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, 2024 |
ITEM 1. REPORTS TO STOCKHOLDERS
The Registrant prepared the following five annual reports to shareholders for the period ended March 31, 2024:
•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
United States and Europe
Manulife Investment Management
John Hancock Investment Management
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 3/31/2024 (% of net assets) | |
JPMorgan Chase & Co. | 4.4 |
Berkshire Hathaway, Inc., Class B | 3.6 |
Alphabet, Inc., Class A | 2.9 |
Morgan Stanley | 2.1 |
Oracle Corp. | 2.0 |
Wells Fargo & Company | 1.8 |
AutoZone, Inc. | 1.8 |
Marathon Petroleum Corp. | 1.7 |
Philip Morris International, Inc. | 1.6 |
Micron Technology, Inc. | 1.6 |
TOTAL | 23.5 |
Cash and cash equivalents are not included. |
COUNTRY COMPOSITION AS OF 3/31/2024 (% of net assets) | |
United States | 88.5 |
Ireland | 3.4 |
Canada | 3.3 |
France | 1.5 |
United Kingdom | 1.4 |
Switzerland | 1.0 |
Other countries | 0.9 |
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 | 21.06 | 11.08 | 8.71 | 69.13 | 130.50 |
Class C | 25.40 | 11.40 | 8.46 | 71.57 | 125.20 |
Class I1 | 27.68 | 12.52 | 9.55 | 80.35 | 148.98 |
Class R21 | 27.22 | 12.08 | 9.12 | 76.85 | 139.27 |
Class R41 | 27.56 | 12.36 | 9.39 | 79.10 | 145.28 |
Class R51 | 27.81 | 12.59 | 9.62 | 80.89 | 150.48 |
Class R61 | 27.82 | 12.64 | 9.67 | 81.34 | 151.61 |
Class NAV1 | 27.87 | 12.66 | 9.68 | 81.45 | 151.93 |
Index 1† | 20.27 | 10.32 | 9.01 | 63.37 | 136.96 |
Index 2† | 29.88 | 15.05 | 12.96 | 101.57 | 238.26 |
Class A | Class C | Class I | Class R2 | Class R4 | Class R5 | Class R6 | Class NAV | |
Gross (%) | 1.02 | 1.77 | 0.77 | 1.16 | 1.01 | 0.71 | 0.66 | 0.65 |
Net (%) | 1.01 | 1.76 | 0.76 | 1.15 | 0.90 | 0.71 | 0.66 | 0.65 |
6 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
Start date | With maximum sales charge ($) | Without sales charge ($) | Index 1 ($) | Index 2 ($) | |
Class C2 | 3-31-14 | 22,520 | 22,520 | 23,696 | 33,826 |
Class I1 | 3-31-14 | 24,898 | 24,898 | 23,696 | 33,826 |
Class R21 | 3-31-14 | 23,927 | 23,927 | 23,696 | 33,826 |
Class R41 | 3-31-14 | 24,528 | 24,528 | 23,696 | 33,826 |
Class R51 | 3-31-14 | 25,048 | 25,048 | 23,696 | 33,826 |
Class R61 | 3-31-14 | 25,161 | 25,161 | 23,696 | 33,826 |
Class NAV1 | 3-31-14 | 25,193 | 25,193 | 23,696 | 33,826 |
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 10-1-2023 | Ending value on 3-31-2024 | Expenses paid during period ended 3-31-20241 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,213.80 | $5.70 | 1.03% |
Hypothetical example | 1,000.00 | 1,019.90 | 5.20 | 1.03% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,208.80 | 9.83 | 1.78% |
Hypothetical example | 1,000.00 | 1,016.10 | 8.97 | 1.78% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,214.90 | 4.32 | 0.78% |
Hypothetical example | 1,000.00 | 1,021.10 | 3.94 | 0.78% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 1,212.60 | 6.42 | 1.16% |
Hypothetical example | 1,000.00 | 1,019.20 | 5.86 | 1.16% | |
Class R4 | Actual expenses/actual returns | 1,000.00 | 1,214.30 | 5.04 | 0.91% |
Hypothetical example | 1,000.00 | 1,020.50 | 4.60 | 0.91% | |
Class R5 | Actual expenses/actual returns | 1,000.00 | 1,215.70 | 3.93 | 0.71% |
Hypothetical example | 1,000.00 | 1,021.50 | 3.59 | 0.71% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,215.80 | 3.66 | 0.66% |
Hypothetical example | 1,000.00 | 1,021.70 | 3.34 | 0.66% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 1,216.30 | 3.60 | 0.65% |
Hypothetical example | 1,000.00 | 1,021.80 | 3.29 | 0.65% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period). |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 9 |
Shares | Value | ||||
Common stocks 97.7% | $14,476,064,763 | ||||
(Cost $9,848,243,527) | |||||
Communication services 5.6% | 824,513,992 | ||||
Entertainment 0.4% | |||||
Take-Two Interactive Software, Inc. (A) | 329,171 | 48,878,602 | |||
Interactive media and services 2.9% | |||||
Alphabet, Inc., Class A (A) | 2,869,920 | 433,157,026 | |||
Media 1.0% | |||||
Omnicom Group, Inc. | 1,551,029 | 150,077,566 | |||
Wireless telecommunication services 1.3% | |||||
T-Mobile US, Inc. | 1,178,782 | 192,400,798 | |||
Consumer discretionary 4.8% | 710,319,572 | ||||
Distributors 0.3% | |||||
LKQ Corp. | 794,774 | 42,448,879 | |||
Hotels, restaurants and leisure 1.6% | |||||
Booking Holdings, Inc. | 32,050 | 116,273,554 | |||
MGM Resorts International (A) | 2,699,379 | 127,437,683 | |||
Specialty retail 2.9% | |||||
AutoNation, Inc. (A) | 470,267 | 77,866,810 | |||
AutoZone, Inc. (A) | 81,448 | 256,695,589 | |||
Ulta Beauty, Inc. (A) | 171,353 | 89,597,057 | |||
Consumer staples 8.3% | 1,231,424,998 | ||||
Beverages 1.1% | |||||
Coca-Cola Europacific Partners PLC | 1,225,240 | 85,705,538 | |||
Keurig Dr. Pepper, Inc. | 2,306,690 | 70,746,182 | |||
Consumer staples distribution and retail 3.9% | |||||
Target Corp. | 870,065 | 154,184,219 | |||
U.S. Foods Holding Corp. (A) | 3,486,067 | 188,143,036 | |||
Walmart, Inc. | 3,958,874 | 238,205,449 | |||
Food products 0.8% | |||||
The J.M. Smucker Company | 909,741 | 114,509,100 | |||
Personal care products 0.9% | |||||
Kenvue, Inc. | 6,365,396 | 136,601,398 | |||
Tobacco 1.6% | |||||
Philip Morris International, Inc. | 2,655,862 | 243,330,076 | |||
Energy 11.2% | 1,660,866,545 | ||||
Energy equipment and services 1.7% | |||||
NOV, Inc. | 2,766,419 | 54,000,499 | |||
Schlumberger, Ltd. | 3,744,474 | 205,234,620 |
10 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Energy (continued) | |||||
Oil, gas and consumable fuels 9.5% | |||||
BP PLC, ADR | 3,438,582 | $129,565,770 | |||
Canadian Natural Resources, Ltd. | 2,011,047 | 153,483,107 | |||
Cenovus Energy, Inc. | 11,954,250 | 238,965,458 | |||
ConocoPhillips | 1,648,944 | 209,877,592 | |||
Diamondback Energy, Inc. | 755,103 | 149,638,762 | |||
Marathon Petroleum Corp. | 1,239,059 | 249,670,389 | |||
Peabody Energy Corp. | 2,456,654 | 59,598,426 | |||
Phillips 66 | 1,290,755 | 210,831,922 | |||
Financials 23.8% | 3,528,615,553 | ||||
Banks 7.2% | |||||
Huntington Bancshares, Inc. | 10,421,743 | 145,383,315 | |||
JPMorgan Chase & Co. | 3,235,844 | 648,139,553 | |||
Wells Fargo & Company | 4,614,423 | 267,451,957 | |||
Capital markets 5.5% | |||||
Intercontinental Exchange, Inc. | 881,808 | 121,186,873 | |||
LPL Financial Holdings, Inc. | 262,425 | 69,332,685 | |||
Morgan Stanley | 3,315,675 | 312,203,954 | |||
The Charles Schwab Corp. | 2,135,423 | 154,476,500 | |||
The Goldman Sachs Group, Inc. | 378,862 | 158,246,869 | |||
Consumer finance 2.3% | |||||
American Express Company | 983,397 | 223,909,663 | |||
Discover Financial Services | 951,200 | 124,692,808 | |||
Financial services 6.4% | |||||
Berkshire Hathaway, Inc., Class B (A) | 1,253,762 | 527,231,996 | |||
Corpay, Inc. (A) | 498,387 | 153,772,325 | |||
Fidelity National Information Services, Inc. | 1,226,269 | 90,964,634 | |||
Global Payments, Inc. | 1,355,056 | 181,116,785 | |||
Insurance 2.4% | |||||
Aon PLC, Class A | 318,880 | 106,416,634 | |||
Arthur J. Gallagher & Company | 406,062 | 101,531,742 | |||
Chubb, Ltd. | 550,138 | 142,557,260 | |||
Health care 13.8% | 2,038,336,016 | ||||
Biotechnology 1.2% | |||||
Amgen, Inc. | 627,469 | 178,401,986 | |||
Health care equipment and supplies 1.3% | |||||
Abbott Laboratories | 1,744,947 | 198,330,676 | |||
Health care providers and services 6.2% | |||||
Cencora, Inc. | 867,989 | 210,912,647 | |||
Centene Corp. (A) | 2,097,934 | 164,645,860 | |||
McKesson Corp. | 326,965 | 175,531,160 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 11 |
Shares | Value | ||||
Health care (continued) | |||||
Health care providers and services (continued) | |||||
The Cigna Group | 523,822 | $190,246,912 | |||
UnitedHealth Group, Inc. | 341,961 | 169,168,107 | |||
Life sciences tools and services 2.4% | |||||
Avantor, Inc. (A) | 5,739,840 | 146,767,709 | |||
ICON PLC (A) | 606,923 | 203,895,782 | |||
Pharmaceuticals 2.7% | |||||
Bristol-Myers Squibb Company | 3,151,239 | 170,891,691 | |||
Sanofi SA, ADR | 4,723,117 | 229,543,486 | |||
Industrials 14.1% | 2,083,582,542 | ||||
Aerospace and defense 2.5% | |||||
General Dynamics Corp. | 812,269 | 229,457,870 | |||
Howmet Aerospace, Inc. | 2,026,869 | 138,698,646 | |||
Building products 1.9% | |||||
Allegion PLC | 723,177 | 97,419,174 | |||
Builders FirstSource, Inc. (A) | 357,987 | 74,658,189 | |||
Masco Corp. | 1,392,152 | 109,812,950 | |||
Construction and engineering 0.6% | |||||
WillScot Mobile Mini Holdings Corp. (A) | 1,960,454 | 91,161,111 | |||
Electrical equipment 0.9% | |||||
Atkore, Inc. | 14,580 | 2,775,449 | |||
Eaton Corp. PLC | 395,940 | 123,802,519 | |||
Ground transportation 1.1% | |||||
Norfolk Southern Corp. | 644,199 | 164,186,999 | |||
Machinery 2.9% | |||||
Deere & Company | 182,596 | 74,999,481 | |||
Dover Corp. | 396,210 | 70,204,450 | |||
Fortive Corp. | 1,712,454 | 147,305,293 | |||
Wabtec Corp. | 922,531 | 134,394,316 | |||
Professional services 2.0% | |||||
Jacobs Solutions, Inc. | 1,021,474 | 157,031,198 | |||
Leidos Holdings, Inc. | 1,068,813 | 140,110,696 | |||
Trading companies and distributors 2.2% | |||||
United Rentals, Inc. | 263,343 | 189,899,271 | |||
WESCO International, Inc. | 803,742 | 137,664,930 | |||
Information technology 12.2% | 1,814,712,932 | ||||
Electronic equipment, instruments and components 0.8% | |||||
Flex, Ltd. (A) | 2,829,318 | 80,946,788 | |||
Keysight Technologies, Inc. (A) | 251,322 | 39,301,734 | |||
IT services 0.8% | |||||
Cognizant Technology Solutions Corp., Class A | 1,604,544 | 117,597,030 |
12 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Information technology (continued) | |||||
Semiconductors and semiconductor equipment 6.6% | |||||
Advanced Micro Devices, Inc. (A) | 849,465 | $153,319,938 | |||
Applied Materials, Inc. | 946,496 | 195,195,870 | |||
Lam Research Corp. | 83,459 | 81,086,261 | |||
Microchip Technology, Inc. | 1,998,900 | 179,321,319 | |||
Micron Technology, Inc. | 2,045,595 | 241,155,195 | |||
NXP Semiconductors NV | 244,195 | 60,504,195 | |||
Qualcomm, Inc. | 413,264 | 69,965,595 | |||
Software 2.5% | |||||
Nice, Ltd., ADR (A) | 291,093 | 75,864,658 | |||
Oracle Corp. | 2,387,539 | 299,898,775 | |||
Technology hardware, storage and peripherals 1.5% | |||||
Dell Technologies, Inc., Class C | 1,932,833 | 220,555,574 | |||
Materials 2.8% | 417,924,837 | ||||
Chemicals 0.8% | |||||
DuPont de Nemours, Inc. | 807,123 | 61,882,120 | |||
Olin Corp. | 973,546 | 57,244,505 | |||
Construction materials 1.4% | |||||
CRH PLC (New York Stock Exchange) | 2,368,298 | 204,289,385 | |||
Metals and mining 0.6% | |||||
Teck Resources, Ltd., Class B (B) | 2,064,413 | 94,508,827 | |||
Utilities 1.1% | 165,767,776 | ||||
Electric utilities 0.7% | |||||
FirstEnergy Corp. | 2,689,970 | 103,886,641 | |||
Multi-utilities 0.4% | |||||
CenterPoint Energy, Inc. | 2,172,030 | 61,881,135 | |||
Yield (%) | Shares | Value | |||
Short-term investments 2.2% | $321,222,395 | ||||
(Cost $321,222,396) | |||||
Short-term funds 2.2% | 321,222,395 | ||||
John Hancock Collateral Trust (C) | 5.2975(D) | 352 | 3,521 | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 5.2417(D) | 321,218,874 | 321,218,874 |
Total investments (Cost $10,169,465,923) 99.9% | $14,797,287,158 | ||||
Other assets and liabilities, net 0.1% | 11,788,858 | ||||
Total net assets 100.0% | $14,809,076,016 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 13 |
Security Abbreviations and Legend | |
ADR | American Depositary Receipt |
(A) | Non-income producing security. |
(B) | All or a portion of this security is on loan as of 3-31-24. |
(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 3-31-24. |
14 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Assets | |
Unaffiliated investments, at value (Cost $10,169,462,401) including $3,426 of securities loaned | $14,797,283,637 |
Affiliated investments, at value (Cost $3,522) | 3,521 |
Total investments, at value (Cost $10,169,465,923) | 14,797,287,158 |
Cash | 3,265,959 |
Dividends and interest receivable | 17,263,476 |
Receivable for fund shares sold | 30,958,392 |
Receivable for investments sold | 29,383,224 |
Receivable for securities lending income | 1,642 |
Other assets | 985,173 |
Total assets | 14,879,145,024 |
Liabilities | |
Payable for investments purchased | 51,591,259 |
Payable for fund shares repurchased | 15,803,992 |
Payable upon return of securities loaned | 3,510 |
Payable to affiliates | |
Accounting and legal services fees | 845,597 |
Transfer agent fees | 873,302 |
Distribution and service fees | 18,228 |
Trustees’ fees | 24,093 |
Other liabilities and accrued expenses | 909,027 |
Total liabilities | 70,069,008 |
Net assets | $14,809,076,016 |
Net assets consist of | |
Paid-in capital | $9,772,169,049 |
Total distributable earnings (loss) | 5,036,906,967 |
Net assets | $14,809,076,016 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 15 |
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 ($1,381,835,353 ÷ 53,265,854 shares)1 | $25.94 |
Class C ($71,943,664 ÷ 3,044,065 shares)1 | $23.63 |
Class I ($7,296,682,136 ÷ 294,669,549 shares) | $24.76 |
Class R2 ($51,460,478 ÷ 2,082,273 shares) | $24.71 |
Class R4 ($55,036,866 ÷ 2,221,596 shares) | $24.77 |
Class R5 ($69,232,816 ÷ 2,787,364 shares) | $24.84 |
Class R6 ($4,729,643,909 ÷ 190,453,758 shares) | $24.83 |
Class NAV ($1,153,240,794 ÷ 46,416,476 shares) | $24.85 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $27.31 |
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 Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Investment income | |
Dividends | $234,350,848 |
Interest | 20,759 |
Securities lending | 295,733 |
Less foreign taxes withheld | (3,277,138) |
Total investment income | 231,390,202 |
Expenses | |
Investment management fees | 77,632,001 |
Distribution and service fees | 4,245,582 |
Accounting and legal services fees | 2,758,174 |
Transfer agent fees | 9,304,922 |
Trustees’ fees | 306,136 |
Custodian fees | 1,403,437 |
State registration fees | 267,871 |
Printing and postage | 826,983 |
Professional fees | 398,179 |
Other | 302,518 |
Total expenses | 97,445,803 |
Less expense reductions | (997,230) |
Net expenses | 96,448,573 |
Net investment income | 134,941,629 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | 920,593,650 |
Affiliated investments | 94 |
920,593,744 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | 2,180,314,759 |
Affiliated investments | (2,582) |
2,180,312,177 | |
Net realized and unrealized gain | 3,100,905,921 |
Increase in net assets from operations | $3,235,847,550 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 17 |
Year ended 3-31-24 | Year ended 3-31-23 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $134,941,629 | $160,529,940 |
Net realized gain | 920,593,744 | 412,758,623 |
Change in net unrealized appreciation (depreciation) | 2,180,312,177 | (1,257,795,403) |
Increase (decrease) in net assets resulting from operations | 3,235,847,550 | (684,506,840) |
Distributions to shareholders | ||
From earnings | ||
Class A | (79,181,804) | (74,200,652) |
Class C | (4,311,301) | (5,309,741) |
Class I | (438,742,065) | (389,166,210) |
Class R2 | (3,397,316) | (3,173,900) |
Class R4 | (4,001,056) | (3,287,805) |
Class R5 | (4,210,227) | (3,734,327) |
Class R6 | (276,975,481) | (268,993,677) |
Class NAV | (75,145,269) | (78,981,499) |
Total distributions | (885,964,519) | (826,847,811) |
From fund share transactions | 382,748,421 | 670,486,527 |
Total increase (decrease) | 2,732,631,452 | (840,868,124) |
Net assets | ||
Beginning of year | 12,076,444,564 | 12,917,312,688 |
End of year | $14,809,076,016 | $12,076,444,564 |
18 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS A SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $21.72 | $24.55 | $24.73 | $15.18 | $20.25 |
Net investment income1 | 0.18 | 0.24 | 0.15 | 0.18 | 0.30 |
Net realized and unrealized gain (loss) on investments | 5.59 | (1.63) | 3.04 | 9.65 | (4.20) |
Total from investment operations | 5.77 | (1.39) | 3.19 | 9.83 | (3.90) |
Less distributions | |||||
From net investment income | (0.19) | (0.23) | (0.16) | (0.28) | (0.25) |
From net realized gain | (1.36) | (1.21) | (3.21) | — | (0.92) |
Total distributions | (1.55) | (1.44) | (3.37) | (0.28) | (1.17) |
Net asset value, end of period | $25.94 | $21.72 | $24.55 | $24.73 | $15.18 |
Total return (%)2,3 | 27.42 | (5.60) | 13.42 | 65.19 | (20.99) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1,382 | $1,185 | $1,204 | $1,037 | $731 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.03 | 1.02 | 1.04 | 1.07 | 1.07 |
Expenses including reductions | 1.02 | 1.01 | 1.03 | 1.07 | 1.06 |
Net investment income | 0.79 | 1.04 | 0.60 | 0.94 | 1.44 |
Portfolio turnover (%) | 48 | 43 | 38 | 55 | 88 |
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 C SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $19.92 | $22.62 | $23.05 | $14.17 | $18.98 |
Net investment income (loss)1 | 0.01 | 0.06 | (0.04) | 0.03 | 0.13 |
Net realized and unrealized gain (loss) on investments | 5.08 | (1.49) | 2.82 | 9.00 | (3.92) |
Total from investment operations | 5.09 | (1.43) | 2.78 | 9.03 | (3.79) |
Less distributions | |||||
From net investment income | (0.02) | (0.06) | — | (0.15) | (0.10) |
From net realized gain | (1.36) | (1.21) | (3.21) | — | (0.92) |
Total distributions | (1.38) | (1.27) | (3.21) | (0.15) | (1.02) |
Net asset value, end of period | $23.63 | $19.92 | $22.62 | $23.05 | $14.17 |
Total return (%)2,3 | 26.40 | (6.26) | 12.56 | 63.90 | (21.51) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $72 | $79 | $116 | $135 | $140 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.78 | 1.77 | 1.79 | 1.82 | 1.82 |
Expenses including reductions | 1.77 | 1.76 | 1.78 | 1.82 | 1.81 |
Net investment income (loss) | 0.05 | 0.29 | (0.17) | 0.19 | 0.67 |
Portfolio turnover (%) | 48 | 43 | 38 | 55 | 88 |
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. |
20 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS I SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $20.80 | $23.57 | $23.86 | $14.65 | $19.58 |
Net investment income1 | 0.23 | 0.28 | 0.21 | 0.22 | 0.34 |
Net realized and unrealized gain (loss) on investments | 5.33 | (1.55) | 2.93 | 9.32 | (4.05) |
Total from investment operations | 5.56 | (1.27) | 3.14 | 9.54 | (3.71) |
Less distributions | |||||
From net investment income | (0.24) | (0.29) | (0.22) | (0.33) | (0.30) |
From net realized gain | (1.36) | (1.21) | (3.21) | — | (0.92) |
Total distributions | (1.60) | (1.50) | (3.43) | (0.33) | (1.22) |
Net asset value, end of period | $24.76 | $20.80 | $23.57 | $23.86 | $14.65 |
Total return (%)2 | 27.68 | (5.33) | 13.73 | 65.58 | (20.77) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $7,297 | $5,657 | $6,039 | $5,618 | $5,250 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.78 | 0.77 | 0.79 | 0.82 | 0.82 |
Expenses including reductions | 0.77 | 0.76 | 0.78 | 0.82 | 0.81 |
Net investment income | 1.04 | 1.29 | 0.84 | 1.18 | 1.69 |
Portfolio turnover (%) | 48 | 43 | 38 | 55 | 88 |
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 R2 SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $20.76 | $23.53 | $23.83 | $14.63 | $19.57 |
