As filed with the Securities and Exchange Commission on October 14, 2004.
SCHEDULE 14A
(RULE 14A-101)
INFORMATION REQUIRED IN PROXY STATEMENT
FILE NUMBER 811-0560
SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE
SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. __)
[X] Filed by the Registrant
[ ] Filed by a Party other than the Registrant
Check the appropriate box:
[ ] Preliminary Proxy Statement
[X] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to Rule 14a-11(c) or Rule 14a-12
JOHN HANCOCK INVESTMENT TRUST
(Name of Registrant as Specified in Its Charter)
JOHN HANCOCK INVESTMENT TRUST
(Name of Person(s) Filing Proxy Statement)
Payment of filing fee (check the appropriate box):
[ ] $125 per Exchange Act Rules 0-11(c) (1) (ii), 14a-6 (i) (1), or
14a-6 (i) (2) or Item 22(a) (2) or schedule 14A (sent by wire transmission).
[ ] Fee paid previously with preliminary materials.
[X] No fee required.
- --------------------------------------------------------------------------------
Important Information
- --------------------------------------------------------------------------------
John Hancock(R)
- ------------------
JOHN HANCOCK FUNDS
October 14, 2004
Dear Fellow Shareholder:
I am writing to ask for your vote on an important matter concerning your
investment in one or more of the John Hancock mutual funds. The attached proxy
statement includes information regarding the election of your fund's board of
trustees.
Changes to the structure of your Board of Trustees
Currently, the boards of trustees of the John Hancock family of funds are
governed by a two-panel structure which came about because of past acquisitions
of fund groups. Each panel has been responsible for approximately half of the
funds within the family. Since 1998, members of the two panels have met
concurrently for all Board and Committee meetings. As a result, each Trustee
already has an understanding of the funds that are under the other panel's
supervision, as well as issues that are common to all of the John Hancock funds.
Several Trustees have reached the age for mandatory retirement and plan to
retire in 2004 and 2005, making this an appropriate time to consolidate the two
panels into one board of trustees.
For each fund, this proposal asks shareholders to elect nine Trustees to serve
until their respective successors are elected and qualified. Some of the
nominees are currently on your fund's board of trustees, while the others are
members of the other panel. The proxy statement includes a brief description of
each nominee's background.
It is important to note that eight of the nine nominees, including the nominee
who serves as Chairman, are independent Trustees with no direct or indirect
interest in John Hancock Advisers, LLC, your fund's investment adviser.
No impact on your fund's objectives, policies or fees
The proposal set forth in the enclosed proxy statement is considered a routine
item. A routine item is one that makes no changes to a fund's investment
objectives, policies or restrictions, or to the investment management contracts
or fees.
Your vote is important!
Your Trustees believe the proposed changes will benefit you and your fellow
shareholders and unanimously recommend that you vote in favor of this proposal.
Please complete the enclosed proxy ballot form, sign it and mail it to us
immediately. For your convenience, a postage-paid return envelope has been
provided. A prompt response will help avoid the cost of additional mailings at
your fund's expense.
If you have any questions or need additional information, please contact your
financial professional or call your John Hancock Funds Customer Service
Representative at 1-800-225-5291, Monday through Friday between 8:00 A.M. and
7:00 P.M., Eastern Time.
Thank you for your prompt action on this very important matter.
Sincerely,
/s/ James A. Shepherdson
James A. Shepherdson
Chief Executive Officer
John Hancock Bond Trust
John Hancock California Tax-Free Income Fund
John Hancock Capital Series
John Hancock Current Interest
John Hancock Equity Trust
John Hancock Institutional Series Trust
John Hancock Investment Trust
John Hancock Investment Trust II
John Hancock Investment Trust III
John Hancock Series Trust
John Hancock Sovereign Bond Fund
John Hancock Strategic Series
John Hancock Tax-Exempt Series
John Hancock Tax-Free Bond Trust
John Hancock World Fund
(Collectively, the "Trusts")
101 Huntington Avenue,
Boston, Massachusetts 02199
NOTICE OF JOINT SPECIAL MEETING OF SHAREHOLDERS
TO BE HELD DECEMBER 1, 2004
This is the formal agenda for your fund's shareholder meeting. It tells you
what matters will be voted on and the time and place of the meeting, in case
you want to attend in person.
A joint Special Meeting of Shareholders of each Trust will be held at the
Trusts' offices located on the 10th floor at 101 Huntington Avenue, Boston,
Massachusetts, on Wednesday, December 1, 2004 at 9:00 A.M., Eastern Time. The
Trusts' Special Meetings are expected to be held concurrently and are referred
to collectively as the "Meeting." The purpose of the Meeting is to consider and
act upon the following:
1. To elect nine trustees to hold office until their respective successors
have been duly elected and qualified.
2. To transact such other business as may properly come before the meeting or
any adjournment of the meeting.
Your Trustees recommend that you vote in favor of all of the nominees for
trustee.
Shareholders of record of each Trust as of the close of business on September
16, 2004 are entitled to notice of and to vote at the meeting and at any
related follow-up meetings.
Whether or not you expect to attend the meeting, please complete and return the
enclosed proxy card. Please take a few minutes to vote now.
By order of the boards of trustees,
Susan S. Newton
Secretary
October 14, 2004
PROXY STATEMENT OF
John Hancock Bond Trust
John Hancock California Tax-Free Income Fund
John Hancock Capital Series
John Hancock Current Interest
John Hancock Equity Trust
John Hancock Institutional Series Trust
John Hancock Investment Trust
John Hancock Investment Trust II
John Hancock Investment Trust III
John Hancock Series Trust
John Hancock Sovereign Bond Fund
John Hancock Strategic Series
John Hancock Tax-Exempt Series
John Hancock Tax-Free Bond Trust
John Hancock World Fund
(Collectively, the "Trusts")
This proxy statement contains the information you should know before voting on
the proposals below.
The Trusts will furnish without charge a copy of their most recent semiannual
and annual reports to any shareholder upon request. Shareholders who want to
obtain a copy of these reports should direct all written requests to the
attention of the fund, 101 Huntington Avenue, Boston, Massachusetts 02199, or
should call John Hancock Funds at 1-800-225-5291.
Each Trust is divided into one or more separate series (each, a "fund"). The
investment adviser to each fund is John Hancock Advisers, LLC (the "Adviser").
The principal underwriter of each fund's shares is John Hancock Funds, LLC (the
"Distributor"). The principal business address of the Adviser and the
Distributor is 101 Huntington Avenue, Boston, Massachusetts 02199.
This proxy statement is furnished in connection with the solicitation of proxies
by the board of trustees (the "Trustees") of each of the Trusts listed above on
behalf of each respective fund set forth below. Trustees are elected on a
Trust-wide basis. Therefore, all shareholders of each fund that is a series of
the same Trust (and all classes of shares of those funds) vote together as a
single class on the election of Trustees of that Trust. Each Trust will hold a
separate election.
Trusts
Panel A Funds
- --------------------------------------------------------------------------------
John Hancock John Hancock Classic Value Fund ("Classic Value")
Capital Series John Hancock Core Equity Fund ("Core Equity")
John Hancock Large Cap Select Fund ("Large Cap Select")
John Hancock U.S. Global Leaders Growth Fund
("U.S. Global Leaders Growth")
- --------------------------------------------------------------------------------
John Hancock John Hancock Growth Trends Fund ("Growth Trends")
Equity Trust
- --------------------------------------------------------------------------------
John Hancock John Hancock Financial Industries Fund
Investment ("Financial Industries")
Trust II John Hancock Regional Bank Fund ("Regional Bank")
John Hancock Small Cap Equity Fund ("Small Cap Equity")
- --------------------------------------------------------------------------------
John Hancock John Hancock International Fund ("International")
Investment John Hancock Large Cap Growth Fund
Trust III ("Large Cap Growth")
John Hancock Mid Cap Growth Fund ("Mid Cap Growth")
- --------------------------------------------------------------------------------
John Hancock John Hancock Bond Fund ("Bond")
Sovereign Bond
Fund
- --------------------------------------------------------------------------------
John Hancock John Hancock High Income Fund ("High Income")
Strategic Series John Hancock Strategic Income Fund ("Strategic Income")
- --------------------------------------------------------------------------------
John Hancock John Hancock Massachusetts Tax-Free Income Fund
Tax-Exempt ("Massachusetts Tax-Free")
Series John Hancock New York Tax-Free Income Fund
("New York Tax-Free")
- --------------------------------------------------------------------------------
John Hancock John Hancock Biotechnology Fund ("Biotechnology")
World Fund John Hancock Health Sciences Fund
("Health Sciences")
- --------------------------------------------------------------------------------
2
Trusts
Panel B Funds
- --------------------------------------------------------------------------------
John Hancock John Hancock Government Income Fund
Bond Trust ("Government Income")
John Hancock High Yield Fund ("High Yield")
John Hancock Investment Grade Bond Fund
("Investment Grade Bond")
- --------------------------------------------------------------------------------
John Hancock John Hancock California Tax-Free Income Fund
California ("California Tax-Free")
Tax-Free
Income Fund
- --------------------------------------------------------------------------------
John Hancock John Hancock Money Market Fund ("Money Market")
Current Interest John Hancock U.S. Government Cash Reserve
("U.S. Government Cash Reserve")
- --------------------------------------------------------------------------------
John Hancock John Hancock Independence Diversified Core Equity
Institutional Fund II ("Independence Diversified Core Equity")
Series Trust
- --------------------------------------------------------------------------------
John Hancock John Hancock Balanced Fund ("Balanced")
Investment John Hancock Large Cap Equity Fund ("Large Cap Equity")
Trust John Hancock Sovereign Investors Fund
("Sovereign Investors")
- --------------------------------------------------------------------------------
John Hancock John Hancock Focused Equity Fund ("Focused Equity")
Series Trust John Hancock Mid Cap Equity Fund ("Mid Cap Equity")
John Hancock Multi Cap Growth Fund ("Multi Cap Growth")
John Hancock Real Estate Fund ("Real Estate")
John Hancock Small Cap Growth Fund ("Small Cap Growth")
John Hancock Technology Fund ("Technology")
- --------------------------------------------------------------------------------
John Hancock John Hancock High Yield Municipal Bond Fund
Tax-Free Bond ("High Yield Municipal")
Trust John Hancock Tax-Free Bond Fund ("Tax-Free Bond")
- --------------------------------------------------------------------------------
For purposes of this Proxy Statement, the term "Funds" shall also include the
Trusts where appropriate.
3
INTRODUCTION
This proxy statement is being used at the special meeting of each fund's
shareholders to be held concurrently (collectively, the "Meeting") at 101
Huntington Avenue, Boston, Massachusetts, on Wednesday, December 1, 2004 at
9:00 A.M., Eastern Time. The purpose of the Meeting is to consider:
1. Proposal to elect nine Trustees to hold office until their respective
successors have been duly elected and qualified.
2. Any other business that may properly come before the Meeting.
This proxy statement and the proxy card are being mailed to each fund's
shareholders on or about October 14, 2004.
WHO IS ELIGIBLE TO VOTE?
Shareholders of record on September 16, 2004 are entitled to attend and vote on
each proposal at the meeting or any adjourned meeting. Each share is entitled to
one vote. All shareholders of each fund that is a series of the same Trust (and
all classes of shares of those funds) vote together as a single class on the
election of Trustees. Each Trust will hold a separate election. Shares
represented by properly executed proxies, unless revoked before or at the
meeting, will be voted according to shareholder instructions. If you sign a
proxy, but do not fill in a vote, your shares will be voted in favor of each of
the nominees. If any other business comes before the Meeting, your shares will
be voted at the discretion of the persons named as proxies.
PROPOSAL 1
ELECTION OF TRUSTEES
Currently, there are two separate groups of Trustees. These groups are referred
to as "Panel A" and "Panel B." As set forth in the table in the introduction to
this Proxy Statement, the Panel A Trustees serve as Trustees of certain Trusts
and the Panel B Trustees serve as Trustees of the remaining Trusts. This
two-panel structure evolved because John Hancock acquired investment advisers to
other fund groups and integrated the funds and their Boards into the John
Hancock funds. However, since March of 1998 Panel A Trustees and Panel B
Trustees have met concurrently for all Board and Committee meetings. As a
result, each Trustee already has some understanding of the funds that are under
the other Panel's supervision.
For some time, the Panel A and Panel B Trustees have been considering ways to
improve the effectiveness of their oversight of the funds, including combining
the two Panels of Trustees. A number of the Trustees from each panel have
reached the age for mandatory retirement, and the Trustees believe that with
these retirements scheduled for 2004 and early 2005, this
4
would be an appropriate time to consolidate the two Panels into one board of
trustees. In addition, the Trustees noted that shareholders have not had an
opportunity to elect Trustees for a number of years. Consequently, on September
14, 2004, the Panel A Trustees and the Panel B Trustees, including all of the
Trustees who are not "interested persons" (as defined by the Investment Company
Act of 1940, as amended (the "1940 act")) of the funds (the "independent
Trustees"), voted to approve, and to recommend that the funds' shareholders vote
to approve, the election of each nominee listed below (collectively, the
"Nominees"). Each Nominee currently serves either as a Panel A Trustee or a
Panel B Trustee. If approved by the shareholders, the proposal will result in
each fund being governed by the same collective board of trustees. The election
for all funds will be effective January 1, 2005, except funds in the Equity
Trust, which will be effective December 1, 2004.
Of the nine nominees, eight are Independent Trustees. Two of the nine Trustees
currently serve on both Panel A and Panel B; three serve on Panel A; and four
serve on Panel B. Each independent Nominee was approved by the Administration
Committee of the applicable fund's existing board of trustees, and each Nominee
was recommended by the Trustees of the applicable fund, including the
independent Trustees. Information concerning the background of each Nominee is
included below.
Using the enclosed form of proxy, a shareholder may authorize the proxies to
vote his or her shares for the Nominees or may withhold from the proxies
authority to vote his or her shares for one or more of the Nominees. If no
contrary instructions are given, the proxies will vote FOR the Nominees. Each of
the Nominees has consented to his or her nomination and has agreed to serve if
elected. If for any reason, any Nominee should not be available for election or
able to serve as a Trustee, the proxies will exercise their voting power in
favor of such substitute Nominee, if any, as each of the Fund's Trustees may
designate. None of the funds has any reason to believe that it will be necessary
to designate a substitute Nominee.
