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 number811- 0560
John Hancock Investment Trust
(Exact name of registrant as specified in charter)
200 Berkeley Street, Boston, Massachusetts 02116
(Address of principal executive offices) (Zip code)
Salvatore Schiavone
Treasurer
200 Berkeley Street
Boston, Massachusetts 02116
(Name and address of agent for service)
Date of fiscal year end: | October 31 |
| |
Date of reporting period: | April 30, 2020 |
ITEM 1. REPORTS TO STOCKHOLDERS.
John Hancock
Fundamental Large Cap Core Fund
Semiannual report 4/30/2020
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the fund's shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change, and you do not need to take any action. You may elect to receive shareholder reports and other communications electronically by calling John Hancock Investment Management at 800-225-5291 (Class A, Class B and Class C shares) or 888-972-8696 (Class I, Class R1, Class R2, Class R3, Class R4, Class R5, and Class R6 shares) or by contacting your financial intermediary.
You may elect to receive all reports in paper, free of charge, at any time. You can inform John Hancock Investment Management or your financial intermediary that you wish to continue receiving paper copies of your shareholder reports by following the instructions listed above. Your election to receive reports in paper will apply to all funds held with John Hancock Investment Management or your financial intermediary.
A message to shareholders
Dear shareholder,
The U.S. financial markets were on pace to deliver strong returns during the 6 months ended April 30, 2020, until heightened fears over the coronavirus (COVID-19) sent markets tumbling during the latter half of February and early March.
In response to the sell-off, the U.S. Federal Reserve acted quickly with a broad array of actions to limit the economic damage from the pandemic, including up to $2.3 trillion in lending to support households, employers, financial markets, and state and local governments. These steps, along with the passage of an estimated $2 trillion federal economic stimulus bill, helped lift the markets during the final month of the period.
The continued spread of COVID-19, trade disputes, rising unemployment, and other geopolitical tensions may continue to create uncertainty among businesses and investors. Your financial professional can helpposition your portfolio so that it's sufficiently diversified to seek to meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I'd like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you've placed in us.
Sincerely,
Andrew G. Arnott
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO's views as of this report's period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
Fundamental Large Cap Core Fund
INVESTMENT OBJECTIVE
The fund seeks long-term capital appreciation.
AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2020 (%)
The S&P 500 Index is an unmanaged index that includes 500 widely traded common stocks.
It is not possible to invest directly in an index. Index figures do not reflect expenses and sales charges, which would result in lower returns.
Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus. The fund recently experienced negative short-term performance due to market volatility associated with the COVID-19 pandemic.
SECTOR COMPOSITION AS OF 4/30/2020 (%)
TOP 10 HOLDINGS AS OF 4/30/2020 (%)
Amazon.com, Inc. | 8.6 |
Apple, Inc. | 7.2 |
Facebook, Inc., Class A | 5.4 |
Alphabet, Inc., Class A | 4.9 |
Lennar Corp., A Shares | 4.4 |
Cheniere Energy, Inc. | 4.3 |
Anheuser-Busch InBev SA, ADR | 4.1 |
Morgan Stanley | 3.4 |
Bank of America Corp. | 3.2 |
Workday, Inc., Class A | 3.1 |
TOTAL | 48.6 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
A note about risks
The fund may be subject to various risks as described in the fund's prospectus. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange trading suspensions and closures, impact the ability to complete redemptions, and affect fund performance. For example, the novel coronavirus disease (COVID-19) has resulted in significant disruptions to global business activity. The impact of a health crisis and other epidemics and pandemics that may arise in the future, could affect the global economy in ways that cannot necessarily be foreseen at the present time. A health crisis may exacerbate other pre-existing political, social, and economic risks. Any such impact could adversely affect the funds' performance, resulting in losses to your investment. For more information, please refer to the "Principal risks" section of the prospectus.
TOTAL RETURNS FOR THE PERIOD ENDED APRIL 30, 2020
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | ||||||
1-year | 5-year | 10-year | 6-month | 5-year | 10-year | ||
Class A | -8.37 | 5.73 | 8.58 | -9.68 | 32.11 | 127.81 | |
Class B | -9.08 | 5.70 | 8.49 | -10.03 | 31.92 | 125.82 | |
Class C | -5.26 | 6.02 | 8.32 | -6.24 | 33.93 | 122.36 | |
Class I1 | -3.33 | 7.09 | 9.45 | -4.81 | 40.82 | 146.76 | |
Class R11 | -3.92 | 6.41 | 8.75 | -5.11 | 36.40 | 131.28 | |
Class R21,2 | -3.70 | 6.67 | 9.06 | -5.00 | 38.08 | 138.07 | |
Class R31 | -3.80 | 6.53 | 8.85 | -5.04 | 37.19 | 133.46 | |
Class R41 | -3.45 | 6.93 | 9.25 | -4.88 | 39.80 | 142.13 | |
Class R51 | -3.25 | 7.15 | 9.49 | -4.79 | 41.22 | 147.61 | |
Class R61,2 | -3.21 | 7.21 | 9.50 | -4.75 | 41.63 | 147.73 | |
Class NAV1,2 | -3.20 | 7.07 | 9.27 | -4.74 | 40.70 | 142.64 | |
Index† | 0.86 | 9.12 | 11.69 | -3.16 | 54.74 | 202.21 |
Performance figures assume all distributions have been reinvested. Figures reflect maximum sales charges on Class A shares of 5% and the applicable contingent deferred sales charge (CDSC) on Class B and Class C shares. The Class B shares' CDSC declines annually between years 1 to 6 according to the following schedule: 5%, 4%, 3%, 3%, 2%, 1%. No sales charge will be assessed after the sixth year. Class C shares sold within one year of purchase are subject to a 1% CDSC. Sales charges are not applicable to Class I, Class R1, Class R2, Class R3, Class R4, Class R5, Class R6, and Class NAV shares.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectuses for the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until February 28, 2021, and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Class A | Class B | Class C | Class I | Class R1 | Class R2 | Class R3 | Class R4 | Class R5 | Class R6 | Class NAV | ||
Gross (%) | 1.03 | 1.78 | 1.78 | 0.78 | 1.43 | 1.18 | 1.33 | 1.03 | 0.73 | 0.68 | 0.67 | |
Net (%) | 1.02 | 1.77 | 1.77 | 0.77 | 1.42 | 1.17 | 1.32 | 0.92 | 0.72 | 0.67 | 0.66 |
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.
The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.
The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.
† | Index is the S&P 500 Index. |
See the following page for footnotes.
This chart and table show what happened to a hypothetical $10,000 investment in John Hancock Fundamental Large Cap Core Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in the S&P 500 Index.
Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class B3 | 4-30-10 | 22,582 | 22,582 | 30,221 |
Class C3 | 4-30-10 | 22,236 | 22,236 | 30,221 |
Class I1 | 4-30-10 | 24,676 | 24,676 | 30,221 |
Class R11 | 4-30-10 | 23,128 | 23,128 | 30,221 |
Class R21,2 | 4-30-10 | 23,807 | 23,807 | 30,221 |
Class R31 | 4-30-10 | 23,346 | 23,346 | 30,221 |
Class R41 | 4-30-10 | 24,213 | 24,213 | 30,221 |
Class R51 | 4-30-10 | 24,761 | 24,761 | 30,221 |
Class R61,2 | 4-30-10 | 24,773 | 24,773 | 30,221 |
Class NAV1,2 | 4-30-10 | 24,264 | 24,264 | 30,221 |
The S&P 500 Index is an unmanaged index that includes 500 widely traded common stocks.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Footnotes related to performance pages
1 | For certain types of investors, as described in the fund's prospectuses. |
2 | Class R2 shares were first offered on 3-1-12; Class R6 shares were first offered on 9-1-11; Class NAV shares were first offered on 2-8-17. Returns prior to these dates are those of Class A shares that have not been adjusted for class-specific expenses; otherwise, returns would vary. |
3 | The contingent deferred sales charge is not applicable. |
Your expenses |
SEMIANNUAL REPORT | JOHN HANCOCK FUNDAMENTAL LARGE CAP CORE FUND | 6 |
Account value on 11-1-2019 | Ending value on 4-30-2020 | Expenses paid during period ended 4-30-20201 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $950.70 | $5.00 | 1.03% |
Hypothetical example | 1,000.00 | 1,019.70 | 5.17 | 1.03% | |
Class B | Actual expenses/actual returns | 1,000.00 | 947.10 | 8.62 | 1.78% |
Hypothetical example | 1,000.00 | 1,016.00 | 8.92 | 1.78% | |
Class C | Actual expenses/actual returns | 1,000.00 | 947.10 | 8.62 | 1.78% |
Hypothetical example | 1,000.00 | 1,016.00 | 8.92 | 1.78% | |
Class I | Actual expenses/actual returns | 1,000.00 | 951.90 | 3.79 | 0.78% |
Hypothetical example | 1,000.00 | 1,021.00 | 3.92 | 0.78% | |
Class R1 | Actual expenses/actual returns | 1,000.00 | 948.90 | 6.69 | 1.38% |
Hypothetical example | 1,000.00 | 1,018.00 | 6.92 | 1.38% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 950.00 | 5.67 | 1.17% |
Hypothetical example | 1,000.00 | 1,019.00 | 5.87 | 1.17% | |
Class R3 | Actual expenses/actual returns | 1,000.00 | 949.60 | 6.11 | 1.26% |
Hypothetical example | 1,000.00 | 1,018.60 | 6.32 | 1.26% | |
Class R4 | Actual expenses/actual returns | 1,000.00 | 951.20 | 4.46 | 0.92% |
Hypothetical example | 1,000.00 | 1,020.30 | 4.62 | 0.92% | |
Class R5 | Actual expenses/actual returns | 1,000.00 | 952.10 | 3.49 | 0.72% |
Hypothetical example | 1,000.00 | 1,021.30 | 3.62 | 0.72% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 952.50 | 3.25 | 0.67% |
Hypothetical example | 1,000.00 | 1,021.50 | 3.37 | 0.67% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 952.60 | 3.20 | 0.66% |
Hypothetical example | 1,000.00 | 1,021.60 | 3.32 | 0.66% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period). |
7 | JOHN HANCOCK FUNDAMENTAL LARGE CAP CORE FUND | SEMIANNUAL REPORT |
Fund’s investments |
Shares | Value | ||||
Common stocks 98.6% | $4,484,731,670 | ||||
(Cost $3,369,724,427) | |||||
Communication services 18.4% | 838,497,791 | ||||
Entertainment 3.9% | |||||
Liberty Media Corp.-Liberty Formula One, Series C (A) | 3,712,673 | 119,510,944 | |||
The Walt Disney Company | 529,593 | 57,275,483 | |||
Interactive media and services 11.4% | |||||
Alphabet, Inc., Class A (A) | 165,884 | 223,395,983 | |||
CarGurus, Inc. (A) | 2,121,987 | 48,551,063 | |||
Facebook, Inc., Class A (A) | 1,201,520 | 245,963,159 | |||
Media 3.1% | |||||
Comcast Corp., Class A | 1,451,961 | 54,637,292 | |||
Fox Corp., Class A | 7,355 | 190,274 | |||
Fox Corp., Class B | 3,480,970 | 88,973,593 | |||
Consumer discretionary 17.4% | 791,630,878 | ||||
Household durables 5.8% | |||||
Lennar Corp., A Shares | 3,952,032 | 197,878,242 | |||
Tempur Sealy International, Inc. (A) | 1,230,723 | 66,151,361 | |||
Internet and direct marketing retail 8.6% | |||||
Amazon.com, Inc. (A) | 157,454 | 389,541,196 | |||
Leisure products 1.2% | |||||
Polaris, Inc. | 809,021 | 57,383,860 | |||
Specialty retail 1.2% | |||||
CarMax, Inc. (A) | 738,913 | 54,420,942 | |||
Textiles, apparel and luxury goods 0.6% | |||||
Ralph Lauren Corp. | 355,859 | 26,255,277 | |||
Consumer staples 6.4% | 291,288,320 | ||||
Beverages 4.7% | |||||
Anheuser-Busch InBev SA, ADR | 3,966,059 | 184,501,065 | |||
Diageo PLC, ADR | 200,488 | 27,797,661 | |||
Food products 1.7% | |||||
Danone SA | 1,133,328 | 78,989,594 | |||
Energy 5.5% | 247,886,126 | ||||
Energy equipment and services 1.2% | |||||
Baker Hughes Company | 3,724,493 | 51,956,677 | |||
Oil, gas and consumable fuels 4.3% | |||||
Cheniere Energy, Inc. (A) | 4,196,390 | 195,929,449 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK FUNDAMENTAL LARGE CAP CORE FUND | 8 |
Shares | Value | ||||
Financials 18.0% | $816,663,621 | ||||
Banks 8.8% | |||||
Bank of America Corp. | 6,046,424 | 145,416,497 | |||
Citigroup, Inc. | 2,331,543 | 113,219,728 | |||
First Republic Bank | 22,521 | 2,348,715 | |||
JPMorgan Chase & Co. | 1,042,719 | 99,850,771 | |||
Wells Fargo & Company | 1,343,215 | 39,020,396 | |||
Capital markets 7.1% | |||||
Morgan Stanley | 3,874,960 | 152,789,673 | |||
State Street Corp. | 1,062,179 | 66,959,764 | |||
The Goldman Sachs Group, Inc. | 567,773 | 104,140,924 | |||
Consumer finance 2.1% | |||||
American Express Company | 730,452 | 66,653,745 | |||
Synchrony Financial | 1,327,105 | 26,263,408 | |||
Health care 6.7% | 307,006,967 | ||||
Biotechnology 1.2% | |||||
Alnylam Pharmaceuticals, Inc. (A) | 417,339 | 54,963,546 | |||
Health care equipment and supplies 1.4% | |||||
Danaher Corp. | 395,888 | 64,711,852 | |||
Health care providers and services 3.1% | |||||
UnitedHealth Group, Inc. | 482,848 | 141,218,555 | |||
Pharmaceuticals 1.0% | |||||
Bristol-Myers Squibb Company | 758,313 | 46,113,014 | |||
Industrials 4.6% | 210,777,392 | ||||
Aerospace and defense 1.8% | |||||
General Dynamics Corp. | 458,484 | 59,887,180 | |||
Raytheon Technologies Corp. | 340,292 | 22,054,325 | |||
Building products 0.1% | |||||
Carrier Global Corp. (A) | 340,292 | 6,026,571 | |||
Machinery 1.0% | |||||
Caterpillar, Inc. | 310,247 | 36,106,546 | |||
Otis Worldwide Corp. (A) | 170,146 | 8,662,133 | |||
Road and rail 1.7% | |||||
Union Pacific Corp. | 488,395 | 78,040,637 | |||
Information technology 18.4% | 835,435,765 | ||||
IT services 1.4% | |||||
Visa, Inc., Class A | 339,956 | 60,756,936 | |||
Semiconductors and semiconductor equipment 3.7% | |||||
Analog Devices, Inc. | 451,972 | 49,536,131 | |||
Broadcom, Inc. | 97,580 | 26,504,680 | |||
Intel Corp. | 735,556 | 44,118,649 |
9 | JOHN HANCOCK FUNDAMENTAL LARGE CAP CORE FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Information technology (continued) | |||||
Semiconductors and semiconductor equipment (continued) | |||||
KLA Corp. | 293,280 | $48,124,315 | |||
Software 6.1% | |||||
Microsoft Corp. | 751,180 | 134,618,968 | |||
Workday, Inc., Class A (A) | 929,832 | 143,101,145 | |||
Technology hardware, storage and peripherals 7.2% | |||||
Apple, Inc. | 1,118,703 | 328,674,941 | |||
Materials 0.8% | 35,827,762 | ||||
Chemicals 0.8% | |||||
LyondellBasell Industries NV, Class A | 618,253 | 35,827,762 | |||
Real estate 2.4% | 109,717,048 | ||||
Equity real estate investment trusts 2.4% | |||||
American Tower Corp. | 460,996 | 109,717,048 | |||
Par value^ | Value | ||||
Short-term investments 0.2% | $7,688,000 | ||||
(Cost $7,688,000) | |||||
Repurchase agreement 0.2% | 7,688,000 | ||||
Repurchase Agreement with State Street Corp. dated 4-30-20 at 0.000% to be repurchased at $7,688,000 on 5-1-20, collateralized by $7,560,000 U.S. Treasury Notes, 2.625% due 6-15-20 (valued at $7,842,283) | 7,688,000 | 7,688,000 |
Total investments (Cost $3,377,412,427) 98.8% | $4,492,419,670 | ||||
Other assets and liabilities, net 1.2% | 55,978,767 | ||||
Total net assets 100.0% | $4,548,398,437 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
^All par values are denominated in U.S. dollars unless otherwise indicated. | |
Security Abbreviations and Legend | |
ADR | American Depositary Receipt |
(A) | Non-income producing security. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK FUNDAMENTAL LARGE CAP CORE FUND | 10 |
Financial statements |
Assets | |
Unaffiliated investments, at value (Cost $3,377,412,427) | $4,492,419,670 |
Cash | 50 |
Dividends receivable | 3,780,988 |
Receivable for fund shares sold | 2,754,027 |
Receivable for investments sold | 61,715,335 |
Other assets | 208,877 |
Total assets | 4,560,878,947 |
Liabilities | |
Payable for investments purchased | 583 |
Payable for fund shares repurchased | 9,193,697 |
Payable to affiliates | |
Investment management fees | 2,126,332 |
Accounting and legal services fees | 224,995 |
Transfer agent fees | 219,063 |
Distribution and service fees | 339,359 |
Trustees' fees | 7,804 |
Other liabilities and accrued expenses | 368,677 |
Total liabilities | 12,480,510 |
Net assets | $4,548,398,437 |
Net assets consist of | |
Paid-in capital | $3,713,154,051 |
Total distributable earnings (loss) | 835,244,386 |
Net assets | $4,548,398,437 |
11 | JOHN HANCOCK Fundamental Large Cap Core Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Net asset value per share | |
Based on net asset value and shares outstanding - the fund has an unlimited number of shares authorized with no par value | |
Class A ($1,390,959,683 ÷ 31,623,561 shares)1 | $43.98 |
Class B ($4,166,473 ÷ 108,802 shares)1 | $38.29 |
Class C ($98,050,106 ÷ 2,561,154 shares)1 | $38.28 |
Class I ($734,181,008 ÷ 15,891,071 shares) | $46.20 |
Class R1 ($5,103,325 ÷ 112,431 shares) | $45.39 |
Class R2 ($1,477,100 ÷ 32,098 shares) | $46.02 |
Class R3 ($1,439,646 ÷ 31,574 shares) | $45.60 |
Class R4 ($1,294,462 ÷ 28,168 shares) | $45.96 |
Class R5 ($440,756 ÷ 9,518 shares) | $46.31 |
Class R6 ($361,503,773 ÷ 7,803,644 shares) | $46.32 |
Class NAV ($1,949,782,105 ÷ 42,106,984 shares) | $46.31 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $46.29 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Fundamental Large Cap Core Fund | 12 |
Investment income | |
Dividends | $36,093,916 |
Interest | 403,356 |
Less foreign taxes withheld | (265,623) |
Total investment income | 36,231,649 |
Expenses | |
Investment management fees | 15,069,622 |
Distribution and service fees | 2,516,939 |
Accounting and legal services fees | 431,098 |
Transfer agent fees | 1,539,208 |
Trustees' fees | 43,411 |
Custodian fees | 294,310 |
State registration fees | 87,173 |
Printing and postage | 99,203 |
Professional fees | 69,506 |
Other | 142,741 |
Total expenses | 20,293,211 |
Less expense reductions | (180,095) |
Net expenses | 20,113,116 |
Net investment income | 16,118,533 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | 113,277,862 |
113,277,862 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | (353,943,016) |
(353,943,016) | |
Net realized and unrealized loss | (240,665,154) |
Decrease in net assets from operations | $(224,546,621) |
13 | JOHN HANCOCK Fundamental Large Cap Core Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Six months ended 4-30-20 (unaudited) | Year ended 10-31-19 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $16,118,533 | $36,635,492 |
Net realized gain (loss) | 113,277,862 | (374,099,003) |
Change in net unrealized appreciation (depreciation) | (353,943,016) | 954,775,662 |
Increase (decrease) in net assets resulting from operations | (224,546,621) | 617,312,151 |
Distributions to shareholders | ||
From earnings | ||
Class A | (8,690,955) | (166,593,801) |
Class B | — | (1,625,686) |
Class C | — | (21,796,903) |
Class I | (6,159,077) | (87,511,921) |
Class R1 | (9,734) | (794,580) |
Class R2 | (6,332) | (176,373) |
Class R3 | (6,419) | (333,868) |
Class R4 | (8,394) | (140,309) |
Class R5 | (3,983) | (48,849) |
Class R6 | (3,343,608) | (61,032,548) |
Class NAV | (18,467,276) | (197,840,192) |
Total distributions | (36,695,778) | (537,895,030) |
From fund share transactions | (319,285,418) | (157,801,460) |
Total decrease | (580,527,817) | (78,384,339) |
Net assets | ||
Beginning of period | 5,128,926,254 | 5,207,310,593 |
End of period | $4,548,398,437 | $5,128,926,254 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Fundamental Large Cap Core Fund | 14 |
Financial highlights |
CLASS A SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $46.52 | $46.66 | $51.87 | $42.42 | $42.89 | $39.44 |
Net investment income2 | 0.10 | 0.24 | 0.16 | 0.24 | 0.23 | 0.16 |
Net realized and unrealized gain (loss) on investments | (2.38) | 4.82 | (1.10) | 10.71 | (0.07) | 3.42 |
Total from investment operations | (2.28) | 5.06 | (0.94) | 10.95 | 0.16 | 3.58 |
Less distributions | ||||||
From net investment income | (0.26) | (0.13) | (0.26) | (0.19) | (0.12) | (0.13) |
From net realized gain | — | (5.07) | (4.01) | (1.31) | (0.51) | — |
Total distributions | (0.26) | (5.20) | (4.27) | (1.50) | (0.63) | (0.13) |
Net asset value, end of period | $43.98 | $46.52 | $46.66 | $51.87 | $42.42 | $42.89 |
Total return (%)3,4 | (4.93)5 | 13.23 | (2.20) | 26.39 | 0.37 | 9.11 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $1,391 | $1,550 | $1,511 | $1,620 | $1,519 | $1,629 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.046 | 1.03 | 1.03 | 1.04 | 1.06 | 1.05 |
Expenses including reductions | 1.036 | 1.02 | 1.02 | 1.04 | 1.05 | 1.04 |
Net investment income | 0.456 | 0.56 | 0.32 | 0.51 | 0.57 | 0.40 |
Portfolio turnover (%) | 14 | 297 | 477 | 547 | 208 | 22 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Does not reflect the effect of sales charges, if any. |
5 | Not annualized. |
6 | Annualized. |
7 | Excludes in-kind transactions. |
8 | Excludes merger activity. |
15 | JOHN HANCOCK Fundamental Large Cap Core Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS B SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $40.43 | $41.42 | $46.58 | $38.34 | $38.99 | $36.01 |
Net investment loss2 | (0.06) | (0.06) | (0.18) | (0.09) | (0.06) | (0.13) |
Net realized and unrealized gain (loss) on investments | (2.08) | 4.14 | (0.97) | 9.64 | (0.08) | 3.11 |
Total from investment operations | (2.14) | 4.08 | (1.15) | 9.55 | (0.14) | 2.98 |
Less distributions | ||||||
From net realized gain | — | (5.07) | (4.01) | (1.31) | (0.51) | — |
Net asset value, end of period | $38.29 | $40.43 | $41.42 | $46.58 | $38.34 | $38.99 |
Total return (%)3,4 | (5.29)5 | 12.37 | (2.93) | 25.44 | (0.37) | 8.28 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $4 | $7 | $14 | $29 | $41 | $65 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.796 | 1.78 | 1.78 | 1.79 | 1.81 | 1.80 |
Expenses including reductions | 1.786 | 1.77 | 1.77 | 1.79 | 1.80 | 1.79 |
Net investment loss | (0.29)6 | (0.15) | (0.40) | (0.21) | (0.17) | (0.34) |
Portfolio turnover (%) | 14 | 297 | 477 | 547 | 208 | 22 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Does not reflect the effect of sales charges, if any. |
5 | Not annualized. |
6 | Annualized. |
7 | Excludes in-kind transactions. |
8 | Excludes merger activity. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Fundamental Large Cap Core Fund | 16 |
CLASS C SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $40.42 | $41.41 | $46.57 | $38.33 | $38.98 | $36.00 |
Net investment loss2 | (0.06) | (0.07) | (0.19) | (0.10) | (0.07) | (0.13) |
Net realized and unrealized gain (loss) on investments | (2.08) | 4.15 | (0.96) | 9.65 | (0.07) | 3.11 |
Total from investment operations | (2.14) | 4.08 | (1.15) | 9.55 | (0.14) | 2.98 |
Less distributions | ||||||
From net realized gain | — | (5.07) | (4.01) | (1.31) | (0.51) | — |
Net asset value, end of period | $38.28 | $40.42 | $41.41 | $46.57 | $38.33 | $38.98 |
Total return (%)3,4 | (5.29)5 | 12.38 | (2.93) | 25.44 | (0.37) | 8.28 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $98 | $127 | $184 | $303 | $290 | $314 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.796 | 1.78 | 1.78 | 1.79 | 1.81 | 1.80 |
Expenses including reductions | 1.786 | 1.77 | 1.77 | 1.79 | 1.80 | 1.79 |
Net investment loss | (0.30)6 | (0.17) | (0.42) | (0.23) | (0.18) | (0.35) |
Portfolio turnover (%) | 14 | 297 | 477 | 547 | 208 | 22 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Does not reflect the effect of sales charges, if any. |
5 | Not annualized. |
6 | Annualized. |
7 | Excludes in-kind transactions. |
8 | Excludes merger activity. |
17 | JOHN HANCOCK Fundamental Large Cap Core Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS I SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $48.89 | $48.78 | $54.05 | $44.13 | $44.58 | $40.97 |
Net investment income2 | 0.17 | 0.37 | 0.29 | 0.40 | 0.36 | 0.27 |
Net realized and unrealized gain (loss) on investments | (2.49) | 5.07 | (1.15) | 11.12 | (0.08) | 3.55 |
Total from investment operations | (2.32) | 5.44 | (0.86) | 11.52 | 0.28 | 3.82 |
Less distributions | ||||||
From net investment income | (0.37) | (0.26) | (0.40) | (0.29) | (0.22) | (0.21) |
From net realized gain | — | (5.07) | (4.01) | (1.31) | (0.51) | — |
Total distributions | (0.37) | (5.33) | (4.41) | (1.60) | (0.73) | (0.21) |
Net asset value, end of period | $46.20 | $48.89 | $48.78 | $54.05 | $44.13 | $44.58 |
Total return (%)3 | (4.81)4 | 13.51 | (1.97) | 26.73 | 0.63 | 9.40 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $734 | $819 | $846 | $985 | $1,665 | $1,789 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.795 | 0.79 | 0.79 | 0.78 | 0.79 | 0.79 |
Expenses including reductions | 0.785 | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 |
Net investment income | 0.705 | 0.81 | 0.56 | 0.82 | 0.84 | 0.65 |
Portfolio turnover (%) | 14 | 296 | 476 | 546 | 207 | 22 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
6 | Excludes in-kind transactions. |
7 | Excludes merger activity. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Fundamental Large Cap Core Fund | 18 |
CLASS R1 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $47.91 | $47.92 | $53.16 | $43.46 | $43.98 | $40.47 |
Net investment income (loss)2 | 0.02 | 0.08 | (0.03) | 0.06 | 0.07 | 0.01 |
Net realized and unrealized gain (loss) on investments | (2.46) | 4.98 | (1.13) | 10.98 | (0.08) | 3.50 |
Total from investment operations | (2.44) | 5.06 | (1.16) | 11.04 | (0.01) | 3.51 |
Less distributions | ||||||
From net investment income | (0.08) | — | (0.07) | (0.03) | — | —3 |
From net realized gain | — | (5.07) | (4.01) | (1.31) | (0.51) | — |
Total distributions | (0.08) | (5.07) | (4.08) | (1.34) | (0.51) | —3 |
Net asset value, end of period | $45.39 | $47.91 | $47.92 | $53.16 | $43.46 | $43.98 |
Total return (%)4 | (5.11)5 | 12.81 | (2.58) | 25.90 | (0.03) | 8.67 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $5 | $6 | $8 | $9 | $7 | $7 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.396 | 1.42 | 1.41 | 1.43 | 1.45 | 1.44 |
Expenses including reductions | 1.386 | 1.41 | 1.40 | 1.42 | 1.44 | 1.43 |
Net investment income (loss) | 0.096 | 0.18 | (0.07) | 0.13 | 0.18 | 0.01 |
Portfolio turnover (%) | 14 | 297 | 477 | 547 | 208 | 22 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Less than $0.005 per share. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Not annualized. |
6 | Annualized. |
7 | Excludes in-kind transactions. |
8 | Excludes merger activity. |
19 | JOHN HANCOCK Fundamental Large Cap Core Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R2 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $48.63 | $48.51 | $53.77 | $43.93 | $44.40 | $40.84 |
Net investment income2 | 0.07 | 0.19 | 0.12 | 0.18 | 0.18 | 0.11 |
Net realized and unrealized gain (loss) on investments | (2.49) | 5.06 | (1.18) | 11.10 | (0.08) | 3.53 |
Total from investment operations | (2.42) | 5.25 | (1.06) | 11.28 | 0.10 | 3.64 |
Less distributions | ||||||
From net investment income | (0.19) | (0.06) | (0.19) | (0.13) | (0.06) | (0.08) |
From net realized gain | — | (5.07) | (4.01) | (1.31) | (0.51) | — |
Total distributions | (0.19) | (5.13) | (4.20) | (1.44) | (0.57) | (0.08) |
Net asset value, end of period | $46.02 | $48.63 | $48.51 | $53.77 | $43.93 | $44.40 |
Total return (%)3 | (5.00)4 | 13.09 | (2.36) | 26.22 | 0.24 | 8.95 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $1 | $2 | $2 | $3 | $3 | $2 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.175 | 1.18 | 1.18 | 1.18 | 1.20 | 1.19 |
Expenses including reductions | 1.175 | 1.17 | 1.18 | 1.18 | 1.19 | 1.18 |
Net investment income | 0.315 | 0.41 | 0.23 | 0.36 | 0.43 | 0.25 |
Portfolio turnover (%) | 14 | 296 | 476 | 546 | 207 | 22 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
6 | Excludes in-kind transactions. |
7 | Excludes merger activity. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Fundamental Large Cap Core Fund | 20 |
CLASS R3 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $48.14 | $48.08 | $53.31 | $43.57 | $44.05 | $40.52 |
Net investment income2 | 0.05 | 0.13 | 0.04 | 0.09 | 0.12 | 0.05 |
Net realized and unrealized gain (loss) on investments | (2.46) | 5.01 | (1.14) | 11.03 | (0.08) | 3.51 |
Total from investment operations | (2.41) | 5.14 | (1.10) | 11.12 | 0.04 | 3.56 |
Less distributions | ||||||
From net investment income | (0.13) | (0.01) | (0.12) | (0.07) | (0.01) | (0.03) |
From net realized gain | — | (5.07) | (4.01) | (1.31) | (0.51) | — |
Total distributions | (0.13) | (5.08) | (4.13) | (1.38) | (0.52) | (0.03) |
Net asset value, end of period | $45.60 | $48.14 | $48.08 | $53.31 | $43.57 | $44.05 |
Total return (%)3 | (5.04)4 | 12.94 | (2.46) | 26.04 | 0.09 | 8.80 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $1 | $2 | $3 | $4 | $2 | $2 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.275 | 1.31 | 1.28 | 1.33 | 1.34 | 1.32 |
Expenses including reductions | 1.265 | 1.30 | 1.27 | 1.33 | 1.33 | 1.32 |
Net investment income | 0.225 | 0.30 | 0.08 | 0.19 | 0.28 | 0.12 |
Portfolio turnover (%) | 14 | 296 | 476 | 546 | 207 | 22 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
6 | Excludes in-kind transactions. |
7 | Excludes merger activity. |
21 | JOHN HANCOCK Fundamental Large Cap Core Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R4 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $48.61 | $48.51 | $53.76 | $43.91 | $44.37 | $40.80 |
Net investment income2 | 0.13 | 0.36 | 0.20 | 0.30 | 0.29 | 0.22 |
Net realized and unrealized gain (loss) on investments | (2.47) | 4.99 | (1.13) | 11.09 | (0.08) | 3.52 |
Total from investment operations | (2.34) | 5.35 | (0.93) | 11.39 | 0.21 | 3.74 |
Less distributions | ||||||
From net investment income | (0.31) | (0.18) | (0.31) | (0.23) | (0.16) | (0.17) |
From net realized gain | — | (5.07) | (4.01) | (1.31) | (0.51) | — |
Total distributions | (0.31) | (5.25) | (4.32) | (1.54) | (0.67) | (0.17) |
Net asset value, end of period | $45.96 | $48.61 | $48.51 | $53.76 | $43.91 | $44.37 |
Total return (%)3 | (4.88)4 | 13.35 | (2.10) | 26.53 | 0.47 | 9.21 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $1 | $1 | $4 | $3 | $2 | $3 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.035 | 1.03 | 1.03 | 1.04 | 1.04 | 1.04 |
Expenses including reductions | 0.925 | 0.92 | 0.92 | 0.93 | 0.93 | 0.93 |
Net investment income | 0.565 | 0.77 | 0.39 | 0.61 | 0.69 | 0.51 |
Portfolio turnover (%) | 14 | 296 | 476 | 546 | 207 | 22 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
6 | Excludes in-kind transactions. |
7 | Excludes merger activity. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Fundamental Large Cap Core Fund | 22 |
CLASS R5 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $49.02 | $48.89 | $54.14 | $44.20 | $44.64 | $41.03 |
Net investment income2 | 0.18 | 0.40 | 0.34 | 0.38 | 0.38 | 0.30 |
Net realized and unrealized gain (loss) on investments | (2.49) | 5.08 | (1.17) | 11.18 | (0.08) | 3.54 |
Total from investment operations | (2.31) | 5.48 | (0.83) | 11.56 | 0.30 | 3.84 |
Less distributions | ||||||
From net investment income | (0.40) | (0.28) | (0.41) | (0.31) | (0.23) | (0.23) |
From net realized gain | — | (5.07) | (4.01) | (1.31) | (0.51) | — |
Total distributions | (0.40) | (5.35) | (4.42) | (1.62) | (0.74) | (0.23) |
Net asset value, end of period | $46.31 | $49.02 | $48.89 | $54.14 | $44.20 | $44.64 |
Total return (%)3 | (4.79)4 | 13.60 | (1.92) | 26.77 | 0.68 | 9.44 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $—5 | $—5 | $—5 | $2 | $1 | $2 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.736 | 0.73 | 0.73 | 0.74 | 0.75 | 0.74 |
Expenses including reductions | 0.726 | 0.72 | 0.72 | 0.73 | 0.74 | 0.73 |
Net investment income | 0.756 | 0.86 | 0.64 | 0.77 | 0.90 | 0.71 |
Portfolio turnover (%) | 14 | 297 | 477 | 547 | 208 | 22 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Less than $500,000. |
6 | Annualized. |
7 | Excludes in-kind transactions. |
8 | Excludes merger activity. |
23 | JOHN HANCOCK Fundamental Large Cap Core Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R6 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $49.04 | $48.91 | $54.16 | $44.21 | $44.64 | $41.04 |
Net investment income2 | 0.20 | 0.45 | 0.34 | 0.28 | 0.40 | 0.31 |
Net realized and unrealized gain (loss) on investments | (2.50) | 5.05 | (1.15) | 11.31 | (0.07) | 3.55 |
Total from investment operations | (2.30) | 5.50 | (0.81) | 11.59 | 0.33 | 3.86 |
Less distributions | ||||||
From net investment income | (0.42) | (0.30) | (0.43) | (0.33) | (0.25) | (0.26) |
From net realized gain | — | (5.07) | (4.01) | (1.31) | (0.51) | — |
Total distributions | (0.42) | (5.37) | (4.44) | (1.64) | (0.76) | (0.26) |
Net asset value, end of period | $46.32 | $49.04 | $48.91 | $54.16 | $44.21 | $44.64 |
Total return (%)3 | (4.75)4 | 13.63 | (1.85) | 26.86 | 0.76 | 9.49 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $362 | $397 | $963 | $975 | $12 | $10 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.685 | 0.68 | 0.68 | 0.69 | 0.70 | 0.70 |
Expenses including reductions | 0.675 | 0.67 | 0.67 | 0.68 | 0.68 | 0.68 |
Net investment income | 0.815 | 0.96 | 0.66 | 0.57 | 0.93 | 0.74 |
Portfolio turnover (%) | 14 | 296 | 476 | 546 | 207 | 22 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
6 | Excludes in-kind transactions. |
7 | Excludes merger activity. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Fundamental Large Cap Core Fund | 24 |
CLASS NAV SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-172 |
Per share operating performance | ||||
Net asset value, beginning of period | $49.02 | $48.90 | $54.15 | $47.04 |
Net investment income3 | 0.20 | 0.42 | 0.33 | 0.35 |
Net realized and unrealized gain (loss) on investments | (2.48) | 5.07 | (1.13) | 6.76 |
Total from investment operations | (2.28) | 5.49 | (0.80) | 7.11 |
Less distributions | ||||
From net investment income | (0.43) | (0.30) | (0.44) | — |
From net realized gain | — | (5.07) | (4.01) | — |
Total distributions | (0.43) | (5.37) | (4.45) | — |
Net asset value, end of period | $46.31 | $49.02 | $48.90 | $54.15 |
Total return (%)4 | (4.74)5 | 13.65 | (1.85) | 15.115 |
Ratios and supplemental data | ||||
Net assets, end of period (in millions) | $1,950 | $2,218 | $1,671 | $1,152 |
Ratios (as a percentage of average net assets): | ||||
Expenses before reductions | 0.666 | 0.67 | 0.67 | 0.686 |
Expenses including reductions | 0.666 | 0.66 | 0.66 | 0.676 |
Net investment income | 0.826 | 0.91 | 0.64 | 0.946 |
Portfolio turnover (%) | 14 | 297 | 477 | 547,8 |
1 | Six months ended 4-30-20. Unaudited. |
2 | The inception date for Class NAV shares is 2-8-17. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Not annualized. |
6 | Annualized. |
7 | Excludes in-kind transactions. |
8 | The portfolio turnover is shown for the period from 11-1-16 to 10-31-17. |
25 | JOHN HANCOCK Fundamental Large Cap Core Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Notes to financial statements (unaudited) |
SEMIANNUAL REPORT | JOHN HANCOCK Fundamental Large Cap Core Fund | 26 |
Total value at 4-30-20 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Communication services | $838,497,791 | $838,497,791 | — | — |
Consumer discretionary | 791,630,878 | 791,630,878 | — | — |
Consumer staples | 291,288,320 | 212,298,726 | $78,989,594 | — |
Energy | 247,886,126 | 247,886,126 | — | — |
Financials | 816,663,621 | 816,663,621 | — | — |
Health care | 307,006,967 | 307,006,967 | — | — |
Industrials | 210,777,392 | 210,777,392 | — | — |
Information technology | 835,435,765 | 835,435,765 | — | — |
Materials | 35,827,762 | 35,827,762 | — | — |
Real estate | 109,717,048 | 109,717,048 | — | — |
Short-term investments | 7,688,000 | — | 7,688,000 | — |
Total investments in securities | $4,492,419,670 | $4,405,742,076 | $86,677,594 | — |
27 | JOHN HANCOCK Fundamental Large Cap Core Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Fundamental Large Cap Core Fund | 28 |
29 | JOHN HANCOCK Fundamental Large Cap Core Fund | SEMIANNUAL REPORT |
Class | Expense reduction |
Class A | $54,324 |
Class B | 209 |
Class C | 4,148 |
Class I | 31,177 |
Class R1 | 194 |
Class R2 | 57 |
Class | Expense reduction |
Class R3 | $71 |
Class R4 | 47 |
Class R5 | 17 |
Class R6 | 13,914 |
Class NAV | 75,281 |
Total | $179,439 |
SEMIANNUAL REPORT | JOHN HANCOCK Fundamental Large Cap Core Fund | 30 |
Class | Rule 12b-1 Fee | Service fee |
Class A | 0.25% | — |
Class B | 1.00% | — |
Class C | 1.00% | — |
Class R1 | 0.50% | 0.25% |
Class R2 | 0.25% | 0.25% |
Class R3 | 0.50% | 0.15% |
Class R4 | 0.25% | 0.10% |
Class R5 | — | 0.05% |
31 | JOHN HANCOCK Fundamental Large Cap Core Fund | SEMIANNUAL REPORT |
Class | Distribution and service fees | Transfer agent fees |
Class A | $1,882,869 | $944,946 |
Class B | 28,761 | 3,604 |
Class C | 573,863 | 71,963 |
Class I | — | 492,555 |
Class R1 | 19,285 | 356 |
Class R2 | 3,947 | 105 |
Class R3 | 5,796 | 130 |
Class R4 | 2,297 | 86 |
Class R5 | 121 | 31 |
Class R6 | — | 25,432 |
Total | $2,516,939 | $1,539,208 |
Six Months Ended 4-30-20 | Year Ended 10-31-19 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 1,574,432 | $70,522,305 | 2,880,809 | $124,503,972 |
Distributions reinvested | 169,649 | 8,252,431 | 4,156,148 | 159,263,545 |
Repurchased | (3,444,333) | (149,053,870) | (6,105,918) | (263,763,987) |
Net increase (decrease) | (1,700,252) | $(70,279,134) | 931,039 | $20,003,530 |
Class B shares | ||||
Sold | 1,545 | $50,374 | 8,617 | $310,615 |
Distributions reinvested | — | — | 44,534 | 1,493,241 |
Repurchased | (62,673) | (2,427,211) | (229,391) | (8,600,688) |
Net decrease | (61,128) | $(2,376,837) | (176,240) | $(6,796,832) |
SEMIANNUAL REPORT | JOHN HANCOCK Fundamental Large Cap Core Fund | 32 |
Six Months Ended 4-30-20 | Year Ended 10-31-19 | |||
Shares | Amount | Shares | Amount | |
Class C shares | ||||
Sold | 116,580 | $4,237,016 | 346,846 | $12,426,846 |
Distributions reinvested | — | — | 533,625 | 17,887,100 |
Repurchased | (697,059) | (27,342,087) | (2,186,761) | (82,319,845) |
Net decrease | (580,479) | $(23,105,071) | (1,306,290) | $(52,005,899) |
Class I shares | ||||
Sold | 2,027,402 | $90,088,310 | 5,276,808 | $236,100,966 |
Distributions reinvested | 103,273 | 5,271,078 | 1,783,844 | 71,692,687 |
Repurchased | (2,986,217) | (140,365,732) | (7,658,620) | (343,181,695) |
Net decrease | (855,542) | $(45,006,344) | (597,968) | $(35,388,042) |
Class R1 shares | ||||
Sold | 20,353 | $928,219 | 32,949 | $1,428,331 |
Distributions reinvested | 147 | 7,374 | 12,656 | 501,180 |
Repurchased | (24,965) | (1,223,856) | (86,289) | (3,952,728) |
Net decrease | (4,465) | $(288,263) | (40,684) | $(2,023,217) |
Class R2 shares | ||||
Sold | 5,594 | $290,359 | 6,388 | $282,209 |
Distributions reinvested | 112 | 5,702 | 3,794 | 152,178 |
Repurchased | (5,326) | (260,086) | (12,712) | (590,668) |
Net increase (decrease) | 380 | $35,975 | (2,530) | $(156,281) |
Class R3 shares | ||||
Sold | 1,909 | $91,856 | 4,340 | $196,401 |
Distributions reinvested | 126 | 6,346 | 8,326 | 330,943 |
Repurchased | (21,006) | (1,073,371) | (27,411) | (1,254,708) |
Net decrease | (18,971) | $(975,169) | (14,745) | $(727,364) |
Class R4 shares | ||||
Sold | 1,813 | $83,914 | 2,468 | $114,078 |
Distributions reinvested | 165 | 8,394 | 3,507 | 140,309 |
Repurchased | (880) | (43,412) | (61,102) | (2,832,169) |
Net increase (decrease) | 1,098 | $48,896 | (55,127) | $(2,577,782) |
Class R5 shares | ||||
Sold | 737 | $36,381 | 1,314 | $60,748 |
Distributions reinvested | 78 | 3,983 | 1,213 | 48,849 |
Repurchased | (1,182) | (59,064) | (1,881) | (85,099) |
Net increase (decrease) | (367) | $(18,700) | 646 | $24,498 |
33 | JOHN HANCOCK Fundamental Large Cap Core Fund | SEMIANNUAL REPORT |
Six Months Ended 4-30-20 | Year Ended 10-31-19 | |||
Shares | Amount | Shares | Amount | |
Class R6 shares | ||||
Sold | 1,233,361 | $59,888,854 | 1,638,116 | $75,102,429 |
Distributions reinvested | 64,964 | 3,322,886 | 1,509,503 | 60,802,785 |
Repurchased | (1,586,731) | (76,775,722) | (14,751,640) | (692,851,752) |
Net decrease | (288,406) | $(13,563,982) | (11,604,021) | $(556,946,538) |
Class NAV shares | ||||
Sold | 3,282,855 | $145,766,553 | 12,849,653 | $591,980,6751 |
Distributions reinvested | 361,183 | 18,467,276 | 4,914,063 | 197,840,192 |
Repurchased | (6,775,010) | (327,990,618) | (6,699,355) | (311,028,400) |
Net increase (decrease) | (3,130,972) | $(163,756,789) | 11,064,361 | $478,792,467 |
Total net decrease | (6,639,104) | $(319,285,418) | (1,801,559) | $(157,801,460) |
1 | Includes in-kind subscriptions of approximately $66.6 million by affiliates of the fund. The cost basis of the contributed securities is equal to the market value of the securities on the date of the subscription. |
Portfolio | Affiliated Concentration |
John Hancock Variable Insurance Trust Managed Volatility Growth Portfolio | 9.1% |
John Hancock Funds II Multimanager Lifestyle Growth Portfolio | 8.0% |
John Hancock Funds II Multimanager Lifestyle Balanced Portfolio | 6.1% |
John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio | 5.8% |
SEMIANNUAL REPORT | JOHN HANCOCK Fundamental Large Cap Core Fund | 34 |
STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT
Operation of the Liquidity Risk Management Program
This section describes operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock Fundamental Large Cap Core Fund, subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Fund's subadvisor, Manulife Investment Management (US) LLC (the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.
The Committee holds monthly meetings to: (1) review the day-to-day operations of the LRMP; (2) review and approve month end liquidity classifications; (3) review quarterly testing and determinations, as applicable; and (4) review other LRMP related material. The Committee also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Committee may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity and valuation issues.
The Committee provided the Board at a meeting held on March 15-17, 2020 with a written report which addressed the Committee's assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period December 1, 2018 through December 31, 2019, included an assessment of important aspects of the LRMP including, but not limited to:
• Operation of the Fund's Redemption-In-Kind Procedures;
• Highly Liquid Investment Minimum (HLIM) determination;
• Compliance with the 15% limit on illiquid investments;
• Reasonably Anticipated Trade Size (RATS) determination;
• Security-level liquidity classifications; and
• Liquidity risk assessment.
The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee's actions to address such matters.
Redemption-In-Kind Procedures
Rule 22e-4 requires any fund that engages in or reserves the right to engage in in-kind redemptions to adopt and implement written policies and procedures regarding in-kind redemptions as part of the management of its liquidity risk. These procedures address the process for redeeming in kind, as well as the circumstances under which the Fund would consider redeeming in kind. Anticipated large redemption activity will be evaluated to identify situations where redeeming in securities instead of cash may be appropriate.
As part of its annual assessment of the LRMP, the Committee reviewed the implementation and operation of the Redemption-In-Kind Procedures and determined they are operating in a manner that such procedures are adequate and effective to manage in-kind redemptions on behalf of the Fund as part of the LRMP.
Highly Liquid Investment Minimum determination
The Committee uses an HLIM model to determine a Fund's HLIM. This process incorporates the Fund's investment strategy, historical redemptions, liquidity classification rollup percentages and cash balances, redemption policy, access to funding sources, distribution channels and client concentrations. If the Fund falls below its established HLIM for a period greater than 7 consecutive calendar days, the Committee prepares a report to the Board within one business day following the seventh consecutive calendar day with an explanation of how the Fund plans to restore its HLIM within a reasonable period of time.
Based on the HLIM model, the Committee has determined that the Fund qualifies as a Primarily Highly Liquid Fund (PHLF). It is therefore not required to establish a HLIM. The Fund is tested quarterly to confirm its PHLF status.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to HLIM and PHLF determinations, and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Compliance with the 15% limit on illiquid investments
Rule 22e-4 sets an aggregate illiquid investment limit of 15% for a fund. Funds are prohibited from acquiring an illiquid investment if this results in greater than 15% of its net assets being classified as illiquid. When applying this limit, the Committee defines "illiquid investment" to mean any investment that the Fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. If a 15% illiquid investment limit breach occurs for longer than 1 business day, the Fund is required to notify the Board and provide a plan on how to bring illiquid investments within the 15% threshold, and after 7 days confidentially notify the Securities and Exchange Commission (the SEC).
In February 2019, as a result of extended security markets closures in connection with the Chinese New Year in certain countries, the SEC released guidance, and the Committee approved and adopted an Extended Market Holiday Policy to plan for and monitor known Extended Market Holidays (defined as all expected market holiday closures spanning four or more calendar days).
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to the 15% illiquid investment limit and determined such policies and procedures are operating in a manner that is adequate and effective as part of the LMRP.
Reasonably Anticipated Trade Size determination
In order to assess the liquidity risk of a Fund, the Committee considers the impact on the Fund that redemptions of a RATS would have under both normal and reasonably foreseeable stressed conditions. Modelling the Fund's RATS requires quantifying cash flow volatility and analyzing distribution channel concentration and redemption risk. The model is designed to estimate the amount of assets that the Fund could reasonably anticipate trading on a given day, during both normal and reasonably foreseeable stressed conditions, to satisfy redemption requests.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to RATS determinations and determined that such policies and procedures are operating in a manner that is adequate and effective at making RATS determinations as part of the LRMP.
Security-level liquidity classifications
When classifying the liquidity of portfolio securities, the Fund adheres to the liquidity classification procedures established by the Advisor. In assigning a liquidity classification to Fund portfolio holdings, the following key inputs, among others, are considered: the Fund's RATS, feedback from the applicable Subadvisor on market-, trading- and investment-specific considerations, an assessment of current market conditions and fund portfolio holdings, and a value impact standard. The Subadvisor also provides position-level data to the Committee for use in monthly classification reconciliation in order to identify any classifications that may need to be changed as a result of the above considerations.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to security-level liquidity classifications and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Liquidity risk assessment
The Committee periodically reviews and assesses, the Fund's liquidity risk, including its investment strategy and liquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions (including whether the investment strategy is appropriate for an open-end fund, the extent to which the strategy involves a relatively concentrated portfolio or large positions in particular issuers, and the use of borrowings for investment purposes and derivatives), cash flow analysis during both normal and reasonably foreseeable stressed conditions, and holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.
The Committee also monitors global events, such as the COVID-19 Coronavirus, that could impact the markets and liquidity of portfolio investments and their classifications.
As part of its annual assessment of the LRMP, the Committee reviewed Fund-Level Liquidity Risk Assessment Reports for each of the Funds and determined that the investment strategy for each Fund continues to be appropriate for an open-ended structure.
Adequacy and Effectiveness
Based on the review and assessment conducted by the Committee, the Committee has determined that the LRMP has been implemented, and is operating in a manner that is adequate and effective at assessing and managing the liquidity risk of each Fund.
Trustees Hassell H. McClellan,Chairperson Officers Andrew G. Arnott Francis V. Knox, Jr. Charles A. Rizzo Salvatore Schiavone Christopher (Kit) Sechler | Investment advisor John Hancock Investment Management LLC Subadvisor Manulife Investment Management (US) LLC Portfolio Managers Emory W. (Sandy) Sanders, Jr., CFA Principal distributor John Hancock Investment Management Distributors LLC Custodian State Street Bank and Trust Company Transfer agent John Hancock Signature Services, Inc. Legal counsel K&L Gates LLP |
* Member of the Audit Committee
† Non-Independent Trustee
The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund's holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund's Form N-PORT filings are available on our website and the SEC's website, sec.gov.
We make this information on your fund, as well asmonthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
You can also contact us: | |||
800-225-5291 jhinvestments.com | Regular mail: John Hancock Signature Services, Inc. | Express mail: John Hancock Signature Services, Inc. |
John Hancock family of funds
DOMESTIC EQUITY FUNDS Blue Chip Growth Classic Value Disciplined Value Disciplined Value Mid Cap Equity Income Financial Industries Fundamental All Cap Core Fundamental Large Cap Core New Opportunities Regional Bank Small Cap Core Small Cap Growth Small Cap Value U.S. Global Leaders Growth U.S. Quality Growth GLOBAL AND INTERNATIONAL EQUITY FUNDS Disciplined Value International Emerging Markets Emerging Markets Equity Fundamental Global Franchise Global Equity Global Shareholder Yield Global Thematic Opportunities International Dynamic Growth International Growth International Small Company | INCOME FUNDS Bond California Tax-Free Income Emerging Markets Debt Floating Rate Income Government Income High Yield High Yield Municipal Bond Income Investment Grade Bond Money Market Short Duration Bond Short Duration Credit Opportunities Strategic Income Opportunities Tax-Free Bond ALTERNATIVE AND SPECIALTY FUNDS Absolute Return Currency Alternative Asset Allocation Alternative Risk Premia Diversified Macro Infrastructure Multi-Asset Absolute Return Seaport Long/Short |
A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
ASSET ALLOCATION Balanced Multi-Asset High Income Multi-Index Lifetime Portfolios Multi-Index Preservation Portfolios Multimanager Lifestyle Portfolios Multimanager Lifetime Portfolios Retirement Income 2040 EXCHANGE-TRADED FUNDS John Hancock Multifactor Consumer Discretionary ETF John Hancock Multifactor Consumer Staples ETF John Hancock Multifactor Developed International ETF John Hancock Multifactor Emerging Markets ETF John Hancock Multifactor Energy ETF John Hancock Multifactor Financials ETF John Hancock Multifactor Healthcare ETF John Hancock Multifactor Industrials ETF John Hancock Multifactor Large Cap ETF John Hancock Multifactor Materials ETF John Hancock Multifactor Media and John Hancock Multifactor Mid Cap ETF John Hancock Multifactor Small Cap ETF John Hancock Multifactor Technology ETF John Hancock Multifactor Utilities ETF | ENVIRONMENTAL, SOCIAL, AND ESG All Cap Core ESG Core Bond ESG International Equity ESG Large Cap Core CLOSED-END FUNDS Financial Opportunities Hedged Equity & Income Income Securities Trust Investors Trust Preferred Income Preferred Income II Preferred Income III Premium Dividend Tax-Advantaged Dividend Income Tax-Advantaged Global Shareholder Yield |
John Hancock Multifactor ETF shares are bought and sold at market price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Investment Management Distributors LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock Multifactor ETFs.
John Hancock Investment Management
A trusted brand
John Hancock Investment Management is a premier asset manager
representing one of America's most trusted brands, with a heritage of
financial stewardship dating back to 1862. Helping our shareholders
pursue their financial goals is at the core of everything we do. It's why
we support the role of professional financial advice and operate with
the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world's best
managers, along with strong risk-adjusted returns across asset classes.
John Hancock Investment Management Distributors LLC n Member FINRA, SIPC
200 Berkeley Street n Boston, MA 02116-5010 n 800-225-5291 n jhinvestments.com
This report is for the information of the shareholders of John Hancock Fundamental Large Cap Core Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF1182611 | 50SA 4/20 6/2020 |
John Hancock
Balanced Fund
Semiannual report 4/30/2020
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the fund's shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change, and you do not need to take any action. You may elect to receive shareholder reports and other communications electronically by calling John Hancock Investment Management at 800-225-5291 (Class A, Class B and Class C shares) or 888-972-8696 (Class I, Class R1, Class R2, Class R3, Class R4, Class R5 and R6 shares) or by contacting your financial intermediary.
You may elect to receive all reports in paper, free of charge, at any time. You can inform John Hancock Investment Management or your financial intermediary that you wish to continue receiving paper copies of your shareholder reports by following the instructions listed above. Your election to receive reports in paper will apply to all funds held with John Hancock Investment Management or your financial intermediary.
A message to shareholders
Dear shareholder,
Global financial markets were on pace to deliver strong returns during the 6 months ended April 30, 2020, until heightened fears over the coronavirus (COVID-19) sent markets tumbling during the latter half of February and early March.Investors reacted by exiting higher-risk assets and moving into cash, leading to a liquidity crunch in the fixed-income markets.
In response to the sell-off, governments and banks in some of the hardest hit areas throughout the world enacted policies and stimulus efforts designed to reignite their respective economies. While these measures helped lift equity and fixed-income markets in the United States during the final six weeks of the period, results were mixed in other areas of the world.
The continued spread of COVID-19, trade disputes, rising unemployment, and other geopolitical tensions may continue to create uncertainty among businesses and investors. Your financial professional can helpposition your portfolio so that it's sufficiently diversified to seek to meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I'd like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you've placed in us.
Sincerely,
Andrew G. Arnott
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO's views as of this report's period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
Balanced Fund
INVESTMENT OBJECTIVE
The fund seeks current income, long-term growth of capital and income, and preservation of capital.
AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2020 (%)
The Blended Index is 60% S&P 500 Index and 40% Bloomberg Barclays U.S. Aggregate Bond Index.
The S&P 500 Index is an unmanaged index that includes 500 widely traded common stocks.
The Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged index of dollar-denominated and nonconvertible investment-grade debt issues.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus. The fund recently experienced negative short-term performance due to market volatility associated with the COVID-19 pandemic.
TOP 5 EQUITY HOLDINGS AS OF 4/30/2020 (%)
Microsoft Corp. | 4.1 |
Amazon.com, Inc. | 3.8 |
Alphabet, Inc., Class A | 3.3 |
Apple, Inc. | 2.5 |
Walmart, Inc. | 2.1 |
TOTAL | 15.8 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
TOP 5 BOND ISSUERS AS OF 4/30/2020 (%)
U.S. Treasury | 6.3 |
Federal National Mortgage Association | 5.7 |
Federal Home Loan Mortgage Corp. | 5.3 |
Charter Communication Operating LLC | 0.4 |
JPMorgan Chase & Co. | 0.4 |
TOTAL | 18.1 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
A note about risks
The fund may be subject to various risks as described in the fund's prospectus. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange trading suspensions and closures, impact the ability to complete redemptions, and affect fund performance. For example, the novel coronavirus disease (COVID-19) has resulted in significant disruptions to global business activity. The impact of a health crisis and other epidemics and pandemics that may arise in the future, could affect the global economy in ways that cannot necessarily be foreseen at the present time. A health crisis may exacerbate other pre-existing political, social, and economic risks. Any such impact could adversely affect the funds' performance, resulting in losses to your investment. For more information, please refer to the "Principal risks" section of the prospectus.
TOTAL RETURNS FOR THE PERIOD ENDED APRIL 30, 2020
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | SEC 30-day yield (%) subsidized | SEC 30-day yield (%) unsubsidized1 | ||||||||
1-year | 5-year | 10-year | 6-month | 5-year | 10-year | as of 4-30-20 | as of 4-30-20 | ||||
Class A | -1.05 | 4.71 | 7.01 | -4.05 | 25.88 | 96.84 | 1.39 | 1.39 | |||
Class B | -2.18 | 4.61 | 6.90 | -4.87 | 25.27 | 94.92 | 0.80 | 0.80 | |||
Class C | 1.87 | 4.95 | 6.75 | -0.87 | 27.31 | 92.14 | 0.80 | 0.80 | |||
Class I2 | 3.88 | 6.00 | 7.86 | 0.56 | 33.80 | 113.11 | 1.75 | 1.75 | |||
Class R12 | 3.27 | 5.34 | 7.16 | 0.32 | 29.68 | 99.67 | 1.20 | 1.20 | |||
Class R22,3 | 3.51 | 5.58 | 7.48 | 0.45 | 31.21 | 105.74 | 1.38 | 1.37 | |||
Class R32 | 3.33 | 5.44 | 7.27 | 0.37 | 30.31 | 101.80 | 1.23 | 1.23 | |||
Class R42 | 3.75 | 5.85 | 7.66 | 0.53 | 32.90 | 109.25 | 1.63 | 1.53 | |||
Class R52 | 3.97 | 6.05 | 7.90 | 0.64 | 34.16 | 113.91 | 1.82 | 1.81 | |||
Class R62,3 | 4.03 | 6.12 | 7.90 | 0.67 | 34.57 | 113.87 | 1.86 | 1.86 | |||
Index 1† | 0.86 | 9.12 | 11.69 | -3.16 | 54.74 | 202.21 | — | — | |||
Index 2† | 10.84 | 3.80 | 3.96 | 4.86 | 20.49 | 47.46 | — | — | |||
Index 3† | 5.41 | 7.26 | 8.81 | 0.45 | 41.94 | 132.71 | — | — |
Performance figures assume all distributions have been reinvested. Figures reflect maximum sales charges on Class A shares of 4.5% and the applicable contingent deferred sales charge (CDSC) on Class B and Class C shares. The returns for Class A shares have been adjusted to reflect the reduction in the maximum sales charge from 5.0% to 4.5%, effective 8-1-19.The Class B shares' CDSC declines annually between years 1 to 6 according to the following schedule: 5%, 4%, 3%, 3%, 2%, 1%. No sales charge will be assessed after the sixth year. Class C shares sold within one year of purchase are subject to a 1% CDSC. Sales charges are not applicable to Class I, Class R1, Class R2, Class R3, Class R4, Class R5, and Class R6 shares.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until February 28, 2021 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Class A | Class B | Class C | Class I | Class R1 | Class R2 | Class R3 | Class R4 | Class R5 | Class R6 | |
Gross (%) | 1.08 | 1.78 | 1.78 | 0.78 | 1.43 | 1.18 | 1.33 | 1.03 | 0.73 | 0.68 |
Net (%) | 1.07 | 1.77 | 1.77 | 0.77 | 1.42 | 1.17 | 1.32 | 0.92 | 0.72 | 0.67 |
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.
The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.
The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.
† | Index 1 is the S&P 500 Index; Index 2 is the Bloomberg Barclays U.S. Aggregate Bond Index; Index 3 is 60% S&P 500 Index and 40% Bloomberg Barclays U.S. Aggregate Bond Index. |
See the following page for footnotes.
This chart and table show what happened to a hypothetical $10,000 investment in John Hancock Balanced Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in a blended index and two separate indexes.
Start date | With maximum sales charge ($) | Without sales charge ($) | Index 1 ($) | Index 2 ($) | Index 3 ($) | |
Class B4 | 4-30-10 | 19,492 | 19,492 | 30,221 | 14,746 | 23,271 |
Class C4 | 4-30-10 | 19,214 | 19,214 | 30,221 | 14,746 | 23,271 |
Class I2 | 4-30-10 | 21,311 | 21,311 | 30,221 | 14,746 | 23,271 |
Class R12 | 4-30-10 | 19,967 | 19,967 | 30,221 | 14,746 | 23,271 |
Class R22,3 | 4-30-10 | 20,574 | 20,574 | 30,221 | 14,746 | 23,271 |
Class R32 | 4-30-10 | 20,180 | 20,180 | 30,221 | 14,746 | 23,271 |
Class R42 | 4-30-10 | 20,925 | 20,925 | 30,221 | 14,746 | 23,271 |
Class R52 | 4-30-10 | 21,391 | 21,391 | 30,221 | 14,746 | 23,271 |
Class R62,3 | 4-30-10 | 21,387 | 21,387 | 30,221 | 14,746 | 23,271 |
The S&P 500 Index is an unmanaged index that includes 500 widely traded common stocks.
The Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.
The Blended Index is 60% S&P 500 Index and 40% Bloomberg Barclays U.S. Aggregate Bond Index.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Footnotes related to performance pages
1 | Unsubsidized yield reflects what the yield would have been without the effect of reimbursements and waivers. |
2 | For certain types of investors, as described in the fund's prospectus. |
3 | Class R2 shares were first offered on 3/1/12; Class R6 shares were first offered 9/1/11. Returns prior to these dates are those of Class A shares that have not been adjusted for class-specific expenses; otherwise, returns would vary. |
4 | The contingent deferred sales charge is not applicable. |
Your expenses |
SEMIANNUAL REPORT | JOHN HANCOCK BALANCED FUND | 7 |
Account value on 11-1-2019 | Ending value on 4-30-2020 | Expenses paid during period ended 4-30-20201 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $1,004.50 | $5.33 | 1.07% |
Hypothetical example | 1,000.00 | 1,019.50 | 5.37 | 1.07% | |
Class B | Actual expenses/actual returns | 1,000.00 | 1,000.70 | 8.80 | 1.77% |
Hypothetical example | 1,000.00 | 1,016.10 | 8.87 | 1.77% | |
Class C | Actual expenses/actual returns | 1,000.00 | 1,001.20 | 8.81 | 1.77% |
Hypothetical example | 1,000.00 | 1,016.10 | 8.87 | 1.77% | |
Class I | Actual expenses/actual returns | 1,000.00 | 1,005.60 | 3.84 | 0.77% |
Hypothetical example | 1,000.00 | 1,021.00 | 3.87 | 0.77% | |
Class R1 | Actual expenses/actual returns | 1,000.00 | 1,003.20 | 6.82 | 1.37% |
Hypothetical example | 1,000.00 | 1,018.10 | 6.87 | 1.37% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 1,004.50 | 5.78 | 1.16% |
Hypothetical example | 1,000.00 | 1,019.10 | 5.82 | 1.16% | |
Class R3 | Actual expenses/actual returns | 1,000.00 | 1,003.70 | 6.43 | 1.29% |
Hypothetical example | 1,000.00 | 1,018.40 | 6.47 | 1.29% | |
Class R4 | Actual expenses/actual returns | 1,000.00 | 1,005.30 | 4.54 | 0.91% |
Hypothetical example | 1,000.00 | 1,020.30 | 4.57 | 0.91% | |
Class R5 | Actual expenses/actual returns | 1,000.00 | 1,006.40 | 3.54 | 0.71% |
Hypothetical example | 1,000.00 | 1,021.30 | 3.57 | 0.71% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 1,006.70 | 3.29 | 0.66% |
Hypothetical example | 1,000.00 | 1,021.60 | 3.32 | 0.66% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period). |
8 | JOHN HANCOCK BALANCED FUND | SEMIANNUAL REPORT |
Fund’s investments |
Shares | Value | ||||
Common stocks 58.2% | $1,372,276,429 | ||||
(Cost $956,851,775) | |||||
Communication services 8.9% | 210,379,474 | ||||
Diversified telecommunication services 2.0% | |||||
Verizon Communications, Inc. | 834,302 | 47,930,650 | |||
Interactive media and services 4.8% | |||||
Alphabet, Inc., Class A (A) | 58,502 | 78,784,643 | |||
Facebook, Inc., Class A (A) | 168,463 | 34,486,061 | |||
Media 2.1% | |||||
Comcast Corp., Class A | 1,306,886 | 49,178,120 | |||
Consumer discretionary 7.6% | 179,107,609 | ||||
Internet and direct marketing retail 3.8% | |||||
Amazon.com, Inc. (A) | 36,090 | 89,286,660 | |||
Leisure products 0.3% | |||||
Hasbro, Inc. | 110,072 | 7,948,299 | |||
Multiline retail 1.6% | |||||
Dollar General Corp. | 207,959 | 36,455,213 | |||
Specialty retail 1.9% | |||||
Lowe's Companies, Inc. (B) | 304,371 | 31,882,862 | |||
Ulta Beauty, Inc. (A) | 62,108 | 13,534,575 | |||
Consumer staples 3.8% | 89,010,623 | ||||
Beverages 0.4% | |||||
Anheuser-Busch InBev SA/NV | 199,902 | 9,309,440 | |||
Food and staples retailing 2.1% | |||||
Walmart, Inc. | 405,841 | 49,329,974 | |||
Household products 1.3% | |||||
The Procter & Gamble Company | 257,667 | 30,371,209 | |||
Energy 1.8% | 43,044,344 | ||||
Energy equipment and services 0.1% | |||||
Schlumberger, Ltd. | 162,160 | 2,727,531 | |||
Oil, gas and consumable fuels 1.7% | |||||
ConocoPhillips | 269,681 | 11,353,570 | |||
Devon Energy Corp. | 423,727 | 5,283,876 | |||
Royal Dutch Shell PLC, A Shares | 357,682 | 5,888,965 | |||
Suncor Energy, Inc. | 312,435 | 5,576,965 | |||
Valero Energy Corp. | 192,793 | 12,213,437 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK BALANCED FUND | 9 |
Shares | Value | ||||
Financials 6.8% | $160,666,569 | ||||
Banks 2.8% | |||||
Citizens Financial Group, Inc. | 660,186 | 14,781,565 | |||
JPMorgan Chase & Co. | 481,591 | 46,117,154 | |||
SVB Financial Group (A) | 26,874 | 5,191,251 | |||
Capital markets 1.2% | |||||
BlackRock, Inc. | 25,075 | 12,588,653 | |||
The Goldman Sachs Group, Inc. | 85,738 | 15,726,064 | |||
Consumer finance 0.5% | |||||
Discover Financial Services | 268,337 | 11,530,441 | |||
Diversified financial services 1.9% | |||||
Berkshire Hathaway, Inc., Class B (A) | 245,599 | 46,015,429 | |||
Insurance 0.4% | |||||
Arthur J. Gallagher & Company | 111,032 | 8,716,012 | |||
Health care 10.7% | 252,055,172 | ||||
Biotechnology 1.7% | |||||
Alexion Pharmaceuticals, Inc. (A) | 141,342 | 15,190,025 | |||
Gilead Sciences, Inc. | 145,285 | 12,203,940 | |||
Incyte Corp. (A) | 123,572 | 12,068,042 | |||
Sage Therapeutics, Inc. (A) | 42,503 | 1,656,767 | |||
Health care equipment and supplies 2.5% | |||||
Abbott Laboratories | 260,485 | 23,988,064 | |||
Danaher Corp. | 155,306 | 25,386,319 | |||
Stryker Corp. | 53,772 | 10,024,714 | |||
Health care providers and services 1.2% | |||||
UnitedHealth Group, Inc. | 95,650 | 27,974,756 | |||
Life sciences tools and services 0.7% | |||||
Thermo Fisher Scientific, Inc. | 46,487 | 15,558,269 | |||
Pharmaceuticals 4.6% | |||||
AstraZeneca PLC | 126,497 | 13,230,574 | |||
Eli Lilly & Company | 153,616 | 23,755,178 | |||
Johnson & Johnson | 149,110 | 22,372,464 | |||
Merck & Company, Inc. | 438,312 | 34,775,674 | |||
Novartis AG, ADR | 163,701 | 13,870,386 | |||
Industrials 3.2% | 75,333,409 | ||||
Aerospace and defense 1.3% | |||||
Northrop Grumman Corp. | 54,575 | 18,046,315 | |||
The Boeing Company | 95,492 | 13,466,282 | |||
Industrial conglomerates 1.3% | |||||
Honeywell International, Inc. (B) | 149,528 | 21,218,023 | |||
Roper Technologies, Inc. | 24,150 | 8,235,875 |
10 | JOHN HANCOCK BALANCED FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Industrials (continued) | |||||
Machinery 0.6% | |||||
Xylem, Inc. | 199,818 | $14,366,914 | |||
Information technology 12.8% | 302,619,548 | ||||
Communications equipment 1.6% | |||||
Cisco Systems, Inc. | 912,156 | 38,657,171 | |||
IT services 2.0% | |||||
Fidelity National Information Services, Inc. | 55,474 | 7,316,466 | |||
PayPal Holdings, Inc. (A) | 320,428 | 39,412,644 | |||
Semiconductors and semiconductor equipment 2.1% | |||||
Broadcom, Inc. | 123,572 | 33,564,627 | |||
Micron Technology, Inc. (A) | 317,983 | 15,228,206 | |||
Software 4.6% | |||||
Microsoft Corp. | 534,163 | 95,727,344 | |||
SAP SE, ADR | 114,005 | 13,514,153 | |||
Technology hardware, storage and peripherals 2.5% | |||||
Apple, Inc. | 201,494 | 59,198,937 | |||
Materials 1.3% | 30,526,552 | ||||
Chemicals 0.5% | |||||
Linde PLC | 61,124 | 11,246,205 | |||
Metals and mining 0.8% | |||||
Franco-Nevada Corp. | 97,426 | 12,889,811 | |||
Lundin Mining Corp. | 740,559 | 3,628,444 | |||
Teck Resources, Ltd., Class B | 313,341 | 2,762,092 | |||
Real estate 1.3% | 29,533,129 | ||||
Equity real estate investment trusts 1.3% | |||||
American Tower Corp. | 64,262 | 15,294,356 | |||
Digital Realty Trust, Inc. | 95,249 | 14,238,773 | |||
Preferred securities 0.1% | $2,511,028 | ||||
(Cost $2,700,942) | |||||
Financials 0.0% | 813,986 | ||||
Banks 0.0% | |||||
GMAC Capital Trust I (3 month LIBOR + 5.785%), 7.477% (C) | 26,792 | 604,160 | |||
Wells Fargo & Company, Series L, 7.500% | 150 | 209,826 | |||
Information technology 0.1% | 854,650 | ||||
Semiconductors and semiconductor equipment 0.1% | |||||
Broadcom, Inc., 8.000% | 840 | 854,650 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK BALANCED FUND | 11 |
Shares | Value | ||||
Utilities 0.0% | $842,392 | ||||
Electric utilities 0.0% | |||||
NextEra Energy, Inc., 5.279% | 14,250 | 615,458 | |||
The Southern Company, 6.750% | 1,552 | 73,472 | |||
Multi-utilities 0.0% | |||||
Dominion Energy, Inc., 7.250% | 961 | 94,399 | |||
DTE Energy Company, 6.250% | 1,413 | 59,063 | |||
Rate (%) | Maturity date | Par value^ | Value | ||
U.S. Government and Agency obligations 16.9% | $398,794,604 | ||||
(Cost $371,265,296) | |||||
U.S. Government 6.3% | 147,945,126 | ||||
U.S. Treasury | |||||
Bond | 2.250 | 08-15-49 | 23,330,000 | 28,777,008 | |
Bond | 2.375 | 11-15-49 | 7,030,000 | 8,894,048 | |
Bond | 2.750 | 11-15-42 | 12,230,000 | 15,877,980 | |
Bond | 3.000 | 02-15-47 | 5,198,000 | 7,240,042 | |
Bond | 3.125 | 11-15-41 | 19,630,000 | 26,903,068 | |
Note | 0.125 | 04-30-22 | 7,080,000 | 7,070,597 | |
Note | 0.500 | 03-31-25 | 35,633,000 | 35,875,193 | |
Note | 1.500 | 02-15-30 | 6,989,000 | 7,556,856 | |
Note | 1.625 | 09-30-26 | 4,465,000 | 4,781,562 | |
Treasury Inflation Protected Security | 0.250 | 07-15-29 | 4,666,596 | 4,968,772 | |
U.S. Government Agency 10.6% | 250,849,478 | ||||
Federal Home Loan Mortgage Corp. | |||||
15 Yr Pass Thru | 2.500 | 11-01-34 | 3,208,904 | 3,367,936 | |
15 Yr Pass Thru | 3.000 | 10-01-31 | 5,384,801 | 5,730,357 | |
30 Yr Pass Thru | 3.000 | 03-01-43 | 710,058 | 771,923 | |
30 Yr Pass Thru | 3.000 | 12-01-45 | 3,862,758 | 4,161,884 | |
30 Yr Pass Thru | 3.000 | 10-01-46 | 11,053,569 | 11,899,179 | |
30 Yr Pass Thru | 3.000 | 10-01-46 | 4,495,118 | 4,814,943 | |
30 Yr Pass Thru | 3.000 | 12-01-46 | 3,552,118 | 3,790,419 | |
30 Yr Pass Thru | 3.000 | 12-01-46 | 2,776,608 | 2,993,360 | |
30 Yr Pass Thru | 3.000 | 04-01-47 | 6,027,107 | 6,388,122 | |
30 Yr Pass Thru | 3.000 | 10-01-49 | 8,249,660 | 8,729,366 | |
30 Yr Pass Thru | 3.000 | 10-01-49 | 6,897,236 | 7,310,371 | |
30 Yr Pass Thru | 3.000 | 12-01-49 | 1,632,870 | 1,737,820 | |
30 Yr Pass Thru | 3.000 | 12-01-49 | 12,745,393 | 13,496,875 | |
30 Yr Pass Thru | 3.000 | 02-01-50 | 5,508,970 | 5,833,785 | |
30 Yr Pass Thru | 3.500 | 10-01-46 | 4,830,339 | 5,248,381 | |
30 Yr Pass Thru | 3.500 | 12-01-46 | 2,516,986 | 2,731,771 | |
30 Yr Pass Thru | 3.500 | 11-01-47 | 334,478 | 359,310 | |
30 Yr Pass Thru | 3.500 | 11-01-48 | 1,798,472 | 1,962,621 | |
30 Yr Pass Thru | 3.500 | 05-01-49 | 14,775,285 | 15,643,076 | |
30 Yr Pass Thru | 3.500 | 06-01-49 | 3,664,747 | 3,909,631 |
12 | JOHN HANCOCK BALANCED FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
U.S. Government Agency (continued) | |||||
30 Yr Pass Thru | 4.000 | 11-01-47 | 1,402,594 | $1,509,068 | |
30 Yr Pass Thru | 4.000 | 08-01-48 | 1,742,400 | 1,892,638 | |
30 Yr Pass Thru | 4.500 | 03-01-41 | 1,508,968 | 1,664,648 | |
30 Yr Pass Thru | 5.500 | 11-01-39 | 912,463 | 1,061,537 | |
Federal National Mortgage Association | |||||
15 Yr Pass Thru | 3.000 | 07-01-27 | 366,362 | 387,269 | |
15 Yr Pass Thru | 3.500 | 06-01-34 | 264,026 | 281,907 | |
30 Yr Pass Thru | 3.000 | 02-01-43 | 507,884 | 541,638 | |
30 Yr Pass Thru | 3.000 | 03-01-43 | 171,542 | 186,428 | |
30 Yr Pass Thru | 3.000 | 05-01-43 | 265,980 | 289,060 | |
30 Yr Pass Thru | 3.000 | 12-01-45 | 5,907,985 | 6,282,173 | |
30 Yr Pass Thru | 3.000 | 02-01-47 | 2,896,066 | 3,121,123 | |
30 Yr Pass Thru | 3.000 | 10-01-47 | 6,246,705 | 6,689,198 | |
30 Yr Pass Thru | 3.000 | 12-01-47 | 1,944,357 | 2,060,821 | |
30 Yr Pass Thru | 3.000 | 07-01-49 | 6,467,906 | 6,827,027 | |
30 Yr Pass Thru | 3.000 | 09-01-49 | 3,670,167 | 3,884,672 | |
30 Yr Pass Thru | 3.000 | 10-01-49 | 7,677,780 | 8,202,449 | |
30 Yr Pass Thru | 3.000 | 11-01-49 | 1,598,874 | 1,694,644 | |
30 Yr Pass Thru | 3.500 | 06-01-42 | 3,631,596 | 3,970,729 | |
30 Yr Pass Thru | 3.500 | 06-01-43 | 6,468,549 | 7,070,588 | |
30 Yr Pass Thru | 3.500 | 12-01-44 | 1,498,138 | 1,626,804 | |
30 Yr Pass Thru | 3.500 | 04-01-45 | 1,249,299 | 1,356,203 | |
30 Yr Pass Thru | 3.500 | 04-01-45 | 501,461 | 544,372 | |
30 Yr Pass Thru | 3.500 | 07-01-47 | 10,491,409 | 11,454,748 | |
30 Yr Pass Thru | 3.500 | 12-01-47 | 2,012,910 | 2,167,545 | |
30 Yr Pass Thru | 3.500 | 07-01-49 | 3,493,211 | 3,696,723 | |
30 Yr Pass Thru | 3.500 | 09-01-49 | 2,486,983 | 2,632,494 | |
30 Yr Pass Thru | 3.500 | 01-01-50 | 4,430,382 | 4,689,046 | |
30 Yr Pass Thru | 3.500 | 03-01-50 | 10,615,464 | 11,268,413 | |
30 Yr Pass Thru | 4.000 | 01-01-41 | 1,694,222 | 1,864,571 | |
30 Yr Pass Thru | 4.000 | 09-01-41 | 1,071,721 | 1,178,140 | |
30 Yr Pass Thru | 4.000 | 10-01-41 | 6,489,257 | 7,141,733 | |
30 Yr Pass Thru | 4.000 | 01-01-47 | 7,887,151 | 8,594,407 | |
30 Yr Pass Thru | 4.000 | 04-01-48 | 1,385,871 | 1,517,854 | |
30 Yr Pass Thru | 4.000 | 07-01-48 | 2,272,541 | 2,428,601 | |
30 Yr Pass Thru | 4.000 | 10-01-48 | 1,512,270 | 1,655,345 | |
30 Yr Pass Thru | 4.500 | 11-01-39 | 2,085,413 | 2,301,705 | |
30 Yr Pass Thru | 4.500 | 09-01-40 | 1,071,213 | 1,181,646 | |
30 Yr Pass Thru | 4.500 | 05-01-41 | 660,764 | 728,057 | |
30 Yr Pass Thru | 4.500 | 07-01-41 | 2,139,484 | 2,372,751 | |
30 Yr Pass Thru | 4.500 | 01-01-43 | 823,549 | 906,392 | |
30 Yr Pass Thru | 4.500 | 04-01-48 | 6,106,828 | 6,684,867 | |
30 Yr Pass Thru | 4.500 | 07-01-48 | 4,036,316 | 4,354,043 | |
30 Yr Pass Thru | 7.000 | 06-01-32 | 763 | 897 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK BALANCED FUND | 13 |
Rate (%) | Maturity date | Par value^ | Value | ||
U.S. Government Agency (continued) | |||||
30 Yr Pass Thru | 7.500 | 04-01-31 | 1,701 | $1,993 | |
30 Yr Pass Thru | 8.000 | 01-01-31 | 1,185 | 1,381 | |
Foreign government obligations 0.2% | $4,728,942 | ||||
(Cost $4,406,686) | |||||
Qatar 0.1% | 2,551,463 | ||||
State of Qatar | |||||
Bond (D) | 3.375 | 03-14-24 | 1,403,000 | 1,480,763 | |
Bond (D) | 5.103 | 04-23-48 | 860,000 | 1,070,700 | |
Saudi Arabia 0.1% | 2,177,479 | ||||
Kingdom of Saudi Arabia Bond (D) | 4.375 | 04-16-29 | 1,955,000 | 2,177,479 | |
Corporate bonds 19.0% | $446,932,132 | ||||
(Cost $455,034,093) | |||||
Communication services 2.5% | 58,498,132 | ||||
Diversified telecommunication services 0.7% | |||||
AT&T, Inc. | 3.400 | 05-15-25 | 1,920,000 | 2,035,005 | |
AT&T, Inc. | 3.800 | 02-15-27 | 871,000 | 939,586 | |
C&W Senior Financing DAC (D) | 6.875 | 09-15-27 | 800,000 | 790,000 | |
CenturyLink, Inc. (D) | 4.000 | 02-15-27 | 392,000 | 380,240 | |
Cincinnati Bell, Inc. (D) | 7.000 | 07-15-24 | 1,131,000 | 1,144,787 | |
GCI LLC (D) | 6.625 | 06-15-24 | 320,000 | 331,200 | |
GCI LLC | 6.875 | 04-15-25 | 570,000 | 588,525 | |
Level 3 Financing, Inc. (D) | 3.400 | 03-01-27 | 1,104,000 | 1,104,497 | |
Liquid Telecommunications Financing PLC (D) | 8.500 | 07-13-22 | 670,000 | 565,009 | |
Radiate Holdco LLC (D) | 6.625 | 02-15-25 | 630,000 | 623,700 | |
Telecom Argentina SA (D) | 6.500 | 06-15-21 | 680,000 | 615,407 | |
Telecom Argentina SA (D) | 8.000 | 07-18-26 | 653,000 | 525,019 | |
Telecom Italia Capital SA | 7.200 | 07-18-36 | 1,185,000 | 1,329,926 | |
Telecom Italia SpA (D) | 5.303 | 05-30-24 | 760,000 | 790,392 | |
Verizon Communications, Inc. | 3.000 | 03-22-27 | 235,000 | 254,757 | |
Verizon Communications, Inc. | 4.400 | 11-01-34 | 860,000 | 1,044,893 | |
Verizon Communications, Inc. | 4.862 | 08-21-46 | 2,385,000 | 3,217,537 | |
Entertainment 0.2% | |||||
Activision Blizzard, Inc. | 3.400 | 09-15-26 | 595,000 | 662,910 | |
Lions Gate Capital Holdings LLC (D) | 5.875 | 11-01-24 | 626,000 | 569,910 | |
Netflix, Inc. | 4.875 | 04-15-28 | 1,925,000 | 2,047,103 | |
Netflix, Inc. (D) | 4.875 | 06-15-30 | 715,000 | 765,694 | |
Netflix, Inc. (D) | 5.375 | 11-15-29 | 230,000 | 252,609 | |
Netflix, Inc. | 5.875 | 11-15-28 | 1,175,000 | 1,328,749 | |
Interactive media and services 0.1% | |||||
Match Group, Inc. (D) | 4.125 | 08-01-30 | 611,000 | 592,670 |
14 | JOHN HANCOCK BALANCED FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Communication services (continued) | |||||
Interactive media and services (continued) | |||||
National CineMedia LLC (D) | 5.875 | 04-15-28 | 355,000 | $252,050 | |
Twitter, Inc. (D) | 3.875 | 12-15-27 | 226,000 | 225,073 | |
Media 1.1% | |||||
Altice Financing SA (D) | 5.000 | 01-15-28 | 351,000 | 342,225 | |
Altice France Holding SA (D) | 10.500 | 05-15-27 | 225,000 | 242,460 | |
Charter Communications Operating LLC | 4.200 | 03-15-28 | 1,958,000 | 2,174,698 | |
Charter Communications Operating LLC | 4.800 | 03-01-50 | 1,965,000 | 2,218,930 | |
Charter Communications Operating LLC | 5.750 | 04-01-48 | 2,120,000 | 2,651,048 | |
Charter Communications Operating LLC | 6.484 | 10-23-45 | 1,875,000 | 2,443,342 | |
Comcast Corp. | 3.100 | 04-01-25 | 744,000 | 805,495 | |
Comcast Corp. | 3.999 | 11-01-49 | 265,000 | 314,578 | |
Comcast Corp. | 4.049 | 11-01-52 | 1,158,000 | 1,409,505 | |
Comcast Corp. | 4.150 | 10-15-28 | 2,787,000 | 3,250,867 | |
CSC Holdings LLC (D) | 5.375 | 02-01-28 | 360,000 | 375,858 | |
CSC Holdings LLC (D) | 5.750 | 01-15-30 | 979,000 | 1,017,854 | |
CSC Holdings LLC | 5.875 | 09-15-22 | 525,000 | 546,656 | |
CSC Holdings LLC (D) | 7.500 | 04-01-28 | 730,000 | 802,224 | |
LCPR Senior Secured Financing DAC (D) | 6.750 | 10-15-27 | 385,000 | 396,550 | |
MDC Partners, Inc. (D) | 6.500 | 05-01-24 | 1,294,000 | 1,002,850 | |
Sirius XM Radio, Inc. (D) | 5.000 | 08-01-27 | 1,657,000 | 1,694,697 | |
Sirius XM Radio, Inc. (D) | 5.375 | 07-15-26 | 889,000 | 922,338 | |
ViacomCBS, Inc. | 4.750 | 05-15-25 | 1,686,000 | 1,803,486 | |
WMG Acquisition Corp. (D) | 4.875 | 11-01-24 | 360,000 | 360,000 | |
WMG Acquisition Corp. (D) | 5.500 | 04-15-26 | 420,000 | 429,975 | |
Wireless telecommunication services 0.4% | |||||
CC Holdings GS V LLC | 3.849 | 04-15-23 | 964,000 | 1,022,693 | |
Comunicaciones Celulares SA (D) | 6.875 | 02-06-24 | 455,000 | 455,000 | |
Millicom International Cellular SA (D) | 5.125 | 01-15-28 | 200,000 | 185,500 | |
MTN Mauritius Investments, Ltd. (D) | 4.755 | 11-11-24 | 630,000 | 579,212 | |
Oztel Holdings SPC, Ltd. (D) | 6.625 | 04-24-28 | 570,000 | 483,882 | |
SoftBank Group Corp. (6.875% to 7-19-27, then 5 Year ICE Swap Rate + 4.854%) (E) | 6.875 | 07-19-27 | 1,379,000 | 1,201,109 | |
Sprint Corp. | 7.875 | 09-15-23 | 820,000 | 922,336 | |
Telefonica Celular del Paraguay SA (D) | 5.875 | 04-15-27 | 693,000 | 675,675 | |
T-Mobile USA, Inc. (D) | 3.875 | 04-15-30 | 1,643,000 | 1,797,196 | |
T-Mobile USA, Inc. (D) | 4.500 | 04-15-50 | 921,000 | 1,073,103 | |
Vodafone Group PLC (7.000% to 1-4-29, then 5 Year U.S. Swap Rate + 4.873%) | 7.000 | 04-04-79 | 1,678,000 | 1,919,542 | |
Consumer discretionary 1.7% | 39,648,607 | ||||
Auto components 0.0% | |||||
Dealer Tire LLC (D) | 8.000 | 02-01-28 | 314,000 | 234,715 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK BALANCED FUND | 15 |
Rate (%) | Maturity date | Par value^ | Value | ||
Consumer discretionary (continued) | |||||
Automobiles 0.5% | |||||
BMW US Capital LLC (D) | 2.950 | 04-14-22 | 424,000 | $429,679 | |
Daimler Finance North America LLC (D) | 2.700 | 06-14-24 | 700,000 | 674,250 | |
Daimler Finance North America LLC (D) | 3.500 | 08-03-25 | 670,000 | 663,447 | |
Daimler Finance North America LLC (D) | 3.750 | 11-05-21 | 170,000 | 171,264 | |
Ford Motor Credit Company LLC | 4.134 | 08-04-25 | 3,232,000 | 2,743,742 | |
Ford Motor Credit Company LLC | 5.875 | 08-02-21 | 2,060,000 | 2,039,400 | |
General Motors Financial Company, Inc. | 4.000 | 01-15-25 | 2,605,000 | 2,439,430 | |
General Motors Financial Company, Inc. | 4.300 | 07-13-25 | 1,130,000 | 1,060,263 | |
JB Poindexter & Company, Inc. (D) | 7.125 | 04-15-26 | 219,000 | 212,430 | |
Mclaren Finance PLC (D) | 5.750 | 08-01-22 | 185,000 | 129,371 | |
Nissan Motor Acceptance Corp. (D) | 3.450 | 03-15-23 | 725,000 | 672,651 | |
Diversified consumer services 0.1% | |||||
GEMS MENASA Cayman, Ltd. (D) | 7.125 | 07-31-26 | 280,000 | 267,400 | |
Laureate Education, Inc. (D) | 8.250 | 05-01-25 | 330,000 | 337,095 | |
Sotheby's (D) | 7.375 | 10-15-27 | 843,000 | 709,705 | |
Hotels, restaurants and leisure 0.3% | |||||
CCM Merger, Inc. (D) | 6.000 | 03-15-22 | 445,000 | 420,525 | |
Connect Finco SARL (D) | 6.750 | 10-01-26 | 1,377,000 | 1,315,035 | |
Eldorado Resorts, Inc. | 6.000 | 09-15-26 | 310,000 | 311,457 | |
Eldorado Resorts, Inc. | 7.000 | 08-01-23 | 265,000 | 254,400 | |
Hilton Domestic Operating Company, Inc. | 4.875 | 01-15-30 | 497,000 | 475,878 | |
Hilton Domestic Operating Company, Inc. (D) | 5.750 | 05-01-28 | 237,000 | 239,963 | |
International Game Technology PLC (D) | 6.500 | 02-15-25 | 570,000 | 558,594 | |
Jacobs Entertainment, Inc. (D) | 7.875 | 02-01-24 | 633,000 | 479,498 | |
Resorts World Las Vegas LLC (D) | 4.625 | 04-16-29 | 865,000 | 773,521 | |
Starbucks Corp. | 2.250 | 03-12-30 | 1,238,000 | 1,212,925 | |
Twin River Worldwide Holdings, Inc. (D) | 6.750 | 06-01-27 | 939,000 | 746,505 | |
Wyndham Destinations, Inc. (D) | 4.625 | 03-01-30 | 479,000 | 407,150 | |
Yum! Brands, Inc. (D) | 4.750 | 01-15-30 | 598,000 | 609,960 | |
Internet and direct marketing retail 0.5% | |||||
Amazon.com, Inc. | 3.150 | 08-22-27 | 2,215,000 | 2,483,650 | |
Amazon.com, Inc. | 4.050 | 08-22-47 | 1,145,000 | 1,489,338 | |
Expedia Group, Inc. | 3.250 | 02-15-30 | 1,126,000 | 945,296 | |
Expedia Group, Inc. | 3.800 | 02-15-28 | 2,185,000 | 1,893,162 | |
Expedia Group, Inc. | 5.000 | 02-15-26 | 1,794,000 | 1,715,322 | |
Prosus NV (D) | 4.850 | 07-06-27 | 250,000 | 268,301 | |
Prosus NV (D) | 5.500 | 07-21-25 | 1,085,000 | 1,189,077 | |
QVC, Inc. | 4.375 | 03-15-23 | 910,000 | 868,959 | |
QVC, Inc. | 5.125 | 07-02-22 | 580,000 | 569,850 | |
QVC, Inc. | 5.450 | 08-15-34 | 630,000 | 491,337 |
16 | JOHN HANCOCK BALANCED FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Consumer discretionary (continued) | |||||
Leisure products 0.0% | |||||
Diamond Sports Group LLC (D) | 6.625 | 08-15-27 | 930,000 | $509,175 | |
Multiline retail 0.1% | |||||
Dollar Tree, Inc. | 4.200 | 05-15-28 | 2,240,000 | 2,404,342 | |
Nordstrom, Inc. (D) | 8.750 | 05-15-25 | 125,000 | 134,129 | |
Target Corp. | 2.250 | 04-15-25 | 600,000 | 631,349 | |
Specialty retail 0.1% | |||||
Asbury Automotive Group, Inc. (D) | 4.750 | 03-01-30 | 51,000 | 42,730 | |
The TJX Companies, Inc. | 3.500 | 04-15-25 | 1,021,000 | 1,101,777 | |
The TJX Companies, Inc. | 3.875 | 04-15-30 | 1,262,000 | 1,408,216 | |
Textiles, apparel and luxury goods 0.1% | |||||
Hanesbrands, Inc. (D) | 5.375 | 05-15-25 | 323,000 | 323,000 | |
Levi Strauss & Company (D) | 5.000 | 05-01-25 | 584,000 | 589,344 | |
Consumer staples 0.5% | 12,558,371 | ||||
Beverages 0.1% | |||||
Anheuser-Busch InBev Worldwide, Inc. | 4.600 | 04-15-48 | 1,321,000 | 1,456,221 | |
Constellation Brands, Inc. | 2.875 | 05-01-30 | 422,000 | 428,465 | |
Keurig Dr Pepper, Inc. | 3.200 | 05-01-30 | 391,000 | 417,088 | |
The Coca-Cola Company | 4.200 | 03-25-50 | 825,000 | 1,051,742 | |
Food and staples retailing 0.1% | |||||
Albertsons Companies, Inc. (D) | 4.875 | 02-15-30 | 386,000 | 391,308 | |
Alimentation Couche-Tard, Inc. (D) | 2.700 | 07-26-22 | 890,000 | 894,963 | |
Dollar General Corp. | 3.500 | 04-03-30 | 765,000 | 839,149 | |
Sysco Corp. | 5.950 | 04-01-30 | 332,000 | 390,400 | |
The Kroger Company | 2.200 | 05-01-30 | 700,000 | 701,649 | |
Food products 0.2% | |||||
Cargill, Inc. (D) | 1.375 | 07-23-23 | 565,000 | 567,826 | |
Cargill, Inc. (D) | 2.125 | 04-23-30 | 555,000 | 561,475 | |
JBS Investments II GmbH (D) | 5.750 | 01-15-28 | 1,480,000 | 1,443,000 | |
Kraft Heinz Foods Company (D) | 4.875 | 02-15-25 | 695,000 | 714,505 | |
NBM US Holdings, Inc. (D) | 6.625 | 08-06-29 | 631,000 | 586,294 | |
Post Holdings, Inc. (D) | 5.500 | 12-15-29 | 434,000 | 436,170 | |
Simmons Foods, Inc. (D) | 5.750 | 11-01-24 | 510,000 | 474,300 | |
Personal products 0.1% | |||||
Natura Cosmeticos SA (D) | 5.375 | 02-01-23 | 1,010,000 | 964,560 | |
Walnut Bidco PLC (D) | 9.125 | 08-01-24 | 285,000 | 239,256 | |
Energy 1.6% | 37,431,265 | ||||
Energy equipment and services 0.1% | |||||
CSI Compressco LP | 7.250 | 08-15-22 | 1,127,000 | 357,823 | |
CSI Compressco LP (D) | 7.500 | 04-01-25 | 1,014,000 | 659,100 | |
Inkia Energy, Ltd. (D) | 5.875 | 11-09-27 | 220,000 | 206,800 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK BALANCED FUND | 17 |
Rate (%) | Maturity date | Par value^ | Value | ||
Energy (continued) | |||||
Energy equipment and services (continued) | |||||
Tervita Corp. (D) | 7.625 | 12-01-21 | 714,000 | $471,240 | |
Oil, gas and consumable fuels 1.5% | |||||
Aker BP ASA (D) | 3.000 | 01-15-25 | 690,000 | 601,739 | |
Antero Resources Corp. | 5.000 | 03-01-25 | 584,000 | 321,200 | |
Cheniere Energy Partners LP (D) | 4.500 | 10-01-29 | 1,549,000 | 1,428,953 | |
Cimarex Energy Company | 4.375 | 06-01-24 | 700,000 | 645,212 | |
Colorado Interstate Gas Company LLC (D) | 4.150 | 08-15-26 | 487,000 | 510,992 | |
DCP Midstream LP (7.375% to 12-15-22, then 3 month LIBOR + 5.148%) (E) | 7.375 | 12-15-22 | 908,000 | 347,310 | |
DCP Midstream Operating LP | 5.125 | 05-15-29 | 255,000 | 189,899 | |
DCP Midstream Operating LP (5.850% to 5-21-23, then 3 month LIBOR + 3.850%) (D) | 5.850 | 05-21-43 | 714,000 | 328,440 | |
Enbridge, Inc. (5.500% to 7-15-27, then 3 month LIBOR + 3.418%) | 5.500 | 07-15-77 | 1,025,000 | 898,423 | |
Enbridge, Inc. (6.250% to 3-1-28, then 3 month LIBOR + 3.641%) | 6.250 | 03-01-78 | 1,000,000 | 915,500 | |
Energy Transfer Operating LP | 4.200 | 04-15-27 | 494,000 | 465,978 | |
Energy Transfer Operating LP | 4.250 | 03-15-23 | 1,400,000 | 1,387,259 | |
Energy Transfer Operating LP | 5.150 | 03-15-45 | 1,055,000 | 934,589 | |
Energy Transfer Operating LP | 5.875 | 01-15-24 | 860,000 | 892,962 | |
Enterprise Products Operating LLC (5.250% to 8-16-27, then 3 month LIBOR + 3.033%) | 5.250 | 08-16-77 | 1,953,000 | 1,757,114 | |
Husky Energy, Inc. | 3.950 | 04-15-22 | 912,000 | 890,364 | |
Kinder Morgan Energy Partners LP | 7.750 | 03-15-32 | 660,000 | 844,159 | |
MPLX LP | 4.000 | 03-15-28 | 1,059,000 | 1,003,760 | |
MPLX LP (D) | 4.250 | 12-01-27 | 380,000 | 364,954 | |
MPLX LP (D) | 5.250 | 01-15-25 | 300,000 | 296,987 | |
MPLX LP (6.875% to 2-15-23, then 3 month LIBOR + 4.652%) (E) | 6.875 | 02-15-23 | 2,770,000 | 1,991,685 | |
Murphy Oil Corp. | 5.750 | 08-15-25 | 419,000 | 289,110 | |
ONEOK Partners LP | 4.900 | 03-15-25 | 370,000 | 368,234 | |
Petrobras Global Finance BV (D) | 5.093 | 01-15-30 | 2,528,000 | 2,304,272 | |
Petrobras Global Finance BV | 6.900 | 03-19-49 | 620,000 | 602,950 | |
Petroleos Mexicanos | 5.350 | 02-12-28 | 954,000 | 710,740 | |
Phillips 66 | 3.700 | 04-06-23 | 312,000 | 323,995 | |
Sabine Pass Liquefaction LLC | 4.200 | 03-15-28 | 846,000 | 826,903 | |
Sabine Pass Liquefaction LLC | 5.000 | 03-15-27 | 950,000 | 972,868 | |
Sabine Pass Liquefaction LLC | 5.875 | 06-30-26 | 1,655,000 | 1,761,413 | |
Sunoco Logistics Partners Operations LP | 3.900 | 07-15-26 | 1,430,000 | 1,348,635 | |
Sunoco Logistics Partners Operations LP | 5.400 | 10-01-47 | 820,000 | 740,597 | |
Targa Resources Partners LP | 5.875 | 04-15-26 | 1,596,000 | 1,416,450 | |
Teekay Offshore Partners LP (D) | 8.500 | 07-15-23 | 886,000 | 795,185 |
18 | JOHN HANCOCK BALANCED FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Energy (continued) | |||||
Oil, gas and consumable fuels (continued) | |||||
The Williams Companies, Inc. | 3.750 | 06-15-27 | 1,115,000 | $1,112,039 | |
The Williams Companies, Inc. | 4.550 | 06-24-24 | 2,432,000 | 2,536,660 | |
The Williams Companies, Inc. | 5.750 | 06-24-44 | 367,000 | 398,498 | |
TransCanada PipeLines, Ltd. | 4.250 | 05-15-28 | 670,000 | 720,884 | |
WPX Energy, Inc. | 4.500 | 01-15-30 | 650,000 | 529,750 | |
WPX Energy, Inc. | 5.250 | 09-15-24 | 220,000 | 197,520 | |
WPX Energy, Inc. | 5.250 | 10-15-27 | 876,000 | 762,120 | |
Financials 5.4% | 128,344,710 | ||||
Banks 3.2% | |||||
Australia & New Zealand Banking Group, Ltd. (6.750% to 6-15-26, then 5 Year ICE Swap Rate + 5.168%) (D)(E) | 6.750 | 06-15-26 | 565,000 | 605,963 | |
Banco Santander SA | 4.379 | 04-12-28 | 1,000,000 | 1,082,891 | |
Bank of America Corp. (2.592% to 4-29-30, then SOFR + 2.150%) | 2.592 | 04-29-31 | 1,560,000 | 1,596,911 | |
Bank of America Corp. | 3.950 | 04-21-25 | 1,569,000 | 1,688,675 | |
Bank of America Corp. | 4.200 | 08-26-24 | 683,000 | 738,566 | |
Bank of America Corp. | 4.450 | 03-03-26 | 1,721,000 | 1,897,905 | |
Bank of America Corp. (6.300% to 3-10-26, then 3 month LIBOR + 4.553%) (E) | 6.300 | 03-10-26 | 1,963,000 | 2,135,577 | |
Barclays Bank PLC (D) | 10.179 | 06-12-21 | 345,000 | 369,598 | |
Barclays PLC | 4.375 | 01-12-26 | 840,000 | 902,036 | |
BPCE SA (D) | 4.500 | 03-15-25 | 1,065,000 | 1,120,348 | |
BPCE SA (D) | 5.700 | 10-22-23 | 1,260,000 | 1,362,995 | |
Citigroup, Inc. | 3.200 | 10-21-26 | 1,911,000 | 2,013,845 | |
Citigroup, Inc. | 4.600 | 03-09-26 | 2,077,000 | 2,280,557 | |
Citigroup, Inc. (4.700% to 1-30-25, then SOFR + 3.234%) (E) | 4.700 | 01-30-25 | 1,660,000 | 1,444,200 | |
Citigroup, Inc. | 5.500 | 09-13-25 | 565,000 | 647,166 | |
Citigroup, Inc. (6.250% to 8-15-26, then 3 month LIBOR + 4.517%) (E) | 6.250 | 08-15-26 | 1,315,000 | 1,407,050 | |
Citizens Bank NA | 2.250 | 04-28-25 | 1,124,000 | 1,124,138 | |
Citizens Financial Group, Inc. | 3.250 | 04-30-30 | 1,548,000 | 1,551,448 | |
Credit Agricole SA (D) | 3.250 | 01-14-30 | 1,776,000 | 1,795,191 | |
Credit Agricole SA (7.875% to 1-23-24, then 5 Year U.S. Swap Rate + 4.898%) (D)(E) | 7.875 | 01-23-24 | 970,000 | 1,029,859 | |
Credit Suisse Group AG (D) | 3.574 | 01-09-23 | 337,000 | 344,498 | |
Danske Bank A/S (D) | 5.000 | 01-12-22 | 945,000 | 976,940 | |
Discover Bank | 2.450 | 09-12-24 | 1,205,000 | 1,178,721 | |
Fifth Third Bancorp | 1.625 | 05-05-23 | 420,000 | 419,731 | |
Fifth Third Bancorp (5.100% to 6-30-23, then 3 month LIBOR + 3.033%) (E) | 5.100 | 06-30-23 | 901,000 | 801,890 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK BALANCED FUND | 19 |
Rate (%) | Maturity date | Par value^ | Value | ||
Financials (continued) | |||||
Banks (continued) | |||||
Freedom Mortgage Corp. (D) | 8.125 | 11-15-24 | 832,000 | $690,560 | |
Freedom Mortgage Corp. (D) | 8.250 | 04-15-25 | 250,000 | 212,500 | |
HSBC Holdings PLC (3.950% to 5-18-23, then 3 month LIBOR + 0.987%) | 3.950 | 05-18-24 | 2,010,000 | 2,133,472 | |
HSBC Holdings PLC (6.375% to 3-30-25, then 5 Year ICE Swap Rate + 4.368%) (E) | 6.375 | 03-30-25 | 342,000 | 339,647 | |
HSBC Holdings PLC (6.875% to 6-1-21, then 5 Year ICE Swap Rate + 5.514%) (E) | 6.875 | 06-01-21 | 1,150,000 | 1,152,875 | |
ING Groep NV | 3.550 | 04-09-24 | 882,000 | 927,296 | |
ING Groep NV (6.500% to 4-16-25, then 5 Year U.S. Swap Rate + 4.446%) (E) | 6.500 | 04-16-25 | 375,000 | 371,813 | |
JPMorgan Chase & Co. (2.522 to 4-22-30, then SOFR + 2.040%) | 2.522 | 04-22-31 | 1,640,000 | 1,674,040 | |
JPMorgan Chase & Co. | 2.950 | 10-01-26 | 1,799,000 | 1,885,349 | |
JPMorgan Chase & Co. (3.960% to 1-29-26, then 3 month LIBOR + 1.245%) | 3.960 | 01-29-27 | 1,558,000 | 1,721,245 | |
JPMorgan Chase & Co. (4.600% to 2-1-25, then SOFR + 3.125%) (E) | 4.600 | 02-01-25 | 1,303,000 | 1,168,791 | |
JPMorgan Chase & Co. (6.750% to 2-1-24, then 3 month LIBOR + 3.780%) (E) | 6.750 | 02-01-24 | 1,700,000 | 1,825,086 | |
Lloyds Banking Group PLC | 4.450 | 05-08-25 | 2,660,000 | 2,893,086 | |
Lloyds Banking Group PLC (7.500% to 6-27-24, then 5 Year U.S. Swap Rate + 4.760%) (E) | 7.500 | 06-27-24 | 915,000 | 896,700 | |
M&T Bank Corp. (5.125% to 11-1-26, then 3 month LIBOR + 3.520%) (E) | 5.125 | 11-01-26 | 765,000 | 771,372 | |
Manufacturers & Traders Trust Company (3 month LIBOR + 0.640%) (C) | 2.220 | 12-01-21 | 490,000 | 483,754 | |
PNC Bank NA | 2.450 | 07-28-22 | 1,410,000 | 1,443,017 | |
Santander Holdings USA, Inc. | 3.244 | 10-05-26 | 2,229,000 | 2,166,568 | |
Santander Holdings USA, Inc. | 3.400 | 01-18-23 | 900,000 | 905,800 | |
Santander Holdings USA, Inc. | 3.500 | 06-07-24 | 2,132,000 | 2,155,777 | |
Santander Holdings USA, Inc. | 4.400 | 07-13-27 | 410,000 | 417,181 | |
Santander UK Group Holdings PLC (D) | 4.750 | 09-15-25 | 940,000 | 979,094 | |
Societe Generale SA (7.375% to 9-13-21, then 5 Year U.S. Swap Rate + 6.238%) (D)(E) | 7.375 | 09-13-21 | 870,000 | 849,338 | |
The PNC Financial Services Group, Inc. | 2.200 | 11-01-24 | 1,717,000 | 1,783,299 | |
The PNC Financial Services Group, Inc. | 3.150 | 05-19-27 | 244,000 | 265,304 | |
The PNC Financial Services Group, Inc. | 3.500 | 01-23-24 | 604,000 | 646,009 | |
The PNC Financial Services Group, Inc. (4.850% to 6-1-23, then 3 month LIBOR + 3.040%) (E) | 4.850 | 06-01-23 | 785,000 | 722,200 |
20 | JOHN HANCOCK BALANCED FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Financials (continued) | |||||
Banks (continued) | |||||
The PNC Financial Services Group, Inc. (6.750% to 8-1-21, then 3 month LIBOR + 3.678%) (E) | 6.750 | 08-01-21 | 1,616,000 | $1,639,238 | |
The Royal Bank of Scotland Group PLC (3.754% to 11-1-24, then 5 Year CMT + 2.100%) | 3.754 | 11-01-29 | 413,000 | 411,599 | |
The Royal Bank of Scotland Group PLC | 3.875 | 09-12-23 | 1,340,000 | 1,402,881 | |
The Royal Bank of Scotland Group PLC (8.625% to 8-15-21, then 5 Year U.S. Swap Rate + 7.598%) (E) | 8.625 | 08-15-21 | 2,041,000 | 2,081,820 | |
The Toronto-Dominion Bank | 3.250 | 03-11-24 | 1,505,000 | 1,594,036 | |
Wells Fargo & Company (2.188% to 4-30-25, then SOFR + 2.000%) | 2.188 | 04-30-26 | 2,688,000 | 2,701,829 | |
Wells Fargo & Company (3.068% to 4-30-40, then SOFR + 2.530%) | 3.068 | 04-30-41 | 1,256,000 | 1,236,696 | |
Wells Fargo & Company (5.875% to 6-15-25, then 3 month LIBOR + 3.990%) (E) | 5.875 | 06-15-25 | 3,063,000 | 3,269,753 | |
Capital markets 0.7% | |||||
Ares Capital Corp. | 4.200 | 06-10-24 | 1,001,000 | 955,599 | |
Cantor Fitzgerald LP (D) | 4.875 | 05-01-24 | 1,564,000 | 1,531,499 | |
Credit Suisse Group AG (7.500% to 7-17-23, then 5 Year U.S. Swap Rate + 4.600%) (D)(E) | 7.500 | 07-17-23 | 1,155,000 | 1,166,550 | |
Credit Suisse Group AG (7.500% to 12-11-23, then 5 Year U.S. Swap Rate + 4.598%) (D)(E) | 7.500 | 12-11-23 | 450,000 | 475,313 | |
Ford Motor Credit Company LLC | 5.113 | 05-03-29 | 1,799,000 | 1,547,140 | |
Lazard Group LLC | 4.375 | 03-11-29 | 735,000 | 768,913 | |
Macquarie Bank, Ltd. (D) | 4.875 | 06-10-25 | 1,155,000 | 1,241,620 | |
Morgan Stanley (2.188% to 4-28-25, then SOFR +1.990%) | 2.188 | 04-28-26 | 2,754,000 | 2,783,974 | |
Morgan Stanley | 3.875 | 01-27-26 | 1,078,000 | 1,184,650 | |
Raymond James Financial, Inc. | 4.650 | 04-01-30 | 360,000 | 404,768 | |
Stearns Holdings LLC (D) | 5.000 | 11-05-24 | 7,341 | 4,405 | |
Stifel Financial Corp. | 4.250 | 07-18-24 | 884,000 | 921,550 | |
The Bank of New York Mellon Corp. | 1.600 | 04-24-25 | 1,044,000 | 1,059,361 | |
The Goldman Sachs Group, Inc. | 3.850 | 01-26-27 | 2,611,000 | 2,816,604 | |
UBS Group AG (7.000% to 1-31-24, then 5 Year U.S. Swap Rate + 4.344%) (D)(E) | 7.000 | 01-31-24 | 898,000 | 923,773 | |
Consumer finance 0.3% | |||||
Ally Financial, Inc. | 5.125 | 09-30-24 | 1,794,000 | 1,856,252 | |
Ally Financial, Inc. | 5.800 | 05-01-25 | 800,000 | 852,528 | |
Capital One Financial Corp. | 3.900 | 01-29-24 | 1,950,000 | 2,032,199 | |
Credito Real SAB de CV (9.125% to 11-29-22, then 5 Year CMT + 7.026%) (D)(E) | 9.125 | 11-29-22 | 510,000 | 372,305 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK BALANCED FUND | 21 |
Rate (%) | Maturity date | Par value^ | Value | ||
Financials (continued) | |||||
Consumer finance (continued) | |||||
Discover Financial Services | 3.950 | 11-06-24 | 1,605,000 | $1,643,104 | |
Discover Financial Services | 4.100 | 02-09-27 | 426,000 | 426,147 | |
Enova International, Inc. (D) | 8.500 | 09-01-24 | 142,000 | 123,540 | |
Enova International, Inc. (D) | 8.500 | 09-15-25 | 845,000 | 730,925 | |
Springleaf Finance Corp. | 6.875 | 03-15-25 | 260,000 | 245,882 | |
Diversified financial services 0.4% | |||||
Allied Universal Holdco LLC (D) | 6.625 | 07-15-26 | 380,000 | 390,678 | |
GE Capital International Funding Company Unlimited Company | 4.418 | 11-15-35 | 1,873,000 | 1,948,163 | |
Gogo Intermediate Holdings LLC (D) | 9.875 | 05-01-24 | 478,000 | 391,960 | |
Jefferies Financial Group, Inc. | 5.500 | 10-18-23 | 945,000 | 992,206 | |
Jefferies Group LLC | 4.150 | 01-23-30 | 1,300,000 | 1,290,598 | |
Jefferies Group LLC | 4.850 | 01-15-27 | 1,353,000 | 1,401,814 | |
Operadora de Servicios Mega SA de CV (D) | 8.250 | 02-11-25 | 516,000 | 336,277 | |
Refinitiv US Holdings, Inc. (D) | 6.250 | 05-15-26 | 100,000 | 106,585 | |
Refinitiv US Holdings, Inc. (D) | 8.250 | 11-15-26 | 160,000 | 173,600 | |
Trident TPI Holdings, Inc. (D) | 6.625 | 11-01-25 | 200,000 | 157,580 | |
Voya Financial, Inc. (5.650% to 5-15-23, then 3 month LIBOR + 3.580%) | 5.650 | 05-15-53 | 1,679,000 | 1,645,420 | |
Insurance 0.6% | |||||
AXA SA | 8.600 | 12-15-30 | 460,000 | 638,720 | |
Brighthouse Financial, Inc. | 3.700 | 06-22-27 | 1,915,000 | 1,838,204 | |
CNO Financial Group, Inc. | 5.250 | 05-30-25 | 502,000 | 535,989 | |
CNO Financial Group, Inc. | 5.250 | 05-30-29 | 1,498,000 | 1,571,284 | |
Liberty Mutual Group, Inc. (D) | 3.951 | 10-15-50 | 1,401,000 | 1,430,565 | |
Liberty Mutual Group, Inc. (7.800% to 3-15-37, then 3 month LIBOR + 3.576%) (D) | 7.800 | 03-15-37 | 36,000 | 39,420 | |
MetLife, Inc. (6.400% to 12-15-36, then 3 month LIBOR + 2.205%) | 6.400 | 12-15-36 | 1,170,000 | 1,309,283 | |
MetLife, Inc. (9.250% to 4-8-38, then 3 month LIBOR + 5.540%) (D) | 9.250 | 04-08-38 | 320,000 | 422,400 | |
New York Life Insurance Company (D) | 3.750 | 05-15-50 | 671,000 | 758,670 | |
Nippon Life Insurance Company (5.100% to 10-16-24, then 5 Year ICE Swap Rate + 3.650%) (D) | 5.100 | 10-16-44 | 920,000 | 998,200 | |
Prudential Financial, Inc. (5.875% to 9-15-22, then 3 month LIBOR + 4.175%) | 5.875 | 09-15-42 | 2,222,000 | 2,341,055 | |
Teachers Insurance & Annuity Association of America (D) | 4.270 | 05-15-47 | 1,267,000 | 1,472,935 | |
Thrifts and mortgage finance 0.2% | |||||
Ladder Capital Finance Holdings LLLP (D) | 5.250 | 03-15-22 | 220,000 | 181,500 | |
Ladder Capital Finance Holdings LLLP (D) | 5.250 | 10-01-25 | 340,000 | 247,350 | |
MGIC Investment Corp. | 5.750 | 08-15-23 | 362,000 | 354,760 |
22 | JOHN HANCOCK BALANCED FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Financials (continued) | |||||
Thrifts and mortgage finance (continued) | |||||
Nationstar Mortgage Holdings, Inc. (D) | 6.000 | 01-15-27 | 254,000 | $216,687 | |
Nationstar Mortgage Holdings, Inc. (D) | 8.125 | 07-15-23 | 375,000 | 360,000 | |
Nationstar Mortgage Holdings, Inc. (D) | 9.125 | 07-15-26 | 300,000 | 286,875 | |
Nationwide Building Society (3.622% to 4-26-22, then 3 month LIBOR + 1.181%) (D) | 3.622 | 04-26-23 | 939,000 | 962,907 | |
Quicken Loans, Inc. (D) | 5.750 | 05-01-25 | 865,000 | 847,700 | |
Radian Group, Inc. | 4.500 | 10-01-24 | 300,000 | 291,000 | |
Health care 1.0% | 24,092,434 | ||||
Biotechnology 0.2% | |||||
AbbVie, Inc. (D) | 3.200 | 11-21-29 | 2,495,000 | 2,635,969 | |
AbbVie, Inc. (D) | 4.250 | 11-21-49 | 695,000 | 797,266 | |
Shire Acquisitions Investments Ireland DAC | 3.200 | 09-23-26 | 1,720,000 | 1,863,374 | |
Health care equipment and supplies 0.0% | |||||
Baxter International, Inc. (D) | 3.950 | 04-01-30 | 163,000 | 188,801 | |
Health care providers and services 0.7% | �� | ||||
Anthem, Inc. | 2.375 | 01-15-25 | 341,000 | 350,670 | |
Centene Corp. (D) | 3.375 | 02-15-30 | 397,000 | 400,454 | |
Centene Corp. (D) | 4.250 | 12-15-27 | 289,000 | 302,366 | |
Centene Corp. (D) | 4.625 | 12-15-29 | 302,000 | 330,690 | |
Centene Corp. (D) | 5.375 | 06-01-26 | 864,000 | 915,503 | |
CVS Health Corp. | 3.000 | 08-15-26 | 206,000 | 218,566 | |
CVS Health Corp. | 3.750 | 04-01-30 | 916,000 | 1,016,926 | |
CVS Health Corp. | 4.300 | 03-25-28 | 1,290,000 | 1,453,547 | |
CVS Health Corp. | 5.050 | 03-25-48 | 1,301,000 | 1,635,979 | |
DaVita, Inc. | 5.000 | 05-01-25 | 1,464,000 | 1,485,960 | |
Encompass Health Corp. | 4.500 | 02-01-28 | 120,000 | 120,228 | |
HCA, Inc. | 4.125 | 06-15-29 | 524,000 | 563,217 | |
HCA, Inc. | 5.250 | 04-15-25 | 1,208,000 | 1,346,956 | |
HCA, Inc. | 5.250 | 06-15-26 | 945,000 | 1,053,021 | |
MEDNAX, Inc. (D) | 5.250 | 12-01-23 | 665,000 | 633,266 | |
MEDNAX, Inc. (D) | 6.250 | 01-15-27 | 565,000 | 511,574 | |
Rede D'or Finance Sarl (D) | 4.500 | 01-22-30 | 834,000 | 705,814 | |
Select Medical Corp. (D) | 6.250 | 08-15-26 | 750,000 | 716,250 | |
Team Health Holdings, Inc. (D) | 6.375 | 02-01-25 | 150,000 | 82,470 | |
Universal Health Services, Inc. (D) | 4.750 | 08-01-22 | 675,000 | 675,000 | |
Universal Health Services, Inc. (D) | 5.000 | 06-01-26 | 733,000 | 740,330 | |
Life sciences tools and services 0.0% | |||||
Charles River Laboratories International, Inc. (D) | 4.250 | 05-01-28 | 169,000 | 170,479 | |
Pharmaceuticals 0.1% | |||||
Bausch Health Companies, Inc. (D) | 5.250 | 01-30-30 | 495,000 | 490,050 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK BALANCED FUND | 23 |
Rate (%) | Maturity date | Par value^ | Value | ||
Health care (continued) | |||||
Pharmaceuticals (continued) | |||||
Bausch Health Companies, Inc. (D) | 6.125 | 04-15-25 | 1,125,000 | $1,136,953 | |
Catalent Pharma Solutions, Inc. (D) | 5.000 | 07-15-27 | 155,000 | 158,100 | |
GlaxoSmithKline Capital PLC | 3.000 | 06-01-24 | 1,295,000 | 1,392,655 | |
Industrials 2.2% | 51,211,364 | ||||
Aerospace and defense 0.4% | |||||
Howmet Aerospace, Inc. | 5.125 | 10-01-24 | 956,000 | 922,784 | |
Huntington Ingalls Industries, Inc. (D) | 3.844 | 05-01-25 | 240,000 | 252,194 | |
Huntington Ingalls Industries, Inc. (D) | 4.200 | 05-01-30 | 616,000 | 650,422 | |
Huntington Ingalls Industries, Inc. (D) | 5.000 | 11-15-25 | 897,000 | 926,454 | |
Kratos Defense & Security Solutions, Inc. (D) | 6.500 | 11-30-25 | 655,000 | 638,887 | |
The Boeing Company | 3.200 | 03-01-29 | 1,934,000 | 1,696,595 | |
The Boeing Company | 4.875 | 05-01-25 | 1,440,000 | 1,440,000 | |
The Boeing Company | 5.805 | 05-01-50 | 1,415,000 | 1,415,000 | |
TransDigm, Inc. (D) | 5.500 | 11-15-27 | 1,983,000 | 1,675,635 | |
Air freight and logistics 0.1% | |||||
United Parcel Service, Inc. | 3.900 | 04-01-25 | 824,000 | 918,799 | |
XPO Logistics, Inc. (D) | 6.500 | 06-15-22 | 479,000 | 480,916 | |
Airlines 0.7% | |||||
Air Canada 2013-1 Class A Pass Through Trust (D) | 4.125 | 05-15-25 | 478,269 | 440,587 | |
Air Canada 2017-1 Class B Pass Through Trust (D) | 3.700 | 01-15-26 | 695,337 | 548,606 | |
American Airlines 2001-1 Pass Through Trust | 6.977 | 05-23-21 | 124,860 | 124,162 | |
American Airlines 2013-2 Class A Pass Through Trust | 4.950 | 01-15-23 | 944,103 | 833,702 | |
American Airlines 2015-1 Class A Pass Through Trust | 3.375 | 05-01-27 | 995,993 | 777,774 | |
American Airlines 2015-1 Class B Pass Through Trust | 3.700 | 05-01-23 | 436,412 | 296,760 | |
American Airlines 2016-1 Class A Pass Through Trust | 4.100 | 01-15-28 | 1,206,346 | 901,476 | |
American Airlines 2017-1 Class A Pass Through Trust | 4.000 | 02-15-29 | 545,600 | 367,897 | |
American Airlines 2017-1 Class AA Pass Through Trust | 3.650 | 02-15-29 | 835,450 | 785,323 | |
American Airlines 2017-2 Class A Pass Through Trust | 3.600 | 10-15-29 | 370,078 | 260,905 | |
American Airlines 2019-1 Class A Pass Through Trust | 3.500 | 02-15-32 | 590,762 | 391,921 | |
American Airlines 2019-1 Class AA Pass Through Trust | 3.150 | 02-15-32 | 979,680 | 860,573 | |
Azul Investments LLP (D) | 5.875 | 10-26-24 | 740,000 | 388,796 |
24 | JOHN HANCOCK BALANCED FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Industrials (continued) | |||||
Airlines (continued) | |||||
British Airways 2013-1 Class A Pass Through Trust (D) | 4.625 | 06-20-24 | 596,302 | $576,519 | |
British Airways 2013-1 Class B Pass Through Trust (D) | 5.625 | 06-20-20 | 19,931 | 19,893 | |
British Airways 2018-1 Class A Pass Through Trust (D) | 4.125 | 09-20-31 | 332,037 | 245,954 | |
Continental Airlines 2007-1 Class A Pass Through Trust | 5.983 | 04-19-22 | 339,998 | 316,363 | |
Delta Air Lines 2002-1 Class G-1 Pass Through Trust | 6.718 | 01-02-23 | 243,856 | 231,553 | |
Delta Air Lines, Inc. | 2.900 | 10-28-24 | 1,861,000 | 1,460,744 | |
Delta Air Lines, Inc. | 3.800 | 04-19-23 | 1,027,000 | 881,040 | |
Delta Air Lines, Inc. | 4.375 | 04-19-28 | 1,170,000 | 871,325 | |
JetBlue 2019-1 Class AA Pass Through Trust | 2.750 | 05-15-32 | 874,000 | 768,094 | |
United Airlines 2014-2 Class A Pass Through Trust | 3.750 | 09-03-26 | 1,133,645 | 993,329 | |
United Airlines 2014-2 Class B Pass Through Trust | 4.625 | 09-03-22 | 437,400 | 383,801 | |
United Airlines 2016-1 Class A Pass Through Trust | 3.450 | 07-07-28 | 989,620 | 696,838 | |
United Airlines 2016-1 Class B Pass Through Trust | 3.650 | 01-07-26 | 1,334,213 | 957,177 | |
United Airlines 2018-1 Class B Pass Through Trust | 4.600 | 03-01-26 | 283,996 | 184,604 | |
United Airlines 2019-1 Class A Pass Through Trust | 4.550 | 08-25-31 | 809,409 | 619,604 | |
US Airways 2010-1 Class A Pass Through Trust | 6.250 | 04-22-23 | 159,208 | 150,089 | |
US Airways 2012-1 Class A Pass Through Trust | 5.900 | 10-01-24 | 347,336 | 292,244 | |
Building products 0.1% | |||||
Builders FirstSource, Inc. (D) | 5.000 | 03-01-30 | 120,000 | 102,972 | |
