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, 2023 |
ITEM 1. REPORTS TO STOCKHOLDERS
The Registrant prepared the following five annual reports to shareholders for the period ended March 31, 2023:
•John Hancock Disciplined Value Fund
•John Hancock Disciplined Value Mid Cap Fund
•John Hancock Global Shareholder Yield Fund
•John Hancock International Growth Fund
•John Hancock U.S. Growth Fund
Manulife Investment Management
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 1 |
2 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 3 |
TOP 10 HOLDINGS AS OF 3/31/2023 (% of net assets) | |
JPMorgan Chase & Co. | 3.6 |
Berkshire Hathaway, Inc., Class B | 3.6 |
Alphabet, Inc., Class A | 3.3 |
Bristol-Myers Squibb Company | 3.1 |
Johnson & Johnson | 2.9 |
Sanofi, ADR | 2.9 |
Cisco Systems, Inc. | 2.7 |
AutoZone, Inc. | 2.4 |
Marathon Petroleum Corp. | 2.2 |
Activision Blizzard, Inc. | 2.2 |
TOTAL | 28.9 |
Cash and cash equivalents are not included. |
COUNTRY COMPOSITION AS OF 3/31/2023 (% of net assets) | |
United States | 87.3 |
France | 2.9 |
Canada | 2.6 |
Ireland | 2.5 |
United Kingdom | 2.1 |
Switzerland | 1.0 |
Other countries | 1.6 |
TOTAL | 100.0 |
4 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 5 |
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | ||||
1-year | 5-year | 10-year | 5-year | 10-year | |
Class A | -10.31 | 5.93 | 8.53 | 33.37 | 126.69 |
Class C | -7.14 | 6.23 | 8.27 | 35.26 | 121.36 |
Class I1 | -5.33 | 7.29 | 9.37 | 42.17 | 144.96 |
Class R21 | -5.73 | 6.86 | 8.92 | 39.36 | 135.07 |
Class R41 | -5.52 | 7.13 | 9.20 | 41.14 | 141.21 |
Class R51 | -5.31 | 7.35 | 9.44 | 42.59 | 146.37 |
Class R61 | -5.22 | 7.41 | 9.48 | 42.94 | 147.48 |
Class NAV1 | -5.20 | 7.41 | 9.49 | 42.99 | 147.70 |
Index 1† | -5.91 | 7.50 | 9.13 | 43.55 | 139.52 |
Index 2† | -7.73 | 11.19 | 12.24 | 69.94 | 217.36 |
Class A | Class C | Class I | Class R2 | Class R4 | Class R5 | Class R6 | Class NAV | |
Gross (%) | 1.01 | 1.76 | 0.76 | 1.16 | 1.01 | 0.71 | 0.66 | 0.65 |
Net (%) | 1.00 | 1.75 | 0.75 | 1.15 | 0.90 | 0.70 | 0.65 | 0.64 |
6 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
Start date | With maximum sales charge ($) | Without sales charge ($) | Index 1 ($) | Index 2 ($) | |
Class C2 | 3-31-13 | 22,136 | 22,136 | 23,952 | 31,736 |
Class I1 | 3-31-13 | 24,496 | 24,496 | 23,952 | 31,736 |
Class R21 | 3-31-13 | 23,507 | 23,507 | 23,952 | 31,736 |
Class R41 | 3-31-13 | 24,121 | 24,121 | 23,952 | 31,736 |
Class R51 | 3-31-13 | 24,637 | 24,637 | 23,952 | 31,736 |
Class R61 | 3-31-13 | 24,748 | 24,748 | 23,952 | 31,736 |
Class NAV1 | 3-31-13 | 24,770 | 24,770 | 23,952 | 31,736 |
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 |
8 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
Account value on 10-1-2022 | Ending value on 3-31-2023 | Expenses paid during period ended 3-31-20231 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,120.70 | $5.39 | 1.02% |
Hypothetical example | 1,000.00 | 1,019.80 | 5.14 | 1.02% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,116.60 | 9.29 | 1.76% |
Hypothetical example | 1,000.00 | 1,016.20 | 8.85 | 1.76% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,122.50 | 4.07 | 0.77% |
Hypothetical example | 1,000.00 | 1,021.10 | 3.88 | 0.77% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 1,119.70 | 6.18 | 1.17% |
Hypothetical example | 1,000.00 | 1,019.10 | 5.89 | 1.17% | |
Class R4 | Actual expenses/actual returns | 1,000.00 | 1,121.20 | 4.81 | 0.91% |
Hypothetical example | 1,000.00 | 1,020.40 | 4.58 | 0.91% | |
Class R5 | Actual expenses/actual returns | 1,000.00 | 1,122.70 | 3.76 | 0.71% |
Hypothetical example | 1,000.00 | 1,021.40 | 3.58 | 0.71% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,122.80 | 3.49 | 0.66% |
Hypothetical example | 1,000.00 | 1,021.60 | 3.33 | 0.66% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 1,122.80 | 3.44 | 0.65% |
Hypothetical example | 1,000.00 | 1,021.70 | 3.28 | 0.65% |
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 97.3% | $11,747,919,621 | ||||
(Cost $9,300,452,450) | |||||
Communication services 6.6% | 794,097,367 | ||||
Entertainment 2.2% | |||||
Activision Blizzard, Inc. | 3,011,369 | 257,743,073 | |||
Interactive media and services 3.3% | |||||
Alphabet, Inc., Class A (A) | 3,862,904 | 400,699,033 | |||
Wireless telecommunication services 1.1% | |||||
T-Mobile US, Inc. (A) | 936,587 | 135,655,261 | |||
Consumer discretionary 5.7% | 682,545,556 | ||||
Distributors 1.0% | |||||
LKQ Corp. | 2,030,515 | 115,252,031 | |||
Hotels, restaurants and leisure 0.9% | |||||
Booking Holdings, Inc. (A) | 42,761 | 113,419,704 | |||
Household durables 1.4% | |||||
Mohawk Industries, Inc. (A) | 627,897 | 62,927,837 | |||
Sony Group Corp., ADR | 1,180,176 | 106,982,954 | |||
Specialty retail 2.4% | |||||
AutoZone, Inc. (A) | 115,519 | 283,963,030 | |||
Consumer staples 6.6% | 802,642,161 | ||||
Beverages 3.1% | |||||
Coca-Cola Europacific Partners PLC | 2,166,894 | 128,258,456 | |||
Keurig Dr. Pepper, Inc. | 6,978,090 | 246,187,015 | |||
Consumer staples distribution and retail 3.5% | |||||
The Kroger Company | 1,891,351 | 93,375,999 | |||
U.S. Foods Holding Corp. (A) | 3,488,911 | 128,880,372 | |||
Walmart, Inc. | 1,396,679 | 205,940,319 | |||
Energy 11.4% | 1,374,462,239 | ||||
Energy equipment and services 2.6% | |||||
Halliburton Company | 4,199,890 | 132,884,520 | |||
Schlumberger, Ltd. | 3,765,530 | 184,887,523 | |||
Oil, gas and consumable fuels 8.8% | |||||
BP PLC, ADR | 3,160,599 | 119,913,126 | |||
Canadian Natural Resources, Ltd. | 2,935,942 | 162,504,390 | |||
Cenovus Energy, Inc. | 8,627,632 | 150,638,455 | |||
ConocoPhillips | 1,207,262 | 119,772,463 | |||
Devon Energy Corp. | 749,785 | 37,946,619 | |||
Marathon Petroleum Corp. | 1,956,207 | 263,755,390 | |||
Peabody Energy Corp. (A) | 2,374,128 | 60,777,677 |
10 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Energy (continued) | |||||
Oil, gas and consumable fuels (continued) | |||||
Pioneer Natural Resources Company | 692,235 | $141,382,076 | |||
Financials 17.9% | 2,159,726,358 | ||||
Banks 7.0% | |||||
Bank of America Corp. | 4,814,040 | 137,681,544 | |||
JPMorgan Chase & Co. | 3,356,517 | 437,387,731 | |||
Truist Financial Corp. | 1,046,943 | 35,700,756 | |||
Wells Fargo & Company | 6,398,114 | 239,161,501 | |||
Capital markets 2.3% | |||||
Ares Management Corp., Class A | 590,461 | 49,268,066 | |||
Intercontinental Exchange, Inc. | 722,873 | 75,388,425 | |||
The Goldman Sachs Group, Inc. | 469,617 | 153,616,417 | |||
Consumer finance 0.5% | |||||
Discover Financial Services | 629,858 | 62,255,165 | |||
Financial services 5.0% | |||||
Berkshire Hathaway, Inc., Class B (A) | 1,392,622 | 429,999,895 | |||
FleetCor Technologies, Inc. (A) | 576,142 | 121,479,541 | |||
Global Payments, Inc. | 428,001 | 45,042,825 | |||
Insurance 3.1% | |||||
Aon PLC, Class A | 221,581 | 69,862,273 | |||
Arthur J. Gallagher & Company | 516,681 | 98,846,242 | |||
Chubb, Ltd. | 653,739 | 126,943,039 | |||
Everest Re Group, Ltd. | 92,813 | 33,228,910 | |||
The Allstate Corp. | 395,849 | 43,864,028 | |||
Health care 19.9% | 2,408,467,412 | ||||
Biotechnology 1.5% | |||||
AbbVie, Inc. | 525,792 | 83,795,471 | |||
Amgen, Inc. | 396,036 | 95,741,703 | |||
Health care providers and services 7.8% | |||||
AmerisourceBergen Corp. | 911,140 | 145,882,625 | |||
Centene Corp. (A) | 1,884,118 | 119,095,099 | |||
CVS Health Corp. | 2,384,259 | 177,174,286 | |||
McKesson Corp. | 174,612 | 62,170,603 | |||
The Cigna Group | 768,813 | 196,454,786 | |||
UnitedHealth Group, Inc. | 501,485 | 236,996,796 | |||
Life sciences tools and services 1.7% | |||||
Avantor, Inc. (A) | 3,992,116 | 84,393,332 | |||
ICON PLC (A)(B) | 590,514 | 126,127,885 | |||
Pharmaceuticals 8.9% | |||||
Bristol-Myers Squibb Company | 5,418,024 | 375,523,243 | |||
Johnson & Johnson | 2,291,402 | 355,167,310 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 11 |
Shares | Value | ||||
Health care (continued) | |||||
Pharmaceuticals (continued) | |||||
Sanofi, ADR | 6,430,435 | $349,944,273 | |||
Industrials 12.7% | 1,536,758,704 | ||||
Aerospace and defense 2.4% | |||||
General Dynamics Corp. | 672,786 | 153,536,493 | |||
Howmet Aerospace, Inc. | 3,329,701 | 141,079,431 | |||
Building products 1.1% | |||||
Allegion PLC | 634,013 | 67,668,207 | |||
Masco Corp. | 1,412,200 | 70,214,584 | |||
Electrical equipment 1.0% | |||||
Eaton Corp. PLC | 690,697 | 118,344,024 | |||
Machinery 5.0% | |||||
Caterpillar, Inc. | 469,421 | 107,422,302 | |||
Deere & Company | 397,476 | 164,109,891 | |||
Dover Corp. | 440,817 | 66,977,735 | |||
Fortive Corp. | 1,612,658 | 109,934,896 | |||
Otis Worldwide Corp. | 921,811 | 77,800,848 | |||
Wabtec Corp. | 784,165 | 79,247,715 | |||
Professional services 1.6% | |||||
Leidos Holdings, Inc. | 1,004,347 | 92,460,185 | |||
SS&C Technologies Holdings, Inc. | 1,668,764 | 94,235,103 | |||
Trading companies and distributors 1.6% | |||||
United Rentals, Inc. | 489,507 | 193,727,290 | |||
Information technology 10.3% | 1,238,912,796 | ||||
Communications equipment 2.7% | |||||
Cisco Systems, Inc. | 6,097,864 | 318,765,841 | |||
IT services 0.8% | |||||
Cognizant Technology Solutions Corp., Class A | 1,546,947 | 94,255,481 | |||
Semiconductors and semiconductor equipment 6.8% | |||||
Advanced Micro Devices, Inc. (A) | 1,148,272 | 112,542,139 | |||
Applied Materials, Inc. | 1,260,194 | 154,789,629 | |||
Lam Research Corp. | 139,988 | 74,210,439 | |||
Microchip Technology, Inc. | 1,564,733 | 131,093,331 | |||
Micron Technology, Inc. | 1,962,268 | 118,403,251 | |||
NXP Semiconductors NV | 269,643 | 50,281,678 | |||
Qualcomm, Inc. | 1,446,708 | 184,571,007 | |||
Materials 4.2% | 504,734,505 | ||||
Chemicals 3.3% | |||||
Axalta Coating Systems, Ltd. (A) | 3,023,643 | 91,586,146 | |||
Corteva, Inc. | 1,032,937 | 62,296,430 |
12 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Materials (continued) | |||||
Chemicals (continued) | |||||
DuPont de Nemours, Inc. | 2,326,566 | $166,977,642 | |||
Olin Corp. | 1,361,776 | 75,578,568 | |||
Construction materials 0.9% | |||||
CRH PLC, ADR (B) | 2,128,872 | 108,295,719 | |||
Utilities 2.0% | 245,572,523 | ||||
Electric utilities 1.0% | |||||
FirstEnergy Corp. | 3,163,554 | 126,731,973 | |||
Multi-utilities 1.0% | |||||
CenterPoint Energy, Inc. | 4,033,963 | 118,840,550 | |||
Yield (%) | Shares | Value | |||
Short-term investments 2.9% | $353,101,559 | ||||
(Cost $353,098,978) | |||||
Short-term funds 2.9% | 353,101,559 | ||||
John Hancock Collateral Trust (C) | 4.9438(D) | 749,311 | 7,490,790 | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 4.6799(D) | 345,610,769 | 345,610,769 |
Total investments (Cost $9,653,551,428) 100.2% | $12,101,021,180 | ||||
Other assets and liabilities, net (0.2%) | (24,576,616) | ||||
Total net assets 100.0% | $12,076,444,564 |
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) | All or a portion of this security is on loan as of 3-31-23. |
(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 3-31-23. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 13 |
Assets | |
Unaffiliated investments, at value (Cost $9,646,063,219) including $7,317,742 of securities loaned | $12,093,530,390 |
Affiliated investments, at value (Cost $7,488,209) | 7,490,790 |
Total investments, at value (Cost $9,653,551,428) | 12,101,021,180 |
Dividends and interest receivable | 13,521,114 |
Receivable for fund shares sold | 13,997,607 |
Receivable for investments sold | 34,922,239 |
Receivable for securities lending income | 16,825 |
Other assets | 1,229,906 |
Total assets | 12,164,708,871 |
Liabilities | |
Payable for investments purchased | 67,291,120 |
Payable for fund shares repurchased | 11,566,484 |
Payable upon return of securities loaned | 7,476,759 |
Payable to affiliates | |
Accounting and legal services fees | 495,965 |
Transfer agent fees | 666,205 |
Distribution and service fees | 17,015 |
Trustees’ fees | 761 |
Other liabilities and accrued expenses | 749,998 |
Total liabilities | 88,264,307 |
Net assets | $12,076,444,564 |
Net assets consist of | |
Paid-in capital | $9,340,029,489 |
Total distributable earnings (loss) | 2,736,415,075 |
Net assets | $12,076,444,564 |
14 | JOHN HANCOCK Disciplined Value 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 ($1,184,553,199 ÷ 54,525,446 shares)1 | $21.72 |
Class C ($79,184,685 ÷ 3,975,821 shares)1 | $19.92 |
Class I ($5,657,474,885 ÷ 272,055,499 shares) | $20.80 |
Class R2 ($49,637,673 ÷ 2,390,852 shares) | $20.76 |
Class R4 ($48,963,915 ÷ 2,353,525 shares) | $20.80 |
Class R5 ($58,942,439 ÷ 2,827,004 shares) | $20.85 |
Class R6 ($3,846,305,856 ÷ 184,509,754 shares) | $20.85 |
Class NAV ($1,151,381,912 ÷ 55,205,513 shares) | $20.86 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $22.86 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 15 |
Investment income | |
Dividends | $245,469,046 |
Interest | 11,105,472 |
Securities lending | 73,359 |
Less foreign taxes withheld | (3,700,822) |
Total investment income | 252,947,055 |
Expenses | |
Investment management fees | 75,209,999 |
Distribution and service fees | 4,333,692 |
Accounting and legal services fees | 1,911,053 |
Transfer agent fees | 8,490,374 |
Trustees’ fees | 263,727 |
Custodian fees | 1,325,447 |
State registration fees | 321,543 |
Printing and postage | 735,815 |
Professional fees | 418,171 |
Other | 366,736 |
Total expenses | 93,376,557 |
Less expense reductions | (959,442) |
Net expenses | 92,417,115 |
Net investment income | 160,529,940 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | 412,747,947 |
Affiliated investments | 10,676 |
412,758,623 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | (1,257,797,984) |
Affiliated investments | 2,581 |
(1,257,795,403) | |
Net realized and unrealized loss | (845,036,780) |
Decrease in net assets from operations | $(684,506,840) |
16 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Year ended 3-31-23 | Year ended 3-31-22 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $160,529,940 | $109,334,518 |
Net realized gain | 412,758,623 | 1,709,466,375 |
Change in net unrealized appreciation (depreciation) | (1,257,795,403) | (172,873,157) |
Increase (decrease) in net assets resulting from operations | (684,506,840) | 1,645,927,736 |
Distributions to shareholders | ||
From earnings | ||
Class A | (74,200,652) | (142,634,076) |
Class C | (5,309,741) | (15,439,022) |
Class I | (389,166,210) | (794,647,089) |
Class R2 | (3,173,900) | (5,966,347) |
Class R4 | (3,287,805) | (7,303,391) |
Class R5 | (3,734,327) | (7,360,008) |
Class R6 | (268,993,677) | (547,655,424) |
Class NAV | (78,981,499) | (188,506,983) |
Total distributions | (826,847,811) | (1,709,512,340) |
From fund share transactions | 670,486,527 | 703,591,853 |
Total increase (decrease) | (840,868,124) | 640,007,249 |
Net assets | ||
Beginning of year | 12,917,312,688 | 12,277,305,439 |
End of year | $12,076,444,564 | $12,917,312,688 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 17 |
CLASS A SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $24.55 | $24.73 | $15.18 | $20.25 | $22.11 |
Net investment income1 | 0.24 | 0.15 | 0.18 | 0.30 | 0.26 |
Net realized and unrealized gain (loss) on investments | (1.63) | 3.04 | 9.65 | (4.20) | (0.28) |
Total from investment operations | (1.39) | 3.19 | 9.83 | (3.90) | (0.02) |
Less distributions | |||||
From net investment income | (0.23) | (0.16) | (0.28) | (0.25) | (0.23) |
From net realized gain | (1.21) | (3.21) | — | (0.92) | (1.61) |
Total distributions | (1.44) | (3.37) | (0.28) | (1.17) | (1.84) |
Net asset value, end of period | $21.72 | $24.55 | $24.73 | $15.18 | $20.25 |
Total return (%)2,3 | (5.60) | 13.42 | 65.19 | (20.99) | 0.45 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1,185 | $1,204 | $1,037 | $731 | $1,092 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.02 | 1.04 | 1.07 | 1.07 | 1.06 |
Expenses including reductions | 1.01 | 1.03 | 1.07 | 1.06 | 1.05 |
Net investment income | 1.04 | 0.60 | 0.94 | 1.44 | 1.18 |
Portfolio turnover (%) | 43 | 38 | 55 | 88 | 69 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
3 | Does not reflect the effect of sales charges, if any. |
18 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS C SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $22.62 | $23.05 | $14.17 | $18.98 | $20.82 |
Net investment income (loss)1 | 0.06 | (0.04) | 0.03 | 0.13 | 0.09 |
Net realized and unrealized gain (loss) on investments | (1.49) | 2.82 | 9.00 | (3.92) | (0.26) |
Total from investment operations | (1.43) | 2.78 | 9.03 | (3.79) | (0.17) |
Less distributions | |||||
From net investment income | (0.06) | — | (0.15) | (0.10) | (0.06) |
From net realized gain | (1.21) | (3.21) | — | (0.92) | (1.61) |
Total distributions | (1.27) | (3.21) | (0.15) | (1.02) | (1.67) |
Net asset value, end of period | $19.92 | $22.62 | $23.05 | $14.17 | $18.98 |
Total return (%)2,3 | (6.26) | 12.56 | 63.90 | (21.51) | (0.35) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $79 | $116 | $135 | $140 | $235 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.77 | 1.79 | 1.82 | 1.82 | 1.81 |
Expenses including reductions | 1.76 | 1.78 | 1.82 | 1.81 | 1.80 |
Net investment income (loss) | 0.29 | (0.17) | 0.19 | 0.67 | 0.43 |
Portfolio turnover (%) | 43 | 38 | 55 | 88 | 69 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
3 | Does not reflect the effect of sales charges, if any. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 19 |
CLASS I SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.57 | $23.86 | $14.65 | $19.58 | $21.45 |
Net investment income1 | 0.28 | 0.21 | 0.22 | 0.34 | 0.30 |
Net realized and unrealized gain (loss) on investments | (1.55) | 2.93 | 9.32 | (4.05) | (0.27) |
Total from investment operations | (1.27) | 3.14 | 9.54 | (3.71) | 0.03 |
Less distributions | |||||
From net investment income | (0.29) | (0.22) | (0.33) | (0.30) | (0.29) |
From net realized gain | (1.21) | (3.21) | — | (0.92) | (1.61) |
Total distributions | (1.50) | (3.43) | (0.33) | (1.22) | (1.90) |
Net asset value, end of period | $20.80 | $23.57 | $23.86 | $14.65 | $19.58 |
Total return (%)2 | (5.33) | 13.73 | 65.58 | (20.77) | 0.64 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $5,657 | $6,039 | $5,618 | $5,250 | $7,399 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.77 | 0.79 | 0.82 | 0.82 | 0.82 |
Expenses including reductions | 0.76 | 0.78 | 0.82 | 0.81 | 0.81 |
Net investment income | 1.29 | 0.84 | 1.18 | 1.69 | 1.43 |
Portfolio turnover (%) | 43 | 38 | 55 | 88 | 69 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
20 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R2 SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.53 | $23.83 | $14.63 | $19.57 | $21.43 |
Net investment income1 | 0.20 | 0.11 | 0.15 | 0.23 | 0.22 |
