BOSTON, Feb. 1, 2013 /PRNewswire/ -- John Hancock Funds announced that the John Hancock Floating Rate Income Fund (Class A: JFIAX; Class I: JFIIX) recently marked its fifth anniversary. For the five-year period ended December 31, 2012, the fund's Class I shares rank in the top two percent of Morningstar's Bank Loan category; while the Class A shares rank in the top four percent. Sub-advised by Western Asset Management Company (WAMCO), under the supervision of John Hancock Investment Management Services (IMS), the Fund's investment objective is to seek a high level of current income. The Fund's Class A and I shares were both launched on January 2, 2008. The John Hancock Floating Rate Income Fund had approximately $2.8 billion in assets as of December 31, 2012. "We congratulate the portfolio management team at Western Asset Management Company on achieving this milestone with the John Hancock Floating Rate Income Fund," said Andrew G. Arnott, President & CEO, John Hancock Funds. "The Fund offers investors attractive levels of current income, and may provide protection against rising interest rates and an appealing way to diversify their portfolios, as bank loans have historically provided a lower correlation to other traditional fixed-income and equity asset classes. Moreover, the Fund is yet another example of the extensive, ongoing research we perform in order to provide mutual fund investors with access to proven institutional asset management expertise and products that would otherwise not be available to them." Western Asset Management is one of the world's premier fixed-income managers. The portfolio management team for the John Hancock Floating Rate Income Fund includes Portfolio Manager Timothy J. Settle; Stephen Walsh, CIO of WAMCO; and Michael Buchanan, CFA, Head of Credit. The Fund invests primarily in floating rate loans, which often include debt securities of domestic and foreign issuers that are rated below investment grade (rated below Baa or BBB by a rating organization such as Moody's Investor Services or Standard & Poor's), at the time of purchase, or are of comparable quality, as determined by the subadviser, and other floating rate securities."We are very pleased with the success of the fund over the last five years," said Mr. Settle, Portfolio Manager. "The team at John Hancock has done a tremendous job raising awareness among investors about the benefits of including bank loans in their portfolios. In our view, bank loans continue to offer an attractive yield relative to other asset classes today and should benefit from rising rates and improving company fundamentals."The Class I shares are currently rated 5 stars, the Class A load-waived shares are rated 4 stars, and the Class A shares with load are rated 3 stars by Morningstar. Class I shares were rated 4 stars out of 134 funds and 5 stars out of 110 funds for the 3- and 5-year periods, respectively, as of December 31, 2012, by Morningstar. The Class A load-waived shares were rated 3 stars out of 134 funds and 5 stars out of 110 funds for the 3- and 5-year periods, respectively. Class A shares with load were rated 2 stars out of 134 funds and 4 stars out of 110 funds for the 3- and 5-year periods, respectively. Class I and Class A shares share a common portfolio of investments, but have difference expense structures.About Western Asset ManagementWestern Asset Management is one of the world's premier fixed-income managers. With offices in Pasadena, New York, London, Tokyo, Singapore, Hong Kong, Melbourne and Sao Paulo, Western's only business is fixed income. For more information, please visit www.westernasset.com.