Builders FirstSource, Inc. (D) | 6.750 | 06-01-27 | 179,000 | 184,370 | |
Carrier Global Corp. (D) | 2.242 | 02-15-25 | 1,406,000 | 1,398,870 | |
Carrier Global Corp. (D) | 2.722 | 02-15-30 | 1,121,000 | 1,050,740 | |
Owens Corning | 3.950 | 08-15-29 | 935,000 | 966,879 | |
Commercial services and supplies 0.1% | |||||
APX Group, Inc. | 7.625 | 09-01-23 | 966,000 | 753,480 | |
Clean Harbors, Inc. (D) | 4.875 | 07-15-27 | 120,000 | 124,317 | |
Harsco Corp. (D) | 5.750 | 07-31-27 | 200,000 | 188,540 | |
LSC Communications, Inc. (D)(F) | 8.750 | 10-15-23 | 1,058,000 | 63,480 | |
Prime Security Services Borrower LLC (D) | 6.250 | 01-15-28 | 567,000 | 508,883 | |
Construction and engineering 0.1% | |||||
AECOM | 5.125 | 03-15-27 | 1,175,000 | 1,195,563 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK BALANCED FUND | 25 |
Rate (%) | Maturity date | Par value^ | Value | ||
Industrials (continued) | |||||
Construction and engineering (continued) | |||||
Tutor Perini Corp. (D) | 6.875 | 05-01-25 | 200,000 | $157,500 | |
Industrial conglomerates 0.2% | |||||
3M Company | 3.250 | 02-14-24 | 1,400,000 | 1,513,758 | |
DuPont de Nemours, Inc. | 2.169 | 05-01-23 | 1,088,000 | 1,093,537 | |
General Electric Company | 4.350 | 05-01-50 | 1,334,000 | 1,338,872 | |
General Electric Company | 5.550 | 01-05-26 | 1,713,000 | 1,909,576 | |
Machinery 0.0% | |||||
Otis Worldwide Corp. (D) | 2.056 | 04-05-25 | 1,113,000 | 1,130,309 | |
Professional services 0.1% | |||||
IHS Markit, Ltd. (D) | 4.000 | 03-01-26 | 944,000 | 1,000,638 | |
IHS Markit, Ltd. (D) | 4.750 | 02-15-25 | 455,000 | 492,487 | |
IHS Markit, Ltd. | 4.750 | 08-01-28 | 538,000 | 618,216 | |
Road and rail 0.1% | |||||
Uber Technologies, Inc. (D) | 7.500 | 09-15-27 | 1,328,000 | 1,354,693 | |
Trading companies and distributors 0.3% | |||||
AerCap Ireland Capital DAC | 2.875 | 08-14-24 | 1,268,000 | 1,064,951 | |
Ahern Rentals, Inc. (D) | 7.375 | 05-15-23 | 972,000 | 457,229 | |
Air Lease Corp. | 3.625 | 12-01-27 | 445,000 | 371,104 | |
Aircastle, Ltd. | 5.500 | 02-15-22 | 665,000 | 634,165 | |
Ashtead Capital, Inc. (D) | 4.250 | 11-01-29 | 367,000 | 351,501 | |
Ashtead Capital, Inc. (D) | 4.375 | 08-15-27 | 840,000 | 818,689 | |
Avolon Holdings Funding, Ltd. (D) | 5.125 | 10-01-23 | 765,000 | 684,320 | |
H&E Equipment Services, Inc. | 5.625 | 09-01-25 | 307,000 | 292,448 | |
United Rentals North America, Inc. | 3.875 | 11-15-27 | 585,000 | 571,838 | |
United Rentals North America, Inc. | 4.875 | 01-15-28 | 1,005,000 | 999,975 | |
United Rentals North America, Inc. | 5.500 | 07-15-25 | 170,000 | 172,125 | |
Information technology 2.3% | 53,800,435 | ||||
Communications equipment 0.2% | |||||
CommScope, Inc. (D) | 8.250 | 03-01-27 | 1,285,000 | 1,233,600 | |
Motorola Solutions, Inc. | 4.600 | 02-23-28 | 1,835,000 | 2,013,647 | |
Telefonaktiebolaget LM Ericsson | 4.125 | 05-15-22 | 1,730,000 | 1,792,713 | |
Electronic equipment, instruments and components 0.0% | |||||
Tech Data Corp. | 3.700 | 02-15-22 | 453,000 | 446,167 | |
IT services 0.2% | |||||
Banff Merger Sub, Inc. (D) | 9.750 | 09-01-26 | 709,000 | 636,328 | |
PayPal Holdings, Inc. | 2.850 | 10-01-29 | 1,788,000 | 1,896,031 | |
Tempo Acquisition LLC (D) | 6.750 | 06-01-25 | 261,000 | 253,170 | |
VeriSign, Inc. | 4.750 | 07-15-27 | 340,000 | 362,171 | |
VeriSign, Inc. | 5.250 | 04-01-25 | 565,000 | 617,263 | |
Visa, Inc. | 2.700 | 04-15-40 | 520,000 | 543,237 |
26 | JOHN HANCOCK BALANCED FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Information technology (continued) | |||||
Semiconductors and semiconductor equipment 1.3% | |||||
Broadcom Corp. | 3.125 | 01-15-25 | 800,000 | $825,827 | |
Broadcom Corp. | 3.875 | 01-15-27 | 2,824,000 | 2,929,836 | |
Broadcom, Inc. (D) | 4.700 | 04-15-25 | 1,320,000 | 1,454,303 | |
Broadcom, Inc. (D) | 4.750 | 04-15-29 | 1,610,000 | 1,776,054 | |
Broadcom, Inc. (D) | 5.000 | 04-15-30 | 1,584,000 | 1,771,004 | |
KLA Corp. | 4.100 | 03-15-29 | 910,000 | 1,029,806 | |
Lam Research Corp. | 3.750 | 03-15-26 | 980,000 | 1,096,690 | |
Lam Research Corp. | 4.875 | 03-15-49 | 893,000 | 1,211,867 | |
Marvell Technology Group, Ltd. | 4.875 | 06-22-28 | 1,240,000 | 1,355,565 | |
Microchip Technology, Inc. | 4.333 | 06-01-23 | 2,665,000 | 2,762,776 | |
Micron Technology, Inc. | 2.497 | 04-24-23 | 1,532,000 | 1,559,210 | |
Micron Technology, Inc. | 4.185 | 02-15-27 | 2,669,000 | 2,858,139 | |
Micron Technology, Inc. | 4.975 | 02-06-26 | 612,000 | 675,112 | |
Micron Technology, Inc. | 5.327 | 02-06-29 | 2,387,000 | 2,730,285 | |
NVIDIA Corp. | 2.850 | 04-01-30 | 960,000 | 1,040,927 | |
NXP BV (D) | 3.400 | 05-01-30 | 397,000 | 399,101 | |
NXP BV (D) | 3.875 | 06-18-26 | 850,000 | 889,930 | |
NXP BV (D) | 4.625 | 06-01-23 | 1,815,000 | 1,931,558 | |
NXP BV (D) | 4.875 | 03-01-24 | 925,000 | 1,003,794 | |
Qorvo, Inc. | 5.500 | 07-15-26 | 260,000 | 273,000 | |
Software 0.3% | |||||
Autodesk, Inc. | 2.850 | 01-15-30 | 523,000 | 546,457 | |
Citrix Systems, Inc. | 3.300 | 03-01-30 | 1,381,000 | 1,395,057 | |
Microsoft Corp. | 4.450 | 11-03-45 | 1,035,000 | 1,397,814 | |
Oracle Corp. | 2.950 | 04-01-30 | 2,186,000 | 2,385,737 | |
PTC, Inc. (D) | 4.000 | 02-15-28 | 196,000 | 192,080 | |
VMware, Inc. | 4.500 | 05-15-25 | 1,023,000 | 1,081,438 | |
Technology hardware, storage and peripherals 0.3% | |||||
Dell International LLC (D) | 4.900 | 10-01-26 | 1,615,000 | 1,671,299 | |
Dell International LLC (D) | 5.300 | 10-01-29 | 1,745,000 | 1,808,831 | |
Dell International LLC (D) | 5.850 | 07-15-25 | 463,000 | 504,764 | |
Dell International LLC (D) | 8.350 | 07-15-46 | 1,786,000 | 2,226,919 | |
Seagate HDD Cayman | 4.750 | 01-01-25 | 1,185,000 | 1,220,928 | |
Materials 0.6% | 13,284,492 | ||||
Chemicals 0.2% | |||||
Cydsa SAB de CV (D) | 6.250 | 10-04-27 | 880,000 | 785,400 | |
Methanex Corp. | 4.250 | 12-01-24 | 810,000 | 727,070 | |
Methanex Corp. | 5.250 | 12-15-29 | 1,052,000 | 884,423 | |
Orbia Advance Corp. SAB de CV (D) | 5.500 | 01-15-48 | 900,000 | 835,884 | |
Syngenta Finance NV (D) | 4.441 | 04-24-23 | 1,325,000 | 1,325,690 | |
Syngenta Finance NV (D) | 5.676 | 04-24-48 | 365,000 | 357,178 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK BALANCED FUND | 27 |
Rate (%) | Maturity date | Par value^ | Value | ||
Materials (continued) | |||||
Construction materials 0.0% | |||||
Cemex SAB de CV (D) | 6.125 | 05-05-25 | 745,000 | $670,500 | |
Containers and packaging 0.0% | |||||
Ardagh Packaging Finance PLC (D) | 6.000 | 02-15-25 | 685,000 | 685,596 | |
Metals and mining 0.2% | |||||
Anglo American Capital PLC (D) | 4.750 | 04-10-27 | 625,000 | 644,218 | |
Arconic Corp. (D) | 6.000 | 05-15-25 | 304,000 | 307,420 | |
Arconic Corp. (D) | 6.125 | 02-15-28 | 137,000 | 130,362 | |
Commercial Metals Company | 5.375 | 07-15-27 | 231,000 | 225,803 | |
First Quantum Minerals, Ltd. (D) | 6.875 | 03-01-26 | 450,000 | 394,650 | |
First Quantum Minerals, Ltd. (D) | 7.250 | 04-01-23 | 290,000 | 263,204 | |
First Quantum Minerals, Ltd. (D) | 7.500 | 04-01-25 | 583,000 | 514,498 | |
Newmont Corp. | 2.800 | 10-01-29 | 620,000 | 636,688 | |
Paper and forest products 0.2% | |||||
Georgia-Pacific LLC (D) | 2.300 | 04-30-30 | 2,801,000 | 2,797,888 | |
Inversiones CMPC SA (D) | 3.850 | 01-13-30 | 407,000 | 392,755 | |
Norbord, Inc. (D) | 6.250 | 04-15-23 | 415,000 | 408,775 | |
Suzano Austria GmbH | 6.000 | 01-15-29 | 300,000 | 296,490 | |
Real estate 0.6% | 15,051,218 | ||||
Equity real estate investment trusts 0.6% | |||||
American Homes 4 Rent LP | 4.250 | 02-15-28 | 1,353,000 | 1,341,306 | |
American Tower Corp. | 2.400 | 03-15-25 | 795,000 | 818,013 | |
American Tower Corp. | 2.950 | 01-15-25 | 837,000 | 877,767 | |
American Tower Corp. | 3.550 | 07-15-27 | 2,008,000 | 2,190,053 | |
American Tower Corp. | 3.800 | 08-15-29 | 710,000 | 791,059 | |
Crown Castle International Corp. | 3.300 | 07-01-30 | 287,000 | 307,130 | |
Crown Castle International Corp. | 4.150 | 07-01-50 | 255,000 | 297,715 | |
CyrusOne LP | 3.450 | 11-15-29 | 1,014,000 | 967,863 | |
Equinix, Inc. | 3.200 | 11-18-29 | 1,568,000 | 1,640,348 | |
Equinix, Inc. | 5.375 | 05-15-27 | 648,000 | 699,840 | |
GLP Capital LP | 5.375 | 04-15-26 | 967,000 | 963,374 | |
SBA Communications Corp. (D) | 3.875 | 02-15-27 | 456,000 | 465,690 | |
SBA Tower Trust (D) | 2.836 | 01-15-25 | 1,172,000 | 1,192,875 | |
SBA Tower Trust (D) | 3.722 | 04-11-23 | 1,412,000 | 1,434,739 | |
The GEO Group, Inc. | 6.000 | 04-15-26 | 146,000 | 110,595 | |
Ventas Realty LP | 3.500 | 02-01-25 | 825,000 | 827,221 | |
VICI Properties LP (D) | 4.625 | 12-01-29 | 136,000 | 125,630 | |
Utilities 0.6% | 13,011,104 | ||||
Electric utilities 0.3% | |||||
ABY Transmision Sur SA (D) | 6.875 | 04-30-43 | 514,238 | 640,226 | |
Emera US Finance LP | 3.550 | 06-15-26 | 617,000 | 650,798 | |
Empresa Electrica Angamos SA (D) | 4.875 | 05-25-29 | 446,040 | 438,279 |
28 | JOHN HANCOCK BALANCED FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Utilities (continued) | |||||
Electric utilities (continued) | |||||
FirstEnergy Corp. | 2.650 | 03-01-30 | 675,000 | $684,194 | |
Instituto Costarricense de Electricidad (D) | 6.375 | 05-15-43 | 515,000 | 323,168 | |
Israel Electric Corp., Ltd. (D) | 6.875 | 06-21-23 | 300,000 | 336,275 | |
NRG Energy, Inc. (D) | 3.750 | 06-15-24 | 715,000 | 730,502 | |
Vistra Operations Company LLC (D) | 3.700 | 01-30-27 | 1,569,000 | 1,542,086 | |
Vistra Operations Company LLC (D) | 4.300 | 07-15-29 | 1,270,000 | 1,260,790 | |
Gas utilities 0.0% | |||||
AmeriGas Partners LP | 5.500 | 05-20-25 | 680,000 | 690,554 | |
Independent power and renewable electricity producers 0.2% | |||||
Greenko Dutch BV (D) | 4.875 | 07-24-22 | 740,000 | 680,519 | |
Greenko Dutch BV (D) | 5.250 | 07-24-24 | 375,000 | 333,585 | |
LLPL Capital Pte, Ltd. (D) | 6.875 | 02-04-39 | 144,195 | 146,538 | |
NextEra Energy Capital Holdings, Inc. | 3.550 | 05-01-27 | 1,886,000 | 2,073,152 | |
NextEra Energy Operating Partners LP (D) | 3.875 | 10-15-26 | 826,000 | 816,418 | |
NextEra Energy Operating Partners LP (D) | 4.500 | 09-15-27 | 255,000 | 261,694 | |
Multi-utilities 0.1% | |||||
Dominion Energy, Inc. | 3.375 | 04-01-30 | 771,000 | 837,031 | |
NiSource, Inc. | 3.600 | 05-01-30 | 508,000 | 565,295 | |
Municipal bonds 0.0% | $1,076,862 | ||||
(Cost $1,136,935) | |||||
New Jersey Transportation Trust Fund Authority | 4.081 | 06-15-39 | 1,023,000 | 984,576 | |
New Jersey Transportation Trust Fund Authority | 4.131 | 06-15-42 | 95,000 | 92,286 | |
Collateralized mortgage obligations 2.4% | $55,480,864 | ||||
(Cost $58,118,651) | |||||
Commercial and residential 1.8% | 40,909,225 | ||||
AOA Mortgage Trust Series 2015-1177, Class C (D)(G) | 3.110 | 12-13-29 | 290,000 | 289,240 | |
Arroyo Mortgage Trust | |||||
Series 2018-1, Class A1 (D)(G) | 3.763 | 04-25-48 | 1,166,442 | 1,175,389 | |
Series 2019-2, Class A1 (D)(G) | 3.347 | 04-25-49 | 951,859 | 946,856 | |
Series 2019-3, Class A1 (D)(G) | 2.962 | 10-25-48 | 535,852 | 531,491 | |
BAMLL Commercial Mortgage Securities Trust Series 2019-BPR, Class ENM (D)(G) | 3.843 | 11-05-32 | 575,000 | 387,231 | |
Barclays Commercial Mortgage Trust Series 2019-C5, Class A2 | 3.043 | 11-15-52 | 665,000 | 692,053 | |
BBCMS Mortgage Trust Series 2018-TALL, Class E (1 month LIBOR + 2.437%) (C)(D) | 3.251 | 03-15-37 | 500,000 | 424,052 | |
BBCMS Trust | |||||
Series 2015-MSQ, Class D (D)(G) | 4.123 | 09-15-32 | 385,000 | 375,211 | |
Series 2015-SRCH, Class D (D)(G) | 5.122 | 08-10-35 | 840,000 | 825,552 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK BALANCED FUND | 29 |
Rate (%) | Maturity date | Par value^ | Value | ||
Commercial and residential (continued) | |||||
Series 2020-C6, Class A2 | 2.690 | 02-15-53 | 537,000 | $555,609 | |
Benchmark Mortgage Trust | |||||
Series 2019-B10, Class A2 | 3.614 | 03-15-62 | 926,000 | 982,696 | |
Series 2019-B11, Class A2 | 3.410 | 05-15-52 | 710,000 | 747,967 | |
Series 2019-B12, Class A2 | 3.001 | 08-15-52 | 905,000 | 940,162 | |
Series 2019-B13, Class A2 | 2.889 | 08-15-57 | 780,000 | 806,981 | |
Series 2019-B14, Class A2 | 2.915 | 12-15-62 | 1,054,000 | 1,092,989 | |
BRAVO Residential Funding Trust Series 2019-NQM1, Class A1 (D)(G) | 2.666 | 07-25-59 | 389,189 | 391,501 | |
Bunker Hill Loan Depositary Trust Series 2019-1, Class A1 (D) | 3.613 | 10-26-48 | 121,926 | 122,714 | |
BWAY Mortgage Trust Series 2015-1740, Class XA IO (D) | 1.023 | 01-10-35 | 7,015,000 | 107,236 | |
BX Commercial Mortgage Trust Series 2018-BIOA, Class D (1 month LIBOR + 1.321%) (C)(D) | 2.135 | 03-15-37 | 480,000 | 444,433 | |
CAMB Commercial Mortgage Trust Series 2019-LIFE, Class D (1 month LIBOR + 1.750%) (C)(D) | 2.564 | 12-15-37 | 230,000 | 219,084 | |
CGDBB Commercial Mortgage Trust Series 2017-BIOC, Class E (1 month LIBOR + 2.150%) (C)(D) | 2.964 | 07-15-32 | 438,501 | 380,669 | |
Citigroup Commercial Mortgage Trust | |||||
Series 2019-PRM, Class A (D) | 3.341 | 05-10-36 | 315,000 | 314,771 | |
Series 2019-SMRT, Class A (D) | 4.149 | 01-10-36 | 260,000 | 268,978 | |
COLT Mortgage Loan Trust | |||||
Series 2019-2, Class A1 (D)(G) | 3.337 | 05-25-49 | 345,503 | 345,652 | |
Series 2020-1, Class A1 (D)(G) | 2.488 | 02-25-50 | 559,919 | 560,032 | |
Commercial Mortgage Trust (Cantor Fitzgerald/Deutsche Bank AG) | |||||
Series 2012-CR2, Class XA IO | 1.792 | 08-15-45 | 3,759,283 | 109,216 | |
Series 2012-CR3, Class XA IO | 2.013 | 10-15-45 | 5,415,783 | 189,527 | |
Series 2014-CR15, Class XA IO | 1.087 | 02-10-47 | 5,675,585 | 153,691 | |
Series 2014-CR20, Class A3 | 3.326 | 11-10-47 | 1,730,000 | 1,814,128 | |
Series 2016-CR28, Class A3 | 3.495 | 02-10-49 | 350,000 | 366,363 | |
Commercial Mortgage Trust (Citigroup/Deutsche Bank AG) Series 2018-COR3, Class XA IO | 0.586 | 05-10-51 | 9,669,244 | 288,633 | |
Commercial Mortgage Trust (Deutsche Bank AG) | |||||
Series 2013-300P, Class D (D)(G) | 4.540 | 08-10-30 | 880,000 | 879,427 | |
Series 2013-LC13, Class B (D)(G) | 5.009 | 08-10-46 | 220,000 | 226,053 | |
Series 2017-PANW, Class A (D) | 3.244 | 10-10-29 | 305,000 | 303,914 | |
Series 2020-CBM, Class A2 (D) | 2.896 | 02-10-37 | 322,000 | 287,877 | |
Credit Suisse Mortgage Capital Certificates Series 2019-ICE4, Class D (1 month LIBOR + 1.600%) (C)(D) | 2.414 | 05-15-36 | 1,390,000 | 1,295,090 | |
CSMC Trust | |||||
Series 2019-AFC1, Class A1 (D) | 2.573 | 07-25-49 | 908,444 | 907,735 | |
Series 2020-AFC1, Class A1 (D)(G) | 2.240 | 02-25-50 | 797,119 | 755,506 |
30 | JOHN HANCOCK BALANCED FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Commercial and residential (continued) | |||||
GCAT LLC Series 2019-NQM1, Class A1 (D) | 3.985 | 02-25-59 | 1,142,968 | $1,140,767 | |
GCAT Trust Series 2020-NQM1, Class A1 (D) | 2.247 | 01-25-60 | 1,317,243 | 1,326,716 | |
GS Mortgage Securities Trust | |||||
Series 2015-590M, Class C (D)(G) | 3.932 | 10-10-35 | 320,000 | 301,849 | |
Series 2015-GC30, Class A3 | 3.119 | 05-10-50 | 805,000 | 837,608 | |
Series 2015-GC34, Class A4 | 3.506 | 10-10-48 | 425,000 | 453,261 | |
Series 2016-RENT, Class D (D)(G) | 4.202 | 02-10-29 | 630,000 | 618,240 | |
Series 2017-485L, Class C (D)(G) | 4.115 | 02-10-37 | 250,000 | 237,940 | |
Series 2019-GC39, Class A2 | 3.457 | 05-10-52 | 1,035,000 | 1,088,104 | |
Series 2019-GC40, Class A2 | 2.971 | 07-10-52 | 845,000 | 881,100 | |
Series 2020-UPTN, Class A (D) | 2.751 | 02-10-37 | 650,000 | 630,221 | |
Hudsons Bay Simon JV Trust Series 2015-HBFL, Class DFL (1 month LIBOR + 3.900%) (C)(D) | 5.277 | 08-05-34 | 210,000 | 183,597 | |
IMT Trust | |||||
Series 2017-APTS, Class AFX (D) | 3.478 | 06-15-34 | 330,000 | 327,771 | |
Series 2017-APTS, Class CFX (D)(G) | 3.613 | 06-15-34 | 400,000 | 366,538 | |
Irvine Core Office Trust Series 2013-IRV, Class A2 (D)(G) | 3.279 | 05-15-48 | 1,370,000 | 1,373,847 | |
JPMBB Commercial Mortgage Securities Trust | |||||
Series 2015-C31, Class A3 | 3.801 | 08-15-48 | 815,000 | 881,809 | |
Series 2016-C1, Class A4 | 3.311 | 03-15-49 | 300,000 | 318,444 | |
JPMorgan Chase Commercial Mortgage Securities Trust | |||||
Series 2012-HSBC, Class XA IO (D) | 1.582 | 07-05-32 | 5,964,905 | 161,117 | |
Series 2015-JP1, Class A4 | 3.650 | 01-15-49 | 1,780,000 | 1,920,448 | |
Series 2015-JP1, Class A5 | 3.914 | 01-15-49 | 485,000 | 529,440 | |
Series 2020-NNN, Class AFX (D) | 2.812 | 01-16-37 | 683,000 | 685,396 | |
KNDL Mortgage Trust Series 2019-KNSQ, Class D (1 month LIBOR + 1.350%) (C)(D) | 2.164 | 05-15-36 | 350,000 | 325,311 | |
Morgan Stanley Capital I Trust Series 2017-CLS, Class D (1 month LIBOR + 1.400%) (C)(D) | 2.214 | 11-15-34 | 850,000 | 809,777 | |
MSCG Trust Series 2016-SNR, Class D (D) | 6.550 | 11-15-34 | 514,250 | 501,168 | |
Natixis Commercial Mortgage Securities Trust | |||||
Series 2018-285M, Class D (D)(G) | 3.917 | 11-15-32 | 464,000 | 451,807 | |
Series 2018-ALXA, Class C (D)(G) | 4.460 | 01-15-43 | 380,000 | 347,994 | |
One Market Plaza Trust Series 2017-1MKT, Class D (D) | 4.146 | 02-10-32 | 240,000 | 240,822 | |
Seasoned Credit Risk Transfer Trust Series 2019-2, Class MA | 3.500 | 08-25-58 | 1,028,227 | 1,100,378 | |
Starwood Mortgage Residential Trust | |||||
Series 2018-IMC1, Class A1 (D)(G) | 3.793 | 03-25-48 | 183,039 | 183,101 | |
Series 2020-1, Class A1 (D)(G) | 2.275 | 02-25-50 | 646,642 | 639,959 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK BALANCED FUND | 31 |
Rate (%) | Maturity date | Par value^ | Value | ||
Commercial and residential (continued) | |||||
Wells Fargo Commercial Mortgage Trust Series 2017-SMP, Class D (1 month LIBOR + 1.650%) (C)(D) | 2.464 | 12-15-34 | 295,000 | $233,087 | |
WF-RBS Commercial Mortgage Trust | |||||
Series 2012-C9, Class XA IO (D) | 2.051 | 11-15-45 | 4,324,133 | 157,085 | |
Series 2013-C16, Class B (G) | 5.201 | 09-15-46 | 145,000 | 148,814 | |
U.S. Government Agency 0.6% | 14,571,639 | ||||
Federal Home Loan Mortgage Corp. | |||||
Series K017, Class X1 IO | 1.433 | 12-25-21 | 4,657,357 | 72,111 | |
Series K021, Class X1 IO | 1.551 | 06-25-22 | 284,114 | 6,942 | |
Series K022, Class X1 IO | 1.332 | 07-25-22 | 10,151,461 | 215,885 | |
Series K040, Class A2 | 3.241 | 09-25-24 | 1,265,000 | 1,378,795 | |
Series K043, Class A2 | 3.062 | 12-25-24 | 1,710,000 | 1,858,549 | |
Series K728, Class A2 (G) | 3.064 | 08-25-24 | 541,000 | 581,648 | |
Series K729, Class A2 | 3.136 | 10-25-24 | 1,364,000 | 1,473,801 | |
Series KIR3, Class A1 | 3.038 | 08-25-27 | 1,420,000 | 1,558,656 | |
Government National Mortgage Association | |||||
Series 2012-114, Class IO | 0.760 | 01-16-53 | 2,045,935 | 82,384 | |
Series 2016-174, Class IO | 0.890 | 11-16-56 | 4,317,221 | 284,563 | |
Series 2017-109, Class IO | 0.599 | 04-16-57 | 5,710,900 | 269,544 | |
Series 2017-124, Class IO | 0.703 | 01-16-59 | 6,654,994 | 373,213 | |
Series 2017-135, Class IO | 0.837 | 10-16-58 | 4,727,014 | 288,118 | |
Series 2017-140, Class IO | 0.613 | 02-16-59 | 3,736,862 | 201,595 | |
Series 2017-159, Class IO | 0.544 | 06-16-59 | 5,842,010 | 272,772 | |
Series 2017-169, Class IO | 0.727 | 01-16-60 | 9,836,284 | 529,646 | |
Series 2017-20, Class IO | 0.736 | 12-16-58 | 6,608,970 | 344,245 | |
Series 2017-22, Class IO | 0.942 | 12-16-57 | 2,702,379 | 188,129 | |
Series 2017-41, Class IO | 0.766 | 07-16-58 | 5,028,226 | 284,849 | |
Series 2017-46, Class IO | 0.616 | 11-16-57 | 6,655,960 | 333,687 | |
Series 2017-61, Class IO | 0.764 | 05-16-59 | 3,155,623 | 192,203 | |
Series 2018-158, Class IO | 0.727 | 05-16-61 | 4,780,187 | 326,225 | |
Series 2018-35, Class IO | 0.528 | 03-16-60 | 7,063,617 | 353,122 | |
Series 2018-43, Class IO | 0.575 | 05-16-60 | 10,193,175 | 524,830 | |
Series 2018-68, Class IO | 0.479 | 01-16-60 | 12,220,593 | 542,394 | |
Series 2018-69, Class IO | 0.573 | 04-16-60 | 9,723,649 | 538,502 | |
Series 2018-81, Class IO | 0.451 | 01-16-60 | 10,621,049 | 518,640 | |
Series 2018-9, Class IO | 0.558 | 01-16-60 | 11,401,176 | 559,565 | |
Series 2019-131, Class IO | 0.931 | 07-16-61 | 5,666,010 | 417,026 | |
Asset backed securities 2.0% | $47,001,362 | ||||
(Cost $48,125,856) | |||||
Asset backed securities 2.0% | 47,001,362 | ||||
AccessLex Institute Series 2007-A, Class A3 (3 month LIBOR + 0.300%) (C) | 1.979 | 05-25-36 | 512,873 | 460,677 |
32 | JOHN HANCOCK BALANCED FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Asset backed securities (continued) | |||||
Applebee's Funding LLC Series 2019-1A, Class A2I (D) | 4.194 | 06-07-49 | 1,457,000 | $1,227,333 | |
Arby's Funding LLC Series 2015-1A, Class A2 (D) | 4.969 | 10-30-45 | 1,179,425 | 1,161,722 | |
Avis Budget Rental Car Funding AESOP LLC | |||||
Series 2019-3A, Class A (D) | 2.360 | 03-20-26 | 836,000 | 741,715 | |
Series 2020-1A, Class A (D) | 2.330 | 08-20-26 | 867,000 | 767,823 | |
BRE Grand Islander Timeshare Issuer LLC Series 2019-A, Class A (D) | 3.280 | 09-26-33 | 476,217 | 476,985 | |
CARS-DB4 LP Series 2020-1A, Class B1 (D) | 4.170 | 02-15-50 | 857,000 | 768,319 | |
CLI Funding LLC Series 2018-1A, Class A (D) | 4.030 | 04-18-43 | 1,277,871 | 1,229,169 | |
Coinstar Funding LLC Series 2017-1A, Class A2 (D) | 5.216 | 04-25-47 | 1,052,450 | 1,026,300 | |
Corevest American Finance Trust Series 2019-3, Class A (D) | 2.705 | 10-15-52 | 221,666 | 214,784 | |
CWABS Asset-Backed Certificates Trust Series 2004-10, Class AF5B | 4.512 | 02-25-35 | 106,487 | 106,698 | |
DB Master Finance LLC | |||||
Series 2017-1A, Class A2I (D) | 3.629 | 11-20-47 | 388,068 | 384,618 | |
Series 2017-1A, Class A2II (D) | 4.030 | 11-20-47 | 434,988 | 426,771 | |
Series 2019-1A, Class A2I (D) | 3.787 | 05-20-49 | 2,168,613 | 2,183,294 | |
Domino's Pizza Master Issuer LLC Series 2017-1A, Class A23 (D) | 4.118 | 07-25-47 | 1,326,000 | 1,368,856 | |
Driven Brands Funding LLC Series 2015-1A, Class A2 (D) | 5.216 | 07-20-45 | 1,274,925 | 1,295,579 | |
Five Guys Funding LLC Series 2017-1A, Class A2 (D) | 4.600 | 07-25-47 | 655,050 | 619,637 | |
FOCUS Brands Funding LLC Series 2017-1A, Class A2I (D) | 3.857 | 04-30-47 | 368,600 | 352,518 | |
Ford Credit Auto Owner Trust Series 2020-1, Class A (D) | 2.040 | 08-15-31 | 1,734,000 | 1,688,934 | |
Ford Credit Floorplan Master Owner Trust Series 2019-2, Class A | 3.060 | 04-15-26 | 1,311,000 | 1,292,416 | |
GMF Floorplan Owner Revolving Trust Series 2019-2, Class A (D) | 2.900 | 04-15-26 | 1,225,000 | 1,166,101 | |
Golden Credit Card Trust Series 2018-4A, Class A (D) | 3.440 | 10-15-25 | 920,000 | 974,889 | |
Hilton Grand Vacations Trust | |||||
Series 2017-AA, Class A (D) | 2.660 | 12-26-28 | 706,040 | 678,674 | |
Series 2018-AA, Class A (D) | 3.540 | 02-25-32 | 354,880 | 341,989 | |
Jack in the Box Funding LLC | |||||
Series 2019-1A, Class A23 (D) | 4.970 | 08-25-49 | 443,888 | 416,069 | |
Series 2019-1A, Class A2I (D) | 3.982 | 08-25-49 | 443,888 | 429,217 | |
Laurel Road Prime Student Loan Trust Series 2019-A, Class A2FX (D) | 2.730 | 10-25-48 | 295,000 | 296,859 | |
MelTel Land Funding LLC Series 2019-1A, Class A (D) | 3.768 | 04-15-49 | 505,000 | 505,949 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK BALANCED FUND | 33 |
Rate (%) | Maturity date | Par value^ | Value | ||
Asset backed securities (continued) | |||||
Mill City Mortgage Loan Trust Series 2018-3, Class A1 (D)(G) | 3.500 | 08-25-58 | 385,065 | $397,452 | |
MVW Owner Trust | |||||
Series 2015-1A, Class A (D) | 2.520 | 12-20-32 | 74,827 | 72,936 | |
Series 2018-1A, Class A (D) | 3.450 | 01-21-36 | 811,317 | 788,913 | |
Navient Private Education Loan Trust Series 2016-AA, Class A2A (D) | 3.910 | 12-15-45 | 326,765 | 337,897 | |
Navient Private Education Refi Loan Trust Series 2019-FA, Class A2 (D) | 2.600 | 08-15-68 | 1,139,000 | 1,114,331 | |
New Residential Mortgage LLC | |||||
Series 2018-FNT1, Class A (D) | 3.610 | 05-25-23 | 497,025 | 492,774 | |
Series 2018-FNT2, Class A (D) | 3.790 | 07-25-54 | 289,676 | 277,806 | |
NRZ Excess Spread-Collateralized Notes | |||||
Series 2018-PLS1, Class A (D) | 3.193 | 01-25-23 | 162,228 | 162,609 | |
Series 2018-PLS2, Class A (D) | 3.265 | 02-25-23 | 901,673 | 902,897 | |
Oxford Finance Funding LLC Series 2019-1A, Class A2 (D) | 4.459 | 02-15-27 | 348,000 | 354,736 | |
Progress Residential Trust Series 2020-SFR1, Class A (D) | 1.732 | 04-17-37 | 887,000 | 862,698 | |
Renaissance Home Equity Loan Trust Series 2005-2, Class AF4 | 4.934 | 08-25-35 | 343,824 | 346,962 | |
Santander Revolving Auto Loan Trust Series 2019-A, Class A (D) | 2.510 | 01-26-32 | 1,395,000 | 1,346,745 | |
SCF Equipment Leasing LLC Series 2019-1A, Class A2 (D) | 3.230 | 10-20-24 | 372,000 | 357,635 | |
Sesac Finance LLC Series 2019-1, Class A2 (D) | 5.216 | 07-25-49 | 744,375 | 743,980 | |
Sierra Timeshare Receivables Funding LLC Series 2019-1A, Class A (D) | 3.200 | 01-20-36 | 331,754 | 324,417 | |
SMB Private Education Loan Trust | |||||
Series 2015-C, Class A2A (D) | 2.750 | 07-15-27 | 250,733 | 253,484 | |
Series 2019-B, Class A2A (D) | 2.840 | 06-15-37 | 1,141,000 | 1,124,899 | |
Sonic Capital LLC Series 2020-1A, Class A2I (D) | 3.845 | 01-20-50 | 799,665 | 756,163 | |
Sunbird Engine Finance LLC Series 2020-1A, Class A (D) | 3.671 | 02-15-45 | 556,133 | 403,754 | |
Taco Bell Funding LLC Series 2018-1A, Class A2I (D) | 4.318 | 11-25-48 | 1,185,988 | 1,214,843 | |
TAL Advantage V LLC Series 2014-1A, Class A (D) | 3.510 | 02-22-39 | 180,167 | 176,026 | |
Towd Point Mortgage Trust | |||||
Series 2015-1, Class A5 (D)(G) | 3.901 | 10-25-53 | 280,000 | 281,108 | |
Series 2015-2, Class 1M2 (D)(G) | 3.748 | 11-25-60 | 815,000 | 815,962 | |
Series 2017-1, Class A1 (D)(G) | 2.750 | 10-25-56 | 645,094 | 648,575 | |
Series 2017-2, Class A1 (D)(G) | 2.750 | 04-25-57 | 171,787 | 172,244 | |
Series 2018-1, Class A1 (D)(G) | 3.000 | 01-25-58 | 349,289 | 355,380 | |
Series 2018-3, Class A1 (D)(G) | 3.750 | 05-25-58 | 524,801 | 544,293 | |
Series 2018-4, Class A1 (D)(G) | 3.000 | 06-25-58 | 911,253 | 931,360 | |
Series 2018-5, Class A1A (D)(G) | 3.250 | 07-25-58 | 223,797 | 228,986 |
34 | JOHN HANCOCK BALANCED FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Asset backed securities (continued) | |||||
Series 2018-6, Class A1A (D)(G) | 3.750 | 03-25-58 | 1,316,952 | $1,361,542 | |
Series 2019-1, Class A1 (D)(G) | 3.750 | 03-25-58 | 547,309 | 568,874 | |
Series 2019-4, Class A1 (D)(G) | 2.900 | 10-25-59 | 671,421 | 691,319 | |
Toyota Auto Loan Extended Note Trust Series 2019-1A, Class A (D) | 2.560 | 11-25-31 | 2,418,000 | 2,497,062 | |
Triton Container Finance V LLC Series 2018-1A, Class A (D) | 3.950 | 03-20-43 | 490,833 | 470,306 | |
Vantage Data Centers Issuer LLC Series 2018-1A, Class A2 (D) | 4.072 | 02-16-43 | 513,625 | 520,719 | |
VSE VOI Mortgage LLC Series 2017-A, Class A (D) | 2.330 | 03-20-35 | 396,859 | 375,295 | |
Westgate Resorts LLC | |||||
Series 2016-1A, Class A (D) | 3.500 | 12-20-28 | 108,711 | 107,999 | |
Series 2017-1A, Class A (D) | 3.050 | 12-20-30 | 201,883 | 195,225 | |
Westlake Automobile Receivables Trust Series 2019-1A, Class C (D) | 3.450 | 03-15-24 | 499,000 | 499,082 | |
Willis Engine Structured Trust V Series 2020-A, Class A (D) | 3.228 | 03-15-45 | 434,363 | 318,179 | |
Escrow certificates 0.0% | $32,169 | ||||
(Cost $0) | |||||
Stearns Holdings LLC (A)(D)(H) | 9.375 | 08-15-20 | 279,000 | 32,169 | |
Yield* (%) | Maturity date | Par value^ | Value | ||
Short-term investments 0.8% | $17,913,528 | ||||
(Cost $17,912,641) | |||||
U.S. Government Agency 0.1% | 1,643,000 | ||||
Federal Agricultural Mortgage Corp. Discount Note | 0.010 | 05-01-20 | 1,643,000 | 1,643,000 |
Yield (%) | Shares | Value | |||
Short-term funds 0.0% | 801,528 | ||||
John Hancock Collateral Trust (I) | 0.6614(J) | 80,086 | 801,528 |
Par value^ | Value | ||||
Repurchase agreement 0.7% | 15,469,000 | ||||
Repurchase Agreement with State Street Corp. dated 4-30-20 at 0.000% to be repurchased at $15,469,000 on 5-1-20, collateralized by $15,215,000 U.S. Treasury Notes, 2.625% due 6-15-20 (valued at $15,783,113) | 15,469,000 | 15,469,000 |
Total investments (Cost $1,915,552,875) 99.6% | $2,346,747,920 | ||||
Other assets and liabilities, net 0.4% | 10,174,347 | ||||
Total net assets 100.0% | $2,356,922,267 |
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. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK BALANCED FUND | 35 |
Security Abbreviations and Legend | |
ADR | American Depositary Receipt |
CMT | Constant Maturity Treasury |
ICE | Intercontinental Exchange |
IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
LIBOR | London Interbank Offered Rate |
SOFR | Secured Overnight Financing Rate |
(A) | Non-income producing security. |
(B) | All or a portion of this security is on loan as of 4-30-20. |
(C) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
(D) | 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. |
(E) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
(F) | Non-income producing - Issuer is in default. |
(G) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
(H) | 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. |
(I) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |
(J) | The rate shown is the annualized seven-day yield as of 4-30-20. |
* | Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end. |
36 | JOHN HANCOCK BALANCED FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Financial statements |
Assets | |
Unaffiliated investments, at value (Cost $1,914,752,234) including $778,768 of securities loaned | $2,345,946,392 |
Affiliated investments, at value (Cost $800,641) | 801,528 |
Total investments, at value (Cost $1,915,552,875) | 2,346,747,920 |
Cash | 441 |
Dividends and interest receivable | 8,114,304 |
Receivable for fund shares sold | 10,689,106 |
Receivable for investments sold | 13,079,245 |
Receivable for securities lending income | 5,242 |
Other assets | 206,497 |
Total assets | 2,378,842,755 |
Liabilities | |
Payable for investments purchased | 17,742,879 |
Payable for fund shares repurchased | 2,551,841 |
Payable upon return of securities loaned | 795,931 |
Payable to affiliates | |
Accounting and legal services fees | 129,778 |
Transfer agent fees | 211,366 |
Distribution and service fees | 263,752 |
Trustees' fees | 2,929 |
Other liabilities and accrued expenses | 222,012 |
Total liabilities | 21,920,488 |
Net assets | $2,356,922,267 |
Net assets consist of | |
Paid-in capital | $1,917,899,832 |
Total distributable earnings (loss) | 439,022,435 |
Net assets | $2,356,922,267 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Balanced Fund | 37 |
Net asset value per share | |
Based on net asset value and shares outstanding - the fund has an unlimited number of shares authorized with no par value | |
Class A ($1,256,889,877 ÷ 60,819,175 shares)1 | $20.67 |
Class B ($7,367,263 ÷ 357,288 shares)1 | $20.62 |
Class C ($321,687,072 ÷ 15,588,330 shares)1 | $20.64 |
Class I ($483,968,993 ÷ 23,444,404 shares) | $20.64 |
Class R1 ($2,849,900 ÷ 137,233 shares) | $20.77 |
Class R2 ($3,773,271 ÷ 182,860 shares) | $20.63 |
Class R3 ($4,342,292 ÷ 209,603 shares) | $20.72 |
Class R4 ($12,333,002 ÷ 593,876 shares) | $20.77 |
Class R5 ($2,122,212 ÷ 102,374 shares) | $20.73 |
Class R6 ($261,588,385 ÷ 12,652,408 shares) | $20.67 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95.5%)2 | $21.64 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
38 | JOHN HANCOCK Balanced Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Investment income | |
Interest | $16,268,059 |
Dividends | 12,167,480 |
Securities lending | 21,923 |
Less foreign taxes withheld | (205,258) |
Total investment income | 28,252,204 |
Expenses | |
Investment management fees | 6,709,991 |
Distribution and service fees | 3,536,583 |
Accounting and legal services fees | 214,347 |
Transfer agent fees | 1,267,262 |
Trustees' fees | 17,726 |
Custodian fees | 149,475 |
State registration fees | 116,742 |
Printing and postage | 80,285 |
Professional fees | 41,013 |
Other | 64,122 |
Total expenses | 12,197,546 |
Less expense reductions | (86,698) |
Net expenses | 12,110,848 |
Net investment income | 16,141,356 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | 14,393,230 |
Affiliated investments | 4,451 |
14,397,681 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | (30,001,480) |
Affiliated investments | 887 |
(30,000,593) | |
Net realized and unrealized loss | (15,602,912) |
Increase in net assets from operations | $538,444 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Balanced Fund | 39 |
Six months ended 4-30-20 (unaudited) | Year ended 10-31-19 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $16,141,356 | $30,582,077 |
Net realized gain | 14,397,681 | 17,678,865 |
Change in net unrealized appreciation (depreciation) | (30,000,593) | 165,235,409 |
Increase in net assets resulting from operations | 538,444 | 213,496,351 |
Distributions to shareholders | ||
From earnings | ||
Class A | (17,467,087) | (60,142,315) |
Class B | (122,477) | (1,158,730) |
Class C | (4,030,657) | (25,200,789) |
Class I | (7,970,580) | (33,159,374) |
Class R1 | (46,588) | (235,667) |
Class R2 | (61,270) | (253,240) |
Class R3 | (64,418) | (324,186) |
Class R4 | (200,941) | (1,184,133) |
Class R5 | (36,173) | (163,936) |
Class R6 | (4,133,149) | (13,119,592) |
Total distributions | (34,133,340) | (134,941,962) |
From fund share transactions | 243,075,212 | 166,475,730 |
Total increase | 209,480,316 | 245,030,119 |
Net assets | ||
Beginning of period | 2,147,441,951 | 1,902,411,832 |
End of period | $2,356,922,267 | $2,147,441,951 |
40 | JOHN HANCOCK Balanced Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Financial highlights |
CLASS A SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $20.90 | $20.18 | $20.40 | $18.29 | $18.56 | $19.34 |
Net investment income2 | 0.15 | 0.32 | 0.32 | 0.32 | 0.32 | 0.36 |
Net realized and unrealized gain (loss) on investments | (0.06) | 1.84 | 0.28 | 2.12 | 0.25 | (0.19) |
Total from investment operations | 0.09 | 2.16 | 0.60 | 2.44 | 0.57 | 0.17 |
Less distributions | ||||||
From net investment income | (0.17) | (0.33) | (0.34) | (0.33) | (0.32) | (0.40) |
From net realized gain | (0.15) | (1.11) | (0.48) | — | (0.52) | (0.55) |
Total distributions | (0.32) | (1.44) | (0.82) | (0.33) | (0.84) | (0.95) |
Net asset value, end of period | $20.67 | $20.90 | $20.18 | $20.40 | $18.29 | $18.56 |
Total return (%)3,4 | 0.455 | 11.63 | 2.89 | 13.41 | 3.26 | 0.98 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $1,257 | $1,063 | $832 | $817 | $866 | $808 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.086 | 1.08 | 1.07 | 1.08 | 1.09 | 1.09 |
Expenses including reductions | 1.076 | 1.07 | 1.06 | 1.08 | 1.09 | 1.09 |
Net investment income | 1.436 | 1.60 | 1.57 | 1.62 | 1.77 | 1.92 |
Portfolio turnover (%) | 50 | 76 | 58 | 52 | 47 | 49 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Does not reflect the effect of sales charges, if any. |
5 | Not annualized. |
6 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Balanced Fund | 41 |
CLASS B SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $20.85 | $20.13 | $20.36 | $18.25 | $18.52 | $19.30 |
Net investment income2 | 0.07 | 0.19 | 0.18 | 0.18 | 0.19 | 0.23 |
Net realized and unrealized gain (loss) on investments | (0.06) | 1.83 | 0.26 | 2.12 | 0.25 | (0.19) |
Total from investment operations | 0.01 | 2.02 | 0.44 | 2.30 | 0.44 | 0.04 |
Less distributions | ||||||
From net investment income | (0.09) | (0.19) | (0.19) | (0.19) | (0.19) | (0.27) |
From net realized gain | (0.15) | (1.11) | (0.48) | — | (0.52) | (0.55) |
Total distributions | (0.24) | (1.30) | (0.67) | (0.19) | (0.71) | (0.82) |
Net asset value, end of period | $20.62 | $20.85 | $20.13 | $20.36 | $18.25 | $18.52 |
Total return (%)3,4 | 0.075 | 10.88 | 2.13 | 12.66 | 2.54 | 0.27 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $7 | $11 | $20 | $36 | $49 | $67 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.786 | 1.78 | 1.77 | 1.78 | 1.79 | 1.79 |
Expenses including reductions | 1.776 | 1.77 | 1.76 | 1.78 | 1.79 | 1.78 |
Net investment income | 0.696 | 0.93 | 0.88 | 0.93 | 1.08 | 1.23 |
Portfolio turnover (%) | 50 | 76 | 58 | 52 | 47 | 49 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Does not reflect the effect of sales charges, if any. |
5 | Not annualized. |
6 | Annualized. |
42 | JOHN HANCOCK Balanced Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS C SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $20.86 | $20.15 | $20.37 | $18.26 | $18.53 | $19.31 |
Net investment income2 | 0.07 | 0.18 | 0.18 | 0.18 | 0.19 | 0.23 |
Net realized and unrealized gain (loss) on investments | (0.05) | 1.83 | 0.27 | 2.12 | 0.25 | (0.19) |
Total from investment operations | 0.02 | 2.01 | 0.45 | 2.30 | 0.44 | 0.04 |
Less distributions | ||||||
From net investment income | (0.09) | (0.19) | (0.19) | (0.19) | (0.19) | (0.27) |
From net realized gain | (0.15) | (1.11) | (0.48) | — | (0.52) | (0.55) |
Total distributions | (0.24) | (1.30) | (0.67) | (0.19) | (0.71) | (0.82) |
Net asset value, end of period | $20.64 | $20.86 | $20.15 | $20.37 | $18.26 | $18.53 |
Total return (%)3,4 | 0.125 | 10.81 | 2.18 | 12.65 | 2.54 | 0.27 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $322 | $351 | $400 | $499 | $507 | $501 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.786 | 1.78 | 1.77 | 1.78 | 1.79 | 1.79 |
Expenses including reductions | 1.776 | 1.77 | 1.76 | 1.78 | 1.79 | 1.78 |
Net investment income | 0.716 | 0.91 | 0.87 | 0.93 | 1.07 | 1.22 |
Portfolio turnover (%) | 50 | 76 | 58 | 52 | 47 | 49 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Does not reflect the effect of sales charges, if any. |
5 | Not annualized. |
6 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Balanced Fund | 43 |
CLASS I SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $20.88 | $20.16 | $20.39 | $18.28 | $18.55 | $19.33 |
Net investment income2 | 0.18 | 0.38 | 0.38 | 0.37 | 0.37 | 0.42 |
Net realized and unrealized gain (loss) on investments | (0.07) | 1.84 | 0.27 | 2.12 | 0.26 | (0.19) |
Total from investment operations | 0.11 | 2.22 | 0.65 | 2.49 | 0.63 | 0.23 |
Less distributions | ||||||
From net investment income | (0.20) | (0.39) | (0.40) | (0.38) | (0.38) | (0.46) |
From net realized gain | (0.15) | (1.11) | (0.48) | — | (0.52) | (0.55) |
Total distributions | (0.35) | (1.50) | (0.88) | (0.38) | (0.90) | (1.01) |
Net asset value, end of period | $20.64 | $20.88 | $20.16 | $20.39 | $18.28 | $18.55 |
Total return (%)3 | 0.564 | 11.98 | 3.16 | 13.77 | 3.59 | 1.31 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $484 | $469 | $454 | $522 | $233 | $195 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.785 | 0.79 | 0.78 | 0.77 | 0.78 | 0.78 |
Expenses including reductions | 0.775 | 0.78 | 0.77 | 0.77 | 0.78 | 0.77 |
Net investment income | 1.735 | 1.90 | 1.85 | 1.91 | 2.09 | 2.23 |
Portfolio turnover (%) | 50 | 76 | 58 | 52 | 47 | 49 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
44 | JOHN HANCOCK Balanced Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R1 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $20.99 | $20.26 | $20.48 | $18.36 | $18.62 | $19.41 |
Net investment income2 | 0.12 | 0.26 | 0.26 | 0.25 | 0.26 | 0.30 |
Net realized and unrealized gain (loss) on investments | (0.06) | 1.84 | 0.27 | 2.13 | 0.26 | (0.20) |
Total from investment operations | 0.06 | 2.10 | 0.53 | 2.38 | 0.52 | 0.10 |
Less distributions | ||||||
From net investment income | (0.13) | (0.26) | (0.27) | (0.26) | (0.26) | (0.34) |
From net realized gain | (0.15) | (1.11) | (0.48) | — | (0.52) | (0.55) |
Total distributions | (0.28) | (1.37) | (0.75) | (0.26) | (0.78) | (0.89) |
Net asset value, end of period | $20.77 | $20.99 | $20.26 | $20.48 | $18.36 | $18.62 |
Total return (%)3 | 0.324 | 11.24 | 2.52 | 13.03 | 2.95 | 0.58 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $3 | $3 | $4 | $5 | $6 | $5 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.385 | 1.41 | 1.41 | 1.43 | 1.44 | 1.44 |
Expenses including reductions | 1.375 | 1.40 | 1.40 | 1.42 | 1.43 | 1.43 |
Net investment income | 1.115 | 1.28 | 1.23 | 1.29 | 1.43 | 1.59 |
Portfolio turnover (%) | 50 | 76 | 58 | 52 | 47 | 49 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Balanced Fund | 45 |
CLASS R2 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $20.86 | $20.15 | $20.37 | $18.27 | $18.53 | $19.33 |
Net investment income2 | 0.14 | 0.30 | 0.30 | 0.31 | 0.29 | 0.34 |
Net realized and unrealized gain (loss) on investments | (0.06) | 1.83 | 0.28 | 2.10 | 0.27 | (0.19) |
Total from investment operations | 0.08 | 2.13 | 0.58 | 2.41 | 0.56 | 0.15 |
Less distributions | ||||||
From net investment income | (0.16) | (0.31) | (0.32) | (0.31) | (0.30) | (0.40) |
From net realized gain | (0.15) | (1.11) | (0.48) | — | (0.52) | (0.55) |
Total distributions | (0.31) | (1.42) | (0.80) | (0.31) | (0.82) | (0.95) |
Net asset value, end of period | $20.63 | $20.86 | $20.15 | $20.37 | $18.27 | $18.53 |
Total return (%)3 | 0.454 | 11.48 | 2.79 | 13.27 | 3.23 | 0.86 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $4 | $4 | $4 | $4 | $8 | $2 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.165 | 1.17 | 1.18 | 1.18 | 1.19 | 1.17 |
Expenses including reductions | 1.165 | 1.17 | 1.17 | 1.17 | 1.18 | 1.17 |
Net investment income | 1.335 | 1.51 | 1.47 | 1.58 | 1.63 | 1.84 |
Portfolio turnover (%) | 50 | 76 | 58 | 52 | 47 | 49 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
46 | JOHN HANCOCK Balanced Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R3 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $20.94 | $20.22 | $20.45 | $18.33 | $18.59 | $19.38 |
Net investment income2 | 0.12 | 0.27 | 0.28 | 0.27 | 0.27 | 0.32 |
Net realized and unrealized gain (loss) on investments | (0.05) | 1.84 | 0.27 | 2.13 | 0.27 | (0.20) |
Total from investment operations | 0.07 | 2.11 | 0.55 | 2.40 | 0.54 | 0.12 |
Less distributions | ||||||
From net investment income | (0.14) | (0.28) | (0.30) | (0.28) | (0.28) | (0.36) |
From net realized gain | (0.15) | (1.11) | (0.48) | — | (0.52) | (0.55) |
Total distributions | (0.29) | (1.39) | (0.78) | (0.28) | (0.80) | (0.91) |
Net asset value, end of period | $20.72 | $20.94 | $20.22 | $20.45 | $18.33 | $18.59 |
Total return (%)3 | 0.374 | 11.34 | 2.64 | 13.17 | 3.07 | 0.69 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $4 | $5 | $5 | $5 | $4 | $19 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.305 | 1.32 | 1.28 | 1.33 | 1.32 | 1.33 |
Expenses including reductions | 1.295 | 1.32 | 1.27 | 1.32 | 1.32 | 1.32 |
Net investment income | 1.205 | 1.37 | 1.36 | 1.37 | 1.50 | 1.68 |
Portfolio turnover (%) | 50 | 76 | 58 | 52 | 47 | 49 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Balanced Fund | 47 |
CLASS R4 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $21.00 | $20.27 | $20.49 | $18.36 | $18.63 | $19.41 |
Net investment income2 | 0.16 | 0.35 | 0.35 | 0.35 | 0.35 | 0.39 |
Net realized and unrealized gain (loss) on investments | (0.06) | 1.85 | 0.28 | 2.13 | 0.25 | (0.19) |
Total from investment operations | 0.10 | 2.20 | 0.63 | 2.48 | 0.60 | 0.20 |
Less distributions | ||||||
From net investment income | (0.18) | (0.36) | (0.37) | (0.35) | (0.35) | (0.43) |
From net realized gain | (0.15) | (1.11) | (0.48) | — | (0.52) | (0.55) |
Total distributions | (0.33) | (1.47) | (0.85) | (0.35) | (0.87) | (0.98) |
Net asset value, end of period | $20.77 | $21.00 | $20.27 | $20.49 | $18.36 | $18.63 |
Total return (%)3 | 0.534 | 11.79 | 3.03 | 13.64 | 3.41 | 1.15 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $12 | $13 | $17 | $24 | $30 | $19 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.025 | 1.03 | 1.03 | 1.03 | 1.03 | 1.04 |
Expenses including reductions | 0.915 | 0.92 | 0.92 | 0.92 | 0.92 | 0.93 |
Net investment income | 1.595 | 1.77 | 1.70 | 1.79 | 1.93 | 2.06 |
Portfolio turnover (%) | 50 | 76 | 58 | 52 | 47 | 49 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
48 | JOHN HANCOCK Balanced Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R5 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $20.96 | $20.24 | $20.47 | $18.34 | $18.60 | $19.39 |
Net investment income2 | 0.19 | 0.39 | 0.40 | 0.39 | 0.38 | 0.44 |
Net realized and unrealized gain (loss) on investments | (0.06) | 1.84 | 0.26 | 2.13 | 0.26 | (0.21) |
Total from investment operations | 0.13 | 2.23 | 0.66 | 2.52 | 0.64 | 0.23 |
Less distributions | ||||||
From net investment income | (0.21) | (0.40) | (0.41) | (0.39) | (0.38) | (0.47) |
From net realized gain | (0.15) | (1.11) | (0.48) | — | (0.52) | (0.55) |
Total distributions | (0.36) | (1.51) | (0.89) | (0.39) | (0.90) | (1.02) |
Net asset value, end of period | $20.73 | $20.96 | $20.24 | $20.47 | $18.34 | $18.60 |
Total return (%)3 | 0.644 | 11.98 | 3.19 | 13.88 | 3.68 | 1.30 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $2 | $2 | $2 | $2 | $2 | $2 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.725 | 0.73 | 0.73 | 0.73 | 0.73 | 0.73 |
Expenses including reductions | 0.715 | 0.72 | 0.72 | 0.72 | 0.72 | 0.72 |
Net investment income | 1.785 | 1.95 | 1.96 | 1.97 | 2.14 | 2.29 |
Portfolio turnover (%) | 50 | 76 | 58 | 52 | 47 | 49 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Balanced Fund | 49 |
CLASS R6 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $20.91 | $20.19 | $20.41 | $18.30 | $18.56 | $19.35 |
Net investment income2 | 0.19 | 0.40 | 0.41 | 0.39 | 0.39 | 0.44 |
Net realized and unrealized gain (loss) on investments | (0.07) | 1.84 | 0.27 | 2.12 | 0.27 | (0.20) |
Total from investment operations | 0.12 | 2.24 | 0.68 | 2.51 | 0.66 | 0.24 |
Less distributions | ||||||
From net investment income | (0.21) | (0.41) | (0.42) | (0.40) | (0.40) | (0.48) |
From net realized gain | (0.15) | (1.11) | (0.48) | — | (0.52) | (0.55) |
Total distributions | (0.36) | (1.52) | (0.90) | (0.40) | (0.92) | (1.03) |
Net asset value, end of period | $20.67 | $20.91 | $20.19 | $20.41 | $18.30 | $18.56 |
Total return (%)3 | 0.674 | 12.07 | 3.30 | 13.87 | 3.76 | 1.38 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $262 | $226 | $166 | $18 | $7 | $5 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.675 | 0.68 | 0.68 | 0.68 | 0.69 | 0.69 |
Expenses including reductions | 0.665 | 0.67 | 0.67 | 0.67 | 0.66 | 0.67 |
Net investment income | 1.845 | 2.00 | 1.98 | 1.97 | 2.19 | 2.34 |
Portfolio turnover (%) | 50 | 76 | 58 | 52 | 47 | 49 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
50 | JOHN HANCOCK Balanced Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Notes to financial statements (unaudited) |
SEMIANNUAL REPORT | JOHN HANCOCK Balanced Fund | 51 |
Total value at 4-30-20 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | $1,372,276,429 | $1,343,847,450 | $28,428,979 | — |
Preferred securities | 2,511,028 | 2,511,028 | — | — |
U.S. Government and Agency obligations | 398,794,604 | — | 398,794,604 | — |
Foreign government obligations | 4,728,942 | — | 4,728,942 | — |
Corporate bonds | 446,932,132 | — | 446,932,132 | — |
Municipal bonds | 1,076,862 | — | 1,076,862 | — |
Collateralized mortgage obligations | 55,480,864 | — | 55,480,864 | — |
Asset backed securities | 47,001,362 | — | 47,001,362 | — |
Escrow certificates | 32,169 | — | — | $32,169 |
Short-term investments | 17,913,528 | 801,528 | 17,112,000 | — |
Total investments in securities | $2,346,747,920 | $1,347,160,006 | $999,555,745 | $32,169 |
52 | JOHN HANCOCK Balanced Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Balanced Fund | 53 |
54 | JOHN HANCOCK Balanced Fund | SEMIANNUAL REPORT |
Class | Expense reduction |
Class A | $41,496 |
Class B | 341 |
Class | Expense reduction |
Class C | $12,045 |
Class I | 17,132 |
SEMIANNUAL REPORT | JOHN HANCOCK Balanced Fund | 55 |
Class | Expense reduction |
Class R1 | $118 |
Class R2 | 145 |
Class R3 | 159 |
Class R4 | 438 |
Class | Expense reduction |
Class R5 | $75 |
Class R6 | 8,607 |
Total | $80,556 |
Class | Rule 12b-1 Fee | Service fee |
Class A | 0.30% | — |
Class B | 1.00% | — |
Class C | 1.00% | — |
Class R1 | 0.50% | 0.25% |
Class R2 | 0.25% | 0.25% |
Class R3 | 0.50% | 0.15% |
Class R4 | 0.25% | 0.10% |
Class R5 | — | 0.05% |
56 | JOHN HANCOCK Balanced Fund | SEMIANNUAL REPORT |
Class | Distribution and service fees | Transfer agent fees |
Class A | $1,747,585 | $731,307 |
Class B | 47,445 | 5,944 |
Class C | 1,683,897 | 211,213 |
Class I | — | 301,155 |
Class R1 | 11,718 | 220 |
Class R2 | 10,036 | 267 |
Class R3 | 14,040 | 294 |
Class R4 | 21,341 | 810 |
Class R5 | 521 | 139 |
Class R6 | — | 15,913 |
Total | $3,536,583 | $1,267,262 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Lender | $1,000,000 | 1 | 1.570% | $44 |
SEMIANNUAL REPORT | JOHN HANCOCK Balanced Fund | 57 |
Six Months Ended 4-30-20 | Year Ended 10-31-19 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 21,390,231 | $447,065,208 | 17,827,152 | $358,821,353 |
Distributions reinvested | 831,184 | 16,897,309 | 3,122,194 | 58,256,341 |
Repurchased | (12,277,109) | (253,830,067) | (11,296,619) | (226,124,337) |
Net increase | 9,944,306 | $210,132,450 | 9,652,727 | $190,953,357 |
Class B shares | ||||
Sold | 7,906 | $165,199 | 16,564 | $322,658 |
Distributions reinvested | 5,390 | 111,728 | 58,403 | 1,077,248 |
Repurchased | (199,985) | (4,100,446) | (502,719) | (9,879,867) |
Net decrease | (186,689) | $(3,823,519) | (427,752) | $(8,479,961) |
Class C shares | ||||
Sold | 1,345,988 | $27,737,093 | 2,480,805 | $48,929,991 |
Distributions reinvested | 176,912 | 3,653,656 | 1,227,779 | 22,711,974 |
Repurchased | (2,739,425) | (56,014,947) | (6,780,942) | (134,084,859) |
Net decrease | (1,216,525) | $(24,624,198) | (3,072,358) | $(62,442,894) |
Class I shares | ||||
Sold | 4,273,140 | $89,353,704 | 6,623,345 | $130,794,097 |
Distributions reinvested | 344,069 | 6,972,030 | 1,533,965 | 28,603,840 |
Repurchased | (3,657,015) | (72,095,641) | (8,166,157) | (159,008,781) |
Net increase (decrease) | 960,194 | $24,230,093 | (8,847) | $389,156 |
Class R1 shares | ||||
Sold | 35,784 | $741,912 | 33,297 | $664,078 |
Distributions reinvested | 1,773 | 36,433 | 8,551 | 159,757 |
Repurchased | (65,220) | (1,316,205) | (53,428) | (1,080,583) |
Net decrease | (27,663) | $(537,860) | (11,580) | $(256,748) |
Class R2 shares | ||||
Sold | 11,414 | $237,655 | 87,369 | $1,742,276 |
Distributions reinvested | 2,615 | 53,394 | 9,875 | 183,805 |
Repurchased | (31,469) | (640,135) | (75,682) | (1,516,988) |
Net increase (decrease) | (17,440) | $(349,086) | 21,562 | $409,093 |
58 | JOHN HANCOCK Balanced Fund | SEMIANNUAL REPORT |
Six Months Ended 4-30-20 | Year Ended 10-31-19 | |||
Shares | Amount | Shares | Amount | |
Class R3 shares | ||||
Sold | 29,236 | $623,310 | 43,765 | $857,483 |
Distributions reinvested | 3,139 | 64,418 | 17,390 | 324,185 |
Repurchased | (43,626) | (915,078) | (70,338) | (1,426,239) |
Net decrease | (11,251) | $(227,350) | (9,183) | $(244,571) |
Class R4 shares | ||||
Sold | 43,716 | $908,327 | 157,092 | $3,050,177 |
Distributions reinvested | 9,801 | 200,316 | 63,247 | 1,184,133 |
Repurchased | (57,752) | (1,215,549) | (475,729) | (9,619,372) |
Net decrease | (4,235) | $(106,906) | (255,390) | $(5,385,062) |
Class R5 shares | ||||
Sold | 2,533 | $53,477 | 22,394 | $435,832 |
Distributions reinvested | 1,766 | 35,929 | 8,113 | 151,971 |
Repurchased | (4,821) | (103,414) | (37,103) | (744,884) |
Net decrease | (522) | $(14,008) | (6,596) | $(157,081) |
Class R6 shares | ||||
Sold | 2,939,936 | $60,877,407 | 3,882,257 | $77,589,248 |
Distributions reinvested | 203,806 | 4,122,691 | 696,880 | 13,056,458 |
Repurchased | (1,305,738) | (26,604,502) | (1,972,647) | (38,955,265) |
Net increase | 1,838,004 | $38,395,596 | 2,606,490 | $51,690,441 |
Total net increase | 11,278,179 | $243,075,212 | 8,489,073 | $166,475,730 |
SEMIANNUAL REPORT | JOHN HANCOCK Balanced Fund | 59 |
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* | 80,086 | — | $63,227,814 | $(62,431,624) | $4,451 | $887 | $21,923 | — | $801,528 |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
60 | JOHN HANCOCK Balanced Fund | SEMIANNUAL REPORT |
STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT
Operation of the Liquidity Risk Management Program
This section describes operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock Balanced Fund, subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Fund's subadvisor, Manulife Investment Management (US) LLC (the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.
The Committee holds monthly meetings to: (1) review the day-to-day operations of the LRMP; (2) review and approve month end liquidity classifications; (3) review quarterly testing and determinations, as applicable; and (4) review other LRMP related material. The Committee also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Committee may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity and valuation issues.
The Committee provided the Board at a meeting held on March 15-17, 2020 with a written report which addressed the Committee's assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period December 1, 2018 through December 31, 2019, included an assessment of important aspects of the LRMP including, but not limited to:
• Operation of the Fund's Redemption-In-Kind Procedures;
• Highly Liquid Investment Minimum (HLIM) determination;
• Compliance with the 15% limit on illiquid investments;
• Reasonably Anticipated Trade Size (RATS) determination;
• Security-level liquidity classifications; and
• Liquidity risk assessment.
The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee's actions to address such matters.
Redemption-In-Kind Procedures
Rule 22e-4 requires any fund that engages in or reserves the right to engage in in-kind redemptions to adopt and implement written policies and procedures regarding in-kind redemptions as part of the management of its liquidity risk. These procedures address the process for redeeming in kind, as well as the circumstances under which the Fund would consider redeeming in kind. Anticipated large redemption activity will be evaluated to identify situations where redeeming in securities instead of cash may be appropriate.
As part of its annual assessment of the LRMP, the Committee reviewed the implementation and operation of the Redemption-In-Kind Procedures and determined they are operating in a manner that such procedures are adequate and effective to manage in-kind redemptions on behalf of the Fund as part of the LRMP.
Highly Liquid Investment Minimum determination
The Committee uses an HLIM model to determine a Fund's HLIM. This process incorporates the Fund's investment strategy, historical redemptions, liquidity classification rollup percentages and cash balances, redemption policy, access to funding sources, distribution channels and client concentrations. If the Fund falls below its established HLIM for a period greater than 7 consecutive calendar days, the Committee prepares a report to the Board within one business day following the seventh consecutive calendar day with an explanation of how the Fund plans to restore its HLIM within a reasonable period of time.
Based on the HLIM model, the Committee has determined that the Fund qualifies as a Primarily Highly Liquid Fund (PHLF). It is therefore not required to establish a HLIM. The Fund is tested quarterly to confirm its PHLF status.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to HLIM and PHLF determinations, and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Compliance with the 15% limit on illiquid investments
Rule 22e-4 sets an aggregate illiquid investment limit of 15% for a fund. Funds are prohibited from acquiring an illiquid investment if this results in greater than 15% of its net assets being classified as illiquid. When applying this limit, the Committee defines "illiquid investment" to mean any investment that the Fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. If a 15% illiquid investment limit breach occurs for longer than 1 business day, the Fund is required to notify the Board and provide a plan on how to bring illiquid investments within the 15% threshold, and after 7 days confidentially notify the Securities and Exchange Commission (the SEC).
In February 2019, as a result of extended security markets closures in connection with the Chinese New Year in certain countries, the SEC released guidance, and the Committee approved and adopted an Extended Market Holiday Policy to plan for and monitor known Extended Market Holidays (defined as all expected market holiday closures spanning four or more calendar days).
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to the 15% illiquid investment limit and determined such policies and procedures are operating in a manner that is adequate and effective as part of the LMRP.
Reasonably Anticipated Trade Size determination
In order to assess the liquidity risk of a Fund, the Committee considers the impact on the Fund that redemptions of a RATS would have under both normal and reasonably foreseeable stressed conditions. Modelling the Fund's RATS requires quantifying cash flow volatility and analyzing distribution channel concentration and redemption risk. The model is designed to estimate the amount of assets that the Fund could reasonably anticipate trading on a given day, during both normal and reasonably foreseeable stressed conditions, to satisfy redemption requests.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to RATS determinations and determined that such policies and procedures are operating in a manner that is adequate and effective at making RATS determinations as part of the LRMP.
Security-level liquidity classifications
When classifying the liquidity of portfolio securities, the Fund adheres to the liquidity classification procedures established by the Advisor. In assigning a liquidity classification to Fund portfolio holdings, the following key inputs, among others, are considered: the Fund's RATS, feedback from the applicable Subadvisor on market-, trading- and investment-specific considerations, an assessment of current market conditions and fund portfolio holdings, and a value impact standard. The Subadvisor also provides position-level data to the Committee for use in monthly classification reconciliation in order to identify any classifications that may need to be changed as a result of the above considerations.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to security-level liquidity classifications and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Liquidity risk assessment
The Committee periodically reviews and assesses, the Fund's liquidity risk, including its investment strategy and liquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions (including whether the investment strategy is appropriate for an open-end fund, the extent to which the strategy involves a relatively concentrated portfolio or large positions in particular issuers, and the use of borrowings for investment purposes and derivatives), cash flow analysis during both normal and reasonably foreseeable stressed conditions, and holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.
The Committee also monitors global events, such as the COVID-19 Coronavirus, that could impact the markets and liquidity of portfolio investments and their classifications.
As part of its annual assessment of the LRMP, the Committee reviewed Fund-Level Liquidity Risk Assessment Reports for each of the Funds and determined that the investment strategy for each Fund continues to be appropriate for an open-ended structure.
Adequacy and Effectiveness
Based on the review and assessment conducted by the Committee, the Committee has determined that the LRMP has been implemented, and is operating in a manner that is adequate and effective at assessing and managing the liquidity risk of each Fund.
Trustees Hassell H. McClellan,Chairperson Officers Andrew G. Arnott Francis V. Knox, Jr. Charles A. Rizzo Salvatore Schiavone Christopher (Kit) Sechler * Member of the Audit Committee | Investment advisor John Hancock Investment Management LLC Subadvisor Manulife Investment Management (US) LLC Portfolio Managers Susan A. Curry Principal distributor John Hancock Investment Management Distributors LLC Custodian State Street Bank and Trust Company Transfer agent John Hancock Signature Services, Inc. Legal counsel K&L Gates LLP 1 Effective June 1, 2020, Lisa A. Welch will no longer serve as a portfolio manager of the fund. |
The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund's holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund's Form N-PORT filings are available on our website and the SEC's website, sec.gov.
We make this information on your fund, as well asmonthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
You can also contact us: | |||
800-225-5291 jhinvestments.com | Regular mail: John Hancock Signature Services, Inc. | Express mail: John Hancock Signature Services, Inc. |
John Hancock family of funds
DOMESTIC EQUITY FUNDS Blue Chip Growth Classic Value Disciplined Value Disciplined Value Mid Cap Equity Income Financial Industries Fundamental All Cap Core Fundamental Large Cap Core New Opportunities Regional Bank Small Cap Core Small Cap Growth Small Cap Value U.S. Global Leaders Growth U.S. Quality Growth GLOBAL AND INTERNATIONAL EQUITY FUNDS Disciplined Value International Emerging Markets Emerging Markets Equity Fundamental Global Franchise Global Equity Global Shareholder Yield Global Thematic Opportunities International Dynamic Growth International Growth International Small Company | INCOME FUNDS Bond California Tax-Free Income Emerging Markets Debt Floating Rate Income Government Income High Yield High Yield Municipal Bond Income Investment Grade Bond Money Market Short Duration Bond Short Duration Credit Opportunities Strategic Income Opportunities Tax-Free Bond ALTERNATIVE AND SPECIALTY FUNDS Absolute Return Currency Alternative Asset Allocation Alternative Risk Premia Diversified Macro Infrastructure Multi-Asset Absolute Return Seaport Long/Short |
A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
ASSET ALLOCATION Balanced Multi-Asset High Income Multi-Index Lifetime Portfolios Multi-Index Preservation Portfolios Multimanager Lifestyle Portfolios Multimanager Lifetime Portfolios Retirement Income 2040 EXCHANGE-TRADED FUNDS John Hancock Multifactor Consumer Discretionary ETF John Hancock Multifactor Consumer Staples ETF John Hancock Multifactor Developed International ETF John Hancock Multifactor Emerging Markets ETF John Hancock Multifactor Energy ETF John Hancock Multifactor Financials ETF John Hancock Multifactor Healthcare ETF John Hancock Multifactor Industrials ETF John Hancock Multifactor Large Cap ETF John Hancock Multifactor Materials ETF John Hancock Multifactor Media and John Hancock Multifactor Mid Cap ETF John Hancock Multifactor Small Cap ETF John Hancock Multifactor Technology ETF John Hancock Multifactor Utilities ETF | ENVIRONMENTAL, SOCIAL, AND ESG All Cap Core ESG Core Bond ESG International Equity ESG Large Cap Core CLOSED-END FUNDS Financial Opportunities Hedged Equity & Income Income Securities Trust Investors Trust Preferred Income Preferred Income II Preferred Income III Premium Dividend Tax-Advantaged Dividend Income Tax-Advantaged Global Shareholder Yield |
John Hancock Multifactor ETF shares are bought and sold at market price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Investment Management Distributors LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock Multifactor ETFs.
John Hancock Investment Management
A trusted brand
John Hancock Investment Management is a premier asset manager
representing one of America's most trusted brands, with a heritage of
financial stewardship dating back to 1862. Helping our shareholders
pursue their financial goals is at the core of everything we do. It's why
we support the role of professional financial advice and operate with
the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world's best
managers, along with strong risk-adjusted returns across asset classes.
John Hancock Investment Management Distributors LLC n Member FINRA, SIPC
200 Berkeley Street n Boston, MA 02116-5010 n 800-225-5291 n jhinvestments.com
This report is for the information of the shareholders of John Hancock Balanced Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF1182582 | 36SA 4/20 6/2020 |
John Hancock
Small Cap Core Fund
Semiannual report 4/30/2020
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the fund's shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change, and you do not need to take any action. You may elect to receive shareholder reports and other communications electronically by calling John Hancock Investment Management at 800-225-5291 (Class A shares) or 888-972-8696 (Class I and Class R6 shares) or by contacting your financial intermediary.
You may elect to receive all reports in paper, free of charge, at any time. You can inform John Hancock Investment Management or your financial intermediary that you wish to continue receiving paper copies of your shareholder reports by following the instructions listed above. Your election to receive reports in paper will apply to all funds held with John Hancock Investment Management or your financial intermediary.
A message to shareholders
Dear shareholder,
The U.S. financial markets were on pace to deliver strong returns during the 6 months ended April 30, 2020, until heightened fears over the coronavirus (COVID-19) sent markets tumbling during the latter half of February and early March.
In response to the sell-off, the U.S. Federal Reserve acted quickly with a broad array of actions to limit the economic damage from the pandemic, including up to $2.3 trillion in lending to support households, employers, financial markets, and state and local governments. These steps, along with the passage of an estimated $2 trillion federal economic stimulus bill, helped lift the markets during the final month of the period.
The continued spread of COVID-19, trade disputes, rising unemployment, and other geopolitical tensions may continue to create uncertainty among businesses and investors. Your financial professional can helpposition your portfolio so that it's sufficiently diversified to seek to meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I'd like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you've placed in us.
Sincerely,
Andrew G. Arnott
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO's views as of this report's period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
Small Cap Core Fund
INVESTMENT OBJECTIVE
The fund seeks long-term capital appreciation.
AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2020 (%)
The Russell 2000 Index is an unmanaged index composed of 2,000 U.S. small-capitalization stocks.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower. Since-inception returns for the Morningstar fund category average are not available.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus. The fund recently experienced negative short-term performance due to market volatility associated with the COVID-19 pandemic.
SECTOR COMPOSITION AS OF 4/30/2020 (%)
TOP 10 HOLDINGS AS OF 4/30/2020 (%)
Emergent BioSolutions, Inc. | 1.8 |
The Providence Service Corp. | 1.8 |
Quanta Services, Inc. | 1.8 |
Zynga, Inc., Class A | 1.7 |
Applied Industrial Technologies, Inc. | 1.7 |
Progress Software Corp. | 1.7 |
Universal Electronics, Inc. | 1.7 |
Graphic Packaging Holding Company | 1.7 |
First Industrial Realty Trust, Inc. | 1.7 |
American Assets Trust, Inc. | 1.7 |
TOTAL | 17.3 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
A note about risks
The fund may be subject to various risks as described in the fund's prospectus. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange trading suspensions and closures, impact the ability to complete redemptions, and affect fund performance. For example, the novel coronavirus disease (COVID-19) has resulted in significant disruptions to global business activity. The impact of a health crisis and other epidemics and pandemics that may arise in the future, could affect the global economy in ways that cannot necessarily be foreseen at the present time. A health crisis may exacerbate other pre-existing political, social, and economic risks. Any such impact could adversely affect the funds' performance, resulting in losses to your investment. For more information, please refer to the "Principal risks" section of the prospectus.
TOTAL RETURNS FOR THE PERIOD ENDED APRIL 30, 2020
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | ||||||
1-year | 5-year | Since inception1 | 6-month | 5-year | Since inception1 | ||
Class A2 | -16.18 | 3.43 | 3.21 | -14.76 | 18.37 | 22.30 | |
Class I2,3 | -11.54 | 4.65 | 4.25 | -10.19 | 25.51 | 30.31 | |
Class R62,3 | -11.45 | 4.69 | 4.20 | -10.09 | 25.76 | 29.93 | |
Class NAV3 | -11.37 | 4.79 | 4.38 | -10.09 | 26.34 | 31.32 | |
Index† | -16.39 | 2.88 | 3.85 | -15.47 | 15.27 | 27.17 |
Performance figures assume all distributions are reinvested. Figures reflect maximum sales charges on Class A shares of 5%. Sales charges are not applicable to Class I, Class R6, and Class NAV shares.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectuses for the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2021 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Class A | Class I | Class R6 | Class NAV | |
Gross (%) | 1.30 | 1.05 | 0.94 | 0.93 |
Net (%) | 1.29 | 1.04 | 0.93 | 0.92 |
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.
The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.
The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.
† | Index is the Russell 2000 Index. |
See the following page for footnotes.
This chart and table show what happened to a hypothetical $10,000 investment in John Hancock Small Cap Core Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in the Russell 2000 Index.
Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class I2,3 | 12-20-13 | 13,031 | 13,031 | 12,717 |
Class R62,3 | 12-20-13 | 12,993 | 12,993 | 12,717 |
Class NAV3 | 12-20-13 | 13,132 | 13,132 | 12,717 |
The Russell 2000 Index is an unmanaged index composed of 2,000 U.S. small capitalization stocks.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would have resulted in lower returns.
Footnotes related to performance pages
1 | From 12-20-13. |
2 | Class A and Class I shares were first offered on 12-20-13. Class A shares ceased operations between 3-10-16 and 8-30-17. Returns while Class A shares were not offered are those of Class I shares. Class R6 shares were first offered on 8-30-17. Returns shown prior to this date are those of Class A shares (or Class I shares for the period between 3-10-16 and 8-30-17), that have not been adjusted for class-specific expenses; otherwise, returns would vary. |
3 | For certain types of investors, as described in the fund's prospectuses. |
Your expenses |
SEMIANNUAL REPORT | JOHN HANCOCK SMALL CAP CORE FUND | 6 |
Account value on 11-1-2019 | Ending value on 4-30-2020 | Expenses paid during period ended 4-30-20201 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $897.30 | $6.09 | 1.29% |
Hypothetical example | 1,000.00 | 1,018.40 | 6.47 | 1.29% | |
Class I | Actual expenses/actual returns | 1,000.00 | 898.10 | 4.91 | 1.04% |
Hypothetical example | 1,000.00 | 1,019.70 | 5.22 | 1.04% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 899.10 | 4.39 | 0.93% |
Hypothetical example | 1,000.00 | 1,020.20 | 4.67 | 0.93% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 899.10 | 4.30 | 0.91% |
Hypothetical example | 1,000.00 | 1,020.30 | 4.57 | 0.91% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period). |
7 | JOHN HANCOCK SMALL CAP CORE FUND | SEMIANNUAL REPORT |
Fund’s investments |
Shares | Value | ||||
Common stocks 96.4% | $551,704,995 | ||||
(Cost $561,403,845) | |||||
Communication services 6.7% | 38,541,713 | ||||
Entertainment 5.4% | |||||
Glu Mobile, Inc. (A) | 1,025,473 | 7,998,689 | |||
Rovio Entertainment OYJ (B) | 998,490 | 5,974,267 | |||
Sciplay Corp., Class A (A) | 695,092 | 7,333,221 | |||
Zynga, Inc., Class A (A) | 1,320,241 | 9,954,617 | |||
Interactive media and services 1.3% | |||||
CarGurus, Inc. (A) | 318,222 | 7,280,919 | |||
Consumer discretionary 8.7% | 49,790,767 | ||||
Auto components 0.2% | |||||
Cooper Tire & Rubber Company | 63,120 | 1,337,513 | |||
Hotels, restaurants and leisure 0.8% | |||||
Vail Resorts, Inc. | 26,809 | 4,584,339 | |||
Household durables 1.7% | |||||
Universal Electronics, Inc. (A) | 235,763 | 9,732,297 | |||
Internet and direct marketing retail 1.4% | |||||
The RealReal, Inc. (A) | 657,202 | 7,715,551 | |||
Specialty retail 2.8% | |||||
Lithia Motors, Inc., Class A | 58,616 | 6,480,585 | |||
Urban Outfitters, Inc. (A) | 260,541 | 4,517,781 | |||
Williams-Sonoma, Inc. | 85,609 | 5,294,061 | |||
Textiles, apparel and luxury goods 1.8% | |||||
Columbia Sportswear Company | 87,869 | 6,404,771 | |||
Movado Group, Inc. | 361,190 | 3,723,869 | |||
Consumer staples 2.7% | 15,598,511 | ||||
Beverages 1.6% | |||||
The Boston Beer Company, Inc., Class A (A) | 19,632 | 9,158,524 | |||
Household products 1.1% | |||||
Central Garden & Pet Company, Class A (A) | 211,772 | 6,439,987 | |||
Energy 1.8% | 10,369,534 | ||||
Oil, gas and consumable fuels 1.8% | |||||
Magnolia Oil & Gas Corp., Class A (A) | 865,657 | 5,600,801 | |||
PDC Energy, Inc. (A) | 367,108 | 4,768,733 | |||
Financials 9.6% | 54,945,568 | ||||
Banks 7.1% | |||||
Atlantic Union Bankshares Corp. | 183,122 | 4,371,122 | |||
Banner Corp. | 163,017 | 6,264,743 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SMALL CAP CORE FUND | 8 |
Shares | Value | ||||
Financials (continued) | |||||
Banks (continued) | |||||
First Community Corp. | 230,230 | $3,568,565 | |||
Independent Bank Group, Inc. | 253,266 | 7,676,492 | |||
Pinnacle Financial Partners, Inc. | 167,671 | 6,748,758 | |||
South State Corp. | 99,545 | 5,757,683 | |||
Univest Financial Corp. | 361,278 | 6,394,621 | |||
Capital markets 1.4% | |||||
Moelis & Company, Class A | 263,225 | 7,862,531 | |||
Insurance 1.1% | |||||
First American Financial Corp. | 136,623 | 6,301,053 | |||
Health care 18.3% | 104,766,008 | ||||
Biotechnology 3.8% | |||||
DBV Technologies SA, ADR (A) | 211,771 | 1,317,216 | |||
Emergent BioSolutions, Inc. (A) | 142,803 | 10,560,282 | |||
Ligand Pharmaceuticals, Inc. (A) | 35,292 | 3,478,732 | |||
Retrophin, Inc. (A) | 298,365 | 4,541,115 | |||
Stemline Therapeutics, Inc. (A) | 344,497 | 1,801,719 | |||
Health care equipment and supplies 7.6% | |||||
AngioDynamics, Inc. (A) | 547,766 | 5,713,199 | |||
AtriCure, Inc. (A) | 106,508 | 4,592,625 | |||
Cutera, Inc. (A) | 129,898 | 1,747,128 | |||
Integer Holdings Corp. (A) | 53,528 | 3,985,695 | |||
Integra LifeSciences Holdings Corp. (A) | 169,120 | 8,633,576 | |||
Merit Medical Systems, Inc. (A) | 152,429 | 6,222,152 | |||
SeaSpine Holdings Corp. (A) | 444,992 | 4,583,418 | |||
The Cooper Companies, Inc. | 28,669 | 8,219,402 | |||
Health care providers and services 1.8% | |||||
The Providence Service Corp. (A) | 180,364 | 10,462,916 | |||
Health care technology 0.7% | |||||
Change Healthcare, Inc. (A) | 342,260 | 3,983,906 | |||
Life sciences tools and services 3.3% | |||||
Bio-Rad Laboratories, Inc., Class A (A) | 12,429 | 5,470,003 | |||
PRA Health Sciences, Inc. (A) | 78,953 | 7,618,965 | |||
Syneos Health, Inc. (A) | 100,024 | 5,580,339 | |||
Pharmaceuticals 1.1% | |||||
Prestige Consumer Healthcare, Inc. (A) | 100,303 | 4,081,329 | |||
Recro Pharma, Inc. (A) | 256,772 | 2,172,291 | |||
Industrials 13.7% | 78,086,778 | ||||
Building products 1.0% | |||||
Armstrong World Industries, Inc. | 73,002 | 5,626,994 |
9 | JOHN HANCOCK SMALL CAP CORE FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Industrials (continued) | |||||
Commercial services and supplies 1.2% | |||||
UniFirst Corp. | 39,987 | $6,723,814 | |||
Construction and engineering 3.2% | |||||
EMCOR Group, Inc. | 127,502 | 8,100,202 | |||
Quanta Services, Inc. | 280,278 | 10,190,908 | |||
Electrical equipment 2.7% | |||||
Regal Beloit Corp. | 119,920 | 8,515,519 | |||
Vicor Corp. (A) | 131,244 | 6,978,243 | |||
Machinery 2.7% | |||||
Kennametal, Inc. | 295,765 | 7,574,542 | |||
The Timken Company | 210,147 | 7,897,324 | |||
Trading companies and distributors 2.9% | |||||
Applied Industrial Technologies, Inc. | 187,899 | 9,844,029 | |||
Watsco, Inc. | 41,215 | 6,635,203 | |||
Information technology 24.5% | 140,190,444 | ||||
IT services 1.4% | |||||
WNS Holdings, Ltd., ADR (A) | 166,542 | 8,135,577 | |||
Semiconductors and semiconductor equipment 9.7% | |||||
Ambarella, Inc. (A) | 128,498 | 6,756,425 | |||
Camtek, Ltd. | 344,987 | 3,632,713 | |||
DSP Group, Inc. (A) | 530,155 | 9,145,174 | |||
Kulicke & Soffa Industries, Inc. | 258,383 | 6,193,441 | |||
Lattice Semiconductor Corp. (A) | 413,739 | 9,313,265 | |||
Silicon Motion Technology Corp., ADR | 134,564 | 5,912,742 | |||
Synaptics, Inc. (A) | 96,713 | 6,324,063 | |||
Tower Semiconductor, Ltd. (A) | 431,259 | 8,295,267 | |||
Software 11.9% | |||||
Box, Inc., Class A (A) | 263,002 | 4,244,852 | |||
Cloudera, Inc. (A) | 662,549 | 5,485,906 | |||
CommVault Systems, Inc. (A) | 168,118 | 7,176,957 | |||
j2 Global, Inc. | 114,066 | 9,198,282 | |||
Mimecast, Ltd. (A) | 164,461 | 6,726,455 | |||
MobileIron, Inc. (A) | 1,141,820 | 5,811,864 | |||
Pluralsight, Inc., Class A (A) | 184,539 | 3,033,821 | |||
Progress Software Corp. | 239,421 | 9,794,713 | |||
SailPoint Technologies Holdings, Inc. (A) | 253,218 | 4,707,323 | |||
Tenable Holdings, Inc. (A) | 277,539 | 7,232,666 | |||
Varonis Systems, Inc. (A) | 65,078 | 4,363,480 | |||
Technology hardware, storage and peripherals 1.5% | |||||
Super Micro Computer, Inc. (A) | 380,151 | 8,705,458 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SMALL CAP CORE FUND | 10 |
Shares | Value | ||||
Materials 3.3% | $19,065,411 | ||||
Chemicals 0.9% | |||||
Valvoline, Inc. | 314,870 | 5,412,615 | |||
Containers and packaging 1.7% | |||||
Graphic Packaging Holding Company | 725,137 | 9,680,579 | |||
Metals and mining 0.7% | |||||
Kaiser Aluminum Corp. | 54,994 | 3,972,217 | |||
Real estate 6.5% | 37,009,526 | ||||
Equity real estate investment trusts 6.5% | |||||
American Assets Trust, Inc. | 335,069 | 9,489,154 | |||
EastGroup Properties, Inc. | 80,200 | 8,501,200 | |||
First Industrial Realty Trust, Inc. | 253,612 | 9,578,925 | |||
Physicians Realty Trust | 612,208 | 9,440,247 | |||
Utilities 0.6% | 3,340,735 | ||||
Multi-utilities 0.6% | |||||
Unitil Corp. | 66,403 | 3,340,735 | |||
Yield (%) | Shares | Value | |||
Short-term investments 3.6% | $20,626,900 | ||||
(Cost $20,626,900) | |||||
Short-term funds 3.6% | 20,626,900 | ||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 0.2162(C) | 20,626,900 | 20,626,900 |
Total investments (Cost $582,030,745) 100.0% | $572,331,895 | ||||
Other assets and liabilities, net (0.0%) | (208,650) | ||||
Total net assets 100.0% | $572,123,245 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
Security Abbreviations and Legend | |
ADR | American Depositary Receipt |
(A) | Non-income producing security. |
(B) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
(C) | The rate shown is the annualized seven-day yield as of 4-30-20. |
11 | JOHN HANCOCK SMALL CAP CORE FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Financial statements |
Assets | |
Unaffiliated investments, at value (Cost $582,030,745) | $572,331,895 |
Foreign currency, at value (Cost $82,904) | 83,706 |
Dividends and interest receivable | 108,200 |
Receivable for fund shares sold | 471,848 |
Receivable for investments sold | 3,753,734 |
Other assets | 81,316 |
Total assets | 576,830,699 |
Liabilities | |
Payable for investments purchased | 4,227,567 |
Payable for fund shares repurchased | 335,563 |
Payable to affiliates | |
Accounting and legal services fees | 24,157 |
Transfer agent fees | 21,911 |
Trustees' fees | 1,076 |
Other liabilities and accrued expenses | 97,180 |
Total liabilities | 4,707,454 |
Net assets | $572,123,245 |
Net assets consist of | |
Paid-in capital | $626,532,497 |
Total distributable earnings (loss) | (54,409,252) |
Net assets | $572,123,245 |
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 ($201,452,637 ÷ 19,059,911 shares)1 | $10.57 |
Class I ($20,374,794 ÷ 1,925,381 shares) | $10.58 |
Class R6 ($75,142,861 ÷ 7,087,393 shares) | $10.60 |
Class NAV ($275,152,953 ÷ 25,967,810 shares) | $10.60 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $11.13 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Small Cap Core Fund | 12 |
Investment income | |
Dividends | $3,834,353 |
Non-cash dividends | 816,059 |
Interest | 67,863 |
Less foreign taxes withheld | (14,725) |
Total investment income | 4,703,550 |
Expenses | |
Investment management fees | 2,552,292 |
Distribution and service fees | 273,087 |
Accounting and legal services fees | 52,049 |
Transfer agent fees | 157,447 |
Trustees' fees | 5,517 |
Custodian fees | 40,863 |
State registration fees | 35,587 |
Printing and postage | 27,612 |
Professional fees | 26,769 |
Other | 25,803 |
Total expenses | 3,197,026 |
Less expense reductions | (21,685) |
Net expenses | 3,175,341 |
Net investment income | 1,528,209 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | (18,683,484) |
(18,683,484) | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | (41,811,016) |
(41,811,016) | |
Net realized and unrealized loss | (60,494,500) |
Decrease in net assets from operations | $(58,966,291) |
13 | JOHN HANCOCK Small Cap Core Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Six months ended 4-30-20 (unaudited) | Year ended 10-31-19 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $1,528,209 | $660,124 |
Net realized loss | (18,683,484) | (25,966,794) |
Change in net unrealized appreciation (depreciation) | (41,811,016) | 73,556,178 |
Increase (decrease) in net assets resulting from operations | (58,966,291) | 48,249,508 |
Distributions to shareholders | ||
Class A | — | (10,724,311) |
Class I | — | (1,125,891) |
Class R6 | — | (3,969,480) |
Class NAV | — | (7,643,165) |
Total distributions | — | (23,462,847) |
From fund share transactions | (13,450,038) | 112,987,646 |
Total increase (decrease) | (72,416,329) | 137,774,307 |
Net assets | ||
Beginning of period | 644,539,574 | 506,765,267 |
End of period | $572,123,245 | $644,539,574 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Small Cap Core Fund | 14 |
Financial highlights |
CLASS A SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-172 | 10-31-15 |
Per share operating performance | |||||
Net asset value, beginning of period | $11.78 | $11.42 | $13.82 | $12.86 | $10.06 |
Net investment income (loss)3 | 0.02 | (0.01) | (0.01) | —4 | (0.01) |
Net realized and unrealized gain (loss) on investments | (1.23) | 0.89 | (0.89) | 0.96 | (0.06) |
Total from investment operations | (1.21) | 0.88 | (0.90) | 0.96 | (0.07) |
Less distributions | |||||
From net realized gain | — | (0.52) | (1.50) | — | (0.20) |
Net asset value, end of period | $10.57 | $11.78 | $11.42 | $13.82 | $9.79 |
Total return (%)5,6 | (10.27)7 | 8.45 | (7.59) | 7.477 | (0.65) |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $201 | $235 | $240 | $1 | $—8 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.309 | 1.29 | 1.37 | 1.419 | 1.40 |
Expenses including reductions | 1.299 | 1.29 | 1.36 | 1.409 | 1.40 |
Net investment income (loss) | 0.289 | (0.10) | (0.07) | —9,10 | (0.06) |
Portfolio turnover (%) | 41 | 72 | 10211 | 6812 | 68 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 8-30-17 (relaunch date) to 10-31-17. Class A liquidated on 3-10-16, accordingly, there were no shares of this class outstanding 10-31-16. |
3 | Based on average daily shares outstanding. |
4 | Less than $0.005 per share. |
5 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
6 | Does not reflect the effect of sales charges, if any. |
7 | Not annualized. |
8 | Less than $500,000. |
9 | Annualized. |
10 | Less than 0.005%. |
11 | Excludes merger activity. |
12 | Portfolio turnover is shown for the period from 11-1-16 to 10-31-17. |
15 | JOHN HANCOCK Small Cap Core Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS I SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $11.78 | $11.41 | $13.82 | $10.98 | $9.85 | $10.08 |
Net investment income2 | 0.03 | 0.02 | 0.02 | 0.05 | 0.06 | 0.03 |
Net realized and unrealized gain (loss) on investments | (1.23) | 0.89 | (0.90) | 2.88 | 1.21 | (0.06) |
Total from investment operations | (1.20) | 0.91 | (0.88) | 2.93 | 1.27 | (0.03) |
Less distributions | ||||||
From net investment income | — | (0.02) | (0.03) | (0.09) | (0.04) | — |
From net realized gain | — | (0.52) | (1.50) | — | (0.10) | (0.20) |
Total distributions | — | (0.54) | (1.53) | (0.09) | (0.14) | (0.20) |
Net asset value, end of period | $10.58 | $11.78 | $11.41 | $13.82 | $10.98 | $9.85 |
Total return (%)3 | (10.19)4 | 8.79 | (7.48) | 26.79 | 13.18 | (0.35) |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $20 | $25 | $29 | $1 | $1 | $—5 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.056 | 1.05 | 1.13 | 1.15 | 1.09 | 1.09 |
Expenses including reductions | 1.046 | 1.04 | 1.12 | 1.14 | 1.09 | 1.09 |
Net investment income | 0.536 | 0.14 | 0.19 | 0.41 | 0.60 | 0.28 |
Portfolio turnover (%) | 41 | 72 | 1027 | 68 | 59 | 68 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Less than $500,000. |
6 | Annualized. |
7 | Excludes merger activity. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Small Cap Core Fund | 16 |
CLASS R6 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-172 |
Per share operating performance | ||||
Net asset value, beginning of period | $11.79 | $11.43 | $13.83 | $12.86 |
Net investment income3 | 0.04 | 0.03 | 0.04 | 0.01 |
Net realized and unrealized gain (loss) on investments | (1.23) | 0.89 | (0.90) | 0.96 |
Total from investment operations | (1.19) | 0.92 | (0.86) | 0.97 |
Less distributions | ||||
From net investment income | — | (0.04) | (0.04) | — |
From net realized gain | — | (0.52) | (1.50) | — |
Total distributions | — | (0.56) | (1.54) | — |
Net asset value, end of period | $10.60 | $11.79 | $11.43 | $13.83 |
Total return (%)4 | (10.09)5 | 8.83 | (7.30) | 7.545 |
Ratios and supplemental data | ||||
Net assets, end of period (in millions) | $75 | $86 | $82 | $—6 |
Ratios (as a percentage of average net assets): | ||||
Expenses before reductions | 0.937 | 0.94 | 1.02 | 1.057 |
Expenses including reductions | 0.937 | 0.93 | 1.01 | 1.047 |
Net investment income | 0.647 | 0.25 | 0.29 | 0.457 |
Portfolio turnover (%) | 41 | 72 | 1028 | 689 |
1 | Six months ended 4-30-20. Unaudited. |
2 | The inception date for Class R6 shares is 8-30-17. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Not annualized. |
6 | Less than $500,000. |
7 | Annualized. |
8 | Excludes merger activity. |
9 | Portfolio turnover is shown for the period from 11-1-16 to 10-31-17. |
17 | JOHN HANCOCK Small Cap Core Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS NAV SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $11.79 | $11.42 | $13.83 | $10.98 | $9.85 | $10.09 |
Net investment income2 | 0.04 | 0.03 | 0.04 | 0.06 | 0.07 | 0.04 |
Net realized and unrealized gain (loss) on investments | (1.23) | 0.90 | (0.91) | 2.89 | 1.21 | (0.07) |
Total from investment operations | (1.19) | 0.93 | (0.87) | 2.95 | 1.28 | (0.03) |
Less distributions | ||||||
From net investment income | — | (0.04) | (0.04) | (0.10) | (0.05) | (0.01) |
From net realized gain | — | (0.52) | (1.50) | — | (0.10) | (0.20) |
Total distributions | — | (0.56) | (1.54) | (0.10) | (0.15) | (0.21) |
Net asset value, end of period | $10.60 | $11.79 | $11.42 | $13.83 | $10.98 | $9.85 |
Total return (%)3 | (10.09)4 | 8.94 | (7.36) | 27.00 | 13.21 | (0.23) |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $275 | $298 | $156 | $176 | $138 | $153 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.925 | 0.93 | 1.01 | 1.04 | 0.98 | 0.98 |
Expenses including reductions | 0.915 | 0.92 | 1.00 | 1.03 | 0.97 | 0.97 |
Net investment income | 0.655 | 0.26 | 0.32 | 0.49 | 0.74 | 0.37 |
Portfolio turnover (%) | 41 | 72 | 1026 | 68 | 59 | 68 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
6 | Excludes merger activity. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Small Cap Core Fund | 18 |
Notes to financial statements (unaudited) |
19 | JOHN HANCOCK Small Cap Core Fund | SEMIANNUAL REPORT |
Total value at 4-30-20 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Communication services | $38,541,713 | $32,567,446 | $5,974,267 | — |
Consumer discretionary | 49,790,767 | 49,790,767 | — | — |
Consumer staples | 15,598,511 | 15,598,511 | — | — |
Energy | 10,369,534 | 10,369,534 | — | — |
Financials | 54,945,568 | 54,945,568 | — | — |
Health care | 104,766,008 | 104,766,008 | — | — |
Industrials | 78,086,778 | 78,086,778 | — | — |
Information technology | 140,190,444 | 140,190,444 | — | — |
Materials | 19,065,411 | 19,065,411 | — | — |
Real estate | 37,009,526 | 37,009,526 | — | — |
Utilities | 3,340,735 | 3,340,735 | — | — |
Short-term investments | 20,626,900 | 20,626,900 | — | — |
Total investments in securities | $572,331,895 | $566,357,628 | $5,974,267 | — |
SEMIANNUAL REPORT | JOHN HANCOCK Small Cap Core Fund | 20 |
21 | JOHN HANCOCK Small Cap Core Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Small Cap Core Fund | 22 |
Class | Expense reduction |
Class A | $7,886 |
Class I | 875 |
Class R6 | 2,906 |
Class | Expense reduction |
Class NAV | $10,018 |
Total | $21,685 |
Class | Rule 12b-1 Fee |
Class A | 0.25% |
23 | JOHN HANCOCK Small Cap Core Fund | SEMIANNUAL REPORT |
Class | Distribution and service fees | Transfer agent fees |
Class A | $273,087 | $137,014 |
Class I | — | 15,119 |
Class R6 | — | 5,314 |
Total | $273,087 | $157,447 |
Six Months Ended 4-30-20 | Year Ended 10-31-19 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 1,489,066 | $16,381,343 | 2,725,524 | $30,358,218 |
Distributions reinvested | — | — | 1,052,461 | 10,661,434 |
Repurchased | (2,393,996) | (27,028,986) | (4,832,170) | (54,031,131) |
Net decrease | (904,930) | $(10,647,643) | (1,054,185) | $(13,011,479) |
Class I shares | ||||
Sold | 497,980 | $5,471,420 | 994,514 | $11,211,008 |
Distributions reinvested | — | — | 110,758 | 1,119,763 |
Repurchased | (730,589) | (7,824,035) | (1,473,331) | (16,459,935) |
Net decrease | (232,609) | $(2,352,615) | (368,059) | $(4,129,164) |
Class R6 shares | ||||
Sold | 1,243,717 | $13,469,330 | 2,190,766 | $24,498,720 |
Distributions reinvested | — | — | 391,155 | 3,954,577 |
Repurchased | (1,440,626) | (16,453,582) | (2,436,718) | (27,396,840) |
Net increase (decrease) | (196,909) | $(2,984,252) | 145,203 | $1,056,457 |
SEMIANNUAL REPORT | JOHN HANCOCK Small Cap Core Fund | 24 |
Six Months Ended 4-30-20 | Year Ended 10-31-19 | |||
Shares | Amount | Shares | Amount | |
Class NAV shares | ||||
Sold | 2,174,692 | $20,679,970 | 14,336,991 | $161,545,994 |
Distributions reinvested | — | — | 756,000 | 7,643,165 |
Repurchased | (1,491,439) | (18,145,498) | (3,500,381) | (40,117,327) |
Net increase | 683,253 | $2,534,472 | 11,592,610 | $129,071,832 |
Total net increase (decrease) | (651,195) | $(13,450,038) | 10,315,569 | $112,987,646 |
Portfolio | Affiliated Concentration |
JHF II Multimanager Lifestyle Growth Portfolio | 23.3% |
JHF II Multimanager Lifestyle Balanced Portfolio | 15.0% |
JHF II Multimanager Lifestyle Aggressive Portfolio | 9.9% |
25 | JOHN HANCOCK Small Cap Core Fund | SEMIANNUAL REPORT |
STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT
Operation of the Liquidity Risk Management Program
This section describes operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock Small Cap Core Fund, subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Fund's subadvisor, Manulife Investment Management (US) LLC (the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.
The Committee holds monthly meetings to: (1) review the day-to-day operations of the LRMP; (2) review and approve month end liquidity classifications; (3) review quarterly testing and determinations, as applicable; and (4) review other LRMP related material. The Committee also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Committee may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity and valuation issues.
The Committee provided the Board at a meeting held on March 15-17, 2020 with a written report which addressed the Committee's assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period December 1, 2018 through December 31, 2019, included an assessment of important aspects of the LRMP including, but not limited to:
• Operation of the Fund's Redemption-In-Kind Procedures;
• Highly Liquid Investment Minimum (HLIM) determination;
• Compliance with the 15% limit on illiquid investments;
• Reasonably Anticipated Trade Size (RATS) determination;
• Security-level liquidity classifications; and
• Liquidity risk assessment.
The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee's actions to address such matters.
Redemption-In-Kind Procedures
Rule 22e-4 requires any fund that engages in or reserves the right to engage in in-kind redemptions to adopt and implement written policies and procedures regarding in-kind redemptions as part of the management of its liquidity risk. These procedures address the process for redeeming in kind, as well as the circumstances under which the Fund would consider redeeming in kind. Anticipated large redemption activity will be evaluated to identify situations where redeeming in securities instead of cash may be appropriate.
As part of its annual assessment of the LRMP, the Committee reviewed the implementation and operation of the Redemption-In-Kind Procedures and determined they are operating in a manner that such procedures are adequate and effective to manage in-kind redemptions on behalf of the Fund as part of the LRMP.
Highly Liquid Investment Minimum determination
The Committee uses an HLIM model to determine a Fund's HLIM. This process incorporates the Fund's investment strategy, historical redemptions, liquidity classification rollup percentages and cash balances, redemption policy, access to funding sources, distribution channels and client concentrations. If the Fund falls below its established HLIM for a period greater than 7 consecutive calendar days, the Committee prepares a report to the Board within one business day following the seventh consecutive calendar day with an explanation of how the Fund plans to restore its HLIM within a reasonable period of time.
Based on the HLIM model, the Committee has determined that the Fund qualifies as a Primarily Highly Liquid Fund (PHLF). It is therefore not required to establish a HLIM. The Fund is tested quarterly to confirm its PHLF status.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to HLIM and PHLF determinations, and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Compliance with the 15% limit on illiquid investments
Rule 22e-4 sets an aggregate illiquid investment limit of 15% for a fund. Funds are prohibited from acquiring an illiquid investment if this results in greater than 15% of its net assets being classified as illiquid. When applying this limit, the Committee defines "illiquid investment" to mean any investment that the Fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. If a 15% illiquid investment limit breach occurs for longer than 1 business day, the Fund is required to notify the Board and provide a plan on how to bring illiquid investments within the 15% threshold, and after 7 days confidentially notify the Securities and Exchange Commission (the SEC).
In February 2019, as a result of extended security markets closures in connection with the Chinese New Year in certain countries, the SEC released guidance, and the Committee approved and adopted an Extended Market Holiday Policy to plan for and monitor known Extended Market Holidays (defined as all expected market holiday closures spanning four or more calendar days).
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to the 15% illiquid investment limit and determined such policies and procedures are operating in a manner that is adequate and effective as part of the LMRP.
Reasonably Anticipated Trade Size determination
In order to assess the liquidity risk of a Fund, the Committee considers the impact on the Fund that redemptions of a RATS would have under both normal and reasonably foreseeable stressed conditions. Modelling the Fund's RATS requires quantifying cash flow volatility and analyzing distribution channel concentration and redemption risk. The model is designed to estimate the amount of assets that the Fund could reasonably anticipate trading on a given day, during both normal and reasonably foreseeable stressed conditions, to satisfy redemption requests.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to RATS determinations and determined that such policies and procedures are operating in a manner that is adequate and effective at making RATS determinations as part of the LRMP.
Security-level liquidity classifications
When classifying the liquidity of portfolio securities, the Fund adheres to the liquidity classification procedures established by the Advisor. In assigning a liquidity classification to Fund portfolio holdings, the following key inputs, among others, are considered: the Fund's RATS, feedback from the applicable Subadvisor on market-, trading- and investment-specific considerations, an assessment of current market conditions and fund portfolio holdings, and a value impact standard. The Subadvisor also provides position-level data to the Committee for use in monthly classification reconciliation in order to identify any classifications that may need to be changed as a result of the above considerations.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to security-level liquidity classifications and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Liquidity risk assessment
The Committee periodically reviews and assesses, the Fund's liquidity risk, including its investment strategy and liquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions (including whether the investment strategy is appropriate for an open-end fund, the extent to which the strategy involves a relatively concentrated portfolio or large positions in particular issuers, and the use of borrowings for investment purposes and derivatives), cash flow analysis during both normal and reasonably foreseeable stressed conditions, and holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.
The Committee also monitors global events, such as the COVID-19 Coronavirus, that could impact the markets and liquidity of portfolio investments and their classifications.
As part of its annual assessment of the LRMP, the Committee reviewed Fund-Level Liquidity Risk Assessment Reports for each of the Funds and determined that the investment strategy for each Fund continues to be appropriate for an open-ended structure.
Adequacy and Effectiveness
Based on the review and assessment conducted by the Committee, the Committee has determined that the LRMP has been implemented, and is operating in a manner that is adequate and effective at assessing and managing the liquidity risk of each Fund.
Trustees Hassell H. McClellan,Chairperson Officers Andrew G. Arnott Francis V. Knox, Jr. Charles A. Rizzo Salvatore Schiavone Christopher (Kit) Sechler | Investment advisor John Hancock Investment Management LLC Subadvisor Manulife Investment Management (US) LLC Portfolio Manager Bill Talbot, CFA Principal distributor John Hancock Investment Management Distributors LLC Custodian State Street Bank and Trust Company Transfer agent John Hancock Signature Services, Inc. Legal counsel K&L Gates LLP |
* Member of the Audit Committee
† Non-Independent Trustee
The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund's holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund's Form N-PORT filings are available on our website and the SEC's website, sec.gov.
We make this information on your fund, as well asmonthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
You can also contact us: | |||
800-225-5291 jhinvestments.com | Regular mail: John Hancock Signature Services, Inc. | Express mail: John Hancock Signature Services, Inc. |
John Hancock family of funds
DOMESTIC EQUITY FUNDS Blue Chip Growth Classic Value Disciplined Value Disciplined Value Mid Cap Equity Income Financial Industries Fundamental All Cap Core Fundamental Large Cap Core New Opportunities Regional Bank Small Cap Core Small Cap Growth Small Cap Value U.S. Global Leaders Growth U.S. Quality Growth GLOBAL AND INTERNATIONAL EQUITY FUNDS Disciplined Value International Emerging Markets Emerging Markets Equity Fundamental Global Franchise Global Equity Global Shareholder Yield Global Thematic Opportunities International Dynamic Growth International Growth International Small Company | INCOME FUNDS Bond California Tax-Free Income Emerging Markets Debt Floating Rate Income Government Income High Yield High Yield Municipal Bond Income Investment Grade Bond Money Market Short Duration Bond Short Duration Credit Opportunities Strategic Income Opportunities Tax-Free Bond ALTERNATIVE AND SPECIALTY FUNDS Absolute Return Currency Alternative Asset Allocation Alternative Risk Premia Diversified Macro Infrastructure Multi-Asset Absolute Return Seaport Long/Short |
A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
ASSET ALLOCATION Balanced Multi-Asset High Income Multi-Index Lifetime Portfolios Multi-Index Preservation Portfolios Multimanager Lifestyle Portfolios Multimanager Lifetime Portfolios Retirement Income 2040 EXCHANGE-TRADED FUNDS John Hancock Multifactor Consumer Discretionary ETF John Hancock Multifactor Consumer Staples ETF John Hancock Multifactor Developed International ETF John Hancock Multifactor Emerging Markets ETF John Hancock Multifactor Energy ETF John Hancock Multifactor Financials ETF John Hancock Multifactor Healthcare ETF John Hancock Multifactor Industrials ETF John Hancock Multifactor Large Cap ETF John Hancock Multifactor Materials ETF John Hancock Multifactor Media and John Hancock Multifactor Mid Cap ETF John Hancock Multifactor Small Cap ETF John Hancock Multifactor Technology ETF John Hancock Multifactor Utilities ETF | ENVIRONMENTAL, SOCIAL, AND ESG All Cap Core ESG Core Bond ESG International Equity ESG Large Cap Core CLOSED-END FUNDS Financial Opportunities Hedged Equity & Income Income Securities Trust Investors Trust Preferred Income Preferred Income II Preferred Income III Premium Dividend Tax-Advantaged Dividend Income Tax-Advantaged Global Shareholder Yield |
John Hancock Multifactor ETF shares are bought and sold at market price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Investment Management Distributors LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock Multifactor ETFs.
John Hancock Investment Management
A trusted brand
John Hancock Investment Management is a premier asset manager
representing one of America's most trusted brands, with a heritage of
financial stewardship dating back to 1862. Helping our shareholders
pursue their financial goals is at the core of everything we do. It's why
we support the role of professional financial advice and operate with
the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world's best
managers, along with strong risk-adjusted returns across asset classes.
John Hancock Investment Management Distributors LLC n Member FINRA, SIPC
200 Berkeley Street n Boston, MA 02116-5010 n 800-225-5291 n jhinvestments.com
This report is for the information of the shareholders of John Hancock Small Cap Core Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF1182637 | 445SA 4/20 6/2020 |
John Hancock
Infrastructure Fund
Semiannual report 4/30/2020
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the fund's shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change, and you do not need to take any action. You may elect to receive shareholder reports and other communications electronically by calling John Hancock Investment Management at 800-225-5291 (Class A and Class C shares) or 888-972-8696 (Class I and Class R6 shares) or by contacting your financial intermediary.
You may elect to receive all reports in paper, free of charge, at any time. You can inform John Hancock Investment Management or your financial intermediary that you wish to continue receiving paper copies of your shareholder reports by following the instructions listed above. Your election to receive reports in paper will apply to all funds held with John Hancock Investment Management or your financial intermediary.
A message to shareholders
Dear shareholder,
Global financial markets were on pace to deliver strong returns during the 6 months ended April 30, 2020, until heightened fears over the coronavirus (COVID-19) sent markets tumbling during the latter half of February and early March.In response to the sell-off, governments and banks in some of the hardest hit areas throughout the world enacted policies and stimulus efforts designed to reignite their respective economies. While these measures helped lift equity and fixed-income markets in the United States during the final six weeks of the period, results were mixed in other areas of the world.
The continued spread of COVID-19, trade disputes, rising unemployment, and other geopolitical tensions may continue to create uncertainty among businesses and investors. Your financial professional can helpposition your portfolio so that it's sufficiently diversified to seek to meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I'd like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you've placed in us.
Sincerely,
Andrew G. Arnott
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO's views as of this report's period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
Infrastructure Fund
INVESTMENT OBJECTIVE
The fund seeks total return from capital appreciation and income, with an emphasis on absolute returns over a full market cycle.
AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2020 (%)
The MSCI All Country World Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets and emerging markets.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower. Since inception returns for the Morningstar fund category average are not available.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus. The fund recently experienced negative short-term performance due to market volatility associated with the COVID-19 pandemic.