Information Concerning Nominees
The following table sets forth each Nominee's principal occupation or employment
and other directorships during the past five years. The table sets forth the
Panel on which each Nominee currently serves, the date he or she first became a
Trustee and the number of funds each Nominee currently oversees. If elected all
Trustees will oversee forty-eight funds. The table also sets forth the above
information for the Trustees not standing for election.
5
NOMINEES FOR ELECTION
Number of
John Hancock
Name, (Age), Principal Occupation(s) Funds
Address(1) and Position and other Directorships Trustee overseen
with the Funds During the Past Five Years Since currently
- --------------------------------------------------------------------------------------------------
Independent Trustees
- --------------------------------------------------------------------------------------------------
Charles L. Ladner Chairman and Trustee, Dunwoody Independent 48
(Age 66) Village, Inc. (retirement services) Chairman
Chairman and Trustee (until 2003); Senior Vice President June 16,
and Chief Financial Officer, UGI 2004
Corporation (public utility holding Panel A
company) (retired 1998); Vice 2004
President and Director for AmeriGas, Panel B
Inc. (retired 1998); Director of 1994
AmeriGas Partners, L.P. (until 1997)
(gas distribution); Director,
EnergyNorth, Inc. (until 1995);
Director, Parks and History
Association (since 2001).
- --------------------------------------------------------------------------------------------------
James F. Carlin Chairman and Treasurer, Alpha Panel B 28
(Age 64) Analytical Inc. (analytical laboratory) 1994
Trustee (since 1985); Part Owner and
Treasurer, Lawrence Carlin Insurance
Agency, Inc. (since 1995); Part
Owner and Vice President, Mone
Lawrence Carlin Insurance Agency,
Inc. (since 1996); Director and
Treasurer, Rizzo Associates
(engineering) (until 2000); Chairman
and CEO, Carlin Consolidated, Inc.
(management/investments) (since
1987); Director and Partner, Proctor
Carlin & Co., Inc. (insurance) (until
1999); Trustee, Massachusetts Health
and Education Tax Exempt Trust
(since 1993); Director of the
following: Uno Restaurant Corp.
(until 2001), Arbella Mutual
(insurance) (until 2000), HealthPlan
Services, Inc. (until 1999), Flagship
Healthcare, Inc. (until 1999), Carlin
Insurance Agency, Inc. (until 1999);
Chairman, Massachusetts Board of
Higher Education (until 1999).
- --------------------------------------------------------------------------------------------------
Richard P. Chapman, Jr. President and Chief Executive Panel A 20
(Age 69) Officer, Brookline Bancorp, Inc. 1978
Trustee (lending) (since 1972); Director,
Lumber Insurance Co. (insurance)
(until 2000); Chairman and Director,
Northeast Retirement Services, Inc.
(retirement administration) (since
1998).
- --------------------------------------------------------------------------------------------------
6
NOMINEES FOR ELECTION
Number of
John Hancock
Name, (Age), Principal Occupation(s) Funds
Address(1) and Position and other Directorships Trustee overseen
with the Funds During the Past Five Years Since currently
- --------------------------------------------------------------------------------------------------
William H. Cunningham Former Chancellor, University of Panel B 28
(Age 60) Texas System and former President of 1987
Trustee the University of Texas, Austin,
Texas; Chairman and CEO, IBT
Technologies (until 2001); Director of
the following: The University of
Texas Investment Management
Company (until 2000), Hire.com
(until 2004), STC Broadcasting, Inc.
and Sunrise Television Corp. (until
2001), Symtx, Inc. (electronic
manufacturing) (since 2001),
Adorno/Rogers Technology, Inc. (until
2004), Pinnacle Foods Corporation
(until 2003), rateGenius (Internet
service) (until 2003), Jefferson-Pilot
Corporation (diversified life insurance
company) (since 1985), New Century
Equity Holdings (formerly Billing
Concepts) (until 2001), eCertain
(until 2001), ClassMap.com (until
2001), Agile Ventures (until 2001),
LBJ Foundation (until 2000),
Golfsmith International, Inc. (until
2000), Metamor Worldwide (until
2000), AskRed.com (until 2001),
Southwest Airlines (since 2000) and
Introgen (since 2000); Advisory
Director, Q Investments (until 2003);
Advisory Director, Chase Bank
(formerly Texas Commerce Bank --
Austin) (since 1988), LIN Television
(since 2002), WilTel
Communications (until 2003) and
Hayes Lemmerz International, Inc.
(Diversified Automotive Parts Supply
Company) (since 2003).
- --------------------------------------------------------------------------------------------------
Ronald R. Dion Chairman and Chief Executive Panel B 28
(Age 58) Officer, R. M. Bradley & Co., Inc.; 1998
Trustee Director, The New England Council
and Massachusetts Roundtable;
Director, Boston Stock Exchange;
Trustee, North Shore Medical Center;
Director, BJ's Wholesale Club, Inc.
and a corporator of the Eastern Bank;
Trustee, Emmanuel College.
- --------------------------------------------------------------------------------------------------
7
NOMINEES FOR ELECTION
Number of
John Hancock
Name, (Age), Principal Occupation(s) Funds
Address(1) and Position and other Directorships Trustee overseen
with the Funds During the Past Five Years Since currently
- --------------------------------------------------------------------------------------------------
John A. Moore President and Chief Executive Panel A 30
(Age 65) Officer, Institute for Evaluating 1996
Trustee Health Risks (nonprofit institution)
(until 2001); Chief Scientist, Science
International (health research) (since
1998); Principal, Hollyhouse
(consulting) (since 2000); Director,
CIIT (nonprofit research) (since
2002).
- --------------------------------------------------------------------------------------------------
Patti McGill Peterson Executive Director, Council for Panel A 30
(Age 61) International Exchange of Scholars; 1996
Trustee Vice President, Institute of
International Education (since 1998);
Senior Fellow, Cornell Institute of
Public Affairs, Cornell University
(until December 1998); Former
President of Wells College and St.
Lawrence University; Director,
Niagara Mohawk Power Corporation
(until 2003); Director, Ford
Foundation, International Fellowship
Program (since 2002), Lois Roth
Endowment (since 2002), Council
for International Educational
Exchange (since 2003).
- --------------------------------------------------------------------------------------------------
Steven R. Pruchansky Chairman and Chief Executive Panel B 28
(Age 60) Officer, Greenscapes of Southwest 1994
Trustee Florida, Inc. (since 2000); Director
and President, Greenscapes of
Southwest Florida, Inc. (until 2000);
Managing Director, JonJames, LLC
(real estate) (since 2001); Director,
First Signature Bank & Trust
Company (until 1991); Director,
Mast Realty Trust (until 1994);
President, Maxwell Building Corp.
(until 1991).
- --------------------------------------------------------------------------------------------------
8
NOMINEES FOR ELECTION
Number of
John Hancock
Name, (Age), Principal Occupation(s) Funds
Address(1) and Position and other Directorships Trustee overseen
with the Funds During the Past Five Years Since currently
- --------------------------------------------------------------------------------------------------
Interested Trustees
- --------------------------------------------------------------------------------------------------
James A. Shepherdson+ Executive Vice President, Manulife Panel A and 48
(Age 52) Financial Corporation (since 2004); Panel B
Trustee Chairman, Director, President and 2004
Chief Executive Officer, the Adviser
and The Berkeley Group, LLC ("The
Berkeley Group") (holding company);
Chairman, Director, President and
Chief Executive Officer, the
Distributor; Chairman, Director,
President and Chief Executive
Officer, Sovereign Asset Management
Corporation ("SAMCorp."); President,
John Hancock Retirement Services,
John Hancock Life Insurance
Company (until 2004); Chairman,
Essex Corporation (investment
adviser) (until 2004); Co-Chief
Executive Officer, MetLife Investors
Group (until 2003); Senior Vice
President, AXA/Equitable Insurance
Company (until 2000).
- --------------------------------------------------------------------------------------------------
9
TRUSTEES NOT STANDING FOR ELECTION
Number of
John Hancock
Name, (Age), Principal Occupation(s) Funds
Address(1) and Position and other Directorships Trustee overseen
with the Funds During the Past Five Years Since currently
- --------------------------------------------------------------------------------------------------
Dennis S. Aronowitz(*) Professor of Law Emeritus, Boston Panel A 1988 20
(Age 73) University School of Law (as of
Trustee 1996); Director, Brookline Bancorp
(since 1998).
- --------------------------------------------------------------------------------------------------
William J. Cosgrove(**) Vice President, Senior Banker and Panel A 1991 20
(Age 71) Senior Credit Officer, Citibank, N.A.
Trustee (banking) (retired 1991); Executive
Vice President, Citadel Group
Representatives, Inc. (financial
reinsurance) (until 2004); Director,
Hudson City Savings Bank (since
1995); Director, Hudson City
Bancorp (banking) (since 1999);
Trustee, Scholarship Fund for Inner
City Children (since 1986).
- --------------------------------------------------------------------------------------------------
Richard A. Farrell(*) President, Farrell, Healer & Co., Inc., Panel A 1996 20
(Age 71) (venture capital management firm)
Trustee (since 1980) and President, the
Venture Capital Fund of NE (since
1980). Prior to 1980, headed the
venture capital group at Bank of
Boston Corporation; Trustee,
Marblehead Savings Bank (since
1994).
- --------------------------------------------------------------------------------------------------
William F. Glavin(*) President Emeritus, Babson College Panel A 1996 20
(Age 72) (as of 1998); Vice Chairman, Xerox
Trustee Corporation (until 1989); Director,
Reebok, Inc. (until 2002) and Inco
Ltd. (until 2002).
- --------------------------------------------------------------------------------------------------
John W. Pratt(*) Professor of Business Administration Panel A 1996 20
(Age 73) Emeritus, Harvard University
Trustee Graduate School of Business
Administration (as of 1998).
- --------------------------------------------------------------------------------------------------
Norman H. Smith(**) Lieutenant General, United States Panel B 1996 28
(Age 71) Marine Corps; Deputy Chief of Staff
Independent Trustee for Manpower and Reserve Affairs,
Headquarters Marine Corps;
Commanding General III Marine
Expeditionary Force/3rd Marine
Division (retired 1991).
- --------------------------------------------------------------------------------------------------
10
TRUSTEES NOT STANDING FOR ELECTION
Number of
John Hancock
Name, (Age), Principal Occupation(s) Funds
Address(1) and Position and other Directorships Trustee overseen
with the Funds During the Past Five Years Since currently
- --------------------------------------------------------------------------------------------------
John P. Toolan(*) Director, The Smith Barney Muni Panel B 1996 28
(Age 74) Bond Funds, The Smith Barney
Independent Trustee Tax-Free Money Funds, Inc., Vantage
Money Market Funds (mutual funds),
The Inefficient-Market Fund, Inc.
(closed-end investment company);
Chairman, Smith Barney Trust
Company of Florida (retired 1991);
Director, Smith Barney, Inc., Mutual
Management Company and Smith
Barney Advisers, Inc. (investment
advisers) (retired 1991); Senior
Executive Vice President, Director
and member of the Executive
Committee, Smith Barney, Harris
Upham & Co., Incorporated
(investment bankers) (until 1991).
- --------------------------------------------------------------------------------------------------
+ "Interested person," as defined in the Investment Company Act of 1940, as
amended (the "Investment Company Act"), of the funds and the Adviser. Mr.
Shepherdson is deemed to be an "interested person" because he is Chairman,
Director, President and Chief Executive Officer of the Adviser and
President and Chief Executive Officer of the Distributor.
(*) Messrs. Aronowitz, Farrell, Glavin, Pratt and Toolan are retiring on
December 31, 2004.
(**) Messrs. Cosgrove and Smith are retiring on March 31, 2005 and June 30,
2005, respectively.
11
Executive Officers
In addition to the President and Chief Executive Officer (Mr. Shepherdson), the
table below lists each fund's executive officers.
Name, (Age), Address(1)
and Position with the Principal Occupation(s)
Funds During the Past Five Years Officer Since
- -----------------------------------------------------------------------------------
Richard A. Brown Senior Vice President, Chief Financial 2001
(Age 55) Officer and Treasurer, the Adviser,
Senior Vice President the John Hancock Fund Complex,
and Chief Financial and The Berkeley Group; Second
Officer Vice President and Senior Associate
Controller, Corporate Tax
Department, John Hancock Financial
Services, Inc. (until 2001).
- -----------------------------------------------------------------------------------
Susan S. Newton Senior Vice President and Secretary, 1984
(Age 54) each of the John Hancock funds;
Senior Vice President Senior Vice President, Secretary and
and Secretary Chief Legal Officer, the Adviser, the
Distributor, The Berkeley Group and
SAMCorp.
- -----------------------------------------------------------------------------------
William H. King Vice President and Treasurer, each of 1992
(Age 52) the John Hancock funds; Vice
Vice President and President, the Adviser.
Treasurer
- -----------------------------------------------------------------------------------
(1) The business address for the independent and interested Trustees and
officers is 101 Huntington Avenue, Boston Massachusetts 02199
Each Trust's board of trustees currently has four standing Committees: the Audit
Committee, the Administration Committee, the Contracts/Operations Committee and
the Investment Performance Committee. Each Committee is comprised of Independent
Trustees who are not "interested persons."
12
The current membership of each Committee and the anticipated membership if the
nominees are elected, are set forth below.
Contracts/ Investment
Audit Administration Operations Performance
- -----------------------------------------------------------------------------------------
Current Panel A Messrs. Glavin* All Independent Messrs. Messrs.
Ladner, Moore Trustees Aronowitz* Chapman,
and Ms. Peterson and Farrell* Cosgrove**
and Pratt*
- -----------------------------------------------------------------------------------------
Current Panel B Messrs. Ladner All Independent Messrs. Messrs.
and Toolan* Trustees Pruchansky, Cunningham
Carlin and and Dion
Smith**
- -----------------------------------------------------------------------------------------
Anticipated for Messrs. Ladner, All Independent Messrs. Carlin, All Independent
Equity Trust as Pruchansky, Trustees Moore, Dion, Trustees
of 12/1/04 and Chapman, Cunningham
all other funds Smith**+ and and
as of 1/1/05 Ms. Peterson Cosgrove**+
- -----------------------------------------------------------------------------------------
* Messrs. Aronowitz, Farrell, Glavin, Pratt and Toolan are retiring on
December 31, 2004.
