John
Hancock
International Growth Fund
SUMMARY
PROSPECTUS 7–1–13
Before
you invest, you may want to review the fund’s prospectus, which contains more information about the fund and its risks.
You can find the fund’s prospectus and other information about the fund, including the statement of additional information
and most recent reports, online at www.jhfunds.com/Forms/Prospectuses.aspx. You can also get this information at no cost by calling
1-888-972-8696 or by sending an e-mail request to info@jhfunds.com. The fund’s prospectus and statement of additional information,
both dated 7-1-13, and most recent financial highlights information included in the shareholder report, dated 2-28-13, are incorporated
by reference into this Summary Prospectus.
Class I:
GOGIX
Investment
objective
To seek high total return primarily through capital appreciation.
Fees
and expenses
This table describes the fees and expenses you may pay if you
buy and hold shares of the fund.
Shareholder fees
(%) (fees paid directly from your investment)
|
Class I
|
Maximum front-end sales charge (load) on purchases as a % of purchase price
|
None
|
Maximum deferred sales charge (load) as a % of purchase or sale price, whichever is less
|
None
|
Annual fund operating expenses
(%)
|
|
(expenses that you pay each year as a percentage of the value of your investment)
|
Class I
|
Management fee
|
0.91
|
Other expenses
|
0.36
|
Total annual fund operating expenses
|
1.27
|
Contractual expense reimbursement
1
|
–0.03
|
Total annual fund operating expenses after expense reimbursements
|
1.24
|
|
1
|
The advisor has contractually agreed to reduce its management fee or, if necessary, make payment
to the fund to the extent necessary to maintain the fund's total operating expenses at 1.24% for Class I shares, excluding certain
expenses such as taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary
expenses not incurred in the ordinary course of the fund's business, acquired fund fees and expenses paid indirectly and short
dividend expense. The current expense limitation agreement expies on June 30, 2014, unless renewed by mutual agreement of the fund
and the advisor based upon a determination that this is appropriate under the circumstances at that time.
|
Expense
example
This example is intended to help
you compare the cost of investing in the fund with the cost of investing in other mutual funds. Please see below a hypothetical
example showing the expenses of a $10,000 investment for the time periods indicated assuming that you redeem all of your shares
at the end of those periods. The example assumes a 5% average annual return. The example assumes fund expenses will not change
over the periods. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
Expenses
($)
|
Class I
|
1
Year
|
126
|
3
Years
|
400
|
5
Years
|
694
|
10 Years
|
1,531
|
An
International Equity Fund
|
John
Hancock
International
Growth Fund
|
Portfolio
turnover
The fund pays transaction costs, such as commissions,
when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher
transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected
in annual fund operating expenses or in the example, affect the fund’s performance. During its most recent fiscal year, the
fund’s portfolio turnover rate was 61% of the average value of its portfolio.
Principal
investment strategies
The subadvisor seeks to achieve the fund’s investment
objective by investing in equity investments that the subadvisor believes will provide higher returns than the MSCI EAFE Growth
Index.
Under normal market conditions, the fund invests at least
80% of its total assets in equity investments. The fund typically invests in a diversified portfolio of equity investments from
a number of developed markets outside the U.S.
The subadvisor employs an active investment management
method, which means that securities are bought and sold according to the subadvisor’s evaluations of companies’ published
financial information, securities prices, equity and bond markets and the overall economy.
In selecting investments for the fund, the subadvisor
may use a combination of investment methods to identify which stocks present positive relative return potential. Some of these
methods evaluate individual stocks or a group of stocks based on the ratio of their price relative to historical financial information,
including book value, cash flow and earnings, and forecasted financial information provided by industry analysts. These ratios
can then be compared to industry or market averages to assess the relative attractiveness of a stock. Other methods focus on evaluating
patterns of price movement or volatility of a stock or group of stocks relative to the investment universe. The subadvisor selects
which methods to use, and in what combination, based on the subadvisor’s assessment of what combination is best positioned
to meet the fund’s objective. The subadvisor also may adjust the portfolio for other factors such as position size, market
capitalization and exposure to groups such as industry, sector, country or currency.
The fund’s foreign currency exposure may differ
from the currency exposure represented by its equity investments. The fund may also take active overweighted and underweighted
positions in particular currencies relative to its benchmark.
As a substitute for direct investments in equities, the
subadvisor may use exchange-traded and over-the-counter derivatives. The subadvisor also may use derivatives: (i) in an attempt
to reduce investment exposure (which may result in a reduction below zero); and (ii) in an attempt to adjust elements of its investment
exposure. Derivatives used may include futures, options, foreign currency forward contracts and swap contracts.
