UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-21779
JOHN HANCOCK FUNDS II
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(Exact name of registrant as specified in charter)
200 BERKELEY STREET, BOSTON, MA 02116
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(Address of principal executive offices) (Zip code)
SALVATORE SCHIAVONE, 200 Berkeley Street, BOSTON, MA 02116
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(Name and address of agent for service)
Registrant's telephone number, including area code: (617) 543-9634
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Date of fiscal year end: August 31
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Date of reporting period: August 31, 2023
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ITEM 1. REPORTS TO STOCKHOLDERS.
The Registrant prepared the following annual report to shareholders for the period ended August 31, 2023:
Floating Rate Income Fund
United States and Europe
Manulife Investment Management
John Hancock Investment Management
ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 1 |
2 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 3 |
4 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT |
COUNTRY COMPOSITION AS OF 8/31/2023 (% of net assets) | |
United States | 82.9 |
Luxembourg | 4.8 |
Cayman Islands | 3.1 |
United Kingdom | 2.6 |
Canada | 2.0 |
Netherlands | 1.2 |
Germany | 1.0 |
Other countries | 2.4 |
TOTAL | 100.0 |
ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 5 |
6 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT |
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | SEC 30-day yield (%) subsidized | SEC 30-day yield (%) unsubsidized† | |||||
1-year | 5-year | 10-year | 5-year | 10-year | as of 8-31-23 | as of 8-31-23 | ||
Class A | 5.79 | 2.97 | 2.77 | 15.76 | 31.48 | 8.64 | 8.45 | |
Class C | 6.72 | 2.71 | 2.30 | 14.31 | 25.48 | 8.11 | 7.91 | |
Class I1 | 8.77 | 3.71 | 3.31 | 19.99 | 38.47 | 9.07 | 8.89 | |
Class R61 | 8.89 | 3.85 | 3.41 | 20.81 | 39.84 | 9.22 | 9.04 | |
Class 11 | 8.85 | 3.81 | 3.39 | 20.57 | 39.59 | 9.18 | 8.99 | |
Class NAV1 | 8.89 | 3.83 | 3.43 | 20.68 | 40.10 | 9.22 | 9.04 | |
Index†† | 9.37 | 4.40 | 4.22 | 24.05 | 51.23 | — | — |
Class A | Class C | Class I | Class R6 | Class 1 | Class NAV | |
Gross (%) | 1.11 | 1.86 | 0.86 | 0.75 | 0.79 | 0.74 |
Net (%) | 1.02 | 1.77 | 0.79 | 0.68 | 0.72 | 0.68 |
ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 7 |
Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class C2 | 8-31-13 | 12,548 | 12,548 | 15,123 |
Class I1 | 8-31-13 | 13,847 | 13,847 | 15,123 |
Class R61 | 8-31-13 | 13,984 | 13,984 | 15,123 |
Class 11 | 8-31-13 | 13,959 | 13,959 | 15,123 |
Class NAV1 | 8-31-13 | 14,010 | 14,010 | 15,123 |
1 | For certain types of investors, as described in the fund’s prospectuses. |
2 | The contingent deferred sales charge is not applicable. |
8 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 9 |
Account value on 3-1-2023 | Ending value on 8-31-2023 | Expenses paid during period ended 8-31-20231 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,060.00 | $5.19 | 1.00% |
Hypothetical example | 1,000.00 | 1,020.20 | 5.09 | 1.00% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,056.00 | 9.07 | 1.75% |
Hypothetical example | 1,000.00 | 1,016.40 | 8.89 | 1.75% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,061.20 | 4.00 | 0.77% |
Hypothetical example | 1,000.00 | 1,021.30 | 3.92 | 0.77% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,061.80 | 3.43 | 0.66% |
Hypothetical example | 1,000.00 | 1,021.90 | 3.36 | 0.66% | |
Class 1 | Actual expenses/actual returns | 1,000.00 | 1,061.60 | 3.64 | 0.70% |
Hypothetical example | 1,000.00 | 1,021.70 | 3.57 | 0.70% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 1,061.80 | 3.43 | 0.66% |
Hypothetical example | 1,000.00 | 1,021.90 | 3.36 | 0.66% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). |
10 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT |
Rate (%) | Maturity date | Par value^ | Value | ||
Term loans (A) 81.8% | $806,459,041 | ||||
(Cost $840,729,288) | |||||
Communication services 7.2% | 71,053,471 | ||||
Diversified telecommunication services 1.9% | |||||
Connect Finco SARL, 2021 Term Loan B (1 month SOFR + 3.500%) | 8.831 | 12-11-26 | 1,584,540 | 1,579,342 | |
Cyxtera DC Holdings, Inc., 2023 DIP Term Loan (1 month SOFR + 8.500%) | 13.931 | 12-07-23 | 2,429,332 | 2,430,352 | |
Cyxtera DC Holdings, Inc., Incremental Term Loan (B) | 0.000 | 05-01-24 | 1,102,564 | 556,795 | |
Cyxtera DC Holdings, Inc., Term Loan B (B) | 0.000 | 05-01-24 | 7,109,466 | 4,251,460 | |
Frontier Communications Holdings LLC, 2021 1st Lien Term Loan (1 month SOFR + 3.750%) | 9.196 | 10-08-27 | 1,969,679 | 1,912,223 | |
Level 3 Financing, Inc., 2019 Term Loan B (1 month SOFR + 1.750%) | 7.196 | 03-01-27 | 1,240,847 | 1,174,350 | |
Voyage Digital, USD Term Loan B (3 month SOFR + 4.250%) | 9.630 | 05-11-29 | 3,992,853 | 3,985,386 | |
Zacapa SARL, 2022 Term Loan (3 month SOFR + 4.000%) | 9.242 | 03-22-29 | 2,895,392 | 2,882,276 | |
Entertainment 0.1% | |||||
Technicolor Creative Studios SA, 2023 EUR Non-Convertible Subordinated Term Loan (3 month EURIBOR + 5.000%) (C) | 8.476 | 06-05-30 | EUR | 729,001 | 0 |
Technicolor Creative Studios SA, EUR Term Loan (6 month EURIBOR + 0.500%) | 4.294 | 09-15-26 | EUR | 1,804,717 | 1,068,982 |
Interactive media and services 1.3% | |||||
Arches Buyer, Inc., 2021 Term Loan B (1 month SOFR + 3.250%) | 8.681 | 12-06-27 | 4,785,048 | 4,646,713 | |
Knot Worldwide, Inc., 2022 Term Loan (1 and 6 month SOFR + 4.500%) | 9.826 | 12-19-25 | 3,273,524 | 3,265,340 | |
MH Sub I LLC, 2017 1st Lien Term Loan (1 month SOFR + 3.750%) | 9.196 | 09-13-24 | 80,808 | 80,778 | |
MH Sub I LLC, 2020 Incremental Term Loan (1 month SOFR + 3.750%) | 9.196 | 09-13-24 | 183,804 | 183,727 | |
MH Sub I LLC, 2023 Term Loan (1 month SOFR + 4.250%) | 9.581 | 05-03-28 | 4,950,000 | 4,753,089 | |
Media 3.4% | |||||
Altice France SA, 2023 USD Term Loan B14 (3 month SOFR + 5.500%) | 10.808 | 08-15-28 | 1,554,669 | 1,357,428 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 11 |
Rate (%) | Maturity date | Par value^ | Value | ||
Communication services (continued) | |||||
Media (continued) | |||||
CMI Marketing, Inc., 2021 First Lien Term Loan B (1 month SOFR + 4.250%) | 9.696 | 03-23-28 | 3,508,868 | $3,368,514 | |
CSC Holdings LLC, 2022 Term Loan B6 (1 month SOFR + 4.500%) | 9.810 | 01-18-28 | 2,357,986 | 2,220,445 | |
Digital Media Solutions LLC, Term Loan B (3 month LIBOR + 5.000%) | 10.538 | 05-25-26 | 2,492,755 | 1,875,798 | |
Hunter US Bidco, Inc., USD Term Loan B (3 month SOFR + 4.250%) | 9.592 | 08-19-28 | 3,878,501 | 3,871,325 | |
Oceankey US II Corp., 2021 Term Loan (1 month SOFR + 3.500%) | 8.931 | 12-15-28 | 1,776,303 | 1,707,471 | |
Radiate Holdco LLC, 2021 Term Loan B (1 month SOFR + 3.250%) | 8.696 | 09-25-26 | 2,014,073 | 1,644,954 | |
Recorded Books, Inc., 2021 Term Loan (1 month SOFR + 4.000%) | 9.331 | 08-29-25 | 2,724,969 | 2,724,396 | |
Research Now Group LLC, 2017 1st Lien Term Loan (3 month SOFR + 5.500%) | 10.933 | 12-20-24 | 6,250,010 | 4,404,507 | |
Research Now Group LLC , 2017 2nd Lien Term Loan (3 month SOFR + 9.500%) | 14.933 | 12-20-25 | 629,484 | 314,742 | |
Titan US Finco LLC, 2021 USD Term Loan (3 month LIBOR + 4.000%) | 9.538 | 10-18-28 | 2,429,769 | 2,375,099 | |
United Talent Agency LLC, Term Loan B (1 month SOFR + 3.500%) | 9.446 | 07-07-28 | 3,340,482 | 3,290,375 | |
Virgin Media Bristol LLC, 2020 USD Term Loan Q (1 month SOFR + 3.250%) | 8.675 | 01-31-29 | 4,046,999 | 3,996,411 | |
Wireless telecommunication services 0.5% | |||||
Crown Subsea Communications Holding, Inc., 2021 Term Loan (1 month SOFR + 5.000%) | 10.433 | 04-27-27 | 3,445,647 | 3,448,886 | |
Crown Subsea Communications Holding, Inc., 2023 Incremental Term Loan (1 month SOFR + 5.250%) | 10.683 | 04-27-27 | 1,679,503 | 1,682,307 | |
Consumer discretionary 13.1% | 129,187,790 | ||||
Automobile components 0.4% | |||||
IXS Holdings, Inc., 2020 Term Loan B (3 month SOFR + 4.250%) | 9.638 | 03-05-27 | 4,955,348 | 4,304,067 | |
Automobiles 1.1% | |||||
Constellation Automotive, Ltd., EUR Term Loan B (6 month EURIBOR + 4.000%) | 7.781 | 07-28-28 | EUR | 2,016,153 | 2,034,166 |
Constellation Automotive, Ltd., GBP 2nd Lien Term Loan B (6 month SONIA + 7.500%) | 12.684 | 07-27-29 | GBP | 842,559 | 721,200 |
12 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Consumer discretionary (continued) | |||||
Automobiles (continued) | |||||
OEConnection LLC, 2019 Term Loan B (1 month SOFR + 4.000%) | 9.428 | 09-25-26 | 4,665,545 | $4,639,885 | |
Wheel Pros, Inc., 2021 Term Loan (3 month LIBOR + 4.500%) | 10.107 | 05-11-28 | 5,683,716 | 3,753,413 | |
Distributors 0.2% | |||||
Northwest Fiber LLC, 2021 Term Loan (1 month SOFR + 3.750%) | 9.180 | 04-30-27 | 2,228,380 | 2,160,593 | |
Diversified consumer services 2.1% | |||||
Foundational Education Group, Inc., 1st Lien Term Loan (3 month SOFR + 4.250%) | 9.881 | 08-31-28 | 3,916,744 | 3,613,197 | |
Fugue Finance LLC, 2023 USD Term Loan B (3 month SOFR + 4.500%) | 9.922 | 01-31-28 | 1,024,987 | 1,025,418 | |
Learning Care Group US No. 2, Inc., 2023 Term Loan (3 month SOFR + 4.750%) | 10.130 | 08-11-28 | 654,352 | 652,991 | |
Markermeer Finance BV, 2020 EUR Term Loan B (6 month EURIBOR + 3.000%) | 6.663 | 01-29-27 | EUR | 1,715,255 | 1,789,037 |
OMNIA Partners LLC, Term Loan B (3 month SOFR + 4.250%) | 9.601 | 07-25-30 | 1,086,090 | 1,088,132 | |
PCI Gaming Authority, Term Loan (1 month SOFR + 2.500%) | 7.946 | 05-29-26 | 2,894,228 | 2,893,707 | |
Prometric Holdings, Inc., 1st Lien Term Loan (3 month SOFR + 3.000%) | 8.684 | 01-29-25 | 3,025,545 | 2,900,741 | |
Safe Fleet Holdings LLC, 2022 Term Loan (1 month SOFR + 3.750%) | 9.168 | 02-23-29 | 2,689,637 | 2,689,637 | |
Whatabrands LLC, 2021 Term Loan B (1 month SOFR + 3.250%) | 8.696 | 08-03-28 | 4,080,483 | 4,075,913 | |
Hotels, restaurants and leisure 4.2% | |||||
Aimbridge Acquisition Company, Inc., 2019 Term Loan B (1 month SOFR + 3.750%) | 9.196 | 02-02-26 | 6,416,786 | 6,095,946 | |
Bally’s Corp., 2021 Term Loan B (3 month SOFR + 3.250%) | 9.099 | 10-02-28 | 3,865,335 | 3,752,042 | |
Crown Finance US, Inc., 2023 Exit Term Loan (3 month SOFR + 8.500%) | 14.381 | 07-31-28 | 1,739,453 | 1,748,690 | |
Global Business Travel Holdings, Ltd., 2018 Term Loan B (3 month LIBOR + 2.500%) | 8.231 | 08-13-25 | 4,130,241 | 3,990,846 | |
Great Canadian Gaming Corp., 2021 Term Loan (3 month LIBOR + 4.000%) | 9.520 | 11-01-26 | 2,369,018 | 2,374,206 | |
Hurtigruten Group AS, EUR Term Loan B (6 month EURIBOR + 6.500%) | 10.451 | 02-28-27 | EUR | 2,124,041 | 1,870,202 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 13 |
Rate (%) | Maturity date | Par value^ | Value | ||
Consumer discretionary (continued) | |||||
Hotels, restaurants and leisure (continued) | |||||
IRB Holding Corp., 2022 Term Loan B (1 month SOFR + 3.000%) | 8.431 | 12-15-27 | 5,878,504 | $5,842,351 | |