** Messrs. Cosgrove (Panel A) and Smith (Panel B) are retiring on March 31,
2005 and June 30, 2005, respectively.
+ Current Panel A or Panel B funds only.
The Board has adopted a written charter for the Audit Committee. The Audit
Committee recommends to the full Board the appointment of outside auditors for
the fund, monitors and oversees the audits of the fund, communicates with both
independent auditors and internal auditors on a regular basis and provides a
forum for the auditors to report and discuss any matters they deem appropriate
at any time.
All of the Independent Trustees are members of the Administration Committee. The
Administration Committee reviews the activities of the other three standing
committees and makes the final selection and nomination of candidates to serve
as Independent Trustees. All members of the Administration Committee are
independent under the New York Stock Exchange's Revised Listing Rules and are
Independent Trustees. The Board has adopted a written charter for the
Administration Committee, which is attached as Exhibit B to this proxy. The
Administration Committee selects and nominates for elections candidates for
Independent Trustees. The Trustees who are not Independent Trustees and the
officers of the fund are nominated and selected by the Board.
In reviewing a potential nominee and in evaluating the renomination of current
Independent Trustees, the Administration Committee expects to apply the
following criteria: (i) the nominee's reputation for integrity, honesty and
adherence to high ethical standards, (ii) the nominee's business acumen,
13
experience and ability to exercise sound judgments, (iii) a commitment to
understand the fund and the responsibilities of a trustee of an investment
company, (iv) a commitment to regularly attend and participate in meetings of
the Board and its committees, (v) the ability to understand potential conflicts
of interest involving management of the fund and to act in the interests of all
shareholders, and (vi) the absence of a real or apparent conflict of interest
that would impair the nominee's ability to represent the interests of all the
shareholders and to fulfill the responsibilities of an Independent Trustee. The
Administration Committee does not necessarily place the same emphasis on each
criteria and each nominee may not have each of these qualities. The
Administration Committee does not discriminate on the basis of race, religion,
national origin, sex, sexual orientation, disability or any other basis
proscribed by law.
As long as an existing Independent Trustee continues, in the opinion of the
Administration Committee, to satisfy these criteria, each fund anticipates that
the Committee would favor the renomination of an existing Trustee rather than a
new candidate. Consequently, while the Administration Committee will consider
nominees recommended by shareholders to serve as trustees, the Administration
Committee may only act upon such recommendations if there is a vacancy on the
Board or the Administration Committee determines that the selection of a new or
additional Independent Trustee is in the best interests of the funds. In the
event that a vacancy arises or a change in Board membership is determined to be
advisable, the Administration Committee will, in addition to any shareholder
recommendations, consider candidates identified by other means, including
candidates proposed by members of the Administration Committee. While it has not
done so in the past, the Administration Committee may retain a consultant to
assist the Committee in a search for a qualified candidate.
Any shareholder recommendation must be submitted in compliance with all of the
pertinent provisions of Rule 14a-8 under the Securities Exchange Act of 1934, as
amended, to be considered by the Administration Committee. In evaluating a
nominee recommended by a shareholder, the Administration Committee, in addition
to the criteria discussed above, may consider the objectives of the shareholder
in submitting that nomination and whether such objectives are consistent with
the interests of all shareholders. If the Board determines to include a
shareholder's candidate among the slate of nominees, the candidate's name will
be placed on the fund's proxy card. If the Administration Committee or the Board
determines not to include such candidate among the Board's designated nominees
and the shareholder has satisfied the requirements of Rule 14a-8, the
shareholder's candidate will be treated as a nominee of the shareholder who
originally nominated the candidate. In that case, the candidate will not be
named on the proxy card
14
distributed with the fund's proxy statement. Each of the nominees for election
as Trustee was recommended by the Administration Committee, except for Mr.
Shepherdson, who was recommended by the Board.
Shareholders may communicate with the members of the Board as a group or
individually. Any such communication should be sent to the Board or an
individual Trustee c/o the secretary of the fund at the address on the notice of
this meeting. The Secretary may determine not to forward any letter to the
members of the Board that does not relate to the business of the fund. Mr.
Shepherdson typically attends shareholder meetings and other members of the
Board may, but generally do not, attend.
The Contracts/Operations Committee oversees the initiation, operation, and
renewal of the various contracts between the fund and other entities. These
contracts include advisory and subadvisory agreements, custodial and transfer
agency agreements and arrangements with other service providers.
The Investment Performance Committee monitors and analyzes the performance of
the funds generally, consults with the Adviser as necessary if a fund is
considered to require special attention, and reviews fund peer groups and other
comparative standards as necessary.
Each board of trustees and each committee held four meetings during each fund's
fiscal year. With respect to each fund, no Trustee attended fewer than 75% of
the aggregate of (1) the total number of meetings of the Trustees of the fund;
and (2) the total number of meetings held by all committees of the Trustees on
which they served. The funds hold joint meetings of the Trustees and all
committees.
Trustee Ownership
The following table provides a dollar range indicating each Trustee's ownership
of the funds as well as aggregate holdings of all John Hancock funds overseen by
the Trustees or nominees, as of July 31, 2004.
15
Trustee Holding Dollar Range Overseen by
NOMINEES FOR ELECTION(1)
Carlin Chapman Cunningham Dion Ladner
- ---------------------------------------------------------------------------------------------------------
Balanced 1-10,000 1-10,000 none 1-10,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
Biotechnology none none none none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Bond 1-10,000 1-10,000 none none 1-10,000
- ---------------------------------------------------------------------------------------------------------
California Tax-Free(2) none none none none none
- ---------------------------------------------------------------------------------------------------------
Classic Value none none Over 100,000 none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Core Equity none 1-10,000 none none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Financial Industries none 1-10,000 none none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Focused Equity 1-10,000 none none 1-10,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
Government Income 1-10,000 none none 1-10,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
Growth Trends 1-10,000 none Over 100,000 none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Health Sciences none 1-10,000 none none 10,001-50,000
- ---------------------------------------------------------------------------------------------------------
High Income none none none none none
- ---------------------------------------------------------------------------------------------------------
High Yield 1-10,000 none none 1-10,000 10,001-50,000
- ---------------------------------------------------------------------------------------------------------
High Yield Municipal 1-10,000 none none 1-10,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
Independence Diversified none none none none none
Core Equity(3)
- ---------------------------------------------------------------------------------------------------------
International none 10,001-50,000 none none 10,001-50,000
- ---------------------------------------------------------------------------------------------------------
Investment Grade Bond 1-10,000 50,001-100,000 none 1-10,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
Large Cap Equity 1-10,000 1-10,000 none 1-10,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
Large Cap Growth 1-10,000 50,001-100,000 10,001-50,000 none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Large Cap Select none none none none none
- ---------------------------------------------------------------------------------------------------------
Massachusetts Tax-Free(2) none 1-10,000 none none none
- ---------------------------------------------------------------------------------------------------------
Mid Cap Equity(3) none none none none none
- ---------------------------------------------------------------------------------------------------------
Mid Cap Growth none 1-10,000 none none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Money Market 1-10,000 1-10,000 none Over 100,000 10,001-50,000
- ---------------------------------------------------------------------------------------------------------
Multi Cap Growth 1-10,000 none none none 1-10,000
- ---------------------------------------------------------------------------------------------------------
New York Tax-Free(2) none none none none none
- ---------------------------------------------------------------------------------------------------------
Real Estate 1-10,000 none none 1-10,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
Regional Bank none 1-10,000 Over 100,000 none 10,001-50,000
- ---------------------------------------------------------------------------------------------------------
Small Cap Equity none 10,001-50,000 none none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Small Cap Growth 1-10,000 10,001-50,000 50,001-100,000 1-10,000 10,001-50,000
- ---------------------------------------------------------------------------------------------------------
Strategic Income none 1-10,000 none none 10,001-50,000
- ---------------------------------------------------------------------------------------------------------
Sovereign Investors Over 100,000 none 50,001-100,000 Over 100,000 10,001-50,000
- ---------------------------------------------------------------------------------------------------------
Tax-Free Bond 1-10,000 1-10,000 none 1-10,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
Technology 1-10,000 none none 1-10,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
U.S. Government 1-10,000 none none 1-10,000 none
Cash Reserve
- ---------------------------------------------------------------------------------------------------------
U.S. Global Leaders none none none none 10,001-50,000
Growth
- ---------------------------------------------------------------------------------------------------------
All John Hancock Over 100,000 Over 100,000 Over 100,000 Over 100,000 Over 100,000
funds overseen
- ---------------------------------------------------------------------------------------------------------
16
Trustee Holding Dollar Range Overseen by
NOMINEES FOR ELECTION(1)
Moore Peterson Pruchansky Shepherdson
- ---------------------------------------------------------------------------------------------------------
Balanced 1-10,000 over 100,000 1-10,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
Biotechnology 1-10,000 none none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Bond 50,001-100,000 10,001-50,000 none 1-10,000
- ---------------------------------------------------------------------------------------------------------
California Tax-Free(2) none none none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Classic Value Over 100,000 none Over 100,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
Core Equity 10,001-50,000 10,001-50,000 none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Financial Industries 10,001-50,000 none none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Focused Equity none none none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Government Income 1-10,000 1-10,000 1-10,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
Growth Trends 1-10,000 1-10,000 1-10,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
Health Sciences 1-10,000 10,001-50,000 none 1-10,000
- ---------------------------------------------------------------------------------------------------------
High Income none 1-10,000 none 1-10,000
- ---------------------------------------------------------------------------------------------------------
High Yield 1-10,000 10,001-50,000 1-10,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
High Yield Municipal none none none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Independence Diversified none none none none
Core Equity(3)
- ---------------------------------------------------------------------------------------------------------
International 1-10,000 10,001-50,000 none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Investment Grade Bond none 1-10,000 1-10,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
Large Cap Equity 10,001-50,000 1-10,000 1-10,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
Large Cap Growth 1-10,000 10,001-50,000 none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Large Cap Select 10,001-50,000 none none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Massachusetts Tax-Free(2) none none none none
- ---------------------------------------------------------------------------------------------------------
Mid Cap Equity(3) none none none none
- ---------------------------------------------------------------------------------------------------------
Mid Cap Growth 1-10,000 1-10,000 none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Money Market none none none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Multi Cap Growth none none 1-10,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
New York Tax-Free(2) none 1-10,000 none none
- ---------------------------------------------------------------------------------------------------------
Real Estate none none 1-10,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
Regional Bank 50,001-100,000 10,001-50,000 none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Small Cap Equity 10,001-50,000 1-10,000 none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Small Cap Growth 1-10,000 1-10,000 1-10,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
Strategic Income 1-10,000 1-10,000 none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Sovereign Investors 1-10,000 1-10,000 1-10,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
Tax-Free Bond 10,001-50,000 10,001-50,000 none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Technology 1-10,000 none 10,001-50,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
U.S. Government none none none 1-10,000
Cash Reserve
- ---------------------------------------------------------------------------------------------------------
U.S. Global Leaders 50,001-100,000 none none 1-10,000
Growth
- ---------------------------------------------------------------------------------------------------------
All John Hancock Over 100,000 Over 100,000 Over 100,000 10,001-30,000
funds overseen
- ---------------------------------------------------------------------------------------------------------
17
Trustee Holding Dollar Range Overseen by
TRUSTEES NOT STANDING FOR ELECTION(1)
Panel A Aronowitz* Cosgrove** Farrell* Glavin* Pratt*
- ---------------------------------------------------------------------------------------------------------
Biotechnology none none 1-10,000 none none
- ---------------------------------------------------------------------------------------------------------
Bond 1-10,000 10,001-50,000 1-10,000 1-10,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
Classic Value none none 10,001- 10,001- none
50,000 50,000
- ---------------------------------------------------------------------------------------------------------
Core Equity 1-10,000 1-10,000 1-10,000 none 10,001-
50,000
- ---------------------------------------------------------------------------------------------------------
Financial Industries 1-10,000 none 1-10,000 none 10,001-
50,000
- ---------------------------------------------------------------------------------------------------------
Growth Trends none none none none 1-10,000
- ---------------------------------------------------------------------------------------------------------
Health Sciences 10,001-50,000 1-10,000 1-10,000 none none
- ---------------------------------------------------------------------------------------------------------
High Income none none none none none
- ---------------------------------------------------------------------------------------------------------
International 1-10,000 1-10,000 50,001- none 1-10,000
100,000
- ---------------------------------------------------------------------------------------------------------
Large Cap Growth 1-10,000 1-10,000 1-10,000 none 10,001-
50,000
- ---------------------------------------------------------------------------------------------------------
Large Cap Select none none none none none
- ---------------------------------------------------------------------------------------------------------
Massachusetts Tax-Free(2) 1-10,000 1-10,000 1-10,000 none Over
100,000
- ---------------------------------------------------------------------------------------------------------
Mid Cap Growth 1-10,000 1-10,000 1-10,000 50,001- 10,001-
100,000 50,000
- ---------------------------------------------------------------------------------------------------------
New York Tax-Free(2) none none none none none
- ---------------------------------------------------------------------------------------------------------
Regional Bank 1-10,000 50,001- 1-10,000 Over 100,000 Over
100,000 100,000
- ---------------------------------------------------------------------------------------------------------
Small Cap Equity 1-10,000 10,001-50,000 1-10,000 Over 100,000 1-10,000
- ---------------------------------------------------------------------------------------------------------
Strategic Income 1-10,000 1-10,000 10,001- none 10,001-
50,000 50,000
- ---------------------------------------------------------------------------------------------------------
U.S. Global 10,001-50,000 none 10,001- 10,001- 10,001-
Leaders Growth 50,000 50,000 50,000
- ---------------------------------------------------------------------------------------------------------
All John Hancock Over 100,000 Over 100,000 Over 100,000 Over 100,000 Over
funds overseen 100,000
- ---------------------------------------------------------------------------------------------------------
18
Trustee Holding Dollar Range Overseen by
TRUSTEES NOT STANDING FOR ELECTION(1)
Panel B Smith** Toolan*
- --------------------------------------------------------------------------------
Balanced 10,001-50,000 1-10,000
- --------------------------------------------------------------------------------
California Tax-Free(2) none none
- --------------------------------------------------------------------------------
Focused Equity 1-10,000 none
- --------------------------------------------------------------------------------
Government Income 1-10,000 none
- --------------------------------------------------------------------------------
High Yield 10,001-50,000 none
- --------------------------------------------------------------------------------
High Yield Municipal 10,001-50,000 none
- --------------------------------------------------------------------------------
Independence Diversified Core Equity(3) none none
- --------------------------------------------------------------------------------
Investment Grade Bond 10,001-50,000 none
- --------------------------------------------------------------------------------
Large Cap Equity 10,001-50,000 50,001-100,000
- --------------------------------------------------------------------------------
Mid Cap Equity(3) none none
- --------------------------------------------------------------------------------
Multi Cap Growth 1-10,000 none
- --------------------------------------------------------------------------------
Money Market 10,001-50,000 none
- --------------------------------------------------------------------------------
Real Estate 1-10,000 none
- --------------------------------------------------------------------------------
Small Cap Growth 10,001-50,000 Over 100,000
- --------------------------------------------------------------------------------
Sovereign Investors 50,001-100,000 Over 100,000
- --------------------------------------------------------------------------------
Tax-Free Bond 10,001-50,000 none
- --------------------------------------------------------------------------------
Technology 10,001-50,000 10,001-50,000
- --------------------------------------------------------------------------------
U.S. Government Cash Reserve none none
- --------------------------------------------------------------------------------
All John Hancock funds overseen Over $100,000 Over $100,000
- --------------------------------------------------------------------------------
* Messrs. Aronowitz, Farrell, Glavin, Pratt and Toolan are retiring on
December 31, 2004.
