35 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $62 | $92 | $107 | $182 | $278 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.86 | 1.87 | 1.87 | 1.86 | 1.86 |
Expenses including reductions | 1.85 | 1.86 | 1.87 | 1.85 | 1.85 |
Net investment loss | (0.46) | (0.23) | (0.07) | (0.19) | (0.43) |
Portfolio turnover (%) | 26 | 524 | 54 | 53 | 53 |
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 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 |
Per share operating performance | |||||
Net asset value, beginning of period | $26.49 | $15.58 | $19.91 | $23.22 | $22.39 |
Net investment income1 | 0.16 | 0.16 | 0.20 | 0.18 | 0.14 |
Net realized and unrealized gain (loss) on investments | 2.74 | 11.02 | (4.00) | (1.06) | 2.19 |
Total from investment operations | 2.90 | 11.18 | (3.80) | (0.88) | 2.33 |
Less distributions | |||||
From net investment income | (0.14) | (0.19) | (0.19) | (0.18) | (0.12) |
From net realized gain | (1.70) | (0.08) | (0.34) | (2.25) | (1.38) |
Total distributions | (1.84) | (0.27) | (0.53) | (2.43) | (1.50) |
Net asset value, end of period | $27.55 | $26.49 | $15.58 | $19.91 | $23.22 |
Total return (%)2 | 11.23 | 71.97 | (19.84) | (2.79) | 10.46 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $14,847 | $11,932 | $6,349 | $7,784 | $9,799 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.86 | 0.87 | 0.87 | 0.88 | 0.86 |
Expenses including reductions | 0.85 | 0.86 | 0.87 | 0.87 | 0.85 |
Net investment income | 0.59 | 0.78 | 0.97 | 0.82 | 0.58 |
Portfolio turnover (%) | 26 | 523 | 54 | 53 | 53 |
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 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 |
Per share operating performance | |||||
Net asset value, beginning of period | $26.37 | $15.53 | $19.85 | $23.14 | $22.32 |
Net investment income1 | 0.05 | 0.08 | 0.11 | 0.09 | 0.04 |
Net realized and unrealized gain (loss) on investments | 2.73 | 10.96 | (3.98) | (1.04) | 2.19 |
Total from investment operations | 2.78 | 11.04 | (3.87) | (0.95) | 2.23 |
Less distributions | |||||
From net investment income | (0.04) | (0.12) | (0.11) | (0.09) | (0.03) |
From net realized gain | (1.70) | (0.08) | (0.34) | (2.25) | (1.38) |
Total distributions | (1.74) | (0.20) | (0.45) | (2.34) | (1.41) |
Net asset value, end of period | $27.41 | $26.37 | $15.53 | $19.85 | $23.14 |
Total return (%)2 | 10.78 | 71.23 | (20.14) | (3.14) | 10.03 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $103 | $106 | $77 | $131 | $188 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.25 | 1.25 | 1.26 | 1.27 | 1.26 |
Expenses including reductions | 1.24 | 1.24 | 1.25 | 1.26 | 1.25 |
Net investment income | 0.18 | 0.39 | 0.54 | 0.41 | 0.17 |
Portfolio turnover (%) | 26 | 523 | 54 | 53 | 53 |
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 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 |
Per share operating performance | |||||
Net asset value, beginning of period | $26.46 | $15.57 | $19.90 | $23.20 | $22.38 |
Net investment income1 | 0.12 | 0.14 | 0.17 | 0.15 | 0.09 |
Net realized and unrealized gain (loss) on investments | 2.73 | 10.99 | (4.00) | (1.05) | 2.20 |
Total from investment operations | 2.85 | 11.13 | (3.83) | (0.90) | 2.29 |
Less distributions | |||||
From net investment income | (0.10) | (0.16) | (0.16) | (0.15) | (0.09) |
From net realized gain | (1.70) | (0.08) | (0.34) | (2.25) | (1.38) |
Total distributions | (1.80) | (0.24) | (0.50) | (2.40) | (1.47) |
Net asset value, end of period | $27.51 | $26.46 | $15.57 | $19.90 | $23.20 |
Total return (%)2 | 11.06 | 71.69 | (19.96) | (2.90) | 10.26 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $141 | $130 | $55 | $74 | $97 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.10 | 1.11 | 1.11 | 1.12 | 1.12 |
Expenses including reductions | 0.99 | 1.00 | 1.00 | 1.01 | 1.01 |
Net investment income | 0.43 | 0.65 | 0.81 | 0.68 | 0.42 |
Portfolio turnover (%) | 26 | 523 | 54 | 53 | 53 |
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 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 |
Per share operating performance | |||||
Net asset value, beginning of period | $26.48 | $15.58 | $19.90 | $23.21 | $22.38 |
Net investment income1 | 0.19 | 0.18 | 0.23 | 0.21 | 0.17 |
Net realized and unrealized gain (loss) on investments | 2.74 | 11.01 | (4.00) | (1.07) | 2.18 |
Total from investment operations | 2.93 | 11.19 | (3.77) | (0.86) | 2.35 |
Less distributions | |||||
From net investment income | (0.17) | (0.21) | (0.21) | (0.20) | (0.14) |
From net realized gain | (1.70) | (0.08) | (0.34) | (2.25) | (1.38) |
Total distributions | (1.87) | (0.29) | (0.55) | (2.45) | (1.52) |
Net asset value, end of period | $27.54 | $26.48 | $15.58 | $19.90 | $23.21 |
Total return (%)2 | 11.36 | 72.06 | (19.72) | (2.66) | 10.56 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $4,768 | $3,778 | $2,546 | $2,994 | $2,748 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.75 | 0.76 | 0.76 | 0.77 | 0.77 |
Expenses including reductions | 0.75 | 0.75 | 0.76 | 0.76 | 0.76 |
Net investment income | 0.69 | 0.88 | 1.08 | 0.96 | 0.71 |
Portfolio turnover (%) | 26 | 523 | 54 | 53 | 53 |
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 |
March 31, 2022 | March 31, 2021 | |
Ordinary income | $249,150,262 | $111,738,470 |
Long-term capital gains | 1,061,996,959 | 45,979,504 |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Mid Cap Fund | 27 |
March 31, 2022 | March 31, 2021 | |
Total | $1,311,147,221 | $157,717,974 |
28 | JOHN HANCOCK Disciplined Value Mid Cap Fund | ANNUAL REPORT |
Class | Expense reduction |
Class A | $125,762 |
Class C | 7,044 |
Class I | 1,230,800 |
Class R2 | 9,622 |
Class | Expense reduction |
Class R4 | $12,457 |
Class R6 | 395,766 |
Total | $1,781,451 |
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% |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Mid Cap Fund | 29 |
Class | Distribution and service fees | Transfer agent fees |
Class A | $3,463,340 | $1,580,239 |
Class C | 777,723 | 88,821 |
Class I | — | 15,463,494 |
Class R2 | 529,118 | 9,643 |
Class R4 | 478,553 | 12,445 |
Class R6 | — | 393,399 |
Total | $5,248,734 | $17,548,041 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Lender | $179,750,000 | 2 | 0.558% | $5,570 |
Year Ended 3-31-22 | Year Ended 3-31-21 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 17,271,449 | $459,849,087 | 13,472,994 | $275,798,014 |
Distributions reinvested | 3,233,445 | 81,870,828 | 392,018 | 8,620,473 |
Repurchased | (11,461,015) | (303,540,324) | (18,748,352) | (357,054,624) |
Net increase (decrease) | 9,043,879 | $238,179,591 | (4,883,340) | $(72,636,137) |
30 | JOHN HANCOCK Disciplined Value Mid Cap Fund | ANNUAL REPORT |
Year Ended 3-31-22 | Year Ended 3-31-21 | |||
Shares | Amount | Shares | Amount | |
Class C shares | ||||
Sold | 670,446 | $17,752,159 | 600,150 | $12,511,177 |
Distributions reinvested | 165,026 | 4,168,561 | 15,155 | 334,157 |
Repurchased | (2,123,525) | (57,000,431) | (4,152,547) | (83,165,788) |
Net decrease | (1,288,053) | $(35,079,711) | (3,537,242) | $(70,320,454) |
Class I shares | ||||
Sold | 158,975,602 | $4,421,157,908 | 165,501,257 | $3,618,428,209 |
Distributions reinvested | 30,847,582 | 819,003,301 | 3,982,496 | 91,517,750 |
Repurchased | (101,293,916) | (2,817,335,655) | (126,485,840) | (2,572,453,814) |
Net increase | 88,529,268 | $2,422,825,554 | 42,997,913 | $1,137,492,145 |
Class R2 shares | ||||
Sold | 738,603 | $20,534,775 | 888,114 | $18,487,562 |
Distributions reinvested | 216,500 | 5,726,413 | 32,130 | 736,103 |
Repurchased | (1,225,374) | (34,017,394) | (1,852,216) | (38,500,430) |
Net decrease | (270,271) | $(7,756,206) | (931,972) | $(19,276,765) |
Class R4 shares | ||||
Sold | 1,442,449 | $40,248,996 | 4,035,160 | $73,620,175 |
Distributions reinvested | 322,842 | 8,561,772 | 55,244 | 1,268,379 |
Repurchased | (1,581,351) | (43,886,059) | (2,704,605) | (56,524,560) |
Net increase | 183,940 | $4,924,709 | 1,385,799 | $18,363,994 |
Class R6 shares | ||||
Sold | 50,998,138 | $1,417,851,144 | 38,945,260 | $804,385,733 |
Distributions reinvested | 10,321,964 | 273,841,708 | 1,631,198 | 37,468,623 |
Repurchased | (30,824,404) | (858,350,948) | (61,377,815) | (1,256,581,892) |
Net increase (decrease) | 30,495,698 | $833,341,904 | (20,801,357) | $(414,727,536) |
Class ADV shares | ||||
Sold | — | — | 2,365 | $40,000 |
Repurchased | — | — | (33,632) | (655,241) |
Net decrease | — | — | (31,267) | $(615,241) |
Total net increase | 126,694,461 | $3,456,435,841 | 14,198,534 | $578,280,006 |
Redesignation | Effective date | Amount | |||||
Class ADV shares as Class A shares | October 9, 2020 | $610,733 |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Mid Cap Fund | 31 |
Dividends and distributions | |||||||||
Affiliate | Ending share amount | Beginning value | Cost of purchases | Proceeds from shares sold | Realized gain (loss) | Change in unrealized appreciation (depreciation) | Income distributions received | Capital gain distributions received | Ending value |
John Hancock Collateral Trust* | 3,325,114 | $1,229,904 | $232,826,395 | $(200,807,060) | $(4,113) | $2,022 | $146,274 | $2,558 | $33,247,148 |
* | 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 shareholders’ interests in the Fund; |
• | The Fund did not report any breaches of the 15% limit on illiquid investments that would require reporting to the Securities and Exchange Commission; |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 35 |
• | 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, as a part of their annual Rule 38a-1 assessment of the Fund’s policies and procedures, reviewed the LRMP’s control environment and deemed it to be operating effectively and in compliance with the Board approved procedures. |
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 | 191 |
Trustee and Chairperson of the Board | ||
Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); 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. | ||
James R. Boyle, Born: 1959 | 2015 | 191 |
Trustee | ||
Foresters Financial, Chief Executive Officer (since 2018) and board member (since 2017). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). | ||
Peter S. Burgess,2 Born: 1942 | 2012 | 191 |
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 (2004-2021); 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,2 Born: 1944 | 2006 | 191 |
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). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | ||
Grace K. Fey, Born: 1946 | 2012 | 191 |
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). | ||
Deborah C. Jackson, Born: 1952 | 2008 | 191 |
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). |
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 |
Steven R. Pruchansky, Born: 1944 | 2006 | 191 |
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 | 191 |
Trustee | ||
Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); 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); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020). | ||
Gregory A. Russo, Born: 1949 | 2008 | 191 |
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 | 191 |
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). |
38 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT |
Non-Independent Trustees3 (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 |
Marianne Harrison, Born: 1963 | 2018 | 191 |
Non-Independent Trustee | ||
President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, Boston Medical Center (since 2021); 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 | Current Position(s) with 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). | |
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; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions). | |
Trevor Swanberg, Born: 1979 | 2020 |
Chief Compliance Officer | |
Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); 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); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions). |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 39 |
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. |
40 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
Peter S. Burgess*
William H. Cunningham*
Grace K. Fey
Marianne Harrison†
Deborah C. Jackson
Frances G. Rathke*
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.