Principal
risks
An investment in the fund is not a bank deposit and
is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s shares
will go up and down in price, meaning that you could lose money by investing in the fund. Many factors influence a mutual fund’s
performance.
Instability in the financial markets has led many governments,
including the United States government, to take a number of unprecedented actions designed to support certain financial institutions
and segments of the financial markets that have experienced extreme volatility and, in some cases, a lack of liquidity. Federal,
state and other governments, and their regulatory agencies or self-regulatory organizations, may take actions that affect the
regulation of the instruments in which the fund invests, or the issuers of such instruments, in ways that are unforeseeable. Legislation
or regulation may also change the way in which the fund itself is regulated. Such legislation or regulation could limit or preclude
the fund’s ability to achieve its investment objective.
Governments or their agencies may also acquire distressed
assets from financial institutions and acquire ownership interests in those institutions. The implications of government ownership
and disposition of these assets are unclear, and such a program may have positive or negative effects on the liquidity, valuation
and performance of the fund’s portfolio holdings. Furthermore, volatile financial markets can expose the fund to greater
market and liquidity risk and potential difficulty in valuing portfolio instruments held by the fund.
The
fund’s main risk factors are listed below in alphabetical order.
Before investing, be sure to read the additional
descriptions of these risks beginning
on page 6 of the prospectus.
Active management risk
The
subadvisor’s investment strategy may fail to produce the intended result.
Credit and counterparty risk
The
counterparty to an over-the-counter derivatives contract or a borrower of a fund’s securities may be unable or
unwilling to make timely principal, interest or settlement payments,
or otherwise honor its obligations.
Currency risk
Fluctuations
in exchange rates may adversely affect the U.S. dollar value of a fund’s investments. Currency risk includes the risk that
currencies in which a fund’s investments are traded, or currencies in which a fund has taken an active position, will decline
in value relative to the U.S. dollar.
Equity securities risk
The
value of a company’s equity securities is subject to changes in the company’s financial condition, and overall market
and
economic conditions. The securities of growth companies
are subject to greater price fluctuations than other types of stocks because their market prices tend to place greater emphasis
on future earnings expectations.
Foreign securities risk
As
compared to U.S. companies, there may be less publicly available information relating to foreign companies. Foreign securities
may be subject to foreign taxes. The value of foreign securities is subject to currency fluctuations and adverse political and
economic developments.
Hedging, derivatives and other strategic transactions
risk
Hedging and other strategic transactions may increase the volatility
of a fund and, if
the transaction is not successful, could
result in a significant loss to a fund. The use of derivative instruments could produce disproportionate gains or losses, more
than the principal amount invested. Investing in derivative instruments involves risks different from, or possibly greater than,
the risks associated with investing directly in securities and other traditional investments and, in a down market, could become
harder to value or sell at a fair price. The following is a list of certain derivatives and other strategic transactions in which
the fund may invest and the main risks associated with each of them:
Foreign currency forward contracts
Counterparty
risk, liquidity risk (i.e., the inability to enter into closing transactions), foreign currency risk
and
risk of disproportionate loss are the principal risks of engaging in transactions involving foreign currency forward contracts.
Futures contracts
Counterparty
risk, liquidity risk (i.e., the inability to enter into closing transactions) and risk of disproportionate loss are the
principal risks of engaging in transactions involving futures contracts.
Options
Counterparty
risk, liquidity risk (i.e., the inability to enter into closing transactions) and risk of disproportionate loss are the principal
risks
of engaging in transactions involving options. Counterparty
risk does not apply to exchange-traded options.
Swaps
Counterparty
risk, liquidity risk (i.e., the inability to enter into closing transactions), interest-rate risk, settlement risk, risk of default
of the
underlying reference obligation and risk of disproportionate
loss are the principal risks of engaging in transactions involving swaps.
High portfolio turnover risk
Actively
trading securities can increase transaction costs (thus lowering performance) and taxable distributions.
Issuer risk
An
issuer of a security may perform poorly and, therefore, the value of its stocks and bonds may decline. An issuer of securities
held by the
fund could default or have its credit rating
downgraded.
Large company risk
Large-capitalization
stocks as a group could fall out of favor with the market, causing the fund to underperform investments that
focus
on small- or medium-capitalization stocks. Larger, more established companies may be slow to respond to challenges and may grow
more slowly than smaller companies. For purposes of the fund’s investment policies, the market capitalization of a company
is based on its market capitalization at the time the fund purchases the company’s securities. Market capitalizations of
companies change over time.