** Messrs. Cosgrove and Smith are retiring on March 31, 2005 and June 30,
2005, respectively.
(1) The amounts reflect the aggregate dollar range of equity securities
beneficially owned by the Trustees in the funds and in all John Hancock
funds overseen by each Trustee. For each Trustee, the amounts reflected
include share equivalents of certain John Hancock funds in which the
Trustee is deemed to be invested pursuant to the Deferred Compensation Plan
for Independent Trustees, as more fully described under "Remuneration of
Officers and Trustees". The information as to beneficial ownership is based
on statements furnished to the funds by the Trustees. Each of the Trustees
has all voting and investment powers with respect to the holdings
indicated. None of the Trustees beneficially owned individually, and the
Trustees and executive officers of the funds as a group did not
beneficially own, in excess of one percent of the outstanding shares of any
fund.
(2) The Massachusetts, New York and California Tax-Free Funds may only be
purchased by residents of the respective states.
(3) Individuals are not permitted to purchase these funds.
19
Remuneration of Officers and Trustees
The following table provides information about the compensation paid by the
funds and the other investment companies in the John Hancock fund complex to the
Independent Trustees for their services for each fund's most recently completed
fiscal year. Any non-independent Trustees, and each of the officers of the funds
are interested persons of the Adviser, are compensated by the Adviser and/or its
affiliates and receive no compensation from the funds for their services.
The aggregate annual compensation figures in the table below include any
compensation deferred at the election of the Trustee. The funds do not provide
pension or retirement benefits to the Trustees.
20
Aggregate Compensation of the Independent Trustees
Fiscal
Year
Panel A End Aronowitz* Chapman+ Cosgrove+** Farrell* Glavin+*
- ----------------------------------------------------------------------------------------------
Biotechnology Oct $ 77 $ 87 $ 87 $ 87 $ 81
- ----------------------------------------------------------------------------------------------
Bond May 9,657 10,512 12,091 10,721 10,105
- ----------------------------------------------------------------------------------------------
Classic Value Dec 366 422 431 430 382
- ----------------------------------------------------------------------------------------------
Core Equity Dec 3,501 3,818 3,839 3,827 3,594
- ----------------------------------------------------------------------------------------------
Financial Industries Oct 10,397 11,454 11,412 11,376 10,788
- ----------------------------------------------------------------------------------------------
Growth Trends Oct 1,538 1,697 1,692 1,687 1,597
- ----------------------------------------------------------------------------------------------
Health Sciences Oct 2,076 2,298 2,290 2,282 1,880
- ----------------------------------------------------------------------------------------------
High Income May 221 239 275 244 231
- ----------------------------------------------------------------------------------------------
International Oct 143 174 185 184 158
- ----------------------------------------------------------------------------------------------
Large Cap Growth Oct 1,415 1,564 1,559 1,554 1,470
- ----------------------------------------------------------------------------------------------
Large Cap Select Dec 43 51 51 51 43
- ----------------------------------------------------------------------------------------------
Massachusetts Tax-Free Aug 713 746 840 732 715
- ----------------------------------------------------------------------------------------------
Mid Cap Growth Oct 1,033 1,142 1,140 1,136 1073
- ----------------------------------------------------------------------------------------------
New York Tax-Free Aug 520 543 612 534 521
- ----------------------------------------------------------------------------------------------
Regional Bank Oct 18,129 19,997 19,923 19,860 18,812
- ----------------------------------------------------------------------------------------------
Small Cap Equity Oct 3,287 3,625 3,615 3,603 3,412
- ----------------------------------------------------------------------------------------------
Strategic Income May 10,748 11,662 13,397 11,857 11,225
- ----------------------------------------------------------------------------------------------
U.S. Global Dec 3,317 3,690 3,740 3,730 3,437
Leaders Growth
- ----------------------------------------------------------------------------------------------
Total Compensation $72,250 $79,000 $79,500 $79,250 $74,250
from all Funds in
John Hancock Fund
Complex to Trustees(2)
- ----------------------------------------------------------------------------------------------
21
Aggregate Compensation of the Independent Trustees
Fiscal
Year
Panel A End Ladner(1) Moore+ Peterson Pratt* Total
- ------------------------------------------------------------------------------------------
Biotechnology Oct -- $ 63 $ 59 $ 83 $ 629
- ------------------------------------------------------------------------------------------
Bond May -- 6,904 6,599 10,405 76,994
- ------------------------------------------------------------------------------------------
Classic Value Dec -- 245 268 398 2,942
- ------------------------------------------------------------------------------------------
Core Equity Dec -- 2,664 2,619 3,700 27,574
- ------------------------------------------------------------------------------------------
Financial Industries Oct -- 8,389 7,961 10,988 83,405
- ------------------------------------------------------------------------------------------
Growth Trends Oct -- 1,242 1,177 1,628 12,350
- ------------------------------------------------------------------------------------------
Health Sciences Oct -- 1,680 1,590 2,201 16,428
- ------------------------------------------------------------------------------------------
High Income May -- 157 151 237 1,755
- ------------------------------------------------------------------------------------------
International Oct -- 126 107 171 1,253
- ------------------------------------------------------------------------------------------
Large Cap Growth Oct -- 1,144 1,083 1,499 11,376
- ------------------------------------------------------------------------------------------
Large Cap Select Dec -- 21 31 43 334
- ------------------------------------------------------------------------------------------
Massachusetts Tax-Free Aug -- 486 479 717 5,428
- ------------------------------------------------------------------------------------------
Mid Cap Growth Oct -- 785 790 1,096 8,256
- ------------------------------------------------------------------------------------------
New York Tax-Free Aug -- 354 350 523 3,957
- ------------------------------------------------------------------------------------------
Regional Bank Oct -- 14,633 13,873 19,174 145,490
- ------------------------------------------------------------------------------------------
Small Cap Equity Oct -- 2,654 2,515 3,478 26,388
- ------------------------------------------------------------------------------------------
Strategic Income May -- 7,656 7,337 11,256 85,138
- ------------------------------------------------------------------------------------------
U.S. Global Dec -- 2,475 2,365 3,567 26,331
Leaders Growth
- ------------------------------------------------------------------------------------------
Total Compensation -- $74,000 $72,750 $76,500 $607,500
from all Funds in
John Hancock Fund
Complex to Trustees(2)
- ------------------------------------------------------------------------------------------
22
Aggregate Compensation of the Independent Trustees
Fiscal
Year
Panel B End Carlin Cunningham+ Dion+ Ladner
- -------------------------------------------------------------------------------------------
Balanced Dec $ 399 $ 388 $ 407 $ 410
- -------------------------------------------------------------------------------------------
California Tax-Free Aug 2,441 2,485 2,490 2,866
- -------------------------------------------------------------------------------------------
Focused Equity Oct 87 85 44 87
- -------------------------------------------------------------------------------------------
Government Income May 4,124 4,022 4,120 4,665
- -------------------------------------------------------------------------------------------
High Yield May 7,745 7,631 7,767 8,849
- -------------------------------------------------------------------------------------------
High Yield Municipal Aug 745 759 760 871
- -------------------------------------------------------------------------------------------
Independence Diversified Feb 433 420 434 493
Core Equity
- -------------------------------------------------------------------------------------------
Investment Grade Bond May 1,460 1,426 1,460 1,654
- -------------------------------------------------------------------------------------------
Large Cap Equity Dec 5,271 5,142 5,327 5,341
- -------------------------------------------------------------------------------------------
Mid Cap Equity Oct 1 1 1 1
- -------------------------------------------------------------------------------------------
Multi Cap Growth Oct 31 30 31 31
- -------------------------------------------------------------------------------------------
Money Market Mar 2,374 2,317 2,390 2,700
- -------------------------------------------------------------------------------------------
Real Estate Oct 329 320 330 326
- -------------------------------------------------------------------------------------------
Small Cap Growth Oct 6,182 6,026 6,195 6,123
- -------------------------------------------------------------------------------------------
Sovereign Investors Dec 9,653 9,411 9,760 9,787
- -------------------------------------------------------------------------------------------
Tax-Free Bond Aug 3,645 3,712 4,238 4,279
- -------------------------------------------------------------------------------------------
Technology Oct 3,047 2,961 3,053 3,026
- -------------------------------------------------------------------------------------------
U.S. Government Mar 404 395 406 459
- -------------------------------------------------------------------------------------------
Cash Reserve
Total Compensation $76,250 $74,250 $77,250 $78,000
from all Funds in
John Hancock Fund
Complex to Trustees(2)
- -------------------------------------------------------------------------------------------
23
Aggregate Compensation of the Independent Trustees
Fiscal
Year
Panel B End Pruchansky+ Smith+** Toolan+* Total
- ---------------------------------------------------------------------------------------------
Balanced Dec $ 418 $ 405 $ 410 $ 2,837
- ---------------------------------------------------------------------------------------------
California Tax-Free Aug 2,535 2,441 2,418 17,676
- ---------------------------------------------------------------------------------------------
Focused Equity Oct 67 58 87 515
- ---------------------------------------------------------------------------------------------
Government Income May 4,290 4,124 4,000 29,345
- ---------------------------------------------------------------------------------------------
High Yield May 8,023 7,745 7,518 55,278
- ---------------------------------------------------------------------------------------------
High Yield Municipal Aug 774 745 737 5,391
- ---------------------------------------------------------------------------------------------
Independence Diversified Feb 448 443 431 3,102
- ---------------------------------------------------------------------------------------------
Core Equity
- ---------------------------------------------------------------------------------------------
Investment Grade Bond May 1,518 1,460 1,417 10,395
- ---------------------------------------------------------------------------------------------
Large Cap Equity Dec 5,456 5,369 5,341 37,247
- ---------------------------------------------------------------------------------------------
Mid Cap Equity Oct 1 1 1 7
- ---------------------------------------------------------------------------------------------
Multi Cap Growth Oct 31 32 31 217
- ---------------------------------------------------------------------------------------------
Money Market Mar 2,486 2,444 2,416 17,127
- ---------------------------------------------------------------------------------------------
Real Estate Oct 334 338 326 2,303
- ---------------------------------------------------------------------------------------------
Small Cap Growth Oct 6,279 6,362 6,123 43,290
- ---------------------------------------------------------------------------------------------
Sovereign Investors Dec 10,002 9,834 9,787 68,234
- ---------------------------------------------------------------------------------------------
Tax-Free Bond Aug 3,786 3,645 3,610 26,915
- ---------------------------------------------------------------------------------------------
Technology Oct 3,112 3,128 3,026 21,353
- ---------------------------------------------------------------------------------------------
U.S. Government Mar 423 415 411 2,913
Cash Reserve
- ---------------------------------------------------------------------------------------------
Total Compensation $79,250 $77,750 $78,250 $541,000
from all Funds in
John Hancock Fund
Complex to Trustees(2)
- ---------------------------------------------------------------------------------------------
(1) Mr. Ladner became a Panel A Trustee on June 16, 2004.
(2) The total compensation paid by the John Hancock fund complex to the
Independent Trustees for the calendar year ended December 31, 2003. Mr.
Chapman was Trustee of 20 funds, Messrs. Carlin, Cunningham, Dion, Ladner
and Pruchansky were Trustees of 29 funds. Mr. Moore and Ms. McGill Peterson
were Trustees of 30 funds in the John Hancock fund complex.
* Messrs. Aronowitz, Farrell, Glavin, Pratt and Toolan are retiring on
December 31, 2004.
** Messrs. Cosgrove and Smith are retiring on March 31, 2005 and June 30,
2005, respectively.
+ As of December 31, 2003, if the following Trustees were deemed to own the
shares used in computing the value of the aggregate accrued deferred
compensation amount from all funds in the John Hancock fund complex, that
value would be: for Mr. Chapman $63,573, for Mr. Cosgrove $210,257
(retiring), for Mr. Cunningham $563,218, for Mr. Dion $193,220, for Mr.
Glavin $306,646 (retiring), for Mr. Moore $248,464, for Mr. Pruchansky
$150,981, for Mr. Smith $276,224 (retiring) and for Mr. Toolan $633,254
(retiring), under the John Hancock Deferred Compensation Plan for
Independent Trustees ("the Plan"). Under the Plan, an Independent Trustee
may elect to have his deferred fees invested by a fund in shares of one or
more funds in the John Hancock fund complex, and the amount paid to the
Trustees under the Plan will be determined based upon the performance of
such investments. Deferral of Trustees' fees does not obligate any fund to
retain the services of any Trustee or obligate a fund to pay any particular
level of compensation to the Trustee.
24
Material Relationships of the Independent Trustees
As of December 31, 2003, none of the Independent Trustees, nor any immediate
family member, owned shares of John Hancock Advisers, LLC (the "Adviser") or a
principal underwriter of the funds, nor did any such person own shares of a
company controlling, controlled by or under common control with the Adviser or a
principal underwriter of the funds.