SECTOR COMPOSITION AS OF 4/30/2020 (%)
TOP 10 HOLDINGS AS OF 4/30/2020 (%)
American Tower Corp. | 4.3 |
China Tower Corp., Ltd., H Shares | 4.1 |
National Grid PLC | 4.0 |
KDDI Corp. | 3.9 |
Edison International | 3.8 |
Comcast Corp., Class A | 3.7 |
Iberdrola SA | 3.6 |
TC Energy Corp. | 3.6 |
Engie SA | 3.5 |
E.ON SE | 3.4 |
TOTAL | 37.9 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
TOP 10 COUNTRIES AS OF 4/30/2020 (%)
United States | 37.0 |
Canada | 9.9 |
China | 9.8 |
France | 6.9 |
Japan | 6.8 |
Hong Kong | 6.7 |
United Kingdom | 5.1 |
Italy | 4.7 |
Spain | 3.6 |
Germany | 3.4 |
TOTAL | 93.9 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
A note about risks
The fund may be subject to various risks as described in the fund's prospectus. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange trading suspensions and closures, impact the ability to complete redemptions, and affect fund performance. For example, the novel coronavirus disease (COVID-19) has resulted in significant disruptions to global business activity. The impact of a health crisis and other epidemics and pandemics that may arise in the future, could affect the global economy in ways that cannot necessarily be foreseen at the present time. A health crisis may exacerbate other pre-existing political, social, and economic risks. Any such impact could adversely affect the funds' performance, resulting in losses to your investment. For more information, please refer to the "Principal risks" section of the prospectus.
TOTAL RETURNS FOR THE PERIOD ENDED APRIL 30, 2020
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | ||||||
1-year | 5-year | Since inception1 | 6-month | 5-year | Since inception1 | ||
Class A | -9.40 | 2.47 | 4.07 | -14.71 | 12.95 | 28.87 | |
Class C2 | -6.22 | 2.77 | 4.21 | -11.47 | 14.64 | 29.97 | |
Class I3 | -4.33 | 3.81 | 5.21 | -10.13 | 20.58 | 38.14 | |
Class R63 | -4.23 | 3.93 | 5.33 | -10.06 | 21.26 | 39.15 | |
Class NAV3 | -4.22 | 3.94 | 5.35 | -10.06 | 21.30 | 39.29 | |
Index† | -4.96 | 4.37 | 5.34 | -7.68 | 23.82 | 39.20 |
Performance figures assume all distributions have been reinvested. Figures reflect maximum sales charges on Class A shares of 5% and the applicable contingent deferred sales charge (CDSC) on Class C shares. Class C shares sold within one year of purchase are subject to a 1% CDSC. Sales charges are not applicable to Class I, Class R6, and Class NAV shares.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectuses for the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until February 28, 2021 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Class A | Class C | Class I | Class R6 | Class NAV | |
Gross (%) | 1.35 | 2.05 | 1.05 | 0.94 | 0.93 |
Net (%) | 1.31 | 2.01 | 1.00 | 0.92 | 0.92 |
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.
The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.
The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.
† | Index is the MSCI All Country World Index. |
See the following page for footnotes.
This chart and table show what happened to a hypothetical $10,000 investment in John Hancock Infrastructure Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in the MSCI All Country World Index.
Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class C2,4 | 12-20-13 | 12,997 | 12,997 | 13,920 |
Class I3 | 12-20-13 | 13,814 | 13,814 | 13,920 |
Class R63 | 12-20-13 | 13,915 | 13,915 | 13,920 |
Class NAV3 | 12-20-13 | 13,929 | 13,929 | 13,920 |
The MSCI All Country World Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets and emerging markets.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Footnotes related to performance pages
1 | From 12-20-13 |
2 | Class C shares were first offered on 5-16-14. Returns prior to this date are those of Class A shares that have not been adjusted for class-specific expenses; otherwise, returns would vary. |
3 | For certain types of investors, as described in the fund's prospectuses. |
4 | The contingent deferred sales charge is not applicable. |
Your expenses |
SEMIANNUAL REPORT | JOHN HANCOCK INFRASTRUCTURE FUND | 7 |
Account value on 11-1-2019 | Ending value on 4-30-2020 | Expenses paid during period ended 4-30-20201 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $897.80 | $6.13 | 1.30% |
Hypothetical example | 1,000.00 | 1,018.40 | 6.52 | 1.30% | |
Class C | Actual expenses/actual returns | 1,000.00 | 893.90 | 9.42 | 2.00% |
Hypothetical example | 1,000.00 | 1,014.90 | 10.02 | 2.00% | |
Class I | Actual expenses/actual returns | 1,000.00 | 898.70 | 4.72 | 1.00% |
Hypothetical example | 1,000.00 | 1,019.90 | 5.02 | 1.00% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 899.40 | 4.20 | 0.89% |
Hypothetical example | 1,000.00 | 1,020.40 | 4.47 | 0.89% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 899.40 | 4.11 | 0.87% |
Hypothetical example | 1,000.00 | 1,020.50 | 4.37 | 0.87% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period). |
8 | JOHN HANCOCK INFRASTRUCTURE FUND | SEMIANNUAL REPORT |
Fund’s investments |
Shares | Value | ||||
Common stocks 95.0% | $399,895,693 | ||||
(Cost $413,598,290) | |||||
Brazil 1.1% | 4,482,696 | ||||
Cia de Saneamento do Parana | 948,500 | 4,482,696 | |||
Canada 9.9% | 41,459,681 | ||||
Canadian National Railway Company | 166,373 | 13,758,537 | |||
Enbridge, Inc. | 409,290 | 12,540,837 | |||
TC Energy Corp. | 329,416 | 15,160,307 | |||
China 9.8% | 41,201,861 | ||||
China Longyuan Power Group Corp., Ltd., H Shares | 26,025,786 | 13,008,448 | |||
China Tower Corp., Ltd., H Shares (A)(B) | 77,442,000 | 17,234,269 | |||
ENN Energy Holdings, Ltd. | 972,205 | 10,959,144 | |||
France 6.9% | 29,185,849 | ||||
Engie SA | 1,363,683 | 14,795,361 | |||
Vinci SA | 175,661 | 14,390,488 | |||
Germany 3.4% | 14,430,755 | ||||
E.ON SE | 1,440,588 | 14,430,755 | |||
Hong Kong 6.7% | 28,228,033 | ||||
Beijing Enterprises Holdings, Ltd. | 2,375,510 | 8,415,451 | |||
CK Infrastructure Holdings, Ltd. | 2,206,600 | 13,107,229 | |||
Guangdong Investment, Ltd. | 3,226,106 | 6,705,353 | |||
Italy 4.7% | 19,729,040 | ||||
Enel SpA | 2,023,567 | 13,821,860 | |||
Snam SpA | 1,316,836 | 5,907,180 | |||
Japan 6.8% | 28,542,084 | ||||
Japan Airport Terminal Company, Ltd. | 301,000 | 12,206,237 | |||
KDDI Corp. | 564,000 | 16,335,847 | |||
Spain 3.6% | 15,254,545 | ||||
Iberdrola SA | 1,533,463 | 15,254,545 | |||
United Kingdom 5.1% | 21,664,229 | ||||
National Grid PLC | 1,432,282 | 16,784,555 | |||
Severn Trent PLC | 162,615 | 4,879,674 | |||
United States 37.0% | 155,716,920 | ||||
American Tower Corp. | 75,941 | 18,073,958 | |||
Avangrid, Inc. | 272,477 | 11,716,511 | |||
Berkshire Hathaway, Inc., Class B (B) | 62,445 | 11,699,695 | |||
CenterPoint Energy, Inc. | 52,137 | 887,893 | |||
Charter Communications, Inc., Class A (B) | 28,212 | 13,971,429 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK INFRASTRUCTURE FUND | 9 |
Shares | Value | ||||
United States (continued) | |||||
Comcast Corp., Class A | 409,965 | $15,426,983 | |||
Digital Realty Trust, Inc. | 64,269 | 9,607,573 | |||
Duke Energy Corp. | 169,100 | 14,316,006 | |||
Edison International | 274,345 | 16,106,795 | |||
Equity LifeStyle Properties, Inc. | 70,226 | 4,235,330 | |||
Exelon Corp. | 386,697 | 14,338,725 | |||
Medical Properties Trust, Inc. | 327,687 | 5,616,555 | |||
Pinnacle West Capital Corp. | 16,275 | 1,253,012 | |||
Sempra Energy | 104,610 | 12,955,949 | |||
UGI Corp. | 182,588 | 5,510,506 | |||
Par value^ | Value | ||||
Short-term investments 4.5% | $19,000,000 | ||||
(Cost $19,000,000) | |||||
Repurchase agreement 4.5% | 19,000,000 | ||||
Royal Bank of Scotland Tri-Party Repurchase Agreement dated 4-30-20 at 0.020% to be repurchased at $19,000,011 on 5-1-20, collateralized by $18,831,400 U.S. Treasury Notes, 1.625% due 12-31-21 (valued at $19,380,049) | 19,000,000 | 19,000,000 |
Total investments (Cost $432,598,290) 99.5% | $418,895,693 | ||||
Other assets and liabilities, net 0.5% | 2,034,603 | ||||
Total net assets 100.0% | $420,930,296 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
^All par values are denominated in U.S. dollars unless otherwise indicated. | |
Security Abbreviations and Legend | |
(A) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
(B) | Non-income producing security. |
10 | JOHN HANCOCK INFRASTRUCTURE FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Financial statements |
Assets | |
Unaffiliated investments, at value (Cost $432,598,290) | $418,895,693 |
Cash | 199,055 |
Foreign currency, at value (Cost $162,657) | 162,130 |
Dividends and interest receivable | 598,695 |
Receivable for fund shares sold | 1,965,160 |
Receivable for investments sold | 1,671,100 |
Receivable from affiliates | 25 |
Other assets | 91,223 |
Total assets | 423,583,081 |
Liabilities | |
Payable for investments purchased | 1,846,467 |
Payable for fund shares repurchased | 676,940 |
Payable to affiliates | |
Accounting and legal services fees | 23,994 |
Transfer agent fees | 29,802 |
Trustees' fees | 336 |
Other liabilities and accrued expenses | 75,246 |
Total liabilities | 2,652,785 |
Net assets | $420,930,296 |
Net assets consist of | |
Paid-in capital | $429,972,744 |
Total distributable earnings (loss) | (9,042,448) |
Net assets | $420,930,296 |
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 ($31,340,351 ÷ 2,700,471 shares)1 | $11.61 |
Class C ($7,126,395 ÷ 620,810 shares)1 | $11.48 |
Class I ($246,500,197 ÷ 21,220,005 shares) | $11.62 |
Class R6 ($60,350,216 ÷ 5,185,062 shares) | $11.64 |
Class NAV ($75,613,137 ÷ 6,497,885 shares) | $11.64 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $12.22 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Infrastructure Fund | 11 |
Investment income | |
Dividends | $3,965,851 |
Non-cash dividends | 556,684 |
Interest | 117,072 |
Securities lending | 9,428 |
Less foreign taxes withheld | (275,955) |
Total investment income | 4,373,080 |
Expenses | |
Investment management fees | 1,606,431 |
Distribution and service fees | 77,010 |
Accounting and legal services fees | 38,551 |
Transfer agent fees | 178,185 |
Trustees' fees | 3,297 |
Custodian fees | 61,522 |
State registration fees | 49,938 |
Printing and postage | 28,816 |
Professional fees | 20,897 |
Other | 18,576 |
Total expenses | 2,083,223 |
Less expense reductions | (15,029) |
Net expenses | 2,068,194 |
Net investment income | 2,304,886 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | 7,623,925 |
Affiliated investments | (1,822) |
7,622,103 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | (55,172,126) |
Affiliated investments | (262) |
(55,172,388) | |
Net realized and unrealized loss | (47,550,285) |
Decrease in net assets from operations | $(45,245,399) |
12 | JOHN HANCOCK Infrastructure Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Six months ended 4-30-20 (unaudited) | Year ended 10-31-19 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $2,304,886 | $5,203,262 |
Net realized gain | 7,622,103 | 11,106,197 |
Change in net unrealized appreciation (depreciation) | (55,172,388) | 28,276,592 |
Increase (decrease) in net assets resulting from operations | (45,245,399) | 44,586,051 |
Distributions to shareholders | ||
From earnings | ||
Class A | (978,091) | (315,703) |
Class C | (186,454) | (45,123) |
Class I | (8,412,614) | (4,108,221) |
Class R6 | (1,996,796) | (465,662) |
Class NAV | (3,057,868) | (3,352,544) |
Total distributions | (14,631,823) | (8,287,253) |
From fund share transactions | 103,902,922 | 185,317,713 |
Total increase | 44,025,700 | 221,616,511 |
Net assets | ||
Beginning of period | 376,904,596 | 155,288,085 |
End of period | $420,930,296 | $376,904,596 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Infrastructure Fund | 13 |
Financial highlights |
CLASS A SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $13.39 | $11.60 | $12.20 | $10.89 | $10.70 | $10.99 |
Net investment income2 | 0.05 | 0.21 | 0.20 | 0.24 | 0.19 | 0.10 |
Net realized and unrealized gain (loss) on investments | (1.37) | 2.02 | (0.58) | 1.31 | 0.20 | (0.17) |
Total from investment operations | (1.32) | 2.23 | (0.38) | 1.55 | 0.39 | (0.07) |
Less distributions | ||||||
From net investment income | (0.06) | (0.20) | (0.18) | (0.24) | (0.20) | (0.22) |
From net realized gain | (0.40) | (0.24) | (0.04) | — | — | — |
Total distributions | (0.46) | (0.44) | (0.22) | (0.24) | (0.20) | (0.22) |
Net asset value, end of period | $11.61 | $13.39 | $11.60 | $12.20 | $10.89 | $10.70 |
Total return (%)3,4 | (10.22)5 | 19.69 | (3.20) | 14.35 | 3.64 | (0.69) |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $31 | $24 | $5 | $5 | $3 | $5 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.316 | 1.35 | 1.46 | 1.69 | 1.75 | 1.85 |
Expenses including reductions | 1.306 | 1.31 | 1.36 | 1.49 | 1.68 | 1.83 |
Net investment income | 0.806 | 1.66 | 1.65 | 2.06 | 1.79 | 0.95 |
Portfolio turnover (%) | 18 | 26 | 19 | 14 | 35 | 35 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the period. |
4 | Does not reflect the effect of sales charges, if any. |
5 | Not annualized. |
6 | Annualized. |
14 | JOHN HANCOCK Infrastructure Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS C SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $13.26 | $11.50 | $12.11 | $10.81 | $10.64 | $11.00 |
Net investment income (loss)2 | 0.01 | 0.12 | 0.11 | 0.15 | 0.12 | (0.03) |
Net realized and unrealized gain (loss) on investments | (1.37) | 2.01 | (0.58) | 1.31 | 0.19 | (0.14) |
Total from investment operations | (1.36) | 2.13 | (0.47) | 1.46 | 0.31 | (0.17) |
Less distributions | ||||||
From net investment income | (0.02) | (0.13) | (0.10) | (0.16) | (0.14) | (0.19) |
From net realized gain | (0.40) | (0.24) | (0.04) | — | — | — |
Total distributions | (0.42) | (0.37) | (0.14) | (0.16) | (0.14) | (0.19) |
Net asset value, end of period | $11.48 | $13.26 | $11.50 | $12.11 | $10.81 | $10.64 |
Total return (%)3,4 | (10.61)5 | 18.93 | (3.90) | 13.57 | 2.94 | (1.58) |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $7 | $6 | $1 | $1 | $1 | $—6 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 2.017 | 2.05 | 2.16 | 2.39 | 2.45 | 3.18 |
Expenses including reductions | 2.007 | 2.01 | 2.06 | 2.19 | 2.36 | 2.60 |
Net investment income (loss) | 0.117 | 0.94 | 0.91 | 1.32 | 1.11 | (0.29) |
Portfolio turnover (%) | 18 | 26 | 19 | 14 | 35 | 35 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the period. |
4 | Does not reflect the effect of sales charges, if any. |
5 | Not annualized. |
6 | Less than $500,000. |
7 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Infrastructure Fund | 15 |
CLASS I SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $13.41 | $11.61 | $12.21 | $10.91 | $10.71 | $11.00 |
Net investment income2 | 0.07 | 0.26 | 0.28 | 0.18 | 0.24 | 0.14 |
Net realized and unrealized gain (loss) on investments | (1.38) | 2.02 | (0.63) | 1.40 | 0.18 | (0.19) |
Total from investment operations | (1.31) | 2.28 | (0.35) | 1.58 | 0.42 | (0.05) |
Less distributions | ||||||
From net investment income | (0.08) | (0.24) | (0.21) | (0.28) | (0.22) | (0.24) |
From net realized gain | (0.40) | (0.24) | (0.04) | — | — | — |
Total distributions | (0.48) | (0.48) | (0.25) | (0.28) | (0.22) | (0.24) |
Net asset value, end of period | $11.62 | $13.41 | $11.61 | $12.21 | $10.91 | $10.71 |
Total return (%)3 | (10.13)4 | 20.13 | (2.89) | 14.60 | 3.98 | (0.44) |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $247 | $213 | $61 | $1 | $4 | $—5 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.016 | 1.05 | 1.18 | 1.38 | 1.44 | 6.36 |
Expenses including reductions | 1.006 | 1.00 | 1.02 | 1.17 | 1.26 | 1.52 |
Net investment income | 1.116 | 2.08 | 2.38 | 1.61 | 2.21 | 1.26 |
Portfolio turnover (%) | 18 | 26 | 19 | 14 | 35 | 35 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the period. |
4 | Not annualized. |
5 | Less than $500,000. |
6 | Annualized. |
16 | JOHN HANCOCK Infrastructure Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R6 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $13.43 | $11.63 | $12.23 | $10.92 | $10.72 | $11.00 |
Net investment income2 | 0.08 | 0.27 | 0.24 | 0.28 | 0.25 | 0.16 |
Net realized and unrealized gain (loss) on investments | (1.39) | 2.02 | (0.58) | 1.32 | 0.18 | (0.18) |
Total from investment operations | (1.31) | 2.29 | (0.34) | 1.60 | 0.43 | (0.02) |
Less distributions | ||||||
From net investment income | (0.08) | (0.25) | (0.22) | (0.29) | (0.23) | (0.26) |
From net realized gain | (0.40) | (0.24) | (0.04) | — | — | — |
Total distributions | (0.48) | (0.49) | (0.26) | (0.29) | (0.23) | (0.26) |
Net asset value, end of period | $11.64 | $13.43 | $11.63 | $12.23 | $10.92 | $10.72 |
Total return (%)3 | (10.06)4 | 20.18 | (2.81) | 14.77 | 4.08 | (0.22) |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $60 | $50 | $1 | $1 | $1 | $—5 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.906 | 0.94 | 1.07 | 1.29 | 1.34 | 7.86 |
Expenses including reductions | 0.896 | 0.92 | 0.97 | 1.08 | 1.18 | 1.34 |
Net investment income | 1.216 | 2.11 | 2.01 | 2.42 | 1.29 | 1.46 |
Portfolio turnover (%) | 18 | 26 | 19 | 14 | 35 | 35 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the period. |
4 | Not annualized. |
5 | Less than $500,000. |
6 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Infrastructure Fund | 17 |
CLASS NAV SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $13.43 | $11.63 | $12.23 | $10.92 | $10.72 | $11.01 |
Net investment income2 | 0.08 | 0.26 | 0.24 | 0.27 | 0.24 | 0.15 |
Net realized and unrealized gain (loss) on investments | (1.38) | 2.03 | (0.58) | 1.33 | 0.19 | (0.18) |
Total from investment operations | (1.30) | 2.29 | (0.34) | 1.60 | 0.43 | (0.03) |
Less distributions | ||||||
From net investment income | (0.09) | (0.25) | (0.22) | (0.29) | (0.23) | (0.26) |
From net realized gain | (0.40) | (0.24) | (0.04) | — | — | — |
Total distributions | (0.49) | (0.49) | (0.26) | (0.29) | (0.23) | (0.26) |
Net asset value, end of period | $11.64 | $13.43 | $11.63 | $12.23 | $10.92 | $10.72 |
Total return (%)3 | (10.06)4 | 20.19 | (2.80) | 14.78 | 4.09 | (0.28) |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $76 | $84 | $86 | $102 | $113 | $137 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 0.885 | 0.93 | 1.05 | 1.28 | 1.33 | 1.35 |
Expenses including reductions | 0.875 | 0.92 | 0.96 | 1.07 | 1.26 | 1.34 |
Net investment income | 1.255 | 2.06 | 2.00 | 2.38 | 2.21 | 1.41 |
Portfolio turnover (%) | 18 | 26 | 19 | 14 | 35 | 35 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the period. |
4 | Not annualized. |
5 | Annualized. |
18 | JOHN HANCOCK Infrastructure Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Notes to financial statements (unaudited) |
SEMIANNUAL REPORT | JOHN HANCOCK Infrastructure Fund | 19 |
Total value at 4-30-20 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Brazil | $4,482,696 | $4,482,696 | — | — |
Canada | 41,459,681 | 41,459,681 | — | — |
China | 41,201,861 | — | $41,201,861 | — |
France | 29,185,849 | — | 29,185,849 | — |
Germany | 14,430,755 | — | 14,430,755 | — |
Hong Kong | 28,228,033 | — | 28,228,033 | — |
Italy | 19,729,040 | — | 19,729,040 | — |
Japan | 28,542,084 | — | 28,542,084 | — |
Spain | 15,254,545 | — | 15,254,545 | — |
United Kingdom | 21,664,229 | — | 21,664,229 | — |
United States | 155,716,920 | 155,716,920 | — | — |
Short-term investments | 19,000,000 | — | 19,000,000 | — |
Total investments in securities | $418,895,693 | $201,659,297 | $217,236,396 | — |
20 | JOHN HANCOCK Infrastructure Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Infrastructure Fund | 21 |
22 | JOHN HANCOCK Infrastructure Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Infrastructure Fund | 23 |
Class | Expense reduction |
Class A | $1,068 |
Class C | 229 |
Class I | 8,852 |
Class | Expense reduction |
Class R6 | $2,016 |
Class NAV | 2,864 |
Total | $15,029 |
Class | Rule 12b-1 Fee |
Class A | 0.30% |
Class C | 1.00% |
24 | JOHN HANCOCK Infrastructure Fund | SEMIANNUAL REPORT |
Class | Distribution and service fees | Transfer agent fees |
Class A | $44,820 | $18,770 |
Class C | 32,190 | 4,042 |
Class I | — | 151,649 |
Class R6 | — | 3,724 |
Total | $77,010 | $178,185 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Lender | $11,623,065 | 2 | 1.260% | $814 |
Six Months Ended 4-30-20 | Year Ended 10-31-19 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 1,334,633 | $17,000,020 | 1,476,930 | $18,826,723 |
Distributions reinvested | 75,694 | 978,091 | 25,428 | 315,703 |
Repurchased | (489,569) | (6,020,012) | (180,778) | (2,256,942) |
Net increase | 920,758 | $11,958,099 | 1,321,580 | $16,885,484 |
Class C shares | ||||
Sold | 249,028 | $3,193,559 | 399,750 | $5,044,757 |
Distributions reinvested | 14,465 | 186,454 | 3,328 | 41,292 |
Repurchased | (65,315) | (791,585) | (48,719) | (614,589) |
Net increase | 198,178 | $2,588,428 | 354,359 | $4,471,460 |
SEMIANNUAL REPORT | JOHN HANCOCK Infrastructure Fund | 25 |
Six Months Ended 4-30-20 | Year Ended 10-31-19 | |||
Shares | Amount | Shares | Amount | |
Class I shares | ||||
Sold | 8,512,764 | $108,592,671 | 12,656,531 | $158,308,982 |
Distributions reinvested | 519,033 | 6,678,351 | 231,506 | 2,898,354 |
Repurchased | (3,728,900) | (46,558,982) | (2,259,401) | (28,762,651) |
Net increase | 5,302,897 | $68,712,040 | 10,628,636 | $132,444,685 |
Class R6 shares | ||||
Sold | 1,852,472 | $23,445,041 | 3,686,414 | $47,162,032 |
Distributions reinvested | 155,179 | 1,996,796 | 35,857 | 465,663 |
Repurchased | (516,431) | (6,272,953) | (150,140) | (1,944,004) |
Net increase | 1,491,220 | $19,168,884 | 3,572,131 | $45,683,691 |
Class NAV shares | ||||
Sold | 884,055 | $10,084,200 | 544,047 | $6,832,002 |
Distributions reinvested | 237,329 | 3,057,868 | 276,560 | 3,352,544 |
Repurchased | (910,489) | (11,666,597) | (1,957,974) | (24,352,153) |
Net increase (decrease) | 210,895 | $1,475,471 | (1,137,367) | $(14,167,607) |
Total net increase | 8,123,948 | $103,902,922 | 14,739,339 | $185,317,713 |
Portfolio | Affiliated Concentration |
John Hancock Funds II Multimanager Lifestyle Conservative Portfolio | 9.3% |
John Hancock Funds II Alternative Asset Allocation | 5.5% |
26 | JOHN HANCOCK Infrastructure Fund | SEMIANNUAL 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* | — | $7,138,567 | $41,648,896 | $(48,785,379) | $(1,822) | $(262) | $9,428 | — | — |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
SEMIANNUAL REPORT | JOHN HANCOCK Infrastructure Fund | 27 |
STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT
Operation of the Liquidity Risk Management Program
This section describes operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock Infrastructure Fund, subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Fund's subadvisor, Wellington Management Company LLP (the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.
The Committee holds monthly meetings to: (1) review the day-to-day operations of the LRMP; (2) review and approve month end liquidity classifications; (3) review quarterly testing and determinations, as applicable; and (4) review other LRMP related material. The Committee also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Committee may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity and valuation issues.
The Committee provided the Board at a meeting held on March 15-17, 2020 with a written report which addressed the Committee's assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period December 1, 2018 through December 31, 2019, included an assessment of important aspects of the LRMP including, but not limited to:
• Operation of the Fund's Redemption-In-Kind Procedures;
• Highly Liquid Investment Minimum (HLIM) determination;
• Compliance with the 15% limit on illiquid investments;
• Reasonably Anticipated Trade Size (RATS) determination;
• Security-level liquidity classifications; and
• Liquidity risk assessment.
The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee's actions to address such matters.
Redemption-In-Kind Procedures
Rule 22e-4 requires any fund that engages in or reserves the right to engage in in-kind redemptions to adopt and implement written policies and procedures regarding in-kind redemptions as part of the management of its liquidity risk. These procedures address the process for redeeming in kind, as well as the circumstances under which the Fund would consider redeeming in kind. Anticipated large redemption activity will be evaluated to identify situations where redeeming in securities instead of cash may be appropriate.
As part of its annual assessment of the LRMP, the Committee reviewed the implementation and operation of the Redemption-In-Kind Procedures and determined they are operating in a manner that such procedures are adequate and effective to manage in-kind redemptions on behalf of the Fund as part of the LRMP.
Highly Liquid Investment Minimum determination
The Committee uses an HLIM model to determine a Fund's HLIM. This process incorporates the Fund's investment strategy, historical redemptions, liquidity classification rollup percentages and cash balances, redemption policy, access to funding sources, distribution channels and client concentrations. If the Fund falls below its established HLIM for a period greater than 7 consecutive calendar days, the Committee prepares a report to the Board within one business day following the seventh consecutive calendar day with an explanation of how the Fund plans to restore its HLIM within a reasonable period of time.
Based on the HLIM model, the Committee has determined that the Fund qualifies as a Primarily Highly Liquid Fund (PHLF). It is therefore not required to establish a HLIM. The Fund is tested quarterly to confirm its PHLF status.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to HLIM and PHLF determinations, and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Compliance with the 15% limit on illiquid investments
Rule 22e-4 sets an aggregate illiquid investment limit of 15% for a fund. Funds are prohibited from acquiring an illiquid investment if this results in greater than 15% of its net assets being classified as illiquid. When applying this limit, the Committee defines "illiquid investment" to mean any investment that the Fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. If a 15% illiquid investment limit breach occurs for longer than 1 business day, the Fund is required to notify the Board and provide a plan on how to bring illiquid investments within the 15% threshold, and after 7 days confidentially notify the Securities and Exchange Commission (the SEC).
In February 2019, as a result of extended security markets closures in connection with the Chinese New Year in certain countries, the SEC released guidance, and the Committee approved and adopted an Extended Market Holiday Policy to plan for and monitor known Extended Market Holidays (defined as all expected market holiday closures spanning four or more calendar days).
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to the 15% illiquid investment limit and determined such policies and procedures are operating in a manner that is adequate and effective as part of the LMRP.
Reasonably Anticipated Trade Size determination
In order to assess the liquidity risk of a Fund, the Committee considers the impact on the Fund that redemptions of a RATS would have under both normal and reasonably foreseeable stressed conditions. Modelling the Fund's RATS requires quantifying cash flow volatility and analyzing distribution channel concentration and redemption risk. The model is designed to estimate the amount of assets that the Fund could reasonably anticipate trading on a given day, during both normal and reasonably foreseeable stressed conditions, to satisfy redemption requests.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to RATS determinations and determined that such policies and procedures are operating in a manner that is adequate and effective at making RATS determinations as part of the LRMP.
Security-level liquidity classifications
When classifying the liquidity of portfolio securities, the Fund adheres to the liquidity classification procedures established by the Advisor. In assigning a liquidity classification to Fund portfolio holdings, the following key inputs, among others, are considered: the Fund's RATS, feedback from the applicable Subadvisor on market-, trading- and investment-specific considerations, an assessment of current market conditions and fund portfolio holdings, and a value impact standard. The Subadvisor also provides position-level data to the Committee for use in monthly classification reconciliation in order to identify any classifications that may need to be changed as a result of the above considerations.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to security-level liquidity classifications and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Liquidity risk assessment
The Committee periodically reviews and assesses, the Fund's liquidity risk, including its investment strategy and liquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions (including whether the investment strategy is appropriate for an open-end fund, the extent to which the strategy involves a relatively concentrated portfolio or large positions in particular issuers, and the use of borrowings for investment purposes and derivatives), cash flow analysis during both normal and reasonably foreseeable stressed conditions, and holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.
The Committee also monitors global events, such as the COVID-19 Coronavirus, that could impact the markets and liquidity of portfolio investments and their classifications.
As part of its annual assessment of the LRMP, the Committee reviewed Fund-Level Liquidity Risk Assessment Reports for each of the Funds and determined that the investment strategy for each Fund continues to be appropriate for an open-ended structure.
Adequacy and Effectiveness
Based on the review and assessment conducted by the Committee, the Committee has determined that the LRMP has been implemented, and is operating in a manner that is adequate and effective at assessing and managing the liquidity risk of each Fund.
Trustees Hassell H. McClellan,Chairperson Officers Andrew G. Arnott Francis V. Knox, Jr. Charles A. Rizzo Salvatore Schiavone Christopher (Kit) Sechler | Investment advisor John Hancock Investment Management LLC Subadvisor Wellington Management Company LLP Portfolio Manager G. Thomas Levering Principal distributor John Hancock Investment Management Distributors LLC Custodian State Street Bank and Trust Company Transfer agent John Hancock Signature Services, Inc. Legal counsel K&L Gates LLP |
* Member of the Audit Committee
† Non-Independent Trustee
The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund's holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund's Form N-PORT filings are available on our website and the SEC's website, sec.gov.
We make this information on your fund, as well asmonthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
You can also contact us: | |||
800-225-5291 jhinvestments.com | Regular mail: John Hancock Signature Services, Inc. | Express mail: John Hancock Signature Services, Inc. |
John Hancock family of funds
DOMESTIC EQUITY FUNDS Blue Chip Growth Classic Value Disciplined Value Disciplined Value Mid Cap Equity Income Financial Industries Fundamental All Cap Core Fundamental Large Cap Core New Opportunities Regional Bank Small Cap Core Small Cap Growth Small Cap Value U.S. Global Leaders Growth U.S. Quality Growth GLOBAL AND INTERNATIONAL EQUITY FUNDS Disciplined Value International Emerging Markets Emerging Markets Equity Fundamental Global Franchise Global Equity Global Shareholder Yield Global Thematic Opportunities International Dynamic Growth International Growth International Small Company | INCOME FUNDS Bond California Tax-Free Income Emerging Markets Debt Floating Rate Income Government Income High Yield High Yield Municipal Bond Income Investment Grade Bond Money Market Short Duration Bond Short Duration Credit Opportunities Strategic Income Opportunities Tax-Free Bond ALTERNATIVE AND SPECIALTY FUNDS Absolute Return Currency Alternative Asset Allocation Alternative Risk Premia Diversified Macro Infrastructure Multi-Asset Absolute Return Seaport Long/Short |
A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
ASSET ALLOCATION Balanced Multi-Asset High Income Multi-Index Lifetime Portfolios Multi-Index Preservation Portfolios Multimanager Lifestyle Portfolios Multimanager Lifetime Portfolios Retirement Income 2040 EXCHANGE-TRADED FUNDS John Hancock Multifactor Consumer Discretionary ETF John Hancock Multifactor Consumer Staples ETF John Hancock Multifactor Developed International ETF John Hancock Multifactor Emerging Markets ETF John Hancock Multifactor Energy ETF John Hancock Multifactor Financials ETF John Hancock Multifactor Healthcare ETF John Hancock Multifactor Industrials ETF John Hancock Multifactor Large Cap ETF John Hancock Multifactor Materials ETF John Hancock Multifactor Media and John Hancock Multifactor Mid Cap ETF John Hancock Multifactor Small Cap ETF John Hancock Multifactor Technology ETF John Hancock Multifactor Utilities ETF | ENVIRONMENTAL, SOCIAL, AND ESG All Cap Core ESG Core Bond ESG International Equity ESG Large Cap Core CLOSED-END FUNDS Financial Opportunities Hedged Equity & Income Income Securities Trust Investors Trust Preferred Income Preferred Income II Preferred Income III Premium Dividend Tax-Advantaged Dividend Income Tax-Advantaged Global Shareholder Yield |
John Hancock Multifactor ETF shares are bought and sold at market price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Investment Management Distributors LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock Multifactor ETFs.
John Hancock Investment Management
A trusted brand
John Hancock Investment Management is a premier asset manager
representing one of America's most trusted brands, with a heritage of
financial stewardship dating back to 1862. Helping our shareholders
pursue their financial goals is at the core of everything we do. It's why
we support the role of professional financial advice and operate with
the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world's best
managers, along with strong risk-adjusted returns across asset classes.
John Hancock Investment Management Distributors LLC n Member FINRA, SIPC
200 Berkeley Street n Boston, MA 02116-5010 n 800-225-5291 n jhinvestments.com
This report is for the information of the shareholders of John Hancock Infrastructure Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF1182618 | 438SA 4/20 6/2020 |
John Hancock
Seaport Long/Short Fund
Semiannual report 4/30/2020
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the fund's shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change, and you do not need to take any action. You may elect to receive shareholder reports and other communications electronically by calling John Hancock Investment Management at 800-225-5291 (Class A and Class C shares) or 888-972-8696 (Class I and Class R6 shares) or by contacting your financial intermediary.
You may elect to receive all reports in paper, free of charge, at any time. You can inform John Hancock Investment Management or your financial intermediary that you wish to continue receiving paper copies of your shareholder reports by following the instructions listed above. Your election to receive reports in paper will apply to all funds held with John Hancock Investment Management or your financial intermediary.
A message to shareholders
Dear shareholder,
Global financial markets were on pace to deliver strong returns during the 6 months ended April 30, 2020, until heightened fears over the coronavirus (COVID-19) sent markets tumbling during the latter half of February and early March.In response to the sell-off, governments and banks in some of the hardest hit areas throughout the world enacted policies and stimulus efforts designed to reignite their respective economies. While these measures helped lift equity and fixed-income markets in the United States during the final six weeks of the period, results were mixed in other areas of the world.
The continued spread of COVID-19, trade disputes, rising unemployment, and other geopolitical tensions may continue to create uncertainty among businesses and investors. Your financial professional can helpposition your portfolio so that it's sufficiently diversified to seek to meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I'd like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you've placed in us.
Sincerely,
Andrew G. Arnott
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO's views as of this report's period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
Seaport Long/Short Fund
INVESTMENT OBJECTIVE
The fund seeks capital appreciation.
AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2020 (%)
The MSCI World Index is a free float-adjusted market-capitalization-weighted index that is designed to measure the equity market performance of developed markets.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower. Since inception returns for the Morningstar fund category average are not available.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus. The fund recently experienced negative short-term performance due to market volatility associated with the COVID-19 pandemic.
PORTFOLIO COMPOSITION AS OF 4/30/2020 (%)
Common stocks | 60.1 |
Health care | 16.8 |
Financials | 12.2 |
Information technology | 12.2 |
Industrials | 6.0 |
Consumer discretionary | 4.4 |
Communication services | 3.1 |
Utilities | 1.8 |
Energy | 1.7 |
Real estate | 1.3 |
Materials | 0.5 |
Consumer staples | 0.1 |
Corporate bonds | 3.8 |
Purchased options | 0.7 |
Short-term investments and other | 35.4 |
TOTAL | 100.0 |
As a percentage of net assets. |
TOP 10 HOLDINGS AS OF 4/30/2020 (%)
Intact Financial Corp. | 1.3 |
Alibaba Group Holding, Ltd., ADR | 0.8 |
Workday, Inc., Class A | 0.7 |
Diamondback Energy, Inc. | 0.7 |
AIA Group, Ltd. | 0.6 |
Plains All American Pipeline LP | 0.6 |
Splunk, Inc. | 0.6 |
Tencent Holdings, Ltd. | 0.6 |
CNX Resources Corp. | 0.6 |
AstraZeneca PLC | 0.6 |
TOTAL | 7.1 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
COUNTRY COMPOSITION AS OF 4/30/2020 (%)
United States | 72.0 |
China | 4.7 |
United Kingdom | 3.1 |
Hong Kong | 2.5 |
France | 2.3 |
Canada | 2.1 |
Japan | 1.9 |
Taiwan | 1.5 |
Switzerland | 1.4 |
Ireland | 1.2 |
Other countries | 7.3 |
TOTAL | 100.0 |
As a percentage of net assets. |
A note about risks
The fund may be subject to various risks as described in the fund's prospectus. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange trading suspensions and closures, impact the ability to complete redemptions, and affect fund performance. For example, the novel coronavirus disease (COVID-19) has resulted in significant disruptions to global business activity. The impact of a health crisis and other epidemics and pandemics that may arise in the future, could affect the global economy in ways that cannot necessarily be foreseen at the present time. A health crisis may exacerbate other pre-existing political, social, and economic risks. Any such impact could adversely affect the funds' performance, resulting in losses to your investment. For more information, please refer to the "Principal risks" section of the prospectus.
TOTAL RETURNS FOR THE PERIOD ENDED APRIL 30, 2020
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | ||||||
1-year | 5-year | Since inception1 | 6-month | 5-year | Since inception1 | ||
Class A | -5.76 | 1.74 | 2.55 | -5.42 | 8.99 | 17.38 | |
Class C2 | -2.53 | 2.05 | 2.69 | -1.89 | 10.68 | 18.40 | |
Class I3 | -0.53 | 3.10 | 3.70 | -0.27 | 16.48 | 26.03 | |
Class R63 | -0.33 | 3.21 | 3.85 | -0.16 | 17.12 | 27.19 | |
Class NAV3 | -0.40 | 3.21 | 3.86 | -0.23 | 17.14 | 27.21 | |
Index† | -4.00 | 4.92 | 5.84 | -7.29 | 27.15 | 43.46 |
Performance figures assume all distributions have been reinvested. Figures reflect maximum sales charges on Class A shares of 5.00% and the applicable contingent deferred sales charge (CDSC) on Class C shares. Class C shares sold within one year of purchase are subject to a 1% CDSC. Sales charges are not applicable to Class I, Class R6, and Class NAV shares.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectuses for the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2021 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Class A | Class C | Class I | Class R6 | Class NAV | ||
Gross (%) | 1.98 | 2.68 | 1.68 | 1.57 | 1.56 | |
Net (%) | 1.97 | 2.67 | 1.67 | 1.56 | 1.55 |
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.
The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.
The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.
† | Index is the MSCI World Index. |
See the following page for footnotes.
This chart and table show what happened to a hypothetical $10,000 investment in John Hancock Seaport Long/Short Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in the MSCI World Index.
Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class C2,4 | 12-20-13 | 11,840 | 11,840 | 14,346 |
Class I3 | 12-20-13 | 12,603 | 12,603 | 14,346 |
Class R63 | 12-20-13 | 12,719 | 12,719 | 14,346 |
Class NAV3 | 12-20-13 | 12,721 | 12,721 | 14,346 |
The MSCI World Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Footnotes related to performance pages
1 | From 12-20-13 |
2 | Class C shares were first offered on 5-16-14. Returns prior to this date are those of Class A shares that have not been adjusted for class-specific expenses; otherwise, returns would vary. |
3 | For certain types of investors, as described in the fund's prospectuses. |
4 | The contingent deferred sales charge is not applicable. |
Your expenses |
SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 7 |
Account value on 11-1-2019 | Ending value on 4-30-2020 | Expenses paid during period ended 4-30-20201 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $995.60 | $9.87 | 1.99% |
Hypothetical example | 1,000.00 | 1,015.00 | 9.97 | 1.99% | |
Class C | Actual expenses/actual returns | 1,000.00 | 991.00 | 13.32 | 2.69% |
Hypothetical example | 1,000.00 | 1,011.50 | 13.45 | 2.69% | |
Class I | Actual expenses/actual returns | 1,000.00 | 997.30 | 8.39 | 1.69% |
Hypothetical example | 1,000.00 | 1,016.50 | 8.47 | 1.69% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 998.40 | 7.85 | 1.58% |
Hypothetical example | 1,000.00 | 1,017.00 | 7.92 | 1.58% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 997.70 | 7.75 | 1.56% |
Hypothetical example | 1,000.00 | 1,017.10 | 7.82 | 1.56% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period). |
8 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT |
Fund’s investments |
Shares | Value | ||||
Common stocks 60.1% | $405,836,781 | ||||
(Cost $372,395,387) | |||||
Communication services 3.1% | 21,025,741 | ||||
Diversified telecommunication services 0.9% | |||||
Bandwidth, Inc., Class A (A) | 15,114 | 1,232,698 | |||
Cellnex Telecom SA (A)(B) | 11,658 | 609,769 | |||
China Tower Corp., Ltd., H Shares (A)(B) | 10,872,067 | 2,419,516 | |||
China Unicom Hong Kong, Ltd. | 1,443,082 | 933,288 | |||
Helios Towers PLC (A) | 563,010 | 885,179 | |||
Entertainment 0.7% | |||||
Netflix, Inc. (A) | 5,225 | 2,193,716 | |||
Nexon Company, Ltd. | 20,578 | 332,252 | |||
Spotify Technology SA (A) | 12,001 | 1,818,992 | |||
Tencent Music Entertainment Group, ADR (A) | 12,611 | 143,892 | |||
Interactive media and services 1.0% | |||||
Alphabet, Inc., Class A (A) | 61 | 82,149 | |||
Alphabet, Inc., Class C (A) | 61 | 82,268 | |||
Facebook, Inc., Class A (A) | 12,177 | 2,492,754 | |||
Mail.Ru Group, Ltd., GDR (A) | 764 | 13,765 | |||
Match Group, Inc. (A) | 2,366 | 182,087 | |||
Tencent Holdings, Ltd. | 75,446 | 3,966,153 | |||
Media 0.2% | |||||
Charter Communications, Inc., Class A (A) | 3,377 | 1,672,392 | |||
Wireless telecommunication services 0.3% | |||||
China Mobile, Ltd. | 171,000 | 1,374,679 | |||
T-Mobile US, Inc. (A) | 6,722 | 590,192 | |||
Consumer discretionary 4.4% | 29,796,411 | ||||
Automobiles 0.3% | |||||
Geely Automobile Holdings, Ltd. | 12,653 | 19,682 | |||
Great Wall Motor Company, Ltd., H Shares | 1,371,037 | 916,615 | |||
Guangzhou Automobile Group Company, Ltd., H Shares | 842,050 | 755,577 | |||
Hyundai Motor Company | 157 | 12,135 | |||
SAIC Motor Corp., Ltd., Class A | 4,300 | 11,384 | |||
Diversified consumer services 0.7% | |||||
Chegg, Inc. (A) | 39,893 | 1,705,426 | |||
China Xinhua Education Group, Ltd. (B) | 70,366 | 22,595 | |||
Hope Education Group Company, Ltd. (B) | 9,852,963 | 2,764,279 | |||
Hotels, restaurants and leisure 0.1% | |||||
Planet Fitness, Inc., Class A (A) | 14,122 | 851,980 | |||
Household durables 0.8% | |||||
Cavco Industries, Inc. (A) | 800 | 123,744 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 9 |
Shares | Value | ||||
Consumer discretionary (continued) | |||||
Household durables (continued) | |||||
Haier Electronics Group Company, Ltd. | 1,103,619 | $3,039,467 | |||
Kaufman & Broad SA | 14,828 | 535,876 | |||
Skyline Champion Corp. (A) | 93,330 | 1,839,534 | |||
Internet and direct marketing retail 1.6% | |||||
Alibaba Group Holding, Ltd. (A) | 27,900 | 708,080 | |||
Alibaba Group Holding, Ltd., ADR (A) | 28,066 | 5,688,136 | |||
Amazon.com, Inc. (A) | 1,002 | 2,478,948 | |||
Etsy, Inc. (A)(C) | 23,168 | 1,502,908 | |||
MercadoLibre, Inc. (A) | 528 | 308,093 | |||
Leisure products 0.2% | |||||
BRP, Inc. | 44,312 | 1,326,224 | |||
Specialty retail 0.4% | |||||
Five Below, Inc. (A) | 1,747 | 157,510 | |||
The Home Depot, Inc. | 5,107 | 1,122,672 | |||
The TJX Companies, Inc. | 33,575 | 1,646,854 | |||
Textiles, apparel and luxury goods 0.3% | |||||
Carter's, Inc. (C) | 21,661 | 1,693,890 | |||
Steven Madden, Ltd. | 22,529 | 564,802 | |||
Consumer staples 0.1% | 763,977 | ||||
Food and staples retailing 0.1% | |||||
Performance Food Group Company (A) | 25,616 | 751,830 | |||
Food products 0.0% | |||||
CJ CheilJedang Corp. | 54 | 12,147 | |||
Energy 1.7% | 11,355,456 | ||||
Energy equipment and services 0.1% | |||||
RPC, Inc. | 46,483 | 158,507 | |||
Schlumberger, Ltd. | 43,461 | 731,014 | |||
Oil, gas and consumable fuels 1.6% | |||||
ARC Resources, Ltd. | 234,433 | 988,629 | |||
Cabot Oil & Gas Corp. | 46,624 | 1,008,011 | |||
Diamondback Energy, Inc. | 64,822 | 2,822,350 | |||
NAC Kazatomprom JSC, GDR | 77,067 | 1,157,103 | |||
The Williams Companies, Inc. | 136,411 | 2,642,281 | |||
Tourmaline Oil Corp. | 87,592 | 868,400 | |||
Viper Energy Partners LP (C) | 105,513 | 979,161 | |||
Financials 12.2% | 82,394,764 | ||||
Banks 4.9% | |||||
Australia & New Zealand Banking Group, Ltd. | 127,940 | 1,389,743 | |||
Banc of California, Inc. | 3,499 | 36,460 | |||
Bank Mandiri Persero Tbk PT | 2,449,760 | 728,219 |
10 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Financials (continued) | |||||
Banks (continued) | |||||
Bank of America Corp. | 86,558 | $2,081,720 | |||
Bank of China, Ltd., H Shares | 48,785 | 18,573 | |||
BAWAG Group AG (A)(B) | 15,582 | 529,596 | |||
China Merchants Bank Company, Ltd., H Shares | 201,500 | 953,560 | |||
CIMB Group Holdings BHD | 468,972 | 374,981 | |||
Citizens Financial Group, Inc. | 89,214 | 1,997,501 | |||
Commonwealth Bank of Australia | 35,760 | 1,444,578 | |||
Credicorp, Ltd. | 6,535 | 973,846 | |||
Credit Agricole SA | 118,288 | 951,444 | |||
East West Bancorp, Inc. | 10,566 | 370,550 | |||
Erste Group Bank AG (A) | 25,040 | 542,688 | |||
Halyk Savings Bank of Kazakhstan JSC, GDR (A) | 4,456 | 40,104 | |||
HBT Financial, Inc. | 11,938 | 139,078 | |||
Heritage Commerce Corp. | 49,166 | 436,594 | |||
Kasikornbank PCL | 11,300 | 29,475 | |||
Kasikornbank PCL, NVDR | 229,770 | 602,387 | |||
KB Financial Group, Inc. | 783 | 22,403 | |||
M&T Bank Corp. | 6,444 | 722,244 | |||
National Australia Bank, Ltd. (A) | 163,796 | 1,794,791 | |||
Nova Ljubljanska Banka DD, GDR (B) | 66,671 | 532,391 | |||
Regions Financial Corp. | 142,923 | 1,536,422 | |||
Sberbank of Russia PJSC, ADR | 72,600 | 763,026 | |||
Shinhan Financial Group Company, Ltd. | 67,833 | 1,719,740 | |||
Shinsei Bank, Ltd. | 111,700 | 1,347,429 | |||
Signature Bank | 15,063 | 1,614,452 | |||
Standard Chartered PLC | 277,770 | 1,419,317 | |||
Sterling Bancorp | 120,893 | 1,490,611 | |||
SVB Financial Group (A) | 2,772 | 535,467 | |||
Synovus Financial Corp. | 52,877 | 1,110,946 | |||
TCS Group Holding PLC, GDR | 34,969 | 486,069 | |||
The PNC Financial Services Group, Inc. | 17,252 | 1,840,271 | |||
Western Alliance Bancorp | 43,021 | 1,543,593 | |||
Zions Bancorp NA | 37,970 | 1,200,232 | |||
Capital markets 1.7% | |||||
Ares Management Corp., Class A (C) | 54,108 | 1,815,323 | |||
Edelweiss Financial Services, Ltd. | 1,087,100 | 566,720 | |||
London Stock Exchange Group PLC | 6,522 | 610,438 | |||
Morgan Stanley | 7,793 | 307,278 | |||
Sanne Group PLC | 167,192 | 1,362,592 | |||
Solar Capital, Ltd. | 40,216 | 605,653 | |||
The Blackstone Group, Inc., Class A | 32,518 | 1,698,740 | |||
The Charles Schwab Corp. | 11,663 | 439,928 | |||
The Goldman Sachs Group, Inc. | 6,912 | 1,267,799 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 11 |
Shares | Value | ||||
Financials (continued) | |||||
Capital markets (continued) | |||||
UBS Group AG (A) | 236,558 | $2,545,364 | |||
XP, Inc., Class A (A) | 8,716 | 219,295 | |||
Consumer finance 0.3% | |||||
OneMain Holdings, Inc. | 25,578 | 619,243 | |||
PRA Group, Inc. (A) | 25,264 | 700,823 | |||
SLM Corp. | 100,037 | 834,309 | |||
Diversified financial services 0.9% | |||||
Cerved Group SpA | 251,513 | 1,713,426 | |||
ECN Capital Corp. | 12,133 | 34,430 | |||
Equitable Holdings, Inc. (C) | 135,853 | 2,488,827 | |||
FirstRand, Ltd. | 192,202 | 419,482 | |||
Voya Financial, Inc. | 25,049 | 1,131,463 | |||
Insurance 4.0% | |||||
AIA Group, Ltd. | 477,359 | 4,381,089 | |||
Assurant, Inc. | 22,345 | 2,373,933 | |||
Assured Guaranty, Ltd. | 3,668 | 109,050 | |||
Athene Holding, Ltd., Class A (A)(C) | 72,359 | 1,953,693 | |||
AUB Group, Ltd. | 98,934 | 749,788 | |||
AXA SA | 63,421 | 1,127,403 | |||
Beazley PLC | 464,902 | 2,298,727 | |||
Direct Line Insurance Group PLC | 7,673 | 26,142 | |||
Intact Financial Corp. | 90,033 | 8,568,319 | |||
Kemper Corp. | 8,035 | 540,113 | |||
ProSight Global, Inc. (A) | 2,703 | 22,597 | |||
Prudential PLC | 135,862 | 1,916,661 | |||
The Hartford Financial Services Group, Inc. (C) | 29,958 | 1,138,104 | |||
Third Point Reinsurance, Ltd. (A) | 8,441 | 62,801 | |||
Tokio Marine Holdings, Inc. | 30,100 | 1,412,163 | |||
Trupanion, Inc. (A) | 14,427 | 431,512 | |||
Mortgage real estate investment trusts 0.1% | |||||
AGNC Investment Corp. | 62,403 | 775,045 | |||
Thrifts and mortgage finance 0.3% | |||||
Essent Group, Ltd. | 16,618 | 454,004 | |||
First Defiance Financial Corp. | 24,191 | 420,440 | |||
MGIC Investment Corp. | 8,693 | 63,546 | |||
PNB Housing Finance, Ltd. (B) | 136,881 | 358,202 | |||
Provident Financial Services, Inc. | 35,526 | 509,798 | |||
Health care 16.8% | 113,790,302 | ||||
Biotechnology 5.4% | |||||
Acceleron Pharma, Inc. (A) | 24,043 | 2,176,613 | |||
Aimmune Therapeutics, Inc. (A) | 11,005 | 188,406 |
12 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Health care (continued) | |||||
Biotechnology (continued) | |||||
Alkermes PLC (A) | 17,783 | $243,805 | |||
Apellis Pharmaceuticals, Inc. (A) | 25,071 | 859,183 | |||
Arena Pharmaceuticals, Inc. (A) | 14,688 | 719,271 | |||
Argenx SE, ADR (A) | 7,987 | 1,170,016 | |||
Ascendis Pharma A/S, ADR (A) | 7,559 | 1,025,983 | |||
Assembly Biosciences, Inc. (A) | 18,266 | 319,838 | |||
BeiGene, Ltd., ADR (A) | 13,908 | 2,125,560 | |||
Black Diamond Therapeutics, Inc. (A) | 5,500 | 203,720 | |||
Clementia Pharmaceuticals, Inc. (A)(D) | 9,185 | 12,400 | |||
Coherus Biosciences, Inc. (A) | 40,205 | 667,403 | |||
Constellation Pharmaceuticals, Inc. (A) | 43,791 | 1,575,600 | |||
G1 Therapeutics, Inc. (A) | 68,913 | 904,828 | |||
Galapagos NV (A) | 3,806 | 840,849 | |||
Genmab A/S (A) | 9,335 | 2,243,990 | |||
Genus PLC | 3,113 | 133,742 | |||
GlycoMimetics, Inc. (A) | 82,200 | 229,338 | |||
ImmunoGen, Inc. (A) | 272,788 | 1,112,975 | |||
Invitae Corp. (A) | 21,679 | 358,787 | |||
Ironwood Pharmaceuticals, Inc. (A) | 99,238 | 992,380 | |||
Kodiak Sciences, Inc. (A) | 28,160 | 1,536,128 | |||
Mirati Therapeutics, Inc. (A) | 12,626 | 1,073,715 | |||
Momenta Pharmaceuticals, Inc. (A) | 65,354 | 2,071,722 | |||
Myovant Sciences, Ltd. (A) | 52,039 | 623,427 | |||
NextCure, Inc. (A) | 21,187 | 686,883 | |||
Orchard Therapeutics PLC, ADR (A) | 55,099 | 620,415 | |||
Oyster Point Pharma, Inc. (A) | 33,829 | 994,573 | |||
Portola Pharmaceuticals, Inc. (A) | 14,786 | 104,685 | |||
Principia Biopharma, Inc. (A) | 19,320 | 1,201,318 | |||
Radius Health, Inc. (A) | 2,561 | 40,182 | |||
Regeneron Pharmaceuticals, Inc. (A) | 3,802 | 1,999,396 | |||
REVOLUTION Medicines, Inc. (A) | 2,200 | 68,794 | |||
Rhythm Pharmaceuticals, Inc. (A) | 45,810 | 863,060 | |||
Rigel Pharmaceuticals, Inc. (A) | 74,358 | 133,101 | |||
Sarepta Therapeutics, Inc. (A) | 9,411 | 1,109,369 | |||
Syndax Pharmaceuticals, Inc. (A) | 68,300 | 1,229,400 | |||
Twist Bioscience Corp. (A) | 23,057 | 754,194 | |||
UroGen Pharma, Ltd. (A) | 14,408 | 320,002 | |||
Zai Lab, Ltd., ADR (A) | 45,437 | 2,849,809 | |||
Zealand Pharma A/S, ADR (A) | 10,264 | 359,240 | |||
Health care equipment and supplies 3.5% | |||||
Baxter International, Inc. | 19,658 | 1,745,237 | |||
Becton, Dickinson and Company | 1,320 | 333,340 | |||
ConvaTec Group PLC (B) | 356,717 | 952,764 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 13 |
Shares | Value | ||||
Health care (continued) | |||||
Health care equipment and supplies (continued) | |||||
Danaher Corp. | 17,120 | $2,798,435 | |||
DexCom, Inc. (A) | 5,903 | 1,978,686 | |||
Edwards Lifesciences Corp. (A) | 8,689 | 1,889,858 | |||
Hill-Rom Holdings, Inc. | 6,621 | 744,796 | |||
Insulet Corp. (A) | 9,544 | 1,906,128 | |||
Integer Holdings Corp. (A) | 10,150 | 755,769 | |||
Intuitive Surgical, Inc. (A) | 2,154 | 1,100,436 | |||
Lifetech Scientific Corp. (A) | 1,420,000 | 312,930 | |||
Masimo Corp. (A) | 3,782 | 809,008 | |||
Medtronic PLC | 6,194 | 604,720 | |||
NuVasive, Inc. (A) | 1,948 | 118,594 | |||
Shandong Weigao Group Medical Polymer Company, Ltd., H Shares | 348,000 | 528,662 | |||
Shockwave Medical, Inc. (A) | 22,750 | 912,730 | |||
Smith & Nephew PLC | 30,465 | 596,172 | |||
STERIS PLC | 5,715 | 814,388 | |||
Tandem Diabetes Care, Inc. (A)(C) | 45,184 | 3,604,780 | |||
Teleflex, Inc. | 2,630 | 882,102 | |||
Venus MedTech Hangzhou, Inc., H Shares (A)(B) | 8,000 | 54,798 | |||
Health care providers and services 1.0% | |||||
Acadia Healthcare Company, Inc. (A) | 6,431 | 154,408 | |||
Anthem, Inc. | 6,036 | 1,694,486 | |||
Centene Corp. (A) | 32,546 | 2,166,913 | |||
China National Accord Medicines Corp., Ltd., Class A | 339,175 | 1,959,902 | |||
Encompass Health Corp. | 5,342 | 353,908 | |||
Molina Healthcare, Inc. (A) | 179 | 29,351 | |||
Notre Dame Intermedica Participacoes SA | 65,200 | 657,168 | |||
Health care technology 0.5% | |||||
Alibaba Health Information Technology, Ltd. (A) | 162,000 | 387,505 | |||
HMS Holdings Corp. (A) | 20,784 | 595,981 | |||
Omnicell, Inc. (A) | 12,866 | 937,931 | |||
Teladoc Health, Inc. (A) | 2,070 | 340,701 | |||
Veeva Systems, Inc., Class A (A) | 7,187 | 1,371,280 | |||
Life sciences tools and services 1.2% | |||||
Adaptive Biotechnologies Corp. (A) | 25,081 | 802,843 | |||
Agilent Technologies, Inc. | 14,585 | 1,118,086 | |||
Bio-Techne Corp. | 2,569 | 578,025 | |||
ICON PLC (A) | 3,533 | 566,941 | |||
Pharmaron Beijing Company, Ltd., H Shares (A)(B) | 50,000 | 393,383 | |||
PPD, Inc. (A) | 62,426 | 1,491,981 | |||
PRA Health Sciences, Inc. (A) | 7,114 | 686,501 | |||
Repligen Corp. (A) | 5,000 | 580,750 | |||
Tecan Group AG | 2,625 | 845,098 |
14 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Health care (continued) | |||||
Life sciences tools and services (continued) | |||||
WuXi AppTec Company, Ltd., H Shares (B) | 56,280 | $793,474 | |||
Wuxi Biologics Cayman, Inc. (A)(B) | 15,000 | 233,496 | |||
Pharmaceuticals 5.2% | |||||
Amneal Pharmaceuticals, Inc. (A) | 43,208 | 156,845 | |||
AstraZeneca PLC | 35,688 | 3,732,679 | |||
CanSino Biologics, Inc., H Shares (A)(B) | 1,148 | 24,222 | |||
China Traditional Chinese Medicine Holdings Company, Ltd. | 3,505,112 | 1,538,439 | |||
Chugai Pharmaceutical Company, Ltd. | 11,920 | 1,420,884 | |||
CSPC Pharmaceutical Group, Ltd. | 499,379 | 988,629 | |||
Eisai Company, Ltd. | 44,407 | 3,100,095 | |||
Elanco Animal Health, Inc. (A) | 20,958 | 517,872 | |||
Eli Lilly & Company | 20,017 | 3,095,429 | |||
Hikma Pharmaceuticals PLC | 20,512 | 610,930 | |||
Hutchison China MediTech, Ltd., ADR (A) | 26,831 | 577,135 | |||
Laboratorios Farmaceuticos Rovi SA | 25,121 | 716,245 | |||
Livzon Pharmaceutical Group, Inc., Class A | 108,251 | 603,916 | |||
Nippon Shinyaku Company, Ltd. | 24,000 | 1,685,369 | |||
Novartis AG | 32,043 | 2,734,500 | |||
Odonate Therapeutics, Inc. (A) | 57,017 | 1,605,029 | |||
Ono Pharmaceutical Company, Ltd. | 86,818 | 2,091,646 | |||
Pfizer, Inc. | 19,632 | 753,084 | |||
Reata Pharmaceuticals, Inc., Class A (A) | 6,718 | 1,062,519 | |||
Revance Therapeutics, Inc. (A) | 46,684 | 864,121 | |||
Roche Holding AG | 9,371 | 3,245,152 | |||
Takeda Pharmaceutical Company, Ltd. | 17,830 | 642,976 | |||
Theravance Biopharma, Inc. (A) | 38,628 | 1,126,392 | |||
Tricida, Inc. (A) | 42,552 | 1,287,198 | |||
UCB SA | 6,499 | 595,561 | |||
WaVe Life Sciences, Ltd. (A) | 9,780 | 84,890 | |||
Industrials 6.0% | 40,384,136 | ||||
Aerospace and defense 0.6% | |||||
BWX Technologies, Inc. | 35,411 | 1,878,908 | |||
Ultra Electronics Holdings PLC | 97,249 | 2,407,610 | |||
Building products 0.7% | |||||
Advanced Drainage Systems, Inc. | 59,174 | 2,398,914 | |||
Trane Technologies PLC | 23,937 | 2,092,573 | |||
Commercial services and supplies 1.0% | |||||
Babcock International Group PLC | 630,247 | 3,338,207 | |||
Copart, Inc. (A) | 27,848 | 2,230,903 | |||
Serco Group PLC (A) | 698,762 | 1,131,078 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 15 |
Shares | Value | ||||
Industrials (continued) | |||||
Construction and engineering 0.7% | |||||
China Machinery Engineering Corp., H Shares | 5,917,116 | $1,623,496 | |||
Maeda Corp. | 116,400 | 933,680 | |||
Vinci SA | 27,731 | 2,271,777 | |||
Electrical equipment 0.4% | |||||
Emerson Electric Company | 25,193 | 1,436,757 | |||
Schneider Electric SE | 11,952 | 1,104,512 | |||
Industrial conglomerates 0.0% | |||||
Fosun International, Ltd. | 14,079 | 17,676 | |||
Machinery 0.0% | |||||
Rexnord Corp. | 13,345 | 363,918 | |||
Marine 0.4% | |||||
Irish Continental Group PLC | 655,222 | 2,477,277 | |||
Professional services 1.4% | |||||
CoStar Group, Inc. (A) | 2,449 | 1,587,589 | |||
Equifax, Inc. | 20,002 | 2,778,278 | |||
Experian PLC | 36,404 | 1,093,225 | |||
Huron Consulting Group, Inc. (A) | 22,252 | 1,247,002 | |||
TransUnion | 4,988 | 393,005 | |||
TriNet Group, Inc. (A) | 47,465 | 2,324,361 | |||
Road and rail 0.2% | |||||
CJ Logistics Corp. (A) | 216 | 26,233 | |||
Uber Technologies, Inc. (A) | 41,016 | 1,241,554 | |||
Trading companies and distributors 0.6% | |||||
AerCap Holdings NV (A) | 14,325 | 402,819 | |||
Brenntag AG | 78,905 | 3,572,655 | |||
Transportation infrastructure 0.0% | |||||
China Merchants Port Holdings Company, Ltd. | 7,870 | 10,129 | |||
Information technology 12.2% | 82,204,177 | ||||
Communications equipment 0.2% | |||||
Accton Technology Corp. | 148,000 | 1,072,862 | |||
Lumentum Holdings, Inc. (A) | 5,468 | 442,416 | |||
Electronic equipment, instruments and components 0.6% | |||||
Chroma ATE, Inc. | 326,000 | 1,502,231 | |||
Corning, Inc. | 14,674 | 322,975 | |||
Flex, Ltd. (A) | 197,396 | 1,926,570 | |||
IT services 3.6% | |||||
Accenture PLC, Class A | 3,214 | 595,201 | |||
Automatic Data Processing, Inc. | 5,397 | 791,686 | |||
Edenred | 6,387 | 257,288 | |||
EPAM Systems, Inc. (A) | 8,325 | 1,838,909 |
16 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Information technology (continued) | |||||
IT services (continued) | |||||
ExlService Holdings, Inc. (A) | 14,925 | $921,320 | |||
Fidelity National Information Services, Inc. | 14,335 | 1,890,643 | |||
FleetCor Technologies, Inc. (A) | 9,023 | 2,176,799 | |||
Genpact, Ltd. | 32,273 | 1,111,159 | |||
Global Payments, Inc. | 10,049 | 1,668,335 | |||
GoDaddy, Inc., Class A (A) | 29,142 | 2,023,329 | |||
Leidos Holdings, Inc. | 14,270 | 1,410,019 | |||
LiveRamp Holdings, Inc. (A) | 31,354 | 1,187,062 | |||
Mastercard, Inc., Class A | 603 | 165,807 | |||
Pagseguro Digital, Ltd., Class A (A) | 35,235 | 892,503 | |||
PayPal Holdings, Inc. (A) | 11,094 | 1,364,562 | |||
Square, Inc., Class A (A) | 32,664 | 2,127,733 | |||
StoneCo, Ltd., Class A (A) | 1,010 | 26,644 | |||
VeriSign, Inc. (A) | 758 | 158,793 | |||
Visa, Inc., Class A | 1,634 | 292,028 | |||
WEX, Inc. (A) | 9,145 | 1,210,066 | |||
Worldline SA (A)(B) | 32,187 | 2,180,003 | |||
Semiconductors and semiconductor equipment 3.2% | |||||
Advanced Micro Devices, Inc. (A)(C) | 31,710 | 1,661,287 | |||
ASM International NV | 10,542 | 1,165,527 | |||
ASM Pacific Technology, Ltd. | 5,700 | 57,597 | |||
ASML Holding NV, NYRS | 6,222 | 1,794,611 | |||
Axcelis Technologies, Inc. (A) | 9,649 | 225,401 | |||
BE Semiconductor Industries NV (A) | 45,538 | 1,884,626 | |||
Globalwafers Company, Ltd. | 125,500 | 1,597,242 | |||
KLA Corp. | 6 | 985 | |||
Lattice Semiconductor Corp. (A) | 58,852 | 1,324,759 | |||
Marvell Technology Group, Ltd. | 110,683 | 2,959,663 | |||
MaxLinear, Inc. (A) | 31,700 | 522,733 | |||
MediaTek, Inc. | 260,734 | 3,600,326 | |||
NVIDIA Corp. | 2,956 | 863,980 | |||
Realtek Semiconductor Corp. | 307,000 | 2,628,941 | |||
Renesas Electronics Corp. (A) | 2,670 | 14,099 | |||
Tower Semiconductor, Ltd. (A) | 64,224 | 1,235,349 | |||
Software 4.6% | |||||
8x8, Inc. (A) | 16,176 | 274,345 | |||
Adobe, Inc. (A) | 5,591 | 1,977,201 | |||
Alteryx, Inc., Class A (A) | 2,139 | 242,092 | |||
Atlassian Corp. PLC, Class A (A) | 465 | 72,303 | |||
Avalara, Inc. (A) | 4,163 | 372,047 | |||
Blackbaud, Inc. | 8,120 | 448,711 | |||
Bravura Solutions, Ltd. | 176,907 | 552,420 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 17 |
Shares | Value | ||||
Information technology (continued) | |||||
Software (continued) | |||||
Ceridian HCM Holding, Inc. (A) | 20,355 | $1,200,334 | |||
Guidewire Software, Inc. (A) | 6,467 | 587,462 | |||
HubSpot, Inc. (A) | 13,917 | 2,346,824 | |||
Intuit, Inc. | 4,359 | 1,176,102 | |||
Microsoft Corp. | 5,393 | 966,480 | |||
Paycom Software, Inc. (A) | 5,985 | 1,562,205 | |||
Q2 Holdings, Inc. (A) | 1,000 | 79,720 | |||
Rapid7, Inc. (A) | 33,110 | 1,508,161 | |||
RingCentral, Inc., Class A (A) | 4,331 | 989,763 | |||
salesforce.com, Inc. (A) | 1,580 | 255,881 | |||
ServiceNow, Inc. (A) | 10,227 | 3,595,200 | |||
Slack Technologies, Inc., Class A (A) | 129,533 | 3,457,236 | |||
Splunk, Inc. (A) | 28,542 | 4,006,155 | |||
SVMK, Inc. (A) | 34,314 | 538,730 | |||
The Trade Desk, Inc., Class A (A) | 511 | 149,508 | |||
Workday, Inc., Class A (A)(C) | 30,771 | 4,735,657 | |||
Technology hardware, storage and peripherals 0.0% | |||||
Apple, Inc. | 53 | 15,571 | |||
Materials 0.5% | 3,088,053 | ||||
Construction materials 0.0% | |||||
LafargeHolcim, Ltd. (A) | 502 | 20,850 | |||
Metals and mining 0.5% | |||||
Baoshan Iron & Steel Company, Ltd., Class A | 839,334 | 575,347 | |||
Barrick Gold Corp. | 96,884 | 2,491,856 | |||
Real estate 1.3% | 9,116,801 | ||||
Equity real estate investment trusts 0.4% | |||||
American Tower Corp. | 525 | 124,950 | |||
Charter Hall Retail REIT (A) | 214,030 | 440,423 | |||
Growthpoint Properties, Ltd. | 37,198 | 27,931 | |||
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 7,182 | 201,024 | |||
Link REIT | 68,436 | 610,055 | |||
Medical Properties Trust, Inc. | 80,147 | 1,373,720 | |||
Real estate management and development 0.9% | |||||
BR Properties SA | 602,000 | 967,557 | |||
CK Asset Holdings, Ltd. | 360,340 | 2,276,895 | |||
Lendlease Group (A) | 143,448 | 1,142,683 | |||
New World Development Company, Ltd. | 1,095,229 | 1,293,951 | |||
Sino Land Company, Ltd. | 470,553 | 657,612 |
18 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Utilities 1.8% | $11,916,963 | ||||
Electric utilities 0.8% | |||||
Avangrid, Inc. | 56,247 | 2,418,621 | |||
Power Grid Corp. of India, Ltd. | 1,257,479 | 2,709,336 | |||
Gas utilities 0.5% | |||||
Rubis SCA | 73,044 | 3,272,555 | |||
Multi-utilities 0.5% | |||||
Engie SA | 324,110 | 3,516,451 | |||
Preferred securities 0.0% | $54,485 | ||||
(Cost $46,822) | |||||
Financials 0.0% | 54,485 | ||||
Capital markets 0.0% | |||||
Ares Management Corp., 7.000% | 2,125 | 54,485 | |||
Rate (%) | Maturity date | Par value^ | Value | ||
Corporate bonds 3.8% | $25,516,769 | ||||
(Cost $22,877,892) | |||||
Consumer discretionary 0.2% | 1,486,523 | ||||
Automobiles 0.2% | |||||
Ford Motor Company | 9.625 | 04-22-30 | 1,513,000 | 1,486,523 | |
Energy 3.1% | 21,196,660 | ||||
Oil, gas and consumable fuels 3.1% | |||||
CNX Resources Corp. (B) | 7.250 | 03-14-27 | 4,387,000 | 3,843,670 | |
Continental Resources, Inc. | 4.375 | 01-15-28 | 671,000 | 516,670 | |
Diamondback Energy, Inc. | 2.875 | 12-01-24 | 160,000 | 146,279 | |
Diamondback Energy, Inc. | 3.250 | 12-01-26 | 5,387,000 | 4,660,462 | |
Magellan Midstream Partners LP | 3.950 | 03-01-50 | 2,291,000 | 2,187,600 | |
Occidental Petroleum Corp. | 2.900 | 08-15-24 | 707,000 | 537,108 | |
ONEOK, Inc. | 3.100 | 03-15-30 | 886,000 | 703,878 | |
Plains All American Pipeline LP | 3.550 | 12-15-29 | 4,962,000 | 4,235,337 | |
Plains All American Pipeline LP | 4.650 | 10-15-25 | 2,375,000 | 2,236,401 | |
Targa Resources Partners LP | 4.250 | 11-15-23 | 1,099,000 | 991,848 | |
WPX Energy, Inc. | 5.750 | 06-01-26 | 1,255,000 | 1,137,407 | |
Industrials 0.3% | 1,678,000 | ||||
Aerospace and defense 0.3% | |||||
The Boeing Company | 5.805 | 05-01-50 | 1,678,000 | 1,678,000 | |
Information technology 0.2% | 1,155,586 | ||||
IT services 0.2% | |||||
Science Applications International Corp. (B) | 4.875 | 04-01-28 | 1,180,000 | 1,155,586 | |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 19 |
Contracts/Notional amount | Value | ||||
Purchased options 0.7% | $4,950,019 | ||||
(Cost $8,352,918) | |||||
Calls 0.4% | 3,095,262 | ||||
Exchange Traded Option on Global Payments, Inc. (Expiration Date: 5-15-20; Strike Price: $195.00; Notional Amount: 24,700) (A) | 247 | 8,028 | |||
Exchange Traded Option on iShares Russell 2000 ETF (Expiration Date: 12-18-20; Strike Price: $134.00; Notional Amount: 120,600) (A) | 1,206 | 1,401,372 | |||
Exchange Traded Option on iShares Russell 2000 ETF (Expiration Date: 12-18-20; Strike Price: $145.00; Notional Amount: 55,700) (A) | 557 | 366,785 | |||
Over the Counter Option on EURO STOXX Banks Index (Expiration Date: 12-17-21; Strike Price: EUR 120.00; Counterparty: JPMorgan Chase Bank, N.A.) (A)(E) | 467,369 | 69,248 | |||
Over the Counter Option on EURO STOXX Banks Index (Expiration Date: 12-18-20; Strike Price: EUR 110.06; Counterparty: Goldman Sachs & Company LLC) (A)(E) | 25,161 | 944 | |||
Over the Counter Option on EURO STOXX Banks Index (Expiration Date: 6-18-21; Strike Price: EUR 114.85; Counterparty: Goldman Sachs & Company LLC) (A)(E) | 25,161 | 2,645 | |||
Over the Counter Option on EURO STOXX Banks Index (Expiration Date: 6-18-21; Strike Price: EUR 120.64; Counterparty: Goldman Sachs & Company LLC) (A)(E) | 129,114 | 8,907 | |||
Over the Counter Option on EURO STOXX Banks Index (Expiration Date: 6-19-20; Strike Price: EUR 105.28; Counterparty: Goldman Sachs & Company LLC) (A)(E) | 25,161 | 118 | |||
Over the Counter Option on EURO STOXX Banks Index (Expiration Date: 6-19-20; Strike Price: EUR 108.65; Counterparty: Goldman Sachs & Company LLC) (A)(E) | 62,909 | 270 | |||
Over the Counter Option on EURO STOXX Banks Index (Expiration Date: 6-19-20; Strike Price: EUR 55.32; Counterparty: Goldman Sachs & Company LLC) (A)(E) | 26,507 | 105,426 |
20 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Contracts/Notional amount | Value | ||||
Calls (continued) | |||||
Over the Counter Option on EURO STOXX Banks Index (Expiration Date: 6-19-20; Strike Price: EUR 61.83; Counterparty: Goldman Sachs & Company LLC) (A)(E) | 53,007 | $71,393 | |||
Over the Counter Option on Standard Chartered PLC (Expiration Date: 8-21-20; Strike Price: GBP 6.61; Counterparty: Goldman Sachs & Company LLC) (A)(E) | 203,537 | 104 | |||
Over the Counter Option on the AUD vs. JPY (Expiration Date: 10-21-21; Strike Price: AUD 93.00; Counterparty: HSBC Bank PLC) (A)(E) | 1,270,000 | 20,987 | |||
Over the Counter Option on the AUD vs. JPY (Expiration Date: 10-22-20; Strike Price: AUD 86.00; Counterparty: HSBC Bank PLC) (A)(E) | 865,000 | 4,903 | |||
Over the Counter Option on the USD vs. CNY (Expiration Date: 1-21-21; Strike Price: $7.17; Counterparty: Goldman Sachs & Company LLC) (A)(E) | 6,789,000 | 117,144 | |||
Over the Counter Option on the USD vs. CNY (Expiration Date: 1-21-21; Strike Price: $7.17; Counterparty: Morgan Stanley & Company International PLC) (A)(E) | 23,219,000 | 400,644 | |||
Over the Counter Option on the USD vs. CNY (Expiration Date: 1-21-21; Strike Price: $7.17; Counterparty: Morgan Stanley & Company International PLC) (A)(E) | 17,626,000 | 302,480 | |||
Over the Counter Option on the USD vs. JPY (Expiration Date: 9-23-21; Strike Price: $114.00; Counterparty: Goldman Sachs & Company LLC) (A)(E) | 20,020,323 | 190,533 | |||
Over the Counter Option on TOPIX Banks Index (Expiration Date: 9-4-20; Strike Price: JPY 138.95; Counterparty: Morgan Stanley & Company, Inc.) (A)(E) | 2,320,255 | 23,331 | |||
Puts 0.3% | 1,854,757 | ||||
Exchange Traded Option on Invesco QQQ Trust Series 1 (Expiration Date: 5-15-20; Strike Price: $184.00; Notional Amount: 54,700) (A) | 547 | 18,598 | |||
Exchange Traded Option on Invesco QQQ Trust Series 1 (Expiration Date: 5-15-20; Strike Price: $195.00; Notional Amount: 109,200) (A) | 1,092 | 84,084 | |||
Exchange Traded Option on iShares MSCI EAFE ETF (Expiration Date: 1-15-21; Strike Price: $63.00; Notional Amount:10,000) (A) | 100 | 88,250 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 21 |
Contracts/Notional amount | Value | ||||
Puts (continued) | |||||
Exchange Traded Option on iShares MSCI EAFE ETF (Expiration Date: 6-19-20; Strike Price: $55.00; Notional Amount: 131,500) (A) | 1,315 | $229,241 | |||
Exchange Traded Option on iShares MSCI Emerging Markets ETF (Expiration Date: 9-18-20; Strike Price: $37.73; Notional Amount: 32,500) (A) | 325 | 108,063 | |||
Exchange Traded Option on iShares MSCI Emerging Markets ETF (Expiration Date: 9-30-20; Strike Price: $37.73; Notional Amount: 30,500) (A) | 305 | 103,700 | |||
Exchange Traded Option on iShares Russell 2000 ETF (Expiration Date: 1-15-21; Strike Price: $148.00; Notional Amount: 16,700) (A) | 167 | 402,554 | |||
Exchange Traded Option on iShares Russell 2000 ETF (Expiration Date: 9-30-20; Strike Price: $138.00; Notional Amount: 8,300) (A) | 83 | 131,057 | |||
Exchange Traded Option on iShares Russell 2000 ETF (Expiration Date: 9-30-20; Strike Price: $142.00; Notional Amount: 8,800) (A) | 88 | 158,796 | |||
Exchange Traded Option on S&P 500 Index (Expiration Date: 4-30-20; Strike Price: $2,725.00; Notional Amount: 9,800) (A) | 98 | 245 | |||
Exchange Traded Option on S&P 500 Index (Expiration Date: 5-15-20; Strike Price: $2,800.00; Notional Amount: 4,500) (A) | 45 | 164,250 | |||
Exchange Traded Option on WEX, Inc. (Expiration Date: 5-15-20; Strike Price: $130.00; Notional Amount: 3,000) (A) | 30 | 19,050 | |||
Over the Counter Option on the EUR vs. USD (Expiration Date: 6-26-20; Strike Price: EUR 1.08; Counterparty: Morgan Stanley & Company International PLC) (A)(E) | 18,339,000 | 78,076 | |||
Over the Counter Option on the USD vs. JPY (Expiration Date: 6-17-24; Strike Price: $95.99; Counterparty: BNP Paribas SA) (A)(E) | 6,843,000 | 268,793 | |||
Yield* (%) | Maturity date | Par value^ | Value | ||
Short-term investments 35.4% | $239,147,896 | ||||
(Cost $239,116,237) | |||||
U.S. Government 12.0% | 81,294,233 | ||||
U.S. Treasury Bill (C) | 0.130 | 12-31-20 | 295,000 | 294,718 | |
U.S. Treasury Bill (C) | 0.270 | 05-12-20 | 32,947,000 | 32,946,383 | |
U.S. Treasury Bill (C) | 0.398 | 09-10-20 | 925,000 | 924,593 | |
U.S. Treasury Bill (C) | 0.405 | 01-28-21 | 2,450,000 | 2,447,108 |
22 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Yield* (%) | Maturity date | Par value^ | Value | ||
U.S. Government (continued) | |||||
U.S. Treasury Bill (C) | 0.410 | 06-11-20 | 6,100,000 | $6,099,288 | |
U.S. Treasury Bill (C) | 0.411 | 08-20-20 | 5,685,000 | 5,683,028 | |
U.S. Treasury Bill | 0.510 | 05-05-20 | 90,000 | 90,000 | |
U.S. Treasury Bill (C) | 1.511 | 05-07-20 | 2,405,000 | 2,404,979 | |
U.S. Treasury Bill (C) | 1.535 | 05-14-20 | 27,525,000 | 27,524,292 | |
U.S. Treasury Bill (C) | 1.538 | 05-21-20 | 2,880,000 | 2,879,844 |
Yield (%) | Shares | Value | |||
Short-term funds 23.4% | 157,853,663 | ||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 0.2162(F) | 157,853,663 | 157,853,663 |
Total investments (Cost $642,789,256) 100.0% | $675,505,950 | ||||
Other assets and liabilities, net (0.0%) | (49,797) | ||||
Total net assets 100.0% | $675,456,153 |
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 | |
AUD | Australian Dollar |
CNY | Chinese Yuan Renminbi |
EUR | Euro |
GBP | Pound Sterling |
JPY | Japanese Yen |
Security Abbreviations and Legend | |
ADR | American Depositary Receipt |
GDR | Global Depositary Receipt |
NVDR | Non-Voting Depositary Receipt |
NYRS | New York Registry Shares |
(A) | Non-income producing security. |
(B) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
(C) | All or a portion of this security is segregated at the custodian as collateral for certain derivatives. |
(D) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
(E) | For this type of option, notional amounts are equivalent to number of contracts. |
(F) | The rate shown is the annualized seven-day yield as of 4-30-20. |
* | Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 23 |
Open contracts | Number of contracts | Position | Expiration date | Notional basis^ | Notional value^ | Unrealized appreciation (depreciation) |
Euro STOXX 50 Index Futures | 39 | Short | Jun 2020 | $(993,072) | $(1,233,850) | $(240,778) |
SGX Nifty 50 Index Futures | 250 | Short | May 2020 | (4,675,716) | (4,839,251) | (163,535) |
$(404,313) |
Contract to buy | Contract to sell | Counterparty (OTC) | Contractual settlement date | Unrealized appreciation | Unrealized depreciation | ||
CAD | 2,075,000 | USD | 1,494,619 | GSI | 6/17/2020 | — | $(3,768) |
EUR | 5,295,000 | USD | 5,740,389 | MSI | 5/29/2020 | $64,773 | — |
EUR | 5,407,000 | USD | 5,995,019 | DB | 6/17/2020 | — | (64,697) |
EUR | 4,260,000 | USD | 4,662,864 | HUS | 6/17/2020 | 9,444 | — |
GBP | 4,590,000 | USD | 5,671,946 | MSI | 5/29/2020 | 109,697 | — |
GBP | 2,711,000 | USD | 3,392,613 | SCB | 6/17/2020 | 22,507 | — |
HKD | 14,545,000 | USD | 1,868,431 | JPM | 6/17/2020 | 6,625 | — |
JPY | 435,058,000 | USD | 4,065,108 | SSB | 5/29/2020 | — | (9,931) |
JPY | 1,256,500,000 | USD | 11,969,847 | DB | 6/17/2020 | — | (254,522) |
JPY | 352,700,000 | USD | 3,359,768 | NWM | 6/17/2020 | — | (71,272) |
NZD | 4,665,000 | USD | 2,785,238 | GSI | 6/17/2020 | 75,672 | — |
USD | 9,351,576 | EUR | 8,626,000 | MSI | 5/29/2020 | — | (105,521) |
USD | 788,800 | EUR | 712,000 | DB | 6/17/2020 | 7,888 | — |
USD | 11,498,722 | EUR | 10,347,000 | GSI | 6/17/2020 | 150,279 | — |
USD | 7,364,880 | GBP | 5,960,000 | MSI | 5/29/2020 | — | (142,439) |
USD | 1,306,392 | GBP | 1,050,000 | GSI | 6/17/2020 | — | (16,321) |
USD | 778,853 | JPY | 83,700,000 | DB | 6/17/2020 | — | (1,547) |
USD | 2,884,168 | JPY | 309,800,000 | GSI | 6/17/2020 | — | (4,338) |
USD | 1,993,877 | JPY | 210,500,000 | JPM | 6/17/2020 | 31,222 | — |
USD | 3,526,804 | JPY | 385,000,000 | MSI | 6/17/2020 | — | (62,850) |
USD | 2,580,244 | NZD | 4,665,000 | DB | 6/17/2020 | — | (280,666) |
$478,107 | $(1,017,872) |
24 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Options on securities | ||||||||
Counterparty (OTC)/ Exchange-traded | Name of issuer | Exercise price | Expiration date | Number of contracts | Notional amount | Premium | Value | |
Puts | ||||||||
GSI | Standard Chartered PLC | GBP | 5.04 | Aug 2020 | 203,537 | 203,537 | $29,493 | $(260,861) |
$29,493 | $(260,861) | |||||||
Exchange-traded | Global Payments, Inc. | USD | 170.00 | May 2020 | 247 | 24,700 | 127,862 | (249,470) |
Exchange-traded | Invesco QQQ Trust Series 1 | USD | 161.00 | May 2020 | 1,092 | 109,200 | 157,366 | (13,104) |
Exchange-traded | iShares Russell 2000 ETF | USD | 97.00 | Dec 2020 | 1,206 | 120,600 | 774,931 | (531,845) |
Exchange-traded | iShares Russell 2000 ETF | USD | 106.00 | Dec 2020 | 557 | 55,700 | 307,831 | (351,189) |
Exchange-traded | JPMorgan Chase & Co. | USD | 80.00 | May 2020 | 70 | 7,000 | 19,985 | (2,345) |
Exchange-traded | JPMorgan Chase & Co. | USD | 85.00 | May 2020 | 70 | 7,000 | 31,235 | (4,865) |
Exchange-traded | JPMorgan Chase & Co. | USD | 75.00 | Jun 2020 | 70 | 7,000 | 25,844 | (9,240) |
Exchange-traded | JPMorgan Chase & Co. | USD | 80.00 | Jun 2020 | 70 | 7,000 | 35,732 | (13,195) |
$1,480,786 | $(1,175,253) | |||||||
$1,510,279 | $(1,436,114) |
Options on index | ||||||||
Counterparty (OTC)/ Exchange- traded | Name of issuer | Exercise price | Expiration date | Number of contracts | Notional amount | Premium | Value | |
Puts | ||||||||
GSI | EURO STOXX Banks Index | EUR | 44.97 | Jun 2020 | 53,007 | 53,007 | $122,859 | $(49,018) |
GSI | EURO STOXX Banks Index | EUR | 40.23 | Jun 2020 | 26,507 | 26,507 | 45,610 | (11,030) |
$168,469 | $(60,048) | |||||||
Exchange-traded | S&P 500 Index | USD | 2,600.00 | Apr 2020 | 98 | 9,800 | 42,794 | (245) |
$42,794 | $(245) | |||||||
$211,263 | $(60,293) |
Foreign currency options | |||||||
Description | Counterparty (OTC) | Exercise price | Expiration date | Notional amount* | Premium | Value | |
Calls |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 25 |
Foreign currency options (continued) | |||||||
Description | Counterparty (OTC) | Exercise price | Expiration date | Notional amount* | Premium | Value | |
U.S. Dollar vs. Japanese Yen | GSI | USD | 135.00 | Sep 2021 | 20,020,323 | $271,277 | $(9,089) |
$271,277 | $(9,089) | ||||||
* For this type of option, notional amounts are equivalent to number of contracts. |
Total return swaps | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | Hang Seng Properties Index | 1-Month HKD HIBOR - 0.30% | Monthly | HKD | 335,897 | May 2020 | GSI | — | $(994) | $(994) |
Pay | Hang Seng Properties Index | 1-Month HKD HIBOR - 0.30% | Monthly | HKD | 33,590 | May 2020 | GSI | — | (100) | (100) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.28% | Monthly | USD | 103,817 | May 2020 | GSI | — | (6,322) | (6,322) |
Pay | iShares Nasdaq Biotechnology ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 396,551 | May 2020 | GSI | — | 6,985 | 6,985 |
Pay | iShares Nasdaq Biotechnology ETF | 1-Month USD LIBOR - 0.55% | Monthly | USD | 1,129,306 | May 2020 | GSI | — | 19,909 | 19,909 |
Pay | iShares North American Tech-Multimedia Networking ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 2,254,733 | May 2020 | GSI | — | (71,491) | (71,491) |
Pay | iShares North American Tech-Multimedia Networking ETF | 1-Month USD LIBOR - 2.30% | Monthly | USD | 549,208 | May 2020 | GSI | — | (17,731) | (17,731) |
Pay | iShares North American Tech-Multimedia Networking ETF | 1-Month USD LIBOR - 2.85% | Monthly | USD | 103,121 | May 2020 | GSI | — | (3,329) | (3,329) |
Pay | iShares PHLX Semiconductor ETF | 1-Month USD LIBOR - 1.29% | Monthly | USD | 1,238,018 | May 2020 | GSI | — | (49,501) | (49,501) |
Pay | iShares PHLX Semiconductor ETF | 1-Month USD LIBOR - 1.29% | Monthly | USD | 1,661,103 | May 2020 | GSI | — | (66,303) | (66,303) |
Pay | iShares PHLX Semiconductor ETF | 1-Month USD LIBOR - 1.83% | Monthly | USD | 1,571,687 | May 2020 | GSI | — | (62,742) | (62,742) |
Pay | iShares PHLX Semiconductor ETF | 1-Month USD LIBOR - 1.40% | Monthly | USD | 1,770,440 | May 2020 | GSI | — | (71,928) | (71,928) |
26 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | iShares PHLX Semiconductor ETF | 1-Month USD LIBOR - 1.00% | Monthly | USD | 192,641 | May 2020 | GSI | — | $(7,826) | $(7,826) |
Pay | iShares S&P North American Technology ETF | 1-Month USD LIBOR - 2.85% | Monthly | USD | 505,016 | May 2020 | GSI | — | (24,043) | (24,043) |
Pay | iShares S&P North American Technology ETF | 1-Month USD LIBOR - 2.85% | Monthly | USD | 49,608 | May 2020 | GSI | — | (2,334) | (2,334) |
Pay | iShares S&P North American Technology ETF | 1-Month USD LIBOR - 3.25% | Monthly | USD | 514,656 | May 2020 | GSI | — | (26,808) | (26,808) |
Pay | iShares S&P North American Technology ETF | 1-Month USD LIBOR - 1.05% | Monthly | USD | 117,320 | May 2020 | GSI | — | (5,548) | (5,548) |
Pay | S&P 500 High Beta Total Return Index | 1-Month USD LIBOR - 0.15% | Monthly | USD | 3,734,223 | May 2020 | GSI | — | (355,260) | (355,260) |
Pay | SPDR S&P 500 ETF | 1-Month USD LIBOR - 0.33% | Monthly | USD | 3,356,834 | May 2020 | GSI | — | (121,954) | (121,954) |
Pay | SPDR S&P 500 ETF | 1-Month USD LIBOR - 0.33% | Monthly | USD | 8,507,115 | May 2020 | GSI | — | (309,064) | (309,064) |
Pay | SPDR S&P Biotech ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 142,250 | May 2020 | GSI | — | 2,385 | 2,385 |
Pay | SPDR S&P Biotech ETF | 1-Month USD LIBOR - 0.75% | Monthly | USD | 914,275 | May 2020 | GSI | — | 15,340 | 15,340 |
Pay | SPDR S&P Regional Banking ETF | 1-Month USD LIBOR - 1.00% | Monthly | USD | 2,296,182 | May 2020 | GSI | — | (311,527) | (311,527) |
Pay | SPDR S&P Regional Banking ETF | 1-Month USD LIBOR - 0.90% | Monthly | USD | 2,609,544 | May 2020 | GSI | — | (350,087) | (350,087) |
Pay | SPDR S&P Regional Banking ETF | 1-Month USD LIBOR - 0.75% | Monthly | USD | 1,409,334 | May 2020 | GSI | — | (189,040) | (189,040) |
Pay | SPDR S&P Regional Banking ETF | 1-Month USD LIBOR - 0.75% | Monthly | USD | 791,188 | May 2020 | GSI | — | (106,143) | (106,143) |
Pay | SPDR S&P Regional Banking ETF | 1-Month USD LIBOR - 0.35% | Monthly | USD | 1,383,257 | May 2020 | GSI | — | (185,619) | (185,619) |
Pay | SPDR S&P Retail ETF | 1-Month USD LIBOR - 2.55% | Monthly | USD | 590,946 | May 2020 | GSI | — | (56,883) | (56,883) |
Pay | SPDR S&P Retail ETF | 1-Month USD LIBOR - 2.55% | Monthly | USD | 510,855 | May 2020 | GSI | — | (42,789) | (42,789) |
Pay | SPDR S&P Retail ETF | 1-Month USD LIBOR - 2.40% | Monthly | USD | 1,432,223 | May 2020 | GSI | — | (119,921) | (119,921) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 27 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | SPDR S&P Retail ETF | 1-Month USD LIBOR - 2.40% | Monthly | USD | 923,746 | May 2020 | GSI | — | $(77,305) | $(77,305) |
Pay | SPDR S&P Biotech ETF | 1-Month USD LIBOR - 0.75% | Monthly | USD | 2,501,626 | Mar 2021 | GSI | — | 41,408 | 41,408 |
Pay | Consumer Discretionary Select Sector SPDR Fund | 1-Month USD LIBOR - 0.28% | Monthly | USD | 80,335 | May 2023 | GSI | — | (4,343) | (4,343) |
Pay | Euro STOXX 50 ETF | 1-Month EUR EURIBOR - 0.50% | Monthly | EUR | 5,804,453 | May 2023 | GSI | — | (40,292) | (40,292) |
Pay | Financial Select Sector SPDR Fund | 1-Month USD LIBOR - 0.28% | Monthly | USD | 233,398 | May 2023 | GSI | — | (10,024) | (10,024) |
Pay | GS China Real Financial Conditions Index | 1-Month HKD HIBOR - 0.70% | Monthly | HKD | 11,515,311 | May 2023 | GSI | — | (53,876) | (53,876) |
Pay | Hang Seng Properties Index | 1-Month HKD HIBOR - 0.30% | Monthly | HKD | 100,769 | May 2023 | GSI | — | (306) | (306) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.28% | Monthly | USD | 12,249,782 | May 2023 | GSI | — | (369,600) | (369,600) |
Pay | iShares Core S&P Small-Cap ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 172,762 | May 2023 | GSI | — | (16,155) | (16,155) |
Pay | iShares Expanded Tech-Software Sector ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 288,657 | May 2023 | GSI | — | (9,859) | (9,859) |
Pay | iShares MSCI EAFE ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 9,581,466 | May 2023 | GSI | — | (283,943) | (283,943) |
Pay | iShares MSCI India ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 264,888 | May 2023 | GSI | — | (16,388) | (16,388) |
Pay | iShares MSCI India ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 394,785 | May 2023 | GSI | — | (24,420) | (24,420) |
Pay | iShares North American Tech-Multimedia Networking ETF | 1-Month USD LIBOR - 2.85% | Monthly | USD | 248,185 | May 2023 | GSI | — | (8,023) | (8,023) |
Pay | iShares PHLX Semiconductor ETF | 1-Month USD LIBOR - 1.10% | Monthly | USD | 223,427 | May 2023 | GSI | — | (10,887) | (10,887) |
Pay | iShares PHLX Semiconductor ETF | 1-Month USD LIBOR - 1.10% | Monthly | USD | 684,996 | May 2023 | GSI | — | (27,856) | (27,856) |
28 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | iShares Russell 1000 Growth ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 1,937,433 | May 2023 | GSI | — | $(43,138) | $(43,138) |
Pay | iShares Russell 2000 Growth ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 261,107 | May 2023 | GSI | — | (18,022) | (18,022) |
Pay | iShares Russell Mid-Cap Growth ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 184,104 | May 2023 | GSI | — | (7,117) | (7,117) |
Pay | iShares S&P North American Technology ETF | 1-Month USD LIBOR - 1.05% | Monthly | USD | 505,957 | May 2023 | GSI | — | (23,946) | (23,946) |
Pay | iShares S&P Small-Cap 600 Growth ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 114,265 | May 2023 | GSI | — | (9,101) | (9,101) |
Pay | iShares U.S. Telecommunications ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 157,238 | May 2023 | GSI | — | (1,742) | (1,742) |
Pay | PureFunds ISE Cyber Security ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 237,300 | May 2023 | GSI | — | (6,101) | (6,101) |
Pay | S&P 500 High Beta Total Return Index | 1-Month USD LIBOR - 0.15% | Monthly | USD | 304,192 | May 2023 | GSI | — | (29,194) | (29,194) |
Pay | SPDR S&P MidCap 400 ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 123,473 | May 2023 | GSI | — | (9,760) | (9,760) |
Pay | SPDR S&P Regional Banking ETF | 1-Month USD LIBOR - 0.60% | Monthly | USD | 1,241,649 | May 2023 | GSI | — | (166,610) | (166,610) |
Pay | SPDR S&P Regional Banking ETF | 1-Month USD LIBOR - 0.60% | Monthly | USD | 28,179 | May 2023 | GSI | — | (3,781) | (3,781) |
Pay | SPDR S&P Regional Banking ETF | 1-Month USD LIBOR - 0.60% | Monthly | USD | 3,005,681 | May 2023 | GSI | — | (373,564) | (373,564) |
Pay | SPDR S&P Regional Banking ETF | 1-Month USD LIBOR - 0.60% | Monthly | USD | 3,267,398 | May 2023 | GSI | — | (406,356) | (406,356) |
Pay | SPDR S&P Regional Banking ETF | 1-Month USD LIBOR - 0.60% | Monthly | USD | 34,792 | May 2023 | GSI | — | (4,328) | (4,328) |
Pay | SPDR S&P Retail ETF | 1-Month USD LIBOR - 2.40% | Monthly | USD | 1,434,092 | May 2023 | GSI | — | (113,596) | (113,596) |
Pay | SPDR S&P Retail ETF | 1-Month USD LIBOR - 2.40% | Monthly | USD | 1,141,524 | May 2023 | GSI | — | (90,471) | (90,471) |
Pay | SPDR S&P Retail ETF | 1-Month USD LIBOR - 2.40% | Monthly | USD | 3,586,725 | May 2023 | GSI | — | (284,397) | (284,397) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 29 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | SPDR S&P Retail ETF | 1-Month USD LIBOR - 2.40% | Monthly | USD | 2,810,161 | May 2023 | GSI | — | — | — |
Pay | SPDR S&P Retail ETF | 1-Month USD LIBOR - 2.40% | Monthly | USD | 2,242,730 | May 2023 | GSI | — | — | — |
Pay | VanEck Vectors Semiconductor ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 617,972 | May 2023 | GSI | — | $(20,728) | $(20,728) |
Pay | VanEck Vectors Semiconductor ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 1,681,159 | May 2023 | GSI | — | (56,366) | (56,366) |
Pay | VanEck Vectors Semiconductor ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 12,155 | May 2023 | GSI | — | (414) | (414) |
Pay | VanEck Vectors Semiconductor ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 4,602,660 | May 2023 | GSI | — | (156,509) | (156,509) |
Pay | VanEck Vectors Semiconductor ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 4,267 | May 2023 | GSI | — | (145) | (145) |
Pay | VanEck Vectors Semiconductor ETF | 1-Month USD LIBOR - 0.75% | Monthly | USD | 1,300,298 | May 2023 | GSI | — | (2,629) | (2,629) |
Pay | Vanguard FTSE Developed Markets ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 2,123,455 | May 2023 | GSI | — | (82,190) | (82,190) |
Pay | Vanguard Small-Cap Growth ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 283,198 | May 2023 | GSI | — | (17,668) | (17,668) |
Pay | Xtrackers Harvest CSI 300 China A-Shares ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 384,337 | May 2023 | GSI | — | 284 | 284 |
Pay | Consumer Discretionary Select Sector SPDR Fund | 1-Month USD LIBOR - 0.28% | Monthly | USD | 5,675,069 | May 2020 | JPM | — | (932,111) | (932,111) |
Pay | Health Care Select Sector SPDR Fund | 1-Month USD LIBOR - 0.33% | Monthly | USD | 11,644,758 | May 2020 | JPM | — | (1,064,163) | (1,064,163) |
Pay | Health Care Select Sector SPDR Fund | 1-Month USD LIBOR - 0.28% | Monthly | USD | 6,493,015 | May 2020 | JPM | — | (593,368) | (593,368) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.33% | Monthly | USD | 1,491,283 | May 2020 | JPM | — | (176,458) | (176,458) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.28% | Monthly | USD | 5,700,671 | May 2020 | JPM | — | (658,599) | (658,599) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.28% | Monthly | USD | 144,806 | May 2020 | JPM | — | (16,729) | (16,729) |
30 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | iShares Core S&P Small-Cap ETF | 1-Month USD LIBOR - 0.33% | Monthly | USD | 2,679,463 | May 2020 | JPM | — | $(398,397) | $(398,397) |
Pay | iShares Core S&P Small-Cap ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 68,607 | May 2020 | JPM | — | (10,160) | (10,160) |
Pay | iShares Expanded Tech-Software Sector ETF | 1-Month USD LIBOR - 2.30% | Monthly | USD | 1,882,943 | May 2020 | JPM | — | (248,363) | (248,363) |
Pay | iShares Expanded Tech-Software Sector ETF | 1-Month USD LIBOR - 2.30% | Monthly | USD | 1,743,978 | May 2020 | JPM | — | (229,007) | (229,007) |
Pay | iShares MSCI Emerging Markets ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 24,668 | May 2020 | JPM | — | (1,186) | (1,186) |
Pay | iShares MSCI Emerging Markets ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 11,705 | May 2020 | JPM | — | (563) | (563) |
Pay | iShares MSCI Emerging Markets ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 1,395,259 | May 2020 | JPM | — | (67,065) | (67,065) |
Pay | iShares MSCI Emerging Markets ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 2,756,556 | May 2020 | JPM | — | (132,497) | (132,497) |
Pay | iShares MSCI Emerging Markets ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 1,188 | May 2020 | JPM | — | (57) | (57) |
Pay | iShares MSCI Hong Kong ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 19,847 | May 2020 | JPM | — | (255) | (255) |
Pay | iShares MSCI Hong Kong ETF | 1-Month USD LIBOR - 2.39% | Monthly | USD | 1,857 | May 2020 | JPM | — | (24) | (24) |
Pay | iShares Nasdaq Biotechnology ETF | 1-Month USD LIBOR - 0.92% | Monthly | USD | 3,127,545 | May 2020 | JPM | — | (342,891) | (342,891) |
Pay | iShares North American Tech-Multimedia Networking ETF | 1-Month USD LIBOR - 1.35% | Monthly | USD | 932,874 | May 2020 | JPM | — | (82,400) | (82,400) |
Pay | iShares North American Tech-Multimedia Networking ETF | 1-Month USD LIBOR - 1.35% | Monthly | USD | 168,033 | May 2020 | JPM | — | (14,842) | (14,842) |
Pay | iShares Russell 2000 Growth ETF | 1-Month USD LIBOR - 1.00% | Monthly | USD | 3,922,766 | May 2020 | JPM | — | (632,269) | (632,269) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 31 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | iShares Russell 2000 Growth ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 100,499 | May 2020 | JPM | — | $(16,139) | $(16,139) |
Pay | iShares Russell Mid-Cap Growth ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 70,710 | May 2020 | JPM | — | (9,154) | (9,154) |
Pay | iShares S&P North American Technology ETF | 1-Month USD LIBOR - 6.30% | Monthly | USD | 5,567,453 | May 2020 | JPM | — | (699,830) | (699,830) |
Pay | iShares S&P North American Technology ETF | 1-Month USD LIBOR - 6.35% | Monthly | USD | 92,190 | May 2020 | JPM | — | (11,568) | (11,568) |
Pay | iShares S&P North American Technology ETF | 1-Month USD LIBOR - 5.44% | Monthly | USD | 86,947 | May 2020 | JPM | — | (10,910) | (10,910) |
Pay | iShares S&P North American Technology ETF | 1-Month USD LIBOR - 5.44% | Monthly | USD | 1,420,208 | May 2020 | JPM | — | (178,202) | (178,202) |
Pay | iShares S&P Small-Cap 600 Growth ETF | 1-Month USD LIBOR - 3.55% | Monthly | USD | 1,755,316 | May 2020 | JPM | — | (237,782) | (237,782) |
Pay | iShares S&P Small-Cap 600 Growth ETF | 1-Month USD LIBOR - 3.55% | Monthly | USD | 45,428 | May 2020 | JPM | — | (6,127) | (6,127) |
Pay | iShares U.S. Medical Devices ETF | 1-Month USD LIBOR - 1.87% | Monthly | USD | 362,735 | May 2020 | JPM | — | (37,613) | (37,613) |
Pay | iShares U.S. Medical Devices ETF | 1-Month USD LIBOR - 1.77% | Monthly | USD | 1,341,606 | May 2020 | JPM | — | (139,114) | (139,114) |
Pay | PHLX Semiconductor Sector Index | 1-Month USD LIBOR - 0.20% | Monthly | USD | 896,794 | May 2020 | JPM | — | (77,363) | (77,363) |
Pay | PureFunds ISE Cyber Security ETF | 1-Month USD LIBOR - 1.79% | Monthly | USD | 3,072,165 | May 2020 | JPM | — | (317,723) | (317,723) |
Pay | PureFunds ISE Cyber Security ETF | 1-Month USD LIBOR - 1.44% | Monthly | USD | 91,121 | May 2020 | JPM | — | (9,370) | (9,370) |
Pay | SPDR S&P 500 ETF | 1-Month USD LIBOR - 0.33% | Monthly | USD | 268,303 | May 2020 | JPM | — | (27,377) | (27,377) |
Pay | SPDR S&P 500 ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 2,193,835 | May 2020 | JPM | — | (222,561) | (222,561) |
Pay | SPDR S&P Biotech ETF | 1-Month USD LIBOR - 0.90% | Monthly | USD | 18,933,637 | May 2020 | JPM | — | (3,034,474) | (3,034,474) |
Pay | SPDR S&P MidCap 400 ETF | 1-Month USD LIBOR - 0.33% | Monthly | USD | 1,847,169 | May 2020 | JPM | — | (267,842) | (267,842) |
32 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | SPDR S&P MidCap 400 ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 48,886 | May 2020 | JPM | — | $(7,056) | $(7,056) |
Pay | SPDR S&P Pharmaceuticals ETF | 1-Month USD LIBOR - 1.12% | Monthly | USD | 3,954,916 | May 2020 | JPM | — | (609,134) | (609,134) |
Pay | SPDR S&P Pharmaceuticals ETF | 1-Month USD LIBOR - 1.27% | Monthly | USD | 508,609 | May 2020 | JPM | — | (78,336) | (78,336) |
Pay | SPDR S&P Regional Banking ETF | 1-Month USD LIBOR - 0.92% | Monthly | USD | 3,933,828 | May 2020 | JPM | — | (754,190) | (754,190) |
Pay | SPDR S&P Regional Banking ETF | 1-Month USD LIBOR - 0.97% | Monthly | USD | 405,794 | May 2020 | JPM | — | (77,799) | (77,799) |
Pay | SPDR S&P Regional Banking ETF | 1-Month USD LIBOR - 0.81% | Monthly | USD | 847,726 | May 2020 | JPM | — | (162,525) | (162,525) |
Pay | SPDR S&P Regional Banking ETF | 1-Month USD LIBOR - 0.81% | Monthly | USD | 2,494,856 | May 2020 | JPM | — | (478,312) | (478,312) |
Pay | SPDR S&P Retail ETF | 1-Month USD LIBOR - 1.97% | Monthly | USD | 3,274,281 | May 2020 | JPM | — | (699,317) | (699,317) |
Pay | VanEck Vectors Semiconductor ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 21,926 | May 2020 | JPM | — | (1,865) | (1,865) |
Pay | VanEck Vectors Semiconductor ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 9,731 | May 2020 | JPM | — | (828) | (828) |
Pay | VanEck Vectors Semiconductor ETF | 1-Month USD LIBOR - 1.39% | Monthly | USD | 739 | May 2020 | JPM | — | (63) | (63) |
Pay | Vanguard FTSE Developed Markets ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 722,485 | May 2020 | JPM | — | (45,673) | (45,673) |
Pay | Vanguard FTSE Developed Markets ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 826,593 | May 2020 | JPM | — | (52,254) | (52,254) |
Pay | Vanguard FTSE Developed Markets ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 1,472,909 | May 2020 | JPM | — | (93,111) | (93,111) |
Pay | Vanguard FTSE Europe ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 8,571,714 | May 2020 | JPM | — | (536,993) | (536,993) |
Pay | Vanguard FTSE Europe ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 28,035 | May 2020 | JPM | — | (1,756) | (1,756) |
Pay | Vanguard FTSE Europe ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 3,423,027 | May 2020 | JPM | — | (214,443) | (214,443) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 33 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | Vanguard Small-Cap Growth ETF | 1-Month USD LIBOR - 1.00% | Monthly | USD | 4,228,855 | May 2020 | JPM | — | $(683,431) | $(683,431) |
Pay | Vanguard Small-Cap Growth ETF | 1-Month USD LIBOR - 0.69% | Monthly | USD | 108,482 | May 2020 | JPM | — | (17,468) | (17,468) |
Pay | Xtrackers Harvest CSI 300 China A-Shares ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 24,379 | May 2020 | JPM | — | (77) | (77) |
Pay | Xtrackers Harvest CSI 300 China A-Shares ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 2,012 | May 2020 | JPM | — | (6) | (6) |
Pay | Xtrackers Harvest CSI 300 China A-Shares ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 1,203,360 | May 2020 | JPM | — | (3,779) | (3,779) |
Pay | Xtrackers Harvest CSI 300 China A-Shares ETF | 1-Month USD LIBOR - 1.03% | Monthly | USD | 770,968 | May 2020 | JPM | — | (2,421) | (2,421) |
Pay | Xtrackers Harvest CSI 300 China A-Shares ETF | 1-Month USD LIBOR - 1.03% | Monthly | USD | 10,594 | May 2020 | JPM | — | (33) | (33) |
Pay | Xtrackers Harvest CSI 300 China A-Shares ETF | 1-Month USD LIBOR - 1.03% | Monthly | USD | 9,682 | May 2020 | JPM | — | (30) | (30) |
Pay | Xtrackers Harvest CSI 300 China A-Shares ETF | 1-Month USD LIBOR - 1.03% | Monthly | USD | 1,056,413 | May 2020 | JPM | — | (3,317) | (3,317) |
Pay | Xtrackers Harvest CSI 300 China A-Shares ETF | 1-Month USD LIBOR - 1.03% | Monthly | USD | 11,586 | May 2020 | JPM | — | (36) | (36) |
Pay | Consumer Discretionary Select Sector SPDR Fund | 1-Month USD LIBOR - 0.33% | Monthly | USD | 786,386 | May 2023 | JPM | — | (129,624) | (129,624) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.28% | Monthly | USD | 4,095,036 | May 2023 | JPM | — | (473,100) | (473,100) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.28% | Monthly | USD | 381,319 | May 2023 | JPM | — | (35,617) | (35,617) |
34 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | iShares Edge MSCI USA Momentum Factor ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 541,525 | May 2023 | JPM | — | $(52,856) | $(52,856) |
Pay | iShares Expanded Tech-Software Sector ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 5,384,093 | May 2023 | JPM | — | (707,002) | (707,002) |
Pay | iShares MSCI India ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 210,663 | May 2023 | JPM | — | (29,958) | (29,958) |
Pay | iShares North American Tech-Multimedia Networking ETF | 1-Month USD LIBOR - 2.01% | Monthly | USD | 1,164,930 | May 2023 | JPM | — | (73,762) | (73,762) |
Pay | iShares PHLX Semiconductor ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 932,141 | May 2023 | JPM | — | (65,369) | (65,369) |
Pay | iShares Russell 1000 Growth ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 827,308 | May 2023 | JPM | — | (93,641) | (93,641) |
Pay | iShares Russell 2000 Growth ETF | 1-Month USD LIBOR - 2.14% | Monthly | USD | 2,222,966 | May 2023 | JPM | — | (226,772) | (226,772) |
Pay | iShares U.S. Home Construction ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 20,531 | May 2023 | JPM | — | (5,021) | (5,021) |
Pay | iShares U.S. Home Construction ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 797,776 | May 2023 | JPM | — | (195,098) | (195,098) |
Pay | SPDR S&P Biotech ETF | 1-Month USD LIBOR - 1.52% | Monthly | USD | 10,050,000 | May 2023 | JPM | — | (1,618,598) | (1,618,598) |
Pay | SPDR S&P Regional Banking ETF | 1-Month USD LIBOR - 1.24% | Monthly | USD | 551,463 | May 2023 | JPM | — | (105,765) | (105,765) |
Pay | SPDR S&P Regional Banking ETF | 1-Month USD LIBOR - 1.73% | Monthly | USD | 164,533 | May 2023 | JPM | — | (17,348) | (17,348) |
Pay | VanEck Vectors Semiconductor ETF | 1-Month USD LIBOR - 1.37% | Monthly | USD | 1,198,294 | May 2023 | JPM | — | (36,703) | (36,703) |
Pay | Xtrackers Harvest CSI 300 China A-Shares ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 1,365,701 | May 2023 | JPM | — | (4,288) | (4,288) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 35 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | Xtrackers Harvest CSI 300 China A-Shares ETF | 1-Month USD LIBOR - 5.65% | Monthly | USD | 16,736 | May 2023 | JPM | — | $(55) | $(55) |
Pay | Xtrackers Harvest CSI 300 China A-Shares ETF | 1-Month USD LIBOR - 5.65% | Monthly | USD | 618,228 | May 2023 | JPM | — | (1,941) | (1,941) |
Pay | iShares Russell Mid-Cap Growth ETF | 1-Month USD LIBOR - 0.33% | Monthly | USD | 1,844,942 | May 2023 | JPM | — | (239,936) | (239,936) |
Pay | Consumer Discretionary Select Sector SPDR Fund | 1-Month USD LIBOR - 0.28% | Monthly | USD | 18,860 | May 2020 | MSI | — | (1,481) | (1,481) |
Pay | Financial Select Sector SPDR Fund | 1-Month USD LIBOR - 0.28% | Monthly | USD | 3,023,423 | May 2020 | MSI | — | (181,511) | (181,511) |
Pay | Financial Select Sector SPDR Fund | 1-Month USD LIBOR - 0.28% | Monthly | USD | 329,859 | May 2020 | MSI | — | (19,414) | (19,414) |
Pay | Health Care Select Sector SPDR Fund | 1-Month USD LIBOR - 0.45% | Monthly | USD | 2,435,790 | May 2020 | MSI | — | (86,272) | (86,272) |
Pay | Health Care Select Sector SPDR Fund | 1-Month USD LIBOR - 0.45% | Monthly | USD | 2,101,871 | May 2020 | MSI | — | (74,130) | (74,130) |
Pay | Health Care Select Sector SPDR Fund | 1-Month USD LIBOR - 0.28% | Monthly | USD | 6,151,699 | May 2020 | MSI | — | (217,883) | (217,883) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.45% | Monthly | USD | 1,975,134 | May 2020 | MSI | — | (91,646) | (91,646) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.45% | Monthly | USD | 217,179 | May 2020 | MSI | — | (9,987) | (9,987) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.45% | Monthly | USD | 211,734 | May 2020 | MSI | — | (9,737) | (9,737) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.45% | Monthly | USD | 282,312 | May 2020 | MSI | — | (12,983) | (12,983) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.28% | Monthly | USD | 154,769 | May 2020 | MSI | — | (7,119) | (7,119) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.28% | Monthly | USD | 110,998 | May 2020 | MSI | — | (5,104) | (5,104) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.28% | Monthly | USD | 413,624 | May 2020 | MSI | — | (23,560) | (23,560) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.28% | Monthly | USD | 420,326 | May 2020 | MSI | — | (19,503) | (19,503) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.28% | Monthly | USD | 1,050,920 | May 2020 | MSI | — | (48,511) | (48,511) |
36 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.28% | Monthly | USD | 3,350,880 | May 2020 | MSI | — | $(154,526) | $(154,526) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.28% | Monthly | USD | 1,771,150 | May 2020 | MSI | — | (81,633) | (81,633) |
Pay | Invesco S&P 500 High Beta ETF | 1-Month USD LIBOR - 2.87% | Monthly | USD | 2,444,620 | May 2020 | MSI | — | (309,304) | (309,304) |
Pay | Invesco S&P 500 High Beta ETF | 1-Month USD LIBOR - 1.03% | Monthly | USD | 57,911 | May 2020 | MSI | — | (7,336) | (7,336) |
Pay | iShares Core S&P Small-Cap ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 51,194 | May 2020 | MSI | — | (5,666) | (5,666) |
Pay | iShares Edge MSCI USA Momentum Factor ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 2,951,659 | May 2020 | MSI | — | (116,773) | (116,773) |
Pay | iShares Edge MSCI USA Momentum Factor ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 173,242 | May 2020 | MSI | — | (6,903) | (6,903) |
Pay | iShares Expanded Tech-Software Sector ETF | 1-Month USD LIBOR - 1.41% | Monthly | USD | 49,081 | May 2020 | MSI | — | (3,147) | (3,147) |
Pay | iShares Expanded Tech-Software Sector ETF | 1-Month USD LIBOR - 1.83% | Monthly | USD | 68,168 | May 2020 | MSI | — | (5,190) | (5,190) |
Pay | iShares Expanded Tech-Software Sector ETF | 1-Month USD LIBOR - 1.34% | Monthly | USD | 87,482 | May 2020 | MSI | — | (16,757) | (16,757) |
Pay | iShares MSCI Emerging Markets ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 37,785 | May 2020 | MSI | — | (1,422) | (1,422) |
Pay | iShares MSCI Emerging Markets ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 1,520,427 | May 2020 | MSI | — | (56,847) | (56,847) |
Pay | iShares MSCI Emerging Markets ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 3,669 | May 2020 | MSI | — | (138) | (138) |
Pay | iShares Nasdaq Biotechnology ETF | 1-Month USD LIBOR - 1.16% | Monthly | USD | 2,794,261 | May 2020 | MSI | — | (199,826) | (199,826) |
Pay | iShares Nasdaq Biotechnology ETF | 1-Month USD LIBOR - 1.16% | Monthly | USD | 965,896 | May 2020 | MSI | — | (69,159) | (69,159) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 37 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | iShares Nasdaq Biotechnology ETF | 1-Month USD LIBOR - 1.16% | Monthly | USD | 3,116,920 | May 2020 | MSI | — | $(223,175) | $(223,175) |
Pay | iShares Nasdaq Biotechnology ETF | 1-Month USD LIBOR - 1.16% | Monthly | USD | 316,065 | May 2020 | MSI | — | (22,631) | (22,631) |
Pay | iShares Nasdaq Biotechnology ETF | 1-Month USD LIBOR - 0.35% | Monthly | USD | 2,506,540 | May 2020 | MSI | — | (179,108) | (179,108) |
Pay | iShares Nasdaq Biotechnology ETF | 1-Month USD LIBOR - 1.10% | Monthly | USD | 2,808,028 | May 2020 | MSI | — | (200,651) | (200,651) |
Pay | iShares Nasdaq Biotechnology ETF | 1-Month USD LIBOR - 1.18% | Monthly | USD | 2,243,808 | May 2020 | MSI | — | (160,324) | (160,324) |
Pay | iShares Nasdaq Biotechnology ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 1,558,807 | May 2020 | MSI | — | (111,380) | (111,380) |
Pay | iShares Nasdaq Biotechnology ETF | 1-Month USD LIBOR - 1.05% | Monthly | USD | 2,139,687 | May 2020 | MSI | — | (153,069) | (153,069) |
Pay | iShares PHLX Semiconductor ETF | 1-Month USD LIBOR - 1.28% | Monthly | USD | 279,858 | May 2020 | MSI | — | (17,642) | (17,642) |
Pay | iShares PHLX Semiconductor ETF | 1-Month USD LIBOR - 1.28% | Monthly | USD | 471,269 | May 2020 | MSI | — | (28,951) | (28,951) |
Pay | iShares PHLX Semiconductor ETF | 1-Month USD LIBOR - 1.18% | Monthly | USD | 332,121 | May 2020 | MSI | — | (18,085) | (18,085) |
Pay | iShares Russell 1000 Growth ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 2,112,164 | May 2020 | MSI | — | (109,000) | (109,000) |
Pay | iShares Russell 1000 Growth ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 1,624,767 | May 2020 | MSI | — | (84,189) | (84,189) |
Pay | iShares Russell 1000 Growth ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 127,197 | May 2020 | MSI | — | (6,599) | (6,599) |
Pay | iShares Russell 1000 Growth ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 3,185,194 | May 2020 | MSI | — | (164,309) | (164,309) |
Pay | iShares Russell 2000 Growth ETF | 1-Month USD LIBOR - 1.73% | Monthly | USD | 75,928 | May 2020 | MSI | — | (8,007) | (8,007) |
Pay | iShares Russell 2000 Growth ETF | 1-Month USD LIBOR - 1.70% | Monthly | USD | 625,908 | May 2020 | MSI | — | (66,019) | (66,019) |
38 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | iShares Russell 2000 Growth ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 812,095 | May 2020 | MSI | — | $(86,616) | $(86,616) |
Pay | iShares Russell 2000 Growth ETF | 1-Month USD LIBOR - 1.29% | Monthly | USD | 2,523,767 | May 2020 | MSI | — | (266,547) | (266,547) |
Pay | iShares Russell 2000 Growth ETF | 1-Month USD LIBOR - 1.29% | Monthly | USD | 1,554,535 | May 2020 | MSI | — | (164,157) | (164,157) |
Pay | iShares Russell 2000 Growth ETF | 1-Month USD LIBOR - 1.28% | Monthly | USD | 1,299,682 | May 2020 | MSI | — | (137,211) | (137,211) |
Pay | iShares Russell 2000 Growth ETF | 1-Month USD LIBOR - 1.28% | Monthly | USD | 2,629,241 | May 2020 | MSI | — | (277,577) | (277,577) |
Pay | iShares Russell Mid-Cap Growth ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 744,556 | May 2020 | MSI | — | (54,613) | (54,613) |
Pay | iShares Russell Mid-Cap Growth ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 699,272 | May 2020 | MSI | — | (48,535) | (48,535) |
Pay | iShares Russell Mid-Cap Growth ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 318,174 | May 2020 | MSI | — | (22,087) | (22,087) |
Pay | iShares Russell Mid-Cap Growth ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 688,082 | May 2020 | MSI | — | (47,566) | (47,566) |
Pay | iShares Russell Mid-Cap Growth ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 98,467 | May 2020 | MSI | — | (6,848) | (6,848) |
Pay | iShares S&P North American Technology ETF | 1-Month USD LIBOR - 2.16% | Monthly | USD | 151,975 | May 2020 | MSI | $(83) | (9,952) | (10,035) |
Pay | iShares S&P North American Technology ETF | 1-Month USD LIBOR - 3.42% | Monthly | USD | 193,422 | May 2020 | MSI | — | (12,603) | (12,603) |
Pay | iShares S&P North American Technology ETF | 1-Month USD LIBOR - 3.50% | Monthly | USD | 240,565 | May 2020 | MSI | — | (15,674) | (15,674) |
Pay | iShares S&P North American Technology ETF | 1-Month USD LIBOR - 4.10% | Monthly | USD | 216,531 | May 2020 | MSI | — | (14,110) | (14,110) |
Pay | iShares S&P North American Technology ETF | 1-Month USD LIBOR - 4.10% | Monthly | USD | 63,550 | May 2020 | MSI | — | (4,141) | (4,141) |
Pay | iShares S&P North American Technology ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 110,230 | May 2020 | MSI | — | (7,183) | (7,183) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 39 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | iShares S&P North American Technology ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 54,306 | May 2020 | MSI | — | $(3,539) | $(3,539) |
Pay | iShares S&P North American Technology ETF | 1-Month USD LIBOR - 6.08% | Monthly | USD | 167,771 | May 2020 | MSI | — | (10,931) | (10,931) |
Pay | iShares S&P Small-Cap 600 Growth ETF | 1-Month USD LIBOR - 2.30% | Monthly | USD | 52,133 | May 2020 | MSI | — | (5,425) | (5,425) |
Pay | iShares U.S. Medical Devices ETF | 1-Month USD LIBOR - 3.66% | Monthly | USD | 74,448 | May 2020 | MSI | — | (2,735) | (2,735) |
Pay | iShares U.S. Medical Devices ETF | 1-Month USD LIBOR - 2.09% | Monthly | USD | 1,523,702 | May 2020 | MSI | — | (55,944) | (55,944) |
Pay | iShares U.S. Medical Devices ETF | 1-Month USD LIBOR - 2.04% | Monthly | USD | 2,798,997 | May 2020 | MSI | — | (102,814) | (102,814) |
Pay | iShares U.S. Telecommunications ETF | 1-Month USD LIBOR - 1.23% | Monthly | USD | 2,039,624 | May 2020 | MSI | — | (76,134) | (76,134) |
Pay | PHLX Semiconductor Sector Index | 1-Month USD LIBOR - 0.50% | Monthly | USD | 687,181 | May 2020 | MSI | — | (34,154) | (34,154) |
Pay | PureFunds ISE Cyber Security ETF | 1-Month USD LIBOR - 2.58% | Monthly | USD | 59,835 | May 2020 | MSI | — | (4,231) | (4,231) |
Pay | PureFunds ISE Cyber Security ETF | 1-Month USD LIBOR - 2.55% | Monthly | USD | 517,115 | May 2020 | MSI | — | (36,711) | (36,711) |
Pay | S&P 500 High Beta Total Return Index | 1-Month USD LIBOR - 0.51% | Monthly | USD | 72,445 | May 2020 | MSI | — | (7,979) | (7,979) |
Pay | SPDR S&P 500 ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 35,553 | May 2020 | MSI | — | (1,766) | (1,766) |
Pay | SPDR S&P Biotech ETF | 1-Month USD LIBOR - 2.05% | Monthly | USD | 10,743,664 | May 2020 | MSI | — | (1,123,654) | (1,123,654) |
Pay | SPDR S&P MidCap 400 ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 93,927 | May 2020 | MSI | — | (8,905) | (8,905) |
Pay | SPDR S&P Pharmaceuticals ETF | 1-Month USD LIBOR - 0.35% | Monthly | USD | 1,052,390 | May 2020 | MSI | — | (98,893) | (98,893) |
Pay | SPDR S&P Pharmaceuticals ETF | 1-Month USD LIBOR - 2.70% | Monthly | USD | 1,411,699 | May 2020 | MSI | — | (132,657) | (132,657) |
40 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | SPDR S&P Pharmaceuticals ETF | 1-Month USD LIBOR - 2.93% | Monthly | USD | 1,128,077 | May 2020 | MSI | — | $(106,000) | $(106,000) |
Pay | SPDR S&P Pharmaceuticals ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 783,667 | May 2020 | MSI | — | (73,637) | (73,637) |
Pay | VanEck Vectors Semiconductor ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 510 | May 2020 | MSI | — | (25) | (25) |
Pay | VanEck Vectors Semiconductor ETF | 1-Month USD LIBOR - 1.34% | Monthly | USD | 9,686 | May 2020 | MSI | — | (468) | (468) |
Pay | Vanguard FTSE Developed Markets ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 4,383 | May 2020 | MSI | — | (1,943) | (1,943) |
Pay | Vanguard FTSE Developed Markets ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 10,094,405 | May 2020 | MSI | — | (534,924) | (534,924) |
Pay | Vanguard FTSE Developed Markets ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 1,732,878 | May 2020 | MSI | — | (91,258) | (91,258) |
Pay | Vanguard FTSE Developed Markets ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 908,523 | May 2020 | MSI | — | (47,896) | (47,896) |
Pay | Vanguard FTSE Developed Markets ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 1,732,232 | May 2020 | MSI | — | (91,834) | (91,834) |
Pay | Vanguard FTSE Developed Markets ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 2,959,046 | May 2020 | MSI | — | (156,154) | (156,154) |
Pay | Vanguard FTSE Europe ETF | 1-Month USD LIBOR - 0.66% | Monthly | USD | 1,166,279 | May 2020 | MSI | — | (70,646) | (70,646) |
Pay | Vanguard FTSE Europe ETF | 1-Month USD LIBOR - 0.66% | Monthly | USD | 232,994 | May 2020 | MSI | — | (14,113) | (14,113) |
Pay | Vanguard FTSE Europe ETF | 1-Month USD LIBOR - 0.66% | Monthly | USD | 619,688 | May 2020 | MSI | — | (37,537) | (37,537) |
Pay | Vanguard FTSE Europe ETF | 1-Month USD LIBOR - 0.66% | Monthly | USD | 74,799 | May 2020 | MSI | — | (4,531) | (4,531) |
Pay | Vanguard FTSE Europe ETF | 1-Month USD LIBOR - 0.35% | Monthly | USD | 593,242 | May 2020 | MSI | — | (35,843) | (35,843) |
Pay | Vanguard FTSE Europe ETF | 1-Month USD LIBOR - 0.35% | Monthly | USD | 664,594 | May 2020 | MSI | — | (40,154) | (40,154) |
Pay | Vanguard FTSE Europe ETF | 1-Month USD LIBOR - 0.48% | Monthly | USD | 531,055 | May 2020 | MSI | — | (32,082) | (32,082) |
Pay | Vanguard FTSE Europe ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 368,933 | May 2020 | MSI | — | (22,288) | (22,288) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 41 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | Vanguard Small-Cap Growth ETF | 1-Month USD LIBOR - 0.83% | Monthly | USD | 82,343 | May 2020 | MSI | — | $(8,176) | $(8,176) |
Pay | Xtrackers Harvest CSI 300 China A-Shares ETF | 1-Month USD LIBOR - 0.80% | Monthly | USD | 22,993 | May 2020 | MSI | — | (343) | (343) |
Pay | Xtrackers Harvest CSI 300 China A-Shares ETF | 1-Month USD LIBOR - 0.80% | Monthly | USD | 23,709 | May 2020 | MSI | — | (355) | (355) |
Pay | Xtrackers Harvest CSI 300 China A-Shares ETF | 1-Month USD LIBOR - 0.80% | Monthly | USD | 919,971 | May 2020 | MSI | — | (14,009) | (14,009) |
Pay | Xtrackers Harvest CSI 300 China A-Shares ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 2,808 | May 2020 | MSI | — | (43) | (43) |
Pay | MSCI U.S. Momentum Index | Fixed -0.50% | Monthly | USD | 4,503,412 | Jan 2021 | MSI | — | 201 | 201 |
Pay | MSCI U.S. Momentum Index | Fixed -0.50% | Monthly | USD | 104,928 | Jan 2021 | MSI | — | 5 | 5 |
Pay | MS Growth vs Value Index (a) | Fixed 0.00% | Monthly | USD | 1,779,709 | Apr 2021 | MSI | — | 373 | 373 |
Pay | MS Growth vs Value Index (a) | Fixed 0.00% | Monthly | USD | 1,286,617 | Apr 2021 | MSI | — | 64,073 | 64,073 |
Pay | MS Growth vs Value Index (a) | Fixed 0.00% | Monthly | USD | 6,259,852 | Apr 2021 | MSI | — | 119,812 | 119,812 |
Pay | Consumer Discretionary Select Sector SPDR Fund | 1-Month USD LIBOR - 0.28% | Monthly | USD | 3,517,039 | May 2023 | MSI | — | (265,371) | (265,371) |
Pay | Euro STOXX 50 ETF | 1-Month EUR EURIBOR - 0.40% | Monthly | EUR | 2,156,698 | May 2023 | MSI | — | (100,766) | (100,766) |
Pay | Financial Select Sector SPDR Fund | 1-Month USD LIBOR - 0.65% | Monthly | USD | 586,022 | May 2023 | MSI | — | (30,711) | (30,711) |
Pay | Financial Select Sector SPDR Fund | 1-Month USD LIBOR - 0.65% | Monthly | USD | 124,249 | May 2023 | MSI | — | (6,517) | (6,517) |
Pay | Financial Select Sector SPDR Fund | 1-Month USD LIBOR - 0.28% | Monthly | USD | 351,808 | May 2023 | MSI | — | (91) | (91) |
42 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | Health Care Select Sector SPDR Fund | 1-Month USD LIBOR - 0.28% | Monthly | USD | 4,753,607 | May 2023 | MSI | — | $(151,621) | $(151,621) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.70% | Monthly | USD | 8,153,738 | May 2023 | MSI | — | (381,693) | (381,693) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.57% | Monthly | USD | 2,825,211 | May 2023 | MSI | — | (127,060) | (127,060) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.54% | Monthly | USD | 2,721,124 | May 2023 | MSI | — | (122,379) | (122,379) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.50% | Monthly | USD | 208,383 | May 2023 | MSI | — | (9,385) | (9,385) |
Pay | Invesco QQQ Trust Series 1 | 1-Month USD LIBOR - 0.39% | Monthly | USD | 2,101,177 | May 2023 | MSI | — | — | — |
Pay | iShares Edge MSCI USA Momentum Factor ETF | 1-Month USD LIBOR - 0.60% | Monthly | USD | 751,367 | May 2023 | MSI | — | (27,352) | (27,352) |
Pay | iShares Edge MSCI USA Momentum Factor ETF | 1-Month USD LIBOR - 0.58% | Monthly | USD | 1,064,006 | May 2023 | MSI | — | (38,733) | (38,733) |
Pay | iShares Expanded Tech-Software Sector ETF | 1-Month USD LIBOR - 1.50% | Monthly | USD | 1,097,951 | May 2023 | MSI | — | (71,315) | (71,315) |
Pay | iShares Expanded Tech-Software Sector ETF | 1-Month USD LIBOR - 1.34% | Monthly | USD | 192,460 | May 2023 | MSI | — | (11,244) | (11,244) |
Pay | iShares Expanded Tech-Software Sector ETF | 1-Month USD LIBOR - 1.33% | Monthly | USD | 806,876 | May 2023 | MSI | — | (48,253) | (48,253) |
Pay | iShares Expanded Tech-Software Sector ETF | 1-Month USD LIBOR - 1.31% | Monthly | USD | 1,522,408 | May 2023 | MSI | — | (91,071) | (91,071) |
Pay | iShares Expanded Tech-Software Sector ETF | 1-Month USD LIBOR - 1.30% | Monthly | USD | 1,113,403 | May 2023 | MSI | — | (66,536) | (66,536) |
Pay | iShares MSCI ACWI ETF | 1-Month USD LIBOR - 2.70% | Monthly | USD | 5,630,281 | May 2023 | MSI | — | (116,159) | (116,159) |
Pay | iShares MSCI EAFE ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 2,035,125 | May 2023 | MSI | — | (84,096) | (84,096) |
Pay | iShares MSCI Emerging Markets ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 845,416 | May 2023 | MSI | — | (27,777) | (27,777) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 43 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | iShares MSCI India ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 330,722 | May 2023 | MSI | — | — | — |
Pay | iShares PHLX Semiconductor ETF | 1-Month USD LIBOR - 1.49% | Monthly | USD | 1,615,044 | May 2023 | MSI | — | $(84,059) | $(84,059) |
Pay | iShares PHLX Semiconductor ETF | 1-Month USD LIBOR - 1.70% | Monthly | USD | 1,598,516 | May 2023 | MSI | — | (83,373) | (83,373) |
Pay | iShares Russell 1000 Growth ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 1,623,944 | May 2023 | MSI | — | (84,946) | (84,946) |
Pay | iShares Russell 2000 Growth ETF | 1-Month USD LIBOR - 1.80% | Monthly | USD | 1,546,117 | May 2023 | MSI | — | (164,401) | (164,401) |
Pay | iShares Russell 2000 Growth ETF | 1-Month USD LIBOR - 1.95% | Monthly | USD | 1,577,809 | May 2023 | MSI | — | (164,719) | (164,719) |
Pay | iShares Russell 2000 Growth ETF | 1-Month USD LIBOR - 1.39% | Monthly | USD | 99,531 | May 2023 | MSI | — | (10,391) | (10,391) |
Pay | iShares Russell 2000 Growth ETF | 1-Month USD LIBOR - 1.65% | Monthly | USD | 1,475,967 | May 2023 | MSI | — | (154,223) | (154,223) |
Pay | iShares Russell 2000 Growth ETF | 1-Month USD LIBOR - 1.24% | Monthly | USD | 2,229,790 | May 2023 | MSI | — | — | — |
Pay | iShares Russell Mid-Cap Growth ETF | 1-Month USD LIBOR - 0.77% | Monthly | USD | 3,089,196 | May 2023 | MSI | — | (211,240) | (211,240) |
Pay | iShares Russell Mid-Cap Growth ETF | 1-Month USD LIBOR - 0.75% | Monthly | USD | 3,216,755 | May 2023 | MSI | — | (219,962) | (219,962) |
Pay | iShares Russell Mid-Cap Growth ETF | 1-Month USD LIBOR - 0.69% | Monthly | USD | 109,524 | May 2023 | MSI | — | (7,489) | (7,489) |
Pay | iShares Russell Mid-Cap Growth ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 2,983,561 | May 2023 | MSI | — | (221,323) | (221,323) |
Pay | iShares S&P North American Technology ETF | 1-Month USD LIBOR - 4.85% | Monthly | USD | 886,461 | May 2023 | MSI | — | (59,533) | (59,533) |
Pay | iShares S&P North American Technology ETF | 1-Month USD LIBOR - 4.93% | Monthly | USD | 1,512,946 | May 2023 | MSI | — | (97,174) | (97,174) |
Pay | iShares STOXX 600 Basic Resources UCITS ETF | 1-Month EUR EURIBOR - 0.40% | Monthly | EUR | 1,387,451 | May 2023 | MSI | — | (95,932) | (95,932) |
44 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | iShares STOXX 600 Basic Resources UCITS ETF | 1-Month EUR EURIBOR - 0.40% | Monthly | EUR | 824,918 | May 2023 | MSI | — | $(57,037) | $(57,037) |
Pay | iShares STOXX 600 Basic Resources UCITS ETF | 1-Month EUR EURIBOR - 0.50% | Monthly | EUR | 478,544 | May 2023 | MSI | — | (33,088) | (33,088) |
Pay | iShares STOXX Europe Oil & Gas UCITS ETF | 1-Month EUR EURIBOR - 0.40% | Monthly | EUR | 2,217,808 | May 2023 | MSI | — | (88,726) | (88,726) |
Pay | iShares U.S. Home Construction ETF | 1-Month USD LIBOR - 1.30% | Monthly | USD | 104,210 | May 2023 | MSI | — | (19,939) | (19,939) |
Pay | iShares U.S. Home Construction ETF | 1-Month USD LIBOR - 1.25% | Monthly | USD | 740,836 | May 2023 | MSI | — | (124,616) | (124,616) |