Net realized and unrealized gain (loss) on investments | (1.56) | 2.93 | 9.31 | (4.03) | (0.27) |
Total from investment operations | (1.36) | 3.04 | 9.46 | (3.80) | (0.05) |
Less distributions | |||||
From net investment income | (0.20) | (0.13) | (0.26) | (0.22) | (0.20) |
From net realized gain | (1.21) | (3.21) | — | (0.92) | (1.61) |
Total distributions | (1.41) | (3.34) | (0.26) | (1.14) | (1.81) |
Net asset value, end of period | $20.76 | $23.53 | $23.83 | $14.63 | $19.57 |
Total return (%)2 | (5.73) | 13.28 | 64.94 | (21.08) | 0.24 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $50 | $55 | $55 | $42 | $102 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.16 | 1.18 | 1.21 | 1.21 | 1.21 |
Expenses including reductions | 1.15 | 1.17 | 1.20 | 1.20 | 1.20 |
Net investment income | 0.90 | 0.43 | 0.80 | 1.17 | 1.02 |
Portfolio turnover (%) | 43 | 38 | 55 | 88 | 69 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 21 |
CLASS R4 SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.58 | $23.87 | $14.65 | $19.59 | $21.45 |
Net investment income1 | 0.25 | 0.17 | 0.20 | 0.30 | 0.27 |
Net realized and unrealized gain (loss) on investments | (1.57) | 2.94 | 9.32 | (4.05) | (0.27) |
Total from investment operations | (1.32) | 3.11 | 9.52 | (3.75) | — |
Less distributions | |||||
From net investment income | (0.25) | (0.19) | (0.30) | (0.27) | (0.25) |
From net realized gain | (1.21) | (3.21) | — | (0.92) | (1.61) |
Total distributions | (1.46) | (3.40) | (0.30) | (1.19) | (1.86) |
Net asset value, end of period | $20.80 | $23.58 | $23.87 | $14.65 | $19.59 |
Total return (%)2 | (5.52) | 13.58 | 65.34 | (20.87) | 0.52 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $49 | $62 | $62 | $74 | $143 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.01 | 1.03 | 1.06 | 1.06 | 1.06 |
Expenses including reductions | 0.90 | 0.92 | 0.95 | 0.95 | 0.95 |
Net investment income | 1.14 | 0.70 | 1.06 | 1.50 | 1.26 |
Portfolio turnover (%) | 43 | 38 | 55 | 88 | 69 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
22 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R5 SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.63 | $23.91 | $14.67 | $19.62 | $21.48 |
Net investment income1 | 0.29 | 0.23 | 0.23 | 0.34 | 0.31 |
Net realized and unrealized gain (loss) on investments | (1.56) | 2.94 | 9.35 | (4.06) | (0.26) |
Total from investment operations | (1.27) | 3.17 | 9.58 | (3.72) | 0.05 |
Less distributions | |||||
From net investment income | (0.30) | (0.24) | (0.34) | (0.31) | (0.30) |
From net realized gain | (1.21) | (3.21) | — | (0.92) | (1.61) |
Total distributions | (1.51) | (3.45) | (0.34) | (1.23) | (1.91) |
Net asset value, end of period | $20.85 | $23.63 | $23.91 | $14.67 | $19.62 |
Total return (%)2 | (5.31) | 13.82 | 65.67 | (20.74) | 0.75 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $59 | $60 | $40 | $61 | $166 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.71 | 0.73 | 0.76 | 0.76 | 0.76 |
Expenses including reductions | 0.71 | 0.72 | 0.75 | 0.75 | 0.75 |
Net investment income | 1.35 | 0.93 | 1.24 | 1.70 | 1.48 |
Portfolio turnover (%) | 43 | 38 | 55 | 88 | 69 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 23 |
CLASS R6 SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.62 | $23.91 | $14.67 | $19.61 | $21.48 |
Net investment income1 | 0.31 | 0.24 | 0.24 | 0.36 | 0.32 |
Net realized and unrealized gain (loss) on investments | (1.56) | 2.93 | 9.35 | (4.06) | (0.27) |
Total from investment operations | (1.25) | 3.17 | 9.59 | (3.70) | 0.05 |
Less distributions | |||||
From net investment income | (0.31) | (0.25) | (0.35) | (0.32) | (0.31) |
From net realized gain | (1.21) | (3.21) | — | (0.92) | (1.61) |
Total distributions | (1.52) | (3.46) | (0.35) | (1.24) | (1.92) |
Net asset value, end of period | $20.85 | $23.62 | $23.91 | $14.67 | $19.61 |
Total return (%)2 | (5.22) | 13.82 | 65.74 | (20.66) | 0.76 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $3,846 | $4,009 | $3,844 | $3,369 | $4,584 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.66 | 0.68 | 0.71 | 0.71 | 0.71 |
Expenses including reductions | 0.66 | 0.68 | 0.71 | 0.70 | 0.70 |
Net investment income | 1.40 | 0.95 | 1.30 | 1.81 | 1.54 |
Portfolio turnover (%) | 43 | 38 | 55 | 88 | 69 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
24 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS NAV SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.63 | $23.92 | $14.68 | $19.62 | $21.49 |
Net investment income1 | 0.31 | 0.24 | 0.25 | 0.36 | 0.33 |
Net realized and unrealized gain (loss) on investments | (1.56) | 2.93 | 9.34 | (4.06) | (0.28) |
Total from investment operations | (1.25) | 3.17 | 9.59 | (3.70) | 0.05 |
Less distributions | |||||
From net investment income | (0.31) | (0.25) | (0.35) | (0.32) | (0.31) |
From net realized gain | (1.21) | (3.21) | — | (0.92) | (1.61) |
Total distributions | (1.52) | (3.46) | (0.35) | (1.24) | (1.92) |
Net asset value, end of period | $20.86 | $23.63 | $23.92 | $14.68 | $19.62 |
Total return (%)2 | (5.20) | 13.83 | 65.71 | (20.64) | 0.77 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1,151 | $1,372 | $1,486 | $887 | $1,105 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.65 | 0.68 | 0.70 | 0.70 | 0.70 |
Expenses including reductions | 0.65 | 0.67 | 0.70 | 0.69 | 0.69 |
Net investment income | 1.40 | 0.95 | 1.31 | 1.83 | 1.54 |
Portfolio turnover (%) | 43 | 38 | 55 | 88 | 69 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 25 |
26 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 27 |
28 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT |
March 31, 2023 | March 31, 2022 | |
Ordinary income | $176,286,115 | $184,269,868 |
Long-term capital gains | 650,561,696 | 1,525,242,472 |
Total | $826,847,811 | $1,709,512,340 |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 29 |
Class | Expense reduction |
Class A | $86,174 |
Class C | 7,013 |
Class I | 425,250 |
Class R2 | 3,721 |
Class R4 | 3,863 |
Class | Expense reduction |
Class R5 | $4,219 |
Class R6 | 288,392 |
Class NAV | 88,487 |
Total | $907,119 |
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% |
30 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT |
Class | Distribution and service fees | Transfer agent fees |
Class A | $2,924,500 | $1,347,019 |
Class C | 949,408 | 109,527 |
Class I | — | 6,646,820 |
Class R2 | 249,645 | 4,788 |
Class R4 | 181,992 | 4,971 |
Class R5 | 28,147 | 5,433 |
Class R6 | — | 371,816 |
Total | $4,333,692 | $8,490,374 |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 31 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Lender | $38,290,909 | 11 | 3.589% | $41,996 |
Year Ended 3-31-23 | Year Ended 3-31-22 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 11,487,537 | $260,789,383 | 9,714,749 | $247,593,735 |
Distributions reinvested | 3,232,754 | 69,439,558 | 5,703,557 | 134,832,091 |
Repurchased | (9,230,692) | (208,120,479) | (8,331,972) | (213,497,612) |
Net increase | 5,489,599 | $122,108,462 | 7,086,334 | $168,928,214 |
Class C shares | ||||
Sold | 540,145 | $11,257,476 | 582,924 | $13,606,830 |
Distributions reinvested | 255,062 | 5,034,920 | 677,543 | 14,790,755 |
Repurchased | (1,952,915) | (40,475,652) | (1,972,814) | (46,783,606) |
Net decrease | (1,157,708) | $(24,183,256) | (712,347) | $(18,386,021) |
Class I shares | ||||
Sold | 78,536,957 | $1,698,598,666 | 65,886,934 | $1,617,962,179 |
Distributions reinvested | 14,783,198 | 303,794,722 | 27,751,495 | 629,403,911 |
Repurchased | (77,508,306) | (1,673,382,213) | (72,828,360) | (1,783,032,506) |
Net increase | 15,811,849 | $329,011,175 | 20,810,069 | $464,333,584 |
Class R2 shares | ||||
Sold | 350,725 | $7,554,442 | 712,517 | $17,103,250 |
Distributions reinvested | 130,818 | 2,686,996 | 213,199 | 4,831,085 |
Repurchased | (415,824) | (8,986,710) | (914,343) | (22,767,623) |
Net increase (decrease) | 65,719 | $1,254,728 | 11,373 | $(833,288) |
Class R4 shares | ||||
Sold | 365,406 | $7,960,704 | 1,047,552 | $25,667,362 |
Distributions reinvested | 159,835 | 3,287,805 | 321,877 | 7,303,391 |
Repurchased | (783,372) | (17,255,440) | (1,343,465) | (32,808,860) |
Net increase (decrease) | (258,131) | $(6,006,931) | 25,964 | $161,893 |
32 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT |
Year Ended 3-31-23 | Year Ended 3-31-22 | |||
Shares | Amount | Shares | Amount | |
Class R5 shares | ||||
Sold | 605,864 | $13,215,144 | 1,123,572 | $28,566,813 |
Distributions reinvested | 180,756 | 3,723,568 | 323,802 | 7,360,008 |
Repurchased | (506,554) | (11,099,083) | (577,470) | (14,368,896) |
Net increase | 280,066 | $5,839,629 | 869,904 | $21,557,925 |
Class R6 shares | ||||
Sold | 38,201,528 | $836,424,332 | 40,338,709 | $1,001,352,142 |
Distributions reinvested | 11,897,340 | 244,966,235 | 22,054,696 | 501,082,696 |
Repurchased | (35,301,198) | (766,137,436) | (53,460,780) | (1,316,599,662) |
Net increase | 14,797,670 | $315,253,131 | 8,932,625 | $185,835,176 |
Class NAV shares | ||||
Sold | 2,897,018 | $61,504,415 | 2,095,577 | $52,158,633 |
Distributions reinvested | 3,834,053 | 78,981,499 | 8,293,312 | 188,506,983 |
Repurchased | (9,597,497) | (213,276,325) | (14,445,593) | (358,671,246) |
Net decrease | (2,866,426) | $(72,790,411) | (4,056,704) | $(118,005,630) |
Total net increase | 32,162,638 | $670,486,527 | 32,967,218 | $703,591,853 |
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* | 749,311 | — | $331,724,610 | $(324,247,077) | $10,676 | $2,581 | $73,359 | — | $7,490,790 |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 33 |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
34 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 35 |
36 | JOHN HANCOCK DISCIPLINED VALUE 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; |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 37 |
• | The Fund did not experience any breaches of the 15% limit on illiquid investments, or any applicable HLIM, that would require reporting to the Securities and Exchange Commission; |
• | The Fund continued to qualify as a Primarily Highly Liquid Fund under the Liquidity Rule and therefore is not required to establish a HLIM; and |
• | The Chief Compliance Officer’s office, 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. |
38 | JOHN HANCOCK DISCIPLINED VALUE 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 | 186 |
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 | 183 |
Trustee | ||
Board Member, United of Omaha Life Insurance Company (since 2022). Board Member, Mutual of Omaha Investor Services, Inc. (since 2022). Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). 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). | ||
William H. Cunningham,2 Born: 1944 | 2006 | 184 |
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; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | ||
Noni L. Ellison,* Born: 1971 | 2022 | 183 |
Trustee | ||
Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children’s Healthcare of Atlanta Foundation Board (2021–present). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | ||
Grace K. Fey, Born: 1946 | 2012 | 186 |
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). | ||
Dean C. Garfield,* Born: 1968 | 2022 | 183 |
Trustee | ||
Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 39 |
Independent Trustees (continued) | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Deborah C. Jackson, Born: 1952 | 2008 | 185 |
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); 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 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). | ||
Patricia Lizarraga,2,* Born: 1966 | 2022 | 183 |
Trustee | ||
Founder, Chief Executive Officer, Hypatia Capital Group (advisory and asset management company) (since 2007); Independent Director, Audit Committee Chair, and Risk Committee Member, Credicorp, Ltd. (since 2017); Independent Director, Audit Committee Chair, Banco De Credito Del Peru (since 2017); Trustee, Museum of Art of Lima (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | ||
Steven R. Pruchansky, Born: 1944 | 2006 | 183 |
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 | 183 |
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 and Audit Committee Chair, 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 | 183 |
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); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
40 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
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 | 184 |
President and Non-Independent Trustee | ||
Global Head of Retail for Manulife (since 2022); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | ||
Marianne Harrison,^ Born: 1963 | 2018 | 183 |
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 and since 2017). Trustee of various trusts within the John Hancock Fund Complex (since 2018). | ||
Paul Lorentz,† Born: 1968 | 2022 | 183 |
Non-Independent Trustee | ||
Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |
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). |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 41 |
Principal officers who are not Trustees (continued) | |
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years | Current Position(s) with the Trust since |
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). |
1 | Each Trustee holds office until his or her successor is duly 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. |
* | Elected to serve as Independent Trustee effective as of September 9, 2022. |
^ | Ms. Harrison is retiring effective May 1, 2023. |
† | Elected to serve as Non-Independent Trustee effective as of September 9, 2022. |
42 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
William H. Cunningham*
Grace K. Fey
Noni L. Ellison^
Dean C. Garfield^
Marianne Harrison†,#
Deborah C. Jackson
Patricia Lizarraga*,^
Paul Lorentz‡
Frances G. Rathke*
Gregory A. Russo
President
Chief Financial Officer
Treasurer
Secretary and Chief Legal Officer
Chief Compliance Officer
Mark E. Donovan, CFA
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 |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 43 |
GOVERNANCE FUNDS
with a heritage of financial stewardship dating back to 1862. Helping
our shareholders pursue their financial goals is at the core of everything
we do. It’s why we support the role of professional financial advice
and operate with the highest standards of conduct and integrity.
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
a diverse set of investments backed by some of the world’s best
managers, along with strong risk-adjusted returns across asset classes.
200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
MF2833351 | 330A 3/23 |
Manulife Investment Management
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 1 |
2 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 3 |
TOP 10 HOLDINGS AS OF 3/31/2023 (% of net assets) | |
Ameriprise Financial, Inc. | 2.1 |
AutoZone, Inc. | 1.9 |
CenterPoint Energy, Inc. | 1.8 |
AMETEK, Inc. | 1.7 |
Dover Corp. | 1.7 |
Parker-Hannifin Corp. | 1.5 |
AmerisourceBergen Corp. | 1.4 |
Howmet Aerospace, Inc. | 1.3 |
ICON PLC | 1.3 |
Textron, Inc. | 1.3 |
TOTAL | 16.0 |
Cash and cash equivalents are not included. |
4 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 5 |
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | ||||
1-year | 5-year | 10-year | 5-year | 10-year | |
Class A | -10.24 | 5.78 | 9.55 | 32.43 | 148.92 |
Class C | -7.12 | 6.08 | 9.29 | 34.31 | 143.01 |
Class I1 | -5.31 | 7.13 | 10.40 | 41.14 | 168.84 |
Class R21 | -5.65 | 6.72 | 9.96 | 38.43 | 158.41 |
Class R41,2 | -5.42 | 6.99 | 10.21 | 40.17 | 164.45 |
Class R61 | -5.21 | 7.25 | 10.51 | 41.91 | 171.54 |
Index† | -9.22 | 6.54 | 8.80 | 37.24 | 132.37 |
Class A | Class C | Class I | Class R2 | Class R4 | Class R6 | |
Gross (%) | 1.11 | 1.86 | 0.86 | 1.25 | 1.10 | 0.75 |
Net (%) | 1.10 | 1.85 | 0.85 | 1.24 | 0.99 | 0.75 |
6 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT |
Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class C3 | 3-31-13 | 24,301 | 24,301 | 23,237 |
Class I1 | 3-31-13 | 26,884 | 26,884 | 23,237 |
Class R21 | 3-31-13 | 25,841 | 25,841 | 23,237 |
Class R41,2 | 3-31-13 | 26,445 | 26,445 | 23,237 |
Class R61 | 3-31-13 | 27,154 | 27,154 | 23,237 |
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 |
8 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT |
Account value on 10-1-2022 | Ending value on 3-31-2023 | Expenses paid during period ended 3-31-20231 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,147.60 | $5.94 | 1.11% |
Hypothetical example | 1,000.00 | 1,019.40 | 5.59 | 1.11% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,143.90 | 9.94 | 1.86% |
Hypothetical example | 1,000.00 | 1,015.70 | 9.35 | 1.86% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,149.20 | 4.61 | 0.86% |
Hypothetical example | 1,000.00 | 1,020.60 | 4.33 | 0.86% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 1,146.90 | 6.69 | 1.25% |
Hypothetical example | 1,000.00 | 1,018.70 | 6.29 | 1.25% | |
Class R4 | Actual expenses/actual returns | 1,000.00 | 1,148.80 | 5.41 | 1.01% |
Hypothetical example | 1,000.00 | 1,019.90 | 5.09 | 1.01% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,149.40 | 4.07 | 0.76% |
Hypothetical example | 1,000.00 | 1,021.10 | 3.83 | 0.76% |
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 96.7% | $19,060,076,030 | ||||
(Cost $14,587,189,442) | |||||
Communication services 1.9% | 362,622,148 | ||||
Entertainment 0.8% | |||||
Live Nation Entertainment, Inc. (A) | 697,343 | 48,814,010 | |||
Take-Two Interactive Software, Inc. (A) | 828,724 | 98,866,773 | |||
Media 1.1% | |||||
Nexstar Media Group, Inc. | 364,372 | 62,912,470 | |||
TEGNA, Inc. | 3,665,340 | 61,980,899 | |||
The Interpublic Group of Companies, Inc. | 2,418,045 | 90,047,996 | |||
Consumer discretionary 15.0% | 2,960,228,960 | ||||
Automobile components 0.9% | |||||
Gentex Corp. | 4,141,994 | 116,100,092 | |||
Lear Corp. | 439,740 | 61,339,333 | |||
Automobiles 0.8% | |||||
Harley-Davidson, Inc. | 3,997,206 | 151,773,912 | |||
Broadline retail 0.5% | |||||
eBay, Inc. | 2,059,629 | 91,385,739 | |||
Distributors 0.8% | |||||
LKQ Corp. | 2,641,116 | 149,909,744 | |||
Diversified consumer services 0.9% | |||||
frontdoor, Inc. (A) | 3,430,978 | 95,655,667 | |||
H&R Block, Inc. | 2,549,230 | 89,860,358 | |||
Hotels, restaurants and leisure 4.4% | |||||
Boyd Gaming Corp. | 809,616 | 51,912,578 | |||
Darden Restaurants, Inc. | 760,233 | 117,957,752 | |||
Domino’s Pizza, Inc. | 173,197 | 57,132,494 | |||
Expedia Group, Inc. (A) | 1,319,090 | 127,991,303 | |||
International Game Technology PLC | 2,888,240 | 77,404,832 | |||
Las Vegas Sands Corp. (A) | 2,188,457 | 125,726,855 | |||