Lakeland Holdings LLC, 2020 HoldCo Term Loan (0.000 Cash or 13.250% PIK) | 0.000 | 09-25-27 | 526,728 | 402,947 | |
New Red Finance, Inc., Term Loan B4 (1 month LIBOR + 1.750%) | 7.196 | 11-19-26 | 3,221,711 | 3,199,352 | |
Ontario Gaming GTA LP, Term Loan B (3 month SOFR + 4.250%) | 9.622 | 08-01-30 | 790,562 | 792,048 | |
Playa Resorts Holding BV, 2022 Term Loan B (1 month SOFR + 4.250%) | 9.564 | 01-05-29 | 5,606,394 | 5,598,769 | |
Scientific Games International, Inc., 2022 USD Term Loan (1 month SOFR + 3.000%) | 8.412 | 04-14-29 | 3,471,296 | 3,467,582 | |
Vue International Holdco, Ltd., 2023 EUR PIK Term Loan (6 month EURIBOR + 2.000% or 6.000% PIK) | 5.680 | 12-31-27 | EUR | 3,473,889 | 1,878,748 |
Household durables 0.6% | |||||
ACProducts Holdings, Inc., 2021 Term Loan B (3 month SOFR + 4.250%) | 9.753 | 05-17-28 | 2,794,633 | 2,385,918 | |
Keter Group BV, EUR Term Loan B (3 month EURIBOR + 4.250%) | 7.964 | 10-31-23 | EUR | 1,724,167 | 1,726,259 |
Keter Group BV, EUR Term Loan B3A (2 month EURIBOR + 4.250%) | 7.888 | 10-31-23 | EUR | 94,996 | 95,111 |
Nobel Bidco BV, EUR Term Loan B (6 month EURIBOR + 3.500%) | 7.270 | 09-01-28 | EUR | 1,281,634 | 1,312,610 |
Leisure products 1.3% | |||||
ABG Intermediate Holdings 2 LLC, 2021 Term Loan B1 (1 month SOFR + 3.500%) | 8.931 | 12-21-28 | 5,341,803 | 5,338,491 | |
J&J Ventures Gaming LLC, 2023 Incremental Term Loan B (D) | TBD | 04-26-28 | 1,021,419 | 985,669 | |
J&J Ventures Gaming LLC, 2023 Nevada Delayed Draw Term Loan (D) | TBD | 04-15-30 | 1,838,554 | 1,774,204 | |
PlayPower, Inc., 2019 Term Loan (3 month SOFR + 5.500%) | 10.918 | 05-08-26 | 3,471,768 | 2,721,866 | |
Recess Holdings, Inc., 2023 Term Loan (3 month SOFR + 4.000%) | 9.383 | 03-17-27 | 1,588,826 | 1,584,854 | |
Specialty retail 2.7% | |||||
Eyemart Express LLC, 2021 Term Loan (1 month SOFR + 3.000%) | 8.430 | 08-31-27 | 4,188,506 | 3,905,782 | |
Mavis Tire Express Services Topco Corp., 2021 Term Loan B (1 month SOFR + 4.000%) | 9.446 | 05-04-28 | 4,719,675 | 4,700,797 |
14 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Consumer discretionary (continued) | |||||
Specialty retail (continued) | |||||
Petco Health & Wellness Company, Inc., 2021 Term Loan B (3 month SOFR + 3.250%) | 8.753 | 03-03-28 | 3,148,286 | $3,127,444 | |
Runner Buyer, Inc., 2021 Term Loan B (3 month SOFR + 5.500%) | 10.945 | 10-20-28 | 3,246,821 | 2,463,525 | |
Specialty Building Products Holdings LLC, 2021 Term Loan B (1 month SOFR + 3.250%) | 9.181 | 10-15-28 | 2,569,812 | 2,521,628 | |
SRS Distribution, Inc., 2021 Term Loan B (1 month SOFR + 3.500%) | 8.946 | 06-02-28 | 4,904,797 | 4,834,315 | |
SRS Distribution, Inc., 2022 Incremental Term Loan (1 month SOFR + 3.500%) | 8.931 | 06-02-28 | 466,385 | 459,973 | |
Staples, Inc., 7 Year Term Loan (3 month LIBOR + 5.000%) | 10.634 | 04-16-26 | 1,287,397 | 1,101,728 | |
The Michaels Companies, Inc., 2021 Term Loan B (3 month SOFR + 4.250%) | 9.753 | 04-15-28 | 3,716,415 | 3,438,947 | |
Textiles, apparel and luxury goods 0.5% | |||||
New Trojan Parent, Inc., 1st Lien Term Loan (1 month SOFR + 3.250%) | 8.680 | 01-06-28 | 4,905,725 | 2,642,959 | |
Tory Burch LLC, Term Loan B (1 month SOFR + 3.250%) | 8.570 | 04-16-28 | 2,748,110 | 2,709,884 | |
Consumer staples 2.6% | 25,335,779 | ||||
Consumer staples distribution and retail 0.9% | |||||
8th Avenue Food & Provisions, Inc., 2018 1st Lien Term Loan (1 month SOFR + 3.750%) | 9.196 | 10-01-25 | 3,291,637 | 3,134,461 | |
H-Food Holdings LLC, 2018 Term Loan B (3 month LIBOR + 3.688%) | 9.372 | 05-23-25 | 6,291,684 | 5,680,635 | |
Food products 0.6% | |||||
Upfield BV, 2023 EUR Term Loan B (6 month EURIBOR + 3.500%) | 7.413 | 01-02-28 | EUR | 1,986,347 | 2,101,729 |
Upfield BV, 2023 GBP Term Loan B (SONIA + 4.000%) | 8.968 | 01-31-28 | GBP | 1,634,280 | 2,003,766 |
Upfield USA Corp., 2023 USD Term Loan B (6 month SOFR + 3.000%) | 8.210 | 01-31-28 | 1,517,532 | 1,479,594 | |
Household products 0.3% | |||||
Kronos Acquisition Holdings, Inc., 2021 Term Loan B (3 month LIBOR + 3.750%) | 9.253 | 12-22-26 | 2,723,372 | 2,685,544 | |
Personal care products 0.8% | |||||
Rainbow UK Bidco, Ltd., GBP Term Loan B (6 month SONIA + 5.000%) | 10.184 | 02-24-29 | GBP | 2,501,356 | 2,981,223 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 15 |
Rate (%) | Maturity date | Par value^ | Value | ||
Consumer staples (continued) | |||||
Personal care products (continued) | |||||
Sunshine Luxembourg VII Sarl, 2021 Term Loan B3 (3 month SOFR + 3.750%) | 9.092 | 10-01-26 | 5,265,878 | $5,268,827 | |
Energy 0.9% | 9,055,614 | ||||
Oil, gas and consumable fuels 0.9% | |||||
EG Finco, Ltd., 2018 EUR Term Loan B1 (D) | TBD | 02-07-25 | EUR | 2,822,315 | 3,055,666 |
Northriver Midstream Finance LP, 2023 USD Term Loan B (3 month SOFR + 3.000%) | 8.327 | 08-16-30 | 2,820,088 | 2,813,038 | |
Oryx Midstream Services Permian Basin LLC, 2023 Incremental Term Loan (1 month SOFR + 3.250%) | 8.682 | 10-05-28 | 3,190,005 | 3,186,910 | |
Quicksilver Resources, Inc., New 2nd Lien Term Loan (B)(C) | 0.000 | 06-21-22 | 19,606,608 | 0 | |
Financials 7.5% | 73,633,031 | ||||
Capital markets 2.1% | |||||
Aretec Group, Inc., 2018 Term Loan (1 month SOFR + 4.250%) | 9.681 | 10-01-25 | 2,368,162 | 2,372,354 | |
Aretec Group, Inc., 2023 Incremental Term Loan (D) | TBD | 08-09-30 | 546,115 | 544,580 | |
Hightower Holding LLC, 2021 Term Loan B (3 month SOFR + 4.000%) | 9.351 | 04-21-28 | 4,721,552 | 4,654,648 | |
Jane Street Group LLC, 2021 Term Loan (1 month SOFR + 2.750%) | 8.196 | 01-26-28 | 4,075,960 | 4,065,770 | |
Jump Financial LLC, Term Loan B (3 month SOFR + 4.500%) | 10.004 | 08-07-28 | 4,866,348 | 4,647,362 | |
LSF11 Trinity Bidco, Inc., Term Loan (1 month SOFR + 4.500%) | 9.813 | 06-14-30 | 2,054,620 | 2,054,620 | |
Mariner Wealth Advisors LLC, Term Loan B (D) | TBD | 08-18-28 | 2,436,000 | 2,378,145 | |
Financial services 2.6% | |||||
Advisor Group, Inc., 2023 Term Loan B (3 month SOFR + 4.500%) | 9.872 | 08-17-28 | 4,722,215 | 4,713,951 | |
Ascensus Holdings, Inc., Term Loan (1 month SOFR + 3.500%) | 8.946 | 08-02-28 | 4,838,775 | 4,775,291 | |
CTC Holdings LP, Term Loan B (3 month SOFR + 5.000%) | 10.344 | 02-20-29 | 2,467,794 | 2,412,269 | |
DRW Holdings LLC, 2021 Term Loan (1 month SOFR + 3.750%) | 9.196 | 03-01-28 | 2,905,929 | 2,898,664 | |
Hudson River Trading LLC, 2021 Term Loan (3 month SOFR + 3.000%) | 8.631 | 03-20-28 | 3,912,427 | 3,853,741 | |
Kestra Advisor Services Holdings A, Inc., 2019 Term Loan (3 month SOFR + 4.250%) | 9.592 | 06-03-26 | 1,767,506 | 1,763,088 |
16 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Financials (continued) | |||||
Financial services (continued) | |||||
Mermaid Bidco, Inc., 2021 USD Term Loan (3 month SOFR + 4.500%) | 9.776 | 12-22-27 | 2,935,086 | $2,935,086 | |
WEX, Inc., 2021 Term Loan (1 month SOFR + 2.250%) | 7.696 | 03-31-28 | 2,247,995 | 2,250,490 | |
Insurance 1.7% | |||||
Acrisure LLC, 2020 Term Loan B (1 month LIBOR + 3.500%) | 8.946 | 02-15-27 | 1,007,184 | 986,144 | |
Acrisure LLC, 2021 First Lien Term Loan B (1 month LIBOR + 4.250%) | 9.696 | 02-15-27 | 2,413,155 | 2,401,089 | |
AssuredPartners, Inc., 2022 Term Loan B4 (D) | TBD | 02-12-27 | 2,369,033 | 2,372,989 | |
Asurion LLC, 2022 Term Loan B10 (1 month SOFR + 4.000%) | 9.431 | 08-19-28 | 4,764,752 | 4,580,785 | |
Asurion LLC, 2023 Term Loan B11 (1 month SOFR + 4.250%) | 9.681 | 08-19-28 | 1,236,303 | 1,192,451 | |
Baldwin Risk Partners LLC, 2021 Term Loan B (1 month SOFR + 3.500%) | 8.914 | 10-14-27 | 4,426,175 | 4,394,837 | |
Jones Deslauriers Insurance Management, Inc., 2023 Term Loan B (D) | TBD | 03-15-30 | 726,611 | 727,069 | |
Mortgage real estate investment trusts 1.1% | |||||
Apollo Commercial Real Estate Finance, Inc., 2021 Incremental Term Loan B1 (1 month SOFR + 3.500%) | 8.946 | 03-11-28 | 927,930 | 862,975 | |
Apollo Commercial Real Estate Finance, Inc., Term Loan B (1 month SOFR + 2.750%) | 8.196 | 05-15-26 | 515,662 | 482,144 | |
Blackstone Mortgage Trust, Inc., 2021 Term Loan B2 (1 month SOFR + 2.750%) | 8.196 | 04-23-26 | 1,999,885 | 1,959,888 | |
Claros Mortgage Trust, Inc., 2021 Term Loan B (1 month SOFR + 4.500%) | 9.914 | 08-09-26 | 5,321,447 | 5,055,375 | |
KREF Holdings X LLC, 2021 Term Loan (1 month SOFR + 3.500%) | 8.927 | 09-01-27 | 2,350,104 | 2,297,226 | |
Health care 10.0% | 98,908,669 | ||||
Biotechnology 0.3% | |||||
Grifols Worldwide Operations USA, Inc., USD 2019 Term Loan B (1 month SOFR + 2.000%) | 7.481 | 11-15-27 | 3,091,371 | 3,050,410 | |
Health care equipment and supplies 0.9% | |||||
Auris Luxembourg III Sarl, 2019 USD Term Loan B2 (3 and 6 month LIBOR + 3.750%) | 9.122 | 02-27-26 | 4,585,245 | 4,413,298 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 17 |
Rate (%) | Maturity date | Par value^ | Value | ||
Health care (continued) | |||||
Health care equipment and supplies (continued) | |||||
Medline Borrower LP, USD Term Loan B (1 month SOFR + 3.250%) | 8.696 | 10-23-28 | 4,922,268 | $4,916,607 | |
Health care providers and services 4.9% | |||||
AHP Health Partners, Inc., 2021 Term Loan B (1 month SOFR + 3.500%) | 8.946 | 08-24-28 | 2,996,965 | 2,998,463 | |
Ensemble RCM LLC, Term Loan (3 month SOFR + 3.750%) | 9.219 | 08-03-26 | 4,439,610 | 4,442,007 | |
eResearchTechnology, Inc., 2020 1st Lien Term Loan (1 month SOFR + 4.500%) | 9.946 | 02-04-27 | 5,429,964 | 5,307,790 | |
Genesis Specialist Care Finance UK, Ltd., 2023 Superpriority DIP New Money Delayed Draw Term Loan (1 month SOFR + 1.500%) (C) | 6.814 | 06-04-24 | 345,521 | 345,521 | |
Genesis Specialist Care Finance UK, Ltd., 2023 Superpriority DIP New Money Term Loan (1 month SOFR + 1.500% or 0.000% PIK) (C) | 6.932 | 06-04-24 | 770,385 | 770,385 | |
Genesiscare USA Holdings, Inc., 2020 EUR Term Loan B4 (1 month EURIBOR + 4.750%) | 8.370 | 05-14-27 | EUR | 1,782,202 | 230,706 |
Genesiscare USA Holdings, Inc., 2020 USD Term Loan B5 (6 month LIBOR + 5.000%) | 10.896 | 05-14-27 | 3,403,256 | 398,657 | |
GHX Ultimate Parent Corp., 2023 Term Loan (3 month SOFR + 4.750%) | 10.117 | 06-30-27 | 3,520,000 | 3,513,418 | |
MED ParentCo LP, 1st Lien Term Loan (1 month SOFR + 4.250%) | 9.696 | 08-31-26 | 2,914,318 | 2,781,542 | |
National Mentor Holdings, Inc., 2021 2nd Lien Term Loan (3 month SOFR + 7.250%) | 12.592 | 03-02-29 | 2,136,611 | 1,239,235 | |
National Mentor Holdings, Inc., 2021 Term Loan (1 and 3 month SOFR + 3.750%) | 9.163 | 03-02-28 | 7,503,138 | 6,551,215 | |
National Mentor Holdings, Inc., 2021 Term Loan C (3 month SOFR + 3.750%) | 9.092 | 03-02-28 | 215,512 | 188,170 | |
Option Care Health, Inc., 2021 Term Loan B (1 month SOFR + 2.750%) | 8.196 | 10-27-28 | 3,766 | 3,774 | |
PetVet Care Centers LLC, 2018 Incremental Term Loan (1 month SOFR + 3.250%) | 8.681 | 02-14-25 | 619,525 | 613,521 | |
PetVet Care Centers LLC, 2021 Term Loan B3 (1 month SOFR + 3.500%) | 8.931 | 02-14-25 | 1,440,347 | 1,428,652 | |
Phoenix Newco, Inc., 2021 1st Lien Term Loan (1 month SOFR + 3.250%) | 8.696 | 11-15-28 | 5,724,068 | 5,703,347 |
18 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Health care (continued) | |||||
