John Hancock proposes merger of two funds
January 4, 1999
The trustees of the $36 million John Hancock World Bond Fund have proposed merging the fund into the $1.1 billion John Hancock Strategic Income Fund. If approved by a shareholder vote on Feb. 10, the merger would occur on Feb. 19. The World Bond Fund's trustees believe that the broader investment mandate of the Strategic Income Fund could provide shareholders with the ability to participate in foreign bond investments without being as vulnerable to potential downturns overseas, John Hancock Funds said in a statement. The Strategic Income Fund's flexible strategy permits it to invest in high yield U.S. corporate bonds, U.S. government bonds as well as foreign bonds. This more diversified approach can both reduce volatility and permit the fund to seek opportunities in the strongest sectors at any time.