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200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
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MF2123381 | 363A 3/22 |
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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 |
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2 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
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ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 3 |
TOP 10 HOLDINGS AS OF 3/31/2022 (% of net assets) | |
Nutrien, Ltd. | 2.3 |
Broadcom, Inc. | 2.1 |
AbbVie, Inc. | 2.0 |
AstraZeneca PLC, ADR | 1.8 |
Microsoft Corp. | 1.8 |
IBM Corp. | 1.8 |
Cisco Systems, Inc. | 1.7 |
Iron Mountain, Inc. | 1.6 |
MetLife, Inc. | 1.6 |
TotalEnergies SE | 1.6 |
TOTAL | 18.3 |
Cash and cash equivalents are not included. |
TOP 10 COUNTRIES AS OF 3/31/2022 (% of net assets) | |
United States | 55.6 |
Canada | 9.0 |
United Kingdom | 8.4 |
Germany | 7.2 |
France | 5.7 |
Switzerland | 2.4 |
Italy | 2.4 |
Japan | 1.8 |
Norway | 1.4 |
Taiwan | 1.2 |
TOTAL | 95.1 |
Cash and cash equivalents are not included. |
4 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
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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 3-31-22 | as of 3-31-22 | ||
Class A | 4.54 | 5.71 | 6.83 | 32.03 | 93.64 | 1.95 | 1.80 | |
Class C | 8.20 | 6.01 | 6.61 | 33.89 | 89.60 | 1.32 | 1.22 | |
Class I1 | 10.28 | 7.07 | 7.70 | 40.73 | 109.94 | 2.29 | 2.19 | |
Class R21 | 9.82 | 6.66 | 7.25 | 38.01 | 101.36 | 1.95 | 1.87 | |
Class R61 | 10.40 | 7.17 | 7.81 | 41.40 | 112.11 | 2.39 | 2.31 | |
Class NAV1 | 10.40 | 7.19 | 7.83 | 41.49 | 112.44 | 2.39 | 2.31 | |
Index†† | 10.12 | 12.42 | 10.88 | 79.58 | 180.98 | — | — |
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 |
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Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class C2 | 3-31-12 | 18,960 | 18,960 | 28,098 |
Class I1 | 3-31-12 | 20,994 | 20,994 | 28,098 |
Class R21 | 3-31-12 | 20,136 | 20,136 | 28,098 |
Class R61 | 3-31-12 | 21,211 | 21,211 | 28,098 |
Class NAV1 | 3-31-12 | 21,244 | 21,244 | 28,098 |
1 | For certain types of investors, as described in the fund’s prospectuses. |
2 | The contingent deferred sales charge is not applicable. |
ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 7 |
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8 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
Account value on 10-1-2021 | Ending value on 3-31-2022 | Expenses paid during period ended 3-31-20221 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,071.30 | $5.63 | 1.09% |
Hypothetical example | 1,000.00 | 1,019.50 | 5.49 | 1.09% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,068.00 | 9.49 | 1.84% |
Hypothetical example | 1,000.00 | 1,015.80 | 9.25 | 1.84% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,073.20 | 4.34 | 0.84% |
Hypothetical example | 1,000.00 | 1,020.70 | 4.23 | 0.84% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 1,071.00 | 6.25 | 1.21% |
Hypothetical example | 1,000.00 | 1,018.90 | 6.09 | 1.21% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,073.90 | 3.83 | 0.74% |
Hypothetical example | 1,000.00 | 1,021.20 | 3.73 | 0.74% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 1,073.80 | 3.83 | 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% | $1,094,509,643 | ||||
(Cost $771,625,836) | |||||
Canada 9.0% | 100,362,476 | ||||
BCE, Inc. | 177,531 | 9,841,138 | |||
Enbridge, Inc. | 187,189 | 8,617,148 | |||
Fortis, Inc. | 129,527 | 6,406,155 | |||
Great-West Lifeco, Inc. | 300,809 | 8,864,379 | |||
Nutrien, Ltd. | 250,248 | 26,023,290 | |||
Restaurant Brands International, Inc. | 266,155 | 15,540,790 | |||
Royal Bank of Canada | 121,005 | 13,322,504 | |||
TELUS Corp. (A) | 449,651 | 11,747,072 | |||
France 5.7% | 63,185,530 | ||||
AXA SA (A) | 569,189 | 16,662,715 | |||
Danone SA | 78,966 | 4,362,342 | |||
Orange SA | 803,578 | 9,514,183 | |||
Sanofi | 143,445 | 14,665,845 | |||
TotalEnergies SE | 355,346 | 17,980,445 | |||
Germany 7.2% | 80,405,634 | ||||
Allianz SE | 70,445 | 16,822,931 | |||
BASF SE | 150,546 | 8,590,287 | |||
Bayer AG | 133,503 | 9,131,533 | |||
Deutsche Post AG | 203,380 | 9,711,830 | |||
Deutsche Telekom AG | 828,290 | 15,426,263 | |||
Muenchener Rueckversicherungs-Gesellschaft AG | 49,708 | 13,288,993 | |||
Siemens AG | 53,686 | 7,433,797 | |||
Hong Kong 0.6% | 6,776,291 | ||||
China Resources Gas Group, Ltd. | 1,610,000 | 6,776,291 | |||
Ireland 1.2% | 13,110,407 | ||||
Medtronic PLC | 118,165 | 13,110,407 | |||
Italy 2.4% | 26,352,138 | ||||
Assicurazioni Generali SpA (A) | 642,317 | 14,691,255 | |||
Snam SpA | 2,022,148 | 11,660,883 | |||
Japan 1.8% | 19,267,796 | ||||
Bridgestone Corp. | 177,300 | 6,882,038 | |||
Tokio Marine Holdings, Inc. | 102,800 | 5,982,266 | |||
Toyota Motor Corp. | 355,000 | 6,403,492 | |||
Norway 1.4% | 15,621,290 | ||||
Orkla ASA | 868,239 | 7,713,866 | |||
Telenor ASA | 551,058 | 7,907,424 |
10 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
South Korea 1.2% | $13,212,965 | ||||
Samsung Electronics Company, Ltd., GDR (B) | 9,374 | 13,212,965 | |||
Spain 0.3% | 3,487,094 | ||||
Industria de Diseno Textil SA | 159,921 | 3,487,094 | |||
Switzerland 2.4% | 27,011,201 | ||||
Nestle SA | 43,460 | 5,650,611 | |||
Novartis AG | 174,180 | 15,291,533 | |||
Roche Holding AG | 15,339 | 6,069,057 | |||
Taiwan 1.2% | 13,652,534 | ||||
Taiwan Semiconductor Manufacturing Company, Ltd., ADR | 130,947 | 13,652,534 | |||
United Kingdom 8.4% | 93,499,138 | ||||
AstraZeneca PLC, ADR | 310,466 | 20,596,314 | |||
B&M European Value Retail SA | 800,169 | 5,598,209 | |||
BAE Systems PLC | 1,239,595 | 11,641,567 | |||
British American Tobacco PLC | 341,713 | 14,350,954 | |||
Coca-Cola Europacific Partners PLC | 202,244 | 9,831,081 | |||
GlaxoSmithKline PLC | 413,577 | 8,948,520 | |||
Linde PLC | 17,611 | 5,625,482 | |||
National Grid PLC | 475,784 | 7,311,931 | |||
Unilever PLC | 211,333 | 9,595,080 | |||
United States 55.6% | 618,565,149 | ||||
AbbVie, Inc. | 140,152 | 22,720,041 | |||
Air Products & Chemicals, Inc. | 25,438 | 6,357,211 | |||
Ally Financial, Inc. | 121,289 | 5,273,646 | |||
Altria Group, Inc. | 215,594 | 11,264,787 | |||
Ameren Corp. | 70,445 | 6,604,923 | |||
American Electric Power Company, Inc. | 128,107 | 12,781,235 | |||
American Tower Corp. | 21,588 | 5,423,337 | |||
Amgen, Inc. | 28,973 | 7,006,251 | |||
Analog Devices, Inc. | 106,802 | 17,641,554 | |||
Apple, Inc. | 78,113 | 13,639,311 | |||
AT&T, Inc. | 285,471 | 6,745,680 | |||
Broadcom, Inc. | 36,643 | 23,073,364 | |||
Chevron Corp. | 52,550 | 8,556,717 | |||
Cisco Systems, Inc. | 349,381 | 19,481,485 | |||
Cummins, Inc. | 33,802 | 6,933,128 | |||
Dominion Energy, Inc. | 78,397 | 6,661,393 | |||
Dow, Inc. | 194,006 | 12,362,062 | |||
Duke Energy Corp. | 56,242 | 6,279,982 | |||
Eaton Corp. PLC | 37,211 | 5,647,141 | |||
Emerson Electric Company | 148,842 | 14,593,958 | |||
Entergy Corp. | 76,125 | 8,887,594 | |||
Enterprise Products Partners LP | 555,035 | 14,325,453 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 11 |
Shares | Value | ||||
United States (continued) | |||||
Evergy, Inc. | 141,457 | $9,667,171 | |||
Hanesbrands, Inc. | 342,281 | 5,096,564 | |||
Hasbro, Inc. | 107,371 | 8,795,832 | |||
Hubbell, Inc. | 29,825 | 5,480,940 | |||
IBM Corp. | 153,671 | 19,980,300 | |||
Intel Corp. | 118,449 | 5,870,332 | |||
Iron Mountain, Inc. | 327,509 | 18,147,274 | |||
Johnson & Johnson | 36,359 | 6,443,906 | |||
JPMorgan Chase & Co. | 67,036 | 9,138,348 | |||
Kimberly-Clark Corp. | 42,892 | 5,282,579 | |||
KLA Corp. | 30,393 | 11,125,662 | |||
Lazard, Ltd., Class A | 316,148 | 10,907,106 | |||
Leggett & Platt, Inc. | 141,172 | 4,912,786 | |||
Lockheed Martin Corp. | 13,918 | 6,143,405 | |||
LyondellBasell Industries NV, Class A | 119,869 | 12,324,931 | |||
Magellan Midstream Partners LP | 157,364 | 7,721,851 | |||
McDonald’s Corp. | 26,701 | 6,602,623 | |||
Merck & Company, Inc. | 141,173 | 11,583,245 | |||
MetLife, Inc. | 257,634 | 18,106,518 | |||
Microsoft Corp. | 65,900 | 20,317,629 | |||
MSC Industrial Direct Company, Inc., Class A | 155,376 | 13,239,589 | |||
NextEra Energy, Inc. | 66,184 | 5,606,447 | |||
NiSource, Inc. | 219,003 | 6,964,295 | |||
Omnicom Group, Inc. | 113,904 | 9,668,172 | |||
Pfizer, Inc. | 183,780 | 9,514,291 | |||
Philip Morris International, Inc. | 148,274 | 13,928,860 | |||
Raytheon Technologies Corp. | 70,445 | 6,978,986 | |||
Realty Income Corp. | 182,360 | 12,637,548 | |||
Target Corp. | 27,269 | 5,787,027 | |||
Texas Instruments, Inc. | 63,627 | 11,674,282 | |||
The Coca-Cola Company | 135,776 | 8,418,112 | |||
The Home Depot, Inc. | 17,611 | 5,271,501 | |||
The PNC Financial Services Group, Inc. | 29,541 | 5,448,837 | |||
The Procter & Gamble Company | 37,779 | 5,772,631 | |||
Truist Financial Corp. | 129,811 | 7,360,284 | |||
United Parcel Service, Inc., Class B | 32,666 | 7,005,550 | |||
Vail Resorts, Inc. | 18,179 | 4,731,448 | |||
Verizon Communications, Inc. | 188,041 | 9,578,809 | |||
WEC Energy Group, Inc. | 61,639 | 6,152,189 | |||
Welltower, Inc. | 65,616 | 6,308,322 | |||
WP Carey, Inc. | 131,231 | 10,608,714 | |||
12 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Yield (%) | Shares | Value | |||
Short-term investments 0.7% | $7,071,602 | ||||
(Cost $7,071,018) | |||||
Short-term funds 0.7% | 7,071,602 | ||||
John Hancock Collateral Trust (C) | 0.3592(D) | 707,245 | 7,071,602 |
Total investments (Cost $778,696,854) 99.1% | $1,101,581,245 | ||||
Other assets and liabilities, net 0.9% | 10,519,396 | ||||
Total net assets 100.0% | $1,112,100,641 |
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 | |
ADR | American Depositary Receipt |
GDR | Global Depositary Receipt |
(A) | All or a portion of this security is on loan as of 3-31-22. |
(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) | 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 3-31-22. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 13 |
Assets | |
Unaffiliated investments, at value (Cost $771,625,836) including $17,079,927 of securities loaned | $1,094,509,643 |
Affiliated investments, at value (Cost $7,071,018) | 7,071,602 |
Total investments, at value (Cost $778,696,854) | 1,101,581,245 |
Cash | 13,186,581 |
Foreign currency, at value (Cost $277,029) | 276,391 |
Dividends and interest receivable | 5,960,494 |
Receivable for fund shares sold | 947,871 |
Receivable for securities lending income | 7,070 |
Receivable from affiliates | 4,432 |
Other assets | 127,395 |
Total assets | 1,122,091,479 |
Liabilities | |
Payable for fund shares repurchased | 2,623,463 |
Payable upon return of securities loaned | 7,075,784 |
Payable to affiliates | |
Accounting and legal services fees | 37,860 |
Transfer agent fees | 69,049 |
Distribution and service fees | 117 |
Trustees’ fees | 1,469 |
Other liabilities and accrued expenses | 183,096 |
Total liabilities | 9,990,838 |
Net assets | $1,112,100,641 |
Net assets consist of | |
Paid-in capital | $748,188,887 |
Total distributable earnings (loss) | 363,911,754 |
Net assets | $1,112,100,641 |
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 ($326,676,580 ÷ 28,064,657 shares)1 | $11.64 |
Class C ($20,445,621 ÷ 1,752,177 shares)1 | $11.67 |
Class I ($377,126,869 ÷ 32,259,152 shares) | $11.69 |
Class R2 ($588,660 ÷ 50,261 shares) | $11.71 |
Class R6 ($278,081,331 ÷ 23,831,125 shares) | $11.67 |
Class NAV ($109,181,580 ÷ 9,348,728 shares) | $11.68 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $12.25 |
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 | $40,682,734 |
Interest | 8,985 |
Securities lending | 181,894 |
Less foreign taxes withheld | (2,197,507) |
Total investment income | 38,676,106 |
Expenses | |
Investment management fees | 9,043,478 |
Distribution and service fees | 1,230,516 |
Accounting and legal services fees | 147,670 |
Transfer agent fees | 865,967 |
Trustees’ fees | 22,505 |
Custodian fees | 257,464 |
State registration fees | 129,387 |
Printing and postage | 63,295 |
Professional fees | 91,104 |
Other | 67,274 |
Total expenses | 11,918,660 |
Less expense reductions | (1,746,969) |
Net expenses | 10,171,691 |
Net investment income | 28,504,415 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | 96,537,946 |
Affiliated investments | (20) |
Capital gain distributions received from affiliated investments | 1,181 |
Realized loss on investments not meeting investment restrictions | (105,831) |
Reimbursement from investment advisor for loss on investments not meeting investment restrictions | 105,831 |
96,539,107 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | (14,125,453) |
Affiliated investments | (5,617) |
(14,131,070) | |
Net realized and unrealized gain | 82,408,037 |
Increase in net assets from operations | $110,912,452 |
16 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Year ended 3-31-22 | Year ended 3-31-21 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $28,504,415 | $44,096,658 |
Net realized gain | 96,539,107 | 126,471,147 |
Change in net unrealized appreciation (depreciation) | (14,131,070) | 367,816,897 |
Increase in net assets resulting from operations | 110,912,452 | 538,384,702 |
Distributions to shareholders | ||
From earnings | ||
Class A | (33,035,751) | (8,005,340) |
Class B1 | — | (5,944) |
Class C | (2,168,246) | (722,643) |
Class I | (39,553,873) | (17,667,353) |
Class R2 | (66,434) | (15,041) |
Class R6 | (28,804,562) | (8,126,137) |
Class NAV | (12,045,777) | (9,486,100) |
Total distributions | (115,674,643) | (44,028,558) |
From fund share transactions | (21,146,260) | (833,898,075) |
Total decrease | (25,908,451) | (339,541,931) |
Net assets | ||
Beginning of year | 1,138,009,092 | 1,477,551,023 |
End of year | $1,112,100,641 | $1,138,009,092 |
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 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 |
Per share operating performance | ||||||
Net asset value, beginning of period | $11.76 | $8.62 | $11.03 | $11.14 | $11.31 | $10.78 |
Net investment income2 | 0.28 | 0.27 | 0.33 | 0.35 | 0.04 | 0.32 |
Net realized and unrealized gain (loss) on investments | 0.86 | 3.16 | (2.21) | 0.16 | (0.16) | 0.53 |
Total from investment operations | 1.14 | 3.43 | (1.88) | 0.51 | (0.12) | 0.85 |
Less distributions | ||||||
From net investment income | (0.28) | (0.29) | (0.33) | (0.35) | (0.05) | (0.32) |
From net realized gain | (0.98) | — | (0.20) | (0.27) | — | — |
Total distributions | (1.26) | (0.29) | (0.53) | (0.62) | (0.05) | (0.32) |