Health care providers and services (continued) | |||||
Radnet Management, Inc., 2021 Term Loan (1 month SOFR + 3.000%) | 8.446 | 04-21-28 | 2,710,767 | $2,713,017 | |
Select Medical Corp., 2023 Term Loan B1 (1 month SOFR + 3.000%) | 8.320 | 03-06-27 | 4,311,885 | 4,311,885 | |
Sharp Services LLC, 2023 Incremental Term Loan B (D) | TBD | 12-31-28 | 1,862,334 | 1,857,679 | |
Upstream Newco, Inc., 2021 Term Loan (3 month SOFR + 4.250%) | 9.753 | 11-20-26 | 1,707,698 | 1,609,506 | |
WCG Purchaser Corp., 2019 Term Loan (1 month SOFR + 4.000%) | 9.320 | 01-08-27 | 1,408,466 | 1,394,029 | |
Life sciences tools and services 0.8% | |||||
Maravai Intermediate Holdings LLC, 2022 Term Loan B (3 month SOFR + 3.000%) | 8.320 | 10-19-27 | 2,766,343 | 2,655,689 | |
Packaging Coordinators Midco, Inc., 2020 1st Lien Term Loan (3 month SOFR + 3.500%) | 9.003 | 11-30-27 | 4,962,149 | 4,934,658 | |
Pharmaceuticals 3.1% | |||||
AI Sirona Luxembourg Acquisition Sarl, 2023 EUR Term Loan B (D) | TBD | 09-29-28 | EUR | 1,051,306 | 1,139,711 |
Amneal Pharmaceuticals LLC, 2018 Term Loan B (1 month SOFR + 3.500%) | 8.946 | 05-04-25 | 5,262,561 | 5,091,528 | |
Curium Bidco Sarl, 2020 USD Term Loan (3 month LIBOR + 4.250%) | 9.895 | 12-02-27 | 3,108,736 | 3,102,923 | |
Curium Bidco Sarl, USD Term Loan B (3 month LIBOR + 4.000%) | 9.538 | 07-09-26 | 2,811,294 | 2,806,037 | |
Endo Luxembourg Finance Company I Sarl, 2021 Term Loan (B) | 0.000 | 03-27-28 | 8,275,136 | 6,040,850 | |
Jazz Financing Lux Sarl, USD Term Loan (1 month SOFR + 3.500%) | 8.946 | 05-05-28 | 2,567,417 | 2,567,417 | |
Organon & Company, USD Term Loan (1 month SOFR + 3.000%) | 8.431 | 06-02-28 | 4,170,557 | 4,174,478 | |
Padagis LLC, Term Loan B (3 month SOFR + 4.750%) | 10.280 | 07-06-28 | 3,120,035 | 3,029,024 | |
Perrigo Investments LLC, Term Loan B (1 month SOFR + 2.250%) | 7.681 | 04-20-29 | 2,599,114 | 2,583,520 | |
Industrials 14.6% | 144,199,816 | ||||
Aerospace and defense 2.2% | |||||
Bleriot US Bidco, Inc., 2023 Term Loan B (3 month SOFR + 4.000%) | 9.593 | 10-31-28 | 137,193 | 137,043 | |
Cobham Ultra SeniorCo Sarl, USD Term Loan B (6 month SOFR + 3.500%) | 9.363 | 08-03-29 | 1,964,637 | 1,949,902 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 19 |
Rate (%) | Maturity date | Par value^ | Value | ||
Industrials (continued) | |||||
Aerospace and defense (continued) | |||||
Novaria Holdings LLC, 2022 Incremental Term Loan (1 month SOFR + 7.000%) | 12.331 | 01-27-27 | 2,310,513 | $2,272,251 | |
Novaria Holdings LLC, Term Loan B (6 month SOFR + 5.500%) | 10.465 | 01-27-27 | 647,772 | 637,044 | |
Standard Aero, Ltd., 2023 Term Loan B2 (3 month SOFR + 4.000%) | 9.315 | 08-24-28 | 1,902,987 | 1,898,724 | |
The NORDAM Group, Inc., Term Loan B (1 month SOFR + 5.600%) | 10.931 | 04-09-26 | 1,986,255 | 1,730,524 | |
TransDigm, Inc., 2023 Term Loan I (3 month SOFR + 3.250%) | 8.492 | 08-24-28 | 4,054,605 | 4,056,429 | |
Vertex Aerospace Services Corp., 2021 First Lien Term Loan (1 month SOFR + 3.500%) | 8.931 | 12-06-28 | 3,616,437 | 3,610,615 | |
WP CPP Holdings LLC, 2018 Term Loan (3 month SOFR + 3.750%) | 9.270 | 04-30-25 | 5,943,834 | 5,583,519 | |
Air freight and logistics 0.3% | |||||
Rand Parent LLC, 2023 Term Loan B (3 month SOFR + 4.250%) | 9.492 | 03-17-30 | 2,813,836 | 2,720,979 | |
Building products 1.9% | |||||
AZZ, Inc., Term Loan B (1 month SOFR + 3.750%) | 9.081 | 05-13-29 | 2,273,043 | 2,276,453 | |
Cornerstone Building Brands, Inc., 2022 Term Loan (1 month SOFR + 5.625%) | 10.936 | 08-01-28 | 1,462,967 | 1,452,610 | |
East West Manufacturing LLC, Term Loan B (3 month SOFR + 5.750%) | 11.119 | 12-22-28 | 1,938,636 | 1,589,682 | |
Icebox Holdco III, Inc., 2021 1st Lien Term Loan (3 month SOFR + 3.750%) | 9.253 | 12-22-28 | 3,426,651 | 3,392,385 | |
Lakeshore Learning Materials LLC, Term Loan (1 month SOFR + 3.500%) | 8.946 | 09-29-28 | 4,057,129 | 4,021,629 | |
Wilsonart LLC, 2021 Term Loan E (3 month LIBOR + 3.500%) | 8.710 | 12-31-26 | 6,333,427 | 6,282,380 | |
Commercial services and supplies 5.0% | |||||
AEA International Holdings Luxembourg Sarl, Term Loan B (3 month SOFR + 3.750%) | 9.253 | 09-07-28 | 3,994,911 | 3,989,917 | |
Anticimex Global AB, 2021 USD Incremental Term Loan (3 month SOFR + 3.650%) | 8.950 | 11-16-28 | 4,337,635 | 4,315,947 | |
AVSC Holding Corp., 2020 Term Loan B2 (1 month SOFR + 5.500% or 1.000% PIK) | 9.931 | 10-15-26 | 5,030,554 | 4,867,061 | |
Cimpress USA, Inc., USD Term Loan B (1 month SOFR + 3.500%) | 8.946 | 05-17-28 | 3,424,994 | 3,378,860 |
20 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Industrials (continued) | |||||
Commercial services and supplies (continued) | |||||
Comet Bidco, Ltd., 2018 USD Term Loan B (1 month LIBOR + 5.000%) | 10.193 | 09-30-27 | 7,032,190 | $6,736,627 | |
Element Materials Technology Group US Holdings, Inc., 2022 USD Delayed Draw Term Loan (3 month SOFR + 4.250%) | 9.592 | 07-06-29 | 2,208,879 | 2,159,180 | |
Element Materials Technology Group US Holdings, Inc., 2022 USD Term Loan (3 month SOFR + 4.250%) | 9.592 | 07-06-29 | 4,785,905 | 4,678,223 | |
New SK Holdco Sub LLC, 2022 PIK Term Loan (1 month SOFR + 6.850% or 1.500% PIK) | 12.164 | 06-30-27 | 6,591,799 | 6,196,291 | |
Tempo Acquisition LLC, 2022 Term Loan B (1 month SOFR + 3.000%) | 8.331 | 08-31-28 | 2,366,556 | 2,369,514 | |
Thevelia US LLC, USD Term Loan B (2 month SOFR + 4.750%) | 9.507 | 06-18-29 | 1,250,675 | 1,250,675 | |
Viad Corp., Initial Term Loan (1 month SOFR + 5.000%) | 10.446 | 07-30-28 | 3,284,743 | 3,190,307 | |
Wand NewCo 3, Inc., 2020 Term Loan (1 month SOFR + 2.750%) | 8.181 | 02-05-26 | 3,898,261 | 3,890,152 | |
Win Waste Innovations Holdings, Inc., 2021 Term Loan B (1 month SOFR + 2.750%) | 8.196 | 03-24-28 | 2,613,740 | 2,247,084 | |
Construction and engineering 1.4% | |||||
Aegion Corp., Term Loan (1 month SOFR + 4.750%) | 10.070 | 05-17-28 | 3,166,211 | 3,135,878 | |
Amentum Government Services Holdings LLC, 2022 Term Loan (1 month SOFR + 4.000%) | 9.314 | 02-15-29 | 1,883,048 | 1,839,117 | |
Amentum Government Services Holdings LLC, Term Loan B (1 month SOFR + 4.000%) | 9.446 | 01-29-27 | 1,710,223 | 1,693,120 | |
DG Investment Intermediate Holdings 2, Inc., 2021 Term Loan (1 month SOFR + 3.750%) | 9.196 | 03-31-28 | 191 | 188 | |
Legence Holdings LLC, 2021 Term Loan (1 month SOFR + 3.750%) | 9.181 | 12-16-27 | 1,200,511 | 1,187,857 | |
TRC Companies, Inc., 2021 1st Lien Term Loan (1 month SOFR + 3.750%) | 9.196 | 12-08-28 | 2,398,860 | 2,376,382 | |
USIC Holdings, Inc., 2021 Term Loan (1 month SOFR + 3.500%) | 8.946 | 05-12-28 | 3,839,292 | 3,739,202 | |
Electrical equipment 0.2% | |||||
Creation Technologies, Inc., 2021 Term Loan (3 month SOFR + 5.500%) | 11.012 | 10-05-28 | 2,578,035 | 2,429,798 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 21 |
Rate (%) | Maturity date | Par value^ | Value | ||
Industrials (continued) | |||||
Ground transportation 0.4% | |||||
Uber Technologies, Inc., 2023 Term Loan B (3 month SOFR + 2.750%) | 8.018 | 03-03-30 | 4,213,802 | $4,218,353 | |
Machinery 2.3% | |||||
Arcline FM Holdings LLC, 2021 1st Lien Term Loan (3 month SOFR + 4.750%) | 10.254 | 06-23-28 | 4,834,609 | 4,769,632 | |
Brown Group Holding LLC, Term Loan B (1 month SOFR + 2.750%) | 7.820 | 06-07-28 | 4,899,854 | 4,838,606 | |
Crosby US Acquisition Corp., Term Loan B (1 month SOFR + 4.750%) | 10.164 | 06-26-26 | 3,527,483 | 3,527,483 | |
Engineered Components & Systems LLC, Term Loan (1 month SOFR + 6.000%) | 11.429 | 08-02-28 | 2,359,570 | 2,330,075 | |
Pro Mach Group, Inc., 2021 Term Loan B (1 month SOFR + 4.000%) | 9.446 | 08-31-28 | 3,733,675 | 3,739,276 | |
Star US Bidco LLC, Term Loan B (1 month SOFR + 4.250%) | 9.681 | 03-17-27 | 3,606,181 | 3,601,673 | |
Passenger airlines 0.2% | |||||
United Airlines, Inc., 2021 Term Loan B (3 month LIBOR + 3.750%) | 9.292 | 04-21-28 | 1,980,613 | 1,983,089 | |
Professional services 0.2% | |||||
Creative Artists Agency LLC, 2023 Term Loan B (1 month SOFR + 3.500%) | 8.831 | 11-27-28 | 1,479,574 | 1,477,724 | |
Transportation infrastructure 0.5% | |||||
Dynasty Acquisition Company, Inc., 2023 Term Loan B1 (D) | TBD | 08-24-28 | 4,440,303 | 4,430,356 | |
Information technology 18.6% | 183,343,551 | ||||
Communications equipment 0.5% | |||||
Venga Finance Sarl, 2021 USD Term Loan B (3 month SOFR + 4.750%) | 10.434 | 06-28-29 | 4,837,305 | 4,770,792 | |
Electronic equipment, instruments and components 0.8% | |||||
C&D Technologies, Inc., Term Loan B (1 month SOFR + 5.750%) | 11.195 | 12-20-25 | 2,581,636 | 2,477,441 | |
Robertshaw US Holding Corp., 2023 PIK First Out New Money Term Loan (3 month SOFR + 3.000% or 5.000% PIK) | 8.342 | 02-28-27 | 1,438,742 | 1,438,742 | |
Robertshaw US Holding Corp., 2023 Second Out Term Loan (3 month SOFR + 7.000%) | 12.342 | 02-28-27 | 4,482,624 | 3,877,470 | |
IT services 2.1% | |||||
EP Purchaser LLC, 2021 Term Loan B (3 month SOFR + 3.500%) | 9.003 | 11-06-28 | 3,141,129 | 3,042,968 | |
Gainwell Acquisition Corp., Term Loan B (3 month SOFR + 4.000%) | 9.342 | 10-01-27 | 6,170,904 | 6,068,714 |
22 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Information technology (continued) | |||||
IT services (continued) | |||||
Genuine Financial Holdings LLC, 2018 1st Lien Term Loan (1 month LIBOR + 3.750%) | 9.196 | 07-11-25 | 4,183,039 | $4,176,932 | |
Sabre GLBL, Inc., 2021 Term Loan B1 (1 month SOFR + 3.500%) | 8.946 | 12-17-27 | 1,106,874 | 969,068 | |
Sabre GLBL, Inc., 2021 Term Loan B2 (1 month SOFR + 3.500%) | 8.946 | 12-17-27 | 1,725,196 | 1,510,409 | |
TGG TS Acquisition Company, 2018 Term Loan B (1 month SOFR + 6.500%) | 11.946 | 12-14-25 | 1,998,176 | 1,904,262 | |
Verscend Holding Corp., 2021 Term Loan B (1 month SOFR + 4.000%) | 9.446 | 08-27-25 | 3,322,128 | 3,317,975 | |
Software 14.8% | |||||
Access CIG LLC, 2023 Term Loan (1 month SOFR + 5.000%) | 10.331 | 08-18-28 | 2,305,808 | 2,258,724 | |
AppLovin Corp., 2021 Term Loan B (1 month SOFR + 3.100%) | 8.431 | 10-25-28 | 140,088 | 139,738 | |
AppLovin Corp., 2023 Term Loan B (3 month SOFR + 3.100%) | 8.465 | 08-14-30 | 3,095,621 | 3,084,786 | |
Avaya, Inc., 2023 Exit Term Loan (1 month SOFR + 8.500% or 7.000% PIK) | 13.831 | 08-01-28 | 16,837 | 13,954 | |
Azalea TopCo, Inc., 2021 Term Loan B (1 and 3 month SOFR + 3.750%) | 9.196 | 07-24-26 | 1,502,607 | 1,463,795 | |
Azalea TopCo, Inc., Term Loan (1 month SOFR + 3.500%) | 8.820 | 07-24-26 | 1,678,616 | 1,638,330 | |
Barracuda Networks, Inc., 2022 Term Loan (3 month SOFR + 4.500%) | 9.869 | 08-15-29 | 3,298,319 | 3,247,294 | |
Boxer Parent Company, Inc., 2021 USD Term Loan (1 month SOFR + 3.750%) | 9.196 | 10-02-25 | 3,259,355 | 3,256,715 | |
Castle US Holding Corp., USD Term Loan B (1 and 3 month SOFR + 3.750%) | 9.434 | 01-29-27 | 3,765,839 | 2,814,965 | |
Central Parent, Inc., 2022 USD Term Loan B (3 month SOFR + 4.250%) | 9.492 | 07-06-29 | 5,707,172 | 5,708,542 | |
Constant Contact, Inc., Term Loan (3 month SOFR + 4.000%) | 9.561 | 02-10-28 | 4,705,612 | 4,510,329 | |
