JOHN HANCOCK PREFERRED INCOME FUND

A closed-end investment fund headquartered in Boston, John Hancock Preferred Income Fund manages a diversified portfolio spanning U.S. equity and fixed income markets. The fund is launched and managed by John Hancock Investment Management LLC, with co-management from John Hancock Asset Management. Its investment strategy centers on preferred equity securities, convertible preferred securities, and investment-grade fixed income instruments, with holdings weighted across multiple economic sectors. The fund benchmarks performance against the Bank of America Merrill Lynch Hybrid Preferred Securities Index and the Barclays U.S. Aggregate Bond Index, reflecting its dual focus on preferred equity income and credit exposure.

The fund's primary revenue derives from investment management fees charged on assets under management. Its portfolio construction emphasizes income generation through preferred securities rated investment grade or higher by major rating agencies, alongside complementary fixed income allocations. The fund was established in August 2002 and operates as a U.S.-domiciled investment vehicle, maintaining operations through the broader John Hancock Financial Services organization. With a market capitalization of approximately $400 million, the fund represents a relatively modest position within the closed-end fund landscape, serving investors seeking preferred income exposure without direct security selection.