Net asset value, end of period | $11.64 | $11.76 | $8.62 | $11.03 | $11.14 | $11.31 |
Total return (%)3,4 | 10.05 | 40.22 | (17.96) | 4.86 | (1.03)5 | 7.87 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $327 | $318 | $257 | $334 | $348 | $355 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.28 | 1.29 | 1.29 | 1.28 | 1.306 | 1.27 |
Expenses including reductions | 1.09 | 1.09 | 1.09 | 1.09 | 1.096 | 1.09 |
Net investment income | 2.32 | 2.58 | 2.96 | 3.18 | 3.786 | 2.85 |
Portfolio turnover (%) | 24 | 30 | 33 | 16 | 2 | 19 |
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 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 |
Per share operating performance | ||||||
Net asset value, beginning of period | $11.79 | $8.64 | $11.05 | $11.16 | $11.31 | $10.78 |
Net investment income2 | 0.20 | 0.19 | 0.25 | 0.27 | 0.03 | 0.24 |
Net realized and unrealized gain (loss) on investments | 0.85 | 3.17 | (2.21) | 0.16 | (0.15) | 0.52 |
Total from investment operations | 1.05 | 3.36 | (1.96) | 0.43 | (0.12) | 0.76 |
Less distributions | ||||||
From net investment income | (0.19) | (0.21) | (0.25) | (0.27) | (0.03) | (0.23) |
From net realized gain | (0.98) | — | (0.20) | (0.27) | — | — |
Total distributions | (1.17) | (0.21) | (0.45) | (0.54) | (0.03) | (0.23) |
Net asset value, end of period | $11.67 | $11.79 | $8.64 | $11.05 | $11.16 | $11.31 |
Total return (%)3,4 | 9.19 | 39.22 | (18.59) | 4.06 | (1.05)5 | 6.98 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $20 | $29 | $44 | $75 | $107 | $110 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.98 | 1.99 | 1.99 | 1.97 | 2.006 | 1.97 |
Expenses including reductions | 1.84 | 1.84 | 1.84 | 1.84 | 1.846 | 1.84 |
Net investment income | 1.63 | 1.89 | 2.27 | 2.49 | 3.036 | 2.11 |
Portfolio turnover (%) | 24 | 30 | 33 | 16 | 2 | 19 |
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 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 |
Per share operating performance | ||||||
Net asset value, beginning of period | $11.81 | $8.65 | $11.07 | $11.18 | $11.35 | $10.82 |
Net investment income2 | 0.31 | 0.29 | 0.36 | 0.38 | 0.04 | 0.36 |
Net realized and unrealized gain (loss) on investments | 0.86 | 3.18 | (2.22) | 0.16 | (0.15) | 0.51 |
Total from investment operations | 1.17 | 3.47 | (1.86) | 0.54 | (0.11) | 0.87 |
Less distributions | ||||||
From net investment income | (0.31) | (0.31) | (0.36) | (0.38) | (0.06) | (0.34) |
From net realized gain | (0.98) | — | (0.20) | (0.27) | — | — |
Total distributions | (1.29) | (0.31) | (0.56) | (0.65) | (0.06) | (0.34) |
Net asset value, end of period | $11.69 | $11.81 | $8.65 | $11.07 | $11.18 | $11.35 |
Total return (%)3 | 10.28 | 40.65 | (17.77) | 5.10 | (0.96)4 | 8.10 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $377 | $396 | $605 | $815 | $881 | $894 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.98 | 0.99 | 0.99 | 0.99 | 1.005 | 0.97 |
Expenses including reductions | 0.84 | 0.84 | 0.84 | 0.84 | 0.845 | 0.84 |
Net investment income | 2.59 | 2.78 | 3.22 | 3.44 | 4.035 | 3.12 |
Portfolio turnover (%) | 24 | 30 | 33 | 16 | 2 | 19 |
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 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 |
Per share operating performance | ||||||
Net asset value, beginning of period | $11.83 | $8.66 | $11.08 | $11.19 | $11.35 | $10.82 |
Net investment income2 | 0.27 | 0.25 | 0.32 | 0.33 | 0.03 | 0.30 |
Net realized and unrealized gain (loss) on investments | 0.85 | 3.19 | (2.22) | 0.16 | (0.14) | 0.53 |
Total from investment operations | 1.12 | 3.44 | (1.90) | 0.49 | (0.11) | 0.83 |
Less distributions | ||||||
From net investment income | (0.26) | (0.27) | (0.32) | (0.33) | (0.05) | (0.30) |
From net realized gain | (0.98) | — | (0.20) | (0.27) | — | — |
Total distributions | (1.24) | (0.27) | (0.52) | (0.60) | (0.05) | (0.30) |
Net asset value, end of period | $11.71 | $11.83 | $8.66 | $11.08 | $11.19 | $11.35 |
Total return (%)3 | 9.82 | 40.19 | (18.10) | 4.68 | (0.98)4 | 7.68 |
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 | 1.34 | 1.35 | 1.34 | 1.36 | 1.385 | 1.37 |
Expenses including reductions | 1.21 | 1.23 | 1.22 | 1.22 | 1.245 | 1.24 |
Net investment income | 2.20 | 2.45 | 2.86 | 3.02 | 3.625 | 2.62 |
Portfolio turnover (%) | 24 | 30 | 33 | 16 | 2 | 19 |
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 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 |
Per share operating performance | ||||||
Net asset value, beginning of period | $11.79 | $8.64 | $11.06 | $11.16 | $11.34 | $10.81 |
Net investment income2 | 0.32 | 0.30 | 0.37 | 0.39 | 0.04 | 0.31 |
Net realized and unrealized gain (loss) on investments | 0.86 | 3.17 | (2.22) | 0.17 | (0.16) | 0.57 |
Total from investment operations | 1.18 | 3.47 | (1.85) | 0.56 | (0.12) | 0.88 |
Less distributions | ||||||
From net investment income | (0.32) | (0.32) | (0.37) | (0.39) | (0.06) | (0.35) |
From net realized gain | (0.98) | — | (0.20) | (0.27) | — | — |
Total distributions | (1.30) | (0.32) | (0.57) | (0.66) | (0.06) | (0.35) |
Net asset value, end of period | $11.67 | $11.79 | $8.64 | $11.06 | $11.16 | $11.34 |
Total return (%)3 | 10.40 | 40.72 | (17.69) | 5.31 | (1.03)4 | 8.22 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $278 | $275 | $245 | $351 | $477 | $483 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.88 | 0.88 | 0.88 | 0.88 | 0.895 | 0.87 |
Expenses including reductions | 0.74 | 0.74 | 0.74 | 0.74 | 0.745 | 0.74 |
Net investment income | 2.68 | 2.94 | 3.34 | 3.57 | 4.135 | 2.61 |
Portfolio turnover (%) | 24 | 30 | 33 | 16 | 2 | 19 |
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 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 |
Per share operating performance | ||||||
Net asset value, beginning of period | $11.80 | $8.64 | $11.06 | $11.17 | $11.34 | $10.81 |
Net investment income2 | 0.32 | 0.29 | 0.37 | 0.39 | 0.04 | 0.36 |
Net realized and unrealized gain (loss) on investments | 0.86 | 3.19 | (2.22) | 0.16 | (0.15) | 0.52 |
Total from investment operations | 1.18 | 3.48 | (1.85) | 0.55 | (0.11) | 0.88 |
Less distributions | ||||||
From net investment income | (0.32) | (0.32) | (0.37) | (0.39) | (0.06) | (0.35) |
From net realized gain | (0.98) | — | (0.20) | (0.27) | — | — |
Total distributions | (1.30) | (0.32) | (0.57) | (0.66) | (0.06) | (0.35) |
Net asset value, end of period | $11.68 | $11.80 | $8.64 | $11.06 | $11.17 | $11.34 |
Total return (%)3 | 10.40 | 40.83 | (17.77) | 5.30 | (0.94)4 | 8.11 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $109 | $120 | $325 | $458 | $511 | $514 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.87 | 0.87 | 0.87 | 0.87 | 0.885 | 0.86 |
Expenses including reductions | 0.74 | 0.74 | 0.74 | 0.74 | 0.745 | 0.74 |
Net investment income | 2.68 | 2.87 | 3.32 | 3.54 | 4.135 | 3.19 |
Portfolio turnover (%) | 24 | 30 | 33 | 16 | 2 | 19 |
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 3-31-22 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Canada | $100,362,476 | $100,362,476 | — | — |
France | 63,185,530 | — | $63,185,530 | — |
Germany | 80,405,634 | — | 80,405,634 | — |
Hong Kong | 6,776,291 | — | 6,776,291 | — |
Ireland | 13,110,407 | 13,110,407 | — | — |
Italy | 26,352,138 | — | 26,352,138 | — |
Japan | 19,267,796 | — | 19,267,796 | — |
Norway | 15,621,290 | — | 15,621,290 | — |
South Korea | 13,212,965 | — | 13,212,965 | — |
Spain | 3,487,094 | — | 3,487,094 | — |
Switzerland | 27,011,201 | — | 27,011,201 | — |
Taiwan | 13,652,534 | 13,652,534 | — | — |
United Kingdom | 93,499,138 | 36,052,877 | 57,446,261 | — |
United States | 618,565,149 | 618,565,149 | — | — |
Short-term investments | 7,071,602 | 7,071,602 | — | — |
Total investments in securities | $1,101,581,245 | $788,815,045 | $312,766,200 | — |
ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 25 |
26 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT |
March 31, 2022 | March 31, 2021 | |
Ordinary income | $30,395,868 | $44,028,558 |
Long-term capital gains | 85,278,775 | — |
ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 27 |
March 31, 2022 | March 31, 2021 | |
Total | $115,674,643 | $44,028,558 |
28 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT |
Class | Expense reduction |
Class A | $626,926 |
Class C | 35,799 |
Class I | 552,326 |
Class R2 | 841 |
Class | Expense reduction |
Class R6 | $381,047 |
Class NAV | 150,030 |
Total | $1,746,969 |
Class | Rule 12b-1 Fee | Service fee |
Class A | 0.30% | — |
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 | $975,644 | $370,854 |
Class C | 251,869 | 28,581 |
Class I | — | 441,434 |
Class R2 | 3,003 | 59 |
Class R6 | — | 25,039 |
Total | $1,230,516 | $865,967 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Borrower | $5,900,000 | 1 | 0.550% | ($90) |
30 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT |
Year Ended 3-31-22 | Year Ended 3-31-21 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 3,015,150 | $36,401,031 | 4,201,152 | $43,177,068 |
Distributions reinvested | 2,824,661 | 32,215,794 | 751,659 | 7,812,460 |
Repurchased | (4,770,589) | (57,329,434) | (7,791,441) | (80,038,962) |
Net increase (decrease) | 1,069,222 | $11,287,391 | (2,838,630) | $(29,049,434) |
Class B shares | ||||
Sold | — | — | 10 | $85 |
Distributions reinvested | — | — | 587 | 5,650 |
Repurchased | — | — | (97,457) | (974,795) |
Net decrease | — | — | (96,860) | $(969,060) |
Class C shares | ||||
Sold | 83,473 | $1,015,839 | 65,566 | $667,126 |
Distributions reinvested | 189,547 | 2,166,335 | 69,731 | 713,734 |
Repurchased | (997,554) | (12,084,573) | (2,755,813) | (28,402,815) |
Net decrease | (724,534) | $(8,902,399) | (2,620,516) | $(27,021,955) |
Class I shares | ||||
Sold | 3,698,341 | $44,567,858 | 10,347,471 | $106,008,666 |
Distributions reinvested | 3,406,422 | 39,064,398 | 1,702,358 | 17,544,070 |
Repurchased | (8,399,789) | (101,694,539) | (48,411,827) | (533,916,191) |
Net decrease | (1,295,026) | $(18,062,283) | (36,361,998) | $(410,363,455) |
Class R2 shares | ||||
Sold | 3,669 | $44,542 | 6,371 | $65,071 |
Distributions reinvested | 5,730 | 65,704 | 1,425 | 14,882 |
Repurchased | (12,195) | (145,153) | (18,289) | (184,126) |
Net decrease | (2,796) | $(34,907) | (10,493) | $(104,173) |
Class R6 shares | ||||
Sold | 3,409,256 | $41,045,942 | 4,503,509 | $46,050,096 |
Distributions reinvested | 2,515,129 | 28,795,195 | 781,802 | 8,123,971 |
Repurchased | (5,386,820) | (64,974,727) | (10,376,583) | (106,946,272) |
Net increase (decrease) | 537,565 | $4,866,410 | (5,091,272) | $(52,772,205) |
ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 31 |
Year Ended 3-31-22 | Year Ended 3-31-21 | |||
Shares | Amount | Shares | Amount | |
Class NAV shares | ||||
Sold | 204,103 | $2,488,455 | 954,449 | $9,185,908 |
Distributions reinvested | 1,051,033 | 12,045,777 | 931,068 | 9,486,100 |
Repurchased | (2,055,384) | (24,834,704) | (29,323,493) | (332,289,801) |
Net decrease | (800,248) | $(10,300,472) | (27,437,976) | $(313,617,793) |
Total net decrease | (1,215,817) | $(21,146,260) | (74,457,745) | $(833,898,075) |
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* | 707,245 | $7,654,844 | $276,135,113 | $(276,712,718) | $(20) | $(5,617) | $181,894 | $1,181 | $7,071,602 |
* | 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 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
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 shareholders’ interests in the Fund; |
• | The Fund did not report any breaches of the 15% limit on illiquid investments that would require reporting to the Securities and Exchange Commission; |
36 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
• | 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, as a part of their annual Rule 38a-1 assessment of the Fund’s policies and procedures, reviewed the LRMP’s control environment and deemed it to be operating effectively and in compliance with the Board approved procedures. |
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 | 191 |
Trustee and Chairperson of the Board | ||
Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); 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. | ||
James R. Boyle, Born: 1959 | 2015 | 191 |
Trustee | ||
Foresters Financial, Chief Executive Officer (since 2018) and board member (since 2017). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). | ||
Peter S. Burgess,2 Born: 1942 | 2012 | 191 |
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 (2004-2021); 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,2 Born: 1944 | 2006 | 191 |
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). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | ||
Grace K. Fey, Born: 1946 | 2012 | 191 |
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). | ||
Deborah C. Jackson, Born: 1952 | 2008 | 191 |
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). |
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 |
Steven R. Pruchansky, Born: 1944 | 2006 | 191 |
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 | 191 |
Trustee | ||
Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); 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); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020). | ||
Gregory A. Russo, Born: 1949 | 2008 | 191 |
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 | 191 |
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). |
ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 39 |
Non-Independent Trustees3 (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 |
Marianne Harrison, Born: 1963 | 2018 | 191 |
Non-Independent Trustee | ||
President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, Boston Medical Center (since 2021); 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 | Current Position(s) with 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). | |
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; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions). | |
Trevor Swanberg, Born: 1979 | 2020 |
Chief Compliance Officer | |
Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); 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); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions). |
40 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
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. |
ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 41 |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
Peter S. Burgess*
William H. Cunningham*
Grace K. Fey
Marianne Harrison†
Deborah C. Jackson
Frances G. Rathke*
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.
