JOHN HANCOCK PREFERRED INCOME FUND John Hancock Investment Management, LLC
200 Berkeley Street
Boston, Massachusetts 02116
NEWS
Media Contact: Gordon Haight (617) 572-0034
FOR IMMEDIATE RELEASE
Investor Contact: (800) 225-6020
JOHN HANCOCK TAX-ADVANTAGED GLOBAL SHAREHOLDER
YIELD FUND ANNOUNCE PROPOSED MERGER
BOSTON, MA (April 15, 2024) - John Hancock Tax-Advantaged Global Shareholder Yield Fund (the "Fund"), a closed-end fund managed by John Hancock Investment Management LLC and subadvised by Epoch Investment Partners, announced today that shareholders of the Fund have approved the Fund's reorganization into John Hancock Global Shareholder Yield Fund ("JGYIX") (the proposed reorganization of the Fund into JGYIX is the "Reorganization"). As part of the Reorganization, shareholders of the Fund will receive Class I shares of JGYIX as previously announced.
The Reorganization is currently scheduled to become effective close of business on Friday, April 26, 2024 (the "Closing Date"), subject to satisfaction of certain closing conditions. Former Fund shareholders will hold shares of the JGYIX. Shares of JGYIX may be purchased or redeemed on any business day. To facilitate the Reorganization, all shares of the Fund will cease trading on the New York Stock Exchange as of market close on April 17, 2024.
JGYIX is an open-end fund that is a series of John Hancock Funds III with approximately $1.17 billion in net assets and is also managed by John Hancock Investment Management, the investment adviser of the Fund, and subadvised by Epoch Investment Partners, the sub-adviser of the Fund, using a similar investment strategy.
If you have questions or need additional information, please contact your financial professional or call the John Hancock Investment Management Closed-End Fund Information Line at 1-800-843-0090, Monday through Friday between 8:00 a.m. and 7:00 p.m., Eastern Time.
John Hancock Tax-Advantaged Global Shareholder Yield Fund is a Massachusetts business trust registered as a diversified, closed-end management investment company under the Investment Company Act of 1940, as amended. The Fund's investment objective is to provide total return consisting of a high level of current income and gains and long term capital appreciation. In pursuing its investment objective, the Fund seeks to achieve favorable after-tax returns for its shareholders by seeking to minimize the U.S. federal income tax consequences on income and gains generated by the fund. There can be no assurance that the fund will achieve its investment objective.
This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual future results to differ significantly from the Fund's present expectations or projections indicated in any forward-looking statements. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; leverage risk; valuation risk; interest rate risk; tax risk; the volume of sales and purchase of shares; the continuation of investment advisory, administration and other service arrangements; and other risks discussed in the Fund's filings with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Fund undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Fund's investment objective will be attained.
An investor should consider the Funds investment objectives, risks, charges and expenses carefully before investing.
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 18 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 manulife.com.
SOURCE John Hancock Investment Management
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John Hancock Preferred Income Fund published this content on 15 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 April 2024 20:13:06 UTC.