There have been no transactions by the funds since the beginning of the funds'
last two fiscal years, nor are there any transactions currently proposed, in
which the amount exceeds $60,000 and in which any Trustee of the funds or any
immediate family members has or will have a direct or indirect material
interest, nor have any of the foregoing persons been indebted to the funds in an
amount in excess of $60,000 at any time since that date.
No Independent Trustee, nor any immediate family member has had, in the past
five years, any direct or indirect interest, the value of which exceeds $60,000,
in the Adviser, a principal underwriter of the funds or in a person (other than
a registered investment company) directly or indirectly controlling, controlled
by or under common control with, the Adviser or principal underwriter of the
funds. Moreover, no Independent Trustee or immediate family member has, or has
had in the last two fiscal years of the funds, any direct or indirect
relationships or material interest in any transaction or in any currently
proposed transaction, in which the amount involved exceeds $60,000, in which the
following persons were or are a party: the funds, an officer of the funds, any
investment company sharing the same investment adviser or principal underwriter
as the funds or any officer of such a company, any investment adviser or
principal underwriter of the funds or any officer of such a party, any person
directly or indirectly controlling, controlled by or under common control with,
the Adviser or principal underwriter of the funds, or any officer of such a
person.
Within the last two completed fiscal years of the funds, no officer of any
investment adviser or principal underwriter of the funds or of any person
directly or indirectly controlling, controlled by or under common control with
the investment adviser or principal underwriter of the funds, has served as a
director on a board of a company where any of the Independent Trustees or
nominees of the funds, or immediate family members of such persons, has served
as an officer.
Legal Proceedings
There are no material pending legal proceedings to which any Trustee or
affiliated person is a party adverse to the funds or any of its affiliated
persons or has a material interest adverse to the funds or any of its affiliated
persons. In addition, there have been no legal proceedings that are material
25
to an evaluation of the ability or integrity of any Trustee or executive officer
of the funds within the past five years.
VOTING RIGHTS AND REQUIRED VOTE
Each share of your fund regardless of class is entitled to one vote and each
fractional share shall be entitled to a proportionate fractional vote. A quorum
is required to conduct business at the meeting. In order for a quorum to exist,
a majority of the shares outstanding and entitled to vote must be present, in
person or by proxy, as determined in accordance with the table below. Approval
of each Nominee requires the affirmative vote of a plurality of the shares of
your Trust outstanding and entitled to vote. For this purpose, a plurality of
the outstanding shares of your Trust means that, provided a quorum exists, the
nine Nominees up for election that receive the greatest number of votes will be
elected as Trustees regardless of the number of votes cast.
Proposal 1 is considered a "routine matter" on which brokers holding shares in
street name may vote without instruction.
Shares Quorum (Shares Present) Voting
- ------------------------------------------------------------------------------------
In General All shares "present" in In person. Shares present
person or by proxy are in person will be voted in
counted toward a quorum person at the meeting.
By proxy. Shares present
by proxy will be voted by
proxy in accordance with
instructions on the proxy
card.
- ------------------------------------------------------------------------------------
Broker Non-Vote Considered "present" at the Broker non-votes do not
(where the meeting for purposes of count as a vote "for".
underlying holder quorum
has not voted and
the broker does not
have discretionary
authority to vote the
shares)
- ------------------------------------------------------------------------------------
Proxy Without Considered "present" at the Voted "for" each proposal
Voting Instruction meeting for purposes of without voting
(other than a Broker quorum instructions.
Non-Vote)
- ------------------------------------------------------------------------------------
If the required approval of shareholders is not obtained, the meeting may be
adjourned as more fully described in this proxy.
26
INFORMATION CONCERNING THE MEETING
Solicitation of Proxies
In addition to the mailing of these proxy materials, proxies may be solicited by
telephone, by fax or in person by the Trustees, officers and employees of your
fund; by personnel of the Adviser, and your fund's transfer agent, John Hancock
Signature Services, Inc. ("JHSS"); or by broker-dealer firms. JHSS, together
with a third party solicitation firm, has agreed to provide proxy solicitation
services to the funds at a cost of approximately $3,500, per fund, which will be
paid by the funds.
Revoking Proxies
A fund shareholder signing and returning a proxy has the power to revoke it at
any time before it is exercised:
o By filing a written notice of revocation with John Hancock Signature
Services, Inc., 1 John Hancock Way, Suite 1000, Boston, MA 02217-1000, or
o By returning a duly executed proxy with a later date before the time of the
meeting, or
o If a shareholder has executed a proxy but is present at the meeting and
wishes to vote in person, by notifying the secretary of your fund (without
complying with any formalities) at any time before it is voted.
Being present at the meeting alone does not revoke a previously executed and
returned proxy.
27
OUTSTANDING SHARES AND VOTING REQUIREMENTS
On the record date, the following number of shares of beneficial interest of
each fund were outstanding:
Funds Class A Class B Class C Class I Class R
- ----------------------------------------------------------------------------------------------
Balanced 7,515,998 2,398,164 414,519 586,325 --
- ----------------------------------------------------------------------------------------------
Biotechnology 1,069,414 1,165,198 492,999 -- --
- ----------------------------------------------------------------------------------------------
Bond 68,160,515 10,112,893 2,025,808 302,754 6,829
- ----------------------------------------------------------------------------------------------
California Tax-Free 28,195,410 3,880,520 653,582 -- --
- ----------------------------------------------------------------------------------------------
Classic Value 35,792,298 6,963,374 13,608,113 5,878,822 54,975
- ----------------------------------------------------------------------------------------------
Core Equity 7,236,128 8,501,172 811,843 58,500 --
- ----------------------------------------------------------------------------------------------
Financial Industries 17,460,835 46,060,569 1,763,692 615 --
- ----------------------------------------------------------------------------------------------
Focused Equity 958,575 862,097 303,981 -- --
- ----------------------------------------------------------------------------------------------
Government Income 48,022,100 6,219,792 788,756 -- --
- ----------------------------------------------------------------------------------------------
Growth Trends 10,449,754 16,135,496 5,842,727 -- --
- ----------------------------------------------------------------------------------------------
Health Sciences 2,939,109 3,517,627 347,961 -- --
- ----------------------------------------------------------------------------------------------
High Income 1,615,159 980,429 424,831 10,000 --
- ----------------------------------------------------------------------------------------------
High Yield 72,650,334 91,278,852 27,277,934 -- --
- ----------------------------------------------------------------------------------------------
High Yield 8,291,156 3,747,747 953,365 -- --
Municipal
- ----------------------------------------------------------------------------------------------
Independence -- -- -- 4,171,731 --
Diversified Core
Equity
- ----------------------------------------------------------------------------------------------
International 9,544,439 4,283,394 598,914 184,586 --
- ----------------------------------------------------------------------------------------------
Investment Grade 14,172,706 3,024,032 933,960 104 --
Bond
- ----------------------------------------------------------------------------------------------
Large Cap Equity 22,717,540 15,252,865 1,982,802 722 --
- ----------------------------------------------------------------------------------------------
Large Cap Growth 14,394,488 4,537,643 375,326 -- --
- ----------------------------------------------------------------------------------------------
Large Cap Select 3,479,087 317,241 153,216 170,369 6,859
- ----------------------------------------------------------------------------------------------
Massachusetts 5,582,590 1,776,553 614,470 -- --
Tax-Free
- ----------------------------------------------------------------------------------------------
Mid Cap Equity 170,000 10,000 10,000 10,000 --
- ----------------------------------------------------------------------------------------------
Mid Cap Growth 11,876,158 4,785,393 398,490 298,237 --
- ----------------------------------------------------------------------------------------------
28
Funds Class A Class B Class C Class I Class R
- ----------------------------------------------------------------------------------------------
Money Market 212,898,183 88,334,638 14,712,413 -- --
- ----------------------------------------------------------------------------------------------
Multi Cap Growth 592,383 458,263 256,460 -- --
- ----------------------------------------------------------------------------------------------
New York Tax-Free 3,494,906 1,578,606 379,934 -- --
- ----------------------------------------------------------------------------------------------
Real Estate 1,466,461 1,473,226 823,988 -- --
- ----------------------------------------------------------------------------------------------
Regional Bank 33,748,091 21,507,413 1,145,005 -- --
- ----------------------------------------------------------------------------------------------
Small Cap Equity 12,576,331 10,592,795 3,854,803 1,178,636 11,181
- ----------------------------------------------------------------------------------------------
Small Cap Growth 55,006,720 22,031,262 2,340,933 10,334,123 --
- ----------------------------------------------------------------------------------------------
Sovereign Investors 49,690,990 13,369,893 1,461,707 152,812 6,202
- ----------------------------------------------------------------------------------------------
Strategic Income 97,494,719 74,469,100 40,130,909 224,210 21,679
- ----------------------------------------------------------------------------------------------
Tax-Free Bond 47,938,905 3,766,526 758,362 -- --
- ----------------------------------------------------------------------------------------------
Technology 70,135,925 50,371,545 6,270,911 2,571 --
- ----------------------------------------------------------------------------------------------
U.S. Global 19,573,172 7,325,716 8,115,417 312,997 59,024
Leaders Growth
- ----------------------------------------------------------------------------------------------
U.S. Government 54,243,582 -- -- -- --
Cash Reserve
- ----------------------------------------------------------------------------------------------
Only shareholders of record on the record date are entitled to notice of and to
vote at the meeting. A majority of the outstanding shares of each Trust that are
entitled to vote will be considered a quorum for the transaction of business.
29
Other Business
The fund's board of trustees knows of no business to be presented for
consideration at the meeting other than the proposal. If other business is
properly brought before the meeting, proxies will be voted according to the best
judgment of the persons named as proxies.
Adjournments
If, by the time scheduled for the meeting, a quorum of shareholders is not
present or if a quorum is present but sufficient votes "for" the proposal have
not been received, the persons named as proxies may propose one or more
adjournments of the meeting to another date and time, and the meeting may be
held as adjourned within a reasonable time after the date set for the original
meeting without further notice. Any such adjournment will require the
affirmative vote of a majority of the votes cast on the question in person or by
proxy at the session of the meeting to be adjourned. The persons named as
proxies will vote all proxies in favor of the adjournment that voted in favor of
the proposal or that abstained. They will vote against such adjournment those
proxies required to be voted against the proposal. Broker non-votes will be
disregarded in the vote for adjournment. If the adjournment requires setting a
new record date or the adjournment is for more than 60 days from the original
meeting (in which case the board of trustees of your fund will set a new record
date), your fund will give notice of the adjourned meeting to its shareholders.
Telephone Voting
In addition to soliciting proxies by mail, by fax or in person, your fund(s) may
also arrange to have votes recorded by telephone by officers and employees of
your fund(s) or by personnel of the adviser or transfer agent or a third party
solicitation firm. The telephone voting procedure is designed to verify a
shareholder's identity, to allow a shareholder to authorize the voting of shares
in accordance with the shareholder's instructions and to confirm that the voting
instructions have been properly recorded.
o A shareholder will be called on a recorded line at the telephone number in
the fund's account records and will be asked to provide the shareholder's
social security number or other identifying information.
o The shareholder will then be given an opportunity to authorize proxies to
vote his or her shares at the Meeting in accordance with the shareholder's
instructions.
Alternatively, a shareholder may call the funds' Voice Response Unit to vote;
o Read the proxy statement and have your proxy card at hand.
o Call the toll-free number located on your proxy card.
30
o Enter the 12- or 14-digit "control number" found on your proxy card.
o Follow recorded instructions.
With both methods of telephone voting, to ensure that the shareholder's
instructions have been recorded correctly, the shareholder will also receive a
confirmation of the voting instructions by mail with a toll-free number to call
if the voting information contained in the confirmation is incorrect.
If the shareholder decides after voting by telephone to attend the Meeting, the
shareholder can revoke the proxy at that time and vote the shares at the
Meeting.
Internet Voting
You will also have the opportunity to submit your voting instructions via the
Internet by utilizing a program provided through a vendor. Voting via the
Internet will not affect your right to vote in person if you decide to attend
the meeting. Do not mail the proxy card if you are voting via the Internet. To
vote via the Internet, you will need the "control number" that appears on your
proxy card. These Internet voting procedures are designed to authenticate
shareholder identities, to allow shareholders to give their voting instructions
and to confirm that shareholders instructions have been recorded properly. If
you are voting via the Internet you should understand that there may be costs
associated with electronic access, such as usage charges from Internet access
providers and telephone companies, that must be borne by you.
o Read the proxy statement and have your proxy card at hand.
o Go to the Web site www.jhfunds.com.
o Enter the 12- or 14-digit "control number" found on your proxy card.
o Follow the recorded instructions. Please call us at 1-800-225-5291 if you
have any problems.
o To insure that your instructions have been recorded correctly, you will
receive a confirmation of your voting instructions immediately after your
submission and also by e-mail if chosen.
SHAREHOLDER'S PROPOSALS
Your fund is not required and does not intend to hold meetings of shareholders
each year. Instead, meetings will be held only when and if required. Any
shareholders desiring to present a proposal for consideration at the next
meeting for shareholders must submit the proposal in writing, so that it is
received by your fund at 101 Huntington Avenue, Boston, Massachusetts 02199
within a reasonable time before any meeting.
31
AVAILABLE INFORMATION
Your fund is subject to the informational requirements of the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 and files reports,
proxy statements and other information with the SEC. These reports, proxy
statements and other information filed by your fund can be inspected and copied
(for a duplication fee) at the public reference facilities of the SEC at 450
Fifth Street, N.W., Washington, D.C., Northeast Regional Office, The Woolworth
Building, 233 Broadway, New York, New York 10279 and at the Midwest Regional
Office (500 West Madison Street, Suite 1400, Chicago, Illinois). Copies of these
materials can also be obtained by mail from the Public Reference Section of the
SEC at 450 Fifth Street, N.W., Washington, D.C. 20549, at prescribed rates. In
addition, copies of these documents may be viewed on-screen or downloaded from
the SEC's Internet site at http://www.sec.gov.
32
OWNERSHIP OF SHARES IN THE FUND
To the knowledge of the funds, as of September 16, 2004, the following persons
owned of record or beneficially 5% or more of the outstanding Class A, Class B,
Class C, Class I or Class R shares of the funds.