Marriott International, Inc., Class A | 1,044,572 | 173,440,735 | |||
Wyndham Hotels & Resorts, Inc. | 2,025,500 | 137,430,175 | |||
Household durables 3.0% | |||||
Garmin, Ltd. | 1,392,955 | 140,577,019 | |||
Mohawk Industries, Inc. (A) | 541,960 | 54,315,231 | |||
NVR, Inc. (A) | 20,251 | 112,842,420 | |||
Tempur Sealy International, Inc. | 4,459,876 | 176,120,503 | |||
Whirlpool Corp. | 900,939 | 118,941,967 | |||
Leisure products 0.8% | |||||
Polaris, Inc. | 1,524,810 | 168,689,730 |
10 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Consumer discretionary (continued) | |||||
Specialty retail 2.9% | |||||
AutoZone, Inc. (A) | 149,608 | $367,758,905 | |||
Ross Stores, Inc. | 1,846,430 | 195,961,616 | |||
Consumer staples 2.2% | 436,847,048 | ||||
Beverages 1.2% | |||||
Coca-Cola Europacific Partners PLC | 1,919,997 | 113,644,622 | |||
Keurig Dr. Pepper, Inc. | 3,376,296 | 119,115,723 | |||
Consumer staples distribution and retail 1.0% | |||||
U.S. Foods Holding Corp. (A) | 5,524,816 | 204,086,703 | |||
Energy 5.3% | 1,040,861,020 | ||||
Energy equipment and services 2.1% | |||||
Halliburton Company | 7,566,304 | 239,397,859 | |||
Schlumberger, Ltd. | 3,595,927 | 176,560,016 | |||
Oil, gas and consumable fuels 3.2% | |||||
Devon Energy Corp. | 2,209,127 | 111,803,917 | |||
Diamondback Energy, Inc. | 767,703 | 103,770,415 | |||
Marathon Petroleum Corp. | 1,158,075 | 156,143,252 | |||
Pioneer Natural Resources Company | 560,506 | 114,477,745 | |||
Valero Energy Corp. | 993,609 | 138,707,816 | |||
Financials 13.7% | 2,692,392,879 | ||||
Banks 2.5% | |||||
East West Bancorp, Inc. | 2,826,362 | 156,863,091 | |||
Fifth Third Bancorp | 5,858,674 | 156,075,075 | |||
Huntington Bancshares, Inc. | 15,261,552 | 170,929,382 | |||
Capital markets 2.7% | |||||
Ameriprise Financial, Inc. | 1,339,202 | 410,465,412 | |||
Ares Management Corp., Class A | 1,420,133 | 118,495,898 | |||
Consumer finance 1.2% | |||||
Discover Financial Services | 2,172,891 | 214,768,546 | |||
SLM Corp. | 2,457,269 | 30,445,563 | |||
Financial services 1.4% | |||||
Fidelity National Information Services, Inc. | 1,113,407 | 60,491,402 | |||
FleetCor Technologies, Inc. (A) | 400,592 | 84,464,823 | |||
Global Payments, Inc. | 723,315 | 76,121,671 | |||
Voya Financial, Inc. | 731,320 | 52,260,127 | |||
Insurance 5.9% | |||||
Aflac, Inc. | 1,644,569 | 106,107,592 | |||
Aon PLC, Class A | 607,915 | 191,669,520 | |||
Arch Capital Group, Ltd. (A) | 1,532,596 | 104,017,291 | |||
Arthur J. Gallagher & Company | 763,056 | 145,980,243 | |||
Everest Re Group, Ltd. | 612,656 | 219,343,101 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 11 |
Shares | Value | ||||
Financials (continued) | |||||
Insurance (continued) | |||||
First American Financial Corp. | 966,713 | $53,807,246 | |||
Globe Life, Inc. | 1,338,752 | 147,289,495 | |||
RenaissanceRe Holdings, Ltd. | 416,435 | 83,428,588 | |||
The Allstate Corp. | 453,971 | 50,304,527 | |||
The Travelers Companies, Inc. | 344,579 | 59,064,286 | |||
Health care 7.7% | 1,523,519,855 | ||||
Health care equipment and supplies 1.3% | |||||
Envista Holdings Corp. (A) | 1,832,041 | 74,893,836 | |||
Zimmer Biomet Holdings, Inc. | 1,327,612 | 171,527,470 | |||
Health care providers and services 4.5% | |||||
AmerisourceBergen Corp. | 1,782,283 | 285,361,331 | |||
Centene Corp. (A) | 806,682 | 50,990,369 | |||
HCA Healthcare, Inc. | 896,602 | 236,416,015 | |||
Humana, Inc. | 352,023 | 170,893,086 | |||
Laboratory Corp. of America Holdings | 408,108 | 93,628,137 | |||
Molina Healthcare, Inc. (A) | 16,467 | 4,387,211 | |||
The Cigna Group | 202,358 | 51,708,540 | |||
Life sciences tools and services 1.9% | |||||
Avantor, Inc. (A) | 2,846,423 | 60,173,382 | |||
ICON PLC (A) | 1,204,174 | 257,199,525 | |||
IQVIA Holdings, Inc. (A) | 333,556 | 66,340,953 | |||
Industrials 24.6% | 4,857,273,669 | ||||
Aerospace and defense 5.1% | |||||
BWX Technologies, Inc. | 2,186,417 | 137,831,728 | |||
Curtiss-Wright Corp. | 874,789 | 154,190,309 | |||
Hexcel Corp. | 2,050,744 | 139,963,278 | |||
Howmet Aerospace, Inc. | 6,194,313 | 262,453,042 | |||
L3Harris Technologies, Inc. | 292,586 | 57,417,077 | |||
Textron, Inc. | 3,509,138 | 247,850,417 | |||
Air freight and logistics 0.9% | |||||
Expeditors International of Washington, Inc. | 1,542,752 | 169,887,850 | |||
Building products 2.8% | |||||
Advanced Drainage Systems, Inc. | 625,937 | 52,710,155 | |||
Allegion PLC | 1,758,106 | 187,642,653 | |||
Builders FirstSource, Inc. (A) | 823,989 | 73,153,743 | |||
Masco Corp. | 3,523,699 | 175,198,314 | |||
Resideo Technologies, Inc. (A) | 4,108,850 | 75,109,778 | |||
Commercial services and supplies 1.5% | |||||
Copart, Inc. (A) | 2,051,476 | 154,291,510 | |||
Ritchie Brothers Auctioneers, Inc. | 2,510,664 | 141,325,277 |
12 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Industrials (continued) | |||||
Electrical equipment 3.4% | |||||
AMETEK, Inc. | 2,357,077 | $342,554,000 | |||
Eaton Corp. PLC | 1,324,650 | 226,965,531 | |||
nVent Electric PLC | 2,394,393 | 102,815,235 | |||
Ground transportation 1.6% | |||||
Landstar System, Inc. | 848,874 | 152,169,153 | |||
Norfolk Southern Corp. | 763,448 | 161,850,976 | |||
Machinery 4.9% | |||||
Dover Corp. | 2,222,728 | 337,721,292 | |||
Fortive Corp. | 1,556,258 | 106,090,108 | |||
ITT, Inc. | 808,898 | 69,807,897 | |||
Otis Worldwide Corp. | 1,942,410 | 163,939,404 | |||
Parker-Hannifin Corp. | 854,117 | 287,077,265 | |||
Passenger airlines 0.5% | |||||
Alaska Air Group, Inc. (A) | 2,566,296 | 107,681,780 | |||
Professional services 3.2% | |||||
ASGN, Inc. (A) | 729,593 | 60,315,453 | |||
Leidos Holdings, Inc. | 1,197,455 | 110,237,707 | |||
Robert Half International, Inc. | 819,186 | 66,001,816 | |||
Science Applications International Corp. | 1,204,535 | 129,439,331 | |||
SS&C Technologies Holdings, Inc. | 2,757,094 | 155,693,098 | |||
TransUnion | 1,659,322 | 103,110,269 | |||
Trading companies and distributors 0.7% | |||||
Ferguson PLC | 1,082,454 | 144,778,223 | |||
Information technology 8.0% | 1,573,058,415 | ||||
Electronic equipment, instruments and components 1.3% | |||||
Flex, Ltd. (A) | 3,427,287 | 78,861,874 | |||
TE Connectivity, Ltd. | 1,299,073 | 170,373,424 | |||
IT services 0.6% | |||||
Cognizant Technology Solutions Corp., Class A | 2,015,876 | 122,827,325 | |||
Semiconductors and semiconductor equipment 3.1% | |||||
KLA Corp. | 146,050 | 58,298,779 | |||
Microchip Technology, Inc. | 2,653,986 | 222,350,947 | |||
NXP Semiconductors NV | 665,934 | 124,180,043 | |||
Qorvo, Inc. (A) | 1,438,727 | 146,131,501 | |||
Teradyne, Inc. | 620,917 | 66,754,787 | |||
Software 2.0% | |||||
Check Point Software Technologies, Ltd. (A) | 1,421,003 | 184,730,390 | |||
Fair Isaac Corp. (A) | 199,430 | 140,137,467 | |||
Gen Digital, Inc. | 4,311,077 | 73,978,081 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 13 |
Shares | Value | ||||
Information technology (continued) | |||||
Technology hardware, storage and peripherals 1.0% | |||||
NetApp, Inc. | 1,643,290 | $104,924,067 | |||
Western Digital Corp. (A) | 2,110,691 | 79,509,730 | |||
Materials 6.0% | 1,179,171,294 | ||||
Chemicals 5.5% | |||||
Axalta Coating Systems, Ltd. (A) | 4,724,549 | 143,106,589 | |||
Corteva, Inc. | 3,917,734 | 236,278,538 | |||
DuPont de Nemours, Inc. | 3,072,850 | 220,538,445 | |||
FMC Corp. | 1,308,366 | 159,790,740 | |||
PPG Industries, Inc. | 1,528,026 | 204,113,713 | |||
Valvoline, Inc. | 3,510,693 | 122,663,613 | |||
Containers and packaging 0.5% | |||||
Avery Dennison Corp. | 517,966 | 92,679,656 | |||
Real estate 7.2% | 1,424,285,311 | ||||
Health care REITs 1.2% | |||||
Healthpeak Properties, Inc. | 3,600,816 | 79,109,928 | |||
Welltower, Inc. | 2,165,277 | 155,228,708 | |||
Industrial REITs 0.6% | |||||
Prologis, Inc. | 1,043,893 | 130,246,530 | |||
Office REITs 0.2% | |||||
Kilroy Realty Corp. | 1,269,328 | 41,126,227 | |||
Residential REITs 2.1% | |||||
American Homes 4 Rent, Class A | 2,676,953 | 84,190,172 | |||
Equity LifeStyle Properties, Inc. | 1,200,785 | 80,608,697 | |||
Equity Residential | 2,006,182 | 120,370,920 | |||
Essex Property Trust, Inc. | 598,844 | 125,242,234 | |||
Retail REITs 1.8% | |||||
Regency Centers Corp. | 2,996,565 | 183,329,847 | |||
Simon Property Group, Inc. | 1,520,844 | 170,288,903 | |||
Specialized REITs 1.3% | |||||
Lamar Advertising Company, Class A | 1,633,453 | 163,165,620 | |||
VICI Properties, Inc. | 2,801,273 | 91,377,525 | |||
Utilities 5.1% | 1,009,815,431 | ||||
Electric utilities 2.7% | |||||
American Electric Power Company, Inc. | 2,040,350 | 185,651,447 | |||
Entergy Corp. | 2,057,715 | 221,698,214 | |||
FirstEnergy Corp. | 3,310,314 | 132,611,179 | |||
Multi-utilities 2.4% | |||||
CenterPoint Energy, Inc. | 11,723,281 | 345,367,858 | |||
DTE Energy Company | 1,136,450 | 124,486,733 | |||
14 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Yield (%) | Shares | Value | |||
Short-term investments 3.1% | $618,406,590 | ||||
(Cost $618,406,590) | |||||
Short-term funds 3.1% | 618,406,590 | ||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 4.6799(B) | 618,406,590 | 618,406,590 |
Total investments (Cost $15,205,596,032) 99.8% | $19,678,482,620 | ||||
Other assets and liabilities, net 0.2% | 42,330,224 | ||||
Total net assets 100.0% | $19,720,812,844 |
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 3-31-23. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 15 |
Assets | |
Unaffiliated investments, at value (Cost $15,205,596,032) | $19,678,482,620 |
Dividends and interest receivable | 21,277,494 |
Receivable for fund shares sold | 31,950,174 |
Receivable for investments sold | 39,920,522 |
Receivable for securities lending income | 77,505 |
Other assets | 1,880,614 |
Total assets | 19,773,588,929 |
Liabilities | |
Due to custodian | 1,443,845 |
Payable for investments purchased | 32,251,172 |
Payable for fund shares repurchased | 15,552,307 |
Payable to affiliates | |
Accounting and legal services fees | 851,538 |
Transfer agent fees | 1,379,597 |
Distribution and service fees | 31,084 |
Trustees’ fees | 712 |
Other liabilities and accrued expenses | 1,265,830 |
Total liabilities | 52,776,085 |
Net assets | $19,720,812,844 |
Net assets consist of | |
Paid-in capital | $15,200,638,264 |
Total distributable earnings (loss) | 4,520,174,580 |
Net assets | $19,720,812,844 |
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 ($1,362,777,532 ÷ 57,887,621 shares)1 | $23.54 |
Class C ($55,671,115 ÷ 2,374,420 shares)1 | $23.45 |
Class I ($13,214,610,887 ÷ 533,699,684 shares) | $24.76 |
Class R2 ($88,835,486 ÷ 3,605,473 shares) | $24.64 |
Class R4 ($132,837,201 ÷ 5,372,389 shares) | $24.73 |
Class R6 ($4,866,080,623 ÷ 196,574,612 shares) | $24.75 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $24.78 |
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 | $367,397,654 |
Interest | 13,383,622 |
Securities lending | 96,631 |
Less foreign taxes withheld | (359,287) |
Total investment income | 380,518,620 |
Expenses | |
Investment management fees | 138,636,676 |
Distribution and service fees | 4,881,110 |
Accounting and legal services fees | 3,095,183 |
Transfer agent fees | 17,522,013 |
Trustees’ fees | 415,188 |
Custodian fees | 2,072,353 |
State registration fees | 533,130 |
Printing and postage | 1,199,921 |
Professional fees | 682,078 |
Other | 516,274 |
Total expenses | 169,553,926 |
Less expense reductions | (1,573,522) |
Net expenses | 167,980,404 |
Net investment income | 212,538,216 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments | 448,482,884 |
Affiliated investments | (24,019) |
448,458,865 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments | (1,813,902,820) |
Affiliated investments | (1,998) |
(1,813,904,818) | |
Net realized and unrealized loss | (1,365,445,953) |
Decrease in net assets from operations | $(1,152,907,737) |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Mid Cap Fund | 17 |
Year ended 3-31-23 | Year ended 3-31-22 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $212,538,216 | $115,090,424 |
Net realized gain | 448,458,865 | 1,065,699,470 |
Change in net unrealized appreciation (depreciation) | (1,813,904,818) | 836,671,267 |
Increase (decrease) in net assets resulting from operations | (1,152,907,737) | 2,017,461,161 |
Distributions to shareholders | ||
From earnings | ||
Class A | (68,491,079) | (93,487,984) |
Class C | (2,338,456) | (4,250,422) |
Class I | (658,888,932) | (907,220,543) |
Class R2 | (4,080,287) | (6,373,136) |
Class R4 | (6,150,289) | (8,561,772) |
Class R6 | (236,898,601) | (291,253,364) |
Total distributions | (976,847,644) | (1,311,147,221) |
From fund share transactions | 445,042,085 | 3,456,435,841 |
Total increase (decrease) | (1,684,713,296) | 4,162,749,781 |
Net assets | ||
Beginning of year | 21,405,526,140 | 17,242,776,359 |
End of year | $19,720,812,844 | $21,405,526,140 |
18 | JOHN HANCOCK Disciplined Value Mid Cap Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS A SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $26.25 | $25.33 | $14.91 | $19.08 | $22.35 |
Net investment income1 | 0.20 | 0.09 | 0.10 | 0.14 | 0.12 |
Net realized and unrealized gain (loss) on investments | (1.69) | 2.60 | 10.54 | (3.83) | (1.01) |
Total from investment operations | (1.49) | 2.69 | 10.64 | (3.69) | (0.89) |
Less distributions | |||||
From net investment income | (0.19) | (0.07) | (0.14) | (0.14) | (0.13) |
From net realized gain | (1.03) | (1.70) | (0.08) | (0.34) | (2.25) |
Total distributions | (1.22) | (1.77) | (0.22) | (0.48) | (2.38) |
Net asset value, end of period | $23.54 | $26.25 | $25.33 | $14.91 | $19.08 |
Total return (%)2,3 | (5.53) | 10.91 | 71.55 | (20.06) | (2.98) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1,363 | $1,486 | $1,204 | $782 | $1,184 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.12 | 1.11 | 1.12 | 1.12 | 1.11 |
Expenses including reductions | 1.11 | 1.10 | 1.11 | 1.12 | 1.10 |
Net investment income | 0.83 | 0.34 | 0.52 | 0.70 | 0.58 |
Portfolio turnover (%) | 41 | 26 | 524 | 54 | 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 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $26.14 | $25.34 | $14.94 | $19.13 | $22.42 |
Net investment income (loss)1 | 0.02 | (0.12) | (0.05) | (0.01) | (0.04) |
Net realized and unrealized gain (loss) on investments | (1.68) | 2.62 | 10.53 | (3.84) | (1.00) |
Total from investment operations | (1.66) | 2.50 | 10.48 | (3.85) | (1.04) |
Less distributions | |||||
From net realized gain | (1.03) | (1.70) | (0.08) | (0.34) | (2.25) |
Net asset value, end of period | $23.45 | $26.14 | $25.34 | $14.94 | $19.13 |
Total return (%)2,3 | (6.22) | 10.12 | 70.20 | (20.63) | (3.72) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $56 | $62 | $92 | $107 | $182 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.87 | 1.86 | 1.87 | 1.87 | 1.86 |
Expenses including reductions | 1.86 | 1.85 | 1.86 | 1.87 | 1.85 |
Net investment income (loss) | 0.08 | (0.46) | (0.23) | (0.07) | (0.19) |
Portfolio turnover (%) | 41 | 26 | 524 | 54 | 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 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $27.55 | $26.49 | $15.58 | $19.91 | $23.22 |
Net investment income1 | 0.27 | 0.16 | 0.16 | 0.20 | 0.18 |
Net realized and unrealized gain (loss) on investments | (1.78) | 2.74 | 11.02 | (4.00) | (1.06) |
Total from investment operations | (1.51) | 2.90 | 11.18 | (3.80) | (0.88) |
Less distributions | |||||
From net investment income | (0.25) | (0.14) | (0.19) | (0.19) | (0.18) |
From net realized gain | (1.03) | (1.70) | (0.08) | (0.34) | (2.25) |
Total distributions | (1.28) | (1.84) | (0.27) | (0.53) | (2.43) |
Net asset value, end of period | $24.76 | $27.55 | $26.49 | $15.58 | $19.91 |
Total return (%)2 | (5.31) | 11.23 | 71.97 | (19.84) | (2.79) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $13,215 | $14,847 | $11,932 | $6,349 | $7,784 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.87 | 0.86 | 0.87 | 0.87 | 0.88 |
Expenses including reductions | 0.86 | 0.85 | 0.86 | 0.87 | 0.87 |
Net investment income | 1.08 | 0.59 | 0.78 | 0.97 | 0.82 |
Portfolio turnover (%) | 41 | 26 | 523 | 54 | 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 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $27.41 | $26.37 | $15.53 | $19.85 | $23.14 |
Net investment income1 | 0.17 | 0.05 | 0.08 | 0.11 | 0.09 |
Net realized and unrealized gain (loss) on investments | (1.76) | 2.73 | 10.96 | (3.98) | (1.04) |
Total from investment operations | (1.59) | 2.78 | 11.04 | (3.87) | (0.95) |
Less distributions | |||||
From net investment income | (0.15) | (0.04) | (0.12) | (0.11) | (0.09) |
From net realized gain | (1.03) | (1.70) | (0.08) | (0.34) | (2.25) |
Total distributions | (1.18) | (1.74) | (0.20) | (0.45) | (2.34) |
Net asset value, end of period | $24.64 | $27.41 | $26.37 | $15.53 | $19.85 |
Total return (%)2 | (5.65) | 10.78 | 71.23 | (20.14) | (3.14) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $89 | $103 | $106 | $77 | $131 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.26 | 1.25 | 1.25 | 1.26 | 1.27 |
Expenses including reductions | 1.25 | 1.24 | 1.24 | 1.25 | 1.26 |
Net investment income | 0.68 | 0.18 | 0.39 | 0.54 | 0.41 |
Portfolio turnover (%) | 41 | 26 | 523 | 54 | 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 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $27.51 | $26.46 | $15.57 | $19.90 | $23.20 |
Net investment income1 | 0.24 | 0.12 | 0.14 | 0.17 | 0.15 |
Net realized and unrealized gain (loss) on investments | (1.77) | 2.73 | 10.99 | (4.00) | (1.05) |
Total from investment operations | (1.53) | 2.85 | 11.13 | (3.83) | (0.90) |
Less distributions | |||||
From net investment income | (0.22) | (0.10) | (0.16) | (0.16) | (0.15) |
From net realized gain | (1.03) | (1.70) | (0.08) | (0.34) | (2.25) |
Total distributions | (1.25) | (1.80) | (0.24) | (0.50) | (2.40) |
Net asset value, end of period | $24.73 | $27.51 | $26.46 | $15.57 | $19.90 |
Total return (%)2 | (5.42) | 11.06 | 71.69 | (19.96) | (2.90) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $133 | $141 | $130 | $55 | $74 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.11 | 1.10 | 1.11 | 1.11 | 1.12 |
Expenses including reductions | 1.00 | 0.99 | 1.00 | 1.00 | 1.01 |
Net investment income | 0.94 | 0.43 | 0.65 | 0.81 | 0.68 |
Portfolio turnover (%) | 41 | 26 | 523 | 54 | 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 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $27.54 | $26.48 | $15.58 | $19.90 | $23.21 |
Net investment income1 | 0.30 | 0.19 | 0.18 | 0.23 | 0.21 |
Net realized and unrealized gain (loss) on investments | (1.78) | 2.74 | 11.01 | (4.00) | (1.07) |
Total from investment operations | (1.48) | 2.93 | 11.19 | (3.77) | (0.86) |
Less distributions | |||||
