John Hancock Investment Management announces changes to municipal fund suite bringing additional options to tax-free income investors

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BOSTON, Nov. 4, 2022 /PRNewswire/ - John Hancock Investment Management, a company of Manulife Investment Management, today announced recent enhancements to its municipal fund suite bringing additional flexibility to advisors and their clients seeking tax-free income opportunities and potential cost savings to shareholders.

Effective October 1, 2022, as a result of reductions to the management fees and contractual expense caps affecting John Hancock Municipal Opportunities Fund and John Hancock California Municipal Bond Fund, shareholders will see an immediate reduction in the funds' overall expense ratios. John Hancock High Yield Municipal Bond Fund is also affected by a contractual expense cap reduction. The new fee schedules can be found in the updated prospectus for each fund at jhinvestments.com.

Effective August 1, 2022, reductions were made to the eligibility requirement for investments in Class A shares with no front-end sales charge for its municipal bond funds from $1 million to $250,000.¹ This includes John Hancock Municipal Opportunities Fund, John Hancock California Municipal Bond Fund, and John Hancock High Yield Municipal Bond Fund. John Hancock Short Duration Municipal Opportunities Fund was launched with a similar $250,000 eligibility. These opportunities are available at all firms where the funds are approved or available.

Effective June 9, 2022, John Hancock Investment Management announced the launch of John Hancock Short Duration Municipal Opportunities Fund. The objective of the fund is to seek total return exempt from federal income tax as is consistent with preservation of capital.

The municipal suite is subadvised by Manulife Investment Management (US) LLC, John Hancock Investment Management's affiliated asset manager. The managers of the municipal suite of funds are Adam A. Weigold, CFA, senior portfolio manager, head of municipal bonds and Dennis DiCicco, portfolio manager, municipal bonds.

Request a prospectus or summary prospectus from your financial professional, by visiting jhinvestments.com, or by calling us at 800-225-5291. The prospectus includes investment objectives, risks, fees, expenses, and other information that you should consider carefully before investing.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

This material does not constitute tax, legal, or accounting advice, is for informational purposes only and is not meant as investment advice. Please consult your tax or financial professional before making any investment decisions. 

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.

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SOURCE John Hancock Investment Management