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200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
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MF2123385 | 320A 3/22 |
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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 |
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2 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
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ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 3 |
TOP 10 HOLDINGS AS OF 3/31/2022 (% of net assets) | |
Taiwan Semiconductor Manufacturing Company, Ltd. | 6.2 |
Tencent Holdings, Ltd. | 3.8 |
Roche Holding AG | 3.4 |
AstraZeneca PLC | 3.0 |
Nestle SA | 2.9 |
Sony Group Corp. | 2.8 |
Hoya Corp. | 2.1 |
Airbus SE | 2.1 |
ICON PLC | 2.0 |
Aon PLC, Class A | 2.0 |
TOTAL | 30.3 |
Cash and cash equivalents are not included. |
TOP 10 COUNTRIES AS OF 3/31/2022 (% of net assets) | |
United Kingdom | 12.2 |
France | 10.9 |
Switzerland | 10.0 |
China | 9.0 |
Japan | 8.9 |
Taiwan | 7.8 |
India | 5.6 |
Ireland | 5.0 |
Canada | 4.1 |
Germany | 3.2 |
TOTAL | 76.7 |
Cash and cash equivalents are not included. |
4 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
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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 | -13.03 | 8.56 | 8.57 | 50.79 | 127.66 |
Class C | -9.88 | 8.92 | 8.36 | 53.30 | 123.25 |
Class I1 | -8.19 | 10.01 | 9.48 | 61.12 | 147.42 |
Class R21,2 | -8.55 | 9.58 | 9.06 | 58.01 | 137.96 |
Class R41,2 | -8.31 | 9.87 | 9.25 | 60.09 | 142.27 |
Class R61,2 | -8.09 | 10.13 | 9.46 | 62.04 | 146.84 |
Class 11 | -8.10 | 10.09 | 9.56 | 61.71 | 149.29 |
Class NAV1,2 | -8.08 | 10.14 | 9.45 | 62.09 | 146.59 |
Index 1† | -6.16 | 8.60 | 6.70 | 51.05 | 91.29 |
Index 2† | 1.16 | 6.72 | 6.27 | 38.41 | 83.74 |
Class A | Class C | Class I | Class R2 | Class R4 | Class R6 | Class 1 | Class NAV | |
Gross (%) | 1.29 | 1.99 | 0.99 | 1.38 | 1.23 | 0.88 | 0.92 | 0.87 |
Net (%) | 1.28 | 1.98 | 0.98 | 1.37 | 1.12 | 0.88 | 0.91 | 0.86 |
6 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
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Start date | With maximum sales charge ($) | Without sales charge ($) | Index 1 ($) | Index 2 ($) | |
Class C3 | 3-31-12 | 22,325 | 22,325 | 19,129 | 18,374 |
Class I1 | 3-31-12 | 24,742 | 24,742 | 19,129 | 18,374 |
Class R21,2 | 3-31-12 | 23,796 | 23,796 | 19,129 | 18,374 |
Class R41,2 | 3-31-12 | 24,227 | 24,227 | 19,129 | 18,374 |
Class R61,2 | 3-31-12 | 24,684 | 24,684 | 19,129 | 18,374 |
Class 11 | 3-31-12 | 24,929 | 24,929 | 19,129 | 18,374 |
Class NAV1,2 | 3-31-12 | 24,659 | 24,659 | 19,129 | 18,374 |
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 |
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8 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
Account value on 10-1-2021 | Ending value on 3-31-2022 | Expenses paid during period ended 3-31-20221 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $881.60 | $6.00 | 1.28% |
Hypothetical example | 1,000.00 | 1,018.50 | 6.44 | 1.28% | |
Class C | Actual expenses/actual returns | 1,000.00 | 878.70 | 9.27 | 1.98% |
Hypothetical example | 1,000.00 | 1,015.10 | 9.95 | 1.98% | |
Class I | Actual expenses/actual returns | 1,000.00 | 883.00 | 4.60 | 0.98% |
Hypothetical example | 1,000.00 | 1,020.00 | 4.94 | 0.98% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 881.30 | 6.47 | 1.38% |
Hypothetical example | 1,000.00 | 1,018.10 | 6.94 | 1.38% | |
Class R4 | Actual expenses/actual returns | 1,000.00 | 882.50 | 5.30 | 1.13% |
Hypothetical example | 1,000.00 | 1,019.30 | 5.69 | 1.13% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 883.60 | 4.13 | 0.88% |
Hypothetical example | 1,000.00 | 1,020.50 | 4.43 | 0.88% | |
Class 1 | Actual expenses/actual returns | 1,000.00 | 883.40 | 4.32 | 0.92% |
Hypothetical example | 1,000.00 | 1,020.30 | 4.63 | 0.92% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 883.60 | 4.09 | 0.87% |
Hypothetical example | 1,000.00 | 1,020.60 | 4.38 | 0.87% |
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 97.1% | $11,189,909,999 | ||||
(Cost $10,004,731,043) | |||||
Australia 1.8% | 204,347,425 | ||||
Goodman Group | 12,022,877 | 204,347,425 | |||
Austria 1.6% | 184,695,845 | ||||
Erste Group Bank AG | 5,064,781 | 184,695,845 | |||
Belgium 0.9% | 107,339,925 | ||||
KBC Group NV | 1,496,035 | 107,339,925 | |||
Canada 4.1% | 469,639,224 | ||||
Brookfield Asset Management, Inc., Class A | 3,692,123 | 208,742,354 | |||
Dollarama, Inc. | 1,473,118 | 83,545,228 | |||
Royal Bank of Canada | 1,610,841 | 177,351,642 | |||
China 9.0% | 1,041,362,354 | ||||
ENN Energy Holdings, Ltd. | 10,677,799 | 159,482,870 | |||
Focus Media Information Technology Company, Ltd., Class A | 129,756,802 | 124,164,848 | |||
Li Ning Company, Ltd. | 22,058,196 | 187,304,030 | |||
Tencent Holdings, Ltd. | 9,497,869 | 437,798,029 | |||
Zhongsheng Group Holdings, Ltd. | 18,860,500 | 132,612,577 | |||
Denmark 1.3% | 155,509,937 | ||||
DSV A/S | 811,403 | 155,509,937 | |||
France 10.9% | 1,251,645,878 | ||||
Airbus SE | 1,978,419 | 238,734,108 | |||
Bureau Veritas SA | 6,194,240 | 176,604,207 | |||
Capgemini SE | 910,000 | 201,932,926 | |||
Publicis Groupe SA | 2,057,905 | 124,902,454 | |||
Safran SA | 1,600,480 | 188,434,344 | |||
Schneider Electric SE | 1,235,872 | 207,492,097 | |||
Thales SA | 906,652 | 113,545,742 | |||
Germany 3.2% | 373,471,961 | ||||
Brenntag SE | 2,263,278 | 182,492,498 | |||
Siemens AG | 1,379,231 | 190,979,463 | |||
Hong Kong 2.1% | 241,287,790 | ||||
CK Asset Holdings, Ltd. | 2,467,000 | 16,863,008 | |||
Hong Kong Exchanges & Clearing, Ltd. | 4,787,900 | 224,424,782 | |||
India 5.6% | 641,577,041 | ||||
Bharti Airtel, Ltd. (A) | 20,805,965 | 206,839,953 | |||
Bharti Airtel, Ltd., Partly Paid Up Shares (A) | 1,078,696 | 5,594,232 | |||
Housing Development Finance Corp., Ltd. | 4,235,170 | 132,120,961 |
10 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
India (continued) | |||||
Infosys, Ltd. | 4,779,348 | $119,772,307 | |||
ITC, Ltd. | 53,853,930 | 177,249,588 | |||
Indonesia 1.5% | 177,651,975 | ||||
Bank Rakyat Indonesia Persero Tbk PT | 232,536,180 | 75,105,637 | |||
Telkom Indonesia Persero Tbk PT | 322,319,400 | 102,546,338 | |||
Ireland 5.0% | 578,260,889 | ||||
Accenture PLC, Class A | 657,837 | 221,842,372 | |||
AerCap Holdings NV (A) | 2,615,738 | 131,519,307 | |||
ICON PLC (A) | 924,674 | 224,899,210 | |||
Italy 1.1% | 132,238,818 | ||||
Moncler SpA | 2,383,446 | 132,238,818 | |||
Japan 8.9% | 1,023,837,680 | ||||
Astellas Pharma, Inc. | 8,086,800 | 126,355,407 | |||
Food & Life Companies, Ltd. | 4,066,500 | 113,422,863 | |||
Hoya Corp. | 2,110,000 | 240,451,139 | |||
KDDI Corp. | 6,698,200 | 219,611,490 | |||
Sony Group Corp. | 3,149,400 | 323,996,781 | |||
Netherlands 2.4% | 273,563,686 | ||||
NXP Semiconductors NV | 721,547 | 133,543,919 | |||
Wolters Kluwer NV | 1,313,420 | 140,019,767 | |||
Portugal 1.7% | 191,254,391 | ||||
Jeronimo Martins SGPS SA | 7,972,231 | 191,254,391 | |||
Singapore 1.2% | 140,783,429 | ||||
United Overseas Bank, Ltd. | 6,016,900 | 140,783,429 | |||
Sweden 2.8% | 327,538,048 | ||||
Sandvik AB | 8,466,321 | 179,848,649 | |||
Volvo AB, B Shares | 7,916,732 | 147,689,399 | |||
Switzerland 10.0% | 1,148,948,226 | ||||
Julius Baer Group, Ltd. | 2,097,431 | 121,429,747 | |||
Nestle SA | 2,609,053 | 339,225,585 | |||
Novartis AG | 1,876,451 | 164,736,551 | |||
Roche Holding AG | 985,869 | 390,070,763 | |||
UBS Group AG | 6,830,944 | 133,485,580 | |||
Taiwan 7.8% | 897,992,741 | ||||
MediaTek, Inc. | 5,921,364 | 184,276,029 | |||
Taiwan Semiconductor Manufacturing Company, Ltd. | 34,792,501 | 713,716,712 | |||
United Kingdom 12.2% | 1,402,292,689 | ||||
Allfunds Group PLC (A) | 7,486,423 | 85,757,319 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 11 |
Shares | Value | ||||
United Kingdom (continued) | |||||
Anglo American PLC | 3,831,686 | $199,102,948 | |||
AstraZeneca PLC | 2,643,411 | 350,549,761 | |||
B&M European Value Retail SA | 22,896,969 | 160,193,679 | |||
British American Tobacco PLC | 4,641,076 | 194,911,713 | |||
GlaxoSmithKline PLC | 6,656,905 | 144,034,726 | |||
Intermediate Capital Group PLC | 6,066,427 | 140,844,308 | |||
WPP PLC | 9,695,727 | 126,898,235 | |||
United States 2.0% | 224,670,047 | ||||
Aon PLC, Class A | 689,955 | 224,670,047 | |||
Par value^ | Value | ||||
Short-term investments 2.7% | $310,900,000 | ||||
(Cost $310,900,000) | |||||
Repurchase agreement 2.7% | 310,900,000 | ||||
Bank of America Corp. Tri-Party Repurchase Agreement dated 3-31-22 at 0.300% to be repurchased at $119,300,994 on 4-1-22, collateralized by $122,675,130 Government National Mortgage Association, 3.000% due 3-20-52 (valued at $121,686,000) | 119,300,000 | 119,300,000 | |||
Societe Generale SA Tri-Party Repurchase Agreement dated 3-31-22 at 0.295% to be repurchased at $191,601,570 on 4-1-22, collateralized by $1,546,548 Federal Home Loan Mortgage Corp., 2.500% - 5.342% due 11-1-30 to 12-1-50 (valued at $1,551,032), $42,571,439 Federal National Mortgage Association, 1.468% - 4.500% due 11-1-26 to 3-1-52 (valued at $42,697,462), $23,227,881 Government National Mortgage Association, 1.875% - 3.000% due 5-20-27 to 4-20-49 (valued at $23,043,849), $243,000 U.S. Treasury Bills, 0.000% due 4-5-22 to 6-28-22 (valued at $242,995), $94,647,508 U.S. Treasury Bonds, 3.875% - 6.375% due 8-15-23 to 8-15-40 (valued at $121,373,000) and $6,556,500 U.S. Treasury Notes, 0.375% - 2.875% due 5-31-23 to 3-31-29 (valued at $6,523,699) | 191,600,000 | 191,600,000 |
Total investments (Cost $10,315,631,043) 99.8% | $11,500,809,999 | ||||
Other assets and liabilities, net 0.2% | 19,949,010 | ||||
Total net assets 100.0% | $11,520,759,009 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
^All par values are denominated in U.S. dollars unless otherwise indicated. | |
Security Abbreviations and Legend | |
(A) | Non-income producing security. |
12 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Assets | |
Unaffiliated investments, at value (Cost $10,315,631,043) | $11,500,809,999 |
Cash | 37,734 |
Foreign currency, at value (Cost $761,489) | 761,013 |
Dividends and interest receivable | 43,331,095 |
Receivable for fund shares sold | 18,661,458 |
Receivable for investments sold | 81,408,394 |
Other assets | 513,317 |
Total assets | 11,645,523,010 |
Liabilities | |
Foreign capital gains tax payable | 8,346,844 |
Payable for investments purchased | 98,349,455 |
Payable for fund shares repurchased | 14,785,723 |
Payable to affiliates | |
Accounting and legal services fees | 381,584 |
Transfer agent fees | 787,773 |
Distribution and service fees | 11,687 |
Trustees’ fees | 12,136 |
Other liabilities and accrued expenses | 2,088,799 |
Total liabilities | 124,764,001 |
Net assets | $11,520,759,009 |
Net assets consist of | |
Paid-in capital | $9,953,214,684 |
Total distributable earnings (loss) | 1,567,544,325 |
Net assets | $11,520,759,009 |
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 ($642,421,468 ÷ 21,421,816 shares)1 | $29.99 |
Class C ($170,710,535 ÷ 5,904,665 shares)1 | $28.91 |
Class I ($7,375,609,559 ÷ 245,099,922 shares) | $30.09 |