Pay | iShares U.S. Home Construction ETF | 1-Month USD LIBOR - 1.24% | Monthly | USD | 556,109 | May 2023 | MSI | — | — | — |
Pay | iShares U.S. Medical Devices ETF | 1-Month USD LIBOR - 1.64% | Monthly | USD | 988,173 | May 2023 | MSI | — | (36,625) | (36,625) |
Pay | PHLX Semiconductor Sector Index | 1-Month USD LIBOR - 0.30% | Monthly | USD | 2,175,248 | May 2023 | MSI | — | (107,885) | (107,885) |
Pay | PHLX Semiconductor Sector Index | 1-Month USD LIBOR - 0.86% | Monthly | USD | 833,845 | May 2023 | MSI | — | (41,916) | (41,916) |
Pay | PHLX Semiconductor Sector Index | 1-Month USD LIBOR - 0.86% | Monthly | USD | 746,506 | May 2023 | MSI | — | (37,526) | (37,526) |
Pay | SPDR S&P 500 ETF | 1-Month USD LIBOR - 0.54% | Monthly | USD | 2,227,913 | May 2023 | MSI | — | (101,377) | (101,377) |
Pay | SPDR S&P Regional Banking ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 232,701 | May 2023 | MSI | — | (53,199) | (53,199) |
Pay | SPDR S&P Regional Banking ETF | 1-Month USD LIBOR - 1.59% | Monthly | USD | 770,955 | May 2023 | MSI | — | — | — |
Pay | SPDR S&P Retail ETF | 1-Month USD LIBOR - 2.62% | Monthly | USD | 1,475,253 | May 2023 | MSI | — | (160,611) | (160,611) |
Pay | SPDR S&P Retail ETF | 1-Month USD LIBOR - 2.55% | Monthly | USD | 330,006 | May 2023 | MSI | — | (35,956) | (35,956) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 45 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | VanEck Oil Services ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 654,650 | May 2023 | MSI | — | $(167,333) | $(167,333) |
Pay | VanEck Vectors Semiconductor ETF | 1-Month USD LIBOR - 1.60% | Monthly | USD | 2,746,675 | May 2023 | MSI | — | (134,538) | (134,538) |
Pay | VanEck Vectors Semiconductor ETF | 1-Month USD LIBOR - 1.35% | Monthly | USD | 2,150,082 | May 2023 | MSI | — | (105,316) | (105,316) |
Pay | VanEck Vectors Semiconductor ETF | 1-Month USD LIBOR - 1.17% | Monthly | USD | 2,149,954 | May 2023 | MSI | — | (105,310) | (105,310) |
Pay | VanEck Vectors Semiconductor ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 10,451 | May 2023 | MSI | — | (512) | (512) |
Pay | VanEck Vectors Semiconductor ETF | 1-Month USD LIBOR - 1.35% | Monthly | USD | 322,958 | May 2023 | MSI | — | (15,849) | (15,849) |
Pay | VanEck Vectors Semiconductor ETF | 1-Month USD LIBOR - 1.35% | Monthly | USD | 9,431 | May 2023 | MSI | — | (463) | (463) |
Pay | VanEck Vectors Semiconductor ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 7,225 | May 2023 | MSI | — | 4 | 4 |
Pay | VanEck Vectors Semiconductor ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 12,045 | May 2023 | MSI | — | 277 | 277 |
Pay | Vanguard FTSE Developed Markets ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 2,187,361 | May 2023 | MSI | — | (115,560) | (115,560) |
Pay | Vanguard FTSE Developed Markets ETF | 1-Month USD LIBOR - 0.80% | Monthly | USD | 2,689,143 | May 2023 | MSI | — | (133,866) | (133,866) |
Pay | Vanguard FTSE Developed Markets ETF | 1-Month USD LIBOR - 0.80% | Monthly | USD | 1,889,254 | May 2023 | MSI | — | (94,126) | (94,126) |
Pay | Vanguard FTSE Developed Markets ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 2,371,966 | May 2023 | MSI | — | (9,738) | (9,738) |
Pay | Vanguard FTSE Europe ETF | 1-Month USD LIBOR - 0.28% | Monthly | USD | 7,361,413 | May 2023 | MSI | — | (407,755) | (407,755) |
Pay | Xtrackers Harvest CSI 300 China A-Shares ETF | 1-Month USD LIBOR - 5.60% | Monthly | USD | 8,901 | May 2023 | MSI | — | (142) | (142) |
Receive | Alkermes PLC | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,240,916 | May 2020 | GSI | — | (217,006) | (217,006) |
46 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Allscripts Healthcare Solutions, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 197,137 | May 2020 | GSI | — | $(3,629) | $(3,629) |
Receive | Amazon.com, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 2,879,513 | May 2020 | GSI | — | 95,944 | 95,944 |
Receive | Amazon.com, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,139,358 | May 2020 | GSI | — | 37,944 | 37,944 |
Receive | Amicus Therapeutics, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,432,999 | May 2020 | GSI | — | (13,628) | (13,628) |
Receive | Apellis Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,628,305 | May 2020 | GSI | — | (67,869) | (67,869) |
Receive | Ares Management Corp., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 379,819 | May 2020 | GSI | — | 28,527 | 28,527 |
Receive | Ares Management Corp., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 184,148 | May 2020 | GSI | — | 13,831 | 13,831 |
Receive | Ares Management Corp., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 102,666 | May 2020 | GSI | — | 7,711 | 7,711 |
Receive | Ares Management Corp., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 120,345 | May 2020 | GSI | — | 9,038 | 9,038 |
Receive | Ares Management Corp., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 102,634 | May 2020 | GSI | — | 7,709 | 7,709 |
Receive | Ares Management Corp., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 205,300 | May 2020 | GSI | — | 15,418 | 15,418 |
Receive | Assurant, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 131,866 | May 2020 | GSI | — | 4,891 | 4,891 |
Receive | AstraZeneca PLC | 1-Month GBP LIBOR + 0.20% | Monthly | GBP | 242,138 | May 2020 | GSI | — | 13,052 | 13,052 |
Receive | AstraZeneca PLC | 1-Month GBP LIBOR + 0.20% | Monthly | GBP | 283,875 | May 2020 | GSI | — | 15,302 | 15,302 |
Receive | AstraZeneca PLC | 1-Month GBP LIBOR + 0.20% | Monthly | GBP | 526,744 | May 2020 | GSI | — | 28,393 | 28,393 |
Receive | AstraZeneca PLC | 1-Month GBP LIBOR + 0.20% | Monthly | GBP | 251,070 | May 2020 | GSI | — | 13,533 | 13,533 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 47 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Athene Holding, Ltd., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 17,022 | May 2020 | GSI | — | $2,036 | $2,036 |
Receive | Bank of America Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 224,438 | May 2020 | GSI | — | 17,193 | 17,193 |
Receive | Bank of America Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 473,693 | May 2020 | GSI | — | 36,312 | 36,312 |
Receive | Bank of America Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 226,350 | May 2020 | GSI | — | 17,346 | 17,346 |
Receive | Boston Scientific Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 3,647,557 | May 2020 | GSI | — | 21,493 | 21,493 |
Receive | Bristol-Myers Squibb Company | 1-Month USD LIBOR + 0.20% | Monthly | USD | 4,940,136 | May 2020 | GSI | — | (33,792) | (33,792) |
Receive | BRP, Inc. | 1-Month CAD CDOR + 0.20% | Monthly | CAD | 38,772 | May 2020 | GSI | — | 16,954 | 16,954 |
Receive | BRP, Inc. | 1-Month CAD CDOR + 0.20% | Monthly | CAD | 128,723 | May 2020 | GSI | — | 56,264 | 56,264 |
Receive | Cavco Industries, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 272,737 | May 2020 | GSI | — | 76,763 | 76,763 |
Receive | Cavco Industries, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 67,581 | May 2020 | GSI | — | 19,021 | 19,021 |
Receive | Cavco Industries, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 36,566 | May 2020 | GSI | — | 10,292 | 10,292 |
Receive | Cavco Industries, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 71,081 | May 2020 | GSI | — | 20,006 | 20,006 |
Receive | Cavco Industries, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 65,047 | May 2020 | GSI | — | 18,308 | 18,308 |
Receive | Cavco Industries, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 256,807 | May 2020 | GSI | — | 72,280 | 72,280 |
Receive | Cavco Industries, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 19,671 | May 2020 | GSI | — | 5,536 | 5,536 |
Receive | Cellnex Telecom SA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 1,089,083 | May 2020 | GSI | — | (25,414) | (25,414) |
48 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Cerved Group SpA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 233,123 | May 2020 | GSI | — | $14,325 | $14,325 |
Receive | Cerved Group SpA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 146,007 | May 2020 | GSI | — | 8,972 | 8,972 |
Receive | Cerved Group SpA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 62,499 | May 2020 | GSI | — | 3,841 | 3,841 |
Receive | Chegg, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 554,385 | May 2020 | GSI | — | 96,199 | 96,199 |
Receive | Chegg, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 242,958 | May 2020 | GSI | — | 42,159 | 42,159 |
Receive | Chugai Pharmaceutical Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 10,608,000 | May 2020 | GSI | — | (3,355) | (3,355) |
Receive | Chugai Pharmaceutical Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 5,449,860 | May 2020 | GSI | — | (1,724) | (1,724) |
Receive | Chugai Pharmaceutical Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 13,260,000 | May 2020 | GSI | — | (4,195) | (4,195) |
Receive | Chugai Pharmaceutical Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 18,564,000 | May 2020 | GSI | — | (5,872) | (5,872) |
Receive | CIMB Group Holdings BHD | 1-Month USD LIBOR + 1.20% | Monthly | USD | 281,242 | May 2020 | GSI | — | (10,449) | (10,449) |
Receive | CTT-Correios de Portugal SA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 50,373 | May 2020 | GSI | — | (3,712) | (3,712) |
Receive | Daiichi Sankyo Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 11,973,752 | May 2020 | GSI | — | 1,677 | 1,677 |
Receive | Daiichi Sankyo Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 196,527,315 | May 2020 | GSI | — | 10,929 | 10,929 |
Receive | Danaher Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 900,074 | May 2020 | GSI | — | 44,845 | 44,845 |
Receive | ECN Capital Corp. | 1-Month CAD CDOR + 0.20% | Monthly | CAD | 696,635 | May 2020 | GSI | — | 39,887 | 39,887 |
Receive | Eisai Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 17,415,200 | May 2020 | GSI | — | (6,273) | (6,273) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 49 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Eisai Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 8,145,564 | May 2020 | GSI | — | $(2,934) | $(2,934) |
Receive | Eisai Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 19,790,000 | May 2020 | GSI | — | (7,131) | (7,131) |
Receive | Eisai Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 7,916,000 | May 2020 | GSI | — | (2,852) | (2,852) |
Receive | Eisai Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 8,707,600 | May 2020 | GSI | — | (3,137) | (3,137) |
Receive | Eisai Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 29,882,900 | May 2020 | GSI | — | (10,767) | (10,767) |
Receive | Encompass Health Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 316,153 | May 2020 | GSI | — | (13,730) | (13,730) |
Receive | Encompass Health Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 557,213 | May 2020 | GSI | — | (24,199) | (24,199) |
Receive | Erste Group Bank AG | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 148,835 | May 2020 | GSI | — | 28,342 | 28,342 |
Receive | FirstRand, Ltd. | 1-Month ZAR JIBAR + 0.75% | Monthly | ZAR | 9,838,632 | May 2020 | GSI | — | 71,122 | 71,122 |
Receive | Flex, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 476,740 | May 2020 | GSI | — | 120,090 | 120,090 |
Receive | Genpact, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 2,944,529 | May 2020 | GSI | — | 389,273 | 389,273 |
Receive | Genus PLC | 1-Month GBP LIBOR + 0.20% | Monthly | GBP | 36,975 | May 2020 | GSI | — | (2,922) | (2,922) |
Receive | Genus PLC | 1-Month GBP LIBOR + 0.20% | Monthly | GBP | 43,326 | May 2020 | GSI | — | (3,424) | (3,424) |
Receive | Genus PLC | 1-Month GBP LIBOR + 0.20% | Monthly | GBP | 63,510 | May 2020 | GSI | — | (5,019) | (5,019) |
Receive | Global Blood Therapeutics, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,346,957 | May 2020 | GSI | — | 64,763 | 64,763 |
Receive | Global Payments, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 3,919,265 | May 2020 | GSI | — | 472,812 | 472,812 |
50 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Global Payments, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 4,406,135 | May 2020 | GSI | — | $531,119 | $531,119 |
Receive | Guidewire Software, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,614,154 | May 2020 | GSI | — | 17,924 | 17,924 |
Receive | Hikma Pharmaceuticals PLC | 1-Month GBP LIBOR + 0.20% | Monthly | GBP | 25,908 | May 2020 | GSI | — | 1,341 | 1,341 |
Receive | Hikma Pharmaceuticals PLC | 1-Month GBP LIBOR + 0.20% | Monthly | GBP | 30,357 | May 2020 | GSI | — | 1,572 | 1,572 |
Receive | Hikma Pharmaceuticals PLC | 1-Month GBP LIBOR + 0.20% | Monthly | GBP | 44,510 | May 2020 | GSI | — | 2,304 | 2,304 |
Receive | Hologic, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 687,559 | May 2020 | GSI | — | 108,878 | 108,878 |
Receive | ITT, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 148,892 | May 2020 | GSI | — | 13,789 | 13,789 |
Receive | ITT, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 288,500 | May 2020 | GSI | — | 25,323 | 25,323 |
Receive | ITT, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 209,266 | May 2020 | GSI | — | 18,368 | 18,368 |
Receive | ITT, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 188,607 | May 2020 | GSI | — | 16,555 | 16,555 |
Receive | Madrigal Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 258,221 | May 2020 | GSI | — | (12,438) | (12,438) |
Receive | Maeda Corp. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 33,506,800 | May 2020 | GSI | — | 38,140 | 38,140 |
Receive | Mylan NV | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,187,264 | May 2020 | GSI | — | 67,846 | 67,846 |
Receive | Netflix, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 599,361 | May 2020 | GSI | — | (24,338) | (24,338) |
Receive | Nexon Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 27,615,000 | May 2020 | GSI | — | (13,561) | (13,561) |
Receive | Novartis AG | 1-Month CHF LIBOR + 0.20% | Monthly | CHF | 50,691 | May 2020 | GSI | — | (3,258) | (3,258) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 51 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Novartis AG | 1-Month CHF LIBOR + 0.20% | Monthly | CHF | 59,373 | May 2020 | GSI | — | $(3,815) | $(3,815) |
Receive | Novartis AG | 1-Month CHF LIBOR + 0.20% | Monthly | CHF | 87,086 | May 2020 | GSI | — | (5,596) | (5,596) |
Receive | Novartis AG | 1-Month CHF LIBOR + 0.20% | Monthly | CHF | 910,852 | May 2020 | GSI | — | (58,534) | (58,534) |
Receive | Omnicell, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,280,123 | May 2020 | GSI | — | 6,347 | 6,347 |
Receive | Ono Pharmaceutical Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 10,350,450 | May 2020 | GSI | — | 3,400 | 3,400 |
Receive | Ono Pharmaceutical Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 4,682,948 | May 2020 | GSI | — | 1,538 | 1,538 |
Receive | Ono Pharmaceutical Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 12,370,050 | May 2020 | GSI | — | 4,062 | 4,062 |
Receive | Ono Pharmaceutical Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 18,176,400 | May 2020 | GSI | — | 5,969 | 5,969 |
Receive | Portola Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 613,065 | May 2020 | GSI | — | 16,733 | 16,733 |
Receive | Portola Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 26,079 | May 2020 | GSI | — | 712 | 712 |
Receive | Prudential PLC | 1-Month GBP LIBOR + 0.20% | Monthly | GBP | 122,716 | May 2020 | GSI | — | 18,745 | 18,745 |
Receive | Radius Health, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 186,042 | May 2020 | GSI | — | 2,107 | 2,107 |
Receive | Rexnord Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 383,470 | May 2020 | GSI | — | 40,306 | 40,306 |
Receive | Rexnord Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 78,031 | May 2020 | GSI | — | 8,203 | 8,203 |
Receive | Rexnord Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 830,368 | May 2020 | GSI | — | 87,300 | 87,300 |
Receive | Rexnord Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 317,503 | May 2020 | GSI | — | 33,382 | 33,382 |
52 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Rexnord Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 159,467 | May 2020 | GSI | — | $16,766 | $16,766 |
Receive | Rexnord Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 255,211 | May 2020 | GSI | — | 26,825 | 26,825 |
Receive | Rexnord Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 369,631 | May 2020 | GSI | — | 38,852 | 38,852 |
Receive | Signature Bank | 1-Month USD LIBOR + 0.20% | Monthly | USD | 286,343 | May 2020 | GSI | — | 57,946 | 57,946 |
Receive | Signature Bank | 1-Month USD LIBOR + 0.20% | Monthly | USD | 228,682 | May 2020 | GSI | — | 46,277 | 46,277 |
Receive | Smith & Nephew PLC | 1-Month GBP LIBOR + 0.20% | Monthly | GBP | 630,148 | May 2020 | GSI | — | 1,724 | 1,724 |
Receive | Smith & Nephew PLC | 1-Month GBP LIBOR + 0.20% | Monthly | GBP | 87,914 | May 2020 | GSI | — | 240 | 240 |
Receive | Smith & Nephew PLC | 1-Month GBP LIBOR + 0.20% | Monthly | GBP | 531,239 | May 2020 | GSI | — | 1,451 | 1,451 |
Receive | Smith & Nephew PLC | 1-Month GBP LIBOR + 0.20% | Monthly | GBP | 578,059 | May 2020 | GSI | — | 1,620 | 1,620 |
Receive | Spotify Technology SA | 1-Month USD LIBOR + 0.20% | Monthly | USD | 123,871 | May 2020 | GSI | — | 5,988 | 5,988 |
Receive | Square, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 652,487 | May 2020 | GSI | — | 43,405 | 43,405 |
Receive | Square, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 427,481 | May 2020 | GSI | — | 28,437 | 28,437 |
Receive | Sterling Bancorp | 1-Month USD LIBOR + 0.20% | Monthly | USD | 262,705 | May 2020 | GSI | — | 36,865 | 36,865 |
Receive | Sterling Bancorp | 1-Month USD LIBOR + 0.20% | Monthly | USD | 202,677 | May 2020 | GSI | — | 28,441 | 28,441 |
Receive | Sterling Bancorp | 1-Month USD LIBOR + 0.20% | Monthly | USD | 133,374 | May 2020 | GSI | — | 18,716 | 18,716 |
Receive | Synovus Financial Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 111,481 | May 2020 | GSI | — | 25,454 | 25,454 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 53 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Synovus Financial Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 187,787 | May 2020 | GSI | — | $42,876 | $42,876 |
Receive | Synovus Financial Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 154,680 | May 2020 | GSI | — | 35,309 | 35,309 |
Receive | Synovus Financial Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 82,855 | May 2020 | GSI | — | 18,914 | 18,914 |
Receive | Takeda Pharmaceutical Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 1,462,400 | May 2020 | GSI | — | 1,491 | 1,491 |
Receive | Takeda Pharmaceutical Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 749,480 | May 2020 | GSI | — | 764 | 764 |
Receive | Takeda Pharmaceutical Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 1,828,000 | May 2020 | GSI | — | 1,863 | 1,863 |
Receive | Takeda Pharmaceutical Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 2,924,800 | May 2020 | GSI | — | 2,982 | 2,982 |
Receive | TCS Group Holding PLC | 1-Month USD LIBOR + 0.20% | Monthly | USD | 31,909 | May 2020 | GSI | — | 5,864 | 5,864 |
Receive | TCS Group Holding PLC | 1-Month USD LIBOR + 0.20% | Monthly | USD | 3,581 | May 2020 | GSI | — | 658 | 658 |
Receive | Third Point Reinsurance, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 169,359 | May 2020 | GSI | — | (9,100) | (9,100) |
Receive | Third Point Reinsurance, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 82,530 | May 2020 | GSI | — | (4,434) | (4,434) |
Receive | Third Point Reinsurance, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 41,257 | May 2020 | GSI | — | (2,216) | (2,216) |
Receive | Third Point Reinsurance, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 45,557 | May 2020 | GSI | — | (2,446) | (2,446) |
Receive | Tourmaline Oil Corp. | 1-Month CAD CDOR + 0.20% | Monthly | CAD | 417,628 | May 2020 | GSI | — | 18,706 | 18,706 |
Receive | TriNet Group, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 2,113,461 | May 2020 | GSI | — | 164,588 | 164,588 |
Receive | TriNet Group, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,085,151 | May 2020 | GSI | — | 85,009 | 85,009 |
54 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | UCB SA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 49,366 | May 2020 | GSI | — | $(1,091) | $(1,091) |
Receive | UCB SA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 57,806 | May 2020 | GSI | — | (1,278) | (1,278) |
Receive | UCB SA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 84,834 | May 2020 | GSI | — | (1,875) | (1,875) |
Receive | UCB SA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 167,024 | May 2020 | GSI | — | (3,692) | (3,692) |
Receive | UCB SA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 613,105 | May 2020 | GSI | — | (13,554) | (13,554) |
Receive | UroGen Pharma, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 25,956 | May 2020 | GSI | — | (1,222) | (1,222) |
Receive | UroGen Pharma, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 75,166 | May 2020 | GSI | — | (3,534) | (3,534) |
Receive | UroGen Pharma, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 86,629 | May 2020 | GSI | — | (4,073) | (4,073) |
Receive | UroGen Pharma, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 57,621 | May 2020 | GSI | — | (2,712) | (2,712) |
Receive | UroGen Pharma, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 77,403 | May 2020 | GSI | — | (3,643) | (3,643) |
Receive | UroGen Pharma, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 11,044 | May 2020 | GSI | — | (520) | (520) |
Receive | UroGen Pharma, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 17,964 | May 2020 | GSI | — | (845) | (845) |
Receive | UroGen Pharma, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 16,100 | May 2020 | GSI | — | (758) | (758) |
Receive | UroGen Pharma, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 19,199 | May 2020 | GSI | — | (904) | (904) |
Receive | UroGen Pharma, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 17,498 | May 2020 | GSI | — | (824) | (824) |
Receive | UroGen Pharma, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 20,388 | May 2020 | GSI | — | (960) | (960) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 55 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Western Alliance Bancorp | 1-Month USD LIBOR + 0.20% | Monthly | USD | 270,754 | May 2020 | GSI | — | $33,044 | $33,044 |
Receive | Worldline SA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 1,489,548 | May 2020 | GSI | — | 49,941 | 49,941 |
Receive | Zions Bancorp NA | 1-Month USD LIBOR + 0.20% | Monthly | USD | 145,618 | May 2020 | GSI | — | 11,605 | 11,605 |
Receive | AIA Group, Ltd. | 1-Month HKD HIBOR + 0.20% | Monthly | HKD | 2,837,570 | May 2023 | GSI | — | — | — |
Receive | Archer-Daniels-Midland Company | 1-Month USD LIBOR + 0.20% | Monthly | USD | 2,107,030 | May 2023 | GSI | — | 45,794 | 45,794 |
Receive | BAWAG Group AG | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 624,766 | May 2023 | GSI | — | 59,157 | 59,157 |
Receive | Cactus, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 67,000 | May 2023 | GSI | — | 16,118 | 16,118 |
Receive | Cactus, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 275,070 | May 2023 | GSI | — | 59,754 | 59,754 |
Receive | Carter's, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 291,378 | May 2023 | GSI | — | 15,025 | 15,025 |
Receive | Carter's, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 323,583 | May 2023 | GSI | — | (2,818) | (2,818) |
Receive | Cavco Industries, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 109,296 | May 2023 | GSI | — | 7,329 | 7,329 |
Receive | Cavco Industries, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 252,936 | May 2023 | GSI | — | (347) | (347) |
Receive | Cerved Group SpA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 301,465 | May 2023 | GSI | — | 18,525 | 18,525 |
Receive | Cerved Group SpA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 253,844 | May 2023 | GSI | — | 15,599 | 15,599 |
Receive | Cerved Group SpA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 558,640 | May 2023 | GSI | — | 34,328 | 34,328 |
Receive | Cerved Group SpA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 666,005 | May 2023 | GSI | — | 40,926 | 40,926 |
56 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Cerved Group SpA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 77,105 | May 2023 | GSI | — | $474 | $474 |
Receive | Cerved Group SpA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 102,112 | May 2023 | GSI | — | (6,545) | (6,545) |
Receive | Cerved Group SpA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 150,055 | May 2023 | GSI | — | (12,797) | (12,797) |
Receive | China Mobile, Ltd. | 1-Month HKD HIBOR + 0.20% | Monthly | HKD | 5,063,000 | May 2023 | GSI | — | 15,217 | 15,217 |
Receive | Citizens Financial Group, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,557,144 | May 2023 | GSI | — | (46,696) | (46,696) |
Receive | Clean Harbors, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 339,326 | May 2023 | GSI | — | (12,079) | (12,079) |
Receive | Clean Harbors, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 655,975 | May 2023 | GSI | — | (44,213) | (44,213) |
Receive | CStone Pharmaceuticals | 1-Month HKD HIBOR + 0.20% | Monthly | HKD | 235,586 | May 2023 | GSI | — | — | — |
Receive | CStone Pharmaceuticals | 1-Month HKD HIBOR + 0.20% | Monthly | HKD | 102,652 | May 2023 | GSI | — | — | — |
Receive | CStone Pharmaceuticals | 1-Month HKD HIBOR + 0.20% | Monthly | HKD | 2,254,119 | May 2023 | GSI | — | — | — |
Receive | Cytokinetics, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 406,922 | May 2023 | GSI | — | (30,320) | (30,320) |
Receive | Cytokinetics, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 456,415 | May 2023 | GSI | — | (22,653) | (22,653) |
Receive | Five Below, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,457,155 | May 2023 | GSI | — | 113,784 | 113,784 |
Receive | Five Below, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 295,561 | May 2023 | GSI | — | 23,079 | 23,079 |
Receive | FleetCor Technologies, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 463,806 | May 2023 | GSI | — | 58,605 | 58,605 |
Receive | Galp Energia SGPS SA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 490,541 | May 2023 | GSI | — | 71,631 | 71,631 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 57 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Guangzhou Automobile Group Company, Ltd. | 1-Month HKD HIBOR + 0.20% | Monthly | HKD | 31,739 | May 2023 | GSI | — | — | — |
Receive | Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,256,608 | May 2023 | GSI | — | $57,976 | $57,976 |
Receive | Home Depot, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 448,983 | May 2023 | GSI | — | 29,913 | 29,913 |
Receive | Intact Financial Corp. | 1-Month CAD CDOR + 0.20% | Monthly | CAD | 522,784 | May 2023 | GSI | — | (9,874) | (9,874) |
Receive | ITT, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 625,486 | May 2023 | GSI | — | 5,023 | 5,023 |
Receive | Keyence Corp. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 62,798,000 | May 2023 | GSI | — | 28,970 | 28,970 |
Receive | Lennar Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 306,937 | May 2023 | GSI | — | (13,276) | (13,276) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.20% | Monthly | HKD | 24,143 | May 2023 | GSI | — | (313) | (313) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.20% | Monthly | HKD | 87,955 | May 2023 | GSI | — | (1,139) | (1,139) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.20% | Monthly | HKD | 124,175 | May 2023 | GSI | — | (1,609) | (1,609) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.20% | Monthly | HKD | 94,856 | May 2023 | GSI | — | (1,229) | (1,229) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.20% | Monthly | HKD | 105,203 | May 2023 | GSI | — | (1,363) | (1,363) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.20% | Monthly | HKD | 50,014 | May 2023 | GSI | — | (648) | (648) |
Receive | Medical Properties Trust, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 389,405 | May 2023 | GSI | — | 13,767 | 13,767 |
Receive | Ollie's Bargain Outlet Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 322,962 | May 2023 | GSI | — | 48,614 | 48,614 |
58 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Ollie's Bargain Outlet Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,576,393 | May 2023 | GSI | — | $237,284 | $237,284 |
Receive | Schlumberger, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 666,149 | May 2023 | GSI | — | 23,250 | 23,250 |
Receive | Sterling Bancorp | 1-Month USD LIBOR + 0.20% | Monthly | USD | 614,213 | May 2023 | GSI | — | (22,262) | (22,262) |
Receive | Steven Madden, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 836,060 | May 2023 | GSI | — | 116,854 | 116,854 |
Receive | The Boston Beer Company, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,634,353 | May 2023 | GSI | — | 24,498 | 24,498 |
Receive | TJX Companies, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 153,693 | May 2023 | GSI | — | 4,008 | 4,008 |
Receive | TJX Companies, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 311,973 | May 2023 | GSI | — | 8,133 | 8,133 |
Receive | TJX Companies, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 436,920 | May 2023 | GSI | — | (9,113) | (9,113) |
Receive | Trane Technologies PLC | 1-Month USD LIBOR + 0.20% | Monthly | USD | 303,802 | May 2023 | GSI | — | (8,060) | (8,060) |
Receive | UroGen Pharma, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 51,069 | May 2023 | GSI | — | (4,428) | (4,428) |
Receive | UroGen Pharma, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 252,897 | May 2023 | GSI | — | — | — |
Receive | Wolverine World Wide, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 29,149 | May 2023 | GSI | — | — | — |
Receive | 8x8, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 482,923 | May 2020 | JPM | — | 24,880 | 24,880 |
Receive | 8x8, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 8,044 | May 2020 | JPM | — | 414 | 414 |
Receive | Acadia Healthcare Company, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 353,635 | May 2020 | JPM | — | 126,405 | 126,405 |
Receive | Accton Technology Corp. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 563,721 | May 2020 | JPM | — | 145,429 | 145,429 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 59 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Accton Technology Corp. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 319,639 | May 2020 | JPM | $(3) | $82,343 | $82,340 |
Receive | Advanced Micro Devices, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 275,616 | May 2020 | JPM | — | 28,084 | 28,084 |
Receive | Advanced Micro Devices, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 466,076 | May 2020 | JPM | — | 47,491 | 47,491 |
Receive | AerCap Holdings NV | 1-Month USD LIBOR + 0.20% | Monthly | USD | 74,972 | May 2020 | JPM | — | 22,813 | 22,813 |
Receive | Agios Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 227,007 | May 2020 | JPM | — | 9,241 | 9,241 |
Receive | Agios Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 615,608 | May 2020 | JPM | — | 25,059 | 25,059 |
Receive | Aimmune Therapeutics, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 12,123 | May 2020 | JPM | — | 2,608 | 2,608 |
Receive | Alibaba Group Holding, Ltd., ADR | 1-Month USD LIBOR + 0.20% | Monthly | USD | 545,738 | May 2020 | JPM | — | 16,958 | 16,958 |
Receive | Alibaba Group Holding, Ltd., ADR | 1-Month USD LIBOR + 0.20% | Monthly | USD | 624,122 | May 2020 | JPM | — | 19,394 | 19,394 |
Receive | Allscripts Healthcare Solutions, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 98,068 | May 2020 | JPM | — | (2,295) | (2,295) |
Receive | Alnylam Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 789,914 | May 2020 | JPM | — | 137,316 | 137,316 |
Receive | Alphabet, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,965,279 | May 2020 | JPM | — | 270,433 | 270,433 |
Receive | Alphabet, Inc., Class C | 1-Month USD LIBOR + 0.20% | Monthly | USD | 2,097,288 | May 2020 | JPM | — | 284,560 | 284,560 |
Receive | Amazon.com, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 4,144,999 | May 2020 | JPM | — | 986,111 | 986,111 |
Receive | Amedisys, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 113,179 | May 2020 | JPM | — | (171) | (171) |
Receive | Amedisys, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 723,311 | May 2020 | JPM | — | (1,093) | (1,093) |
60 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | American International Group, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 38,994 | May 2020 | JPM | — | $7,055 | $7,055 |
Receive | American Tower Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 379,110 | May 2020 | JPM | — | 6,064 | 6,064 |
Receive | American Tower Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 189,085 | May 2020 | JPM | — | 3,024 | 3,024 |
Receive | Amgen, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 2,627,400 | May 2020 | JPM | — | 341,687 | 341,687 |
Receive | Amneal Pharmaceuticals, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 15,700 | May 2020 | JPM | — | 2,438 | 2,438 |
Receive | Amneal Pharmaceuticals, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 39,498 | May 2020 | JPM | — | 6,131 | 6,131 |
Receive | Amneal Pharmaceuticals, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 25,249 | May 2020 | JPM | — | 3,920 | 3,920 |
Receive | Anthem, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,279,607 | May 2020 | JPM | — | 311,099 | 311,099 |
Receive | Apple, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 885,836 | May 2020 | JPM | — | 105,217 | 105,217 |
Receive | Apple, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 265,620 | May 2020 | JPM | — | 31,550 | 31,550 |
Receive | Arena Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 30,392 | May 2020 | JPM | — | 1,022 | 1,022 |
Receive | Ares Management Corp., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 148,702 | May 2020 | JPM | — | 13,189 | 13,189 |
Receive | Ares Management Corp., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 369,415 | May 2020 | JPM | — | 32,766 | 32,766 |
Receive | Ares Management Corp., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 482,082 | May 2020 | JPM | — | 42,759 | 42,759 |
Receive | ASM International NV | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 245,572 | May 2020 | JPM | — | 14,781 | 14,781 |
Receive | ASML Holding NV | 1-Month USD LIBOR + 0.20% | Monthly | USD | 931,603 | May 2020 | JPM | — | 64,035 | 64,035 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 61 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | ASML Holding NV | 1-Month USD LIBOR + 0.20% | Monthly | USD | 420,523 | May 2020 | JPM | — | $28,905 | $28,905 |
Receive | ASML Holding NV | 1-Month USD LIBOR + 0.20% | Monthly | USD | 143,970 | May 2020 | JPM | — | 9,896 | 9,896 |
Receive | Assured Guaranty, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 93,921 | May 2020 | JPM | — | 22,417 | 22,417 |
Receive | Atlassian Corp. PLC | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,760,567 | May 2020 | JPM | — | 239,656 | 239,656 |
Receive | Axcelis Technologies, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 79,149 | May 2020 | JPM | — | 17,912 | 17,912 |
Receive | Axcelis Technologies, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 350,850 | May 2020 | JPM | — | 79,398 | 79,398 |
Receive | Axcelis Technologies, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 120,733 | May 2020 | JPM | — | 27,322 | 27,322 |
Receive | Axcelis Technologies, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 59,976 | May 2020 | JPM | — | 13,573 | 13,573 |
Receive | Axcelis Technologies, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 180,690 | May 2020 | JPM | — | 40,890 | 40,890 |
Receive | Axcelis Technologies, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 19,040 | May 2020 | JPM | — | 4,309 | 4,309 |
Receive | Axcelis Technologies, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 72,771 | May 2020 | JPM | — | 16,468 | 16,468 |
Receive | Axcelis Technologies, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 145,485 | May 2020 | JPM | — | 32,923 | 32,923 |
Receive | Bandwidth, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 321,339 | May 2020 | JPM | — | 41,822 | 41,822 |
Receive | Bank of America Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 313,492 | May 2020 | JPM | — | 38,800 | 38,800 |
Receive | Baxter International, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 4,331 | May 2020 | JPM | — | 194 | 194 |
Receive | Baxter International, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 605,551 | May 2020 | JPM | — | 27,094 | 27,094 |
62 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | BE Semiconductor Industries NV | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 176,827 | May 2020 | JPM | — | $65,328 | $65,328 |
Receive | BE Semiconductor Industries NV | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 145,366 | May 2020 | JPM | — | 53,705 | 53,705 |
Receive | BE Semiconductor Industries NV | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 104,888 | May 2020 | JPM | — | 38,750 | 38,750 |
Receive | Becton, Dickinson and Company | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,590,621 | May 2020 | JPM | — | 98,373 | 98,373 |
Receive | Becton, Dickinson and Company | 1-Month USD LIBOR + 0.20% | Monthly | USD | 824,547 | May 2020 | JPM | — | 50,995 | 50,995 |
Receive | Biohaven Pharmaceutical Holding Company, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 149,236 | May 2020 | JPM | — | 69,785 | 69,785 |
Receive | Biohaven Pharmaceutical Holding Company, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 215,096 | May 2020 | JPM | — | 100,583 | 100,583 |
Receive | Biohaven Pharmaceutical Holding Company, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 352,880 | May 2020 | JPM | — | 165,012 | 165,012 |
Receive | Bravura Solutions, Ltd. | 1-Month AUD BBSW + 0.30% | Monthly | AUD | 1,409,635 | May 2020 | JPM | — | 294,418 | 294,418 |
Receive | Ceridian HCM Holding, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 209,454 | May 2020 | JPM | — | 68,172 | 68,172 |
Receive | Charter Communications, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,151,173 | May 2020 | JPM | — | 88,701 | 88,701 |
Receive | Charter Communications, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 505,965 | May 2020 | JPM | — | 38,986 | 38,986 |
Receive | CIMB Group Holdings BHD | 1-Month USD LIBOR + 0.90% | Monthly | USD | 19,194 | May 2020 | JPM | — | 622 | 622 |
Receive | CIMB Group Holdings BHD | 1-Month USD LIBOR + 0.90% | Monthly | USD | 17,191 | May 2020 | JPM | — | 569 | 569 |
Receive | CIMB Group Holdings BHD | 1-Month USD LIBOR + 0.90% | Monthly | USD | 13,328 | May 2020 | JPM | — | 441 | 441 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 63 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | CIMB Group Holdings BHD | 1-Month USD LIBOR + 0.90% | Monthly | USD | 15,820 | May 2020 | JPM | — | $523 | $523 |
Receive | CIMB Group Holdings BHD | 1-Month USD LIBOR + 0.90% | Monthly | USD | 47,461 | May 2020 | JPM | — | 1,540 | 1,540 |
Receive | Corning, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 777,126 | May 2020 | JPM | — | 90,227 | 90,227 |
Receive | CTT-Correios de Portugal SA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 251,799 | May 2020 | JPM | — | (9,477) | (9,477) |
Receive | DexCom, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 536,466 | May 2020 | JPM | — | 130,937 | 130,937 |
Receive | Encompass Health Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 29,234 | May 2020 | JPM | — | 1,153 | 1,153 |
Receive | Encompass Health Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 206,815 | May 2020 | JPM | — | 8,155 | 8,155 |
Receive | ExlService Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 173,166 | May 2020 | JPM | — | 42,828 | 42,828 |
Receive | ExlService Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,355,185 | May 2020 | JPM | — | 335,168 | 335,168 |
Receive | ExlService Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 189,052 | May 2020 | JPM | — | 46,646 | 46,646 |
Receive | Facebook, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,516,769 | May 2020 | JPM | — | 357,891 | 357,891 |
Receive | Facebook, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 241,703 | May 2020 | JPM | — | 57,174 | 57,174 |
Receive | Facebook, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 215,546 | May 2020 | JPM | — | 50,986 | 50,986 |
Receive | Fidelity National Information Services, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 659,510 | May 2020 | JPM | — | 47,001 | 47,001 |
Receive | Fidelity National Information Services, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,015,407 | May 2020 | JPM | — | 72,615 | 72,615 |
64 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | FleetCor Technologies, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 138,080 | May 2020 | JPM | — | $23,476 | $23,476 |
Receive | Flex, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 368,406 | May 2020 | JPM | — | 40,438 | 40,438 |
Receive | Genmab A/S | 1-Month DKK CIBOR + 0.20% | Monthly | DKK | 489,100 | May 2020 | JPM | — | 8,733 | 8,733 |
Receive | Global Payments, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 183,843 | May 2020 | JPM | — | 28,388 | 28,388 |
Receive | GlycoMimetics, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 27,200 | May 2020 | JPM | — | 7,431 | 7,431 |
Receive | GoDaddy, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 27,057 | May 2020 | JPM | — | 4,865 | 4,865 |
Receive | GoDaddy, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 129,522 | May 2020 | JPM | — | 23,287 | 23,287 |
Receive | GoDaddy, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 518,087 | May 2020 | JPM | — | 93,148 | 93,148 |
Receive | GoDaddy, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,613,844 | May 2020 | JPM | — | 291,107 | 291,107 |
Receive | HCA Healthcare, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,006,734 | May 2020 | JPM | — | 174,763 | 174,763 |
Receive | Hill-Rom Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 915,600 | May 2020 | JPM | — | 28,197 | 28,197 |
Receive | Humana, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 2,012,958 | May 2020 | JPM | — | 336,747 | 336,747 |
Receive | Hutchison China MediTech, Ltd., ADR | 1-Month USD LIBOR + 0.20% | Monthly | USD | 11,827 | May 2020 | JPM | — | 2,081 | 2,081 |
Receive | Incyte Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,046,598 | May 2020 | JPM | — | 153,711 | 153,711 |
Receive | Incyte Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 256,777 | May 2020 | JPM | — | 37,666 | 37,666 |
Receive | Intact Financial Corp. | 1-Month CAD CDOR + 0.20% | Monthly | CAD | 3,495 | May 2020 | JPM | — | (37) | (37) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 65 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Kasikornbank PCL, NVDR | 1-Month USD LIBOR + 1.00% | Monthly | USD | 53,970 | May 2020 | JPM | $(2) | $4,527 | $4,525 |
Receive | KLA Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 256,311 | May 2020 | JPM | — | 26,908 | 26,908 |
Receive | KLA Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 78,111 | May 2020 | JPM | — | 8,154 | 8,154 |
Receive | KLA Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 78,705 | May 2020 | JPM | — | 8,216 | 8,216 |
Receive | KLA Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 78,705 | May 2020 | JPM | — | 8,216 | 8,216 |
Receive | KLA Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 573,210 | May 2020 | JPM | — | 59,840 | 59,840 |
Receive | KLA Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 305,316 | May 2020 | JPM | — | 31,873 | 31,873 |
Receive | Leidos Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 250,604 | May 2020 | JPM | — | 10,205 | 10,205 |
Receive | Leidos Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 107,321 | May 2020 | JPM | — | 4,370 | 4,370 |
Receive | LiveRamp Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 242,750 | May 2020 | JPM | — | 58,435 | 58,435 |
Receive | Lumentum Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 216,022 | May 2020 | JPM | — | 17,646 | 17,646 |
Receive | Lumentum Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 148,702 | May 2020 | JPM | — | 12,147 | 12,147 |
Receive | Lumentum Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 148,553 | May 2020 | JPM | — | 12,134 | 12,134 |
Receive | Lumentum Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 297,255 | May 2020 | JPM | — | 24,281 | 24,281 |
Receive | Lumentum Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 334,730 | May 2020 | JPM | — | 27,145 | 27,145 |
Receive | Lumentum Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 39,644 | May 2020 | JPM | — | 3,215 | 3,215 |
66 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Lumentum Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 295,086 | May 2020 | JPM | — | $23,930 | $23,930 |
Receive | Lumentum Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 326,278 | May 2020 | JPM | — | 26,460 | 26,460 |
Receive | Lumentum Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 296,956 | May 2020 | JPM | — | 24,082 | 24,082 |
Receive | Madrigal Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 59,343 | May 2020 | JPM | — | 16,102 | 16,102 |
Receive | Madrigal Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 254,213 | May 2020 | JPM | — | 68,977 | 68,977 |
Receive | Marvell Technology Group, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 306,034 | May 2020 | JPM | — | 37,817 | 37,817 |
Receive | MediaTek, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 399,883 | May 2020 | JPM | $(23) | 95,188 | 95,166 |
Receive | Medtronic PLC | 1-Month USD LIBOR + 0.20% | Monthly | USD | 826,675 | May 2020 | JPM | — | 35,360 | 35,360 |
Receive | Medtronic PLC | 1-Month USD LIBOR + 0.20% | Monthly | USD | 512,791 | May 2020 | JPM | — | 21,934 | 21,934 |
Receive | Micron Technology, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,808 | May 2020 | JPM | — | 59 | 59 |
Receive | Molina Healthcare, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 141,705 | May 2020 | JPM | — | 22,989 | 22,989 |
Receive | Momenta Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 60,200 | May 2020 | JPM | — | 7,909 | 7,909 |
Receive | Mylan NV | 1-Month USD LIBOR + 0.20% | Monthly | USD | 4,395 | May 2020 | JPM | — | 851 | 851 |
Receive | MyoKardia, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,046,865 | May 2020 | JPM | — | 321,178 | 321,178 |
Receive | MyoKardia, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 235,445 | May 2020 | JPM | — | 72,175 | 72,175 |
Receive | Nexon Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 88,523,200 | May 2020 | JPM | — | (31,832) | (31,832) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 67 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Ono Pharmaceutical Company, Ltd. | 1-Month JPY LIBOR + 0.20% | Monthly | JPY | 103,299,500 | May 2020 | JPM | — | $35,913 | $35,913 |
Receive | PayPal Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 3,147,500 | May 2020 | JPM | — | 660,334 | 660,334 |
Receive | PayPal Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,388,914 | May 2020 | JPM | — | 290,572 | 290,572 |
Receive | PayPal Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 571,284 | May 2020 | JPM | — | 119,517 | 119,517 |
Receive | Penumbra, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 686,004 | May 2020 | JPM | — | 59,223 | 59,223 |
Receive | Pfizer, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,370,009 | May 2020 | JPM | — | 148,404 | 148,404 |
Receive | Pfizer, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,361,125 | May 2020 | JPM | — | 148,107 | 148,107 |
Receive | Pfizer, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 372,699 | May 2020 | JPM | — | 40,641 | 40,641 |
Receive | Pfizer, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 372,630 | May 2020 | JPM | — | 40,633 | 40,633 |
Receive | Pfizer, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 777,306 | May 2020 | JPM | — | 84,761 | 84,761 |
Receive | PRA Health Sciences, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 384,128 | May 2020 | JPM | — | 84,154 | 84,154 |
Receive | QUALCOMM, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 505,093 | May 2020 | JPM | — | 54,661 | 54,661 |
Receive | R1 RCM, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 11,363 | May 2020 | JPM | — | 2,346 | 2,346 |
Receive | R1 RCM, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 104,977 | May 2020 | JPM | — | 21,670 | 21,670 |
Receive | Radius Health, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 22,824 | May 2020 | JPM | — | 4,600 | 4,600 |
Receive | Revance Therapeutics, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 34,816 | May 2020 | JPM | — | 6,598 | 6,598 |
68 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Rigel Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 328,717 | May 2020 | JPM | — | $40,925 | $40,925 |
Receive | Splunk, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 429,318 | May 2020 | JPM | — | 79,266 | 79,266 |
Receive | Spotify Technology SA | 1-Month USD LIBOR + 0.20% | Monthly | USD | 171,405 | May 2020 | JPM | — | 40,540 | 40,540 |
Receive | Square, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 370,537 | May 2020 | JPM | — | 107,959 | 107,959 |
Receive | Sterling Bancorp | 1-Month USD LIBOR + 0.20% | Monthly | USD | 206,013 | May 2020 | JPM | — | 54,876 | 54,876 |
Receive | StoneCo, Ltd., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 117,916 | May 2020 | JPM | — | 21,950 | 21,950 |
Receive | StoneCo, Ltd., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 323,080 | May 2020 | JPM | — | 60,142 | 60,142 |
Receive | StoneCo, Ltd., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 178,988 | May 2020 | JPM | — | 33,213 | 33,213 |
Receive | SVMK, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 241,201 | May 2020 | JPM | — | 62,091 | 62,091 |
Receive | TCS Group Holding PLC | 1-Month USD LIBOR + 0.20% | Monthly | USD | 275,736 | May 2020 | JPM | — | 32,695 | 32,695 |
Receive | Thermo Fisher Scientific, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 2,332,592 | May 2020 | JPM | — | 234,156 | 234,156 |
Receive | T-Mobile US, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 280,912 | May 2020 | JPM | — | 5,414 | 5,414 |
Receive | T-Mobile US, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 419,000 | May 2020 | JPM | — | 8,076 | 8,076 |
Receive | Tower Semiconductor, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 38,776 | May 2020 | JPM | — | 5,153 | 5,153 |
Receive | Tower Semiconductor, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 12,914 | May 2020 | JPM | — | 1,716 | 1,716 |
Receive | TransUnion | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,919,963 | May 2020 | JPM | — | 420,651 | 420,651 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 69 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | TriNet Group, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 82,286 | May 2020 | JPM | — | $23,783 | $23,783 |
Receive | Turning Point Therapeutics, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 47,824 | May 2020 | JPM | — | 6,336 | 6,336 |
Receive | UnitedHealth Group, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,693,182 | May 2020 | JPM | — | 299,882 | 299,882 |
Receive | UnitedHealth Group, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 648,167 | May 2020 | JPM | — | 114,661 | 114,661 |
Receive | UroGen Pharma, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 66,733 | May 2020 | JPM | — | 7,175 | 7,175 |
Receive | Vertex Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 2,193,027 | May 2020 | JPM | — | (36,510) | (36,510) |
Receive | Vertex Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 306,360 | May 2020 | JPM | — | (5,178) | (5,178) |
Receive | Vertex Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,213,952 | May 2020 | JPM | — | (20,495) | (20,495) |
Receive | Vietnam Technological and Commercial Joint Stock Bank | 1-Month USD LIBOR + 1.25% | Monthly | USD | 53,441 | May 2020 | JPM | — | 1,073 | 1,073 |
Receive | Vietnam Technological and Commercial Joint Stock Bank | 1-Month USD LIBOR + 1.25% | Monthly | USD | 35,964 | May 2020 | JPM | — | 722 | 722 |
Receive | Vietnam Technological and Commercial Joint Stock Bank | 1-Month USD LIBOR + 1.25% | Monthly | USD | 14,386 | May 2020 | JPM | — | 279 | 279 |
Receive | Vietnam Technological and Commercial Joint Stock Bank | 1-Month USD LIBOR + 1.25% | Monthly | USD | 137,348 | May 2020 | JPM | — | 2,747 | 2,747 |
70 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Voya Financial, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 584,724 | May 2020 | JPM | — | $73,421 | $73,421 |
Receive | WaVe Life Sciences, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 111,571 | May 2020 | JPM | — | 3,903 | 3,903 |
Receive | WaVe Life Sciences, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 130,669 | May 2020 | JPM | — | 4,507 | 4,507 |
Receive | Western Digital Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 275,322 | May 2020 | JPM | — | 22,281 | 22,281 |
Receive | Western Digital Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 213,215 | May 2020 | JPM | — | 15,973 | 15,973 |
Receive | Western Digital Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 537,694 | May 2020 | JPM | — | 40,281 | 40,281 |
Receive | WEX, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 257,699 | May 2020 | JPM | — | 74,076 | 74,076 |
Receive | WEX, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 2,287,557 | May 2020 | JPM | — | 659,474 | 659,474 |
Receive | WEX, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 30,197 | May 2020 | JPM | — | 8,688 | 8,688 |
Receive | WEX, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 120,787 | May 2020 | JPM | — | 34,750 | 34,750 |
Receive | Zealand Pharma A/S, ADR | 1-Month USD LIBOR + 0.20% | Monthly | USD | 18,752 | May 2020 | JPM | — | 1,602 | 1,602 |
Receive | Zscaler, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 590,556 | May 2020 | JPM | — | 35,167 | 35,167 |
Receive | Charter Communications, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 388,320 | Apr 2021 | JPM | — | 29,921 | 29,921 |
Receive | Advanced Micro Devices, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 328,648 | May 2023 | JPM | — | 33,487 | 33,487 |
Receive | Apple, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 2,582,283 | May 2023 | JPM | — | — | — |
Receive | Credit Suisse Group AG | 1-Month CHF LIBOR + 0.20% | Monthly | CHF | 676,123 | May 2023 | JPM | — | 10,552 | 10,552 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 71 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | DNB ASA | 1-Month NOK NIBOR + 0.20% | Monthly | NOK | 4,577,410 | May 2023 | JPM | — | $7,660 | $7,660 |
Receive | Engie SA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 298,721 | May 2023 | JPM | — | 25,119 | 25,119 |
Receive | Engie SA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 6,382 | May 2023 | JPM | — | 170 | 170 |
Receive | Engie SA | 1-Month EUR EURIBOR + 0.20% | Monthly | EUR | 484,412 | May 2023 | JPM | — | — | — |
Receive | Essential Properties Realty Trust, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 799,736 | May 2023 | JPM | — | 15,970 | 15,970 |
Receive | Hologic, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 245,483 | May 2023 | JPM | — | 55,960 | 55,960 |
Receive | Hologic, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 50,585 | May 2023 | JPM | — | 9,664 | 9,664 |
Receive | Hologic, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 199,134 | May 2023 | JPM | — | 42,074 | 42,074 |
Receive | ICICI Bank, Ltd. | 1-Month USD LIBOR + 0.90% | Monthly | USD | 1,080,567 | May 2023 | JPM | — | — | — |
Receive | IDEXX Laboratories, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 560,255 | May 2023 | JPM | — | 50,691 | 50,691 |
Receive | Independent Bank Group, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 157,276 | May 2023 | JPM | — | (7,363) | (7,363) |
Receive | Independent Bank Group, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 114,068 | May 2023 | JPM | — | — | — |
Receive | Intuitive Surgical, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 873,419 | May 2023 | JPM | — | 18,063 | 18,063 |
Receive | Intuitive Surgical, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 554,766 | May 2023 | JPM | — | 11,473 | 11,473 |
Receive | KB Financial Group, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 5,059 | May 2023 | JPM | — | 501 | 501 |
72 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Lennar Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,164,040 | May 2023 | JPM | — | $12,835 | $12,835 |
Receive | Livongo Health, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 995,261 | May 2023 | JPM | — | (25,716) | (25,716) |
Receive | Mastercard, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,510,968 | May 2023 | JPM | — | (40,703) | (40,703) |
Receive | Match Group, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,158,230 | May 2023 | JPM | — | 69,418 | 69,418 |
Receive | MediaTek, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 1,093,778 | May 2023 | JPM | — | 64,563 | 64,563 |
Receive | Medical Properties Trust, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,384,161 | May 2023 | JPM | — | (117,475) | (117,475) |
Receive | Pfizer, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 11,111 | May 2023 | JPM | — | 699 | 699 |
Receive | Pfizer, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 699,982 | May 2023 | JPM | — | — | — |
Receive | Regeneron Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 515,213 | May 2023 | JPM | — | 15,664 | 15,664 |
Receive | Schlumberger, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 650,896 | May 2023 | JPM | — | 11,950 | 11,950 |
Receive | Standard Chartered PLC | 1-Month GBP LIBOR + 0.20% | Monthly | GBP | 340,377 | May 2023 | JPM | — | (1,217) | (1,217) |
Receive | Tenaris SA, ADR | 1-Month USD LIBOR + 0.20% | Monthly | USD | 238,822 | May 2023 | JPM | — | 16,406 | 16,406 |
Receive | Tenaris SA, ADR | 1-Month USD LIBOR + 0.20% | Monthly | USD | 427,509 | May 2023 | JPM | — | 28,663 | 28,663 |
Receive | UnitedHealth Group, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 309,169 | May 2023 | JPM | — | 4,629 | 4,629 |
Receive | UnitedHealth Group, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 923,918 | May 2023 | JPM | — | 16,324 | 16,324 |
Receive | Varian Medical Systems, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,556,500 | May 2023 | JPM | — | 64,726 | 64,726 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 73 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Wolverine World Wide, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,087,123 | May 2023 | JPM | — | $28,334 | $28,334 |
Receive | Abbott Laboratories | 1-Month USD LIBOR + 0.50% | Monthly | USD | 1,873,910 | May 2020 | MSI | — | 28,817 | 28,817 |
Receive | AerCap Holdings NV | 1-Month USD LIBOR + 0.50% | Monthly | USD | 776,899 | May 2020 | MSI | — | 124,352 | 124,352 |
Receive | Aerie Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 460,838 | May 2020 | MSI | — | (6,375) | (6,375) |
Receive | Aimmune Therapeutics, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 11,473 | May 2020 | MSI | — | 1,095 | 1,095 |
Receive | Aimmune Therapeutics, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 5,261 | May 2020 | MSI | — | 505 | 505 |
Receive | Aimmune Therapeutics, Inc. | 1-Month USD LIBOR + 0.25% | Monthly | USD | 20,168 | May 2020 | MSI | — | 1,930 | 1,930 |
Receive | Allscripts Healthcare Solutions, Inc. | 1-Month USD LIBOR + 0.25% | Monthly | USD | 219,528 | May 2020 | MSI | — | 18,435 | 18,435 |
Receive | Alnylam Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.25% | Monthly | USD | 220,766 | May 2020 | MSI | — | 18,287 | 18,287 |
Receive | Alnylam Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.25% | Monthly | USD | 524,880 | May 2020 | MSI | — | 43,479 | 43,479 |
Receive | American International Group, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 665,860 | May 2020 | MSI | — | 45,142 | 45,142 |
Receive | American Tower Corp. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 1,070,394 | May 2020 | MSI | — | (37,867) | (37,867) |
Receive | Anthem, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 27,802 | May 2020 | MSI | — | 3,423 | 3,423 |
Receive | ARC Resources, Ltd. | 1-Month CAD CDOR + 0.20% | Monthly | CAD | 971,806 | May 2020 | MSI | — | 154,930 | 154,930 |
Receive | Arena Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 25,849 | May 2020 | MSI | — | 952 | 952 |
Receive | Arena Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 11,840 | May 2020 | MSI | — | 442 | 442 |
74 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Arena Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.25% | Monthly | USD | 45,708 | May 2020 | MSI | — | $1,695 | $1,695 |
Receive | ASM International NV | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 295,146 | May 2020 | MSI | — | 30,245 | 30,245 |
Receive | ASM Pacific Technology, Ltd. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 325,173 | May 2020 | MSI | — | (1,310) | (1,310) |
Receive | ASM Pacific Technology, Ltd. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 1,203,674 | May 2020 | MSI | — | (4,430) | (4,430) |
Receive | ASM Pacific Technology, Ltd. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 2,099,195 | May 2020 | MSI | — | (7,725) | (7,725) |
Receive | ASML Holding NV | 1-Month USD LIBOR + 0.20% | Monthly | USD | 771,480 | May 2020 | MSI | — | 19,312 | 19,312 |
Receive | Assured Guaranty, Ltd. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 1,101,212 | May 2020 | MSI | — | 74,058 | 74,058 |
Receive | AstraZeneca PLC | 1-Month GBP LIBOR + 0.50% | Monthly | GBP | 479,745 | May 2020 | MSI | — | 67,539 | 67,539 |
Receive | AstraZeneca PLC | 1-Month GBP LIBOR + 0.50% | Monthly | GBP | 104,097 | May 2020 | MSI | — | 14,655 | 14,655 |
Receive | AstraZeneca PLC | 1-Month GBP LIBOR + 0.50% | Monthly | GBP | 1,511,273 | May 2020 | MSI | — | 212,756 | 212,756 |
Receive | AXA SA | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 150,265 | May 2020 | MSI | — | 14,059 | 14,059 |
Receive | AXA SA | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 65,672 | May 2020 | MSI | — | 6,144 | 6,144 |
Receive | Banc of California, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 582,488 | May 2020 | MSI | — | 131,251 | 131,251 |
Receive | Barrick Gold Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,260,058 | May 2020 | MSI | — | 68,225 | 68,225 |
Receive | BAWAG Group AG | 1-Month EUR EURIBOR + 0.50% | Monthly | EUR | 496,687 | May 2020 | MSI | — | 149,931 | 149,931 |
Receive | BAWAG Group AG | 1-Month EUR EURIBOR + 0.50% | Monthly | EUR | 115,277 | May 2020 | MSI | — | 34,798 | 34,798 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 75 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | BAWAG Group AG | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 38,742 | May 2020 | MSI | — | $11,696 | $11,696 |
Receive | BAWAG Group AG | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 177,804 | May 2020 | MSI | — | 53,679 | 53,679 |
Receive | BE Semiconductor Industries NV | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 225,972 | May 2020 | MSI | — | 80,332 | 80,332 |
Receive | BE Semiconductor Industries NV | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 34,401 | May 2020 | MSI | — | 12,229 | 12,229 |
Receive | BE Semiconductor Industries NV | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 194,833 | May 2020 | MSI | — | 69,262 | 69,262 |
Receive | BE Semiconductor Industries NV | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 232,042 | May 2020 | MSI | — | 82,489 | 82,489 |
Receive | BE Semiconductor Industries NV | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 230,312 | May 2020 | MSI | — | 81,874 | 81,874 |
Receive | BE Semiconductor Industries NV | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 213,012 | May 2020 | MSI | — | 75,725 | 75,725 |
Receive | Bio-Techne Corp. | 1-Month USD LIBOR + 0.25% | Monthly | USD | 243,803 | May 2020 | MSI | — | 28,177 | 28,177 |
Receive | Blueprint Medicines Corp. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 808,499 | May 2020 | MSI | — | (70,188) | (70,188) |
Receive | Blueprint Medicines Corp. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 450,310 | May 2020 | MSI | — | (38,864) | (38,864) |
Receive | Cellnex Telecom SA | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 479,840 | May 2020 | MSI | — | 11,236 | 11,236 |
Receive | Charter Communications, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 457,111 | May 2020 | MSI | — | (1,589) | (1,589) |
Receive | Chegg, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 131,891 | May 2020 | MSI | — | 9,787 | 9,787 |
Receive | China National Accord Medicines Corp. Ltd., Class A | 1-Month USD LIBOR + 0.70% | Monthly | USD | 65,500 | May 2020 | MSI | — | (4,174) | (4,174) |
76 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | China National Accord Medicines Corp. Ltd., Class A | 1-Month USD LIBOR + 0.70% | Monthly | USD | 43,118 | May 2020 | MSI | — | $(2,760) | $(2,760) |
Receive | China Tower Corp., Ltd. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 4,969,260 | May 2020 | MSI | — | 10,753 | 10,753 |
Receive | CIMB Group Holdings BHD | 1-Month USD LIBOR + 0.75% | Monthly | USD | 47,973 | May 2020 | MSI | — | 515 | 515 |
Receive | CIMB Group Holdings BHD | 1-Month USD LIBOR + 0.75% | Monthly | USD | 77,991 | May 2020 | MSI | — | 838 | 838 |
Receive | CIMB Group Holdings BHD | 1-Month USD LIBOR + 0.75% | Monthly | USD | 21,422 | May 2020 | MSI | — | 230 | 230 |
Receive | CIMB Group Holdings BHD | 1-Month USD LIBOR + 0.75% | Monthly | USD | 28,862 | May 2020 | MSI | — | 310 | 310 |
Receive | Citizens Financial Group, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 226,620 | May 2020 | MSI | — | 50,950 | 50,950 |
Receive | CoStar Group, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 47,451 | May 2020 | MSI | — | 449 | 449 |
Receive | CTT-Correios de Portugal SA | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 22,807 | May 2020 | MSI | — | (1,477) | (1,477) |
Receive | CTT-Correios de Portugal SA | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 240,432 | May 2020 | MSI | — | (15,567) | (15,567) |
Receive | Direct Line Insurance Group PLC | 1-Month GBP LIBOR + 0.30% | Monthly | GBP | 1,336,373 | May 2020 | MSI | — | 77,849 | 77,849 |
Receive | Eisai Company, Ltd. | 1-Month JPY LIBOR + 0.35% | Monthly | JPY | 21,369,600 | May 2020 | MSI | — | (8,537) | (8,537) |
Receive | Eisai Company, Ltd. | 1-Month JPY LIBOR + 0.35% | Monthly | JPY | 6,479,250 | May 2020 | MSI | — | (2,588) | (2,588) |
Receive | Eisai Company, Ltd. | 1-Month JPY LIBOR + 0.35% | Monthly | JPY | 1,645,650 | May 2020 | MSI | — | (657) | (657) |
Receive | Eisai Company, Ltd. | 1-Month JPY LIBOR + 0.35% | Monthly | JPY | 5,588,850 | May 2020 | MSI | — | (2,233) | (2,233) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 77 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Eisai Company, Ltd. | 1-Month JPY LIBOR + 0.35% | Monthly | JPY | 4,141,950 | May 2020 | MSI | — | $(1,655) | $(1,655) |
Receive | Eisai Company, Ltd. | 1-Month JPY LIBOR + 0.35% | Monthly | JPY | 2,456,550 | May 2020 | MSI | — | (981) | (981) |
Receive | Eisai Company, Ltd. | 1-Month JPY LIBOR + 0.35% | Monthly | JPY | 3,315,150 | May 2020 | MSI | — | (1,324) | (1,324) |
Receive | Eisai Company, Ltd. | 1-Month JPY LIBOR + 0.35% | Monthly | JPY | 3,871,650 | May 2020 | MSI | — | (1,547) | (1,547) |
Receive | Eisai Company, Ltd. | 1-Month JPY LIBOR + 0.35% | Monthly | JPY | 3,315,150 | May 2020 | MSI | — | (1,324) | (1,324) |
Receive | EPAM Systems, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 699,104 | May 2020 | MSI | — | 47,667 | 47,667 |
Receive | Equifax, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 119,165 | May 2020 | MSI | — | 14,191 | 14,191 |
Receive | Equity Group Holdings, Ltd. | 1-Month USD LIBOR + 1.50% | Monthly | USD | 408,045 | May 2020 | MSI | $(1) | 44,018 | 44,017 |
Receive | Equity Group Holdings, Ltd. | 1-Month USD LIBOR + 1.50% | Monthly | USD | 107,271 | May 2020 | MSI | — | 11,571 | 11,571 |
Receive | Equity Group Holdings, Ltd. | 1-Month USD LIBOR + 1.50% | Monthly | USD | 160,780 | May 2020 | MSI | — | 17,343 | 17,343 |
Receive | Erste Group Bank AG | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 27,805 | May 2020 | MSI | — | 5,920 | 5,920 |
Receive | ExlService Holdings, Inc. | 1-Month USD LIBOR + 0.25% | Monthly | USD | 69,524 | May 2020 | MSI | — | 11,616 | 11,616 |
Receive | Fidelity National Information Services, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 75,100 | May 2020 | MSI | — | 7,464 | 7,464 |
Receive | FleetCor Technologies, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 3,901,410 | May 2020 | MSI | — | 543,162 | 543,162 |
Receive | FleetCor Technologies, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 174,886 | May 2020 | MSI | — | 24,351 | 24,351 |
78 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | FleetCor Technologies, Inc. | 1-Month USD LIBOR + 0.25% | Monthly | USD | 626,797 | May 2020 | MSI | — | $87,658 | $87,658 |
Receive | Flex, Ltd. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 90,753 | May 2020 | MSI | — | 19,694 | 19,694 |
Receive | Flex, Ltd. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 30,566 | May 2020 | MSI | — | 6,633 | 6,633 |
Receive | G1 Therapeutics, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 71,159 | May 2020 | MSI | — | 3,218 | 3,218 |
Receive | G1 Therapeutics, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 65,862 | May 2020 | MSI | — | 2,979 | 2,979 |
Receive | G1 Therapeutics, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 20,118 | May 2020 | MSI | — | 910 | 910 |
Receive | Genus PLC | 1-Month GBP LIBOR + 0.50% | Monthly | GBP | 16,249 | May 2020 | MSI | — | (477) | (477) |
Receive | Genus PLC | 1-Month GBP LIBOR + 0.50% | Monthly | GBP | 802,378 | May 2020 | MSI | — | (23,735) | (23,735) |
Receive | Gilead Sciences, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 2,897,659 | May 2020 | MSI | — | 388,436 | 388,436 |
Receive | Globalwafers Company, Ltd. | 1-Month USD LIBOR + 0.55% | Monthly | USD | 252,350 | May 2020 | MSI | — | 6,159 | 6,159 |
Receive | Growthpoint Properties, Ltd. | 1-Month ZAR JIBAR + 0.80% | Monthly | ZAR | 4,576,528 | May 2020 | MSI | — | 7,067 | 7,067 |
Receive | Growthpoint Properties, Ltd. | 1-Month ZAR JIBAR + 0.80% | Monthly | ZAR | 2,649,002 | May 2020 | MSI | — | 4,090 | 4,090 |
Receive | Guidewire Software, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 167,757 | May 2020 | MSI | — | 11,401 | 11,401 |
Receive | Guidewire Software, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 411,449 | May 2020 | MSI | — | 27,962 | 27,962 |
Receive | Guidewire Software, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 411,449 | May 2020 | MSI | — | 27,962 | 27,962 |
Receive | Guidewire Software, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 70,076 | May 2020 | MSI | — | 4,753 | 4,753 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 79 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Guidewire Software, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 220,334 | May 2020 | MSI | — | $14,975 | $14,975 |
Receive | Hikma Pharmaceuticals PLC | 1-Month GBP LIBOR + 0.50% | Monthly | GBP | 11,546 | May 2020 | MSI | — | 1,021 | 1,021 |
Receive | Hutchison China MediTech, Ltd., ADR | 1-Month USD LIBOR + 0.50% | Monthly | USD | 10,188 | May 2020 | MSI | — | 1,710 | 1,710 |
Receive | Hutchison China MediTech, Ltd., ADR | 1-Month USD LIBOR + 0.75% | Monthly | USD | 4,653 | May 2020 | MSI | — | 785 | 785 |
Receive | Hutchison China MediTech, Ltd., ADR | 1-Month USD LIBOR + 0.25% | Monthly | USD | 17,838 | May 2020 | MSI | — | 3,005 | 3,005 |
Receive | ICON PLC | 1-Month USD LIBOR + 0.20% | Monthly | USD | 890,766 | May 2020 | MSI | — | 43,618 | 43,618 |
Receive | Insulet Corp. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 667,215 | May 2020 | MSI | — | 42,921 | 42,921 |
Receive | Kasikornbank PCL, NVDR | 1-Month USD LIBOR + 0.70% | Monthly | USD | 275,373 | May 2020 | MSI | $2,627 | (2,765) | (139) |
Receive | Koninklijke Philips NV | 1-Month EUR EURIBOR + 0.50% | Monthly | EUR | 68,589 | May 2020 | MSI | — | 5,263 | 5,263 |
Receive | Koninklijke Philips NV | 1-Month EUR EURIBOR + 0.50% | Monthly | EUR | 69,925 | May 2020 | MSI | — | 5,365 | 5,365 |
Receive | Koninklijke Philips NV | 1-Month EUR EURIBOR + 0.50% | Monthly | EUR | 161,710 | May 2020 | MSI | — | 12,409 | 12,409 |
Receive | Koninklijke Philips NV | 1-Month EUR EURIBOR + 0.50% | Monthly | EUR | 92,788 | May 2020 | MSI | — | 7,120 | 7,120 |
Receive | Koninklijke Philips NV | 1-Month EUR EURIBOR + 0.50% | Monthly | EUR | 84,177 | May 2020 | MSI | — | 6,459 | 6,459 |
Receive | Koninklijke Philips NV | 1-Month EUR EURIBOR + 0.50% | Monthly | EUR | 45,726 | May 2020 | MSI | — | 3,509 | 3,509 |
Receive | Koninklijke Philips NV | 1-Month EUR EURIBOR + 0.50% | Monthly | EUR | 74,230 | May 2020 | MSI | — | 5,696 | 5,696 |
80 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Koninklijke Philips NV | 1-Month EUR EURIBOR + 0.50% | Monthly | EUR | 111,345 | May 2020 | MSI | — | $8,544 | $8,544 |
Receive | Koninklijke Philips NV | 1-Month EUR EURIBOR + 0.50% | Monthly | EUR | 148,460 | May 2020 | MSI | — | 11,391 | 11,391 |
Receive | Koninklijke Philips NV | 1-Month EUR EURIBOR + 0.50% | Monthly | EUR | 37,115 | May 2020 | MSI | — | 2,848 | 2,848 |
Receive | Koninklijke Philips NV | 1-Month EUR EURIBOR + 0.50% | Monthly | EUR | 74,230 | May 2020 | MSI | — | 5,696 | 5,696 |
Receive | Koninklijke Philips NV | 1-Month EUR EURIBOR + 0.50% | Monthly | EUR | 259,805 | May 2020 | MSI | — | 19,935 | 19,935 |
Receive | Leidos Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 284,156 | May 2020 | MSI | — | 19,750 | 19,750 |
Receive | Leidos Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 643,778 | May 2020 | MSI | — | 44,073 | 44,073 |
Receive | Leidos Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 329,955 | May 2020 | MSI | — | 22,469 | 22,469 |
Receive | Leidos Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 279,799 | May 2020 | MSI | — | 19,124 | 19,124 |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 59,092 | May 2020 | MSI | — | (621) | (621) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 138,384 | May 2020 | MSI | — | (1,453) | (1,453) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 86,103 | May 2020 | MSI | — | (904) | (904) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 35,457 | May 2020 | MSI | — | (372) | (372) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 50,648 | May 2020 | MSI | — | (532) | (532) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 413,638 | May 2020 | MSI | — | (4,344) | (4,344) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 38,831 | May 2020 | MSI | — | (408) | (408) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 81 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 81,040 | May 2020 | MSI | — | $(851) | $(851) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 70,909 | May 2020 | MSI | — | (745) | (745) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 130,001 | May 2020 | MSI | — | (1,365) | (1,365) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 202,597 | May 2020 | MSI | — | (2,128) | (2,128) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 211,039 | May 2020 | MSI | — | (2,216) | (2,216) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 218,637 | May 2020 | MSI | — | (2,296) | (2,296) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 168,830 | May 2020 | MSI | — | (1,773) | (1,773) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 211,041 | May 2020 | MSI | — | (2,216) | (2,216) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 337,664 | May 2020 | MSI | — | (3,546) | (3,546) |
Receive | LiveRamp Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 149,723 | May 2020 | MSI | — | 25,915 | 25,915 |
Receive | LiveRamp Holdings, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 279,779 | May 2020 | MSI | — | 48,420 | 48,420 |
Receive | Madrigal Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 858,652 | May 2020 | MSI | — | 114,181 | 114,181 |
Receive | Madrigal Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 43,825 | May 2020 | MSI | — | 5,820 | 5,820 |
Receive | Marvell Technology Group, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 142,098 | May 2020 | MSI | — | 9,184 | 9,184 |
Receive | Marvell Technology Group, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 488,136 | May 2020 | MSI | — | 31,549 | 31,549 |
Receive | Marvell Technology Group, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 624,072 | May 2020 | MSI | — | 40,266 | 40,266 |
82 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Marvell Technology Group, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 355,571 | May 2020 | MSI | — | $22,985 | $22,985 |
Receive | Marvell Technology Group, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 145,543 | May 2020 | MSI | — | 9,409 | 9,409 |
Receive | Marvell Technology Group, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 127,083 | May 2020 | MSI | — | 8,230 | 8,230 |
Receive | Marvell Technology Group, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 141,242 | May 2020 | MSI | — | 9,147 | 9,147 |
Receive | Marvell Technology Group, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 296,468 | May 2020 | MSI | — | 19,199 | 19,199 |
Receive | Marvell Technology Group, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 138,124 | May 2020 | MSI | — | 8,912 | 8,912 |
Receive | Marvell Technology Group, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 222,502 | May 2020 | MSI | — | 14,376 | 14,376 |
Receive | Marvell Technology Group, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 191,744 | May 2020 | MSI | — | 12,389 | 12,389 |
Receive | Marvell Technology Group, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,972,665 | May 2020 | MSI | — | 127,534 | 127,534 |
Receive | Mastercard, Inc., Class A | 1-Month USD LIBOR + 0.50% | Monthly | USD | 2,089,005 | May 2020 | MSI | — | 144,961 | 144,961 |
Receive | MGIC Investment Corp. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 497,604 | May 2020 | MSI | — | 93,875 | 93,875 |
Receive | MGIC Investment Corp. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 79,820 | May 2020 | MSI | — | 15,060 | 15,060 |
Receive | MGIC Investment Corp. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 89,748 | May 2020 | MSI | — | 16,998 | 16,998 |
Receive | Micron Technology, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 257,547 | May 2020 | MSI | — | 7,084 | 7,084 |
Receive | Molina Healthcare, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 50,303 | May 2020 | MSI | — | 1,117 | 1,117 |
Receive | Molina Healthcare, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 742,207 | May 2020 | MSI | — | 16,492 | 16,492 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 83 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Momenta Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 48,883 | May 2020 | MSI | — | $9,282 | $9,282 |
Receive | Momenta Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 22,406 | May 2020 | MSI | — | 4,266 | 4,266 |
Receive | Momenta Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.25% | Monthly | USD | 83,316 | May 2020 | MSI | — | 15,843 | 15,843 |
Receive | Mylan NV | 1-Month USD LIBOR + 0.25% | Monthly | USD | 19,480 | May 2020 | MSI | — | 1,601 | 1,601 |
Receive | MyoKardia, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 9,161 | May 2020 | MSI | — | 1,633 | 1,633 |
Receive | Netflix, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 118,637 | May 2020 | MSI | — | (3,118) | (3,118) |
Receive | Netflix, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,073,703 | May 2020 | MSI | — | (18,611) | (18,611) |
Receive | Netflix, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 984,086 | May 2020 | MSI | — | (17,091) | (17,091) |
Receive | Netflix, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 337,133 | May 2020 | MSI | — | (5,775) | (5,775) |
Receive | Niu Technologies, ADR | 1-Month USD LIBOR + 0.20% | Monthly | USD | 39,745 | May 2020 | MSI | — | 10,461 | 10,461 |
Receive | Niu Technologies, ADR | 1-Month USD LIBOR + 0.20% | Monthly | USD | 69,556 | May 2020 | MSI | — | 18,297 | 18,297 |
Receive | Niu Technologies, ADR | 1-Month USD LIBOR + 0.20% | Monthly | USD | 86,676 | May 2020 | MSI | — | 22,801 | 22,801 |
Receive | Niu Technologies, ADR | 1-Month USD LIBOR + 0.20% | Monthly | USD | 146,611 | May 2020 | MSI | — | 38,558 | 38,558 |
Receive | Niu Technologies, ADR | 1-Month USD LIBOR + 0.20% | Monthly | USD | 57,962 | May 2020 | MSI | — | 15,248 | 15,248 |
Receive | Niu Technologies, ADR | 1-Month USD LIBOR + 0.20% | Monthly | USD | 116,700 | May 2020 | MSI | — | 30,738 | 30,738 |
Receive | Novartis AG | 1-Month CHF LIBOR + 0.50% | Monthly | CHF | 21,788 | May 2020 | MSI | — | 11 | 11 |
84 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Novartis AG | 1-Month CHF LIBOR + 0.50% | Monthly | CHF | 1,718,809 | May 2020 | MSI | — | $866 | $866 |
Receive | NuVasive, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 721,662 | May 2020 | MSI | — | 107,972 | 107,972 |
Receive | OneMain Holdings, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 583,115 | May 2020 | MSI | — | 264,358 | 264,358 |
Receive | Ono Pharmaceutical Company, Ltd. | 1-Month JPY LIBOR + 0.35% | Monthly | JPY | 35,438,051 | May 2020 | MSI | — | 8,255 | 8,255 |
Receive | Peloton Interactive, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,175,308 | May 2020 | MSI | — | (137,112) | (137,112) |
Receive | Planet Fitness, Inc., Class A | 1-Month USD LIBOR + 0.50% | Monthly | USD | 864,916 | May 2020 | MSI | — | 137,416 | 137,416 |
Receive | Portola Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 23,088 | May 2020 | MSI | — | 604 | 604 |
Receive | Portola Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.25% | Monthly | USD | 2,811 | May 2020 | MSI | — | 74 | 74 |
Receive | Portola Pharmaceuticals, Inc. | 1-Month USD LIBOR + 0.25% | Monthly | USD | 1,357 | May 2020 | MSI | — | 36 | 36 |
Receive | PRA Health Sciences, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 407,904 | May 2020 | MSI | — | 60,184 | 60,184 |
Receive | Prothena Corp. PLC | 1-Month USD LIBOR + 0.50% | Monthly | USD | 274,057 | May 2020 | MSI | — | (1,335) | (1,335) |
Receive | Prothena Corp. PLC | 1-Month USD LIBOR + 0.50% | Monthly | USD | 40,547 | May 2020 | MSI | ��� | (196) | (196) |
Receive | Prothena Corp. PLC | 1-Month USD LIBOR + 0.50% | Monthly | USD | 7,060 | May 2020 | MSI | — | (31) | (31) |
Receive | Prothena Corp. PLC | 1-Month USD LIBOR + 0.25% | Monthly | USD | 26,855 | May 2020 | MSI | — | (123) | (123) |
Receive | Prudential PLC | 1-Month GBP LIBOR + 0.50% | Monthly | GBP | 370,555 | May 2020 | MSI | — | 95,461 | 95,461 |
Receive | R1 RCM, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 468,490 | May 2020 | MSI | — | 37,827 | 37,827 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 85 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Radius Health, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 94,959 | May 2020 | MSI | — | $18,993 | $18,993 |
Receive | Radius Health, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 109,025 | May 2020 | MSI | — | 21,821 | 21,821 |
Receive | Radius Health, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 58,156 | May 2020 | MSI | — | 11,632 | 11,632 |
Receive | Radius Health, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 36,359 | May 2020 | MSI | — | 7,272 | 7,272 |
Receive | Radius Health, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 81,325 | May 2020 | MSI | — | 16,266 | 16,266 |
Receive | Radius Health, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 19,486 | May 2020 | MSI | — | 3,897 | 3,897 |
Receive | Radius Health, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 8,920 | May 2020 | MSI | — | 1,789 | 1,789 |
Receive | Radius Health, Inc. | 1-Month USD LIBOR + 0.25% | Monthly | USD | 33,682 | May 2020 | MSI | — | 6,746 | 6,746 |
Receive | Realtek Semiconductor Corp. | 1-Month USD LIBOR + 0.55% | Monthly | USD | 523,868 | May 2020 | MSI | — | 81,843 | 81,843 |
Receive | Realtek Semiconductor Corp. | 1-Month USD LIBOR + 0.55% | Monthly | USD | 291,869 | May 2020 | MSI | — | 45,354 | 45,354 |
Receive | Revance Therapeutics, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 28,253 | May 2020 | MSI | — | 7,040 | 7,040 |
Receive | Revance Therapeutics, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 12,950 | May 2020 | MSI | — | 3,234 | 3,234 |
Receive | Revance Therapeutics, Inc. | 1-Month USD LIBOR + 0.25% | Monthly | USD | 47,952 | May 2020 | MSI | — | 11,962 | 11,962 |
Receive | salesforce.com, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 2,303,324 | May 2020 | MSI | — | 90,375 | 90,375 |
Receive | Sberbank of Russia | 1-Month USD LIBOR + 1.50% | Monthly | USD | 200,927 | May 2020 | MSI | — | 14,418 | 14,418 |
Receive | Seattle Genetics, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 2,305,863 | May 2020 | MSI | — | 221,722 | 221,722 |
86 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Seattle Genetics, Inc. | 1-Month USD LIBOR + 0.25% | Monthly | USD | 653,459 | May 2020 | MSI | — | $63,002 | $63,002 |
Receive | Seattle Genetics, Inc. | 1-Month USD LIBOR + 0.25% | Monthly | USD | 653,209 | May 2020 | MSI | — | 62,978 | 62,978 |
Receive | SLM Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 88,905 | May 2020 | MSI | — | 24,220 | 24,220 |
Receive | Smith & Nephew PLC | 1-Month GBP LIBOR + 0.50% | Monthly | GBP | 710,909 | May 2020 | MSI | — | 55,523 | 55,523 |
Receive | Smith & Nephew PLC | 1-Month GBP LIBOR + 0.30% | Monthly | GBP | 1,051,224 | May 2020 | MSI | — | 79,252 | 79,252 |
Receive | Splunk, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 287,188 | May 2020 | MSI | — | 21,288 | 21,288 |
Receive | Square, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 357,723 | May 2020 | MSI | — | 21,499 | 21,499 |
Receive | SS&C Technologies Holdings, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 639,316 | May 2020 | MSI | — | 75,903 | 75,903 |
Receive | SS&C Technologies Holdings, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 73,571 | May 2020 | MSI | — | 8,649 | 8,649 |
Receive | Sterling Bancorp | 1-Month USD LIBOR + 0.25% | Monthly | USD | 175,874 | May 2020 | MSI | — | 41,612 | 41,612 |
Receive | Sterling Bancorp | 1-Month USD LIBOR + 0.25% | Monthly | USD | 242,745 | May 2020 | MSI | — | 57,434 | 57,434 |
Receive | SVB Financial Group | 1-Month USD LIBOR + 0.20% | Monthly | USD | 500,402 | May 2020 | MSI | — | 96,154 | 96,154 |
Receive | Synovus Financial Corp. | 1-Month USD LIBOR + 0.25% | Monthly | USD | 132,780 | May 2020 | MSI | — | 35,915 | 35,915 |
Receive | Synovus Financial Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 18,273 | May 2020 | MSI | — | 4,940 | 4,940 |
Receive | TCS Group Holding PLC | 1-Month USD LIBOR + 0.30% | Monthly | USD | 35,519 | May 2020 | MSI | — | 5,030 | 5,030 |
Receive | TCS Group Holding PLC | 1-Month USD LIBOR + 0.30% | Monthly | USD | 107,385 | May 2020 | MSI | — | 15,223 | 15,223 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 87 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | TCS Group Holding PLC | 1-Month USD LIBOR + 0.30% | Monthly | USD | 197,819 | May 2020 | MSI | — | $28,043 | $28,043 |
Receive | Tecan Group AG | 1-Month CHF LIBOR + 0.50% | Monthly | CHF | 53,618 | May 2020 | MSI | — | 4,022 | 4,022 |
Receive | Teleflex, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 33,435 | May 2020 | MSI | — | 427 | 427 |
Receive | Tencent Holdings, Ltd. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 16,866,500 | May 2020 | MSI | — | 119,501 | 119,501 |
Receive | Tencent Music Entertainment Group, ADR | 1-Month USD LIBOR + 0.20% | Monthly | USD | 875,930 | May 2020 | MSI | — | 45,842 | 45,842 |
Receive | T-Mobile US, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,212,821 | May 2020 | MSI | — | (11,750) | (11,750) |
Receive | T-Mobile US, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 287,401 | May 2020 | MSI | — | (2,715) | (2,715) |
Receive | Tower Semiconductor, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 35,274 | May 2020 | MSI | — | 2,680 | 2,680 |
Receive | Tower Semiconductor, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 304,406 | May 2020 | MSI | — | 23,167 | 23,167 |
Receive | Tower Semiconductor, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 68,029 | May 2020 | MSI | — | 5,168 | 5,168 |
Receive | Tower Semiconductor, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 116,572 | May 2020 | MSI | — | 8,855 | 8,855 |
Receive | Tower Semiconductor, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 13,609 | May 2020 | MSI | — | 1,034 | 1,034 |
Receive | Tower Semiconductor, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 20,414 | May 2020 | MSI | — | 1,551 | 1,551 |
Receive | Tower Semiconductor, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 34,005 | May 2020 | MSI | — | 2,583 | 2,583 |
Receive | Tower Semiconductor, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 27,219 | May 2020 | MSI | — | 2,068 | 2,068 |
Receive | Tricida, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 188,353 | May 2020 | MSI | — | 27,432 | 27,432 |
88 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Tricida, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 339,748 | May 2020 | MSI | — | $49,481 | $49,481 |
Receive | Turning Point Therapeutics, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 444,641 | May 2020 | MSI | — | 9,751 | 9,751 |
Receive | Turning Point Therapeutics, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 727,205 | May 2020 | MSI | — | 16,101 | 16,101 |
Receive | Uber Technologies, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 267,549 | May 2020 | MSI | — | 27,527 | 27,527 |
Receive | UBS Group AG | 1-Month USD LIBOR + 0.20% | Monthly | USD | 130,641 | May 2020 | MSI | — | 18,747 | 18,747 |
Receive | UCB SA | 1-Month EUR EURIBOR + 0.50% | Monthly | EUR | 21,200 | May 2020 | MSI | — | 1,027 | 1,027 |
Receive | Veracyte, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 59,198 | May 2020 | MSI | — | 12,830 | 12,830 |
Receive | Veracyte, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 594,611 | May 2020 | MSI | — | 129,204 | 129,204 |
Receive | VeriSign, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 2,189,943 | May 2020 | MSI | — | 86,100 | 86,100 |
Receive | Visa, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 3,657,261 | May 2020 | MSI | — | 276,036 | 276,036 |
Receive | WaVe Life Sciences, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 44,259 | May 2020 | MSI | — | 5,451 | 5,451 |
Receive | Western Alliance Bancorp | 1-Month USD LIBOR + 0.20% | Monthly | USD | 303,066 | May 2020 | MSI | — | 63,226 | 63,226 |
Receive | Western Alliance Bancorp | 1-Month USD LIBOR + 0.20% | Monthly | USD | 107,992 | May 2020 | MSI | — | 22,530 | 22,530 |
Receive | Western Alliance Bancorp | 1-Month USD LIBOR + 0.20% | Monthly | USD | 116,238 | May 2020 | MSI | — | 24,247 | 24,247 |
Receive | WEX, Inc. | 1-Month USD LIBOR + 0.25% | Monthly | USD | 41,647 | May 2020 | MSI | — | 8,977 | 8,977 |
Receive | WEX, Inc. | 1-Month USD LIBOR + 0.25% | Monthly | USD | 75,574 | May 2020 | MSI | — | 16,291 | 16,291 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 89 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | WEX, Inc. | 1-Month USD LIBOR + 0.25% | Monthly | USD | 83,186 | May 2020 | MSI | — | $17,945 | $17,945 |
Receive | WEX, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 10,874 | May 2020 | MSI | — | 2,345 | 2,345 |
Receive | Zealand Pharma A/S, ADR | 1-Month USD LIBOR + 0.50% | Monthly | USD | 15,818 | May 2020 | MSI | — | 1,732 | 1,732 |
Receive | Zealand Pharma A/S, ADR | 1-Month USD LIBOR + 0.25% | Monthly | USD | 26,847 | May 2020 | MSI | — | 2,944 | 2,944 |
Receive | Zimmer Biomet Holdings, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 13,765 | May 2020 | MSI | — | 1,286 | 1,286 |
Receive | Zimmer Biomet Holdings, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 430,459 | May 2020 | MSI | — | 37,787 | 37,787 |
Receive | Zimmer Biomet Holdings, Inc. | 1-Month USD LIBOR + 0.50% | Monthly | USD | 765,995 | May 2020 | MSI | — | 67,229 | 67,229 |
Receive | Zions Bancorp NA | 1-Month USD LIBOR + 0.20% | Monthly | USD | 314,160 | May 2020 | MSI | — | 40,005 | 40,005 |
Receive | Advanced Micro Devices, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 344,842 | May 2023 | MSI | — | (16,432) | (16,432) |
Receive | ANTA Sports Products, Ltd. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 10,040,800 | May 2023 | MSI | — | 79,927 | 79,927 |
Receive | ANTA Sports Products, Ltd. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 2,654,538 | May 2023 | MSI | — | 3,532 | 3,532 |
Receive | Archer-Daniels-Midland Company | 1-Month USD LIBOR + 0.20% | Monthly | USD | 642,724 | May 2023 | MSI | — | 29,616 | 29,616 |
Receive | ASML Holding NV | 1-Month USD LIBOR + 0.20% | Monthly | USD | 368,932 | May 2023 | MSI | — | 9,575 | 9,575 |
Receive | Comcast Corp., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,124,053 | May 2023 | MSI | — | 20,973 | 20,973 |
Receive | Cytokinetics, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 228,583 | May 2023 | MSI | — | (14,675) | (14,675) |
Receive | EOG Resources, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 657,856 | May 2023 | MSI | — | 34,734 | 34,734 |
90 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Facebook, Inc., Class A | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,210,475 | May 2023 | MSI | — | $189,294 | $189,294 |
Receive | Fair Isaac Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 434,254 | May 2023 | MSI | — | 60,054 | 60,054 |
Receive | Fair Isaac Corp. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 344,985 | May 2023 | MSI | — | 47,709 | 47,709 |
Receive | First Solar, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 193,708 | May 2023 | MSI | — | 13,581 | 13,581 |
Receive | First Solar, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 1,439,671 | May 2023 | MSI | — | 50,439 | 50,439 |
Receive | Global Payments, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 642,942 | May 2023 | MSI | — | 115,005 | 115,005 |
Receive | Global Payments, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 642,801 | May 2023 | MSI | — | 114,980 | 114,980 |
Receive | Intuitive Surgical, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 647,437 | May 2023 | MSI | — | (391) | (391) |
Receive | Kasikornbank PCL, NVDR | 1-Month USD LIBOR + 0.70% | Monthly | USD | 667,752 | May 2023 | MSI | — | 3,016 | 3,016 |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 73,658 | May 2023 | MSI | — | (774) | (774) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 92,857 | May 2023 | MSI | — | (975) | (975) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 6,754 | May 2023 | MSI | — | (71) | (71) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 32,078 | May 2023 | MSI | — | (337) | (337) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 72,598 | May 2023 | MSI | — | (762) | (762) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 217,795 | May 2023 | MSI | — | (2,287) | (2,287) |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 71,033 | May 2023 | MSI | — | (747) | (747) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 91 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Lifetech Scientific Corp. | 1-Month HKD HIBOR + 0.40% | Monthly | HKD | 78,033 | May 2023 | MSI | — | $(819) | $(819) |
Receive | Marvell Technology Group, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 56,286 | May 2023 | MSI | — | 3,535 | 3,535 |
Receive | Marvell Technology Group, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 82,039 | May 2023 | MSI | — | 5,154 | 5,154 |
Receive | Marvell Technology Group, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 78,493 | May 2023 | MSI | — | 4,931 | 4,931 |
Receive | Marvell Technology Group, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 115,388 | May 2023 | MSI | — | 7,249 | 7,249 |
Receive | Marvell Technology Group, Ltd. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 234,783 | May 2023 | MSI | — | 10,548 | 10,548 |
Receive | Micron Technology, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 450,185 | May 2023 | MSI | — | 13,602 | 13,602 |
Receive | Micron Technology, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 323,664 | May 2023 | MSI | — | 10,058 | 10,058 |
Receive | NanoString Technologies, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 722,944 | May 2023 | MSI | — | 137,143 | 137,143 |
Receive | Netflix, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 263,305 | May 2023 | MSI | — | (4,366) | (4,366) |
Receive | Omnicell, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 323,161 | May 2023 | MSI | — | 9,646 | 9,646 |
Receive | Pfizer, Inc. | 1-Month USD LIBOR + 0.20% | Monthly | USD | 659,330 | May 2023 | MSI | — | 43,565 | 43,565 |
Receive | Sberbank of Russia | 1-Month USD LIBOR + 1.50% | Monthly | USD | 147,139 | May 2023 | MSI | — | 9,659 | 9,659 |
Receive | Taiyo Yuden Company, Ltd. | 1-Month JPY LIBOR + 0.35% | Monthly | JPY | 58,490,749 | May 2023 | MSI | — | 11,184 | 11,184 |
$2,515 | $(12,113,497) | $(12,110,982) | ||||||||
(a)The MS Growth vs Value Index is a custom index that represents an equal notional pair trade of going long on the Morgan Stanley US Growth Long Basket and short on the Morgan Stanley US Value Long Basket. Performance reflects each side rebalanced back to equal notional at the close of each trading day. Details and components of the Morgan Stanley US Growth Long Basket and Morgan Stanley US Value Long Basket are publicly available. |
92 | JOHN HANCOCK SEAPORT LONG/SHORT FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Derivatives Currency Abbreviations | |
AUD | Australian Dollar |
CAD | Canadian Dollar |
CHF | Swiss Franc |
DKK | Danish Krone |
EUR | Euro |
GBP | Pound Sterling |
HKD | Hong Kong Dollar |
JPY | Japanese Yen |
NOK | Norwegian Krone |
NZD | New Zealand Dollar |
USD | U.S. Dollar |
ZAR | South African Rand |
Derivatives Abbreviations | |
ADR | American Depositary Receipt |
BBSW | Bank Bill Swap Rate |
CDOR | Canadian Dollar Offered Rate |
CIBOR | Copenhagen Interbank Offered Rate |
DB | Deutsche Bank AG |
EURIBOR | Euro Interbank Offered Rate |
GSI | Goldman Sachs International |
HIBOR | Hong Kong Interbank Offered Rate |
HUS | HSBC Bank USA, N.A. |
JIBAR | Johannesburg Interbank Agreed Rate |
JPM | JPMorgan Chase Bank, N.A. |
LIBOR | London Interbank Offered Rate |
MSI | Morgan Stanley & Co. International PLC |
NIBOR | Norwegian Interbank Offered Rate |
NVDR | Non-Voting Depositary Receipt |
NWM | NatWest Markets PLC |
OTC | Over-the-counter |
SCB | Standard Chartered Bank |
SSB | State Street Bank and Trust Company |
UBS | UBS AG |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK SEAPORT LONG/SHORT FUND | 93 |
Financial statements |
Assets | |
Unaffiliated investments, at value (Cost $642,789,256) | $675,505,950 |
Swap contracts, at value (net unamortized upfront payment of $(29)) | 27,874,844 |
Unrealized appreciation on forward foreign currency contracts | 478,107 |
Cash | 22,524,174 |
Foreign currency, at value (Cost $620,871) | 664,941 |
Collateral segregated at custodian for OTC derivative contracts | 10,106,000 |
Dividends and interest receivable | 949,588 |
Receivable for fund shares sold | 3,116,253 |
Receivable for investments sold | 19,649,916 |
Other assets | 69,081 |
Total assets | 760,938,854 |
Liabilities | |
Unrealized depreciation on forward foreign currency contracts | 1,017,872 |
Written options, at value (Premiums received $1,992,819) | 1,505,496 |
Swap contracts, at value (net unamortized upfront payment of $2,544) | 39,985,826 |
Payable for futures variation margin | 27,257 |
Payable for collateral on OTC derivatives | 3,103,000 |
Payable for investments purchased | 38,348,694 |
Payable for fund shares repurchased | 1,214,394 |
Payable to affiliates | |
Accounting and legal services fees | 39,443 |
Transfer agent fees | 54,715 |
Trustees' fees | 1,310 |
Other liabilities and accrued expenses | 184,694 |
Total liabilities | 85,482,701 |
Net assets | $675,456,153 |
Net assets consist of | |
Paid-in capital | $651,356,675 |
Total distributable earnings (loss) | 24,099,478 |
Net assets | $675,456,153 |
94 | JOHN HANCOCK Seaport Long/Short Fund | SEMIANNUAL 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 ($10,437,752 ÷ 959,239 shares)1 | $10.88 |
Class C ($4,772,436 ÷ 454,377 shares)1 | $10.50 |
Class I ($517,084,025 ÷ 46,617,538 shares) | $11.09 |
Class R6 ($23,666,676 ÷ 2,115,353 shares) | $11.19 |
Class NAV ($119,495,264 ÷ 10,679,803 shares) | $11.19 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $11.45 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Seaport Long/Short Fund | 95 |
Investment income | |
Interest | $2,540,501 |
Dividends | 2,516,523 |
Less foreign taxes withheld | (71,278) |
Total investment income | 4,985,746 |
Expenses | |
Investment management fees | 5,391,492 |
Distribution and service fees | 45,450 |
Accounting and legal services fees | 68,252 |
Transfer agent fees | 360,357 |
Trustees' fees | 6,606 |
Custodian fees | 129,103 |
State registration fees | 36,473 |
Printing and postage | 30,731 |
Professional fees | 62,194 |
Other | 50,362 |
Total expenses | 6,181,020 |
Less expense reductions | (26,310) |
Net expenses | 6,154,710 |
Net investment loss | (1,168,964) |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | 18,119,287 |
Futures contracts | 1,158,516 |
Forward foreign currency contracts | 674,326 |
Written options | (1,465,030) |
Swap contracts | 230,120 |
18,717,219 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | (11,057,698) |
Futures contracts | (404,313) |
Forward foreign currency contracts | (671,721) |
Written options | (66,743) |
Swap contracts | (8,135,295) |
(20,335,770) | |
Net realized and unrealized loss | (1,618,551) |
Decrease in net assets from operations | $(2,787,515) |
96 | JOHN HANCOCK Seaport Long/Short Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Six months ended 4-30-20 (unaudited) | Year ended 10-31-19 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income (loss) | $(1,168,964) | $111,891 |
Net realized gain | 18,717,219 | 7,191,577 |
Change in net unrealized appreciation (depreciation) | (20,335,770) | 35,856,213 |
Increase (decrease) in net assets resulting from operations | (2,787,515) | 43,159,681 |
Distributions to shareholders | ||
From earnings | ||
Class A | (93,501) | (537,753) |
Class C | (8,454) | (257,811) |
Class I | (6,373,467) | (17,006,375) |
Class R6 | (323,613) | (868,772) |
Class NAV | (1,626,261) | (4,069,796) |
Total distributions | (8,425,296) | (22,740,507) |
From fund share transactions | (55,430,474) | (33,287,756) |
Total decrease | (66,643,285) | (12,868,582) |
Net assets | ||
Beginning of period | 742,099,438 | 754,968,020 |
End of period | $675,456,153 | $742,099,438 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Seaport Long/Short Fund | 97 |
Financial highlights |
CLASS A SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $11.02 | $10.73 | $11.82 | $10.45 | $10.81 | $10.10 |
Net investment loss2 | (0.04) | (0.03) | (0.07) | (0.22) | (0.28) | (0.24) |
Net realized and unrealized gain (loss) on investments | —3 | 0.67 | (0.11) | 1.60 | (0.03) | 0.95 |
Total from investment operations | (0.04) | 0.64 | (0.18) | 1.38 | (0.31) | 0.71 |
Less distributions | ||||||
From net investment income | (0.10) | — | — | — | — | — |
From net realized gain | — | (0.35) | (0.91) | (0.01) | (0.05) | — |
Total distributions | (0.10) | (0.35) | (0.91) | (0.01) | (0.05) | — |
Net asset value, end of period | $10.88 | $11.02 | $10.73 | $11.82 | $10.45 | $10.81 |
Total return (%)4,5 | (0.44)6 | 6.09 | (1.57) | 13.16 | (2.94) | 7.13 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $10 | $11 | $19 | $22 | $22 | $16 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 2.007 | 1.98 | 2.008 | 3.869 | 4.229 | 3.439 |
Expenses including reductions | 1.997 | 1.97 | 1.998 | 3.859 | 4.219 | 3.289 |
Net investment loss | (0.63)7 | (0.25) | (0.61) | (1.99) | (2.71) | (2.31) |
Portfolio turnover (%) | 106 | 170 | 169 | 485 | 403 | 396 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Less than $0.005 per share. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Does not reflect the effect of sales charges, if any. |
6 | Not annualized. |
7 | Annualized. |
8 | Expense ratios have decreased due to a change in the fund's fundamental investment restrictions and the related discontinued use of prime brokerage services and their associated expenses on short sales (dividends on investments sold short and broker fees and expenses on short sales). |
9 | Includes dividends on investments sold short and broker fees and expenses on short sales for the periods ended 10-31-17, 10-31-16 and 10-31-15, which were equivalent to a net annual effective rate of 1.84%, 2.16% and 1.34%%, respectively, of the fund’s average daily net assets. |
98 | JOHN HANCOCK Seaport Long/Short Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS C SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $10.61 | $10.42 | $11.57 | $10.30 | $10.74 | $10.10 |
Net investment loss2 | (0.07) | (0.10) | (0.15) | (0.29) | (0.35) | (0.32) |
Net realized and unrealized gain (loss) on investments | (0.02) | 0.64 | (0.09) | 1.57 | (0.04) | 0.96 |
Total from investment operations | (0.09) | 0.54 | (0.24) | 1.28 | (0.39) | 0.64 |
Less distributions | ||||||
From net investment income | (0.02) | — | — | — | — | — |
From net realized gain | — | (0.35) | (0.91) | (0.01) | (0.05) | — |
Total distributions | (0.02) | (0.35) | (0.91) | (0.01) | (0.05) | — |
Net asset value, end of period | $10.50 | $10.61 | $10.42 | $11.57 | $10.30 | $10.74 |
Total return (%)3,4 | (0.90)5 | 5.39 | (2.26) | 12.38 | (3.61) | 6.34 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $5 | $6 | $10 | $12 | $16 | $9 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 2.706 | 2.68 | 2.707 | 4.568 | 4.938 | 4.348 |
Expenses including reductions | 2.696 | 2.67 | 2.697 | 4.558 | 4.928 | 4.008 |
Net investment loss | (1.33)6 | (0.99) | (1.33) | (2.66) | (3.42) | (3.04) |
Portfolio turnover (%) | 106 | 170 | 169 | 485 | 403 | 396 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Does not reflect the effect of sales charges, if any. |
5 | Not annualized. |
6 | Annualized. |
7 | Expense ratios have decreased due to a change in the fund's fundamental investment restrictions and the related discontinued use of prime brokerage services and their associated expenses on short sales (dividends on investments sold short and broker fees and expenses on short sales). |
8 | Includes dividends on investments sold short and broker fees and expenses on short sales for the periods ended 10-31-17, 10-31-16 and 10-31-15, which were equivalent to a net annual effective rate of 1.84%, 2.16% and 1.34%%, respectively, of the fund’s average daily net assets. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Seaport Long/Short Fund | 99 |
CLASS I SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $11.24 | $10.92 | $11.97 | $10.55 | $10.89 | $10.13 |
Net investment income (loss)2 | (0.02) | —3 | (0.04) | (0.19) | (0.25) | (0.21) |
Net realized and unrealized gain (loss) on investments | —3 | 0.67 | (0.10) | 1.62 | (0.04) | 0.97 |
Total from investment operations | (0.02) | 0.67 | (0.14) | 1.43 | (0.29) | 0.76 |
Less distributions | ||||||
From net investment income | (0.13) | — | — | — | — | — |
From net realized gain | — | (0.35) | (0.91) | (0.01) | (0.05) | — |
Total distributions | (0.13) | (0.35) | (0.91) | (0.01) | (0.05) | — |
Net asset value, end of period | $11.09 | $11.24 | $10.92 | $11.97 | $10.55 | $10.89 |
Total return (%)4 | (0.27)5 | 6.36 | (1.28) | 13.51 | (2.64) | 7.50 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $517 | $565 | $566 | $454 | $422 | $502 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.706 | 1.69 | 1.717 | 3.548 | 3.878 | 3.008 |
Expenses including reductions | 1.696 | 1.68 | 1.707 | 3.548 | 3.878 | 2.998 |
Net investment income (loss) | (0.34)6 | —9 | (0.36) | (1.65) | (2.40) | (2.04) |
Portfolio turnover (%) | 106 | 170 | 169 | 485 | 403 | 396 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Less than $0.005 per share. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Not annualized. |
6 | Annualized. |
7 | Expense ratios have decreased due to a change in the fund's fundamental investment restrictions and the related discontinued use of prime brokerage services and their associated expenses on short sales (dividends on investments sold short and broker fees and expenses on short sales). |
8 | Includes dividends on investments sold short and broker fees and expenses on short sales for the periods ended 10-31-17, 10-31-16 and 10-31-15, which were equivalent to a net annual effective rate of 1.84%, 2.16% and 1.34%%, respectively, of the fund’s average daily net assets. |
9 | Less than 0.005%. |
100 | JOHN HANCOCK Seaport Long/Short Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R6 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $11.34 | $11.00 | $12.04 | $10.60 | $10.93 | $10.16 |
Net investment income (loss)2 | (0.01) | 0.01 | (0.03) | (0.19) | (0.24) | (0.22) |
Net realized and unrealized gain (loss) on investments | —3 | 0.68 | (0.10) | 1.64 | (0.04) | 0.99 |
Total from investment operations | (0.01) | 0.69 | (0.13) | 1.45 | (0.28) | 0.77 |
Less distributions | ||||||
From net investment income | (0.14) | — | — | — | — | — |
From net realized gain | — | (0.35) | (0.91) | (0.01) | (0.05) | — |
Total distributions | (0.14) | (0.35) | (0.91) | (0.01) | (0.05) | — |
Net asset value, end of period | $11.19 | $11.34 | $11.00 | $12.04 | $10.60 | $10.93 |
Total return (%)4 | (0.16)5 | 6.50 | (1.19) | 13.64 | (2.54) | 7.58 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $24 | $27 | $30 | $9 | $5 | $—6 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.587 | 1.58 | 1.608 | 3.459 | 4.049 | 5.999 |
Expenses including reductions | 1.587 | 1.57 | 1.608 | 3.449 | 4.019 | 3.039 |
Net investment income (loss) | (0.22)7 | 0.12 | (0.23) | (1.57) | (2.34) | (2.05) |
Portfolio turnover (%) | 106 | 170 | 169 | 485 | 403 | 396 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Less than $0.005 per share. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Not annualized. |
6 | Less than $500,000. |
7 | Annualized. |
8 | Expense ratios have decreased due to a change in the fund's fundamental investment restrictions and the related discontinued use of prime brokerage services and their associated expenses on short sales (dividends on investments sold short and broker fees and expenses on short sales). |
9 | Includes dividends on investments sold short and broker fees and expenses on short sales for the periods ended 10-31-17, 10-31-16 and 10-31-15, which were equivalent to a net annual effective rate of 1.84%, 2.16% and 1.34%%, respectively, of the fund’s average daily net assets. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Seaport Long/Short Fund | 101 |
CLASS NAV SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-15 |
Per share operating performance | ||||||
Net asset value, beginning of period | $11.35 | $11.00 | $12.04 | $10.60 | $10.93 | $10.16 |
Net investment income (loss)2 | (0.01) | 0.01 | (0.03) | (0.17) | (0.24) | (0.20) |
Net realized and unrealized gain (loss) on investments | (0.01) | 0.69 | (0.10) | 1.62 | (0.04) | 0.97 |
Total from investment operations | (0.02) | 0.70 | (0.13) | 1.45 | (0.28) | 0.77 |
Less distributions | ||||||
From net investment income | (0.14) | — | — | — | — | — |
From net realized gain | — | (0.35) | (0.91) | (0.01) | (0.05) | — |
Total distributions | (0.14) | (0.35) | (0.91) | (0.01) | (0.05) | — |
Net asset value, end of period | $11.19 | $11.35 | $11.00 | $12.04 | $10.60 | $10.93 |
Total return (%)3 | (0.23)4 | 6.59 | (1.19) | 13.64 | (2.54) | 7.58 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $119 | $134 | $130 | $152 | $185 | $230 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.575 | 1.56 | 1.596 | 3.447 | 3.787 | 2.997 |
Expenses including reductions | 1.565 | 1.55 | 1.586 | 3.437 | 3.777 | 2.997 |
Net investment income (loss) | (0.19)5 | 0.13 | (0.23) | (1.54) | (2.30) | (1.82) |
Portfolio turnover (%) | 106 | 170 | 169 | 485 | 403 | 396 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
4 | Not annualized. |
5 | Annualized. |
6 | Expense ratios have decreased due to a change in the fund's fundamental investment restrictions and the related discontinued use of prime brokerage services and their associated expenses on short sales (dividends on investments sold short and broker fees and expenses on short sales). |
7 | Includes dividends on investments sold short and broker fees and expenses on short sales for the periods ended 10-31-17, 10-31-16 and 10-31-15, which were equivalent to a net annual effective rate of 1.84%, 2.16% and 1.34%%, respectively, of the fund’s average daily net assets. |
102 | JOHN HANCOCK Seaport Long/Short Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Notes to financial statements (unaudited) |
SEMIANNUAL REPORT | JOHN HANCOCK Seaport Long/Short Fund | 103 |
Total value at 4-30-20 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Communication services | $21,025,741 | $10,491,140 | $10,534,601 | — |
Consumer discretionary | 29,796,411 | 21,010,721 | 8,785,690 | — |
Consumer staples | 763,977 | 751,830 | 12,147 | — |
Energy | 11,355,456 | 10,198,353 | 1,157,103 | — |
Financials | 82,394,764 | 51,050,616 | 31,344,148 | — |
Health care | 113,790,302 | 79,769,894 | 34,008,008 | $12,400 |
Industrials | 40,384,136 | 20,376,581 | 20,007,555 | — |
Information technology | 82,204,177 | 65,691,015 | 16,513,162 | — |
Materials | 3,088,053 | 2,491,856 | 596,197 | — |
Real estate | 9,116,801 | 2,667,251 | 6,449,550 | — |
Utilities | 11,916,963 | 2,418,621 | 9,498,342 | — |
104 | JOHN HANCOCK Seaport Long/Short Fund | SEMIANNUAL REPORT |
Total value at 4-30-20 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Preferred securities | $54,485 | $54,485 | — | — |
Corporate bonds | 25,516,769 | — | $25,516,769 | — |
Purchased options | 4,950,019 | 3,284,073 | 1,665,946 | — |
Short-term investments | 239,147,896 | 157,853,663 | 81,294,233 | — |
Total investments in securities | $675,505,950 | $428,110,099 | $247,383,451 | $12,400 |
Derivatives: | ||||
Assets | ||||
Forward foreign currency contracts | $478,107 | — | $478,107 | — |
Swap contracts | 27,874,844 | — | 27,874,844 | — |
Liabilities | ||||
Futures | (404,313) | $(404,313) | — | — |
Forward foreign currency contracts | (1,017,872) | — | (1,017,872) | — |
Written options | (1,505,496) | (1,175,498) | (329,998) | — |
Swap contracts | (39,985,826) | — | (39,985,826) | — |
SEMIANNUAL REPORT | JOHN HANCOCK Seaport Long/Short Fund | 105 |
106 | JOHN HANCOCK Seaport Long/Short Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Seaport Long/Short Fund | 107 |
108 | JOHN HANCOCK Seaport Long/Short Fund | SEMIANNUAL REPORT |
Risk | Statement of assets and liabilities location | Financial instruments location | Assets derivatives fair value | Liabilities derivatives fair value |
Equity | Receivable/payable for futures variation margin | Futures1 | — | $(404,313) |
SEMIANNUAL REPORT | JOHN HANCOCK Seaport Long/Short Fund | 109 |
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 | $478,107 | (1,017,872) |
Currency | Unaffiliated investments, at value2 | Purchased options | 1,383,560 | — |
Equity | Unaffiliated investments, at value2 | Purchased options | 3,566,459 | — |
Currency | Written options, at value | Written options | — | (9,089) |
Equity | Written options, at value | Written options | — | (1,496,407) |
Equity | Swap contracts, at value | Total return swaps | 27,874,844 | (39,985,826) |
$33,302,970 | $(42,913,507) |
1 | Reflects cumulative appreciation/depreciation on futures as disclosed in Fund's investments. Only the period end variation margin is separately disclosed on the Statement of assets and liabilities. |
2 | Purchased options are included in Fund's investments. |
OTC Financial Instruments | Asset | Liability |
Forward foreign currency contracts | $478,107 | $(1,017,872) |
Purchased options | 1,665,946 | — |
Swap contracts | 27,874,844 | (39,985,826) |
Written options | — | (329,998) |
Totals | $30,018,897 | $(41,333,696) |
Counterparty | Total Market Value of OTC Derivatives | Collateral Posted by Counterparty | Collateral Posted by Fund | Net Exposure |
BNP Paribas SA | $268,793 | $90,000 | $112,984 | $291,777 |
Deutsche Bank AG | (593,544) | — | 593,544 | — |
Goldman Sachs International | (688,600) | 1,733,000 | 2,421,600 | — |
HSBC Bank USA, N.A. | 35,334 | 30,000 | — | 5,334 |
JPMorgan Chase Bank, N.A. | (6,065,000) | — | 6,065,000 | — |
Morgan Stanley & Co. International PLC | (4,213,086) | 1,250,000 | 5,463,086 | — |
NatWest Markets PLC | (71,272) | — | 71,272 | — |
Standard Chartered Bank | 22,507 | — | 65,962 | 88,469 |
State Street Bank and Trust Company | (9,931) | — | — | (9,931) |
Totals | ($11,314,799) | $3,103,000 | $14,793,448 | $375,649 |
110 | JOHN HANCOCK Seaport Long/Short Fund | SEMIANNUAL REPORT |
Statement of operations location - Net realized gain (loss) on: | ||||||
Risk | Unaffiliated investments and foreign currency transactions1 | Futures contracts | Forward foreign currency contracts | Written options | Swap contracts | Total |
Interest rate | $955,403 | — | — | — | — | $955,403 |
Currency | 1,623,009 | — | $674,326 | $(143,539) | — | 2,153,796 |
Equity | 16,657,296 | $1,158,516 | — | (1,321,491) | $230,120 | 16,724,441 |
Total | $19,235,708 | $1,158,516 | $674,326 | $(1,465,030) | $230,120 | $19,833,640 |
1 | Realized gain/loss associated with purchased options is included in this caption on the Statement of operations. |
Statement of operations location - Change in net unrealized appreciation (depreciation) of: | ||||||
Risk | Unaffiliated investments and translation of assets and liabilities in foreign currencies1 | Futures contracts | Forward foreign currency contracts | Written options | Swap contracts | Total |
Currency | $(160,067) | — | $(671,721) | $(5,543) | — | $(837,331) |
Equity | (514,912) | $(404,313) | — | (61,200) | $(8,135,295) | (9,115,720) |
Total | $(674,979) | $(404,313) | $(671,721) | $(66,743) | $(8,135,295) | $(9,953,051) |
1 | Change in unrealized appreciation/depreciation associated with purchased options is included in this caption on the Statement of operations. |
SEMIANNUAL REPORT | JOHN HANCOCK Seaport Long/Short Fund | 111 |
Class | Expense reduction |
Class A | $397 |
Class C | 207 |
Class I | 19,888 |
Class | Expense reduction |
Class R6 | $908 |
Class NAV | 4,910 |
Total | $26,310 |
Class | Rule 12b-1 Fee |
Class A | 0.30% |
Class C | 1.00% |
112 | JOHN HANCOCK Seaport Long/Short Fund | SEMIANNUAL REPORT |
Class | Distribution and service fees | Transfer agent fees |
Class A | $16,661 | $6,966 |
Class C | 28,789 | 3,609 |
Class I | — | 348,109 |
Class R6 | — | 1,673 |
Total | $45,450 | $360,357 |
Six Months Ended 4-30-20 | Year Ended 10-31-19 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 270,540 | $3,000,998 | 758,504 | $8,251,737 |
Distributions reinvested | 7,681 | 87,789 | 36,135 | 370,741 |
Repurchased | (328,933) | (3,630,491) | (1,525,242) | (16,338,187) |
Net decrease | (50,712) | $(541,704) | (730,603) | $(7,715,709) |
Class C shares | ||||
Sold | 27,518 | $300,104 | 73,035 | $769,935 |
Distributions reinvested | 703 | 7,781 | 24,067 | 239,230 |
Repurchased | (144,755) | (1,518,658) | (471,676) | (4,894,596) |
Net decrease | (116,534) | $(1,210,773) | (374,574) | $(3,885,431) |
SEMIANNUAL REPORT | JOHN HANCOCK Seaport Long/Short Fund | 113 |
Six Months Ended 4-30-20 | Year Ended 10-31-19 | |||
Shares | Amount | Shares | Amount | |
Class I shares | ||||
Sold | 11,070,920 | $123,690,985 | 19,770,705 | $216,982,492 |
Distributions reinvested | 491,605 | 5,722,284 | 1,546,541 | 16,145,884 |
Repurchased | (15,173,307) | (170,005,890) | (22,937,508) | (249,609,059) |
Net decrease | (3,610,782) | $(40,592,621) | (1,620,262) | $(16,480,683) |
Class R6 shares | ||||
Sold | 22,290 | $255,099 | 125,178 | $1,397,683 |
Distributions reinvested | 25,488 | 298,970 | 76,177 | 802,145 |
Repurchased | (270,640) | (3,202,015) | (626,222) | (7,038,333) |
Net decrease | (222,862) | $(2,647,946) | (424,867) | $(4,838,505) |
Class NAV shares | ||||
Sold | 1,862,282 | $22,255,262 | 1,349,204 | $14,883,002 |
Distributions reinvested | 138,641 | 1,626,261 | 386,495 | 4,069,796 |
Repurchased | (3,106,391) | (34,318,953) | (1,759,886) | (19,320,226) |
Net decrease | (1,105,468) | $(10,437,430) | (24,187) | $(367,428) |
Total net decrease | (5,106,358) | $(55,430,474) | (3,174,493) | $(33,287,756) |
Fund | Affiliated Concentration |
John Hancock Funds II Alternative Asset Allocation Fund | 10.2% |
114 | JOHN HANCOCK Seaport Long/Short Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Seaport Long/Short Fund | 115 |
STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT
Operation of the Liquidity Risk Management Program
This section describes operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock Seaport Long/Short Fund, subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Fund's subadvisor, Wellington Management Company LLP (the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.
