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John Hancock Hedged Equity & Income Fund (NYSE: HEQ) is a closed-end management investment company with a focus on providing total return through current income and gains, along with long-term capital appreciation. Managed by John Hancock Investment Management LLC and subadvised by Wellington Management Company LLP, the fund leverages a diversified investment strategy across various sectors including financials, consumer discretionary, information technology, energy, healthcare, materials, real estate, consumer staples, and short-term investments.
The fund's unique approach to asset management, combining in-house expertise with a network of specialized unaffiliated asset managers, aims to deliver strong risk-adjusted returns. The fund prioritizes rigorous investment oversight to ensure adherence to high standards and consistent performance.
John Hancock Hedged Equity & Income Fund is notable for its managed distribution plan, providing fixed quarterly distributions. Recently, the fund announced a quarterly distribution of $0.2500 per share, reflecting a strategic adjustment in its distribution plan to sustain its long-term investment objectives. The fund's investment approach allows it to draw from net investment income, realized short-term and long-term capital gains, and return of capital to support these distributions.
As part of the broader John Hancock Investments and Manulife Investment Management family, the fund benefits from over a century of financial stewardship. The parent company’s extensive resources, coupled with a global presence across 18 geographies, enhance the fund's operational capabilities. Commitment to responsible investing is a cornerstone of their strategy, fostering sustainable financial well-being for investors.
The fund's latest financial updates include quarterly distributions, strategic adjustments to its managed distribution plan, and ongoing efforts to align investment performance with shareholder expectations. Investors are encouraged to monitor these updates closely for insights into fund performance and strategic decisions.
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 Hedged Equity & Income Fund (NYSE: HEQ) announced its quarterly distribution of $0.2500 per share, payable on September 30, 2024, to shareholders of record as of September 13, 2024. The distribution sources include:
- 53% from net investment income
- 43% from net realized long-term capital gains
- 4% from return of capital or other capital source
The Fund's average annual total return for the 5 years ended August 31, 2024, was 7.19%. The annualized current distribution rate is 8.06% of NAV. The Fund's cumulative total return for the fiscal year through August 31, 2024, was 11.99%. 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 Investment Management has announced a change in the portfolio management team for the John Hancock Hedged Equity & Income Fund (NYSE: HEQ). Effective July 30, 2024, Gregg Thomas, CFA, Co-Head of Investment Strategy at Wellington Management, will no longer serve as a portfolio manager for HEQ. Roberto Isch, CFA, Senior Managing Director at Wellington Management, will continue as the sole portfolio manager for the fund.
Mr. Isch has been involved in managing HEQ since 2012 and was officially named a portfolio manager in February 2019. The fund is advised by John Hancock Investment Management and subadvised by Wellington Management Company, LLP.
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 Hedged Equity & Income Fund (NYSE: HEQ) has announced the sources of its $0.2500 per share quarterly distribution, payable on June 28, 2024. The distribution comprises 75% net investment income, 3% net realized short-term capital gains, and 22% net realized long-term capital gains. The fund has declared this distribution under its managed distribution plan. For the fiscal year-to-date, total cumulative distributions reached $0.5010 per share, including 62% from net investment income and 36% from short-term capital gains. The distribution rate stands at 8.33% of NAV as of May 31, 2024. Investors are reminded that the reported sources are estimates and not for tax purposes.
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