John Hancock Preferred Income Fund Reports Net Investment Income

Strategic Insights -

John Hancock Preferred Income Fund, a closed-end fund managed by John Hancock Advisers, LLC, has reported its financial performance for the first quarter ended October 31, 2004. The fund's net investment income for the period was $14,942,730, down from $15,244,413 for the comparable period in 2003. As of October 31, 2004, the net asset value per share was $25.35, with total net assets of $932,132,382 and 25,723,740 common shares outstanding. The fund's financial performance is part of John Hancock Funds' overall asset management, which managed approximately $29 billion in open-end and closed-end funds, private accounts, retirement plans, and related party assets as of September 30, 2004.

Key Takeaways:

  • The John Hancock Preferred Income Fund reported net investment income of $14,942,730 for the first quarter ended October 31, 2004, a decrease from $15,244,413 in the comparable period in 2003.
  • The fund's net asset value per share as of October 31, 2004, was $25.35, with total net assets of $932,132,382 and 25,723,740 common shares outstanding.
  • John Hancock Funds managed approximately $29 billion in assets as of September 30, 2004, across a range of fund types, including open-end and closed-end funds, private accounts, retirement plans, and related party assets.
  • John Hancock Preferred Income Fund is a closed-end fund managed by John Hancock Advisers, LLC, and is part of John Hancock Funds' broader investment management operations.
  • Manulife Financial Corporation, the parent company of John Hancock Financial Services, has funds under management of Cdn$346 billion (US$274 billion) as at September 30, 2004.

Statistics:

  • Net investment income for the John Hancock Preferred Income Fund for the first quarter ended October 31, 2004, was $14,942,730.
  • The fund's net investment income decreased from $15,244,413 in the comparable period in 2003.
  • The fund's net asset value per share as of October 31, 2004, was $25.35.
  • Total net assets of the John Hancock Preferred Income Fund as of October 31, 2004, were $932,132,382.
  • John Hancock Funds managed approximately $29 billion in assets as of September 30, 2004.
  • Funds under management by Manulife Financial and its subsidiaries as at September 30, 2004, were Cdn$346 billion (US$274 billion).

Sources:

  • John Hancock Preferred Income Fund press release, dated October 2004.
  • John Hancock Funds website, http://www.jhfunds.com/.
  • Manulife Financial website, http://www.manulife.com/.
  • Financial statements and reports filed by John Hancock Financial Services and Manulife Financial Corporation.