BOSTON, June 1, 2016 /PRNewswire/ -- John Hancock Investments in April marked the tenth anniversary of the inception of John Hancock Strategic Income Opportunities Fund, a go-anywhere multi-sector bond fund managed by John Hancock Asset Management and, with $5.5 billion in assets as of March 31, 2016, the largest fixed-income fund in the John Hancock Investments lineup.
For the 10-year period ended April 30, 2016, the fund (Class I shares, JIPIX) was rated 5 stars out of the 106 funds tracked by Morningstar in the multisector bond fund category. Over that same time period, the fund also outperformed its benchmark, the Barclays U.S. Aggregate Bond Index, by an average of more than 125 basis points on an annualized basis.
The fund was also recently awarded a Silver Morningstar Analyst Rating. According to Morningstar, the analyst rating "provides a forward-looking assessment built on the analyst's conviction in the fund's ability to outperform its peer group or a relevant benchmark on a risk-adjusted basis over the long term. Analysts evaluate funds based on five key pillars—people, parent, process, performance, and price. Morningstar Medalists—whether they've received a Gold, Silver, or Bronze rating—are funds that our analysts believe will perform better over time compared to similar investments."
The fund is managed by Daniel S. Janis III, who has led the portfolio management team since the fund's inception, along with Thomas C. Goggins and Kisoo Park. Mr. Janis is head of global multi-sector fixed income for John Hancock Asset Management. Mr. Goggins specializes in corporate credit, and Mr. Park focuses on currency management and macroeconomic trends.
"We are pleased to recognize John Hancock Strategic Income Opportunities Fund's 10-year anniversary, and congratulate Dan, Tom, Kisoo, and their team on the impressive track record they've built for shareholders," said Andrew G. Arnott, president and CEO of John Hancock Investments. "Our company is squarely focused on offering funds that serve investors' needs and on delivering solid long-term results. This fund, with its flexible strategy and strong 10-year performance record, is a testament to both of those goals."
One of the facets of the fund's flexible strategy that makes it unique is its use of currency positions. While the majority of the fund is generally invested in securitized, corporate, and government debt from U.S. and foreign issuers, the team will also make heavy use of the currency markets. The team will hedge any undesired currency exposure from foreign-denominated bonds out of the portfolio, and it will also take smaller, tactical positions in currencies outright if their research suggests investment opportunities exist.
Prior to joining John Hancock Asset Management, Mr. Janis held positions in investment risk management and managing foreign exchange and forwards desks, and has extensive experience in currency trading, which has helped to shape the fund's strategy. Today, the team is spread between offices in Boston, London, and Hong Kong, allowing for 24-hour coverage of the global bond and currency markets.
John Hancock Strategic Income Opportunities Fund is offered in the following share classes: Class A, JIPAX; Class C, JIPCX; Class I, JIPIX; Class R2, JIPPX; and Class R6, JIPRX.
John Hancock Strategic Income Opportunities Fund's date of inception is April 28, 2006. There is no guarantee that investment objectives will be met.
For each fund with at least a 3-year history, Morningstar calculates a Morningstar rating based on a Morningstar Risk-Adjusted Return that accounts for variation in a fund's monthly performance (including effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10.0% of funds in each category, the next 22.5%, 35.0%, 22.5%, and bottom 10.0% receive 5, 4, 3, 2, or 1 star(s), respectively. (Each share class is counted as a fraction of one fund within this scale and is rated separately, which may cause slight variations in the distribution percentages.) The overall Morningstar rating for a fund is derived from a weighted average of the performance associated with its 3-, 5-, and 10-year (if applicable) Morningstar rating metrics. The fund's Class I share overall rating was 4 stars out of 247 funds, 4 stars out of 182 funds, and 5 stars out of 106 funds for the 3-, 5- and 10-year periods, respectively. Please note that Class I shares may not be available to all investors and that performance of other share classes may vary. Past performance does not guarantee future results.
The Morningstar Analyst Rating is not a credit or risk rating. It is a subjective evaluation performed by the mutual fund analysts of Morningstar, Inc. Morningstar evaluates funds based on five key pillars, which are process, performance, people, parent, and price. Morningstar's analysts use this five-pillar evaluation to identify funds they believe are more likely to outperform over the long term on a risk-adjusted basis. Analysts consider quantitative and qualitative factors in their research, the weighting of each pillar may vary, and they are not equally weighted. The Analyst Rating ultimately reflects the analysts' overall assessment and is overseen by Morningstar's Analyst Rating Committee. The approach serves not as a formula but as a framework to ensure consistency across Morningstar's global coverage universe. The Analyst Rating scale ranges from gold to negative, with gold being the highest rating and negative being the lowest rating. A fund with a gold rating distinguishes itself across the five pillars and has garnered the analysts' highest level of conviction. Analyst Ratings are reevaluated at least every 14 months. For more detailed information about Morningstar's Analyst Rating, including its methodology, please go to http://corporate.morningstar.com / us / documents / MethodologyDocuments / AnalystRatingforFundsMethodology.pdf.
The Morningstar Analyst Rating should not be used as the sole basis in evaluating a mutual fund. Morningstar Analyst Ratings are based on Morningstar's current expectations about future events; therefore, in no way does Morningstar represent ratings as a guarantee, nor should they be viewed by an investor as such. Morningstar Analyst Ratings involve unknown risks and uncertainties, which may cause Morningstar's expectations to not occur or to differ significantly from what we expected.
Fixed-income investments are subject to interest-rate and credit risk; their value will normally decline as interest rates rise or if an issuer is unable or unwilling to make principal or interest payments. Investments in higher-yielding, lower-rated securities include a higher risk of default. Foreign investing, especially in emerging markets, has additional risks, such as currency and market volatility and political and social instability. Currency transactions are affected by fluctuations in exchange rates. Liquidity—the extent to which a security may be sold or a derivative position closed without negatively affecting its market value, if at all—may be impaired by reduced trading volume, heightened volatility, rising interest rates, and other market conditions. The use of hedging and derivatives could produce disproportionate gains or losses and may increase costs. Fund distributions generally depend on income from underlying investments and may vary or cease altogether in the future. Please see the fund's prospectus for additional risks.
A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investments at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
About John Hancock Investments
John Hancock has helped individuals and institutions build and protect wealth since 1862. Today, we are one of America's strongest and most-recognized brands. As a manager of managers, John Hancock Investments searches the world to find proven portfolio teams with specialized expertise for every fund we offer, then we apply vigorous investment oversight to ensure they continue to meet our uncompromising standards and serve the best interests of our shareholders. Our unique approach to asset management has led to a diverse set of investments deeply rooted in investor needs, along with strong risk-adjusted returns across asset classes.
About John Hancock Financial and Manulife
John Hancock Financial is a division of Manulife, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife in Canada and Asia, and primarily as John Hancock in the United States, our group of companies offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents, and distribution partners. Assets under management and administration by Manulife and its subsidiaries were $904 billion (US $697 billion) as at March 31, 2016. Manulife Financial Corporation trades as "MFC" on the TSX, NYSE, and PSE, and under "945" on the SEHK. Manulife can be found on the Internet at manulife.com.
The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers and administers a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at johnhancock.com.
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SOURCE John Hancock Investments