BOSTON, Feb. 15, 2017 /PRNewswire/ -- John Hancock
Advisers, LLC today announced an update to the portfolio management
teams for the following John Hancock closed end funds: Preferred
Income Fund (NYSE: HPI), Preferred Income II Fund (NYSE: HPF)
Preferred Income III Fund (NYSE: HPS), Premium Dividend Fund (NYSE:
PDT) and Tax–Advantaged Dividend Income Fund (NYSE: HTD)
(collectively, the "Funds"). The Funds are advised by John Hancock
Advisers, LLC and sub-advised by John Hancock Asset Management, a
division of Manulife Asset Management (US) LLC (the
"Subadvisor").
Effective today, Brad Lutz, CFA,
joins Greg Phelps and Joseph Bozoyan, CFA, on the portfolio management
team of the Funds.
Brad Lutz is a managing director,
portfolio manager and senior investment analyst for the Subadvisor.
Prior to joining the firm, he held analyst positions at Declaration
Management & Research, Summit Investment Partners and Pacholder
Associates, Inc. He has more than 24 years of experience in the
investment management industry, a B.S. from Miami University and holds the Chartered Financial
Analyst designation.
Additionally, today, Greg Phelps
announced his intention to retire on August
31, 2017. Over the coming months he will continue to
work closely with the investment team to ensure a smooth transition
of management responsibility. Upon Mr. Phelps' retirement, Mr.
Bozoyan and Mr. Lutz will remain as portfolio managers of the
Funds.
Statements in this press release that are not historical
facts are forward-looking statements as defined by the United States securities laws. You should
exercise caution in interpreting and relying on forward-looking
statements because they are subject to uncertainties and other
factors which are, in some cases, beyond a Fund's control and could
cause actual results to differ materially from those set forth in
the forward-looking statements.
An investor should consider a Fund's investment objectives,
risks, charges and expenses carefully before
investing.
About John Hancock Investments
John Hancock
Investments provides asset management services to individuals and
institutions through a unique manager-of-managers approach. A
wealth management business of John Hancock Financial, we managed
more than $135 billion in assets as
of December 31, 2016 across mutual
funds, college savings plans, and retirement plans.
About John Hancock Financial and Manulife
Financial
John Hancock Financial is a division of Manulife
Financial, a leading Canada-based
financial services group with principal operations in Asia, Canada
and the United States. Operating
as Manulife Financial in Canada
and Asia, and primarily as John
Hancock in the United States, the
Company offers clients a diverse range of financial protection
products and wealth management services through its extensive
network of employees, agents and distribution partners. Funds under
management by Manulife Financial and its subsidiaries were
C$977 billion (US$728 billion) as of December 31, 2016. Manulife Financial Corporation
trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the
SEHK. Manulife Financial can be found on the Internet at
manulife.com.
The John Hancock unit, through its insurance companies,
comprises one of the largest life insurers in the United States. John Hancock offers and administers a broad range
of financial products, including life insurance, annuities, fixed
products, mutual funds, 401(k) plans, college savings, and other
forms of business insurance. Additional information about John
Hancock may be found at johnhancock.com.
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SOURCE John Hancock Investments