John Hancock Investment Management announces changes to municipal fund suite bringing additional options to tax-free income investors

$ unless otherwise stated                                               TSX/NYSE/PSE: MFC     SEHK: 945

BOSTON, Nov. 4, 2022 /CNW/ - 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.

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.

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.

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.

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.

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.

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.

SOURCE John Hancock Investment Management