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stated
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BOSTON, Nov. 4, 2022
/PRNewswire/ - John Hancock Investment Management, a company of
Manulife Investment Management, today announced recent enhancements
to its municipal fund suite bringing additional flexibility to
advisors and their clients seeking tax-free income opportunities
and potential cost savings to shareholders.
Expense reductions
Effective October 1, 2022, as a
result of reductions to the management fees and contractual expense
caps affecting John Hancock Municipal Opportunities Fund and John
Hancock California Municipal Bond Fund, shareholders will see an
immediate reduction in the funds' overall expense ratios. John
Hancock High Yield Municipal Bond Fund is also affected by a
contractual expense cap reduction. The new fee schedules can be
found in the updated prospectus for each fund at
jhinvestments.com.
Lowered eligibility requirement
for investments in Class A shares
Effective August 1, 2022,
reductions were made to the eligibility requirement for investments
in Class A shares with no front-end sales charge for its municipal
bond funds from $1 million to
$250,000.1 This includes
John Hancock Municipal Opportunities Fund, John Hancock California
Municipal Bond Fund, and John Hancock High Yield Municipal Bond
Fund. John Hancock Short Duration Municipal Opportunities Fund was
launched with a similar $250,000
eligibility. These opportunities are available at all firms where
the funds are approved or available.
John Hancock Short Duration
Municipal Opportunities Fund launch
Effective June 9, 2022, John
Hancock Investment Management announced the launch of John Hancock
Short Duration Municipal Opportunities Fund. The objective of the
fund is to seek total return exempt from federal income tax as is
consistent with preservation of capital.
The municipal suite is subadvised by Manulife Investment
Management (US) LLC, John Hancock Investment Management's
affiliated asset manager. The managers of the municipal suite of
funds are Adam A. Weigold, CFA,
senior portfolio manager, head of municipal bonds and Dennis DiCicco, portfolio manager, municipal
bonds.
1
|
There is a 1.00%
contingent deferred sales charge on any Class A shares upon which a
commission or finder's fee was paid that are sold within 18 months
of purchase.
|
Request a prospectus or summary prospectus from your
financial professional, by visiting jhinvestments.com, or by
calling us at 800-225-5291. The prospectus includes investment
objectives, risks, fees, expenses, and other information that you
should consider carefully before investing.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED
BY ANY GOVERNMENT AGENCY.
This material does not constitute tax, legal, or accounting
advice, is for informational purposes only and is not meant as
investment advice. Please consult your tax or financial
professional before making any investment decisions.
Statements in this press release that are not historical
facts are forward-looking statements as defined by the United States securities laws. You should
exercise caution in interpreting and relying on forward-looking
statements because they are subject to uncertainties and other
factors which are, in some cases, beyond the fund's control and
could cause actual results to differ materially from those set
forth in the forward-looking statements.
About John Hancock Investment
Management
A company of Manulife Investment Management, we serve investors
through a unique multimanager approach, complementing our extensive
in-house capabilities with an unrivaled network of specialized
asset managers, backed by some of the most rigorous investment
oversight in the industry. The result is a diverse lineup of
time-tested investments from a premier asset manager with a
heritage of financial stewardship.
About Manulife Investment
Management
Manulife Investment Management is the global brand for the
global wealth and asset management segment of Manulife Financial
Corporation. We draw on more than a century of financial
stewardship and the full resources of our parent company to serve
individuals, institutions, and retirement plan members worldwide.
Headquartered in Toronto, our
leading capabilities in public and private markets are strengthened
by an investment footprint that spans 19 geographies. We complement
these capabilities by providing access to a network of unaffiliated
asset managers from around the world. We're committed to investing
responsibly across our businesses. We develop innovative global
frameworks for sustainable investing, collaboratively engage with
companies in our securities portfolios, and maintain a high
standard of stewardship where we own and operate assets, and we
believe in supporting financial well-being through our workplace
retirement plans. Today, plan sponsors around the world rely on our
retirement plan administration and investment expertise to help
their employees plan for, save for, and live a better retirement.
Not all offerings are available in all jurisdictions. For
additional information, please visit manulifeim.com.
Manulife, Manulife Investment Management, Stylized M
Design, and Manulife Investment Management & Stylized M Design
are trademarks of The Manufacturers Life Insurance Company and are
used by it, and by its affiliates under license.
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SOURCE John Hancock Investment Management