Net investment income1 | 0.15 | 0.20 | 0.11 | 0.15 | 0.23 |
Net realized and unrealized gain (loss) on investments | 5.32 | (1.56) | 2.93 | 9.31 | (4.03) |
Total from investment operations | 5.47 | (1.36) | 3.04 | 9.46 | (3.80) |
Less distributions | |||||
From net investment income | (0.16) | (0.20) | (0.13) | (0.26) | (0.22) |
From net realized gain | (1.36) | (1.21) | (3.21) | — | (0.92) |
Total distributions | (1.52) | (1.41) | (3.34) | (0.26) | (1.14) |
Net asset value, end of period | $24.71 | $20.76 | $23.53 | $23.83 | $14.63 |
Total return (%)2 | 27.22 | (5.73) | 13.28 | 64.94 | (21.08) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $51 | $50 | $55 | $55 | $42 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.17 | 1.16 | 1.18 | 1.21 | 1.21 |
Expenses including reductions | 1.16 | 1.15 | 1.17 | 1.20 | 1.20 |
Net investment income | 0.66 | 0.90 | 0.43 | 0.80 | 1.17 |
Portfolio turnover (%) | 48 | 43 | 38 | 55 | 88 |
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 R4 SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $20.80 | $23.58 | $23.87 | $14.65 | $19.59 |
Net investment income1 | 0.20 | 0.25 | 0.17 | 0.20 | 0.30 |
Net realized and unrealized gain (loss) on investments | 5.34 | (1.57) | 2.94 | 9.32 | (4.05) |
Total from investment operations | 5.54 | (1.32) | 3.11 | 9.52 | (3.75) |
Less distributions | |||||
From net investment income | (0.21) | (0.25) | (0.19) | (0.30) | (0.27) |
From net realized gain | (1.36) | (1.21) | (3.21) | — | (0.92) |
Total distributions | (1.57) | (1.46) | (3.40) | (0.30) | (1.19) |
Net asset value, end of period | $24.77 | $20.80 | $23.58 | $23.87 | $14.65 |
Total return (%)2 | 27.56 | (5.52) | 13.58 | 65.34 | (20.87) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $55 | $49 | $62 | $62 | $74 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.01 | 1.01 | 1.03 | 1.06 | 1.06 |
Expenses including reductions | 0.91 | 0.90 | 0.92 | 0.95 | 0.95 |
Net investment income | 0.90 | 1.14 | 0.70 | 1.06 | 1.50 |
Portfolio turnover (%) | 48 | 43 | 38 | 55 | 88 |
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 R5 SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $20.85 | $23.63 | $23.91 | $14.67 | $19.62 |
Net investment income1 | 0.25 | 0.29 | 0.23 | 0.23 | 0.34 |
Net realized and unrealized gain (loss) on investments | 5.35 | (1.56) | 2.94 | 9.35 | (4.06) |
Total from investment operations | 5.60 | (1.27) | 3.17 | 9.58 | (3.72) |
Less distributions | |||||
From net investment income | (0.25) | (0.30) | (0.24) | (0.34) | (0.31) |
From net realized gain | (1.36) | (1.21) | (3.21) | — | (0.92) |
Total distributions | (1.61) | (1.51) | (3.45) | (0.34) | (1.23) |
Net asset value, end of period | $24.84 | $20.85 | $23.63 | $23.91 | $14.67 |
Total return (%)2 | 27.81 | (5.31) | 13.82 | 65.67 | (20.74) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $69 | $59 | $60 | $40 | $61 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.71 | 0.71 | 0.73 | 0.76 | 0.76 |
Expenses including reductions | 0.71 | 0.71 | 0.72 | 0.75 | 0.75 |
Net investment income | 1.11 | 1.35 | 0.93 | 1.24 | 1.70 |
Portfolio turnover (%) | 48 | 43 | 38 | 55 | 88 |
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 R6 SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $20.85 | $23.62 | $23.91 | $14.67 | $19.61 |
Net investment income1 | 0.26 | 0.31 | 0.24 | 0.24 | 0.36 |
Net realized and unrealized gain (loss) on investments | 5.34 | (1.56) | 2.93 | 9.35 | (4.06) |
Total from investment operations | 5.60 | (1.25) | 3.17 | 9.59 | (3.70) |
Less distributions | |||||
From net investment income | (0.26) | (0.31) | (0.25) | (0.35) | (0.32) |
From net realized gain | (1.36) | (1.21) | (3.21) | — | (0.92) |
Total distributions | (1.62) | (1.52) | (3.46) | (0.35) | (1.24) |
Net asset value, end of period | $24.83 | $20.85 | $23.62 | $23.91 | $14.67 |
Total return (%)2 | 27.82 | (5.22) | 13.82 | 65.74 | (20.66) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $4,730 | $3,846 | $4,009 | $3,844 | $3,369 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.66 | 0.66 | 0.68 | 0.71 | 0.71 |
Expenses including reductions | 0.66 | 0.66 | 0.68 | 0.71 | 0.70 |
Net investment income | 1.16 | 1.40 | 0.95 | 1.30 | 1.81 |
Portfolio turnover (%) | 48 | 43 | 38 | 55 | 88 |
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 |
CLASS NAV SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $20.86 | $23.63 | $23.92 | $14.68 | $19.62 |
Net investment income1 | 0.26 | 0.31 | 0.24 | 0.25 | 0.36 |
Net realized and unrealized gain (loss) on investments | 5.36 | (1.56) | 2.93 | 9.34 | (4.06) |
Total from investment operations | 5.62 | (1.25) | 3.17 | 9.59 | (3.70) |
Less distributions | |||||
From net investment income | (0.27) | (0.31) | (0.25) | (0.35) | (0.32) |
From net realized gain | (1.36) | (1.21) | (3.21) | — | (0.92) |
Total distributions | (1.63) | (1.52) | (3.46) | (0.35) | (1.24) |
Net asset value, end of period | $24.85 | $20.86 | $23.63 | $23.92 | $14.68 |
Total return (%)2 | 27.87 | (5.20) | 13.83 | 65.71 | (20.64) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1,153 | $1,151 | $1,372 | $1,486 | $887 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.66 | 0.65 | 0.68 | 0.70 | 0.70 |
Expenses including reductions | 0.65 | 0.65 | 0.67 | 0.70 | 0.69 |
Net investment income | 1.17 | 1.40 | 0.95 | 1.31 | 1.83 |
Portfolio turnover (%) | 48 | 43 | 38 | 55 | 88 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
26 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 27 |
28 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 29 |
March 31, 2024 | March 31, 2023 | |
Ordinary income | $149,530,418 | $176,286,115 |
Long-term capital gains | 736,434,101 | 650,561,696 |
Total | $885,964,519 | $826,847,811 |
30 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT |
Class | Expense reduction |
Class A | $91,040 |
Class C | 5,317 |
Class I | 459,602 |
Class R2 | 3,736 |
Class R4 | 3,817 |
Class | Expense reduction |
Class R5 | $4,577 |
Class R6 | 294,940 |
Class NAV | 82,723 |
Total | $945,752 |
Class | Rule 12b-1 Fee | Service fee |
Class A | 0.30% | — |
Class C | 1.00% | — |
Class R2 | 0.25% | 0.25% |
Class R4 | 0.25% | 0.10% |
Class R5 | — | 0.05% |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 31 |
Class | Distribution and service fees | Transfer agent fees |
Class A | $3,064,425 | $1,490,186 |
Class C | 717,944 | 87,329 |
Class I | — | 7,513,943 |
Class R2 | 252,151 | 2,611 |
Class R4 | 180,173 | 2,672 |
Class R5 | 30,889 | 3,185 |
Class R6 | — | 204,996 |
Total | $4,245,582 | $9,304,922 |
32 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Borrower | $26,750,000 | 2 | 5.800% | $(8,619) |
Lender | $21,483,333 | 6 | 5.798% | $20,758 |
Year Ended 3-31-24 | Year Ended 3-31-23 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 7,701,646 | $177,238,073 | 11,487,537 | $260,789,383 |
Distributions reinvested | 3,177,329 | 73,491,614 | 3,232,754 | 69,439,558 |
Repurchased | (12,138,567) | (279,426,771) | (9,230,692) | (208,120,479) |
Net increase (decrease) | (1,259,592) | $(28,697,084) | 5,489,599 | $122,108,462 |
Class C shares | ||||
Sold | 445,236 | $9,455,571 | 540,145 | $11,257,476 |
Distributions reinvested | 195,360 | 4,126,012 | 255,062 | 5,034,920 |
Repurchased | (1,572,352) | (33,160,619) | (1,952,915) | (40,475,652) |
Net decrease | (931,756) | $(19,579,036) | (1,157,708) | $(24,183,256) |
Class I shares | ||||
Sold | 74,387,539 | $1,639,043,358 | 78,536,957 | $1,698,598,666 |
Distributions reinvested | 15,762,790 | 347,727,141 | 14,783,198 | 303,794,722 |
Repurchased | (67,536,279) | (1,494,368,091) | (77,508,306) | (1,673,382,213) |
Net increase | 22,614,050 | $492,402,408 | 15,811,849 | $329,011,175 |
Class R2 shares | ||||
Sold | 298,123 | $6,558,945 | 350,725 | $7,554,442 |
Distributions reinvested | 129,113 | 2,845,651 | 130,818 | 2,686,996 |
Repurchased | (735,815) | (16,386,370) | (415,824) | (8,986,710) |
Net increase (decrease) | (308,579) | $(6,981,774) | 65,719 | $1,254,728 |
Class R4 shares | ||||
Sold | 1,084,023 | $24,168,781 | 365,406 | $7,960,704 |
Distributions reinvested | 181,207 | 4,001,056 | 159,835 | 3,287,805 |
Repurchased | (1,397,159) | (30,814,689) | (783,372) | (17,255,440) |
Net decrease | (131,929) | $(2,644,852) | (258,131) | $(6,006,931) |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 33 |
Year Ended 3-31-24 | Year Ended 3-31-23 | |||
Shares | Amount | Shares | Amount | |
Class R5 shares | ||||
Sold | 479,056 | $10,591,023 | 605,864 | $13,215,144 |
Distributions reinvested | 190,250 | 4,210,227 | 180,756 | 3,723,568 |
Repurchased | (708,946) | (15,847,525) | (506,554) | (11,099,083) |
Net increase (decrease) | (39,640) | $(1,046,275) | 280,066 | $5,839,629 |
Class R6 shares | ||||
Sold | 31,623,440 | $707,254,296 | 38,201,528 | $836,424,332 |
Distributions reinvested | 11,472,678 | 253,775,634 | 11,897,340 | 244,966,235 |
Repurchased | (37,152,114) | (813,365,542) | (35,301,198) | (766,137,436) |
Net increase | 5,944,004 | $147,664,388 | 14,797,670 | $315,253,131 |
Class NAV shares | ||||
Sold | 2,539,652 | $54,831,789 | 2,897,018 | $61,504,415 |
Distributions reinvested | 3,395,629 | 75,145,269 | 3,834,053 | 78,981,499 |
Repurchased | (14,724,318) | (328,346,412) | (9,597,497) | (213,276,325) |
Net decrease | (8,789,037) | $(198,369,354) | (2,866,426) | $(72,790,411) |
Total net increase | 17,097,521 | $382,748,421 | 32,162,638 | $670,486,527 |
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* | 352 | $7,490,790 | $714,569,241 | $(722,054,022) | $94 | $(2,582) | $295,733 | — | $3,521 |
34 | JOHN HANCOCK Disciplined Value Fund | ANNUAL REPORT |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Fund | 35 |
36 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 37 |
• | The Fund’s investment strategy remained appropriate for an open-end fund structure; |
• | The Fund was able to meet requests for redemption without significant dilution of remaining shareholders’ interests in the Fund; |
38 | JOHN HANCOCK DISCIPLINED VALUE 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 DISCIPLINED VALUE FUND | 39 |
Independent Trustees | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Hassell H. McClellan,2 Born: 1945 | 2012 | 183 |
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 | 178 |
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,3 Born: 1944 | 2006 | 180 |
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 | 178 |
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 (2021–2023), Board Member, Congressional Black Caucus Foundation (since 2024). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | ||
Grace K. Fey, Born: 1946 | 2012 | 183 |
Trustee | ||
Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
40 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
Independent Trustees (continued) | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Dean C. Garfield, Born: 1968 | 2022 | 178 |
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); Advisory Board Member of the Block Center for Technology and Society (since 2019). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | ||
Deborah C. Jackson, Born: 1952 | 2008 | 181 |
Trustee | ||
President, Cambridge College, Cambridge, Massachusetts (2011-2023); 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). | ||
Steven R. Pruchansky, Born: 1944 | 2006 | 178 |
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,3 Born: 1960 | 2020 | 178 |
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 | 178 |
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 DISCIPLINED VALUE FUND | 41 |
Non-Independent Trustees4 | ||
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 | 180 |
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 (2018-2023); Director and Chairman, John Hancock Investment Management LLC (2005-2023, including prior positions); Director and Chairman, John Hancock Variable Trust Advisers LLC (2006-2023, including prior positions); Director and Chairman, John Hancock Investment Management Distributors LLC (2004-2023, including prior positions); President of various trusts within the John Hancock Fund Complex (2007-2023, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | ||
Paul Lorentz, Born: 1968 | 2022 | 178 |
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 |
Kristie M. Feinberg, Born: 1975 | 2023 |
President | |
Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2023); Director and Chairman, John Hancock Investment Management LLC (since 2023); Director and Chairman, John Hancock Variable Trust Advisers LLC (since 2023); Director and Chairman, John Hancock Investment Management Distributors LLC (since 2023); CFO and Global Head of Strategy, Manulife Investment Management (2021-2023, including prior positions); CFO Americas & Global Head of Treasury, Invesco, Ltd., Invesco US (2019-2020, including prior positions); Senior Vice President, Corporate Treasurer and Business Controller, Oppenheimer Funds (2001-2019, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2023). | |
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). |
42 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
Principal officers who are not Trustees (continued) | |
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years | 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 as of September 26, 2023. |
3 | Member of the Audit Committee. |
4 | The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates. |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 43 |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
William H. Cunningham*
Noni L. Ellison
Grace K. Fey
Dean C. Garfield
Deborah C. Jackson
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 C. White, CFA
You can also contact us: | ||
800-225-5291 | Regular mail: | Express mail: |
jhinvestments.com | John Hancock Signature Services, Inc. P.O. Box 219909 Kansas City, MO 64121-9909 | John Hancock Signature Services, Inc. 430 W 7th Street Suite 219909 Kansas City, MO 64105-1407 |
44 | JOHN HANCOCK DISCIPLINED VALUE FUND | ANNUAL REPORT |
GOVERNANCE FUNDS
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
MF3506271 | 340A 3/24 |
United States and Europe
Manulife Investment Management
John Hancock Investment Management
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 3/31/2024 (% of net assets) | |
Ameriprise Financial, Inc. | 2.1 |
Parker-Hannifin Corp. | 2.0 |
AMETEK, Inc. | 1.6 |
AutoZone, Inc. | 1.5 |
Textron, Inc. | 1.5 |
ICON PLC | 1.4 |
Howmet Aerospace, Inc. | 1.4 |
Cencora, Inc. | 1.3 |
Fifth Third Bancorp | 1.3 |
Check Point Software Technologies, Ltd. | 1.2 |
TOTAL | 15.3 |
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 | 18.90 | 11.31 | 9.27 | 70.90 | 142.77 |
Class C | 23.19 | 11.62 | 9.01 | 73.24 | 137.02 |
Class I1 | 25.46 | 12.74 | 10.12 | 82.16 | 162.12 |
Class R21 | 24.93 | 12.29 | 9.68 | 78.56 | 151.93 |
Class R41 | 25.25 | 12.57 | 9.95 | 80.79 | 158.22 |
Class R61 | 25.59 | 12.86 | 10.23 | 83.10 | 164.76 |
Index† | 20.40 | 9.94 | 8.57 | 60.59 | 127.53 |
Class A | Class C | Class I | Class R2 | Class R4 | Class R6 | |
Gross (%) | 1.12 | 1.87 | 0.87 | 1.26 | 1.11 | 0.76 |
Net (%) | 1.11 | 1.86 | 0.86 | 1.25 | 1.00 | 0.75 |
6 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT |
Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class C2 | 3-31-14 | 23,702 | 23,702 | 22,753 |
Class I1 | 3-31-14 | 26,212 | 26,212 | 22,753 |
Class R21 | 3-31-14 | 25,193 | 25,193 | 22,753 |
Class R41 | 3-31-14 | 25,822 | 25,822 | 22,753 |
Class R61 | 3-31-14 | 26,476 | 26,476 | 22,753 |
1 | For certain types of investors, as described in the fund’s prospectus. |
2 | 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 10-1-2023 | Ending value on 3-31-2024 | Expenses paid during period ended 3-31-20241 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,217.00 | $6.21 | 1.12% |
Hypothetical example | 1,000.00 | 1,019.40 | 5.65 | 1.12% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,212.40 | 10.34 | 1.87% |
Hypothetical example | 1,000.00 | 1,015.70 | 9.42 | 1.87% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,218.20 | 4.82 | 0.87% |
Hypothetical example | 1,000.00 | 1,020.70 | 4.40 | 0.87% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 1,215.80 | 6.92 | 1.25% |
Hypothetical example | 1,000.00 | 1,018.80 | 6.31 | 1.25% | |
Class R4 | Actual expenses/actual returns | 1,000.00 | 1,217.50 | 5.54 | 1.00% |
Hypothetical example | 1,000.00 | 1,020.00 | 5.05 | 1.00% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,219.00 | 4.16 | 0.75% |
Hypothetical example | 1,000.00 | 1,021.30 | 3.79 | 0.75% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period). |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 9 |
Shares | Value | ||||
Common stocks 98.8% | $23,138,921,629 | ||||
(Cost $15,656,859,621) | |||||
Communication services 1.0% | 224,644,696 | ||||
Entertainment 0.6% | |||||
Take-Two Interactive Software, Inc. (A) | 991,087 | 147,166,509 | |||
Interactive media and services 0.4% | |||||
TripAdvisor, Inc. (A) | 2,787,988 | 77,478,187 | |||
Consumer discretionary 12.5% | 2,917,157,316 | ||||
Automobile components 1.1% | |||||
Gentex Corp. | 4,248,684 | 153,462,466 | |||
Lear Corp. | 763,049 | 110,550,539 | |||
Automobiles 0.6% | |||||
Harley-Davidson, Inc. | 3,081,449 | 134,782,579 | |||
Broadline retail 0.3% | |||||
eBay, Inc. | 1,478,678 | 78,044,625 | |||
Distributors 0.8% | |||||
LKQ Corp. | 3,458,367 | 184,711,381 | |||
Diversified consumer services 1.0% | |||||
frontdoor, Inc. (A) | 3,536,561 | 115,221,157 | |||
H&R Block, Inc. | 2,436,389 | 119,651,064 | |||
Hotels, restaurants and leisure 3.3% | |||||
Boyd Gaming Corp. | 1,857,966 | 125,078,271 | |||
Churchill Downs, Inc. | 631,115 | 78,100,481 | |||
Darden Restaurants, Inc. | 630,639 | 105,411,309 | |||
Expedia Group, Inc. (A) | 1,309,654 | 180,404,839 | |||
Marriott International, Inc., Class A | 514,473 | 129,806,683 | |||
Wyndham Hotels & Resorts, Inc. | 1,824,258 | 140,011,802 | |||
Household durables 2.2% | |||||
Garmin, Ltd. | 1,055,027 | 157,061,869 | |||
NVR, Inc. (A) | 17,309 | 140,202,208 | |||
Tempur Sealy International, Inc. | 3,630,738 | 206,298,533 | |||
Specialty retail 2.5% | |||||
AutoZone, Inc. (A) | 114,017 | 359,341,678 | |||
Ross Stores, Inc. | 1,579,004 | 231,734,627 | |||
Textiles, apparel and luxury goods 0.7% | |||||
Ralph Lauren Corp. | 890,931 | 167,281,205 | |||
Consumer staples 2.3% | 548,105,705 | ||||
Beverages 1.3% | |||||
Coca-Cola Europacific Partners PLC | 1,651,224 | 115,503,119 | |||
Constellation Brands, Inc., Class A | 718,143 | 195,162,542 |
10 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Consumer staples (continued) | |||||
Consumer staples distribution and retail 1.0% | |||||
U.S. Foods Holding Corp. (A) | 4,399,482 | $237,440,044 | |||
Energy 5.8% | 1,362,491,714 | ||||
Energy equipment and services 2.4% | |||||
Halliburton Company | 6,367,663 | 251,013,275 | |||
Tidewater, Inc. (A) | 1,329,176 | 122,284,192 | |||
Weatherford International PLC (A) | 1,585,189 | 182,962,514 | |||
Oil, gas and consumable fuels 3.4% | |||||
Chord Energy Corp. | 689,916 | 122,970,628 | |||
Diamondback Energy, Inc. | 801,878 | 158,908,163 | |||
EQT Corp. | 2,862,245 | 106,103,422 | |||
Phillips 66 | 1,568,604 | 256,215,777 | |||