Class R2 ($38,365,459 ÷ 1,278,873 shares) | $30.00 |
Class R4 ($44,848,783 ÷ 1,491,201 shares) | $30.08 |
Class R6 ($2,333,473,336 ÷ 77,455,954 shares) | $30.13 |
Class 1 ($71,184,985 ÷ 2,366,909 shares) | $30.08 |
Class NAV ($844,144,884 ÷ 28,066,682 shares) | $30.08 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $31.57 |
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 International Growth Fund | 13 |
Investment income | |
Dividends | $242,918,337 |
Interest | 86,951 |
Securities lending | 1,243,767 |
Less foreign taxes withheld | (24,836,315) |
Total investment income | 219,412,740 |
Expenses | |
Investment management fees | 107,485,680 |
Distribution and service fees | 4,767,144 |
Accounting and legal services fees | 1,754,353 |
Transfer agent fees | 11,178,123 |
Trustees’ fees | 223,987 |
Custodian fees | 5,065,631 |
State registration fees | 291,971 |
Printing and postage | 518,486 |
Professional fees | 423,788 |
Other | 476,017 |
Total expenses | 132,185,180 |
Less expense reductions | (1,262,899) |
Net expenses | 130,922,281 |
Net investment income | 88,490,459 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | 1,456,092,5831 |
Affiliated investments | (4,560) |
1,456,088,023 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | (2,602,084,959) |
Affiliated investments | 676 |
(2,602,084,283) | |
Net realized and unrealized loss | (1,145,996,260) |
Decrease in net assets from operations | $(1,057,505,801) |
1 | Net of foreign taxes of $(8,503,577). |
14 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Year ended 3-31-22 | Year ended 3-31-21 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $88,490,459 | $15,010,934 |
Net realized gain | 1,456,088,023 | 1,176,128,200 |
Change in net unrealized appreciation (depreciation) | (2,602,084,283) | 3,083,964,837 |
Increase (decrease) in net assets resulting from operations | (1,057,505,801) | 4,275,103,971 |
Distributions to shareholders | ||
From earnings | ||
Class A | (98,141,315) | — |
Class C | (27,915,106) | — |
Class I | (1,189,339,940) | (16,083,934) |
Class R2 | (6,056,297) | — |
Class R4 | (6,621,487) | (13,891) |
Class R6 | (365,182,359) | (6,627,242) |
Class 1 | (11,223,078) | (221,773) |
Class NAV | (132,920,326) | (3,455,885) |
Total distributions | (1,837,399,908) | (26,402,725) |
From fund share transactions | 1,666,677,236 | 801,844,792 |
Total increase (decrease) | (1,228,228,473) | 5,050,546,038 |
Net assets | ||
Beginning of year | 12,748,987,482 | 7,698,441,444 |
End of year | $11,520,759,009 | $12,748,987,482 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 15 |
CLASS A SHARES Period ended | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 |
Per share operating performance | ||||||
Net asset value, beginning of period | $37.88 | $24.58 | $26.79 | $28.52 | $28.43 | $21.69 |
Net investment income (loss)2 | 0.14 | (0.04) | 0.13 | 0.19 | 0.02 | 0.11 |
Net realized and unrealized gain (loss) on investments | (2.80) | 13.34 | (2.22) | (1.31) | 0.07 | 6.69 |
Total from investment operations | (2.66) | 13.30 | (2.09) | (1.12) | 0.09 | 6.80 |
Less distributions | ||||||
From net investment income | (0.17) | — | (0.12) | (0.15) | — | (0.06) |
From net realized gain | (5.06) | — | — | (0.46) | — | — |
Total distributions | (5.23) | — | (0.12) | (0.61) | — | (0.06) |
Net asset value, end of period | $29.99 | $37.88 | $24.58 | $26.79 | $28.52 | $28.43 |
Total return (%)3,4 | (8.46) | 54.11 | (7.87) | (3.69) | 0.325 | 31.38 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $642 | $670 | $456 | $609 | $827 | $803 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.29 | 1.29 | 1.30 | 1.28 | 1.296 | 1.29 |
Expenses including reductions | 1.28 | 1.28 | 1.29 | 1.28 | 1.286 | 1.28 |
Net investment income (loss) | 0.37 | (0.14) | 0.45 | 0.72 | 0.696 | 0.41 |
Portfolio turnover (%) | 78 | 78 | 80 | 98 | 4 | 65 |
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. |
16 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS C SHARES Period ended | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 |
Per share operating performance | ||||||
Net asset value, beginning of period | $36.78 | $24.03 | $26.27 | $28.00 | $27.93 | $21.40 |
Net investment loss2 | (0.12) | (0.26) | (0.06) | —3 | —3 | (0.09) |
Net realized and unrealized gain (loss) on investments | (2.69) | 13.01 | (2.18) | (1.27) | 0.07 | 6.62 |
Total from investment operations | (2.81) | 12.75 | (2.24) | (1.27) | 0.07 | 6.53 |
Less distributions | ||||||
From net realized gain | (5.06) | — | — | (0.46) | — | — |
Total distributions | (5.06) | — | — | (0.46) | — | — |
Net asset value, end of period | $28.91 | $36.78 | $24.03 | $26.27 | $28.00 | $27.93 |
Total return (%)4,5 | (9.10) | 53.06 | (8.53) | (4.37) | 0.256 | 30.51 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $171 | $224 | $181 | $263 | $349 | $333 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.99 | 1.99 | 2.00 | 1.98 | 1.997 | 1.99 |
Expenses including reductions | 1.98 | 1.98 | 1.99 | 1.98 | 1.987 | 1.98 |
Net investment loss | (0.32) | (0.81) | (0.24) | (0.01) | (0.01)7 | (0.33) |
Portfolio turnover (%) | 78 | 78 | 80 | 98 | 4 | 65 |
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. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 17 |
CLASS I SHARES Period ended | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 |
Per share operating performance | ||||||
Net asset value, beginning of period | $38.00 | $24.63 | $26.84 | $28.59 | $28.49 | $21.72 |
Net investment income2 | 0.25 | 0.05 | 0.21 | 0.24 | 0.02 | 0.18 |
Net realized and unrealized gain (loss) on investments | (2.81) | 13.40 | (2.22) | (1.30) | 0.08 | 6.72 |
Total from investment operations | (2.56) | 13.45 | (2.01) | (1.06) | 0.10 | 6.90 |
Less distributions | ||||||
From net investment income | (0.29) | (0.08) | (0.20) | (0.23) | — | (0.13) |
From net realized gain | (5.06) | — | — | (0.46) | — | — |
Total distributions | (5.35) | (0.08) | (0.20) | (0.69) | — | (0.13) |
Net asset value, end of period | $30.09 | $38.00 | $24.63 | $26.84 | $28.59 | $28.49 |
Total return (%)3 | (8.19) | 54.62 | (7.61) | (3.45) | 0.354 | 31.82 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $7,376 | $8,176 | $4,677 | $5,576 | $5,631 | $5,424 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.99 | 0.99 | 1.00 | 1.00 | 1.005 | 0.99 |
Expenses including reductions | 0.98 | 0.98 | 0.99 | 0.99 | 0.995 | 0.98 |
Net investment income | 0.66 | 0.14 | 0.74 | 0.89 | 0.985 | 0.70 |
Portfolio turnover (%) | 78 | 78 | 80 | 98 | 4 | 65 |
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. |
18 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R2 SHARES Period ended | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 |
Per share operating performance | ||||||
Net asset value, beginning of period | $37.89 | $24.60 | $26.82 | $28.55 | $28.45 | $21.71 |
Net investment income (loss)2 | 0.11 | (0.08) | 0.12 | 0.15 | 0.02 | 0.13 |
Net realized and unrealized gain (loss) on investments | (2.81) | 13.37 | (2.25) | (1.30) | 0.08 | 6.65 |
Total from investment operations | (2.70) | 13.29 | (2.13) | (1.15) | 0.10 | 6.78 |
Less distributions | ||||||
From net investment income | (0.13) | — | (0.09) | (0.12) | — | (0.04) |
From net realized gain | (5.06) | — | — | (0.46) | — | — |
Total distributions | (5.19) | — | (0.09) | (0.58) | — | (0.04) |
Net asset value, end of period | $30.00 | $37.89 | $24.60 | $26.82 | $28.55 | $28.45 |
Total return (%)3 | (8.55) | 54.02 | (7.98) | (3.81) | 0.354 | 31.23 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $38 | $50 | $30 | $43 | $43 | $37 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.38 | 1.38 | 1.39 | 1.38 | 1.325 | 1.40 |
Expenses including reductions | 1.37 | 1.37 | 1.38 | 1.37 | 1.315 | 1.39 |
Net investment income (loss) | 0.29 | (0.23) | 0.41 | 0.54 | 0.715 | 0.49 |
Portfolio turnover (%) | 78 | 78 | 80 | 98 | 4 | 65 |
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 R4 SHARES Period ended | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 |
Per share operating performance | ||||||
Net asset value, beginning of period | $37.98 | $24.62 | $26.84 | $28.57 | $28.48 | $21.72 |
Net investment income (loss)2 | 0.20 | (0.05) | 0.16 | 0.22 | 0.02 | 0.17 |
Net realized and unrealized gain (loss) on investments | (2.81) | 13.46 | (2.22) | (1.30) | 0.07 | 6.69 |
Total from investment operations | (2.61) | 13.41 | (2.06) | (1.08) | 0.09 | 6.86 |
Less distributions | ||||||
From net investment income | (0.23) | (0.05) | (0.16) | (0.19) | — | (0.10) |
From net realized gain | (5.06) | — | — | (0.46) | — | — |
Total distributions | (5.29) | (0.05) | (0.16) | (0.65) | — | (0.10) |
Net asset value, end of period | $30.08 | $37.98 | $24.62 | $26.84 | $28.57 | $28.48 |
Total return (%)3 | (8.31) | 54.46 | (7.77) | (3.53) | 0.324 | 31.60 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $45 | $49 | $7 | $8 | $8 | $9 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.22 | 1.21 | 1.24 | 1.24 | 1.255 | 1.24 |
Expenses including reductions | 1.11 | 1.10 | 1.13 | 1.13 | 1.145 | 1.13 |
Net investment income (loss) | 0.54 | (0.13) | 0.58 | 0.80 | 0.835 | 0.64 |
Portfolio turnover (%) | 78 | 78 | 80 | 98 | 4 | 65 |
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 R6 SHARES Period ended | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 |
Per share operating performance | ||||||
Net asset value, beginning of period | $38.04 | $24.65 | $26.86 | $28.61 | $28.50 | $21.73 |
Net investment income2 | 0.29 | 0.08 | 0.24 | 0.27 | 0.03 | 0.05 |
Net realized and unrealized gain (loss) on investments | (2.81) | 13.42 | (2.22) | (1.30) | 0.08 | 6.88 |
Total from investment operations | (2.52) | 13.50 | (1.98) | (1.03) | 0.11 | 6.93 |
Less distributions | ||||||
From net investment income | (0.33) | (0.11) | (0.23) | (0.26) | — | (0.16) |
From net realized gain | (5.06) | — | — | (0.46) | — | — |
Total distributions | (5.39) | (0.11) | (0.23) | (0.72) | — | (0.16) |
Net asset value, end of period | $30.13 | $38.04 | $24.65 | $26.86 | $28.61 | $28.50 |
Total return (%)3 | (8.09) | 54.79 | (7.52) | (3.32) | 0.394 | 31.91 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $2,333 | $2,441 | $1,434 | $1,836 | $1,795 | $1,702 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.88 | 0.88 | 0.89 | 0.89 | 0.895 | 0.90 |
Expenses including reductions | 0.87 | 0.88 | 0.88 | 0.88 | 0.885 | 0.89 |
Net investment income | 0.78 | 0.25 | 0.85 | 1.01 | 1.095 | 0.16 |
Portfolio turnover (%) | 78 | 78 | 80 | 98 | 4 | 65 |
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 1 SHARES Period ended | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 |
Per share operating performance | ||||||
Net asset value, beginning of period | $37.98 | $24.62 | $26.83 | $28.57 | $28.47 | $21.71 |
Net investment income2 | 0.28 | 0.08 | 0.23 | 0.28 | 0.03 | 0.21 |
Net realized and unrealized gain (loss) on investments | (2.80) | 13.38 | (2.22) | (1.30) | 0.07 | 6.70 |
Total from investment operations | (2.52) | 13.46 | (1.99) | (1.02) | 0.10 | 6.91 |
Less distributions | ||||||
From net investment income | (0.32) | (0.10) | (0.22) | (0.26) | — | (0.15) |
From net realized gain | (5.06) | — | — | (0.46) | — | — |
