- Removal of 30% restriction on the investment in securities of foreign issuers and foreign currency securities. The Fund will have no restriction on investing in foreign issuers or foreign currency securities.
- Change the Fund's benchmark from the Russell 3000 Index to the MSCI ACWI Index to align the Fund's benchmark with the increased flexibility to invest in foreign securities.
- Employ a "beta hedge" strategy that consists of selling equity index futures to provide potential downside protection in the event of market decline. The "beta hedge" strategy will replace the use of a put option spread.
- Reduce the utilization of call writing strategy. The Fund will typically limit notional exposure of the index call options to a range between 0% and 50% of the value of the Fund's portfolio securities. Previously, the Fund's use of index call options typically ranged from 40% to 60% of the value of the portfolio, with the ability to write up to 100% of the value of the portfolio.
John Hancock Hedged Equity & Income Fund Announces Investment Policy Changes, Amendment To Managed Distribution Plan And Declaration Of Increased Quarterly Distribution
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