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John Hancock Financial Opportunities Fund (NYSE: BTO) is a closed-end fund dedicated to providing investors with unique financial opportunities. Managed by John Hancock Investment Management LLC and subadvised by Manulife Investment Management (US) LLC, the fund seeks to deliver robust returns through a well-diversified portfolio that harnesses specialized expertise from a network of unaffiliated asset managers.
John Hancock Investments brings a heritage of financial stewardship dating back to 1862, managing over $148 billion in assets and collaborating with 27 distinct asset managers worldwide. The fund's unique multimanager approach ensures diversified investments meant to align with investor needs, utilizing the robust oversight framework of John Hancock to maintain high standards and strong risk-adjusted returns.
The fund’s strategy includes fixed quarterly distributions, currently set at $0.6500 per share, aligning with their managed distribution plan. Recent distributions for June 2023, September 2023, December 2023, March 2024, and June 2024 underline the fund's commitment to providing steady income to its shareholders. However, it's important to note that portions of these distributions may be classified as returns of capital, reflecting the fund's distribution policy rather than direct investment performance.
John Hancock Financial Opportunities Fund leverages the extensive resources and expertise of its parent company, Manulife Financial Corporation, a global leader in wealth and asset management with capabilities spanning public and private markets across 18 geographies. This partnership underscores a commitment to responsible investing, sustainable practices, and long-term financial well-being, supporting individuals, institutions, and retirement plans globally.
Investors are advised to consider the fund’s investment objectives, risks, charges, and expenses carefully before investing. With a focus on diversified, time-tested investments and a heritage of financial stewardship, John Hancock Financial Opportunities Fund stands as a premier option for those seeking dependable income and growth opportunities in the financial sector.
John Hancock Closed-End Funds released earnings data for the three months ended September 30, 2024, along with comparable data for the same period in 2023. The report focuses on two funds:
1. Hedged Equity & Income Fund (HEQ):
- 2024: Net Investment Income of $1,582,465, NAV of $12.32
- 2023: Net Investment Income of $1,317,214, NAV of $11.13
2. Financial Opportunities Fund (BTO):
- 2024: Net Investment Income of $2,051,601, NAV of $32.77
- 2023: Net Investment Income of $2,044,240, NAV of $24.53
Both funds showed increases in Net Investment Income and NAV compared to the previous year. The report notes that earnings refer to net investment income, comprising interest and dividend income minus expenses. Past earnings do not guarantee future results.
John Hancock Financial Opportunities Fund (NYSE: BTO) announced its quarterly distribution of $0.6500 per share, payable on September 30, 2024, to shareholders of record as of September 13, 2024. The distribution sources include:
- 16% from net investment income
- 7% from net realized short-term capital gains
- 47% from net realized long-term capital gains
- 30% from return of capital or other capital source
The Fund's average annual total return for the 5 years ended August 31, 2024, was 9.80%. The annualized current distribution rate is 7.74% of NAV. The Fund estimates it has distributed more than its income and net realized capital gains, so a portion of the distribution may be a return of capital.
John Hancock Closed-End Funds released earnings data for the three months ended June 30, 2024, alongside comparative data for the same period in 2023. The report focuses on two funds: Hedged Equity & Income Fund (HEQ) and Financial Opportunities Fund (BTO).
Key highlights for BTO:
- Net Investment Income: $2,348,212 (2024) vs $2,621,640 (2023)
- Per Common Share: $0.119 (2024) vs $0.134 (2023)
- NAV: $28.49 (2024) vs $24.40 (2023)
- Total Managed Assets: $691,776,817 (2024) vs $602,520,950 (2023)
- Total Net Assets: $561,776,817 (2024) vs $477,520,950 (2023)
The data shows a year-over-year increase in NAV and total managed assets for BTO, despite a slight decrease in net investment income.
John Hancock Financial Opportunities Fund (NYSE: BTO) announced the sources of its quarterly distribution of $0.6500 per share, payable on June 28, 2024. Shareholders of record as of June 13, 2024, are eligible for this distribution. The distribution is broken down as follows: 19% from net investment income, 16% from net realized short-term capital gains, 54% from net realized long-term capital gains, and 11% from return of capital. The fund's average annual total return over the last five years is 6.39%, while the fiscal year-to-date return is -3.64%. The annualized distribution rate as of May 31, 2024, is 9.02% of NAV. The fund has distributed more than its income and capital gains, indicating that part of the distribution may be a return of capital.
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