The Committee holds monthly meetings to: (1) review the day-to-day operations of the LRMP; (2) review and approve month end liquidity classifications; (3) review quarterly testing and determinations, as applicable; and (4) review other LRMP related material. The Committee also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Committee may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity and valuation issues.
The Committee provided the Board at a meeting held on March 15-17, 2020 with a written report which addressed the Committee's assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period December 1, 2018 through December 31, 2019, included an assessment of important aspects of the LRMP including, but not limited to:
• Operation of the Fund's Redemption-In-Kind Procedures;
• Highly Liquid Investment Minimum (HLIM) determination;
• Compliance with the 15% limit on illiquid investments;
• Reasonably Anticipated Trade Size (RATS) determination;
• Security-level liquidity classifications; and
• Liquidity risk assessment.
The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee's actions to address such matters.
Redemption-In-Kind Procedures
Rule 22e-4 requires any fund that engages in or reserves the right to engage in in-kind redemptions to adopt and implement written policies and procedures regarding in-kind redemptions as part of the management of its liquidity risk. These procedures address the process for redeeming in kind, as well as the circumstances under which the Fund would consider redeeming in kind. Anticipated large redemption activity will be evaluated to identify situations where redeeming in securities instead of cash may be appropriate.
As part of its annual assessment of the LRMP, the Committee reviewed the implementation and operation of the Redemption-In-Kind Procedures and determined they are operating in a manner that such procedures are adequate and effective to manage in-kind redemptions on behalf of the Fund as part of the LRMP.
Highly Liquid Investment Minimum determination
The Committee uses an HLIM model to determine a Fund's HLIM. This process incorporates the Fund's investment strategy, historical redemptions, liquidity classification rollup percentages and cash balances, redemption policy, access to funding sources, distribution channels and client concentrations. If the Fund falls below its established HLIM for a period greater than 7 consecutive calendar days, the Committee prepares a report to the Board within one business day following the seventh consecutive calendar day with an explanation of how the Fund plans to restore its HLIM within a reasonable period of time.
Based on the HLIM model, the Committee has determined that the Fund qualifies as a Primarily Highly Liquid Fund (PHLF). It is therefore not required to establish a HLIM. The Fund is tested quarterly to confirm its PHLF status.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to HLIM and PHLF determinations, and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Compliance with the 15% limit on illiquid investments
Rule 22e-4 sets an aggregate illiquid investment limit of 15% for a fund. Funds are prohibited from acquiring an illiquid investment if this results in greater than 15% of its net assets being classified as illiquid. When applying this limit, the Committee defines "illiquid investment" to mean any investment that the Fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. If a 15% illiquid investment limit breach occurs for longer than 1 business day, the Fund is required to notify the Board and provide a plan on how to bring illiquid investments within the 15% threshold, and after 7 days confidentially notify the Securities and Exchange Commission (the SEC).
In February 2019, as a result of extended security markets closures in connection with the Chinese New Year in certain countries, the SEC released guidance, and the Committee approved and adopted an Extended Market Holiday Policy to plan for and monitor known Extended Market Holidays (defined as all expected market holiday closures spanning four or more calendar days).
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to the 15% illiquid investment limit and determined such policies and procedures are operating in a manner that is adequate and effective as part of the LMRP.
Reasonably Anticipated Trade Size determination
In order to assess the liquidity risk of a Fund, the Committee considers the impact on the Fund that redemptions of a RATS would have under both normal and reasonably foreseeable stressed conditions. Modelling the Fund's RATS requires quantifying cash flow volatility and analyzing distribution channel concentration and redemption risk. The model is designed to estimate the amount of assets that the Fund could reasonably anticipate trading on a given day, during both normal and reasonably foreseeable stressed conditions, to satisfy redemption requests.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to RATS determinations and determined that such policies and procedures are operating in a manner that is adequate and effective at making RATS determinations as part of the LRMP.
Security-level liquidity classifications
When classifying the liquidity of portfolio securities, the Fund adheres to the liquidity classification procedures established by the Advisor. In assigning a liquidity classification to Fund portfolio holdings, the following key inputs, among others, are considered: the Fund's RATS, feedback from the applicable Subadvisor on market-, trading- and investment-specific considerations, an assessment of current market conditions and fund portfolio holdings, and a value impact standard. The Subadvisor also provides position-level data to the Committee for use in monthly classification reconciliation in order to identify any classifications that may need to be changed as a result of the above considerations.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to security-level liquidity classifications and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Liquidity risk assessment
The Committee periodically reviews and assesses, the Fund's liquidity risk, including its investment strategy and liquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions (including whether the investment strategy is appropriate for an open-end fund, the extent to which the strategy involves a relatively concentrated portfolio or large positions in particular issuers, and the use of borrowings for investment purposes and derivatives), cash flow analysis during both normal and reasonably foreseeable stressed conditions, and holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.
The Committee also monitors global events, such as the COVID-19 Coronavirus, that could impact the markets and liquidity of portfolio investments and their classifications.
As part of its annual assessment of the LRMP, the Committee reviewed Fund-Level Liquidity Risk Assessment Reports for each of the Funds and determined that the investment strategy for each Fund continues to be appropriate for an open-ended structure.
Adequacy and Effectiveness
Based on the review and assessment conducted by the Committee, the Committee has determined that the LRMP has been implemented, and is operating in a manner that is adequate and effective at assessing and managing the liquidity risk of each Fund.
Trustees Hassell H. McClellan,Chairperson Officers Andrew G. Arnott Francis V. Knox, Jr. Charles A. Rizzo Salvatore Schiavone Christopher (Kit) Sechler * Member of the Audit Committee | Investment advisor John Hancock Investment Management LLC Subadvisor Wellington Management Company LLP Portfolio Managers Steven C. Angeli, CFA Principal distributor John Hancock Investment Management Distributors LLC Custodian State Street Bank and Trust Company Transfer agent John Hancock Signature Services, Inc. Legal counsel K&L Gates LLP 1 Effective July 1, 2020, John F. Averill, CFA will no longer serve as a portfolio manager of the fund. |
The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund's holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund's Form N-PORT filings are available on our website and the SEC's website, sec.gov.
We make this information on your fund, as well asmonthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
You can also contact us: | |||
800-225-5291 jhinvestments.com | Regular mail: John Hancock Signature Services, Inc. | Express mail: John Hancock Signature Services, Inc. |
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John Hancock Investment Management
A trusted brand
John Hancock Investment Management is a premier asset manager
representing one of America's most trusted brands, with a heritage of
financial stewardship dating back to 1862. Helping our shareholders
pursue their financial goals is at the core of everything we do. It's why
we support the role of professional financial advice and operate with
the highest standards of conduct and integrity.
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We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
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Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world's best
managers, along with strong risk-adjusted returns across asset classes.
John Hancock Investment Management Distributors LLC n Member FINRA, SIPC
200 Berkeley Street n Boston, MA 02116-5010 n 800-225-5291 n jhinvestments.com
This report is for the information of the shareholders of John Hancock Seaport Long/Short Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF1182634 | 437SA 4/20 6/2020 |
John Hancock
Disciplined Value International Fund
Semiannual report 4/30/2020
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the fund's shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change, and you do not need to take any action. You may elect to receive shareholder reports and other communications electronically by calling John Hancock Investment Management at 800-225-5291 (Class A and Class C shares) or 888-972-8696 (Class I, Class R2, Class R4 and Class R6 shares) or by contacting your financial intermediary.
You may elect to receive all reports in paper, free of charge, at any time. You can inform John Hancock Investment Management or your financial intermediary that you wish to continue receiving paper copies of your shareholder reports by following the instructions listed above. Your election to receive reports in paper will apply to all funds held with John Hancock Investment Management or your financial intermediary.
A message to shareholders
Dear shareholder,
Global financial markets were on pace to deliver strong returns during the 6 months ended April 30, 2020, until heightened fears over the coronavirus (COVID-19) sent markets tumbling during the latter half of February and early March.In response to the sell-off, governments and banks in some of the hardest hit areas throughout the world enacted policies and stimulus efforts designed to reignite their respective economies. While these measures helped lift equity and fixed-income markets in the United States during the final six weeks of the period, results were mixed in other areas of the world.
The continued spread of COVID-19, trade disputes, rising unemployment, and other geopolitical tensions may continue to create uncertainty among businesses and investors. Your financial professional can helpposition your portfolio so that it's sufficiently diversified to seek to meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I'd like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you've placed in us.
Sincerely,
Andrew G. Arnott
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO's views as of this report's period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
Disciplined Value International Fund
INVESTMENT OBJECTIVE
The fund seeks long-term capital growth.
AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2020 (%)
The MSCI EAFE Index (Europe, Australasia, Far East) is a free-float-adjusted market-capitalization-weighted index that is designed to measure developed market equity performance.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower. Since inception returns for the Morningstar fund category average are not available.
1 | The fund is the successor to Robeco Boston Partners International Equity Fund (predecessor fund) and Class A, Class C, Class I, Class R2, Class R4, and Class R6 shares were first offered on 9-29-14. Class NAV shares were first offered on 4-13-15. Returns prior to this date are those of the predecessor fund's institutional class shares, that have not been adjusted for class-specific expenses; otherwise, returns would vary. |
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus. The fund recently experienced negative short-term performance due to market volatility associated with the COVID-19 pandemic.
SECTOR COMPOSITION AS OF 4/30/2020 (%)
TOP 10 HOLDINGS AS OF 4/30/2020 (%)
Novartis AG | 3.0 |
Hitachi, Ltd. | 2.4 |
Roche Holding AG | 2.3 |
Sony Corp. | 2.2 |
Capgemini SE | 2.0 |
Yamana Gold, Inc. | 1.9 |
TOTAL SA | 1.8 |
Allianz SE | 1.8 |
Barrick Gold Corp. | 1.8 |
Sanofi | 1.8 |
TOTAL | 21.0 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
TOP 10 COUNTRIES AS OF 4/30/2020 (%)
Japan | 22.5 |
United Kingdom | 14.9 |
France | 12.4 |
Switzerland | 8.2 |
Germany | 5.9 |
South Korea | 4.5 |
Netherlands | 4.4 |
Canada | 4.3 |
Hong Kong | 2.6 |
Sweden | 1.7 |
TOTAL | 81.4 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
A note about risks
The fund may be subject to various risks as described in the fund's prospectus. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange trading suspensions and closures, impact the ability to complete redemptions, and affect fund performance. For example, the novel coronavirus disease (COVID-19) has resulted in significant disruptions to global business activity. The impact of a health crisis and other epidemics and pandemics that may arise in the future, could affect the global economy in ways that cannot necessarily be foreseen at the present time. A health crisis may exacerbate other pre-existing political, social, and economic risks. Any such impact could adversely affect the funds' performance, resulting in losses to your investment. For more information, please refer to the "Principal risks" section of the prospectus.
TOTAL RETURNS FOR THE PERIOD ENDED APRIL 30, 2020
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | ||||||
1-year | 5-year | Since inception1 | 6-month | 5-year | Since inception1 | ||
Class A2 | -20.89 | -4.40 | 2.92 | -21.28 | -20.15 | 27.14 | |
Class C2 | -18.15 | -4.10 | 3.08 | -18.28 | -18.87 | 28.74 | |
Class I2,3 | -16.51 | -3.11 | 3.77 | -17.06 | -14.62 | 36.15 | |
Class R22,3 | -16.87 | -3.49 | 3.51 | -17.21 | -16.27 | 33.30 | |
Class R42,3 | -16.65 | -3.25 | 3.68 | -17.13 | -15.24 | 35.12 | |
Class R62,3 | -16.43 | -3.01 | 3.85 | -16.98 | -14.16 | 36.98 | |
Class NAV2,3 | -16.45 | -3.03 | 3.83 | -17.06 | -14.24 | 36.85 | |
Index† | -11.34 | -0.17 | 5.01 | -14.21 | -0.83 | 50.31 |
Performance figures assume all distributions have been reinvested. Figures reflect maximum sales charges on Class A shares of 5% and the applicable contingent deferred sales charge (CDSC) on Class C shares. Class C shares sold within one year of purchase are subject to a 1% CDSC. Sales charges are not applicable to Class I, Class R2, Class R4, Class R6, and Class NAV shares.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectuses for the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until February 28, 2021 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Class A | Class C | Class I | Class R2 | Class R4 | Class R6 | Class NAV | |
Gross (%) | 1.23 | 1.98 | 0.98 | 1.37 | 1.22 | 0.87 | 0.86 |
Net (%) | 1.22 | 1.97 | 0.97 | 1.36 | 1.11 | 0.86 | 0.85 |
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.
The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.
The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.
† | Index is the MSCI EAFE Index. |
See the following page for footnotes.
This chart and table show what happened to a hypothetical $10,000 investment in John Hancock Disciplined Value International Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in the MSCI EAFE Index.
Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class C2,4 | 12-30-11 | 12,874 | 12,874 | 15,031 |
Class I2,3 | 12-30-11 | 13,615 | 13,615 | 15,031 |
Class R22,3 | 12-30-11 | 13,330 | 13,330 | 15,031 |
Class R42,3 | 12-30-11 | 13,512 | 13,512 | 15,031 |
Class R62,3 | 12-30-11 | 13,698 | 13,698 | 15,031 |
Class NAV2,3 | 12-30-11 | 13,685 | 13,685 | 15,031 |
The MSCI EAFE Index (Europe, Australasia, Far East) is a free-float-adjusted market capitalization index that is designed to measure developed market equity performance.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Footnotes related to performance pages
Your expenses |
SEMIANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE INTERNATIONAL FUND | 7 |
Account value on 11-1-2019 | Ending value on 4-30-2020 | Expenses paid during period ended 4-30-20201 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $828.60 | $5.59 | 1.23% |
Hypothetical example | 1,000.00 | 1,018.70 | 6.17 | 1.23% | |
Class C | Actual expenses/actual returns | 1,000.00 | 825.30 | 8.99 | 1.98% |
Hypothetical example | 1,000.00 | 1,015.00 | 9.92 | 1.98% | |
Class I | Actual expenses/actual returns | 1,000.00 | 829.40 | 4.46 | 0.98% |
Hypothetical example | 1,000.00 | 1,020.00 | 4.92 | 0.98% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 827.90 | 6.00 | 1.32% |
Hypothetical example | 1,000.00 | 1,018.30 | 6.62 | 1.32% | |
Class R4 | Actual expenses/actual returns | 1,000.00 | 828.70 | 5.09 | 1.12% |
Hypothetical example | 1,000.00 | 1,019.30 | 5.62 | 1.12% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 830.20 | 3.96 | 0.87% |
Hypothetical example | 1,000.00 | 1,020.50 | 4.37 | 0.87% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 829.40 | 3.91 | 0.86% |
Hypothetical example | 1,000.00 | 1,020.60 | 4.32 | 0.86% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period). |
8 | JOHN HANCOCK DISCIPLINED VALUE INTERNATIONAL FUND | SEMIANNUAL REPORT |
Fund’s investments |
Shares | Value | ||||
Common stocks 96.7% | $1,461,740,265 | ||||
(Cost $1,642,953,957) | |||||
Belgium 0.4% | 5,751,165 | ||||
KBC Group NV | 106,030 | 5,751,165 | |||
Bermuda 1.2% | 18,094,233 | ||||
Axis Capital Holdings, Ltd. | 190,426 | 6,969,592 | |||
Everest Re Group, Ltd. | 64,256 | 11,124,641 | |||
Canada 4.3% | 65,000,209 | ||||
Barrick Gold Corp. | 1,033,489 | 26,602,903 | |||
Fairfax Financial Holdings, Ltd. | 33,965 | 9,209,433 | |||
Yamana Gold, Inc. | 6,236,725 | 29,187,873 | |||
China 0.4% | 5,770,900 | ||||
Topsports International Holdings, Ltd. (A) | 4,565,000 | 5,770,900 | |||
Denmark 1.7% | 25,076,426 | ||||
Novo Nordisk A/S, B Shares | 393,109 | 25,076,426 | |||
Finland 1.5% | 23,314,946 | ||||
Sampo OYJ, A Shares | 703,371 | 23,314,946 | |||
France 12.4% | 186,995,976 | ||||
AXA SA | 950,019 | 16,888,006 | |||
BNP Paribas SA (B) | 683,950 | 21,487,193 | |||
Capgemini SE | 323,190 | 30,383,337 | |||
Danone SA | 194,773 | 13,575,099 | |||
Eiffage SA | 268,361 | 21,930,940 | |||
Peugeot SA | 632,842 | 8,970,939 | |||
Sanofi (C) | 272,159 | 26,582,784 | |||
TOTAL SA | 785,592 | 27,882,524 | |||
Vinci SA | 235,531 | 19,295,154 | |||
Germany 5.9% | 88,480,740 | ||||
adidas AG | 26,220 | 6,002,607 | |||
Allianz SE | 147,698 | 27,181,048 | |||
Bayer AG | 137,193 | 9,023,095 | |||
Brenntag AG | 251,500 | 11,387,398 | |||
Rheinmetall AG | 100,589 | 6,807,780 | |||
SAP SE | 85,114 | 10,137,686 | |||
Siemens AG | 194,414 | 17,941,126 | |||
Greece 0.6% | 8,860,310 | ||||
Hellenic Telecommunications Organization SA | 670,652 | 8,860,310 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE INTERNATIONAL FUND | 9 |
Shares | Value | ||||
Hong Kong 2.6% | $39,189,777 | ||||
China Overseas Land & Investment, Ltd. | 2,998,000 | 11,074,449 | |||
CK Asset Holdings, Ltd. | 2,432,500 | 15,370,336 | |||
WH Group, Ltd. (A) | 13,363,000 | 12,744,992 | |||
Hungary 0.7% | 11,198,724 | ||||
OTP Bank NYRT | 378,131 | 11,198,724 | |||
India 0.5% | 8,023,868 | ||||
HDFC Bank, Ltd., ADR | 185,095 | 8,023,868 | |||
Indonesia 0.8% | 12,861,420 | ||||
Bank Rakyat Indonesia Persero Tbk PT | 70,710,900 | 12,861,420 | |||
Ireland 1.2% | 18,910,598 | ||||
CRH PLC | 627,207 | 18,910,598 | |||
Italy 1.6% | 24,078,670 | ||||
Enel SpA | 1,717,853 | 11,733,698 | |||
Leonardo SpA | 1,787,550 | 12,344,972 | |||
Japan 22.5% | 340,949,847 | ||||
Bandai Namco Holdings, Inc. | 180,200 | 9,003,948 | |||
Fuji Corp. | 634,200 | 10,618,590 | |||
Hitachi Construction Machinery Company, Ltd. | 303,300 | 7,116,093 | |||
Hitachi, Ltd. | 1,223,300 | 36,306,839 | |||
Kamigumi Company, Ltd. | 362,000 | 6,373,173 | |||
KDDI Corp. | 568,600 | 16,469,083 | |||
Kinden Corp. | 490,200 | 7,887,852 | |||
Koito Manufacturing Company, Ltd. | 200,600 | 7,556,151 | |||
Kurita Water Industries, Ltd. | 272,900 | 7,613,602 | |||
Mitsubishi Estate Company, Ltd. | 616,600 | 9,975,434 | |||
NEC Corp. | 413,700 | 15,875,647 | |||
Nintendo Company, Ltd. | 22,900 | 9,455,959 | |||
Nippon Telegraph & Telephone Corp. | 1,025,800 | 23,361,196 | |||
Persol Holdings Company, Ltd. | 702,400 | 8,078,140 | |||
Ricoh Company, Ltd. | 536,100 | 3,654,319 | |||
Sankyu, Inc. | 277,600 | 10,667,569 | |||
Sanwa Holdings Corp. | 1,959,000 | 15,201,267 | |||
Seven & i Holdings Company, Ltd. | 300,100 | 9,938,425 | |||
Shionogi & Company, Ltd. | 270,700 | 14,950,089 | |||
SoftBank Group Corp. | 137,700 | 5,902,180 | |||
Sony Corp. | 528,400 | 34,004,693 | |||
Sumitomo Mitsui Financial Group, Inc. | 436,000 | 11,465,591 | |||
Taiheiyo Cement Corp. | 590,200 | 11,586,128 | |||
Taisei Corp. | 317,700 | 9,903,374 | |||
Taiyo Yuden Company, Ltd. | 270,600 | 7,545,072 | |||
Tokio Marine Holdings, Inc. | 155,800 | 7,309,466 |
10 | JOHN HANCOCK DISCIPLINED VALUE INTERNATIONAL FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Japan (continued) | |||||
TS Tech Company, Ltd. | 290,800 | $7,884,967 | |||
Zenkoku Hosho Company, Ltd. | 523,200 | 15,245,000 | |||
Macau 0.7% | 10,442,756 | ||||
Wynn Macau, Ltd. | 6,047,200 | 10,442,756 | |||
Netherlands 4.4% | 66,403,299 | ||||
ING Groep NV | 2,554,975 | 14,314,976 | |||
Koninklijke Ahold Delhaize NV | 762,933 | 18,524,269 | |||
Koninklijke KPN NV (C) | 4,150,716 | 9,560,514 | |||
NXP Semiconductors NV | 121,319 | 12,079,737 | |||
Royal Dutch Shell PLC, A Shares | 724,224 | 11,923,803 | |||
Norway 0.8% | 12,756,685 | ||||
DNB ASA | 1,053,583 | 12,756,685 | |||
Singapore 1.1% | 17,011,610 | ||||
DBS Group Holdings, Ltd. | 542,300 | 7,635,100 | |||
United Overseas Bank, Ltd. | 656,200 | 9,376,510 | |||
South Korea 4.5% | 67,471,990 | ||||
GS Retail Company, Ltd. | 124,657 | 3,884,136 | |||
Hana Financial Group, Inc. | 636,950 | 14,540,298 | |||
KB Financial Group, Inc. | 438,632 | 12,549,833 | |||
KT Corp., ADR | 1,783,725 | 17,498,342 | |||
Samsung Electronics Company, Ltd. | 462,075 | 18,999,381 | |||
Spain 1.0% | 15,356,752 | ||||
Amadeus IT Group SA | 159,693 | 7,622,538 | |||
Applus Services SA | 1,178,860 | 7,734,214 | |||
Sweden 1.7% | 25,830,692 | ||||
Husqvarna AB, B Shares | 2,145,673 | 12,911,135 | |||
Loomis AB, B Shares | 275,042 | 6,707,103 | |||
Sandvik AB (B) | 403,841 | 6,212,454 | |||
Switzerland 8.2% | 123,403,381 | ||||
Glencore PLC (B) | 6,145,504 | 11,513,228 | |||
Novartis AG | 539,777 | 46,063,734 | |||
Roche Holding AG | 101,706 | 35,220,518 | |||
SIG Combibloc Group AG (B) | 358,437 | 5,805,514 | |||
STMicroelectronics NV | 494,919 | 12,744,883 | |||
UBS Group AG (B) | 1,125,894 | 12,055,504 | |||
Taiwan 0.5% | 7,406,643 | ||||
Hon Hai Precision Industry Company, Ltd. | 2,882,000 | 7,406,643 | |||
United Kingdom 14.9% | 224,575,001 | ||||
Avast PLC (A) | 1,347,800 | 7,763,280 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK DISCIPLINED VALUE INTERNATIONAL FUND | 11 |
Shares | Value | ||||
United Kingdom (continued) | |||||
Aviva PLC | 3,561,240 | $10,769,642 | |||
BAE Systems PLC | 2,634,406 | 16,803,379 | |||
BP PLC | 3,821,678 | 15,058,990 | |||
Coca-Cola European Partners PLC | 221,892 | 8,795,799 | |||
Direct Line Insurance Group PLC | 4,094,311 | 13,949,471 | |||
GlaxoSmithKline PLC | 1,233,524 | 25,734,508 | |||
Imperial Brands PLC | 948,320 | 19,951,185 | |||
Next PLC | 160,050 | 9,529,153 | |||
Nomad Foods, Ltd. (B) | 1,107,099 | 22,817,313 | |||
Persimmon PLC | 537,440 | 14,890,438 | |||
Redrow PLC | 1,442,906 | 8,383,732 | |||
Smith & Nephew PLC | 393,001 | 7,690,669 | |||
Tesco PLC | 7,977,503 | 23,595,993 | |||
Unilever PLC | 365,909 | 18,841,449 | |||
United States 0.6% | 8,523,647 | ||||
Applied Materials, Inc. | 171,571 | 8,523,647 | |||
Yield (%) | Shares | Value | |||
Short-term investments 3.8% | $57,993,855 | ||||
(Cost $57,991,021) | |||||
Short-term funds 3.8% | 57,993,855 | ||||
John Hancock Collateral Trust (D) | 0.6614(E) | 287,018 | 2,872,594 | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 0.2162(E) | 55,121,261 | 55,121,261 |
Total investments (Cost $1,700,944,978) 100.5% | $1,519,734,120 | ||||
Other assets and liabilities, net (0.5%) | (7,631,649) | ||||
Total net assets 100.0% | $1,512,102,471 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
Security Abbreviations and Legend | |
ADR | American Depositary Receipt |
(A) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
(B) | Non-income producing security. |
(C) | All or a portion of this security is on loan as of 4-30-20. |
(D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |
(E) | The rate shown is the annualized seven-day yield as of 4-30-20. |
12 | JOHN HANCOCK DISCIPLINED VALUE INTERNATIONAL FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Financial statements |
Assets | |
Unaffiliated investments, at value (Cost $1,698,075,218) including $9,128,649 of securities loaned | $1,516,861,526 |
Affiliated investments, at value (Cost $2,869,760) | 2,872,594 |
Total investments, at value (Cost $1,700,944,978) | 1,519,734,120 |
Foreign currency, at value (Cost $2,430) | 2,323 |
Dividends and interest receivable | 7,549,048 |
Receivable for fund shares sold | 501,772 |
Receivable for investments sold | 9,604,749 |
Receivable for securities lending income | 10,392 |
Other assets | 103,959 |
Total assets | 1,537,506,363 |
Liabilities | |
Payable for investments purchased | 21,515,484 |
Payable for fund shares repurchased | 707,848 |
Payable upon return of securities loaned | 2,833,756 |
Payable to affiliates | |
Investment management fees | 11 |
Accounting and legal services fees | 72,570 |
Transfer agent fees | 18,504 |
Distribution and service fees | 129 |
Trustees' fees | 2,478 |
Other liabilities and accrued expenses | 253,112 |
Total liabilities | 25,403,892 |
Net assets | $1,512,102,471 |
Net assets consist of | |
Paid-in capital | $2,176,377,652 |
Total distributable earnings (loss) | (664,275,181) |
Net assets | $1,512,102,471 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Disciplined Value International Fund | 13 |
Net asset value per share | |
Based on net asset value and shares outstanding - the fund has an unlimited number of shares authorized with no par value | |
Class A ($92,236,192 ÷ 9,320,312 shares)1 | $9.90 |
Class C ($7,002,186 ÷ 708,371 shares)1 | $9.88 |
Class I ($64,293,460 ÷ 6,489,003 shares) | $9.91 |
Class R2 ($727,287 ÷ 73,377 shares) | $9.91 |
Class R4 ($114,219 ÷ 11,535 shares) | $9.90 |
Class R6 ($193,333,804 ÷ 19,518,565 shares) | $9.91 |
Class NAV ($1,154,395,323 ÷ 116,575,852 shares) | $9.90 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $10.42 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
14 | JOHN HANCOCK Disciplined Value International Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Investment income | |
Dividends | $19,994,220 |
Interest | 288,990 |
Securities lending | 28,032 |
Less foreign taxes withheld | (2,124,812) |
Total investment income | 18,186,430 |
Expenses | |
Investment management fees | 6,417,987 |
Distribution and service fees | 180,902 |
Accounting and legal services fees | 145,993 |
Transfer agent fees | 130,303 |
Trustees' fees | 14,870 |
Custodian fees | 230,945 |
State registration fees | 55,204 |
Printing and postage | 23,697 |
Professional fees | 48,004 |
Other | 67,650 |
Total expenses | 7,315,555 |
Less expense reductions | (58,727) |
Net expenses | 7,256,828 |
Net investment income | 10,929,602 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | (80,404,222) |
Affiliated investments | 38,024 |
(80,366,198) | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | (227,037,736) |
Affiliated investments | 1,982 |
(227,035,754) | |
Net realized and unrealized loss | (307,401,952) |
Decrease in net assets from operations | $(296,472,350) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Disciplined Value International Fund | 15 |
Six months ended 4-30-20 (unaudited) | Year ended 10-31-19 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $10,929,602 | $42,467,083 |
Net realized loss | (80,366,198) | (147,878,276) |
Change in net unrealized appreciation (depreciation) | (227,035,754) | 134,532,189 |
Increase (decrease) in net assets resulting from operations | (296,472,350) | 29,120,996 |
Distributions to shareholders | ||
From earnings | ||
Class A | (2,524,421) | (4,574,049) |
Class C | (151,746) | (410,055) |
Class I | (1,921,066) | (12,087,536) |
Class R2 | (20,292) | (74,864) |
Class R4 | (2,059) | (5,758) |
Class R6 | (4,774,446) | (9,067,346) |
Class NAV | (33,040,204) | (33,628,195) |
Total distributions | (42,434,234) | (59,847,803) |
From fund share transactions | 145,166,299 | 279,225,098 |
Total increase (decrease) | (193,740,285) | 248,498,291 |
Net assets | ||
Beginning of period | 1,705,842,756 | 1,457,344,465 |
End of period | $1,512,102,471 | $1,705,842,756 |
16 | JOHN HANCOCK Disciplined Value International Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Financial highlights |
CLASS A SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-152 | 8-31-153 |
Per share operating performance | |||||||
Net asset value, beginning of period | $12.21 | $12.42 | $14.28 | $11.83 | $12.04 | $12.13 | $13.10 |
Net investment income4 | 0.05 | 0.25 | 0.20 | 0.12 | 0.295 | 0.01 | 0.13 |
Net realized and unrealized gain (loss) on investments | (2.09) | —6 | (1.71) | 2.47 | (0.39) | (0.10) | (0.38) |
Total from investment operations | (2.04) | 0.25 | (1.51) | 2.59 | (0.10) | (0.09) | (0.25) |
Less distributions | |||||||
From net investment income | (0.27) | (0.14) | (0.11) | (0.14) | (0.11) | — | (0.10) |
From net realized gain | — | (0.32) | (0.24) | — | — | — | (0.62) |
Total distributions | (0.27) | (0.46) | (0.35) | (0.14) | (0.11) | — | (0.72) |
Net asset value, end of period | $9.90 | $12.21 | $12.42 | $14.28 | $11.83 | $12.04 | $12.13 |
Total return (%)7,8 | (17.14)9 | 2.34 | (10.87) | 22.14 | (0.86) | (0.74)9 | (1.75) |
Ratios and supplemental data | |||||||
Net assets, end of period (in millions) | $92 | $114 | $124 | $129 | $36 | $33 | $27 |
Ratios (as a percentage of average net assets): | |||||||
Expenses before reductions | 1.2410 | 1.28 | 1.31 | 1.36 | 1.53 | 1.6610 | 1.8110 |
Expenses including reductions | 1.2310 | 1.27 | 1.29 | 1.34 | 1.37 | 1.3910 | 1.3910 |
Net investment income | 0.9710 | 2.13 | 1.41 | 0.97 | 2.525 | 0.7410 | 1.0310 |
Portfolio turnover (%) | 55 | 96 | 95 | 8411 | 63 | 14 | 9112 |
1 | Six months ended 4-30-20. Unaudited. |
2 | For the two-month period ended 10-31-15. The fund changed its fiscal year end from August 31 to October 31. |
3 | The inception date for Class A shares is 9-29-14. |
4 | Based on average daily shares outstanding. |
5 | Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the fund, which amounted to $0.14 and 1.17%, respectively. |
6 | Less than $0.005 per share. |
7 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
8 | Does not reflect the effect of sales charges, if any. |
9 | Not annualized. |
10 | Annualized. |
11 | Excludes merger activity. |
12 | Portfolio turnover is shown for the period from 9-1-14 to 8-31-15. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Disciplined Value International Fund | 17 |
CLASS C SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-152 | 8-31-153 |
Per share operating performance | |||||||
Net asset value, beginning of period | $12.16 | $12.35 | $14.21 | $11.78 | $11.98 | $12.08 | $13.10 |
Net investment income4 | 0.01 | 0.17 | 0.10 | 0.04 | 0.205 | —6 | 0.08 |
Net realized and unrealized gain (loss) on investments | (2.11) | —6 | (1.71) | 2.45 | (0.38) | (0.10) | (0.40) |
Total from investment operations | (2.10) | 0.17 | (1.61) | 2.49 | (0.18) | (0.10) | (0.32) |
Less distributions | |||||||
From net investment income | (0.18) | (0.04) | (0.01) | (0.06) | (0.02) | — | (0.08) |
From net realized gain | — | (0.32) | (0.24) | — | — | — | (0.62) |
Total distributions | (0.18) | (0.36) | (0.25) | (0.06) | (0.02) | — | (0.70) |
Net asset value, end of period | $9.88 | $12.16 | $12.35 | $14.21 | $11.78 | $11.98 | $12.08 |
Total return (%)7,8 | (17.47)9 | 1.67 | (11.52) | 21.22 | (1.42) | (0.83)9 | (2.33)9 |
Ratios and supplemental data | |||||||
Net assets, end of period (in millions) | $7 | $11 | $14 | $18 | $7 | $6 | $6 |
Ratios (as a percentage of average net assets): | |||||||
Expenses before reductions | 1.9910 | 2.00 | 2.01 | 2.06 | 2.23 | 2.3610 | 2.6410 |
Expenses including reductions | 1.9810 | 1.99 | 1.99 | 2.04 | 2.08 | 2.0810 | 2.0810 |
Net investment income | 0.1610 | 1.44 | 0.71 | 0.32 | 1.715 | 0.0210 | 0.6010 |
Portfolio turnover (%) | 55 | 96 | 95 | 8411 | 63 | 14 | 9112 |
1 | Six months ended 4-30-20. Unaudited. |
2 | For the two-month period ended 10-31-15. The fund changed its fiscal year end from August 31 to October 31. |
3 | The inception date for Class C shares is 9-29-14. |
4 | Based on average daily shares outstanding. |
5 | Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the fund, which amounted to $0.14 and 1.17%, respectively. |
6 | Less than $0.005 per share. |
7 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
8 | Does not reflect the effect of sales charges, if any. |
9 | Not annualized. |
10 | Annualized. |
11 | Excludes merger activity. |
12 | Portfolio turnover is shown for the period from 9-1-14 to 8-31-15. |
18 | JOHN HANCOCK Disciplined Value International Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS I SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-152 | 8-31-153 |
Per share operating performance | |||||||
Net asset value, beginning of period | $12.24 | $12.45 | $14.32 | $11.87 | $12.07 | $12.16 | $13.10 |
Net investment income4 | 0.07 | 0.27 | 0.24 | 0.18 | 0.255 | 0.02 | 0.19 |
Net realized and unrealized gain (loss) on investments | (2.10) | 0.026 | (1.72) | 2.44 | (0.30) | (0.11) | (0.40) |
Total from investment operations | (2.03) | 0.29 | (1.48) | 2.62 | (0.05) | (0.09) | (0.21) |
Less distributions | |||||||
From net investment income | (0.30) | (0.18) | (0.15) | (0.17) | (0.15) | — | (0.11) |
From net realized gain | — | (0.32) | (0.24) | — | — | — | (0.62) |
Total distributions | (0.30) | (0.50) | (0.39) | (0.17) | (0.15) | — | (0.73) |
Net asset value, end of period | $9.91 | $12.24 | $12.45 | $14.32 | $11.87 | $12.07 | $12.16 |
Total return (%)7 | (17.06)8 | 2.73 | (10.65) | 22.45 | (0.45) | (0.74)8 | (1.43)8 |
Ratios and supplemental data | |||||||
Net assets, end of period (in millions) | $64 | $88 | $303 | $357 | $201 | $36 | $30 |
Ratios (as a percentage of average net assets): | |||||||
Expenses before reductions | 0.999 | 1.01 | 1.02 | 1.05 | 1.21 | 1.359 | 1.499 |
Expenses including reductions | 0.989 | 0.98 | 0.98 | 1.03 | 1.08 | 1.079 | 1.089 |
Net investment income | 1.179 | 2.22 | 1.75 | 1.38 | 2.135 | 1.009 | 1.649 |
Portfolio turnover (%) | 55 | 96 | 95 | 8410 | 63 | 14 | 9111 |
1 | Six months ended 4-30-20. Unaudited. |
2 | For the two-month period ended 10-31-15. The fund changed its fiscal year end from August 31 to October 31. |
3 | The inception date for Class I shares is 9-29-14. |
4 | Based on average daily shares outstanding. |
5 | Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the fund, which amounted to $0.14 and 1.17%, respectively. |
6 | The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund. |
7 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
8 | Not annualized. |
9 | Annualized. |
10 | Excludes merger activity. |
11 | Portfolio turnover is shown for the period from 9-1-14 to 8-31-15. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Disciplined Value International Fund | 19 |
CLASS R2 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-152 | 8-31-153 |
Per share operating performance | |||||||
Net asset value, beginning of period | $12.22 | $12.42 | $14.29 | $11.85 | $12.05 | $12.14 | $13.10 |
Net investment income4 | 0.05 | 0.24 | 0.20 | 0.12 | 0.305 | 0.01 | 0.16 |
Net realized and unrealized gain (loss) on investments | (2.10) | 0.016 | (1.73) | 2.45 | (0.40) | (0.10) | (0.40) |
Total from investment operations | (2.05) | 0.25 | (1.53) | 2.57 | (0.10) | (0.09) | (0.24) |
Less distributions | |||||||
From net investment income | (0.26) | (0.13) | (0.10) | (0.13) | (0.10) | — | (0.10) |
From net realized gain | — | (0.32) | (0.24) | — | — | — | (0.62) |
Total distributions | (0.26) | (0.45) | (0.34) | (0.13) | (0.10) | — | (0.72) |
Net asset value, end of period | $9.91 | $12.22 | $12.42 | $14.29 | $11.85 | $12.05 | $12.14 |
Total return (%)7 | (17.21)8 | 2.32 | (11.01) | 21.92 | (0.87) | (0.74)8 | (1.68)8 |
Ratios and supplemental data | |||||||
Net assets, end of period (in millions) | $1 | $1 | $3 | $18 | $8 | $—9 | $—9 |
Ratios (as a percentage of average net assets): | |||||||
Expenses before reductions | 1.3310 | 1.35 | 1.41 | 1.43 | 1.61 | 1.6110 | 4.3210 |
Expenses including reductions | 1.3210 | 1.34 | 1.39 | 1.42 | 1.61 | 1.3010 | 1.3110 |
Net investment income | 0.8910 | 1.98 | 1.39 | 0.94 | 2.575 | 0.7310 | 1.3310 |
Portfolio turnover (%) | 55 | 96 | 95 | 8411 | 63 | 14 | 9112 |
1 | Six months ended 4-30-20. Unaudited. |
2 | For the two-month period ended 10-31-15. The fund changed its fiscal year end from August 31 to October 31. |
3 | The inception date for Class R2 shares is 9-29-14. |
4 | Based on average daily shares outstanding. |
5 | Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the fund, which amounted to $0.14 and 1.17%, respectively. |
6 | The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund. |
7 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
8 | Not annualized. |
9 | Less than $500,000. |
10 | Annualized. |
11 | Excludes merger activity. |
12 | Portfolio turnover is shown for the period from 9-1-14 to 8-31-15. |
20 | JOHN HANCOCK Disciplined Value International Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R4 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-152 | 8-31-153 |
Per share operating performance | |||||||
Net asset value, beginning of period | $12.22 | $12.44 | $14.30 | $11.86 | $12.06 | $12.15 | $13.10 |
Net investment income4 | 0.06 | 0.22 | 0.20 | 0.16 | 0.335 | 0.02 | 0.14 |
Net realized and unrealized gain (loss) on investments | (2.10) | 0.046 | (1.69) | 2.45 | (0.40) | (0.11) | (0.36) |
Total from investment operations | (2.04) | 0.26 | (1.49) | 2.61 | (0.07) | (0.09) | (0.22) |
Less distributions | |||||||
From net investment income | (0.28) | (0.16) | (0.13) | (0.17) | (0.13) | — | (0.11) |
From net realized gain | — | (0.32) | (0.24) | — | — | — | (0.62) |
Total distributions | (0.28) | (0.48) | (0.37) | (0.17) | (0.13) | — | (0.73) |
Net asset value, end of period | $9.90 | $12.22 | $12.44 | $14.30 | $11.86 | $12.06 | $12.15 |
Total return (%)7 | (17.13)8 | 2.45 | (10.70) | 22.30 | (0.57) | (0.74)8 | (1.53)8 |
Ratios and supplemental data | |||||||
Net assets, end of period (in millions) | $—9 | $—9 | $—9 | $—9 | $—9 | $—9 | $—9 |
Ratios (as a percentage of average net assets): | |||||||
Expenses before reductions | 1.2210 | 1.25 | 1.25 | 1.26 | 1.37 | 1.5110 | 5.2810 |
Expenses including reductions | 1.1210 | 1.14 | 1.13 | 1.14 | 1.37 | 1.5110 | 1.1710 |
Net investment income | 1.1210 | 1.84 | 1.42 | 1.22 | 2.845 | 0.9710 | 1.2010 |
Portfolio turnover (%) | 55 | 96 | 95 | 8411 | 63 | 14 | 9112 |
1 | Six months ended 4-30-20. Unaudited. |
2 | For the two-month period ended 10-31-15. The fund changed its fiscal year end from August 31 to October 31. |
3 | The inception date for Class R4 shares is 9-29-14. |
4 | Based on average daily shares outstanding. |
5 | Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the fund, which amounted to $0.14 and 1.17%, respectively. |
6 | The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund. |
7 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
8 | Not annualized. |
9 | Less than $500,000. |
10 | Annualized. |
11 | Excludes merger activity. |
12 | Portfolio turnover is shown for the period from 9-1-14 to 8-31-15. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Disciplined Value International Fund | 21 |
CLASS R6 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-152 | 8-31-153 |
Per share operating performance | |||||||
Net asset value, beginning of period | $12.24 | $12.46 | $14.32 | $11.87 | $12.08 | $12.16 | $13.54 |
Net investment income4 | 0.08 | 0.31 | 0.26 | 0.18 | 0.345 | 0.02 | 0.27 |
Net realized and unrealized gain (loss) on investments | (2.10) | (0.01) | (1.71) | 2.46 | (0.39) | (0.10) | (0.91) |
Total from investment operations | (2.02) | 0.30 | (1.45) | 2.64 | (0.05) | (0.08) | (0.64) |
Less distributions | |||||||
From net investment income | (0.31) | (0.20) | (0.17) | (0.19) | (0.16) | — | (0.12) |
From net realized gain | — | (0.32) | (0.24) | — | — | — | (0.62) |
Total distributions | (0.31) | (0.52) | (0.41) | (0.19) | (0.16) | — | (0.74) |
Net asset value, end of period | $9.91 | $12.24 | $12.46 | $14.32 | $11.87 | $12.08 | $12.16 |
Total return (%)6 | (16.98)7 | 2.77 | (10.50) | 22.59 | (0.41) | (0.66)7 | (4.56) |
Ratios and supplemental data | |||||||
Net assets, end of period (in millions) | $193 | $186 | $219 | $140 | $46 | $74 | $73 |
Ratios (as a percentage of average net assets): | |||||||
Expenses before reductions | 0.888 | 0.89 | 0.92 | 0.95 | 1.12 | 1.248 | 1.38 |
Expenses including reductions | 0.878 | 0.88 | 0.88 | 0.92 | 0.95 | 0.958 | 0.95 |
Net investment income | 1.458 | 2.57 | 1.90 | 1.41 | 2.925 | 1.158 | 2.12 |
Portfolio turnover (%) | 55 | 96 | 95 | 849 | 63 | 14 | 91 |
1 | Six months ended 4-30-20. Unaudited. |
2 | For the two-month period ended 10-31-15. The fund changed its fiscal year end from August 31 to October 31. |
3 | After the close of business on 9-26-14, holders of Institutional Class shares of the former Robeco Boston Partners International Equity Fund (the Predecessor fund) became owners of an equal number of full and fractional Class R6 shares of the John Hancock Disciplined Value International Fund. These shares were first offered on 9-29-14. Additionally, the accounting and performance history of the Institutional Class shares of the Predecessor fund was redesignated as that of John Hancock Disciplined Value International Fund Class R6. |
4 | Based on average daily shares outstanding. |
5 | Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the fund, which amounted to $0.14 and 1.17%, respectively. |
6 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
7 | Not annualized. |
8 | Annualized. |
9 | Excludes merger activity. |
22 | JOHN HANCOCK Disciplined Value International Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS NAV SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-152 | 8-31-153 |
Per share operating performance | |||||||
Net asset value, beginning of period | $12.24 | $12.46 | $14.32 | $11.87 | $12.07 | $12.16 | $12.98 |
Net investment income4 | 0.08 | 0.32 | 0.23 | 0.17 | 0.345 | 0.02 | 0.11 |
Net realized and unrealized gain (loss) on investments | (2.11) | (0.02) | (1.69) | 2.47 | (0.38) | (0.11) | (0.93) |
Total from investment operations | (2.03) | 0.30 | (1.46) | 2.64 | (0.04) | (0.09) | (0.82) |
Less distributions | |||||||
From net investment income | (0.31) | (0.20) | (0.16) | (0.19) | (0.16) | — | — |
From net realized gain | — | (0.32) | (0.24) | — | — | — | — |
Total distributions | (0.31) | (0.52) | (0.40) | (0.19) | (0.16) | — | — |
Net asset value, end of period | $9.90 | $12.24 | $12.46 | $14.32 | $11.87 | $12.07 | $12.16 |
Total return (%)6 | (17.06)7 | 2.77 | (10.43) | 22.50 | (0.33) | (0.74)7 | (6.32)7 |
Ratios and supplemental data | |||||||
Net assets, end of period (in millions) | $1,154 | $1,305 | $794 | $327 | $91 | $92 | $91 |
Ratios (as a percentage of average net assets): | |||||||
Expenses before reductions | 0.868 | 0.88 | 0.90 | 0.94 | 1.10 | 1.228 | 1.358 |
Expenses including reductions | 0.868 | 0.87 | 0.88 | 0.92 | 0.95 | 0.958 | 0.958 |
Net investment income | 1.398 | 2.73 | 1.71 | 1.34 | 2.905 | 1.158 | 2.298 |
Portfolio turnover (%) | 55 | 96 | 95 | 849 | 63 | 14 | 9110 |
1 | Six months ended 4-30-20. Unaudited. |
2 | For the two-month period ended 10-31-15. The fund changed its fiscal year end from August 31 to October 31. |
3 | The inception date for Class NAV shares is 4-13-15. |
4 | Based on average daily shares outstanding. |
5 | Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the fund, which amounted to $0.14 and 1.17%, respectively. |
6 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
7 | Not annualized. |
8 | Annualized. |
9 | Excludes merger activity. |
10 | The portfolio turnover is shown for the period from 9-1-14 to 8-31-15. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Disciplined Value International Fund | 23 |
Notes to financial statements (unaudited) |
24 | JOHN HANCOCK Disciplined Value International Fund | SEMIANNUAL REPORT |
Total value at 4-30-20 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Belgium | $5,751,165 | — | $5,751,165 | — |
Bermuda | 18,094,233 | $18,094,233 | — | — |
Canada | 65,000,209 | 65,000,209 | — | — |
China | 5,770,900 | — | 5,770,900 | — |
Denmark | 25,076,426 | — | 25,076,426 | — |
Finland | 23,314,946 | — | 23,314,946 | — |
France | 186,995,976 | — | 186,995,976 | — |
Germany | 88,480,740 | — | 88,480,740 | — |
Greece | 8,860,310 | — | 8,860,310 | — |
Hong Kong | 39,189,777 | — | 39,189,777 | — |
Hungary | 11,198,724 | — | 11,198,724 | — |
India | 8,023,868 | 8,023,868 | — | — |
Indonesia | 12,861,420 | — | 12,861,420 | — |
Ireland | 18,910,598 | — | 18,910,598 | — |
Italy | 24,078,670 | — | 24,078,670 | — |
Japan | 340,949,847 | — | 340,949,847 | — |
Macau | 10,442,756 | — | 10,442,756 | — |
Netherlands | 66,403,299 | 12,079,737 | 54,323,562 | — |
Norway | 12,756,685 | — | 12,756,685 | — |
Singapore | 17,011,610 | — | 17,011,610 | — |
South Korea | 67,471,990 | 17,498,342 | 49,973,648 | — |
Spain | 15,356,752 | — | 15,356,752 | — |
SEMIANNUAL REPORT | JOHN HANCOCK Disciplined Value International Fund | 25 |
Total value at 4-30-20 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Sweden | $25,830,692 | — | $25,830,692 | — |
Switzerland | 123,403,381 | — | 123,403,381 | — |
Taiwan | 7,406,643 | — | 7,406,643 | — |
United Kingdom | 224,575,001 | $31,613,112 | 192,961,889 | — |
United States | 8,523,647 | 8,523,647 | — | — |
Short-term investments | 57,993,855 | 57,993,855 | — | — |
Total investments in securities | $1,519,734,120 | $218,827,003 | $1,300,907,117 | — |
26 | JOHN HANCOCK Disciplined Value International Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Disciplined Value International Fund | 27 |
28 | JOHN HANCOCK Disciplined Value International Fund | SEMIANNUAL REPORT |
Class | Expense reduction |
Class A | $3,839 |
Class C | 330 |
Class I | 3,047 |
Class R2 | 35 |
Class | Expense reduction |
Class R4 | $3 |
Class R6 | 6,832 |
Class NAV | 44,599 |
Total | $58,685 |
SEMIANNUAL REPORT | JOHN HANCOCK Disciplined Value International Fund | 29 |
Class | Rule 12b-1 Fee | Service fee |
Class A | 0.25% | — |
Class C | 1.00% | — |
Class R2 | 0.25% | 0.25% |
Class R4 | 0.25% | 0.10% |
Class | Distribution and service fees | Transfer agent fees |
Class A | $133,040 | $66,751 |
Class C | 45,553 | 5,711 |
Class I | — | 45,199 |
Class R2 | 2,166 | 63 |
30 | JOHN HANCOCK Disciplined Value International Fund | SEMIANNUAL REPORT |
Class | Distribution and service fees | Transfer agent fees |
Class R4 | $143 | $6 |
Class R6 | — | 12,573 |
Total | $180,902 | $130,303 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Lender | $19,974,136 | 2 | 0.666% | $739 |
Six Months Ended 4-30-20 | Year Ended 10-31-19 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 1,046,357 | $11,543,812 | 2,007,527 | $23,605,125 |
Distributions reinvested | 202,693 | 2,503,255 | 401,952 | 4,534,023 |
Repurchased | (1,303,612) | (14,331,288) | (3,033,741) | (35,727,652) |
Net decrease | (54,562) | $(284,221) | (624,262) | $(7,588,504) |
Class C shares | ||||
Sold | 27,848 | $307,664 | 195,740 | $2,229,904 |
Distributions reinvested | 12,212 | 151,067 | 35,948 | 406,213 |
Repurchased | (200,511) | (2,266,931) | (525,329) | (6,195,117) |
Net decrease | (160,451) | $(1,808,200) | (293,641) | $(3,559,000) |
Class I shares | ||||
Sold | 1,563,726 | $15,607,128 | 2,769,735 | $32,892,402 |
Distributions reinvested | 155,250 | 1,917,338 | 1,071,192 | 12,072,330 |
Repurchased | (2,439,545) | (27,417,586) | (20,991,097) | (239,520,422) |
Net decrease | (720,569) | $(9,893,120) | (17,150,170) | $(194,555,690) |
SEMIANNUAL REPORT | JOHN HANCOCK Disciplined Value International Fund | 31 |
Six Months Ended 4-30-20 | Year Ended 10-31-19 | |||
Shares | Amount | Shares | Amount | |
Class R2 shares | ||||
Sold | 12,960 | $146,491 | 28,703 | $338,849 |
Distributions reinvested | 1,389 | 17,186 | 3,904 | 44,075 |
Repurchased | (47,745) | (557,849) | (135,090) | (1,620,944) |
Net decrease | (33,396) | $(394,172) | (102,483) | $(1,238,020) |
Class R4 shares | ||||
Sold | 5,217 | $54,040 | 1,294 | $15,390 |
Distributions reinvested | 167 | 2,059 | 510 | 5,758 |
Repurchased | (212) | (2,618) | (9,829) | (114,996) |
Net increase (decrease) | 5,172 | $53,481 | (8,025) | $(93,848) |
Class R6 shares | ||||
Sold | 6,193,953 | $71,728,084 | 4,428,683 | $52,550,822 |
Distributions reinvested | 386,854 | 4,773,778 | 804,540 | 9,067,165 |
Repurchased | (2,282,625) | (25,675,952) | (7,571,611) | (90,260,425) |
Net increase (decrease) | 4,298,182 | $50,825,910 | (2,338,388) | $(28,642,438) |
Class NAV shares | ||||
Sold | 11,886,096 | $129,148,730 | 50,935,318 | $612,113,831 |
Distributions reinvested | 2,677,488 | 33,040,204 | 2,986,518 | 33,628,195 |
Repurchased | (4,601,212) | (55,522,313) | (11,040,555) | (130,839,428) |
Net increase | 9,962,372 | $106,666,621 | 42,881,281 | $514,902,598 |
Total net increase | 13,296,748 | $145,166,299 | 22,364,312 | $279,225,098 |
Portfolio | Affiliated Concentration |
JHF II Multimanager Lifestyle Growth Portfolio | 25.9% |
JHF II Multimanager Lifestyle Balanced Portfolio | 18.4% |
JHF II Multimanager Lifestyle Aggressive Portfolio | 10.8% |
32 | JOHN HANCOCK Disciplined Value International Fund | SEMIANNUAL 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* | 287,018 | $15,987,539 | $82,659,819 | $(95,814,770) | $38,024 | $1,982 | $28,032 | — | $2,872,594 |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
SEMIANNUAL REPORT | JOHN HANCOCK Disciplined Value International Fund | 33 |
STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT
Operation of the Liquidity Risk Management Program
This section describes operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock Disciplined Value International Fund, subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Fund's subadvisor, Boston Partners Global Investors, Inc. (the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.
The Committee holds monthly meetings to: (1) review the day-to-day operations of the LRMP; (2) review and approve month end liquidity classifications; (3) review quarterly testing and determinations, as applicable; and (4) review other LRMP related material. The Committee also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Committee may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity and valuation issues.
The Committee provided the Board at a meeting held on March 15-17, 2020 with a written report which addressed the Committee's assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period December 1, 2018 through December 31, 2019, included an assessment of important aspects of the LRMP including, but not limited to:
• Operation of the Fund's Redemption-In-Kind Procedures;
• Highly Liquid Investment Minimum (HLIM) determination;
• Compliance with the 15% limit on illiquid investments;
• Reasonably Anticipated Trade Size (RATS) determination;
• Security-level liquidity classifications; and
• Liquidity risk assessment.
The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee's actions to address such matters.
Redemption-In-Kind Procedures
Rule 22e-4 requires any fund that engages in or reserves the right to engage in in-kind redemptions to adopt and implement written policies and procedures regarding in-kind redemptions as part of the management of its liquidity risk. These procedures address the process for redeeming in kind, as well as the circumstances under which the Fund would consider redeeming in kind. Anticipated large redemption activity will be evaluated to identify situations where redeeming in securities instead of cash may be appropriate.
As part of its annual assessment of the LRMP, the Committee reviewed the implementation and operation of the Redemption-In-Kind Procedures and determined they are operating in a manner that such procedures are adequate and effective to manage in-kind redemptions on behalf of the Fund as part of the LRMP.
Highly Liquid Investment Minimum determination
The Committee uses an HLIM model to determine a Fund's HLIM. This process incorporates the Fund's investment strategy, historical redemptions, liquidity classification rollup percentages and cash balances, redemption policy, access to funding sources, distribution channels and client concentrations. If the Fund falls below its established HLIM for a period greater than 7 consecutive calendar days, the Committee prepares a report to the Board within one business day following the seventh consecutive calendar day with an explanation of how the Fund plans to restore its HLIM within a reasonable period of time.
Based on the HLIM model, the Committee has determined that the Fund qualifies as a Primarily Highly Liquid Fund (PHLF). It is therefore not required to establish a HLIM. The Fund is tested quarterly to confirm its PHLF status.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to HLIM and PHLF determinations, and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Compliance with the 15% limit on illiquid investments
Rule 22e-4 sets an aggregate illiquid investment limit of 15% for a fund. Funds are prohibited from acquiring an illiquid investment if this results in greater than 15% of its net assets being classified as illiquid. When applying this limit, the Committee defines "illiquid investment" to mean any investment that the Fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. If a 15% illiquid investment limit breach occurs for longer than 1 business day, the Fund is required to notify the Board and provide a plan on how to bring illiquid investments within the 15% threshold, and after 7 days confidentially notify the Securities and Exchange Commission (the SEC).
In February 2019, as a result of extended security markets closures in connection with the Chinese New Year in certain countries, the SEC released guidance, and the Committee approved and adopted an Extended Market Holiday Policy to plan for and monitor known Extended Market Holidays (defined as all expected market holiday closures spanning four or more calendar days).
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to the 15% illiquid investment limit and determined such policies and procedures are operating in a manner that is adequate and effective as part of the LMRP.
Reasonably Anticipated Trade Size determination
In order to assess the liquidity risk of a Fund, the Committee considers the impact on the Fund that redemptions of a RATS would have under both normal and reasonably foreseeable stressed conditions. Modelling the Fund's RATS requires quantifying cash flow volatility and analyzing distribution channel concentration and redemption risk. The model is designed to estimate the amount of assets that the Fund could reasonably anticipate trading on a given day, during both normal and reasonably foreseeable stressed conditions, to satisfy redemption requests.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to RATS determinations and determined that such policies and procedures are operating in a manner that is adequate and effective at making RATS determinations as part of the LRMP.
Security-level liquidity classifications
When classifying the liquidity of portfolio securities, the Fund adheres to the liquidity classification procedures established by the Advisor. In assigning a liquidity classification to Fund portfolio holdings, the following key inputs, among others, are considered: the Fund's RATS, feedback from the applicable Subadvisor on market-, trading- and investment-specific considerations, an assessment of current market conditions and fund portfolio holdings, and a value impact standard. The Subadvisor also provides position-level data to the Committee for use in monthly classification reconciliation in order to identify any classifications that may need to be changed as a result of the above considerations.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to security-level liquidity classifications and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Liquidity risk assessment
The Committee periodically reviews and assesses, the Fund's liquidity risk, including its investment strategy and liquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions (including whether the investment strategy is appropriate for an open-end fund, the extent to which the strategy involves a relatively concentrated portfolio or large positions in particular issuers, and the use of borrowings for investment purposes and derivatives), cash flow analysis during both normal and reasonably foreseeable stressed conditions, and holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.
The Committee also monitors global events, such as the COVID-19 Coronavirus, that could impact the markets and liquidity of portfolio investments and their classifications.
As part of its annual assessment of the LRMP, the Committee reviewed Fund-Level Liquidity Risk Assessment Reports for each of the Funds and determined that the investment strategy for each Fund continues to be appropriate for an open-ended structure.
Adequacy and Effectiveness
Based on the review and assessment conducted by the Committee, the Committee has determined that the LRMP has been implemented, and is operating in a manner that is adequate and effective at assessing and managing the liquidity risk of each Fund.
Trustees Hassell H. McClellan,Chairperson Officers Andrew G. Arnott Francis V. Knox, Jr. Charles A. Rizzo Salvatore Schiavone Christopher (Kit) Sechler | Investment advisor John Hancock Investment Management LLC Subadvisor Boston Partners Global Investors, Inc. Portfolio Managers Joseph F. Feeney, Jr., CFA Principal distributor John Hancock Investment Management Distributors LLC Custodian State Street Bank and Trust Company Transfer agent John Hancock Signature Services, Inc. Legal counsel K&L Gates LLP |
* Member of the Audit Committee
† Non-Independent Trustee
The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund's holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund's Form N-PORT filings are available on our website and the SEC's website, sec.gov.
We make this information on your fund, as well asmonthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
You can also contact us: | |||
800-225-5291 jhinvestments.com | Regular mail: John Hancock Signature Services, Inc. | Express mail: John Hancock Signature Services, Inc. |
John Hancock family of funds
DOMESTIC EQUITY FUNDS Blue Chip Growth Classic Value Disciplined Value Disciplined Value Mid Cap Equity Income Financial Industries Fundamental All Cap Core Fundamental Large Cap Core New Opportunities Regional Bank Small Cap Core Small Cap Growth Small Cap Value U.S. Global Leaders Growth U.S. Quality Growth GLOBAL AND INTERNATIONAL EQUITY FUNDS Disciplined Value International Emerging Markets Emerging Markets Equity Fundamental Global Franchise Global Equity Global Shareholder Yield Global Thematic Opportunities International Dynamic Growth International Growth International Small Company | INCOME FUNDS Bond California Tax-Free Income Emerging Markets Debt Floating Rate Income Government Income High Yield High Yield Municipal Bond Income Investment Grade Bond Money Market Short Duration Bond Short Duration Credit Opportunities Strategic Income Opportunities Tax-Free Bond ALTERNATIVE AND SPECIALTY FUNDS Absolute Return Currency Alternative Asset Allocation Alternative Risk Premia Diversified Macro Infrastructure Multi-Asset Absolute Return Seaport Long/Short |
A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
ASSET ALLOCATION Balanced Multi-Asset High Income Multi-Index Lifetime Portfolios Multi-Index Preservation Portfolios Multimanager Lifestyle Portfolios Multimanager Lifetime Portfolios Retirement Income 2040 EXCHANGE-TRADED FUNDS John Hancock Multifactor Consumer Discretionary ETF John Hancock Multifactor Consumer Staples ETF John Hancock Multifactor Developed International ETF John Hancock Multifactor Emerging Markets ETF John Hancock Multifactor Energy ETF John Hancock Multifactor Financials ETF John Hancock Multifactor Healthcare ETF John Hancock Multifactor Industrials ETF John Hancock Multifactor Large Cap ETF John Hancock Multifactor Materials ETF John Hancock Multifactor Media and John Hancock Multifactor Mid Cap ETF John Hancock Multifactor Small Cap ETF John Hancock Multifactor Technology ETF John Hancock Multifactor Utilities ETF | ENVIRONMENTAL, SOCIAL, AND ESG All Cap Core ESG Core Bond ESG International Equity ESG Large Cap Core CLOSED-END FUNDS Financial Opportunities Hedged Equity & Income Income Securities Trust Investors Trust Preferred Income Preferred Income II Preferred Income III Premium Dividend Tax-Advantaged Dividend Income Tax-Advantaged Global Shareholder Yield |
John Hancock Multifactor ETF shares are bought and sold at market price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Investment Management Distributors LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock Multifactor ETFs.
John Hancock Investment Management
A trusted brand
John Hancock Investment Management is a premier asset manager
representing one of America's most trusted brands, with a heritage of
financial stewardship dating back to 1862. Helping our shareholders
pursue their financial goals is at the core of everything we do. It's why
we support the role of professional financial advice and operate with
the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world's best
managers, along with strong risk-adjusted returns across asset classes.
John Hancock Investment Management Distributors LLC n Member FINRA, SIPC
200 Berkeley Street n Boston, MA 02116-5010 n 800-225-5291 n jhinvestments.com
This report is for the information of the shareholders of John Hancock Disciplined Value International Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF1182589 | 455SA 4/20 6/2020 |
John Hancock
Diversified Macro Fund
Semiannual report 4/30/2020
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the fund's shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change, and you do not need to take any action. You may elect to receive shareholder reports and other communications electronically by calling John Hancock Investment Management at 800-225-5291 (Class A and Class C shares) or 888-972-8696 (Class I and Class R6 shares) or by contacting your financial intermediary.
You may elect to receive all reports in paper, free of charge, at any time. You can inform John Hancock Investment Management or your financial intermediary that you wish to continue receiving paper copies of your shareholder reports by following the instructions listed above. Your election to receive reports in paper will apply to all funds held with John Hancock Investment Management or your financial intermediary.
A message to shareholders
Dear shareholder,
Global financial markets were on pace to deliver strong returns during the 6 months ended April 30, 2020, until heightened fears over the coronavirus (COVID-19) sent markets tumbling during the latter half of February and early March.In response to the sell-off, governments and banks in some of the hardest hit areas throughout the world enacted policies and stimulus efforts designed to reignite their respective economies. While these measures helped lift equity and fixed-income markets in the United States during the final six weeks of the period, results were mixed in other areas of the world.
The continued spread of COVID-19, trade disputes, rising unemployment, and other geopolitical tensions may continue to create uncertainty among businesses and investors. Your financial professional can helpposition your portfolio so that it's sufficiently diversified to seek to meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I'd like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you've placed in us.
Sincerely,
Andrew G. Arnott
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO's views as of this report's period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
Diversified Macro Fund
Table of contents
2 | Your fund at a glance | |
3 | Portfolio summary | |
4 | A look at performance | |
6 | Your expenses | |
8 | Consolidated fund's investments | |
12 | Consolidated financial statements | |
15 | Consolidated financial highlights | |
20 | Notes to consolidated financial statements | |
30 | Statement regarding liquidity risk management | |
33 | More information |
INVESTMENT OBJECTIVE
The fund seeks long-term capital appreciation.
TOTAL RETURNS AS OF 4/30/2020 (%)
The Intercontinental Exchange (ICE) Bank of America 0-3 Month U.S. Treasury Bill Index tracks the performance of U.S. dollar-denominated U.S. Treasury bills publicly issued in the U.S. domestic market with a remaining term to final maturity of less than three months.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower. Since inception returns for the Morningstar fund category average are not available.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus. The fund recently experienced negative short-term performance due to market volatility associated with the COVID-19 pandemic.
A note about risks
The fund may be subject to various risks as described in the fund's prospectus. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange trading suspensions and closures, impact the ability to complete redemptions, and affect fund performance. For example, the novel coronavirus disease (COVID-19) has resulted in significant disruptions to global business activity. The impact of a health crisis and other epidemics and pandemics that may arise in the future, could affect the global economy in ways that cannot necessarily be foreseen at the present time. A health crisis may exacerbate other pre-existing political, social, and economic risks. Any such impact could adversely affect the funds' performance, resulting in losses to your investment. For more information, please refer to the "Principal risks" section of the prospectus.
TOTAL RETURNS FOR THE PERIOD ENDED APRIL 30, 2020
Cumulative total returns (%) with maximum sales charge | |||||||
6-month | Since inception1 | ||||||
Class A | -13.03 | -11.13 | |||||
Class C | -9.74 | -7.93 | |||||
Class I2 | -8.33 | -6.22 | |||||
Class R62 | -8.23 | -6.12 | |||||
Class NAV2 | -8.33 | -6.22 | |||||
Index† | 0.74 | 1.29 |
Performance figures assume all distributions are reinvested. Figures reflect maximum sales charges on Class A shares of 5% and the applicable contingent deferred sales charge (CDSC) on Class C shares. Class C shares sold within one year of purchase are subject to a 1% CDSC. Sales charges are not applicable to Class I, Class R6, and Class NAV shares.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectuses for the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until February 28, 2021 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Class A | Class C | Class I | Class R6 | Class NAV | |
Gross (%) | 1.76 | 2.51 | 1.51 | 1.40 | 1.39 |
Net (%) | 1.70 | 2.45 | 1.45 | 1.34 | 1.33 |
Please refer to the most recent prospectuses and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.
The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.
The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.
† | Index is the ICE Bank of America 0-3 Month U.S. Treasury Bill Index. |
See the following page for footnotes.
This chart and table show what happened to a hypothetical $10,000 investment in John Hancock Diversified Macro Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in ICE Bank of America 0-3 Month U.S. Treasury Bill Index.
Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class C | 7-29-19 | 9,207 | 9,296 | 10,129 |
Class I2 | 7-29-19 | 9,378 | 9,378 | 10,129 |
Class R62 | 7-29-19 | 9,388 | 9,388 | 10,129 |
Class NAV2 | 7-29-19 | 9,378 | 9,378 | 10,129 |
The Intercontinental Exchange (ICE) Bank of America 0-3 Month U.S. Treasury Bill Index tracks the performance of U.S. dollar-denominated U.S. Treasury bills publicly issued in the U.S. domestic market with a remaining term to final maturity of less than three months.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Footnotes related to performance pages
1 | From 7-29-19. |
2 | For certain types of investors, as described in the fund's prospectuses. |
Your expenses |
SEMIANNUAL REPORT | JOHN HANCOCK DIVERSIFIED MACRO FUND | 6 |
Account value on 11-1-2019 | Ending value on 4-30-2020 | Expenses paid during period ended 4-30-20201 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $915.60 | $8.14 | 1.71% |
Hypothetical example | 1,000.00 | 1,016.40 | 8.57 | 1.71% | |
Class C | Actual expenses/actual returns | 1,000.00 | 911.40 | 11.69 | 2.46% |
Hypothetical example | 1,000.00 | 1,012.60 | 12.31 | 2.46% | |
Class I | Actual expenses/actual returns | 1,000.00 | 916.70 | 6.96 | 1.46% |
Hypothetical example | 1,000.00 | 1,017.60 | 7.32 | 1.46% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 917.70 | 6.44 | 1.35% |
Hypothetical example | 1,000.00 | 1,018.20 | 6.77 | 1.35% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 916.70 | 6.39 | 1.34% |
Hypothetical example | 1,000.00 | 1,018.20 | 6.72 | 1.34% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period). |
7 | JOHN HANCOCK DIVERSIFIED MACRO FUND | SEMIANNUAL REPORT |
Consolidated Fund’s investments |
Par value^ | Value | ||||
Short-term investments 41.5% | $89,000,000 | ||||
(Cost $89,000,000) | |||||
Repurchase agreement 41.5% | 89,000,000 | ||||
Nomura Securities International, Inc. Tri-Party Repurchase Agreement dated 4-30-20 at (0.080%) to be repurchased at $88,999,802 on 5-1-20, collateralized by $18,153,700 U.S. Treasury Notes, 2.125% due 12-31-22 (valued at $19,197,554) and $88,464,489 U.S. Treasury STRIPS, 0.000% due 11-15-21 to 11-15-49 (valued at $71,582,499) | 89,000,000 | 89,000,000 |
Total investments (Cost $89,000,000) 41.5% | $89,000,000 | ||||
Other assets and liabilities, net 58.5% | 125,428,213 | ||||
Total net assets 100.0% | $214,428,213 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
^All par values are denominated in U.S. dollars unless otherwise indicated. | |
Security Abbreviations and Legend | |
STRIPS | Separate Trading of Registered Interest and Principal Securities |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK DIVERSIFIED MACRO FUND | 8 |
Open contracts | Number of contracts | Position | Expiration date | Notional basis^ | Notional value^ | Unrealized appreciation (depreciation) |
10-Year U.S. Treasury Note Futures | 477 | Long | Jun 2020 | $65,757,929 | $66,243,375 | $485,446 |
30-Year U.S. Treasury Bond Futures | 164 | Long | Jun 2020 | 29,190,022 | 29,596,875 | 406,853 |
3-Month EURIBOR Futures | 12 | Long | Jun 2021 | 3,303,431 | 3,303,508 | 77 |
5-Year U.S. Treasury Note Futures | 749 | Long | Jul 2020 | 93,247,839 | 93,940,984 | 693,145 |
90-Day Eurodollar Futures | 861 | Long | Jun 2021 | 213,932,389 | 214,690,344 | 757,955 |
Australian 10-Year Bond Futures | 243 | Long | Jun 2020 | 23,761,938 | 23,541,620 | (220,318) |
Brent Crude Futures | 68 | Long | Jun 2020 | 2,012,627 | 1,808,800 | (203,827) |
Canadian 10-Year Bond Futures | 284 | Long | Jun 2020 | 30,225,499 | 30,484,170 | 258,671 |
Cocoa Futures | 20 | Long | Jul 2020 | 452,698 | 482,890 | 30,192 |
Dow Jones Industrial Average Index E-Mini Futures | 64 | Long | Jun 2020 | 7,066,090 | 7,748,800 | 682,710 |
Euro-Bund Futures | 128 | Long | Jun 2020 | 24,305,016 | 24,422,299 | 117,283 |
Euro-Schatz Futures | 353 | Long | Jun 2020 | 43,376,514 | 43,439,816 | 63,302 |
German Stock Index Futures | 32 | Long | Jun 2020 | 8,597,380 | 9,490,976 | 893,596 |
Gold 100 Oz Futures | 92 | Long | Jun 2020 | 15,264,560 | 15,585,720 | 321,160 |
Hang Seng Index Futures | 58 | Long | May 2020 | 8,880,815 | 9,110,362 | 229,547 |
NASDAQ 100 Index E-Mini Futures | 54 | Long | Jun 2020 | 8,394,495 | 9,700,560 | 1,306,065 |
Nikkei 225 Index Futures | 23 | Long | Jun 2020 | 4,114,316 | 4,286,447 | 172,131 |
Russell 2000 Index Mini Futures | 44 | Long | Jun 2020 | 2,633,417 | 2,875,400 | 241,983 |
S&P 500 E-Mini Index Futures | 67 | Long | Jun 2020 | 8,544,938 | 9,719,188 | 1,174,250 |
Tokyo Price Index Futures | 35 | Long | Jun 2020 | 4,488,765 | 4,740,484 | 251,719 |
U.S. Dollar Index Futures | 71 | Long | Jun 2020 | 7,112,761 | 7,030,065 | (82,696) |
Wheat Futures | 77 | Long | Jul 2020 | 2,104,778 | 2,015,475 | (89,303) |
10-Year Japan Government Bond Futures | 4 | Short | Jun 2020 | (5,710,004) | (5,694,265) | 15,739 |
2-Year U.S. Treasury Note Futures | 87 | Short | Jul 2020 | (19,021,069) | (19,174,664) | (153,595) |
90-Day Pound Sterling Futures | 727 | Short | Jun 2021 | (113,938,437) | (114,181,770) | (243,333) |
Coffee ’C’ Futures | 38 | Short | Jul 2020 | (1,691,497) | (1,514,063) | 177,434 |
Corn Futures | 177 | Short | Jul 2020 | (2,891,251) | (2,825,363) | 65,888 |
Cotton No. 2 Futures | 33 | Short | Jul 2020 | (857,639) | (947,265) | (89,626) |
Electrolytic Copper Futures | 29 | Short | Sep 2020 | (3,761,009) | (3,767,644) | (6,635) |
Euro STOXX 50 Index Futures | 206 | Short | Jun 2020 | (6,286,869) | (6,503,742) | (216,873) |
Euro-BOBL Futures | 111 | Short | Jun 2020 | (16,533,264) | (16,527,205) | 6,059 |
FTSE 100 Index Futures | 140 | Short | Jun 2020 | (10,083,097) | (10,338,174) | (255,077) |
Gas Oil Futures | 65 | Short | Jun 2020 | (1,862,961) | (1,638,000) | 224,961 |
Gas Oil Futures | 31 | Short | Jul 2020 | (816,769) | (828,475) | (11,706) |
Gasoline RBOB Futures | 60 | Short | Jun 2020 | (1,943,873) | (1,952,244) | (8,371) |
Gasoline RBOB Futures | 30 | Short | Jul 2020 | (954,920) | (1,005,228) | (50,308) |
Hard Red Winter Wheat Futures | 70 | Short | Jul 2020 | (1,693,096) | (1,706,250) | (13,154) |
Long Gilt Futures | 220 | Short | Jun 2020 | (37,514,758) | (38,199,428) | (684,670) |
9 | JOHN HANCOCK DIVERSIFIED MACRO FUND | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Open contracts | Number of contracts | Position | Expiration date | Notional basis^ | Notional value^ | Unrealized appreciation (depreciation) |
Natural Gas Futures | 71 | Short | May 2020 | $(1,343,730) | $(1,377,400) | $(33,670) |
Natural Gas Futures | 34 | Short | Jun 2020 | (720,763) | (733,720) | (12,957) |
NY Harbor ULSD Futures | 70 | Short | Jun 2020 | (2,903,976) | (2,464,896) | 439,080 |
NY Harbor ULSD Futures | 48 | Short | Jul 2020 | (1,683,997) | (1,791,619) | (107,622) |
Primary Aluminum Futures | 28 | Short | Jun 2020 | (1,209,316) | (1,036,595) | 172,721 |
Primary Aluminum Futures | 10 | Short | Sep 2020 | (380,862) | (377,063) | 3,799 |
SGX Japanese Government Bond Futures | 15 | Short | Jun 2020 | (2,157,053) | (2,136,328) | 20,725 |
Silver Futures | 55 | Short | Jul 2020 | (4,255,699) | (4,149,750) | 105,949 |
Soybean Futures | 90 | Short | Jul 2020 | (3,849,166) | (3,849,750) | (584) |
Soybean Meal Futures | 44 | Short | Jul 2020 | (1,300,454) | (1,299,760) | 694 |
Soybean Oil Futures | 38 | Short | Jul 2020 | (614,340) | (605,796) | 8,544 |
Sugar No. 11 (World) Futures | 90 | Short | Jul 2020 | (1,087,283) | (1,050,336) | 36,947 |
WTI Crude Oil Futures | 96 | Short | Jun 2020 | (1,605,488) | (2,106,240) | (500,752) |
Zinc Futures | 15 | Short | Jun 2020 | (828,662) | (726,188) | 102,474 |
Zinc Futures | 5 | Short | Sep 2020 | (241,971) | (242,981) | (1,010) |
$6,481,012 |
Contract to buy | Contract to sell | Counterparty (OTC) | Contractual settlement date | Unrealized appreciation | Unrealized depreciation | ||
AUD | 21,178,000 | USD | 13,150,036 | BOA | 6/19/2020 | $652,533 | — |
CAD | 53,523,000 | USD | 38,495,754 | BOA | 6/19/2020 | — | $(40,497) |
CHF | 9,129,000 | USD | 9,513,668 | BOA | 6/19/2020 | — | (43,258) |
EUR | 5,692,000 | USD | 6,221,232 | BOA | 6/19/2020 | 22,293 | — |
GBP | 14,419,000 | USD | 18,086,276 | BOA | 6/19/2020 | 78,111 | — |
JPY | 4,685,952,000 | USD | 43,768,189 | BOA | 6/19/2020 | — | (72,169) |
MXN | 226,676,000 | USD | 9,804,815 | BOA | 6/19/2020 | — | (470,553) |
NZD | 10,415,000 | USD | 6,331,307 | BOA | 6/19/2020 | 55,871 | — |
USD | 38,661,405 | AUD | 61,598,000 | BOA | 6/19/2020 | — | (1,484,533) |
USD | 35,154,239 | CAD | 49,239,000 | BOA | 6/19/2020 | — | (223,045) |
USD | 1,010,695 | CHF | 954,000 | BOA | 6/19/2020 | 21,017 | — |
USD | 53,491,874 | EUR | 48,689,000 | BOA | 6/19/2020 | 85,169 | — |
USD | 53,139,754 | GBP | 42,914,000 | BOA | 6/19/2020 | — | (921,314) |
USD | 97,237,875 | JPY | 10,422,826,000 | BOA | 6/19/2020 | 46,096 | — |
USD | 2,002,969 | MXN | 44,903,000 | BOA | 6/19/2020 | 153,914 | — |
USD | 17,045,712 | NZD | 28,581,000 | BOA | 6/19/2020 | — | (482,077) |
$1,115,004 | $(3,737,446) |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK DIVERSIFIED MACRO FUND | 10 |
Derivatives Currency Abbreviations | |
AUD | Australian Dollar |
CAD | Canadian Dollar |
CHF | Swiss Franc |
EUR | Euro |
GBP | Pound Sterling |
JPY | Japanese Yen |
MXN | Mexican Peso |
NZD | New Zealand Dollar |
USD | U.S. Dollar |
Derivatives Abbreviations | |
BOA | Bank of America, N.A. |
EURIBOR | Euro Interbank Offered Rate |
OTC | Over-the-counter |
RBOB | Reformulated Blendstock for Oxygenate Blending |
WTI | West Texas Intermediate |
11 | JOHN HANCOCK DIVERSIFIED MACRO FUND | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Consolidated financial statements |
Assets | |
Repurchase agreements, at value (Cost $89,000,000) | $89,000,000 |
Unrealized appreciation on forward foreign currency contracts | 1,115,004 |
Receivable for futures variation margin | 1,356,305 |
Cash | 105,310,765 |
Collateral held at broker for futures contracts | 15,998,182 |
Collateral segregated at custodian for OTC derivative contracts | 5,370,000 |
Receivable for fund shares sold | 33,695 |
Receivable from affiliates | 1,065 |
Other assets | 76,500 |
Total assets | 218,261,516 |
Liabilities | |
Unrealized depreciation on forward foreign currency contracts | 3,737,446 |
Foreign currency overdraft, at value (cost $6,297) | 6,297 |
Payable for fund shares repurchased | 16,805 |
Payable to affiliates | |
Accounting and legal services fees | 11,656 |
Transfer agent fees | 2,792 |
Trustees' fees | 387 |
Other liabilities and accrued expenses | 57,920 |
Total liabilities | 3,833,303 |
Net assets | $214,428,213 |
Net assets consist of | |
Paid-in capital | $234,291,267 |
Total distributable earnings (loss) | (19,863,054) |
Net assets | $214,428,213 |
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 ($98,847 ÷ 10,960 shares)1 | $9.02 |
Class C ($50,207 ÷ 5,600 shares)1 | $8.97 |
Class I ($24,424,794 ÷ 2,702,307 shares) | $9.04 |
Class R6 ($15,008,794 ÷ 1,658,985 shares) | $9.05 |
Class NAV ($174,845,571 ÷ 19,333,826 shares) | $9.04 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $9.49 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Diversified Macro Fund | 12 |
Investment income | |
Interest | $1,197,309 |
Expenses | |
Investment management fees | 1,349,999 |
Distribution and service fees | 341 |
Accounting and legal services fees | 22,394 |
Transfer agent fees | 10,751 |
Trustees' fees | 1,402 |
Custodian fees | 33,653 |
State registration fees | 38,224 |
Printing and postage | 7,428 |
Professional fees | 210,320 |
Other | 17,593 |
Total expenses | 1,692,105 |
Less expense reductions | (177,317) |
Net expenses | 1,514,788 |
Net investment loss | (317,479) |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | 14,671 |
Futures contracts | (19,991,503) |
Forward foreign currency contracts | (4,047,631) |
(24,024,463) | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | (44,168) |
Futures contracts | 3,011,692 |
Forward foreign currency contracts | (703,795) |
2,263,729 | |
Net realized and unrealized loss | (21,760,734) |
Decrease in net assets from operations | $(22,078,213) |
13 | JOHN HANCOCK Diversified Macro Fund | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Six months ended 4-30-20 (unaudited) | Period ended 10-31-191 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income (loss) | $(317,479) | $328,359 |
Net realized gain (loss) | (24,024,463) | 3,185,340 |
Change in net unrealized appreciation (depreciation) | 2,263,729 | 1,548,879 |
Increase (decrease) in net assets resulting from operations | (22,078,213) | 5,062,578 |
Distributions to shareholders | ||
From earnings | ||
Class A | (2,477) | — |
Class C | (1,853) | — |
Class I | (135,553) | — |
Class R6 | (1,853) | — |
Class NAV | (7,675,564) | — |
Total distributions | (7,817,300) | — |
From fund share transactions | 29,597,328 | 209,663,820 |
Total increase (decrease) | (298,185) | 214,726,398 |
Net assets | ||
Beginning of period | 214,726,398 | — |
End of period | $214,428,213 | $214,726,398 |
1 | Period from 7-29-19 (commencement of operations) to 10-31-19. |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Diversified Macro Fund | 14 |
CLASS A SHARES Period ended | 4-30-201 | 10-31-192 |
Per share operating performance | ||
Net asset value, beginning of period | $10.22 | $10.00 |
Net investment income (loss)3 | (0.04) | 0.01 |
Net realized and unrealized gain (loss) on investments | (0.79) | 0.21 |
Total from investment operations | (0.83) | 0.22 |
Less distributions | ||
From net realized gain | (0.37) | — |
Net asset value, end of period | $9.02 | $10.22 |
Total return (%)4,5 | (8.44)6 | 2.206 |
Ratios and supplemental data | ||
Net assets, end of period (in millions) | $—7 | $—7 |
Ratios (as a percentage of average net assets): | ||
Expenses before reductions | 1.878 | 1.848 |
Expenses including reductions | 1.718 | 1.708 |
Net investment income (loss) | (0.80)8 | 0.238 |
Portfolio turnover (%) | 09 | 09 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 7-29-19 (commencement of operations) to 10-31-19. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Does not reflect the effect of sales charges, if any. |
6 | Not annualized. |
7 | Less than $500,000. |
8 | Annualized. |
9 | The calculation of portfolio turnover excludes amounts from securities whose maturities or expiration dates at the time of acquisition were one year or less, which represents a significant amount of the investments held by the fund. As a result, the portfolio turnover is 0%. |
15 | JOHN HANCOCK Diversified Macro Fund | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
CLASS C SHARES Period ended | 4-30-201 | 10-31-192 |
Per share operating performance | ||
Net asset value, beginning of period | $10.20 | $10.00 |
Net investment loss3 | (0.07) | (0.01) |
Net realized and unrealized gain (loss) on investments | (0.79) | 0.21 |
Total from investment operations | (0.86) | 0.20 |
Less distributions | ||
From net realized gain | (0.37) | — |
Net asset value, end of period | $8.97 | $10.20 |
Total return (%)4,5 | (8.86)6 | 2.006 |
Ratios and supplemental data | ||
Net assets, end of period (in millions) | $—7 | $—7 |
Ratios (as a percentage of average net assets): | ||
Expenses before reductions | 2.628 | 2.598 |
Expenses including reductions | 2.468 | 2.458 |
Net investment loss | (1.41)8 | (0.52)8 |
Portfolio turnover (%) | 09 | 09 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 7-29-19 (commencement of operations) to 10-31-19. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Does not reflect the effect of sales charges, if any. |
6 | Not annualized. |
7 | Less than $500,000. |
8 | Annualized. |
9 | The calculation of portfolio turnover excludes amounts from securities whose maturities or expiration dates at the time of acquisition were one year or less, which represents a significant amount of the investments held by the fund. As a result, the portfolio turnover is 0%. |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Diversified Macro Fund | 16 |
CLASS I SHARES Period ended | 4-30-201 | 10-31-192 |
Per share operating performance | ||
Net asset value, beginning of period | $10.23 | $10.00 |
Net investment income (loss)3 | (0.03) | 0.01 |
Net realized and unrealized gain (loss) on investments | (0.79) | 0.22 |
Total from investment operations | (0.82) | 0.23 |
Less distributions | ||
From net realized gain | (0.37) | — |
Net asset value, end of period | $9.04 | $10.23 |
Total return (%)4 | (8.33)5 | 2.305 |
Ratios and supplemental data | ||
Net assets, end of period (in millions) | $24 | $2 |
Ratios (as a percentage of average net assets): | ||
Expenses before reductions | 1.626 | 1.596 |
Expenses including reductions | 1.466 | 1.456 |
Net investment income (loss) | (0.59)6 | 0.306 |
Portfolio turnover (%) | 07 | 07 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 7-29-19 (commencement of operations) to 10-31-19. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Not annualized. |
6 | Annualized. |
7 | The calculation of portfolio turnover excludes amounts from securities whose maturities or expiration dates at the time of acquisition were one year or less, which represents a significant amount of the investments held by the fund. As a result, the portfolio turnover is 0%. |
17 | JOHN HANCOCK Diversified Macro Fund | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
CLASS R6 SHARES Period ended | 4-30-201 | 10-31-192 |
Per share operating performance | ||
Net asset value, beginning of period | $10.23 | $10.00 |
Net investment income (loss)3 | (0.03) | 0.02 |
Net realized and unrealized gain (loss) on investments | (0.78) | 0.21 |
Total from investment operations | (0.81) | 0.23 |
Less distributions | ||
From net realized gain | (0.37) | — |
Net asset value, end of period | $9.05 | $10.23 |
Total return (%)4 | (8.23)5 | 2.305 |
Ratios and supplemental data | ||
Net assets, end of period (in millions) | $15 | $—6 |
Ratios (as a percentage of average net assets): | ||
Expenses before reductions | 1.517 | 1.487 |
Expenses including reductions | 1.357 | 1.347 |
Net investment income (loss) | (0.56)7 | 0.597 |
Portfolio turnover (%) | 08 | 08 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 7-29-19 (commencement of operations) to 10-31-19. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Not annualized. |
6 | Less than $500,000. |
7 | Annualized. |
8 | The calculation of portfolio turnover excludes amounts from securities whose maturities or expiration dates at the time of acquisition were one year or less, which represents a significant amount of the investments held by the fund. As a result, the portfolio turnover is 0%. |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Diversified Macro Fund | 18 |
CLASS NAV SHARES Period ended | 4-30-201 | 10-31-192 |
Per share operating performance | ||
Net asset value, beginning of period | $10.23 | $10.00 |
Net investment income (loss)3 | (0.01) | 0.02 |
Net realized and unrealized gain (loss) on investments | (0.81) | 0.21 |
Total from investment operations | (0.82) | 0.23 |
Less distributions | ||
From net realized gain | (0.37) | — |
Net asset value, end of period | $9.04 | $10.23 |
Total return (%)4 | (8.33)5 | 2.305 |
Ratios and supplemental data | ||
Net assets, end of period (in millions) | $175 | $213 |
Ratios (as a percentage of average net assets): | ||
Expenses before reductions | 1.496 | 1.476 |
Expenses including reductions | 1.346 | 1.336 |
Net investment income (loss) | (0.25)6 | 0.606 |
Portfolio turnover (%) | 07 | 07 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 7-29-19 (commencement of operations) to 10-31-19. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Not annualized. |
6 | Annualized. |
7 | The calculation of portfolio turnover excludes amounts from securities whose maturities or expiration dates at the time of acquisition were one year or less, which represents a significant amount of the investments held by the fund. As a result, the portfolio turnover is 0%. |
19 | JOHN HANCOCK Diversified Macro Fund | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Notes to consolidated financial statements (unaudited) |
SEMIANNUAL REPORT | JOHN HANCOCK Diversified Macro Fund | 20 |
Total value at 4-30-20 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Short-term investments | $89,000,000 | — | $89,000,000 | — |
Total investments in securities | $89,000,000 | — | $89,000,000 | — |
Derivatives: | ||||
Assets | ||||
Futures | $9,467,099 | $9,237,552 | $229,547 | — |
Forward foreign currency contracts | 1,115,004 | — | 1,115,004 | — |
Liabilities | ||||
Futures | (2,986,087) | (2,986,087) | — | — |
Forward foreign currency contracts | (3,737,446) | — | (3,737,446) | — |
21 | JOHN HANCOCK Diversified Macro Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Diversified Macro Fund | 22 |
23 | JOHN HANCOCK Diversified Macro Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Diversified Macro Fund | 24 |
Risk | Consolidated statement of assets and liabilities location | Financial instruments location | Assets derivatives fair value | Liabilities derivatives fair value |
Interest rate | Receivable/payable for futures variation margin | Futures1 | $2,825,255 | $(1,301,916) |
Currency | Receivable/payable for futures variation margin | Futures1 | — | (82,696) |
Commodity | Receivable/payable for futures variation margin | Futures1 | 1,689,843 | (1,129,525) |
Equity | Receivable/payable for futures variation margin | Futures1 | 4,952,001 | (471,950) |
Currency | Unrealized appreciation / depreciation on forward foreign currency contracts | Forward foreign currency contracts | 1,115,004 | (3,737,446) |
$10,582,103 | $(6,723,533) |
1 | Reflects cumulative appreciation/depreciation on futures as disclosed in Consolidated Fund's investments. Only the period end variation margin is separately disclosed on the Consolidated statement of assets and liabilities. |
Consolidated statement of operations location - Net realized gain (loss) on: | |||
Risk | Futures contracts | Forward foreign currency contracts | Total |
Interest rate | $4,372,775 | — | $4,372,775 |
Currency | — | $(4,047,631) | (4,047,631) |
Commodity | 6,542,872 | — | 6,542,872 |
Equity | (30,907,150) | — | (30,907,150) |
Total | $(19,991,503) | $(4,047,631) | $(24,039,134) |
Consolidated statement of operations location - Change in net unrealized appreciation (depreciation) of: | |||
Risk | Futures contracts | Forward foreign currency contracts | Total |
Interest rate | $3,075,337 | — | $3,075,337 |
Currency | (39,973) | $(703,795) | (743,768) |
Commodity | 1,146,318 | — | 1,146,318 |
Equity | (1,169,990) | — | (1,169,990) |
Total | $3,011,692 | $(703,795) | $2,307,897 |
25 | JOHN HANCOCK Diversified Macro Fund | SEMIANNUAL REPORT |
Class | Expense reduction |
Class A | $68 |
Class C | 41 |
Class I | 15,078 |
Class | Expense reduction |
Class R6 | $8,070 |
Class NAV | 154,060 |
Total | $177,317 |
SEMIANNUAL REPORT | JOHN HANCOCK Diversified Macro Fund | 26 |
Class | Rule 12b-1 Fee |
Class A | 0.25% |
Class C | 1.00% |
Class | Distribution and service fees | Transfer agent fees |
Class A | $89 | $44 |
Class C | 252 | 32 |
Class I | — | 10,147 |
Class R6 | — | 528 |
Total | $341 | $10,751 |
27 | JOHN HANCOCK Diversified Macro Fund | SEMIANNUAL REPORT |
Six Months Ended 4-30-20 | Period ended 10-31-191 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 11,146 | $103,372 | 5,330 | $53,352 |
Distributions reinvested | 63 | 623 | — | — |
Repurchased | (5,579) | (51,588) | — | — |
Net increase | 5,630 | $52,407 | 5,330 | $53,352 |
Class C shares | ||||
Sold | 600 | $5,728 | 5,000 | $50,000 |
Net increase | 600 | $5,728 | 5,000 | $50,000 |
Class I shares | ||||
Sold | 3,035,577 | $29,661,234 | 178,142 | $1,814,500 |
Distributions reinvested | 13,679 | 135,553 | — | — |
Repurchased | (519,961) | (4,695,676) | (5,130) | (52,214) |
Net increase | 2,529,295 | $25,101,111 | 173,012 | $1,762,286 |
Class R6 shares | ||||
Sold | 1,857,775 | $18,078,206 | 5,000 | $50,000 |
Repurchased | (203,790) | (1,835,526) | — | — |
Net increase | 1,653,985 | $16,242,680 | 5,000 | $50,000 |
Class NAV shares | ||||
Sold | 733,165 | $6,925,370 | 22,445,196 | $224,465,959 |
Distributions reinvested | 773,746 | 7,675,564 | — | — |
Repurchased | (2,969,321) | (26,405,532) | (1,648,960) | (16,717,777) |
Net increase | (1,462,410) | $(11,804,598) | 20,796,236 | $207,748,182 |
Total net increase | 2,727,100 | $29,597,328 | 20,984,578 | $209,663,820 |
1 | Period from 7-29-19 (commencement of operations) to 10-31-19. |
SEMIANNUAL REPORT | JOHN HANCOCK Diversified Macro Fund | 28 |
Portfolio | Affiliated Concentration |
John Hancock Funds II Multimanager Lifestyle Growth Portfolio | 30.4% |
John Hancock Funds II Multimanager Lifestyle Balanced Portfolio | 20.5% |
John Hancock Funds II Alternative Asset Allocation | 17.7% |
John Hancock Funds II Multimanager Lifestyle Aggressive Portfolio | 12.9% |
29 | JOHN HANCOCK Diversified Macro Fund | SEMIANNUAL REPORT |
STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT
Operation of the Liquidity Risk Management Program
This section describes operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock Diversified Macro Fund, subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Fund's subadvisor, Graham Capital Management, L.P. (the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.
The Committee holds monthly meetings to: (1) review the day-to-day operations of the LRMP; (2) review and approve month end liquidity classifications; (3) review quarterly testing and determinations, as applicable; and (4) review other LRMP related material. The Committee also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Committee may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity and valuation issues.
The Committee provided the Board at a meeting held on March 15-17, 2020 with a written report which addressed the Committee's assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period December 1, 2018 through December 31, 2019, included an assessment of important aspects of the LRMP including, but not limited to:
• Operation of the Fund's Redemption-In-Kind Procedures;
• Highly Liquid Investment Minimum (HLIM) determination;
• Compliance with the 15% limit on illiquid investments;
• Reasonably Anticipated Trade Size (RATS) determination;
• Security-level liquidity classifications; and
• Liquidity risk assessment.
The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee's actions to address such matters.
Redemption-In-Kind Procedures
Rule 22e-4 requires any fund that engages in or reserves the right to engage in in-kind redemptions to adopt and implement written policies and procedures regarding in-kind redemptions as part of the management of its liquidity risk. These procedures address the process for redeeming in kind, as well as the circumstances under which the Fund would consider redeeming in kind. Anticipated large redemption activity will be evaluated to identify situations where redeeming in securities instead of cash may be appropriate.
As part of its annual assessment of the LRMP, the Committee reviewed the implementation and operation of the Redemption-In-Kind Procedures and determined they are operating in a manner that such procedures are adequate and effective to manage in-kind redemptions on behalf of the Fund as part of the LRMP.
Highly Liquid Investment Minimum determination
The Committee uses an HLIM model to determine a Fund's HLIM. This process incorporates the Fund's investment strategy, historical redemptions, liquidity classification rollup percentages and cash balances, redemption policy, access to funding sources, distribution channels and client concentrations. If the Fund falls below its established HLIM for a period greater than 7 consecutive calendar days, the Committee prepares a report to the Board within one business day following the seventh consecutive calendar day with an explanation of how the Fund plans to restore its HLIM within a reasonable period of time.
Based on the HLIM model, the Committee has determined that the Fund qualifies as a Primarily Highly Liquid Fund (PHLF). It is therefore not required to establish a HLIM. The Fund is tested quarterly to confirm its PHLF status.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to HLIM and PHLF determinations, and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Compliance with the 15% limit on illiquid investments
Rule 22e-4 sets an aggregate illiquid investment limit of 15% for a fund. Funds are prohibited from acquiring an illiquid investment if this results in greater than 15% of its net assets being classified as illiquid. When applying this limit, the Committee defines "illiquid investment" to mean any investment that the Fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. If a 15% illiquid investment limit breach occurs for longer than 1 business day, the Fund is required to notify the Board and provide a plan on how to bring illiquid investments within the 15% threshold, and after 7 days confidentially notify the Securities and Exchange Commission (the SEC).
In February 2019, as a result of extended security markets closures in connection with the Chinese New Year in certain countries, the SEC released guidance, and the Committee approved and adopted an Extended Market Holiday Policy to plan for and monitor known Extended Market Holidays (defined as all expected market holiday closures spanning four or more calendar days).
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to the 15% illiquid investment limit and determined such policies and procedures are operating in a manner that is adequate and effective as part of the LMRP.
Reasonably Anticipated Trade Size determination
In order to assess the liquidity risk of a Fund, the Committee considers the impact on the Fund that redemptions of a RATS would have under both normal and reasonably foreseeable stressed conditions. Modelling the Fund's RATS requires quantifying cash flow volatility and analyzing distribution channel concentration and redemption risk. The model is designed to estimate the amount of assets that the Fund could reasonably anticipate trading on a given day, during both normal and reasonably foreseeable stressed conditions, to satisfy redemption requests.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to RATS determinations and determined that such policies and procedures are operating in a manner that is adequate and effective at making RATS determinations as part of the LRMP.
Security-level liquidity classifications
When classifying the liquidity of portfolio securities, the Fund adheres to the liquidity classification procedures established by the Advisor. In assigning a liquidity classification to Fund portfolio holdings, the following key inputs, among others, are considered: the Fund's RATS, feedback from the applicable Subadvisor on market-, trading- and investment-specific considerations, an assessment of current market conditions and fund portfolio holdings, and a value impact standard. The Subadvisor also provides position-level data to the Committee for use in monthly classification reconciliation in order to identify any classifications that may need to be changed as a result of the above considerations.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to security-level liquidity classifications and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Liquidity risk assessment
The Committee periodically reviews and assesses, the Fund's liquidity risk, including its investment strategy and liquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions (including whether the investment strategy is appropriate for an open-end fund, the extent to which the strategy involves a relatively concentrated portfolio or large positions in particular issuers, and the use of borrowings for investment purposes and derivatives), cash flow analysis during both normal and reasonably foreseeable stressed conditions, and holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.
The Committee also monitors global events, such as the COVID-19 Coronavirus, that could impact the markets and liquidity of portfolio investments and their classifications.
As part of its annual assessment of the LRMP, the Committee reviewed Fund-Level Liquidity Risk Assessment Reports for each of the Funds and determined that the investment strategy for each Fund continues to be appropriate for an open-ended structure.
Adequacy and Effectiveness
Based on the review and assessment conducted by the Committee, the Committee has determined that the LRMP has been implemented, and is operating in a manner that is adequate and effective at assessing and managing the liquidity risk of each Fund.
Trustees Hassell H. McClellan,Chairperson Officers Andrew G. Arnott Francis V. Knox, Jr. Charles A. Rizzo Salvatore Schiavone Christopher (Kit) Sechler | Investment advisor John Hancock Investment Management LLC Subadvisor Graham Capital Management, L.P. Portfolio Managers Pablo E. Calderini Principal distributor John Hancock Investment Management Distributors LLC Custodian Citibank, N.A. Transfer agent John Hancock Signature Services, Inc. Legal counsel K&L Gates LLP |
* Member of the Audit Committee
† Non-Independent Trustee
The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund's holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund's Form N-PORT filings are available on our website and the SEC's website, sec.gov.
We make this information on your fund, as well asmonthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
You can also contact us: | |||
800-225-5291 jhinvestments.com | Regular mail: John Hancock Signature Services, Inc. | Express mail: John Hancock Signature Services, Inc. |
John Hancock family of funds
DOMESTIC EQUITY FUNDS Blue Chip Growth Classic Value Disciplined Value Disciplined Value Mid Cap Equity Income Financial Industries Fundamental All Cap Core Fundamental Large Cap Core New Opportunities Regional Bank Small Cap Core Small Cap Growth Small Cap Value U.S. Global Leaders Growth U.S. Quality Growth GLOBAL AND INTERNATIONAL EQUITY FUNDS Disciplined Value International Emerging Markets Emerging Markets Equity Fundamental Global Franchise Global Equity Global Shareholder Yield Global Thematic Opportunities International Dynamic Growth International Growth International Small Company | INCOME FUNDS Bond California Tax-Free Income Emerging Markets Debt Floating Rate Income Government Income High Yield High Yield Municipal Bond Income Investment Grade Bond Money Market Short Duration Bond Short Duration Credit Opportunities Strategic Income Opportunities Tax-Free Bond ALTERNATIVE AND SPECIALTY FUNDS Absolute Return Currency Alternative Asset Allocation Alternative Risk Premia Diversified Macro Infrastructure Multi-Asset Absolute Return Seaport Long/Short |
A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
ASSET ALLOCATION Balanced Multi-Asset High Income Multi-Index Lifetime Portfolios Multi-Index Preservation Portfolios Multimanager Lifestyle Portfolios Multimanager Lifetime Portfolios Retirement Income 2040 EXCHANGE-TRADED FUNDS John Hancock Multifactor Consumer Discretionary ETF John Hancock Multifactor Consumer Staples ETF John Hancock Multifactor Developed International ETF John Hancock Multifactor Emerging Markets ETF John Hancock Multifactor Energy ETF John Hancock Multifactor Financials ETF John Hancock Multifactor Healthcare ETF John Hancock Multifactor Industrials ETF John Hancock Multifactor Large Cap ETF John Hancock Multifactor Materials ETF John Hancock Multifactor Media and John Hancock Multifactor Mid Cap ETF John Hancock Multifactor Small Cap ETF John Hancock Multifactor Technology ETF John Hancock Multifactor Utilities ETF | ENVIRONMENTAL, SOCIAL, AND ESG All Cap Core ESG Core Bond ESG International Equity ESG Large Cap Core CLOSED-END FUNDS Financial Opportunities Hedged Equity & Income Income Securities Trust Investors Trust Preferred Income Preferred Income II Preferred Income III Premium Dividend Tax-Advantaged Dividend Income Tax-Advantaged Global Shareholder Yield |
John Hancock Multifactor ETF shares are bought and sold at market price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Investment Management Distributors LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock Multifactor ETFs.
John Hancock Investment Management
A trusted brand
John Hancock Investment Management is a premier asset manager
representing one of America's most trusted brands, with a heritage of
financial stewardship dating back to 1862. Helping our shareholders
pursue their financial goals is at the core of everything we do. It's why
we support the role of professional financial advice and operate with
the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world's best
managers, along with strong risk-adjusted returns across asset classes.
John Hancock Investment Management Distributors LLC n Member FINRA, SIPC
200 Berkeley Street n Boston, MA 02116-5010 n 800-225-5291 n jhinvestments.com
This report is for the information of the shareholders of John Hancock Diversified Macro Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF1182592 | 473SA 4/20 6/2020 |
John Hancock
International Dynamic Growth Fund
Semiannual report 4/30/2020
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the fund's shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change, and you do not need to take any action. You may elect to receive shareholder reports and other communications electronically by calling John Hancock Investment Management at 800-225-5291 (Class A and Class C shares) or 888-972-8696 (Class I and Class R6 shares) or by contacting your financial intermediary.
You may elect to receive all reports in paper, free of charge, at any time. You can inform John Hancock Investment Management or your financial intermediary that you wish to continue receiving paper copies of your shareholder reports by following the instructions listed above. Your election to receive reports in paper will apply to all funds held with John Hancock Investment Management or your financial intermediary.
A message to shareholders
Dear shareholder,
Global financial markets were on pace to deliver strong returns during the 6 months ended April 30, 2020, until heightened fears over the coronavirus (COVID-19) sent markets tumbling during the latter half of February and early March.In response to the sell-off, governments and banks in some of the hardest hit areas throughout the world enacted policies and stimulus efforts designed to reignite their respective economies. While these measures helped lift equity and fixed-income markets in the United States during the final six weeks of the period, results were mixed in other areas of the world.
The continued spread of COVID-19, trade disputes, rising unemployment, and other geopolitical tensions may continue to create uncertainty among businesses and investors. Your financial professional can helpposition your portfolio so that it's sufficiently diversified to seek to meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I'd like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you've placed in us.
Sincerely,
Andrew G. Arnott
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO's views as of this report's period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
International Dynamic Growth Fund
INVESTMENT OBJECTIVE
The fund seeks capital appreciation.
TOTAL RETURNS AS OF 4/30/2020 (%)
Class A shares were first offered on 5-3-19. Returns prior to this date are those of Class NAV shares that have not been adjusted for class specific expenses; otherwise, returns would vary.
The MSCI All Country World ex-USA Growth Index is a free float-adjusted market capitalization index that is designed to measure the equity performance of growth-oriented stocks in developed (excluding the U.S.) and emerging markets.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus. The fund recently experienced negative short-term performance due to market volatility associated with the COVID-19 pandemic.
