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TheStreet Open House

John Hancock Investments Reduces Expenses Across A Range Of Mutual Funds

BOSTON, Feb. 3, 2014 /PRNewswire/ -- John Hancock Investments is reducing sales charges for Class A shares on 16 fixed-income funds, including the elimination of the front-end sales charges on the John Hancock Floating Rate Income Fund (Class A: JFIAX) and the John Hancock Short Duration Credit Opportunities Fund (Class A: JMBAX) for investments of $250,000 or more.  John Hancock Investments is also modifying the CDSC schedule for Class A shares of John Hancock Floating Rate Income Fund and John Hancock Short Duration Credit Opportunities Fund, as described below. In addition, the firm is contractually lowering expenses for nearly all of their funds with Class R6 institutional share classes.  These expense reductions and modifications are effective immediately.

"We're pleased to open the New Year by continuing our program of fund expense reductions, this time on nearly our entire fixed-income fund lineup. These latest fee cuts will help put more of our shareholders' investment dollars to work more quickly," said Andrew G. Arnott, President & CEO. "John Hancock Investments is committed to delivering real investment value for our shareholders, because we know the only way we can be successful as asset managers is if our shareholders are successful."

For the John Hancock Floating Rate Fund, initial investments between $250,000 and $499,999 and between $500,000 and $999,999, which had two percent and 1.5 percent sales charges respectively, will now have no sales charge. Initial investments of $1 million or more will continue to carry no sales charge. For investments of less than $100,000 sales charges will drop from three percent to 2.5 percent, and for investments between $100,000 to $249,999 will go from 2.5 percent to two percent.

The John Hancock Short Duration Credit Opportunities Fund will see investments between $250,000 and $499,999 and between $500,000 and $999,999, which had 2.75 percent and two percent sales charges respectively, now have no sales charge. Initial investments of $1 million or more continue to carry no sales charge. For investments of less than $100,000 the sales charge will drop from 4.5 percent to 2.5 percent, and for investments of between $100,000 to $249,999, the fee will drop from 3.75 percent to two percent.

Additionally, as of February 1, 2014, for nearly all R6 shares, an institutional share class that includes qualified 401(k) plans, endowments and foundations, among others, the funds' advisor has agreed to contractually waive and/or reimburse all class-specific expenses.  This expense reduction has been in place on a voluntary basis since January 1, 2014.  As a result, fund expenses have decreased on average by eight basis points, and some funds have decreased up to 20 basis points. 

In addition to the John Hancock Floating Rate and Short Duration Credit Opportunities funds, fourteen other fixed-income funds will see charges for initial investments up to $100,000 decrease from 4.5 percent to four percent.  For investments between $100,000 and $249,000 sales charges will drop from 3.75 percent to 3.50 percent.  Investments between $250,000 and $499,999 will now have a sales charge of 2.50 percent.  Investments between $500,000 and $999,999 will continue to have a sales charge of two percent and investments of $1 million or more will continue to carry no sales charge.

The funds with this new sales charge schedule are as follows:  John Hancock Bond Fund, John Hancock Core High Yield Fund, John Hancock Emerging Markets Debt Fund, John Hancock Global Income Fund, John Hancock Government Income Fund, John Hancock Focused High Yield Fund, John Hancock Income Fund, John Hancock Investment Grade Bond Fund, John Hancock Strategic Income Opportunities Fund, John Hancock California Tax-Free Income Fund, John Hancock High Yield Municipal Bond Fund, John Hancock Massachusetts Tax-Free Income Fund, John Hancock New York Tax-Free Income Fund, John Hancock Tax-Free Bond Fund.

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