John Hancock High Yield Municipal Bond Fund Class I is an open-ended mutual fund focused on generating a high level of current income, largely exempt from federal income tax, while aiming to preserve capital. Managed by John Hancock Investment Management, the fund primarily invests in a diversified portfolio of medium- and lower-quality municipal bonds rated A and below or their unrated equivalents. With over 375 holdings, the fund is characterized by exposure to a wide range of issuers and may concentrate its investments in certain states or regions based on the assessment of relative value and creditworthiness. The strategy emphasizes bonds perceived as undervalued using comprehensive analysis of macroeconomic trends, credit profiles, and bond structures. Its performance is benchmarked against the Bloomberg High Yield Municipal Bond Index. The fund maintains a relatively low expense ratio of 0.59% and pays monthly dividends, with a trailing twelve-month yield of approximately 4.96%. Established in 1986, this fund plays a key role in providing access to higher-yielding tax-exempt securities for institutional investors and portfolios seeking enhanced income from the municipal bond sector.
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