From net investment income | (0.28) | (0.17) | (0.21) | (0.21) | (0.20) |
From net realized gain | (1.03) | (1.70) | (0.08) | (0.34) | (2.25) |
Total distributions | (1.31) | (1.87) | (0.29) | (0.55) | (2.45) |
Net asset value, end of period | $24.75 | $27.54 | $26.48 | $15.58 | $19.90 |
Total return (%)2 | (5.21) | 11.36 | 72.06 | (19.72) | (2.66) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $4,866 | $4,768 | $3,778 | $2,546 | $2,994 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.76 | 0.75 | 0.76 | 0.76 | 0.77 |
Expenses including reductions | 0.75 | 0.75 | 0.75 | 0.76 | 0.76 |
Net investment income | 1.20 | 0.69 | 0.88 | 1.08 | 0.96 |
Portfolio turnover (%) | 41 | 26 | 523 | 54 | 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, 2023 | March 31, 2022 | |
Ordinary income | $266,357,404 | $249,150,262 |
Long-term capital gains | 710,490,240 | 1,061,996,959 |
Total | $976,847,644 | $1,311,147,221 |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Mid Cap Fund | 27 |
28 | JOHN HANCOCK Disciplined Value Mid Cap Fund | ANNUAL REPORT |
Class | Expense reduction |
Class A | $101,311 |
Class C | 4,077 |
Class I | 987,469 |
Class R2 | 6,684 |
Class | Expense reduction |
Class R4 | $9,394 |
Class R6 | 337,275 |
Total | $1,446,210 |
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 | $3,434,740 | $1,582,163 |
Class C | 552,454 | 63,607 |
Class I | — | 15,421,246 |
Class R2 | 449,330 | 8,601 |
Class R4 | 444,586 | 12,089 |
Class R6 | — | 434,307 |
Total | $4,881,110 | $17,522,013 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Lender | $41,736,364 | 11 | 2.279% | $29,068 |
Year Ended 3-31-23 | Year Ended 3-31-22 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 13,852,974 | $329,231,098 | 17,271,449 | $459,849,087 |
Distributions reinvested | 2,704,219 | 61,764,360 | 3,233,445 | 81,870,828 |
Repurchased | (15,257,713) | (364,805,578) | (11,461,015) | (303,540,324) |
Net increase | 1,299,480 | $26,189,880 | 9,043,879 | $238,179,591 |
30 | JOHN HANCOCK Disciplined Value Mid Cap Fund | ANNUAL REPORT |
Year Ended 3-31-23 | Year Ended 3-31-22 | |||
Shares | Amount | Shares | Amount | |
Class C shares | ||||
Sold | 641,646 | $15,346,063 | 670,446 | $17,752,159 |
Distributions reinvested | 97,300 | 2,218,445 | 165,026 | 4,168,561 |
Repurchased | (718,198) | (17,155,641) | (2,123,525) | (57,000,431) |
Net increase (decrease) | 20,748 | $408,867 | (1,288,053) | $(35,079,711) |
Class I shares | ||||
Sold | 117,343,311 | $2,967,254,216 | 158,975,602 | $4,421,157,908 |
Distributions reinvested | 24,894,249 | 597,710,907 | 30,847,582 | 819,003,301 |
Repurchased | (147,506,347) | (3,736,180,507) | (101,293,916) | (2,817,335,655) |
Net increase (decrease) | (5,268,787) | $(171,215,384) | 88,529,268 | $2,422,825,554 |
Class R2 shares | ||||
Sold | 783,545 | $19,469,456 | 738,603 | $20,534,775 |
Distributions reinvested | 154,604 | 3,698,119 | 216,500 | 5,726,413 |
Repurchased | (1,079,417) | (27,006,900) | (1,225,374) | (34,017,394) |
Net decrease | (141,268) | $(3,839,325) | (270,271) | $(7,756,206) |
Class R4 shares | ||||
Sold | 1,139,876 | $28,838,842 | 1,442,449 | $40,248,996 |
Distributions reinvested | 256,477 | 6,150,289 | 322,842 | 8,561,772 |
Repurchased | (1,133,100) | (28,644,353) | (1,581,351) | (43,886,059) |
Net increase | 263,253 | $6,344,778 | 183,940 | $4,924,709 |
Class R6 shares | ||||
Sold | 52,018,688 | $1,332,338,484 | 50,998,138 | $1,417,851,144 |
Distributions reinvested | 9,178,130 | 220,183,349 | 10,321,964 | 273,841,708 |
Repurchased | (37,772,828) | (965,368,564) | (30,824,404) | (858,350,948) |
Net increase | 23,423,990 | $587,153,269 | 30,495,698 | $833,341,904 |
Total net increase | 19,597,416 | $445,042,085 | 126,694,461 | $3,456,435,841 |
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* | — | $33,247,148 | $509,481,253 | $(542,702,384) | $(24,019) | $(1,998) | $96,631 | — | — |
* | 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; |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 35 |
• | The Fund did not experience any breaches of the 15% limit on illiquid investments, or any applicable HLIM, that would require reporting to the Securities and Exchange Commission; |
• | The Fund continued to qualify as a Primarily Highly Liquid Fund under the Liquidity Rule and therefore is not required to establish a HLIM; and |
• | The Chief Compliance Officer’s office, 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 | 186 |
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 | 183 |
Trustee | ||
Board Member, United of Omaha Life Insurance Company (since 2022). Board Member, Mutual of Omaha Investor Services, Inc. (since 2022). Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). 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). | ||
William H. Cunningham,2 Born: 1944 | 2006 | 184 |
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; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | ||
Noni L. Ellison,* Born: 1971 | 2022 | 183 |
Trustee | ||
Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children’s Healthcare of Atlanta Foundation Board (2021–present). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | ||
Grace K. Fey, Born: 1946 | 2012 | 186 |
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). | ||
Dean C. Garfield,* Born: 1968 | 2022 | 183 |
Trustee | ||
Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 37 |
Independent Trustees (continued) | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Deborah C. Jackson, Born: 1952 | 2008 | 185 |
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); 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 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). | ||
Patricia Lizarraga,2,* Born: 1966 | 2022 | 183 |
Trustee | ||
Founder, Chief Executive Officer, Hypatia Capital Group (advisory and asset management company) (since 2007); Independent Director, Audit Committee Chair, and Risk Committee Member, Credicorp, Ltd. (since 2017); Independent Director, Audit Committee Chair, Banco De Credito Del Peru (since 2017); Trustee, Museum of Art of Lima (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | ||
Steven R. Pruchansky, Born: 1944 | 2006 | 183 |
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 | 183 |
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 and Audit Committee Chair, 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 | 183 |
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); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
38 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT |
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 | 184 |
President and Non-Independent Trustee | ||
Global Head of Retail for Manulife (since 2022); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | ||
Marianne Harrison,^ Born: 1963 | 2018 | 183 |
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 and since 2017). Trustee of various trusts within the John Hancock Fund Complex (since 2018). | ||
Paul Lorentz,† Born: 1968 | 2022 | 183 |
Non-Independent Trustee | ||
Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |
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). |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 39 |
Principal officers who are not Trustees (continued) | |
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years | Current Position(s) with the Trust since |
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). |
1 | Each Trustee holds office until his or her successor is duly 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. |
* | Elected to serve as Independent Trustee effective as of September 9, 2022. |
^ | Ms. Harrison is retiring effective May 1, 2023. |
† | Elected to serve as Non-Independent Trustee effective as of September 9, 2022. |
40 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
William H. Cunningham*
Grace K. Fey
Noni L. Ellison^
Dean C. Garfield^
Marianne Harrison†,#
Deborah C. Jackson
Patricia Lizarraga*,^
Paul Lorentz‡
Frances G. Rathke*
Gregory A. Russo
President
Chief Financial Officer
Treasurer
Secretary and Chief Legal Officer
Chief Compliance Officer
Joseph F. Feeney, Jr., CFA
Steven L. Pollack, CFA
You can also contact us: | ||
800-225-5291 | Regular mail: | Express mail: |
jhinvestments.com | John Hancock Signature Services, Inc. P.O. Box 219909 Kansas City, MO 64121-9909 | John Hancock Signature Services, Inc. 430 W 7th Street Suite 219909 Kansas City, MO 64105-1407 |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 41 |
GOVERNANCE FUNDS
with a heritage of financial stewardship dating back to 1862. Helping
our shareholders pursue their financial goals is at the core of everything
we do. It’s why we support the role of professional financial advice
and operate with the highest standards of conduct and integrity.
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
a diverse set of investments backed by some of the world’s best
managers, along with strong risk-adjusted returns across asset classes.
200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
MF2833356 | 363A 3/23 |
Manulife Investment Management
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 1 |
2 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 3 |
TOP 10 HOLDINGS AS OF 3/31/2023 (% of net assets) | |
Broadcom, Inc. | 2.4 |
Deutsche Post AG | 2.1 |
Analog Devices, Inc. | 2.1 |
AbbVie, Inc. | 2.0 |
Microsoft Corp. | 2.0 |
IBM Corp. | 1.9 |
Deutsche Telekom AG | 1.8 |
Iron Mountain, Inc. | 1.7 |
Cisco Systems, Inc. | 1.7 |
Sanofi | 1.7 |
TOTAL | 19.4 |
Cash and cash equivalents are not included. |
TOP 10 COUNTRIES AS OF 3/31/2023 (% of net assets) | |
United States | 55.9 |
United Kingdom | 9.1 |
Germany | 7.7 |
France | 7.1 |
Canada | 7.1 |
Switzerland | 2.6 |
South Korea | 1.4 |
Italy | 1.3 |
Japan | 1.2 |
Taiwan | 1.0 |
TOTAL | 94.4 |
Cash and cash equivalents are not included. |
4 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 5 |
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | SEC 30-day yield (%) subsidized | SEC 30-day yield (%) unsubsidized† | |||||
1-year | 5-year | 10-year | 5-year | 10-year | as of 3-31-23 | as of 3-31-23 | ||
Class A | -7.34 | 4.22 | 5.30 | 22.93 | 67.55 | 2.26 | 2.09 | |
Class C | -4.04 | 4.52 | 5.08 | 24.74 | 64.08 | 1.65 | 1.52 | |
Class I1 | -2.22 | 5.56 | 6.13 | 31.08 | 81.34 | 2.63 | 2.50 | |
Class R21 | -2.53 | 5.17 | 5.71 | 28.65 | 74.29 | 2.27 | 2.15 | |
Class R61 | -2.12 | 5.68 | 6.24 | 31.81 | 83.26 | 2.73 | 2.60 | |
Class NAV1 | -2.12 | 5.67 | 6.25 | 31.78 | 83.30 | 2.73 | 2.60 | |
Index†† | -7.02 | 8.01 | 8.85 | 47.00 | 133.55 | — | — |
Class A | Class C | Class I | Class R2 | Class R6 | Class NAV | |
Gross (%) | 1.28 | 1.98 | 0.98 | 1.38 | 0.88 | 0.87 |
Net (%) | 1.09 | 1.84 | 0.84 | 1.24 | 0.74 | 0.86 |
6 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class C2 | 3-31-13 | 16,408 | 16,408 | 23,355 |
Class I1 | 3-31-13 | 18,134 | 18,134 | 23,355 |
Class R21 | 3-31-13 | 17,429 | 17,429 | 23,355 |
Class R61 | 3-31-13 | 18,326 | 18,326 | 23,355 |
Class NAV1 | 3-31-13 | 18,330 | 18,330 | 23,355 |
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 |
8 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
Account value on 10-1-2022 | Ending value on 3-31-2023 | Expenses paid during period ended 3-31-20231 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,179.80 | $5.92 | 1.09% |
Hypothetical example | 1,000.00 | 1,019.50 | 5.49 | 1.09% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,175.90 | 9.98 | 1.84% |
Hypothetical example | 1,000.00 | 1,015.80 | 9.25 | 1.84% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,180.30 | 4.57 | 0.84% |
Hypothetical example | 1,000.00 | 1,020.70 | 4.23 | 0.84% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 1,178.70 | 6.63 | 1.22% |
Hypothetical example | 1,000.00 | 1,018.80 | 6.14 | 1.22% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,181.30 | 4.02 | 0.74% |
Hypothetical example | 1,000.00 | 1,021.20 | 3.73 | 0.74% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 1,182.40 | 4.03 | 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 97.7% | $1,206,742,060 | ||||
(Cost $984,985,665) | |||||
Austria 0.8% | 10,411,354 | ||||
BAWAG Group AG (A)(B) | 214,361 | 10,411,354 | |||
Canada 7.1% | 87,750,326 | ||||
BCE, Inc. | 239,981 | 10,749,870 | |||
Enbridge, Inc. | 320,083 | 12,204,127 | |||
Fortis, Inc. | 161,350 | 6,858,718 | |||
Great-West Lifeco, Inc. | 287,977 | 7,632,509 | |||
Nutrien, Ltd. (New York Stock Exchange) | 151,771 | 11,208,288 | |||
Restaurant Brands International, Inc. | 303,868 | 20,401,698 | |||
Royal Bank of Canada | 90,199 | 8,626,134 | |||
TELUS Corp. | 507,202 | 10,068,982 | |||
France 7.1% | 88,266,893 | ||||
AXA SA | 608,708 | 18,576,376 | |||
Danone SA | 128,098 | 7,970,756 | |||
Orange SA | 1,051,051 | 12,486,724 | |||
Sanofi | 190,039 | 20,615,276 | |||
TotalEnergies SE | 346,626 | 20,438,447 | |||
Vinci SA | 71,346 | 8,179,314 | |||
Germany 7.7% | 95,568,803 | ||||
Allianz SE | 56,752 | 13,100,465 | |||
Bayer AG | 152,420 | 9,736,876 | |||
Deutsche Post AG | 552,201 | 25,862,801 | |||
Deutsche Telekom AG | 945,654 | 22,915,466 | |||
Muenchener Rueckversicherungs-Gesellschaft AG | 41,835 | 14,627,076 | |||
Siemens AG | 57,567 | 9,326,119 | |||
Hong Kong 0.8% | 9,620,508 | ||||
China Resources Gas Group, Ltd. | 2,615,400 | 9,620,508 | |||
Ireland 0.9% | 10,876,283 | ||||
Medtronic PLC | 134,908 | 10,876,283 | |||
Italy 1.3% | 15,816,386 | ||||
Snam SpA | 2,983,063 | 15,816,386 | |||
Japan 1.2% | 14,795,080 | ||||
Bridgestone Corp. | 199,400 | 8,100,167 | |||
Toyota Motor Corp. | 470,300 | 6,694,913 | |||
Norway 0.8% | 9,855,890 | ||||
Orkla ASA | 1,389,619 | 9,855,890 |
10 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
South Korea 1.4% | $17,093,784 | ||||
Samsung Electronics Company, Ltd., GDR (A) | 8,432 | 10,415,922 | |||
SK Telecom Company, Ltd. | 179,986 | 6,677,862 | |||
Switzerland 2.6% | 31,790,510 | ||||
Nestle SA | 64,859 | 7,908,294 | |||
Novartis AG | 189,456 | 17,395,573 | |||
Roche Holding AG | 22,701 | 6,486,643 | |||
Taiwan 1.0% | 12,820,575 | ||||
Taiwan Semiconductor Manufacturing Company, Ltd., ADR | 137,826 | 12,820,575 | |||
United Kingdom 9.1% | 111,923,465 | ||||
AstraZeneca PLC, ADR | 240,627 | 16,701,920 | |||
BAE Systems PLC | 746,859 | 9,034,060 | |||
British American Tobacco PLC | 561,008 | 19,665,702 | |||
Coca-Cola Europacific Partners PLC | 346,831 | 20,528,927 | |||
GSK PLC | 377,483 | 6,669,834 | |||
Imperial Brands PLC | 277,599 | 6,383,543 | |||
National Grid PLC | 927,817 | 12,550,518 | |||
Schroders PLC | 1,161,944 | 6,625,901 | |||
Unilever PLC | 265,600 | 13,763,060 | |||
United States 55.9% | 690,152,203 | ||||
AbbVie, Inc. | 156,636 | 24,963,079 | |||
Air Products & Chemicals, Inc. | 24,541 | 7,048,421 | |||
American Electric Power Company, Inc. | 168,635 | 15,344,099 | |||
Analog Devices, Inc. | 129,070 | 25,455,185 | |||
Apple, Inc. | 64,211 | 10,588,394 | |||
AT&T, Inc. | 423,859 | 8,159,286 | |||
Bank of America Corp. | 236,538 | 6,764,987 | |||
Broadcom, Inc. | 45,401 | 29,126,555 | |||
Chevron Corp. | 42,158 | 6,878,499 | |||
Cisco Systems, Inc. | 398,887 | 20,851,818 | |||
Columbia Banking System, Inc. | 373,915 | 8,009,259 | |||
Cummins, Inc. | 45,993 | 10,986,808 | |||
CVS Health Corp. | 91,531 | 6,801,669 | |||
Dell Technologies, Inc., Class C | 185,053 | 7,440,981 | |||
Dow, Inc. | 221,496 | 12,142,411 | |||
Duke Energy Corp. | 75,628 | 7,295,833 | |||
Eaton Corp. PLC | 50,915 | 8,723,776 | |||
Eli Lilly & Company | 18,162 | 6,237,194 | |||
Emerson Electric Company | 107,018 | 9,325,549 | |||
Entergy Corp. | 86,912 | 9,363,899 | |||
Enterprise Products Partners LP | 672,595 | 17,420,211 | |||
Evergy, Inc. | 180,310 | 11,020,547 | |||
Hasbro, Inc. | 190,964 | 10,252,857 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 11 |
Shares | Value | ||||
United States (continued) | |||||
IBM Corp. | 179,661 | $23,551,760 | |||
Iron Mountain, Inc. | 399,186 | 21,120,931 | |||
Johnson & Johnson | 41,510 | 6,434,050 | |||
JPMorgan Chase & Co. | 101,505 | 13,227,117 | |||
KeyCorp | 744,531 | 9,321,528 | |||
KLA Corp. | 28,538 | 11,391,513 | |||
Lazard, Ltd., Class A | 345,103 | 11,426,360 | |||
Leggett & Platt, Inc. | 228,630 | 7,288,724 | |||
Linde PLC | 20,107 | 7,146,832 | |||
Lockheed Martin Corp. | 14,301 | 6,760,512 | |||
LyondellBasell Industries NV, Class A | 136,853 | 12,849,128 | |||
Magellan Midstream Partners LP | 134,909 | 7,320,162 | |||
Merck & Company, Inc. | 77,507 | 8,245,970 | |||
MetLife, Inc. | 211,443 | 12,251,007 | |||
Microsoft Corp. | 83,994 | 24,215,470 | |||
MPLX LP | 247,440 | 8,524,308 | |||
MSC Industrial Direct Company, Inc., Class A | 177,391 | 14,900,844 | |||
NetApp, Inc. | 133,611 | 8,531,062 | |||
NextEra Energy, Inc. | 145,610 | 11,223,619 | |||
NiSource, Inc. | 267,757 | 7,486,486 | |||
Omnicom Group, Inc. | 83,994 | 7,923,994 | |||
Pfizer, Inc. | 209,821 | 8,560,697 | |||
Philip Morris International, Inc. | 177,272 | 17,239,702 | |||
Pinnacle West Capital Corp. | 95,019 | 7,529,306 | |||
Raytheon Technologies Corp. | 80,426 | 7,876,118 | |||
Realty Income Corp. | 177,577 | 11,244,176 | |||
Texas Instruments, Inc. | 77,183 | 14,356,810 | |||
The Coca-Cola Company | 118,368 | 7,342,367 | |||
The Home Depot, Inc. | 22,377 | 6,603,900 | |||
The PNC Financial Services Group, Inc. | 45,726 | 5,811,775 | |||
Truist Financial Corp. | 174,705 | 5,957,441 | |||
U.S. Bancorp | 239,657 | 8,639,635 | |||
United Parcel Service, Inc., Class B | 49,618 | 9,625,396 | |||
UnitedHealth Group, Inc. | 13,945 | 6,590,268 | |||
Vail Resorts, Inc. | 28,863 | 6,744,706 | |||
Verizon Communications, Inc. | 287,004 | 11,161,586 | |||
Walmart, Inc. | 63,887 | 9,420,138 | |||
WEC Energy Group, Inc. | 74,264 | 7,039,485 | |||
Welltower, Inc. | 102,478 | 7,346,648 | |||
WP Carey, Inc. | 125,492 | 9,719,355 |
Total investments (Cost $984,985,665) 97.7% | $1,206,742,060 | ||||
Other assets and liabilities, net 2.3% | 28,359,382 | ||||
Total net assets 100.0% | $1,235,101,442 |
12 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
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) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
(B) | Non-income producing security. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 13 |
Assets | |
Unaffiliated investments, at value (Cost $984,985,665) | $1,206,742,060 |
Cash | 28,862,518 |
Foreign currency, at value (Cost $402,780) | 404,066 |
Dividends and interest receivable | 5,359,811 |
Receivable for fund shares sold | 1,434,969 |
Receivable for investments sold | 748,923 |
Receivable from affiliates | 5,989 |
Other assets | 227,208 |
Total assets | 1,243,785,544 |
Liabilities | |
Payable for investments purchased | 7,300,503 |
Payable for fund shares repurchased | 1,096,994 |