Range Resources Corp. | 4,706,179 | 162,033,743 | |||
Financials 15.5% | 3,634,869,434 | ||||
Banks 2.9% | |||||
East West Bancorp, Inc. | 1,190,938 | 94,215,105 | |||
Fifth Third Bancorp | 8,414,470 | 313,102,429 | |||
Huntington Bancshares, Inc. | 19,521,820 | 272,329,389 | |||
Capital markets 5.1% | |||||
Ameriprise Financial, Inc. | 1,143,045 | 501,156,650 | |||
Ares Management Corp., Class A | 1,460,174 | 194,173,939 | |||
Evercore, Inc., Class A | 959,965 | 184,879,659 | |||
LPL Financial Holdings, Inc. | 856,350 | 226,247,670 | |||
The Carlyle Group, Inc. | 1,733,971 | 81,340,580 | |||
Consumer finance 2.2% | |||||
Ally Financial, Inc. | 2,790,619 | 113,271,225 | |||
Discover Financial Services | 892,552 | 117,004,642 | |||
SLM Corp. | 5,348,943 | 116,553,468 | |||
Synchrony Financial | 3,971,974 | 171,271,519 | |||
Financial services 1.2% | |||||
Global Payments, Inc. | 532,465 | 71,169,272 | |||
Rocket Companies, Inc., Class A (A)(B)(C) | 6,992,491 | 101,740,744 | |||
Voya Financial, Inc. | 1,486,560 | 109,886,515 | |||
Insurance 4.1% | |||||
Arthur J. Gallagher & Company | 532,464 | 133,137,299 | |||
Everest Group, Ltd. | 411,302 | 163,492,545 | |||
First American Financial Corp. | 2,779,007 | 169,658,377 | |||
Globe Life, Inc. | 1,160,108 | 135,001,768 | |||
Markel Group, Inc. (A) | 95,973 | 146,021,000 | |||
RenaissanceRe Holdings, Ltd. | 226,736 | 53,289,762 | |||
The Travelers Companies, Inc. | 720,978 | 165,925,877 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 11 |
Shares | Value | ||||
Health care 6.5% | $1,524,545,150 | ||||
Health care equipment and supplies 0.9% | |||||
Zimmer Biomet Holdings, Inc. | 1,501,414 | 198,156,620 | |||
Health care providers and services 2.9% | |||||
Cencora, Inc. | 1,298,342 | 315,484,123 | |||
Centene Corp. (A) | 1,635,023 | 128,316,605 | |||
Molina Healthcare, Inc. (A) | 591,498 | 243,005,123 | |||
Life sciences tools and services 2.7% | |||||
Avantor, Inc. (A) | 8,898,951 | 227,546,177 | |||
Fortrea Holdings, Inc. (A) | 2,140,611 | 85,924,126 | |||
ICON PLC (A) | 970,717 | 326,112,376 | |||
Industrials 25.5% | 5,976,836,450 | ||||
Aerospace and defense 5.3% | |||||
BWX Technologies, Inc. | 1,770,977 | 181,737,660 | |||
Curtiss-Wright Corp. | 893,743 | 228,744,583 | |||
Howmet Aerospace, Inc. | 4,700,281 | 321,640,229 | |||
L3Harris Technologies, Inc. | 735,036 | 156,636,172 | |||
Textron, Inc. | 3,636,150 | 348,815,870 | |||
Air freight and logistics 0.8% | |||||
Expeditors International of Washington, Inc. | 1,590,320 | 193,335,202 | |||
Building products 3.4% | |||||
Advanced Drainage Systems, Inc. | 947,852 | 163,258,028 | |||
Allegion PLC | 1,611,824 | 217,128,811 | |||
Builders FirstSource, Inc. (A) | 387,891 | 80,894,668 | |||
Masco Corp. | 3,137,425 | 247,480,084 | |||
Resideo Technologies, Inc. (A) | 4,264,960 | 95,620,403 | |||
Commercial services and supplies 0.7% | |||||
RB Global, Inc. | 2,256,326 | 171,864,351 | |||
Electrical equipment 3.4% | |||||
AMETEK, Inc. | 2,004,843 | 366,685,785 | |||
Atkore, Inc. | 752,155 | 143,180,226 | |||
Eaton Corp. PLC | 315,462 | 98,638,658 | |||
nVent Electric PLC | 2,462,861 | 185,699,719 | |||
Ground transportation 1.9% | |||||
Landstar System, Inc. | 873,390 | 168,354,656 | |||
Norfolk Southern Corp. | 1,111,165 | 283,202,624 | |||
Machinery 4.9% | |||||
Dover Corp. | 1,599,318 | 283,383,156 | |||
Fortive Corp. | 2,017,020 | 173,504,060 | |||
ITT, Inc. | 640,239 | 87,091,711 | |||
Otis Worldwide Corp. | 1,479,308 | 146,850,905 | |||
Parker-Hannifin Corp. | 825,859 | 459,004,173 |
12 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Industrials (continued) | |||||
Passenger airlines 0.6% | |||||
Alaska Air Group, Inc. (A) | 2,944,964 | $126,604,002 | |||
Professional services 3.6% | |||||
ASGN, Inc. (A) | 753,146 | 78,899,575 | |||
Equifax, Inc. | 486,346 | 130,107,282 | |||
Jacobs Solutions, Inc. | 864,059 | 132,831,790 | |||
Leidos Holdings, Inc. | 721,440 | 94,573,570 | |||
Robert Half, Inc. | 2,158,004 | 171,086,557 | |||
Science Applications International Corp. | 1,206,439 | 157,307,581 | |||
TransUnion | 818,912 | 65,349,178 | |||
Trading companies and distributors 0.9% | |||||
Ferguson PLC | 994,942 | 217,325,181 | |||
Information technology 9.8% | 2,294,142,448 | ||||
Electronic equipment, instruments and components 3.5% | |||||
Arrow Electronics, Inc. (A) | 323,852 | 41,925,880 | |||
CDW Corp. | 407,412 | 104,207,841 | |||
Flex, Ltd. (A) | 6,789,744 | 194,254,576 | |||
Keysight Technologies, Inc. (A) | 400,304 | 62,599,540 | |||
TE Connectivity, Ltd. | 1,134,171 | 164,726,996 | |||
Zebra Technologies Corp., Class A (A) | 818,363 | 246,687,343 | |||
IT services 0.7% | |||||
Cognizant Technology Solutions Corp., Class A | 2,087,702 | 153,007,680 | |||
Semiconductors and semiconductor equipment 2.3% | |||||
Microchip Technology, Inc. | 1,419,053 | 127,303,245 | |||
NXP Semiconductors NV | 367,539 | 91,065,138 | |||
Qorvo, Inc. (A) | 806,633 | 92,625,667 | |||
Teradyne, Inc. | 1,975,686 | 222,916,651 | |||
Software 1.9% | |||||
Check Point Software Technologies, Ltd. (A) | 1,745,679 | 286,308,813 | |||
Gen Digital, Inc. | 7,477,151 | 167,488,182 | |||
Technology hardware, storage and peripherals 1.4% | |||||
Dell Technologies, Inc., Class C | 2,131,687 | 243,246,804 | |||
NetApp, Inc. | 912,433 | 95,778,092 | |||
Materials 7.7% | 1,802,096,035 | ||||
Chemicals 3.5% | |||||
CF Industries Holdings, Inc. | 2,284,244 | 190,071,943 | |||
Corteva, Inc. | 2,229,803 | 128,592,739 | |||
DuPont de Nemours, Inc. | 1,793,678 | 137,521,292 | |||
Olin Corp. | 2,446,027 | 143,826,388 | |||
PPG Industries, Inc. | 1,267,208 | 183,618,439 | |||
The Mosaic Company | 936,297 | 30,265,177 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 13 |
Shares | Value | ||||
Materials (continued) | |||||
Containers and packaging 2.5% | |||||
Avery Dennison Corp. | 759,371 | $169,529,576 | |||
Ball Corp. | 3,023,777 | 203,681,619 | |||
Packaging Corp. of America | 1,078,055 | 204,593,278 | |||
Metals and mining 1.7% | |||||
Commercial Metals Company | 2,280,615 | 134,031,744 | |||
Freeport-McMoRan, Inc. | 4,133,643 | 194,363,894 | |||
Teck Resources, Ltd., Class B | 1,791,174 | 81,999,946 | |||
Real estate 7.9% | 1,856,792,493 | ||||
Health care REITs 0.4% | |||||
Welltower, Inc. | 981,636 | 91,724,068 | |||
Industrial REITs 1.0% | |||||
EastGroup Properties, Inc. | 709,647 | 127,573,241 | |||
Rexford Industrial Realty, Inc. | 2,155,321 | 108,412,646 | |||
Residential REITs 2.4% | |||||
American Homes 4 Rent, Class A | 2,166,966 | 79,701,009 | |||
Equity LifeStyle Properties, Inc. | 2,110,337 | 135,905,703 | |||
Equity Residential | 2,021,780 | 127,594,536 | |||
Essex Property Trust, Inc. | 523,976 | 128,274,565 | |||
Invitation Homes, Inc. | 2,399,486 | 85,445,696 | |||
Retail REITs 1.9% | |||||
Regency Centers Corp. | 3,099,726 | 187,719,407 | |||
Simon Property Group, Inc. | 1,726,409 | 270,165,744 | |||
Specialized REITs 2.2% | |||||
Extra Space Storage, Inc. | 650,460 | 95,617,620 | |||
Lamar Advertising Company, Class A | 1,917,384 | 228,954,823 | |||
VICI Properties, Inc. | 6,368,024 | 189,703,435 | |||
Utilities 4.3% | 997,240,188 | ||||
Electric utilities 2.3% | |||||
American Electric Power Company, Inc. | 1,823,920 | 157,039,512 | |||
Entergy Corp. | 1,684,534 | 178,021,553 | |||
FirstEnergy Corp. | 2,695,783 | 104,111,139 | |||
OGE Energy Corp. | 2,851,601 | 97,809,914 | |||
Multi-utilities 2.0% | |||||
CenterPoint Energy, Inc. | 9,489,302 | 270,350,214 | |||
DTE Energy Company | 1,693,489 | 189,907,856 | |||
14 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Yield (%) | Shares | Value | |||
Short-term investments 1.7% | $394,420,998 | ||||
(Cost $394,421,628) | |||||
Short-term funds 1.7% | 394,420,998 | ||||
John Hancock Collateral Trust (D) | 5.2975(E) | 229,030 | 2,289,707 | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 5.2417(E) | 392,131,291 | 392,131,291 |
Total investments (Cost $16,051,281,249) 100.5% | $23,533,342,627 | ||||
Other assets and liabilities, net (0.5%) | (109,075,894) | ||||
Total net assets 100.0% | $23,424,266,733 |
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 fund owns 5% or more of the outstanding voting shares of the issuer and the security is considered an affiliate of the fund. For more information on this security refer to the Notes to financial statements. |
(C) | All or a portion of this security is on loan as of 3-31-24. |
(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 3-31-24. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 15 |
Assets | |
Unaffiliated investments, at value (Cost $15,981,178,803) including $2,217,554 of securities loaned | $23,429,312,176 |
Affiliated investments, at value (Cost $70,102,446) | 104,030,451 |
Total investments, at value (Cost $16,051,281,249) | 23,533,342,627 |
Cash | 1,324,938 |
Dividends and interest receivable | 34,437,799 |
Receivable for fund shares sold | 32,617,090 |
Receivable for securities lending income | 4,004 |
Other assets | 1,670,303 |
Total assets | 23,603,396,761 |
Liabilities | |
Payable for investments purchased | 149,438,897 |
Payable for fund shares repurchased | 22,854,505 |
Payable upon return of securities loaned | 2,283,000 |
Payable to affiliates | |
Accounting and legal services fees | 1,339,356 |
Transfer agent fees | 1,626,402 |
Distribution and service fees | 31,717 |
Trustees’ fees | 38,105 |
Other liabilities and accrued expenses | 1,518,046 |
Total liabilities | 179,130,028 |
Net assets | $23,424,266,733 |
Net assets consist of | |
Paid-in capital | $15,015,945,799 |
Total distributable earnings (loss) | 8,408,320,934 |
Net assets | $23,424,266,733 |
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 ($1,509,663,586 ÷ 53,297,680 shares)1 | $28.33 |
Class C ($62,600,090 ÷ 2,220,086 shares)1 | $28.20 |
Class I ($14,709,275,786 ÷ 492,659,047 shares) | $29.86 |
Class R2 ($51,577,995 ÷ 1,737,025 shares) | $29.69 |
Class R4 ($250,474,074 ÷ 8,401,425 shares) | $29.81 |
Class R6 ($6,840,675,202 ÷ 229,136,449 shares) | $29.85 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $29.82 |
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 | $371,752,383 |
Interest | 9,138 |
Securities lending | 1,343,210 |
Less foreign taxes withheld | (1,184,738) |
Total investment income | 371,919,993 |
Expenses | |
Investment management fees | 146,011,897 |
Distribution and service fees | 5,017,694 |
Accounting and legal services fees | 4,398,531 |
Transfer agent fees | 18,036,843 |
Trustees’ fees | 497,918 |
Custodian fees | 2,247,464 |
State registration fees | 351,917 |
Printing and postage | 1,387,280 |
Professional fees | 621,706 |
Other | 460,383 |
Total expenses | 179,031,633 |
Less expense reductions | (1,725,039) |
Net expenses | 177,306,594 |
Net investment income | 194,613,399 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | 1,629,331,765 |
Affiliated investments | 346,376 |
1,629,678,141 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments | 2,975,246,785 |
Affiliated investments | 33,928,005 |
3,009,174,790 | |
Net realized and unrealized gain | 4,638,852,931 |
Increase in net assets from operations | $4,833,466,330 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Disciplined Value Mid Cap Fund | 17 |
Year ended 3-31-24 | Year ended 3-31-23 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $194,613,399 | $212,538,216 |
Net realized gain | 1,629,678,141 | 448,458,865 |
Change in net unrealized appreciation (depreciation) | 3,009,174,790 | (1,813,904,818) |
Increase (decrease) in net assets resulting from operations | 4,833,466,330 | (1,152,907,737) |
Distributions to shareholders | ||
From earnings | ||
Class A | (54,495,649) | (68,491,079) |
Class C | (1,841,701) | (2,338,456) |
Class I | (538,274,218) | (658,888,932) |
Class R2 | (1,795,176) | (4,080,287) |
Class R4 | (8,373,414) | (6,150,289) |
Class R6 | (248,359,399) | (236,898,601) |
Total distributions | (853,139,557) | (976,847,644) |
From fund share transactions | (276,872,884) | 445,042,085 |
Total increase (decrease) | 3,703,453,889 | (1,684,713,296) |
Net assets | ||
Beginning of year | 19,720,812,844 | 21,405,526,140 |
End of year | $23,424,266,733 | $19,720,812,844 |
18 | JOHN HANCOCK Disciplined Value Mid Cap Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS A SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.54 | $26.25 | $25.33 | $14.91 | $19.08 |
Net investment income1 | 0.17 | 0.20 | 0.09 | 0.10 | 0.14 |
Net realized and unrealized gain (loss) on investments | 5.66 | (1.69) | 2.60 | 10.54 | (3.83) |
Total from investment operations | 5.83 | (1.49) | 2.69 | 10.64 | (3.69) |
Less distributions | |||||
From net investment income | (0.20) | (0.19) | (0.07) | (0.14) | (0.14) |
From net realized gain | (0.84) | (1.03) | (1.70) | (0.08) | (0.34) |
Total distributions | (1.04) | (1.22) | (1.77) | (0.22) | (0.48) |
Net asset value, end of period | $28.33 | $23.54 | $26.25 | $25.33 | $14.91 |
Total return (%)2,3 | 25.16 | (5.53) | 10.91 | 71.55 | (20.06) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1,510 | $1,363 | $1,486 | $1,204 | $782 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.13 | 1.12 | 1.11 | 1.12 | 1.12 |
Expenses including reductions | 1.12 | 1.11 | 1.10 | 1.11 | 1.12 |
Net investment income | 0.68 | 0.83 | 0.34 | 0.52 | 0.70 |
Portfolio turnover (%) | 47 | 41 | 26 | 524 | 54 |
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 | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.45 | $26.14 | $25.34 | $14.94 | $19.13 |
Net investment income (loss)1 | (0.02) | 0.02 | (0.12) | (0.05) | (0.01) |
Net realized and unrealized gain (loss) on investments | 5.61 | (1.68) | 2.62 | 10.53 | (3.84) |
Total from investment operations | 5.59 | (1.66) | 2.50 | 10.48 | (3.85) |
Less distributions | |||||
From net investment income | —2 | — | — | — | — |
From net realized gain | (0.84) | (1.03) | (1.70) | (0.08) | (0.34) |
Total distributions | (0.84) | (1.03) | (1.70) | (0.08) | (0.34) |
Net asset value, end of period | $28.20 | $23.45 | $26.14 | $25.34 | $14.94 |
Total return (%)3,4 | 24.19 | (6.22) | 10.12 | 70.20 | (20.63) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $63 | $56 | $62 | $92 | $107 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.88 | 1.87 | 1.86 | 1.87 | 1.87 |
Expenses including reductions | 1.87 | 1.86 | 1.85 | 1.86 | 1.87 |
Net investment income (loss) | (0.07) | 0.08 | (0.46) | (0.23) | (0.07) |
Portfolio turnover (%) | 47 | 41 | 26 | 525 | 54 |
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. |
20 | JOHN HANCOCK Disciplined Value Mid Cap Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS I SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $24.76 | $27.55 | $26.49 | $15.58 | $19.91 |
Net investment income1 | 0.24 | 0.27 | 0.16 | 0.16 | 0.20 |
Net realized and unrealized gain (loss) on investments | 5.96 | (1.78) | 2.74 | 11.02 | (4.00) |
Total from investment operations | 6.20 | (1.51) | 2.90 | 11.18 | (3.80) |
Less distributions | |||||
From net investment income | (0.26) | (0.25) | (0.14) | (0.19) | (0.19) |
From net realized gain | (0.84) | (1.03) | (1.70) | (0.08) | (0.34) |
Total distributions | (1.10) | (1.28) | (1.84) | (0.27) | (0.53) |
Net asset value, end of period | $29.86 | $24.76 | $27.55 | $26.49 | $15.58 |
Total return (%)2 | 25.46 | (5.31) | 11.23 | 71.97 | (19.84) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $14,709 | $13,215 | $14,847 | $11,932 | $6,349 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.88 | 0.87 | 0.86 | 0.87 | 0.87 |
Expenses including reductions | 0.87 | 0.86 | 0.85 | 0.86 | 0.87 |
Net investment income | 0.93 | 1.08 | 0.59 | 0.78 | 0.97 |
Portfolio turnover (%) | 47 | 41 | 26 | 523 | 54 |
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 | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $24.64 | $27.41 | $26.37 | $15.53 | $19.85 |
Net investment income1 | 0.14 | 0.17 | 0.05 | 0.08 | 0.11 |
Net realized and unrealized gain (loss) on investments | 5.91 | (1.76) | 2.73 | 10.96 | (3.98) |
Total from investment operations | 6.05 | (1.59) | 2.78 | 11.04 | (3.87) |
Less distributions | |||||
From net investment income | (0.16) | (0.15) | (0.04) | (0.12) | (0.11) |
From net realized gain | (0.84) | (1.03) | (1.70) | (0.08) | (0.34) |
Total distributions | (1.00) | (1.18) | (1.74) | (0.20) | (0.45) |
Net asset value, end of period | $29.69 | $24.64 | $27.41 | $26.37 | $15.53 |
Total return (%)2 | 24.93 | (5.65) | 10.78 | 71.23 | (20.14) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $52 | $89 | $103 | $106 | $77 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.26 | 1.26 | 1.25 | 1.25 | 1.26 |
Expenses including reductions | 1.25 | 1.25 | 1.24 | 1.24 | 1.25 |
Net investment income | 0.52 | 0.68 | 0.18 | 0.39 | 0.54 |
Portfolio turnover (%) | 47 | 41 | 26 | 523 | 54 |
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 | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $24.73 | $27.51 | $26.46 | $15.57 | $19.90 |
Net investment income1 | 0.21 | 0.24 | 0.12 | 0.14 | 0.17 |
Net realized and unrealized gain (loss) on investments | 5.93 | (1.77) | 2.73 | 10.99 | (4.00) |
Total from investment operations | 6.14 | (1.53) | 2.85 | 11.13 | (3.83) |
Less distributions | |||||
From net investment income | (0.22) | (0.22) | (0.10) | (0.16) | (0.16) |
From net realized gain | (0.84) | (1.03) | (1.70) | (0.08) | (0.34) |
Total distributions | (1.06) | (1.25) | (1.80) | (0.24) | (0.50) |
Net asset value, end of period | $29.81 | $24.73 | $27.51 | $26.46 | $15.57 |
Total return (%)2 | 25.25 | (5.42) | 11.06 | 71.69 | (19.96) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $250 | $133 | $141 | $130 | $55 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.11 | 1.11 | 1.10 | 1.11 | 1.11 |
Expenses including reductions | 1.00 | 1.00 | 0.99 | 1.00 | 1.00 |
Net investment income | 0.81 | 0.94 | 0.43 | 0.65 | 0.81 |
Portfolio turnover (%) | 47 | 41 | 26 | 523 | 54 |
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 | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $24.75 | $27.54 | $26.48 | $15.58 | $19.90 |
Net investment income1 | 0.28 | 0.30 | 0.19 | 0.18 | 0.23 |
Net realized and unrealized gain (loss) on investments | 5.95 | (1.78) | 2.74 | 11.01 | (4.00) |
Total from investment operations | 6.23 | (1.48) | 2.93 | 11.19 | (3.77) |
Less distributions | |||||
From net investment income | (0.29) | (0.28) | (0.17) | (0.21) | (0.21) |
From net realized gain | (0.84) | (1.03) | (1.70) | (0.08) | (0.34) |
Total distributions | (1.13) | (1.31) | (1.87) | (0.29) | (0.55) |
Net asset value, end of period | $29.85 | $24.75 | $27.54 | $26.48 | $15.58 |
Total return (%)2 | 25.59 | (5.21) | 11.36 | 72.06 | (19.72) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $6,841 | $4,866 | $4,768 | $3,778 | $2,546 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.76 | 0.76 | 0.75 | 0.76 | 0.76 |
Expenses including reductions | 0.75 | 0.75 | 0.75 | 0.75 | 0.76 |
Net investment income | 1.05 | 1.20 | 0.69 | 0.88 | 1.08 |
Portfolio turnover (%) | 47 | 41 | 26 | 523 | 54 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
3 | Excludes in-kind transactions. |
24 | JOHN HANCOCK Disciplined Value Mid Cap Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Mid Cap Fund | 25 |