Balanced Class A Class B Class C Class I Class R
- --------------------------------------------------------------------------------------------
MLPF&S For The Sole Benefit -- 5.08% -- -- --
of Its Customers
Attn: Fund Administration
4800 Deer Lake Drive E 2nd Fl
Jacksonville FL
Citigroup Global Markets Inc. -- -- 12.79% -- --
ATTN: Cindy Tempesta
333 West 34th Street
New York NY
C/O R G Leather Company Inc. -- -- 7.28% -- --
First Clearing LLC
Lucy Bou
46-55 Metropolitan Avenue
Ridgewood NY
MCB Trust Services Custodian FBO -- -- -- 25.51% --
ACP-ASIM A
700 17th St STE 150
Denver CO
MCB Trust Services Custodian FBO -- -- -- 24.19% --
Cape Ann Local Lodge #2654
401K Plan
700 17th St STE 150
Denver CO
MCB Trust Services Custodian FBO -- -- -- 18.76% --
Derlan Precision Gear
Vol Savings
700 17th St STE 150
Denver CO
MCB Trust Services Custodian FBO -- -- -- 13.05% --
Manistique Papers Inc. 401k
700 17th St STE 150
Denver CO
MCB Trust Services Custodian FBO -- -- -- 8.88% --
One Color Comm 401k
700 17th St STE 150
Denver CO
MCB Trust Services Custodian FBO -- -- -- 8.44% --
ACP-ASIM B
700 17th St STE 150
Denver CO
33
Biotechnology Class A Class B Class C Class I Class R
- -----------------------------------------------------------------------------------------
MLPF&S For The Sole Benefit -- 9.18% 8.20% -- --
of Its Customers
Attn: Fund Administration
4800 Deer Lake Drive East 2nd Fl
Jacksonville FL
Bond
- -----------------------------------------------------------------------------------------
MLPF&S For The Sole Benefit -- 20.02% 26.78% -- --
of Its Customers
Attn Fund Administration
4800 Deer Lake Drive East 2nd Fl
Jacksonville FL
MCB Trust Services -- -- -- 43.16% --
Custodian FBO
The Investment Incentive Plan
700 17th St Ste 150
Denver CO
MCB Trust Services Custodian FBO -- -- -- 16.66% --
Arden Group 401k Retirement
Savings Plan
700 17th St Ste 150
Denver CO
MCB Trust Services Custodian FBO -- -- -- 13.10% --
Manistique Papers Inc 401k
700 17th St Ste 150
Denver CO
MCB Trust Services Custodian FBO -- -- -- 7.74% --
ACP-ASIM A
700 17th St Ste 150
Denver CO
Investors Bank and Trust Co. Cust -- -- -- 6.37% --
ICMA FBO Option Account
Country Sanitation District No 2
of La Country Dep Comp
777 N Capitol St NE Ste 600
Washington DC
John Hancock Advisers LLC -- -- -- -- 98.08%
Attn: Kelly A. Conway
101 Huntington Avenue
Boston MA
34
California Tax-Free Class A Class B Class C Class I Class R
- ----------------------------------------------------------------------------------------
MLPF&S For The Sole Benefit 5.88% 19.96% 50.92% -- --
of Its Customers
Attn: Fund Administration
4800 Deerlake Drive East 2nd Floor
Jacksonville FL
Citigroup Global Markets Inc. 5.67% 7.38% 8.83% -- --
333 West 34th Street
New York NY
A G Edwards & Sons Inc. 6.31% -- -- -- --
Ethel R. Wells
1 North Jefferson Ave
Saint Louis MO
Classic Value
- -----------------------------------------------------------------------------------------
MLPF&S for the Sole Benefit 11.33% 16.10% 23.42% -- 37.06%
of Its Customers
Attn: Fund Administration
4800 Deer Lake Drive East 2nd Fl
Jacksonville FL
Charles Schwab & Co Inc. 5.17% -- -- 8.03% --
Mutual Funds Dept
101 Montgomery St
San Francisco CA
Pershing LLC -- -- -- 5.77% 10.94%
P.O. Box 2052
Jersey City NJ
Citigroup Global Markets Inc. -- 10.39% 13.54% -- --
333 W 34th Street
New York NY
Twin City Floor Covering -- -- -- 5.86% --
Pension Fund
7645 Metro Blvd
Edina MN
Community FDTN of St Joseph County -- -- -- 5.60% --
Rose Meissner TTEE
Anita Echevarria TTEE
P.O. Box 837
South Bend IN
Diocese of Metuchen -- -- -- 5.27% --
146 Metlars Ln
Piscataway NJ
35
Classic Value Class A Class B Class C Class I Class R
- -----------------------------------------------------------------------------------------------
BISYS Retirement Services FBO -- -- -- -- 10.34%
McNamee Hose A Et Al Retirement Plan
700 17th St Ste 150
Denver CO
MCB Trust Services Custodian FBO -- -- -- -- 5.23%
American Claim Services Inc.
700 17th St Ste 150
Denver CO
John Hancock Advisers LLC -- -- -- -- 10.58%
Attn: Kelly A. Conway
101 Huntington Avenue
Boston MA
Core Equity
- -----------------------------------------------------------------------------------------------
MLPF&S For The Sole Benefit -- 9.80% 13.57% -- --
of its Customers
Attn Fund Administration
4800 Deer Lake Drive East 2nd Floor
Jacksonville FL
Independence Investment Associates -- -- -- 73.94% --
53 State Street
Boston MA
MCB Trust Services Custodian FBO -- -- -- 13.36% --
Manistique Papers Inc. 401k
700 17th St Ste 150
Denver Co
Financial Industries
- -----------------------------------------------------------------------------------------------
Citigroup Global Markets Inc. 5.31% 7.72% 11.60% -- --
333 West 34th Street
New York NY
MLPF&S For The Sole Benefit 9.30% 23.33% 20.31% -- --
of Its Customers
Attn: Fund Administration
4800 Deer Lake Drive East 2nd Fl
Jacksonville FL
John Hancock Advisers LLC -- -- -- 100.0% --
Attn: Kelly A. Conway
101 Huntington Avenue
Boston MA
Focused Equity
- -----------------------------------------------------------------------------------------------
MLPF&S For the Sole Benefit 11.52% -- 12.65% -- --
of its Customers
Attn: Fund Administration
4800 Deer Lake Drive East 2nd Fl
Jacksonville FL
36
Focused Equity Class A Class B Class C Class I Class R
- ---------------------------------------------------------------------------------------
Paul Spivak -- -- 5.41% -- --
120 Grienbrier Dr
Carnegie PA
John Hancock Advisers LLC 10.22% -- -- -- --
Attn: Kelly A. Conway
101 Huntington Avenue
Boston MA
Government Income
- ---------------------------------------------------------------------------------------
MLPF&S For the Sole Benefit -- 17.07% 5.99% -- --
of Its Customers
Attn: Fund Administration 974U0
4800 Deerlake Drive East 2nd Fl
Jacksonville FL
Citigroup Global Markets Inc. -- -- 14.77% -- --
333 West 34th Street
New York NY
Growth Trends
- ---------------------------------------------------------------------------------------
MLPF&S For The Sole Benefit 5.95% 23.49% 21.88% -- --
of Its Customers
Attn: Fund Administration
4800 Deer Lake Drive East 2nd Fl
Jacksonville FL
Health Sciences
- ---------------------------------------------------------------------------------------
MLPF&S For The Sole Benefit -- 7.51% 13.17% -- --
of Its Customers
Attn: Fund Administration
4800 Deerlake Drive East
Jacksonville FL
Citigroup Global Markets Inc. -- 5.77% 6.63% -- --
333 West 34th Street
New York NY
37
High Income Class A Class B Class C Class I Class R
- -----------------------------------------------------------------------------------------------
John Hancock Advisers LLC 60.06% -- -- 100.0% --
Attn: Kelly A. Conway
101 Huntington Avenue
Boston MA
MLPF&S For the Sole Benefit -- 9.00% 18.46% -- --
of Its Customers
Attn: Fund Administration
4800 Deer Lake Drive East 2nd Fl
Jacksonville FL
NFSC FEBO -- -- 6.10% -- --
NFS/FMTC IRA
FBO Joyce R Hurley
PO Box 43
Arden NY
High Yield
- -----------------------------------------------------------------------------------------------
MLPF&S For The Sole Benefit 5.76% 15.02% 18.72% -- --
of Its Customers
Attn: Fund Administration
4800 Deerlake Drive East 2nd Floor
Jacksonville FL
Citigroup Global Markets Inc. -- 7.81% 10.48% -- --
333 West 34th Street
New York NY
High Yield Municipal
- -----------------------------------------------------------------------------------------------
MLPF&S For the Sole Benefit 10.76% 16.82% -- -- --
of Its Customers
4800 Deerlake Drive East 2nd Floor
Jacksonville FL
Citigroup Global Markets Inc. 5.28% 12.16% -- -- --
333 West 34th Street
New York NY
Legg Mason Wood Walker Inc. -- -- 13.50% -- --
For Exclusive Benefit of Customers
PO Box 1476
Baltimore MD
Independence Diversified
Core Equity
- -----------------------------------------------------------------------------------------------
Peter Kamin -- -- -- 27.25% --
Knowles Electronics Inc.
Pension Trust
1151 Maplewood Drive
Itasca IL
38
Independence Diversified
Core Equity Class A Class B Class C Class I Class R
- --------------------------------------------------------------------------------------------
MCB Trust Services Custodian -- -- -- 13.90% --
Derlan Precision Gear
Vol Savings
700 17th St Ste 150
Denver CO
MCB Trust Services Custodian FBO -- -- -- 11.82% --
The Investment Incentive Plan
700 17th St Ste 150
Denver CO
MCB Trust Services Custodian FBO -- -- -- 9.08% --
Cape Ann Local Lodge #2654
401K Plan
700 17th St Ste 150
Denver CO
Gaylord Brothers -- -- -- 8.33% --
c/o GIS Information Systems Inc.
Attn: James Rowley
PO Box 4903
Syracuse NY
MCB Trust Services Custodian FBO -- -- -- 8.48% --
ACP-ASIM A
700 17th St Ste 150
Denver CO
MCB Trust Services Custodian FBO -- -- -- 6.57% --
Manistique Papers Inc. 401K
700 17th St Ste 150
Denver CO
International
- --------------------------------------------------------------------------------------------
MLPF&S For The Sole Benefit -- 9.11% -- -- --
of Its Customers
Attn: Fund Administration
4800 Deer Lake Drive E 2nd Fl
Jacksonville FL
MCB Trust Services Custodian FBO -- -- 7.46% -- --
Merchants & Manufacturers
Bancorp Retirement Plan
700 17th St Suite 150
Denver CO
MCB Trust Services Custodian FBO -- -- -- 71.54% --
The Investment Incentive Plan
700 17th St Suite 150
Denver CO
39
International Class A Class B Class C Class I Class R
- ---------------------------------------------------------------------------------------------
MCB Trust Services Custodian FBO -- -- -- 15.26% --
One Color Comm 401K
Retirement Plan
700 17th St Suite 150
Denver CO
MCB Trust Services Custodian -- -- -- 8.80% --
FBO Manistique Papers Inc. 401K
700 17th St Suite 150
Denver CO
Investment Grade Bond
- ---------------------------------------------------------------------------------------------
MLPF&S For The Sole Benefit -- 29.49% 24.54% -- --
of Its Customers
Attn: Fund Administration
4800 Deerlake Drive East 2nd Floor
Jacksonville FL
Citigroup Global Markets Inc. -- -- 14.67% -- --
333 West 34th Street
New York NY
Large Cap Equity
- ---------------------------------------------------------------------------------------------
MLPF&S For The Sole Benefit -- 8.98% 8.25% -- --
of its Customers
Attn: Fund Administration
4800 Deerlake Drive East 2nd Fl
Jacksonville FL
Citigroup Global Markets Inc. -- -- 6.78% -- --
333 West 34th Street
New York NY 10001
John Hancock Advisers LLC -- -- -- 100.0% --
Attn: Kelly A. Conway
101 Huntington Avenue
Boston MA
Large Cap Growth
- ---------------------------------------------------------------------------------------------
MLPF&S For The Sole Benefit -- 6.73% -- -- --
of Its Customers
Attn: Fund Administration
4800 Deer Lake Drive East 2nd Fl
Jacksonville FL
Citigroup Global Markets Inc. -- -- 6.55% -- --
333 West 34th Street
New York NY
40
Large Cap Select Class A Class B Class C Class I Class R
- -----------------------------------------------------------------------------------------------
Richard A. Horowitz -- -- 8.77% -- --
5 Fir Dr
Kings Point NY
MLPF&S For the Sole Benefit -- 12.90% 9.54% -- --
of Its Customers
Attn: Fund Administration
4800 Deer Lake Drive East 2nd Fl
Jacksonville FL
Citigroup Global Markets Inc. -- 7.26% 5.09% -- --
333 West 34th Street
New York NY
Diversified Invest Advrs Coll Trust -- -- -- 100.0% --
4 Manhattanville Road
Purchase NY
John Hancock Advisers LLC -- -- -- -- 85.26%
Attn: Kelly A. Conway
101 Huntington Avenue
Boston MA
MCB Trust Services Custodian -- -- -- -- 6.15%
Inkstone Printing Company Inc.
700 17th St Suite 150
Denver CO
MCB Trust Services CUST FBO -- -- -- -- 5.24%
Robinson Financial 401k Plan
700 17th St STE 300
Denver CO
Massachusetts Tax-Free
- -----------------------------------------------------------------------------------------------
Prudential Securities, Inc. 5.12% -- -- -- --
Special Custody Account For
Exclusive Benefit of Customers
Attn: Surpas Omnibus Dep
1 New York Plaza
New York NY
MLPF&S For The -- 13.65% 20.59% -- --
Sole Benefit of Its Customers
Attn: Fund Administration 97M77
4800 Deerlake Drive East 2nd Floor
Jacksonville FL
Pershing LLC -- -- 7.28% -- --
PO Box 2052
Jersey City NJ
William A. Murby Sr -- -- 5.07% -- --
Louise M. Murby Jt. Wros.