Payable to affiliates | |
Accounting and legal services fees | 52,162 |
Transfer agent fees | 80,593 |
Distribution and service fees | 89 |
Other liabilities and accrued expenses | 153,761 |
Total liabilities | 8,684,102 |
Net assets | $1,235,101,442 |
Net assets consist of | |
Paid-in capital | $995,813,727 |
Total distributable earnings (loss) | 239,287,715 |
Net assets | $1,235,101,442 |
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 ($304,184,977 ÷ 29,350,245 shares)1 | $10.36 |
Class C ($12,358,649 ÷ 1,188,706 shares)1 | $10.40 |
Class I ($549,757,537 ÷ 52,796,706 shares) | $10.41 |
Class R2 ($564,055 ÷ 54,035 shares) | $10.44 |
Class R6 ($279,365,709 ÷ 26,885,807 shares) | $10.39 |
Class NAV ($88,870,515 ÷ 8,544,915 shares) | $10.40 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $10.91 |
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 Global Shareholder Yield Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Investment income | |
Dividends | $41,918,212 |
Interest | 209,528 |
Securities lending | 229,347 |
Less foreign taxes withheld | (2,268,945) |
Total investment income | 40,088,142 |
Expenses | |
Investment management fees | 8,381,939 |
Distribution and service fees | 1,062,568 |
Accounting and legal services fees | 168,183 |
Transfer agent fees | 814,171 |
Trustees’ fees | 22,118 |
Custodian fees | 245,289 |
State registration fees | 122,307 |
Printing and postage | 87,371 |
Professional fees | 86,028 |
Other | 55,228 |
Total expenses | 11,045,202 |
Less expense reductions | (1,695,437) |
Net expenses | 9,349,765 |
Net investment income | 30,738,377 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | 39,724,209 |
Affiliated investments | (19,925) |
39,704,284 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | (101,168,725) |
Affiliated investments | (584) |
(101,169,309) | |
Net realized and unrealized loss | (61,465,025) |
Decrease in net assets from operations | $(30,726,648) |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 15 |
Year ended 3-31-23 | Year ended 3-31-22 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $30,738,377 | $28,504,415 |
Net realized gain | 39,704,284 | 96,539,107 |
Change in net unrealized appreciation (depreciation) | (101,169,309) | (14,131,070) |
Increase (decrease) in net assets resulting from operations | (30,726,648) | 110,912,452 |
Distributions to shareholders | ||
From earnings | ||
Class A | (26,216,821) | (33,035,751) |
Class C | (1,121,090) | (2,168,246) |
Class I | (31,458,709) | (39,553,873) |
Class R2 | (44,492) | (66,434) |
Class R6 | (24,441,577) | (28,804,562) |
Class NAV | (8,174,701) | (12,045,777) |
Total distributions | (91,457,390) | (115,674,643) |
From fund share transactions | 245,184,839 | (21,146,260) |
Total increase (decrease) | 123,000,801 | (25,908,451) |
Net assets | ||
Beginning of year | 1,112,100,641 | 1,138,009,092 |
End of year | $1,235,101,442 | $1,112,100,641 |
16 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS A SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $11.64 | $11.76 | $8.62 | $11.03 | $11.14 |
Net investment income1 | 0.29 | 0.28 | 0.27 | 0.33 | 0.35 |
Net realized and unrealized gain (loss) on investments | (0.63) | 0.86 | 3.16 | (2.21) | 0.16 |
Total from investment operations | (0.34) | 1.14 | 3.43 | (1.88) | 0.51 |
Less distributions | |||||
From net investment income | (0.33) | (0.28) | (0.29) | (0.33) | (0.35) |
From net realized gain | (0.61) | (0.98) | — | (0.20) | (0.27) |
Total distributions | (0.94) | (1.26) | (0.29) | (0.53) | (0.62) |
Net asset value, end of period | $10.36 | $11.64 | $11.76 | $8.62 | $11.03 |
Total return (%)2,3 | (2.48) | 10.05 | 40.22 | (17.96) | 4.86 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $304 | $327 | $318 | $257 | $334 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.29 | 1.28 | 1.29 | 1.29 | 1.28 |
Expenses including reductions | 1.09 | 1.09 | 1.09 | 1.09 | 1.09 |
Net investment income | 2.73 | 2.32 | 2.58 | 2.96 | 3.18 |
Portfolio turnover (%) | 28 | 24 | 30 | 33 | 16 |
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 Global Shareholder Yield Fund | 17 |
CLASS C SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $11.67 | $11.79 | $8.64 | $11.05 | $11.16 |
Net investment income1 | 0.22 | 0.20 | 0.19 | 0.25 | 0.27 |
Net realized and unrealized gain (loss) on investments | (0.63) | 0.85 | 3.17 | (2.21) | 0.16 |
Total from investment operations | (0.41) | 1.05 | 3.36 | (1.96) | 0.43 |
Less distributions | |||||
From net investment income | (0.25) | (0.19) | (0.21) | (0.25) | (0.27) |
From net realized gain | (0.61) | (0.98) | — | (0.20) | (0.27) |
Total distributions | (0.86) | (1.17) | (0.21) | (0.45) | (0.54) |
Net asset value, end of period | $10.40 | $11.67 | $11.79 | $8.64 | $11.05 |
Total return (%)2,3 | (3.15) | 9.19 | 39.22 | (18.59) | 4.06 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $12 | $20 | $29 | $44 | $75 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.99 | 1.98 | 1.99 | 1.99 | 1.97 |
Expenses including reductions | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 |
Net investment income | 2.06 | 1.63 | 1.89 | 2.27 | 2.49 |
Portfolio turnover (%) | 28 | 24 | 30 | 33 | 16 |
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 Global Shareholder Yield Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS I SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $11.69 | $11.81 | $8.65 | $11.07 | $11.18 |
Net investment income1 | 0.32 | 0.31 | 0.29 | 0.36 | 0.38 |
Net realized and unrealized gain (loss) on investments | (0.63) | 0.86 | 3.18 | (2.22) | 0.16 |
Total from investment operations | (0.31) | 1.17 | 3.47 | (1.86) | 0.54 |
Less distributions | |||||
From net investment income | (0.36) | (0.31) | (0.31) | (0.36) | (0.38) |
From net realized gain | (0.61) | (0.98) | — | (0.20) | (0.27) |
Total distributions | (0.97) | (1.29) | (0.31) | (0.56) | (0.65) |
Net asset value, end of period | $10.41 | $11.69 | $11.81 | $8.65 | $11.07 |
Total return (%)2 | (2.22) | 10.28 | 40.65 | (17.77) | 5.10 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $550 | $377 | $396 | $605 | $815 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.99 | 0.98 | 0.99 | 0.99 | 0.99 |
Expenses including reductions | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 |
Net investment income | 3.00 | 2.59 | 2.78 | 3.22 | 3.44 |
Portfolio turnover (%) | 28 | 24 | 30 | 33 | 16 |
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 Global Shareholder Yield Fund | 19 |
CLASS R2 SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $11.71 | $11.83 | $8.66 | $11.08 | $11.19 |
Net investment income1 | 0.28 | 0.27 | 0.25 | 0.32 | 0.33 |
Net realized and unrealized gain (loss) on investments | (0.62) | 0.85 | 3.19 | (2.22) | 0.16 |
Total from investment operations | (0.34) | 1.12 | 3.44 | (1.90) | 0.49 |
Less distributions | |||||
From net investment income | (0.32) | (0.26) | (0.27) | (0.32) | (0.33) |
From net realized gain | (0.61) | (0.98) | — | (0.20) | (0.27) |
Total distributions | (0.93) | (1.24) | (0.27) | (0.52) | (0.60) |
Net asset value, end of period | $10.44 | $11.71 | $11.83 | $8.66 | $11.08 |
Total return (%)2 | (2.53) | 9.82 | 40.19 | (18.10) | 4.68 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1 | $1 | $1 | $1 | $1 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.34 | 1.34 | 1.35 | 1.34 | 1.36 |
Expenses including reductions | 1.21 | 1.21 | 1.23 | 1.22 | 1.22 |
Net investment income | 2.62 | 2.20 | 2.45 | 2.86 | 3.02 |
Portfolio turnover (%) | 28 | 24 | 30 | 33 | 16 |
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 Global Shareholder Yield Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R6 SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $11.67 | $11.79 | $8.64 | $11.06 | $11.16 |
Net investment income1 | 0.33 | 0.32 | 0.30 | 0.37 | 0.39 |
Net realized and unrealized gain (loss) on investments | (0.63) | 0.86 | 3.17 | (2.22) | 0.17 |
Total from investment operations | (0.30) | 1.18 | 3.47 | (1.85) | 0.56 |
Less distributions | |||||
From net investment income | (0.37) | (0.32) | (0.32) | (0.37) | (0.39) |
From net realized gain | (0.61) | (0.98) | — | (0.20) | (0.27) |
Total distributions | (0.98) | (1.30) | (0.32) | (0.57) | (0.66) |
Net asset value, end of period | $10.39 | $11.67 | $11.79 | $8.64 | $11.06 |
Total return (%)2 | (2.12) | 10.40 | 40.72 | (17.69) | 5.31 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $279 | $278 | $275 | $245 | $351 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.88 | 0.88 | 0.88 | 0.88 | 0.88 |
Expenses including reductions | 0.74 | 0.74 | 0.74 | 0.74 | 0.74 |
Net investment income | 3.06 | 2.68 | 2.94 | 3.34 | 3.57 |
Portfolio turnover (%) | 28 | 24 | 30 | 33 | 16 |
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 Global Shareholder Yield Fund | 21 |
CLASS NAV SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $11.68 | $11.80 | $8.64 | $11.06 | $11.17 |
Net investment income1 | 0.33 | 0.32 | 0.29 | 0.37 | 0.39 |
Net realized and unrealized gain (loss) on investments | (0.63) | 0.86 | 3.19 | (2.22) | 0.16 |
Total from investment operations | (0.30) | 1.18 | 3.48 | (1.85) | 0.55 |
Less distributions | |||||
From net investment income | (0.37) | (0.32) | (0.32) | (0.37) | (0.39) |
From net realized gain | (0.61) | (0.98) | — | (0.20) | (0.27) |
Total distributions | (0.98) | (1.30) | (0.32) | (0.57) | (0.66) |
Net asset value, end of period | $10.40 | $11.68 | $11.80 | $8.64 | $11.06 |
Total return (%)2 | (2.12) | 10.40 | 40.83 | (17.77) | 5.30 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $89 | $109 | $120 | $325 | $458 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.88 | 0.87 | 0.87 | 0.87 | 0.87 |
Expenses including reductions | 0.74 | 0.74 | 0.74 | 0.74 | 0.74 |
Net investment income | 3.10 | 2.68 | 2.87 | 3.32 | 3.54 |
Portfolio turnover (%) | 28 | 24 | 30 | 33 | 16 |
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 Global Shareholder Yield Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 23 |
Total value at 3-31-23 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Austria | $10,411,354 | — | $10,411,354 | — |
Canada | 87,750,326 | $87,750,326 | — | — |
France | 88,266,893 | — | 88,266,893 | — |
Germany | 95,568,803 | — | 95,568,803 | — |
Hong Kong | 9,620,508 | — | 9,620,508 | — |
Ireland | 10,876,283 | 10,876,283 | — | — |
Italy | 15,816,386 | — | 15,816,386 | — |
Japan | 14,795,080 | — | 14,795,080 | — |
Norway | 9,855,890 | — | 9,855,890 | — |
South Korea | 17,093,784 | — | 17,093,784 | — |
Switzerland | 31,790,510 | — | 31,790,510 | — |
Taiwan | 12,820,575 | 12,820,575 | — | — |
United Kingdom | 111,923,465 | 37,230,847 | 74,692,618 | — |
United States | 690,152,203 | 690,152,203 | — | — |
Total investments in securities | $1,206,742,060 | $838,830,234 | $367,911,826 | — |
24 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 25 |
March 31, 2023 | March 31, 2022 | |
Ordinary income | $36,225,479 | $30,395,868 |
Long-term capital gains | 55,231,911 | 85,278,775 |
Total | $91,457,390 | $115,674,643 |
26 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 27 |
Class | Expense reduction |
Class A | $604,780 |
Class C | 22,842 |
Class I | 552,685 |
Class R2 | 727 |
Class | Expense reduction |
Class R6 | $388,577 |
Class NAV | 125,826 |
Total | $1,695,437 |
Class | Rule 12b-1 Fee | Service fee |
Class A | 0.30% | — |
Class C | 1.00% | — |
Class R2 | 0.25% | 0.25% |
28 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT |
Class | Distribution and service fees | Transfer agent fees |
Class A | $906,929 | $348,286 |
Class C | 153,179 | 17,687 |
Class I | — | 422,641 |
Class R2 | 2,460 | 51 |
Class R6 | — | 25,506 |
Total | $1,062,568 | $814,171 |
Year Ended 3-31-23 | Year Ended 3-31-22 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 3,470,282 | $36,688,345 | 3,015,150 | $36,401,031 |
Distributions reinvested | 2,545,708 | 25,556,010 | 2,824,661 | 32,215,794 |
Repurchased | (4,730,402) | (49,829,402) | (4,770,589) | (57,329,434) |
Net increase | 1,285,588 | $12,414,953 | 1,069,222 | $11,287,391 |
Class C shares | ||||
Sold | 80,695 | $849,880 | 83,473 | $1,015,839 |
Distributions reinvested | 111,092 | 1,120,930 | 189,547 | 2,166,335 |
Repurchased | (755,258) | (8,033,701) | (997,554) | (12,084,573) |
Net decrease | (563,471) | $(6,062,891) | (724,534) | $(8,902,399) |
Class I shares | ||||
Sold | 25,652,990 | $272,709,674 | 3,698,341 | $44,567,858 |
Distributions reinvested | 3,090,857 | 31,175,952 | 3,406,422 | 39,064,398 |
Repurchased | (8,206,293) | (86,522,837) | (8,399,789) | (101,694,539) |
Net increase (decrease) | 20,537,554 | $217,362,789 | (1,295,026) | $(18,062,283) |
ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 29 |
Year Ended 3-31-23 | Year Ended 3-31-22 | |||
Shares | Amount | Shares | Amount | |
Class R2 shares | ||||
Sold | 7,705 | $81,962 | 3,669 | $44,542 |
Distributions reinvested | 4,347 | 43,946 | 5,730 | 65,704 |
Repurchased | (8,278) | (88,155) | (12,195) | (145,153) |
Net increase (decrease) | 3,774 | $37,753 | (2,796) | $(34,907) |
Class R6 shares | ||||
Sold | 6,182,810 | $65,485,670 | 3,409,256 | $41,045,942 |
Distributions reinvested | 2,427,933 | 24,438,490 | 2,515,129 | 28,795,195 |
Repurchased | (5,556,061) | (58,880,852) | (5,386,820) | (64,974,727) |
Net increase | 3,054,682 | $31,043,308 | 537,565 | $4,866,410 |
Class NAV shares | ||||
Sold | 111,306 | $1,114,757 | 204,103 | $2,488,455 |
Distributions reinvested | 811,065 | 8,174,701 | 1,051,033 | 12,045,777 |
Repurchased | (1,726,184) | (18,900,531) | (2,055,384) | (24,834,704) |
Net decrease | (803,813) | $(9,611,073) | (800,248) | $(10,300,472) |
Total net increase (decrease) | 23,514,314 | $245,184,839 | (1,215,817) | $(21,146,260) |
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* | — | $7,071,602 | $203,874,340 | $(210,925,433) | $(19,925) | $(584) | $229,347 | — | — |
30 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 31 |
32 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 33 |
• | 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; |
34 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
• | The Fund did not experience any breaches of the 15% limit on illiquid investments, or any applicable HLIM, that would require reporting to the Securities and Exchange Commission; |
• | The Fund continued to qualify as a Primarily Highly Liquid Fund under the Liquidity Rule and therefore is not required to establish a HLIM; and |
• | The Chief Compliance Officer’s office, 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 | 35 |
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 | 186 |
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 | 183 |
Trustee | ||
Board Member, United of Omaha Life Insurance Company (since 2022). Board Member, Mutual of Omaha Investor Services, Inc. (since 2022). Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). 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). | ||
William H. Cunningham,2 Born: 1944 | 2006 | 184 |
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; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | ||
Noni L. Ellison,* Born: 1971 | 2022 | 183 |
Trustee | ||
Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children’s Healthcare of Atlanta Foundation Board (2021–present). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | ||
Grace K. Fey, Born: 1946 | 2012 | 186 |
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). | ||
Dean C. Garfield,* Born: 1968 | 2022 | 183 |
Trustee | ||
Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |
36 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
Independent Trustees (continued) | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Deborah C. Jackson, Born: 1952 | 2008 | 185 |
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); 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 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). | ||
Patricia Lizarraga,2,* Born: 1966 | 2022 | 183 |
Trustee | ||
Founder, Chief Executive Officer, Hypatia Capital Group (advisory and asset management company) (since 2007); Independent Director, Audit Committee Chair, and Risk Committee Member, Credicorp, Ltd. (since 2017); Independent Director, Audit Committee Chair, Banco De Credito Del Peru (since 2017); Trustee, Museum of Art of Lima (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | ||
Steven R. Pruchansky, Born: 1944 | 2006 | 183 |
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 | 183 |
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 and Audit Committee Chair, 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 | 183 |
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); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 37 |
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 | 184 |
President and Non-Independent Trustee | ||
Global Head of Retail for Manulife (since 2022); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | ||
Marianne Harrison,^ Born: 1963 | 2018 | 183 |
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 and since 2017). Trustee of various trusts within the John Hancock Fund Complex (since 2018). | ||
Paul Lorentz,† Born: 1968 | 2022 | 183 |
Non-Independent Trustee | ||
Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |
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). |
38 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
Principal officers who are not Trustees (continued) | |
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years | Current Position(s) with the Trust since |
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). |
1 | Each Trustee holds office until his or her successor is duly 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. |
* | Elected to serve as Independent Trustee effective as of September 9, 2022. |
^ | Ms. Harrison is retiring effective May 1, 2023. |
† | Elected to serve as Non-Independent Trustee effective as of September 9, 2022. |
ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 39 |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
William H. Cunningham*
Grace K. Fey
Noni L. Ellison^
Dean C. Garfield^
Marianne Harrison†,#
Deborah C. Jackson
Patricia Lizarraga*,^
Paul Lorentz‡
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 |
40 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
GOVERNANCE FUNDS
with a heritage of financial stewardship dating back to 1862. Helping
our shareholders pursue their financial goals is at the core of everything
we do. It’s why we support the role of professional financial advice
and operate with the highest standards of conduct and integrity.
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
a diverse set of investments backed by some of the world’s best
managers, along with strong risk-adjusted returns across asset classes.