26 | JOHN HANCOCK Disciplined Value Mid Cap Fund | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK Disciplined Value Mid Cap Fund | 27 |
March 31, 2024 | March 31, 2023 | |
Ordinary income | $283,731,834 | $266,357,404 |
Long-term capital gains | 569,407,723 | 710,490,240 |
Total | $853,139,557 | $976,847,644 |
28 | JOHN HANCOCK Disciplined Value Mid Cap Fund | ANNUAL REPORT |
Class | Expense reduction |
Class A | $101,612 |
Class C | 4,190 |
Class I | 976,752 |
Class R2 | 5,463 |
Class | Expense reduction |
Class R4 | $14,148 |
Class R6 | 433,495 |
Total | $1,535,660 |
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 | $3,420,421 | $1,663,655 |
Class C | 564,135 | 68,597 |
Class I | — | 15,991,629 |
Class R2 | 371,532 | 3,927 |
Class R4 | 661,606 | 9,665 |
Class R6 | — | 299,370 |
Total | $5,017,694 | $18,036,843 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Lender | $8,100,000 | 7 | 5.802% | $9,138 |
30 | JOHN HANCOCK Disciplined Value Mid Cap Fund | ANNUAL REPORT |
Year Ended 3-31-24 | Year Ended 3-31-23 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 8,830,352 | $220,248,575 | 13,852,974 | $329,231,098 |
Distributions reinvested | 1,876,729 | 48,607,289 | 2,704,219 | 61,764,360 |
Repurchased | (15,297,022) | (381,079,331) | (15,257,713) | (364,805,578) |
Net increase (decrease) | (4,589,941) | $(112,223,467) | 1,299,480 | $26,189,880 |
Class C shares | ||||
Sold | 462,044 | $11,553,466 | 641,646 | $15,346,063 |
Distributions reinvested | 68,882 | 1,779,899 | 97,300 | 2,218,445 |
Repurchased | (685,260) | (17,014,599) | (718,198) | (17,155,641) |
Net increase (decrease) | (154,334) | $(3,681,234) | 20,748 | $408,867 |
Class I shares | ||||
Sold | 103,001,694 | $2,715,569,997 | 117,343,311 | $2,967,254,216 |
Distributions reinvested | 18,636,833 | 508,412,799 | 24,894,249 | 597,710,907 |
Repurchased | (162,679,164) | (4,248,287,090) | (147,506,347) | (3,736,180,507) |
Net decrease | (41,040,637) | $(1,024,304,294) | (5,268,787) | $(171,215,384) |
Class R2 shares | ||||
Sold | 594,212 | $15,461,530 | 783,545 | $19,469,456 |
Distributions reinvested | 55,899 | 1,518,217 | 154,604 | 3,698,119 |
Repurchased | (2,518,559) | (66,821,044) | (1,079,417) | (27,006,900) |
Net decrease | (1,868,448) | $(49,841,297) | (141,268) | $(3,839,325) |
Class R4 shares | ||||
Sold | 5,352,995 | $138,191,240 | 1,139,876 | $28,838,842 |
Distributions reinvested | 307,282 | 8,373,414 | 256,477 | 6,150,289 |
Repurchased | (2,631,241) | (68,766,216) | (1,133,100) | (28,644,353) |
Net increase | 3,029,036 | $77,798,438 | 263,253 | $6,344,778 |
Class R6 shares | ||||
Sold | 70,766,857 | $1,827,825,898 | 52,018,688 | $1,332,338,484 |
Distributions reinvested | 7,626,607 | 207,977,576 | 9,178,130 | 220,183,349 |
Repurchased | (45,831,627) | (1,200,424,504) | (37,772,828) | (965,368,564) |
Net increase | 32,561,837 | $835,378,970 | 23,423,990 | $587,153,269 |
Total net increase (decrease) | (12,062,487) | $(276,872,884) | 19,597,416 | $445,042,085 |
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* | 229,030 | — | $702,741,899 | $(700,457,608) | $6,046 | $(630) | $1,343,210 | — | $2,289,707 |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
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 |
Rocket Companies, Inc., Class A | 6,992,491 | — | $70,146,351 | $(2,674,572) | $340,330 | $33,928,635 | — | — | $101,740,744 |
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,2 Born: 1945 | 2012 | 183 |
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 | 178 |
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,3 Born: 1944 | 2006 | 180 |
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 | 178 |
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 (2021–2023), Board Member, Congressional Black Caucus Foundation (since 2024). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | ||
Grace K. Fey, Born: 1946 | 2012 | 183 |
Trustee | ||
Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 37 |
Independent Trustees (continued) | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Dean C. Garfield, Born: 1968 | 2022 | 178 |
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); Advisory Board Member of the Block Center for Technology and Society (since 2019). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | ||
Deborah C. Jackson, Born: 1952 | 2008 | 181 |
Trustee | ||
President, Cambridge College, Cambridge, Massachusetts (2011-2023); 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). | ||
Steven R. Pruchansky, Born: 1944 | 2006 | 178 |
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,3 Born: 1960 | 2020 | 178 |
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 | 178 |
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 Trustees4 | ||
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 | 180 |
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 (2018-2023); Director and Chairman, John Hancock Investment Management LLC (2005-2023, including prior positions); Director and Chairman, John Hancock Variable Trust Advisers LLC (2006-2023, including prior positions); Director and Chairman, John Hancock Investment Management Distributors LLC (2004-2023, including prior positions); President of various trusts within the John Hancock Fund Complex (2007-2023, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | ||
Paul Lorentz, Born: 1968 | 2022 | 178 |
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 |
Kristie M. Feinberg, Born: 1975 | 2023 |
President | |
Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2023); Director and Chairman, John Hancock Investment Management LLC (since 2023); Director and Chairman, John Hancock Variable Trust Advisers LLC (since 2023); Director and Chairman, John Hancock Investment Management Distributors LLC (since 2023); CFO and Global Head of Strategy, Manulife Investment Management (2021-2023, including prior positions); CFO Americas & Global Head of Treasury, Invesco, Ltd., Invesco US (2019-2020, including prior positions); Senior Vice President, Corporate Treasurer and Business Controller, Oppenheimer Funds (2001-2019, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2023). | |
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 as of September 26, 2023. |
3 | Member of the Audit Committee. |
4 | The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates. |
40 | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | ANNUAL REPORT |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
William H. Cunningham*
Noni L. Ellison
Grace K. Fey
Dean C. Garfield
Deborah C. Jackson
Paul Lorentz†
Frances G. Rathke*
Gregory A. Russo
President
Chief Financial Officer
Treasurer
Secretary and Chief Legal Officer
Chief Compliance Officer
Steven L. Pollack, CFA
You can also contact us: | ||
800-225-5291 | Regular mail: | Express mail: |
jhinvestments.com | John Hancock Signature Services, Inc. P.O. Box 219909 Kansas City, MO 64121-9909 | John Hancock Signature Services, Inc. 430 W 7th Street Suite 219909 Kansas City, MO 64105-1407 |
ANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND | 41 |
GOVERNANCE FUNDS
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
MF3506296 | 363A 3/24 |
United States and Europe
Manulife Investment Management
John Hancock Investment Management
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 3/31/2024 (% of net assets) | |
Broadcom, Inc. | 2.5 |
Microsoft Corp. | 2.5 |
IBM Corp. | 2.2 |
AbbVie, Inc. | 2.0 |
Iron Mountain, Inc. | 1.9 |
TotalEnergies SE | 1.8 |
AXA SA | 1.7 |
Deutsche Telekom AG | 1.6 |
Coca-Cola Europacific Partners PLC | 1.6 |
Restaurant Brands International, Inc. | 1.5 |
TOTAL | 19.3 |
Cash and cash equivalents are not included. |
TOP 10 COUNTRIES AS OF 3/31/2024 (% of net assets) | |
United States | 60.1 |
United Kingdom | 8.9 |
France | 7.2 |
Canada | 6.0 |
Germany | 5.4 |
Switzerland | 3.0 |
South Korea | 2.2 |
Taiwan | 1.3 |
Japan | 1.2 |
Italy | 1.1 |
TOTAL | 96.4 |
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 3-31-24 | as of 3-31-24 | ||
Class A | 8.73 | 6.08 | 4.98 | 34.30 | 62.53 | 2.05 | 1.84 | |
Class C | 12.61 | 6.37 | 4.75 | 36.18 | 59.10 | 1.42 | 1.25 | |
Class I1 | 14.82 | 7.45 | 5.81 | 43.20 | 75.91 | 2.41 | 2.23 | |
Class R21 | 14.32 | 7.04 | 5.39 | 40.51 | 69.07 | 2.01 | 1.86 | |
Class R61 | 14.96 | 7.55 | 5.93 | 43.89 | 77.84 | 2.50 | 2.35 | |
Class NAV1 | 14.94 | 7.54 | 5.93 | 43.84 | 77.88 | 2.50 | 2.35 | |
Index†† | 25.11 | 12.07 | 9.39 | 76.81 | 145.42 | — | — |
Class A | Class C | Class I | Class R2 | Class R6 | Class NAV | |
Gross (%) | 1.29 | 1.99 | 0.99 | 1.39 | 0.88 | 0.88 |
Net (%) | 1.09 | 1.84 | 0.84 | 1.24 | 0.74 | 0.87 |
6 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT |
Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class C2 | 3-31-14 | 15,910 | 15,910 | 24,542 |
Class I1 | 3-31-14 | 17,591 | 17,591 | 24,542 |
Class R21 | 3-31-14 | 16,907 | 16,907 | 24,542 |
Class R61 | 3-31-14 | 17,784 | 17,784 | 24,542 |
Class NAV1 | 3-31-14 | 17,788 | 17,788 | 24,542 |
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 10-1-2023 | Ending value on 3-31-2024 | Expenses paid during period ended 3-31-20241 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,154.70 | $5.87 | 1.09% |
Hypothetical example | 1,000.00 | 1,019.60 | 5.50 | 1.09% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,150.00 | 9.89 | 1.84% |
Hypothetical example | 1,000.00 | 1,015.80 | 9.27 | 1.84% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,156.30 | 4.53 | 0.84% |
Hypothetical example | 1,000.00 | 1,020.80 | 4.24 | 0.84% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 1,153.70 | 6.62 | 1.23% |
Hypothetical example | 1,000.00 | 1,018.90 | 6.21 | 1.23% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,157.20 | 3.99 | 0.74% |
Hypothetical example | 1,000.00 | 1,021.30 | 3.74 | 0.74% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 1,157.00 | 3.99 | 0.74% |
Hypothetical example | 1,000.00 | 1,021.30 | 3.74 | 0.74% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period). |
ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 9 |
Shares | Value | ||||
Common stocks 98.7% | $1,214,729,073 | ||||
(Cost $870,131,914) | |||||
Austria 0.9% | 11,710,480 | ||||
BAWAG Group AG (A)(B) | 185,024 | 11,710,480 | |||
Canada 6.0% | 73,648,451 | ||||
BCE, Inc. | 248,728 | 8,452,216 | |||
Enbridge, Inc. | 292,538 | 10,571,581 | |||
Great-West Lifeco, Inc. | 217,253 | 6,947,990 | |||
Nutrien, Ltd. (New York Stock Exchange) | 131,012 | 7,115,262 | |||
Restaurant Brands International, Inc. | 240,142 | 19,079,282 | |||
Rogers Communications, Inc., Class B | 152,339 | 6,241,788 | |||
Royal Bank of Canada | 71,737 | 7,235,398 | |||
TELUS Corp. | 500,373 | 8,004,934 | |||
France 7.2% | 88,083,196 | ||||
AXA SA | 543,712 | 20,419,600 | |||
Cie Generale des Etablissements Michelin SCA | 253,437 | 9,712,591 | |||
Orange SA | 943,183 | 11,091,883 | |||
Sanofi SA | 175,328 | 17,056,751 | |||
TotalEnergies SE | 318,528 | 21,911,417 | |||
Vinci SA | 61,490 | 7,890,954 | |||
Germany 5.4% | 66,310,668 | ||||
Allianz SE | 49,025 | 14,693,687 | |||
Deutsche Post AG | 312,157 | 13,453,195 | |||
Deutsche Telekom AG | 816,261 | 19,814,397 | |||
Muenchener Rueckversicherungs-Gesellschaft AG | 19,389 | 9,464,593 | |||
Siemens AG | 46,532 | 8,884,796 | |||
Ireland 0.9% | 11,296,906 | ||||
Medtronic PLC | 129,626 | 11,296,906 | |||
Italy 1.1% | 13,916,558 | ||||
Snam SpA | 2,947,350 | 13,916,558 | |||
Japan 1.2% | 15,330,850 | ||||
Astellas Pharma, Inc. | 572,100 | 6,145,926 | |||
Toyota Motor Corp. | 363,400 | 9,184,924 | |||
Norway 0.5% | 5,944,994 | ||||
Orkla ASA | 841,743 | 5,944,994 | |||
South Korea 2.2% | 26,527,229 | ||||
Hyundai Glovis Company, Ltd. | 52,903 | 7,100,323 | |||
Samsung Electronics Company, Ltd., GDR (A) | 6,924 | 10,280,296 | |||
SK Telecom Company, Ltd. | 231,002 | 9,146,610 |
10 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Switzerland 3.0% | $36,798,430 | ||||
Garmin, Ltd. | 50,376 | 7,499,475 | |||
Nestle SA | 55,951 | 5,944,791 | |||
Novartis AG | 174,220 | 16,874,677 | |||
Roche Holding AG | 25,378 | 6,479,487 | |||
Taiwan 1.3% | 16,203,827 | ||||
Taiwan Semiconductor Manufacturing Company, Ltd., ADR | 119,102 | 16,203,827 | |||
United Kingdom 8.9% | 109,613,964 | ||||
AstraZeneca PLC, ADR | 202,749 | 13,736,245 | |||
BAE Systems PLC | 560,609 | 9,555,806 | |||
British American Tobacco PLC | 387,494 | 11,760,850 | |||
Coca-Cola Europacific Partners PLC | 281,689 | 19,704,146 | |||
GSK PLC | 618,221 | 13,273,432 | |||
Imperial Brands PLC | 531,714 | 11,886,242 | |||
National Grid PLC | 800,750 | 10,789,298 | |||
Schroders PLC | 1,329,784 | 6,317,592 | |||
Unilever PLC | 250,795 | 12,590,353 | |||
United States 60.1% | 739,343,520 | ||||
AbbVie, Inc. | 135,167 | 24,613,911 | |||
Air Products & Chemicals, Inc. | 23,543 | 5,703,763 | |||
American Electric Power Company, Inc. | 123,534 | 10,636,277 | |||
Analog Devices, Inc. | 92,788 | 18,352,539 | |||
Apple, Inc. | 48,596 | 8,333,242 | |||
AT&T, Inc. | 702,624 | 12,366,182 | |||
Bank of America Corp. | 205,519 | 7,793,280 | |||
Best Buy Company, Inc. | 91,403 | 7,497,788 | |||
Bristol-Myers Squibb Company | 125,195 | 6,789,325 | |||
Broadcom, Inc. | 23,182 | 30,725,655 | |||
Chevron Corp. | 42,932 | 6,772,094 | |||
Cisco Systems, Inc. | 324,621 | 16,201,834 | |||
Columbia Banking System, Inc. | 342,901 | 6,635,134 | |||
Cummins, Inc. | 42,932 | 12,649,914 | |||
CVS Health Corp. | 88,911 | 7,091,541 | |||
Dell Technologies, Inc., Class C | 108,854 | 12,421,330 | |||
Dow, Inc. | 191,117 | 11,071,408 | |||
Duke Energy Corp. | 73,688 | 7,126,366 | |||
Eaton Corp. PLC | 22,311 | 6,976,203 | |||
Eli Lilly & Company | 9,250 | 7,196,130 | |||
Emerson Electric Company | 66,475 | 7,539,595 | |||
Entergy Corp. | 75,061 | 7,932,446 | |||
Enterprise Products Partners LP | 601,601 | 17,554,717 | |||
Essential Utilities, Inc. | 187,352 | 6,941,392 | |||
Hasbro, Inc. | 152,616 | 8,625,856 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 11 |
Shares | Value | ||||
United States (continued) | |||||
Hewlett Packard Enterprise Company | 571,898 | $10,139,752 | |||
IBM Corp. | 144,108 | 27,518,864 | |||
Iron Mountain, Inc. | 285,012 | 22,860,813 | |||
Johnson & Johnson | 47,917 | 7,579,990 | |||
JPMorgan Chase & Co. | 69,799 | 13,980,740 | |||
KLA Corp. | 21,210 | 14,816,670 | |||
Lazard, Inc. | 333,207 | 13,951,377 | |||
Linde PLC | 14,957 | 6,944,834 | |||
Lockheed Martin Corp. | 14,403 | 6,551,493 | |||
LyondellBasell Industries NV, Class A | 124,087 | 12,691,618 | |||
McDonald’s Corp. | 21,327 | 6,013,148 | |||
Merck & Company, Inc. | 70,352 | 9,282,946 | |||
Meta Platforms, Inc., Class A | 13,867 | 6,733,538 | |||
MetLife, Inc. | 182,530 | 13,527,298 | |||
Microsoft Corp. | 72,845 | 30,647,348 | |||
Mondelez International, Inc., Class A | 87,249 | 6,107,430 | |||
MPLX LP | 308,648 | 12,827,411 | |||
MSC Industrial Direct Company, Inc., Class A | 139,874 | 13,573,373 | |||
NetApp, Inc. | 93,619 | 9,827,186 | |||
NextEra Energy, Inc. | 162,865 | 10,408,702 | |||
NiSource, Inc. | 375,030 | 10,373,330 | |||
Omnicom Group, Inc. | 93,619 | 9,058,574 | |||
Paychex, Inc. | 49,302 | 6,054,286 | |||
PepsiCo, Inc. | 34,900 | 6,107,849 | |||
Pfizer, Inc. | 251,063 | 6,966,998 | |||
Philip Morris International, Inc. | 178,929 | 16,393,475 | |||
Pinnacle West Capital Corp. | 97,498 | 7,286,026 | |||
Realty Income Corp. | 172,836 | 9,350,428 | |||
Regions Financial Corp. | 358,136 | 7,535,181 | |||
RTX Corp. | 81,156 | 7,915,145 | |||
Texas Instruments, Inc. | 78,641 | 13,700,049 | |||
The Coca-Cola Company | 121,594 | 7,439,121 | |||
The Home Depot, Inc. | 19,389 | 7,437,620 | |||
The PNC Financial Services Group, Inc. | 49,302 | 7,967,203 | |||
The Williams Companies, Inc. | 221,185 | 8,619,579 | |||
Truist Financial Corp. | 210,505 | 8,205,485 | |||
U.S. Bancorp | 193,886 | 8,666,704 | |||
United Parcel Service, Inc., Class B | 50,577 | 7,517,260 | |||
UnitedHealth Group, Inc. | 12,879 | 6,371,241 | |||
Vail Resorts, Inc. | 28,529 | 6,357,117 | |||
Verizon Communications, Inc. | 297,609 | 12,487,674 | |||
VICI Properties, Inc. | 310,771 | 9,257,868 | |||
Walmart, Inc. | 135,366 | 8,144,972 | |||
WEC Energy Group, Inc. | 104,699 | 8,597,882 |
12 | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total investments (Cost $870,131,914) 98.7% | $1,214,729,073 | ||||
Other assets and liabilities, net 1.3% | 16,431,934 | ||||
Total net assets 100.0% | $1,231,161,007 |
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 $870,131,914) | $1,214,729,073 |
Cash | 10,238,131 |
Foreign currency, at value (Cost $1,201,954) | 1,198,835 |
Dividends and interest receivable | 5,846,079 |
Receivable for fund shares sold | 1,121,708 |
Receivable for investments sold | 6,859,952 |
Receivable for securities lending income | 2,813 |
Receivable from affiliates | 23,720 |
Other assets | 156,801 |
Total assets | 1,240,177,112 |
Liabilities | |
Payable for investments purchased | 6,620,154 |
Payable for fund shares repurchased | 2,062,437 |
Payable to affiliates | |
Accounting and legal services fees | 71,514 |
Transfer agent fees | 87,339 |
Distribution and service fees | 132 |
Trustees’ fees | 1,996 |
Other liabilities and accrued expenses | 172,533 |
Total liabilities | 9,016,105 |
Net assets | $1,231,161,007 |
Net assets consist of | |
Paid-in capital | $879,976,349 |
Total distributable earnings (loss) | 351,184,658 |
Net assets | $1,231,161,007 |
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 ($307,895,435 ÷ 27,045,767 shares)1 | $11.38 |
Class C ($8,423,357 ÷ 737,597 shares)1 | $11.42 |
Class I ($549,807,115 ÷ 48,057,713 shares) | $11.44 |
Class R2 ($671,353 ÷ 58,526 shares) | $11.47 |
Class R6 ($288,685,238 ÷ 25,288,227 shares) | $11.42 |
Class NAV ($75,678,509 ÷ 6,622,957 shares) | $11.43 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $11.98 |
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 | $47,996,459 |
Interest | 347,132 |
Securities lending | 54,582 |
Less foreign taxes withheld | (2,676,080) |
Total investment income | 45,722,093 |
Expenses | |
Investment management fees | 9,631,711 |
Distribution and service fees | 1,001,889 |
Accounting and legal services fees | 249,498 |
Transfer agent fees | 1,045,266 |
Trustees’ fees | 29,426 |
Custodian fees | 333,318 |
State registration fees | 184,567 |
Printing and postage | 110,522 |
Professional fees | 92,666 |
Other | 59,878 |
Total expenses | 12,738,741 |
Less expense reductions | (2,120,690) |
Net expenses | 10,618,051 |
Net investment income | 35,104,042 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | 6,068,232 |
Affiliated investments | (4,826) |
6,063,406 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | 122,796,476 |
122,796,476 | |
Net realized and unrealized gain | 128,859,882 |
Increase in net assets from operations | $163,963,924 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 15 |
Year ended 3-31-24 | Year ended 3-31-23 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $35,104,042 | $30,738,377 |
Net realized gain | 6,063,406 | 39,704,284 |
Change in net unrealized appreciation (depreciation) | 122,796,476 | (101,169,309) |
Increase (decrease) in net assets resulting from operations | 163,963,924 | (30,726,648) |