140 Broadway
Raynham MA
41
Mid Cap Equity Class A Class B Class C Class I Class R
- -----------------------------------------------------------------------------------------------
John Hancock Advisers LLC 100.0% 100.0% 100.0% 100.0% --
Attn: Kelly A. Conway
101 Huntington Avenue
Boston MA
Mid Cap Growth
- -----------------------------------------------------------------------------------------------
MCB Trust Services Custodian FBO -- -- -- 87.23% --
The Investment Incentive Plan
700 17th St Suite 150
Denver CO
MCB Trust Services Custodian FBO -- -- -- 7.61% --
One Color Comm 401K
Retirement Plan
700 17th St Ste 150
Denver CO
Citigroup Global Markets, Inc. -- -- 5.90% -- --
333 West 34th Street
New York NY
Money Market
- -----------------------------------------------------------------------------------------------
Citigroup Global Markets Inc. -- -- 10.99% -- --
333 West 34th Street 7th Floor
New York NY
Multi Cap Growth
- -----------------------------------------------------------------------------------------------
John Hancock Advisers, LLC 33.09% -- -- -- --
Attn. Kelly A. Conway
101 Huntington Avenue
Boston MA
MCB Trust Services Custodian FBO 10.18% -- -- -- --
The Investment Incentive Plan
700 17th St Suite 150
Denver CO
MLPF&S For The Sole Benefit -- 9.23% -- -- --
of Its Customers
Attn: Fund Administration
4800 Deer Lake Drive E 2nd Fl
Jacksonville FL
New York Tax-Free
- -----------------------------------------------------------------------------------------------
MLPF&S For The Sole Benefit -- 16.65% -- -- --
of Its Customers
Attn: Fund Administration
4800 Deer Lake Drive E 2nd Fl
Jacksonville FL
42
New York Tax-Free Class A Class B Class C Class I Class R
- ---------------------------------------------------------------------------------------------
Legg Mason Wood Walker Inc -- -- 23.80% -- --
For Exclusive Benefit of Customers
P.O. Box 1476
Baltimore MD
UBS Financial Services Inc. FBO -- -- 9.89% -- --
Janet Schwartz Feldman
5 Cherry Lane
Kings Point NY
US Clearing Corp -- -- 6.13% -- --
FBO 120-12596-19
26 Broadway
New York NY
Citigroup Global Markets Inc. -- 6.54% 7.11% -- --
333 West 34th Street
New York NY
Real Estate
- ---------------------------------------------------------------------------------------------
NFSC FEBO 6.78% -- -- -- --
Premiere Select Retirement Plan
NFSC/FMTC TTEE
24610 Detroit Road
Teal Place Suite 2000
Cleveland OH
MLP&F For the Sole Benefit -- 11.92% -- -- --
of its Customers
Attn: Fund Administration
4800 Deer Lake Drive East 2nd Fl
Jacksonville FL
Regional Bank
- ---------------------------------------------------------------------------------------------
MLPF&S For The Sole Benefit 12.81% 17.28% 21.86% -- --
of Its Customers
Attn: Fund Administration
4800 Deer Lake Drive E 2nd Fl
Jacksonville FL
Citigroup Global Markets Inc. 6.52% 7.58% 9.36% -- --
333 West 34th Street
New York NY
Legg Mason Wood Walker Inc -- -- 7.97% -- --
For Exclusive Benefit of Customers
P.O. Box 1476
Baltimore MD
43
Small Cap Equity Class A Class B Class C Class I Class R
- ----------------------------------------------------------------------------------------------
MLPF&S For The Sole Benefit 11.05% 13.84% 14.71% -- --
of Its Customers
Attn: Fund Administration
4800 Deer Lake Drive E 2nd Fl
Jacksonville FL
Citigroup Global Markets, Inc. -- 5.51% 13.79% -- --
333 West 34th Street
New York NY
NFSC FEBO -- -- -- 79.09% --
FIIOC Agent FBO
Qualified Employee Plans 401K
FINOPS-IC Funds
100 Magellan Way #KW1C
Covington KY
MCB Trust Services Custodian FBO -- -- -- 17.07% --
The Investment Incentive Plan
700 17th St STE 150
Denver CO
John Hancock Advisers LLC -- -- -- -- 66.20%
Attn: Kelly A. Conway
101 Huntington Avenue
Boston MA
MCB Trust Services Custodian FBO -- -- -- -- 9.95%
Inkstone Printing Company Inc.
700 17th St Suite 150
Denver CO
MCB Trust Services Custodian FBO -- -- -- -- 7.72%
Rock and Associates
700 17th St STE 150
Denver CO
MCB Trust Services Custodian FBO -- -- -- -- 6.18%
Retirement Plan Solutions
700 17th St STE 150
Denver CO
Small Cap Growth
- ----------------------------------------------------------------------------------------------
MLPF&S For The Sole Benefit 14.55% 21.00% 43.66% -- --
of its Customers
Attn: Fund Administration
4800 Deerlake Drive East 2nd Floor
Jacksonville FL
NFSC FEBO -- -- -- 69.02% --
FIIOC Agent FBO
Qualified Employee Plans 401K
FINOPS-IC Funds
100 Magellan Way #KW1C
Covington KY
44
Small Cap Growth Class A Class B Class C Class I Class R
- ------------------------------------------------------------------------------------------
Fidelity Investments Institutional -- -- -- 26.05% --
Operations Co (FIIOC) -- As Agent
For Certain Employee Benefit Plans
82 Devonshire St
Boston MA
Sovereign Investors
- ------------------------------------------------------------------------------------------
MCB Trust Services Custodian FBO -- -- -- 91.32% --
The Investment Incentive Plan
700 17th St Suite 150
Denver CO
Citigroup Global Markets Inc -- -- 6.10% -- --
333 West 34th Street
New York NY
MLPF&S For The Sole Benefit -- -- 5.36% -- --
of Its Customers
Attn: Fund Administration
4800 Deer Lake Drive East 2nd Fl
Jacksonville FL
Legg Mason Wood Walker Inc -- -- 5.60% -- --
For Exclusive Benefit of Customers
P.O. Box 1476
Baltimore MD
John Hancock Advisers LLC -- -- -- -- 96.96%
Attn: Kelly A. Conway
101 Huntington Avenue
Boston MA
Strategic Income
- ------------------------------------------------------------------------------------------
MCB Trust Services Custodian FBO -- -- -- 59.91% --
The Investment Incentive Plan
700 17th St STE 150
Denver CO
Aspen Education Group ISOP Trust -- -- -- 21.25% --
TTEE Alta Heimbuck
555 SW Oak St #PL6
Portland OR
MLPF&S For The Sole Benefit -- 19.17% 35.85% 11.51% --
of Its Customers
Attn Fund Administration
4800 Deer Lake Drive East 2nd Fl
Jacksonville FL
Citigroup Global Markets Inc -- 6.60% 8.29% -- --
333 West 34th Street
New York NY
45
Strategic Income Class A Class B Class C Class I Class R
- -------------------------------------------------------------------------------------------
John Hancock Advisers LLC -- -- -- -- 67.54%
Attn: Kelly A. Conway
101 Huntington Avenue
Boston MA
MCB Trust Services Custodian -- -- -- -- 13.05%
Inkstone Printing Company Inc.
700 17th St Suite 150
Denver CO
MCB Trust Services Custodian -- -- -- -- 11.24%
American Claim Services Inc.
700 17th St Ste 150
Denver CO
Tax-Free Bond
- -------------------------------------------------------------------------------------------
MLPF&S For The Sole Benefit -- 9.91% 16.60% -- --
of Its Customers
Attn: Fund Administration
4800 Deerlake Drive East 2nd Floor
Jacksonville FL
Citigroup Global Markets Inc. -- -- 7.57% -- --
333 West 34th Street
New York NY
Stanley C. Younger -- -- 7.05% -- --
Henrietta Younger
4719 Horseshoe Trl
Macungie PA
UBS Financial Services Inc. FBO -- -- 5.67% -- --
Janet Schwartz Feldman
5 Cherry Lane
Kings Point NY
Technology
- -------------------------------------------------------------------------------------------
NFSC FEBO 10.43% -- -- -- --
FIIOC Agent FBO
Qualified Employee Plans 401K
FINOPS-IC Funds
100 Magellan Way # KW1C
Covington KY
MLPF&S For The Sole Benefit -- 9.39% 12.52% -- --
of its Customers
Attn: Fund Administration 974DB0
4800 Deerlake Drive East 2nd Floor
Jacksonville FL
Citigroup Global Markets, Inc. -- 6.56% 13.94% -- --
333 West 34th Street
New York NY
46
Technology Class A Class B Class C Class I Class R
- -------------------------------------------------------------------------------------------
John Hancock Advisers LLC -- -- -- 100.0% --
Attn: Kelly A. Conway
101 Huntington Avenue
Boston MA
U.S. Global Leaders Growth
- -------------------------------------------------------------------------------------------
MLPF&S For the Sole Benefit 13.49% 18.97% 35.20% 12.43% 81.07%
of Its Customers
Attn Fund Administration
4800 Deer Lake Drive East 2nd Fl
Jacksonville FL
Charles Schwab & Co 5.68% -- -- -- --
101 Montgomery Street
San Francisco CA
Citigroup Global Markets Inc -- 7.01% 10.27% -- --
333 West 34th Street
New York NY
Canal Securities Company -- -- -- 34.22% --
One Chemung Canal Plaza
Elmira NY
MCB Trust Services Custodian -- -- -- 26.65% --
The Investment Incentive Plan
700 17th St Ste 150
Denver CO
Putnam Fiduciary Trust Co. TTEE FBO -- -- -- 7.54% --
Horizon Savings Investment Plan
One Investors Way
Norwood MA
John Hancock Advisers LLC -- -- -- -- 7.36%
Attn: Kelly A. Conway
101 Huntington Avenue
Boston MA
U.S. Government Cash Reserve
- -------------------------------------------------------------------------------------------
MCB Trust Services Custodian FBO 5.09% -- -- -- --
Derlan Precision Gear
Vol Savings
700 17th St Suite 150
Denver CO
As of September 16, 2004, the Trustees and officers of each fund owned in the
aggregate less than 1% of the outstanding shares of that fund.
47
EXHIBIT A
JOHN HANCOCK FUNDS
ADMINISTRATION COMMITTEE CHARTER
A. Composition. The Administration Committee shall be composed of all Trustees
who are both "independent" as defined in the rules of the New York Stock
Exchange and are not "interested persons" as defined in the Investment Company
Act of 1940 of John Hancock Adviser LLC or of the Trust (the "Independent
Trustees").
B. Overview. The overall charter of the Administration Committee is: (i) to
review and comment on complex-wide matters to facilitate uniformity among the
funds; (ii) to select and nominate Independent Trustees to be added to the
Board; (iii) to oversee liaison between management and the Independent
Trustees; (iv) to review the performance of the Independent Trustees as
appropriate; (v) to review matters relating to the Independent Trustees, such
as compensation, retirement arrangements, Committee assignments and the like;
(vi) to consider matters of general corporate governance applicable to the
Independent Trustees, and (vii) when appropriate, to oversee the assignment of
tasks to other Committees.
C. Nomination of Independent Trustees
1. Selection of Trustee Nominees. Except where the funds are legally
required to provide third parties with the ability to nominate trustees, the
Administration Committee shall be responsible for (i) identifying individuals
qualified to become Independent Trustees and (ii) recommending to the Board of
Trustees the persons to be nominated for election as Independent Trustees at
any meeting of stockholders and the persons to be elected by the Board to fill
any vacancies on the Board by the death, resignation or removal of an
Independent Trustee. Persons to serve as Trustees who are not Independent
Trustees shall be nominated by the Board.
2. Criteria for Selecting Trustees. The Administration Committee shall
use the criteria and the principles set forth on Annex A, as revised from time
to time, to guide its trustee selection process. The Administration Committee
shall periodically review the requisite skills and criteria for Independent
Trustees as well as the composition of the Board as a whole. The Committee
shall adopt, and periodically review and revise as it deems appropriate,
procedures regarding trustee candidates recommended by shareholders. The
current policy is attached as Annex A.
D. Other Specific Responsibilities. The Administration Committee shall have
the following duties and powers, to be exercised at such times and in such
manner as the Committee shall deem necessary or appropriate:
A-1
1. To consider the allocation of activities among the various Committees
and the full Board, to suggest to the Committees the degree of detail in their
reports to the full Board, and to establish membership and rotation policies
for Committees.
2. To consider the number of funds under supervision by the Independent
Trustees and the ability of the Independent Trustees to discharge successfully
their fiduciary duties and to pursue self-education in mutual fund matters.
3. To propose the amount of compensation to be paid by the funds to the
Independent Trustees and to address compensation-related matters, such as
expense reimbursement policies.
4. To evaluate, from time to time, the time, energy, expertise,
knowledge, judgment and personal skills which Independent Trustees brings to
the Board and to consider retirement policies for the Independent Trustees.
5. To participate in the development of agendas for Board and Committee
meetings.
6. To consider, evaluate and make recommendations regarding the type and
amount of fidelity bond, and director and officer and/or errors and omission
insurance coverage, for the funds, the Board and the Independent Trustees, as
applicable.
7. To consider, evaluate and make recommendations and necessary findings
regarding independent legal counsel and any other advisers, experts or
consultants, that may be engaged from time to time, other than as may be
engaged directly by another Committee.
8. To evaluate feedback from shareholders as appropriate. Annex A
includes procedures for shareholders to communicate with the members of the
Administration Committee.
E. Additional Responsibilities. The Committee will also perform other tasks
assigned to it from time to time by full Board, and will report findings and
recommendations to the full Board, as appropriate.
F. Governance. One member of the Committee shall be appointed as chair. The
chair shall be responsible for leadership of the Committee, including
scheduling meetings or reviewing and approving the schedule for them, preparing
agendas or reviewing and approving them before meetings, presiding over
meetings, and making reports to the full Board, as appropriate.
G. Miscellaneous. The Committee shall meet as often as it deems appropriate,
with or without management, as circumstances require. The Committee shall have
the resources and authority appropriate to discharge its
A-2
responsibilities, including the authority to retain special counsel and other
advisers, experts or consultants, at the funds' expense, as it determines
necessary to carry out its duties. The Committee shall have direct access to
such officers of and service providers to the funds as it deems desirable.
H. Review. The Committee shall review this Charter periodically and recommend
such changes to the full Board as it deems desirable.
A-3
ANNEX A
General Criteria
1. Nominees should have a reputation for integrity, honesty and adherence to
high ethical standards.
2. Nominees should have demonstrated business acumen, experience and ability
to exercise sound judgments in matters that relate to the current and
long-term objectives of the fund(s) and should be willing and able to
contribute positively to the decision-making process of the fund(s).