200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
MF2833359 | 320A 3/23 |
Manulife Investment Management
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 1 |
2 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 3 |
TOP 10 HOLDINGS AS OF 3/31/2023 (% of total investments) | |
Taiwan Semiconductor Manufacturing Company, Ltd. | 5.1 |
Tencent Holdings, Ltd. | 3.8 |
AstraZeneca PLC | 3.2 |
Airbus SE | 2.6 |
Advantest Corp. | 2.2 |
Industria de Diseno Textil SA | 2.0 |
Vinci SA | 2.0 |
ZTO Express Cayman, Inc., ADR | 2.0 |
Tokyo Electron, Ltd. | 2.0 |
London Stock Exchange Group PLC | 2.0 |
TOTAL | 26.9 |
Cash and cash equivalents are not included. |
TOP 10 COUNTRIES AS OF 3/31/2023 (% of total investments) | |
China | 17.4 |
France | 15.5 |
United Kingdom | 13.8 |
Japan | 8.1 |
Taiwan | 5.1 |
Germany | 4.6 |
Ireland | 4.2 |
Denmark | 2.9 |
Canada | 2.9 |
Hong Kong | 2.8 |
TOTAL | 77.3 |
Cash and cash equivalents are not included. |
4 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 5 |
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | ||||
1-year | 5-year | 10-year | 5-year | 10-year | |
Class A | -13.85 | 1.52 | 5.95 | 7.85 | 78.30 |
Class C | -10.74 | 1.85 | 5.74 | 9.59 | 74.80 |
Class I1 | -9.04 | 2.87 | 6.83 | 15.18 | 93.68 |
Class R21,2 | -9.41 | 2.47 | 6.41 | 12.95 | 86.17 |
Class R41,2 | -9.18 | 2.74 | 6.63 | 14.45 | 90.03 |
Class R61,2 | -8.96 | 2.98 | 6.86 | 15.81 | 94.09 |
Class 11 | -9.01 | 2.94 | 6.91 | 15.60 | 95.02 |
Class NAV1,2 | -8.94 | 3.00 | 6.85 | 15.92 | 93.93 |
Index 1† | -6.35 | 3.36 | 5.08 | 17.96 | 64.19 |
Index 2† | -1.38 | 3.52 | 5.00 | 18.91 | 62.85 |
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 | 0.87 | 0.91 | 0.86 |
6 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
Start date | With maximum sales charge ($) | Without sales charge ($) | Index 1 ($) | Index 2 ($) | |
Class C3 | 3-31-13 | 17,480 | 17,480 | 16,419 | 16,285 |
Class I1 | 3-31-13 | 19,368 | 19,368 | 16,419 | 16,285 |
Class R21,2 | 3-31-13 | 18,617 | 18,617 | 16,419 | 16,285 |
Class R41,2 | 3-31-13 | 19,003 | 19,003 | 16,419 | 16,285 |
Class R61,2 | 3-31-13 | 19,409 | 19,409 | 16,419 | 16,285 |
Class 11 | 3-31-13 | 19,502 | 19,502 | 16,419 | 16,285 |
Class NAV1,2 | 3-31-13 | 19,393 | 19,393 | 16,419 | 16,285 |
1 | For certain types of investors, as described in the fund’s prospectuses. |
2 | Class R2, Class R4, and Class R6 shares were first offered on 3-27-15. Class NAV shares were first offered on 6-2-15. The returns prior to these dates are those of Class A shares that have not been adjusted for class-specific expenses; otherwise, returns would vary. |
3 | The contingent deferred sales charge is not applicable. |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 7 |
8 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
Account value on 10-1-2022 | Ending value on 3-31-2023 | Expenses paid during period ended 3-31-20231 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,202.40 | $7.14 | 1.30% |
Hypothetical example | 1,000.00 | 1,018.40 | 6.54 | 1.30% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,197.90 | 10.96 | 2.00% |
Hypothetical example | 1,000.00 | 1,015.00 | 10.05 | 2.00% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,204.20 | 5.50 | 1.00% |
Hypothetical example | 1,000.00 | 1,019.90 | 5.04 | 1.00% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 1,202.00 | 7.63 | 1.39% |
Hypothetical example | 1,000.00 | 1,018.00 | 6.99 | 1.39% | |
Class R4 | Actual expenses/actual returns | 1,000.00 | 1,204.00 | 5.99 | 1.09% |
Hypothetical example | 1,000.00 | 1,019.50 | 5.49 | 1.09% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,205.20 | 4.89 | 0.89% |
Hypothetical example | 1,000.00 | 1,020.50 | 4.48 | 0.89% | |
Class 1 | Actual expenses/actual returns | 1,000.00 | 1,204.70 | 5.11 | 0.93% |
Hypothetical example | 1,000.00 | 1,020.30 | 4.68 | 0.93% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 1,205.10 | 4.84 | 0.88% |
Hypothetical example | 1,000.00 | 1,020.50 | 4.43 | 0.88% |
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 106.6% | $7,421,254,725 | ||||
(Cost $6,546,065,132) | |||||
Australia 2.0% | 138,309,083 | ||||
Aristocrat Leisure, Ltd. | 5,531,815 | 138,309,083 | |||
Belgium 2.5% | 175,942,848 | ||||
KBC Group NV | 1,233,542 | 84,757,982 | |||
UCB SA | 1,020,232 | 91,184,866 | |||
Canada 3.2% | 225,401,376 | ||||
ARC Resources, Ltd. (A) | 6,555,662 | 74,360,561 | |||
Brookfield Asset Management, Ltd., Class A | 1 | 25 | |||
Constellation Software, Inc. | 80,338 | 151,040,790 | |||
China 19.4% | 1,350,999,570 | ||||
ANTA Sports Products, Ltd. | 7,790,629 | 113,113,058 | |||
China Pacific Insurance Group Company, Ltd., Class A | 20,254,800 | 76,429,301 | |||
ENN Energy Holdings, Ltd. | 9,583,899 | 131,232,114 | |||
Focus Media Information Technology Company, Ltd., Class A | 127,081,802 | 126,941,543 | |||
H World Group, Ltd., ADR (B) | 3,161,852 | 154,867,511 | |||
Li Ning Company, Ltd. | 16,011,696 | 125,914,613 | |||
Ping An Insurance Group Company of China, Ltd., H Shares | 10,505,000 | 67,959,088 | |||
Tencent Holdings, Ltd. | 6,060,457 | 296,170,435 | |||
Trip.com Group, Ltd., ADR (B) | 2,682,433 | 101,047,251 | |||
ZTO Express Cayman, Inc., ADR | 5,489,346 | 157,324,656 | |||
Denmark 3.2% | 224,796,425 | ||||
DSV A/S | 502,974 | 97,525,440 | |||
Genmab A/S (B) | 336,691 | 127,270,985 | |||
France 17.3% | 1,203,850,591 | ||||
Airbus SE | 1,525,705 | 203,785,508 | |||
AXA SA | 3,491,979 | 106,567,212 | |||
Capgemini SE | 656,159 | 121,938,176 | |||
Edenred | 2,080,306 | 123,122,941 | |||
Publicis Groupe SA | 1,690,460 | 131,957,523 | |||
Safran SA | 997,700 | 147,696,814 | |||
Thales SA | 662,543 | 97,955,311 | |||
Vinci SA | 1,377,802 | 157,955,248 | |||
Worldline SA (B)(C) | 2,655,889 | 112,871,858 | |||
Germany 5.1% | 354,053,272 | ||||
Brenntag SE | 1,065,688 | 80,199,998 | |||
Rheinmetall AG | 511,104 | 151,415,383 | |||
Siemens AG | 755,768 | 122,437,891 |
10 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Hong Kong 3.1% | $214,214,031 | ||||
CK Asset Holdings, Ltd. | 18,230,000 | 110,522,516 | |||
Melco Resorts & Entertainment, Ltd., ADR (B) | 8,145,445 | 103,691,515 | |||
India 2.2% | 154,765,305 | ||||
Bharti Airtel, Ltd. | 12,344,575 | 112,801,865 | |||
Bharti Airtel, Ltd., Partly Paid Up Shares | 801,744 | 3,581,181 | |||
Hindustan Aeronautics, Ltd. | 1,150,932 | 38,382,259 | |||
Ireland 4.7% | 323,411,014 | ||||
Accenture PLC, Class A | 307,693 | 87,941,736 | |||
AerCap Holdings NV (B) | 1,785,090 | 100,375,611 | |||
Flutter Entertainment PLC (London Stock Exchange) (B) | 748,685 | 135,093,667 | |||
Italy 2.6% | 180,137,145 | ||||
FinecoBank Banca Fineco SpA | 4,811,344 | 73,715,428 | |||
Moncler SpA | 1,540,740 | 106,421,717 | |||
Japan 9.0% | 627,795,198 | ||||
Advantest Corp. (A) | 1,811,200 | 167,909,686 | |||
Astellas Pharma, Inc. | 5,602,200 | 79,592,243 | |||
Isuzu Motors, Ltd. | 10,788,590 | 128,934,317 | |||
Mitsubishi UFJ Financial Group, Inc. | 14,899,700 | 95,487,240 | |||
Tokyo Electron, Ltd. | 1,275,900 | 155,871,712 | |||
Netherlands 1.2% | 84,613,031 | ||||
NXP Semiconductors NV | 453,750 | 84,613,031 | |||
Portugal 2.2% | 151,348,197 | ||||
Jeronimo Martins SGPS SA | 6,447,770 | 151,348,197 | |||
Spain 2.3% | 158,166,763 | ||||
Industria de Diseno Textil SA (A) | 4,707,994 | 158,166,763 | |||
Sweden 1.5% | 104,846,796 | ||||
Volvo AB, B Shares (A) | 5,088,007 | 104,846,796 | |||
Switzerland 2.7% | 184,556,859 | ||||
Glencore PLC | 18,440,059 | 106,107,560 | |||
Novartis AG | 854,395 | 78,449,299 | |||
Taiwan 5.6% | 392,662,071 | ||||
Taiwan Semiconductor Manufacturing Company, Ltd. | 22,406,308 | 392,662,071 | |||
United Kingdom 15.3% | 1,067,792,055 | ||||
Allfunds Group PLC | 10,120,140 | 67,066,564 | |||
Anglo American PLC | 3,192,855 | 106,198,611 | |||
AstraZeneca PLC | 1,777,882 | 246,331,928 | |||
BAE Systems PLC | 6,943,455 | 83,988,533 | |||
British American Tobacco PLC | 3,346,452 | 117,307,290 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 11 |
Shares | Value | ||||
United Kingdom (continued) | |||||
CNH Industrial NV | 6,410,383 | $98,086,805 | |||
InterContinental Hotels Group PLC | 146,952 | 9,620,262 | |||
London Stock Exchange Group PLC | 1,601,273 | 155,530,381 | |||
Standard Chartered PLC | 13,714,189 | 103,940,205 | |||
WPP PLC | 6,710,079 | 79,721,476 | |||
United States 1.5% | 103,593,095 | ||||
Schlumberger, Ltd. | 2,109,839 | 103,593,095 | |||
Yield (%) | Shares | Value | |||
Short-term investments 4.6% | $320,889,403 | ||||
(Cost $320,910,974) | |||||
Short-term funds 2.9% | 201,889,403 | ||||
John Hancock Collateral Trust (D) | 4.9438(E) | 20,195,201 | 201,889,403 |
Par value^ | Value | ||||
Repurchase agreement 1.7% | 119,000,000 | ||||
Bank of America Corp. Tri-Party Repurchase Agreement dated 3-31-23 at 4.810% to be repurchased at $55,922,407 on 4-3-23, collateralized by $62,178,400 U.S. Treasury Notes, 0.250% due 7-31-25 (valued at $57,018,057) | 55,900,000 | 55,900,000 | |||
Societe Generale SA Tri-Party Repurchase Agreement dated 3-31-23 at 4.800% to be repurchased at $63,125,240 on 4-3-23, collateralized by $64,146,234 Government National Mortgage Association, 5.000% due 12-20-52 (valued at $64,362,000) | 63,100,000 | 63,100,000 |
Total investments (Cost $6,866,976,106) 111.2% | $7,742,144,128 | ||||
Other assets and liabilities, net (11.2%) | (778,019,439) | ||||
Total net assets 100.0% | $6,964,124,689 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
^All par values are denominated in U.S. dollars unless otherwise indicated. | |
Security Abbreviations and Legend | |
ADR | American Depositary Receipt |
(A) | All or a portion of this security is on loan as of 3-31-23. |
(B) | Non-income producing security. |
(C) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
(D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |
(E) | The rate shown is the annualized seven-day yield as of 3-31-23. |
12 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Assets | |
Unaffiliated investments, at value (Cost $6,665,065,132) including $191,834,057 of securities loaned | $7,540,254,725 |
Affiliated investments, at value (Cost $201,910,974) | 201,889,403 |
Total investments, at value (Cost $6,866,976,106) | 7,742,144,128 |
Foreign currency, at value (Cost $898,746) | 898,858 |
Dividends and interest receivable | 47,007,963 |
Receivable for fund shares sold | 11,191,022 |
Receivable for investments sold | 48,869,150 |
Receivable for securities lending income | 78,176 |
Other assets | 1,008,926 |
Total assets | 7,851,198,223 |
Liabilities | |
Due to custodian | 11,879,208 |
Foreign capital gains tax payable | 1,112,806 |
Payable for investments purchased | 57,002,714 |
Payable for fund shares repurchased | 613,184,700 |
Payable upon return of securities loaned | 201,928,232 |
Payable to affiliates | |
Accounting and legal services fees | 269,910 |
Transfer agent fees | 448,947 |
Distribution and service fees | 8,151 |
Trustees’ fees | 1,591 |
Other liabilities and accrued expenses | 1,237,275 |
Total liabilities | 887,073,534 |
Net assets | $6,964,124,689 |
Net assets consist of | |
Paid-in capital | $7,518,514,732 |
Total distributable earnings (loss) | (554,390,043) |
Net assets | $6,964,124,689 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 13 |
Net asset value per share | |
Based on net asset value and shares outstanding - the fund has an unlimited number of shares authorized with no par value | |
Class A ($502,041,009 ÷ 21,023,053 shares)1 | $23.88 |
Class C ($95,724,358 ÷ 4,212,275 shares)1 | $22.73 |
Class I ($3,587,361,235 ÷ 149,138,838 shares) | $24.05 |
Class R2 ($35,549,097 ÷ 1,489,516 shares) | $23.87 |
Class R4 ($9,626,834 ÷ 401,095 shares) | $24.00 |
Class R6 ($1,908,060,290 ÷ 79,131,354 shares) | $24.11 |
Class 1 ($57,670,727 ÷ 2,397,366 shares) | $24.06 |
Class NAV ($768,091,139 ÷ 31,911,382 shares) | $24.07 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $25.14 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
14 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Investment income | |
Dividends | $220,394,816 |
Interest | 1,281,584 |
Securities lending | 728,160 |
Less foreign taxes withheld | (21,993,155) |
Total investment income | 200,411,405 |
Expenses | |
Investment management fees | 69,927,965 |
Distribution and service fees | 3,013,604 |
Accounting and legal services fees | 1,292,392 |
Transfer agent fees | 6,955,872 |
Trustees’ fees | 191,266 |
Custodian fees | 3,328,053 |
State registration fees | 271,304 |
Printing and postage | 526,051 |
Professional fees | 403,084 |
Other | 575,975 |
Total expenses | 86,485,566 |
Less expense reductions | (651,515) |
Net expenses | 85,834,051 |
Net investment income | 114,577,354 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | (1,031,927,206)1 |
Affiliated investments | (103,157) |
(1,032,030,363) | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | (302,715,102)2 |
Affiliated investments | (21,571) |
(302,736,673) | |
Net realized and unrealized loss | (1,334,767,036) |
Decrease in net assets from operations | $(1,220,189,682) |
1 | Net of foreign taxes of $15,454,774. |
2 | Net of $7,234,038 decrease in deferred foreign withholding taxes. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 15 |
Year ended 3-31-23 | Year ended 3-31-22 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $114,577,354 | $88,490,459 |
Net realized gain (loss) | (1,032,030,363) | 1,456,088,023 |
Change in net unrealized appreciation (depreciation) | (302,736,673) | (2,602,084,283) |
Decrease in net assets resulting from operations | (1,220,189,682) | (1,057,505,801) |
Distributions to shareholders | ||
From earnings | ||
Class A | (58,671,285) | (98,141,315) |
Class C | (13,274,712) | (27,915,106) |
Class I | (504,628,457) | (1,189,339,940) |
Class R2 | (4,084,956) | (6,056,297) |
Class R4 | (826,906) | (6,621,487) |
Class R6 | (222,850,526) | (365,182,359) |
Class 1 | (6,694,331) | (11,223,078) |
Class NAV | (90,713,513) | (132,920,326) |
Total distributions | (901,744,686) | (1,837,399,908) |
From fund share transactions | (2,434,699,952) | 1,666,677,236 |
Total decrease | (4,556,634,320) | (1,228,228,473) |
Net assets | ||
Beginning of year | 11,520,759,009 | 12,748,987,482 |
End of year | $6,964,124,689 | $11,520,759,009 |
16 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS A SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $29.99 | $37.88 | $24.58 | $26.79 | $28.52 |
Net investment income (loss)1 | 0.25 | 0.14 | (0.04) | 0.13 | 0.19 |
Net realized and unrealized gain (loss) on investments | (3.29) | (2.80) | 13.34 | (2.22) | (1.31) |
Total from investment operations | (3.04) | (2.66) | 13.30 | (2.09) | (1.12) |
Less distributions | |||||
From net investment income | — | (0.17) | — | (0.12) | (0.15) |
From net realized gain | (3.07) | (5.06) | — | — | (0.46) |
Total distributions | (3.07) | (5.23) | — | (0.12) | (0.61) |
Net asset value, end of period | $23.88 | $29.99 | $37.88 | $24.58 | $26.79 |
Total return (%)2,3 | (9.31) | (8.46) | 54.11 | (7.87) | (3.69) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $502 | $642 | $670 | $456 | $609 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.30 | 1.29 | 1.29 | 1.30 | 1.28 |
Expenses including reductions | 1.29 | 1.28 | 1.28 | 1.29 | 1.28 |
Net investment income (loss) | 0.99 | 0.37 | (0.14) | 0.45 | 0.72 |
Portfolio turnover (%) | 77 | 78 | 78 | 80 | 98 |
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 International Growth Fund | 17 |
CLASS C SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $28.91 | $36.78 | $24.03 | $26.27 | $28.00 |
Net investment income (loss)1 | 0.09 | (0.12) | (0.26) | (0.06) | —2 |
Net realized and unrealized gain (loss) on investments | (3.20) | (2.69) | 13.01 | (2.18) | (1.27) |
Total from investment operations | (3.11) | (2.81) | 12.75 | (2.24) | (1.27) |
Less distributions | |||||
From net realized gain | (3.07) | (5.06) | — | — | (0.46) |
Net asset value, end of period | $22.73 | $28.91 | $36.78 | $24.03 | $26.27 |
Total return (%)3,4 | (9.96) | (9.10) | 53.06 | (8.53) | (4.37) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $96 | $171 | $224 | $181 | $263 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 2.00 | 1.99 | 1.99 | 2.00 | 1.98 |
Expenses including reductions | 1.99 | 1.98 | 1.98 | 1.99 | 1.98 |
Net investment income (loss) | 0.36 | (0.32) | (0.81) | (0.24) | (0.01) |
Portfolio turnover (%) | 77 | 78 | 78 | 80 | 98 |
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. |
18 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS I SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $30.09 | $38.00 | $24.63 | $26.84 | $28.59 |
Net investment income1 | 0.35 | 0.25 | 0.05 | 0.21 | 0.24 |
Net realized and unrealized gain (loss) on investments | (3.32) | (2.81) | 13.40 | (2.22) | (1.30) |
Total from investment operations | (2.97) | (2.56) | 13.45 | (2.01) | (1.06) |
Less distributions | |||||
From net investment income | — | (0.29) | (0.08) | (0.20) | (0.23) |
From net realized gain | (3.07) | (5.06) | — | — | (0.46) |
Total distributions | (3.07) | (5.35) | (0.08) | (0.20) | (0.69) |
Net asset value, end of period | $24.05 | $30.09 | $38.00 | $24.63 | $26.84 |
Total return (%)2 | (9.04) | (8.19) | 54.62 | (7.61) | (3.45) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $3,587 | $7,376 | $8,176 | $4,677 | $5,576 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.00 | 0.99 | 0.99 | 1.00 | 1.00 |
Expenses including reductions | 0.99 | 0.98 | 0.98 | 0.99 | 0.99 |
Net investment income | 1.37 | 0.66 | 0.14 | 0.74 | 0.89 |
Portfolio turnover (%) | 77 | 78 | 78 | 80 | 98 |
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 International Growth Fund | 19 |
CLASS R2 SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $30.00 | $37.89 | $24.60 | $26.82 | $28.55 |
Net investment income (loss)1 | 0.21 | 0.11 | (0.08) | 0.12 | 0.15 |
Net realized and unrealized gain (loss) on investments | (3.27) | (2.81) | 13.37 | (2.25) | (1.30) |
Total from investment operations | (3.06) | (2.70) | 13.29 | (2.13) | (1.15) |
Less distributions | |||||
From net investment income | — | (0.13) | — | (0.09) | (0.12) |
From net realized gain | (3.07) | (5.06) | — | — | (0.46) |
Total distributions | (3.07) | (5.19) | — | (0.09) | (0.58) |
Net asset value, end of period | $23.87 | $30.00 | $37.89 | $24.60 | $26.82 |
Total return (%)2 | (9.41) | (8.55) | 54.02 | (7.98) | (3.81) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $36 | $38 | $50 | $30 | $43 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.39 | 1.38 | 1.38 | 1.39 | 1.38 |
Expenses including reductions | 1.38 | 1.37 | 1.37 | 1.38 | 1.37 |
Net investment income (loss) | 0.85 | 0.29 | (0.23) | 0.41 | 0.54 |
Portfolio turnover (%) | 77 | 78 | 78 | 80 | 98 |
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 International Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R4 SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $30.08 | $37.98 | $24.62 | $26.84 | $28.57 |
Net investment income (loss)1 | 0.43 | 0.20 | (0.05) | 0.16 | 0.22 |
Net realized and unrealized gain (loss) on investments | (3.44) | (2.81) | 13.46 | (2.22) | (1.30) |
Total from investment operations | (3.01) | (2.61) | 13.41 | (2.06) | (1.08) |
Less distributions | |||||
From net investment income | — | (0.23) | (0.05) | (0.16) | (0.19) |
From net realized gain | (3.07) | (5.06) | — | — | (0.46) |
Total distributions | (3.07) | (5.29) | (0.05) | (0.16) | (0.65) |
Net asset value, end of period | $24.00 | $30.08 | $37.98 | $24.62 | $26.84 |
Total return (%)2 | (9.18) | (8.31) | 54.46 | (7.77) | (3.53) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $10 | $45 | $49 | $7 | $8 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.23 | 1.22 | 1.21 | 1.24 | 1.24 |
Expenses including reductions | 1.12 | 1.11 | 1.10 | 1.13 | 1.13 |
Net investment income (loss) | 1.61 | 0.54 | (0.13) | 0.58 | 0.80 |
Portfolio turnover (%) | 77 | 78 | 78 | 80 | 98 |
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 International Growth Fund | 21 |
CLASS R6 SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $30.13 | $38.04 | $24.65 | $26.86 | $28.61 |
Net investment income1 | 0.34 | 0.29 | 0.08 | 0.24 | 0.27 |
Net realized and unrealized gain (loss) on investments | (3.29) | (2.81) | 13.42 | (2.22) | (1.30) |
Total from investment operations | (2.95) | (2.52) | 13.50 | (1.98) | (1.03) |
Less distributions | |||||
From net investment income | — | (0.33) | (0.11) | (0.23) | (0.26) |
From net realized gain | (3.07) | (5.06) | — | — | (0.46) |
Total distributions | (3.07) | (5.39) | (0.11) | (0.23) | (0.72) |
Net asset value, end of period | $24.11 | $30.13 | $38.04 | $24.65 | $26.86 |
Total return (%)2 | (8.96) | (8.09) | 54.79 | (7.52) | (3.32) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1,908 | $2,333 | $2,441 | $1,434 | $1,836 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.89 | 0.88 | 0.88 | 0.89 | 0.89 |
Expenses including reductions | 0.89 | 0.87 | 0.88 | 0.88 | 0.88 |
Net investment income | 1.37 | 0.78 | 0.25 | 0.85 | 1.01 |
Portfolio turnover (%) | 77 | 78 | 78 | 80 | 98 |
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 International Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS 1 SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $30.08 | $37.98 | $24.62 | $26.83 | $28.57 |
Net investment income1 | 0.34 | 0.28 | 0.08 | 0.23 | 0.28 |
Net realized and unrealized gain (loss) on investments | (3.29) | (2.80) | 13.38 | (2.22) | (1.30) |
Total from investment operations | (2.95) | (2.52) | 13.46 | (1.99) | (1.02) |
Less distributions | |||||
From net investment income | — | (0.32) | (0.10) | (0.22) | (0.26) |
From net realized gain | (3.07) | (5.06) | — | — | (0.46) |
Total distributions | (3.07) | (5.38) | (0.10) | (0.22) | (0.72) |
Net asset value, end of period | $24.06 | $30.08 | $37.98 | $24.62 | $26.83 |
Total return (%)2 | (9.01) | (8.10) | 54.68 | (7.55) | (3.32) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $58 | $71 | $83 | $59 | $78 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.93 | 0.92 | 0.92 | 0.93 | 0.92 |
Expenses including reductions | 0.93 | 0.91 | 0.91 | 0.92 | 0.92 |