Liquidity risk
Exposure
exists when trading volume, lack of a market maker or legal restrictions impair the ability to sell particular securities or close
derivative positions at an advantageous price.
Medium and smaller company risk
The prices of medium and smaller company stocks can change more frequently
and dramatically than those of
large company stocks. For
purposes of the fund’s investment policies, the market capitalization of a company is based on its market capitalization
at the time the fund purchases the company’s securities. Market capitalizations of companies change over time.
Past
performance
The following performance information in the bar chart
and table below illustrates the variability of the fund’s returns and provides some indication of the risks of investing
in the fund by showing changes in the fund’s performance from year to year. However, past performance (before and after taxes)
does not indicate future results. All figures assume dividend reinvestment. Performance for the fund is updated daily, monthly
and quarterly and may be obtained at our Web site: www.jhfunds.com/InstitutionalPerformance, or by calling 1-888-972-8696 between
8:30 A.M. and 5:00 P.M., Eastern Time, on most business days.
Average annual total returns
Performance
of a broad-based market index is included for comparison. The MSCI EAFE Index shows how the fund’s
performance
compares against the returns of similar investments.
After-tax returns
They
reflect the highest individual federal marginal income tax rates in effect as of the date provided and do not reflect any state
or
local taxes. Your actual after-tax returns may be different.
After-tax returns are not relevant to shares held in an IRA, 401(k) or other tax-advantaged investment plan.
MSCI EAFE Growth Index
(gross
of foreign withholding tax on dividends) is a free float-adjusted market capitalization index that is designed to
measure
the performance of growth-oriented developed market stocks within Europe, Australasia and the Far East.
MSCI EAFE Index
(gross
of foreign withholding tax on dividends) is a free float-adjusted market capitalization index that is designed to measure the
equity market performance of developed markets, excluding the U.S.
and Canada.
John
Hancock
International
Growth Fund
|
Calendar year
total returns — Class I
(%)
|
Year-to-date total return
The
fund’s total return for the three months ended March 31, 2013 was 6.66%.
Best
quarter:
Q3’10, 17.78%
Worst
quarter:
Q3’08, –19.26%
Average annual
total returns
(%)
|
1 Year
|
5 Year
|
Inception
|
as of 12-31-12
|
|
|
6-12-06
|
Class I
before tax
|
19.87
|
–0.90
|
4.15
|
After tax on distributions
|
18.74
|
–1.29
|
3.42
|
After tax on distributions, with sale
|
14.94
|
–0.77
|
3.39
|
MSCI EAFE Growth Index (gross of foreign withholding taxes on dividends)
|
17.28
|
–2.74
|
2.79
|
MSCI EAFE Index (gross of foreign withholding taxes on dividends)
|
17.90
|
–3.21
|
1.97
|
Investment
management
Investment advisor
John
Hancock Investment Management Services, LLC
Subadvisor
Grantham,
Mayo, Van Otterloo & Co. LLC
Portfolio
management
Dr. David Cowan
|
Dr. Thomas Hancock
|
Co-director of the Global Equity Team
|
Co-director of the Global Equity Team
|
|
|
Joined fund in 2012
|
Joined fund at inception
|
Purchase
and sale of fund shares
The minimum initial investment requirement for Class I
shares of the fund is $250,000. There are no subsequent investment requirements. You may redeem shares of the fund on any business
day by mail: Mutual Fund Operations, John Hancock Signature Services, Inc., P.O. Box 55913, Boston, Massachusetts 02205-5913; or
for most account types through our Web site: www.jhfunds.com or by telephone: 1-888-972-8696.
Taxes
The fund’s distributions are taxable, and will
be taxed as ordinary income and/or capital gains, unless you are investing through a tax-deferred arrangement, such as a 401(k)
plan or individual retirement account. Withdrawals from such tax-deferred arrangements may be subject to tax at a later date.
Payments
to broker-dealers and other financial intermediaries
If you purchase the fund through a broker-dealer or other
financial intermediary (such as a bank, registered investment advisor, financial planner or retirement plan administrator), the
fund and its related companies may pay the intermediary for the sale of fund shares and related services. These payments may create
a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the fund over another
investment. Ask your salesperson or visit your financial intermediary’s Web site for more information.
© 2013 John Hancock Funds, LLC 87ISP 7-1-13 SEC file number:
811-21777
Carpenter Technology (NYSE:CRS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Carpenter Technology (NYSE:CRS)
Historical Stock Chart
From Jul 2023 to Jul 2024