Cornerstone OnDemand, Inc., 2021 Term Loan (3 month SOFR + 3.750%) | 9.253 | 10-16-28 | 3,799,541 | 3,607,968 | |
Dcert Buyer, Inc., 2019 Term Loan B (1 month SOFR + 4.000%) | 9.331 | 10-16-26 | 4,377,075 | 4,357,859 | |
Dedalus Finance GmbH, 2021 EUR Term Loan B2 (6 month EURIBOR + 3.750%) | 7.712 | 07-17-27 | EUR | 2,043,716 | 2,081,210 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 23 |
Rate (%) | Maturity date | Par value^ | Value | ||
Information technology (continued) | |||||
Software (continued) | |||||
Dodge Data & Analytics LLC, 2022 Term Loan (3 month SOFR + 4.750%) | 10.142 | 02-23-29 | 3,499,148 | $2,819,718 | |
Epicor Software Corp., 2020 Term Loan (1 month SOFR + 3.250%) | 8.696 | 07-30-27 | 4,164,671 | 4,156,342 | |
FinThrive Software Intermediate Holdings, Inc., 2021 2nd Lien Term Loan (1 month SOFR + 6.750%) | 12.581 | 12-17-29 | 1,318,744 | 802,785 | |
FinThrive Software Intermediate Holdings, Inc., 2021 Term Loan (1 month SOFR + 4.000%) | 9.446 | 12-18-28 | 4,851,925 | 4,104,729 | |
Gen Digital, Inc., 2022 Term Loan B (1 month SOFR + 2.000%) | 7.431 | 09-12-29 | 2,274,610 | 2,270,060 | |
Genesys Cloud Services Holdings II LLC, 2020 USD Term Loan B4 (1 month SOFR + 4.000%) | 9.446 | 12-01-27 | 5,707,476 | 5,703,937 | |
Helios Software Holdings, Inc., 2023 Term Loan B (3 month SOFR + 4.250%) | 9.601 | 07-18-30 | 1,706,726 | 1,689,130 | |
ION Trading Finance, Ltd., 2021 USD Term Loan (3 month SOFR + 4.750%) | 10.092 | 04-03-28 | 1,936,144 | 1,894,188 | |
Ivanti Software, Inc., 2021 Add On Term Loan B (3 month SOFR + 4.000%) | 9.538 | 12-01-27 | 2,185,870 | 1,831,343 | |
Magenta Buyer LLC, 2021 USD 1st Lien Term Loan (3 month SOFR + 5.000%) | 10.631 | 07-27-28 | 5,470,501 | 4,073,828 | |
Marcel Bidco LLC, USD Term Loan B1 (3 month SOFR + 3.250%) | 8.424 | 03-15-26 | 3,378,109 | 3,365,441 | |
Mavenir Systems, Inc., 2021 Term Loan B (3 month LIBOR + 4.750%) | 10.389 | 08-18-28 | 1,942,372 | 1,463,578 | |
McAfee Corp., 2022 USD Term Loan B (1 month SOFR + 3.750%) | 9.168 | 03-01-29 | 5,112,429 | 5,010,181 | |
Mitchell International, Inc., 2021 Term Loan B (1 month SOFR + 3.750%) | 9.138 | 10-15-28 | 4,391,648 | 4,320,283 | |
Mitnick Corporate Purchaser, Inc., Term Loan (3 month SOFR + 4.500%) | 9.969 | 05-02-29 | 2,400,000 | 2,296,008 | |
Monotype Imaging Holdings, Inc., 2021 Term Loan B (3 month SOFR + 5.000%) | 10.342 | 10-09-26 | 4,894,487 | 4,894,487 | |
Open Text Corp., 2023 Term Loan B (1 month SOFR + 2.750%) | 8.138 | 01-31-30 | 2,954,336 | 2,955,990 | |
Orchid Finco LLC, Term Loan (3 month SOFR + 4.750%) | 10.142 | 07-27-27 | 3,796,927 | 2,738,534 |
24 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Information technology (continued) | |||||
Software (continued) | |||||
Orion Advisor Solutions, Inc., 2021 Term Loan (3 month SOFR + 3.750%) | 9.381 | 09-24-27 | 2,587,431 | $2,464,528 | |
Peraton Corp., Term Loan B (1 month SOFR + 3.750%) | 9.181 | 02-01-28 | 6,864,954 | 6,790,949 | |
Project Boost Purchaser LLC, 2019 Term Loan B (1 month SOFR + 3.500%) | 8.946 | 06-01-26 | 3,915,724 | 3,908,871 | |
Project Leopard Holdings, Inc., 2022 USD Term Loan B (3 month SOFR + 5.250%) | 10.719 | 07-20-29 | 2,139,961 | 1,966,089 | |
Proofpoint, Inc., 1st Lien Term Loan (1 month SOFR + 3.250%) | 8.696 | 08-31-28 | 3,928,249 | 3,885,902 | |
Quest Software, Inc., 2022 Term Loan (3 month SOFR + 4.250%) | 9.769 | 02-01-29 | 3,334,079 | 2,722,276 | |
Red Planet Borrower LLC, Term Loan B (1 month SOFR + 3.750%) | 9.181 | 10-02-28 | 2,095,362 | 1,973,998 | |
SolarWinds Holdings, Inc., 2022 Term Loan B (1 month SOFR + 3.750%) | 9.081 | 02-05-27 | 4,636,923 | 4,638,175 | |
Sophia LP, 2021 Term Loan B (3 month LIBOR + 3.500%) | 9.038 | 10-07-27 | 2,422,633 | 2,417,085 | |
SS&C Technologies, Inc., 2018 Term Loan B3 (1 month SOFR + 1.750%) | 7.196 | 04-16-25 | 715,274 | 715,202 | |
SS&C Technologies, Inc., 2018 Term Loan B4 (1 month SOFR + 1.750%) | 7.196 | 04-16-25 | 675,419 | 675,351 | |
SS&C Technologies, Inc., 2018 Term Loan B5 (1 month SOFR + 1.750%) | 7.196 | 04-16-25 | 306,201 | 306,073 | |
SS&C Technologies, Inc., 2022 Term Loan B6 (1 month SOFR + 2.250%) | 7.681 | 03-22-29 | 252,767 | 252,588 | |
SS&C Technologies, Inc., 2022 Term Loan B7 (1 month SOFR + 2.250%) | 7.681 | 03-22-29 | 380,969 | 380,699 | |
Symplr Software, Inc., 2020 Term Loan (3 month SOFR + 4.500%) | 9.969 | 12-22-27 | 4,126,494 | 3,664,863 | |
UKG, Inc., Term Loan B (3 month SOFR + 3.750%) | 9.219 | 05-04-26 | 2,602,614 | 2,601,521 | |
Veritas US, Inc., 2021 USD Term Loan B (1 month SOFR + 5.000%) | 10.446 | 09-01-25 | 4,073,766 | 3,425,915 | |
VS Buyer LLC, Term Loan B (1 month SOFR + 3.250%) | 8.681 | 02-28-27 | 2,997,255 | 2,959,789 | |
Weld North Education LLC, 2021 Term Loan B (1 month SOFR + 3.750%) | 9.196 | 12-21-27 | 5,348,447 | 5,276,029 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 25 |
Rate (%) | Maturity date | Par value^ | Value | ||
Information technology (continued) | |||||
Technology hardware, storage and peripherals 0.4% | |||||
Electronics For Imaging, Inc., Term Loan (1 month LIBOR + 5.000%) | 10.210 | 07-23-26 | 6,417,272 | $4,188,104 | |
Materials 7.0% | 68,745,445 | ||||
Chemicals 3.4% | |||||
Ascend Performance Materials Operations LLC, 2021 Term Loan B (3 month SOFR + 4.750%) | 9.715 | 08-27-26 | 2,122,626 | 2,068,562 | |
ASP Unifrax Holdings, Inc., EUR Term Loan B (3 month EURIBOR + 3.750%) | 7.348 | 12-12-25 | EUR | 1,971,405 | 1,929,269 |
ASP Unifrax Holdings, Inc., Term Loan B (3 month SOFR + 3.750%) | 9.142 | 12-12-25 | 452,243 | 416,191 | |
Cyanco Intermediate 2 Corp., 2023 Term Loan B (1 month SOFR + 4.750%) | 10.081 | 07-10-28 | 1,574,487 | 1,577,447 | |
Hyperion Materials & Technologies, Inc., 2021 Term Loan B (1 and 3 month SOFR + 4.250%) | 9.825 | 08-30-28 | 3,953,473 | 3,930,425 | |
INEOS Enterprises Holdings US Finco LLC, 2023 USD 1st Lien Term Loan B (3 month SOFR + 3.750%) | 9.272 | 06-23-30 | 2,417,516 | 2,382,776 | |
INEOS U.S. Petrochem LLC, 2021 USD Term Loan B (1 month SOFR + 2.750%) | 8.196 | 01-29-26 | 3,068,912 | 3,045,895 | |
INEOS US Finance LLC, 2023 USD Term Loan B (1 month SOFR + 3.500%) | 8.820 | 02-18-30 | 2,747,091 | 2,725,801 | |
Jadex, Inc., Term Loan (1 month SOFR + 4.750%) | 10.196 | 02-18-28 | 4,092,561 | 3,690,999 | |
Kraton Corp., 2022 USD Term Loan (3 month SOFR + 3.250%) | 8.766 | 03-15-29 | 2,019,403 | 1,973,118 | |
Olympus Water US Holding Corp., 2021 USD Term Loan B (3 month SOFR + 3.750%) | 9.253 | 11-09-28 | 1,611,808 | 1,586,632 | |
Olympus Water US Holding Corp., 2022 Incremental Term Loan (3 month SOFR + 4.500%) | 9.842 | 11-09-28 | 903,832 | 898,463 | |
Olympus Water US Holding Corp., 2023 Incremental Term Loan (3 month SOFR + 5.000%) | 10.268 | 11-09-28 | 1,461,965 | 1,461,351 | |
Plaskolite PPC Intermediate II LLC, 2021 Term Loan (3 month SOFR + 4.000%) | 9.631 | 12-15-25 | 262 | 244 | |
Secure Acquisition, Inc., 2021 Term Loan (3 month LIBOR + 5.000%) | 10.538 | 12-16-28 | 1,452,945 | 1,415,415 | |
Tronox Finance LLC, Term Loan B (D) | TBD | 08-16-28 | 1,171,908 | 1,161,654 | |
Windsor Holdings III LLC, USD Term Loan B (1 month SOFR + 4.500%) | 9.818 | 08-01-30 | 3,334,236 | 3,319,666 |
26 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Materials (continued) | |||||
Construction materials 0.3% | |||||
Quikrete Holdings, Inc., 2016 1st Lien Term Loan (1 month SOFR + 2.625%) | 8.071 | 02-01-27 | 155,516 | $155,304 | |
Quikrete Holdings, Inc., 2021 Term Loan B1 (1 month SOFR + 3.000%) | 8.320 | 03-18-29 | 2,620,934 | 2,620,777 | |
Containers and packaging 3.0% | |||||
Clydesdale Acquisition Holdings, Inc., Term Loan B (1 month SOFR + 4.175%) | 9.606 | 04-13-29 | 3,319,566 | 3,294,669 | |
Graham Packaging Company, Inc., 2021 Term Loan (1 month SOFR + 3.000%) | 8.446 | 08-04-27 | 4,643,783 | 4,630,455 | |
Iris Holding, Inc., Term Loan (3 month SOFR + 4.750%) | 10.219 | 06-28-28 | 1,660,000 | 1,494,000 | |
KP Germany Erste GmbH, 2021 EUR Term Loan B (6 month EURIBOR + 4.725%) | 8.669 | 02-12-26 | EUR | 1,054,788 | 1,052,522 |
LABL, Inc., 2021 USD 1st Lien Term Loan (1 month SOFR + 5.000%) | 10.431 | 10-29-28 | 4,396,500 | 4,380,013 | |
LTI Holdings, Inc., 2019 Term Loan (1 month SOFR + 4.750%) | 10.196 | 07-24-26 | 4,271,504 | 4,140,711 | |
Plaze, Inc., 2019 Term Loan B (1 month SOFR + 3.500%) | 8.820 | 08-03-26 | 3,530,926 | 3,363,207 | |
Proampac PG Borrower LLC, 2020 Term Loan (1 and 3 month SOFR + 3.750%) | 9.305 | 11-03-25 | 3,686,354 | 3,677,138 | |
TricorBraun Holdings, Inc., 2021 Term Loan (1 month SOFR + 3.250%) | 8.696 | 03-03-28 | 3,080,662 | 2,999,795 | |
Metals and mining 0.3% | |||||
Vibrantz Technologies, Inc., 2022 Term Loan B (3 month SOFR + 4.250%) | 9.698 | 04-23-29 | 3,597,851 | 3,352,946 | |
Utilities 0.3% | 2,995,875 | ||||
Electric utilities 0.3% | |||||
Talen Energy Supply LLC, 2023 Term Loan B (3 month SOFR + 4.500%) | 9.876 | 05-17-30 | 1,714,648 | 1,716,792 | |
Talen Energy Supply LLC, 2023 Term Loan C (3 month SOFR + 4.500%) | 9.876 | 05-17-30 | 1,277,486 | 1,279,083 | |
Corporate bonds 5.1% | $49,700,976 | ||||
(Cost $64,292,871) | |||||
Communication services 1.1% | 10,580,122 | ||||
Diversified telecommunication services 0.6% | |||||
Connect Finco SARL (E) | 6.750 | 10-01-26 | 3,307,000 | 3,137,207 | |
Iliad Holding SASU (E) | 6.500 | 10-15-26 | 1,312,000 | 1,251,891 | |
Iliad Holding SASU (E) | 7.000 | 10-15-28 | 2,017,000 | 1,876,951 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 27 |
Rate (%) | Maturity date | Par value^ | Value | ||
Communication services (continued) | |||||
Media 0.5% | |||||
Sirius XM Radio, Inc. (E) | 4.125 | 07-01-30 | 2,000,000 | $1,630,460 | |
Tele Columbus AG | 3.875 | 05-02-25 | EUR | 2,818,000 | 1,925,091 |
United Group BV (E) | 3.625 | 02-15-28 | EUR | 834,000 | 758,522 |
Consumer discretionary 1.3% | 12,549,974 | ||||
Automobiles 0.3% | |||||
Constellation Automotive Financing PLC (E) | 4.875 | 07-15-27 | GBP | 2,813,000 | 2,850,606 |
Leisure products 0.2% | |||||
Mattel, Inc. (E) | 3.750 | 04-01-29 | 2,000,000 | 1,777,825 | |
Specialty retail 0.8% | |||||
F-Brasile SpA (E) | 7.375 | 08-15-26 | 4,120,000 | 3,782,164 | |
Maxeda DIY Holding BV (E) | 5.875 | 10-01-26 | EUR | 162,000 | 129,598 |
Maxeda DIY Holding BV | 5.875 | 10-01-26 | EUR | 2,640,000 | 2,111,731 |
Staples, Inc. (E) | 7.500 | 04-15-26 | 2,294,000 | 1,898,050 | |
Consumer staples 0.5% | 4,973,812 | ||||
Household products 0.1% | |||||
Kronos International, Inc. | 3.750 | 09-15-25 | EUR | 577,000 | 567,802 |
Personal care products 0.4% | |||||
Douglas GmbH (E) | 6.000 | 04-08-26 | EUR | 1,138,000 | 1,178,461 |
Douglas GmbH | 6.000 | 04-08-26 | EUR | 3,117,000 | 3,227,549 |
Financials 0.3% | 3,126,769 | ||||
Consumer finance 0.1% | |||||
Encore Capital Group, Inc. (E) | 4.250 | 06-01-28 | GBP | 1,409,000 | 1,377,958 |
Mortgage real estate investment trusts 0.2% | |||||
Apollo Commercial Real Estate Finance, Inc. (E) | 4.625 | 06-15-29 | 2,230,000 | 1,748,811 | |
Industrials 0.5% | 5,106,097 | ||||
Air freight and logistics 0.0% | |||||
Rand Parent LLC (E) | 8.500 | 02-15-30 | 247,000 | 235,146 | |