Net investment income | 1.34 | 0.74 | 0.23 | 0.82 | 1.05 |
Portfolio turnover (%) | 77 | 78 | 78 | 80 | 98 |
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 International Growth Fund | 23 |
CLASS NAV SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $30.08 | $37.99 | $24.62 | $26.82 | $28.57 |
Net investment income1 | 0.34 | 0.30 | 0.10 | 0.24 | 0.29 |
Net realized and unrealized gain (loss) on investments | (3.28) | (2.81) | 13.38 | (2.21) | (1.31) |
Total from investment operations | (2.94) | (2.51) | 13.48 | (1.97) | (1.02) |
Less distributions | |||||
From net investment income | — | (0.34) | (0.11) | (0.23) | (0.27) |
From net realized gain | (3.07) | (5.06) | — | — | (0.46) |
Total distributions | (3.07) | (5.40) | (0.11) | (0.23) | (0.73) |
Net asset value, end of period | $24.07 | $30.08 | $37.99 | $24.62 | $26.82 |
Total return (%)2 | (8.94) | (8.08) | 54.78 | (7.51) | (3.27) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $768 | $844 | $1,057 | $854 | $1,028 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.88 | 0.87 | 0.87 | 0.88 | 0.87 |
Expenses including reductions | 0.88 | 0.86 | 0.86 | 0.87 | 0.87 |
Net investment income | 1.34 | 0.80 | 0.30 | 0.87 | 1.06 |
Portfolio turnover (%) | 77 | 78 | 78 | 80 | 98 |
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 International Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 25 |
Total value at 3-31-23 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Australia | $138,309,083 | — | $138,309,083 | — |
Belgium | 175,942,848 | — | 175,942,848 | — |
Canada | 225,401,376 | $225,401,376 | — | — |
China | 1,350,999,570 | 413,239,418 | 937,760,152 | — |
Denmark | 224,796,425 | — | 224,796,425 | — |
France | 1,203,850,591 | — | 1,203,850,591 | — |
Germany | 354,053,272 | — | 354,053,272 | — |
Hong Kong | 214,214,031 | 103,691,515 | 110,522,516 | — |
India | 154,765,305 | — | 154,765,305 | — |
Ireland | 323,411,014 | 188,317,347 | 135,093,667 | — |
Italy | 180,137,145 | — | 180,137,145 | — |
Japan | 627,795,198 | — | 627,795,198 | — |
Netherlands | 84,613,031 | 84,613,031 | — | — |
Portugal | 151,348,197 | — | 151,348,197 | — |
Spain | 158,166,763 | — | 158,166,763 | — |
26 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT |
Total value at 3-31-23 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Sweden | $104,846,796 | — | $104,846,796 | — |
Switzerland | 184,556,859 | — | 184,556,859 | — |
Taiwan | 392,662,071 | — | 392,662,071 | — |
United Kingdom | 1,067,792,055 | — | 1,067,792,055 | — |
United States | 103,593,095 | $103,593,095 | — | — |
Short-term investments | 320,889,403 | 201,889,403 | 119,000,000 | — |
Total investments in securities | $7,742,144,128 | $1,320,745,185 | $6,421,398,943 | — |
ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 27 |
28 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT |
March 31, 2023 | March 31, 2022 | |
Ordinary income | $1,760 | $240,643,249 |
Long-term capital gains | 901,742,926 | 1,596,756,659 |
Total | $901,744,686 | $1,837,399,908 |
ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 29 |
Class | Expense reduction |
Class A | $38,748 |
Class C | 8,985 |
Class I | 387,006 |
Class R2 | 2,515 |
Class R4 | 799 |
Class | Expense reduction |
Class R6 | $142,777 |
Class 1 | 4,328 |
Class NAV | 55,779 |
Total | $640,937 |
30 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT |
Class | Rule 12b-1 Fee | Service fee |
Class A | 0.30% | — |
Class C | 1.00% | — |
Class R2 | 0.25% | 0.25% |
Class R4 | 0.25% | 0.10% |
Class 1 | 0.05% | — |
Class | Distribution and service fees | Transfer agent fees |
Class A | $1,570,285 | $603,597 |
Class C | 1,210,698 | 139,851 |
Class I | — | 6,024,877 |
ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 31 |
Class | Distribution and service fees | Transfer agent fees |
Class R2 | $168,321 | $3,232 |
Class R4 | 35,054 | 1,004 |
Class R6 | — | 183,311 |
Class 1 | 29,246 | — |
Total | $3,013,604 | $6,955,872 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Borrower | $28,657,111 | 45 | 2.821% | ($101,040) |
Lender | $23,933,333 | 3 | 3.122% | $6,226 |
Year Ended 3-31-23 | Year Ended 3-31-22 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 4,121,786 | $102,713,067 | 5,253,683 | $196,670,262 |
Distributions reinvested | 2,555,111 | 56,442,401 | 2,823,464 | 94,529,556 |
Repurchased | (7,075,660) | (175,487,551) | (4,340,985) | (158,090,271) |
Net increase (decrease) | (398,763) | $(16,332,083) | 3,736,162 | $133,109,547 |
Class C shares | ||||
Sold | 152,991 | $3,573,163 | 292,252 | $10,738,054 |
Distributions reinvested | 607,044 | 12,784,349 | 811,423 | 26,241,424 |
Repurchased | (2,452,425) | (58,086,690) | (1,288,020) | (45,807,208) |
Net decrease | (1,692,390) | $(41,729,178) | (184,345) | $(8,827,730) |
Class I shares | ||||
Sold | 58,845,096 | $1,467,041,280 | 64,526,823 | $2,362,927,312 |
Distributions reinvested | 20,243,461 | 450,012,141 | 30,801,555 | 1,033,700,185 |
Repurchased | (175,049,641) | (4,367,898,361) | (65,386,239) | (2,317,490,127) |
Net increase (decrease) | (95,961,084) | $(2,450,844,940) | 29,942,139 | $1,079,137,370 |
32 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT |
Year Ended 3-31-23 | Year Ended 3-31-22 | |||
Shares | Amount | Shares | Amount | |
Class R2 shares | ||||
Sold | 326,408 | $8,123,696 | 204,886 | $7,553,105 |
Distributions reinvested | 167,484 | 3,698,042 | 165,508 | 5,544,525 |
Repurchased | (283,249) | (6,947,643) | (410,303) | (15,409,480) |
Net increase (decrease) | 210,643 | $4,874,095 | (39,909) | $(2,311,850) |
Class R4 shares | ||||
Sold | 158,362 | $3,933,660 | 199,618 | $7,093,777 |
Distributions reinvested | 37,265 | 826,906 | 197,303 | 6,621,487 |
Repurchased | (1,285,733) | (35,739,428) | (184,528) | (6,905,659) |
Net increase (decrease) | (1,090,106) | $(30,978,862) | 212,393 | $6,809,605 |
Class R6 shares | ||||
Sold | 14,240,010 | $359,571,642 | 17,830,567 | $657,899,168 |
Distributions reinvested | 9,895,144 | 220,463,812 | 10,788,979 | 362,401,816 |
Repurchased | (22,459,754) | (568,706,165) | (15,345,428) | (551,328,996) |
Net increase | 1,675,400 | $11,329,289 | 13,274,118 | $468,971,988 |
Class 1 shares | ||||
Sold | 172,182 | $4,299,192 | 204,864 | $7,854,829 |
Distributions reinvested | 301,139 | 6,694,331 | 334,618 | 11,223,078 |
Repurchased | (442,864) | (11,026,986) | (344,923) | (12,992,669) |
Net increase (decrease) | 30,457 | $(33,463) | 194,559 | $6,085,238 |
Class NAV shares | ||||
Sold | 2,471,385 | $63,296,784 | 1,185,055 | $41,937,327 |
Distributions reinvested | 4,078,845 | 90,713,513 | 3,963,039 | 132,920,326 |
Repurchased | (2,705,530) | (64,995,107) | (4,907,059) | (191,154,585) |
Net increase (decrease) | 3,844,700 | $89,015,190 | 241,035 | $(16,296,932) |
Total net increase (decrease) | (93,381,143) | $(2,434,699,952) | 47,376,152 | $1,666,677,236 |
ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 33 |
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* | 20,195,201 | — | $1,265,291,894 | $(1,063,277,763) | $(103,157) | $(21,571) | $728,160 | — | $201,889,403 |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
34 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 35 |
36 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
• | The Fund’s investment strategy remained appropriate for an open-end fund structure; |
• | The Fund was able to meet requests for redemption without significant dilution of remaining shareholders’ interests in the Fund; |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 37 |
• | The Fund did not experience any breaches of the 15% limit on illiquid investments, or any applicable HLIM, that would require reporting to the Securities and Exchange Commission; |
• | The Fund continued to qualify as a Primarily Highly Liquid Fund under the Liquidity Rule and therefore is not required to establish a HLIM; and |
• | The Chief Compliance Officer’s office, 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. |
38 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
Independent Trustees | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Hassell H. McClellan, Born: 1945 | 2012 | 186 |
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 | 183 |
Trustee | ||
Board Member, United of Omaha Life Insurance Company (since 2022). Board Member, Mutual of Omaha Investor Services, Inc. (since 2022). Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). 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). | ||
William H. Cunningham,2 Born: 1944 | 2006 | 184 |
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; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | ||
Noni L. Ellison,* Born: 1971 | 2022 | 183 |
Trustee | ||
Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children’s Healthcare of Atlanta Foundation Board (2021–present). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | ||
Grace K. Fey, Born: 1946 | 2012 | 186 |
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). | ||
Dean C. Garfield,* Born: 1968 | 2022 | 183 |
Trustee | ||
Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 39 |
Independent Trustees (continued) | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Deborah C. Jackson, Born: 1952 | 2008 | 185 |
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); 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 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). | ||
Patricia Lizarraga,2,* Born: 1966 | 2022 | 183 |
Trustee | ||
Founder, Chief Executive Officer, Hypatia Capital Group (advisory and asset management company) (since 2007); Independent Director, Audit Committee Chair, and Risk Committee Member, Credicorp, Ltd. (since 2017); Independent Director, Audit Committee Chair, Banco De Credito Del Peru (since 2017); Trustee, Museum of Art of Lima (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | ||
Steven R. Pruchansky, Born: 1944 | 2006 | 183 |
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 | 183 |
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 and Audit Committee Chair, 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 | 183 |
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); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
40 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
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 | 184 |
President and Non-Independent Trustee | ||
Global Head of Retail for Manulife (since 2022); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | ||
Marianne Harrison,^ Born: 1963 | 2018 | 183 |
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 and since 2017). Trustee of various trusts within the John Hancock Fund Complex (since 2018). | ||
Paul Lorentz,† Born: 1968 | 2022 | 183 |
Non-Independent Trustee | ||
Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |
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). |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 41 |
Principal officers who are not Trustees (continued) | |
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years | Current Position(s) with the Trust since |
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). |
1 | Each Trustee holds office until his or her successor is duly 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. |
* | Elected to serve as Independent Trustee effective as of September 9, 2022. |
^ | Ms. Harrison is retiring effective May 1, 2023. |
† | Elected to serve as Non-Independent Trustee effective as of September 9, 2022. |
42 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
William H. Cunningham*
Grace K. Fey
Noni L. Ellison^
Dean C. Garfield^
Marianne Harrison†,#
Deborah C. Jackson
Patricia Lizarraga*,^
Paul Lorentz‡
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 |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 43 |
GOVERNANCE FUNDS
with a heritage of financial stewardship dating back to 1862. Helping
our shareholders pursue their financial goals is at the core of everything
we do. It’s why we support the role of professional financial advice
and operate with the highest standards of conduct and integrity.
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
a diverse set of investments backed by some of the world’s best
managers, along with strong risk-adjusted returns across asset classes.
200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
MF2833368 | 87A 3/23 |
Manulife Investment Management
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 1 |
2 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 3 |
TOP 10 HOLDINGS AS OF 3/31/2023 (% of net assets) | |
Microsoft Corp. | 12.1 |
Apple, Inc. | 9.5 |
Alphabet, Inc., Class A | 6.8 |
Amazon.com, Inc. | 5.9 |
UnitedHealth Group, Inc. | 3.3 |
Mastercard, Inc., Class A | 3.1 |
Visa, Inc., Class A | 2.9 |
Eli Lilly & Company | 2.5 |
Meta Platforms, Inc., Class A | 2.1 |
Accenture PLC, Class A | 1.9 |
TOTAL | 50.1 |
Cash and cash equivalents are not included. |
4 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 5 |
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | ||||
1-year | 5-year | 10-year | 5-year | 10-year | |
Class A | -15.66 | 9.55 | 12.21 | 57.80 | 216.39 |
Class C1 | -12.71 | 9.86 | 12.06 | 60.04 | 212.22 |
Class I2 | -11.05 | 10.95 | 13.08 | 68.14 | 241.99 |
Class R21,2 | -11.36 | 10.53 | 12.67 | 64.98 | 229.61 |
Class R41,2 | -11.13 | 10.83 | 12.90 | 67.20 | 236.49 |
Class R61,2 | -10.91 | 11.08 | 13.12 | 69.11 | 243.05 |
Class NAV2 | -10.96 | 11.09 | 13.24 | 69.18 | 246.80 |
Index† | -10.90 | 13.66 | 14.59 | 89.69 | 290.43 |
Class A | Class C | Class I | Class R2 | Class R4 | Class R6 | Class NAV | |
Gross (%) | 0.96 | 1.71 | 0.71 | 1.11 | 0.96 | 0.61 | 0.60 |
Net (%) | 0.96 | 1.71 | 0.71 | 1.10 | 0.85 | 0.60 | 0.59 |
6 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class C1,3 | 3-31-13 | 31,222 | 31,222 | 39,043 |
Class I2 | 3-31-13 | 34,199 | 34,199 | 39,043 |
Class R21,2 | 3-31-13 | 32,961 | 32,961 | 39,043 |
Class R41,2 | 3-31-13 | 33,649 | 33,649 | 39,043 |
Class R61,2 | 3-31-13 | 34,305 | 34,305 | 39,043 |
Class NAV2 | 3-31-13 | 34,680 | 34,680 | 39,043 |
1 | Class C shares were first offered on 8-28-14; Class R2, Class R4, and Class R6 shares were first offered on 3-27-15. Returns prior to these dates are those of Class A shares that have not been adjusted for class-specific expenses; otherwise, returns would vary. |
2 | For certain types of investors, as described in the fund’s prospectuses. |
3 | The contingent deferred sales charge is not applicable. |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 7 |
8 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
Account value on 10-1-2022 | Ending value on 3-31-2023 | Expenses paid during period ended 3-31-20231 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,123.30 | $5.24 | 0.99% |
Hypothetical example | 1,000.00 | 1,020.00 | 4.99 | 0.99% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,119.00 | 9.19 | 1.74% |
Hypothetical example | 1,000.00 | 1,016.30 | 8.75 | 1.74% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,124.00 | 3.92 | 0.74% |
Hypothetical example | 1,000.00 | 1,021.20 | 3.73 | 0.74% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 1,122.40 | 5.93 | 1.12% |
Hypothetical example | 1,000.00 | 1,019.30 | 5.64 | 1.12% | |
Class R4 | Actual expenses/actual returns | 1,000.00 | 1,124.00 | 4.50 | 0.85% |
Hypothetical example | 1,000.00 | 1,020.70 | 4.28 | 0.85% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,125.00 | 3.34 | 0.63% |
Hypothetical example | 1,000.00 | 1,021.80 | 3.18 | 0.63% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 1,125.00 | 3.28 | 0.62% |
Hypothetical example | 1,000.00 | 1,021.80 | 3.13 | 0.62% |
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 99.9% | $994,715,234 | ||||
(Cost $737,543,361) | |||||
Communication services 8.9% | 88,093,494 | ||||
Interactive media and services 8.9% | |||||
Alphabet, Inc., Class A (A) | 648,547 | 67,273,780 | |||
Meta Platforms, Inc., Class A (A) | 98,234 | 20,819,714 | |||
Consumer discretionary 13.4% | 132,867,537 | ||||
Broadline retail 7.2% | |||||
Amazon.com, Inc. (A) | 568,666 | 58,737,511 | |||
Etsy, Inc. (A) | 115,791 | 12,891,012 | |||
Hotels, restaurants and leisure 3.5% | |||||
Airbnb, Inc., Class A (A) | 114,719 | 14,271,044 | |||
DraftKings, Inc., Class A (A) | 571,446 | 11,063,195 | |||
Hyatt Hotels Corp., Class A (A) | 86,866 | 9,710,750 | |||
Household durables 1.3% | |||||
Lennar Corp., A Shares | 116,861 | 12,283,260 | |||
Specialty retail 1.4% | |||||
Ulta Beauty, Inc. (A) | 25,493 | 13,910,765 | |||
Energy 1.2% | 11,937,978 | ||||
Energy equipment and services 1.2% | |||||
Schlumberger, Ltd. | 243,136 | 11,937,978 | |||
Financials 12.0% | 119,852,437 | ||||
Capital markets 3.6% | |||||
Ares Management Corp., Class A | 178,245 | 14,872,763 | |||
Morgan Stanley | 113,397 | 9,956,257 | |||
MSCI, Inc. | 20,727 | 11,600,695 | |||
Consumer finance 1.3% | |||||
American Express Company | 80,547 | 13,286,228 | |||
Financial services 6.0% | |||||
Mastercard, Inc., Class A | 84,092 | 30,559,874 | |||
Visa, Inc., Class A | 128,434 | 28,956,730 | |||
Insurance 1.1% | |||||
Arch Capital Group, Ltd. (A) | 156,474 | 10,619,890 | |||
Health care 14.7% | 146,434,863 | ||||
Biotechnology 2.8% | |||||
United Therapeutics Corp. (A) | 52,330 | 11,719,827 | |||
Vertex Pharmaceuticals, Inc. (A) | 50,785 | 16,000,830 | |||
Health care equipment and supplies 1.1% | |||||
Hologic, Inc. (A) | 138,148 | 11,148,544 |
10 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Health care (continued) | |||||
Health care providers and services 6.8% | |||||
Elevance Health, Inc. | 24,929 | $11,462,603 | |||
Humana, Inc. | 26,169 | 12,704,003 | |||
McKesson Corp. | 28,246 | 10,056,988 | |||
UnitedHealth Group, Inc. | 69,990 | 33,076,574 | |||
Pharmaceuticals 4.0% | |||||
Eli Lilly & Company | 73,151 | 25,121,516 | |||
Merck & Company, Inc. | 142,344 | 15,143,978 | |||
Industrials 5.4% | 54,073,071 | ||||
Building products 2.2% | |||||
Builders FirstSource, Inc. (A) | 140,239 | 12,450,418 | |||
Johnson Controls International PLC | 162,439 | 9,782,077 | |||
Ground transportation 2.2% | |||||
Knight-Swift Transportation Holdings, Inc. | 164,036 | 9,281,157 | |||
Uber Technologies, Inc. (A) | 407,112 | 12,905,450 | |||
Professional services 1.0% | |||||
EXL Service Holdings, Inc. (A) | 59,655 | 9,653,969 | |||
Information technology 43.4% | 432,458,285 | ||||
Electronic equipment, instruments and components 2.4% | |||||
Flex, Ltd. (A) | 455,268 | 10,475,717 | |||
Jabil, Inc. | 153,013 | 13,489,626 | |||
IT services 4.7% | |||||
Accenture PLC, Class A | 67,002 | 19,149,842 | |||
Gartner, Inc. (A) | 55,716 | 18,150,601 | |||
GoDaddy, Inc., Class A (A) | 127,716 | 9,926,088 | |||
Semiconductors and semiconductor equipment 10.1% | |||||
Advanced Micro Devices, Inc. (A) | 162,504 | 15,927,017 | |||
Analog Devices, Inc. | 72,039 | 14,207,532 | |||
KLA Corp. | 37,381 | 14,921,374 | |||
Microchip Technology, Inc. | 193,495 | 16,211,011 | |||
NVIDIA Corp. | 35,649 | 9,902,223 | |||
NXP Semiconductors NV | 78,211 | 14,584,396 | |||
ON Semiconductor Corp. (A) | 175,761 | 14,468,646 | |||
Software 16.7% | |||||
Microsoft Corp. | 418,459 | 120,641,727 | |||
Palo Alto Networks, Inc. (A) | 67,353 | 13,453,088 | |||
Salesforce, Inc. (A) | 86,403 | 17,261,591 | |||
ServiceNow, Inc. (A) | 32,305 | 15,012,780 | |||
Technology hardware, storage and peripherals 9.5% | |||||
Apple, Inc. | 574,136 | 94,675,026 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 11 |
Shares | Value | ||||
Real estate 0.9% | $8,997,569 | ||||
Real estate management and development 0.9% | |||||
CBRE Group, Inc., Class A (A) | 123,576 | 8,997,569 | |||
Yield (%) | Shares | Value | |||
Short-term investments 0.1% | $408,199 | ||||
(Cost $408,199) | |||||
Short-term funds 0.1% | 408,199 | ||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 4.6799(B) | 408,199 | 408,199 |
Total investments (Cost $737,951,560) 100.0% | $995,123,433 | ||||
Other assets and liabilities, net 0.0% | 405,063 | ||||
Total net assets 100.0% | $995,528,496 |
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 3-31-23. |
12 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Assets | |
Unaffiliated investments, at value (Cost $737,951,560) | $995,123,433 |
Dividends and interest receivable | 423,697 |
Receivable for fund shares sold | 988,391 |
Receivable for securities lending income | 85 |
Other assets | 171,495 |
Total assets | 996,707,101 |
Liabilities | |
Payable for investments purchased | 8,784 |
Payable for fund shares repurchased | 949,568 |
Payable to affiliates | |
Accounting and legal services fees | 37,364 |
Transfer agent fees | 74,475 |
Distribution and service fees | 258 |
Trustees’ fees | 86 |
Other liabilities and accrued expenses | 108,070 |
Total liabilities | 1,178,605 |
Net assets | $995,528,496 |
Net assets consist of | |
Paid-in capital | $716,643,608 |
Total distributable earnings (loss) | 278,884,888 |
Net assets | $995,528,496 |
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 ($546,808,208 ÷ 29,884,645 shares)1 | $18.30 |
Class C ($19,316,029 ÷ 1,127,693 shares)1 | $17.13 |
Class I ($261,796,457 ÷ 14,026,773 shares) | $18.66 |
Class R2 ($1,261,139 ÷ 68,475 shares) | $18.42 |
Class R4 ($14,285 ÷ 766 shares) | $18.65 |
Class R6 ($121,173,699 ÷ 6,453,071 shares) | $18.78 |
Class NAV ($45,158,679 ÷ 2,405,567 shares) | $18.77 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $19.26 |
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 U.S. Growth Fund | 13 |
Investment income | |
Dividends | $9,529,525 |
Interest | 104,020 |
Securities lending | 85 |
Less foreign taxes withheld | (27,384) |
Total investment income | 9,606,246 |
Expenses | |
Investment management fees | 5,662,601 |
Distribution and service fees | 1,615,739 |
Accounting and legal services fees | 156,331 |
Transfer agent fees | 986,327 |
Trustees’ fees | 22,255 |
Custodian fees | 135,751 |
State registration fees | 141,563 |
Printing and postage | 75,680 |
Professional fees | 83,529 |
Other | 53,542 |
Total expenses | 8,933,318 |
Less expense reductions | (74,977) |
Net expenses | 8,858,341 |
Net investment income | 747,905 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments | 24,561,988 |