SECTOR COMPOSITION AS OF 4/30/2020 (%)
TOP 10 HOLDINGS AS OF 4/30/2020 (%)
Alibaba Group Holding, Ltd., ADR | 5.1 |
ASML Holding NV | 4.4 |
Taiwan Semiconductor Manufacturing Company, Ltd., ADR | 4.4 |
Kobe Bussan Company, Ltd. | 3.5 |
Keyence Corp. | 3.4 |
Roche Holding AG | 3.4 |
Visa, Inc., Class A | 3.3 |
Adobe, Inc. | 3.1 |
JD.com, Inc., ADR | 2.8 |
iShares Core MSCI Total International Stock ETF | 2.6 |
TOTAL | 36.0 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
TOP 10 COUNTRIES AS OF 4/30/2020 (%)
United States | 14.2 |
China | 13.9 |
Japan | 12.8 |
Netherlands | 8.8 |
Switzerland | 8.7 |
France | 6.8 |
Taiwan | 4.4 |
Germany | 4.4 |
Sweden | 3.7 |
Denmark | 3.3 |
TOTAL | 81.0 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
A note about risks
The fund may be subject to various risks as described in the fund's prospectus. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange trading suspensions and closures, impact the ability to complete redemptions, and affect fund performance. For example, the novel coronavirus disease (COVID-19) has resulted in significant disruptions to global business activity. The impact of a health crisis and other epidemics and pandemics that may arise in the future, could affect the global economy in ways that cannot necessarily be foreseen at the present time. A health crisis may exacerbate other pre-existing political, social, and economic risks. Any such impact could adversely affect the funds' performance, resulting in losses to your investment. For more information, please refer to the "Principal risks" section of the prospectus.
TOTAL RETURNS FOR THE PERIOD ENDED APRIL 30, 2020
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | ||||||
1-year | Since inception1 | 6-month | Since inception1 | ||||
Class A2 | -4.27 | -2.80 | -7.31 | -2.91 | |||
Class C2 | -1.10 | 1.35 | -3.84 | 1.40 | |||
Class I2,3 | 0.99 | 2.42 | -2.37 | 2.51 | |||
Class R62,3 | 1.06 | 2.48 | -2.31 | 2.58 | |||
Class NAV3 | 1.07 | 2.49 | -2.30 | 2.58 | |||
Index† | -2.38 | -1.98 | -6.10 | -2.06 |
Performance figures assume all distributions are reinvested. Figures reflect maximum sales charges on Class A shares of 5% and the applicable contingent deferred sales charge (CDSC) on Class C shares. Class C shares sold within one year of purchase are subject to a 1% CDSC. Sales charges are not applicable to Class I, Class R6, and Class NAV shares.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectuses for the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until February 28, 2021 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Class A | Class C | Class I | Class R6 | Class NAV | |
Gross (%) | 1.30 | 2.05 | 1.05 | 0.94 | 0.93 |
Net (%) | 1.20 | 1.95 | 0.95 | 0.84 | 0.83 |
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.
The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.
The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.
† | Index is the MSCI All Country World ex-USA Growth Index. |
See the following page for footnotes.
This chart and table show what happened to a hypothetical $10,000 investment in John Hancock International Dynamic Growth Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in MSCI All Country World ex-USA Growth Index.
Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class C2 | 4-17-19 | 10,140 | 10,140 | 9,794 |
Class I2,3 | 4-17-19 | 10,251 | 10,251 | 9,794 |
Class R62,3 | 4-17-19 | 10,258 | 10,258 | 9,794 |
Class NAV3 | 4-17-19 | 10,258 | 10,258 | 9,794 |
The MSCI All Country World ex-USA Growth Index is a free float-adjusted market capitalization index that is designed to measure the equity performance of growth-oriented stocks in developed (excluding the U.S.) and emerging markets.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Footnotes related to performance pages
1 | From 4-17-19. |
2 | Class A, Class C, Class I, and Class R6 shares were first offered on 5-3-19. Returns prior to this date are those of Class NAV shares that have not been adjusted for class-specific expenses; otherwise, returns would vary. |
3 | For certain types of investors, as described in the fund's prospectuses. |
Your expenses |
SEMIANNUAL REPORT | JOHN HANCOCK INTERNATIONAL DYNAMIC GROWTH FUND | 7 |
Account value on 11-1-2019 | Ending value on 4-30-2020 | Expenses paid during period ended 4-30-20201 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $975.60 | $5.94 | 1.21% |
Hypothetical example | 1,000.00 | 1,018.80 | 6.07 | 1.21% | |
Class C | Actual expenses/actual returns | 1,000.00 | 971.30 | 9.56 | 1.95% |
Hypothetical example | 1,000.00 | 1,015.20 | 9.77 | 1.95% | |
Class I | Actual expenses/actual returns | 1,000.00 | 976.30 | 4.72 | 0.96% |
Hypothetical example | 1,000.00 | 1,020.10 | 4.82 | 0.96% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 976.90 | 4.13 | 0.84% |
Hypothetical example | 1,000.00 | 1,020.70 | 4.22 | 0.84% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 977.00 | 4.08 | 0.83% |
Hypothetical example | 1,000.00 | 1,020.70 | 4.17 | 0.83% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period). |
8 | JOHN HANCOCK INTERNATIONAL DYNAMIC GROWTH FUND | SEMIANNUAL REPORT |
Fund’s investments |
Shares | Value | ||||
Common stocks 97.1% | $266,819,918 | ||||
(Cost $236,950,737) | |||||
Australia 2.6% | 7,200,969 | ||||
Atlassian Corp. PLC, Class A (A) | 19,000 | 2,954,310 | |||
CSL, Ltd. | 21,305 | 4,246,659 | |||
Belgium 1.5% | 4,091,515 | ||||
UCB SA | 44,648 | 4,091,515 | |||
Brazil 1.2% | 3,291,155 | ||||
Magazine Luiza SA | 360,100 | 3,291,155 | |||
Canada 2.1% | 5,832,828 | ||||
Lululemon Athletica, Inc. (A) | 26,100 | 5,832,828 | |||
China 13.6% | 37,503,127 | ||||
Alibaba Group Holding, Ltd., ADR (A) | 69,000 | 13,984,230 | |||
JD.com, Inc., ADR (A) | 181,000 | 7,801,100 | |||
Kweichow Moutai Company, Ltd., Class A | 17,556 | 3,127,495 | |||
Li Ning Company, Ltd. | 1,378,500 | 4,352,578 | |||
Ping An Insurance Group Company of China, Ltd., H Shares | 171,000 | 1,740,141 | |||
Tencent Holdings, Ltd. | 123,600 | 6,497,583 | |||
Denmark 3.3% | 8,992,843 | ||||
Coloplast A/S, B Shares | 16,859 | 2,659,068 | |||
Novo Nordisk A/S, B Shares | 99,291 | 6,333,775 | |||
France 6.8% | 18,793,394 | ||||
Airbus SE (A) | 10,783 | 682,767 | |||
Dassault Systemes SE | 17,411 | 2,550,208 | |||
Ingenico Group SA | 21,257 | 2,674,520 | |||
L'Oreal SA | 12,989 | 3,776,453 | |||
LVMH Moet Hennessy Louis Vuitton SE | 11,180 | 4,322,127 | |||
Teleperformance | 21,371 | 4,787,319 | |||
Germany 4.4% | 11,969,149 | ||||
Carl Zeiss Meditec AG, Bearer Shares | 12,930 | 1,275,005 | |||
CTS Eventim AG & Company KGaA | 15,726 | 653,761 | |||
Deutsche Boerse AG | 35,584 | 5,516,912 | |||
Puma SE (A) | 22,969 | 1,442,816 | |||
TeamViewer AG (A) | 71,110 | 3,080,655 | |||
Hong Kong 1.0% | 2,632,184 | ||||
AIA Group, Ltd. | 286,800 | 2,632,184 | |||
Indonesia 0.4% | 1,066,115 | ||||
Bank Rakyat Indonesia Persero Tbk PT | 5,861,400 | 1,066,115 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK INTERNATIONAL DYNAMIC GROWTH FUND | 9 |
Shares | Value | ||||
Ireland 1.3% | $3,516,778 | ||||
Experian PLC | 117,108 | 3,516,778 | |||
Israel 1.6% | 4,255,370 | ||||
Nice, Ltd., ADR (A)(B) | 25,900 | 4,255,370 | |||
Italy 1.1% | 3,149,584 | ||||
Ferrari NV | 6,900 | 1,073,778 | |||
Nexi SpA (A)(C) | 136,841 | 2,075,806 | |||
Japan 12.8% | 35,046,664 | ||||
Anritsu Corp. (B) | 295,800 | 6,021,155 | |||
Keyence Corp. | 26,050 | 9,300,166 | |||
Kobe Bussan Company, Ltd. | 200,800 | 9,700,444 | |||
Lasertec Corp. | 42,500 | 2,810,803 | |||
Sony Corp. | 112,100 | 7,214,096 | |||
Netherlands 8.8% | 24,115,563 | ||||
Adyen NV (A)(C) | 6,796 | 6,718,565 | |||
ASML Holding NV (B) | 41,810 | 12,212,144 | |||
Wolters Kluwer NV (B) | 70,396 | 5,184,854 | |||
New Zealand 1.5% | 4,248,557 | ||||
Xero, Ltd. (A) | 83,100 | 4,248,557 | |||
South Korea 1.9% | 5,096,078 | ||||
SK Hynix, Inc. | 74,052 | 5,096,078 | |||
Sweden 3.7% | 10,113,557 | ||||
Atlas Copco AB, A Shares | 171,390 | 5,906,867 | |||
Evolution Gaming Group AB (C) | 91,856 | 4,206,690 | |||
Switzerland 8.7% | 23,991,320 | ||||
Lonza Group AG | 14,241 | 6,218,554 | |||
Nestle SA | 67,963 | 7,197,963 | |||
Roche Holding AG | 26,659 | 9,231,942 | |||
Straumann Holding AG | 1,765 | 1,342,861 | |||
Taiwan 4.4% | 12,209,274 | ||||
Taiwan Semiconductor Manufacturing Company, Ltd., ADR | 229,800 | 12,209,274 | |||
United Kingdom 2.8% | 7,809,361 | ||||
AstraZeneca PLC | 54,355 | 5,685,074 | |||
Rentokil Initial PLC | 357,048 | 2,124,287 | |||
United States 11.6% | 31,894,533 | ||||
Adobe, Inc. (A) | 23,880 | 8,444,920 | |||
Alphabet, Inc., Class A (A) | 1,315 | 1,770,911 | |||
Microsoft Corp. | 37,880 | 6,788,475 | |||
ServiceNow, Inc. (A) | 16,480 | 5,793,379 |
10 | JOHN HANCOCK INTERNATIONAL DYNAMIC GROWTH FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
United States (continued) | |||||
Visa, Inc., Class A | 50,900 | $9,096,848 | |||
Exchange-traded funds 2.6% | $7,310,820 | ||||
(Cost $7,211,429) | |||||
iShares Core MSCI Total International Stock ETF (B) | 145,200 | 7,310,820 | |||
Participatory notes 0.3% | $712,576 | ||||
(Cost $564,440) | |||||
Kweichow Moutai Company, Ltd., issued by HSBC Bank PLC, 12-04-24 (A) | 4,000 | 712,576 | |||
Yield (%) | Shares | Value | |||
Short-term investments 9.9% | $27,074,627 | ||||
(Cost $27,061,631) | |||||
Short-term funds 9.9% | 27,074,627 | ||||
John Hancock Collateral Trust (D) | 0.6614(E) | 2,705,190 | 27,074,627 |
Total investments (Cost $271,788,237) 109.9% | $301,917,941 | ||||
Other assets and liabilities, net (9.9%) | (27,076,617) | ||||
Total net assets 100.0% | $274,841,324 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
Security Abbreviations and Legend | |
ADR | American Depositary Receipt |
(A) | Non-income producing security. |
(B) | All or a portion of this security is on loan as of 4-30-20. |
(C) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
(D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |
(E) | The rate shown is the annualized seven-day yield as of 4-30-20. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK INTERNATIONAL DYNAMIC GROWTH FUND | 11 |
Financial statements |
Assets | |
Unaffiliated investments, at value (Cost $244,726,606) including $25,833,612 of securities loaned | $274,843,314 |
Affiliated investments, at value (Cost $27,061,631) | 27,074,627 |
Total investments, at value (Cost $271,788,237) | 301,917,941 |
Cash | 1,277,224 |
Foreign currency, at value (Cost $206,199) | 206,254 |
Dividends and interest receivable | 385,443 |
Receivable for fund shares sold | 12,272 |
Receivable for investments sold | 6,160,618 |
Receivable for securities lending income | 20,587 |
Receivable from affiliates | 658 |
Other assets | 91,157 |
Total assets | 310,072,154 |
Liabilities | |
Payable for investments purchased | 7,376,900 |
Payable for fund shares repurchased | 700,000 |
Payable upon return of securities loaned | 27,067,802 |
Payable to affiliates | |
Accounting and legal services fees | 12,516 |
Transfer agent fees | 1,358 |
Trustees' fees | 549 |
Other liabilities and accrued expenses | 71,705 |
Total liabilities | 35,230,830 |
Net assets | $274,841,324 |
Net assets consist of | |
Paid-in capital | $266,216,754 |
Total distributable earnings (loss) | 8,624,570 |
Net assets | $274,841,324 |
12 | JOHN HANCOCK International Dynamic Growth Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Net asset value per share | |
Based on net asset value and shares outstanding - the fund has an unlimited number of shares authorized with no par value | |
Class A ($1,763,917 ÷ 172,633 shares)1 | $10.22 |
Class C ($85,303 ÷ 8,408 shares)1 | $10.15 |
Class I ($10,942,727 ÷ 1,069,645 shares) | $10.23 |
Class R6 ($50,699 ÷ 4,955 shares) | $10.23 |
Class NAV ($261,998,678 ÷ 25,601,094 shares) | $10.23 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $10.76 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK International Dynamic Growth Fund | 13 |
Investment income | |
Dividends | $1,370,222 |
Securities lending | 149,109 |
Interest | 115,618 |
Less foreign taxes withheld | (152,527) |
Total investment income | 1,482,422 |
Expenses | |
Investment management fees | 1,285,152 |
Distribution and service fees | 1,804 |
Accounting and legal services fees | 29,250 |
Transfer agent fees | 3,530 |
Trustees' fees | 2,056 |
Custodian fees | 67,945 |
State registration fees | 46,344 |
Printing and postage | 8,407 |
Professional fees | 49,930 |
Other | 2,603 |
Total expenses | 1,497,021 |
Less expense reductions | (174,304) |
Net expenses | 1,322,717 |
Net investment income | 159,705 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | (14,253,587) |
Affiliated investments | (6,107) |
(14,259,694) | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | 8,768,171 |
Affiliated investments | 13,289 |
8,781,460 | |
Net realized and unrealized loss | (5,478,234) |
Decrease in net assets from operations | $(5,318,529) |
14 | JOHN HANCOCK International Dynamic Growth Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Six months ended 4-30-20 (unaudited) | Period ended 10-31-191 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $159,705 | $934,951 |
Net realized loss | (14,259,694) | (7,397,617) |
Change in net unrealized appreciation (depreciation) | 8,781,460 | 21,339,178 |
Increase (decrease) in net assets resulting from operations | (5,318,529) | 14,876,512 |
Distributions to shareholders | ||
From earnings | ||
Class A | (303) | — |
Class I | (272) | — |
Class R6 | (148) | — |
Class NAV | (948,844) | — |
Total distributions | (949,567) | — |
From fund share transactions | (56,859,770) | 323,092,678 |
Total increase (decrease) | (63,127,866) | 337,969,190 |
Net assets | ||
Beginning of period | 337,969,190 | — |
End of period | $274,841,324 | $337,969,190 |
1 | Period from 4-17-19 (commencement of operations) to 10-31-19. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK International Dynamic Growth Fund | 15 |
Financial highlights |
CLASS A SHARES | Period ended 4-30-201 | Period ended 10-31-192 |
Per share operating performance | ||
Net asset value, beginning of period | $10.48 | $10.09 |
Net investment loss3 | —4 | (0.02) |
Net realized and unrealized gain (loss) on investments | (0.26) | 0.41 |
Total from investment operations | (0.26) | 0.39 |
Less distributions | ||
From net investment income | —4 | — |
Net asset value, end of period | $10.22 | $10.48 |
Total return (%)5,6 | (2.44)7 | 3.877 |
Ratios and supplemental data | ||
Net assets, end of period (in millions) | $2 | $1 |
Ratios (as a percentage of average net assets): | ||
Expenses before reductions | 1.328 | 1.338 |
Expenses including reductions | 1.218 | 1.208 |
Net investment loss | (0.05)8 | (0.31)8 |
Portfolio turnover (%) | 69 | 48 |
1 | Six months ended 4-30-20. Unaudited. |
2 | The inception date for Class A shares is 5-3-19. |
3 | Based on average daily shares outstanding. |
4 | Less than $0.005 per share. |
5 | Total returns would have been lower had certain expenses not been reduced during the period. |
6 | Does not reflect the effect of sales charges, if any. |
7 | Not annualized. |
8 | Annualized. |
16 | JOHN HANCOCK International Dynamic Growth Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS C SHARES | Period ended 4-30-201 | Period ended 10-31-192 |
Per share operating performance | ||
Net asset value, beginning of period | $10.44 | $10.09 |
Net investment loss3 | (0.05) | (0.04) |
Net realized and unrealized gain (loss) on investments | (0.24) | 0.39 |
Total from investment operations | (0.29) | 0.35 |
Net asset value, end of period | $10.15 | $10.44 |
Total return (%)4,5 | (2.87)6 | 3.476 |
Ratios and supplemental data | ||
Net assets, end of period (in millions) | $—7 | $—7 |
Ratios (as a percentage of average net assets): | ||
Expenses before reductions | 2.068 | 2.088 |
Expenses including reductions | 1.958 | 1.958 |
Net investment loss | (0.96)8 | (0.75)8 |
Portfolio turnover (%) | 69 | 48 |
1 | Six months ended 4-30-20. Unaudited. |
2 | The inception date for Class C shares is 5-3-19. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the period. |
5 | Does not reflect the effect of sales charges, if any. |
6 | Not annualized. |
7 | Less than $500,000. |
8 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK International Dynamic Growth Fund | 17 |
CLASS I SHARES | Period ended 4-30-201 | Period ended 10-31-192 |
Per share operating performance | ||
Net asset value, beginning of period | $10.50 | $10.09 |
Net investment income3 | 0.03 | 0.02 |
Net realized and unrealized gain (loss) on investments | (0.28) | 0.38 |
Total from investment operations | (0.25) | 0.40 |
Less distributions | ||
From net investment income | (0.02) | — |
Net asset value, end of period | $10.23 | $10.50 |
Total return (%)4 | (2.37)5 | 4.065 |
Ratios and supplemental data | ||
Net assets, end of period (in millions) | $11 | $—6 |
Ratios (as a percentage of average net assets): | ||
Expenses before reductions | 1.077 | 1.087 |
Expenses including reductions | 0.967 | 0.957 |
Net investment income | 0.697 | 0.317 |
Portfolio turnover (%) | 69 | 48 |
1 | Six months ended 4-30-20. Unaudited. |
2 | The inception date for Class I shares is 5-3-19. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the period. |
5 | Not annualized. |
6 | Less than $500,000. |
7 | Annualized. |
18 | JOHN HANCOCK International Dynamic Growth Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R6 SHARES | Period ended 4-30-201 | Period ended 10-31-192 |
Per share operating performance | ||
Net asset value, beginning of period | $10.50 | $10.09 |
Net investment income3 | 0.01 | 0.02 |
Net realized and unrealized gain (loss) on investments | (0.25) | 0.39 |
Total from investment operations | (0.24) | 0.41 |
Less distributions | ||
From net investment income | (0.03) | — |
Net asset value, end of period | $10.23 | $10.50 |
Total return (%)4 | (2.31)5 | 4.065 |
Ratios and supplemental data | ||
Net assets, end of period (in millions) | $—6 | $—6 |
Ratios (as a percentage of average net assets): | ||
Expenses before reductions | 0.957 | 0.987 |
Expenses including reductions | 0.847 | 0.847 |
Net investment income | 0.117 | 0.457 |
Portfolio turnover (%) | 69 | 48 |
1 | Six months ended 4-30-20. Unaudited. |
2 | The inception date for Class R6 shares is 5-3-19. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the period. |
5 | Not annualized. |
6 | Less than $500,000. |
7 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK International Dynamic Growth Fund | 19 |
CLASS NAV SHARES | Period ended 4-30-201 | Period ended 10-31-192 |
Per share operating performance | ||
Net asset value, beginning of period | $10.50 | $10.00 |
Net investment income3 | —4 | 0.03 |
Net realized and unrealized gain (loss) on investments | (0.24) | 0.47 |
Total from investment operations | (0.24) | 0.50 |
Less distributions | ||
From net investment income | (0.03) | — |
Net asset value, end of period | $10.23 | $10.50 |
Total return (%)5 | (2.30)6 | 5.006 |
Ratios and supplemental data | ||
Net assets, end of period (in millions) | $262 | $337 |
Ratios (as a percentage of average net assets): | ||
Expenses before reductions | 0.947 | 0.967 |
Expenses including reductions | 0.837 | 0.837 |
Net investment income | 0.097 | 0.627 |
Portfolio turnover (%) | 69 | 48 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 4-17-19 (commencement of operations) to 10-31-19. |
3 | Based on average daily shares outstanding. |
4 | Less than $0.005 per share. |
5 | Total returns would have been lower had certain expenses not been reduced during the period. |
6 | Not annualized. |
7 | Annualized. |
20 | JOHN HANCOCK International Dynamic Growth Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Notes to financial statements (unaudited) |
SEMIANNUAL REPORT | JOHN HANCOCK International Dynamic Growth Fund | 21 |
Total value at 4-30-20 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Australia | $7,200,969 | $2,954,310 | $4,246,659 | — |
Belgium | 4,091,515 | — | 4,091,515 | — |
Brazil | 3,291,155 | 3,291,155 | — | — |
Canada | 5,832,828 | 5,832,828 | — | — |
China | 37,503,127 | 21,785,330 | 15,717,797 | — |
Denmark | 8,992,843 | — | 8,992,843 | — |
France | 18,793,394 | — | 18,793,394 | — |
Germany | 11,969,149 | — | 11,969,149 | — |
Hong Kong | 2,632,184 | — | 2,632,184 | — |
Indonesia | 1,066,115 | — | 1,066,115 | — |
Ireland | 3,516,778 | — | 3,516,778 | — |
Israel | 4,255,370 | 4,255,370 | — | — |
Italy | 3,149,584 | 1,073,778 | 2,075,806 | — |
Japan | 35,046,664 | — | 35,046,664 | — |
Netherlands | 24,115,563 | — | 24,115,563 | — |
New Zealand | 4,248,557 | — | 4,248,557 | — |
South Korea | 5,096,078 | — | 5,096,078 | — |
Sweden | 10,113,557 | — | 10,113,557 | — |
Switzerland | 23,991,320 | — | 23,991,320 | — |
Taiwan | 12,209,274 | 12,209,274 | — | — |
United Kingdom | 7,809,361 | — | 7,809,361 | — |
United States | 31,894,533 | 31,894,533 | — | — |
22 | JOHN HANCOCK International Dynamic Growth Fund | SEMIANNUAL REPORT |
Total value at 4-30-20 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Exchange-traded funds | $7,310,820 | $7,310,820 | — | — |
Participatory notes | 712,576 | — | $712,576 | — |
Short-term investments | 27,074,627 | 27,074,627 | — | — |
Total investments in securities | $301,917,941 | $117,682,025 | $184,235,916 | — |
SEMIANNUAL REPORT | JOHN HANCOCK International Dynamic Growth Fund | 23 |
24 | JOHN HANCOCK International Dynamic Growth Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK International Dynamic Growth Fund | 25 |
Class | Expense reduction |
Class A | $664 |
Class C | 45 |
Class I | 2,855 |
Class | Expense reduction |
Class R6 | $29 |
Class NAV | 170,711 |
Total | $174,304 |
Class | Rule 12b-1 Fee |
Class A | 0.25% |
Class C | 1.00% |
26 | JOHN HANCOCK International Dynamic Growth Fund | SEMIANNUAL REPORT |
Class | Distribution and service fees | Transfer agent fees |
Class A | $1,410 | $710 |
Class C | 394 | 50 |
Class I | — | 2,767 |
Class R6 | — | 3 |
Total | $1,804 | $3,530 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Borrower | $6,028,500 | 2 | 0.525% | $(176) |
Lender | 6,103,044 | 1 | 1.550% | 263 |
Six Months Ended 4-30-20 | Period ended 10-31-191 | |||
Shares | Amount | Shares | Amount | |
Class A shares2 | ||||
Sold | 149,944 | $1,641,085 | 65,429 | $661,130 |
Distributions reinvested | 28 | 303 | — | — |
Repurchased | (33,424) | (353,662) | (9,344) | (96,269) |
Net increase | 116,548 | $1,287,726 | 56,085 | $564,861 |
Class C shares2 | ||||
Sold | 1,375 | $14,997 | 7,184 | $72,084 |
Repurchased | (151) | (1,498) | — | — |
Net increase | 1,224 | $13,499 | 7,184 | $72,084 |
Class I shares2 | ||||
Sold | 1,213,928 | $14,088,566 | 7,286 | $74,050 |
Distributions reinvested | 15 | 161 | — | — |
Repurchased | (151,584) | (1,450,519) | — | — |
Net increase | 1,062,359 | $12,638,208 | 7,286 | $74,050 |
SEMIANNUAL REPORT | JOHN HANCOCK International Dynamic Growth Fund | 27 |
Six Months Ended 4-30-20 | Period ended 10-31-191 | |||
Shares | Amount | Shares | Amount | |
Class R6 shares2 | ||||
Sold | — | — | 4,955 | $50,000 |
Net increase | — | — | 4,955 | $50,000 |
Class NAV shares | ||||
Sold | 449,476 | $4,265,496 | 34,497,810 | $346,799,399 |
Distributions reinvested | 86,494 | 948,844 | — | — |
Repurchased | (7,038,893) | (76,013,543) | (2,393,793) | (24,467,716) |
Net increase | (6,502,923) | $(70,799,203) | 32,104,017 | $322,331,683 |
Total net increase (decrease) | (5,322,792) | $(56,859,770) | 32,179,527 | $323,092,678 |
1 | Period from 4-17-19 (commencement of operations) to 10-31-19. |
2 | The inception date for Class A, Class C, Class I and Class R6 shares is 5-3-19. |
Portfolio | Affiliated Concentration |
John Hancock Funds II Multimanager Lifestyle Growth Portfolio | 36.5% |
John Hancock Funds II Multimanager Lifestyle Balanced Portfolio | 26.4% |
John Hancock Funds II Multimanager Lifestyle Aggressive Portfolio | 15.5% |
28 | JOHN HANCOCK International Dynamic Growth Fund | SEMIANNUAL 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* | 2,705,190 | $10,468,469 | $61,500,619 | $(44,901,643) | $(6,107) | $13,289 | $149,109 | — | $27,074,627 |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
SEMIANNUAL REPORT | JOHN HANCOCK International Dynamic Growth Fund | 29 |
STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT
Operation of the Liquidity Risk Management Program
This section describes operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock International Dynamic Growth Fund, subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Fund's subadvisor, Axiom International Investors LLC (the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.
The Committee holds monthly meetings to: (1) review the day-to-day operations of the LRMP; (2) review and approve month end liquidity classifications; (3) review quarterly testing and determinations, as applicable; and (4) review other LRMP related material. The Committee also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Committee may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity and valuation issues.
The Committee provided the Board at a meeting held on March 15-17, 2020 with a written report which addressed the Committee's assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period December 1, 2018 through December 31, 2019, included an assessment of important aspects of the LRMP including, but not limited to:
• Operation of the Fund's Redemption-In-Kind Procedures;
• Highly Liquid Investment Minimum (HLIM) determination;
• Compliance with the 15% limit on illiquid investments;
• Reasonably Anticipated Trade Size (RATS) determination;
• Security-level liquidity classifications; and
• Liquidity risk assessment.
The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee's actions to address such matters.
Redemption-In-Kind Procedures
Rule 22e-4 requires any fund that engages in or reserves the right to engage in in-kind redemptions to adopt and implement written policies and procedures regarding in-kind redemptions as part of the management of its liquidity risk. These procedures address the process for redeeming in kind, as well as the circumstances under which the Fund would consider redeeming in kind. Anticipated large redemption activity will be evaluated to identify situations where redeeming in securities instead of cash may be appropriate.
As part of its annual assessment of the LRMP, the Committee reviewed the implementation and operation of the Redemption-In-Kind Procedures and determined they are operating in a manner that such procedures are adequate and effective to manage in-kind redemptions on behalf of the Fund as part of the LRMP.
Highly Liquid Investment Minimum determination
The Committee uses an HLIM model to determine a Fund's HLIM. This process incorporates the Fund's investment strategy, historical redemptions, liquidity classification rollup percentages and cash balances, redemption policy, access to funding sources, distribution channels and client concentrations. If the Fund falls below its established HLIM for a period greater than 7 consecutive calendar days, the Committee prepares a report to the Board within one business day following the seventh consecutive calendar day with an explanation of how the Fund plans to restore its HLIM within a reasonable period of time.
Based on the HLIM model, the Committee has determined that the Fund qualifies as a Primarily Highly Liquid Fund (PHLF). It is therefore not required to establish a HLIM. The Fund is tested quarterly to confirm its PHLF status.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to HLIM and PHLF determinations, and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Compliance with the 15% limit on illiquid investments
Rule 22e-4 sets an aggregate illiquid investment limit of 15% for a fund. Funds are prohibited from acquiring an illiquid investment if this results in greater than 15% of its net assets being classified as illiquid. When applying this limit, the Committee defines "illiquid investment" to mean any investment that the Fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. If a 15% illiquid investment limit breach occurs for longer than 1 business day, the Fund is required to notify the Board and provide a plan on how to bring illiquid investments within the 15% threshold, and after 7 days confidentially notify the Securities and Exchange Commission (the SEC).
In February 2019, as a result of extended security markets closures in connection with the Chinese New Year in certain countries, the SEC released guidance, and the Committee approved and adopted an Extended Market Holiday Policy to plan for and monitor known Extended Market Holidays (defined as all expected market holiday closures spanning four or more calendar days).
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to the 15% illiquid investment limit and determined such policies and procedures are operating in a manner that is adequate and effective as part of the LMRP.
Reasonably Anticipated Trade Size determination
In order to assess the liquidity risk of a Fund, the Committee considers the impact on the Fund that redemptions of a RATS would have under both normal and reasonably foreseeable stressed conditions. Modelling the Fund's RATS requires quantifying cash flow volatility and analyzing distribution channel concentration and redemption risk. The model is designed to estimate the amount of assets that the Fund could reasonably anticipate trading on a given day, during both normal and reasonably foreseeable stressed conditions, to satisfy redemption requests.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to RATS determinations and determined that such policies and procedures are operating in a manner that is adequate and effective at making RATS determinations as part of the LRMP.
Security-level liquidity classifications
When classifying the liquidity of portfolio securities, the Fund adheres to the liquidity classification procedures established by the Advisor. In assigning a liquidity classification to Fund portfolio holdings, the following key inputs, among others, are considered: the Fund's RATS, feedback from the applicable Subadvisor on market-, trading- and investment-specific considerations, an assessment of current market conditions and fund portfolio holdings, and a value impact standard. The Subadvisor also provides position-level data to the Committee for use in monthly classification reconciliation in order to identify any classifications that may need to be changed as a result of the above considerations.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to security-level liquidity classifications and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Liquidity risk assessment
The Committee periodically reviews and assesses, the Fund's liquidity risk, including its investment strategy and liquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions (including whether the investment strategy is appropriate for an open-end fund, the extent to which the strategy involves a relatively concentrated portfolio or large positions in particular issuers, and the use of borrowings for investment purposes and derivatives), cash flow analysis during both normal and reasonably foreseeable stressed conditions, and holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.
The Committee also monitors global events, such as the COVID-19 Coronavirus, that could impact the markets and liquidity of portfolio investments and their classifications.
As part of its annual assessment of the LRMP, the Committee reviewed Fund-Level Liquidity Risk Assessment Reports for each of the Funds and determined that the investment strategy for each Fund continues to be appropriate for an open-ended structure.
Adequacy and Effectiveness
Based on the review and assessment conducted by the Committee, the Committee has determined that the LRMP has been implemented, and is operating in a manner that is adequate and effective at assessing and managing the liquidity risk of each Fund.
Trustees Hassell H. McClellan,Chairperson Officers Andrew G. Arnott Francis V. Knox, Jr. Charles A. Rizzo Salvatore Schiavone Christopher (Kit) Sechler | Investment advisor John Hancock Investment Management LLC Subadvisor Axiom International Investors LLC Portfolio Managers Bradley Amoils Principal distributor John Hancock Investment Management Distributors LLC Custodian Citibank, N.A. Transfer agent John Hancock Signature Services, Inc. Legal counsel K&L Gates LLP |
* Member of the Audit Committee
† Non-Independent Trustee
The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund's holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund's Form N-PORT filings are available on our website and the SEC's website, sec.gov.
We make this information on your fund, as well asmonthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
You can also contact us: | |||
800-225-5291 jhinvestments.com | Regular mail: John Hancock Signature Services, Inc. | Express mail: John Hancock Signature Services, Inc. |
John Hancock family of funds
DOMESTIC EQUITY FUNDS Blue Chip Growth Classic Value Disciplined Value Disciplined Value Mid Cap Equity Income Financial Industries Fundamental All Cap Core Fundamental Large Cap Core New Opportunities Regional Bank Small Cap Core Small Cap Growth Small Cap Value U.S. Global Leaders Growth U.S. Quality Growth GLOBAL AND INTERNATIONAL EQUITY FUNDS Disciplined Value International Emerging Markets Emerging Markets Equity Fundamental Global Franchise Global Equity Global Shareholder Yield Global Thematic Opportunities International Dynamic Growth International Growth International Small Company | INCOME FUNDS Bond California Tax-Free Income Emerging Markets Debt Floating Rate Income Government Income High Yield High Yield Municipal Bond Income Investment Grade Bond Money Market Short Duration Bond Short Duration Credit Opportunities Strategic Income Opportunities Tax-Free Bond ALTERNATIVE AND SPECIALTY FUNDS Absolute Return Currency Alternative Asset Allocation Alternative Risk Premia Diversified Macro Infrastructure Multi-Asset Absolute Return Seaport Long/Short |
A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
ASSET ALLOCATION Balanced Multi-Asset High Income Multi-Index Lifetime Portfolios Multi-Index Preservation Portfolios Multimanager Lifestyle Portfolios Multimanager Lifetime Portfolios Retirement Income 2040 EXCHANGE-TRADED FUNDS John Hancock Multifactor Consumer Discretionary ETF John Hancock Multifactor Consumer Staples ETF John Hancock Multifactor Developed International ETF John Hancock Multifactor Emerging Markets ETF John Hancock Multifactor Energy ETF John Hancock Multifactor Financials ETF John Hancock Multifactor Healthcare ETF John Hancock Multifactor Industrials ETF John Hancock Multifactor Large Cap ETF John Hancock Multifactor Materials ETF John Hancock Multifactor Media and John Hancock Multifactor Mid Cap ETF John Hancock Multifactor Small Cap ETF John Hancock Multifactor Technology ETF John Hancock Multifactor Utilities ETF | ENVIRONMENTAL, SOCIAL, AND ESG All Cap Core ESG Core Bond ESG International Equity ESG Large Cap Core CLOSED-END FUNDS Financial Opportunities Hedged Equity & Income Income Securities Trust Investors Trust Preferred Income Preferred Income II Preferred Income III Premium Dividend Tax-Advantaged Dividend Income Tax-Advantaged Global Shareholder Yield |
John Hancock Multifactor ETF shares are bought and sold at market price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Investment Management Distributors LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock Multifactor ETFs.
John Hancock Investment Management
A trusted brand
John Hancock Investment Management is a premier asset manager
representing one of America's most trusted brands, with a heritage of
financial stewardship dating back to 1862. Helping our shareholders
pursue their financial goals is at the core of everything we do. It's why
we support the role of professional financial advice and operate with
the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world's best
managers, along with strong risk-adjusted returns across asset classes.
John Hancock Investment Management Distributors LLC n Member FINRA, SIPC
200 Berkeley Street n Boston, MA 02116-5010 n 800-225-5291 n jhinvestments.com
This report is for the information of the shareholders of John Hancock International Dynamic Growth Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF1182621 | 474SA 4/20 6/2020 |
John Hancock
Emerging Markets Equity Fund
Semiannual report 4/30/2020
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the fund's shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change, and you do not need to take any action. You may elect to receive shareholder reports and other communications electronically by calling John Hancock Investment Management at 800-225-5291 (Class A and Class C shares) or 888-972-8696 (Class I, Class R2, Class R4 and Class R6 shares) or by contacting your financial intermediary.
You may elect to receive all reports in paper, free of charge, at any time. You can inform John Hancock Investment Management or your financial intermediary that you wish to continue receiving paper copies of your shareholder reports by following the instructions listed above. Your election to receive reports in paper will apply to all funds held with John Hancock Investment Management or your financial intermediary.
A message to shareholders
Dear shareholder,
Global financial markets were on pace to deliver strong returns during the 6 months ended April 30, 2020, until heightened fears over the coronavirus (COVID-19) sent markets tumbling during the latter half of February and early March.In response to the sell-off, governments and banks in some of the hardest hit areas throughout the world enacted policies and stimulus efforts designed to reignite their respective economies. While these measures helped lift equity and fixed-income markets in the United States during the final six weeks of the period, results were mixed in other areas of the world.
The continued spread of COVID-19, trade disputes, rising unemployment, and other geopolitical tensions may continue to create uncertainty among businesses and investors. Your financial professional can helpposition your portfolio so that it's sufficiently diversified to seek to meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I'd like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you've placed in us.
Sincerely,
Andrew G. Arnott
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO's views as of this report's period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
Emerging Markets Equity Fund
INVESTMENT OBJECTIVE
The fund seeks long-term capital growth.
AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2020 (%)
The MSCI Emerging Markets Index is an unmanaged index designed to measure the performance of developing markets.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower. Since inception returns for the Morningstar fund category average are not available.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus. The fund recently experienced negative short-term performance due to market volatility associated with the COVID-19 pandemic.
TOP 10 HOLDINGS AS OF 4/30/2020 (%)
Alibaba Group Holding, Ltd., ADR | 5.4 |
Tencent Holdings, Ltd. | 5.2 |
Samsung Electronics Company, Ltd. | 4.9 |
Ping An Insurance Group Company of China, Ltd., H Shares | 4.1 |
AIA Group, Ltd. | 3.4 |
Naspers, Ltd., N Shares | 3.2 |
Taiwan Semiconductor Manufacturing Company, Ltd. | 3.0 |
NAVER Corp. | 2.7 |
MediaTek, Inc. | 2.6 |
Reliance Industries, Ltd. | 2.5 |
TOTAL | 37.0 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
TOP 10 COUNTRIES AS OF 4/30/2020 (%)
China | 31.6 |
South Korea | 14.1 |
Taiwan | 11.7 |
Hong Kong | 8.8 |
India | 7.8 |
Russia | 4.9 |
Brazil | 4.3 |
United Kingdom | 3.4 |
South Africa | 3.2 |
Indonesia | 1.5 |
TOTAL | 91.3 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
A note about risks
The fund may be subject to various risks as described in the fund's prospectus. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange trading suspensions and closures, impact the ability to complete redemptions, and affect fund performance. For example, the novel coronavirus disease (COVID-19) has resulted in significant disruptions to global business activity. The impact of a health crisis and other epidemics and pandemics that may arise in the future, could affect the global economy in ways that cannot necessarily be foreseen at the present time. A health crisis may exacerbate other pre-existing political, social, and economic risks. Any such impact could adversely affect the funds' performance, resulting in losses to your investment. For more information, please refer to the "Principal risks" section of the prospectus.
TOTAL RETURNS FOR THE PERIOD ENDED APRIL 30, 2020
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | ||||||
1-year | Since inception1 | 6-month | Since inception1 | ||||
Class A | -12.08 | 0.80 | -13.08 | 3.99 | |||
Class C | -9.03 | 1.16 | -9.71 | 5.79 | |||
Class I2 | -7.21 | 2.15 | -8.30 | 10.93 | |||
Class R22 | -7.49 | 1.97 | -8.42 | 9.98 | |||
Class R42 | -7.26 | 2.09 | -8.36 | 10.59 | |||
Class R62 | -7.12 | 2.26 | -8.30 | 11.52 | |||
Class NAV2 | -7.11 | 2.26 | -8.29 | 11.52 | |||
Index† | -12.00 | 1.41 | -10.50 | 7.09 |
Performance figures assume all distributions are reinvested. Figures reflect maximum sales charges on Class A shares of 5% and the applicable contingent deferred sales charge (CDSC) on Class C shares. Class C shares sold within one year of purchase are subject to a 1% CDSC. Sales charges are not applicable to Class I, Class R2, Class R4, Class R6, and Class NAV shares.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectuses for the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until February 28, 2021 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Class A | Class C | Class I | Class R2 | Class R4 | Class R6 | Class NAV | |
Gross (%) | 1.43 | 2.13 | 1.13 | 1.53 | 1.38 | 1.03 | 1.02 |
Net (%) | 1.42 | 2.12 | 1.12 | 1.52 | 1.27 | 1.02 | 1.01 |
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.
The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.
The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.
† | Index is the MSCI Emerging Markets Index. |
See the following page for footnotes.
This chart and table show what happened to a hypothetical $10,000 investment in John Hancock Emerging Markets Equity Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in the MSCI Emerging Markets Index.
Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class C3 | 6-16-15 | 10,579 | 10,579 | 10,709 |
Class I2 | 6-16-15 | 11,093 | 11,093 | 10,709 |
Class R22 | 6-16-15 | 10,998 | 10,998 | 10,709 |
Class R42 | 6-16-15 | 11,059 | 11,059 | 10,709 |
Class R62 | 6-16-15 | 11,152 | 11,152 | 10,709 |
Class NAV2 | 6-16-15 | 11,152 | 11,152 | 10,709 |
The MSCI Emerging Markets Index is an unmanaged index designed to measure the performance of developing markets.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Footnotes related to performance pages
1 | From 6-16-15. |
2 | For certain types of investors, as described in the fund's prospectuses. |
3 | The contingent deferred sales charge is not applicable. |
Your expenses |
SEMIANNUAL REPORT | JOHN HANCOCK EMERGING MARKETS EQUITY FUND | 7 |
Account value on 11-1-2019 | Ending value on 4-30-2020 | Expenses paid during period ended 4-30-20201 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $915.20 | $6.81 | 1.43% |
Hypothetical example | 1,000.00 | 1,017.80 | 7.17 | 1.43% | |
Class C | Actual expenses/actual returns | 1,000.00 | 911.90 | 10.13 | 2.13% |
Hypothetical example | 1,000.00 | 1,014.30 | 10.67 | 2.13% | |
Class I | Actual expenses/actual returns | 1,000.00 | 917.00 | 5.39 | 1.13% |
Hypothetical example | 1,000.00 | 1,019.20 | 5.67 | 1.13% | |
Class R2 | Actual expenses/actual returns | 1,000.00 | 915.80 | 6.67 | 1.40% |
Hypothetical example | 1,000.00 | 1,017.90 | 7.02 | 1.40% | |
Class R4 | Actual expenses/actual returns | 1,000.00 | 916.40 | 5.62 | 1.18% |
Hypothetical example | 1,000.00 | 1,019.00 | 5.92 | 1.18% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 917.00 | 4.86 | 1.02% |
Hypothetical example | 1,000.00 | 1,019.80 | 5.12 | 1.02% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 917.10 | 4.77 | 1.00% |
Hypothetical example | 1,000.00 | 1,019.90 | 5.02 | 1.00% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period). |
8 | JOHN HANCOCK EMERGING MARKETS EQUITY FUND | SEMIANNUAL REPORT |
Fund’s investments |
Shares | Value | ||||
Common stocks 91.8% | $1,567,248,499 | ||||
(Cost $1,428,992,893) | |||||
Argentina 1.0% | 17,429,444 | ||||
MercadoLibre, Inc. (A) | 29,870 | 17,429,444 | |||
Brazil 4.3% | 72,908,217 | ||||
B3 SA - Brasil Bolsa Balcao | 1,702,600 | 12,029,256 | |||
Magazine Luiza SA | 1,706,700 | 15,598,483 | |||
Notre Dame Intermedica Participacoes SA | 1,743,146 | 17,569,619 | |||
Pagseguro Digital, Ltd., Class A (A) | 397,284 | 10,063,204 | |||
Raia Drogasil SA | 490,000 | 9,441,549 | |||
StoneCo, Ltd., Class A (A) | 311,073 | 8,206,106 | |||
China 31.6% | 539,696,944 | ||||
Alibaba Group Holding, Ltd., ADR (A) | 452,855 | 91,780,122 | |||
China International Travel Service Corp., Ltd., Class A | 1,480,816 | 18,982,118 | |||
CNOOC, Ltd. | 30,594,000 | 33,825,407 | |||
Hangzhou Tigermed Consulting Company, Ltd., Class A | 1,579,961 | 16,936,230 | |||
JD.com, Inc., ADR (A) | 557,667 | 24,035,448 | |||
Kingdee International Software Group Company, Ltd. | 18,246,000 | 26,094,964 | |||
Kweichow Moutai Company, Ltd., Class A | 145,831 | 25,978,906 | |||
Meituan Dianping, Class B (A) | 1,708,200 | 22,871,239 | |||
Ping An Bank Company, Ltd., Class A | 14,234,367 | 27,772,819 | |||
Ping An Healthcare and Technology Company, Ltd. (A)(B) | 2,645,400 | 36,443,016 | |||
Ping An Insurance Group Company of China, Ltd., H Shares | 6,822,000 | 69,422,456 | |||
Shenzhen Mindray Bio-Medical Electronics Company, Ltd., Class A | 315,806 | 11,314,686 | |||
TAL Education Group, ADR (A) | 308,189 | 16,700,762 | |||
Tencent Holdings, Ltd. | 1,693,400 | 89,021,086 | |||
Wuxi Biologics Cayman, Inc. (A)(B) | 1,832,000 | 28,517,685 | |||
Hong Kong 8.8% | 149,567,991 | ||||
AIA Group, Ltd. | 6,375,800 | 58,515,622 | |||
China Resources Beer Holdings Company, Ltd. | 5,240,000 | 24,679,408 | |||
Hong Kong Exchanges & Clearing, Ltd. | 1,031,900 | 33,084,949 | |||
Pacific Basin Shipping, Ltd. | 84,242,000 | 10,320,588 | |||
Techtronic Industries Company, Ltd. | 3,029,000 | 22,967,424 | |||
India 7.8% | 133,083,699 | ||||
Colgate-Palmolive India, Ltd. | 864,104 | 16,735,115 | |||
HDFC Bank, Ltd. | 2,753,019 | 36,087,000 | |||
Housing Development Finance Corp., Ltd. | 781,169 | 19,761,063 | |||
Reliance Industries, Ltd. | 2,155,347 | 41,849,274 | |||
UltraTech Cement, Ltd. | 400,932 | 18,651,247 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK EMERGING MARKETS EQUITY FUND | 9 |
Shares | Value | ||||
Indonesia 1.5% | $25,912,352 | ||||
Bank Central Asia Tbk PT | 14,959,300 | 25,912,352 | |||
Mexico 0.6% | 9,992,232 | ||||
Fomento Economico Mexicano SAB de CV | 1,548,600 | 9,992,232 | |||
Peru 1.0% | 16,775,777 | ||||
Credicorp, Ltd. | 112,574 | 16,775,777 | |||
Poland 1.0% | 16,941,927 | ||||
Dino Polska SA (A)(B) | 400,615 | 16,941,927 | |||
Russia 4.9% | 82,965,576 | ||||
LUKOIL PJSC, ADR | 438,977 | 28,344,745 | |||
Sberbank of Russia PJSC, ADR | 3,014,285 | 31,680,135 | |||
Yandex NV, Class A (A) | 607,218 | 22,940,696 | |||
South Africa 3.2% | 55,170,869 | ||||
Naspers, Ltd., N Shares | 354,458 | 55,170,869 | |||
South Korea 9.2% | 156,881,798 | ||||
LG Chem, Ltd. | 100,590 | 31,254,652 | |||
LG Household & Health Care, Ltd. | 32,781 | 37,173,541 | |||
NAVER Corp. | 289,396 | 46,919,938 | |||
SK Hynix, Inc. | 603,533 | 41,533,667 | |||
Taiwan 11.7% | 199,858,867 | ||||
ASE Technology Holding Company, Ltd. | 11,024,000 | 24,558,308 | |||
LandMark Optoelectronics Corp. | 3,812,000 | 35,582,550 | |||
MediaTek, Inc. | 3,171,000 | 43,786,561 | |||
Taiwan Semiconductor Manufacturing Company, Ltd. | 5,117,000 | 51,619,272 | |||
Taiwan Semiconductor Manufacturing Company, Ltd., ADR | 563,137 | 29,919,469 | |||
Win Semiconductors Corp. | 1,610,000 | 14,392,707 | |||
Thailand 0.7% | 12,732,172 | ||||
Thai Beverage PCL | 26,157,300 | 12,732,172 | |||
United Arab Emirates 1.1% | 18,927,781 | ||||
Network International Holdings PLC (A)(B) | 3,629,074 | 18,927,781 | |||
United Kingdom 3.4% | 58,402,853 | ||||
Anglo American PLC | 1,937,287 | 34,454,598 | |||
Mondi PLC | 1,356,133 | 23,948,255 | |||
Preferred securities 4.9% | $84,270,834 | ||||
(Cost $59,935,723) | |||||
South Korea 4.9% | 84,270,834 | ||||
Samsung Electronics Company, Ltd. | 2,430,963 | 84,270,834 | |||
10 | JOHN HANCOCK EMERGING MARKETS EQUITY FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Yield (%) | Shares | Value | |||
Short-term investments 4.3% | $74,055,008 | ||||
(Cost $74,055,008) | |||||
Short-term funds 4.3% | 74,055,008 | ||||
JPMorgan U.S. Treasury Plus Money Market Fund, Institutional Class | 0.1671(C) | 74,055,008 | 74,055,008 |
Total investments (Cost $1,562,983,624) 101.0% | $1,725,574,341 | ||||
Other assets and liabilities, net (1.0%) | (17,488,633) | ||||
Total net assets 100.0% | $1,708,085,708 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
Security Abbreviations and Legend | |
ADR | American Depositary Receipt |
(A) | Non-income producing security. |
(B) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
(C) | The rate shown is the annualized seven-day yield as of 4-30-20. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK EMERGING MARKETS EQUITY FUND | 11 |
Financial statements |
Assets | |
Unaffiliated investments, at value (Cost $1,562,983,624) | $1,725,574,341 |
Foreign currency, at value (Cost $2,112) | 2,119 |
Dividends and interest receivable | 3,247,294 |
Receivable for fund shares sold | 143,890 |
Other assets | 150,287 |
Total assets | 1,729,117,931 |
Liabilities | |
Foreign capital gains tax payable | 1,762,416 |
Payable for investments purchased | 18,776,829 |
Payable for fund shares repurchased | 62,723 |
Payable to affiliates | |
Accounting and legal services fees | 87,108 |
Transfer agent fees | 412 |
Distribution and service fees | 46 |
Trustees' fees | 3,945 |
Other liabilities and accrued expenses | 338,744 |
Total liabilities | 21,032,223 |
Net assets | $1,708,085,708 |
Net assets consist of | |
Paid-in capital | $1,636,041,245 |
Total distributable earnings (loss) | 72,044,463 |
Net assets | $1,708,085,708 |
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 ($3,476,678 ÷ 353,751 shares)1 | $9.83 |
Class C ($303,692 ÷ 31,526 shares)1 | $9.63 |
Class I ($228,712 ÷ 23,239 shares) | $9.84 |
Class R2 ($72,349 ÷ 7,367 shares) | $9.82 |
Class R4 ($54,056 ÷ 5,497 shares) | $9.83 |
Class R6 ($1,503,876 ÷ 152,808 shares) | $9.84 |
Class NAV ($1,702,446,345 ÷ 173,021,314 shares) | $9.84 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $10.35 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
12 | JOHN HANCOCK Emerging Markets Equity Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Investment income | |
Dividends | $11,070,288 |
Interest | 231,399 |
Less foreign taxes withheld | (984,831) |
Total investment income | 10,316,856 |
Expenses | |
Investment management fees | 8,726,418 |
Distribution and service fees | 6,787 |
Accounting and legal services fees | 169,882 |
Transfer agent fees | 2,602 |
Trustees' fees | 17,682 |
Custodian fees | 467,625 |
State registration fees | 44,251 |
Printing and postage | 9,903 |
Professional fees | 41,975 |
Other | 49,998 |
Total expenses | 9,537,123 |
Less expense reductions | (67,833) |
Net expenses | 9,469,290 |
Net investment income | 847,566 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | (27,901,514) |
(27,901,514) | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | (120,367,695) |
(120,367,695) | |
Net realized and unrealized loss | (148,269,209) |
Decrease in net assets from operations | $(147,421,643) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Emerging Markets Equity Fund | 13 |
Six months ended 4-30-20 (unaudited) | Year ended 10-31-19 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $847,566 | $41,809,054 |
Net realized loss | (27,901,514) | (53,004,660) |
Change in net unrealized appreciation (depreciation) | (120,367,695) | 254,052,793 |
Increase (decrease) in net assets resulting from operations | (147,421,643) | 242,857,187 |
Distributions to shareholders | ||
From earnings | ||
Class A | (72,935) | (178,084) |
Class C | (2,533) | (7,905) |
Class I | (5,271) | (5,348) |
Class R2 | (1,731) | (3,759) |
Class R4 | (1,313) | (3,714) |
Class R6 | (28,750) | (38,064) |
Class NAV | (48,499,558) | (99,101,719) |
Total distributions | (48,612,091) | (99,338,593) |
From fund share transactions | (110,607,042) | 857,990,056 |
Total increase (decrease) | (306,640,776) | 1,001,508,650 |
Net assets | ||
Beginning of period | 2,014,726,484 | 1,013,217,834 |
End of period | $1,708,085,708 | $2,014,726,484 |
14 | JOHN HANCOCK Emerging Markets Equity Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Financial highlights |
CLASS A SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-152 |
Per share operating performance | ||||||
Net asset value, beginning of period | $10.95 | $10.19 | $11.85 | $9.29 | $8.99 | $10.00 |
Net investment income (loss)3 | (0.02)4 | 0.19 | 0.10 | 0.04 | 0.02 | 0.01 |
Net realized and unrealized gain (loss) on investments | (0.87) | 1.27 | (1.59) | 2.53 | 0.28 | (1.02) |
Total from investment operations | (0.89) | 1.46 | (1.49) | 2.57 | 0.30 | (1.01) |
Less distributions | ||||||
From net investment income | (0.23) | (0.04) | (0.04) | (0.01) | — | — |
From net realized gain | — | (0.66) | (0.13) | — | — | — |
Total distributions | (0.23) | (0.70) | (0.17) | (0.01) | — | — |
Net asset value, end of period | $9.83 | $10.95 | $10.19 | $11.85 | $9.29 | $8.99 |
Total return (%)5,6 | (8.48)7 | 15.56 | (12.79) | 27.78 | 3.34 | (10.10)7 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $3 | $3 | $3 | $3 | $—8 | $—8 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.449 | 1.42 | 1.44 | 1.51 | 1.58 | 1.649 |
Expenses including reductions | 1.439 | 1.42 | 1.44 | 1.50 | 1.50 | 1.509 |
Net investment income (loss) | (0.32)4,9 | 1.80 | 0.87 | 0.37 | 0.24 | 0.449 |
Portfolio turnover (%) | 23 | 38 | 50 | 54 | 42 | 17 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 6-16-15 (commencement of operations) to 10-31-15. |
3 | Based on average daily shares outstanding. |
4 | Net investment income is affected by the timing and frequency of the declaration of dividends by the securities in which the fund invests. |
5 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
6 | Does not reflect the effect of sales charges, if any. |
7 | Not annualized. |
8 | Less than $500,000. |
9 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Emerging Markets Equity Fund | 15 |
CLASS C SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-152 |
Per share operating performance | ||||||
Net asset value, beginning of period | $10.71 | $10.00 | $11.68 | $9.20 | $8.97 | $10.00 |
Net investment income (loss)3 | (0.05)4 | 0.11 | —5 | (0.05) | (0.03) | (0.01) |
Net realized and unrealized gain (loss) on investments | (0.87) | 1.26 | (1.55) | 2.53 | 0.26 | (1.02) |
Total from investment operations | (0.92) | 1.37 | (1.55) | 2.48 | 0.23 | (1.03) |
Less distributions | ||||||
From net investment income | (0.16) | — | — | — | — | — |
From net realized gain | — | (0.66) | (0.13) | — | — | — |
Total distributions | (0.16) | (0.66) | (0.13) | — | — | — |
Net asset value, end of period | $9.63 | $10.71 | $10.00 | $11.68 | $9.20 | $8.97 |
Total return (%)6,7 | (8.81)8 | 14.74 | (13.44) | 26.96 | 2.56 | (10.30)8 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $—9 | $—9 | $—9 | $—9 | $—9 | $—9 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 2.1410 | 2.12 | 2.14 | 2.21 | 2.28 | 2.3510 |
Expenses including reductions | 2.1310 | 2.12 | 2.14 | 2.20 | 2.20 | 2.2010 |
Net investment income (loss) | (0.92)4,10 | 1.08 | (0.03) | (0.53) | (0.36) | (0.17)10 |
Portfolio turnover (%) | 23 | 38 | 50 | 54 | 42 | 17 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 6-16-15 (commencement of operations) to 10-31-15. |
3 | Based on average daily shares outstanding. |
4 | Net investment income is affected by the timing and frequency of the declaration of dividends by the securities in which the fund invests. |
5 | Less than $0.005 per share. |
6 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
7 | Does not reflect the effect of sales charges, if any. |
8 | Not annualized. |
9 | Less than $500,000. |
10 | Annualized. |
16 | JOHN HANCOCK Emerging Markets Equity Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS I SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-152 |
Per share operating performance | ||||||
Net asset value, beginning of period | $10.98 | $10.22 | $11.89 | $9.31 | $9.00 | $10.00 |
Net investment income3 | —4,5 | 0.26 | 0.12 | 0.07 | 0.05 | 0.03 |
Net realized and unrealized gain (loss) on investments | (0.88) | 1.24 | (1.59) | 2.55 | 0.27 | (1.03) |
Total from investment operations | (0.88) | 1.50 | (1.47) | 2.62 | 0.32 | (1.00) |
Less distributions | ||||||
From net investment income | (0.26) | (0.08) | (0.07) | (0.04) | (0.01) | — |
From net realized gain | — | (0.66) | (0.13) | — | — | — |
Total distributions | (0.26) | (0.74) | (0.20) | (0.04) | (0.01) | — |
Net asset value, end of period | $9.84 | $10.98 | $10.22 | $11.89 | $9.31 | $9.00 |
Total return (%)6 | (8.30)7 | 15.81 | (12.52) | 28.15 | 3.53 | (10.00)7 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $—8 | $—8 | $—8 | $—8 | $—8 | $—8 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.149 | 1.13 | 1.15 | 1.20 | 1.26 | 1.339 |
Expenses including reductions | 1.139 | 1.12 | 1.15 | 1.20 | 1.25 | 1.259 |
Net investment income (loss) | (0.04)4,9 | 2.53 | 0.97 | 0.66 | 0.63 | 0.789 |
Portfolio turnover (%) | 23 | 38 | 50 | 54 | 42 | 17 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 6-16-15 (commencement of operations) to 10-31-15. |
3 | Based on average daily shares outstanding. |
4 | Net investment income is affected by the timing and frequency of the declaration of dividends by the securities in which the fund invests. |
5 | Less than $0.005 per share. |
6 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
7 | Not annualized. |
8 | Less than $500,000. |
9 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Emerging Markets Equity Fund | 17 |
CLASS R2 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-152 |
Per share operating performance | ||||||
Net asset value, beginning of period | $10.95 | $10.19 | $11.86 | $9.30 | $8.99 | $10.00 |
Net investment income (loss)3 | (0.02)4 | 0.21 | 0.09 | 0.05 | 0.04 | 0.02 |
Net realized and unrealized gain (loss) on investments | (0.87) | 1.27 | (1.58) | 2.54 | 0.27 | (1.03) |
Total from investment operations | (0.89) | 1.48 | (1.49) | 2.59 | 0.31 | (1.01) |
Less distributions | ||||||
From net investment income | (0.24) | (0.06) | (0.05) | (0.03) | — | — |
From net realized gain | — | (0.66) | (0.13) | — | — | — |
Total distributions | (0.24) | (0.72) | (0.18) | (0.03) | — | — |
Net asset value, end of period | $9.82 | $10.95 | $10.19 | $11.86 | $9.30 | $8.99 |
Total return (%)5 | (8.42)6 | 15.67 | (12.74) | 27.94 | 3.45 | (10.10)6 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $—7 | $—7 | $—7 | $—7 | $—7 | $—7 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.418 | 1.34 | 1.30 | 1.36 | 1.42 | 1.488 |
Expenses including reductions | 1.408 | 1.33 | 1.29 | 1.35 | 1.41 | 1.488 |
Net investment income (loss) | (0.31)4,8 | 2.02 | 0.71 | 0.47 | 0.44 | 0.568 |
Portfolio turnover (%) | 23 | 38 | 50 | 54 | 42 | 17 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 6-16-15 (commencement of operations) to 10-31-15. |
3 | Based on average daily shares outstanding. |
4 | Net investment income is affected by the timing and frequency of the declaration of dividends by the securities in which the fund invests. |
5 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
6 | Not annualized. |
7 | Less than $500,000. |
8 | Annualized. |
18 | JOHN HANCOCK Emerging Markets Equity Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R4 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-152 |
Per share operating performance | ||||||
Net asset value, beginning of period | $10.97 | $10.21 | $11.88 | $9.31 | $8.99 | $10.00 |
Net investment income3 | —4,5 | 0.20 | 0.10 | 0.06 | 0.05 | 0.02 |
Net realized and unrealized gain (loss) on investments | (0.89) | 1.29 | (1.58) | 2.55 | 0.27 | (1.03) |
Total from investment operations | (0.89) | 1.49 | (1.48) | 2.61 | 0.32 | (1.01) |
Less distributions | ||||||
From net investment income | (0.25) | (0.07) | (0.06) | (0.04) | —5 | — |
From net realized gain | — | (0.66) | (0.13) | — | — | — |
Total distributions | (0.25) | (0.73) | (0.19) | (0.04) | —5 | — |
Net asset value, end of period | $9.83 | $10.97 | $10.21 | $11.88 | $9.31 | $8.99 |
Total return (%)6 | (8.36)7 | 15.77 | (12.58) | 28.04 | 3.59 | (10.10)7 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $—8 | $—8 | $—8 | $—8 | $—8 | $—8 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.289 | 1.28 | 1.31 | 1.36 | 1.42 | 1.489 |
Expenses including reductions | 1.189 | 1.17 | 1.20 | 1.26 | 1.31 | 1.359 |
Net investment income (loss) | (0.07)4,9 | 1.93 | 0.82 | 0.59 | 0.54 | 0.689 |
Portfolio turnover (%) | 23 | 38 | 50 | 54 | 42 | 17 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 6-16-15 (commencement of operations) to 10-31-15. |
3 | Based on average daily shares outstanding. |
4 | Net investment income is affected by the timing and frequency of the declaration of dividends by the securities in which the fund invests. |
5 | Less than $0.005 per share. |
6 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
7 | Not annualized. |
8 | Less than $500,000. |
9 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Emerging Markets Equity Fund | 19 |
CLASS R6 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-152 |
Per share operating performance | ||||||
Net asset value, beginning of period | $10.99 | $10.22 | $11.89 | $9.32 | $9.00 | $10.00 |
Net investment income3 | 0.014 | 0.26 | 0.17 | 0.09 | 0.06 | 0.03 |
Net realized and unrealized gain (loss) on investments | (0.89) | 1.26 | (1.63) | 2.53 | 0.27 | (1.03) |
Total from investment operations | (0.88) | 1.52 | (1.46) | 2.62 | 0.33 | (1.00) |
Less distributions | ||||||
From net investment income | (0.27) | (0.09) | (0.08) | (0.05) | (0.01) | — |
From net realized gain | — | (0.66) | (0.13) | — | — | — |
Total distributions | (0.27) | (0.75) | (0.21) | (0.05) | (0.01) | — |
Net asset value, end of period | $9.84 | $10.99 | $10.22 | $11.89 | $9.32 | $9.00 |
Total return (%)5 | (8.30)6 | 16.08 | (12.52) | 28.33 | 3.69 | (10.00)6 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $2 | $1 | $1 | $—7 | $—7 | $—7 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.028 | 1.02 | 1.05 | 1.11 | 1.17 | 1.238 |
Expenses including reductions | 1.028 | 1.01 | 1.04 | 1.10 | 1.14 | 1.218 |
Net investment income | 0.134,8 | 2.48 | 1.45 | 0.88 | 0.71 | 0.828 |
Portfolio turnover (%) | 23 | 38 | 50 | 54 | 42 | 17 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 6-16-15 (commencement of operations) to 10-31-15. |
3 | Based on average daily shares outstanding. |
4 | Net investment income is affected by the timing and frequency of the declaration of dividends by the securities in which the fund invests. |
5 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
6 | Not annualized. |
7 | Less than $500,000. |
8 | Annualized. |
20 | JOHN HANCOCK Emerging Markets Equity Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS NAV SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-16 | 10-31-152 |
Per share operating performance | ||||||
Net asset value, beginning of period | $10.99 | $10.22 | $11.89 | $9.32 | $9.00 | $10.00 |
Net investment income3 | —4,5 | 0.24 | 0.14 | 0.08 | 0.07 | 0.02 |
Net realized and unrealized gain (loss) on investments | (0.88) | 1.28 | (1.60) | 2.54 | 0.26 | (1.02) |
Total from investment operations | (0.88) | 1.52 | (1.46) | 2.62 | 0.33 | (1.00) |
Less distributions | ||||||
From net investment income | (0.27) | (0.09) | (0.08) | (0.05) | (0.01) | — |
From net realized gain | — | (0.66) | (0.13) | — | — | — |
Total distributions | (0.27) | (0.75) | (0.21) | (0.05) | (0.01) | — |
Net asset value, end of period | $9.84 | $10.99 | $10.22 | $11.89 | $9.32 | $9.00 |
Total return (%)6 | (8.29)7 | 16.10 | (12.51) | 28.33 | 3.65 | (10.00)7 |
Ratios and supplemental data | ||||||
Net assets, end of period (in millions) | $1,702 | $2,010 | $1,010 | $1,076 | $859 | $365 |
Ratios (as a percentage of average net assets): | ||||||
Expenses before reductions | 1.018 | 1.01 | 1.04 | 1.10 | 1.15 | 1.228 |
Expenses including reductions | 1.008 | 1.00 | 1.03 | 1.09 | 1.14 | 1.218 |
Net investment income | 0.094,8 | 2.29 | 1.18 | 0.75 | 0.77 | 0.618 |
Portfolio turnover (%) | 23 | 38 | 50 | 54 | 42 | 17 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 6-16-15 (commencement of operations) to 10-31-15. |
3 | Based on average daily shares outstanding. |
4 | Net investment income is affected by the timing and frequency of the declaration of dividends by the securities in which the fund invests. |
5 | Less than $0.005 per share. |
6 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
7 | Not annualized. |
8 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Emerging Markets Equity Fund | 21 |
Notes to financial statements (unaudited) |
22 | JOHN HANCOCK Emerging Markets Equity Fund | SEMIANNUAL REPORT |
Total value at 4-30-20 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Argentina | $17,429,444 | $17,429,444 | — | — |
Brazil | 72,908,217 | 72,908,217 | — | — |
China | 539,696,944 | 132,516,332 | $407,180,612 | — |
Hong Kong | 149,567,991 | — | 149,567,991 | — |
India | 133,083,699 | — | 133,083,699 | — |
Indonesia | 25,912,352 | — | 25,912,352 | — |
Mexico | 9,992,232 | 9,992,232 | — | — |
Peru | 16,775,777 | 16,775,777 | — | — |
Poland | 16,941,927 | — | 16,941,927 | — |
Russia | 82,965,576 | 82,965,576 | — | — |
South Africa | 55,170,869 | — | 55,170,869 | — |
South Korea | 156,881,798 | — | 156,881,798 | — |
Taiwan | 199,858,867 | 29,919,469 | 169,939,398 | — |
Thailand | 12,732,172 | — | 12,732,172 | — |
United Arab Emirates | 18,927,781 | — | 18,927,781 | — |
United Kingdom | 58,402,853 | — | 58,402,853 | — |
Preferred securities | 84,270,834 | — | 84,270,834 | — |
Short-term investments | 74,055,008 | 74,055,008 | — | — |
Total investments in securities | $1,725,574,341 | $436,562,055 | $1,289,012,286 | — |
SEMIANNUAL REPORT | JOHN HANCOCK Emerging Markets Equity Fund | 23 |
24 | JOHN HANCOCK Emerging Markets Equity Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Emerging Markets Equity Fund | 25 |
Class | Expense reduction |
Class A | $125 |
Class C | 10 |
Class I | 9 |
Class R2 | 3 |
Class | Expense reduction |
Class R4 | $2 |
Class R6 | 43 |
Class NAV | 67,613 |
Total | $67,805 |
Class | Rule 12b-1 Fee | Service fee |
Class A | 0.30% | — |
Class C | 1.00% | — |
Class R2 | 0.25% | 0.25% |
Class R4 | 0.25% | 0.10% |
26 | JOHN HANCOCK Emerging Markets Equity Fund | SEMIANNUAL REPORT |
Class | Distribution and service fees | Transfer agent fees |
Class A | $5,221 | $2,184 |
Class C | 1,342 | 169 |
Class I | — | 159 |
Class R2 | 150 | 5 |
Class R4 | 74 | 4 |
Class R6 | — | 81 |
Total | $6,787 | $2,602 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Borrower | $10,945,219 | 19 | 1.550% | $(8,954) |
SEMIANNUAL REPORT | JOHN HANCOCK Emerging Markets Equity Fund | 27 |
Six Months Ended 4-30-20 | Year Ended 10-31-19 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 74,178 | $771,175 | 204,547 | $2,154,740 |
Distributions reinvested | 6,518 | 72,935 | 18,825 | 178,084 |
Repurchased | (44,667) | (462,647) | (177,952) | (1,826,338) |
Net increase | 36,029 | $381,463 | 45,420 | $506,486 |
Class C shares | ||||
Sold | 27,051 | $290,011 | 7,652 | $78,162 |
Distributions reinvested | 230 | 2,532 | 850 | 7,905 |
Repurchased | (12,006) | (115,673) | (4,306) | (44,433) |
Net increase | 15,275 | $176,870 | 4,196 | $41,634 |
Class I shares | ||||
Sold | 66,691 | $739,832 | 43,290 | $446,236 |
Distributions reinvested | 374 | 4,185 | 239 | 2,260 |
Repurchased | (62,759) | (682,400) | (31,849) | (319,812) |
Net increase | 4,306 | $61,617 | 11,680 | $128,684 |
Class R2 shares | ||||
Sold | 7 | $66 | 2,009 | $22,000 |
Distributions reinvested | 66 | 735 | 77 | 728 |
Net increase | 73 | $801 | 2,086 | $22,728 |
Class R4 shares | ||||
Sold | 352 | $3,782 | 154 | $1,589 |
Distributions reinvested | 23 | 252 | 67 | 631 |
Repurchased | (77) | (837) | (80) | (842) |
Net increase | 298 | $3,197 | 141 | $1,378 |
Class R6 shares | ||||
Sold | 59,651 | $648,090 | 52,180 | $538,413 |
Distributions reinvested | 2,572 | 28,750 | 4,028 | 38,065 |
Repurchased | (15,382) | (181,120) | (915) | (9,951) |
Net increase | 46,841 | $495,720 | 55,293 | $566,527 |
28 | JOHN HANCOCK Emerging Markets Equity Fund | SEMIANNUAL REPORT |
Six Months Ended 4-30-20 | Year Ended 10-31-19 | |||
Shares | Amount | Shares | Amount | |
Class NAV shares | ||||
Sold | 6,394,616 | $65,615,028 | 86,932,990 | $898,101,859 |
Distributions reinvested | 4,338,064 | 48,499,558 | 10,486,954 | 99,101,719 |
Repurchased | (20,648,299) | (225,841,296) | (13,256,063) | (140,480,959) |
Net increase (decrease) | (9,915,619) | $(111,726,710) | 84,163,881 | $856,722,619 |
Total net increase (decrease) | (9,812,797) | $(110,607,042) | 84,282,697 | $857,990,056 |
Fund | Affiliated Concentration |
John Hancock Funds II Multimanager Lifestyle Growth Portfolio | 23.2% |
John Hancock Variable Insurance Trust Managed Volatility Growth Portfolio | 18.6% |
John Hancock Funds II Multimanager Lifestyle Balanced Portfolio | 14.4% |
John Hancock Funds II Multimanager Lifestyle Aggressive Portfolio | 12.1% |
John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio | 9.6% |
SEMIANNUAL REPORT | JOHN HANCOCK Emerging Markets Equity Fund | 29 |
30 | JOHN HANCOCK Emerging Markets Equity Fund | SEMIANNUAL REPORT |
STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT
Operation of the Liquidity Risk Management Program
This section describes operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock Emerging Markets Equity Fund, subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Fund's subadvisor, Manulife Investment Management (US) LLC (the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.
The Committee holds monthly meetings to: (1) review the day-to-day operations of the LRMP; (2) review and approve month end liquidity classifications; (3) review quarterly testing and determinations, as applicable; and (4) review other LRMP related material. The Committee also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Committee may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity and valuation issues.
The Committee provided the Board at a meeting held on March 15-17, 2020 with a written report which addressed the Committee's assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period December 1, 2018 through December 31, 2019, included an assessment of important aspects of the LRMP including, but not limited to:
• Operation of the Fund's Redemption-In-Kind Procedures;
• Highly Liquid Investment Minimum (HLIM) determination;
• Compliance with the 15% limit on illiquid investments;
• Reasonably Anticipated Trade Size (RATS) determination;
• Security-level liquidity classifications; and
• Liquidity risk assessment.
The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee's actions to address such matters.
Redemption-In-Kind Procedures
Rule 22e-4 requires any fund that engages in or reserves the right to engage in in-kind redemptions to adopt and implement written policies and procedures regarding in-kind redemptions as part of the management of its liquidity risk. These procedures address the process for redeeming in kind, as well as the circumstances under which the Fund would consider redeeming in kind. Anticipated large redemption activity will be evaluated to identify situations where redeeming in securities instead of cash may be appropriate.
As part of its annual assessment of the LRMP, the Committee reviewed the implementation and operation of the Redemption-In-Kind Procedures and determined they are operating in a manner that such procedures are adequate and effective to manage in-kind redemptions on behalf of the Fund as part of the LRMP.
Highly Liquid Investment Minimum determination
The Committee uses an HLIM model to determine a Fund's HLIM. This process incorporates the Fund's investment strategy, historical redemptions, liquidity classification rollup percentages and cash balances, redemption policy, access to funding sources, distribution channels and client concentrations. If the Fund falls below its established HLIM for a period greater than 7 consecutive calendar days, the Committee prepares a report to the Board within one business day following the seventh consecutive calendar day with an explanation of how the Fund plans to restore its HLIM within a reasonable period of time.
Based on the HLIM model, the Committee has determined that the Fund qualifies as a Primarily Highly Liquid Fund (PHLF). It is therefore not required to establish a HLIM. The Fund is tested quarterly to confirm its PHLF status.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to HLIM and PHLF determinations, and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Compliance with the 15% limit on illiquid investments
Rule 22e-4 sets an aggregate illiquid investment limit of 15% for a fund. Funds are prohibited from acquiring an illiquid investment if this results in greater than 15% of its net assets being classified as illiquid. When applying this limit, the Committee defines "illiquid investment" to mean any investment that the Fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. If a 15% illiquid investment limit breach occurs for longer than 1 business day, the Fund is required to notify the Board and provide a plan on how to bring illiquid investments within the 15% threshold, and after 7 days confidentially notify the Securities and Exchange Commission (the SEC).
In February 2019, as a result of extended security markets closures in connection with the Chinese New Year in certain countries, the SEC released guidance, and the Committee approved and adopted an Extended Market Holiday Policy to plan for and monitor known Extended Market Holidays (defined as all expected market holiday closures spanning four or more calendar days).
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to the 15% illiquid investment limit and determined such policies and procedures are operating in a manner that is adequate and effective as part of the LMRP.
Reasonably Anticipated Trade Size determination
In order to assess the liquidity risk of a Fund, the Committee considers the impact on the Fund that redemptions of a RATS would have under both normal and reasonably foreseeable stressed conditions. Modelling the Fund's RATS requires quantifying cash flow volatility and analyzing distribution channel concentration and redemption risk. The model is designed to estimate the amount of assets that the Fund could reasonably anticipate trading on a given day, during both normal and reasonably foreseeable stressed conditions, to satisfy redemption requests.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to RATS determinations and determined that such policies and procedures are operating in a manner that is adequate and effective at making RATS determinations as part of the LRMP.
Security-level liquidity classifications
When classifying the liquidity of portfolio securities, the Fund adheres to the liquidity classification procedures established by the Advisor. In assigning a liquidity classification to Fund portfolio holdings, the following key inputs, among others, are considered: the Fund's RATS, feedback from the applicable Subadvisor on market-, trading- and investment-specific considerations, an assessment of current market conditions and fund portfolio holdings, and a value impact standard. The Subadvisor also provides position-level data to the Committee for use in monthly classification reconciliation in order to identify any classifications that may need to be changed as a result of the above considerations.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to security-level liquidity classifications and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Liquidity risk assessment
The Committee periodically reviews and assesses, the Fund's liquidity risk, including its investment strategy and liquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions (including whether the investment strategy is appropriate for an open-end fund, the extent to which the strategy involves a relatively concentrated portfolio or large positions in particular issuers, and the use of borrowings for investment purposes and derivatives), cash flow analysis during both normal and reasonably foreseeable stressed conditions, and holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.
The Committee also monitors global events, such as the COVID-19 Coronavirus, that could impact the markets and liquidity of portfolio investments and their classifications.
As part of its annual assessment of the LRMP, the Committee reviewed Fund-Level Liquidity Risk Assessment Reports for each of the Funds and determined that the investment strategy for each Fund continues to be appropriate for an open-ended structure.
Adequacy and Effectiveness
Based on the review and assessment conducted by the Committee, the Committee has determined that the LRMP has been implemented, and is operating in a manner that is adequate and effective at assessing and managing the liquidity risk of each Fund.
Trustees Hassell H. McClellan,Chairperson Officers Andrew G. Arnott Francis V. Knox, Jr. Charles A. Rizzo Salvatore Schiavone Christopher (Kit) Sechler | Investment advisor John Hancock Investment Management LLC Subadvisor Manulife Investment Management (US) LLC Portfolio Managers Philip Ehrmann Principal distributor John Hancock Investment Management Distributors LLC Custodian Citibank, N.A. Transfer agent John Hancock Signature Services, Inc. Legal counsel K&L Gates LLP |
* Member of the Audit Committee
† Non-Independent Trustee
The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund's holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund's Form N-PORT filings are available on our website and the SEC's website, sec.gov.
We make this information on your fund, as well asmonthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
You can also contact us: | |||
800-225-5291 jhinvestments.com | Regular mail: John Hancock Signature Services, Inc. | Express mail: John Hancock Signature Services, Inc. |
John Hancock family of funds
DOMESTIC EQUITY FUNDS Blue Chip Growth Classic Value Disciplined Value Disciplined Value Mid Cap Equity Income Financial Industries Fundamental All Cap Core Fundamental Large Cap Core New Opportunities Regional Bank Small Cap Core Small Cap Growth Small Cap Value U.S. Global Leaders Growth U.S. Quality Growth GLOBAL AND INTERNATIONAL EQUITY FUNDS Disciplined Value International Emerging Markets Emerging Markets Equity Fundamental Global Franchise Global Equity Global Shareholder Yield Global Thematic Opportunities International Dynamic Growth International Growth International Small Company | INCOME FUNDS Bond California Tax-Free Income Emerging Markets Debt Floating Rate Income Government Income High Yield High Yield Municipal Bond Income Investment Grade Bond Money Market Short Duration Bond Short Duration Credit Opportunities Strategic Income Opportunities Tax-Free Bond ALTERNATIVE AND SPECIALTY FUNDS Absolute Return Currency Alternative Asset Allocation Alternative Risk Premia Diversified Macro Infrastructure Multi-Asset Absolute Return Seaport Long/Short |
A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
ASSET ALLOCATION Balanced Multi-Asset High Income Multi-Index Lifetime Portfolios Multi-Index Preservation Portfolios Multimanager Lifestyle Portfolios Multimanager Lifetime Portfolios Retirement Income 2040 EXCHANGE-TRADED FUNDS John Hancock Multifactor Consumer Discretionary ETF John Hancock Multifactor Consumer Staples ETF John Hancock Multifactor Developed International ETF John Hancock Multifactor Emerging Markets ETF John Hancock Multifactor Energy ETF John Hancock Multifactor Financials ETF John Hancock Multifactor Healthcare ETF John Hancock Multifactor Industrials ETF John Hancock Multifactor Large Cap ETF John Hancock Multifactor Materials ETF John Hancock Multifactor Media and John Hancock Multifactor Mid Cap ETF John Hancock Multifactor Small Cap ETF John Hancock Multifactor Technology ETF John Hancock Multifactor Utilities ETF | ENVIRONMENTAL, SOCIAL, AND ESG All Cap Core ESG Core Bond ESG International Equity ESG Large Cap Core CLOSED-END FUNDS Financial Opportunities Hedged Equity & Income Income Securities Trust Investors Trust Preferred Income Preferred Income II Preferred Income III Premium Dividend Tax-Advantaged Dividend Income Tax-Advantaged Global Shareholder Yield |
John Hancock Multifactor ETF shares are bought and sold at market price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Investment Management Distributors LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock Multifactor ETFs.
John Hancock Investment Management
A trusted brand
John Hancock Investment Management is a premier asset manager
representing one of America's most trusted brands, with a heritage of
financial stewardship dating back to 1862. Helping our shareholders
pursue their financial goals is at the core of everything we do. It's why
we support the role of professional financial advice and operate with
the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world's best
managers, along with strong risk-adjusted returns across asset classes.
John Hancock Investment Management Distributors LLC n Member FINRA, SIPC
200 Berkeley Street n Boston, MA 02116-5010 n 800-225-5291 n jhinvestments.com
This report is for the information of the shareholders of John Hancock Emerging Markets Equity Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF1182594 | 456SA 4/20 6/2020 |
John Hancock
Alternative Risk Premia Fund
Semiannual report 4/30/2020
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the fund's shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change, and you do not need to take any action. You may elect to receive shareholder reports and other communications electronically by calling John Hancock Investment Management at 888-972-8696 or by contacting your financial intermediary.
You may elect to receive all reports in paper, free of charge, at any time. You can inform John Hancock Investment Management or your financial intermediary that you wish to continue receiving paper copies of your shareholder reports by following the instructions listed above. Your election to receive reports in paper will apply to all funds held with John Hancock Investment Management or your financial intermediary.
A message to shareholders
Dear shareholder,
Global financial markets were on pace to deliver strong returns during the 6 months ended April 30, 2020, until heightened fears over the coronavirus (COVID-19) sent markets tumbling during the latter half of February and early March.In response to the sell-off, governments and banks in some of the hardest hit areas throughout the world enacted policies and stimulus efforts designed to reignite their respective economies. While these measures helped lift equity and fixed-income markets in the United States during the final six weeks of the period, results were mixed in other areas of the world.
The continued spread of COVID-19, trade disputes, rising unemployment, and other geopolitical tensions may continue to create uncertainty among businesses and investors. Your financial professional can helpposition your portfolio so that it's sufficiently diversified to seek to meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I'd like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you've placed in us.
Sincerely,
Andrew G. Arnott
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO's views as of this report's period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
Alternative Risk Premia Fund
Table of contents
2 | Portfolio summary | |
4 | Your expenses | |
6 | Consolidated fund's investments | |
44 | Consolidated financial statements | |
47 | Consolidated financial highlights | |
49 | Notes to consolidated financial statements | |
61 | Evaluation of investment advisory and subadvisory agreements | |
68 | Statement regarding liquidity risk management | |
71 | More information |
TOP 10 HOLDINGS AS OF 4/30/2020 (%)
Magna International, Inc. | 0.3 |
Imperial Oil, Ltd. | 0.3 |
CyberArk Software, Ltd. | 0.3 |
NXP Semiconductors NV | 0.3 |
ORIX Corp. | 0.3 |
Shin-Etsu Chemical Company, Ltd. | 0.3 |
LyondellBasell Industries NV, Class A | 0.2 |
Brambles, Ltd. | 0.2 |
Kinnevik AB, B Shares | 0.2 |
Woolworths Group, Ltd. | 0.2 |
TOTAL | 2.6 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
TOP 10 COUNTRIES AS OF 4/30/2020 (%)
United States | 10.0 |
Japan | 3.1 |
Australia | 1.9 |
Canada | 1.2 |
United Kingdom | 1.2 |
Sweden | 0.6 |
Netherlands | 0.4 |
Ireland | 0.4 |
Israel | 0.3 |
Norway | 0.2 |
TOTAL | 19.3 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
A note about risks
The fund may be subject to various risks as described in the fund's prospectus. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange trading suspensions and closures, impact the ability to complete redemptions, and affect fund performance. For example, the novel coronavirus disease (COVID-19) has resulted in significant disruptions to global business activity. The impact of a health crisis and other epidemics and pandemics that may arise in the future, could affect the global economy in ways that cannot necessarily be foreseen at the present time. A health crisis may exacerbate other pre-existing political, social, and economic risks. Any such impact could adversely affect the funds' performance, resulting in losses to your investment. For more information, please refer to the "Principal risks" section of the prospectus.
Your expenses |
SEMIANNUAL REPORT | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | 4 |
Account value on 11-1-2019 | Ending value on 4-30-2020 | Expenses paid during period ended 4-30-20201 | Annualized expense ratio | ||
Class R6 | Actual expenses/actual returns | $1,000.00 | $860.30 | $4.70 | 1.37% |
Hypothetical example2 | 1,000.00 | 1,018.10 | 6.87 | 1.37% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 860.30 | 4.67 | 1.36% |
Hypothetical example2 | 1,000.00 | 1,018.10 | 6.82 | 1.36% |
1 | The inception date for fund is 12-17-19. Actual Expenses are equal to the fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 135/ 366 (to reflect the period). |
2 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period). |
5 | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | SEMIANNUAL REPORT |
Consolidated Fund’s investments |
Shares | Value | ||||
Common stocks 19.6% | $25,262,969 | ||||
(Cost $24,732,451) | |||||
Australia 1.9% | 2,418,782 | ||||
Alumina, Ltd. | 200,343 | 222,230 | |||
Aristocrat Leisure, Ltd. | 5,308 | 87,050 | |||
BHP Group, Ltd. | 2,701 | 55,139 | |||
BlueScope Steel, Ltd. | 41,791 | 272,764 | |||
Brambles, Ltd. | 42,251 | 301,991 | |||
Caltex Australia, Ltd. | 15,454 | 248,807 | |||
CSL, Ltd. | 921 | 183,580 | |||
Flight Centre Travel Group, Ltd. | 5,876 | 41,643 | |||
Fortescue Metals Group, Ltd. | 12,516 | 95,650 | |||
Goodman Group | 29,598 | 252,092 | |||
Magellan Financial Group, Ltd. | 3,212 | 105,214 | |||
Medibank Pvt., Ltd. | 19,435 | 34,047 | |||
Qantas Airways, Ltd. | 65,263 | 162,091 | |||
Sonic Healthcare, Ltd. | 4,461 | 78,782 | |||
Woolworths Group, Ltd. | 12,000 | 277,702 | |||
Bermuda 0.1% | 77,004 | ||||
Athene Holding, Ltd., Class A (A) | 2,852 | 77,004 | |||
Canada 1.2% | 1,610,513 | ||||
Brookfield Asset Management, Inc., Class A | 1,470 | 49,678 | |||
CI Financial Corp. | 5,076 | 53,934 | |||
Fairfax Financial Holdings, Ltd. | 898 | 243,488 | |||
Great-West Lifeco, Inc. | 11,613 | 191,221 | |||
Imperial Oil, Ltd. | 20,994 | 339,204 | |||
Keyera Corp. | 6,077 | 90,154 | |||
Magna International, Inc. | 10,098 | 393,488 | |||
National Bank of Canada | 1,051 | 42,389 | |||
Power Corp. of Canada | 5,208 | 83,286 | |||
PrairieSky Royalty, Ltd. | 5,951 | 43,523 | |||
SmartCentres Real Estate Investment Trust | 2,850 | 43,652 | |||
Thomson Reuters Corp. | 518 | 36,496 | |||
Hong Kong 0.1% | 138,595 | ||||
CK Asset Holdings, Ltd. | 21,934 | 138,595 | |||
Ireland 0.4% | 458,615 | ||||
AerCap Holdings NV (A) | 9,444 | 265,565 | |||
James Hardie Industries PLC, CHESS Depositary Interest | 6,290 | 90,297 | |||
Jazz Pharmaceuticals PLC (A) | 932 | 102,753 |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | 6 |
Shares | Value | ||||
Israel 0.3% | $337,463 | ||||
CyberArk Software, Ltd. (A) | 3,417 | 337,463 | |||
Japan 3.1% | 4,055,569 | ||||
Alps Alpine Company, Ltd. | 7,852 | 80,988 | |||
Amada Company, Ltd. | 3,298 | 29,811 | |||
Aozora Bank, Ltd. | 1,900 | 33,813 | |||
Asahi Group Holdings, Ltd. | 1,092 | 37,549 | |||
Astellas Pharma, Inc. | 12,116 | 200,388 | |||
Bridgestone Corp. | 5,683 | 176,897 | |||
Calbee, Inc. | 1,335 | 40,394 | |||
Credit Saison Company, Ltd. | 4,031 | 45,781 | |||
Daicel Corp. | 4,067 | 33,014 | |||
Hirose Electric Company, Ltd. | 432 | 47,432 | |||
Hisamitsu Pharmaceutical Company, Inc. | 804 | 37,881 | |||
Japan Airlines Company, Ltd. | 6,786 | 121,047 | |||
Japan Prime Realty Investment Corp. | 13 | 36,010 | |||
Japan Real Estate Investment Corp. | 13 | 70,216 | |||
JGC Holdings Corp. | 3,649 | 35,238 | |||
Kamigumi Company, Ltd. | 3,326 | 58,556 | |||
Kose Corp. | 1,404 | 175,517 | |||
Kurita Water Industries, Ltd. | 1,360 | 37,942 | |||
Makita Corp. | 5,927 | 192,998 | |||
Maruichi Steel Tube, Ltd. | 1,861 | 41,844 | |||
Nikon Corp. | 27,145 | 252,498 | |||
Nippon Telegraph & Telephone Corp. | 1,892 | 43,088 | |||
Nomura Research Institute, Ltd. | 6,902 | 168,968 | |||
NTT DOCOMO, Inc. | 1,289 | 37,988 | |||
ORIX Corp. | 28,643 | 337,056 | |||
Park24 Company, Ltd. | 3,067 | 48,155 | |||
Persol Holdings Company, Ltd. | 3,784 | 43,519 | |||
Resona Holdings, Inc. | 27,552 | 86,046 | |||
SBI Holdings, Inc. | 7,440 | 138,959 | |||
Sega Sammy Holdings, Inc. | 3,030 | 36,702 | |||
Seven & i Holdings Company, Ltd. | 1,200 | 39,740 | |||
Shimamura Company, Ltd. | 849 | 53,526 | |||
Shimano, Inc. | 540 | 79,572 | |||
Shin-Etsu Chemical Company, Ltd. | 2,937 | 323,957 | |||
Shionogi & Company, Ltd. | 1,112 | 61,413 | |||
SMC Corp. | 209 | 94,473 | |||
Subaru Corp. | 2,872 | 57,482 | |||
Sundrug Company, Ltd. | 941 | 32,218 | |||
Taisei Corp. | 2,968 | 92,519 | |||
Tokyo Electron, Ltd. | 1,253 | 266,865 | |||
Toshiba Corp. | 7,663 | 190,025 | |||
Yokogawa Electric Corp. | 2,750 | 37,484 |
7 | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Shares | Value | ||||
Netherlands 0.4% | $512,686 | ||||
NXP Semiconductors NV | 3,387 | 337,244 | |||
Royal Dutch Shell PLC, A Shares | 10,656 | 175,442 | |||
New Zealand 0.0% | 28,435 | ||||
Ryman Healthcare, Ltd. | 3,898 | 28,435 | |||
Norway 0.2% | 229,370 | ||||
Orkla ASA | 9,415 | 85,045 | |||
Telenor ASA | 9,409 | 144,325 | |||
Singapore 0.1% | 113,213 | ||||
ComfortDelGro Corp., Ltd. | 30,826 | 35,938 | |||
SATS, Ltd. | 20,359 | 47,168 | |||
Venture Corp., Ltd. | 2,694 | 30,107 | |||
Sweden 0.6% | 789,431 | ||||
Atlas Copco AB, A Shares | 6,486 | 223,537 | |||
Epiroc AB, B Shares | 3,576 | 35,281 | |||
Husqvarna AB, B Shares | 7,039 | 42,356 | |||
Industrivarden AB, C Shares (A) | 3,181 | 65,093 | |||
Investor AB, B Shares | 1,932 | 96,017 | |||
Kinnevik AB, B Shares | 14,360 | 295,141 | |||
Securitas AB, B Shares | 2,705 | 32,006 | |||
United Kingdom 1.2% | 1,577,765 | ||||
3i Group PLC | 14,072 | 138,241 | |||
Ashtead Group PLC | 7,453 | 203,580 | |||
BT Group PLC | 31,528 | 45,953 | |||
Burberry Group PLC | 8,411 | 146,044 | |||
Capri Holdings, Ltd. (A) | 10,477 | 159,774 | |||
Centrica PLC | 496,190 | 248,172 | |||
Direct Line Insurance Group PLC | 12,487 | 42,543 | |||
Halma PLC | 2,557 | 67,224 | |||
Johnson Matthey PLC | 1,265 | 31,695 | |||
Meggitt PLC | 12,194 | 42,699 | |||
Standard Life Aberdeen PLC | 11,982 | 33,186 | |||
Taylor Wimpey PLC | 40,510 | 74,815 | |||
The Berkeley Group Holdings PLC | 1,009 | 52,965 | |||
The British Land Company PLC | 6,579 | 33,561 | |||
The Weir Group PLC | 8,875 | 106,062 | |||
Whitbread PLC | 4,032 | 151,251 | |||
United States 10.0% | 12,915,528 | ||||
Alliance Data Systems Corp. | 1,573 | 78,756 | |||
Ally Financial, Inc. | 4,743 | 77,738 | |||
AmerisourceBergen Corp. | 1,036 | 92,888 | |||
Amgen, Inc. | 767 | 183,482 |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | 8 |
Shares | Value | ||||
United States (continued) | |||||
AO Smith Corp. | 4,614 | $195,541 | |||
Apache Corp. | 10,251 | 134,083 | |||
Applied Materials, Inc. | 917 | 45,557 | |||
Arrow Electronics, Inc. (A) | 1,639 | 103,126 | |||
Axalta Coating Systems, Ltd. (A) | 1,833 | 36,183 | |||
Biogen, Inc. (A) | 687 | 203,922 | |||
Booking Holdings, Inc. (A) | 152 | 225,047 | |||
C.H. Robinson Worldwide, Inc. | 1,203 | 85,293 | |||
Cabot Oil & Gas Corp. | 1,554 | 33,597 | |||
Camden Property Trust | 355 | 31,265 | |||
Cardinal Health, Inc. | 1,962 | 97,080 | |||
CDK Global, Inc. | 1,172 | 46,036 | |||
Celanese Corp. | 2,680 | 222,628 | |||
CenturyLink, Inc. | 8,411 | 89,325 | |||
Cerner Corp. | 3,151 | 218,648 | |||
Citrix Systems, Inc. | 1,366 | 198,084 | |||
Cognizant Technology Solutions Corp., Class A | 3,249 | 188,507 | |||
Colgate-Palmolive Company | 2,223 | 156,210 | |||
ConocoPhillips | 5,907 | 248,685 | |||
Costco Wholesale Corp. | 163 | 49,389 | |||
D.R. Horton, Inc. | 1,471 | 69,461 | |||
Delta Air Lines, Inc. | 5,036 | 130,483 | |||
Discover Financial Services | 4,462 | 191,732 | |||
Dollar General Corp. | 468 | 82,040 | |||
DXC Technology Company | 5,846 | 105,988 | |||
Eastman Chemical Company | 1,405 | 85,017 | |||
Eaton Vance Corp. | 1,890 | 69,363 | |||
Electronic Arts, Inc. (A) | 1,338 | 152,880 | |||
Eli Lilly & Company | 1,004 | 155,259 | |||
EPAM Systems, Inc. (A) | 138 | 30,483 | |||
Equitable Holdings, Inc. | 4,684 | 85,811 | |||
Federal Realty Investment Trust | 710 | 59,122 | |||
Fidelity National Financial, Inc. | 1,521 | 41,143 | |||
Flex, Ltd. (A) | 10,932 | 106,696 | |||
FLIR Systems, Inc. | 1,163 | 50,474 | |||
Flowserve Corp. | 3,874 | 109,131 | |||
HEICO Corp. | 527 | 46,165 | |||
HollyFrontier Corp. | 6,069 | 200,520 | |||
Hologic, Inc. (A) | 3,098 | 155,210 | |||
Host Hotels & Resorts, Inc. | 19,747 | 243,086 | |||
HP, Inc. | 4,678 | 72,556 | |||
Ingredion, Inc. | 586 | 47,583 | |||
Intel Corp. | 1,700 | 101,966 | |||
IPG Photonics Corp. (A) | 245 | 31,686 |
9 | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Shares | Value | ||||
United States (continued) | |||||
Jack Henry & Associates, Inc. | 239 | $39,088 | |||
Juniper Networks, Inc. | 6,231 | 134,590 | |||
Kimco Realty Corp. | 9,586 | 104,583 | |||
Lam Research Corp. | 973 | 248,387 | |||
Lamb Weston Holdings, Inc. | 647 | 39,700 | |||
Leggett & Platt, Inc. | 1,069 | 37,554 | |||
LyondellBasell Industries NV, Class A | 5,413 | 313,683 | |||
ManpowerGroup, Inc. | 1,115 | 82,778 | |||
MarketAxess Holdings, Inc. | 223 | 101,467 | |||
Masco Corp. | 4,059 | 166,581 | |||
McKesson Corp. | 842 | 118,933 | |||
Monster Beverage Corp. (A) | 1,823 | 112,680 | |||
Mylan NV (A) | 6,333 | 106,204 | |||
National Retail Properties, Inc. | 1,302 | 42,497 | |||
NetApp, Inc. | 3,615 | 158,229 | |||
NextEra Energy, Inc. | 845 | 195,296 | |||
ONEOK, Inc. | 4,849 | 145,131 | |||
Oracle Corp. | 2,580 | 136,663 | |||
Ovintiv, Inc. | 13,080 | 81,753 | |||
Polaris, Inc. | 611 | 43,338 | |||
PPG Industries, Inc. | 389 | 35,333 | |||
Public Storage | 974 | 180,628 | |||
QUALCOMM, Inc. | 2,515 | 197,855 | |||
Ralph Lauren Corp. | 2,998 | 221,192 | |||
Robert Half International, Inc. | 2,951 | 139,494 | |||
Ross Stores, Inc. | 1,848 | 168,833 | |||
SEI Investments Company | 4,307 | 219,485 | |||
Sirius XM Holdings, Inc. | 39,756 | 234,958 | |||
SL Green Realty Corp. | 3,470 | 184,084 | |||
Snap-on, Inc. | 715 | 93,157 | |||
Southwest Airlines Company | 6,718 | 209,938 | |||
Spirit AeroSystems Holdings, Inc., Class A | 1,717 | 38,049 | |||
Starbucks Corp. | 2,847 | 218,450 | |||
Steel Dynamics, Inc. | 6,874 | 166,832 | |||
Synchrony Financial | 11,233 | 222,301 | |||
T. Rowe Price Group, Inc. | 1,784 | 206,284 | |||
Take-Two Interactive Software, Inc. (A) | 1,439 | 174,191 | |||
Tapestry, Inc. | 10,580 | 157,430 | |||
Targa Resources Corp. | 15,969 | 206,958 | |||
The Allstate Corp. | 2,146 | 218,291 | |||
The Hartford Financial Services Group, Inc. | 1,011 | 38,408 | |||
The Kroger Company | 1,849 | 58,447 | |||
The Western Union Company | 4,573 | 87,207 | |||
Ulta Beauty, Inc. (A) | 476 | 103,730 |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | 10 |
Shares | Value | ||||
United States (continued) | |||||
Under Armour, Inc., Class A (A) | 3,282 | $34,198 | |||
Union Pacific Corp. | 712 | 113,770 | |||
United Airlines Holdings, Inc. (A) | 5,871 | 173,664 | |||
United Rentals, Inc. (A) | 1,043 | 134,026 | |||
Unum Group | 2,176 | 37,971 | |||
Vertex Pharmaceuticals, Inc. (A) | 526 | 132,131 | |||
Vornado Realty Trust | 2,253 | 98,726 | |||
W.R. Berkley Corp. | 1,561 | 84,294 | |||
Walgreens Boots Alliance, Inc. | 5,078 | 219,827 | |||
Waters Corp. (A) | 757 | 141,559 | |||
Xerox Holdings Corp. | 4,908 | 89,767 | |||
Preferred securities 0.0% | $45,368 | ||||
(Cost $45,770) | |||||
Germany 0.0% | 45,368 | ||||
FUCHS PETROLUB SE | 1,170 | 45,368 | |||
Rights 0.0% | $11,178 | ||||
(Cost $0) | |||||
Flight Centre Travel Group, Ltd. (Expiration Date: 5-4-20; Strike Price: AUD 7.20) (A) | 4,526 | 11,178 | |||
Yield* (%) | Maturity date | Par value^ | Value | ||
Short-term investments 14.7% | $18,994,643 | ||||
(Cost $18,995,634) | |||||
U.S. Government 14.7% | 18,994,643 | ||||
U.S. Treasury Bill | 0.078 | 07-02-20 | 5,000,000 | 4,999,150 | |
U.S. Treasury Bill | 0.080 | 06-18-20 | 7,000,000 | 6,999,113 | |
U.S. Treasury Bill | 0.104 | 09-24-20 | 7,000,000 | 6,996,380 |
Total investments (Cost $43,773,855) 34.3% | $44,314,158 | ||||
Other assets and liabilities, net 65.7% | 84,801,556 | ||||
Total net assets 100.0% | $129,115,714 |
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 | |
AUD | Australian Dollar |
Security Abbreviations and Legend | |
(A) | Non-income producing security. |
* | Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end. |
11 | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Open contracts | Number of contracts | Position | Expiration date | Notional basis^ | Notional value^ | Unrealized appreciation (depreciation) |
10-Year U.S. Treasury Note Futures | 49 | Long | Jun 2020 | $6,766,553 | $6,804,875 | $38,322 |
30-Year U.S. Treasury Bond Futures | 12 | Long | Jun 2020 | 2,167,277 | 2,165,625 | (1,652) |
ASX SPI 200 Index Futures | 41 | Long | Jun 2020 | 3,534,356 | 3,621,568 | 87,212 |
Australian 10-Year Bond Futures | 209 | Long | Jun 2020 | 20,312,823 | 20,247,730 | (65,093) |
British Pound Futures | 59 | Long | Jun 2020 | 4,565,543 | 4,644,406 | 78,863 |
CAC40 Index Futures | 21 | Long | May 2020 | 1,020,492 | 1,040,645 | 20,153 |
Canadian 10-Year Bond Futures | 16 | Long | Jun 2020 | 1,717,618 | 1,717,418 | (200) |
Canadian Dollar Futures | 69 | Long | Jun 2020 | 4,961,248 | 4,956,270 | (4,978) |
Euro Currency Futures | 64 | Long | Jun 2020 | 8,711,910 | 8,772,000 | 60,090 |
Euro-OAT Futures | 61 | Long | Jun 2020 | 11,195,775 | 11,283,793 | 88,018 |
FTSE MIB Index Futures | 6 | Long | Jun 2020 | 568,126 | 573,351 | 5,225 |
IBEX 35 Index Futures | 11 | Long | May 2020 | 826,759 | 832,843 | 6,084 |
New Zealand Dollar Futures | 180 | Long | Jun 2020 | 10,895,683 | 11,035,800 | 140,117 |
S&P TSX 60 Index Futures | 20 | Long | Jun 2020 | 2,372,744 | 2,550,379 | 177,635 |
10-Year Japan Government Bond Futures | 4 | Short | Jun 2020 | (5,681,379) | (5,694,265) | (12,886) |
Amsterdam Exchanges Index Futures | 33 | Short | May 2020 | (3,600,300) | (3,670,564) | (70,264) |
Australian Dollar Futures | 83 | Short | Jun 2020 | (5,227,652) | (5,409,110) | (181,458) |
Euro STOXX 50 Index Futures | 3 | Short | Jun 2020 | (91,158) | (94,715) | (3,557) |
Euro-BTP Italian Government Bond Futures | 9 | Short | Jun 2020 | (1,366,059) | (1,364,996) | 1,063 |
Euro-Bund Futures | 36 | Short | Jun 2020 | (6,839,651) | (6,868,771) | (29,120) |
Euro-Buxl 30-Year Bond Futures | 20 | Short | Jun 2020 | (4,691,062) | (4,783,624) | (92,562) |
FTSE 100 Index Futures | 13 | Short | Jun 2020 | (956,603) | (959,973) | (3,370) |
FTSE/JSE Top 40 Index Futures | 26 | Short | Jun 2020 | (531,083) | (649,737) | (118,654) |
German Stock Index Futures | 10 | Short | Jun 2020 | (2,904,275) | (2,965,930) | (61,655) |
Hang Seng China Enterprises Index Futures | 7 | Short | May 2020 | (440,149) | (447,158) | (7,009) |
Hang Seng Index Futures | 2 | Short | May 2020 | (310,459) | (314,150) | (3,691) |
Japanese Yen Futures | 89 | Short | Jun 2020 | (10,385,108) | (10,370,725) | 14,383 |
Long Gilt Futures | 2 | Short | Jun 2020 | (344,979) | (347,268) | (2,289) |
Mini MSCI Emerging Markets Index Futures | 13 | Short | Jun 2020 | (532,023) | (588,900) | (56,877) |
NASDAQ 100 Index E-Mini Futures | 17 | Short | Jun 2020 | (2,562,845) | (3,053,880) | (491,035) |
Russell 2000 Index Mini Futures | 5 | Short | Jun 2020 | (273,338) | (326,750) | (53,412) |
S&P 500 E-Mini Index Futures | 5 | Short | Jun 2020 | (645,078) | (725,313) | (80,235) |
Swiss Franc Futures | 123 | Short | Jun 2020 | (16,070,464) | (15,942,338) | 128,126 |
Tokyo Price Index Futures | 6 | Short | Jun 2020 | (791,203) | (812,654) | (21,451) |
$(516,157) |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | 12 |
Contract to buy | Contract to sell | Counterparty (OTC) | Contractual settlement date | Unrealized appreciation | Unrealized depreciation | ||
AUD | 1,506,534 | USD | 983,960 | BNP | 6/15/2020 | — | $(2,098) |
AUD | 4,161,832 | USD | 2,544,128 | UBS | 6/15/2020 | $168,287 | — |
BRL | 3,600,000 | USD | 714,170 | UBS | 6/17/2020 | — | (54,431) |
CAD | 1,139,298 | USD | 816,049 | JPM | 6/15/2020 | 2,504 | — |
CAD | 6,136,123 | USD | 4,373,143 | UBS | 6/15/2020 | 35,486 | — |
CNY | 5,000,000 | USD | 704,470 | JPM | 6/17/2020 | 1,171 | — |
DKK | 860,615 | USD | 132,236 | BNP | 6/15/2020 | — | (5,739) |
EUR | 5,168,978 | USD | 5,704,179 | JPM | 6/15/2020 | — | (34,860) |
EUR | 898,726 | USD | 980,809 | UBS | 6/15/2020 | 4,912 | — |
GBP | 1,939,371 | USD | 2,394,452 | BNP | 6/15/2020 | 48,629 | — |
GBP | 2,148,566 | USD | 2,609,632 | JPM | 6/15/2020 | 96,978 | — |
GBP | 1,200,000 | USD | 1,514,384 | UBS | 6/15/2020 | — | (2,710) |
INR | 1,836,343,000 | USD | 24,337,343 | UBS | 6/17/2020 | — | (139,025) |
JPY | 642,247,080 | USD | 5,974,844 | JPM | 6/15/2020 | 13,613 | — |
JPY | 884,262,785 | USD | 8,211,239 | UBS | 6/15/2020 | 33,828 | — |
KRW | 4,761,000,000 | USD | 3,851,403 | BNP | 6/17/2020 | 70,428 | — |
MXN | 148,360,000 | USD | 6,893,451 | JPM | 6/17/2020 | — | (782,306) |
NOK | 854,865 | USD | 78,080 | BNP | 6/15/2020 | 5,382 | — |
NOK | 769,750 | USD | 74,461 | JPM | 6/15/2020 | 691 | — |
NOK | 2,663,858 | USD | 260,298 | UBS | 6/15/2020 | — | (221) |
NOK | 57,100,000 | USD | 5,180,020 | JPM | 6/17/2020 | 394,817 | — |
NOK | 146,400,000 | USD | 15,195,343 | UBS | 6/17/2020 | — | (901,890) |
NZD | 97,110 | USD | 59,038 | BNP | 6/15/2020 | 518 | — |
PLN | 7,700,000 | USD | 1,843,642 | JPM | 6/17/2020 | 11,758 | — |
PLN | 10,400,000 | USD | 2,567,093 | UBS | 6/17/2020 | — | (61,100) |
RUB | 271,514,000 | USD | 3,676,181 | BNP | 6/17/2020 | — | (55,333) |
SEK | 3,274,175 | USD | 326,239 | BNP | 6/15/2020 | 9,515 | — |
SEK | 4,454,841 | USD | 449,868 | JPM | 6/15/2020 | 6,959 | — |
SEK | 10,008,091 | USD | 1,022,068 | UBS | 6/15/2020 | 4,222 | — |
SEK | 22,900,000 | USD | 2,316,423 | JPM | 6/17/2020 | 31,930 | — |
SEK | 31,700,000 | USD | 3,235,950 | UBS | 6/17/2020 | 14,827 | — |
SGD | 15,900,000 | USD | 11,285,258 | BNP | 6/17/2020 | — | (7,798) |
SGD | 14,600,000 | USD | 10,189,009 | JPM | 6/17/2020 | 166,395 | — |
TWD | 383,000,000 | USD | 12,885,135 | BNP | 6/17/2020 | 97,146 | — |
TWD | 185,500,000 | USD | 6,203,988 | UBS | 6/17/2020 | 83,775 | — |
USD | 887,322 | AUD | 1,388,823 | JPM | 6/15/2020 | — | (17,824) |
USD | 5,591,659 | AUD | 8,415,153 | UBS | 6/15/2020 | 107,202 | — |
USD | 1,338,134 | BRL | 6,900,000 | BNP | 6/17/2020 | 73,634 | — |
USD | 231,037 | BRL | 1,102,000 | UBS | 6/17/2020 | 29,084 | — |
USD | 4,599,960 | CAD | 6,408,273 | JPM | 6/15/2020 | — | (4,201) |
USD | 687,428 | CAD | 957,568 | UBS | 6/15/2020 | — | (557) |
13 | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Contract to buy | Contract to sell | Counterparty (OTC) | Contractual settlement date | Unrealized appreciation | Unrealized depreciation | ||
USD | 479,698 | CHF | 468,119 | JPM | 6/15/2020 | — | $(5,868) |
USD | 589,007 | CNY | 4,107,000 | BNP | 6/17/2020 | $9,393 | — |
USD | 621,037 | CNY | 4,400,000 | JPM | 6/17/2020 | 72 | — |
USD | 72,303 | DKK | 497,033 | JPM | 6/15/2020 | — | (753) |
USD | 18,688 | EUR | 16,761 | BNP | 6/15/2020 | 304 | — |
USD | 6,864,401 | EUR | 5,987,710 | JPM | 6/15/2020 | 297,099 | — |
USD | 1,264,019 | GBP | 1,021,904 | BNP | 6/15/2020 | — | (23,302) |
USD | 5,544,380 | GBP | 4,224,316 | UBS | 6/15/2020 | 222,891 | — |
USD | 23,778,777 | INR | 1,830,100,000 | BNP | 6/17/2020 | — | (337,274) |
USD | 15,540,358 | JPY | 1,586,627,000 | JPM | 6/15/2020 | 746,287 | — |
USD | 2,822,136 | JPY | 303,000,000 | UBS | 6/15/2020 | — | (3,105) |
USD | 4,589,393 | KRW | 5,514,210,000 | BNP | 6/17/2020 | 47,113 | — |
USD | 5,105,457 | MXN | 110,900,000 | BNP | 6/17/2020 | 537,339 | — |
USD | 1,722,393 | MXN | 42,100,000 | UBS | 6/17/2020 | — | (11,762) |
USD | 114,763 | NOK | 1,165,594 | JPM | 6/15/2020 | 964 | — |
USD | 337,005 | NOK | 3,198,115 | UBS | 6/15/2020 | 24,768 | — |
USD | 21,500,074 | NOK | 208,046,000 | JPM | 6/17/2020 | 1,187,945 | — |
USD | 2,924,516 | NOK | 30,000,000 | UBS | 6/17/2020 | — | (4,470) |
USD | 69,171 | NZD | 108,325 | UBS | 6/15/2020 | 2,737 | — |
USD | 5,975,723 | PLN | 23,007,000 | UBS | 6/17/2020 | 431,935 | — |
USD | 1,371,391 | RUB | 100,800,000 | BNP | 6/17/2020 | 27,146 | — |
USD | 2,144,696 | RUB | 167,800,000 | UBS | 6/17/2020 | — | (93,046) |
USD | 271,907 | SEK | 2,638,360 | JPM | 6/15/2020 | 1,353 | — |
USD | 2,627,707 | SEK | 24,726,446 | UBS | 6/15/2020 | 92,108 | — |
USD | 877,435 | SEK | 9,100,000 | JPM | 6/17/2020 | — | (55,754) |
USD | 7,317,503 | SEK | 70,009,000 | UBS | 6/17/2020 | 138,206 | — |
USD | 25,874,434 | SGD | 35,772,000 | JPM | 6/17/2020 | 502,278 | — |
USD | 17,483,684 | TWD | 517,045,000 | BNP | 6/17/2020 | — | (42,225) |
USD | 2,442,401 | ZAR | 41,200,000 | BNP | 6/17/2020 | 229,978 | — |
USD | 4,753,607 | ZAR | 80,500,000 | JPM | 6/17/2020 | 430,791 | — |
USD | 1,260,839 | ZAR | 22,400,000 | UBS | 6/17/2020 | 57,968 | — |
ZAR | 134,168,000 | USD | 8,285,090 | JPM | 6/17/2020 | — | (1,080,325) |
$6,502,366 | $(3,727,977) |
Credit default swaps - Buyer | ||||||||||
Counterparty (OTC)/ Centrally cleared | Reference obligation | Notional amount | Currency | USD notional amount | Pay fixed rate | Fixed payment frequency | Maturity date | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
JPM | CDX.EM.32 | 2,156,000 | USD | $2,156,000 | 1.000% | Quarterly | Dec 2024 | $101,798 | $98,255 | $200,053 |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | 14 |
Credit default swaps - Buyer (continued) | ||||||||||
Counterparty (OTC)/ Centrally cleared | Reference obligation | Notional amount | Currency | USD notional amount | Pay fixed rate | Fixed payment frequency | Maturity date | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
JPM | CDX.EM.32 | 1,176,000 | USD | $1,176,000 | 1.000% | Quarterly | Dec 2024 | $61,800 | $47,320 | $109,120 |
JPM | CDX.NA.HY.33 | 1,666,000 | USD | 1,666,000 | 5.000% | Quarterly | Dec 2024 | (150,348) | 235,178 | 84,830 |
JPM | CDX.NA.HY.33 | 1,764,000 | USD | 1,764,000 | 5.000% | Quarterly | Dec 2024 | (117,813) | 207,633 | 89,820 |
JPM | CDX.NA.HY.33 | 2,940,000 | USD | 2,940,000 | 5.000% | Quarterly | Dec 2024 | (132,779) | 282,478 | 149,699 |
JPM | CDX.NA.IG.33 | 5,300,000 | USD | 5,300,000 | 1.000% | Quarterly | Dec 2024 | (131,700) | 86,366 | (45,334) |
JPM | CDX.NA.IG.33 | 4,600,000 | USD | 4,600,000 | 1.000% | Quarterly | Dec 2024 | (93,916) | 54,569 | (39,347) |
JPM | CDX.NA.IG.33 | 6,400,000 | USD | 6,400,000 | 1.000% | Quarterly | Dec 2024 | (89,907) | 35,164 | (54,743) |
JPM | CDX.NA.IG.33 | 4,100,000 | USD | 4,100,000 | 1.000% | Quarterly | Dec 2024 | (28,815) | (6,255) | (35,070) |
JPM | CDX.NA.IG.33 | 1,400,000 | USD | 1,400,000 | 1.000% | Quarterly | Dec 2024 | 8,981 | (20,956) | (11,975) |
JPM | iTraxx Europe Crossover Series 32 Version 1 | 1,000,000 | EUR | 1,087,500 | 5.000% | Quarterly | Dec 2024 | (137,227) | 119,326 | (17,901) |
JPM | iTraxx Europe Crossover Series 32 Version 1 | 1,700,000 | EUR | 1,850,119 | 5.000% | Quarterly | Dec 2024 | (193,970) | 163,537 | (30,433) |
JPM | iTraxx Europe Crossover Series 32 Version 1 | 1,500,000 | EUR | 1,632,671 | 5.000% | Quarterly | Dec 2024 | (172,813) | 145,961 | (26,852) |
JPM | iTraxx Europe Series 32 Version 1 | 7,300,000 | EUR | 7,938,752 | 1.000% | Quarterly | Dec 2024 | (215,562) | 134,287 | (81,275) |
JPM | iTraxx Europe Series 32 Version 1 | 8,100,000 | EUR | 8,941,977 | 1.000% | Quarterly | Dec 2024 | (150,676) | 60,495 | (90,181) |
JPM | iTraxx Europe Series 32 Version 1 | 5,200,000 | EUR | 5,813,888 | 1.000% | Quarterly | Dec 2024 | (100,992) | 43,098 | (57,894) |
JPM | iTraxx Europe Series 32 Version 1 | 1,400,000 | EUR | 1,578,283 | 1.000% | Quarterly | Dec 2024 | 3,031 | (18,618) | (15,587) |
JPM | CDX.EM.33 | 800,000 | USD | 800,000 | 1.000% | Quarterly | Jun 2025 | 89,730 | (5,057) | 84,673 |
JPM | CDX.NA.IG.34 | 1,400,000 | USD | 1,400,000 | 1.000% | Quarterly | Jun 2025 | 7,530 | (18,564) | (11,034) |
JPM | iTraxx Europe Series 33 Version 1 | 1,400,000 | EUR | 1,526,634 | 1.000% | Quarterly | Jun 2025 | (2,497) | (14,296) | (16,793) |
$64,071,824 | $(1,446,145) | $1,629,921 | $183,776 |
Credit default swaps - Seller | |||||||||||
Counterparty (OTC)/ Centrally cleared | Reference obligation | Implied credit spread | Notional amount | Currency | USD notional amount | Received fixed rate | Fixed payment frequency | Maturity date | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
JPM | CDX.EM.32 | 3.259% | 2,156,000 | USD | $2,156,000 | 1.000% | Quarterly | Dec 2024 | $(79,919) | $(120,134) | $(200,053) |
JPM | CDX.EM.32 | 3.259% | 1,176,000 | USD | 1,176,000 | 1.000% | Quarterly | Dec 2024 | (133,548) | 24,428 | (109,120) |
JPM | CDX.NA.HY.33 | 6.563% | 1,764,000 | USD | 1,764,000 | 5.000% | Quarterly | Dec 2024 | 153,964 | (243,784) | (89,820) |
JPM | CDX.NA.HY.33 | 6.563% | 4,606,000 | USD | 4,606,000 | 5.000% | Quarterly | Dec 2024 | 387,498 | (622,027) | (234,529) |
JPM | CDX.NA.IG.33 | 0.846% | 5,700,000 | USD | 5,700,000 | 1.000% | Quarterly | Dec 2024 | 136,871 | (88,115) | 48,756 |
JPM | CDX.NA.IG.33 | 0.846% | 14,700,000 | USD | 14,700,000 | 1.000% | Quarterly | Dec 2024 | 345,866 | (220,127) | 125,739 |
15 | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Credit default swaps - Seller (continued) | |||||||||||
Counterparty (OTC)/ Centrally cleared | Reference obligation | Implied credit spread | Notional amount | Currency | USD notional amount | Received fixed rate | Fixed payment frequency | Maturity date | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
JPM | CDX.NA.IG.33 | 0.846% | 1,400,000 | USD | $1,400,000 | 1.000% | Quarterly | Dec 2024 | $(5,538) | $17,513 | $11,975 |
JPM | iTraxx Europe Crossover Series 32 Version 1 | 4.729% | 1,000,000 | EUR | 1,112,397 | 5.000% | Quarterly | Dec 2024 | 140,266 | (122,365) | 17,901 |
JPM | iTraxx Europe Crossover Series 32 Version 1 | 4.729% | 3,200,000 | EUR | 3,534,232 | 5.000% | Quarterly | Dec 2024 | 433,651 | (376,366) | 57,285 |
JPM | iTraxx Europe Series 32 Version 1 | 0.803% | 5,000,000 | EUR | 5,561,983 | 1.000% | Quarterly | Dec 2024 | 143,362 | (87,694) | 55,668 |
JPM | iTraxx Europe Series 32 Version 1 | 0.803% | 15,600,000 | EUR | 17,229,383 | 1.000% | Quarterly | Dec 2024 | 449,516 | (275,833) | 173,683 |
JPM | iTraxx Europe Series 32 Version 1 | 0.803% | 1,400,000 | EUR | 1,526,634 | 1.000% | Quarterly | Dec 2024 | 2,075 | 13,512 | 15,587 |
JPM | CDX.NA.IG.34 | 0.872% | 1,100,000 | USD | 1,100,000 | 1.000% | Quarterly | Jun 2025 | 6,690 | 1,977 | 8,667 |
$61,566,629 | $1,980,754 | $(2,099,015) | $(118,261) |
Total return swaps | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | ABB, Ltd. | 1-Month CHF LIBOR - 0.30% | Monthly | CHF | 28,885 | Feb 2021 | BNP | — | $(2,854) | $(2,854) |
Pay | ABIOMED, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 26,796 | Feb 2021 | BNP | — | (4,378) | (4,378) |
Pay | Advance Auto Parts, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 50,284 | Feb 2021 | BNP | — | (4,011) | (4,011) |
Pay | Aegon NV | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 97,438 | Feb 2021 | BNP | — | (8,647) | (8,647) |
Pay | AGNC Investment Corp. | 1-Day USD OBFR - 0.25% | Monthly | USD | 32,454 | Feb 2021 | BNP | — | (2,667) | (2,667) |
Pay | Alexion Pharmaceuticals, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 91,027 | Feb 2021 | BNP | — | (9,898) | (9,898) |
Pay | American Water Works Company, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 105,048 | Feb 2021 | BNP | — | 6,104 | 6,104 |
Pay | Anheuser-Busch InBev SA/NV | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 35,154 | Feb 2021 | BNP | — | 1 | 1 |
Pay | AP Moller - Maersk A/S | 1-Month DKK CIBOR - 0.30% | Monthly | DKK | 1,595,472 | Feb 2021 | BNP | — | (22,230) | (22,230) |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | 16 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | Arista Networks, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 102,299 | Feb 2021 | BNP | — | $(7,581) | $(7,581) |
Pay | ASML Holding NV | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 29,817 | Feb 2021 | BNP | — | (2,033) | (2,033) |
Pay | Baker Hughes Company | 1-Day USD OBFR - 0.25% | Monthly | USD | 150,272 | Feb 2021 | BNP | — | (12,127) | (12,127) |
Pay | Bankia SA | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 42,224 | Feb 2021 | BNP | — | 1,920 | 1,920 |
Pay | Bayerische Motoren Werke AG | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 28,134 | Feb 2021 | BNP | — | (3,471) | (3,471) |
Pay | Beiersdorf AG | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 62,854 | Feb 2021 | BNP | — | (1,948) | (1,948) |
Pay | Broadcom, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 28,576 | Feb 2021 | BNP | — | (1,577) | (1,577) |
Pay | Bunzl PLC | 1-Month GBP LIBOR - 0.30% | Monthly | GBP | 71,073 | Feb 2021 | BNP | — | (4,966) | (4,966) |
Pay | Carrefour SA | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 106,906 | Feb 2021 | BNP | — | 4,943 | 4,943 |
Pay | Cellnex Telecom SA | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 61,542 | Feb 2021 | BNP | — | (1,454) | (1,454) |
Pay | Chr. Hansen Holding A/S | 1-Month DKK CIBOR - 0.30% | Monthly | DKK | 1,185,439 | Feb 2021 | BNP | — | (19,480) | (19,480) |
Pay | Clariant AG | 1-Month CHF LIBOR - 0.30% | Monthly | CHF | 123,622 | Feb 2021 | BNP | — | (2,458) | (2,458) |
Pay | Coloplast A/S | 1-Month DKK CIBOR - 0.30% | Monthly | DKK | 451,539 | Feb 2021 | BNP | — | (1,819) | (1,819) |
Pay | Crown Holdings, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 130,916 | Feb 2021 | BNP | — | (7,135) | (7,135) |
Pay | Daimler AG | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 164,753 | Feb 2021 | BNP | — | (25,638) | (25,638) |
Pay | Danone SA | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 100,068 | Feb 2021 | BNP | — | (2,262) | (2,262) |
Pay | Davide Campari-Milano SpA | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 31,975 | Feb 2021 | BNP | — | (2,020) | (2,020) |
Pay | Delivery Hero SE | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 309,783 | Feb 2021 | BNP | — | (56,188) | (56,188) |
17 | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | Dell Technologies, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 92,954 | Feb 2021 | BNP | — | $(5,162) | $(5,162) |
Pay | Deutsche Boerse AG | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 34,769 | Feb 2021 | BNP | — | (1,981) | (1,981) |
Pay | DSV PANALPINA A/S | 1-Month DKK CIBOR - 0.30% | Monthly | DKK | 2,082,165 | Feb 2021 | BNP | — | (32,592) | (32,592) |
Pay | Eversource Energy | 1-Day USD OBFR - 0.25% | Monthly | USD | 74,337 | Feb 2021 | BNP | — | 6,860 | 6,860 |
Pay | Experian PLC | 1-Month GBP LIBOR - 0.30% | Monthly | GBP | 56,454 | Feb 2021 | BNP | — | (5,228) | (5,228) |
Pay | F5 Networks, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 29,015 | Feb 2021 | BNP | — | 328 | 328 |
Pay | FinecoBank Banca Fineco SpA | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 87,253 | Feb 2021 | BNP | — | (14,153) | (14,153) |
Pay | Ford Motor Company | 1-Day USD OBFR - 0.25% | Monthly | USD | 151,041 | Feb 2021 | BNP | — | (1,823) | (1,823) |
Pay | Franklin Resources, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 35,749 | Feb 2021 | BNP | — | (8,246) | (8,246) |
Pay | General Motors Company | 1-Day USD OBFR - 0.25% | Monthly | USD | 34,353 | Feb 2021 | BNP | — | (1,003) | (1,003) |
Pay | Genmab A/S | 1-Month DKK CIBOR - 0.30% | Monthly | DKK | 295,900 | Feb 2021 | BNP | — | (4,645) | (4,645) |
Pay | Genuine Parts Company | 1-Day USD OBFR - 0.25% | Monthly | USD | 152,338 | Feb 2021 | BNP | — | (16,550) | (16,550) |
Pay | Healthpeak Properties, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 231,795 | Feb 2021 | BNP | — | (5,849) | (5,849) |
Pay | IBM Corp. | 1-Day USD OBFR - 0.25% | Monthly | USD | 31,453 | Feb 2021 | BNP | — | (1,824) | (1,824) |
Pay | Illumina, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 78,281 | Feb 2021 | BNP | — | (6,590) | (6,590) |
Pay | Invitation Homes, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 43,953 | Feb 2021 | BNP | — | 287 | 287 |
Pay | Ionis Pharmaceuticals, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 107,362 | Feb 2021 | BNP | — | (9,985) | (9,985) |
Pay | Kellogg Company | 1-Day USD OBFR - 0.25% | Monthly | USD | 208,616 | Feb 2021 | BNP | — | (8,478) | (8,478) |
Pay | KKR & Company, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 153,520 | Feb 2021 | BNP | — | (12,961) | (12,961) |
Pay | Liberty Global PLC | 1-Day USD OBFR - 0.25% | Monthly | USD | 74,265 | Feb 2021 | BNP | — | (5,263) | (5,263) |
Pay | Marks & Spencer Group PLC | 1-Month GBP LIBOR - 0.30% | Monthly | GBP | 129,657 | Feb 2021 | BNP | — | 11,650 | 11,650 |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | 18 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | National Grid PLC | 1-Month GBP LIBOR - 0.30% | Monthly | GBP | 124,399 | Feb 2021 | BNP | — | $(8,123) | $(8,123) |
Pay | Newell Brands, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 185,731 | Feb 2021 | BNP | — | (16,802) | (16,802) |
Pay | Nokia OYJ | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 41,145 | Feb 2021 | BNP | — | (6,045) | (6,045) |
Pay | Nordea Bank Abp | 1-Month SEK STIBOR - 0.30% | Monthly | SEK | 1,372,528 | Feb 2021 | BNP | — | (21,805) | (21,805) |
Pay | Norfolk Southern Corp. | 1-Day USD OBFR - 0.25% | Monthly | USD | 203,697 | Feb 2021 | BNP | — | (22,867) | (22,867) |
Pay | Nucor Corp. | 1-Day USD OBFR - 0.25% | Monthly | USD | 52,584 | Feb 2021 | BNP | — | (8,383) | (8,383) |
Pay | Ocado Group PLC | 1-Month GBP LIBOR - 0.30% | Monthly | GBP | 150,903 | Feb 2021 | BNP | — | (7,612) | (7,612) |
Pay | Occidental Petroleum Corp. | 1-Day USD OBFR - 0.25% | Monthly | USD | 197,141 | Feb 2021 | BNP | — | (43,336) | (43,336) |
Pay | Pfizer, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 57,984 | Feb 2021 | BNP | — | (3,860) | (3,860) |
Pay | Principal Financial Group, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 139,202 | Feb 2021 | BNP | — | (31,872) | (31,872) |
Pay | Prudential Financial, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 83,525 | Feb 2021 | BNP | — | (12,043) | (12,043) |
Pay | RingCentral, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 195,335 | Feb 2021 | BNP | — | 2,433 | 2,433 |
Pay | RPM International, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 155,679 | Feb 2021 | BNP | — | (5,056) | (5,056) |
Pay | Sanofi | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 26,748 | Feb 2021 | BNP | — | (2,273) | (2,273) |