Building products 0.3% | |||||
JELD-WEN, Inc. (E) | 4.625 | 12-15-25 | 518,000 | 502,175 | |
Victors Merger Corp. (E) | 6.375 | 05-15-29 | 2,898,000 | 2,086,472 | |
Marine transportation 0.0% | |||||
Anarafe SLU (3 month EURIBOR + 1.000% Cash or 3 month EURIBOR + 11.750% PIK) (E) | 15.348 | 03-31-26 | EUR | 1,152,407 | 562,326 |
Trading companies and distributors 0.2% | |||||
Beacon Roofing Supply, Inc. (E) | 4.125 | 05-15-29 | 2,000,000 | 1,719,978 |
28 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Information technology 0.2% | $1,810,461 | ||||
Software 0.2% | |||||
ION Trading Technologies Sarl (E) | 5.750 | 05-15-28 | 1,629,000 | 1,423,766 | |
Veritas US, Inc. (E) | 7.500 | 09-01-25 | 472,000 | 386,695 | |
Materials 1.2% | 11,553,741 | ||||
Chemicals 0.4% | |||||
ASP Unifrax Holdings, Inc. (E) | 5.250 | 09-30-28 | 557,000 | 376,672 | |
ASP Unifrax Holdings, Inc. (E) | 7.500 | 09-30-29 | 1,984,000 | 1,032,764 | |
Trinseo Materials Operating SCA (E) | 5.375 | 09-01-25 | 3,210,000 | 2,990,423 | |
Containers and packaging 0.4% | |||||
Berry Global, Inc. (E) | 4.875 | 07-15-26 | 1,900,000 | 1,833,859 | |
Kleopatra Holdings 2 SCA | 6.500 | 09-01-26 | EUR | 2,424,000 | 1,662,226 |
Metals and mining 0.4% | |||||
Midwest Vanadium Proprietary, Ltd. (B)(E) | 11.500 | 02-15-18 | 5,663,972 | 11,328 | |
Vibrantz Technologies, Inc. (E) | 9.000 | 02-15-30 | 4,421,000 | 3,646,469 | |
Asset backed securities 3.1% | $30,928,988 | ||||
(Cost $33,000,277) | |||||
Asset backed securities 3.1% | 30,928,988 | ||||
Atlas Senior Loan Fund X, Ltd. Series 2018-10A, Class D (3 month CME Term SOFR + 3.012%) (E)(F) | 8.320 | 01-15-31 | 4,900,000 | 4,135,164 | |
Cedar Funding VIII CLO, Ltd. Series 2017-8A, Class DR (3 month CME Term SOFR + 3.762%) (E)(F) | 9.069 | 10-17-34 | 850,000 | 822,147 | |
Hayfin US XIV, Ltd. Series 2021-14A, Class D (3 month CME Term SOFR + 3.912%) (E)(F) | 9.238 | 07-20-34 | 3,000,000 | 2,874,258 | |
Jamestown CLO IX, Ltd. Series 2016-9A, Class CRR (3 month CME Term SOFR + 4.162%) (E)(F) | 9.513 | 07-25-34 | 3,450,000 | 3,379,096 | |
Jamestown CLO XVI, Ltd. Series 2021-16A, Class D (3 month CME Term SOFR + 3.912%) (E)(F) | 9.263 | 07-25-34 | 3,100,000 | 2,966,805 | |
Marble Point CLO XI, Ltd. Series 2017-2A, Class D (3 month CME Term SOFR + 3.062%) (E)(F) | 8.371 | 12-18-30 | 2,500,000 | 2,103,095 | |
Northwoods Capital XVII, Ltd. Series 2018-17A, Class D (3 month CME Term SOFR + 3.112%) (E)(F) | 8.457 | 04-22-31 | 1,350,000 | 1,213,493 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 29 |
Rate (%) | Maturity date | Par value^ | Value | ||
Asset backed securities (continued) | |||||
Parallel, Ltd. Series 2020-1A, Class CR (3 month CME Term SOFR + 3.662%) (E)(F) | 8.988 | 07-20-34 | 1,350,000 | $1,296,398 | |
Sculptor CLO XXVII, Ltd. Series 27A, Class D (3 month CME Term SOFR + 3.962%) (E)(F) | 9.288 | 07-20-34 | 3,550,000 | 3,333,102 | |
Shackleton XIV CLO, Ltd. Series 2019-14A, Class DR (3 month CME Term SOFR + 3.962%) (E)(F) | 9.288 | 07-20-34 | 2,950,000 | 2,876,979 | |
TCW CLO, Ltd. Series 2020-1A, Class DRR (3 month CME Term SOFR + 3.662%) (E)(F) | 8.988 | 04-20-34 | 1,300,000 | 1,254,958 | |
Wellfleet CLO, Ltd. | |||||
Series 2020-2A, Class DR (3 month CME Term SOFR + 4.062%) (E)(F) | 9.369 | 07-15-34 | 2,900,000 | 2,638,368 | |
Series 2021-2A, Class D (3 month CME Term SOFR + 3.862%) (E)(F) | 9.169 | 07-15-34 | 2,200,000 | 2,035,125 | |
Shares | Value | ||||
Common stocks 0.2% | $2,186,802 | ||||
(Cost $5,630,443) | |||||
Communication services 0.2% | 1,916,648 | ||||
Entertainment 0.2% | |||||
Cineworld Group PLC (G) | 80,799 | 1,701,862 | |||
Technicolor Creative Studios SA (G) | 94,449 | 214,786 | |||
Consumer discretionary 0.0% | 96,645 | ||||
Hotels, restaurants and leisure 0.0% | |||||
NPC International, Inc. (C)(G) | 120,071 | 96,645 | |||
Financials 0.0% | 5 | ||||
Insurance 0.0% | |||||
Jubilee Topco, Ltd. (C)(G) | 4,772,269 | 5 | |||
Industrials 0.0% | 11,677 | ||||
Marine transportation 0.0% | |||||
Naviera Armas SA, Class A2 (C)(G) | 2,453 | 0 | |||
Naviera Armas SA, Class A3 (G) | 430 | 5,129 | |||
Naviera Armas SA, Class B2 (C)(G) | 3,126 | 0 | |||
Naviera Armas SA, Class B3 (G) | 549 | 6,548 |
30 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Information technology 0.0% | $161,827 | ||||
Communications equipment 0.0% | |||||
Vantiva SA (G) | 849,152 | 155,624 | |||
Software 0.0% | |||||
Avaya Holdings Corp. (G) | 809 | 6,203 | |||
Exchange-traded funds 4.1% | $39,787,680 | ||||
(Cost $39,535,801) | |||||
Invesco Senior Loan ETF | 1,411,393 | 29,766,279 | |||
SPDR Blackstone Senior Loan ETF | 237,925 | 10,021,401 | |||
Par value^ | Value | ||||
Escrow certificates 0.0% | $0 | ||||
(Cost $0) | |||||
Magellan Health, Inc. (C)(G) | 3,400,000 | 0 | |||
Yield (%) | Shares | Value | |||
Short-term investments 3.4% | $33,804,673 | ||||
(Cost $33,804,673) | |||||
Short-term funds 3.4% | 33,804,673 | ||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 5.2681(H) | 33,804,673 | 33,804,673 | ||
Total investments (Cost $1,016,993,353) 97.7% | $962,868,160 | ||||
Other assets and liabilities, net 2.3% | 23,020,902 | ||||
Total net assets 100.0% | $985,889,062 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
^All par values are denominated in U.S. dollars unless otherwise indicated. | |
Currency Abbreviations | |
EUR | Euro |
GBP | Pound Sterling |
Security Abbreviations and Legend | |
CME | Chicago Mercantile Exchange |
EURIBOR | Euro Interbank Offered Rate |
LIBOR | London Interbank Offered Rate |
PIK | Pay-in-Kind Security - Represents a payment-in-kind which may pay interest in additional par and/or cash. Rates shown are the current rate and most recent payment rate. |
SOFR | Secured Overnight Financing Rate |
SONIA | Sterling Overnight Interbank Average Rate |
(A) | Term loans are variable rate obligations. The rate shown represents the rate at period end. |
(B) | Non-income producing - Issuer is in default. |
(C) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
(D) | This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate, which is disclosed as TBD (To Be Determined). |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 31 |
(E) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
(F) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
(G) | Non-income producing security. |
(H) | The rate shown is the annualized seven-day yield as of 8-31-23. |
32 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Contract to buy | Contract to sell | Counterparty (OTC) | Contractual settlement date | Unrealized appreciation | Unrealized depreciation | ||
EUR | 840,000 | USD | 922,885 | CITI | 3/27/2024 | — | $(2,294) |
EUR | 14,960,000 | USD | 16,677,248 | CITI | 3/28/2024 | — | (281,167) |
GBP | 5,180,000 | USD | 6,650,717 | CITI | 10/10/2023 | — | (87,749) |
USD | 1,964,466 | EUR | 1,760,000 | CITI | 3/27/2024 | $35,609 | — |
USD | 59,178,279 | EUR | 54,210,000 | CITI | 3/28/2024 | — | (235,595) |
USD | 15,627,341 | GBP | 12,260,000 | CITI | 10/10/2023 | 94,139 | — |
$129,748 | $(606,805) |
Derivatives Currency Abbreviations | |
EUR | Euro |
GBP | Pound Sterling |
USD | U.S. Dollar |
Derivatives Abbreviations | |
CITI | Citibank, N.A. |
OTC | Over-the-counter |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 33 |
Assets | |
Unaffiliated investments, at value (Cost $1,016,993,353) | $962,868,160 |
Unrealized appreciation on forward foreign currency contracts | 129,748 |
Cash | 12,458,285 |
Foreign currency, at value (Cost $4,848,697) | 4,781,755 |
Collateral segregated at custodian for OTC derivative contracts | 2,135,284 |
Interest receivable | 9,019,339 |
Receivable for fund shares sold | 1,151,580 |
Receivable for investments sold | 20,807,994 |
Receivable for securities lending income | 2,646 |
Receivable from affiliates | 5,370 |
Other assets | 84,730 |
Total assets | 1,013,444,891 |
Liabilities | |
Unrealized depreciation on forward foreign currency contracts | 606,805 |
Distributions payable | 45,493 |
Payable for investments purchased | 24,652,173 |
Payable for fund shares repurchased | 2,060,582 |
Payable to affiliates | |
Accounting and legal services fees | 48,835 |
Transfer agent fees | 39,491 |
Trustees’ fees | 66 |
Other liabilities and accrued expenses | 102,384 |
Total liabilities | 27,555,829 |
Net assets | $985,889,062 |
Net assets consist of | |
Paid-in capital | $1,524,977,079 |
Total distributable earnings (loss) | (539,088,017) |
Net assets | $985,889,062 |
34 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Net asset value per share | |
Based on net asset value and shares outstanding - the fund has an unlimited number of shares authorized with no par value | |
Class A ($132,262,518 ÷ 17,249,936 shares)1 | $7.67 |
Class C ($13,003,828 ÷ 1,689,144 shares)1 | $7.70 |
Class I ($275,205,082 ÷ 35,932,063 shares) | $7.66 |
Class R6 ($81,959,029 ÷ 10,682,633 shares) | $7.67 |
Class 1 ($15,174,600 ÷ 1,981,583 shares) | $7.66 |
Class NAV ($468,284,005 ÷ 61,070,266 shares) | $7.67 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 97.5%)2 | $7.87 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $100,000. On sales of $100,000 or more and on group sales the offering price is reduced. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 35 |
Investment income | |
Interest | $112,027,641 |
Dividends | 3,157,779 |
Securities lending | 60,695 |
Other income | 226 |
Total investment income | 115,246,341 |
Expenses | |
Investment management fees | 8,405,559 |
Distribution and service fees | 499,953 |
Line of credit fees | 345,120 |
Accounting and legal services fees | 261,124 |
Transfer agent fees | 518,263 |
Trustees’ fees | 36,013 |
Custodian fees | 192,531 |
State registration fees | 123,660 |
Printing and postage | 60,599 |
Professional fees | 179,882 |
Other | 276,650 |
Total expenses | 10,899,354 |
Less expense reductions | (1,477,152) |
Net expenses | 9,422,202 |
Net investment income | 105,824,139 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | (97,062,867) |
Affiliated investments | (2,445) |
Realized loss on investments not meeting investment restrictions | (528,100) |
Reimbursement from subadvisor for loss on investments not meeting investment restrictions | 528,100 |
Forward foreign currency contracts | (494,492) |
(97,559,804) | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | 78,178,520 |
Affiliated investments | 3,810 |
Forward foreign currency contracts | (5,839,690) |
72,342,640 | |
Net realized and unrealized loss | (25,217,164) |
Increase in net assets from operations | $80,606,975 |
36 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Year ended 8-31-23 | Year ended 8-31-22 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $105,824,139 | $86,944,997 |
Net realized loss | (97,559,804) | (17,999,009) |
Change in net unrealized appreciation (depreciation) | 72,342,640 | (118,402,997) |
Increase (decrease) in net assets resulting from operations | 80,606,975 | (49,457,009) |
Distributions to shareholders | ||