Distributions to shareholders | ||
From earnings | ||
Class A | (12,401,925) | (26,216,821) |
Class C | (314,372) | (1,121,090) |
Class I | (23,435,121) | (31,458,709) |
Class R2 | (24,149) | (44,492) |
Class R6 | (12,428,968) | (24,441,577) |
Class NAV | (3,467,731) | (8,174,701) |
Total distributions | (52,072,266) | (91,457,390) |
From fund share transactions | (115,832,093) | 245,184,839 |
Total increase (decrease) | (3,940,435) | 123,000,801 |
Net assets | ||
Beginning of year | 1,235,101,442 | 1,112,100,641 |
End of year | $1,231,161,007 | $1,235,101,442 |
16 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS A SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $10.36 | $11.64 | $11.76 | $8.62 | $11.03 |
Net investment income1 | 0.29 | 0.29 | 0.28 | 0.27 | 0.33 |
Net realized and unrealized gain (loss) on investments | 1.17 | (0.63) | 0.86 | 3.16 | (2.21) |
Total from investment operations | 1.46 | (0.34) | 1.14 | 3.43 | (1.88) |
Less distributions | |||||
From net investment income | (0.27) | (0.33) | (0.28) | (0.29) | (0.33) |
From net realized gain | (0.17) | (0.61) | (0.98) | — | (0.20) |
Total distributions | (0.44) | (0.94) | (1.26) | (0.29) | (0.53) |
Net asset value, end of period | $11.38 | $10.36 | $11.64 | $11.76 | $8.62 |
Total return (%)2,3 | 14.51 | (2.48) | 10.05 | 40.22 | (17.96) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $308 | $304 | $327 | $318 | $257 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.31 | 1.29 | 1.28 | 1.29 | 1.29 |
Expenses including reductions | 1.09 | 1.09 | 1.09 | 1.09 | 1.09 |
Net investment income | 2.70 | 2.73 | 2.32 | 2.58 | 2.96 |
Portfolio turnover (%) | 21 | 28 | 24 | 30 | 33 |
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 | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $10.40 | $11.67 | $11.79 | $8.64 | $11.05 |
Net investment income1 | 0.21 | 0.22 | 0.20 | 0.19 | 0.25 |
Net realized and unrealized gain (loss) on investments | 1.18 | (0.63) | 0.85 | 3.17 | (2.21) |
Total from investment operations | 1.39 | (0.41) | 1.05 | 3.36 | (1.96) |
Less distributions | |||||
From net investment income | (0.20) | (0.25) | (0.19) | (0.21) | (0.25) |
From net realized gain | (0.17) | (0.61) | (0.98) | — | (0.20) |
Total distributions | (0.37) | (0.86) | (1.17) | (0.21) | (0.45) |
Net asset value, end of period | $11.42 | $10.40 | $11.67 | $11.79 | $8.64 |
Total return (%)2,3 | 13.61 | (3.15) | 9.19 | 39.22 | (18.59) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $8 | $12 | $20 | $29 | $44 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 2.01 | 1.99 | 1.98 | 1.99 | 1.99 |
Expenses including reductions | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 |
Net investment income | 2.03 | 2.06 | 1.63 | 1.89 | 2.27 |
Portfolio turnover (%) | 21 | 28 | 24 | 30 | 33 |
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 | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $10.41 | $11.69 | $11.81 | $8.65 | $11.07 |
Net investment income1 | 0.31 | 0.32 | 0.31 | 0.29 | 0.36 |
Net realized and unrealized gain (loss) on investments | 1.19 | (0.63) | 0.86 | 3.18 | (2.22) |
Total from investment operations | 1.50 | (0.31) | 1.17 | 3.47 | (1.86) |
Less distributions | |||||
From net investment income | (0.30) | (0.36) | (0.31) | (0.31) | (0.36) |
From net realized gain | (0.17) | (0.61) | (0.98) | — | (0.20) |
Total distributions | (0.47) | (0.97) | (1.29) | (0.31) | (0.56) |
Net asset value, end of period | $11.44 | $10.41 | $11.69 | $11.81 | $8.65 |
Total return (%)2 | 14.82 | (2.22) | 10.28 | 40.65 | (17.77) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $550 | $550 | $377 | $396 | $605 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.01 | 0.99 | 0.98 | 0.99 | 0.99 |
Expenses including reductions | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 |
Net investment income | 2.95 | 3.00 | 2.59 | 2.78 | 3.22 |
Portfolio turnover (%) | 21 | 28 | 24 | 30 | 33 |
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 | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $10.44 | $11.71 | $11.83 | $8.66 | $11.08 |
Net investment income1 | 0.27 | 0.28 | 0.27 | 0.25 | 0.32 |
Net realized and unrealized gain (loss) on investments | 1.19 | (0.62) | 0.85 | 3.19 | (2.22) |
Total from investment operations | 1.46 | (0.34) | 1.12 | 3.44 | (1.90) |
Less distributions | |||||
From net investment income | (0.26) | (0.32) | (0.26) | (0.27) | (0.32) |
From net realized gain | (0.17) | (0.61) | (0.98) | — | (0.20) |
Total distributions | (0.43) | (0.93) | (1.24) | (0.27) | (0.52) |
Net asset value, end of period | $11.47 | $10.44 | $11.71 | $11.83 | $8.66 |
Total return (%)2 | 14.32 | (2.53) | 9.82 | 40.19 | (18.10) |
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 | 1.38 | 1.34 | 1.34 | 1.35 | 1.34 |
Expenses including reductions | 1.23 | 1.21 | 1.21 | 1.23 | 1.22 |
Net investment income | 2.54 | 2.62 | 2.20 | 2.45 | 2.86 |
Portfolio turnover (%) | 21 | 28 | 24 | 30 | 33 |
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 | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $10.39 | $11.67 | $11.79 | $8.64 | $11.06 |
Net investment income1 | 0.32 | 0.33 | 0.32 | 0.30 | 0.37 |
Net realized and unrealized gain (loss) on investments | 1.19 | (0.63) | 0.86 | 3.17 | (2.22) |
Total from investment operations | 1.51 | (0.30) | 1.18 | 3.47 | (1.85) |
Less distributions | |||||
From net investment income | (0.31) | (0.37) | (0.32) | (0.32) | (0.37) |
From net realized gain | (0.17) | (0.61) | (0.98) | — | (0.20) |
Total distributions | (0.48) | (0.98) | (1.30) | (0.32) | (0.57) |
Net asset value, end of period | $11.42 | $10.39 | $11.67 | $11.79 | $8.64 |
Total return (%)2 | 14.96 | (2.12) | 10.40 | 40.72 | (17.69) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $289 | $279 | $278 | $275 | $245 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.89 | 0.88 | 0.88 | 0.88 | 0.88 |
Expenses including reductions | 0.74 | 0.74 | 0.74 | 0.74 | 0.74 |
Net investment income | 3.05 | 3.06 | 2.68 | 2.94 | 3.34 |
Portfolio turnover (%) | 21 | 28 | 24 | 30 | 33 |
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 | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $10.40 | $11.68 | $11.80 | $8.64 | $11.06 |
Net investment income1 | 0.33 | 0.33 | 0.32 | 0.29 | 0.37 |
Net realized and unrealized gain (loss) on investments | 1.18 | (0.63) | 0.86 | 3.19 | (2.22) |
Total from investment operations | 1.51 | (0.30) | 1.18 | 3.48 | (1.85) |
Less distributions | |||||
From net investment income | (0.31) | (0.37) | (0.32) | (0.32) | (0.37) |
From net realized gain | (0.17) | (0.61) | (0.98) | — | (0.20) |
Total distributions | (0.48) | (0.98) | (1.30) | (0.32) | (0.57) |
Net asset value, end of period | $11.43 | $10.40 | $11.68 | $11.80 | $8.64 |
Total return (%)2 | 14.94 | (2.12) | 10.40 | 40.83 | (17.77) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $76 | $89 | $109 | $120 | $325 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.89 | 0.88 | 0.87 | 0.87 | 0.87 |
Expenses including reductions | 0.74 | 0.74 | 0.74 | 0.74 | 0.74 |
Net investment income | 3.11 | 3.10 | 2.68 | 2.87 | 3.32 |
Portfolio turnover (%) | 21 | 28 | 24 | 30 | 33 |
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 3-31-24 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Austria | $11,710,480 | — | $11,710,480 | — |
Canada | 73,648,451 | $73,648,451 | — | — |
France | 88,083,196 | — | 88,083,196 | — |
Germany | 66,310,668 | — | 66,310,668 | — |
Ireland | 11,296,906 | 11,296,906 | — | — |
Italy | 13,916,558 | — | 13,916,558 | — |
Japan | 15,330,850 | — | 15,330,850 | — |
Norway | 5,944,994 | — | 5,944,994 | — |
South Korea | 26,527,229 | — | 26,527,229 | — |
Switzerland | 36,798,430 | 7,499,475 | 29,298,955 | — |
Taiwan | 16,203,827 | 16,203,827 | — | — |
United Kingdom | 109,613,964 | 33,440,391 | 76,173,573 | — |
United States | 739,343,520 | 739,343,520 | — | — |
Total investments in securities | $1,214,729,073 | $881,432,570 | $333,296,503 | — |
24 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 25 |
March 31, 2024 | March 31, 2023 | |
Ordinary income | $33,530,570 | $36,225,479 |
Long-term capital gains | 18,541,696 | 55,231,911 |
Total | $52,072,266 | $91,457,390 |
26 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 27 |
Class | Expense reduction |
Class A | $657,711 |
Class C | 16,334 |
Class I | 907,799 |
Class R2 | 887 |
Class | Expense reduction |
Class R6 | $423,435 |
Class NAV | 114,524 |
Total | $2,120,690 |
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 | $901,521 | $365,273 |
Class C | 97,466 | 11,859 |
Class I | — | 653,733 |
Class R2 | 2,902 | 31 |
Class R6 | — | 14,370 |
Total | $1,001,889 | $1,045,266 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Borrower | $5,650,000 | 6 | 5.777% | $(5,440) |
Year Ended 3-31-24 | Year Ended 3-31-23 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 2,169,734 | $22,877,989 | 3,470,282 | $36,688,345 |
Distributions reinvested | 1,152,398 | 12,223,186 | 2,545,708 | 25,556,010 |
Repurchased | (5,626,610) | (59,492,628) | (4,730,402) | (49,829,402) |
Net increase (decrease) | (2,304,478) | $(24,391,453) | 1,285,588 | $12,414,953 |
Class C shares | ||||
Sold | 29,312 | $312,042 | 80,695 | $849,880 |
Distributions reinvested | 29,603 | 314,372 | 111,092 | 1,120,930 |
Repurchased | (510,024) | (5,409,397) | (755,258) | (8,033,701) |
Net decrease | (451,109) | $(4,782,983) | (563,471) | $(6,062,891) |
ANNUAL REPORT | JOHN HANCOCK Global Shareholder Yield Fund | 29 |
Year Ended 3-31-24 | Year Ended 3-31-23 | |||
Shares | Amount | Shares | Amount | |
Class I shares | ||||
Sold | 7,081,923 | $75,098,146 | 25,652,990 | $272,709,674 |
Distributions reinvested | 2,188,880 | 23,322,263 | 3,090,857 | 31,175,952 |
Repurchased | (14,009,796) | (147,789,391) | (8,206,293) | (86,522,837) |
Net increase (decrease) | (4,738,993) | $(49,368,982) | 20,537,554 | $217,362,789 |
Class R2 shares | ||||
Sold | 6,280 | $67,363 | 7,705 | $81,962 |
Distributions reinvested | 2,235 | 23,896 | 4,347 | 43,946 |
Repurchased | (4,024) | (42,858) | (8,278) | (88,155) |
Net increase | 4,491 | $48,401 | 3,774 | $37,753 |
Class R6 shares | ||||
Sold | 3,500,041 | $37,052,286 | 6,182,810 | $65,485,670 |
Distributions reinvested | 1,167,888 | 12,423,814 | 2,427,933 | 24,438,490 |
Repurchased | (6,265,509) | (66,400,554) | (5,556,061) | (58,880,852) |
Net increase (decrease) | (1,597,580) | $(16,924,454) | 3,054,682 | $31,043,308 |
Class NAV shares | ||||
Sold | 35,958 | $368,695 | 111,306 | $1,114,757 |
Distributions reinvested | 326,090 | 3,467,731 | 811,065 | 8,174,701 |
Repurchased | (2,284,006) | (24,249,048) | (1,726,184) | (18,900,531) |
Net decrease | (1,921,958) | $(20,412,622) | (803,813) | $(9,611,073) |
Total net increase (decrease) | (11,009,627) | $(115,832,093) | 23,514,314 | $245,184,839 |
30 | JOHN HANCOCK Global Shareholder Yield Fund | ANNUAL REPORT |
Dividends and distributions | |||||||||
Affiliate | Ending share amount | Beginning value | Cost of purchases | Proceeds from shares sold | Realized gain (loss) | Change in unrealized appreciation (depreciation) | Income distributions received | Capital gain distributions received | Ending value |
John Hancock Collateral Trust* | — | — | $137,470,292 | $(137,465,466) | $(4,826) | — | $54,582 | — | — |
* | 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,2 Born: 1945 | 2012 | 183 |
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 | 178 |
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,3 Born: 1944 | 2006 | 180 |
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 | 178 |
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 (2021–2023), Board Member, Congressional Black Caucus Foundation (since 2024). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | ||
Grace K. Fey, Born: 1946 | 2012 | 183 |
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). |
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 |
Dean C. Garfield, Born: 1968 | 2022 | 178 |
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); Advisory Board Member of the Block Center for Technology and Society (since 2019). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | ||
Deborah C. Jackson, Born: 1952 | 2008 | 181 |
Trustee | ||
President, Cambridge College, Cambridge, Massachusetts (2011-2023); 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). | ||
Steven R. Pruchansky, Born: 1944 | 2006 | 178 |
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,3 Born: 1960 | 2020 | 178 |
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 | 178 |
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 Trustees4 | ||
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 | 180 |
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 (2018-2023); Director and Chairman, John Hancock Investment Management LLC (2005-2023, including prior positions); Director and Chairman, John Hancock Variable Trust Advisers LLC (2006-2023, including prior positions); Director and Chairman, John Hancock Investment Management Distributors LLC (2004-2023, including prior positions); President of various trusts within the John Hancock Fund Complex (2007-2023, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | ||
Paul Lorentz, Born: 1968 | 2022 | 178 |
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 |
Kristie M. Feinberg, Born: 1975 | 2023 |
President | |
Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2023); Director and Chairman, John Hancock Investment Management LLC (since 2023); Director and Chairman, John Hancock Variable Trust Advisers LLC (since 2023); Director and Chairman, John Hancock Investment Management Distributors LLC (since 2023); CFO and Global Head of Strategy, Manulife Investment Management (2021-2023, including prior positions); CFO Americas & Global Head of Treasury, Invesco, Ltd., Invesco US (2019-2020, including prior positions); Senior Vice President, Corporate Treasurer and Business Controller, Oppenheimer Funds (2001-2019, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2023). | |
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 as of September 26, 2023. |
3 | Member of the Audit Committee. |
4 | The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates. |
ANNUAL REPORT | JOHN HANCOCK GLOBAL SHAREHOLDER YIELD FUND | 39 |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
William H. Cunningham*
Noni L. Ellison
Grace K. Fey
Dean C. Garfield
Deborah C. Jackson
Paul Lorentz†
Frances G. Rathke*
Gregory A. Russo
President
Chief Financial Officer
Treasurer
Secretary and Chief Legal Officer
Chief Compliance Officer
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
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
MF3506300 | 320A 3/24 |
United States and Europe
Manulife Investment Management
John Hancock Investment Management
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 3/31/2024 (% of net assets) | |
Taiwan Semiconductor Manufacturing Company, Ltd. | 6.3 |
ASML Holding NV | 3.8 |
Tencent Holdings, Ltd. | 3.3 |
Airbus SE | 3.0 |
AstraZeneca PLC | 2.8 |
Rheinmetall AG | 2.6 |
Industria de Diseno Textil SA | 2.5 |
Safran SA | 2.4 |
Constellation Software, Inc. | 2.3 |
Recruit Holdings Company, Ltd. | 2.3 |
TOTAL | 31.3 |
Cash and cash equivalents are not included. |
TOP 10 COUNTRIES AS OF 3/31/2024 (% of net assets) | |
France | 12.4 |
United Kingdom | 11.3 |
Japan | 10.4 |
Taiwan | 7.6 |
Germany | 7.2 |
Ireland | 7.0 |
China | 6.4 |
India | 5.8 |
Sweden | 4.1 |
Canada | 3.8 |
TOTAL | 76.0 |
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 | 7.18 | 4.79 | 5.67 | 26.35 | 73.53 |
Class C | 11.07 | 5.13 | 5.46 | 28.43 | 70.21 |
Class I1 | 13.20 | 6.19 | 6.53 | 35.04 | 88.33 |
Class R21,2 | 12.75 | 5.77 | 6.11 | 32.39 | 81.00 |
Class R41,2 | 13.03 | 6.04 | 6.36 | 34.10 | 85.22 |
Class R61,2 | 13.31 | 6.30 | 6.61 | 35.74 | 89.65 |
Class 11 | 13.30 | 6.26 | 6.61 | 35.49 | 89.71 |
Class NAV1,2 | 13.30 | 6.31 | 6.60 | 35.78 | 89.48 |
Index 1† | 11.22 | 6.24 | 5.12 | 35.31 | 64.75 |
Index 2† | 15.32 | 7.33 | 4.80 | 42.41 | 59.77 |
Class A | Class C | Class I | Class R2 | Class R4 | Class R6 | Class 1 | Class NAV | |
Gross (%) | 1.30 | 2.00 | 1.00 | 1.39 | 1.24 | 0.89 | 0.93 | 0.88 |
Net (%) | 1.29 | 1.99 | 0.99 | 1.38 | 1.13 | 0.89 | 0.93 | 0.88 |
6 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
Start date | With maximum sales charge ($) | Without sales charge ($) | Index 1 ($) | Index 2 ($) | |
Class C3 | 3-31-14 | 17,021 | 17,021 | 16,475 | 15,977 |
Class I1 | 3-31-14 | 18,833 | 18,833 | 16,475 | 15,977 |
Class R21,2 | 3-31-14 | 18,100 | 18,100 | 16,475 | 15,977 |
Class R41,2 | 3-31-14 | 18,522 | 18,522 | 16,475 | 15,977 |
Class R61,2 | 3-31-14 | 18,965 | 18,965 | 16,475 | 15,977 |
Class 11 | 3-31-14 | 18,971 | 18,971 | 16,475 | 15,977 |
Class NAV1,2 | 3-31-14 | 18,948 | 18,948 | 16,475 | 15,977 |
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 10-1-2023 | Ending value on 3-31-2024 | Expenses paid during period ended 3-31-20241 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,161.40 | $7.08 | 1.31% |
Hypothetical example | 1,000.00 | 1,018.50 | 6.61 | 1.31% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,157.40 | 10.84 | 2.01% |
Hypothetical example | 1,000.00 | 1,015.00 | 10.13 | 2.01% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,163.40 | 5.46 | 1.01% |
Hypothetical example | 1,000.00 | 1,020.00 | 5.10 | 1.01% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 1,161.00 | 7.56 | 1.40% |
Hypothetical example | 1,000.00 | 1,018.00 | 7.06 | 1.40% | |
Class R4 | Actual expenses/actual returns | 1,000.00 | 1,162.70 | 6.16 | 1.14% |
Hypothetical example | 1,000.00 | 1,019.30 | 5.76 | 1.14% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,164.00 | 4.81 | 0.89% |
Hypothetical example | 1,000.00 | 1,020.60 | 4.50 | 0.89% | |
Class 1 | Actual expenses/actual returns | 1,000.00 | 1,164.00 | 5.09 | 0.94% |
Hypothetical example | 1,000.00 | 1,020.30 | 4.75 | 0.94% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 1,164.00 | 4.81 | 0.89% |
Hypothetical example | 1,000.00 | 1,020.60 | 4.50 | 0.89% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period). |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 9 |
Shares | Value | ||||
Common stocks 97.8% | $5,828,227,703 | ||||
(Cost $4,387,215,461) | |||||
Australia 3.3% | 198,744,275 | ||||
Aristocrat Leisure, Ltd. | 3,625,052 | 101,504,566 | |||
Goodman Group | 4,414,519 | 97,239,709 | |||
Canada 3.8% | 228,631,336 | ||||
ARC Resources, Ltd. (A) | 5,011,117 | 89,342,199 | |||
Constellation Software, Inc. | 50,993 | 139,289,137 | |||
China 6.4% | 378,377,114 | ||||
Focus Media Information Technology Company, Ltd., Class A | 70,601,702 | 63,539,726 | |||
Kweichow Moutai Company, Ltd., Class A | 410,044 | 96,655,932 | |||
Tencent Holdings, Ltd. | 5,040,485 | 196,326,608 | |||
ZTO Express Cayman, Inc., ADR | 1,043,689 | 21,854,848 | |||
Denmark 1.4% | 82,414,565 | ||||
DSV A/S | 506,996 | 82,414,565 | |||
France 12.4% | 740,190,434 | ||||
Airbus SE | 973,872 | 179,415,843 | |||
Capgemini SE | 308,821 | 71,063,275 | |||
Edenred SE | 1,412,200 | 75,404,302 | |||
Publicis Groupe SA | 993,791 | 108,343,950 | |||
Safran SA | 647,077 | 146,545,100 | |||
Thales SA | 442,587 | 75,452,642 | |||
Vinci SA | 654,297 | 83,965,322 | |||
Germany 7.2% | 427,025,286 | ||||