3. Nominees should have a commitment to understand the fund(s), and the
responsibilities of a Trustee/Director of an investment company and to
regularly attend and participate in meetings of the Board and its
committees.
4. Nominees should have the ability to understand the sometimes conflicting
interests of the various constituencies of the fund, including shareholders
and the management company, and to act in the interests of all
shareholders.
5. Nominees should not have, nor appear to have, a conflict of interest that
would impair the nominee's ability to represent the interests of all the
shareholders and to fulfill the responsibilities of a director /trustee.
6. Nominees shall not be discriminated against on the basis of race, religion,
national origin, sex, sexual orientation, disability or any other basis
proscribed by law. The value of diversity on the Board should be
considered.
Application of Criteria to Existing
The renomination of existing Trustees should not be viewed as automatic, but
should be based on continuing qualification under the criteria set forth above.
In addition, the Administrative Committee shall consider the existing trustees'
performance on the Board and any committee.
Review of Shareholder Nominations
Any shareholder recommendation must be submitted in compliance with all of the
pertinent provisions of Rule 14a-8 under the Securities Exchange Act of 1934 to
be considered by the Administration Committee. In evaluating a nominee
recommended by a shareholder, the Administration Committee, in addition to the
criteria discussed above, may consider the objectives of the shareholder in
submitting that nomination and whether such objectives are consistent with the
interests of all shareholders. If the Board determines to include a
shareholder's candidate among the slate of nominees, the candidate's name will
be placed on the fund's proxy card. If the Administration
A-4
Committee or the Board determines not to include such candidate among the
Board's designated nominees and the shareholder has satisfied the requirements
of Rule 14a-8, the shareholder's candidate will be treated as a nominee of the
shareholder who originally nominated the candidate. In that case, the candidate
will not be named on the proxy card distributed with the fund's proxy statement.
As long as an existing Independent Trustee continues, in the opinion of the
Administration Committee, to satisfy the criteria listed above, the Committee
generally would favor the re-nomination of an existing Trustee rather than a new
candidate. Consequently, while the Administration Committee will consider
nominees recommended by shareholders to serve as trustees, the Administration
Committee may only act upon such recommendations if there is a vacancy on the
Board or the Administration Committee determines that the selection of a new or
additional Independent Trustee is in the best interests of the fund. In the
event that a vacancy arises or a change in Board membership is determined to be
advisable, the Administration Committee will, in addition to any shareholder
recommendations, consider candidates identified by other means, including
candidates proposed by members of the Administration Committee. While it has not
done so in the past, the Administration Committee may retain a consultant to
assist the Committee in a search for a qualified candidate.
Communications from shareholders
Shareholders may communicate with the members of the Board as a group or
individually. Any such communication should be sent to the Board or an
individual Trustee c/o the secretary of the fund at the address on the notice of
this meeting. The Secretary may determine not to forward any letter to the
members of the Board that does not relate to the business of the fund.
A-5
-----------------------
Thank
You
for mailing
your proxy
card promptly!
-----------------------
John Hancock(R) John Hancock Funds, LLC
[graphic omitted] MEMBER NASD
WORLDWIDE SPONSOR
101 Huntington Avenue
Boston, MA 02199-7603
1-800-225-5291
1-800-554-6713 TDD
1-800-338-8080 EASI-Line
www.jhfunds.com
Mutual Funds
Institutional Services
Private Managed Accounts
Retirement Plans
JHFPX 10/04
John Hancock
- ------------
JOHN HANCOCK FUNDS
-------------------------------------------------------------------------
THREE EASY WAYS TO VOTE YOUR PROXY
Read the Proxy Statement and have the Proxy card at hand.
TELEPHONE: Call 1-888-221-0697 and follow the simple instructions
INTERNET: Go to www.jhfunds.com/proxy and follow the online instructions
MAIL: Vote, sign, date and return your proxy card by mail
If you vote by Telephone or Internet, do not mail your proxy.
-----------
--------------------------------------------------------------------------
- ------------------
999 999 999 999 99
- ------------------
FUND NAME PRINTS HERE JOINT SPECIAL MEETING OF SHARHOLDERS-DECEMBER 1, 2004
PROXY SOLICITATION BY THE BOARD OF TRUSTEES
The undersigned, revoking previous proxies, hereby appoint(s) Richard A. Brown,
Susan S. Newton and William H. King, with full power of substitution in each, to
vote all the shares of beneficial interest of the above-referenced Fund which
the undersigned is (are) entitled to vote at the Joint Special Meeting of
Shareholders (the "Meeting") to be held at 101 Huntington Avenue, Boston,
Massachusetts, on December 1, 2004 at 9:00 a.m., Eastern time, and at any
adjournment(s) of the Meeting. All powers may be exercised by a majority of all
proxy holders or substitutes voting or acting, or, if only one votes and acts,
then by that one. Receipt of the Proxy Statement dated October 14, 2004 is
hereby acknowledged. If not revoked, this proxy shall be voted for the proposal.
PLEASE SIGN, DATE AND RETURN PROMPTLY
IN THE ENCLOSED ENVELOPE
Date ______________________,2004
----------------------------------------
----------------------------------------
Signature(s) (Sign in the Box)
Note: Signature(s) should agree with the
name(s) printed herein. When signing as
attorney, executor, administrator,
trustee or guardian, please give your
full name as such. If a corporation,
please sign in full corporate name by
president or authorized officer. If a
partnership, please sign in partnership
name by authorized person.
JH 12/2004 lp
Please fill in box as shown using black or blue ink or number 2 pencil.[X}
PLEASE DO NOT USE FINE POINT PENS.
VOTE THIS PROXY CARD TODAY!
YOUR PROMPT RESPONSE WILL SAVE YOUR FUND
THE EXPENSE OF ADDITIONAL MAILINGS
THIS PROXY WILL BE VOTED IN FAVOR OF (FOR) PROPOSAL 1 IF NO SPECIFICATION IS
MADE BELOW. AS TO ANY OTHER MATTER, THE PROXY OR PROXIES WILL VOTE IN ACCORDANCE
WITH THEIR BEST JUDGEMENT.
1. To elect the following nominees to serve as Trustees of the Funds.
(1) James F. Carlin (4) Ronald R. Dion (7) Patti McGill Peterson FOR ALL WITHHOLD FOR ALL
(2) Richard P. Chapman Jr.(5) Charles L. Ladner (8) Steven R. Pruchansky NOMINEES FROM ALL EXCEPT*
(3) William H. Cunningham (6) John A. Moore (9) James A. Shepherdson NOMINEES
[ ] [ ] [ ]
- ----------------------------------------------------------------------------
*(To withhold authority to vote for any nominee, mark "For All Except" and write
that nominee's number on the line above.)
PLEASE BE SURE TO DATE AND SIGN THE PROXY CARD IN THE SPACES PROVIDED ON THE
REVERSE SIDE
JH 12/2004 lp
================================================================================
John Hancock EZVOTE Consolidated Proxy Card
- -----------
JOHN HANCOCK FUNDS This form is your EzVote Consolidated Proxy. It reflects all
of your accounts registered to the same Social Security or
Tax I.D. number at this address. By voting and signing the
Consolidated Proxy Card, you are voting all of these
accounts in the same manner as indicated on the reverse side
of the form.
- ------------------
999 999 999 999 99
- ------------------
PROXY FOR THE JOINT SPECIAL MEETING OF SHAREHOLDERS - DECEMBER 1, 2004
The undersigned, revoking previous proxies, hereby appoint(s) Richard A. Brown,
Susan S. Newton and William H. King, with full power of substitution in each, to
vote all the shares of beneficial interest which the undersigned is (are)
entitled to vote at the Joint Special Meeting of Shareholders (the "Meeting") to
be held at 101 Huntington Avenue, Boston, Massachusetts, on December 1, 2004 at
9:00 a.m., Eastern time, and at any adjournment(s) of the Meeting. All powers
may be exercised by a majority of all proxy holders or substitutes voting or
acting, or, if only one votes and acts, then by that one. Receipt of the Proxy
Statement dated October 14, 2004 is hereby acknowledged. If not revoked, this
proxy shall be voted for the proposal.
PLEASE SIGN, DATE AND RETURN
PROMPTLY IN ENCLOSED ENVELOPE
Date __________________, 2004
--------------------------------
--------------------------------
Signature(s) (Sign in the Box)
NOTE: Signature(s) should agree
with the name(s) printed herein.
When signing as attorney,
executor, administrator, trustee
or guardian, please give your
full name as such. If a
corporation, please sign in full
corporate name by president or
other authorized officer. If a
partnership, please sign in
partnership name by authorized
person.
JH 2004 EZ lp
==============DETACH CONSOLIDATED PROXY CARD AT PERFORATION BELOW===============
- --------------------------------------
VOTE ON THE INTERNET [Computer Graphic]
o Log on to:
www.jhfunds.com/proxy
o Follow the on-screen instructions.
- --------------------------------------
- --------------------------------------
VOTE BY PHONE [Phone Graphic]
o Dial 1-888-221-0697 (TOLL FREE)
o Follow the recorded instructions.
- --------------------------------------
- --------------------------------------
VOTE BY MAIL [Mail Graphic]
o Vote, signand date the EZVote
o Detach the upper portion of the
card and return in the postage-paid
envelope provided.
- --------------------------------------
NOTE: If you vote by phone or Internet, do not return your Consolidated Proxy
Card. Keep it for your files.
INDIVIDUAL BALLOTS
On the reverse side of this form (and on accompanying pages,
if necessary) you will find individual ballots, one for each
of your accounts. If you would wish to vote each of these
accounts separately, sign in the signature box below, mark
each individual ballot to indicate your vote, detach the
form at the perforation above and return the individual
ballots portion only.
NOTE: If you elect to vote each account separately, do not
return the Consolidated Proxy Card above.
SIGN BELOW ONLY IF YOU ARE VOTING
EACH ACCOUNT SEPARATELY
Date __________________, 2004
------------------------------------------------------------
------------------------------------------------------------
Signature(s) (Please sign in box)
NOTE: Signature(s) should agree with the name(s) printed
herein. When signing as attorney, executor, administrator,
trustee or guardian, please give your full name as such. If
a corporation, please sign in full corporate name by
president or other authorized officer. If a partnership,
please sign in partnership name by authorized person.
JH 2004 EZ IND lp
================================================================================
EZVOTE Consolidated Proxy Card
Please fill in box as shown using black or blue ink or number 2 pencil. [X]
PLEASE DO NOT USE FINE POINT PENS.
THIS PROXY WILL BE VOTED IN FAVOR OF (FOR) PROPOSAL 1 IF NO SPECIFICATION IS
MADE BELOW. AS TO ANY OTHER MATTER, THE PROXY OR PROXIES WILL VOTE IN ACCORDANCE
WITH THEIR BEST JUDGEMENT.
1. To elect the following nominees to serve as Trustees of the Funds.
(1) James F. Carlin (4) Ronald R. Dion (7) Patti McGill Peterson FOR ALL WITHHOLD FOR ALL
(2) Richard P. Chapman Jr.(5) Charles L. Ladner (8) Steven R. Pruchansky NOMINEES FROM ALL EXCEPT*
(3) William H. Cunningham (6) John A. Moore (9) James A. Shepherdson NOMINEES
[ ] [ ] [ ]
- ----------------------------------------------------------------------------
*(To withhold authority to vote for any nominee, mark "For All Except" and write
that nominee's number on the line above.)
PLEASE BE SURE TO DATE AND SIGN THE PROXY CARD IN THE SPACES PROVIDED ON THE
REVERSE SIDE
JH 2004 EZ lp
==============DETACH CONSOLIDATED PROXY CARD AT PERFORATION BELOW===============
INDIVIDUAL BALLOTS
NOTE: IF YOU HAVE USED THE CONSOLIDATED BALLOT ABOVE, DO NOT VOTE THE INDIVIDUAL
BALLOTS BELOW.
- --------------------------------------------------------------------------------
999 999 999 999 99
FUND NAME PRINTS HERE
FOR ALL WITHHOLD FOR ALL
NOMINEES FROM ALL EXCEPT*
NOMINEES
1. ELECTION OF TRUSTEES [ ] [ ] [ ]
(See Nominee list on consolidated ballot.)
* EXCEPT _______________________________________
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
999 999 999 999 99
FUND NAME PRINTS HERE
FOR ALL WITHHOLD FOR ALL
NOMINEES FROM ALL EXCEPT*
NOMINEES
1. ELECTION OF TRUSTEES [ ] [ ] [ ]
(See Nominee list on consolidated ballot.)
* EXCEPT _______________________________________
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
999 999 999 999 99
FUND NAME PRINTS HERE
FOR ALL WITHHOLD FOR ALL
NOMINEES FROM ALL EXCEPT*
NOMINEES
1. ELECTION OF TRUSTEES [ ] [ ] [ ]
(See Nominee list on consolidated ballot.)
* EXCEPT _______________________________________
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
999 999 999 999 99
FUND NAME PRINTS HERE
FOR ALL WITHHOLD FOR ALL
NOMINEES FROM ALL EXCEPT*
NOMINEES
1. ELECTION OF TRUSTEES [ ] [ ] [ ]
(See Nominee list on consolidated ballot.)
* EXCEPT _______________________________________
- --------------------------------------------------------------------------------
JH 2004 EZ IND lp
Internet Proxy Voting Service
Proxy Voting Form
John Hancock Funds
John Hancock ____________ Fund
THE BOARD OF TRUSTEES RECOMMENDS A VOTE "FOR" THE FOLLOWING PROPOSAL.
Proposal 1. To elect the following nominees to serve as Trustees of the Funds.
[ ]FOR all nominees [ ]WITHHOLD AUTHORITY to vote for all nominees
[ ]FOR all nominees (Except as indicated)
(01) [ ]James F. Carlin
(02) [ ]Richard P. Chapman Jr.
(03) [ ]William H. Cunningham
(04) [ ]Ronald R. Dion
(05) [ ]Charles L. Ladner
(06) [ ]John A. Moore
(07) [ ]Patti McGill Peterson
(08) [ ]Steven R. Pruchansky
(09) [ ]James A. Shepherdson
- --------------------------------------------------------------------------------
Please refer to the proxy statement for discussion of this matter.
If no specification is made, the proposal will be voted "For".
- --------------------------------------------------------------------------------
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will be considered valid.
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