Total distributions | (5.38) | (0.10) | (0.22) | (0.72) | — | (0.15) |
Net asset value, end of period | $30.08 | $37.98 | $24.62 | $26.83 | $28.57 | $28.47 |
Total return (%)3 | (8.10) | 54.68 | (7.55) | (3.32) | 0.354 | 31.86 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $71 | $83 | $59 | $78 | $93 | $91 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.92 | 0.92 | 0.93 | 0.92 | 0.925 | 0.93 |
Expenses including reductions | 0.91 | 0.91 | 0.92 | 0.92 | 0.925 | 0.92 |
Net investment income | 0.74 | 0.23 | 0.82 | 1.05 | 1.065 | 0.79 |
Portfolio turnover (%) | 78 | 78 | 80 | 98 | 4 | 65 |
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 NAV SHARES Period ended | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-181 | 2-28-18 |
Per share operating performance | ||||||
Net asset value, beginning of period | $37.99 | $24.62 | $26.82 | $28.57 | $28.47 | $21.71 |
Net investment income2 | 0.30 | 0.10 | 0.24 | 0.29 | 0.03 | 0.23 |
Net realized and unrealized gain (loss) on investments | (2.81) | 13.38 | (2.21) | (1.31) | 0.07 | 6.69 |
Total from investment operations | (2.51) | 13.48 | (1.97) | (1.02) | 0.10 | 6.92 |
Less distributions | ||||||
From net investment income | (0.34) | (0.11) | (0.23) | (0.27) | — | (0.16) |
From net realized gain | (5.06) | — | — | (0.46) | — | — |
Total distributions | (5.40) | (0.11) | (0.23) | (0.73) | — | (0.16) |
Net asset value, end of period | $30.08 | $37.99 | $24.62 | $26.82 | $28.57 | $28.47 |
Total return (%)3 | (8.08) | 54.78 | (7.51) | (3.27) | 0.354 | 31.91 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $844 | $1,057 | $854 | $1,028 | $1,136 | $1,151 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.87 | 0.87 | 0.88 | 0.87 | 0.875 | 0.88 |
Expenses including reductions | 0.86 | 0.86 | 0.87 | 0.87 | 0.875 | 0.87 |
Net investment income | 0.80 | 0.30 | 0.87 | 1.06 | 1.105 | 0.89 |
Portfolio turnover (%) | 78 | 78 | 80 | 98 | 4 | 65 |
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 |
24 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT |
Total value at 3-31-22 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Australia | $204,347,425 | — | $204,347,425 | — |
Austria | 184,695,845 | — | 184,695,845 | — |
Belgium | 107,339,925 | — | 107,339,925 | — |
Canada | 469,639,224 | $469,639,224 | — | — |
China | 1,041,362,354 | — | 1,041,362,354 | — |
Denmark | 155,509,937 | — | 155,509,937 | — |
France | 1,251,645,878 | — | 1,251,645,878 | — |
Germany | 373,471,961 | — | 373,471,961 | — |
Hong Kong | 241,287,790 | — | 241,287,790 | — |
India | 641,577,041 | — | 641,577,041 | — |
Indonesia | 177,651,975 | — | 177,651,975 | — |
Ireland | 578,260,889 | 578,260,889 | — | — |
Italy | 132,238,818 | — | 132,238,818 | — |
Japan | 1,023,837,680 | — | 1,023,837,680 | — |
Netherlands | 273,563,686 | 133,543,919 | 140,019,767 | — |
Portugal | 191,254,391 | — | 191,254,391 | — |
Singapore | 140,783,429 | — | 140,783,429 | — |
Sweden | 327,538,048 | — | 327,538,048 | — |
ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 25 |
Total value at 3-31-22 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Switzerland | 1,148,948,226 | — | $1,148,948,226 | — |
Taiwan | 897,992,741 | — | 897,992,741 | — |
United Kingdom | 1,402,292,689 | — | 1,402,292,689 | — |
United States | 224,670,047 | $224,670,047 | — | — |
Short-term investments | 310,900,000 | — | 310,900,000 | — |
Total investments in securities | $11,500,809,999 | $1,406,114,079 | $10,094,695,920 | — |
26 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 27 |
March 31, 2022 | March 31, 2021 | |
Ordinary income | $240,643,249 | $26,402,725 |
Long-term capital gains | 1,596,756,659 | — |
Total | $1,837,399,908 | $26,402,725 |
28 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT |
Class | Expense reduction |
Class A | $65,638 |
Class C | 19,570 |
Class I | 784,392 |
Class R2 | 4,323 |
Class R4 | 4,533 |
Class | Expense reduction |
Class R6 | $237,485 |
Class 1 | 7,556 |
Class NAV | 89,554 |
Total | $1,213,051 |
ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 29 |
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 1 | 0.05% | — |
30 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT |
Class | Distribution and service fees | Transfer agent fees |
Class A | $2,165,283 | $825,234 |
Class C | 2,153,469 | 245,958 |
Class I | — | 9,860,835 |
Class R2 | 237,514 | 4,352 |
Class R4 | 169,320 | 4,527 |
Class R6 | — | 237,217 |
Class 1 | 41,558 | — |
Total | $4,767,144 | $11,178,123 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Borrower | $157,928,571 | 7 | 0.540% | ($16,583) |
Year Ended 3-31-22 | Year Ended 3-31-21 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 5,253,683 | $196,670,262 | 4,314,116 | $148,515,449 |
Distributions reinvested | 2,823,464 | 94,529,556 | — | — |
Repurchased | (4,340,985) | (158,090,271) | (5,187,207) | (167,089,240) |
Net increase (decrease) | 3,736,162 | $133,109,547 | (873,091) | $(18,573,791) |
Class B shares | ||||
Repurchased | — | — | (15,305) | $(474,248) |
Net decrease | — | — | (15,305) | $(474,248) |
Class C shares | ||||
Sold | 292,252 | $10,738,054 | 286,774 | $9,643,678 |
Distributions reinvested | 811,423 | 26,241,424 | — | — |
Repurchased | (1,288,020) | (45,807,208) | (1,714,528) | (53,564,881) |
Net decrease | (184,345) | $(8,827,730) | (1,427,754) | $(43,921,203) |
ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 31 |
Year Ended 3-31-22 | Year Ended 3-31-21 | |||
Shares | Amount | Shares | Amount | |
Class I shares | ||||
Sold | 64,526,823 | $2,362,927,312 | 76,472,105 | $2,482,696,311 |
Distributions reinvested | 30,801,555 | 1,033,700,185 | 384,989 | 13,909,646 |
Repurchased | (65,386,239) | (2,317,490,127) | (51,587,007) | (1,660,981,670) |
Net increase | 29,942,139 | $1,079,137,370 | 25,270,087 | $835,624,287 |
Class R2 shares | ||||
Sold | 204,886 | $7,553,105 | 539,490 | $19,250,334 |
Distributions reinvested | 165,508 | 5,544,525 | — | — |
Repurchased | (410,303) | (15,409,480) | (425,995) | (13,201,543) |
Net increase (decrease) | (39,909) | $(2,311,850) | 113,495 | $6,048,791 |
Class R4 shares | ||||
Sold | 199,618 | $7,093,777 | 1,089,847 | $40,514,513 |
Distributions reinvested | 197,303 | 6,621,487 | 385 | 13,891 |
Repurchased | (184,528) | (6,905,659) | (104,147) | (3,567,009) |
Net increase | 212,393 | $6,809,605 | 986,085 | $36,961,395 |
Class R6 shares | ||||
Sold | 17,830,567 | $657,899,168 | 19,710,307 | $683,359,061 |
Distributions reinvested | 10,788,979 | 362,401,816 | 182,317 | 6,592,599 |
Repurchased | (15,345,428) | (551,328,996) | (13,883,531) | (463,039,348) |
Net increase | 13,274,118 | $468,971,988 | 6,009,093 | $226,912,312 |
Class 1 shares | ||||
Sold | 204,864 | $7,854,829 | 288,940 | $9,867,603 |
Distributions reinvested | 334,618 | 11,223,078 | 6,142 | 221,773 |
Repurchased | (344,923) | (12,992,669) | (514,071) | (17,179,225) |
Net increase (decrease) | 194,559 | $6,085,238 | (218,989) | $(7,089,849) |
Class NAV shares | ||||
Sold | 1,185,055 | $41,937,327 | 4,051,520 | $120,286,768 |
Distributions reinvested | 3,963,039 | 132,920,326 | 95,704 | 3,455,885 |
Repurchased | (4,907,059) | (191,154,585) | (11,021,377) | (357,385,555) |
Net increase (decrease) | 241,035 | $(16,296,932) | (6,874,153) | $(233,642,902) |
Total net increase | 47,376,152 | $1,666,677,236 | 22,969,468 | $801,844,792 |
32 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT |
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* | — | $190,573,255 | $1,027,253,258 | $(1,217,822,629) | $(4,560) | $676 | $1,243,767 | — | — |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 33 |
34 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH 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 shareholders’ interests in the Fund; |
• | The Fund did not report any breaches of the 15% limit on illiquid investments that would require reporting to the Securities and Exchange Commission; |
36 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
• | 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, as a part of their annual Rule 38a-1 assessment of the Fund’s policies and procedures, reviewed the LRMP’s control environment and deemed it to be operating effectively and in compliance with the Board approved procedures. |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH 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 | 191 |
Trustee and Chairperson of the Board | ||
Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); 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. | ||
James R. Boyle, Born: 1959 | 2015 | 191 |
Trustee | ||
Foresters Financial, Chief Executive Officer (since 2018) and board member (since 2017). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). | ||
Peter S. Burgess,2 Born: 1942 | 2012 | 191 |
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 (2004-2021); 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,2 Born: 1944 | 2006 | 191 |
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). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | ||
Grace K. Fey, Born: 1946 | 2012 | 191 |
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). | ||
Deborah C. Jackson, Born: 1952 | 2008 | 191 |
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). |
38 | 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 |
Steven R. Pruchansky, Born: 1944 | 2006 | 191 |
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 | 191 |
Trustee | ||
Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); 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); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020). | ||
Gregory A. Russo, Born: 1949 | 2008 | 191 |
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 | 191 |
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). |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 39 |
Non-Independent Trustees3 (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 |
Marianne Harrison, Born: 1963 | 2018 | 191 |
Non-Independent Trustee | ||
President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, Boston Medical Center (since 2021); 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 | Current Position(s) with 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). | |
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; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions). | |
Trevor Swanberg, Born: 1979 | 2020 |
Chief Compliance Officer | |
Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); 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); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions). |
40 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
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. |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 41 |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
Peter S. Burgess*
William H. Cunningham*
Grace K. Fey
Marianne Harrison†
Deborah C. Jackson
Frances G. Rathke*
Gregory A. Russo
President
Chief Financial Officer
Treasurer
Secretary and Chief Legal Officer
Chief Compliance Officer
Alvaro Llavero
Zhaohuan (Terry) Tian, 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 INTERNATIONAL GROWTH 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.