Allianz SE | 215,609 | 64,621,950 | |||
Brenntag SE | 1,098,226 | 92,559,924 | |||
Rheinmetall AG | 275,488 | 154,940,807 | |||
Siemens AG | 601,775 | 114,902,605 | |||
Hong Kong 0.7% | 44,274,156 | ||||
China Resources Beer Holdings Company, Ltd. | 9,587,980 | 44,274,156 | |||
India 5.8% | 346,545,686 | ||||
Axis Bank, Ltd. | 7,084,689 | 89,231,465 | |||
Bharti Airtel, Ltd. | 8,270,007 | 122,756,818 | |||
Bharti Airtel, Ltd., Partly Paid Up Shares | 801,744 | 7,929,966 | |||
HDFC Bank, Ltd. | 3,404,264 | 59,325,370 | |||
Hindustan Aeronautics, Ltd. | 1,674,801 | 67,302,067 | |||
Ireland 7.0% | 417,978,744 | ||||
Accenture PLC, Class A | 158,381 | 54,896,438 | |||
AerCap Holdings NV (B) | 1,265,035 | 109,944,192 |
10 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Ireland (continued) | |||||
Flutter Entertainment PLC (B) | 515,918 | $102,839,655 | |||
ICON PLC (B) | 265,797 | 89,294,502 | |||
Ryanair Holdings PLC, ADR | 419,012 | 61,003,957 | |||
Italy 1.2% | 71,635,512 | ||||
FinecoBank SpA | 4,783,084 | 71,635,512 | |||
Japan 10.4% | 617,088,152 | ||||
Mitsubishi UFJ Financial Group, Inc. | 7,459,445 | 75,893,156 | |||
Nippon Telegraph & Telephone Corp. | 61,582,948 | 73,351,654 | |||
Obic Company, Ltd. | 447,540 | 67,601,434 | |||
Recruit Holdings Company, Ltd. | 3,051,748 | 133,992,513 | |||
Renesas Electronics Corp. | 6,694,685 | 119,303,698 | |||
Sony Group Corp. | 898,000 | 77,004,155 | |||
Tokyo Electron, Ltd. | 268,542 | 69,941,542 | |||
Mexico 2.2% | 131,608,337 | ||||
Grupo Financiero Banorte SAB de CV, Series O | 5,974,433 | 63,561,173 | |||
Wal-Mart de Mexico SAB de CV | 16,852,095 | 68,047,164 | |||
Netherlands 3.8% | 225,296,856 | ||||
ASML Holding NV | 232,393 | 225,296,856 | |||
Portugal 1.3% | 74,447,121 | ||||
Jeronimo Martins SGPS SA | 3,752,308 | 74,447,121 | |||
South Korea 2.2% | 133,230,596 | ||||
Samsung Electronics Company, Ltd. | 2,216,907 | 133,230,596 | |||
Spain 2.5% | 150,480,186 | ||||
Industria de Diseno Textil SA | 2,988,300 | 150,480,186 | |||
Sweden 4.1% | 242,172,474 | ||||
Evolution AB (C) | 631,005 | 78,373,323 | |||
Spotify Technology SA (B) | 237,818 | 62,760,170 | |||
Volvo AB, B Shares (A) | 3,728,176 | 101,038,981 | |||
Switzerland 3.2% | 190,046,280 | ||||
Holcim, Ltd. (B) | 749,130 | 67,868,768 | |||
Kuehne + Nagel International AG | 212,333 | 59,075,014 | |||
Novartis AG | 651,492 | 63,102,498 | |||
Taiwan 7.6% | 454,894,703 | ||||
Accton Technology Corp. | 5,508,293 | 78,936,636 | |||
Taiwan Semiconductor Manufacturing Company, Ltd. | 15,693,551 | 375,958,067 | |||
United Kingdom 11.3% | 673,145,890 | ||||
Allfunds Group PLC | 8,575,210 | 61,843,488 | |||
AstraZeneca PLC | 1,244,449 | 167,183,801 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 11 |
Shares | Value | ||||
United Kingdom (continued) | |||||
British American Tobacco PLC | 970,164 | $29,445,497 | |||
GSK PLC | 3,882,247 | 83,353,269 | |||
InterContinental Hotels Group PLC | 955,098 | 99,245,896 | |||
London Stock Exchange Group PLC | 1,088,772 | 130,275,846 | |||
Unilever PLC | 2,027,779 | 101,798,093 | |||
Preferred securities 1.4% | $86,504,687 | ||||
(Cost $86,392,717) | |||||
Brazil 1.4% | 86,504,687 | ||||
Itau Unibanco Holding SA | 12,524,700 | 86,504,687 | |||
Warrants 0.0% | $0 | ||||
(Cost $0) | |||||
Constellation Software, Inc. (Expiration Date: 3-31-40) (B)(D)(E) | 65,212 | 0 | |||
Yield (%) | Shares | Value | |||
Short-term investments 3.0% | $175,330,862 | ||||
(Cost $175,375,540) | |||||
Short-term funds 2.6% | 152,730,862 | ||||
John Hancock Collateral Trust (F) | 5.2975(G) | 15,277,058 | 152,730,862 |
Par value^ | Value | ||||
Repurchase agreement 0.4% | 22,600,000 | ||||
Bank of America Corp. Tri-Party Repurchase Agreement dated 3-28-24 at 5.330% to be repurchased at $11,306,692 on 4-1-24, collateralized by $677,978 Federal Home Loan Mortgage Corp., 3.000% - 7.000% due 12-1-26 to 10-1-52 (valued at $657,762), $1,143,142 Federal National Mortgage Association, 2.500% - 8.000% due 7-1-32 to 5-1-53 (valued at $988,746) and $10,787,260 Government National Mortgage Association, 2.500% - 6.000% due 12-15-28 to 3-20-52 (valued at $9,879,491) | 11,300,000 | 11,300,000 | |||
Societe Generale SA Tri-Party Repurchase Agreement dated 3-28-24 at 5.320% to be repurchased at $11,306,680 on 4-1-24, collateralized by $11,455,000 U.S. Treasury Notes, 4.250% due 2-28-31 (valued at $11,526,063) | 11,300,000 | 11,300,000 |
Total investments (Cost $4,648,983,718) 102.2% | $6,090,063,252 | ||||
Other assets and liabilities, net (2.2%) | (128,197,922) | ||||
Total net assets 100.0% | $5,961,865,330 |
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 3-31-24. |
(B) | Non-income producing security. |
12 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
(C) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
(D) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
(E) | Strike price and/or expiration date not available. |
(F) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |
(G) | The rate shown is the annualized seven-day yield as of 3-31-24. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 13 |
Assets | |
Unaffiliated investments, at value (Cost $4,496,208,178) including $145,346,797 of securities loaned | $5,937,332,390 |
Affiliated investments, at value (Cost $152,775,540) | 152,730,862 |
Total investments, at value (Cost $4,648,983,718) | 6,090,063,252 |
Cash | 1,161 |
Foreign currency, at value (Cost $2,972,168) | 2,938,849 |
Dividends and interest receivable | 35,252,047 |
Receivable for fund shares sold | 4,557,125 |
Receivable for investments sold | 29,221,162 |
Receivable for securities lending income | 138,539 |
Other assets | 763,957 |
Total assets | 6,162,936,092 |
Liabilities | |
Foreign capital gains tax payable | 12,117,850 |
Payable for investments purchased | 19,379,479 |
Payable for fund shares repurchased | 14,993,889 |
Payable upon return of securities loaned | 152,776,145 |
Payable to affiliates | |
Accounting and legal services fees | 350,487 |
Transfer agent fees | 329,993 |
Distribution and service fees | 2,456 |
Trustees’ fees | 15,069 |
Other liabilities and accrued expenses | 1,105,394 |
Total liabilities | 201,070,762 |
Net assets | $5,961,865,330 |
Net assets consist of | |
Paid-in capital | $5,945,383,390 |
Total distributable earnings (loss) | 16,481,940 |
Net assets | $5,961,865,330 |
14 | JOHN HANCOCK International Growth 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 ($487,832,312 ÷ 18,540,554 shares)1 | $26.31 |
Class C ($56,231,688 ÷ 2,248,273 shares)1 | $25.01 |
Class I ($2,660,132,333 ÷ 100,342,937 shares) | $26.51 |
Class R2 ($7,512,021 ÷ 285,711 shares) | $26.29 |
Class R4 ($10,326,557 ÷ 390,390 shares) | $26.45 |
Class R6 ($1,862,072,759 ÷ 70,049,813 shares) | $26.58 |
Class 1 ($55,609,552 ÷ 2,097,177 shares) | $26.52 |
Class NAV ($822,148,108 ÷ 30,986,440 shares) | $26.53 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $27.69 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 15 |
Investment income | |
Dividends | $153,453,467 |
Interest | 4,792,916 |
Securities lending | 870,848 |
Less foreign taxes withheld | (14,261,535) |
Total investment income | 144,855,696 |
Expenses | |
Investment management fees | 50,433,556 |
Distribution and service fees | 2,322,114 |
Accounting and legal services fees | 1,362,274 |
Transfer agent fees | 4,407,983 |
Trustees’ fees | 164,570 |
Custodian fees | 2,571,908 |
State registration fees | 165,334 |
Printing and postage | 426,026 |
Professional fees | 251,408 |
Other | 624,130 |
Total expenses | 62,729,303 |
Less expense reductions | (470,298) |
Net expenses | 62,259,005 |
Net investment income | 82,596,691 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | 89,529,019 |
Affiliated investments | 14,638 |
89,543,657 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | 554,470,710 |
Affiliated investments | (23,107) |
554,447,603 | |
Net realized and unrealized gain | 643,991,260 |
Increase in net assets from operations | $726,587,951 |
16 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Year ended 3-31-24 | Year ended 3-31-23 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $82,596,691 | $114,577,354 |
Net realized gain (loss) | 89,543,657 | (1,032,030,363) |
Change in net unrealized appreciation (depreciation) | 554,447,603 | (302,736,673) |
Increase (decrease) in net assets resulting from operations | 726,587,951 | (1,220,189,682) |
Distributions to shareholders | ||
From earnings | ||
Class A | (10,875,891) | (58,671,285) |
Class C | (1,126,229) | (13,274,712) |
Class I | (71,594,092) | (504,628,457) |
Class R2 | (173,489) | (4,084,956) |
Class R4 | (245,479) | (826,906) |
Class R6 | (48,841,593) | (222,850,526) |
Class 1 | (1,408,257) | (6,694,331) |
Class NAV | (21,450,937) | (90,713,513) |
Total distributions | (155,715,967) | (901,744,686) |
From fund share transactions | (1,573,131,343) | (2,434,699,952) |
Total decrease | (1,002,259,359) | (4,556,634,320) |
Net assets | ||
Beginning of year | 6,964,124,689 | 11,520,759,009 |
End of year | $5,961,865,330 | $6,964,124,689 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 17 |
CLASS A SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.88 | $29.99 | $37.88 | $24.58 | $26.79 |
Net investment income (loss)1 | 0.24 | 0.25 | 0.14 | (0.04) | 0.13 |
Net realized and unrealized gain (loss) on investments | 2.77 | (3.29) | (2.80) | 13.34 | (2.22) |
Total from investment operations | 3.01 | (3.04) | (2.66) | 13.30 | (2.09) |
Less distributions | |||||
From net investment income | (0.58) | — | (0.17) | — | (0.12) |
From net realized gain | — | (3.07) | (5.06) | — | — |
Total distributions | (0.58) | (3.07) | (5.23) | — | (0.12) |
Net asset value, end of period | $26.31 | $23.88 | $29.99 | $37.88 | $24.58 |
Total return (%)2,3 | 12.84 | (9.31) | (8.46) | 54.11 | (7.87) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $488 | $502 | $642 | $670 | $456 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.32 | 1.30 | 1.29 | 1.29 | 1.30 |
Expenses including reductions | 1.32 | 1.29 | 1.28 | 1.28 | 1.29 |
Net investment income (loss) | 1.00 | 0.99 | 0.37 | (0.14) | 0.45 |
Portfolio turnover (%) | 50 | 77 | 78 | 78 | 80 |
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 International Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS C SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $22.73 | $28.91 | $36.78 | $24.03 | $26.27 |
Net investment income (loss)1 | 0.09 | 0.09 | (0.12) | (0.26) | (0.06) |
Net realized and unrealized gain (loss) on investments | 2.61 | (3.20) | (2.69) | 13.01 | (2.18) |
Total from investment operations | 2.70 | (3.11) | (2.81) | 12.75 | (2.24) |
Less distributions | |||||
From net investment income | (0.42) | — | — | — | — |
From net realized gain | — | (3.07) | (5.06) | — | — |
Total distributions | (0.42) | (3.07) | (5.06) | — | — |
Net asset value, end of period | $25.01 | $22.73 | $28.91 | $36.78 | $24.03 |
Total return (%)2,3 | 12.07 | (9.96) | (9.10) | 53.06 | (8.53) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $56 | $96 | $171 | $224 | $181 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 2.02 | 2.00 | 1.99 | 1.99 | 2.00 |
Expenses including reductions | 2.02 | 1.99 | 1.98 | 1.98 | 1.99 |
Net investment income (loss) | 0.39 | 0.36 | (0.32) | (0.81) | (0.24) |
Portfolio turnover (%) | 50 | 77 | 78 | 78 | 80 |
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 | 19 |
CLASS I SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $24.05 | $30.09 | $38.00 | $24.63 | $26.84 |
Net investment income1 | 0.33 | 0.35 | 0.25 | 0.05 | 0.21 |
Net realized and unrealized gain (loss) on investments | 2.79 | (3.32) | (2.81) | 13.40 | (2.22) |
Total from investment operations | 3.12 | (2.97) | (2.56) | 13.45 | (2.01) |
Less distributions | |||||
From net investment income | (0.66) | — | (0.29) | (0.08) | (0.20) |
From net realized gain | — | (3.07) | (5.06) | — | — |
Total distributions | (0.66) | (3.07) | (5.35) | (0.08) | (0.20) |
Net asset value, end of period | $26.51 | $24.05 | $30.09 | $38.00 | $24.63 |
Total return (%)2 | 13.20 | (9.04) | (8.19) | 54.62 | (7.61) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $2,660 | $3,587 | $7,376 | $8,176 | $4,677 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.02 | 1.00 | 0.99 | 0.99 | 1.00 |
Expenses including reductions | 1.02 | 0.99 | 0.98 | 0.98 | 0.99 |
Net investment income | 1.36 | 1.37 | 0.66 | 0.14 | 0.74 |
Portfolio turnover (%) | 50 | 77 | 78 | 78 | 80 |
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 R2 SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $23.87 | $30.00 | $37.89 | $24.60 | $26.82 |
Net investment income (loss)1 | 0.37 | 0.21 | 0.11 | (0.08) | 0.12 |
Net realized and unrealized gain (loss) on investments | 2.61 | (3.27) | (2.81) | 13.37 | (2.25) |
Total from investment operations | 2.98 | (3.06) | (2.70) | 13.29 | (2.13) |
Less distributions | |||||
From net investment income | (0.56) | — | (0.13) | — | (0.09) |
From net realized gain | — | (3.07) | (5.06) | — | — |
Total distributions | (0.56) | (3.07) | (5.19) | — | (0.09) |
Net asset value, end of period | $26.29 | $23.87 | $30.00 | $37.89 | $24.60 |
Total return (%)2 | 12.75 | (9.41) | (8.55) | 54.02 | (7.98) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $8 | $36 | $38 | $50 | $30 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.41 | 1.39 | 1.38 | 1.38 | 1.39 |
Expenses including reductions | 1.40 | 1.38 | 1.37 | 1.37 | 1.38 |
Net investment income (loss) | 1.53 | 0.85 | 0.29 | (0.23) | 0.41 |
Portfolio turnover (%) | 50 | 77 | 78 | 78 | 80 |
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 R4 SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $24.00 | $30.08 | $37.98 | $24.62 | $26.84 |
Net investment income (loss)1 | 0.28 | 0.43 | 0.20 | (0.05) | 0.16 |
Net realized and unrealized gain (loss) on investments | 2.79 | (3.44) | (2.81) | 13.46 | (2.22) |
Total from investment operations | 3.07 | (3.01) | (2.61) | 13.41 | (2.06) |
Less distributions | |||||
From net investment income | (0.62) | — | (0.23) | (0.05) | (0.16) |
From net realized gain | — | (3.07) | (5.06) | — | — |
Total distributions | (0.62) | (3.07) | (5.29) | (0.05) | (0.16) |
Net asset value, end of period | $26.45 | $24.00 | $30.08 | $37.98 | $24.62 |
Total return (%)2 | 13.03 | (9.18) | (8.31) | 54.46 | (7.77) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $10 | $10 | $45 | $49 | $7 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.26 | 1.23 | 1.22 | 1.21 | 1.24 |
Expenses including reductions | 1.15 | 1.12 | 1.11 | 1.10 | 1.13 |
Net investment income (loss) | 1.14 | 1.61 | 0.54 | (0.13) | 0.58 |
Portfolio turnover (%) | 50 | 77 | 78 | 78 | 80 |
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 R6 SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $24.11 | $30.13 | $38.04 | $24.65 | $26.86 |
Net investment income1 | 0.34 | 0.34 | 0.29 | 0.08 | 0.24 |
Net realized and unrealized gain (loss) on investments | 2.81 | (3.29) | (2.81) | 13.42 | (2.22) |
Total from investment operations | 3.15 | (2.95) | (2.52) | 13.50 | (1.98) |
Less distributions | |||||
From net investment income | (0.68) | — | (0.33) | (0.11) | (0.23) |
From net realized gain | — | (3.07) | (5.06) | — | — |
Total distributions | (0.68) | (3.07) | (5.39) | (0.11) | (0.23) |
Net asset value, end of period | $26.58 | $24.11 | $30.13 | $38.04 | $24.65 |
Total return (%)2 | 13.31 | (8.96) | (8.09) | 54.79 | (7.52) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1,862 | $1,908 | $2,333 | $2,441 | $1,434 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.91 | 0.89 | 0.88 | 0.88 | 0.89 |
Expenses including reductions | 0.90 | 0.89 | 0.87 | 0.88 | 0.88 |
Net investment income | 1.40 | 1.37 | 0.78 | 0.25 | 0.85 |
Portfolio turnover (%) | 50 | 77 | 78 | 78 | 80 |
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 1 SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $24.06 | $30.08 | $37.98 | $24.62 | $26.83 |
Net investment income1 | 0.34 | 0.34 | 0.28 | 0.08 | 0.23 |
Net realized and unrealized gain (loss) on investments | 2.79 | (3.29) | (2.80) | 13.38 | (2.22) |
Total from investment operations | 3.13 | (2.95) | (2.52) | 13.46 | (1.99) |
Less distributions | |||||
From net investment income | (0.67) | — | (0.32) | (0.10) | (0.22) |
From net realized gain | — | (3.07) | (5.06) | — | — |
Total distributions | (0.67) | (3.07) | (5.38) | (0.10) | (0.22) |
Net asset value, end of period | $26.52 | $24.06 | $30.08 | $37.98 | $24.62 |
Total return (%)2 | 13.30 | (9.01) | (8.10) | 54.68 | (7.55) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $56 | $58 | $71 | $83 | $59 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.95 | 0.93 | 0.92 | 0.92 | 0.93 |
Expenses including reductions | 0.94 | 0.93 | 0.91 | 0.91 | 0.92 |
Net investment income | 1.38 | 1.34 | 0.74 | 0.23 | 0.82 |
Portfolio turnover (%) | 50 | 77 | 78 | 78 | 80 |
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 |
CLASS NAV SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $24.07 | $30.08 | $37.99 | $24.62 | $26.82 |
Net investment income1 | 0.34 | 0.34 | 0.30 | 0.10 | 0.24 |
Net realized and unrealized gain (loss) on investments | 2.80 | (3.28) | (2.81) | 13.38 | (2.21) |
Total from investment operations | 3.14 | (2.94) | (2.51) | 13.48 | (1.97) |
Less distributions | |||||
From net investment income | (0.68) | — | (0.34) | (0.11) | (0.23) |
From net realized gain | — | (3.07) | (5.06) | — | — |
Total distributions | (0.68) | (3.07) | (5.40) | (0.11) | (0.23) |
Net asset value, end of period | $26.53 | $24.07 | $30.08 | $37.99 | $24.62 |
Total return (%)2 | 13.30 | (8.94) | (8.08) | 54.78 | (7.51) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $822 | $768 | $844 | $1,057 | $854 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.90 | 0.88 | 0.87 | 0.87 | 0.88 |
Expenses including reductions | 0.89 | 0.88 | 0.86 | 0.86 | 0.87 |
Net investment income | 1.38 | 1.34 | 0.80 | 0.30 | 0.87 |
Portfolio turnover (%) | 50 | 77 | 78 | 78 | 80 |
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 | 25 |
26 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT |
Total value at 3-31-24 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Australia | $198,744,275 | — | $198,744,275 | — |
Canada | 228,631,336 | $228,631,336 | — | — |
China | 378,377,114 | 21,854,848 | 356,522,266 | — |
Denmark | 82,414,565 | — | 82,414,565 | — |
France | 740,190,434 | — | 740,190,434 | — |
Germany | 427,025,286 | — | 427,025,286 | — |
Hong Kong | 44,274,156 | — | 44,274,156 | — |
India | 346,545,686 | — | 346,545,686 | — |
Ireland | 417,978,744 | 315,139,089 | 102,839,655 | — |
Italy | 71,635,512 | — | 71,635,512 | — |
Japan | 617,088,152 | — | 617,088,152 | — |
Mexico | 131,608,337 | — | 131,608,337 | — |
Netherlands | 225,296,856 | — | 225,296,856 | — |
Portugal | 74,447,121 | — | 74,447,121 | — |
South Korea | 133,230,596 | — | 133,230,596 | — |
Spain | 150,480,186 | — | 150,480,186 | — |
Sweden | 242,172,474 | 62,760,170 | 179,412,304 | — |
Switzerland | 190,046,280 | — | 190,046,280 | — |
Taiwan | 454,894,703 | — | 454,894,703 | — |
ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 27 |
Total value at 3-31-24 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
United Kingdom | $673,145,890 | — | $673,145,890 | — |
