JOHN HANCOCK FINANCIAL OPPORTUNITIES FUND ANNOUNCES INVESTMENT POLICY CHANGE

Rhea-AI Summary

The John Hancock Financial Opportunities Fund (NYSE: BTO) announced a change to its investment policies approved by its Board of Trustees. Effective December 15, 2022, the Fund will now have increased flexibility to invest in investment-grade securities beyond mere defensive purposes. The Adviser believes this move aims to enhance returns with potentially lower volatility, enhancing the Fund's ability to achieve its distribution goals for shareholders.

Positive

• Increased flexibility in investment policies allowing for investment in investment-grade securities.
• Potential for lower volatility and yields that may meet or exceed distribution goals.

Negative

• None.

BOSTON, Dec. 15, 2022 /PRNewswire/ - The John Hancock Financial Opportunities Fund (NYSE: BTO) (the "Fund"), advised by John Hancock Investment Management LLC (the "Adviser") and subadvised by Manulife Investment Management (US) LLC, announced today that the Board of Trustees (the "Board") has approved a change to the Fund's investment policies. This change provides additional flexibility with respect to investments in investment grade securities, which the Adviser believes is in the best interest of the Fund's shareholders.

Under the revised investment policies, the Fund will be allowed to invest in investment grade securities beyond defensive purposes.  The Fund will be allowed to invest in investment grade securities for lower volatility and yields that potentially meet or exceed the Fund's distribution.

The change announced today will become effective as of December 15, 2022.

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.

An investor should consider a Fund's investment objectives, risks, charges and expenses carefully before investing.

About John Hancock Investment Management

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.

About Manulife Investment Management

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 18 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.

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SOURCE John Hancock Investment Management

FAQ

What investment policy changes were announced for the John Hancock Financial Opportunities Fund (BTO) on December 15, 2022?

The Fund announced increased flexibility to invest in investment-grade securities beyond defensive purposes.

How will the investment policy change benefit shareholders of the BTO fund?

The change aims to enhance returns and provide lower volatility, which may help achieve the Fund's distribution goals.

When did the new investment policy for John Hancock Financial Opportunities Fund (BTO) become effective?

The new investment policy became effective on December 15, 2022.

Who manages the John Hancock Financial Opportunities Fund (BTO)?

The Fund is advised by John Hancock Investment Management LLC and subadvised by Manulife Investment Management (US) LLC.

What is the ticker symbol for the John Hancock Financial Opportunities Fund?

The ticker symbol is BTO.