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200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
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MF2123387 | 87A 3/22 |
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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 |
![](https://capedge.com/proxy/N-CSR/0001683863-22-004725/img9308c93c6.gif)
2 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
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ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 3 |
TOP 10 HOLDINGS AS OF 3/31/2022 (% of net assets) | |
Apple, Inc. | 14.1 |
Microsoft Corp. | 12.8 |
Alphabet, Inc., Class A | 8.3 |
Amazon.com, Inc. | 7.8 |
Visa, Inc., Class A | 3.3 |
Mastercard, Inc., Class A | 2.7 |
Accenture PLC, Class A | 2.3 |
S&P Global, Inc. | 2.2 |
Eli Lilly & Company | 1.9 |
Palo Alto Networks, Inc. | 1.8 |
TOTAL | 57.2 |
Cash and cash equivalents are not included. |
4 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
![](https://capedge.com/proxy/N-CSR/0001683863-22-004725/img25fa3e808.gif)
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 | 10-year | 5-year | 10-year | |
Class A | 4.56 | 16.72 | 14.02 | 116.63 | 271.37 |
Class C1 | 8.30 | 17.06 | 13.96 | 119.77 | 269.55 |
Class I2 | 10.33 | 18.21 | 14.93 | 130.84 | 302.23 |
Class R21,2 | 9.89 | 17.76 | 14.51 | 126.48 | 287.65 |
Class R41,2 | 10.27 | 18.09 | 14.72 | 129.63 | 294.71 |
Class R61,2 | 10.43 | 18.34 | 14.91 | 132.08 | 301.40 |
Class NAV2 | 10.48 | 18.37 | 15.10 | 132.36 | 308.16 |
Index† | 14.98 | 20.88 | 17.04 | 158.14 | 382.40 |
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 |
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Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class C1,3 | 3-31-12 | 36,955 | 36,955 | 48,240 |
Class I2 | 3-31-12 | 40,223 | 40,223 | 48,240 |
Class R21,2 | 3-31-12 | 38,765 | 38,765 | 48,240 |
Class R41,2 | 3-31-12 | 39,471 | 39,471 | 48,240 |
Class R61,2 | 3-31-12 | 40,140 | 40,140 | 48,240 |
Class NAV2 | 3-31-12 | 40,816 | 40,816 | 48,240 |
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 |
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8 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
Account value on 10-1-2021 | Ending value on 3-31-2022 | Expenses paid during period ended 3-31-20221 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $998.10 | $4.73 | 0.95% |
Hypothetical example | 1,000.00 | 1,020.20 | 4.78 | 0.95% | |
Class C | Actual expenses/actual returns | 1,000.00 | 994.70 | 8.45 | 1.70% |
Hypothetical example | 1,000.00 | 1,016.50 | 8.55 | 1.70% | |
Class I | Actual expenses/actual returns | 1,000.00 | 999.70 | 3.49 | 0.70% |
Hypothetical example | 1,000.00 | 1,021.40 | 3.53 | 0.70% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 997.70 | 5.43 | 1.09% |
Hypothetical example | 1,000.00 | 1,019.50 | 5.49 | 1.09% | |
Class R4 | Actual expenses/actual returns | 1,000.00 | 998.90 | 3.94 | 0.79% |
Hypothetical example | 1,000.00 | 1,021.00 | 3.98 | 0.79% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 999.80 | 2.94 | 0.59% |
Hypothetical example | 1,000.00 | 1,022.00 | 2.97 | 0.59% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 1,000.20 | 2.89 | 0.58% |
Hypothetical example | 1,000.00 | 1,022.00 | 2.92 | 0.58% |
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% | $1,246,384,643 | ||||
(Cost $820,498,530) | |||||
Communication services 10.3% | 128,854,296 | ||||
Entertainment 1.0% | |||||
Electronic Arts, Inc. | 97,141 | 12,289,308 | |||
Interactive media and services 8.3% | |||||
Alphabet, Inc., Class A (A) | 37,506 | 104,317,313 | |||
Media 1.0% | |||||
Omnicom Group, Inc. | 144,294 | 12,247,675 | |||
Consumer discretionary 11.8% | 146,899,795 | ||||
Hotels, restaurants and leisure 1.0% | |||||
Airbnb, Inc., Class A (A) | 72,365 | 12,429,412 | |||
Internet and direct marketing retail 7.8% | |||||
Amazon.com, Inc. (A) | 29,841 | 97,280,168 | |||
Specialty retail 3.0% | |||||
Lowe’s Companies, Inc. | 95,111 | 19,230,493 | |||
Ulta Beauty, Inc. (A) | 45,100 | 17,959,722 | |||
Financials 12.8% | 159,992,288 | ||||
Capital markets 8.1% | |||||
Ares Management Corp., Class A | 171,375 | 13,920,791 | |||
LPL Financial Holdings, Inc. | 80,618 | 14,727,296 | |||
MSCI, Inc. | 27,958 | 14,059,519 | |||
S&P Global, Inc. | 67,754 | 27,791,336 | |||
The Blackstone Group, Inc. | 140,325 | 17,812,856 | |||
The Charles Schwab Corp. | 154,328 | 13,011,394 | |||
Consumer finance 1.4% | |||||
American Express Company | 90,634 | 16,948,558 | |||
Insurance 3.3% | |||||
Aon PLC, Class A | 48,679 | 15,851,343 | |||
Arthur J. Gallagher & Company | 75,021 | 13,098,667 | |||
The Progressive Corp. | 112,032 | 12,770,528 | |||
Health care 8.0% | 99,689,978 | ||||
Biotechnology 1.4% | |||||
Vertex Pharmaceuticals, Inc. (A) | 69,705 | 18,190,914 | |||
Health care providers and services 4.7% | |||||
Anthem, Inc. | 25,727 | 12,637,617 | |||
HCA Healthcare, Inc. | 61,027 | 15,294,587 | |||
Humana, Inc. | 27,325 | 11,891,020 | |||
UnitedHealth Group, Inc. | 36,044 | 18,381,359 |
10 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Health care (continued) | |||||
Pharmaceuticals 1.9% | |||||
Eli Lilly & Company | 81,344 | $23,294,481 | |||
Industrials 4.1% | 51,172,525 | ||||
Aerospace and defense 1.0% | |||||
L3Harris Technologies, Inc. | 48,742 | 12,110,925 | |||
Building products 2.1% | |||||
Builders FirstSource, Inc. (A) | 162,907 | 10,514,018 | |||
Johnson Controls International PLC | 233,038 | 15,280,302 | |||
Electrical equipment 1.0% | |||||
Acuity Brands, Inc. | 70,086 | 13,267,280 | |||
Information technology 49.4% | 615,613,354 | ||||
Communications equipment 2.0% | |||||
Cisco Systems, Inc. | 220,382 | 12,288,500 | |||
F5, Inc. (A) | 60,317 | 12,603,237 | |||
Electronic equipment, instruments and components 1.3% | |||||
CDW Corp. | 93,389 | 16,706,358 | |||
IT services 11.8% | |||||
Accenture PLC, Class A | 83,485 | 28,153,647 | |||
Cognizant Technology Solutions Corp., Class A | 140,137 | 12,566,085 | |||
Gartner, Inc. (A) | 62,652 | 18,636,464 | |||
GoDaddy, Inc., Class A (A) | 153,591 | 12,855,567 | |||
Mastercard, Inc., Class A | 96,083 | 34,338,143 | |||
Visa, Inc., Class A | 184,432 | 40,901,485 | |||
Semiconductors and semiconductor equipment 4.6% | |||||
Analog Devices, Inc. | 120,282 | 19,868,181 | |||
KLA Corp. | 50,091 | 18,336,311 | |||
Marvell Technology, Inc. | 259,728 | 18,625,095 | |||
Software 14.6% | |||||
Microsoft Corp. | 516,215 | 159,154,247 | |||
Palo Alto Networks, Inc. (A) | 36,451 | 22,691,112 | |||
Technology hardware, storage and peripherals 15.1% | |||||
Apple, Inc. | 1,003,394 | 175,202,621 | |||
NetApp, Inc. | 152,847 | 12,686,301 | |||
Real estate 3.6% | 44,162,407 | ||||
Equity real estate investment trusts 2.6% | |||||
Brixmor Property Group, Inc. | 667,581 | 17,230,266 | |||
Life Storage, Inc. | 108,604 | 15,251,260 | |||
Real estate management and development 1.0% | |||||
CBRE Group, Inc., Class A (A) | 127,632 | 11,680,881 | |||
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 11 |
Yield (%) | Shares | Value | |||
Short-term investments 0.1% | $1,211,867 | ||||
(Cost $1,211,867) | |||||
Short-term funds 0.1% | 1,211,867 | ||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 0.3058(B) | 1,211,867 | 1,211,867 |
Total investments (Cost $821,710,397) 100.1% | $1,247,596,510 | ||||
Other assets and liabilities, net (0.1%) | (1,442,993) | ||||
Total net assets 100.0% | $1,246,153,517 |
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 3-31-22. |
12 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Assets | |
Unaffiliated investments, at value (Cost $821,710,397) | $1,247,596,510 |
Dividends and interest receivable | 183,155 |
Receivable for fund shares sold | 320,775 |
Other assets | 113,576 |
Total assets | 1,248,214,016 |
Liabilities | |
Payable for investments purchased | 713,987 |
Payable for fund shares repurchased | 1,013,327 |
Payable to affiliates | |
Accounting and legal services fees | 38,911 |
Transfer agent fees | 97,492 |
Distribution and service fees | 312 |
Trustees’ fees | 1,480 |
Other liabilities and accrued expenses | 194,990 |
Total liabilities | 2,060,499 |
Net assets | $1,246,153,517 |
Net assets consist of | |
Paid-in capital | $729,740,435 |
Total distributable earnings (loss) | 516,413,082 |
Net assets | $1,246,153,517 |
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 ($670,266,980 ÷ 29,149,555 shares)1 | $22.99 |
Class C ($30,286,060 ÷ 1,386,985 shares)1 | $21.84 |
Class I ($346,844,362 ÷ 14,853,753 shares) | $23.35 |
Class R2 ($1,500,768 ÷ 64,808 shares) | $23.16 |
Class R4 ($4,292 ÷ 184 shares)2 | $23.36 |
Class R6 ($145,110,439 ÷ 6,187,067 shares) | $23.45 |
Class NAV ($52,140,616 ÷ 2,223,894 shares) | $23.45 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)3 | $24.20 |
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 $23.36 is calculated using Net assets of $4,291.54 and Shares outstanding of 183.70. |
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 | $7,537,212 |
Interest | 1,690 |
Total investment income | 7,538,902 |
Expenses | |
Investment management fees | 7,531,999 |
Distribution and service fees | 2,120,863 |
Accounting and legal services fees | 180,494 |
Transfer agent fees | 1,328,913 |
Trustees’ fees | 21,872 |
Custodian fees | 147,768 |
State registration fees | 137,711 |
Printing and postage | 26,636 |
Professional fees | 69,983 |
Other | 68,255 |
Total expenses | 11,634,494 |
Less expense reductions | (124,026) |
Net expenses | 11,510,468 |
Net investment loss | (3,971,566) |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments | 158,055,981 |
Affiliated investments | 3,301 |
158,059,282 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments | (19,833,844) |
(19,833,844) | |
Net realized and unrealized gain | 138,225,438 |
Increase in net assets from operations | $134,253,872 |
14 | JOHN HANCOCK U.S. Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Year ended 3-31-22 | Year ended 3-31-21 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment loss | $(3,971,566) | $(2,422,096) |
Net realized gain | 158,059,282 | 167,447,798 |
Change in net unrealized appreciation (depreciation) | (19,833,844) | 325,304,779 |
Increase in net assets resulting from operations | 134,253,872 | 490,330,481 |
Distributions to shareholders | ||
From earnings | ||
Class A | (94,881,817) | (16,665,951) |
Class C | (4,787,408) | (947,029) |
Class I | (53,794,432) | (11,856,315) |
Class R2 | (211,758) | (31,262) |
Class R4 | (570) | (94) |
Class R6 | (20,223,435) | (3,925,261) |
Class NAV | (7,440,684) | (1,492,547) |
Total distributions | (181,340,104) | (34,918,459) |
From fund share transactions | (4,662,273) | (100,337,593) |
Total increase (decrease) | (51,748,505) | 355,074,429 |
Net assets | ||
Beginning of year | 1,297,902,022 | 942,827,593 |
End of year | $1,246,153,517 | $1,297,902,022 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 15 |
CLASS A SHARES Period ended | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.96 | $16.24 | $16.23 | $17.94 | $16.89 |
Net investment income (loss)1 | (0.10) | (0.07) | 0.01 | (0.01) | 0.01 |
Net realized and unrealized gain (loss) on investments | 2.75 | 8.40 | —2 | 2.22 | 3.62 |
Total from investment operations | 2.65 | 8.33 | 0.01 | 2.21 | 3.63 |
Less distributions | |||||
From net investment income | — | — | — | (0.03) | (0.03) |
From net realized gain | (3.62) | (0.61) | — | (3.89) | (2.55) |
Total distributions | (3.62) | (0.61) | — | (3.92) | (2.58) |
Net asset value, end of period | $22.99 | $23.96 | $16.24 | $16.23 | $17.94 |
Total return (%)3,4 | 10.06 | 51.37 | 0.06 | 12.22 | 21.91 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $670 | $653 | $458 | $404 | $379 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.96 | 1.01 | 1.01 | 1.10 | 1.10 |
Expenses including reductions | 0.96 | 1.00 | 1.00 | 1.09 | 1.09 |
Net investment income (loss) | (0.40) | (0.31) | 0.03 | (0.07) | 0.03 |
Portfolio turnover (%) | 91 | 101 | 915 | 886 | 83 |
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 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.08 | $15.77 | $15.88 | $17.71 | $16.80 |
Net investment loss1 | (0.28) | (0.23) | (0.12) | (0.14) | (0.13) |
Net realized and unrealized gain (loss) on investments | 2.66 | 8.15 | 0.01 | 2.20 | 3.59 |
Total from investment operations | 2.38 | 7.92 | (0.11) | 2.06 | 3.46 |
Less distributions | |||||
From net realized gain | (3.62) | (0.61) | — | (3.89) | (2.55) |
Total distributions | (3.62) | (0.61) | — | (3.89) | (2.55) |
Net asset value, end of period | $21.84 | $23.08 | $15.77 | $15.88 | $17.71 |
Total return (%)2,3 | 9.25 | 50.29 | (0.69) | 11.44 | 20.95 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $30 | $35 | $23 | $12 | $18 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.71 | 1.76 | 1.76 | 1.85 | 1.85 |
Expenses including reductions | 1.71 | 1.75 | 1.75 | 1.84 | 1.84 |
Net investment loss | (1.15) | (1.07) | (0.72) | (0.85) | (0.72) |
Portfolio turnover (%) | 91 | 101 | 914 | 885 | 83 |
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 and merger activity. |
5 | Excludes in-kind transactions. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 17 |
CLASS I SHARES Period ended | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 |
Per share operating performance | |||||
Net asset value, beginning of period | $24.23 | $16.38 | $16.36 | $18.05 | $16.98 |
Net investment income (loss)1 | (0.04) | (0.01) | 0.05 | 0.04 | 0.06 |
Net realized and unrealized gain (loss) on investments | 2.78 | 8.49 | (0.01) | 2.23 | 3.64 |
Total from investment operations | 2.74 | 8.48 | 0.04 | 2.27 | 3.70 |
Less distributions | |||||
From net investment income | — | (0.02) | (0.02) | (0.07) | (0.08) |
From net realized gain | (3.62) | (0.61) | — | (3.89) | (2.55) |
Total distributions | (3.62) | (0.63) | (0.02) | (3.96) | (2.63) |
Net asset value, end of period | $23.35 | $24.23 | $16.38 | $16.36 | $18.05 |
Total return (%)2 | 10.33 | 51.84 | 0.26 | 12.55 | 22.12 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $347 | $408 | $321 | $115 | $20 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.71 | 0.76 | 0.76 | 0.87 | 0.84 |
Expenses including reductions | 0.71 | 0.75 | 0.75 | 0.86 | 0.83 |
Net investment income (loss) | (0.16) | (0.06) | 0.28 | 0.25 | 0.31 |
Portfolio turnover (%) | 91 | 101 | 913 | 884 | 83 |
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 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 |
Per share operating performance | |||||
Net asset value, beginning of period | $24.15 | $16.38 | $16.40 | $18.08 | $17.02 |