Preferred securities | 86,504,687 | $86,504,687 | — | — |
Warrants | — | — | — | — |
Short-term investments | 175,330,862 | 152,730,862 | 22,600,000 | — |
Total investments in securities | $6,090,063,252 | $867,620,992 | $5,222,442,260 | — |
Level 3 includes securities valued at $0. Refer to Fund’s investments. |
28 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 29 |
March 31, 2024 | March 31, 2023 | |
Ordinary income | $155,715,967 | $1,760 |
Long-term capital gains | — | 901,742,926 |
Total | $155,715,967 | $901,744,686 |
30 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT |
Class | Expense reduction |
Class A | $35,720 |
Class C | 5,445 |
Class I | 220,964 |
Class R2 | 1,164 |
Class R4 | 737 |
Class | Expense reduction |
Class R6 | $135,152 |
Class 1 | 4,010 |
Class NAV | 57,199 |
Total | $460,391 |
ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 31 |
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 | $1,442,774 | $584,341 |
Class C | 737,154 | 89,648 |
Class I | — | 3,638,240 |
32 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT |
Class | Distribution and service fees | Transfer agent fees |
Class R2 | $80,558 | $870 |
Class R4 | 34,643 | 512 |
Class R6 | — | 94,372 |
Class 1 | 26,985 | — |
Total | $2,322,114 | $4,407,983 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Borrower | $13,862,500 | 40 | 5.798% | $(89,308) |
Lender | $18,950,000 | 2 | 5.805% | $6,112 |
Year Ended 3-31-24 | Year Ended 3-31-23 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 3,555,877 | $86,162,587 | 4,121,786 | $102,713,067 |
Distributions reinvested | 431,256 | 10,449,339 | 2,555,111 | 56,442,401 |
Repurchased | (6,469,632) | (154,059,706) | (7,075,660) | (175,487,551) |
Net decrease | (2,482,499) | $(57,447,780) | (398,763) | $(16,332,083) |
Class C shares | ||||
Sold | 64,119 | $1,479,352 | 152,991 | $3,573,163 |
Distributions reinvested | 48,123 | 1,110,685 | 607,044 | 12,784,349 |
Repurchased | (2,076,244) | (47,867,460) | (2,452,425) | (58,086,690) |
Net decrease | (1,964,002) | $(45,277,423) | (1,692,390) | $(41,729,178) |
Class I shares | ||||
Sold | 18,159,564 | $442,198,719 | 58,845,096 | $1,467,041,280 |
Distributions reinvested | 2,619,006 | 63,903,739 | 20,243,461 | 450,012,141 |
Repurchased | (69,574,471) | (1,692,859,577) | (175,049,641) | (4,367,898,361) |
Net decrease | (48,795,901) | $(1,186,757,119) | (95,961,084) | $(2,450,844,940) |
ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 33 |
Year Ended 3-31-24 | Year Ended 3-31-23 | |||
Shares | Amount | Shares | Amount | |
Class R2 shares | ||||
Sold | 78,986 | $1,905,881 | 326,408 | $8,123,696 |
Distributions reinvested | 4,321 | 104,646 | 167,484 | 3,698,042 |
Repurchased | (1,287,112) | (30,632,893) | (283,249) | (6,947,643) |
Net increase (decrease) | (1,203,805) | $(28,622,366) | 210,643 | $4,874,095 |
Class R4 shares | ||||
Sold | 73,773 | $1,791,360 | 158,362 | $3,933,660 |
Distributions reinvested | 10,081 | 245,479 | 37,265 | 826,906 |
Repurchased | (94,559) | (2,334,168) | (1,285,733) | (35,739,428) |
Net decrease | (10,705) | $(297,329) | (1,090,106) | $(30,978,862) |
Class R6 shares | ||||
Sold | 10,167,478 | $247,877,134 | 14,240,010 | $359,571,642 |
Distributions reinvested | 1,935,852 | 47,331,584 | 9,895,144 | 220,463,812 |
Repurchased | (21,184,871) | (517,410,256) | (22,459,754) | (568,706,165) |
Net increase (decrease) | (9,081,541) | $(222,201,538) | 1,675,400 | $11,329,289 |
Class 1 shares | ||||
Sold | 128,108 | $3,150,119 | 172,182 | $4,299,192 |
Distributions reinvested | 57,715 | 1,408,257 | 301,139 | 6,694,331 |
Repurchased | (486,012) | (11,824,905) | (442,864) | (11,026,986) |
Net increase (decrease) | (300,189) | $(7,266,529) | 30,457 | $(33,463) |
Class NAV shares | ||||
Sold | 2,401,335 | $57,473,973 | 2,471,385 | $63,296,784 |
Distributions reinvested | 878,777 | 21,450,937 | 4,078,845 | 90,713,513 |
Repurchased | (4,205,054) | (104,186,169) | (2,705,530) | (64,995,107) |
Net increase (decrease) | (924,942) | $(25,261,259) | 3,844,700 | $89,015,190 |
Total net decrease | (64,763,584) | $(1,573,131,343) | (93,381,143) | $(2,434,699,952) |
34 | JOHN HANCOCK International Growth Fund | ANNUAL REPORT |
Dividends and distributions | |||||||||
Affiliate | Ending share amount | Beginning value | Cost of purchases | Proceeds from shares sold | Realized gain (loss) | Change in unrealized appreciation (depreciation) | Income distributions received | Capital gain distributions received | Ending value |
John Hancock Collateral Trust* | 15,277,058 | $201,889,403 | $851,406,600 | $(900,556,672) | $14,638 | $(23,107) | $870,848 | — | $152,730,862 |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
ANNUAL REPORT | JOHN HANCOCK International Growth Fund | 35 |
36 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 37 |
• | The Fund’s investment strategy remained appropriate for an open-end fund structure; |
• | The Fund was able to meet requests for redemption without significant dilution of remaining shareholders’ interests in the Fund; |
38 | JOHN HANCOCK INTERNATIONAL GROWTH 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 INTERNATIONAL GROWTH FUND | 39 |
Independent Trustees | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Hassell H. McClellan,2 Born: 1945 | 2012 | 183 |
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 | 178 |
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,3 Born: 1944 | 2006 | 180 |
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 | 178 |
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 (2021–2023), Board Member, Congressional Black Caucus Foundation (since 2024). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | ||
Grace K. Fey, Born: 1946 | 2012 | 183 |
Trustee | ||
Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
40 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
Independent Trustees (continued) | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Dean C. Garfield, Born: 1968 | 2022 | 178 |
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); Advisory Board Member of the Block Center for Technology and Society (since 2019). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | ||
Deborah C. Jackson, Born: 1952 | 2008 | 181 |
Trustee | ||
President, Cambridge College, Cambridge, Massachusetts (2011-2023); 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). | ||
Steven R. Pruchansky, Born: 1944 | 2006 | 178 |
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,3 Born: 1960 | 2020 | 178 |
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 | 178 |
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 INTERNATIONAL GROWTH FUND | 41 |
Non-Independent Trustees4 | ||
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 | 180 |
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 (2018-2023); Director and Chairman, John Hancock Investment Management LLC (2005-2023, including prior positions); Director and Chairman, John Hancock Variable Trust Advisers LLC (2006-2023, including prior positions); Director and Chairman, John Hancock Investment Management Distributors LLC (2004-2023, including prior positions); President of various trusts within the John Hancock Fund Complex (2007-2023, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | ||
Paul Lorentz, Born: 1968 | 2022 | 178 |
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 |
Kristie M. Feinberg, Born: 1975 | 2023 |
President | |
Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2023); Director and Chairman, John Hancock Investment Management LLC (since 2023); Director and Chairman, John Hancock Variable Trust Advisers LLC (since 2023); Director and Chairman, John Hancock Investment Management Distributors LLC (since 2023); CFO and Global Head of Strategy, Manulife Investment Management (2021-2023, including prior positions); CFO Americas & Global Head of Treasury, Invesco, Ltd., Invesco US (2019-2020, including prior positions); Senior Vice President, Corporate Treasurer and Business Controller, Oppenheimer Funds (2001-2019, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2023). | |
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). |
42 | JOHN HANCOCK INTERNATIONAL GROWTH 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 as of September 26, 2023. |
3 | Member of the Audit Committee. |
4 | The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates. |
ANNUAL REPORT | JOHN HANCOCK INTERNATIONAL GROWTH FUND | 43 |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
William H. Cunningham*
Noni L. Ellison
Grace K. Fey
Dean C. Garfield
Deborah C. Jackson
Paul Lorentz†
Frances G. Rathke*
Gregory A. Russo
President
Chief Financial Officer
Treasurer
Secretary and Chief Legal Officer
Chief Compliance Officer
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 |
44 | JOHN HANCOCK INTERNATIONAL GROWTH FUND | ANNUAL REPORT |
GOVERNANCE FUNDS
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
MF3506308 | 87A 3/24 |
United States and Europe
Manulife Investment Management
John Hancock Investment Management
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 3/31/2024 (% of net assets) | |
Microsoft Corp. | 12.1 |
NVIDIA Corp. | 7.6 |
Amazon.com, Inc. | 7.4 |
Alphabet, Inc., Class A | 7.3 |
Meta Platforms, Inc., Class A | 5.3 |
Apple, Inc. | 5.2 |
Visa, Inc., Class A | 2.8 |
UnitedHealth Group, Inc. | 2.6 |
Mastercard, Inc., Class A | 2.6 |
Netflix, Inc. | 2.1 |
TOTAL | 55.0 |
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 | 38.80 | 15.49 | 13.76 | 105.42 | 262.96 |
Class C1 | 44.01 | 15.80 | 13.53 | 108.25 | 255.76 |
Class I2 | 46.50 | 16.96 | 14.65 | 118.87 | 292.41 |
Class R21,2 | 45.88 | 16.51 | 14.22 | 114.65 | 277.83 |
Class R41,2 | 46.38 | 16.85 | 14.49 | 117.83 | 287.04 |
Class R61,2 | 46.61 | 17.08 | 14.73 | 120.03 | 295.19 |
Class NAV2 | 46.64 | 17.09 | 14.80 | 120.13 | 297.68 |
Index† | 39.00 | 18.52 | 15.98 | 133.85 | 340.42 |
Class A | Class C | Class I | Class R2 | Class R4 | Class R6 | Class NAV | |
Gross (%) | 0.99 | 1.74 | 0.74 | 1.13 | 0.98 | 0.63 | 0.62 |
Net (%) | 0.98 | 1.73 | 0.73 | 1.12 | 0.87 | 0.63 | 0.62 |
6 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class C1,3 | 3-31-14 | 35,576 | 35,576 | 44,042 |
Class I2 | 3-31-14 | 39,241 | 39,241 | 44,042 |
Class R21,2 | 3-31-14 | 37,783 | 37,783 | 44,042 |
Class R41,2 | 3-31-14 | 38,704 | 38,704 | 44,042 |
Class R61,2 | 3-31-14 | 39,519 | 39,519 | 44,042 |
Class NAV2 | 3-31-14 | 39,768 | 39,768 | 44,042 |
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 10-1-2023 | Ending value on 3-31-2024 | Expenses paid during period ended 3-31-20241 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,305.90 | $5.65 | 0.98% |
Hypothetical example | 1,000.00 | 1,020.10 | 4.95 | 0.98% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,301.20 | 9.95 | 1.73% |
Hypothetical example | 1,000.00 | 1,016.40 | 8.72 | 1.73% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,307.40 | 4.21 | 0.73% |
Hypothetical example | 1,000.00 | 1,021.40 | 3.69 | 0.73% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 1,304.50 | 6.34 | 1.10% |
Hypothetical example | 1,000.00 | 1,019.50 | 5.55 | 1.10% | |
Class R4 | Actual expenses/actual returns | 1,000.00 | 1,306.90 | 5.08 | 0.88% |
Hypothetical example | 1,000.00 | 1,020.60 | 4.45 | 0.88% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,308.00 | 3.58 | 0.62% |
Hypothetical example | 1,000.00 | 1,021.90 | 3.13 | 0.62% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 1,308.20 | 3.52 | 0.61% |
Hypothetical example | 1,000.00 | 1,022.00 | 3.08 | 0.61% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period). |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 9 |
Shares | Value | ||||
Common stocks 99.2% | $1,387,800,762 | ||||
(Cost $795,482,791) | |||||
Communication services 16.9% | 236,694,986 | ||||
Entertainment 3.2% | |||||
Netflix, Inc. (A) | 48,096 | 29,210,144 | |||
Spotify Technology SA (A) | 61,625 | 16,262,838 | |||
Interactive media and services 13.7% | |||||
Alphabet, Inc., Class A (A) | 680,332 | 102,682,509 | |||
Meta Platforms, Inc., Class A | 151,913 | 73,765,915 | |||
Pinterest, Inc., Class A (A) | 426,120 | 14,773,580 | |||
Consumer discretionary 14.4% | 201,104,699 | ||||
Broadline retail 7.4% | |||||
Amazon.com, Inc. (A) | 574,721 | 103,668,173 | |||
Hotels, restaurants and leisure 3.0% | |||||
Booking Holdings, Inc. | 6,238 | 22,630,715 | |||
DraftKings, Inc., Class A (A) | 411,052 | 18,665,871 | |||
Household durables 1.4% | |||||
Lennar Corp., Class A | 114,901 | 19,760,674 | |||
Specialty retail 2.6% | |||||
AutoZone, Inc. (A) | 5,001 | 15,761,402 | |||
O’Reilly Automotive, Inc. (A) | 18,264 | 20,617,864 | |||
Consumer staples 1.4% | 19,090,057 | ||||
Beverages 1.4% | |||||
Monster Beverage Corp. (A) | 322,032 | 19,090,057 | |||
Financials 13.5% | 188,798,099 | ||||
Capital markets 4.3% | |||||
Ares Management Corp., Class A | 146,417 | 19,470,533 | |||
KKR & Company, Inc. | 222,662 | 22,395,344 | |||
S&P Global, Inc. | 43,252 | 18,401,563 | |||
Consumer finance 1.3% | |||||
American Express Company | 79,815 | 18,173,077 | |||
Financial services 6.5% | |||||
Corpay, Inc. (A) | 49,308 | 15,213,490 | |||
Mastercard, Inc., Class A | 75,203 | 36,215,509 | |||
Visa, Inc., Class A | 143,377 | 40,013,653 | |||
Insurance 1.4% | |||||
The Progressive Corp. | 91,456 | 18,914,930 |
10 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Health care 9.1% | $127,982,870 | ||||
Health care providers and services 6.6% | |||||
Cencora, Inc. | 85,971 | 20,890,093 | |||
McKesson Corp. | 33,546 | 18,009,170 | |||
Molina Healthcare, Inc. (A) | 42,326 | 17,388,791 | |||
UnitedHealth Group, Inc. | 74,203 | 36,708,224 | |||
Life sciences tools and services 1.2% | |||||
ICON PLC (A) | 48,607 | 16,329,522 | |||
Pharmaceuticals 1.3% | |||||
Merck & Company, Inc. | 141,395 | 18,657,070 | |||
Industrials 4.3% | 60,046,145 | ||||
Building products 1.4% | |||||
Builders FirstSource, Inc. (A) | 95,237 | 19,861,676 | |||
Commercial services and supplies 1.1% | |||||
Clean Harbors, Inc. (A) | 75,391 | 15,176,962 | |||
Ground transportation 1.8% | |||||
Uber Technologies, Inc. (A) | 324,815 | 25,007,507 | |||
Information technology 37.3% | 522,541,985 | ||||
Electronic equipment, instruments and components 2.2% | |||||
Flex, Ltd. (A) | 501,825 | 14,357,213 | |||
Jabil, Inc. | 121,839 | 16,320,334 | |||
IT services 3.2% | |||||
Accenture PLC, Class A | 81,710 | 28,321,503 | |||
Gartner, Inc. (A) | 33,037 | 15,747,747 | |||
Semiconductors and semiconductor equipment 8.8% | |||||
KLA Corp. | 24,266 | 16,951,500 | |||
NVIDIA Corp. | 117,986 | 106,607,430 | |||
Software 17.9% | |||||
Intuit, Inc. | 37,061 | 24,089,650 | |||
Microsoft Corp. | 402,664 | 169,408,798 | |||
PTC, Inc. (A) | 78,100 | 14,756,214 | |||
Salesforce, Inc. | 84,788 | 25,536,450 | |||
Workday, Inc., Class A (A) | 62,397 | 17,018,782 | |||
Technology hardware, storage and peripherals 5.2% | |||||
Apple, Inc. | 428,192 | 73,426,364 | |||
Real estate 2.3% | 31,541,921 | ||||
Real estate management and development 1.2% | |||||
CBRE Group, Inc., Class A (A) | 166,537 | 16,194,058 | |||
Specialized REITs 1.1% | |||||
Iron Mountain, Inc. | 191,346 | 15,347,863 | |||
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 11 |
Yield (%) | Shares | Value | |||
Short-term investments 1.2% | $17,206,192 | ||||
(Cost $17,206,192) | |||||
Short-term funds 1.2% | 17,206,192 | ||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 5.2417(B) | 17,206,192 | 17,206,192 |
Total investments (Cost $812,688,983) 100.4% | $1,405,006,954 | ||||
Other assets and liabilities, net (0.4%) | (5,798,432) | ||||
Total net assets 100.0% | $1,399,208,522 |
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 3-31-24. |
12 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Assets | |
Unaffiliated investments, at value (Cost $812,688,983) | $1,405,006,954 |
Dividends and interest receivable | 522,065 |
Receivable for fund shares sold | 573,584 |
Other assets | 151,094 |
Total assets | 1,406,253,697 |
Liabilities | |
Payable for investments purchased | 6,587,774 |
Payable for fund shares repurchased | 136,475 |
Payable to affiliates | |
Accounting and legal services fees | 82,591 |
Transfer agent fees | 113,900 |
Distribution and service fees | 1,471 |
Trustees’ fees | 2,102 |
Other liabilities and accrued expenses | 120,862 |
Total liabilities | 7,045,175 |
Net assets | $1,399,208,522 |
Net assets consist of | |
Paid-in capital | $738,372,517 |
Total distributable earnings (loss) | 660,836,005 |
Net assets | $1,399,208,522 |
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 ($768,133,345 ÷ 30,173,737 shares)1 | $25.46 |
Class C ($23,460,333 ÷ 995,542 shares)1 | $23.57 |
Class I ($343,104,957 ÷ 13,183,025 shares) | $26.03 |
Class R2 ($1,349,031 ÷ 52,693 shares) | $25.60 |
Class R4 ($16,111,848 ÷ 619,600 shares) | $26.00 |
Class R6 ($175,153,729 ÷ 6,683,067 shares) | $26.21 |
Class NAV ($71,895,279 ÷ 2,743,946 shares) | $26.20 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $26.80 |
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 | $6,287,650 |
Interest | 3,013 |
Securities lending | 67 |
Total investment income | 6,290,730 |
Expenses | |
Investment management fees | 6,369,607 |
Distribution and service fees | 1,814,505 |
Accounting and legal services fees | 251,445 |
Transfer agent fees | 1,158,800 |
Trustees’ fees | 26,783 |
Custodian fees | 139,381 |
State registration fees | 130,803 |
Printing and postage | 61,985 |
Professional fees | 78,682 |
Other | 59,032 |
Total expenses | 10,091,023 |
Less expense reductions | (86,720) |
Net expenses | 10,004,303 |
Net investment loss | (3,713,573) |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments | 112,296,329 |
Affiliated investments | 54 |
112,296,383 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments | 335,146,098 |
335,146,098 | |
Net realized and unrealized gain | 447,442,481 |
Increase in net assets from operations | $443,728,908 |
14 | JOHN HANCOCK U.S. Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Year ended 3-31-24 | Year ended 3-31-23 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income (loss) | $(3,713,573) | $747,905 |
Net realized gain | 112,296,383 | 24,562,260 |
Change in net unrealized appreciation (depreciation) | 335,146,098 | (168,714,240) |
Increase (decrease) in net assets resulting from operations | 443,728,908 | (143,404,075) |
Distributions to shareholders | ||
From earnings | ||
Class A | (32,190,545) | (52,473,465) |
Class C | (1,080,252) | (2,139,626) |
Class I | (14,531,122) | (23,364,807) |
Class R2 | (60,657) | (123,707) |
Class R4 | (846) | (1,417) |
Class R6 | (7,204,381) | (11,875,722) |
Class NAV | (2,907,566) | (4,145,376) |
Total distributions | (57,975,369) | (94,124,120) |
From fund share transactions | 17,926,487 | (13,096,826) |
Total increase (decrease) | 403,680,026 | (250,625,021) |
Net assets | ||
Beginning of year | 995,528,496 | 1,246,153,517 |
End of year | $1,399,208,522 | $995,528,496 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 15 |
CLASS A SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $18.30 | $22.99 | $23.96 | $16.24 | $16.23 |
Net investment income (loss)1 | (0.09) | (0.01) | (0.10) | (0.07) | 0.01 |