Pay | Severn Trent PLC | 1-Month GBP LIBOR - 0.30% | Monthly | GBP | 74,074 | Feb 2021 | BNP | — | (3,682) | (3,682) |
Pay | Siemens AG | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 38,416 | Feb 2021 | BNP | — | (3,288) | (3,288) |
Pay | Skanska AB | 1-Month SEK STIBOR - 0.30% | Monthly | SEK | 1,037,388 | Feb 2021 | BNP | — | (16,044) | (16,044) |
Pay | Societe Generale SA | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 130,059 | Feb 2021 | BNP | — | (8,439) | (8,439) |
19 | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | Spirax-Sarco Engineering PLC | 1-Month GBP LIBOR - 0.30% | Monthly | GBP | 69,132 | Feb 2021 | BNP | — | $(5,270) | $(5,270) |
Pay | Symrise AG | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 41,918 | Feb 2021 | BNP | — | (1,015) | (1,015) |
Pay | Telecom Italia SpA | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 139,142 | Feb 2021 | BNP | — | (3,567) | (3,567) |
Pay | Teledyne Technologies, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 86,457 | Feb 2021 | BNP | — | (3,436) | (3,436) |
Pay | Telefonaktiebolaget LM Ericsson | 1-Month SEK STIBOR - 0.30% | Monthly | SEK | 645,529 | Feb 2021 | BNP | — | (3,132) | (3,132) |
Pay | Temenos AG | 1-Month CHF LIBOR - 0.30% | Monthly | CHF | 228,260 | Feb 2021 | BNP | — | (26,469) | (26,469) |
Pay | The Clorox Company | 1-Day USD OBFR - 0.25% | Monthly | USD | 90,973 | Feb 2021 | BNP | — | 4,270 | 4,270 |
Pay | The JM Smucker Company | 1-Day USD OBFR - 0.25% | Monthly | USD | 60,700 | Feb 2021 | BNP | — | 251 | 251 |
Pay | The Procter & Gamble Company | 1-Day USD OBFR - 0.25% | Monthly | USD | 40,487 | Feb 2021 | BNP | — | 1,115 | 1,115 |
Pay | The Travelers Companies, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 67,841 | Feb 2021 | BNP | — | 630 | 630 |
Pay | Truist Financial Corp. | 1-Day USD OBFR - 0.25% | Monthly | USD | 130,688 | Feb 2021 | BNP | — | (25,106) | (25,106) |
Pay | UDR, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 149,813 | Feb 2021 | BNP | — | (1,923) | (1,923) |
Pay | United Utilities Group PLC | 1-Month GBP LIBOR - 0.30% | Monthly | GBP | 57,689 | Feb 2021 | BNP | — | (1,137) | (1,137) |
Pay | Verizon Communications, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 61,883 | Feb 2021 | BNP | — | (572) | (572) |
Pay | Volkswagen AG | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 30,212 | Feb 2021 | BNP | — | (3,438) | (3,438) |
Pay | Volvo AB | 1-Month SEK STIBOR - 0.30% | Monthly | SEK | 288,002 | Feb 2021 | BNP | — | (2,144) | (2,144) |
Pay | Vonovia SE | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 181,733 | Feb 2021 | BNP | — | 1,879 | 1,879 |
Pay | Wartsila OYJ Abp | 1-Month EUR EURIBOR - 0.30% | Monthly | EUR | 55,049 | Feb 2021 | BNP | — | (648) | (648) |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | 20 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | Western Digital Corp. | 1-Day USD OBFR - 0.25% | Monthly | USD | 88,456 | Feb 2021 | BNP | — | $(7,128) | $(7,128) |
Pay | 3M Company | 1-Day USD OBFR - 0.25% | Monthly | USD | 111,918 | Feb 2021 | BNP | — | (5,224) | (5,224) |
Pay | Advanced Micro Devices, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 154,962 | Feb 2021 | BNP | — | 7,305 | 7,305 |
Pay | Alnylam Pharmaceuticals, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 246,888 | Feb 2021 | BNP | — | (20,760) | (20,760) |
Pay | Amazon.com, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 122,307 | Feb 2021 | BNP | — | (8,828) | (8,828) |
Pay | American International Group, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 131,718 | Feb 2021 | BNP | — | (7,403) | (7,403) |
Pay | American Tower Corp. | 1-Day USD OBFR - 0.25% | Monthly | USD | 115,578 | Feb 2021 | BNP | — | 4,420 | 4,420 |
Pay | Annaly Capital Management, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 33,352 | Feb 2021 | BNP | — | (3,166) | (3,166) |
Pay | Ball Corp. | 1-Day USD OBFR - 0.25% | Monthly | USD | 71,428 | Feb 2021 | BNP | — | 2,158 | 2,158 |
Pay | Brown-Forman Corp. | 1-Day USD OBFR - 0.25% | Monthly | USD | 100,381 | Feb 2021 | BNP | — | (2,320) | (2,320) |
Pay | Cheniere Energy, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 93,360 | Feb 2021 | BNP | — | (16,559) | (16,559) |
Pay | Citigroup, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 34,674 | Feb 2021 | BNP | — | (4,615) | (4,615) |
Pay | Concho Resources, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 44,794 | Feb 2021 | BNP | — | (6,883) | (6,883) |
Pay | Corning, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 46,397 | Feb 2021 | BNP | — | (4,693) | (4,693) |
Pay | CoStar Group, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 107,085 | Feb 2021 | BNP | — | (1,184) | (1,184) |
Pay | Crown Castle International Corp. | 1-Day USD OBFR - 0.25% | Monthly | USD | 118,758 | Feb 2021 | BNP | — | 2,203 | 2,203 |
Pay | DexCom, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 93,632 | Feb 2021 | BNP | — | (13,977) | (13,977) |
Pay | DISH Network Corp. | 1-Day USD OBFR - 0.25% | Monthly | USD | 145,078 | Feb 2021 | BNP | — | (27,021) | (27,021) |
Pay | DocuSign, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 306,918 | Feb 2021 | BNP | — | (12,925) | (12,925) |
Pay | DuPont de Nemours, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 30,448 | Feb 2021 | BNP | — | (9,805) | (9,805) |
Pay | Equinix, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 71,606 | Feb 2021 | BNP | — | 29 | 29 |
21 | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | Exact Sciences Corp. | 1-Day USD OBFR - 0.25% | Monthly | USD | 162,707 | Feb 2021 | BNP | — | $(29,632) | $(29,632) |
Pay | Fortive Corp. | 1-Day USD OBFR - 0.25% | Monthly | USD | 45,475 | Feb 2021 | BNP | — | (5,154) | (5,154) |
Pay | IHS Markit, Ltd. | 1-Day USD OBFR - 0.25% | Monthly | USD | 36,737 | Feb 2021 | BNP | — | (1,156) | (1,156) |
Pay | Linde PLC | 1-Day USD OBFR - 0.25% | Monthly | USD | 67,750 | Feb 2021 | BNP | — | (1,070) | (1,070) |
Pay | LKQ Corp. | 1-Day USD OBFR - 0.25% | Monthly | USD | 112,165 | Feb 2021 | BNP | — | (31,701) | (31,701) |
Pay | MercadoLibre, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 398,509 | Feb 2021 | BNP | — | 3,422 | 3,422 |
Pay | Microsoft Corp. | 1-Day USD OBFR - 0.25% | Monthly | USD | 42,454 | Feb 2021 | BNP | — | (1,815) | (1,815) |
Pay | Mondelez International, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 106,077 | Feb 2021 | BNP | — | 4,469 | 4,469 |
Pay | National Oilwell Varco, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 156,321 | Feb 2021 | BNP | — | (18,712) | (18,712) |
Pay | Nielsen Holdings PLC | 1-Day USD OBFR - 0.25% | Monthly | USD | 85,975 | Feb 2021 | BNP | — | (10,711) | (10,711) |
Pay | NIKE, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 29,509 | Feb 2021 | BNP | — | (746) | (746) |
Pay | Okta, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 358,455 | Feb 2021 | BNP | — | (22,263) | (22,263) |
Pay | Rollins, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 137,708 | Feb 2021 | BNP | — | (11,785) | (11,785) |
Pay | Sarepta Therapeutics, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 218,127 | Feb 2021 | BNP | — | (11,297) | (11,297) |
Pay | Seattle Genetics, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 315,726 | Feb 2021 | BNP | — | (30,822) | (30,822) |
Pay | Sensata Technologies Holding PLC | 1-Day USD OBFR - 0.25% | Monthly | USD | 106,983 | Feb 2021 | BNP | — | (17,379) | (17,379) |
Pay | ServiceNow, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 75,756 | Feb 2021 | BNP | — | (14,246) | (14,246) |
Pay | Snap, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 310,615 | Feb 2021 | BNP | — | (92,225) | (92,225) |
Pay | Square, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 208,201 | Feb 2021 | BNP | — | (12,785) | (12,785) |
Pay | The Goldman Sachs Group, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 34,454 | Feb 2021 | BNP | — | (950) | (950) |
Pay | TransDigm Group, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 121,071 | Feb 2021 | BNP | — | (17,643) | (17,643) |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | 22 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | Twilio, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 372,832 | Feb 2021 | BNP | — | $(42,507) | $(42,507) |
Pay | UnitedHealth Group, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 43,942 | Feb 2021 | BNP | — | (1,689) | (1,689) |
Pay | Verisk Analytics, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 41,175 | Feb 2021 | BNP | — | (1,468) | (1,468) |
Pay | Westinghouse Air Brake Technologies Corp. | 1-Day USD OBFR - 0.25% | Monthly | USD | 243,782 | Feb 2021 | BNP | — | (33,330) | (33,330) |
Pay | Workday, Inc. | 1-Day USD OBFR - 0.25% | Monthly | USD | 176,453 | Feb 2021 | BNP | — | (9,483) | (9,483) |
Pay | Daifuku Company, Ltd. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 10,527,960 | Dec 2021 | UBS | — | (6,261) | (6,261) |
Pay | Dai-ichi Life Holdings, Inc. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 17,812,366 | Dec 2021 | UBS | — | (2,405) | (2,405) |
Pay | Daiichi Sankyo Company, Ltd. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 3,750,942 | Dec 2021 | UBS | — | 961 | 961 |
Pay | Daikin Industries, Ltd. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 3,859,965 | Dec 2021 | UBS | — | (451) | (451) |
Pay | East Japan Railway Company | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 5,801,380 | Dec 2021 | UBS | — | 3,496 | 3,496 |
Pay | Kao Corp. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 3,780,000 | Dec 2021 | UBS | — | 2,668 | 2,668 |
Pay | Koito Manufacturing Company, Ltd. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 8,058,000 | Dec 2021 | UBS | — | (2,683) | (2,683) |
Pay | Mazda Motor Corp. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 5,242,620 | Dec 2021 | UBS | — | (2,709) | (2,709) |
Pay | MEIJI Holdings Company, Ltd. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 5,760,450 | Dec 2021 | UBS | — | 1,248 | 1,248 |
Pay | Mitsubishi Chemical Holdings Corp. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 3,152,856 | Dec 2021 | UBS | — | (229) | (229) |
Pay | Mitsui Chemicals, Inc. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 14,294,868 | Dec 2021 | UBS | — | (13,425) | (13,425) |
Pay | MonotaRO Company, Ltd. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 14,087,400 | Dec 2021 | UBS | — | (12,010) | (12,010) |
Pay | Nomura Holdings, Inc. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 7,944,085 | Dec 2021 | UBS | — | (4,373) | (4,373) |
Pay | NTT Data Corp. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 15,205,700 | Dec 2021 | UBS | — | (6,064) | (6,064) |
Pay | Ono Pharmaceutical Company, Ltd. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 15,322,495 | Dec 2021 | UBS | — | (2,374) | (2,374) |
23 | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | Oriental Land Company, Ltd. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 4,390,100 | Dec 2021 | UBS | — | $1,764 | $1,764 |
Pay | Shimadzu Corp. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 7,629,813 | Dec 2021 | UBS | — | 3,600 | 3,600 |
Pay | Showa Denko KK | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 8,466,544 | Dec 2021 | UBS | — | (2,171) | (2,171) |
Pay | Sumitomo Corp. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 13,507,624 | Dec 2021 | UBS | — | (3,464) | (3,464) |
Pay | Sumitomo Mitsui Financial Group, Inc. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 3,292,145 | Dec 2021 | UBS | — | (789) | (789) |
Pay | Unicharm Corp. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 10,804,831 | Dec 2021 | UBS | — | 4,342 | 4,342 |
Pay | American Airlines Group, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 88,943 | Dec 2021 | UBS | — | 2,013 | 2,013 |
Pay | Ascendas Real Estate Investment Trust | 1-Day SGD SORA - 0.45% | Monthly | SGD | 266,721 | Dec 2021 | UBS | — | (8,650) | (8,650) |
Pay | ASX, Ltd. | 1-Day AUD IBOC - 0.45% | Monthly | AUD | 128,263 | Dec 2021 | UBS | — | (820) | (820) |
Pay | Centene Corp. | 1-Day USD OBFR - 0.35% | Monthly | USD | 143,769 | Dec 2021 | UBS | — | 5,051 | 5,051 |
Pay | Cisco Systems, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 99,773 | Dec 2021 | UBS | — | (2,082) | (2,082) |
Pay | Cognex Corp. | 1-Day USD OBFR - 0.35% | Monthly | USD | 40,540 | Dec 2021 | UBS | — | 436 | 436 |
Pay | Comerica, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 42,433 | Dec 2021 | UBS | — | (10,178) | (10,178) |
Pay | Commerzbank AG | 1-Day EUR LIBOR - 0.40% | Monthly | EUR | 68,457 | Dec 2021 | UBS | — | (8,165) | (8,165) |
Pay | CSX Corp. | 1-Day USD OBFR - 0.35% | Monthly | USD | 28,618 | Dec 2021 | UBS | — | (2,515) | (2,515) |
Pay | Dollar Tree, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 79,574 | Dec 2021 | UBS | — | (1,623) | (1,623) |
Pay | FactSet Research Systems, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 49,006 | Dec 2021 | UBS | — | 325 | 325 |
Pay | Galapagos NV | 1-Day EUR LIBOR - 0.40% | Monthly | EUR | 49,752 | Dec 2021 | UBS | — | (4,455) | (4,455) |
Pay | GrubHub, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 103,619 | Dec 2021 | UBS | — | (19,122) | (19,122) |
Pay | Guidewire Software, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 39,318 | Dec 2021 | UBS | — | (1,287) | (1,287) |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | 24 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | Hong Kong Exchanges & Clearing, Ltd. | 1-Day HKD HIBOR - 0.45% | Monthly | HKD | 277,757 | Dec 2021 | UBS | — | $72 | $72 |
Pay | Incyte Corp. | 1-Day USD OBFR - 0.35% | Monthly | USD | 48,658 | Dec 2021 | UBS | — | (3,599) | (3,599) |
Pay | Insulet Corp. | 1-Day USD OBFR - 0.35% | Monthly | USD | 140,190 | Dec 2021 | UBS | — | (9,230) | (9,230) |
Pay | Insurance Australia Group, Ltd. | 1-Day AUD IBOC - 0.45% | Monthly | AUD | 114,070 | Dec 2021 | UBS | — | 920 | 920 |
Pay | Invesco, Ltd. | 1-Day USD OBFR - 0.35% | Monthly | USD | 102,010 | Dec 2021 | UBS | — | 3,847 | 3,847 |
Pay | Iron Mountain, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 67,948 | Dec 2021 | UBS | — | 1,177 | 1,177 |
Pay | Jardine Matheson Holdings, Ltd. | 1-Day USD OBFR - 0.35% | Monthly | USD | 77,937 | Dec 2021 | UBS | — | 11,987 | 11,987 |
Pay | Koninklijke Vopak NV | 1-Day EUR LIBOR - 0.40% | Monthly | EUR | 91,043 | Dec 2021 | UBS | — | (8,860) | (8,860) |
Pay | Melco Resorts & Entertainment, Ltd. | 1-Day USD OBFR - 0.35% | Monthly | USD | 136,878 | Dec 2021 | UBS | — | (22,484) | (22,484) |
Pay | Moody's Corp. | 1-Day USD OBFR - 0.35% | Monthly | USD | 90,323 | Dec 2021 | UBS | — | (5,543) | (5,543) |
Pay | Pearson PLC | 1-Day GBP LIBOR - 0.48% | Monthly | GBP | 63,200 | Dec 2021 | UBS | — | 7,229 | 7,229 |
Pay | QIAGEN NV | 1-Day EUR LIBOR - 0.40% | Monthly | EUR | 63,023 | Dec 2021 | UBS | — | (2,637) | (2,637) |
Pay | Reckitt Benckiser Group PLC | 1-Day GBP LIBOR - 0.48% | Monthly | GBP | 36,593 | Dec 2021 | UBS | — | (2,268) | (2,268) |
Pay | Republic Services, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 94,017 | Dec 2021 | UBS | — | (1,657) | (1,657) |
Pay | Sealed Air Corp. | 1-Day USD OBFR - 0.35% | Monthly | USD | 136,431 | Dec 2021 | UBS | — | (1,572) | (1,572) |
Pay | The Cooper Companies, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 139,493 | Dec 2021 | UBS | — | 5,578 | 5,578 |
Pay | The Middleby Corp. | 1-Day USD OBFR - 0.35% | Monthly | USD | 100,058 | Dec 2021 | UBS | — | (10,777) | (10,777) |
Pay | United Parcel Service, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 104,017 | Dec 2021 | UBS | — | 5,459 | 5,459 |
Pay | Ventas, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 114,236 | Dec 2021 | UBS | — | (6,878) | (6,878) |
Pay | VMware, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 93,211 | Dec 2021 | UBS | — | 1,395 | 1,395 |
25 | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | Westpac Banking Corp. | 1-Day AUD IBOC - 0.45% | Monthly | AUD | 268,508 | Dec 2021 | UBS | — | $76 | $76 |
Pay | Wheelock & Company, Ltd. | 1-Day HKD HIBOR - 0.45% | Monthly | HKD | 226,507 | Dec 2021 | UBS | — | (1,653) | (1,653) |
Pay | Whirlpool Corp. | 1-Day USD OBFR - 0.35% | Monthly | USD | 130,856 | Dec 2021 | UBS | — | (15,552) | (15,552) |
Pay | Xilinx, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 75,744 | Dec 2021 | UBS | — | (2,928) | (2,928) |
Pay | Air Canada | 1-Day CAD CORRA Compounded OIS - 0.45% | Monthly | CAD | 205,167 | Dec 2021 | UBS | — | (12,500) | (12,500) |
Pay | Fortis, Inc. | 1-Day CAD CORRA Compounded OIS - 0.45% | Monthly | CAD | 74,353 | Dec 2021 | UBS | — | (1,036) | (1,036) |
Pay | Husky Energy, Inc. | 1-Day CAD CORRA Compounded OIS - 0.45% | Monthly | CAD | 95,929 | Dec 2021 | UBS | — | (7,126) | (7,126) |
Pay | Intact Financial Corp. | 1-Day CAD CORRA Compounded OIS - 0.45% | Monthly | CAD | 210,408 | Dec 2021 | UBS | — | 6,768 | 6,768 |
Pay | TC Energy Corp. | 1-Day CAD CORRA Compounded OIS - 0.45% | Monthly | CAD | 131,763 | Dec 2021 | UBS | — | 908 | 908 |
Pay | West Fraser Timber Company, Ltd. | 1-Day CAD CORRA Compounded OIS - 0.45% | Monthly | CAD | 176,898 | Dec 2021 | UBS | — | (36,503) | (36,503) |
Pay | Banco Santander SA | 1-Day EUR LIBOR - 0.40% | Monthly | EUR | 36,252 | Jan 2022 | UBS | — | (754) | (754) |
Pay | Bank of America Corp. | 1-Day USD OBFR - 0.35% | Monthly | USD | 40,497 | Jan 2022 | UBS | — | (3,401) | (3,401) |
Pay | BASF SE | 1-Day EUR LIBOR - 0.40% | Monthly | EUR | 38,526 | Jan 2022 | UBS | — | (2,616) | (2,616) |
Pay | Bayer AG | 1-Day EUR LIBOR - 0.40% | Monthly | EUR | 53,430 | Jan 2022 | UBS | — | (3,644) | (3,644) |
Pay | BeiGene, Ltd. | 1-Day USD OBFR - 0.35% | Monthly | USD | 149,289 | Jan 2022 | UBS | — | 3,162 | 3,162 |
Pay | CK Hutchison Holdings, Ltd. | 1-Day HKD HIBOR - 0.45% | Monthly | HKD | 288,571 | Jan 2022 | UBS | — | 41 | 41 |
Pay | Credit Agricole SA | 1-Day EUR LIBOR - 0.40% | Monthly | EUR | 137,385 | Jan 2022 | UBS | — | (25,387) | (25,387) |
Pay | Deere & Company | 1-Day USD OBFR - 0.35% | Monthly | USD | 220,014 | Jan 2022 | UBS | — | (15,891) | (15,891) |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | 26 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | Deutsche Bank AG | 1-Day EUR LIBOR - 0.40% | Monthly | EUR | 194,794 | Jan 2022 | UBS | — | $(43,549) | $(43,549) |
Pay | Deutsche Post AG | 1-Day EUR LIBOR - 0.40% | Monthly | EUR | 32,435 | Jan 2022 | UBS | — | (2,556) | (2,556) |
Pay | Ecolab, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 85,583 | Jan 2022 | UBS | — | (9,245) | (9,245) |
Pay | Elanco Animal Health, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 206,638 | Jan 2022 | UBS | — | (17,647) | (17,647) |
Pay | Electricite de France SA | 1-Day EUR LIBOR - 0.40% | Monthly | EUR | 78,114 | Jan 2022 | UBS | — | 4,039 | 4,039 |
Pay | Exxon Mobil Corp. | 1-Day USD OBFR - 0.35% | Monthly | USD | 61,449 | Jan 2022 | UBS | — | (9,101) | (9,101) |
Pay | Facebook, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 31,678 | Jan 2022 | UBS | — | (4,971) | (4,971) |
Pay | FedEx Corp. | 1-Day USD OBFR - 0.35% | Monthly | USD | 87,287 | Jan 2022 | UBS | — | (5,015) | (5,015) |
Pay | First Republic Bank | 1-Day USD OBFR - 0.35% | Monthly | USD | 263,455 | Jan 2022 | UBS | — | (27,257) | (27,257) |
Pay | Gartner, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 124,556 | Jan 2022 | UBS | — | (19,704) | (19,704) |
Pay | Hang Seng Bank, Ltd. | 1-Day HKD HIBOR - 0.45% | Monthly | HKD | 391,558 | Jan 2022 | UBS | — | 232 | 232 |
Pay | Henderson Land Development Company, Ltd. | 1-Day HKD HIBOR - 0.45% | Monthly | HKD | 853,091 | Jan 2022 | UBS | — | 844 | 844 |
Pay | Intercontinental Exchange, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 68,051 | Jan 2022 | UBS | — | (2,534) | (2,534) |
Pay | Lowe's Companies, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 31,132 | Jan 2022 | UBS | — | (3,441) | (3,441) |
Pay | Lululemon Athletica, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 64,465 | Jan 2022 | UBS | — | (4,824) | (4,824) |
Pay | LVMH Moet Hennessy Louis Vuitton SE | 1-Day EUR LIBOR - 0.40% | Monthly | EUR | 43,434 | Jan 2022 | UBS | — | (1,501) | (1,501) |
Pay | Mastercard, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 30,085 | Jan 2022 | UBS | — | (2,091) | (2,091) |
Pay | Motorola Solutions, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 141,338 | Jan 2022 | UBS | — | 4,546 | 4,546 |
Pay | Novartis AG | 1-Day CHF LIBOR - 0.48% | Monthly | CHF | 54,923 | Jan 2022 | UBS | — | (61) | (61) |
Pay | People's United Financial, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 254,706 | Jan 2022 | UBS | — | (42,699) | (42,699) |
Pay | Prologis, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 32,799 | Jan 2022 | UBS | — | (1,025) | (1,025) |
27 | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | Renault SA | 1-Day EUR LIBOR - 0.40% | Monthly | EUR | 128,528 | Jan 2022 | UBS | — | $(13,020) | $(13,020) |
Pay | Sands China, Ltd. | 1-Day HKD HIBOR - 0.45% | Monthly | HKD | 238,980 | Jan 2022 | UBS | — | (1,944) | (1,944) |
Pay | Schneider Electric SE | 1-Day EUR LIBOR - 0.40% | Monthly | EUR | 179,829 | Jan 2022 | UBS | — | (10,659) | (10,659) |
Pay | Sun Hung Kai Properties, Ltd. | 1-Day HKD HIBOR - 0.45% | Monthly | HKD | 488,240 | Jan 2022 | UBS | — | 600 | 600 |
Pay | The Bank of New York Mellon Corp. | 1-Day USD OBFR - 0.35% | Monthly | USD | 82,073 | Jan 2022 | UBS | — | (6,909) | (6,909) |
Pay | The Kraft Heinz Company | 1-Day USD OBFR - 0.35% | Monthly | USD | 98,652 | Jan 2022 | UBS | — | (8,035) | (8,035) |
Pay | US Bancorp | 1-Day USD OBFR - 0.35% | Monthly | USD | 29,297 | Jan 2022 | UBS | — | (2,791) | (2,791) |
Pay | VEREIT, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 127,208 | Jan 2022 | UBS | — | (10,577) | (10,577) |
Pay | Walmart, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 46,225 | Jan 2022 | UBS | — | 2,581 | 2,581 |
Pay | Wayfair, Inc. | 1-Day USD OBFR - 0.35% | Monthly | USD | 227,024 | Jan 2022 | UBS | — | (120,352) | (120,352) |
Pay | Wells Fargo & Company | 1-Day USD OBFR - 0.35% | Monthly | USD | 40,726 | Jan 2022 | UBS | — | (880) | (880) |
Pay | Aeon Company, Ltd. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 21,831,618 | Jan 2022 | UBS | — | 5,496 | 5,496 |
Pay | AstraZeneca PLC | 1-Day GBP LIBOR - 0.48% | Monthly | GBP | 137,755 | Jan 2022 | UBS | — | (16,144) | (16,144) |
Pay | Barclays PLC | 1-Day GBP LIBOR - 0.48% | Monthly | GBP | 60,922 | Jan 2022 | UBS | — | (16,686) | (16,686) |
Pay | BP PLC | 1-Day GBP LIBOR - 0.48% | Monthly | GBP | 137,353 | Jan 2022 | UBS | — | (7,762) | (7,762) |
Pay | Central Japan Railway Company | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 11,706,500 | Jan 2022 | UBS | — | 6,058 | 6,058 |
Pay | Commonwealth Bank of Australia | 1-Day AUD IBOC - 0.45% | Monthly | AUD | 49,842 | Jan 2022 | UBS | — | (329) | (329) |
Pay | Daiwa House Industry Company, Ltd. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 11,698,008 | Jan 2022 | UBS | — | (1,406) | (1,406) |
Pay | Dentsu Group, Inc. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 19,715,020 | Jan 2022 | UBS | — | (27,176) | (27,176) |
Pay | Fuji Electric Company, Ltd. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 24,397,737 | Jan 2022 | UBS | — | (8,717) | (8,717) |
Pay | Glencore PLC | 1-Day GBP LIBOR - 0.48% | Monthly | GBP | 138,817 | Jan 2022 | UBS | — | (16,497) | (16,497) |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | 28 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | Honda Motor Company, Ltd. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 3,656,082 | Jan 2022 | UBS | — | $(3,451) | $(3,451) |
Pay | HSBC Holdings PLC | 1-Day GBP LIBOR - 0.48% | Monthly | GBP | 74,895 | Jan 2022 | UBS | — | (452) | (452) |
Pay | Japan Post Holdings Company, Ltd. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 6,191,509 | Jan 2022 | UBS | — | (2,204) | (2,204) |
Pay | Keyence Corp. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 15,769,440 | Jan 2022 | UBS | — | (5,907) | (5,907) |
Pay | Komatsu, Ltd. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 13,416,884 | Jan 2022 | UBS | — | (8,940) | (8,940) |
Pay | Lloyds Banking Group PLC | 1-Day GBP LIBOR - 0.48% | Monthly | GBP | 117,439 | Jan 2022 | UBS | — | (12,431) | (12,431) |
Pay | M3, Inc. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 12,038,950 | Jan 2022 | UBS | — | (1,195) | (1,195) |
Pay | Mercari, Inc. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 29,941,362 | Jan 2022 | UBS | — | (63,445) | (63,445) |
Pay | Mitsubishi Corp. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 6,948,122 | Jan 2022 | UBS | — | (1,841) | (1,841) |
Pay | Mitsubishi Estate Company, Ltd. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 3,400,632 | Jan 2022 | UBS | — | (199) | (199) |
Pay | Mitsubishi UFJ Financial Group, Inc. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 5,628,249 | Jan 2022 | UBS | — | (2,190) | (2,190) |
Pay | Mitsui Fudosan Company, Ltd. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 8,887,988 | Jan 2022 | UBS | — | (7,255) | (7,255) |
Pay | Mondi PLC | 1-Day GBP LIBOR - 0.48% | Monthly | GBP | 116,473 | Jan 2022 | UBS | — | (15,432) | (15,432) |
Pay | National Australia Bank, Ltd. | 1-Day AUD IBOC - 0.45% | Monthly | AUD | 220,463 | Jan 2022 | UBS | — | (2,791) | (2,791) |
Pay | NEC Corp. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 20,209,770 | Jan 2022 | UBS | — | 7,338 | 7,338 |
Pay | Nidec Corp. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 9,516,482 | Jan 2022 | UBS | — | (6,177) | (6,177) |
Pay | Nippon Steel Corp. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 5,794,215 | Jan 2022 | UBS | — | (5,079) | (5,079) |
Pay | Nippon Yusen KK | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 17,396,800 | Jan 2022 | UBS | — | (14,905) | (14,905) |
Pay | Nissan Chemical Corp. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 11,411,400 | Jan 2022 | UBS | — | (8,036) | (8,036) |
Pay | Nissan Motor Company, Ltd. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 6,394,175 | Jan 2022 | UBS | — | (113) | (113) |
Pay | Obic Company, Ltd. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 7,383,960 | Jan 2022 | UBS | — | (3,308) | (3,308) |
29 | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | Oil Search, Ltd. | 1-Day AUD IBOC - 0.45% | Monthly | AUD | 118,110 | Jan 2022 | UBS | — | $(11,819) | $(11,819) |
Pay | Rolls-Royce Holdings PLC | 1-Day GBP LIBOR - 0.48% | Monthly | GBP | 109,142 | Jan 2022 | UBS | — | (8,891) | (8,891) |
Pay | Ryohin Keikaku Company, Ltd. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 9,572,430 | Jan 2022 | UBS | — | (15,034) | (15,034) |
Pay | Sharp Corp. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 19,768,959 | Jan 2022 | UBS | — | (4,787) | (4,787) |
Pay | SoftBank Group Corp. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 16,669,051 | Jan 2022 | UBS | — | (10,796) | (10,796) |
Pay | Takeda Pharmaceutical Company, Ltd. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 4,558,750 | Jan 2022 | UBS | — | (3,729) | (3,729) |
Pay | Tokio Marine Holdings, Inc. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 6,042,288 | Jan 2022 | UBS | — | (133) | (133) |
Pay | Transurban Group | 1-Day AUD IBOC - 0.45% | Monthly | AUD | 163,306 | Jan 2022 | UBS | — | (7,620) | (7,620) |
Pay | Treasury Wine Estates, Ltd. | 1-Day AUD IBOC - 0.45% | Monthly | AUD | 205,455 | Jan 2022 | UBS | — | 5,316 | 5,316 |
Pay | Vodafone Group PLC | 1-Day GBP LIBOR - 0.48% | Monthly | GBP | 29,457 | Jan 2022 | UBS | — | (1,427) | (1,427) |
Pay | Wm Morrison Supermarkets PLC | 1-Day GBP LIBOR - 0.48% | Monthly | GBP | 56,513 | Jan 2022 | UBS | — | (362) | (362) |
Pay | Yamato Holdings Company, Ltd. | 1-Day JPY LIBOR - 0.58% | Monthly | JPY | 9,608,512 | Jan 2022 | UBS | — | 4,310 | 4,310 |
Pay | BCE, Inc. | 1-Day CAD CORRA Compounded OIS - 0.45% | Monthly | CAD | 73,176 | Jan 2022 | UBS | — | 1,570 | 1,570 |
Pay | Canadian National Railway Company | 1-Day CAD CORRA Compounded OIS - 0.45% | Monthly | CAD | 40,331 | Jan 2022 | UBS | — | (1,709) | (1,709) |
Pay | CGI, Inc. | 1-Day CAD CORRA Compounded OIS - 0.45% | Monthly | CAD | 78,416 | Jan 2022 | UBS | — | (4,384) | (4,384) |
Pay | Enbridge, Inc. | 1-Day CAD CORRA Compounded OIS - 0.45% | Monthly | CAD | 67,777 | Jan 2022 | UBS | — | (3,231) | (3,231) |
Pay | First Quantum Minerals, Ltd. | 1-Day CAD CORRA Compounded OIS - 0.45% | Monthly | CAD | 178,078 | Jan 2022 | UBS | — | (22,495) | (22,495) |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | 30 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Pay | Gildan Activewear, Inc. | 1-Day CAD CORRA Compounded OIS - 0.45% | Monthly | CAD | 72,531 | Jan 2022 | UBS | — | $4,526 | $4,526 |
Pay | Inter Pipeline, Ltd. | 1-Day CAD CORRA Compounded OIS - 0.45% | Monthly | CAD | 221,280 | Jan 2022 | UBS | — | (26,097) | (26,097) |
Pay | Nutrien, Ltd. | 1-Day CAD CORRA Compounded OIS - 0.45% | Monthly | CAD | 89,438 | Jan 2022 | UBS | — | (1,179) | (1,179) |
Pay | Restaurant Brands International, Inc. | 1-Day CAD CORRA Compounded OIS - 0.45% | Monthly | CAD | 171,139 | Jan 2022 | UBS | — | (19,219) | (19,219) |
Pay | Shopify, Inc. | 1-Day CAD CORRA Compounded OIS - 0.45% | Monthly | CAD | 63,746 | Jan 2022 | UBS | — | (11,922) | (11,922) |
Pay | Teck Resources, Ltd. | 1-Day CAD CORRA Compounded OIS - 0.45% | Monthly | CAD | 78,483 | Jan 2022 | UBS | — | (4,684) | (4,684) |
Pay | The Toronto-Dominion Bank | 1-Day CAD CORRA Compounded OIS - 0.45% | Monthly | CAD | 56,037 | Jan 2022 | UBS | — | (1,070) | (1,070) |
Pay | Wheaton Precious Metals Corp. | 1-Day CAD CORRA Compounded OIS - 0.45% | Monthly | CAD | 90,994 | Jan 2022 | UBS | — | (8,389) | (8,389) |
Receive | ABN AMRO Bank NV | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 58,267 | Feb 2021 | BNP | — | 804 | 804 |
Receive | ACS Actividades de Construccion y Servicios SA | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 65,904 | Feb 2021 | BNP | — | 9,819 | 9,819 |
Receive | Akzo Nobel NV | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 195,812 | Feb 2021 | BNP | — | 23,291 | 23,291 |
Receive | Amphenol Corp. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 34,318 | Feb 2021 | BNP | — | 3,348 | 3,348 |
Receive | Apple, Inc. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 176,631 | Feb 2021 | BNP | — | 5,732 | 5,732 |
31 | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Arthur J. Gallagher & Company | 1-Month USD LIBOR + 0.35% | Monthly | USD | 97,703 | Feb 2021 | BNP | — | $(6,065) | $(6,065) |
Receive | Assurant, Inc. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 44,620 | Feb 2021 | BNP | — | 2,100 | 2,100 |
Receive | Atos SE | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 77,864 | Feb 2021 | BNP | — | 9,590 | 9,590 |
Receive | AvalonBay Communities, Inc. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 37,371 | Feb 2021 | BNP | — | 412 | 412 |
Receive | Baloise Holding AG | 1-Month CHF LIBOR + 0.30% | Monthly | CHF | 34,661 | Feb 2021 | BNP | — | 1,380 | 1,380 |
Receive | Barratt Developments PLC | 1-Month GBP LIBOR + 0.35% | Monthly | GBP | 39,214 | Feb 2021 | BNP | — | 9,752 | 9,752 |
Receive | Black Knight, Inc. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 33,953 | Feb 2021 | BNP | — | 3,146 | 3,146 |
Receive | Carl Zeiss Meditec AG | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 33,561 | Feb 2021 | BNP | — | (402) | (402) |
Receive | Carnival Corp. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 92,082 | Feb 2021 | BNP | — | 26,126 | 26,126 |
Receive | Citizens Financial Group, Inc. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 53,882 | Feb 2021 | BNP | — | 11,018 | 11,018 |
Receive | Compass Group PLC | 1-Month GBP LIBOR + 0.35% | Monthly | GBP | 27,929 | Feb 2021 | BNP | — | 2,606 | 2,606 |
Receive | Demant A/S | 1-Month DKK CIBOR + 0.30% | Monthly | DKK | 204,452 | Feb 2021 | BNP | — | (103) | (103) |
Receive | Discovery, Inc. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 66,847 | Feb 2021 | BNP | — | 3,313 | 3,313 |
Receive | Dufry AG | 1-Month CHF LIBOR + 0.30% | Monthly | CHF | 70,431 | Feb 2021 | BNP | — | 21,614 | 21,614 |
Receive | Elisa OYJ | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 197,196 | Feb 2021 | BNP | — | 3,221 | 3,221 |
Receive | Equity Residential | 1-Month USD LIBOR + 0.35% | Monthly | USD | 37,746 | Feb 2021 | BNP | — | (553) | (553) |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | 32 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Fiat Chrysler Automobiles NV | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 77,516 | Feb 2021 | BNP | — | $11,235 | $11,235 |
Receive | Fidelity National Information Services, Inc. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 35,207 | Feb 2021 | BNP | — | 3,418 | 3,418 |
Receive | Fiserv, Inc. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 35,310 | Feb 2021 | BNP | — | 3,525 | 3,525 |
Receive | Fresenius SE & Company KGaA | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 83,369 | Feb 2021 | BNP | — | 8,140 | 8,140 |
Receive | G4S PLC | 1-Month GBP LIBOR + 0.35% | Monthly | GBP | 26,217 | Feb 2021 | BNP | — | 5,157 | 5,157 |
Receive | Geberit AG | 1-Month CHF LIBOR + 0.30% | Monthly | CHF | 183,166 | Feb 2021 | BNP | — | 15,342 | 15,342 |
Receive | HCA Healthcare, Inc. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 83,205 | Feb 2021 | BNP | — | 257 | 257 |
Receive | Heineken NV | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 33,998 | Feb 2021 | BNP | — | 937 | 937 |
Receive | Hermes International | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 120,257 | Feb 2021 | BNP | — | (1,468) | (1,468) |
Receive | Hilton Worldwide Holdings, Inc. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 46,953 | Feb 2021 | BNP | — | 3,894 | 3,894 |
Receive | HOCHTIEF AG | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 45,750 | Feb 2021 | BNP | — | 4,670 | 4,670 |
Receive | Howmet Aerospace, Inc. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 80,079 | Feb 2021 | BNP | — | 11,933 | 11,933 |
Receive | InterContinental Hotels Group PLC | 1-Month GBP LIBOR + 0.35% | Monthly | GBP | 27,351 | Feb 2021 | BNP | — | 3,667 | 3,667 |
Receive | ITV PLC | 1-Month GBP LIBOR + 0.35% | Monthly | GBP | 80,080 | Feb 2021 | BNP | — | 14,683 | 14,683 |
Receive | JD Sports Fashion PLC | 1-Month GBP LIBOR + 0.35% | Monthly | GBP | 25,565 | Feb 2021 | BNP | — | 1,110 | 1,110 |
33 | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Kerry Group PLC | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 56,400 | Feb 2021 | BNP | — | $2,909 | $2,909 |
Receive | L'Oreal SA | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 46,229 | Feb 2021 | BNP | — | 4,053 | 4,053 |
Receive | Marsh & McLennan Companies, Inc. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 38,039 | Feb 2021 | BNP | — | 385 | 385 |
Receive | Medtronic PLC | 1-Month USD LIBOR + 0.35% | Monthly | USD | 36,106 | Feb 2021 | BNP | — | 95 | 95 |
Receive | Muenchener Rueckversicherungs Gesellschaft AG | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 74,646 | Feb 2021 | BNP | — | 4,023 | 4,023 |
Receive | Nokian Renkaat OYJ | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 48,581 | Feb 2021 | BNP | — | 3,589 | 3,589 |
Receive | Norwegian Cruise Line Holdings, Ltd. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 77,747 | Feb 2021 | BNP | — | 27,761 | 27,761 |
Receive | Novo Nordisk A/S | 1-Month DKK CIBOR + 0.30% | Monthly | DKK | 1,247,920 | Feb 2021 | BNP | — | 10,615 | 10,615 |
Receive | Peugeot SA | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 89,805 | Feb 2021 | BNP | — | 11,116 | 11,116 |
Receive | PTC, Inc. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 30,623 | Feb 2021 | BNP | — | 2,251 | 2,251 |
Receive | Quest Diagnostics, Inc. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 76,761 | Feb 2021 | BNP | — | 18,092 | 18,092 |
Receive | Red Electrica Corp. SA | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 131,397 | Feb 2021 | BNP | — | 6,012 | 6,012 |
Receive | RenaissanceRe Holdings, Ltd. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 35,798 | Feb 2021 | BNP | — | (2,966) | (2,966) |
Receive | Roche Holding AG | 1-Month CHF LIBOR + 0.30% | Monthly | CHF | 145,237 | Feb 2021 | BNP | — | 11,872 | 11,872 |
Receive | Sabre Corp. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 33,577 | Feb 2021 | BNP | — | 5,521 | 5,521 |
Receive | Sampo Oyj | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 32,489 | Feb 2021 | BNP | — | 4,497 | 4,497 |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | 34 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | SGS SA | 1-Month CHF LIBOR + 0.30% | Monthly | CHF | 37,570 | Feb 2021 | BNP | — | $(433) | $(433) |
Receive | Sonova Holding AG | 1-Month CHF LIBOR + 0.30% | Monthly | CHF | 41,140 | Feb 2021 | BNP | — | 1,095 | 1,095 |
Receive | Target Corp. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 51,739 | Feb 2021 | BNP | — | 1,672 | 1,672 |
Receive | Teradyne, Inc. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 28,595 | Feb 2021 | BNP | — | 656 | 656 |
Receive | The Blackstone Group, Inc. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 29,075 | Feb 2021 | BNP | — | 4,288 | 4,288 |
Receive | The Coca-Cola Company | 1-Month USD LIBOR + 0.35% | Monthly | USD | 64,797 | Feb 2021 | BNP | — | (2,375) | (2,375) |
Receive | The TJX Companies, Inc. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 37,714 | Feb 2021 | BNP | — | 573 | 573 |
Receive | The Walt Disney Company | 1-Month USD LIBOR + 0.35% | Monthly | USD | 36,386 | Feb 2021 | BNP | — | 1,662 | 1,662 |
Receive | Trane Technologies PLC | 1-Month USD LIBOR + 0.35% | Monthly | USD | 39,804 | Feb 2021 | BNP | — | 302 | 302 |
Receive | Tryg A/S | 1-Month DKK CIBOR + 0.30% | Monthly | DKK | 225,548 | Feb 2021 | BNP | — | (1,319) | (1,319) |
Receive | Tyler Technologies, Inc. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 54,663 | Feb 2021 | BNP | — | (499) | (499) |
Receive | Unilever NV | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 133,647 | Feb 2021 | BNP | — | (1,294) | (1,294) |
Receive | UPM-Kymmene OYJ | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 156,720 | Feb 2021 | BNP | — | 7,314 | 7,314 |
Receive | Veolia Environnement SA | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 36,524 | Feb 2021 | BNP | — | 1,279 | 1,279 |
Receive | Vivendi SA | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 166,324 | Feb 2021 | BNP | — | (7,837) | (7,837) |
Receive | Waste Management, Inc. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 35,656 | Feb 2021 | BNP | — | 1,230 | 1,230 |
35 | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Wirecard AG | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 141,795 | Feb 2021 | BNP | — | $(35,704) | $(35,704) |
Receive | Wolters Kluwer NV | 1-Month EUR EURIBOR + 0.30% | Monthly | EUR | 33,685 | Feb 2021 | BNP | — | 380 | 380 |
Receive | Zurich Insurance Group AG | 1-Month CHF LIBOR + 0.30% | Monthly | CHF | 36,856 | Feb 2021 | BNP | — | 669 | 669 |
Receive | Arch Capital Group, Ltd. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 72,013 | Feb 2021 | BNP | — | (8,765) | (8,765) |
Receive | Bunge, Ltd. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 105,813 | Feb 2021 | BNP | — | 7,847 | 7,847 |
Receive | CarMax, Inc. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 48,156 | Feb 2021 | BNP | — | 9,414 | 9,414 |
Receive | Copart, Inc. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 54,320 | Feb 2021 | BNP | — | 7,742 | 7,742 |
Receive | Lincoln National Corp. | 1-Month USD LIBOR + 0.35% | Monthly | USD | 75,285 | Feb 2021 | BNP | — | 17,086 | 17,086 |
Receive | Advantest Corp. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 7,848,230 | Dec 2021 | UBS | — | 8,076 | 8,076 |
Receive | Ajinomoto Company, Inc. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 6,966,190 | Dec 2021 | UBS | — | 277 | 277 |
Receive | Aker BP ASA | 1-Month NOK NIBOR + 0.40% | Monthly | NOK | 509,577 | Dec 2021 | UBS | — | 10,665 | 10,665 |
Receive | ANA Holdings, Inc. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 4,109,035 | Dec 2021 | UBS | — | (2,489) | (2,489) |
Receive | Asahi Kasei Corp. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 7,610,208 | Dec 2021 | UBS | — | 5,171 | 5,171 |
Receive | FUJIFILM Holdings Corp. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 4,026,484 | Dec 2021 | UBS | — | (1,707) | (1,707) |
Receive | Fujitsu, Ltd. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 5,921,140 | Dec 2021 | UBS | — | (1,390) | (1,390) |
Receive | Isuzu Motors, Ltd. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 8,332,046 | Dec 2021 | UBS | — | 8,882 | 8,882 |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | 36 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Kajima Corp. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 3,437,211 | Dec 2021 | UBS | — | — | — |
Receive | KDDI Corp. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 7,012,608 | Dec 2021 | UBS | — | $(1,391) | $(1,391) |
Receive | Konami Holdings Corp. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 3,461,040 | Dec 2021 | UBS | — | 2,771 | 2,771 |
Receive | L E Lundbergforetagen AB | 1-Month SEK STIBOR + 0.40% | Monthly | SEK | 303,283 | Dec 2021 | UBS | — | (759) | (759) |
Receive | MINEBEA MITSUMI, Inc. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 6,242,038 | Dec 2021 | UBS | — | 3,945 | 3,945 |
Receive | Mitsui OSK Lines, Ltd. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 6,793,964 | Dec 2021 | UBS | — | 4,928 | 4,928 |
Receive | Mowi ASA | 1-Month NOK NIBOR + 0.40% | Monthly | NOK | 882,998 | Dec 2021 | UBS | — | (2,881) | (2,881) |
Receive | Nippon Shinyaku Company, Ltd. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 3,215,640 | Dec 2021 | UBS | — | (3,095) | (3,095) |
Receive | Olympus Corp. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 7,823,277 | Dec 2021 | UBS | — | 2,431 | 2,431 |
Receive | Panasonic Corp. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 4,103,899 | Dec 2021 | UBS | — | — | — |
Receive | Partners Group Holding AG | 1-Month CHF LIBOR + 0.40% | Monthly | CHF | 141,316 | Dec 2021 | UBS | — | 8,067 | 8,067 |
Receive | Recruit Holdings Company, Ltd. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 23,682,400 | Dec 2021 | UBS | — | 30,054 | 30,054 |
Receive | Secom Company, Ltd. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 3,596,736 | Dec 2021 | UBS | — | (545) | (545) |
Receive | Stanley Electric Company, Ltd. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 3,052,452 | Dec 2021 | UBS | — | 2,132 | 2,132 |
Receive | Swisscom AG | 1-Month CHF LIBOR + 0.40% | Monthly | CHF | 37,080 | Dec 2021 | UBS | — | (979) | (979) |
Receive | Toray Industries, Inc. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 3,907,853 | Dec 2021 | UBS | — | 1,696 | 1,696 |
37 | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Yara International ASA | 1-Month NOK NIBOR + 0.40% | Monthly | NOK | 726,379 | Dec 2021 | UBS | — | $(688) | $(688) |
Receive | Z Holdings Corp. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 23,515,892 | Dec 2021 | UBS | — | 30,990 | 30,990 |
Receive | Accenture PLC | 1-Month USD LIBOR + 0.40% | Monthly | USD | 35,246 | Dec 2021 | UBS | — | 3,253 | 3,253 |
Receive | Acuity Brands, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 24,996 | Dec 2021 | UBS | — | 883 | 883 |
Receive | Automatic Data Processing, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 36,199 | Dec 2021 | UBS | — | 2,360 | 2,360 |
Receive | AVEVA Group PLC | 1-Month GBP LIBOR + 0.40% | Monthly | GBP | 32,671 | Dec 2021 | UBS | — | 833 | 833 |
Receive | Becton, Dickinson and Company | 1-Month USD LIBOR + 0.40% | Monthly | USD | 34,849 | Dec 2021 | UBS | — | (22) | (22) |
Receive | Challenger, Ltd. | 1-Month AUD BBSW + 0.45% | Monthly | AUD | 52,550 | Dec 2021 | UBS | — | (285) | (285) |
Receive | Chubb, Ltd. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 42,057 | Dec 2021 | UBS | — | (3,086) | (3,086) |
Receive | Cintas Corp. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 54,812 | Dec 2021 | UBS | — | 10,147 | 10,147 |
Receive | CVS Health Corp. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 42,029 | Dec 2021 | UBS | — | 666 | 666 |
Receive | Danaher Corp. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 33,607 | Dec 2021 | UBS | — | 2,332 | 2,332 |
Receive | easyJet PLC | 1-Month GBP LIBOR + 0.40% | Monthly | GBP | 62,873 | Dec 2021 | UBS | — | 303 | 303 |
Receive | Essential Utilities, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 30,492 | Dec 2021 | UBS | — | (172) | (172) |
Receive | Ferguson PLC | 1-Month GBP LIBOR + 0.40% | Monthly | GBP | 43,349 | Dec 2021 | UBS | — | 7,152 | 7,152 |
Receive | Fortune Brands Home & Security, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 47,186 | Dec 2021 | UBS | — | 5,272 | 5,272 |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | 38 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Hannover Rueck SE | 1-Month EUR EURIBOR + 0.40% | Monthly | EUR | 37,212 | Dec 2021 | UBS | — | $3,865 | $3,865 |
Receive | ING Groep NV | 1-Month EUR EURIBOR + 0.40% | Monthly | EUR | 59,974 | Dec 2021 | UBS | — | 4,136 | 4,136 |
Receive | Markel Corp. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 40,356 | Dec 2021 | UBS | — | (3,145) | (3,145) |
Receive | Newmont Corp. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 51,874 | Dec 2021 | UBS | — | 1,085 | 1,085 |
Receive | Nordstrom, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 79,188 | Dec 2021 | UBS | — | 2,699 | 2,699 |
Receive | ON Semiconductor Corp. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 58,226 | Dec 2021 | UBS | — | 10,332 | 10,332 |
Receive | Owens Corning | 1-Month USD LIBOR + 0.40% | Monthly | USD | 97,996 | Dec 2021 | UBS | — | 9,964 | 9,964 |
Receive | Paychex, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 35,365 | Dec 2021 | UBS | — | 1,958 | 1,958 |
Receive | Pentair PLC | 1-Month USD LIBOR + 0.40% | Monthly | USD | 28,630 | Dec 2021 | UBS | — | 3,174 | 3,174 |
Receive | PepsiCo, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 37,538 | Dec 2021 | UBS | — | (783) | (783) |
Receive | PulteGroup, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 59,007 | Dec 2021 | UBS | — | 10,805 | 10,805 |
Receive | PVH Corp. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 62,013 | Dec 2021 | UBS | — | 10,071 | 10,071 |
Receive | RELX PLC | 1-Month GBP LIBOR + 0.40% | Monthly | GBP | 28,357 | Dec 2021 | UBS | — | 1,426 | 1,426 |
Receive | ResMed, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 53,657 | Dec 2021 | UBS | — | (1,657) | (1,657) |
Receive | Roper Technologies, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 37,377 | Dec 2021 | UBS | — | 3,185 | 3,185 |
Receive | Smurfit Kappa Group PLC | 1-Month EUR EURIBOR + 0.40% | Monthly | EUR | 66,979 | Dec 2021 | UBS | — | 10,560 | 10,560 |
39 | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Spark New Zealand, Ltd. | 1-Month NZD BBR + 0.45% | Monthly | NZD | 47,180 | Dec 2021 | UBS | — | $929 | $929 |
Receive | Stockland | 1-Month AUD BBSW + 0.45% | Monthly | AUD | 77,234 | Dec 2021 | UBS | — | (1,212) | (1,212) |
Receive | Sun Communities, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 65,180 | Dec 2021 | UBS | — | 3,858 | 3,858 |
Receive | TransUnion | 1-Month USD LIBOR + 0.40% | Monthly | USD | 50,977 | Dec 2021 | UBS | — | 5,639 | 5,639 |
Receive | Universal Health Services, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 69,586 | Dec 2021 | UBS | — | 1,717 | 1,717 |
Receive | ViacomCBS, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 97,994 | Dec 2021 | UBS | — | 13,242 | 13,242 |
Receive | Vicinity Centres | 1-Month AUD BBSW + 0.45% | Monthly | AUD | 53,799 | Dec 2021 | UBS | — | 2,240 | 2,240 |
Receive | Waste Connections, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 35,743 | Dec 2021 | UBS | — | 747 | 747 |
Receive | West Pharmaceutical Services, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 24,256 | Dec 2021 | UBS | — | 3,547 | 3,547 |
Receive | WP Carey, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 37,839 | Dec 2021 | UBS | — | 1,540 | 1,540 |
Receive | Yum! Brands, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 32,919 | Dec 2021 | UBS | — | 3,704 | 3,704 |
Receive | Zoetis, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 43,581 | Dec 2021 | UBS | — | 1,911 | 1,911 |
Receive | Allianz SE | 1-Month EUR EURIBOR + 0.40% | Monthly | EUR | 174,107 | Jan 2022 | UBS | — | 8,935 | 8,935 |
Receive | Atlantia SpA | 1-Month EUR EURIBOR + 0.40% | Monthly | EUR | 70,148 | Jan 2022 | UBS | — | 16,979 | 16,979 |
Receive | Charter Communications, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 102,242 | Jan 2022 | UBS | — | (266) | (266) |
Receive | Deutsche Wohnen SE | 1-Month EUR EURIBOR + 0.40% | Monthly | EUR | 231,734 | Jan 2022 | UBS | — | 13,885 | 13,885 |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | 40 |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | Eutelsat Communications SA | 1-Month EUR EURIBOR + 0.40% | Monthly | EUR | 26,859 | Jan 2022 | UBS | — | $891 | $891 |
Receive | Hewlett Packard Enterprise Company | 1-Month USD LIBOR + 0.40% | Monthly | USD | 79,092 | Jan 2022 | UBS | — | 4,371 | 4,371 |
Receive | Kohl's Corp. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 127,775 | Jan 2022 | UBS | — | 5,508 | 5,508 |
Receive | Koninklijke Ahold Delhaize NV | 1-Month EUR EURIBOR + 0.40% | Monthly | EUR | 203,378 | Jan 2022 | UBS | — | 253 | 253 |
Receive | Leidos Holdings, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 54,884 | Jan 2022 | UBS | — | 3,589 | 3,589 |
Receive | Metso OYJ | 1-Month EUR EURIBOR + 0.40% | Monthly | EUR | 38,263 | Jan 2022 | UBS | — | 7,432 | 7,432 |
Receive | Micron Technology, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 46,241 | Jan 2022 | UBS | — | 1,540 | 1,540 |
Receive | Mid-America Apartment Communities, Inc. | 1-Month USD LIBOR + 0.40% | Monthly | USD | 59,499 | Jan 2022 | UBS | — | 1,026 | 1,026 |
Receive | Novozymes A/S | 1-Month DKK CIBOR + 0.40% | Monthly | DKK | 1,000,840 | Jan 2022 | UBS | — | 10,497 | 10,497 |
Receive | Orion Oyj | 1-Month EUR EURIBOR + 0.40% | Monthly | EUR | 39,179 | Jan 2022 | UBS | — | 3,886 | 3,886 |
Receive | Swiss Life Holding AG | 1-Month CHF LIBOR + 0.40% | Monthly | CHF | 34,115 | Jan 2022 | UBS | — | 1,862 | 1,862 |
Receive | The Hershey Company | 1-Month USD LIBOR + 0.40% | Monthly | USD | 70,017 | Jan 2022 | UBS | — | (5,018) | (5,018) |
Receive | The Swatch Group AG | 1-Month CHF LIBOR + 0.40% | Monthly | CHF | 154,752 | Jan 2022 | UBS | — | 993 | 993 |
Receive | Lendlease Group | 1-Month AUD BBSW + 0.45% | Monthly | AUD | 96,350 | Jan 2022 | UBS | — | 3,480 | 3,480 |
Receive | Sekisui House, Ltd. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 11,921,726 | Jan 2022 | UBS | — | 2,417 | 2,417 |
41 | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Total return swaps (continued) | ||||||||||
Pay/ receive total return* | Reference entity | Floating/ fixed rate | Payment frequency | Currency | Notional amount | Maturity date | Counterparty (OTC) | Unamortized upfront payment paid (received) | Unrealized appreciation (depreciation) | Value |
Receive | West Japan Railway Company | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 4,125,996 | Jan 2022 | UBS | — | $(1,916) | $(1,916) |
Receive | Yamaha Motor Company, Ltd. | 1-Month JPY LIBOR + 0.45% | Monthly | JPY | 10,949,967 | Jan 2022 | UBS | — | 12,219 | 12,219 |
— | $(1,493,846) | $(1,493,846) |
Derivatives Currency Abbreviations | |
AUD | Australian Dollar |
BRL | Brazilian Real |
CAD | Canadian Dollar |
CHF | Swiss Franc |
CNY | Chinese Yuan Renminbi |
DKK | Danish Krone |
EUR | Euro |
GBP | Pound Sterling |
HKD | Hong Kong Dollar |
INR | Indian Rupee |
JPY | Japanese Yen |
KRW | Korean Won |
MXN | Mexican Peso |
NOK | Norwegian Krone |
NZD | New Zealand Dollar |
PLN | Polish Zloty |
RUB | Russian Ruble |
SEK | Swedish Krona |
SGD | Singapore Dollar |
TWD | New Taiwan Dollar |
USD | U.S. Dollar |
ZAR | South African Rand |
Derivatives Abbreviations | |
BBR | Bank Bill Rate |
BBSW | Bank Bill Swap Rate |
BNP | BNP Paribas |
CIBOR | Copenhagen Interbank Offered Rate |
CORRA | Canadian Overnight Repo Rate Average |
EURIBOR | Euro Interbank Offered Rate |
HIBOR | Hong Kong Interbank Offered Rate |
IBOC | Interbank Overnight Cash Rate |
JPM | JPMorgan Chase Bank, N.A. |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | 42 |
LIBOR | London Interbank Offered Rate |
NIBOR | Norwegian Interbank Offered Rate |
OBFR | Overnight Bank Funding Rate |
OIS | Overnight Index Swap |
OTC | Over-the-counter |
SORA | Singapore Overnight Rate Average |
STIBOR | Stockholm Interbank Offered Rate |
UBS | UBS AG |
43 | JOHN HANCOCK ALTERNATIVE RISK PREMIA FUND | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Consolidated financial statements |
Assets | |
Unaffiliated investments, at value (Cost $43,773,855) | $44,314,158 |
Swap contracts, at value (net unamortized upfront payment of $1,505,147) | 2,188,735 |
Unrealized appreciation on forward foreign currency contracts | 6,502,366 |
Receivable for futures variation margin | 776,228 |
Cash | 32,355,933 |
Foreign currency, at value (Cost $30,310,806) | 30,308,536 |
Collateral held at broker for futures contracts | 4,439,516 |
Collateral segregated at custodian for OTC derivative contracts | 17,810,573 |
Dividends and interest receivable | 206,338 |
Receivable for investments sold | 5,740,621 |
Other assets | 110,072 |
Total assets | 144,753,076 |
Liabilities | |
Unrealized depreciation on forward foreign currency contracts | 3,727,977 |
Swap contracts, at value (net unamortized upfront payment of $(970,538)) | 3,617,066 |
Payable for investments purchased | 8,006,419 |
Payable to affiliates | |
Accounting and legal services fees | 6,395 |
Transfer agent fees | 1 |
Trustees' fees | 175 |
Other liabilities and accrued expenses | 279,329 |
Total liabilities | 15,637,362 |
Net assets | $129,115,714 |
Net assets consist of | |
Paid-in capital | $150,443,438 |
Total distributable earnings (loss) | (21,327,724) |
Net assets | $129,115,714 |
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 R6 ($42,988 ÷ 5,000 shares) | $8.60 |
Class NAV ($129,072,726 ÷ 15,012,166 shares) | $8.60 |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Alternative Risk Premia Fund | 44 |
Investment income | |
Dividends | $416,133 |
Interest | 343,006 |
Less foreign taxes withheld | (18,417) |
Total investment income | 740,722 |
Expenses | |
Investment management fees | 520,744 |
Accounting and legal services fees | 10,021 |
Transfer agent fees | 2 |
Trustees' fees | 832 |
Custodian fees | 49,273 |
State registration fees | 10,841 |
Printing and postage | 6,974 |
Professional fees | 89,727 |
Other | 24,388 |
Total expenses | 712,802 |
Less expense reductions | (3,643) |
Net expenses | 709,159 |
Net investment income | 31,563 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | (18,876,635) |
Futures contracts | (14,197,905) |
Forward foreign currency contracts | (2,215,963) |
Swap contracts | 12,930,382 |
(22,360,121) | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | 761,549 |
Futures contracts | (516,157) |
Forward foreign currency contracts | 2,774,389 |
Swap contracts | (1,962,940) |
1,056,841 | |
Net realized and unrealized loss | (21,303,280) |
Decrease in net assets from operations | $(21,271,717) |
1 Period from 12-17-19 (commencement of operations) to 4-30-20. |
45 | JOHN HANCOCK Alternative Risk Premia Fund | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
Period ended 4-30-201 (unaudited) | |
Increase (decrease) in net assets | |
From operations | |
Net investment income | $31,563 |
Net realized loss | (22,360,121) |
Change in net unrealized appreciation (depreciation) | 1,056,841 |
Decrease in net assets resulting from operations | (21,271,717) |
Distributions to shareholders | |
From earnings | |
Class R6 | (18) |
Class NAV | (55,989) |
Total distributions | (56,007) |
From fund share transactions | 150,443,438 |
Total increase | 129,115,714 |
Net assets | |
Beginning of period | — |
End of period | $129,115,714 |
1 | Period from 12-17-19 (commencement of operations) to 4-30-20. |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Alternative Risk Premia Fund | 46 |
CLASS R6 SHARES | Period ended 4-30-201 |
Per share operating performance | |
Net asset value, beginning of period | $10.00 |
Net investment income2 | —3 |
Net realized and unrealized gain (loss) on investments | (1.40) |
Total from investment operations | (1.40) |
Less distributions | |
From net investment income | —3 |
Net asset value, end of period | $8.60 |
Total return (%)4 | (13.97)5 |
Ratios and supplemental data | |
Net assets, end of period (in millions) | $—6 |
Ratios (as a percentage of average net assets): | |
Expenses before reductions | 1.387 |
Expenses including reductions | 1.377 |
Net investment loss | (0.41)7 |
Portfolio turnover (%) | 136 |
1 | Period from 12-17-19 (commencement of operations) to 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Less than $0.005 per share. |
4 | Total returns would have been lower had certain expenses not been reduced during the period. |
5 | Not annualized. |
6 | Less than $500,000. |
7 | Annualized. |
47 | JOHN HANCOCK Alternative Risk Premia Fund | SEMIANNUAL REPORT | SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
CLASS NAV SHARES | Period ended 4-30-201 |
Per share operating performance | |
Net asset value, beginning of period | $10.00 |
Net investment income2 | —3 |
Net realized and unrealized gain (loss) on investments | (1.40) |
Total from investment operations | (1.40) |
Less distributions | |
From net investment income | —3 |
Net asset value, end of period | $8.60 |
Total return (%)4 | (13.97)5 |
Ratios and supplemental data | |
Net assets, end of period (in millions) | $129 |
Ratios (as a percentage of average net assets): | |
Expenses before reductions | 1.376 |
Expenses including reductions | 1.366 |
Net investment loss | (0.39)6 |
Portfolio turnover (%) | 136 |
1 | Period from 12-17-19 (commencement of operations) to 4-30-20. Unaudited. |
2 | Based on average daily shares outstanding. |
3 | Less than $0.005 per share. |
4 | Total returns would have been lower had certain expenses not been reduced during the period. |
5 | Not annualized. |
6 | Annualized. |
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Alternative Risk Premia Fund | 48 |
Notes to consolidated financial statements (unaudited) |
49 | JOHN HANCOCK Alternative Risk Premia Fund | SEMIANNUAL REPORT |
Total value at 4-30-20 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Australia | $2,418,782 | — | $2,418,782 | — |
Bermuda | 77,004 | $77,004 | — | — |
Canada | 1,610,513 | 1,610,513 | — | — |
SEMIANNUAL REPORT | JOHN HANCOCK Alternative Risk Premia Fund | 50 |
Total value at 4-30-20 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Hong Kong | $138,595 | — | $138,595 | — |
Ireland | 458,615 | $368,318 | 90,297 | — |
Israel | 337,463 | 337,463 | — | — |
Japan | 4,055,569 | — | 4,055,569 | — |
Netherlands | 512,686 | 337,244 | 175,442 | — |
New Zealand | 28,435 | — | 28,435 | — |
Norway | 229,370 | — | 229,370 | — |
Singapore | 113,213 | — | 113,213 | — |
Sweden | 789,431 | — | 789,431 | — |
United Kingdom | 1,577,765 | 159,774 | 1,417,991 | — |
United States | 12,915,528 | 12,915,528 | — | — |
Preferred securities | 45,368 | — | 45,368 | — |
Rights | 11,178 | — | 11,178 | — |
Short-term investments | 18,994,643 | — | 18,994,643 | — |
Total investments in securities | $44,314,158 | $15,805,844 | $28,508,314 | — |
Derivatives: | ||||
Assets | ||||
Futures | $845,291 | $839,207 | $6,084 | — |
Forward foreign currency contracts | 6,502,366 | — | 6,502,366 | — |
Swap contracts | 2,188,735 | — | 2,188,735 | — |
Assets | ||||
Liabilities | ||||
Futures | (1,361,448) | (1,350,748) | (10,700) | — |
Forward foreign currency contracts | (3,727,977) | — | (3,727,977) | — |
Swap contracts | (3,617,066) | — | (3,617,066) | — |
51 | JOHN HANCOCK Alternative Risk Premia Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Alternative Risk Premia Fund | 52 |
53 | JOHN HANCOCK Alternative Risk Premia Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Alternative Risk Premia Fund | 54 |
55 | JOHN HANCOCK Alternative Risk Premia Fund | SEMIANNUAL REPORT |
Risk | Consolidated statement of assets and liabilities location | Financial instruments location | Assets derivatives fair value | Liabilities derivatives fair value |
Interest rate | Receivable/payable for futures variation margin | Futures | $127,403 | $(203,802) |
Currency | Receivable/payable for futures variation margin | Futures | 421,579 | (186,436) |
Equity | Receivable/payable for futures variation margin | Futures | 296,309 | (971,210) |
Currency | Unrealized appreciation / depreciation on forward foreign currency contracts | Forward foreign currency contracts | 6,502,366 | (3,727,977) |
Credit | Swap contracts, at value | Credit default swaps | 1,233,456 | (1,167,941) |
Equity | Swap contracts, at value | Total return swaps | 955,279 | (2,449,125) |
$9,536,392 | $(8,706,491) |
OTC Financial Instruments | Asset | Liability |
Forward foreign currency contracts | $6,502,366 | $(3,727,977) |
Swap contracts | 2,188,735 | (3,617,066) |
Totals | $8,691,101 | $(7,345,043) |
Counterparty | Total Market Value of OTC Derivatives | Collateral Posted by Counterparty | Collateral Posted by Portfolio | Net Exposure |
BNP Paribas | ($140,732) | — | $140,732 | — |
JPMorgan Chase Bank, N.A. | 1,977,229 | — | 2,450,000 | $4,427,229 |
UBS AG | (490,439) | — | 490,439 | — |
Totals | $1,346,058 | — | $3,081,171 | $4,427,229 |
SEMIANNUAL REPORT | JOHN HANCOCK Alternative Risk Premia Fund | 56 |
Consolidated statement of operations location - Net realized gain (loss) on: | ||||
Risk | Futures contracts | Forward foreign currency contracts | Swap contracts | Total |
Interest rate | $(5,334,571) | — | — | $(5,334,571) |
Currency | (2,659,925) | $(2,215,963) | — | (4,875,888) |
Credit | — | — | $8,012 | 8,012 |
Equity | (6,203,409) | — | 12,922,370 | 6,718,961 |
Total | $(14,197,905) | $(2,215,963) | $12,930,382 | $(3,483,486) |
Consolidated statement of operations location - Change in net unrealized appreciation (depreciation) of: | ||||
Risk | Futures contracts | Forward foreign currency contracts | Swap contracts | Total |
Interest rate | $(76,399) | — | — | $(76,399) |
Currency | 235,143 | $2,774,389 | — | 3,009,532 |
Credit | — | — | $(469,094) | (469,094) |
Equity | (674,901) | — | (1,493,846) | (2,168,747) |
Total | $(516,157) | $2,774,389 | $(1,962,940) | $295,292 |
57 | JOHN HANCOCK Alternative Risk Premia Fund | SEMIANNUAL REPORT |
Class | Expense reduction |
Class R6 | $1 |
Class NAV | 3,642 |
Total | $3,643 |
Class | Transfer agent fees |
Class R6 | $2 |
SEMIANNUAL REPORT | JOHN HANCOCK Alternative Risk Premia Fund | 58 |
Period ended 4-30-201 | ||
Shares | Amount | |
Class R6 shares | ||
Sold | 5,000 | $50,000 |
Net increase | 5,000 | $50,000 |
Class NAV shares | ||
Sold | 15,795,999 | $157,435,890 |
Distributions reinvested | 5,627 | 55,989 |
Repurchased | (789,460) | (7,098,441) |
Net increase | 15,012,166 | $150,393,438 |
Total net increase | 15,017,166 | $150,443,438 |
1 | Period from 12-17-19 (commencement of operations) to 4-30-20. |
Portfolio | Affiliated Concentration |
John Hancock Funds II Alternative Asset Allocation | 21.7% |
John Hancock Funds II Multimanager Lifestyle Conservative Portfolio | 21.1% |
John Hancock Funds II Multimanager Lifestyle Moderate Portfolio | 20.3% |
John Hancock Funds II Multimanager 2025 Lifetime Portfolio | 6.9% |
John Hancock Funds II Multimanager 2030 Lifetime Portfolio | 6.7% |
John Hancock Funds II Multimanager 2035 Lifetime Portfolio | 5.2% |
59 | JOHN HANCOCK Alternative Risk Premia Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Alternative Risk Premia Fund | 60 |
EVALUATION OF ADVISORY AND SUBADVISORY AGREEMENTS BY THE BOARD OF TRUSTEES
Approval of Advisory and Subadvisory Agreements
At an in-person meeting held on June 24-26, 2019, the Board of Trustees (the Board) of John Hancock Investment Trust (the Trust), including all of the Trustees who are not parties to any Agreement or considered to be interested persons of the Trust under the Investment Company Act of 1940, as amended (the 1940 Act) (the Independent Trustees), approved the establishment of John Hancock Alternative Risk Premia Fund (the New Fund).
This section describes the evaluation by the Board of:
(a) | an amendment to the advisory agreement between the Trust and John Hancock Investment Management LLC (the Advisor, formerly John Hancock Advisers, LLC) (the Advisory Agreement); and | |
(b) | a subadvisory agreement between the Advisor and Unigestion (UK) Limited (the Subadvisor) with respect to the New Fund (the Subadvisory Agreement). |
In considering the Advisory Agreement and the Subadvisory Agreement with respect to the New Fund, the Board received in advance of the meeting a variety of materials relating to the New Fund, the Advisor and the Subadvisor, including comparative performance, fee and expense information for a peer group of similar funds, performance information for an applicable benchmark index; and, with respect to the Subadvisor, comparative performance information for comparatively managed accounts, as applicable, and other information provided by the Advisor and the Subadvisor regarding the nature, extent, and quality of services to be provided by the Advisor and the Subadvisor under their respective Agreements, as well as information regarding the Advisor's anticipated revenues and costs of providing services to the New Fund and any compensation paid to affiliates of the Advisor. The Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor to the John Hancock Funds (the Funds), including quarterly performance reports prepared by management containing reviews of investment results. The information received and considered by the Board in connection with the June meeting and throughout the year was both written and oral. The Board also considered the nature, quality, and extent of the non-advisory services, if any, to be provided to the New Fund by the Advisor's affiliates, including distribution services. The Board also took into account information with respect to the New Fund presented at its December 11-13, 2018 in-person meeting. The Board considered the Advisory Agreement and the Subadvisory Agreement separately in the course of its review. In doing so, the Board noted the respective roles of the Advisor and Subadvisor in providing services to the New Fund.
Throughout the process, the Board asked questions of and were afforded the opportunity to request additional information from management. The Board is assisted by counsel for the Trust and the Independent Trustees are also separately assisted by independent legal counsel throughout the process. The Independent Trustees also received a memorandum from their independent legal counsel discussing the legal standards for their consideration of the proposed Advisory Agreement and Subadvisory Agreement and discussed the proposed Advisory Agreement and Subadvisory Agreement in private sessions with their independent legal counsel at which no representatives of management were present.
Approval of Advisory Agreement
In approving the Advisory Agreement with respect to the New Fund, the Board, including the Independent Trustees, considered a variety of factors, including those discussed below. The Board also considered other factors (including conditions and trends prevailing generally in the economy, the securities markets and the industry) and did not treat any single factor as determinative, and each Trustee may have attributed different weights to different factors.
The Board's conclusions may have been based in part on its consideration of the advisory and subadvisory arrangements for other Funds in prior years.
Nature, extent, and quality of services. Among the information received by the Board from the Advisor relating to the nature, extent and quality of services to be provided to the New Fund, the Board reviewed information provided by the Advisor relating to its operations and personnel, descriptions of its organizational and management structure, and information regarding the Advisor's compliance and regulatory history, including its Form ADV. The Board also noted that on a regular basis it receives and reviews information from the Trust's Chief Compliance Officer (CCO) regarding the Funds' compliance policies and procedures established pursuant to Rule 38a-1 under the 1940 Act. The Board observed that the scope of services provided by the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining and monitoring its own and the New Fund's compliance programs, risk management programs, liquidity risk management programs and cybersecurity programs, had expanded over time as a result of regulatory, market and other developments. The Board considered that the Advisor would be responsible for the management of the day-to-day operations of the New Fund, including, but not limited to, general supervision and coordination of the services to be provided by the Subadvisor, and also would be responsible for monitoring and reviewing the activities of the Subadvisor and other third-party service providers. The Board also considered the significant risks assumed by the Advisor in connection with the services to be provided to the New Fund including entrepreneurial risk in sponsoring new funds and ongoing risks including investment, operational, enterprise, litigation, regulatory and compliance risks with respect to all funds.
In considering the nature, extent and quality of the services to be provided by the Advisor, the Trustees also took into account their knowledge of the Advisor's management of other Funds and the quality of the performance of the Advisor's duties with respect to other Funds, through Board meetings, discussions and reports during the preceding year and through each Trustee's experience as a Trustee of the Trust and of the other trusts in the John Hancock group of funds complex (the John Hancock Fund Complex).
In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:
(a) | the skills and competency with which the Advisor has in the past managed the Trust's affairs and its subadvisory relationships, the Advisor's oversight and monitoring of the subadvisors' investment performance and compliance programs, such as the subadvisors' 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; |
The Board concluded that the Advisor may reasonably be expected to provide a high quality of services under the Advisory Agreement with respect to the New Fund.
Investment performance. In connection with its consideration of the Advisory Agreement, the Board considered, at this and at prior meetings, the performance of other comparable funds or accounts, if any, managed by the Advisor and the performance of their respective benchmarks and/or peer groups. The Board reviewed the performance of a composite of comparable accounts managed by the Subadvisor and the performance of an applicable benchmark and peer group of comparable funds over various time periods. The Board took into account the relatively short performance history of the composite. The Board also noted that it reviews at its regularly scheduled meetings information about the performance of other John Hancock Funds managed by the Advisor.
Fees and Expenses. The Board reviewed comparative information including, among other data, the New Fund's anticipated management fees and net total expenses as compared to similarly situated investment companies deemed to be comparable to the New Fund. The Board noted that the New Fund's anticipated management fees, which include both advisory and administrative costs, were lower than the peer group median and the peer group average. The Board also noted that the New Fund's anticipated net total expenses were higher than the peer group median and lower than the peer group average for Class A and Class R6 shares. The Board took into account management's discussion of the New Fund's anticipated expenses. The Board reviewed information provided by the Advisor concerning investment advisory fees charged to other clients (including other funds in the complex) having similar investment mandates, if any. The Board considered any differences between the Advisor's and Subadvisor's services to the New Fund and the services they provide to other such comparable clients or funds.
The Board also took into account management's discussion with respect to the proposed management fee and the fees of the Subadvisor, including the amount of the advisory fee to be retained by the Advisor after payment of the subadvisory fee, in each case in light of the services rendered for those amounts and the risks undertaken by the Advisor. The Board also noted that the Advisor, and not the New Fund, would be responsible for paying the subadvisory fees and that such fees are negotiated at arm's length with respect to the Subadvisor. The Board also took into account that management has agreed to implement an overall fee waiver across a number of funds in the complex, including the New Fund, which is discussed further below. The Board also noted that the New Fund has breakpoints in its contractual management fee schedule that reduces the New Fund's management fees as its assets increase.
The Board concluded that the advisory fees to be paid by the New Fund are reasonable in light of the nature, extent and quality of the services expected to be provided to the New Fund under the Advisory Agreement.
Profitability/Fall Out Benefits. In considering the costs of the services to be provided and the profits to be realized by the Advisor and its affiliates from the Advisor's relationship with the New Fund, the Board:
(a) | reviewed financial information of the Advisor; | ||
(b) | reviewed and considered information presented by the Advisor regarding the anticipated net profitability to the Advisor and its affiliates with respect to the New Fund; | ||
(c) | received and reviewed profitability information with respect to the John Hancock Fund Complex as a whole; | ||
(d) | received information with respect to the Advisor's allocation methodologies used in preparing the profitability data; | ||
(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 will also provide administrative services to the New Fund on a cost basis pursuant to an administrative services agreement; | ||
(g) | noted that affiliates of the Advisor will 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 will derive reputational and other indirect benefits from providing advisory services to the New Fund; | ||
(i) | noted that the subadvisory fee for the New Fund will be paid by Advisor and is negotiated at arm's length; and | ||
(j) | considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it will provide to the New Fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk. |
Based upon its review, the Board concluded that the anticipated level of profitability, if any, of the Advisor and its affiliates from their relationship with the New Fund is reasonable and not excessive.
Economies of Scale. In considering the extent to which economies of scale would be realized if the New Fund grows and whether fee levels reflect these economies of scale for the benefit of fund shareholders, the Board:
(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 New 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 proposed advisory fee structure for the New Fund and concluded that: (i) the New 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 New Fund; and (ii) although economies of scale cannot be measured with precision, these arrangements will permit shareholders of the New Fund to benefit from economies of scale if the New Fund grows. The Board also took into account management's discussion of the New Fund's advisory fee structure; and | ||
(c) | the Board also considered the potential effect of the New Fund's future growth in size on its performance and fees. The Board also noted that if the New Fund's assets increase over time, the New Fund may realize other economies of scale. |
Approval of Subadvisory Agreement
In making its determination with respect to approval of the Subadvisory Agreement, the Board reviewed:
(a) | information relating to the Subadvisor's business; | ||
(b) | the performance of comparable funds, as applicable, managed by the New Fund's Subadvisor; | ||
(c) | the proposed subadvisory fee for the New Fund, including any breakpoints; and | ||
(d) | Information relating to the nature and scope of any material relationships and their significance to the Trust's Advisor and Subadvisor. |
Nature, Extent, and Quality of Services. With respect to the services to be provided by the Subadvisor, the Board received and reviewed information provided to the Board by the Subadvisor, including the Subadvisor's Form ADV. The Board considered the Subadvisor's current level of staffing and its overall resources, as well as considered information relating to the Subadvisor's compensation program. The Board reviewed the Subadvisor's history and investment experience, as well as information regarding the qualifications, background, and responsibilities of the Subadvisor's investment and compliance personnel who will provide services to the New Fund. The Board considered, among other things, the Subadvisor's compliance program and any disciplinary history. The Board also considered the Subadvisor's risk assessment and monitoring process. The Board reviewed the Subadvisor's regulatory history, including whether it was involved in any regulatory actions or investigations as well as material litigation, and any settlements and amelioratory actions undertaken, as appropriate. The Board noted that the Advisor conducts regular periodic reviews of the Subadvisor and its operations in regard to the Funds, including regarding investment processes and organizational and staffing matters. The Board also noted that the Trust's CCO and his staff conduct regular, periodic compliance reviews with the Subadvisor and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisor and procedures reasonably designed to
assure compliance with the federal securities laws. The Board also took into account the financial condition of the Subadvisor.
The Board considered the Subadvisor's investment process and philosophy. The Board took into account that the Subadvisor's responsibilities will include the development and maintenance of an investment program for the New Fund that is consistent with the New Fund's investment objective, the selection of investment securities and the placement of orders for the purchase and sale of such securities, as well as the implementation of compliance controls related to performance of these services. The Board also received information with respect to the Subadvisor's brokerage policies and practices, including with respect to best execution and soft dollars.
Subadvisor compensation. In considering the cost of services to be provided by the Subadvisor and the profitability to the Subadvisor of its relationship with the New Fund, the Board noted that the fees under the Subadvisory Agreement will be paid by the Advisor and not the New Fund.
The Board also relied on the ability of the Advisor to negotiate the Subadvisory Agreement with the Subadvisor, which is not affiliated with the Advisor, and the fees thereunder at arm's length. As a result, the costs of the services to be provided and the profits to be realized by the Subadvisor from its relationship with the Trust were not a factor in the Board's consideration of the Subadvisory Agreement.
The Board also received information regarding the nature and scope (including their significance to the Advisor and its affiliates and to the Subadvisor) of any material relationships with respect to the Subadvisor, which include arrangements in which the Subadvisor or its affiliates provide advisory, distribution, or management services in connection with financial products sponsored by the Advisor or its affiliates, and may include other registered investment companies, a 529 education savings plan, managed separate accounts and exempt group annuity contracts sold to qualified plans. The Board also received information and took into account any other potential conflicts of interest the Advisor might have in connection with the Subadvisory Agreement.
In addition, the Board considered other potential indirect benefits that the Subadvisor and its affiliates may receive from the Subadvisor's relationship with the New Fund, such as the opportunity to provide advisory services to additional funds in the John Hancock Fund Complex and reputational benefits.
Subadvisory fees. The Board considered that the New Fund will pay an advisory fee to the Advisor and that, in turn, the Advisor will pay a subadvisory fee to the Subadvisor. As noted above, the Board also considered the New Fund's subadvisory fee as compared to similarly situated investment companies deemed to be comparable to the New Fund, as applicable. The Board noted that the New Fund's anticipated subadvisory fees were lower than the peer group median and equal to the peer group average.
Subadvisor performance. As noted above, the Board considered performance results of comparable funds managed by the Subadvisor against an applicable benchmark. The Board also noted that it reviews at its regularly scheduled meetings information about the performance of other John Hancock Funds managed by the Advisor. The Board noted the Advisor's expertise and resources in monitoring the performance, investment style and risk-adjusted performance of the Subadvisor. The Board was mindful of the Advisor's focus on the Subadvisor's performance. The Board also noted the Subadvisor's long-term performance record for similar accounts, as applicable.
The Board's decision to approve the Subadvisory Agreement was based on a number of determinations, including the following:
(1) | the Subadvisor has extensive experience and demonstrated skills as a manager, and may reasonably be expected to provide a high quality of investment management services to the New Fund; |
(2) | the Subadvisor provided performance information for a composite of comparable accounts over various time periods; | |||||||
(3) | the proposed subadvisory fees are reasonable in relation to the level and quality of services to be provided under the Subadvisory Agreement; and | |||||||
(4) | that the subadvisory fees will be paid by the Advisor not the New Fund and that the subadvisory fee breakpoints are reflected as breakpoints in the advisory fees for the New Fund in order to permit shareholders to benefit from economies of scale if the New Fund grows. | |||||||
* * * |
Based on the Board's evaluation of all factors that the Board deemed to be material, including those factors described above, and assisted by the advice of independent legal counsel, the Board, including the Independent Trustees, concluded that approval of the Advisory Agreement and the Subadvisory Agreement would be in the best interest of the New Fund and its shareholders. Accordingly, the Board, and the Independent Trustees voting separately, approved the amendment to the Advisory Agreement and the Subadvisory Agreement.
STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT
Operation of the Liquidity Risk Management Program
This section describes operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock Alternative Risk Premia Fund, subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Fund's subadvisor, Unigestion (UK) Limited (the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.
The Committee holds monthly meetings to: (1) review the day-to-day operations of the LRMP; (2) review and approve month end liquidity classifications; (3) review quarterly testing and determinations, as applicable; and (4) review other LRMP related material. The Committee also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Committee may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity and valuation issues.
The Committee provided the Board at a meeting held on March 15-17, 2020 with a written report which addressed the Committee's assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period December 1, 2018 through December 31, 2019, included an assessment of important aspects of the LRMP including, but not limited to:
• Operation of the Fund's Redemption-In-Kind Procedures;
• Highly Liquid Investment Minimum (HLIM) determination;
• Compliance with the 15% limit on illiquid investments;
• Reasonably Anticipated Trade Size (RATS) determination;
• Security-level liquidity classifications; and
• Liquidity risk assessment.
The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee's actions to address such matters.
Redemption-In-Kind Procedures
Rule 22e-4 requires any fund that engages in or reserves the right to engage in in-kind redemptions to adopt and implement written policies and procedures regarding in-kind redemptions as part of the management of its liquidity risk. These procedures address the process for redeeming in kind, as well as the circumstances under which the Fund would consider redeeming in kind. Anticipated large redemption activity will be evaluated to identify situations where redeeming in securities instead of cash may be appropriate.
As part of its annual assessment of the LRMP, the Committee reviewed the implementation and operation of the Redemption-In-Kind Procedures and determined they are operating in a manner that such procedures are adequate and effective to manage in-kind redemptions on behalf of the Fund as part of the LRMP.
Highly Liquid Investment Minimum determination
The Committee uses an HLIM model to determine a Fund's HLIM. This process incorporates the Fund's investment strategy, historical redemptions, liquidity classification rollup percentages and cash balances, redemption policy, access to funding sources, distribution channels and client concentrations. If the Fund falls below its established HLIM for a period greater than 7 consecutive calendar days, the Committee prepares a report to the Board within one business day following the seventh consecutive calendar day with an explanation of how the Fund plans to restore its HLIM within a reasonable period of time.
Based on the HLIM model, the Committee has determined that the Fund qualifies as a Primarily Highly Liquid Fund (PHLF). It is therefore not required to establish a HLIM. The Fund is tested quarterly to confirm its PHLF status.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to HLIM and PHLF determinations, and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Compliance with the 15% limit on illiquid investments
Rule 22e-4 sets an aggregate illiquid investment limit of 15% for a fund. Funds are prohibited from acquiring an illiquid investment if this results in greater than 15% of its net assets being classified as illiquid. When applying this limit, the Committee defines "illiquid investment" to mean any investment that the Fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. If a 15% illiquid investment limit breach occurs for longer than 1 business day, the Fund is required to notify the Board and provide a plan on how to bring illiquid investments within the 15% threshold, and after 7 days confidentially notify the Securities and Exchange Commission (the SEC).
In February 2019, as a result of extended security markets closures in connection with the Chinese New Year in certain countries, the SEC released guidance, and the Committee approved and adopted an Extended Market Holiday Policy to plan for and monitor known Extended Market Holidays (defined as all expected market holiday closures spanning four or more calendar days).
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to the 15% illiquid investment limit and determined such policies and procedures are operating in a manner that is adequate and effective as part of the LMRP.
Reasonably Anticipated Trade Size determination
In order to assess the liquidity risk of a Fund, the Committee considers the impact on the Fund that redemptions of a RATS would have under both normal and reasonably foreseeable stressed conditions. Modelling the Fund's RATS requires quantifying cash flow volatility and analyzing distribution channel concentration and redemption risk. The model is designed to estimate the amount of assets that the Fund could reasonably anticipate trading on a given day, during both normal and reasonably foreseeable stressed conditions, to satisfy redemption requests.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to RATS determinations and determined that such policies and procedures are operating in a manner that is adequate and effective at making RATS determinations as part of the LRMP.
Security-level liquidity classifications
When classifying the liquidity of portfolio securities, the Fund adheres to the liquidity classification procedures established by the Advisor. In assigning a liquidity classification to Fund portfolio holdings, the following key inputs, among others, are considered: the Fund's RATS, feedback from the applicable Subadvisor on market-, trading- and investment-specific considerations, an assessment of current market conditions and fund portfolio holdings, and a value impact standard. The Subadvisor also provides position-level data to the Committee for use in monthly classification reconciliation in order to identify any classifications that may need to be changed as a result of the above considerations.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to security-level liquidity classifications and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Liquidity risk assessment
The Committee periodically reviews and assesses, the Fund's liquidity risk, including its investment strategy and liquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions (including whether the investment strategy is appropriate for an open-end fund, the extent to which the strategy involves a relatively concentrated portfolio or large positions in particular issuers, and the use of borrowings for investment purposes and derivatives), cash flow analysis during both normal and reasonably foreseeable stressed conditions, and holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.
The Committee also monitors global events, such as the COVID-19 Coronavirus, that could impact the markets and liquidity of portfolio investments and their classifications.
As part of its annual assessment of the LRMP, the Committee reviewed Fund-Level Liquidity Risk Assessment Reports for each of the Funds and determined that the investment strategy for each Fund continues to be appropriate for an open-ended structure.
Adequacy and Effectiveness
Based on the review and assessment conducted by the Committee, the Committee has determined that the LRMP has been implemented, and is operating in a manner that is adequate and effective at assessing and managing the liquidity risk of each Fund.
Trustees Hassell H. McClellan,Chairperson Officers Andrew G. Arnott Francis V. Knox, Jr. Charles A. Rizzo Salvatore Schiavone Christopher (Kit) Sechler | Investment advisor John Hancock Investment Management LLC Subadvisor Unigestion (UK) Limited Portfolio Managers Olivier Blin Principal distributor John Hancock Investment Management Distributors LLC Custodian Citibank, N.A. Transfer agent John Hancock Signature Services, Inc. Legal counsel K&L Gates LLP |
* Member of the Audit Committee
† Non-Independent Trustee
The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund's holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund's Form N-PORT filings are available on our website and the SEC's website, sec.gov.
We make this information on your fund, as well asmonthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
You can also contact us: | |||
800-225-5291 jhinvestments.com | Regular mail: John Hancock Signature Services, Inc. | Express mail: John Hancock Signature Services, Inc. |
John Hancock family of funds
DOMESTIC EQUITY FUNDS Blue Chip Growth Classic Value Disciplined Value Disciplined Value Mid Cap Equity Income Financial Industries Fundamental All Cap Core Fundamental Large Cap Core New Opportunities Regional Bank Small Cap Core Small Cap Growth Small Cap Value U.S. Global Leaders Growth U.S. Quality Growth GLOBAL AND INTERNATIONAL EQUITY FUNDS Disciplined Value International Emerging Markets Emerging Markets Equity Fundamental Global Franchise Global Equity Global Shareholder Yield Global Thematic Opportunities International Dynamic Growth International Growth International Small Company | INCOME FUNDS Bond California Tax-Free Income Emerging Markets Debt Floating Rate Income Government Income High Yield High Yield Municipal Bond Income Investment Grade Bond Money Market Short Duration Bond Short Duration Credit Opportunities Strategic Income Opportunities Tax-Free Bond ALTERNATIVE AND SPECIALTY FUNDS Absolute Return Currency Alternative Asset Allocation Alternative Risk Premia Diversified Macro Infrastructure Multi-Asset Absolute Return Seaport Long/Short |
A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
ASSET ALLOCATION Balanced Multi-Asset High Income Multi-Index Lifetime Portfolios Multi-Index Preservation Portfolios Multimanager Lifestyle Portfolios Multimanager Lifetime Portfolios Retirement Income 2040 EXCHANGE-TRADED FUNDS John Hancock Multifactor Consumer Discretionary ETF John Hancock Multifactor Consumer Staples ETF John Hancock Multifactor Developed International ETF John Hancock Multifactor Emerging Markets ETF John Hancock Multifactor Energy ETF John Hancock Multifactor Financials ETF John Hancock Multifactor Healthcare ETF John Hancock Multifactor Industrials ETF John Hancock Multifactor Large Cap ETF John Hancock Multifactor Materials ETF John Hancock Multifactor Media and John Hancock Multifactor Mid Cap ETF John Hancock Multifactor Small Cap ETF John Hancock Multifactor Technology ETF John Hancock Multifactor Utilities ETF | ENVIRONMENTAL, SOCIAL, AND ESG All Cap Core ESG Core Bond ESG International Equity ESG Large Cap Core CLOSED-END FUNDS Financial Opportunities Hedged Equity & Income Income Securities Trust Investors Trust Preferred Income Preferred Income II Preferred Income III Premium Dividend Tax-Advantaged Dividend Income Tax-Advantaged Global Shareholder Yield |
John Hancock Multifactor ETF shares are bought and sold at market price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Investment Management Distributors LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock Multifactor ETFs.
John Hancock Investment Management
A trusted brand
John Hancock Investment Management is a premier asset manager
representing one of America's most trusted brands, with a heritage of
financial stewardship dating back to 1862. Helping our shareholders
pursue their financial goals is at the core of everything we do. It's why
we support the role of professional financial advice and operate with
the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world's best
managers, along with strong risk-adjusted returns across asset classes.
John Hancock Investment Management Distributors LLC n Member FINRA, SIPC
200 Berkeley Street n Boston, MA 02116-5010 n 800-225-5291 n jhinvestments.com
This report is for the information of the shareholders of John Hancock Alternative Risk Premia Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF1182578 | 475SA 4/20 6/2020 |
John Hancock
Global Thematic Opportunities Fund
Semiannual report 4/30/2020
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the fund's shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change, and you do not need to take any action. You may elect to receive shareholder reports and other communications electronically by calling John Hancock Investment Management at 800-225-5291 (Class A and Class C shares) or 888-972-8696 (Class I and Class R6 shares) or by contacting your financial intermediary.
You may elect to receive all reports in paper, free of charge, at any time. You can inform John Hancock Investment Management or your financial intermediary that you wish to continue receiving paper copies of your shareholder reports by following the instructions listed above. Your election to receive reports in paper will apply to all funds held with John Hancock Investment Management or your financial intermediary.
A message to shareholders
Dear shareholder,
Global financial markets were on pace to deliver strong returns during the 6 months ended April 30, 2020, until heightened fears over the coronavirus (COVID-19) sent markets tumbling during the latter half of February and early March.In response to the sell-off, governments and banks in some of the hardest hit areas throughout the world enacted policies and stimulus efforts designed to reignite their respective economies. While these measures helped lift equity and fixed-income markets in the United States during the final six weeks of the period, results were mixed in other areas of the world.
The continued spread of COVID-19, trade disputes, rising unemployment, and other geopolitical tensions may continue to create uncertainty among businesses and investors. Your financial professional can helpposition your portfolio so that it's sufficiently diversified to seek to meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I'd like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you've placed in us.
Sincerely,
Andrew G. Arnott
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO's views as of this report's period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
Global Thematic Opportunities Fund
INVESTMENT OBJECTIVE
The fund seeks growth through capital appreciation by investing mainly in equities of companies that may benefit from global long-term market themes.
TOTAL RETURNS AS OF 4/30/2020 (%)
The MSCI All Country World Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower. Since inception returns for the Morningstar fund category average are not available.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus. The fund recently experienced negative short-term performance due to market volatility associated with the COVID-19 pandemic.
SECTOR COMPOSITION AS OF 4/30/2020 (%)
TOP 10 HOLDINGS AS OF 4/30/2020 (%)
Roche Holding AG | 3.8 |
UnitedHealth Group, Inc. | 3.5 |
Visa, Inc., Class A | 3.2 |
Thermo Fisher Scientific, Inc. | 3.2 |
Fidelity National Information Services, Inc. | 3.2 |
Fidelity National Financial, Inc. | 2.9 |
Cisco Systems, Inc. | 2.8 |
Boston Scientific Corp. | 2.7 |
Synopsys, Inc. | 2.7 |
Daikin Industries, Ltd. | 2.6 |
TOTAL | 30.6 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
TOP 10 COUNTRIES AS OF 4/30/2020 (%)
United States | 57.0 |
France | 6.5 |
Switzerland | 5.4 |
China | 4.8 |
Ireland | 4.0 |
Japan | 4.0 |
United Kingdom | 4.0 |
South Korea | 3.9 |
Germany | 3.1 |
Netherlands | 1.4 |
TOTAL | 94.1 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
A note about risks
The fund may be subject to various risks as described in the fund's prospectus. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange trading suspensions and closures, impact the ability to complete redemptions, and affect fund performance. For example, the novel coronavirus disease (COVID-19) has resulted in significant disruptions to global business activity. The impact of a health crisis and other epidemics and pandemics that may arise in the future, could affect the global economy in ways that cannot necessarily be foreseen at the present time. A health crisis may exacerbate other pre-existing political, social, and economic risks. Any such impact could adversely affect the funds' performance, resulting in losses to your investment. For more information, please refer to the "Principal risks" section of the prospectus.
TOTAL RETURNS FOR THE PERIOD ENDED APRIL 30, 2020
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | ||||||
1-year | Since inception1 | 6-month | Since inception1 | ||||
Class A | -7.42 | 4.03 | -12.24 | 5.59 | |||
Class C | -4.22 | 7.21 | -8.86 | 10.07 | |||
Class I2 | -2.33 | 8.25 | -7.59 | 11.54 | |||
Class R62 | -2.16 | 8.38 | -7.43 | 11.73 | |||
Class NAV2 | -2.24 | 8.39 | -7.50 | 11.74 | |||
Index 1† | -4.96 | 4.03 | -7.68 | 5.59 | |||
Index 2† | -4.00 | 4.86 | -7.29 | 6.76 |
Performance figures assume all distributions are reinvested. Figures reflect maximum sales charges on Class A shares of 5% and the applicable contingent deferred sales charge (CDSC) on Class C shares. Class C shares sold within one year of purchase are subject to a 1% CDSC. Sales charges are not applicable to Class I, Class R6, and Class NAV shares.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectuses for the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until February 28, 2021 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Class A | Class C | Class I | Class R6 | Class NAV | |
Gross (%) | 1.37 | 2.12 | 1.12 | 1.01 | 1.00 |
Net (%) | 1.19 | 1.94 | 0.94 | 0.85 | 0.84 |
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.
The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.
The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.
† | Index 1 is the MSCI All Country World Index; Index 2 is the MSCI World Index. |
See the following page for footnotes.
This chart and table show what happened to a hypothetical $10,000 investment in John Hancock Global Thematic Opportunities Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in two separate indexes.
Start date | With maximum sales charge ($) | Without sales charge ($) | Index 1 ($) | Index 2 ($) | |
Class C3 | 12-14-18 | 11,007 | 11,007 | 10,559 | 10,676 |
Class I2 | 12-14-18 | 11,154 | 11,154 | 10,559 | 10,676 |
Class R62 | 12-14-18 | 11,173 | 11,173 | 10,559 | 10,676 |
Class NAV2 | 12-14-18 | 11,174 | 11,174 | 10,559 | 10,676 |
The MSCI All Country World Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets.
The MSCI World Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets.
Prior to March 1, 2020, the fund's primary benchmark was the MSCI World Index. Effective March 1, 2020, the fund's primary benchmark is the MSCI All Country World Index, which is better aligned with the fund's investment strategy.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Footnotes related to performance pages
1 | From 12-14-18. |
2 | For certain types of investors, as described in the fund's prospectuses. |
3 | The contingent deferred sales charge is not applicable. |
Your expenses |
SEMIANNUAL REPORT | JOHN HANCOCK GLOBAL THEMATIC OPPORTUNITIES FUND | 7 |
Account value on 11-1-2019 | Ending value on 4-30-2020 | Expenses paid during period ended 4-30-20201 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $923.50 | $5.69 | 1.19% |
Hypothetical example | 1,000.00 | 1,018.90 | 5.97 | 1.19% | |
Class C | Actual expenses/actual returns | 1,000.00 | 920.30 | 9.21 | 1.93% |
Hypothetical example | 1,000.00 | 1,015.30 | 9.67 | 1.93% | |
Class I | Actual expenses/actual returns | 1,000.00 | 924.10 | 4.50 | 0.94% |
Hypothetical example | 1,000.00 | 1,020.20 | 4.72 | 0.94% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 925.70 | 4.07 | 0.85% |
Hypothetical example | 1,000.00 | 1,020.60 | 4.27 | 0.85% | |
Class NAV | Actual expenses/actual returns | 1,000.00 | 925.00 | 4.02 | 0.84% |
Hypothetical example | 1,000.00 | 1,020.70 | 4.22 | 0.84% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period). |
8 | JOHN HANCOCK GLOBAL THEMATIC OPPORTUNITIES FUND | SEMIANNUAL REPORT |
Fund’s investments |
Shares | Value | ||||
Common stocks 95.3% | $297,651,266 | ||||
(Cost $281,654,683) | |||||
China 4.8% | 15,011,842 | ||||
Alibaba Group Holding, Ltd., ADR (A) | 25,539 | 5,175,985 | |||
NetEase, Inc., ADR | 12,207 | 4,210,927 | |||
Tencent Holdings, Ltd. | 107,000 | 5,624,930 | |||
France 6.5% | 20,311,734 | ||||
Kering SA | 14,276 | 7,262,298 | |||
Schneider Electric SE | 84,864 | 7,842,518 | |||
Worldline SA (A)(B) | 76,878 | 5,206,918 | |||
Germany 3.1% | 9,610,477 | ||||
Siemens AG | 70,025 | 6,462,154 | |||
Vonovia SE | 63,668 | 3,148,323 | |||
Hong Kong 1.0% | 3,101,073 | ||||
Guangdong Investment, Ltd. | 1,492,000 | 3,101,073 | |||
Ireland 4.0% | 12,482,748 | ||||
Allegion PLC | 61,850 | 6,218,399 | |||
Kingspan Group PLC | 122,937 | 6,264,349 | |||
Japan 4.0% | 12,405,390 | ||||
Daikin Industries, Ltd. | 64,300 | 8,251,682 | |||
Horiba, Ltd. | 78,500 | 4,153,708 | |||
Netherlands 1.4% | 4,450,580 | ||||
NXP Semiconductors NV | 44,698 | 4,450,580 | |||
Singapore 1.3% | 4,200,072 | ||||
Oversea-Chinese Banking Corp., Ltd. | 658,286 | 4,200,072 | |||
South Korea 1.5% | 4,766,677 | ||||
Coway Company, Ltd. | 94,051 | 4,766,677 | |||
Sweden 1.3% | 4,086,073 | ||||
Hexagon AB, B Shares (A) | 83,267 | 4,086,073 | |||
Switzerland 5.4% | 16,906,531 | ||||
Roche Holding AG | 33,957 | 11,759,220 | |||
Sonova Holding AG | 28,499 | 5,147,311 | |||
United Kingdom 4.0% | 12,382,683 | ||||
Bunzl PLC | 212,425 | 4,610,610 | |||
Mondi PLC | 248,891 | 4,395,222 | |||
Severn Trent PLC | 112,534 | 3,376,851 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK GLOBAL THEMATIC OPPORTUNITIES FUND | 9 |
Shares | Value | ||||
United States 57.0% | $177,935,386 | ||||
American Water Works Company, Inc. | 26,593 | 3,236,102 | |||
AMETEK, Inc. | 40,688 | 3,412,503 | |||
AO Smith Corp. | 18,053 | 765,086 | |||
Applied Materials, Inc. | 95,411 | 4,740,018 | |||
Boston Scientific Corp. (A) | 228,443 | 8,562,044 | |||
Cisco Systems, Inc. | 207,725 | 8,803,386 | |||
Comcast Corp., Class A | 166,066 | 6,249,064 | |||
Danaher Corp. | 29,474 | 4,817,820 | |||
Edwards Lifesciences Corp. (A) | 23,772 | 5,170,410 | |||
Essential Utilities, Inc. | 74,780 | 3,125,056 | |||
Fidelity National Financial, Inc. | 331,930 | 8,978,707 | |||
Fidelity National Information Services, Inc. | 75,473 | 9,954,134 | |||
Global Payments, Inc. | 39,852 | 6,616,229 | |||
Halozyme Therapeutics, Inc. (A) | 83,392 | 1,889,246 | |||
Incyte Corp. (A) | 34,136 | 3,333,722 | |||
Intuitive Surgical, Inc. (A) | 6,444 | 3,292,111 | |||
KLA Corp. | 29,651 | 4,865,433 | |||
MAXIMUS, Inc. | 116,869 | 7,867,621 | |||
Microsoft Corp. | 17,421 | 3,122,017 | |||
MSA Safety, Inc. | 7,527 | 847,013 | |||
Neurocrine Biosciences, Inc. (A) | 15,004 | 1,472,493 | |||
NextEra Energy, Inc. | 9,626 | 2,224,761 | |||
PayPal Holdings, Inc. (A) | 40,508 | 4,982,484 | |||
Sarepta Therapeutics, Inc. (A) | 12,865 | 1,516,526 | |||
Stanley Black & Decker, Inc. | 35,544 | 3,916,949 | |||
Synopsys, Inc. (A) | 53,682 | 8,434,516 | |||
The Middleby Corp. (A) | 31,401 | 1,746,838 | |||
The Toro Company | 123,016 | 7,849,651 | |||
Thermo Fisher Scientific, Inc. | 29,828 | 9,982,835 | |||
UnitedHealth Group, Inc. | 37,760 | 11,043,667 | |||
Vertex Pharmaceuticals, Inc. (A) | 12,673 | 3,183,458 | |||
Visa, Inc., Class A | 56,435 | 10,086,063 | |||
Xylem, Inc. | 90,295 | 6,492,211 | |||
Zebra Technologies Corp., Class A (A) | 23,318 | 5,355,212 | |||
Preferred securities 2.4% | $7,472,417 | ||||
(Cost $6,932,417) | |||||
South Korea 2.4% | 7,472,417 | ||||
Samsung Electronics Company, Ltd. | 215,557 | 7,472,417 |
Total investments (Cost $288,587,100) 97.7% | $305,123,683 | ||||
Other assets and liabilities, net 2.3% | 7,155,512 | ||||
Total net assets 100.0% | $312,279,195 |
10 | JOHN HANCOCK GLOBAL THEMATIC OPPORTUNITIES FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
Security Abbreviations and Legend | |
ADR | American Depositary Receipt |
(A) | Non-income producing security. |
(B) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK GLOBAL THEMATIC OPPORTUNITIES FUND | 11 |
Financial statements |
Assets | |
Unaffiliated investments, at value (Cost $288,587,100) | $305,123,683 |
Cash | 7,705,130 |
Dividends and interest receivable | 275,190 |
Receivable for fund shares sold | 5,740 |
Receivable for investments sold | 2,475,646 |
Receivable from affiliates | 868 |
Other assets | 74,650 |
Total assets | 315,660,907 |
Liabilities | |
Payable for investments purchased | 3,151,061 |
Payable for fund shares repurchased | 104,780 |
Payable to affiliates | |
Accounting and legal services fees | 14,199 |
Transfer agent fees | 89 |
Trustees' fees | 781 |
Other liabilities and accrued expenses | 110,802 |
Total liabilities | 3,381,712 |
Net assets | $312,279,195 |
Net assets consist of | |
Paid-in capital | $293,739,458 |
Total distributable earnings (loss) | 18,539,737 |
Net assets | $312,279,195 |
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 ($653,927 ÷ 61,044 shares)1 | $10.71 |
Class C ($176,802 ÷ 16,603 shares)1 | $10.65 |
Class I ($68,371 ÷ 6,375 shares) | $10.72 |
Class R6 ($74,103 ÷ 6,908 shares) | $10.73 |
Class NAV ($311,305,992 ÷ 29,009,914 shares) | $10.73 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $11.27 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
12 | JOHN HANCOCK Global Thematic Opportunities Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Investment income | |
Dividends | $2,377,978 |
Interest | 28,879 |
Securities lending | 19,187 |
Less foreign taxes withheld | (147,791) |
Total investment income | 2,278,253 |
Expenses | |
Investment management fees | 1,421,537 |
Distribution and service fees | 1,357 |
Accounting and legal services fees | 30,549 |
Transfer agent fees | 489 |
Trustees' fees | 3,366 |
Custodian fees | 59,984 |
State registration fees | 39,064 |
Printing and postage | 26,064 |
Professional fees | 42,557 |
Other | 5,117 |
Total expenses | 1,630,084 |
Less expense reductions | (190,771) |
Net expenses | 1,439,313 |
Net investment income | 838,940 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | 2,195,487 |
Affiliated investments | 888 |
2,196,375 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | (27,307,189) |
Affiliated investments | (376) |
(27,307,565) | |
Net realized and unrealized loss | (25,111,190) |
Decrease in net assets from operations | $(24,272,250) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Global Thematic Opportunities Fund | 13 |
Six months ended 4-30-20 (unaudited) | Period ended 10-31-191 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $838,940 | $2,455,246 |
Net realized gain | 2,196,375 | 11,109,282 |
Change in net unrealized appreciation (depreciation) | (27,307,565) | 43,847,618 |
Increase (decrease) in net assets resulting from operations | (24,272,250) | 57,412,146 |
Distributions to shareholders | ||
From earnings | ||
Class A | (16,263) | — |
Class C | (2,882) | — |
Class I | (3,102) | — |
Class R6 | (2,907) | — |
Class NAV | (14,600,822) | — |
Total distributions | (14,625,976) | — |
From fund share transactions | (11,648,584) | 305,413,859 |
Total increase (decrease) | (50,546,810) | 362,826,005 |
Net assets | ||
Beginning of period | 362,826,005 | — |
End of period | $312,279,195 | $362,826,005 |
1 | Period from 12-14-18 (commencement of operations) to 10-31-19. |
14 | JOHN HANCOCK Global Thematic Opportunities Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Financial highlights |
CLASS A SHARES Period ended | 4-30-201 | 10-31-192 |
Per share operating performance | ||
Net asset value, beginning of period | $12.04 | $10.00 |
Net investment income3 | 0.01 | 0.04 |
Net realized and unrealized gain (loss) on investments | (0.88) | 2.00 |
Total from investment operations | (0.87) | 2.04 |
Less distributions | ||
From net investment income | (0.06) | — |
From net realized gain | (0.40) | — |
Total distributions | (0.46) | — |
Net asset value, end of period | $10.71 | $12.04 |
Total return (%)4,5 | (7.65)6 | 20.406 |
Ratios and supplemental data | ||
Net assets, end of period (in millions) | $1 | $1 |
Ratios (as a percentage of average net assets): | ||
Expenses before reductions | 1.337 | 1.377 |
Expenses including reductions | 1.197 | 1.197 |
Net investment income | 0.167 | 0.397 |
Portfolio turnover (%) | 33 | 59 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 12-14-18 (commencement of operations) to 10-31-19. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the period. |
5 | Does not reflect the effect of sales charges, if any. |
6 | Not annualized. |
7 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Global Thematic Opportunities Fund | 15 |
CLASS C SHARES Period ended | 4-30-201 | 10-31-192 |
Per share operating performance | ||
Net asset value, beginning of period | $11.96 | $10.00 |
Net investment loss3 | (0.03) | (0.03) |
Net realized and unrealized gain (loss) on investments | (0.88) | 1.99 |
Total from investment operations | (0.91) | 1.96 |
Less distributions | ||
From net realized gain | (0.40) | — |
Net asset value, end of period | $10.65 | $11.96 |
Total return (%)4,5 | (7.97)6 | 19.606 |
Ratios and supplemental data | ||
Net assets, end of period (in millions) | $—7 | $—7 |
Ratios (as a percentage of average net assets): | ||
Expenses before reductions | 2.088 | 2.128 |
Expenses including reductions | 1.938 | 1.948 |
Net investment loss | (0.60)8 | (0.30)8 |
Portfolio turnover (%) | 33 | 59 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 12-14-18 (commencement of operations) to 10-31-19. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the period. |
5 | Does not reflect the effect of sales charges, if any. |
6 | Not annualized. |
7 | Less than $500,000. |
8 | Annualized. |
16 | JOHN HANCOCK Global Thematic Opportunities Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS I SHARES Period ended | 4-30-201 | 10-31-192 |
Per share operating performance | ||
Net asset value, beginning of period | $12.07 | $10.00 |
Net investment income3 | 0.02 | 0.07 |
Net realized and unrealized gain (loss) on investments | (0.88) | 2.00 |
Total from investment operations | (0.86) | 2.07 |
Less distributions | ||
From net investment income | (0.09) | — |
From net realized gain | (0.40) | — |
Total distributions | (0.49) | — |
Net asset value, end of period | $10.72 | $12.07 |
Total return (%)4 | (7.59)5 | 20.705 |
Ratios and supplemental data | ||
Net assets, end of period (in millions) | $—6 | $—6 |
Ratios (as a percentage of average net assets): | ||
Expenses before reductions | 1.087 | 1.127 |
Expenses including reductions | 0.947 | 0.947 |
Net investment income | 0.397 | 0.737 |
Portfolio turnover (%) | 33 | 59 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 12-14-18 (commencement of operations) to 10-31-19. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the period. |
5 | Not annualized. |
6 | Less than $500,000. |
7 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Global Thematic Opportunities Fund | 17 |
CLASS R6 SHARES Period ended | 4-30-201 | 10-31-192 |
Per share operating performance | ||
Net asset value, beginning of period | $12.07 | $10.00 |
Net investment income3 | 0.03 | 0.08 |
Net realized and unrealized gain (loss) on investments | (0.87) | 1.99 |
Total from investment operations | (0.84) | 2.07 |
Less distributions | ||
From net investment income | (0.10) | — |
From net realized gain | (0.40) | — |
Total distributions | (0.50) | — |
Net asset value, end of period | $10.73 | $12.07 |
Total return (%)4 | (7.43)5 | 20.705 |
Ratios and supplemental data | ||
Net assets, end of period (in millions) | $—6 | $—6 |
Ratios (as a percentage of average net assets): | ||
Expenses before reductions | 0.977 | 1.017 |
Expenses including reductions | 0.857 | 0.857 |
Net investment income | 0.497 | 0.827 |
Portfolio turnover (%) | 33 | 59 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 12-14-18 (commencement of operations) to 10-31-19. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the period. |
5 | Not annualized. |
6 | Less than $500,000. |
7 | Annualized. |
18 | JOHN HANCOCK Global Thematic Opportunities Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS NAV SHARES Period ended | 4-30-201 | 10-31-192 |
Per share operating performance | ||
Net asset value, beginning of period | $12.08 | $10.00 |
Net investment income3 | 0.03 | 0.09 |
Net realized and unrealized gain (loss) on investments | (0.88) | 1.99 |
Total from investment operations | (0.85) | 2.08 |
Less distributions | ||
From net investment income | (0.10) | — |
From net realized gain | (0.40) | — |
Total distributions | (0.50) | — |
Net asset value, end of period | $10.73 | $12.08 |
Total return (%)4 | (7.50)5 | 20.805 |
Ratios and supplemental data | ||
Net assets, end of period (in millions) | $311 | $362 |
Ratios (as a percentage of average net assets): | ||
Expenses before reductions | 0.956 | 1.006 |
Expenses including reductions | 0.846 | 0.846 |
Net investment income | 0.496 | 0.886 |
Portfolio turnover (%) | 33 | 59 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 12-14-18 (commencement of operations) to 10-31-19. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the period. |
5 | Not annualized. |
6 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK Global Thematic Opportunities Fund | 19 |
Notes to financial statements (unaudited) |
20 | JOHN HANCOCK Global Thematic Opportunities Fund | SEMIANNUAL REPORT |
Total value at 4-30-20 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
China | $15,011,842 | $9,386,912 | $5,624,930 | — |
France | 20,311,734 | — | 20,311,734 | — |
Germany | 9,610,477 | — | 9,610,477 | — |
Hong Kong | 3,101,073 | — | 3,101,073 | — |
Ireland | 12,482,748 | 6,218,399 | 6,264,349 | — |
Japan | 12,405,390 | — | 12,405,390 | — |
Netherlands | 4,450,580 | 4,450,580 | — | — |
Singapore | 4,200,072 | — | 4,200,072 | — |
South Korea | 4,766,677 | — | 4,766,677 | — |
Sweden | 4,086,073 | — | 4,086,073 | — |
Switzerland | 16,906,531 | — | 16,906,531 | — |
United Kingdom | 12,382,683 | — | 12,382,683 | — |
United States | 177,935,386 | 177,935,386 | — | — |
Preferred securities | 7,472,417 | — | 7,472,417 | — |
Total investments in securities | $305,123,683 | $197,991,277 | $107,132,406 | — |
SEMIANNUAL REPORT | JOHN HANCOCK Global Thematic Opportunities Fund | 21 |
22 | JOHN HANCOCK Global Thematic Opportunities Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK Global Thematic Opportunities Fund | 23 |
Class | Expense reduction |
Class A | $394 |
Class C | 93 |
Class I | 50 |
Class | Expense reduction |
Class R6 | $40 |
Class NAV | 190,194 |
Total | $190,771 |
24 | JOHN HANCOCK Global Thematic Opportunities Fund | SEMIANNUAL REPORT |
Class | Rule 12b-1 Fee |
Class A | 0.25% |
Class C | 1.00% |
Class | Distribution and service fees | Transfer agent fees |
Class A | $708 | $356 |
Class C | 649 | 81 |
Class I | — | 47 |
Class R6 | — | 5 |
Total | $1,357 | $489 |
SEMIANNUAL REPORT | JOHN HANCOCK Global Thematic Opportunities Fund | 25 |
Six Months Ended 4-30-20 | Period ended 10-31-191 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 31,798 | $387,244 | 50,145 | $554,355 |
Distributions reinvested | 1,343 | 16,263 | — | — |
Repurchased | (16,479) | (185,995) | (5,763) | (68,429) |
Net increase | 16,662 | $217,512 | 44,382 | $485,926 |
Class C shares | ||||
Sold | 19,773 | $230,760 | 7,126 | $74,934 |
Distributions reinvested | 71 | 860 | — | — |
Repurchased | (10,367) | (106,755) | — | — |
Net increase | 9,477 | $124,865 | 7,126 | $74,934 |
Class I shares | ||||
Sold | — | — | 6,322 | $65,000 |
Distributions reinvested | 53 | $649 | — | — |
Net increase | 53 | $649 | 6,322 | $65,000 |
Class R6 shares | ||||
Sold | 1,112 | $13,000 | 5,763 | $58,500 |
Distributions reinvested | 33 | 402 | — | — |
Net increase | 1,145 | $13,402 | 5,763 | $58,500 |
Class NAV shares | ||||
Sold | 153,610 | $1,444,984 | 34,475,132 | $356,592,069 |
Distributions reinvested | 1,204,689 | 14,600,823 | — | — |
Repurchased | (2,321,194) | (28,050,819) | (4,502,323) | (51,862,570) |
Net increase (decrease) | (962,895) | $(12,005,012) | 29,972,809 | $304,729,499 |
Total net increase (decrease) | (935,558) | $(11,648,584) | 30,036,402 | $305,413,859 |
1 | Period from 12-14-18 (commencement of operations) to 10-31-19. |
26 | JOHN HANCOCK Global Thematic Opportunities Fund | SEMIANNUAL REPORT |
Portfolio | Affiliated Concentration |
John Hancock Funds II Multimanager Lifestyle Growth Portfolio | 50.1% |
John Hancock Funds II Multimanager Lifestyle Balanced Portfolio | 27.6% |
John Hancock Funds II Multimanager Lifestyle Aggressive Portfolio | 22.0% |
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* | — | $9,563,965 | $12,676,165 | $(22,240,642) | $888 | $(376) | $19,187 | — | — |
* | Refer to the Securities lending note within Note 2 for details regarding this investment. |
SEMIANNUAL REPORT | JOHN HANCOCK Global Thematic Opportunities Fund | 27 |
STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT
Operation of the Liquidity Risk Management Program
This section describes operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock Global Thematic Opportunities Fund, subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Fund's subadvisor, Pictet Asset Management SA (the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.