From earnings | ||
Class A | (12,318,733) | (6,741,097) |
Class C | (1,344,832) | (794,453) |
Class I | (26,560,729) | (22,133,222) |
Class R6 | (21,036,355) | (22,072,207) |
Class 1 | (1,386,108) | (800,303) |
Class NAV | (55,312,802) | (46,730,483) |
Total distributions | (117,959,559) | (99,271,765) |
From fund share transactions | (867,790,123) | 289,452,146 |
Total increase (decrease) | (905,142,707) | 140,723,372 |
Net assets | ||
Beginning of year | 1,891,031,769 | 1,750,308,397 |
End of year | $985,889,062 | $1,891,031,769 |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 37 |
CLASS A SHARES Period ended | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 | 8-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $7.75 | $8.30 | $7.89 | $8.28 | $8.43 |
Net investment income1 | 0.63 | 0.34 | 0.30 | 0.36 | 0.40 |
Net realized and unrealized gain (loss) on investments | (0.02) | (0.51) | 0.36 | (0.36) | (0.16) |
Total from investment operations | 0.61 | (0.17) | 0.66 | — | 0.24 |
Less distributions | |||||
From net investment income | (0.69) | (0.38) | (0.25) | (0.39) | (0.39) |
Net asset value, end of period | $7.67 | $7.75 | $8.30 | $7.89 | $8.28 |
Total return (%)2,3 | 8.52 | (2.05) | 8.41 | 0.11 | 2.96 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $132 | $148 | $118 | $89 | $109 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.164 | 1.10 | 1.12 | 1.175 | 1.16 |
Expenses including reductions | 1.024 | 1.01 | 1.00 | 0.995 | 1.06 |
Net investment income | 8.31 | 4.18 | 3.71 | 4.49 | 4.77 |
Portfolio turnover (%) | 28 | 52 | 59 | 81 | 120 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
3 | Does not reflect the effect of sales charges, if any. |
4 | Includes interest expense of 0.02%. |
5 | Includes reimbursement of legal fees of 0.01%. |
38 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS C SHARES Period ended | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 | 8-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $7.78 | $8.33 | $7.92 | $8.32 | $8.47 |
Net investment income1 | 0.57 | 0.27 | 0.25 | 0.30 | 0.33 |
Net realized and unrealized gain (loss) on investments | (0.01) | (0.50) | 0.34 | (0.37) | (0.15) |
Total from investment operations | 0.56 | (0.23) | 0.59 | (0.07) | 0.18 |
Less distributions | |||||
From net investment income | (0.64) | (0.32) | (0.18) | (0.33) | (0.33) |
Net asset value, end of period | $7.70 | $7.78 | $8.33 | $7.92 | $8.32 |
Total return (%)2,3 | 7.71 | (2.76) | 7.58 | (0.74) | 2.20 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $13 | $19 | $22 | $39 | $71 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.914 | 1.85 | 1.87 | 1.925 | 1.91 |
Expenses including reductions | 1.774 | 1.76 | 1.75 | 1.745 | 1.81 |
Net investment income | 7.51 | 3.37 | 3.00 | 3.77 | 3.99 |
Portfolio turnover (%) | 28 | 52 | 59 | 81 | 120 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
3 | Does not reflect the effect of sales charges, if any. |
4 | Includes interest expense of 0.02%. |
5 | Includes reimbursement of legal fees of 0.01%. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 39 |
CLASS I SHARES Period ended | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 | 8-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $7.74 | $8.29 | $7.89 | $8.28 | $8.43 |
Net investment income1 | 0.64 | 0.35 | 0.31 | 0.38 | 0.41 |
Net realized and unrealized gain (loss) on investments | (0.01) | (0.50) | 0.35 | (0.36) | (0.15) |
Total from investment operations | 0.63 | (0.15) | 0.66 | 0.02 | 0.26 |
Less distributions | |||||
From net investment income | (0.71) | (0.40) | (0.26) | (0.41) | (0.41) |
Net asset value, end of period | $7.66 | $7.74 | $8.29 | $7.89 | $8.28 |
Total return (%)2 | 8.77 | (1.83) | 8.52 | 0.34 | 3.19 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $275 | $454 | $252 | $49 | $66 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.903 | 0.85 | 0.87 | 0.924 | 0.92 |
Expenses including reductions | 0.793 | 0.78 | 0.77 | 0.764 | 0.83 |
Net investment income | 8.43 | 4.42 | 3.84 | 4.72 | 4.94 |
Portfolio turnover (%) | 28 | 52 | 59 | 81 | 120 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
3 | Includes interest expense of 0.02%. |
4 | Includes reimbursement of legal fees of 0.01%. |
40 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R6 SHARES Period ended | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 | 8-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $7.75 | $8.30 | $7.89 | $8.29 | $8.43 |
Net investment income1 | 0.63 | 0.37 | 0.32 | 0.39 | 0.42 |
Net realized and unrealized gain (loss) on investments | 0.01 | (0.51) | 0.36 | (0.37) | (0.14) |
Total from investment operations | 0.64 | (0.14) | 0.68 | 0.02 | 0.28 |
Less distributions | |||||
From net investment income | (0.72) | (0.41) | (0.27) | (0.42) | (0.42) |
Net asset value, end of period | $7.67 | $7.75 | $8.30 | $7.89 | $8.29 |
Total return (%)2 | 8.89 | (1.71) | 8.77 | 0.33 | 3.44 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $82 | $505 | $342 | $2 | $3 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.803 | 0.74 | 0.77 | 0.814 | 0.81 |
Expenses including reductions | 0.683 | 0.66 | 0.66 | 0.654 | 0.71 |
Net investment income | 8.32 | 4.57 | 3.93 | 4.88 | 5.06 |
Portfolio turnover (%) | 28 | 52 | 59 | 81 | 120 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
3 | Includes interest expense of 0.02%. |
4 | Includes reimbursement of legal fees of 0.01%. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 41 |
CLASS 1 SHARES Period ended | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 | 8-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $7.74 | $8.29 | $7.88 | $8.28 | $8.42 |
Net investment income1 | 0.65 | 0.36 | 0.33 | 0.38 | 0.42 |
Net realized and unrealized gain (loss) on investments | (0.01) | (0.50) | 0.35 | (0.36) | (0.14) |
Total from investment operations | 0.64 | (0.14) | 0.68 | 0.02 | 0.28 |
Less distributions | |||||
From net investment income | (0.72) | (0.41) | (0.27) | (0.42) | (0.42) |
Net asset value, end of period | $7.66 | $7.74 | $8.29 | $7.88 | $8.28 |
Total return (%)2 | 8.85 | (1.76) | 8.74 | 0.29 | 3.39 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $15 | $16 | $15 | $16 | $27 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.843 | 0.78 | 0.81 | 0.854 | 0.84 |
Expenses including reductions | 0.723 | 0.70 | 0.70 | 0.694 | 0.75 |
Net investment income | 8.63 | 4.46 | 4.04 | 4.82 | 5.07 |
Portfolio turnover (%) | 28 | 52 | 59 | 81 | 120 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
3 | Includes interest expense of 0.02%. |
4 | Includes reimbursement of legal fees of 0.01%. |
42 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS NAV SHARES Period ended | 8-31-23 | 8-31-22 | 8-31-21 | 8-31-20 | 8-31-19 |
Per share operating performance | |||||
Net asset value, beginning of period | $7.75 | $8.30 | $7.89 | $8.29 | $8.44 |
Net investment income1 | 0.65 | 0.36 | 0.33 | 0.38 | 0.42 |
Net realized and unrealized gain (loss) on investments | (0.01) | (0.50) | 0.35 | (0.36) | (0.15) |
Total from investment operations | 0.64 | (0.14) | 0.68 | 0.02 | 0.27 |
Less distributions | |||||
From net investment income | (0.72) | (0.41) | (0.27) | (0.42) | (0.42) |
Net asset value, end of period | $7.67 | $7.75 | $8.30 | $7.89 | $8.29 |
Total return (%)2 | 8.89 | (1.72) | 8.78 | 0.34 | 3.32 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $468 | $749 | $1,001 | $583 | $648 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 0.793 | 0.73 | 0.76 | 0.804 | 0.79 |
Expenses including reductions | 0.683 | 0.67 | 0.66 | 0.654 | 0.71 |
Net investment income | 8.59 | 4.42 | 4.03 | 4.80 | 5.08 |
Portfolio turnover (%) | 28 | 52 | 59 | 81 | 120 |
1 | Based on average daily shares outstanding. |
2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
3 | Includes interest expense of 0.02%. |
4 | Includes reimbursement of legal fees of 0.01%. |
SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 43 |
44 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT |
Total value at 8-31-23 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Term loans | $806,459,041 | — | $805,343,135 | $1,115,906 |
Corporate bonds | 49,700,976 | — | 49,700,976 | — |
Asset backed securities | 30,928,988 | — | 30,928,988 | — |
Common stocks | 2,186,802 | — | 2,090,152 | 96,650 |
Exchange-traded funds | 39,787,680 | $39,787,680 | — | — |
Escrow certificates | — | — | — | — |
Short-term investments | 33,804,673 | 33,804,673 | — | — |
Total investments in securities | $962,868,160 | $73,592,353 | $888,063,251 | $1,212,556 |
Derivatives: | ||||
Assets | ||||
Forward foreign currency contracts | $129,748 | — | $129,748 | — |
Liabilities | ||||
Forward foreign currency contracts | (606,805) | — | (606,805) | — |
Level 3 includes securities valued at $0. Refer to Fund’s investments. |
ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 45 |
46 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 47 |
August 31, 2023 | August 31, 2022 | |
Ordinary income | $117,959,559 | $99,271,765 |
48 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 49 |
Risk | Statement of assets and liabilities location | Financial instruments location | Assets derivatives fair value | Liabilities derivatives fair value |
Currency | Unrealized appreciation (depreciation) on forward foreign currency contracts | Forward foreign currency contracts | $129,748 | $(606,805) |
Statement of operations location - Net realized gain (loss) on: | |
Risk | Forward foreign currency contracts |
Currency | $(494,492) |
Statement of operations location - Change in net unrealized appreciation (depreciation) of: | |
Risk | Forward foreign currency contracts |
Currency | $(5,839,690) |
50 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT |
Class | Expense reduction |
Class A | $192,174 |
Class C | 22,387 |
Class I | 333,730 |
Class R6 | 241,704 |
Class | Expense reduction |
Class 1 | $18,954 |
Class NAV | 668,203 |
Total | $1,477,152 |
ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 51 |
Class | Rule 12b-1 Fee |
Class A | 0.25% |
Class C | 1.00% |
Class 1 | 0.05% |
Class | Distribution and service fees | Transfer agent fees |
Class A | $334,232 | $153,841 |
Class C | 158,416 | 18,208 |
Class I | — | 327,302 |
Class R6 | — | 18,912 |
Class 1 | 7,305 | — |
Total | $499,953 | $518,263 |
52 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) | |
Borrower | $16,458,333 | 12 | 3.734% | $(20,484) |
Year Ended 8-31-23 | Year Ended 8-31-22 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 4,461,202 | $33,675,926 | 10,434,447 | $84,749,925 |
Distributions reinvested | 1,581,943 | 11,875,881 | 806,177 | 6,433,481 |
Repurchased | (7,863,503) | (59,259,786) | (6,377,777) | (50,892,346) |
Net increase (decrease) | (1,820,358) | $(13,707,979) | 4,862,847 | $40,291,060 |
Class C shares | ||||
Sold | 369,286 | $2,790,311 | 980,306 | $7,931,110 |
Distributions reinvested | 174,240 | 1,312,229 | 97,294 | 781,387 |
Repurchased | (1,280,485) | (9,686,247) | (1,254,225) | (10,141,370) |