Net investment loss1 | (0.14) | (0.10) | (0.02) | (0.04) | (0.02) |
Net realized and unrealized gain (loss) on investments | 2.77 | 8.48 | —2 | 2.25 | 3.64 |
Total from investment operations | 2.63 | 8.38 | (0.02) | 2.21 | 3.62 |
Less distributions | |||||
From net investment income | — | — | — | —2 | (0.01) |
From net realized gain | (3.62) | (0.61) | — | (3.89) | (2.55) |
Total distributions | (3.62) | (0.61) | — | (3.89) | (2.56) |
Net asset value, end of period | $23.16 | $24.15 | $16.38 | $16.40 | $18.08 |
Total return (%)3 | 9.89 | 51.24 | (0.12) | 12.13 | 21.68 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $2 | $1 | $1 | $1 | $1 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.10 | 1.14 | 1.15 | 1.25 | 1.22 |
Expenses including reductions | 1.09 | 1.13 | 1.14 | 1.25 | 1.21 |
Net investment loss | (0.54) | (0.45) | (0.11) | (0.22) | (0.11) |
Portfolio turnover (%) | 91 | 101 | 914 | 885 | 83 |
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 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 |
Per share operating performance | |||||
Net asset value, beginning of period | $24.25 | $16.41 | $16.39 | $18.08 | $17.01 |
Net investment income (loss)1 | (0.05) | (0.03) | 0.03 | 0.01 | 0.03 |
Net realized and unrealized gain (loss) on investments | 2.78 | 8.48 | —2 | 2.24 | 3.65 |
Total from investment operations | 2.73 | 8.45 | 0.03 | 2.25 | 3.68 |
Less distributions | |||||
From net investment income | — | —2 | (0.01) | (0.05) | (0.06) |
From net realized gain | (3.62) | (0.61) | — | (3.89) | (2.55) |
Total distributions | (3.62) | (0.61) | (0.01) | (3.94) | (2.61) |
Net asset value, end of period | $23.36 | $24.25 | $16.41 | $16.39 | $18.08 |
Total return (%)3 | 10.27 | 51.59 | 0.17 | 12.36 | 22.05 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $—4 | $—4 | $1 | $1 | $1 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.89 | 1.00 | 1.00 | 1.10 | 1.06 |
Expenses including reductions | 0.79 | 0.89 | 0.89 | 1.00 | 0.95 |
Net investment income (loss) | (0.23) | (0.14) | 0.15 | 0.03 | 0.18 |
Portfolio turnover (%) | 91 | 101 | 915 | 886 | 83 |
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 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 |
Per share operating performance | |||||
Net asset value, beginning of period | $24.30 | $16.42 | $16.39 | $18.08 | $17.01 |
Net investment income (loss)1 | (0.01) | 0.01 | 0.07 | 0.05 | 0.05 |
Net realized and unrealized gain (loss) on investments | 2.78 | 8.51 | —2 | 2.24 | 3.67 |
Total from investment operations | 2.77 | 8.52 | 0.07 | 2.29 | 3.72 |
Less distributions | |||||
From net investment income | — | (0.03) | (0.04) | (0.09) | (0.10) |
From net realized gain | (3.62) | (0.61) | — | (3.89) | (2.55) |
Total distributions | (3.62) | (0.64) | (0.04) | (3.98) | (2.65) |
Net asset value, end of period | $23.45 | $24.30 | $16.42 | $16.39 | $18.08 |
Total return (%)3 | 10.43 | 51.96 | 0.38 | 12.68 | 22.26 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $145 | $147 | $99 | $15 | $9 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.61 | 0.65 | 0.65 | 0.75 | 0.75 |
Expenses including reductions | 0.60 | 0.64 | 0.64 | 0.74 | 0.74 |
Net investment income (loss) | (0.05) | 0.04 | 0.37 | 0.29 | 0.25 |
Portfolio turnover (%) | 91 | 101 | 914 | 885 | 83 |
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 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 | 3-31-18 |
Per share operating performance | |||||
Net asset value, beginning of period | $24.29 | $16.41 | $16.38 | $18.07 | $17.00 |
Net investment income (loss)1 | (0.01) | 0.01 | 0.07 | 0.03 | 0.07 |
Net realized and unrealized gain (loss) on investments | 2.79 | 8.51 | —2 | 2.26 | 3.65 |
Total from investment operations | 2.78 | 8.52 | 0.07 | 2.29 | 3.72 |
Less distributions | |||||
From net investment income | — | (0.03) | (0.04) | (0.09) | (0.10) |
From net realized gain | (3.62) | (0.61) | — | (3.89) | (2.55) |
Total distributions | (3.62) | (0.64) | (0.04) | (3.98) | (2.65) |
Net asset value, end of period | $23.45 | $24.29 | $16.41 | $16.38 | $18.07 |
Total return (%)3 | 10.48 | 52.01 | 0.39 | 12.69 | 22.30 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $52 | $54 | $40 | $—4 | $1,410 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.60 | 0.64 | 0.64 | 0.74 | 0.73 |
Expenses including reductions | 0.59 | 0.63 | 0.63 | 0.73 | 0.73 |
Net investment income (loss) | (0.04) | 0.06 | 0.41 | 0.18 | 0.40 |
Portfolio turnover (%) | 91 | 101 | 915 | 886 | 83 |
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, 2022 | March 31, 2021 | |
Ordinary income | $44,902,603 | $23,686,010 |
Long-term capital gains | 136,437,501 | 11,232,449 |
Total | $181,340,104 | $34,918,459 |
ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 25 |
Class | Expense reduction |
Class A | $64,126 |
Class C | 3,184 |
Class I | 37,542 |
Class R2 | 142 |
Class | Expense reduction |
Class R6 | $13,882 |
Class NAV | 5,146 |
Total | $124,022 |
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% |
26 | JOHN HANCOCK U.S. Growth Fund | ANNUAL REPORT |
Class | Distribution and service fees | Transfer agent fees |
Class A | $1,762,938 | $804,062 |
Class C | 350,212 | 39,943 |
Class I | — | 470,937 |
Class R2 | 7,701 | 141 |
Class R4 | 12 | — |
Class R6 | — | 13,830 |
Total | $2,120,863 | $1,328,913 |
ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 27 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Borrower | $20,600,000 | 1 | 0.540% | $(309) |
Lender | 1,900,000 | 1 | 0.655% | 35 |
Year Ended 3-31-22 | Year Ended 3-31-21 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 1,212,772 | $30,823,365 | 2,212,511 | $47,574,705 |
Distributions reinvested | 3,762,581 | 92,785,993 | 692,595 | 16,324,223 |
Repurchased | (3,076,018) | (77,793,440) | (3,884,352) | (85,211,938) |
Net increase (decrease) | 1,899,335 | $45,815,918 | (979,246) | $(21,313,010) |
Class C shares | ||||
Sold | 80,525 | $1,960,557 | 392,124 | $7,922,544 |
Distributions reinvested | 203,317 | 4,769,820 | 41,456 | 943,128 |
Repurchased | (401,076) | (9,639,707) | (362,390) | (7,878,623) |
Net increase (decrease) | (117,234) | $(2,909,330) | 71,190 | $987,049 |
Class I shares | ||||
Sold | 2,338,632 | $59,285,230 | 7,526,188 | $159,212,084 |
Distributions reinvested | 2,145,580 | 53,682,403 | 495,297 | 11,797,972 |
Repurchased | (6,480,524) | (164,709,542) | (10,754,373) | (243,094,825) |
Net decrease | (1,996,312) | $(51,741,909) | (2,732,888) | $(72,084,769) |
Class R2 shares | ||||
Sold | 5,359 | $133,531 | 9,840 | $225,661 |
Distributions reinvested | 8,525 | 211,758 | 1,316 | 31,262 |
Repurchased | (4,701) | (110,252) | (5,147) | (111,672) |
Net increase | 9,183 | $235,037 | 6,009 | $145,251 |
Class R4 shares | ||||
Sold | 10 | $270 | 2,222 | $44,990 |
Distributions reinvested | 23 | 570 | 4 | 94 |
Repurchased | (12) | (324) | (55,073) | (1,313,665) |
Net increase (decrease) | 21 | $516 | (52,847) | $(1,268,581) |
28 | JOHN HANCOCK U.S. Growth Fund | ANNUAL REPORT |
Year Ended 3-31-22 | Year Ended 3-31-21 | |||
Shares | Amount | Shares | Amount | |
Class R6 shares | ||||
Sold | 970,782 | $25,301,012 | 1,438,705 | $30,977,228 |
Distributions reinvested | 805,073 | 20,223,435 | 164,374 | 3,925,261 |
Repurchased | (1,629,093) | (41,748,773) | (1,606,061) | (36,295,520) |
Net increase (decrease) | 146,762 | $3,775,674 | (2,982) | $(1,393,031) |
Class NAV shares | ||||
Sold | 217,307 | $5,705,814 | 629,873 | $13,321,104 |
Distributions reinvested | 296,324 | 7,440,684 | 62,528 | 1,492,547 |
Repurchased | (501,469) | (12,984,677) | (926,057) | (20,224,153) |
Net increase (decrease) | 12,162 | $161,821 | (233,656) | $(5,410,502) |
Total net decrease | (46,083) | $(4,662,273) | (3,924,420) | $(100,337,593) |
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* | — | — | $16,660,457 | $(16,663,758) | $3,301 | — | — | — | — |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 29 |
30 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 31 |
• | 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 shareholders’ interests in the Fund; |
• | The Fund did not report any breaches of the 15% limit on illiquid investments that would require reporting to the Securities and Exchange Commission; |
32 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
• | 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, as a part of their annual Rule 38a-1 assessment of the Fund’s policies and procedures, reviewed the LRMP’s control environment and deemed it to be operating effectively and in compliance with the Board approved procedures. |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 33 |
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 | 191 |
Trustee and Chairperson of the Board | ||
Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); 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. | ||
James R. Boyle, Born: 1959 | 2015 | 191 |
Trustee | ||
Foresters Financial, Chief Executive Officer (since 2018) and board member (since 2017). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). | ||
Peter S. Burgess,2 Born: 1942 | 2012 | 191 |
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 (2004-2021); 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,2 Born: 1944 | 2006 | 191 |
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). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | ||
Grace K. Fey, Born: 1946 | 2012 | 191 |
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). | ||
Deborah C. Jackson, Born: 1952 | 2008 | 191 |
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). |
34 | 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 |
Steven R. Pruchansky, Born: 1944 | 2006 | 191 |
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 | 191 |
Trustee | ||
Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); 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); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020). | ||
Gregory A. Russo, Born: 1949 | 2008 | 191 |
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 | 191 |
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). |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 35 |
Non-Independent Trustees3 (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 |
Marianne Harrison, Born: 1963 | 2018 | 191 |
Non-Independent Trustee | ||
President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, Boston Medical Center (since 2021); 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 | Current Position(s) with 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). | |
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; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions). | |
Trevor Swanberg, Born: 1979 | 2020 |
Chief Compliance Officer | |
Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); 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); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions). |
36 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
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. |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 37 |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
Peter S. Burgess*
William H. Cunningham*
Grace K. Fey
Marianne Harrison†
Deborah C. Jackson
Frances G. Rathke*
Gregory A. Russo
President
Chief Financial Officer
Treasurer
Secretary and Chief Legal Officer
Chief Compliance Officer
Tim Manning
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 |
38 | JOHN HANCOCK U.S. GROWTH 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.
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200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
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MF2123393 | 393A 3/22 |
ITEM 2. CODE OF ETHICS.
As of the end of the year, March 31, 2022, the registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its Chief Executive Officer, Chief Financial Officer and Treasurer (respectively, the principal executive officer, the principal financial officer and the principal accounting officer, the "Covered Officers"). A copy of the code of ethics is filed as an exhibit to this Form N-CSR.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Frances G. Rathke is the audit committee financial expert, effective March 25, 2022, 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, 2022 and 2021. These fees were billed to the registrant and were approved by the registrant's audit committee.
Fund |
| March 31, 2022 |
| March 31, 2021 |
Disciplined Value Fund | $ | 39,676 | $ | 39,965 |
Disciplined Value Mid Cap Fund |
| 51,263 |
| 52,005 |
Global Shareholder Yield Fund |
| 40,271 |
| 39,295 |
International Growth Fund |
| 53,336 |
| 52,040 |
U.S. Growth Fund |
| 40,995 |
| 40,750 |
Total | $ | 225,541 | $ | 224,055 |
(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 related to supplemental regulatory filings. Amounts billed to the registrant were as follows:
Fund |
| March 31, 2022 |
| March 31, 2021 |
Disciplined Value Fund | $ | 781 | $ | 604 |
Disciplined Value Mid Cap Fund |
| 781 |
| 604 |
Global Shareholder Yield |
| 781 |
| 604 |
International Growth |
| 781 |
| 604 |
U.S. Growth Fund |
| 781 |
| 2,406 |
Total | $ | 3,905 | $ | 4,822 |
Amounts billed to control affiliates were $119,500 and $116,000 for the fiscal years ended March 31, 2022 and 2021, 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, 2022 and 2021. 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, 2022 |
| March 31, 2021 |
Disciplined Value Fund | $ | 4,664 | $ | 3,837 |
Disciplined Value Mid Cap Fund |
| 5,914 |
| 3,837 |
Global Shareholder Yield |
| 3,914 |
| 3,837 |
International Growth |
| 5,241 |
| 4,403 |
U.S. Growth Fund |
| 5,164 |
| 3,837 |
Total | $ | 24,897 | $ | 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,
2022 and 2021:
Fund | March 31, 2022 |
| March 31, 2021 | |
Disciplined Value Fund | $ | 199 | $ | 89 |
Disciplined Value Mid Cap Fund |
| 199 |
| 89 |
Global Shareholder Yield |
| 199 |
| 89 |
International Growth |
| 199 |
| 89 |
U.S. Growth Fund |
| 199 |
| 89 |
Total | $ | 995 | $ | 445 |
(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 $989,613 for the fiscal year ended March 31, 2022 and $1,220,395 for the fiscal year ended March 31, 2021.
(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:
Frances G. Rathke – Chairperson, effective March 25, 2022
Peter S. Burgess
William H. Cunningham
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 9, 2022 |
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 9, 2022 |
By: | /s/ Charles A. Rizzo |
| -------------------------------- |
| Charles A. Rizzo |
| Chief Financial Officer |
Date: | May 9, 2022 |