Net realized and unrealized gain (loss) on investments | 8.36 | (2.76) | 2.75 | 8.40 | —2 |
Total from investment operations | 8.27 | (2.77) | 2.65 | 8.33 | 0.01 |
Less distributions | |||||
From net realized gain | (1.11) | (1.92) | (3.62) | (0.61) | — |
Net asset value, end of period | $25.46 | $18.30 | $22.99 | $23.96 | $16.24 |
Total return (%)3,4 | 46.08 | (11.22) | 10.06 | 51.37 | 0.06 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $768 | $547 | $670 | $653 | $458 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.99 | 0.99 | 0.96 | 1.01 | 1.01 |
Expenses including reductions | 0.98 | 0.98 | 0.96 | 1.00 | 1.00 |
Net investment income (loss) | (0.44) | (0.04) | (0.40) | (0.31) | 0.03 |
Portfolio turnover (%) | 69 | 103 | 91 | 101 | 915 |
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. |
16 | JOHN HANCOCK U.S. Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS C SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $17.13 | $21.84 | $23.08 | $15.77 | $15.88 |
Net investment loss1 | (0.24) | (0.14) | (0.28) | (0.23) | (0.12) |
Net realized and unrealized gain (loss) on investments | 7.79 | (2.65) | 2.66 | 8.15 | 0.01 |
Total from investment operations | 7.55 | (2.79) | 2.38 | 7.92 | (0.11) |
Less distributions | |||||
From net realized gain | (1.11) | (1.92) | (3.62) | (0.61) | — |
Net asset value, end of period | $23.57 | $17.13 | $21.84 | $23.08 | $15.77 |
Total return (%)2,3 | 45.01 | (11.93) | 9.25 | 50.29 | (0.69) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $23 | $19 | $30 | $35 | $23 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.74 | 1.74 | 1.71 | 1.76 | 1.76 |
Expenses including reductions | 1.73 | 1.73 | 1.71 | 1.75 | 1.75 |
Net investment loss | (1.19) | (0.78) | (1.15) | (1.07) | (0.72) |
Portfolio turnover (%) | 69 | 103 | 91 | 101 | 914 |
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. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 17 |
CLASS I SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $18.66 | $23.35 | $24.23 | $16.38 | $16.36 |
Net investment income (loss)1 | (0.04) | 0.04 | (0.04) | (0.01) | 0.05 |
Net realized and unrealized gain (loss) on investments | 8.55 | (2.81) | 2.78 | 8.49 | (0.01) |
Total from investment operations | 8.51 | (2.77) | 2.74 | 8.48 | 0.04 |
Less distributions | |||||
From net investment income | (0.03) | — | — | (0.02) | (0.02) |
From net realized gain | (1.11) | (1.92) | (3.62) | (0.61) | — |
Total distributions | (1.14) | (1.92) | (3.62) | (0.63) | (0.02) |
Net asset value, end of period | $26.03 | $18.66 | $23.35 | $24.23 | $16.38 |
Total return (%)2 | 46.50 | (11.05) | 10.33 | 51.84 | 0.26 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $343 | $262 | $347 | $408 | $321 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.74 | 0.74 | 0.71 | 0.76 | 0.76 |
Expenses including reductions | 0.73 | 0.73 | 0.71 | 0.75 | 0.75 |
Net investment income (loss) | (0.18) | 0.21 | (0.16) | (0.06) | 0.28 |
Portfolio turnover (%) | 69 | 103 | 91 | 101 | 913 |
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. |
18 | JOHN HANCOCK U.S. Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R2 SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $18.42 | $23.16 | $24.15 | $16.38 | $16.40 |
Net investment loss1 | (0.12) | (0.03) | (0.14) | (0.10) | (0.02) |
Net realized and unrealized gain (loss) on investments | 8.41 | (2.79) | 2.77 | 8.48 | —2 |
Total from investment operations | 8.29 | (2.82) | 2.63 | 8.38 | (0.02) |
Less distributions | |||||
From net realized gain | (1.11) | (1.92) | (3.62) | (0.61) | — |
Net asset value, end of period | $25.60 | $18.42 | $23.16 | $24.15 | $16.38 |
Total return (%)3 | 45.88 | (11.36) | 9.89 | 51.24 | (0.12) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1 | $1 | $2 | $1 | $1 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.11 | 1.12 | 1.10 | 1.14 | 1.15 |
Expenses including reductions | 1.10 | 1.11 | 1.09 | 1.13 | 1.14 |
Net investment loss | (0.56) | (0.16) | (0.54) | (0.45) | (0.11) |
Portfolio turnover (%) | 69 | 103 | 91 | 101 | 914 |
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. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 19 |
CLASS R4 SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $18.65 | $23.36 | $24.25 | $16.41 | $16.39 |
Net investment income (loss)1 | (0.08) | 0.02 | (0.05) | (0.03) | 0.03 |
Net realized and unrealized gain (loss) on investments | 8.56 | (2.81) | 2.78 | 8.48 | —2 |
Total from investment operations | 8.48 | (2.79) | 2.73 | 8.45 | 0.03 |
Less distributions | |||||
From net investment income | (0.02) | — | — | —2 | (0.01) |
From net realized gain | (1.11) | (1.92) | (3.62) | (0.61) | — |
Total distributions | (1.13) | (1.92) | (3.62) | (0.61) | (0.01) |
Net asset value, end of period | $26.00 | $18.65 | $23.36 | $24.25 | $16.41 |
Total return (%)3 | 46.38 | (11.13) | 10.27 | 51.59 | 0.17 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $16 | $—4 | $—4 | $—4 | $1 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.97 | 0.95 | 0.89 | 1.00 | 1.00 |
Expenses including reductions | 0.86 | 0.84 | 0.79 | 0.89 | 0.89 |
Net investment income (loss) | (0.28) | 0.12 | (0.23) | (0.14) | 0.15 |
Portfolio turnover (%) | 69 | 103 | 91 | 101 | 915 |
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. |
20 | JOHN HANCOCK U.S. Growth Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R6 SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $18.78 | $23.45 | $24.30 | $16.42 | $16.39 |
Net investment income (loss)1 | (0.02) | 0.06 | (0.01) | 0.01 | 0.07 |
Net realized and unrealized gain (loss) on investments | 8.60 | (2.81) | 2.78 | 8.51 | —2 |
Total from investment operations | 8.58 | (2.75) | 2.77 | 8.52 | 0.07 |
Less distributions | |||||
From net investment income | (0.04) | — | — | (0.03) | (0.04) |
From net realized gain | (1.11) | (1.92) | (3.62) | (0.61) | — |
Total distributions | (1.15) | (1.92) | (3.62) | (0.64) | (0.04) |
Net asset value, end of period | $26.21 | $18.78 | $23.45 | $24.30 | $16.42 |
Total return (%)3 | 46.61 | (10.91) | 10.43 | 51.96 | 0.38 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $175 | $121 | $145 | $147 | $99 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.63 | 0.63 | 0.61 | 0.65 | 0.65 |
Expenses including reductions | 0.62 | 0.63 | 0.60 | 0.64 | 0.64 |
Net investment income (loss) | (0.07) | 0.32 | (0.05) | 0.04 | 0.37 |
Portfolio turnover (%) | 69 | 103 | 91 | 101 | 914 |
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. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 21 |
CLASS NAV SHARES Period ended | 3-31-24 | 3-31-23 | 3-31-22 | 3-31-21 | 3-31-20 |
Per share operating performance | |||||
Net asset value, beginning of period | $18.77 | $23.45 | $24.29 | $16.41 | $16.38 |
Net investment income (loss)1 | (0.01) | 0.06 | (0.01) | 0.01 | 0.07 |
Net realized and unrealized gain (loss) on investments | 8.59 | (2.82) | 2.79 | 8.51 | —2 |
Total from investment operations | 8.58 | (2.76) | 2.78 | 8.52 | 0.07 |
Less distributions | |||||
From net investment income | (0.04) | — | — | (0.03) | (0.04) |
From net realized gain | (1.11) | (1.92) | (3.62) | (0.61) | — |
Total distributions | (1.15) | (1.92) | (3.62) | (0.64) | (0.04) |
Net asset value, end of period | $26.20 | $18.77 | $23.45 | $24.29 | $16.41 |
Total return (%)3 | 46.64 | (10.96) | 10.48 | 52.01 | 0.39 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $72 | $45 | $52 | $54 | $40 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.62 | 0.62 | 0.60 | 0.64 | 0.64 |
Expenses including reductions | 0.61 | 0.62 | 0.59 | 0.63 | 0.63 |
Net investment income (loss) | (0.07) | 0.33 | (0.04) | 0.06 | 0.41 |
Portfolio turnover (%) | 69 | 103 | 91 | 101 | 914 |
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. |
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, 2024 | March 31, 2023 | |
Ordinary income | $7,505,143 | — |
Long-term capital gains | 50,470,226 | $94,124,120 |
Total | $57,975,369 | $94,124,120 |
ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 25 |
Class | Expense reduction |
Class A | $47,492 |
Class C | 1,553 |
Class I | 21,453 |
Class R2 | 90 |
Class | Expense reduction |
Class R4 | $109 |
Class R6 | 10,536 |
Class NAV | 4,181 |
Total | $85,414 |
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% |
Class | Distribution and service fees | Transfer agent fees |
Class A | $1,595,169 | $775,377 |
ANNUAL REPORT | JOHN HANCOCK U.S. Growth Fund | 27 |
Class | Distribution and service fees | Transfer agent fees |
Class C | $208,970 | $25,393 |
Class I | — | 350,644 |
Class R2 | 5,896 | 63 |
Class R4 | 4,470 | 59 |
Class R6 | — | 7,264 |
Total | $1,814,505 | $1,158,800 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Lender | $3,150,000 | 6 | 5.639% | $2,960 |
Year Ended 3-31-24 | Year Ended 3-31-23 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 2,656,205 | $57,412,433 | 1,802,319 | $34,073,217 |
Distributions reinvested | 1,430,523 | 31,657,465 | 3,096,748 | 51,498,951 |
Repurchased | (3,797,636) | (81,839,619) | (4,163,977) | (79,567,057) |
Net increase | 289,092 | $7,230,279 | 735,090 | $6,005,111 |
Class C shares | ||||
Sold | 179,237 | $3,574,561 | 76,383 | $1,375,885 |
Distributions reinvested | 52,568 | 1,079,229 | 137,042 | 2,137,853 |
Repurchased | (363,956) | (7,246,335) | (472,717) | (8,404,996) |
Net decrease | (132,151) | $(2,592,545) | (259,292) | $(4,891,258) |
Class I shares | ||||
Sold | 2,928,093 | $65,999,253 | 4,226,606 | $80,874,177 |
Distributions reinvested | 642,011 | 14,515,877 | 1,376,354 | 23,329,193 |
Repurchased | (4,413,852) | (96,739,681) | (6,429,940) | (125,779,097) |
Net decrease | (843,748) | $(16,224,551) | (826,980) | $(21,575,727) |
28 | JOHN HANCOCK U.S. Growth Fund | ANNUAL REPORT |
Year Ended 3-31-24 | Year Ended 3-31-23 | |||
Shares | Amount | Shares | Amount | |
Class R2 shares | ||||
Sold | 8,893 | $182,093 | 8,565 | $170,572 |
Distributions reinvested | 2,559 | 56,990 | 6,625 | 110,964 |
Repurchased | (27,234) | (564,141) | (11,523) | (215,716) |
Net increase (decrease) | (15,782) | $(325,058) | 3,667 | $65,820 |
Class R4 shares | ||||
Sold | 620,600 | $15,778,814 | 559 | $10,468 |
Distributions reinvested | 11 | 241 | 23 | 392 |
Repurchased | (1,777) | (45,525) | — | — |
Net increase | 618,834 | $15,733,530 | 582 | $10,860 |
Class R6 shares | ||||
Sold | 1,636,063 | $36,729,308 | 1,245,396 | $24,849,817 |
Distributions reinvested | 316,176 | 7,196,156 | 696,523 | 11,875,722 |
Repurchased | (1,722,243) | (37,527,756) | (1,675,915) | (32,375,118) |
Net increase | 229,996 | $6,397,708 | 266,004 | $4,350,421 |
Class NAV shares | ||||
Sold | 456,152 | $10,197,614 | 206,786 | $4,035,518 |
Distributions reinvested | 127,749 | 2,907,566 | 243,131 | 4,145,376 |
Repurchased | (245,522) | (5,398,056) | (268,244) | (5,242,947) |
Net increase | 338,379 | $7,707,124 | 181,673 | $2,937,947 |
Total net increase (decrease) | 484,620 | $17,926,487 | 100,744 | $(13,096,826) |
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* | — | — | $3,072,650 | $(3,072,704) | $54 | — | $67 | — | — |
* | 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,2 Born: 1945 | 2012 | 183 |
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 | 178 |
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,3 Born: 1944 | 2006 | 180 |
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 | 178 |
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 (2021–2023), Board Member, Congressional Black Caucus Foundation (since 2024). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | ||
Grace K. Fey, Born: 1946 | 2012 | 183 |
Trustee | ||
Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 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 |
Dean C. Garfield, Born: 1968 | 2022 | 178 |
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); Advisory Board Member of the Block Center for Technology and Society (since 2019). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | ||
Deborah C. Jackson, Born: 1952 | 2008 | 181 |
Trustee | ||
President, Cambridge College, Cambridge, Massachusetts (2011-2023); 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). | ||
Steven R. Pruchansky, Born: 1944 | 2006 | 178 |
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,3 Born: 1960 | 2020 | 178 |
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 | 178 |
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 Trustees4 | ||
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 | 180 |
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 (2018-2023); Director and Chairman, John Hancock Investment Management LLC (2005-2023, including prior positions); Director and Chairman, John Hancock Variable Trust Advisers LLC (2006-2023, including prior positions); Director and Chairman, John Hancock Investment Management Distributors LLC (2004-2023, including prior positions); President of various trusts within the John Hancock Fund Complex (2007-2023, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | ||
Paul Lorentz, Born: 1968 | 2022 | 178 |
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 |
Kristie M. Feinberg, Born: 1975 | 2023 |
President | |
Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2023); Director and Chairman, John Hancock Investment Management LLC (since 2023); Director and Chairman, John Hancock Variable Trust Advisers LLC (since 2023); Director and Chairman, John Hancock Investment Management Distributors LLC (since 2023); CFO and Global Head of Strategy, Manulife Investment Management (2021-2023, including prior positions); CFO Americas & Global Head of Treasury, Invesco, Ltd., Invesco US (2019-2020, including prior positions); Senior Vice President, Corporate Treasurer and Business Controller, Oppenheimer Funds (2001-2019, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2023). | |
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 as of September 26, 2023. |
3 | Member of the Audit Committee. |
4 | The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates. |
38 | JOHN HANCOCK U.S. GROWTH FUND | ANNUAL REPORT |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
William H. Cunningham*
Noni L. Ellison
Grace K. Fey
Dean C. Garfield
Deborah C. Jackson
Paul Lorentz†
Frances G. Rathke*
Gregory A. Russo
President
Chief Financial Officer
Treasurer
Secretary and Chief Legal Officer
Chief Compliance Officer
You can also contact us: | ||
800-225-5291 | Regular mail: | Express mail: |
jhinvestments.com | John Hancock Signature Services, Inc. P.O. Box 219909 Kansas City, MO 64121-9909 | John Hancock Signature Services, Inc. 430 W 7th Street Suite 219909 Kansas City, MO 64105-1407 |
ANNUAL REPORT | JOHN HANCOCK U.S. GROWTH FUND | 39 |
GOVERNANCE FUNDS
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
MF3506291 | 393A 3/24 |
ITEM 2. CODE OF ETHICS.
As of the end of the year, March 31, 2024, the registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its Chief Executive Officer, Chief Financial Officer and Treasurer (respectively, the principal executive officer, the principal financial officer and the principal accounting officer, the "Covered Officers"). A copy of the code of ethics is filed as an exhibit to this Form N-CSR.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Frances G. Rathke is the audit committee financial expert and is "independent", pursuant to general instructions on Form N-CSR Item 3.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
(a) Audit Fees
The aggregate fees billed for professional services rendered by the principal accountant for the audits of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements amounted to the following for the fiscal years ended March 31, 2024 and 2023. These fees were billed to the registrant and were approved by the registrant's audit committee.
Fund |
| March 31, 2024 |
| March 31, 2023 |
Disciplined Value Fund | $ | 43,612 | $ | 41,842 |
Disciplined Value Mid Cap Fund |
| 56,353 |
| 54,077 |
Global Shareholder Yield Fund |
| 44,266 |
| 42,470 |
International Growth Fund |
| 58,601 |
| 56,252 |
U.S. Growth Fund |
| 45,063 |
| 443,235 |
Total | $ | 247,895 | $ | 237,876 |
(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, reviews for supplemental regulatory filings and software licensing fees. Amounts billed to the registrant were as follows:
Fund |
| March 31, 2024 |
| March 31, 2023 |
Disciplined Value Fund | $ | 629 | $ | 586 |
Disciplined Value Mid Cap Fund |
| 629 |
| 586 |
Global Shareholder Yield |
| 8,129 |
| 586 |
International Growth |
| 629 |
| 586 |
U.S. Growth Fund |
| 629 |
| 586 |
Total | $ | 10,645 | $ | 2,930 |
Amounts billed to control affiliates were $127,986 and $121,890 for the fiscal years ended March 31, 2024 and 2023, respectively.
(c) Tax Fees
The aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning ("tax fees") amounted to the following for the fiscal years ended March 31, 2024 and 2023. 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, 2024 |
| March 31, 2023 |
Disciplined Value Fund | $ | 6,355 | $ | 4,110 |
Disciplined Value Mid Cap Fund |
| 6,355 |
| 4,110 |
Global Shareholder Yield |
| 5,567 |
| 4,110 |
International Growth |
| 4,881 |
| 4,716 |
U.S. Growth Fund |
| 4,254 |
| 4,110 |
Total | $ | 27,412 | $ | 21,156 |
(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,
2024 and 2023:
Fund | March 31, 2024 |
| March 31, 2023 | |
Disciplined Value Fund | $ | 369 | $ | 163 |
Disciplined Value Mid Cap Fund |
| 369 |
| 163 |
Global Shareholder Yield |
| 369 |
| 163 |
International Growth |
| 369 |
| 163 |
U.S. Growth Fund |
| 369 |
| 163 |
Total | $ | 1,845 | $ | 815 |
(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, 2024, the percentage of hours spent on the audit of the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons who were not full-time, permanent employees of principal accountant was less than 50%.
(g)The aggregate non-audit fees billed by the registrant's principal accountant for non-audit services rendered to the registrant and rendered to the registrant's control affiliates were $1,031,920 for the fiscal year ended March 31, 2024 and $1,220,892 for the fiscal year ended March 31, 2023.
(h)The audit committee of the registrant has considered the non-audit services provided by the registrant's principal accountant to the control affiliates and has determined that the services that were not pre-approved are compatible with maintaining the principal accountant's independence.
(i)Not applicable
(j)Not applicable
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
The registrant has a separately-designated standing audit committee comprised of independent trustees. The members of the audit committee are as follows:
Frances G. Rathke – Chairperson William H. Cunningham
Hassel H. McClellan -Member of the Audit Committee as of September 26, 2023
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/ Kristie M. Feinberg |
| ------------------------------ |
| Kristie M. Feinberg |
| President |
Date: | May 8, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ Kristie M. Feinberg |
| ------------------------------- |
| Kristie M. Feinberg |
| President |
Date: | May 8, 2024 |
By: | /s/ Charles A. Rizzo |
| -------------------------------- |
| Charles A. Rizzo |
| Chief Financial Officer |
Date: | May 8, 2024 |