Affiliated investments | 272 |
24,562,260 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments | (168,714,240) |
(168,714,240) | |
Net realized and unrealized loss | (144,151,980) |
Decrease in net assets from operations | $(143,404,075) |
14 | JOHN HANCOCK U.S. Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Year ended 3-31-23 | Year ended 3-31-22 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income (loss) | $747,905 | $(3,971,566) |
Net realized gain | 24,562,260 | 158,059,282 |
Change in net unrealized appreciation (depreciation) | (168,714,240) | (19,833,844) |
Increase (decrease) in net assets resulting from operations | (143,404,075) | 134,253,872 |
Distributions to shareholders | ||
From earnings | ||
Class A | (52,473,465) | (94,881,817) |
Class C | (2,139,626) | (4,787,408) |
Class I | (23,364,807) | (53,794,432) |
Class R2 | (123,707) | (211,758) |
Class R4 | (1,417) | (570) |
Class R6 | (11,875,722) | (20,223,435) |
Class NAV | (4,145,376) | (7,440,684) |
Total distributions | (94,124,120) | (181,340,104) |
From fund share transactions | (13,096,826) | (4,662,273) |
Total decrease | (250,625,021) | (51,748,505) |
Net assets | ||
Beginning of year | 1,246,153,517 | 1,297,902,022 |
End of year | $995,528,496 | $1,246,153,517 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 15 |
CLASS A SHARES Period ended | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $22.99 | $23.96 | $16.24 | $16.23 | $17.94 |
Net investment income (loss)1 | (0.01) | (0.10) | (0.07) | 0.01 | (0.01) |
Net realized and unrealized gain (loss) on investments | (2.76) | 2.75 | 8.40 | —2 | 2.22 |
Total from investment operations | (2.77) | 2.65 | 8.33 | 0.01 | 2.21 |
Less distributions | |||||
From net investment income | — | — | — | — | (0.03) |
From net realized gain | (1.92) | (3.62) | (0.61) | — | (3.89) |
Total distributions | (1.92) | (3.62) | (0.61) | — | (3.92) |
Net asset value, end of period | $18.30 | $22.99 | $23.96 | $16.24 | $16.23 |
Total return (%)3,4 | (11.22) | 10.06 | 51.37 | 0.06 | 12.22 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $547 | $670 | $653 | $458 | $404 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.99 | 0.96 | 1.01 | 1.01 | 1.10 |
Expenses including reductions | 0.98 | 0.96 | 1.00 | 1.00 | 1.09 |
Net investment income (loss) | (0.04) | (0.40) | (0.31) | 0.03 | (0.07) |
Portfolio turnover (%) | 103 | 91 | 101 | 915 | 886 |
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 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $21.84 | $23.08 | $15.77 | $15.88 | $17.71 |
Net investment loss1 | (0.14) | (0.28) | (0.23) | (0.12) | (0.14) |
Net realized and unrealized gain (loss) on investments | (2.65) | 2.66 | 8.15 | 0.01 | 2.20 |
Total from investment operations | (2.79) | 2.38 | 7.92 | (0.11) | 2.06 |
Less distributions | |||||
From net realized gain | (1.92) | (3.62) | (0.61) | — | (3.89) |
Net asset value, end of period | $17.13 | $21.84 | $23.08 | $15.77 | $15.88 |
Total return (%)2,3 | (11.93) | 9.25 | 50.29 | (0.69) | 11.44 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $19 | $30 | $35 | $23 | $12 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.74 | 1.71 | 1.76 | 1.76 | 1.85 |
Expenses including reductions | 1.73 | 1.71 | 1.75 | 1.75 | 1.84 |
Net investment loss | (0.78) | (1.15) | (1.07) | (0.72) | (0.85) |
Portfolio turnover (%) | 103 | 91 | 101 | 914 | 885 |
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 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.35 | $24.23 | $16.38 | $16.36 | $18.05 |
Net investment income (loss)1 | 0.04 | (0.04) | (0.01) | 0.05 | 0.04 |
Net realized and unrealized gain (loss) on investments | (2.81) | 2.78 | 8.49 | (0.01) | 2.23 |
Total from investment operations | (2.77) | 2.74 | 8.48 | 0.04 | 2.27 |
Less distributions | |||||
From net investment income | — | — | (0.02) | (0.02) | (0.07) |
From net realized gain | (1.92) | (3.62) | (0.61) | — | (3.89) |
Total distributions | (1.92) | (3.62) | (0.63) | (0.02) | (3.96) |
Net asset value, end of period | $18.66 | $23.35 | $24.23 | $16.38 | $16.36 |
Total return (%)2 | (11.05) | 10.33 | 51.84 | 0.26 | 12.55 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $262 | $347 | $408 | $321 | $115 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.74 | 0.71 | 0.76 | 0.76 | 0.87 |
Expenses including reductions | 0.73 | 0.71 | 0.75 | 0.75 | 0.86 |
Net investment income (loss) | 0.21 | (0.16) | (0.06) | 0.28 | 0.25 |
Portfolio turnover (%) | 103 | 91 | 101 | 913 | 884 |
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 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.16 | $24.15 | $16.38 | $16.40 | $18.08 |
Net investment loss1 | (0.03) | (0.14) | (0.10) | (0.02) | (0.04) |
Net realized and unrealized gain (loss) on investments | (2.79) | 2.77 | 8.48 | —2 | 2.25 |
Total from investment operations | (2.82) | 2.63 | 8.38 | (0.02) | 2.21 |
Less distributions | |||||
From net investment income | — | — | — | — | —2 |
From net realized gain | (1.92) | (3.62) | (0.61) | — | (3.89) |
Total distributions | (1.92) | (3.62) | (0.61) | — | (3.89) |
Net asset value, end of period | $18.42 | $23.16 | $24.15 | $16.38 | $16.40 |
Total return (%)3 | (11.36) | 9.89 | 51.24 | (0.12) | 12.13 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1 | $2 | $1 | $1 | $1 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.12 | 1.10 | 1.14 | 1.15 | 1.25 |
Expenses including reductions | 1.11 | 1.09 | 1.13 | 1.14 | 1.25 |
Net investment loss | (0.16) | (0.54) | (0.45) | (0.11) | (0.22) |
Portfolio turnover (%) | 103 | 91 | 101 | 914 | 885 |
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 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.36 | $24.25 | $16.41 | $16.39 | $18.08 |
Net investment income (loss)1 | 0.02 | (0.05) | (0.03) | 0.03 | 0.01 |
Net realized and unrealized gain (loss) on investments | (2.81) | 2.78 | 8.48 | —2 | 2.24 |
Total from investment operations | (2.79) | 2.73 | 8.45 | 0.03 | 2.25 |
Less distributions | |||||
From net investment income | — | — | —2 | (0.01) | (0.05) |
From net realized gain | (1.92) | (3.62) | (0.61) | — | (3.89) |
Total distributions | (1.92) | (3.62) | (0.61) | (0.01) | (3.94) |
Net asset value, end of period | $18.65 | $23.36 | $24.25 | $16.41 | $16.39 |
Total return (%)3 | (11.13) | 10.27 | 51.59 | 0.17 | 12.36 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $—4 | $—4 | $—4 | $1 | $1 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.95 | 0.89 | 1.00 | 1.00 | 1.10 |
Expenses including reductions | 0.84 | 0.79 | 0.89 | 0.89 | 1.00 |
Net investment income (loss) | 0.12 | (0.23) | (0.14) | 0.15 | 0.03 |
Portfolio turnover (%) | 103 | 91 | 101 | 915 | 886 |
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 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.45 | $24.30 | $16.42 | $16.39 | $18.08 |
Net investment income (loss)1 | 0.06 | (0.01) | 0.01 | 0.07 | 0.05 |
Net realized and unrealized gain (loss) on investments | (2.81) | 2.78 | 8.51 | —2 | 2.24 |
Total from investment operations | (2.75) | 2.77 | 8.52 | 0.07 | 2.29 |
Less distributions | |||||
From net investment income | — | — | (0.03) | (0.04) | (0.09) |
From net realized gain | (1.92) | (3.62) | (0.61) | — | (3.89) |
Total distributions | (1.92) | (3.62) | (0.64) | (0.04) | (3.98) |
Net asset value, end of period | $18.78 | $23.45 | $24.30 | $16.42 | $16.39 |
Total return (%)3 | (10.91) | 10.43 | 51.96 | 0.38 | 12.68 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $121 | $145 | $147 | $99 | $15 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.63 | 0.61 | 0.65 | 0.65 | 0.75 |
Expenses including reductions | 0.63 | 0.60 | 0.64 | 0.64 | 0.74 |
Net investment income (loss) | 0.32 | (0.05) | 0.04 | 0.37 | 0.29 |
Portfolio turnover (%) | 103 | 91 | 101 | 914 | 885 |
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 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 | 3-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.45 | $24.29 | $16.41 | $16.38 | $18.07 |
Net investment income (loss)1 | 0.06 | (0.01) | 0.01 | 0.07 | 0.03 |
Net realized and unrealized gain (loss) on investments | (2.82) | 2.79 | 8.51 | —2 | 2.26 |
Total from investment operations | (2.76) | 2.78 | 8.52 | 0.07 | 2.29 |
Less distributions | |||||
From net investment income | — | — | (0.03) | (0.04) | (0.09) |
From net realized gain | (1.92) | (3.62) | (0.61) | — | (3.89) |
Total distributions | (1.92) | (3.62) | (0.64) | (0.04) | (3.98) |
Net asset value, end of period | $18.77 | $23.45 | $24.29 | $16.41 | $16.38 |
Total return (%)3 | (10.96) | 10.48 | 52.01 | 0.39 | 12.69 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $45 | $52 | $54 | $40 | $—4 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.62 | 0.60 | 0.64 | 0.64 | 0.74 |
Expenses including reductions | 0.62 | 0.59 | 0.63 | 0.63 | 0.73 |
Net investment income (loss) | 0.33 | (0.04) | 0.06 | 0.41 | 0.18 |
Portfolio turnover (%) | 103 | 91 | 101 | 915 | 886 |
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, 2023 | March 31, 2022 | |
Ordinary income | — | $44,902,603 |
Long-term capital gains | $94,124,120 | 136,437,501 |
Total | $94,124,120 | $181,340,104 |
ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 25 |
Class | Expense reduction |
Class A | $40,833 |
Class C | 1,689 |
Class I | 19,974 |
Class R2 | 93 |
Class | Expense reduction |
Class R6 | $9,110 |
Class NAV | 3,269 |
Total | $74,968 |
26 | JOHN HANCOCK U.S. Growth Fund | ANNUAL REPORT |
Class | Rule 12b-1 Fee | Service fee |
Class A | 0.25% | — |
Class C | 1.00% | — |
Class R2 | 0.25% | 0.25% |
Class R4 | 0.25% | 0.10% |
ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 27 |
Class | Distribution and service fees | Transfer agent fees |
Class A | $1,381,441 | $636,804 |
Class C | 228,201 | 26,337 |
Class I | — | 311,354 |
Class R2 | 6,069 | 120 |
Class R4 | 28 | 1 |
Class R6 | — | 11,711 |
Total | $1,615,739 | $986,327 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Lender | $5,166,667 | 6 | 3.026% | $2,606 |
Year Ended 3-31-23 | Year Ended 3-31-22 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 1,802,319 | $34,073,217 | 1,212,772 | $30,823,365 |
Distributions reinvested | 3,096,748 | 51,498,951 | 3,762,581 | 92,785,993 |
Repurchased | (4,163,977) | (79,567,057) | (3,076,018) | (77,793,440) |
Net increase | 735,090 | $6,005,111 | 1,899,335 | $45,815,918 |
Class C shares | ||||
Sold | 76,383 | $1,375,885 | 80,525 | $1,960,557 |
Distributions reinvested | 137,042 | 2,137,853 | 203,317 | 4,769,820 |
Repurchased | (472,717) | (8,404,996) | (401,076) | (9,639,707) |
Net decrease | (259,292) | $(4,891,258) | (117,234) | $(2,909,330) |
28 | JOHN HANCOCK U.S. Growth Fund | ANNUAL REPORT |
Year Ended 3-31-23 | Year Ended 3-31-22 | |||
Shares | Amount | Shares | Amount | |
Class I shares | ||||
Sold | 4,226,606 | $80,874,177 | 2,338,632 | $59,285,230 |
Distributions reinvested | 1,376,354 | 23,329,193 | 2,145,580 | 53,682,403 |
Repurchased | (6,429,940) | (125,779,097) | (6,480,524) | (164,709,542) |
Net decrease | (826,980) | $(21,575,727) | (1,996,312) | $(51,741,909) |
Class R2 shares | ||||
Sold | 8,565 | $170,572 | 5,359 | $133,531 |
Distributions reinvested | 6,625 | 110,964 | 8,525 | 211,758 |
Repurchased | (11,523) | (215,716) | (4,701) | (110,252) |
Net increase | 3,667 | $65,820 | 9,183 | $235,037 |
Class R4 shares | ||||
Sold | 559 | $10,468 | 10 | $270 |
Distributions reinvested | 23 | 392 | 23 | 570 |
Repurchased | — | — | (12) | (324) |
Net increase | 582 | $10,860 | 21 | $516 |
Class R6 shares | ||||
Sold | 1,245,396 | $24,849,817 | 970,782 | $25,301,012 |
Distributions reinvested | 696,523 | 11,875,722 | 805,073 | 20,223,435 |
Repurchased | (1,675,915) | (32,375,118) | (1,629,093) | (41,748,773) |
Net increase | 266,004 | $4,350,421 | 146,762 | $3,775,674 |
Class NAV shares | ||||
Sold | 206,786 | $4,035,518 | 217,307 | $5,705,814 |
Distributions reinvested | 243,131 | 4,145,376 | 296,324 | 7,440,684 |
Repurchased | (268,244) | (5,242,947) | (501,469) | (12,984,677) |
Net increase | 181,673 | $2,937,947 | 12,162 | $161,821 |
Total net increase (decrease) | 100,744 | $(13,096,826) | (46,083) | $(4,662,273) |
ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 29 |
Dividends and distributions | |||||||||
Affiliate | Ending share amount | Beginning value | Cost of purchases | Proceeds from shares sold | Realized gain (loss) | Change in unrealized appreciation (depreciation) | Income distributions received | Capital gain distributions received | Ending value |
John Hancock Collateral Trust* | — | — | $14,759,250 | $(14,759,522) | $272 | — | $85 | — | — |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
30 | JOHN HANCOCK U.S. Growth Fund | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 31 |
32 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
• | The Fund’s investment strategy remained appropriate for an open-end fund structure; |
• | The Fund was able to meet requests for redemption without significant dilution of remaining shareholders’ interests in the Fund; |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 33 |
• | The Fund did not experience any breaches of the 15% limit on illiquid investments, or any applicable HLIM, that would require reporting to the Securities and Exchange Commission; |
• | The Fund continued to qualify as a Primarily Highly Liquid Fund under the Liquidity Rule and therefore is not required to establish a HLIM; and |
• | The Chief Compliance Officer’s office, 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. |
34 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
Independent Trustees | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Hassell H. McClellan, Born: 1945 | 2012 | 186 |
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 | 183 |
Trustee | ||
Board Member, United of Omaha Life Insurance Company (since 2022). Board Member, Mutual of Omaha Investor Services, Inc. (since 2022). Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). 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). | ||
William H. Cunningham,2 Born: 1944 | 2006 | 184 |
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; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | ||
Noni L. Ellison,* Born: 1971 | 2022 | 183 |
Trustee | ||
Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children’s Healthcare of Atlanta Foundation Board (2021–present). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | ||
Grace K. Fey, Born: 1946 | 2012 | 186 |
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). | ||
Dean C. Garfield,* Born: 1968 | 2022 | 183 |
Trustee | ||
Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 35 |
Independent Trustees (continued) | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Deborah C. Jackson, Born: 1952 | 2008 | 185 |
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); 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 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). | ||
Patricia Lizarraga,2,* Born: 1966 | 2022 | 183 |
Trustee | ||
Founder, Chief Executive Officer, Hypatia Capital Group (advisory and asset management company) (since 2007); Independent Director, Audit Committee Chair, and Risk Committee Member, Credicorp, Ltd. (since 2017); Independent Director, Audit Committee Chair, Banco De Credito Del Peru (since 2017); Trustee, Museum of Art of Lima (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | ||
Steven R. Pruchansky, Born: 1944 | 2006 | 183 |
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 | 183 |
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 and Audit Committee Chair, 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 | 183 |
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); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
36 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
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 | 184 |
President and Non-Independent Trustee | ||
Global Head of Retail for Manulife (since 2022); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | ||
Marianne Harrison,^ Born: 1963 | 2018 | 183 |
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 and since 2017). Trustee of various trusts within the John Hancock Fund Complex (since 2018). | ||
Paul Lorentz,† Born: 1968 | 2022 | 183 |
Non-Independent Trustee | ||
Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |
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). |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 37 |
Principal officers who are not Trustees (continued) | |
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years | Current Position(s) with the Trust since |
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). |
1 | Each Trustee holds office until his or her successor is duly 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. |
* | Elected to serve as Independent Trustee effective as of September 9, 2022. |
^ | Ms. Harrison is retiring effective May 1, 2023. |
† | Elected to serve as Non-Independent Trustee effective as of September 9, 2022. |
38 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
William H. Cunningham*
Grace K. Fey
Noni L. Ellison^
Dean C. Garfield^
Marianne Harrison†,#
Deborah C. Jackson
Patricia Lizarraga*,^
Paul Lorentz‡
Frances G. Rathke*
Gregory A. Russo
President
Chief Financial Officer
Treasurer
Secretary and Chief Legal Officer
Chief Compliance Officer
Timothy N. 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 |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 39 |
GOVERNANCE FUNDS
with a heritage of financial stewardship dating back to 1862. Helping
our shareholders pursue their financial goals is at the core of everything
we do. It’s why we support the role of professional financial advice
and operate with the highest standards of conduct and integrity.
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
a diverse set of investments backed by some of the world’s best
managers, along with strong risk-adjusted returns across asset classes.
200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
MF2833379 | 393A 3/23 |
ITEM 2. CODE OF ETHICS.
As of the end of the year, March 31, 2023, the registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its Chief Executive Officer, Chief Financial Officer and Treasurer (respectively, the principal executive officer, the principal financial officer and the principal accounting officer, the "Covered Officers"). A copy of the code of ethics is filed as an exhibit to this Form N-CSR.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Frances G. Rathke is the audit committee financial expert and is "independent", pursuant to general instructions on Form N-CSR Item 3.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
(a) Audit Fees
The aggregate fees billed for professional services rendered by the principal accountant for the audits of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements amounted to the following for the fiscal years ended March 31, 2023 and 2022. These fees were billed to the registrant and were approved by the registrant's audit committee.
Fund |
| March 31, 2023 |
| March 31, 2022 |
Disciplined Value Fund | $ | 41,842 | $ | 39,676 |
Disciplined Value Mid Cap Fund |
| 54,077 |
| 51,263 |
Global Shareholder Yield Fund |
| 42,470 |
| 40,271 |
International Growth Fund |
| 56,252 |
| 53,336 |
U.S. Growth Fund |
| 43,235 |
| 40,995 |
Total | $ | 237,876 | $ | 225,541 |
(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 software licensing fees. Amounts billed to the registrant were as follows:
Fund |
| March 31, 2023 |
| March 31, 2022 |
Disciplined Value Fund | $ | 586 | $ | 781 |
Disciplined Value Mid Cap Fund |
| 586 |
| 781 |
Global Shareholder Yield |
| 586 |
| 781 |
International Growth |
| 586 |
| 781 |
U.S. Growth Fund |
| 586 |
| 781 |
Total | $ | 2,930 | $ | 3,905 |
Amounts billed to control affiliates were $121,890 and $119,500 for the fiscal years ended March 31, 2023 and 2022, 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, 2023 and 2022. 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, 2023 |
| March 31, 2022 |
Disciplined Value Fund | $ | 4,110 | $ | 4,664 |
Disciplined Value Mid Cap Fund |
| 4,110 |
| 5,914 |
Global Shareholder Yield |
| 4,110 |
| 3,914 |
International Growth |
| 4,716 |
| 5,241 |
U.S. Growth Fund |
| 4,110 |
| 5,264 |
Total | $ | 21,156 | $ | 24,897 |
(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,
2023 and 2022:
Fund | March 31, 2023 |
| March 31, 2022 | |
Disciplined Value Fund | $ | 163 | $ | 199 |
Disciplined Value Mid Cap Fund |
| 163 |
| 199 |
Global Shareholder Yield |
| 163 |
| 199 |
International Growth |
| 163 |
| 199 |
U.S. Growth Fund |
| 163 |
| 199 |
Total | $ | 815 | $ | 995 |
(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, 2023, the percentage of hours spent on the audit of the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons who were not full-time, permanent employees of principal accountant was less than 50%.
(g)The aggregate non-audit fees billed by the registrant's principal accountant for non-audit services rendered to the registrant and rendered to the registrant's control affiliates were $1,220,892 for the fiscal year ended March 31, 2023 and $989,613 for the fiscal year ended March 31, 2022.
(h)The audit committee of the registrant has considered the non-audit services provided by the registrant's principal accountant to the control affiliates and has determined that the services that were not pre-approved are compatible with maintaining the principal accountant's independence.
(i)Not applicable
(j)Not applicable
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
The registrant has a separately-designated standing audit committee comprised of independent trustees. The members of the audit committee are as follows:
Frances G. Rathke – Chairperson
Peter S. Burgess – retired effective December 31, 2022
William H. Cunningham
Patricia Lizarraga, effective September 20, 2022
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 4, 2023 |
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 4, 2023 |
By: | /s/ Charles A. Rizzo |
| -------------------------------- |
| Charles A. Rizzo |
| Chief Financial Officer |
Date: | May 4, 2023 |