The Committee holds monthly meetings to: (1) review the day-to-day operations of the LRMP; (2) review and approve month end liquidity classifications; (3) review quarterly testing and determinations, as applicable; and (4) review other LRMP related material. The Committee also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Committee may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity and valuation issues.
The Committee provided the Board at a meeting held on March 15-17, 2020 with a written report which addressed the Committee's assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period December 1, 2018 through December 31, 2019, included an assessment of important aspects of the LRMP including, but not limited to:
• Operation of the Fund's Redemption-In-Kind Procedures;
• Highly Liquid Investment Minimum (HLIM) determination;
• Compliance with the 15% limit on illiquid investments;
• Reasonably Anticipated Trade Size (RATS) determination;
• Security-level liquidity classifications; and
• Liquidity risk assessment.
The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee's actions to address such matters.
Redemption-In-Kind Procedures
Rule 22e-4 requires any fund that engages in or reserves the right to engage in in-kind redemptions to adopt and implement written policies and procedures regarding in-kind redemptions as part of the management of its liquidity risk. These procedures address the process for redeeming in kind, as well as the circumstances under which the Fund would consider redeeming in kind. Anticipated large redemption activity will be evaluated to identify situations where redeeming in securities instead of cash may be appropriate.
As part of its annual assessment of the LRMP, the Committee reviewed the implementation and operation of the Redemption-In-Kind Procedures and determined they are operating in a manner that such procedures are adequate and effective to manage in-kind redemptions on behalf of the Fund as part of the LRMP.
Highly Liquid Investment Minimum determination
The Committee uses an HLIM model to determine a Fund's HLIM. This process incorporates the Fund's investment strategy, historical redemptions, liquidity classification rollup percentages and cash balances, redemption policy, access to funding sources, distribution channels and client concentrations. If the Fund falls below its established HLIM for a period greater than 7 consecutive calendar days, the Committee prepares a report to the Board within one business day following the seventh consecutive calendar day with an explanation of how the Fund plans to restore its HLIM within a reasonable period of time.
Based on the HLIM model, the Committee has determined that the Fund qualifies as a Primarily Highly Liquid Fund (PHLF). It is therefore not required to establish a HLIM. The Fund is tested quarterly to confirm its PHLF status.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to HLIM and PHLF determinations, and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Compliance with the 15% limit on illiquid investments
Rule 22e-4 sets an aggregate illiquid investment limit of 15% for a fund. Funds are prohibited from acquiring an illiquid investment if this results in greater than 15% of its net assets being classified as illiquid. When applying this limit, the Committee defines "illiquid investment" to mean any investment that the Fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. If a 15% illiquid investment limit breach occurs for longer than 1 business day, the Fund is required to notify the Board and provide a plan on how to bring illiquid investments within the 15% threshold, and after 7 days confidentially notify the Securities and Exchange Commission (the SEC).
In February 2019, as a result of extended security markets closures in connection with the Chinese New Year in certain countries, the SEC released guidance, and the Committee approved and adopted an Extended Market Holiday Policy to plan for and monitor known Extended Market Holidays (defined as all expected market holiday closures spanning four or more calendar days).
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to the 15% illiquid investment limit and determined such policies and procedures are operating in a manner that is adequate and effective as part of the LMRP.
Reasonably Anticipated Trade Size determination
In order to assess the liquidity risk of a Fund, the Committee considers the impact on the Fund that redemptions of a RATS would have under both normal and reasonably foreseeable stressed conditions. Modelling the Fund's RATS requires quantifying cash flow volatility and analyzing distribution channel concentration and redemption risk. The model is designed to estimate the amount of assets that the Fund could reasonably anticipate trading on a given day, during both normal and reasonably foreseeable stressed conditions, to satisfy redemption requests.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to RATS determinations and determined that such policies and procedures are operating in a manner that is adequate and effective at making RATS determinations as part of the LRMP.
Security-level liquidity classifications
When classifying the liquidity of portfolio securities, the Fund adheres to the liquidity classification procedures established by the Advisor. In assigning a liquidity classification to Fund portfolio holdings, the following key inputs, among others, are considered: the Fund's RATS, feedback from the applicable Subadvisor on market-, trading- and investment-specific considerations, an assessment of current market conditions and fund portfolio holdings, and a value impact standard. The Subadvisor also provides position-level data to the Committee for use in monthly classification reconciliation in order to identify any classifications that may need to be changed as a result of the above considerations.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to security-level liquidity classifications and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Liquidity risk assessment
The Committee periodically reviews and assesses, the Fund's liquidity risk, including its investment strategy and liquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions (including whether the investment strategy is appropriate for an open-end fund, the extent to which the strategy involves a relatively concentrated portfolio or large positions in particular issuers, and the use of borrowings for investment purposes and derivatives), cash flow analysis during both normal and reasonably foreseeable stressed conditions, and holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.
The Committee also monitors global events, such as the COVID-19 Coronavirus, that could impact the markets and liquidity of portfolio investments and their classifications.
As part of its annual assessment of the LRMP, the Committee reviewed Fund-Level Liquidity Risk Assessment Reports for each of the Funds and determined that the investment strategy for each Fund continues to be appropriate for an open-ended structure.
Adequacy and Effectiveness
Based on the review and assessment conducted by the Committee, the Committee has determined that the LRMP has been implemented, and is operating in a manner that is adequate and effective at assessing and managing the liquidity risk of each Fund.
Trustees Hassell H. McClellan,Chairperson Officers Andrew G. Arnott Francis V. Knox, Jr. Charles A. Rizzo Salvatore Schiavone Christopher (Kit) Sechler | Investment advisor John Hancock Investment Management LLC Subadvisor Pictet Asset Management SA Portfolio Managers Hans Peter Portner, CFA Principal distributor John Hancock Investment Management Distributors LLC Custodian Citibank, N.A. Transfer agent John Hancock Signature Services, Inc. Legal counsel K&L Gates LLP |
* Member of the Audit Committee
† Non-Independent Trustee
The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund's holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund's Form N-PORT filings are available on our website and the SEC's website, sec.gov.
We make this information on your fund, as well asmonthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
You can also contact us: | |||
800-225-5291 jhinvestments.com | Regular mail: John Hancock Signature Services, Inc. | Express mail: John Hancock Signature Services, Inc. |
John Hancock family of funds
DOMESTIC EQUITY FUNDS Blue Chip Growth Classic Value Disciplined Value Disciplined Value Mid Cap Equity Income Financial Industries Fundamental All Cap Core Fundamental Large Cap Core New Opportunities Regional Bank Small Cap Core Small Cap Growth Small Cap Value U.S. Global Leaders Growth U.S. Quality Growth GLOBAL AND INTERNATIONAL EQUITY FUNDS Disciplined Value International Emerging Markets Emerging Markets Equity Fundamental Global Franchise Global Equity Global Shareholder Yield Global Thematic Opportunities International Dynamic Growth International Growth International Small Company | INCOME FUNDS Bond California Tax-Free Income Emerging Markets Debt Floating Rate Income Government Income High Yield High Yield Municipal Bond Income Investment Grade Bond Money Market Short Duration Bond Short Duration Credit Opportunities Strategic Income Opportunities Tax-Free Bond ALTERNATIVE AND SPECIALTY FUNDS Absolute Return Currency Alternative Asset Allocation Alternative Risk Premia Diversified Macro Infrastructure Multi-Asset Absolute Return Seaport Long/Short |
A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
ASSET ALLOCATION Balanced Multi-Asset High Income Multi-Index Lifetime Portfolios Multi-Index Preservation Portfolios Multimanager Lifestyle Portfolios Multimanager Lifetime Portfolios Retirement Income 2040 EXCHANGE-TRADED FUNDS John Hancock Multifactor Consumer Discretionary ETF John Hancock Multifactor Consumer Staples ETF John Hancock Multifactor Developed International ETF John Hancock Multifactor Emerging Markets ETF John Hancock Multifactor Energy ETF John Hancock Multifactor Financials ETF John Hancock Multifactor Healthcare ETF John Hancock Multifactor Industrials ETF John Hancock Multifactor Large Cap ETF John Hancock Multifactor Materials ETF John Hancock Multifactor Media and John Hancock Multifactor Mid Cap ETF John Hancock Multifactor Small Cap ETF John Hancock Multifactor Technology ETF John Hancock Multifactor Utilities ETF | ENVIRONMENTAL, SOCIAL, AND ESG All Cap Core ESG Core Bond ESG International Equity ESG Large Cap Core CLOSED-END FUNDS Financial Opportunities Hedged Equity & Income Income Securities Trust Investors Trust Preferred Income Preferred Income II Preferred Income III Premium Dividend Tax-Advantaged Dividend Income Tax-Advantaged Global Shareholder Yield |
John Hancock Multifactor ETF shares are bought and sold at market price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Investment Management Distributors LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock Multifactor ETFs.
John Hancock Investment Management
A trusted brand
John Hancock Investment Management is a premier asset manager
representing one of America's most trusted brands, with a heritage of
financial stewardship dating back to 1862. Helping our shareholders
pursue their financial goals is at the core of everything we do. It's why
we support the role of professional financial advice and operate with
the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world's best
managers, along with strong risk-adjusted returns across asset classes.
John Hancock Investment Management Distributors LLC n Member FINRA, SIPC
200 Berkeley Street n Boston, MA 02116-5010 n 800-225-5291 n jhinvestments.com
This report is for the information of the shareholders of John Hancock Global Thematic Opportunities Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF1182614 | 471SA 4/20 6/2020 |
John Hancock
ESG All Cap Core Fund
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the fund's shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change, and you do not need to take any action. You may elect to receive shareholder reports and other communications electronically by calling John Hancock Investment Management at 800-225-5291 (Class A and Class C shares) or 888-972-8696 (Class I and Class R6 shares) or by contacting your financial intermediary.
You may elect to receive all reports in paper, free of charge, at any time. You can inform John Hancock Investment Management or your financial intermediary that you wish to continue receiving paper copies of your shareholder reports by following the instructions listed above. Your election to receive reports in paper will apply to all funds held with John Hancock Investment Management or your financial intermediary.
A message to shareholders
Dear shareholder,
The U.S. financial markets were on pace to deliver strong returns during the 6 months ended April 30, 2020, until heightened fears over the coronavirus (COVID-19) sent markets tumbling during the latter half of February and early March.
In response to the sell-off, the U.S. Federal Reserve acted quickly with a broad array of actions to limit the economic damage from the pandemic, including up to $2.3 trillion in lending to support households, employers, financial markets, and state and local governments. These steps, along with the passage of an estimated $2 trillion federal economic stimulus bill, helped lift the markets during the final month of the period.
The continued spread of COVID-19, trade disputes, rising unemployment, and other geopolitical tensions may continue to create uncertainty among businesses and investors. Your financial professional can helpposition your portfolio so that it's sufficiently diversified to seek to meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I'd like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you've placed in us.
Sincerely,
Andrew G. Arnott
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO's views as of this report's period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
ESG All Cap Core Fund
INVESTMENT OBJECTIVE
The fund seeks long-term capital appreciation.
AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2020 (%)
The S&P Composite 1500 Index combines three indexes, the S&P 500, the S&P MidCap 400, and the S&P SmallCap 600 to cover approximately 90% of the U.S. market capitalization.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower. Since inception returns for the Morningstar fund category average are not available.
On January 30, 2020, it was announced that the fund's subadvisor, Trillium Asset Management, LLC, was being purchased by Perpetual Limited. The change in control is expected to take place on or about June 30, 2020. It is expected to have no effect on the objectives of the fund or on the personnel who manage it.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus. The fund recently experienced negative short-term performance due to market volatility associated with the COVID-19 pandemic.
SECTOR COMPOSITION AS OF 4/30/2020 (%)
TOP 10 HOLDINGS AS OF 4/30/2020 (%)
Microsoft Corp. | 5.0 |
Alphabet, Inc., Class A | 4.5 |
SBA Communications Corp. | 2.6 |
PayPal Holdings, Inc. | 2.6 |
Mastercard, Inc., Class A | 2.3 |
Apple, Inc. | 2.2 |
The Travelers Companies, Inc. | 1.9 |
Adobe, Inc. | 1.9 |
Merck & Company, Inc. | 1.9 |
Bank of America Corp. | 1.9 |
TOTAL | 26.8 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
A note about risks
The fund may be subject to various risks as described in the fund's prospectus. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange trading suspensions and closures, impact the ability to complete redemptions, and affect fund performance. For example, the novel coronavirus disease (COVID-19) has resulted in significant disruptions to global business activity. The impact of a health crisis and other epidemics and pandemics that may arise in the future, could affect the global economy in ways that cannot necessarily be foreseen at the present time. A health crisis may exacerbate other pre-existing political, social, and economic risks. Any such impact could adversely affect the funds' performance, resulting in losses to your investment. For more information, please refer to the "Principal risks" section of the prospectus.
TOTAL RETURNS FOR THE PERIOD ENDED APRIL 30, 2020
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | ||||||
1-year | Since inception1 | 6-month | Since inception1 | ||||
Class A | -7.98 | 7.02 | -11.20 | 30.31 | |||
Class C | -4.82 | 7.63 | -7.81 | 33.22 | |||
Class I2 | -2.95 | 8.70 | -6.37 | 38.49 | |||
Class R62 | -2.78 | 8.84 | -6.27 | 39.15 | |||
Index† | -0.73 | 10.32 | -4.34 | 46.71 |
Performance figures assume all distributions have been reinvested. Figures reflect maximum sales charges on Class A shares of 5%, and the applicable contingent deferred sales charge (CDSC) on Class C shares. Class C shares sold within one year of purchase are subject to a 1% CDSC. Sales charges are not applicable to Class I or Class R6 shares.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractualexpense limitations in effect until February 28, 2021 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Class A | Class C | Class I | Class R6 | |
Gross (%) | 1.80 | 2.55 | 1.55 | 1.44 |
Net (%) | 1.18 | 1.93 | 0.93 | 0.82 |
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.
The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.
The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.
† | Index is the S&P Composite 1500 Index. |
See the following page for footnotes.
This chart and table show what happened to a hypothetical $10,000 investment in John Hancock ESG All Cap Core Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in the S&P Composite 1500 Index.
Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class C3 | 6-6-16 | 13,322 | 13,322 | 14,671 |
Class I2 | 6-6-16 | 13,849 | 13,849 | 14,671 |
Class R62 | 6-6-16 | 13,915 | 13,915 | 14,671 |
The S&P Composite 1500 Index combines three indexes, the S&P 500, the S&P MidCap 400, and the S&P SmallCap 600 to cover approximately 90% of the U.S. market capitalization.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Footnotes related to performance pages
1 | From 6-6-16. |
2 | For certain types of investors as described in the fund's prospectus. |
3 | The contingent deferred sales charge is not applicable. |
Your expenses |
SEMIANNUAL REPORT | JOHN HANCOCK ESG ALL CAP CORE FUND | 6 |
Account value on 11-1-2019 | Ending value on 4-30-2020 | Expenses paid during period ended 4-30-20201 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $935.00 | $5.73 | 1.19% |
Hypothetical example | 1,000.00 | 1,018.90 | 5.97 | 1.19% | |
Class C | Actual expenses/actual returns | 1,000.00 | 931.20 | 9.32 | 1.94% |
Hypothetical example | 1,000.00 | 1,015.20 | 9.72 | 1.94% | |
Class I | Actual expenses/actual returns | 1,000.00 | 936.30 | 4.53 | 0.94% |
Hypothetical example | 1,000.00 | 1,020.20 | 4.72 | 0.94% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 937.30 | 3.95 | 0.82% |
Hypothetical example | 1,000.00 | 1,020.80 | 4.12 | 0.82% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period). |
7 | JOHN HANCOCK ESG ALL CAP CORE FUND | SEMIANNUAL REPORT |
Fund’s investments |
Shares | Value | ||||
Common stocks 98.8% | $24,356,577 | ||||
(Cost $19,670,969) | |||||
Communication services 8.5% | 2,083,811 | ||||
Diversified telecommunication services 1.5% | |||||
Verizon Communications, Inc. | 6,173 | 354,639 | |||
Interactive media and services 4.5% | |||||
Alphabet, Inc., Class A (A) | 826 | 1,112,374 | |||
Media 2.5% | |||||
Omnicom Group, Inc. | 4,528 | 258,232 | |||
The New York Times Company, Class A | 11,026 | 358,566 | |||
Consumer discretionary 10.3% | 2,549,058 | ||||
Auto components 0.8% | |||||
BorgWarner, Inc. | 7,269 | 207,675 | |||
Hotels, restaurants and leisure 1.1% | |||||
Starbucks Corp. | 3,416 | 262,110 | |||
Internet and direct marketing retail 0.8% | |||||
Booking Holdings, Inc. (A) | 127 | 188,032 | |||
Multiline retail 1.4% | |||||
Target Corp. | 3,146 | 345,242 | |||
Specialty retail 3.7% | |||||
The Home Depot, Inc. | 1,319 | 289,956 | |||
The TJX Companies, Inc. | 7,118 | 349,138 | |||
Tractor Supply Company | 2,765 | 280,454 | |||
Textiles, apparel and luxury goods 2.5% | |||||
Lululemon Athletica, Inc. (A) | 1,517 | 339,019 | |||
NIKE, Inc., Class B | 3,297 | 287,432 | |||
Consumer staples 6.0% | 1,472,297 | ||||
Food and staples retailing 1.5% | |||||
Costco Wholesale Corp. | 1,207 | 365,721 | |||
Food products 2.2% | |||||
Lamb Weston Holdings, Inc. | 3,408 | 209,115 | |||
McCormick & Company, Inc. | 2,042 | 320,267 | |||
Household products 1.1% | |||||
The Procter & Gamble Company | 2,359 | 278,055 | |||
Personal products 1.2% | |||||
Unilever NV, NYRS | 6,053 | 299,139 | |||
Energy 1.2% | 304,371 | ||||
Oil, gas and consumable fuels 1.2% | |||||
EOG Resources, Inc. | 3,424 | 162,674 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ESG ALL CAP CORE FUND | 8 |
Shares | Value | ||||
Energy (continued) | |||||
Oil, gas and consumable fuels (continued) | |||||
Marathon Petroleum Corp. | 4,417 | $141,697 | |||
Financials 11.1% | 2,745,998 | ||||
Banks 6.3% | |||||
Bank of America Corp. | 19,376 | 465,993 | |||
East West Bancorp, Inc. | 5,640 | 197,795 | |||
First Republic Bank | 2,892 | 301,607 | |||
SVB Financial Group (A) | 1,446 | 279,324 | |||
The PNC Financial Services Group, Inc. | 2,892 | 308,490 | |||
Capital markets 0.9% | |||||
The Bank of New York Mellon Corp. | 5,974 | 224,264 | |||
Insurance 3.9% | |||||
Aflac, Inc. | 8,937 | 332,814 | |||
Reinsurance Group of America, Inc. | 1,549 | 162,149 | |||
The Travelers Companies, Inc. | 4,679 | 473,562 | |||
Health care 15.4% | 3,798,669 | ||||
Biotechnology 1.3% | |||||
Gilead Sciences, Inc. | 3,726 | 312,984 | |||
Health care equipment and supplies 2.4% | |||||
Becton, Dickinson and Company | 1,065 | 268,944 | |||
Medtronic PLC | 3,440 | 335,847 | |||
Health care providers and services 4.8% | |||||
Cigna Corp. | 2,137 | 418,382 | |||
CVS Health Corp. | 2,447 | 150,613 | |||
LHC Group, Inc. (A) | 1,803 | 234,372 | |||
Quest Diagnostics, Inc. | 3,511 | 386,596 | |||
Health care technology 1.1% | |||||
Omnicell, Inc. (A) | 3,646 | 265,793 | |||
Life sciences tools and services 2.6% | |||||
Illumina, Inc. (A) | 763 | 243,420 | |||
IQVIA Holdings, Inc. (A) | 2,812 | 400,963 | |||
Pharmaceuticals 3.2% | |||||
AstraZeneca PLC, ADR | 6,000 | 313,680 | |||
Merck & Company, Inc. | 5,887 | 467,075 | |||
Industrials 8.0% | 1,976,235 | ||||
Aerospace and defense 0.5% | |||||
Hexcel Corp. | 3,813 | 131,892 | |||
Building products 0.9% | |||||
Trane Technologies PLC | 2,614 | 228,516 |
9 | JOHN HANCOCK ESG ALL CAP CORE FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Industrials (continued) | |||||
Commercial services and supplies 0.4% | |||||
Interface, Inc. | 10,526 | $97,260 | |||
Construction and engineering 0.8% | |||||
Quanta Services, Inc. | 5,092 | 185,145 | |||
Electrical equipment 1.3% | |||||
Eaton Corp. PLC | 3,797 | 317,050 | |||
Machinery 3.0% | |||||
The Middleby Corp. (A) | 2,121 | 117,991 | |||
Wabtec Corp. | 4,822 | 272,057 | |||
Xylem, Inc. | 4,790 | 344,401 | |||
Road and rail 1.1% | |||||
J.B. Hunt Transport Services, Inc. | 2,788 | 281,923 | |||
Information technology 26.8% | 6,602,378 | ||||
Electronic equipment, instruments and components 2.0% | |||||
IPG Photonics Corp. (A) | 1,660 | 214,688 | |||
Trimble, Inc. (A) | 7,968 | 275,932 | |||
IT services 6.0% | |||||
Accenture PLC, Class A | 1,501 | 277,970 | |||
Mastercard, Inc., Class A | 2,018 | 554,889 | |||
PayPal Holdings, Inc. (A) | 5,156 | 634,188 | |||
Semiconductors and semiconductor equipment 5.3% | |||||
Analog Devices, Inc. | 2,534 | 277,726 | |||
ASML Holding NV, NYRS | 1,207 | 348,135 | |||
First Solar, Inc. (A) | 5,481 | 241,219 | |||
NXP Semiconductors NV | 2,590 | 257,886 | |||
Xilinx, Inc. | 2,026 | 177,072 | |||
Software 11.3% | |||||
Adobe, Inc. (A) | 1,335 | 472,109 | |||
ANSYS, Inc. (A) | 1,335 | 349,543 | |||
Blackbaud, Inc. | 2,963 | 163,735 | |||
Microsoft Corp. | 6,935 | 1,242,823 | |||
Palo Alto Networks, Inc. (A) | 1,406 | 276,293 | |||
salesforce.com, Inc. (A) | 1,803 | 291,996 | |||
Technology hardware, storage and peripherals 2.2% | |||||
Apple, Inc. | 1,859 | 546,174 | |||
Materials 4.5% | 1,111,436 | ||||
Chemicals 4.5% | |||||
Air Products & Chemicals, Inc. | 1,684 | 379,877 | |||
Ecolab, Inc. | 2,081 | 402,674 | |||
International Flavors & Fragrances, Inc. | 2,510 | 328,885 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ESG ALL CAP CORE FUND | 10 |
Shares | Value | ||||
Real estate 4.1% | $1,010,856 | ||||
Equity real estate investment trusts 3.4% | |||||
AvalonBay Communities, Inc. | 1,215 | 197,984 | |||
SBA Communications Corp. | 2,208 | 640,143 | |||
Real estate management and development 0.7% | |||||
Jones Lang LaSalle, Inc. | 1,636 | 172,729 | |||
Utilities 2.9% | 701,468 | ||||
Electric utilities 1.2% | |||||
Avangrid, Inc. | 6,578 | 282,854 | |||
Water utilities 1.7% | |||||
American Water Works Company, Inc. | 3,440 | 418,614 | |||
Yield (%) | Shares | Value | |||
Short-term investments 1.0% | $252,684 | ||||
(Cost $252,684) | |||||
Short-term funds 1.0% | 252,684 | ||||
Federated Government Obligations Fund, Institutional Class | 0.2086(B) | 252,684 | 252,684 |
Total investments (Cost $19,923,653) 99.8% | $24,609,261 | ||||
Other assets and liabilities, net 0.2% | 43,399 | ||||
Total net assets 100.0% | $24,652,660 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
Security Abbreviations and Legend | |
ADR | American Depositary Receipt |
NYRS | New York Registry Shares |
(A) | Non-income producing security. |
(B) | The rate shown is the annualized seven-day yield as of 4-30-20. |
11 | JOHN HANCOCK ESG ALL CAP CORE FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Financial statements |
Assets | |
Unaffiliated investments, at value (Cost $19,923,653) | $24,609,261 |
Dividends and interest receivable | 19,066 |
Receivable for fund shares sold | 6,478 |
Receivable from affiliates | 359 |
Other assets | 58,349 |
Total assets | 24,693,513 |
Liabilities | |
Payable for fund shares repurchased | 320 |
Payable to affiliates | |
Accounting and legal services fees | 1,836 |
Transfer agent fees | 2,399 |
Trustees' fees | 158 |
Other liabilities and accrued expenses | 36,140 |
Total liabilities | 40,853 |
Net assets | $24,652,660 |
Net assets consist of | |
Paid-in capital | $20,269,192 |
Total distributable earnings (loss) | 4,383,468 |
Net assets | $24,652,660 |
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 ($7,179,012 ÷ 565,863 shares)1 | $12.69 |
Class C ($1,778,564 ÷ 142,732 shares)1 | $12.46 |
Class I ($15,209,555 ÷ 1,196,429 shares) | $12.71 |
Class R6 ($485,529 ÷ 38,180 shares) | $12.72 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $13.36 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ESG All Cap Core Fund | 12 |
Investment income | |
Dividends | $196,272 |
Interest | 1,600 |
Less foreign taxes withheld | (249) |
Total investment income | 197,623 |
Expenses | |
Investment management fees | 101,817 |
Distribution and service fees | 18,278 |
Accounting and legal services fees | 2,372 |
Transfer agent fees | 16,260 |
Trustees' fees | 410 |
Custodian fees | 13,678 |
State registration fees | 31,527 |
Printing and postage | 10,403 |
Professional fees | 20,840 |
Other | 7,144 |
Total expenses | 222,729 |
Less expense reductions | (78,229) |
Net expenses | 144,500 |
Net investment income | 53,123 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments | (120,349) |
(120,349) | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments | (1,742,936) |
(1,742,936) | |
Net realized and unrealized loss | (1,863,285) |
Decrease in net assets from operations | $(1,810,162) |
13 | JOHN HANCOCK ESG All Cap Core Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Six months ended 4-30-20 (unaudited) | Year ended 10-31-19 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $53,123 | $112,365 |
Net realized loss | (120,349) | (198,356) |
Change in net unrealized appreciation (depreciation) | (1,742,936) | 3,423,092 |
Increase (decrease) in net assets resulting from operations | (1,810,162) | 3,337,101 |
Distributions to shareholders | ||
From earnings | ||
Class A | (16,512) | (273,395) |
Class C | — | (63,251) |
Class I | (72,352) | (618,633) |
Class R6 | (8,780) | (53,336) |
Total distributions | (97,644) | (1,008,615) |
From fund share transactions | (1,195,942) | 2,133,732 |
Total increase (decrease) | (3,103,748) | 4,462,218 |
Net assets | ||
Beginning of period | 27,756,408 | 23,294,190 |
End of period | $24,652,660 | $27,756,408 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ESG All Cap Core Fund | 14 |
Financial highlights |
CLASS A SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-162 |
Per share operating performance | |||||
Net asset value, beginning of period | $13.60 | $12.44 | $12.03 | $10.14 | $10.00 |
Net investment income3 | 0.02 | 0.04 | 0.03 | 0.04 | 0.04 |
Net realized and unrealized gain (loss) on investments | (0.90) | 1.64 | 0.66 | 1.95 | 0.10 |
Total from investment operations | (0.88) | 1.68 | 0.69 | 1.99 | 0.14 |
Less distributions | |||||
From net investment income | (0.03) | (0.03) | (0.04) | (0.07) | — |
From net realized gain | — | (0.49) | (0.24) | (0.03) | — |
Total distributions | (0.03) | (0.52) | (0.28) | (0.10) | — |
Net asset value, end of period | $12.69 | $13.60 | $12.44 | $12.03 | $10.14 |
Total return (%)4,5 | (6.50)6 | 14.25 | 5.80 | 19.73 | 1.406 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $7 | $8 | $6 | $6 | $4 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.767 | 1.80 | 1.83 | 2.34 | 2.627 |
Expenses including reductions | 1.197 | 1.18 | 1.17 | 1.18 | 1.197 |
Net investment income | 0.277 | 0.33 | 0.23 | 0.38 | 0.477,8 |
Portfolio turnover (%) | 8 | 19 | 19 | 21 | 13 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 6-6-16 (commencement of operations) to 10-31-16. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Does not reflect the effect of sales charges, if any. |
6 | Not annualized. |
7 | Annualized. |
8 | A portion of income is presented unannualized. |
15 | JOHN HANCOCK ESG All Cap Core Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS C SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-162 |
Per share operating performance | |||||
Net asset value, beginning of period | $13.38 | $12.31 | $11.96 | $10.11 | $10.00 |
Net investment income (loss)3 | (0.03) | (0.05) | (0.07) | (0.04) | 0.01 |
Net realized and unrealized gain (loss) on investments | (0.89) | 1.61 | 0.66 | 1.95 | 0.10 |
Total from investment operations | (0.92) | 1.56 | 0.59 | 1.91 | 0.11 |
Less distributions | |||||
From net investment income | — | — | — | (0.03) | — |
From net realized gain | — | (0.49) | (0.24) | (0.03) | — |
Total distributions | — | (0.49) | (0.24) | (0.06) | — |
Net asset value, end of period | $12.46 | $13.38 | $12.31 | $11.96 | $10.11 |
Total return (%)4,5 | (6.88)6 | 13.36 | 4.98 | 18.90 | 1.106 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $2 | $2 | $2 | $1 | $1 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 2.517 | 2.55 | 2.58 | 3.09 | 3.377 |
Expenses including reductions | 1.947 | 1.93 | 1.92 | 1.93 | 1.947 |
Net investment loss | (0.47)7 | (0.42) | (0.52) | (0.37) | (0.28)7,8 |
Portfolio turnover (%) | 8 | 19 | 19 | 21 | 13 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 6-6-16 (commencement of operations) to 10-31-16. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Does not reflect the effect of sales charges, if any. |
6 | Not annualized. |
7 | Annualized. |
8 | A portion of income is presented unannualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ESG All Cap Core Fund | 16 |
CLASS I SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-162 |
Per share operating performance | |||||
Net asset value, beginning of period | $13.63 | $12.47 | $12.06 | $10.15 | $10.00 |
Net investment income3 | 0.04 | 0.07 | 0.06 | 0.07 | 0.05 |
Net realized and unrealized gain (loss) on investments | (0.90) | 1.64 | 0.66 | 1.95 | 0.10 |
Total from investment operations | (0.86) | 1.71 | 0.72 | 2.02 | 0.15 |
Less distributions | |||||
From net investment income | (0.06) | (0.06) | (0.07) | (0.08) | — |
From net realized gain | — | (0.49) | (0.24) | (0.03) | — |
Total distributions | (0.06) | (0.55) | (0.31) | (0.11) | — |
Net asset value, end of period | $12.71 | $13.63 | $12.47 | $12.06 | $10.15 |
Total return (%)4 | (6.37)5 | 14.47 | 6.02 | 20.07 | 1.505 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $15 | $17 | $14 | $12 | $9 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.516 | 1.56 | 1.59 | 2.08 | 2.366 |
Expenses including reductions | 0.946 | 0.93 | 0.93 | 0.92 | 0.926 |
Net investment income | 0.526 | 0.57 | 0.47 | 0.64 | 0.746,7 |
Portfolio turnover (%) | 8 | 19 | 19 | 21 | 13 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 6-6-16 (commencement of operations) to 10-31-16. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Not annualized. |
6 | Annualized. |
7 | A portion of income is presented unannualized. |
17 | JOHN HANCOCK ESG All Cap Core Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R6 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-162 |
Per share operating performance | |||||
Net asset value, beginning of period | $13.64 | $12.48 | $12.07 | $10.16 | $10.00 |
Net investment income3 | 0.04 | 0.09 | 0.07 | 0.08 | 0.06 |
Net realized and unrealized gain (loss) on investments | (0.89) | 1.63 | 0.66 | 1.95 | 0.10 |
Total from investment operations | (0.85) | 1.72 | 0.73 | 2.03 | 0.16 |
Less distributions | |||||
From net investment income | (0.07) | (0.07) | (0.08) | (0.09) | — |
From net realized gain | — | (0.49) | (0.24) | (0.03) | — |
Total distributions | (0.07) | (0.56) | (0.32) | (0.12) | — |
Net asset value, end of period | $12.72 | $13.64 | $12.48 | $12.07 | $10.16 |
Total return (%)4 | (6.27)5 | 14.60 | 6.14 | 20.14 | 1.605 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $—6 | $2 | $1 | $1 | $1 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.407 | 1.45 | 1.49 | 1.99 | 2.267 |
Expenses including reductions | 0.827 | 0.82 | 0.82 | 0.81 | 0.817 |
Net investment income | 0.627 | 0.68 | 0.58 | 0.75 | 0.847,8 |
Portfolio turnover (%) | 8 | 19 | 19 | 21 | 13 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 6-6-16 (commencement of operations) to 10-31-16. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Not annualized. |
6 | Less than $500,000. |
7 | Annualized. |
8 | A portion of income is presented unannualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ESG All Cap Core Fund | 18 |
Notes to financial statements (unaudited) |
19 | JOHN HANCOCK ESG All Cap Core Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK ESG All Cap Core Fund | 20 |
21 | JOHN HANCOCK ESG All Cap Core Fund | SEMIANNUAL REPORT |
Class | Expense reduction |
Class A | $21,606 |
Class C | 5,178 |
Class I | 47,593 |
Class | Expense reduction |
Class R6 | $3,852 |
Total | $78,229 |
Class | Rule 12b-1 Fee |
Class A | 0.25% |
Class C | 1.00% |
SEMIANNUAL REPORT | JOHN HANCOCK ESG All Cap Core Fund | 22 |
Class | Distribution and service fees | Transfer agent fees |
Class A | $9,346 | $4,692 |
Class C | 8,932 | 1,121 |
Class I | — | 10,356 |
Class R6 | — | 91 |
Total | $18,278 | $16,260 |
23 | JOHN HANCOCK ESG All Cap Core Fund | SEMIANNUAL REPORT |
Six Months Ended 4-30-20 | Year Ended 10-31-19 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 21,538 | $277,315 | 52,278 | $671,614 |
Distributions reinvested | 282 | 3,996 | 4,704 | 54,470 |
Repurchased | (11,123) | (138,857) | (23,513) | (302,617) |
Net increase | 10,697 | $142,454 | 33,469 | $423,467 |
Class C shares | ||||
Sold | 11,118 | $144,699 | 10,690 | $134,532 |
Distributions reinvested | — | — | 1,649 | 18,911 |
Repurchased | (1,924) | (26,678) | (6,878) | (85,058) |
Net increase | 9,194 | $118,021 | 5,461 | $68,385 |
Class I shares | ||||
Sold | 36,925 | $505,436 | 153,588 | $1,954,164 |
Distributions reinvested | 1,387 | 19,711 | 10,852 | 125,775 |
Repurchased | (74,316) | (965,166) | (58,629) | (746,393) |
Net increase (decrease) | (36,004) | $(440,019) | 105,811 | $1,333,546 |
Class R6 shares | ||||
Sold | 13,687 | $186,129 | 25,610 | $326,982 |
Distributions reinvested | 164 | 2,332 | 239 | 2,775 |
Repurchased | (94,415) | (1,204,859) | (1,643) | (21,423) |
Net increase (decrease) | (80,564) | $(1,016,398) | 24,206 | $308,334 |
Total net increase (decrease) | (96,677) | $(1,195,942) | 168,947 | $2,133,732 |
SEMIANNUAL REPORT | JOHN HANCOCK ESG All Cap Core Fund | 24 |
STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT
Operation of the Liquidity Risk Management Program
This section describes operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock ESG All Cap Core Fund, subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Fund's subadvisor, Trillium Asset Management, LLC (the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.
The Committee holds monthly meetings to: (1) review the day-to-day operations of the LRMP; (2) review and approve month end liquidity classifications; (3) review quarterly testing and determinations, as applicable; and (4) review other LRMP related material. The Committee also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Committee may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity and valuation issues.
The Committee provided the Board at a meeting held on March 15-17, 2020 with a written report which addressed the Committee's assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period December 1, 2018 through December 31, 2019, included an assessment of important aspects of the LRMP including, but not limited to:
• Operation of the Fund's Redemption-In-Kind Procedures;
• Highly Liquid Investment Minimum (HLIM) determination;
• Compliance with the 15% limit on illiquid investments;
• Reasonably Anticipated Trade Size (RATS) determination;
• Security-level liquidity classifications; and
• Liquidity risk assessment.
The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee's actions to address such matters.
Redemption-In-Kind Procedures
Rule 22e-4 requires any fund that engages in or reserves the right to engage in in-kind redemptions to adopt and implement written policies and procedures regarding in-kind redemptions as part of the management of its liquidity risk. These procedures address the process for redeeming in kind, as well as the circumstances under which the Fund would consider redeeming in kind. Anticipated large redemption activity will be evaluated to identify situations where redeeming in securities instead of cash may be appropriate.
As part of its annual assessment of the LRMP, the Committee reviewed the implementation and operation of the Redemption-In-Kind Procedures and determined they are operating in a manner that such procedures are adequate and effective to manage in-kind redemptions on behalf of the Fund as part of the LRMP.
Highly Liquid Investment Minimum determination
The Committee uses an HLIM model to determine a Fund's HLIM. This process incorporates the Fund's investment strategy, historical redemptions, liquidity classification rollup percentages and cash balances, redemption policy, access to funding sources, distribution channels and client concentrations. If the Fund falls below its established HLIM for a period greater than 7 consecutive calendar days, the Committee prepares a report to the Board within one business day following the seventh consecutive calendar day with an explanation of how the Fund plans to restore its HLIM within a reasonable period of time.
Based on the HLIM model, the Committee has determined that the Fund qualifies as a Primarily Highly Liquid Fund (PHLF). It is therefore not required to establish a HLIM. The Fund is tested quarterly to confirm its PHLF status.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to HLIM and PHLF determinations, and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Compliance with the 15% limit on illiquid investments
Rule 22e-4 sets an aggregate illiquid investment limit of 15% for a fund. Funds are prohibited from acquiring an illiquid investment if this results in greater than 15% of its net assets being classified as illiquid. When applying this limit, the Committee defines "illiquid investment" to mean any investment that the Fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. If a 15% illiquid investment limit breach occurs for longer than 1 business day, the Fund is required to notify the Board and provide a plan on how to bring illiquid investments within the 15% threshold, and after 7 days confidentially notify the Securities and Exchange Commission (the SEC).
In February 2019, as a result of extended security markets closures in connection with the Chinese New Year in certain countries, the SEC released guidance, and the Committee approved and adopted an Extended Market Holiday Policy to plan for and monitor known Extended Market Holidays (defined as all expected market holiday closures spanning four or more calendar days).
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to the 15% illiquid investment limit and determined such policies and procedures are operating in a manner that is adequate and effective as part of the LMRP.
Reasonably Anticipated Trade Size determination
In order to assess the liquidity risk of a Fund, the Committee considers the impact on the Fund that redemptions of a RATS would have under both normal and reasonably foreseeable stressed conditions. Modelling the Fund's RATS requires quantifying cash flow volatility and analyzing distribution channel concentration and redemption risk. The model is designed to estimate the amount of assets that the Fund could reasonably anticipate trading on a given day, during both normal and reasonably foreseeable stressed conditions, to satisfy redemption requests.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to RATS determinations and determined that such policies and procedures are operating in a manner that is adequate and effective at making RATS determinations as part of the LRMP.
Security-level liquidity classifications
When classifying the liquidity of portfolio securities, the Fund adheres to the liquidity classification procedures established by the Advisor. In assigning a liquidity classification to Fund portfolio holdings, the following key inputs, among others, are considered: the Fund's RATS, feedback from the applicable Subadvisor on market-, trading- and investment-specific considerations, an assessment of current market conditions and fund portfolio holdings, and a value impact standard. The Subadvisor also provides position-level data to the Committee for use in monthly classification reconciliation in order to identify any classifications that may need to be changed as a result of the above considerations.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to security-level liquidity classifications and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Liquidity risk assessment
The Committee periodically reviews and assesses, the Fund's liquidity risk, including its investment strategy and liquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions (including whether the investment strategy is appropriate for an open-end fund, the extent to which the strategy involves a relatively concentrated portfolio or large positions in particular issuers, and the use of borrowings for investment purposes and derivatives), cash flow analysis during both normal and reasonably foreseeable stressed conditions, and holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.
The Committee also monitors global events, such as the COVID-19 Coronavirus, that could impact the markets and liquidity of portfolio investments and their classifications.
As part of its annual assessment of the LRMP, the Committee reviewed Fund-Level Liquidity Risk Assessment Reports for each of the Funds and determined that the investment strategy for each Fund continues to be appropriate for an open-ended structure.
Adequacy and Effectiveness
Based on the review and assessment conducted by the Committee, the Committee has determined that the LRMP has been implemented, and is operating in a manner that is adequate and effective at assessing and managing the liquidity risk of each Fund.
Trustees Hassell H. McClellan,Chairperson Officers Andrew G. Arnott Francis V. Knox, Jr. Charles A. Rizzo Salvatore Schiavone Christopher (Kit) Sechler | Investment advisor John Hancock Investment Management LLC Subadvisor Trillium Asset Management, LLC Portfolio Managers Elizabeth R. Levy, CFA Principal distributor John Hancock Investment Management Distributors LLC Custodian Citibank, N.A. Transfer agent John Hancock Signature Services, Inc. Legal counsel K&L Gates LLP |
* Member of the Audit Committee
† Non-Independent Trustee
The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund's holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund's Form N-PORT filings are available on our website and the SEC's website, sec.gov.
We make this information on your fund, as well asmonthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
You can also contact us: | |||
800-225-5291 jhinvestments.com | Regular mail: John Hancock Signature Services, Inc. | Express mail: John Hancock Signature Services, Inc. |
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A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
ASSET ALLOCATION Balanced Multi-Asset High Income Multi-Index Lifetime Portfolios Multi-Index Preservation Portfolios Multimanager Lifestyle Portfolios Multimanager Lifetime Portfolios Retirement Income 2040 EXCHANGE-TRADED FUNDS John Hancock Multifactor Consumer Discretionary ETF John Hancock Multifactor Consumer Staples ETF John Hancock Multifactor Developed International ETF John Hancock Multifactor Emerging Markets ETF John Hancock Multifactor Energy ETF John Hancock Multifactor Financials ETF John Hancock Multifactor Healthcare ETF John Hancock Multifactor Industrials ETF John Hancock Multifactor Large Cap ETF John Hancock Multifactor Materials ETF John Hancock Multifactor Media and John Hancock Multifactor Mid Cap ETF John Hancock Multifactor Small Cap ETF John Hancock Multifactor Technology ETF John Hancock Multifactor Utilities ETF | ENVIRONMENTAL, SOCIAL, AND ESG All Cap Core ESG Core Bond ESG International Equity ESG Large Cap Core CLOSED-END FUNDS Financial Opportunities Hedged Equity & Income Income Securities Trust Investors Trust Preferred Income Preferred Income II Preferred Income III Premium Dividend Tax-Advantaged Dividend Income Tax-Advantaged Global Shareholder Yield |
John Hancock Multifactor ETF shares are bought and sold at market price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Investment Management Distributors LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock Multifactor ETFs.
John Hancock Investment Management
A trusted brand
John Hancock Investment Management is a premier asset manager
representing one of America's most trusted brands, with a heritage of
financial stewardship dating back to 1862. Helping our shareholders
pursue their financial goals is at the core of everything we do. It's why
we support the role of professional financial advice and operate with
the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world's best
managers, along with strong risk-adjusted returns across asset classes.
John Hancock Investment Management Distributors LLC n Member FINRA, SIPC
200 Berkeley Street n Boston, MA 02116-5010 n 800-225-5291 n jhinvestments.com
This report is for the information of the shareholders of John Hancock ESG All Cap Core Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF1182599 | 466SA 4/20 6/2020 |
John Hancock
ESG Large Cap Core Fund
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the fund's shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change, and you do not need to take any action. You may elect to receive shareholder reports and other communications electronically by calling John Hancock Investment Management at 800-225-5291 (Class A and Class C shares) or 888-972-8696 (Class I and Class R6 shares) or by contacting your financial intermediary.
You may elect to receive all reports in paper, free of charge, at any time. You can inform John Hancock Investment Management or your financial intermediary that you wish to continue receiving paper copies of your shareholder reports by following the instructions listed above. Your election to receive reports in paper will apply to all funds held with John Hancock Investment Management or your financial intermediary.
A message to shareholders
Dear shareholder,
The U.S. financial markets were on pace to deliver strong returns during the 6 months ended April 30, 2020, until heightened fears over the coronavirus (COVID-19) sent markets tumbling during the latter half of February and early March.
In response to the sell-off, the U.S. Federal Reserve acted quickly with a broad array of actions to limit the economic damage from the pandemic, including up to $2.3 trillion in lending to support households, employers, financial markets, and state and local governments. These steps, along with the passage of an estimated $2 trillion federal economic stimulus bill, helped lift the markets during the final month of the period.
The continued spread of COVID-19, trade disputes, rising unemployment, and other geopolitical tensions may continue to create uncertainty among businesses and investors. Your financial professional can helpposition your portfolio so that it's sufficiently diversified to seek to meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I'd like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you've placed in us.
Sincerely,
Andrew G. Arnott
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO's views as of this report's period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
ESG Large Cap Core Fund
INVESTMENT OBJECTIVE
The fund seeks long-term capital appreciation.
TOTAL RETURNS AS OF 4/30/2020 (%)
The S&P 500 Index is an unmanaged index that includes 500 widely traded common stocks.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower. Since-inception returns for the Morningstar fund category average are not available.
On January 30, 2020, it was announced that the fund's subadvisor, Trillium Asset Management, LLC, was being purchased by Perpetual Limited. The change in control is expected to take place on or about June 30, 2020. It is expected to have no effect on the objectives of the fund or on the personnel who manage it.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus. The fund recently experienced negative short-term performance due to market volatility associated with the COVID-19 pandemic.
SECTOR COMPOSITION AS OF 4/30/2020 (%)
TOP 10 HOLDINGS AS OF 4/30/2020 (%)
Microsoft Corp. | 6.3 |
Apple, Inc. | 5.2 |
Alphabet, Inc., Class A | 4.9 |
Mastercard, Inc., Class A | 3.5 |
Verizon Communications, Inc. | 2.5 |
Merck & Company, Inc. | 2.4 |
PayPal Holdings, Inc. | 2.2 |
Bank of America Corp. | 2.1 |
American Tower Corp. | 2.1 |
Facebook, Inc., Class A | 2.1 |
TOTAL | 33.3 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
A note about risks
The fund may be subject to various risks as described in the fund's prospectus. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange trading suspensions and closures, impact the ability to complete redemptions, and affect fund performance. For example, the novel coronavirus disease (COVID-19) has resulted in significant disruptions to global business activity. The impact of a health crisis and other epidemics and pandemics that may arise in the future, could affect the global economy in ways that cannot necessarily be foreseen at the present time. A health crisis may exacerbate other pre-existing political, social, and economic risks. Any such impact could adversely affect the funds' performance, resulting in losses to your investment. For more information, please refer to the "Principal risks" section of the prospectus.
TOTAL RETURNS FOR THE PERIOD ENDED APRIL 30, 2020
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | ||||||
1-year | Since inception1 | 6-month | Since inception1 | ||||
Class A | -6.31 | 8.01 | -10.18 | 35.08 | |||
Class C | -3.08 | 8.64 | -6.75 | 38.18 | |||
Class I2 | -1.09 | 9.73 | -5.32 | 43.65 | |||
Class R62 | -0.99 | 9.86 | -5.22 | 44.31 | |||
Index† | 0.86 | 10.95 | -3.16 | 50.00 |
Performance figures assume all distributions have been reinvested. Figures reflect maximum sales charges on Class A shares of 5%, and the applicable contingent deferred sales charge (CDSC) on Class C shares. Class C shares sold within one year of purchase are subject to a 1% CDSC. Sales charges are not applicable to Class I and Class R6 shares.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until February 28, 2021 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Class A | Class C | Class I | Class R6 | |
Gross (%) | 1.48 | 2.23 | 1.23 | 1.12 |
Net (%) | 1.18 | 1.93 | 0.93 | 0.82 |
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.
The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.
The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.
† | Index is the S&P 500 Index. |
See the following page for footnotes.
This chart and table show what happened to a hypothetical $10,000 investment in John Hancock ESG Large Cap Core Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in the S&P 500 Index.
Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class C3 | 6-6-16 | 13,818 | 13,818 | 15,000 |
Class I2 | 6-6-16 | 14,365 | 14,365 | 15,000 |
Class R62 | 6-6-16 | 14,431 | 14,431 | 15,000 |
The S&P 500 Index is an unmanaged index that includes 500 widely traded common stocks.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Footnotes related to performance pages
1 | From 6-6-2016. |
2 | For certain types of investors as described in the fund's prospectus. |
3 | The contingent deferred sales charge is not applicable. |
Your expenses |
SEMIANNUAL REPORT | JOHN HANCOCK ESG LARGE CAP CORE FUND | 6 |
Account value on 11-1-2019 | Ending value on 4-30-2020 | Expenses paid during period ended 4-30-20201 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $945.30 | $5.76 | 1.19% |
Hypothetical example | 1,000.00 | 1,018.90 | 5.97 | 1.19% | |
Class C | Actual expenses/actual returns | 1,000.00 | 941.90 | 9.37 | 1.94% |
Hypothetical example | 1,000.00 | 1,015.20 | 9.72 | 1.94% | |
Class I | Actual expenses/actual returns | 1,000.00 | 946.80 | 4.55 | 0.94% |
Hypothetical example | 1,000.00 | 1,020.20 | 4.72 | 0.94% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 947.80 | 3.97 | 0.82% |
Hypothetical example | 1,000.00 | 1,020.80 | 4.12 | 0.82% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period). |
7 | JOHN HANCOCK ESG LARGE CAP CORE FUND | SEMIANNUAL REPORT |
Fund’s investments |
Shares | Value | ||||
Common stocks 99.5% | $55,879,127 | ||||
(Cost $47,466,565) | |||||
Communication services 10.1% | 5,683,655 | ||||
Diversified telecommunication services 2.5% | |||||
Verizon Communications, Inc. | 24,768 | 1,422,922 | |||
Interactive media and services 7.0% | |||||
Alphabet, Inc., Class A (A) | 2,051 | 2,762,082 | |||
Facebook, Inc., Class A (A) | 5,617 | 1,149,856 | |||
Media 0.6% | |||||
Omnicom Group, Inc. | 6,116 | 348,795 | |||
Consumer discretionary 10.7% | 6,029,070 | ||||
Hotels, restaurants and leisure 1.0% | |||||
Starbucks Corp. | 6,954 | 533,580 | |||
Internet and direct marketing retail 1.1% | |||||
Booking Holdings, Inc. (A) | 428 | 633,684 | |||
Multiline retail 1.8% | |||||
Target Corp. | 9,058 | 994,025 | |||
Specialty retail 4.9% | |||||
The Home Depot, Inc. | 4,458 | 980,002 | |||
The TJX Companies, Inc. | 18,901 | 927,094 | |||
Tractor Supply Company | 8,541 | 866,314 | |||
Textiles, apparel and luxury goods 1.9% | |||||
NIKE, Inc., Class B | 12,553 | 1,094,371 | |||
Consumer staples 7.0% | 3,913,189 | ||||
Food and staples retailing 2.7% | |||||
Costco Wholesale Corp. | 3,121 | 945,663 | |||
Sysco Corp. | 9,910 | 557,636 | |||
Food products 1.1% | |||||
McCormick & Company, Inc. | 3,852 | 604,148 | |||
Household products 1.6% | |||||
The Procter & Gamble Company | 7,507 | 884,850 | |||
Personal products 1.6% | |||||
Unilever NV, NYRS | 18,634 | 920,892 | |||
Energy 0.9% | 504,408 | ||||
Oil, gas and consumable fuels 0.9% | |||||
EOG Resources, Inc. | 5,367 | 254,986 | |||
Marathon Petroleum Corp. | 7,775 | 249,422 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ESG LARGE CAP CORE FUND | 8 |
Shares | Value | ||||
Financials 11.0% | $6,154,337 | ||||
Banks 6.7% | |||||
Bank of America Corp. | 49,946 | 1,201,201 | |||
First Republic Bank | 7,784 | 811,793 | |||
KeyCorp | 67,673 | 788,390 | |||
The PNC Financial Services Group, Inc. | 8,684 | 926,322 | |||
Capital markets 0.9% | |||||
The Bank of New York Mellon Corp. | 13,730 | 515,424 | |||
Insurance 3.4% | |||||
Aflac, Inc. | 15,906 | 592,339 | |||
Lincoln National Corp. | 12,963 | 459,798 | |||
The Travelers Companies, Inc. | 8,488 | 859,070 | |||
Health care 15.3% | 8,610,258 | ||||
Health care equipment and supplies 5.0% | |||||
Baxter International, Inc. | 12,268 | 1,089,153 | |||
Becton, Dickinson and Company | 2,122 | 535,869 | |||
Medtronic PLC | 6,401 | 624,930 | |||
Stryker Corp. | 3,103 | 578,492 | |||
Health care providers and services 3.5% | |||||
Cigna Corp. | 3,994 | 781,945 | |||
CVS Health Corp. | 10,984 | 676,065 | |||
Quest Diagnostics, Inc. | 4,529 | 498,688 | |||
Life sciences tools and services 2.6% | |||||
Illumina, Inc. (A) | 1,819 | 580,316 | |||
IQVIA Holdings, Inc. (A) | 6,241 | 889,904 | |||
Pharmaceuticals 4.2% | |||||
AstraZeneca PLC, ADR | 18,081 | 945,275 | |||
Johnson & Johnson | 277 | 41,561 | |||
Merck & Company, Inc. | 17,243 | 1,368,060 | |||
Industrials 9.2% | 5,142,760 | ||||
Air freight and logistics 1.2% | |||||
United Parcel Service, Inc., Class B | 6,901 | 653,249 | |||
Building products 1.3% | |||||
Trane Technologies PLC | 8,228 | 719,292 | |||
Commercial services and supplies 1.0% | |||||
Waste Management, Inc. | 5,760 | 576,115 | |||
Electrical equipment 2.9% | |||||
Eaton Corp. PLC | 10,146 | 847,191 | |||
Rockwell Automation, Inc. | 3,941 | 746,741 | |||
Machinery 1.8% | |||||
Deere & Company | 2,158 | 313,039 | |||
Ingersoll Rand, Inc. (A) | 7,138 | 207,573 |
9 | JOHN HANCOCK ESG LARGE CAP CORE FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Industrials (continued) | |||||
Machinery (continued) | |||||
Xylem, Inc. | 7,115 | $511,569 | |||
Road and rail 1.0% | |||||
J.B. Hunt Transport Services, Inc. | 5,617 | 567,991 | |||
Information technology 26.9% | 15,134,046 | ||||
Communications equipment 1.0% | |||||
Cisco Systems, Inc. | 13,962 | 591,710 | |||
IT services 5.7% | |||||
Mastercard, Inc., Class A | 7,133 | 1,961,361 | |||
PayPal Holdings, Inc. (A) | 10,128 | 1,245,744 | |||
Semiconductors and semiconductor equipment 3.8% | |||||
ASML Holding NV, NYRS | 2,193 | 632,527 | |||
First Solar, Inc. (A) | 6,384 | 280,960 | |||
NXP Semiconductors NV | 4,280 | 426,160 | |||
Texas Instruments, Inc. | 6,829 | 792,642 | |||
Software 11.2% | |||||
Adobe, Inc. (A) | 3,103 | 1,097,345 | |||
Autodesk, Inc. (A) | 5,153 | 964,281 | |||
Microsoft Corp. | 19,793 | 3,547,103 | |||
Palo Alto Networks, Inc. (A) | 3,441 | 676,191 | |||
Technology hardware, storage and peripherals 5.2% | |||||
Apple, Inc. | 9,932 | 2,918,022 | |||
Materials 2.0% | 1,140,814 | ||||
Chemicals 2.0% | |||||
Ecolab, Inc. | 3,227 | 624,425 | |||
International Flavors & Fragrances, Inc. | 3,941 | 516,389 | |||
Real estate 4.5% | 2,519,229 | ||||
Equity real estate investment trusts 3.9% | |||||
American Tower Corp. | 4,939 | 1,175,482 | |||
AvalonBay Communities, Inc. | 2,372 | 386,517 | |||
Prologis, Inc. | 6,936 | 618,899 | |||
Real estate management and development 0.6% | |||||
CBRE Group, Inc., Class A (A) | 7,881 | 338,331 | |||
Utilities 1.9% | 1,047,361 | ||||
Electric utilities 0.8% | |||||
Avangrid, Inc. | 10,128 | 435,504 | |||
Water utilities 1.1% | |||||
American Water Works Company, Inc. | 5,028 | 611,857 | |||
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ESG LARGE CAP CORE FUND | 10 |
Yield (%) | Shares | Value | |||
Short-term investments 0.2% | $95,989 | ||||
(Cost $95,989) | |||||
Short-term funds 0.2% | 95,989 | ||||
Federated Government Obligations Fund, Institutional Class | 0.2086(B) | 95,989 | 95,989 |
Total investments (Cost $47,562,554) 99.7% | $55,975,116 | ||||
Other assets and liabilities, net 0.3% | 184,534 | ||||
Total net assets 100.0% | $56,159,650 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
Security Abbreviations and Legend | |
ADR | American Depositary Receipt |
NYRS | New York Registry Shares |
(A) | Non-income producing security. |
(B) | The rate shown is the annualized seven-day yield as of 4-30-20. |
11 | JOHN HANCOCK ESG LARGE CAP CORE FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Financial statements |
Assets | |
Unaffiliated investments, at value (Cost $47,562,554) | $55,975,116 |
Dividends and interest receivable | 59,008 |
Receivable for fund shares sold | 125,314 |
Receivable from affiliates | 367 |
Other assets | 59,664 |
Total assets | 56,219,469 |
Liabilities | |
Payable for fund shares repurchased | 7,882 |
Payable to affiliates | |
Accounting and legal services fees | 3,387 |
Transfer agent fees | 5,881 |
Trustees' fees | 228 |
Other liabilities and accrued expenses | 42,441 |
Total liabilities | 59,819 |
Net assets | $56,159,650 |
Net assets consist of | |
Paid-in capital | $47,016,718 |
Total distributable earnings (loss) | 9,142,932 |
Net assets | $56,159,650 |
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 ($6,326,183 ÷ 467,843 shares)1 | $13.52 |
Class C ($2,551,164 ÷ 191,529 shares)1 | $13.32 |
Class I ($46,583,878 ÷ 3,440,011 shares) | $13.54 |
Class R6 ($698,425 ÷ 51,556 shares) | $13.55 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $14.23 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ESG Large Cap Core Fund | 12 |
Investment income | |
Dividends | $550,548 |
Interest | 5,361 |
Total investment income | 555,909 |
Expenses | |
Investment management fees | 239,187 |
Distribution and service fees | 24,083 |
Accounting and legal services fees | 5,651 |
Transfer agent fees | 39,200 |
Trustees' fees | 716 |
Custodian fees | 17,470 |
State registration fees | 32,013 |
Printing and postage | 10,376 |
Professional fees | 25,222 |
Other | 8,101 |
Total expenses | 402,019 |
Less expense reductions | (80,386) |
Net expenses | 321,633 |
Net investment income | 234,276 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments | 638,904 |
638,904 | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments | (4,326,950) |
(4,326,950) | |
Net realized and unrealized loss | (3,688,046) |
Decrease in net assets from operations | $(3,453,770) |
13 | JOHN HANCOCK ESG Large Cap Core Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Six months ended 4-30-20 (unaudited) | Year ended 10-31-19 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $234,276 | $414,551 |
Net realized gain | 638,904 | 556,503 |
Change in net unrealized appreciation (depreciation) | (4,326,950) | 7,312,289 |
Increase (decrease) in net assets resulting from operations | (3,453,770) | 8,283,343 |
Distributions to shareholders | ||
From earnings | ||
Class A | (126,313) | (132,155) |
Class C | (20,436) | (27,487) |
Class I | (776,655) | (966,307) |
Class R6 | (28,490) | (35,007) |
Total distributions | (951,894) | (1,160,956) |
From fund share transactions | (4,276,261) | 5,982,348 |
Total increase (decrease) | (8,681,925) | 13,104,735 |
Net assets | ||
Beginning of period | 64,841,575 | 51,736,840 |
End of period | $56,159,650 | $64,841,575 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ESG Large Cap Core Fund | 14 |
Financial highlights |
CLASS A SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-162 |
Per share operating performance | |||||
Net asset value, beginning of period | $14.48 | $12.79 | $11.81 | $10.11 | $10.00 |
Net investment income3 | 0.04 | 0.07 | 0.06 | 0.07 | 0.04 |
Net realized and unrealized gain (loss) on investments | (0.81) | 1.88 | 1.04 | 1.71 | 0.07 |
Total from investment operations | (0.77) | 1.95 | 1.10 | 1.78 | 0.11 |
Less distributions | |||||
From net investment income | (0.07) | (0.05) | (0.03) | (0.08) | — |
From net realized gain | (0.12) | (0.21) | (0.09) | — | — |
Total distributions | (0.19) | (0.26) | (0.12) | (0.08) | — |
Net asset value, end of period | $13.52 | $14.48 | $12.79 | $11.81 | $10.11 |
Total return (%)4,5 | (5.47)6 | 15.59 | 9.41 | 17.68 | 1.106 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $6 | $9 | $6 | $6 | $4 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.447 | 1.47 | 1.55 | 2.23 | 2.737 |
Expenses including reductions | 1.197 | 1.18 | 1.17 | 1.18 | 1.197 |
Net investment income | 0.557 | 0.54 | 0.46 | 0.59 | 0.647,8 |
Portfolio turnover (%) | 14 | 21 | 22 | 17 | 23 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 6-6-16 (commencement of operations) to 10-31-16. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Does not reflect the effect of sales charges, if any. |
6 | Not annualized. |
7 | Annualized. |
8 | A portion of income is presented unannualized. |
15 | JOHN HANCOCK ESG Large Cap Core Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS C SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-162 |
Per share operating performance | |||||
Net asset value, beginning of period | $14.26 | $12.64 | $11.73 | $10.08 | $10.00 |
Net investment income (loss)3 | (0.01) | (0.03) | (0.04) | (0.02) | 0.01 |
Net realized and unrealized gain (loss) on investments | (0.81) | 1.86 | 1.04 | 1.70 | 0.07 |
Total from investment operations | (0.82) | 1.83 | 1.00 | 1.68 | 0.08 |
Less distributions | |||||
From net investment income | — | — | — | (0.03) | — |
From net realized gain | (0.12) | (0.21) | (0.09) | — | — |
Total distributions | (0.12) | (0.21) | (0.09) | (0.03) | — |
Net asset value, end of period | $13.32 | $14.26 | $12.64 | $11.73 | $10.08 |
Total return (%)4,5 | (5.81)6 | 14.78 | 8.61 | 16.75 | 0.806 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $3 | $2 | $2 | $1 | $1 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 2.197 | 2.22 | 2.30 | 2.98 | 3.487 |
Expenses including reductions | 1.947 | 1.93 | 1.92 | 1.93 | 1.947 |
Net investment loss | (0.18)7 | (0.21) | (0.30) | (0.16) | (0.11)7,8 |
Portfolio turnover (%) | 14 | 21 | 22 | 17 | 23 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 6-6-16 (commencement of operations) to 10-31-16. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Does not reflect the effect of sales charges, if any. |
6 | Not annualized. |
7 | Annualized. |
8 | A portion of income is presented unannualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ESG Large Cap Core Fund | 16 |
CLASS I SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-162 |
Per share operating performance | |||||
Net asset value, beginning of period | $14.51 | $12.82 | $11.84 | $10.12 | $10.00 |
Net investment income3 | 0.06 | 0.11 | 0.09 | 0.08 | 0.05 |
Net realized and unrealized gain (loss) on investments | (0.81) | 1.87 | 1.04 | 1.73 | 0.07 |
Total from investment operations | (0.75) | 1.98 | 1.13 | 1.81 | 0.12 |
Less distributions | |||||
From net investment income | (0.10) | (0.08) | (0.06) | (0.09) | — |
From net realized gain | (0.12) | (0.21) | (0.09) | — | — |
Total distributions | (0.22) | (0.29) | (0.15) | (0.09) | — |
Net asset value, end of period | $13.54 | $14.51 | $12.82 | $11.84 | $10.12 |
Total return (%)4 | (5.32)5 | 15.86 | 9.64 | 18.02 | 1.205 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $47 | $51 | $42 | $30 | $9 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.196 | 1.23 | 1.31 | 1.97 | 2.476 |
Expenses including reductions | 0.946 | 0.93 | 0.93 | 0.92 | 0.926 |
Net investment income | 0.816 | 0.79 | 0.69 | 0.69 | 0.886,7 |
Portfolio turnover (%) | 14 | 21 | 22 | 17 | 23 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 6-6-16 (commencement of operations) to 10-31-16. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Not annualized. |
6 | Annualized. |
7 | A portion of income is presented unannualized. |
17 | JOHN HANCOCK ESG Large Cap Core Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R6 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-17 | 10-31-162 |
Per share operating performance | |||||
Net asset value, beginning of period | $14.52 | $12.83 | $11.85 | $10.13 | $10.00 |
Net investment income3 | 0.07 | 0.12 | 0.10 | 0.11 | 0.06 |
Net realized and unrealized gain (loss) on investments | (0.81) | 1.87 | 1.04 | 1.71 | 0.07 |
Total from investment operations | (0.74) | 1.99 | 1.14 | 1.82 | 0.13 |
Less distributions | |||||
From net investment income | (0.11) | (0.09) | (0.07) | (0.10) | — |
From net realized gain | (0.12) | (0.21) | (0.09) | — | — |
Total distributions | (0.23) | (0.30) | (0.16) | (0.10) | — |
Net asset value, end of period | $13.55 | $14.52 | $12.83 | $11.85 | $10.13 |
Total return (%)4 | (5.22)5 | 15.97 | 9.76 | 18.09 | 1.305 |
Ratios and supplemental data | |||||
Net assets, end of period (in millions) | $1 | $2 | $1 | $1 | $1 |
Ratios (as a percentage of average net assets): | |||||
Expenses before reductions | 1.086 | 1.12 | 1.20 | 1.87 | 2.386 |
Expenses including reductions | 0.826 | 0.82 | 0.82 | 0.81 | 0.816 |
Net investment income | 0.916 | 0.90 | 0.80 | 0.97 | 0.996,7 |
Portfolio turnover (%) | 14 | 21 | 22 | 17 | 23 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 6-6-16 (commencement of operations) to 10-31-16. |
3 | Based on average daily shares outstanding. |
4 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
5 | Not annualized. |
6 | Annualized. |
7 | A portion of income is presented unannualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ESG Large Cap Core Fund | 18 |
Notes to financial statements (unaudited) |
19 | JOHN HANCOCK ESG Large Cap Core Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK ESG Large Cap Core Fund | 20 |
21 | JOHN HANCOCK ESG Large Cap Core Fund | SEMIANNUAL REPORT |
Class | Expense reduction |
Class A | $12,026 |
Class C | 3,076 |
Class I | 63,473 |
Class | Expense reduction |
Class R6 | $1,811 |
Total | $80,386 |
Class | Rule 12b-1 Fee |
Class A | 0.25% |
Class C | 1.00% |
SEMIANNUAL REPORT | JOHN HANCOCK ESG Large Cap Core Fund | 22 |
Class | Distribution and service fees | Transfer agent fees |
Class A | $11,939 | $5,995 |
Class C | 12,144 | 1,525 |
Class I | — | 31,583 |
Class R6 | — | 97 |
Total | $24,083 | $39,200 |
Six Months Ended 4-30-20 | Year Ended 10-31-19 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 163,308 | $2,180,208 | 211,879 | $2,880,389 |
Distributions reinvested | 2,584 | 38,557 | 2,034 | 24,757 |
Repurchased | (351,756) | (4,781,957) | (60,947) | (825,851) |
Net increase (decrease) | (185,864) | $(2,563,192) | 152,966 | $2,079,295 |
Class C shares | ||||
Sold | 34,284 | $472,037 | 51,342 | $634,793 |
Distributions reinvested | 637 | 9,389 | 711 | 8,570 |
Repurchased | (9,590) | (137,323) | (8,096) | (104,790) |
Net increase | 25,331 | $344,103 | 43,957 | $538,573 |
23 | JOHN HANCOCK ESG Large Cap Core Fund | SEMIANNUAL REPORT |
Six Months Ended 4-30-20 | Year Ended 10-31-19 | |||
Shares | Amount | Shares | Amount | |
Class I shares | ||||
Sold | 433,734 | $6,113,247 | 1,135,273 | $15,185,714 |
Distributions reinvested | 16,769 | 250,361 | 22,482 | 273,605 |
Repurchased | (541,244) | (7,452,866) | (926,533) | (12,175,390) |
Net increase (decrease) | (90,741) | $(1,089,258) | 231,222 | $3,283,929 |
Class R6 shares | ||||
Sold | 22,940 | $288,496 | 6,846 | $91,746 |
Distributions reinvested | 501 | 7,482 | 653 | 7,949 |
Repurchased | (93,840) | (1,263,892) | (1,350) | (19,144) |
Net increase (decrease) | (70,399) | $(967,914) | 6,149 | $80,551 |
Total net increase (decrease) | (321,673) | $(4,276,261) | 434,294 | $5,982,348 |
SEMIANNUAL REPORT | JOHN HANCOCK ESG Large Cap Core Fund | 24 |
STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT
Operation of the Liquidity Risk Management Program
This section describes operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock ESG Large Cap Core Fund, subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Fund's subadvisor, Trillium Asset Management, LLC (the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.
The Committee holds monthly meetings to: (1) review the day-to-day operations of the LRMP; (2) review and approve month end liquidity classifications; (3) review quarterly testing and determinations, as applicable; and (4) review other LRMP related material. The Committee also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Committee may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity and valuation issues.
The Committee provided the Board at a meeting held on March 15-17, 2020 with a written report which addressed the Committee's assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period December 1, 2018 through December 31, 2019, included an assessment of important aspects of the LRMP including, but not limited to:
• Operation of the Fund's Redemption-In-Kind Procedures;
• Highly Liquid Investment Minimum (HLIM) determination;
• Compliance with the 15% limit on illiquid investments;
• Reasonably Anticipated Trade Size (RATS) determination;
• Security-level liquidity classifications; and
• Liquidity risk assessment.
The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee's actions to address such matters.
Redemption-In-Kind Procedures
Rule 22e-4 requires any fund that engages in or reserves the right to engage in in-kind redemptions to adopt and implement written policies and procedures regarding in-kind redemptions as part of the management of its liquidity risk. These procedures address the process for redeeming in kind, as well as the circumstances under which the Fund would consider redeeming in kind. Anticipated large redemption activity will be evaluated to identify situations where redeeming in securities instead of cash may be appropriate.
As part of its annual assessment of the LRMP, the Committee reviewed the implementation and operation of the Redemption-In-Kind Procedures and determined they are operating in a manner that such procedures are adequate and effective to manage in-kind redemptions on behalf of the Fund as part of the LRMP.
Highly Liquid Investment Minimum determination
The Committee uses an HLIM model to determine a Fund's HLIM. This process incorporates the Fund's investment strategy, historical redemptions, liquidity classification rollup percentages and cash balances, redemption policy, access to funding sources, distribution channels and client concentrations. If the Fund falls below its established HLIM for a period greater than 7 consecutive calendar days, the Committee prepares a report to the Board within one business day following the seventh consecutive calendar day with an explanation of how the Fund plans to restore its HLIM within a reasonable period of time.
Based on the HLIM model, the Committee has determined that the Fund qualifies as a Primarily Highly Liquid Fund (PHLF). It is therefore not required to establish a HLIM. The Fund is tested quarterly to confirm its PHLF status.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to HLIM and PHLF determinations, and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Compliance with the 15% limit on illiquid investments
Rule 22e-4 sets an aggregate illiquid investment limit of 15% for a fund. Funds are prohibited from acquiring an illiquid investment if this results in greater than 15% of its net assets being classified as illiquid. When applying this limit, the Committee defines "illiquid investment" to mean any investment that the Fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. If a 15% illiquid investment limit breach occurs for longer than 1 business day, the Fund is required to notify the Board and provide a plan on how to bring illiquid investments within the 15% threshold, and after 7 days confidentially notify the Securities and Exchange Commission (the SEC).
In February 2019, as a result of extended security markets closures in connection with the Chinese New Year in certain countries, the SEC released guidance, and the Committee approved and adopted an Extended Market Holiday Policy to plan for and monitor known Extended Market Holidays (defined as all expected market holiday closures spanning four or more calendar days).
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to the 15% illiquid investment limit and determined such policies and procedures are operating in a manner that is adequate and effective as part of the LMRP.
Reasonably Anticipated Trade Size determination
In order to assess the liquidity risk of a Fund, the Committee considers the impact on the Fund that redemptions of a RATS would have under both normal and reasonably foreseeable stressed conditions. Modelling the Fund's RATS requires quantifying cash flow volatility and analyzing distribution channel concentration and redemption risk. The model is designed to estimate the amount of assets that the Fund could reasonably anticipate trading on a given day, during both normal and reasonably foreseeable stressed conditions, to satisfy redemption requests.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to RATS determinations and determined that such policies and procedures are operating in a manner that is adequate and effective at making RATS determinations as part of the LRMP.
Security-level liquidity classifications
When classifying the liquidity of portfolio securities, the Fund adheres to the liquidity classification procedures established by the Advisor. In assigning a liquidity classification to Fund portfolio holdings, the following key inputs, among others, are considered: the Fund's RATS, feedback from the applicable Subadvisor on market-, trading- and investment-specific considerations, an assessment of current market conditions and fund portfolio holdings, and a value impact standard. The Subadvisor also provides position-level data to the Committee for use in monthly classification reconciliation in order to identify any classifications that may need to be changed as a result of the above considerations.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to security-level liquidity classifications and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Liquidity risk assessment
The Committee periodically reviews and assesses, the Fund's liquidity risk, including its investment strategy and liquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions (including whether the investment strategy is appropriate for an open-end fund, the extent to which the strategy involves a relatively concentrated portfolio or large positions in particular issuers, and the use of borrowings for investment purposes and derivatives), cash flow analysis during both normal and reasonably foreseeable stressed conditions, and holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.
The Committee also monitors global events, such as the COVID-19 Coronavirus, that could impact the markets and liquidity of portfolio investments and their classifications.
As part of its annual assessment of the LRMP, the Committee reviewed Fund-Level Liquidity Risk Assessment Reports for each of the Funds and determined that the investment strategy for each Fund continues to be appropriate for an open-ended structure.
Adequacy and Effectiveness
Based on the review and assessment conducted by the Committee, the Committee has determined that the LRMP has been implemented, and is operating in a manner that is adequate and effective at assessing and managing the liquidity risk of each Fund.
Trustees Hassell H. McClellan,Chairperson Officers Andrew G. Arnott Francis V. Knox, Jr. Charles A. Rizzo Salvatore Schiavone Christopher (Kit) Sechler | Investment advisor John Hancock Investment Management LLC Subadvisor Trillium Asset Management, LLC Portfolio Managers Elizabeth R. Levy, CFA Principal distributor John Hancock Investment Management Distributors LLC Custodian Citibank, N.A. Transfer agent John Hancock Signature Services, Inc. Legal counsel K&L Gates LLP |
* Member of the Audit Committee
† Non-Independent Trustee
The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund's holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund's Form N-PORT filings are available on our website and the SEC's website, sec.gov.
We make this information on your fund, as well asmonthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
You can also contact us: | |||
800-225-5291 jhinvestments.com | Regular mail: John Hancock Signature Services, Inc. | Express mail: John Hancock Signature Services, Inc. |
John Hancock family of funds
DOMESTIC EQUITY FUNDS Blue Chip Growth Classic Value Disciplined Value Disciplined Value Mid Cap Equity Income Financial Industries Fundamental All Cap Core Fundamental Large Cap Core New Opportunities Regional Bank Small Cap Core Small Cap Growth Small Cap Value U.S. Global Leaders Growth U.S. Quality Growth GLOBAL AND INTERNATIONAL EQUITY FUNDS Disciplined Value International Emerging Markets Emerging Markets Equity Fundamental Global Franchise Global Equity Global Shareholder Yield Global Thematic Opportunities International Dynamic Growth International Growth International Small Company | INCOME FUNDS Bond California Tax-Free Income Emerging Markets Debt Floating Rate Income Government Income High Yield High Yield Municipal Bond Income Investment Grade Bond Money Market Short Duration Bond Short Duration Credit Opportunities Strategic Income Opportunities Tax-Free Bond ALTERNATIVE AND SPECIALTY FUNDS Absolute Return Currency Alternative Asset Allocation Alternative Risk Premia Diversified Macro Infrastructure Multi-Asset Absolute Return Seaport Long/Short |
A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
ASSET ALLOCATION Balanced Multi-Asset High Income Multi-Index Lifetime Portfolios Multi-Index Preservation Portfolios Multimanager Lifestyle Portfolios Multimanager Lifetime Portfolios Retirement Income 2040 EXCHANGE-TRADED FUNDS John Hancock Multifactor Consumer Discretionary ETF John Hancock Multifactor Consumer Staples ETF John Hancock Multifactor Developed International ETF John Hancock Multifactor Emerging Markets ETF John Hancock Multifactor Energy ETF John Hancock Multifactor Financials ETF John Hancock Multifactor Healthcare ETF John Hancock Multifactor Industrials ETF John Hancock Multifactor Large Cap ETF John Hancock Multifactor Materials ETF John Hancock Multifactor Media and John Hancock Multifactor Mid Cap ETF John Hancock Multifactor Small Cap ETF John Hancock Multifactor Technology ETF John Hancock Multifactor Utilities ETF | ENVIRONMENTAL, SOCIAL, AND ESG All Cap Core ESG Core Bond ESG International Equity ESG Large Cap Core CLOSED-END FUNDS Financial Opportunities Hedged Equity & Income Income Securities Trust Investors Trust Preferred Income Preferred Income II Preferred Income III Premium Dividend Tax-Advantaged Dividend Income Tax-Advantaged Global Shareholder Yield |
John Hancock Multifactor ETF shares are bought and sold at market price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Investment Management Distributors LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock Multifactor ETFs.
John Hancock Investment Management
A trusted brand
John Hancock Investment Management is a premier asset manager
representing one of America's most trusted brands, with a heritage of
financial stewardship dating back to 1862. Helping our shareholders
pursue their financial goals is at the core of everything we do. It's why
we support the role of professional financial advice and operate with
the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world's best
managers, along with strong risk-adjusted returns across asset classes.
John Hancock Investment Management Distributors LLC n Member FINRA, SIPC
200 Berkeley Street n Boston, MA 02116-5010 n 800-225-5291 n jhinvestments.com
This report is for the information of the shareholders of John Hancock ESG Large Cap Core Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF1182603 | 467SA 4/20 6/2020 |
John Hancock
ESG International Equity Fund
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the fund's shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the fund or from your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change, and you do not need to take any action. You may elect to receive shareholder reports and other communications electronically by calling John Hancock Investment Management at 800-225-5291 (Class A shares) or 888-972-8696 (Class I and Class R6 shares) or by contacting your financial intermediary.
You may elect to receive all reports in paper, free of charge, at any time. You can inform John Hancock Investment Management or your financial intermediary that you wish to continue receiving paper copies of your shareholder reports by following the instructions listed above. Your election to receive reports in paper will apply to all funds held with John Hancock Investment Management or your financial intermediary.
A message to shareholders
Dear shareholder,
Global financial markets were on pace to deliver strong returns during the 6 months ended April 30, 2020, until heightened fears over the coronavirus (COVID-19) sent markets tumbling during the latter half of February and early March.In response to the sell-off, governments and banks in some of the hardest hit areas throughout the world enacted policies and stimulus efforts designed to reignite their respective economies. While these measures helped lift equity and fixed-income markets in the United States during the final six weeks of the period, results were mixed in other areas of the world.
The continued spread of COVID-19, trade disputes, rising unemployment, and other geopolitical tensions may continue to create uncertainty among businesses and investors. Your financial professional can helpposition your portfolio so that it's sufficiently diversified to seek to meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I'd like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you've placed in us.
Sincerely,
Andrew G. Arnott
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO's views as of this report's period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
ESG International Equity Fund
INVESTMENT OBJECTIVE
The fund seeks long-term capital appreciation.
AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2020 (%)
The MSCI All Country World ex USA Index is a free-float adjusted market capitalization weighted index designed to measure the equity market performance of developed markets and emerging markets, excluding the United States.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower. Since inception returns for the Morningstar fund category average are not available.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus. The fund recently experienced negative short-term performance due to market volatility associated with the COVID-19 pandemic.
SECTOR COMPOSITION AS OF 4/30/2020 (%)
TOP 10 HOLDINGS AS OF 4/30/2020 (%)
Roche Holding AG | 3.6 |
Alibaba Group Holding, Ltd., ADR | 3.4 |
Unilever NV | 2.3 |
Novartis AG | 2.2 |
HDFC Bank, Ltd., ADR | 2.2 |
Yandex NV, Class A | 2.1 |
Naspers, Ltd., N Shares | 2.1 |
Ping An Insurance Group Company of China, Ltd., H Shares | 2.1 |
Hoya Corp. | 2.0 |
Kerry Group PLC, Class A | 2.0 |
TOTAL | 24.0 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
TOP 10 COUNTRIES AS OF 4/30/2020 (%)
Japan | 13.6 |
United Kingdom | 12.1 |
Germany | 8.6 |
China | 7.9 |
France | 6.4 |
Switzerland | 5.8 |
Denmark | 4.8 |
South Korea | 3.6 |
Indonesia | 3.4 |
Sweden | 3.3 |
TOTAL | 69.5 |
As a percentage of net assets. | |
Cash and cash equivalents are not included. |
A note about risks
The fund may be subject to various risks as described in the fund's prospectus. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange trading suspensions and closures, impact the ability to complete redemptions, and affect fund performance. For example, the novel coronavirus disease (COVID-19) has resulted in significant disruptions to global business activity. The impact of a health crisis and other epidemics and pandemics that may arise in the future, could affect the global economy in ways that cannot necessarily be foreseen at the present time. A health crisis may exacerbate other pre-existing political, social, and economic risks. Any such impact could adversely affect the funds' performance, resulting in losses to your investment. For more information, please refer to the "Principal risks" section of the prospectus.
TOTAL RETURNS FOR THE PERIOD ENDED APRIL 30, 2020
Average annual total returns (%) with maximum sales charge | Cumulative total returns (%) with maximum sales charge | ||||||
1-year | Since inception1 | 6-month | Since inception1 | ||||
Class A | -13.51 | 3.78 | -14.09 | 13.37 | |||
Class I2 | -8.73 | 5.65 | -9.44 | 20.39 | |||
Class R62 | -8.64 | 5.74 | -9.42 | 20.74 | |||
Index† | -11.51 | 2.35 | -13.22 | 8.17 |
Performance figures assume all distributions have been reinvested. Figures reflect the maximum sales charge on Class A shares of 5%. Sales charges are not applicable to Class I and Class R6 shares.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until February 28, 2021 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Class A | Class I | Class R6 | |
Gross (%) | 1.62 | 1.37 | 1.26 |
Net (%) | 1.28 | 1.03 | 0.92 |
Please refer to the most recent prospectus and annual report for more information on expenses and any expense limitation arrangements for each class.
The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.
The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.
† | Index is the MSCI All Country World ex USA Index. |
See the following page for footnotes.
This chart and table show what happened to a hypothetical $10,000 investment in John Hancock ESG International Equity Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in the MSCI ACWI ex USA Index.
�� | ||||
Start date | With maximum sales charge ($) | Without sales charge ($) | Index ($) | |
Class I2 | 12-14-16 | 12,039 | 12,039 | 10,817 |
Class R62 | 12-14-16 | 12,074 | 12,074 | 10,817 |
The MSCI All Country World ex USA Index is a free-float adjusted market capitalization weighted index designed to measure the equity market performance of developed markets and emerging markets, excluding the United States.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Footnotes related to performance pages
1 | From 12-14-16. |
2 | For certain types of investors, as described in the fund's prospectus. |
Your expenses |
SEMIANNUAL REPORT | JOHN HANCOCK ESG INTERNATIONAL EQUITY FUND | 7 |
Account value on 11-1-2019 | Ending value on 4-30-2020 | Expenses paid during period ended 4-30-20201 | Annualized expense ratio | ||
Class A | Actual expenses/actual returns | $1,000.00 | $904.20 | $6.11 | 1.29% |
Hypothetical example | 1,000.00 | 1,018.40 | 6.47 | 1.29% | |
Class I | Actual expenses/actual returns | 1,000.00 | 905.60 | 4.93 | 1.04% |
Hypothetical example | 1,000.00 | 1,019.70 | 5.22 | 1.04% | |
Class R6 | Actual expenses/actual returns | 1,000.00 | 905.80 | 4.36 | 0.92% |
Hypothetical example | 1,000.00 | 1,020.30 | 4.62 | 0.92% |
1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period). |
8 | JOHN HANCOCK ESG INTERNATIONAL EQUITY FUND | SEMIANNUAL REPORT |
Fund’s investments |
Shares | Value | ||||
Common stocks 97.7% | $47,336,461 | ||||
(Cost $45,866,283) | |||||
Australia 1.3% | 631,360 | ||||
Macquarie Group, Ltd. | 9,531 | 631,360 | |||
Belgium 1.5% | 717,592 | ||||
Umicore SA | 16,557 | 717,592 | |||
Brazil 2.3% | 1,122,245 | ||||
Itau Unibanco Holding SA, ADR | 170,198 | 716,534 | |||
Pagseguro Digital, Ltd., Class A (A) | 16,017 | 405,711 | |||
Canada 1.6% | 772,240 | ||||
Canadian Pacific Railway, Ltd. | 3,397 | 772,240 | |||
China 7.9% | 3,845,083 | ||||
Alibaba Group Holding, Ltd., ADR (A) | 8,049 | 1,631,288 | |||
BYD Company, Ltd., H Shares | 102,500 | 637,433 | |||
Ping An Insurance Group Company of China, Ltd., H Shares | 98,800 | 1,005,415 | |||
Sunny Optical Technology Group Company, Ltd. | 41,000 | 570,947 | |||
Denmark 4.8% | 2,325,961 | ||||
Novo Nordisk A/S, B Shares | 14,542 | 927,635 | |||
Orsted A/S (B) | 6,743 | 681,113 | |||
Vestas Wind Systems A/S | 8,352 | 717,213 | |||
Finland 1.1% | 543,654 | ||||
Sampo OYJ, A Shares | 16,401 | 543,654 | |||
France 6.4% | 3,106,209 | ||||
Air Liquide SA | 4,898 | 622,315 | |||
AXA SA | 32,307 | 574,308 | |||
BioMerieux | 5,190 | 641,248 | |||
Dassault Systemes SE | 2,468 | 361,491 | |||
Schneider Electric SE | 9,813 | 906,847 | |||
Germany 8.6% | 4,152,283 | ||||
adidas AG | 1,726 | 395,139 | |||
Bayerische Motoren Werke AG | 7,804 | 459,074 | |||
Deutsche Telekom AG | 54,915 | 802,840 | |||
Infineon Technologies AG | 39,884 | 741,484 | |||
SAP SE | 7,418 | 883,541 | |||
Vonovia SE | 17,598 | 870,205 | |||
Hong Kong 3.3% | 1,579,644 | ||||
AIA Group, Ltd. | 74,600 | 684,662 | |||
Beijing Enterprises Water Group, Ltd. (A) | 999,840 | 387,990 |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ESG INTERNATIONAL EQUITY FUND | 9 |
Shares | Value | ||||
Hong Kong (continued) | |||||
Hang Lung Properties, Ltd. | 237,000 | $506,992 | |||
India 2.2% | 1,061,035 | ||||
HDFC Bank, Ltd., ADR | 24,476 | 1,061,035 | |||
Indonesia 3.4% | 1,667,248 | ||||
Bank Rakyat Indonesia Persero Tbk PT | 4,299,297 | 781,988 | |||
Kalbe Farma Tbk PT | 9,163,800 | 885,260 | |||
Ireland 2.0% | 951,946 | ||||
Kerry Group PLC, Class A | 8,270 | 951,946 | |||
Japan 13.6% | 6,576,120 | ||||
Daikin Industries, Ltd. | 7,300 | 936,816 | |||
Hoya Corp. | 10,820 | 986,712 | |||
Keyence Corp. | 1,600 | 571,219 | |||
Nippon Telegraph & Telephone Corp. | 19,900 | 453,195 | |||
ORIX Corp. | 57,000 | 670,747 | |||
Panasonic Corp. | 43,900 | 334,649 | |||
Recruit Holdings Company, Ltd. | 17,399 | 507,550 | |||
Shimano, Inc. | 4,000 | 589,423 | |||
Shiseido Company, Ltd. | 9,900 | 582,053 | |||
Sundrug Company, Ltd. | 16,600 | 568,359 | |||
Yamaha Corp. | 9,300 | 375,397 | |||
Netherlands 2.3% | 1,101,361 | ||||
ASML Holding NV | 1,656 | 483,696 | |||
ING Groep NV | 110,242 | 617,665 | |||
Russia 2.1% | 1,043,937 | ||||
Yandex NV, Class A (A) | 27,632 | 1,043,937 | |||
South Africa 2.1% | 1,011,404 | ||||
Naspers, Ltd., N Shares | 6,498 | 1,011,404 | |||
South Korea 3.6% | 1,731,885 | ||||
LG Household & Health Care, Ltd. | 745 | 844,827 | |||
SK Hynix, Inc. | 12,890 | 887,058 | |||
Spain 1.2% | 606,845 | ||||
Red Electrica Corp. SA | 34,476 | 606,845 | |||
Sweden 3.3% | 1,612,807 | ||||
Atlas Copco AB, B Shares | 22,648 | 700,545 | |||
Essity AB, B Shares (A) | 28,162 | 912,262 | |||
Switzerland 5.8% | 2,816,024 | ||||
Novartis AG | 12,453 | 1,062,720 | |||
Roche Holding AG | 5,063 | 1,753,304 |
10 | JOHN HANCOCK ESG INTERNATIONAL EQUITY FUND | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Shares | Value | ||||
Taiwan 2.9% | $1,407,940 | ||||
Delta Electronics, Inc. | 114,000 | 531,720 | |||
Taiwan Semiconductor Manufacturing Company, Ltd., ADR | 16,492 | 876,220 | |||
Thailand 2.3% | 1,097,433 | ||||
Advanced Info Service PCL | 90,500 | 551,226 | |||
Kasikornbank PCL | 209,400 | 546,207 | |||
United Kingdom 12.1% | 5,854,205 | ||||
Croda International PLC | 11,312 | 693,645 | |||
Dechra Pharmaceuticals PLC | 14,473 | 503,776 | |||
DS Smith PLC | 153,370 | 601,354 | |||
Ferguson PLC | 12,559 | 905,528 | |||
GlaxoSmithKline PLC, ADR | 20,230 | 851,076 | |||
Reckitt Benckiser Group PLC | 7,950 | 662,230 | |||
Spirax-Sarco Engineering PLC | 4,776 | 522,680 | |||
Unilever NV | 22,368 | 1,113,916 |
Total investments (Cost $45,866,283) 97.7% | $47,336,461 | ||||
Other assets and liabilities, net 2.3% | 1,103,705 | ||||
Total net assets 100.0% | $48,440,166 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
Security Abbreviations and Legend | |
ADR | American Depositary Receipt |
(A) | Non-income producing security. |
(B) | 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. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ESG INTERNATIONAL EQUITY FUND | 11 |
Financial statements |
Assets | |
Unaffiliated investments, at value (Cost $45,866,283) | $47,336,461 |
Foreign currency, at value (Cost $7,270) | 7,270 |
Dividends and interest receivable | 187,103 |
Receivable for fund shares sold | 15,231 |
Receivable for investments sold | 1,545,109 |
Receivable from affiliates | 499 |
Other assets | 35,941 |
Total assets | 49,127,614 |
Liabilities | |
Due to custodian | 165,364 |
Payable for investments purchased | 458,325 |
Payable to affiliates | |
Accounting and legal services fees | 3,253 |
Transfer agent fees | 5,142 |
Trustees' fees | 234 |
Other liabilities and accrued expenses | 55,130 |
Total liabilities | 687,448 |
Net assets | $48,440,166 |
Net assets consist of | |
Paid-in capital | $50,056,067 |
Total distributable earnings (loss) | (1,615,901) |
Net assets | $48,440,166 |
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 ($5,232,027 ÷ 461,521 shares)1 | $11.34 |
Class I ($42,707,607 ÷ 3,763,104 shares) | $11.35 |
Class R6 ($500,532 ÷ 44,087 shares) | $11.35 |
Maximum offering price per share | |
Class A (net asset value per share ÷ 95%)2 | $11.94 |
1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
12 | JOHN HANCOCK ESG International Equity Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Investment income | |
Dividends | $483,174 |
Interest | 6,188 |
Less foreign taxes withheld | (57,478) |
Total investment income | 431,884 |
Expenses | |
Investment management fees | 245,043 |
Distribution and service fees | 8,423 |
Accounting and legal services fees | 5,168 |
Transfer agent fees | 35,114 |
Trustees' fees | 657 |
Custodian fees | 23,880 |
State registration fees | 25,704 |
Printing and postage | 8,842 |
Professional fees | 32,064 |
Other | 7,635 |
Total expenses | 392,530 |
Less expense reductions | (86,445) |
Net expenses | 306,085 |
Net investment income | 125,799 |
Realized and unrealized gain (loss) | |
Net realized gain (loss) on | |
Unaffiliated investments and foreign currency transactions | (2,349,425) |
(2,349,425) | |
Change in net unrealized appreciation (depreciation) of | |
Unaffiliated investments and translation of assets and liabilities in foreign currencies | (3,564,174) |
(3,564,174) | |
Net realized and unrealized loss | (5,913,599) |
Decrease in net assets from operations | $(5,787,800) |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ESG International Equity Fund | 13 |
Six months ended 4-30-20 (unaudited) | Year ended 10-31-19 | |
Increase (decrease) in net assets | ||
From operations | ||
Net investment income | $125,799 | $1,291,431 |
Net realized loss | (2,349,425) | (774,115) |
Change in net unrealized appreciation (depreciation) | (3,564,174) | 6,480,810 |
Increase (decrease) in net assets resulting from operations | (5,787,800) | 6,998,126 |
Distributions to shareholders | ||
From earnings | ||
Class A | (134,601) | (154,779) |
Class I | (1,098,472) | (1,280,775) |
Class R6 | (53,099) | (50,231) |
Total distributions | (1,286,172) | (1,485,785) |
From fund share transactions | (3,799,425) | (2,269,623) |
Total increase (decrease) | (10,873,397) | 3,242,718 |
Net assets | ||
Beginning of period | 59,313,563 | 56,070,845 |
End of period | $48,440,166 | $59,313,563 |
14 | JOHN HANCOCK ESG International Equity Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Financial highlights |
CLASS A SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-172 |
Per share operating performance | ||||
Net asset value, beginning of period | $12.78 | $11.63 | $12.96 | $10.00 |
Net investment income3 | 0.014 | 0.26 | 0.14 | 0.13 |
Net realized and unrealized gain (loss) on investments | (1.20) | 1.17 | (1.37) | 2.83 |
Total from investment operations | (1.19) | 1.43 | (1.23) | 2.96 |
Less distributions | ||||
From net investment income | (0.25) | (0.11) | (0.04) | — |
From net realized gain | — | (0.17) | (0.06) | — |
Total distributions | (0.25) | (0.28) | (0.10) | — |
Net asset value, end of period | $11.34 | $12.78 | $11.63 | $12.96 |
Total return (%)5,6 | (9.58)7 | 12.62 | (9.55) | 29.607 |
Ratios and supplemental data | ||||
Net assets, end of period (in millions) | $5 | $7 | $7 | $6 |
Ratios (as a percentage of average net assets): | ||||
Expenses before reductions | 1.598 | 1.62 | 1.62 | 2.118 |
Expenses including reductions | 1.298 | 1.28 | 1.27 | 1.288 |
Net investment income | 0.224,8 | 2.12 | 1.06 | 1.278 |
Portfolio turnover (%) | 18 | 32 | 19 | 10 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 12-14-16 (commencement of operations) to 10-31-17. |
3 | Based on average daily shares outstanding. |
4 | Net investment income is affected by the timing and frequency of the declaration of dividends by the securities in which the fund invests. |
5 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
6 | Does not reflect the effect of sales charges, if any. |
7 | Not annualized. |
8 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ESG International Equity Fund | 15 |
CLASS I SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-172 |
Per share operating performance | ||||
Net asset value, beginning of period | $12.80 | $11.66 | $13.00 | $10.00 |
Net investment income3 | 0.034 | 0.28 | 0.17 | 0.11 |
Net realized and unrealized gain (loss) on investments | (1.20) | 1.17 | (1.38) | 2.89 |
Total from investment operations | (1.17) | 1.45 | (1.21) | 3.00 |
Less distributions | ||||
From net investment income | (0.28) | (0.14) | (0.07) | — |
From net realized gain | — | (0.17) | (0.06) | — |
Total distributions | (0.28) | (0.31) | (0.13) | — |
Net asset value, end of period | $11.35 | $12.80 | $11.66 | $13.00 |
Total return (%)5 | (9.44)6 | 12.84 | (9.37) | 30.006 |
Ratios and supplemental data | ||||
Net assets, end of period (in millions) | $43 | $50 | $48 | $48 |
Ratios (as a percentage of average net assets): | ||||
Expenses before reductions | 1.347 | 1.38 | 1.38 | 1.857 |
Expenses including reductions | 1.047 | 1.04 | 1.03 | 1.027 |
Net investment income | 0.474,7 | 2.31 | 1.28 | 1.077 |
Portfolio turnover (%) | 18 | 32 | 19 | 10 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 12-14-16 (commencement of operations) to 10-31-17. |
3 | Based on average daily shares outstanding. |
4 | Net investment income is affected by the timing and frequency of the declaration of dividends by the securities in which the fund invests. |
5 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
6 | Not annualized. |
7 | Annualized. |
16 | JOHN HANCOCK ESG International Equity Fund | SEMIANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
CLASS R6 SHARES Period ended | 4-30-201 | 10-31-19 | 10-31-18 | 10-31-172 |
Per share operating performance | ||||
Net asset value, beginning of period | $12.81 | $11.67 | $13.00 | $10.00 |
Net investment income3 | 0.024 | 0.31 | 0.18 | 0.17 |
Net realized and unrealized gain (loss) on investments | (1.19) | 1.15 | (1.37) | 2.83 |
Total from investment operations | (1.17) | 1.46 | (1.19) | 3.00 |
Less distributions | ||||
From net investment income | (0.29) | (0.15) | (0.08) | — |
From net realized gain | — | (0.17) | (0.06) | — |
Total distributions | (0.29) | (0.32) | (0.14) | — |
Net asset value, end of period | $11.35 | $12.81 | $11.67 | $13.00 |
Total return (%)5 | (9.42)6 | 12.95 | (9.21) | 30.006 |
Ratios and supplemental data | ||||
Net assets, end of period (in millions) | $1 | $2 | $2 | $2 |
Ratios (as a percentage of average net assets): | ||||
Expenses before reductions | 1.227 | 1.27 | 1.28 | 1.757 |
Expenses including reductions | 0.927 | 0.92 | 0.92 | 0.937 |
Net investment income | 0.284,7 | 2.54 | 1.38 | 1.647 |
Portfolio turnover (%) | 18 | 32 | 19 | 10 |
1 | Six months ended 4-30-20. Unaudited. |
2 | Period from 12-14-16 (commencement of operations) to 10-31-17. |
3 | Based on average daily shares outstanding. |
4 | Net investment income is affected by the timing and frequency of the declaration of dividends by the securities in which the fund invests. |
5 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
6 | Not annualized. |
7 | Annualized. |
SEE NOTES TO FINANCIAL STATEMENTS | SEMIANNUAL REPORT | JOHN HANCOCK ESG International Equity Fund | 17 |
Notes to financial statements (unaudited) |
18 | JOHN HANCOCK ESG International Equity Fund | SEMIANNUAL REPORT |
Total value at 4-30-20 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Australia | $631,360 | — | $631,360 | — |
Belgium | 717,592 | — | 717,592 | — |
Brazil | 1,122,245 | $1,122,245 | — | — |
Canada | 772,240 | 772,240 | — | — |
China | 3,845,083 | 1,631,288 | 2,213,795 | — |
Denmark | 2,325,961 | — | 2,325,961 | — |
Finland | 543,654 | — | 543,654 | — |
France | 3,106,209 | — | 3,106,209 | — |
Germany | 4,152,283 | — | 4,152,283 | — |
Hong Kong | 1,579,644 | — | 1,579,644 | — |
India | 1,061,035 | 1,061,035 | — | — |
Indonesia | 1,667,248 | — | 1,667,248 | — |
Ireland | 951,946 | — | 951,946 | — |
Japan | 6,576,120 | — | 6,576,120 | — |
Netherlands | 1,101,361 | — | 1,101,361 | — |
Russia | 1,043,937 | 1,043,937 | — | — |
South Africa | 1,011,404 | — | 1,011,404 | — |
South Korea | 1,731,885 | — | 1,731,885 | — |
Spain | 606,845 | — | 606,845 | — |
Sweden | 1,612,807 | — | 1,612,807 | — |
Switzerland | 2,816,024 | — | 2,816,024 | — |
Taiwan | 1,407,940 | 876,220 | 531,720 | — |
Thailand | 1,097,433 | — | 1,097,433 | — |
United Kingdom | 5,854,205 | 851,076 | 5,003,129 | — |
Total investments in securities | $47,336,461 | $7,358,041 | $39,978,420 | — |
SEMIANNUAL REPORT | JOHN HANCOCK ESG International Equity Fund | 19 |
20 | JOHN HANCOCK ESG International Equity Fund | SEMIANNUAL REPORT |
SEMIANNUAL REPORT | JOHN HANCOCK ESG International Equity Fund | 21 |
Class | Expense reduction |
Class A | $10,112 |
Class I | 73,633 |
Class | Expense reduction |
Class R6 | $2,700 |
Total | $86,445 |
Class | Rule 12b-1 Fee |
Class A | 0.25% |
22 | JOHN HANCOCK ESG International Equity Fund | SEMIANNUAL REPORT |
Class | Distribution and service fees | Transfer agent fees |
Class A | $8,423 | $4,227 |
Class I | — | 30,763 |
Class R6 | — | 124 |
Total | $8,423 | $35,114 |
Borrower or Lender | Weighted Average Loan Balance | Days Outstanding | Weighted Average Interest Rate | Interest Income (Expense) |
Borrower | $1,100,000 | 1 | 0.525% | $(16) |
SEMIANNUAL REPORT | JOHN HANCOCK ESG International Equity Fund | 23 |
Six Months Ended 4-30-20 | Year Ended 10-31-19 | |||
Shares | Amount | Shares | Amount | |
Class A shares | ||||
Sold | 22,915 | $291,844 | 34,093 | $419,088 |
Distributions reinvested | 1,712 | 22,465 | 2,648 | 29,607 |
Repurchased | (104,379) | (1,190,151) | (57,893) | (682,047) |
Net decrease | (79,752) | $(875,842) | (21,152) | $(233,352) |
Class I shares | ||||
Sold | 263,322 | $3,174,033 | 674,003 | $7,977,268 |
Distributions reinvested | 19,587 | 256,978 | 30,644 | 342,595 |
Repurchased | (431,009) | (4,737,115) | (888,371) | (10,704,837) |
Net decrease | (148,100) | $(1,306,104) | (183,724) | $(2,384,974) |
Class R6 shares | ||||
Sold | 13,720 | $172,915 | 34,126 | $433,072 |
Distributions reinvested | 706 | 9,269 | 142 | 1,589 |
Repurchased | (151,610) | (1,799,663) | (6,792) | (85,958) |
Net increase (decrease) | (137,184) | $(1,617,479) | 27,476 | $348,703 |
Total net decrease | (365,036) | $(3,799,425) | (177,400) | $(2,269,623) |
24 | JOHN HANCOCK ESG International Equity Fund | SEMIANNUAL REPORT |
STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT
Operation of the Liquidity Risk Management Program
This section describes operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock ESG International Equity Fund, subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Fund's subadvisor, Boston Common Asset Management, LLC (the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.
The Committee holds monthly meetings to: (1) review the day-to-day operations of the LRMP; (2) review and approve month end liquidity classifications; (3) review quarterly testing and determinations, as applicable; and (4) review other LRMP related material. The Committee also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Committee may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity and valuation issues.
The Committee provided the Board at a meeting held on March 15-17, 2020 with a written report which addressed the Committee's assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period December 1, 2018 through December 31, 2019, included an assessment of important aspects of the LRMP including, but not limited to:
• Operation of the Fund's Redemption-In-Kind Procedures;
• Highly Liquid Investment Minimum (HLIM) determination;
• Compliance with the 15% limit on illiquid investments;
• Reasonably Anticipated Trade Size (RATS) determination;
• Security-level liquidity classifications; and
• Liquidity risk assessment.
The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee's actions to address such matters.
Redemption-In-Kind Procedures
Rule 22e-4 requires any fund that engages in or reserves the right to engage in in-kind redemptions to adopt and implement written policies and procedures regarding in-kind redemptions as part of the management of its liquidity risk. These procedures address the process for redeeming in kind, as well as the circumstances under which the Fund would consider redeeming in kind. Anticipated large redemption activity will be evaluated to identify situations where redeeming in securities instead of cash may be appropriate.
As part of its annual assessment of the LRMP, the Committee reviewed the implementation and operation of the Redemption-In-Kind Procedures and determined they are operating in a manner that such procedures are adequate and effective to manage in-kind redemptions on behalf of the Fund as part of the LRMP.
Highly Liquid Investment Minimum determination
The Committee uses an HLIM model to determine a Fund's HLIM. This process incorporates the Fund's investment strategy, historical redemptions, liquidity classification rollup percentages and cash balances, redemption policy, access to funding sources, distribution channels and client concentrations. If the Fund falls below its established HLIM for a period greater than 7 consecutive calendar days, the Committee prepares a report to the Board within one business day following the seventh consecutive calendar day with an explanation of how the Fund plans to restore its HLIM within a reasonable period of time.
Based on the HLIM model, the Committee has determined that the Fund qualifies as a Primarily Highly Liquid Fund (PHLF). It is therefore not required to establish a HLIM. The Fund is tested quarterly to confirm its PHLF status.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to HLIM and PHLF determinations, and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Compliance with the 15% limit on illiquid investments
Rule 22e-4 sets an aggregate illiquid investment limit of 15% for a fund. Funds are prohibited from acquiring an illiquid investment if this results in greater than 15% of its net assets being classified as illiquid. When applying this limit, the Committee defines "illiquid investment" to mean any investment that the Fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. If a 15% illiquid investment limit breach occurs for longer than 1 business day, the Fund is required to notify the Board and provide a plan on how to bring illiquid investments within the 15% threshold, and after 7 days confidentially notify the Securities and Exchange Commission (the SEC).
In February 2019, as a result of extended security markets closures in connection with the Chinese New Year in certain countries, the SEC released guidance, and the Committee approved and adopted an Extended Market Holiday Policy to plan for and monitor known Extended Market Holidays (defined as all expected market holiday closures spanning four or more calendar days).
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to the 15% illiquid investment limit and determined such policies and procedures are operating in a manner that is adequate and effective as part of the LMRP.
Reasonably Anticipated Trade Size determination
In order to assess the liquidity risk of a Fund, the Committee considers the impact on the Fund that redemptions of a RATS would have under both normal and reasonably foreseeable stressed conditions. Modelling the Fund's RATS requires quantifying cash flow volatility and analyzing distribution channel concentration and redemption risk. The model is designed to estimate the amount of assets that the Fund could reasonably anticipate trading on a given day, during both normal and reasonably foreseeable stressed conditions, to satisfy redemption requests.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to RATS determinations and determined that such policies and procedures are operating in a manner that is adequate and effective at making RATS determinations as part of the LRMP.
Security-level liquidity classifications
When classifying the liquidity of portfolio securities, the Fund adheres to the liquidity classification procedures established by the Advisor. In assigning a liquidity classification to Fund portfolio holdings, the following key inputs, among others, are considered: the Fund's RATS, feedback from the applicable Subadvisor on market-, trading- and investment-specific considerations, an assessment of current market conditions and fund portfolio holdings, and a value impact standard. The Subadvisor also provides position-level data to the Committee for use in monthly classification reconciliation in order to identify any classifications that may need to be changed as a result of the above considerations.
As part of its annual assessment of the LRMP, the Committee reviewed the policies and procedures in place with respect to security-level liquidity classifications and determined that such policies and procedures are operating in a manner that is adequate and effective as part of the LRMP.
Liquidity risk assessment
The Committee periodically reviews and assesses, the Fund's liquidity risk, including its investment strategy and liquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions (including whether the investment strategy is appropriate for an open-end fund, the extent to which the strategy involves a relatively concentrated portfolio or large positions in particular issuers, and the use of borrowings for investment purposes and derivatives), cash flow analysis during both normal and reasonably foreseeable stressed conditions, and holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.
The Committee also monitors global events, such as the COVID-19 Coronavirus, that could impact the markets and liquidity of portfolio investments and their classifications.
As part of its annual assessment of the LRMP, the Committee reviewed Fund-Level Liquidity Risk Assessment Reports for each of the Funds and determined that the investment strategy for each Fund continues to be appropriate for an open-ended structure.
Adequacy and Effectiveness
Based on the review and assessment conducted by the Committee, the Committee has determined that the LRMP has been implemented, and is operating in a manner that is adequate and effective at assessing and managing the liquidity risk of each Fund.
Trustees Hassell H. McClellan,Chairperson Officers Andrew G. Arnott Francis V. Knox, Jr. Charles A. Rizzo Salvatore Schiavone Christopher (Kit) Sechler | Investment advisor John Hancock Investment Management LLC Subadvisor Boston Common Asset Management, LLC Portfolio Managers Praveen S. Abichandani, CFA Principal distributor John Hancock Investment Management Distributors LLC Custodian Citibank, N.A. Transfer agent John Hancock Signature Services, Inc. Legal counsel K&L Gates LLP |
* Member of the Audit Committee
† Non-Independent Trustee
The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund's holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund's Form N-PORT filings are available on our website and the SEC's website, sec.gov.
We make this information on your fund, as well asmonthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
You can also contact us: | |||
800-225-5291 jhinvestments.com | Regular mail: John Hancock Signature Services, Inc. | Express mail: John Hancock Signature Services, Inc. |
John Hancock family of funds
DOMESTIC EQUITY FUNDS Blue Chip Growth Classic Value Disciplined Value Disciplined Value Mid Cap Equity Income Financial Industries Fundamental All Cap Core Fundamental Large Cap Core New Opportunities Regional Bank Small Cap Core Small Cap Growth Small Cap Value U.S. Global Leaders Growth U.S. Quality Growth GLOBAL AND INTERNATIONAL EQUITY FUNDS Disciplined Value International Emerging Markets Emerging Markets Equity Fundamental Global Franchise Global Equity Global Shareholder Yield Global Thematic Opportunities International Dynamic Growth International Growth International Small Company | INCOME FUNDS Bond California Tax-Free Income Emerging Markets Debt Floating Rate Income Government Income High Yield High Yield Municipal Bond Income Investment Grade Bond Money Market Short Duration Bond Short Duration Credit Opportunities Strategic Income Opportunities Tax-Free Bond ALTERNATIVE AND SPECIALTY FUNDS Absolute Return Currency Alternative Asset Allocation Alternative Risk Premia Diversified Macro Infrastructure Multi-Asset Absolute Return Seaport Long/Short |
A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
ASSET ALLOCATION Balanced Multi-Asset High Income Multi-Index Lifetime Portfolios Multi-Index Preservation Portfolios Multimanager Lifestyle Portfolios Multimanager Lifetime Portfolios Retirement Income 2040 EXCHANGE-TRADED FUNDS John Hancock Multifactor Consumer Discretionary ETF John Hancock Multifactor Consumer Staples ETF John Hancock Multifactor Developed International ETF John Hancock Multifactor Emerging Markets ETF John Hancock Multifactor Energy ETF John Hancock Multifactor Financials ETF John Hancock Multifactor Healthcare ETF John Hancock Multifactor Industrials ETF John Hancock Multifactor Large Cap ETF John Hancock Multifactor Materials ETF John Hancock Multifactor Media and John Hancock Multifactor Mid Cap ETF John Hancock Multifactor Small Cap ETF John Hancock Multifactor Technology ETF John Hancock Multifactor Utilities ETF | ENVIRONMENTAL, SOCIAL, AND ESG All Cap Core ESG Core Bond ESG International Equity ESG Large Cap Core CLOSED-END FUNDS Financial Opportunities Hedged Equity & Income Income Securities Trust Investors Trust Preferred Income Preferred Income II Preferred Income III Premium Dividend Tax-Advantaged Dividend Income Tax-Advantaged Global Shareholder Yield |
John Hancock Multifactor ETF shares are bought and sold at market price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Investment Management Distributors LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock Multifactor ETFs.
John Hancock Investment Management
A trusted brand
John Hancock Investment Management is a premier asset manager
representing one of America's most trusted brands, with a heritage of
financial stewardship dating back to 1862. Helping our shareholders
pursue their financial goals is at the core of everything we do. It's why
we support the role of professional financial advice and operate with
the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world's best
managers, along with strong risk-adjusted returns across asset classes.
John Hancock Investment Management Distributors LLC n Member FINRA, SIPC
200 Berkeley Street n Boston, MA 02116-5010 n 800-225-5291 n jhinvestments.com
This report is for the information of the shareholders of John Hancock ESG International Equity Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
MF1182602 | 469SA 4/20 6/2020 |
ITEM 2. CODE OF ETHICS.
Not applicable at this time.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Not applicable at this time.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
Not applicable at this time.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
Not applicable at this time.
ITEM 6. SCHEDULE OF INVESTMENTS.
(a) Not applicable.
(b) Not applicable.
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
Not applicable.
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
The registrant has adopted procedures by which shareholders may recommend nominees to the registrant's Board of Trustees. A copy of the procedures is filed as an exhibit to this Form N-CSR. See attached “John Hancock Funds – Nominating, Governance and Administration Committee Charter.”
ITEM 11. CONTROLS AND PROCEDURES.
(a) Based upon their evaluation of the registrant's disclosure controls and procedures as conducted within 90 days of the filing date of this Form N-CSR, the registrant's principal executive officer and principal financial officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.
(b) There were no changes in the registrant's internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.: Not applicable.
ITEM 13. EXHIBITS.
(a) Separate certifications for the registrant'sprincipal executive officer andprincipal financial officer, as required by Section 302 of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the Investment Company Act of 1940, are attached.
(c)(1) Submission of Matters to a Vote of Security Holders is attached. See attached “John Hancock Funds – Nominating, Governance and Administration Committee Charter.”
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 Investment Trust
By: | /s/ Andrew Arnott |
Andrew Arnott | |
President | |
Date: | June 11, 2020 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ Andrew Arnott |
Andrew Arnott | |
President | |
Date: | June 11, 2020 |
By: | /s/ Charles A. Rizzo |
Charles A. Rizzo | |
Chief Financial Officer | |
Date: | June 11, 2020 |