Net decrease | (736,959) | $(5,583,707) | (176,625) | $(1,428,873) |
Class I shares | ||||
Sold | 17,592,037 | $133,126,728 | 62,172,144 | $505,445,207 |
Distributions reinvested | 3,511,156 | 26,314,458 | 2,720,474 | 21,648,456 |
Repurchased | (43,859,656) | (329,990,420) | (36,607,154) | (287,313,849) |
Net increase (decrease) | (22,756,463) | $(170,549,234) | 28,285,464 | $239,779,814 |
Class R6 shares | ||||
Sold | 2,764,690 | $20,712,475 | 30,172,801 | $244,461,199 |
Distributions reinvested | 2,775,511 | 20,774,532 | 2,770,898 | 22,067,012 |
Repurchased | (60,078,059) | (450,848,904) | (8,915,038) | (70,409,551) |
Net increase (decrease) | (54,537,858) | $(409,361,897) | 24,028,661 | $196,118,660 |
ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 53 |
Year Ended 8-31-23 | Year Ended 8-31-22 | |||
Shares | Amount | Shares | Amount | |
Class 1 shares | ||||
Sold | 383,396 | $2,886,060 | 1,106,159 | $8,911,905 |
Distributions reinvested | 184,832 | 1,386,108 | 100,198 | 800,303 |
Repurchased | (683,135) | (5,126,711) | (979,229) | (7,911,628) |
Net increase (decrease) | (114,907) | $(854,543) | 227,128 | $1,800,580 |
Class NAV shares | ||||
Sold | 519,887 | $3,922,350 | 3,557,207 | $29,092,698 |
Distributions reinvested | 7,372,704 | 55,312,802 | 5,822,481 | 46,730,483 |
Repurchased | (43,446,863) | (326,967,915) | (33,440,597) | (262,932,276) |
Net decrease | (35,554,272) | $(267,732,763) | (24,060,909) | $(187,109,095) |
Total net increase (decrease) | (115,520,817) | $(867,790,123) | 33,166,566 | $289,452,146 |
Fund | Affiliated Concentration |
John Hancock Funds II Multimanager Lifestyle Balanced Portfolio | 18.0% |
John Hancock Funds II Multimanager Lifestyle Growth Portfolio | 9.7% |
John Hancock Funds II Multimanager Lifestyle Conservative Portfolio | 8.1% |
John Hancock Funds II Multimanager Lifestyle Moderate Portfolio | 7.9% |
54 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT |
Dividends and distributions | |||||||||
Affiliate | Ending share amount | Beginning value | Cost of purchases | Proceeds from shares sold | Realized gain (loss) | Change in unrealized appreciation (depreciation) | Income distributions received | Capital gain distributions received | Ending value |
John Hancock Collateral Trust* | — | $6,838,815 | $97,991,862 | $(104,832,042) | $(2,445) | $3,810 | $60,695 | — | — |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 55 |
56 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT |
ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 57 |
58 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT |
(a) | the skills and competency with which the Advisor has in the past managed the Trust’s affairs and its subadvisory relationship, the Advisor’s oversight and monitoring of the Subadvisor’s investment performance and compliance programs, such as the Subadvisor’s compliance with fund policies and objectives, review of brokerage matters, including with respect to trade allocation and best execution and the Advisor’s timeliness in responding to performance issues; |
(b) | the background, qualifications and skills of the Advisor’s personnel; |
(c) | the Advisor’s compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments; |
(d) | the Advisor’s administrative capabilities, including its ability to supervise the other service providers for the fund, as well as the Advisor’s oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the fund, and bringing loss recovery actions on behalf of the fund; |
(e) | the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the fund; |
ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 59 |
(f) | the Advisor’s initiatives intended to improve various aspects of the Trust’s operations and investor experience with the fund; and |
(g) | the Advisor’s reputation and experience in serving as an investment advisor to the Trust and the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of investments. |
(a) | reviewed information prepared by management regarding the fund’s performance; |
(b) | considered the comparative performance of an applicable benchmark index; |
(c) | considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of fund data; and |
(d) | took into account the Advisor’s analysis of the fund’s performance and its plans and recommendations regarding the Trust’s subadvisory arrangements generally. |
60 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT |
(a) | reviewed financial information of the Advisor; |
(b) | reviewed and considered information presented by the Advisor regarding the net profitability to the Advisor and its affiliates with respect to the fund; |
(c) | received and reviewed profitability information with respect to the John Hancock Fund Complex as a whole and with respect to the fund; |
(d) | received information with respect to the Advisor’s allocation methodologies used in preparing the profitability data and considered that the Advisor hired an independent third-party consultant to provide an analysis of the Advisor’s allocation methodologies; |
(e) | considered that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain funds of the Trust and noted that these tax benefits, which are not available to participants in qualified retirement plans under applicable income tax law, are reflected in the profitability information reviewed by the Board; |
(f) | considered that the Advisor also provides administrative services to the fund on a cost basis pursuant to an administrative services agreement; |
(g) | noted that affiliates of the Advisor provide transfer agency services and distribution services to the fund, and that the fund’s distributor also receives Rule 12b-1 payments to support distribution of the fund; |
(h) | noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the fund; |
(i) | noted that the subadvisory fee for the fund is paid by the Advisor and is negotiated at arm’s length; |
(j) | considered the Advisor’s ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and |
(k) | considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to the fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk. |
ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 61 |
(a) | considered that the Advisor has contractually agreed to waive a portion of its management fee for certain funds of the John Hancock Fund Complex, including the fund (the participating portfolios) or otherwise reimburse the expenses of the participating portfolios (the reimbursement). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund; |
(b) | reviewed the fund’s advisory fee structure and concluded that: (i) the fund’s fee structure contains breakpoints at the subadvisory fee level and that such breakpoints are reflected as breakpoints in the advisory fees for the fund; and (ii) although economies of scale cannot be measured with precision, these arrangements permit shareholders of the fund to benefit from economies of scale if the fund grows. The Board also took into account management’s discussion of the fund’s advisory fee structure; and |
(c) | the Board also considered the effect of the fund’s growth in size on its performance and fees. The Board also noted that if the fund’s assets increase over time, the fund may realize other economies of scale. |
(1) | information relating to the Subadvisor’s business, including current subadvisory services to the Trust (and other funds in the John Hancock Fund Complex); |
(2) | the historical and current performance of the fund and comparative performance information relating to an applicable benchmark index and comparable funds; |
(3) | the subadvisory fee for the fund, including any breakpoints, and to the extent available, comparable fee information prepared by an independent third party provider of fund data; and |
(4) | information relating to the nature and scope of any material relationships and their significance to the Trust’s Advisor and Subadvisor. |
62 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT |
(1) | the Subadvisor has extensive experience and demonstrated skills as a manager; |
(2) | the performance of the fund is being monitored and reasonably addressed, where appropriate; |
(3) | the subadvisory fee is reasonable in relation to the level and quality of services being provided under the Subadvisory Agreement; and |
ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 63 |
(4) | noted that the subadvisory fees are paid by the Advisor not the fund and that the subadvisory fee breakpoints are reflected as breakpoints in the advisory fees for the fund in order to permit shareholders to benefit from economies of scale if the fund grows. |
64 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT |
• | The Fund’s investment strategy remained appropriate for an open-end fund structure; |
• | The Fund was able to meet requests for redemption without significant dilution of remaining shareholders’ interests in the Fund; |
ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 65 |
• | The Fund did not experience any breaches of the 15% limit on illiquid investments, or any applicable HLIM, that would require reporting to the Securities and Exchange Commission; |
• | The Chief Compliance Officer’s office, as a part of their annual Rule 38a-1 assessment of the Fund’s policies and procedures, reviewed the LRMP’s control environment and deemed it to be operating effectively and in compliance with the Board approved procedures. |
66 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT |
Independent Trustees | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Hassell H. McClellan,2 Born: 1945 | 2005 | 186 |
Trustee and Chairperson of the Board | ||
Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. | ||
James R. Boyle, Born: 1959 | 2015 | 183 |
Trustee | ||
Board Member, United of Omaha Life Insurance Company (since 2022). Board Member, Mutual of Omaha Investor Services, Inc. (since 2022). Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). | ||
William H. Cunningham,3 Born: 1944 | 2012 | 184 |
Trustee | ||
Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | ||
Noni L. Ellison,* Born: 1971 | 2022 | 183 |
Trustee | ||
Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children’s Healthcare of Atlanta Foundation Board (2021–present). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | ||
Grace K. Fey, Born: 1946 | 2008 | 186 |
Trustee | ||
Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | ||
Dean C. Garfield,* Born: 1968 | 2022 | 183 |
Trustee | ||
Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |
ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 67 |
Independent Trustees (continued) | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Deborah C. Jackson, Born: 1952 | 2012 | 185 |
Trustee | ||
President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women’s Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | ||
Steven R. Pruchansky, Born: 1944 | 2012 | 183 |
Trustee and Vice Chairperson of the Board | ||
Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex. | ||
