John
Hancock
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International Core Fund
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SUMMARY
PROSPECTUS 7–1–13
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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.
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Class
R1:
GOCRX
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Class
R2:
JICGX
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Class
R3:
JICHX
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Class
R4:
JICFX
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Class
R5:
JICWX
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Investment objective
To seek high total return.
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)
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Class
R1
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Class
R2
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Class
R3
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Class
R4
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Class
R5
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Maximum front-end sales charge (load) on purchases as a % of purchase price
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None
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None
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None
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None
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None
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Maximum deferred sales charge (load) as a % of purchase or sale price, whichever is less
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None
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None
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None
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None
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None
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Annual fund
operating expenses
(%)
(expenses that
you pay each year as a percentage of the
value of your
investment)
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Class
R1
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Class
R2
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Class
R3
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Class
R4
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Class
R5
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Management fee
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0.89
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0.89
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0.89
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0.89
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0.89
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Distribution and service (12b-1) fees
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0.50
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0.25
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0.50
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0.15
1
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0.00
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Other expenses
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5.75
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19.56
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45.96
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41.29
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20.22
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Service plan fee
2
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0.25
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0.25
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0.15
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0.10
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0.05
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Total annual fund operating expenses
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7.39
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20.95
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47.50
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42.43
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21.16
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Contractual expense reimbursement
3
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–5.49
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–19.30
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–45.70
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–41.03
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–19.96
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Total
annual fund operating expenses after expense reimbursements
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1.90
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1.65
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1.80
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1.40
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1.20
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1
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The fund's distributor has contractually agreed to waive 0.10% of Rule 12b-1 fees for Class R4
shares. The current waiver agreement expires on June 30, 2014, unless renewed by mutual agreement of the fund and the distributor
based upon a determination that this is appropriate under the circumstances at that time. Excluding this waiver would result in
Rule 12b-1 fees of 0.25%.
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2
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"Service plan fee" has been restated to reflect maximum allowable fees.
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3
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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 1.90%, 1.65%, 1.80%, 1.40% and 1.20% for Class R1, Class R2, Class
R3, Class R4 and Class R5 shares, respectively, 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.
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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 $10,000 investment for the time periods indicated assuming that you redeem all of your shares at the end of those
periods. The example assumes a 5% average annual return. The example assumes fund expenses will not change over the periods. Although
your actual costs may be higher or lower, based on these assumptions, your costs would be:
An
International Equity Fund
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John
Hancock
International
Core Fund
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Expenses
($)
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Class R1
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Class R2
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Class R3
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Class R4
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Class R5
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1
Year
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193
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168
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183
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143
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122
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3
Years
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1,681
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3,835
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6,263
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5,958
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3,834
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5
Years
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3,098
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6,426
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8,273
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8,227
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6,443
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10 Years
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6,355
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10,045
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9,204
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9,542
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10,059
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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 53% 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 or sectors that the subadvisor believes will provide higher returns than the MSCI EAFE Index.
Under normal market conditions, the fund invests at least 80%
of its total assets in equity investments. The fund typically invests in equity investments in companies from 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 fund’s portfolio for 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.
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.
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/RetirementPerformance, or by calling 1-888-972-8696 between 8:30 A.M. and
5:00 P.M., Eastern Time, on most business days.
Calendar year total returns
Calendar
year total returns are shown only for Class R1 shares and would be different for other share classes.
Average annual total returns
Performance
of a broad-based market index is included for comparison.
After-tax returns
These
are shown only for Class R1 shares and would be different for other classes. 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.
John
Hancock
International
Core Fund
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Class R1 shares commenced operations on June 12, 2006;
Class R3, Class R4 and Class R5 shares commenced operations on May 22, 2009; and Class R2 shares commenced operations on
March 1, 2012. The returns prior to these dates are those of GMO International Disciplined Equity Fund’s (predecessor
fund) Class III shares (through June 9, 2006), first offered September 16, 2005, and the fund’s Class A shares that in
each case have been recalculated to apply the gross fees and expenses of Class R1, Class R2, Class R3, Class R4 and Class R5
shares, as applicable. Returns for Class R1, Class R2, Class R3, Class R4 and Class R5 shares would have been substantially
similar to returns of Class A shares because the share classes are invested in the same portfolio of securities and returns
would differ only to the extent that expenses of the classes are different.
Calendar year total returns — Class R1
(%)
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Year-to-date total return
The
fund’s total return for the three months ended March 31, 2013 was 2.76%.
Best quarter:
Q2
’09, 20.71%
Worst quarter:
Q3
’11, –19.72%
Average annual total returns
(%)
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1 Year
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5 Year
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Inception
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as of 12-31-12
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9-16-05
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Class R1
before tax
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13.66
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–4.60
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1.67
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After tax on distributions
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13.26
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–5.13
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1.00
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After tax on distributions, with sale
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9.64
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–3.96
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1.32
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Class R2
before tax
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13.68
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–5.42
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0.86
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Class R3
before tax
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13.81
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–7.77
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–4.22
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Class R4
before tax
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14.21
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–7.48
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–3.93
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Class R5
before tax
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14.47
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–7.21
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–3.65
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MSCI EAFE Index (gross of foreign withholding taxes on dividends)
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17.90
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–3.21
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3.32
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Investment management
Investment advisor
John
Hancock Investment Management Services, LLC
Subadvisor
Grantham,
Mayo, Van Otterloo & Co. LLC
Portfolio management
Dr. David Cowan
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Dr. Thomas Hancock
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Co-director of the Global Equity Team
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Co-director of the Global Equity Team
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Joined fund in 2012
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Joined fund at inception
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Purchase and sale of fund shares
There are no minimum initial or subsequent investment requirements
for Class R1, Class R2, Class R3, Class R4 and Class R5 shares of the fund. You may redeem shares of the fund on any business day
by contacting your retirement plan administrator or recordkeeper.
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 66RSP 7-1-13 SEC file number:
811-21777
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