John
Hancock
Rainier 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 3-31-13, are incorporated by reference into this Summary Prospectus.
Investment objective
To seek to maximize long-term 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
ADV
|
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
|
Small account fee (for fund account balances under $1,000)
|
$20
|
Annual
fund operating expenses
(%)
(expenses
that you pay each year as a percentage of the value of your investment)
|
Class
ADV
|
Management fee
|
0.73
|
Distribution and service (12b-1) fees
|
0.25
|
Other expenses
|
0.35
|
Total annual fund operating expenses
|
1.33
|
Contractual expense reimbursement
1
|
–0.19
|
Total annual fund operating expenses after expense reimbursements
|
1.14
|
|
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 1.14% for Class ADV 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 expires 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
ADV
|
1
Year
|
116
|
3
Years
|
403
|
5
Years
|
711
|
10 Years
|
1,585
|
John
Hancock
Rainier
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 92% of the average value of its portfolio.
Principal investment strategies
Under normal market conditions, the fund invests at least 80%
of its net assets in the common stock of large-capitalization growth companies traded in the U.S. The term “growth company”
denotes companies with the prospect of strong earnings, revenue or cash flow growth.
The subadvisor’s stock selection focuses on companies that
are likely to demonstrate strong earnings, revenue or cash flow growth relative to their industry peers. The fund will normally
invest in approximately 40 to 80 companies.
The subadvisor considers large-capitalization companies to be
those currently with market capitalizations of at least $3 billion at time of investment. The fund may invest in common stock of
companies of all sizes, including small capitalization companies (when the subadvisor believes such companies to be especially
attractive). Investments in companies with market capitalization below $3 billion will normally comprise less than 20% of the fund.
The subadvisor compares the fund’s economic sector weightings
to a large cap growth equity index, such as the Russell 1000 Growth Index, and seeks to avoid extreme sector overweighting and
underweighting compared to the benchmark to help control risk.
The subadvisor favors companies with attractive fundamentals,
such as strong revenue, earnings or cash flow growth. Companies with sustainable competitive advantages, potential price or business
catalysts, including earnings surprise or market expansion, and disciplined management with shareholder focus are emphasized.
The subadvisor also seeks to capture the capital appreciation
sometimes associated with high-performing companies identified early in their growth cycles. For emerging companies lacking demonstrated
financial results, the strength of the company’s business model, management team and competitive position are given greater
analytical emphasis.
The fund may invest up to 25% of its total assets in foreign securities.
These include U.S. dollar-denominated securities of foreign issuers and securities of foreign issuers that are traded in the United
States. Currently, the subadvisor intends to invest only in U.S. dollar-denominated securities of foreign issuers or American Depositary
Receipts (ADRs).
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.
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.
High portfolio turnover risk
Actively
trading securities can increase transaction costs (thus lowering performance) and taxable distributions.
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.
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.
Sector risk
Because
the fund may from time to time focus on one or more sectors of the economy, at such times its performance will depend in
large part on the performance of those sectors. A fund that invests
in particular sectors is particularly susceptible to the impact of market, economic, regulatory and other factors affecting those
sectors. As a result, at such times, the value of your investment may fluctuate more widely than it would in a fund that is invested
across sectors.
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, as always, 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/FundPerformance, 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 S&P 500 Index shows how the fund’s
performance
compares with the returns of an index of stocks with a broad range of market capitalizations.
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.
Russell 1000 Growth Index
is
an unmanaged index containing those securities in the Russell 1000 Index with a greater-than-average
growth
orientation.
S&P 500 Index
is
an unmanaged index that includes 500 widely traded common stocks.
Class ADV shares of the fund commenced operations on April 28,
2008. The returns prior to that date are those of Rainier Large Cap Growth Equity Portfolio’s (predecessor fund) Original
shares, first offered on June 15, 2000, that have been recalculated to apply the gross fees and expenses of Class ADV shares.
Calendar
year total returns — Class ADV
(%)
|
Year-to-date total return
The
fund’s total return for the three months ended March 31, 2013 was 7.62%.
Best quarter:
Q1
’12, 16.89%
Worst quarter:
Q4
’08, –25.31%
Average
annual total returns
(%)
|
1
Year
|
5
Year
|
10
Year
|
as
of 12-31-12
|
|
|
|
Class ADV
before tax
|
15.77
|
–0.85
|
7.55
|
After tax on distributions
|
15.77
|
–0.85
|
7.55
|
After tax on distributions, with sale
|
10.25
|
–0.72
|
6.68
|
Russell 1000 Growth Index
|
15.26
|
3.12
|
7.52
|
S&P 500 Index
|
16.00
|
1.66
|
7.10
|
Investment management
Investment advisor
John
Hancock Investment Management Services, LLC
Subadvisor
Rainier
Investment Management, Inc.
Portfolio management
Mark H. Dawson, CFA
|
Michael Emery, CFA
|
James R. Margard, CFA
|
Chief investment officer and senior
|
Senior portfolio manager
|
Senior portfolio manager
|
portfolio manager
|
|
|
|
|
|
On fund team since inception
|
On fund team since 2008
|
On fund team since inception
|
John
Hancock
Rainier
Growth Fund
|
Purchase and sale of fund shares
There are no minimum initial or subsequent investment requirements
for Class ADV shares of the fund. 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 334ASP 7-1-13 SEC file number: 811-21777
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