Frances G. Rathke,3 Born: 1960 | 2020 | 183 |
Trustee | ||
Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director and Audit Committee Chair, Planet Fitness (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020). | ||
Gregory A. Russo, Born: 1949 | 2012 | 183 |
Trustee | ||
Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018), and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
68 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT |
Non-Independent Trustees4 | ||
Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years | Trustee of the Trust since1 | Number of John Hancock funds overseen by Trustee |
Andrew G. Arnott, Born: 1971 | 2017 | 184 |
Non-Independent Trustee | ||
Global Head of Retail for Manulife (since 2022); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (2018-2023); Director and Chairman, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Chairman, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); Director and Chairman, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (2007-2023, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | ||
Paul Lorentz,† Born: 1968 | 2022 | 183 |
Non-Independent Trustee | ||
Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |
Principal officers who are not Trustees | |
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years | Current Position(s) with the Trust since |
Kristie M. Feinberg, Born: 1975 | 2023 |
President | |
Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2023); CFO and Global Head of Strategy, Manulife Investment Management (2021-2023, including prior positions); CFO Americas & Global Head of Treasury, Invesco, Ltd., Invesco US (2019-2020, including prior positions); Senior Vice President, Corporate Treasurer and Business Controller, Oppenheimer Funds (2001-2019, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2023). | |
Charles A. Rizzo, Born: 1957 | 2007 |
Chief Financial Officer | |
Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2008); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2007). | |
Salvatore Schiavone, Born: 1965 | 2009 |
Treasurer | |
Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). |
ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 69 |
Principal officers who are not Trustees (continued) | |
Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years | Current Position(s) with the Trust since |
Christopher (Kit) Sechler, Born: 1973 | 2018 |
Secretary and Chief Legal Officer | |
Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions). | |
Trevor Swanberg, Born: 1979 | 2020 |
Chief Compliance Officer | |
Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions). |
1 | Each Trustee holds office until his or her successor is duly elected and qualified, or until the Trustee’s death, retirement, resignation, or removal. Mr. Boyle has served as Trustee at various times prior to the date listed in the table. |
2 | Member of the Audit Committee as of September 26, 2023. |
3 | Member of the Audit Committee. |
4 | The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates. |
* | Elected to serve as Independent Trustee effective as of September 9, 2022. |
† | Elected to serve as Non-Independent Trustee effective as of September 9, 2022. |
70 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT |
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
William H. Cunningham*
Grace K. Fey
Noni L. Ellison^
Dean C. Garfield^
Deborah C. Jackson
Patricia Lizarraga*,^,§
Frances G. Rathke*
Gregory A. Russo
President
Chief Financial Officer
Treasurer
Secretary and Chief Legal Officer
Chief Compliance Officer
Kim Harris
Nate Whittier
You can also contact us: | ||
800-225-5291 | Regular mail: | Express mail: |
jhinvestments.com | John Hancock Signature Services, Inc. P.O. Box 219909 Kansas City, MO 64121-9909 | John Hancock Signature Services, Inc. 430 W 7th Street Suite 219909 Kansas City, MO 64105-1407 |
ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 71 |
GOVERNANCE FUNDS
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MF3099579 | 328A 8/23 |
ITEM 2. CODE OF ETHICS.
As of the end of the fiscal year, August 31, 2023, the registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its Chief Executive Officer, Chief Financial Officer and Treasurer (respectively, the principal executive officer, the principal financial officer and the principal accounting officer, the "Covered Officers"). A copy of the code of ethics is filed as an exhibit to this Form N-CSR.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Frances G. Rathke is the audit committee financial expert and is "independent", pursuant to general instructions on Form N-CSR Item 3.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
(a) Audit fees:
The aggregate fees billed for professional services rendered by the principal accountant for the audits of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements amounted to the following for the fiscal years ended August 31, 2023 and 2022. These fees were billed to the registrant and were approved by the registrant's audit committee.
2023: $67,587
2022: $64,717
(b) Audit related fees:
Audit-related fees for assurance and related services by the principal accountant are billed to the registrant or to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser ("control affiliates") that provides ongoing services to the registrant. The nature of the services provided was affiliated service provider internal controls reviews, and reviews related to supplemental regulatory filings. Amounts billed to the registrant for the fiscal years ended August 31, 2023 and 2022 were as follows:
2023: $613
2022: $898
Amounts billed to control affiliates were $127,376 and $129,201 for the fiscal years ended August 31, 2023 and 2022, respectively.
(c) Tax fees:
The aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning ("tax fees") amounted to the following for the fiscal years ended August 31, 2023 and 2022. The nature of the services comprising the tax fees was the review of the registrant's tax distribution requirements. These fees were billed to the registrant and were approved by the registrant's audit committee.
2023: $0
2022: $0
(d) All other fees:
The nature of the services comprising all other fees is advisory services provided to the investment manager. Other fees amounted to the following for the fiscal years ended August 31, 2023 and 2022:
2023: $0
2022: $371
(e)(1) Audit Committee Pre-Approval Policies and Procedures:
The Trust's Audit Committee must pre-approve all audit and non-audit services provided by the independent registered public accounting firm (the "Auditor") relating to the operations or financial reporting of the funds. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.
The Trust's Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee's consideration of audit-related and non-audit services by the Auditor. The policies and procedures require that any audit-related and non-audit service provided by the Auditor and any non-audit service provided by the Auditor to a fund service provider that relates directly to the operations and financial reporting of a fund are subject to approval by the Audit Committee before such service is provided. Audit-related services provided by the Auditor that are expected to exceed $25,000 per instance/per fund are subject to specific pre-approval by the Audit Committee. Tax services provided by the Auditor that are expected to exceed $30,000 per instance/per fund are subject to specific pre-approval by the Audit Committee.
All audit services, as well as the audit-related and non-audit services that are expected to exceed the amounts stated above, must be approved in advance of provision of the service by formal resolution of the Audit Committee. At the regularly scheduled Audit Committee meetings, the Committee reviews a report summarizing the services, including fees, provided by the Auditor.
(e)(2) Services approved pursuant to paragraph (c) (7) (i) (C) of Rule 2-01 of Regulation S-X:
Audit-Related Fees, Tax Fees and All Other Fees:
There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception under Rule 2-01 of Regulation S-X.
(f)According to the registrant's principal accountant, for the fiscal year ended August 31, 2023, the percentage of hours spent on the audit of the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons who were not full-time, permanent employees of principal accountant was less than 50%.
(g)The aggregate non-audit fees billed by the registrant's principal accountant for non-audit services rendered to the registrant and rendered to the registrant's control affiliates were $1,418,917 for the fiscal year ended August 31, 2023 and $789,217 for the fiscal year ended August 31, 2022.
(h)The audit committee of the registrant has considered the non-audit services provided by the registrant's principal accountant to the control affiliates and has determined that the services that were not pre-approved are compatible with maintaining the principal accountant's independence.
(i)Not applicable
(j)Not applicable
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS
The registrant has a separately-designated standing audit committee comprised of independent trustees. The members of the audit committee are as follows:
Frances G. Rathke – Chairperson
William H. Cunningham
Hassell H. McClellan – Member of the Audit Committee as of September 26, 2023 Patricia Lizarraga – effective September 20, 2022 to September 21, 2023
ITEM 6. SCHEDULE OF INVESTMENTS.
(a)Not Applicable
(b)Not Applicable
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not Applicable
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not Applicable
ITEM 9. PURCHASE OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANIES AND AFFILIATED PURCHASERS.
Not Applicable
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
The registrant has adopted procedures by which shareholders may recommend nominees to the registrant's Board of Trustees. A copy of the procedures is filed as an exhibit to this Form N-CSR. See attached "John Hancock Funds – Nominating and Governance Committee Charter".
ITEM 11. CONTROLS AND PROCEDURES.
(a)Based upon their evaluation of the registrant's disclosure controls and procedures as conducted within
90 days of the filing date of this Form N-CSR, the registrant's principal executive officer and principal financial officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.
(b)There were no changes in the registrant's internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable
ITEM 13. EXHIBITS.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
JOHN HANCOCK FUNDS II
/s/ Kristie M. Feinberg
_______________________
Kristie M. Feinberg
President
Date: October 30, 2023
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
/s/ Kristie M. Feinberg
_______________________
Kristie M. Feinberg
President
Date: October 30, 2023
/s/ Charles A. Rizzo
_______________________
Charles A. Rizzo
Chief Financial Officer
Date: October 30, 2023