John Hancock Financial Opportunities Fund Enters Into New Liquidity Facility
BOSTON, June 18, 2015 /PRNewswire/ -- John Hancock Financial Opportunities Fund (NYSE: BTO) (the "Fund"), a John Hancock closed-end fund that utilizes leverage, announced today that it entered into a new liquidity facility with State Street Bank and Trust Company, a subsidiary of State Street Corporation ("State Street"). The new liquidity facility replaces the facility with the previous credit facility provider.
The new liquidity facility agreement with State Street provides the Fund the opportunity to obtain investment leverage through a line of credit and/or through securities lending. Additional information about the Fund or its use of leverage can be found in the Fund's annual and semi-annual shareholder reports, which are available on the Funds' website at www.jhfunds.com. Information about the new liquidity facility agreement will be available in the Fund's next annual shareholder report.
In order to facilitate obtaining leverage through securities lending, the Fund has amended its investment policy regarding securities lending to clarify that cash collateral received in connection with securities lending transactions may be invested in any investment that is consistent with the Fund's investment objective, policies, and limitations.
The Fund is managed by John Hancock Advisers, LLC and subadvised by John Hancock Asset Management (U.S.) LLC, a division of Manulife Asset Management.
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 Investments
John Hancock Investments provides asset management services to individuals and institutions through a unique manager-of-managers approach. A wealth management business of John Hancock Financial, we managed $130 billion in assets as of March 31, 2015, across mutual funds, college savings plans, and retirement plans.
About John Hancock Financial and Manulife Financial
John Hancock Financial is a division of Manulife Financial, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife Financial in Canada and Asia, and primarily as John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were C$821 billion (US$648 billion) as of March 31, 2015. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial 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, fixed products, mutual funds, 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.
SOURCE John Hancock Investments
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