John Hancock Preferred Income Fund II Announces Board Changes
January 04, 2017 at 12:08 am IST
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At a meeting on December 6-8, 2016, John Hancock Preferred Income Fund II Board of Trustees appointed Hassell H. McClellan to serve as the Board's Chair, effective January 1, 2017, succeeding James M. Oates, who will continue to serve as a Trustee. In addition, Fund's Board approved the following changes to the Fund's operating committees stated below, effective January 1, 2017: Compliance Committee: Grace K. Fey joins Compliance Committee as Chair, succeeding McClellan, who is no longer a member of Compliance Committee. William H. Cunningham and Deborah C. Jackson continue to serve as members of Compliance Committee. Contracts, Legal & Risk Committee: Oates joins this Committee and Fey is no longer a member of Contracts, Legal & Risk Committee. Steven R. Pruchansky and Gregory A. Russo (Chair) continue to serve as members of Contracts, Legal & Risk Committee. Investment Committee: Oates joins an Investment Sub-Committee as Chair, succeeding Fey in her role as Chair. Jackson, Charles L. Bardelis, Cunningham, and Theron S. Hoffman continue to serve as Chairpersons of the other Investment Sub-Committees.
John Hancock Preferred Income Fund II is a closed-end management investment company. The Fund's primary investment objective is to provide a high level of current income consistent with the preservation of capital. The Fund's secondary investment objective is to provide growth of capital to the extent consistent with its primary investment objective. The Fund seeks to achieve its objectives by investing in a diversified portfolio of securities that may be undervalued relative to similar securities in the marketplace. The Fund invests at least 80% of its assets in preferred stocks and other preferred securities, including convertible preferred securities. The Fund's portfolio sector includes financials, utilities, energy, real estate, communication services, consumer discretionary, healthcare, and consumer staples. John Hancock Investment Management LLC serves as an investment advisor for the Fund.