John Hancock Trusts Seek Shareholder Vote to Elect Five Trustees

TL;DR

**Vote FOR the trustee elections; it's a routine governance move that solidifies the board and won't shake up your John Hancock investments.**

AI Summary

John Hancock Municipal Securities Trust, along with 11 other John Hancock Trusts, is holding a special joint meeting of shareholders on November 12, 2025, at 2:00 P.M. Eastern time, at 200 Berkeley Street, Boston, Massachusetts. The primary purpose of this meeting is to elect five trustees to the Board of Trustees for each Trust. The Board currently comprises 12 Trustees, including 10 Independent Trustees and 2 Non-Independent Trustees. Shareholders are being asked to elect two new Independent Trustees, Christine L. Hurtsellers and Kenneth J. Phelan, and to formally elect three current Trustees who were previously appointed: Kristie M. Feinberg (Non-Independent), William K. Bacic (Independent), and Thomas R. Wright (Independent). If all five nominees are elected, the Board will expand to 14 Trustees, consisting of 12 Independent Trustees and 2 Non-Independent Trustees, ensuring all Trustees have been shareholder-elected. This move aims to provide flexibility for the Board to fill future vacancies without immediate shareholder votes, as long as the number of elected Trustees remains above two-thirds of the total. The Board unanimously recommends a 'FOR' vote for all nominees, emphasizing that this is a routine item not expected to materially alter fund management or investment objectives.

Why It Matters

This DEF 14A filing is crucial for investors as it outlines the proposed changes to the governance structure of John Hancock Municipal Securities Trust and its affiliated funds. The election of five trustees, including two new independent members, could influence strategic oversight and decision-making, potentially impacting fund performance and investor confidence. For employees and customers, a stable and well-governed board ensures continuity and adherence to established investment policies. In the competitive asset management landscape, a strong, shareholder-elected board, as proposed, can signal robust corporate governance, differentiating John Hancock from competitors and potentially attracting new capital.

Risk Assessment

Risk Level: low — The filing explicitly states that the proposal for the election of trustees is a 'routine item' and 'is not expected to have any material effect on the manner in which any fund is managed or on its current investment objective.' This indicates a low risk of adverse impact on shareholders' investments or the operational stability of the Trusts.

Analyst Insight

Investors should review the proxy materials and vote 'FOR' the election of the five trustees as recommended by the Board. This action supports the proposed governance structure, which aims to streamline future trustee appointments while maintaining a strong, shareholder-elected board majority.

Key Numbers

• 5 — Number of Trustees to be elected (Includes two new nominees and three current appointed Trustees)
• 12 — Current number of Trustees on the Board (Comprises 10 Independent and 2 Non-Independent Trustees)
• 14 — Total number of Trustees if all nominees are elected (Would comprise 12 Independent and 2 Non-Independent Trustees)
• 2025-11-12 — Date of Special Joint Meeting of Shareholders (Meeting to be held at 2:00 P.M. Eastern time)
• 2025-08-27 — Record Date for shareholder voting eligibility (Shareholders of record on this date can vote)
• 12 — Number of John Hancock Trusts involved (All Trusts are holding a joint meeting)
• 95 — Total number of investment portfolios (Funds) (Across the 12 Trusts as of the Record Date)
• 200 Berkeley Street, Boston, Massachusetts 02116 — Meeting location (Physical address for the Special Joint Meeting of Shareholders)

Key Players & Entities

• JOHN HANCOCK MUNICIPAL SECURITIES TRUST (company) — Registrant for the DEF 14A filing
• Kristie M. Feinberg (person) — President and CEO of Manulife John Hancock Investments, Head of Retail for Manulife Wealth & Asset Management, and a Non-Independent Trustee nominee
• William K. Bacic (person) — Independent Trustee nominee, appointed effective August 1, 2024
• Thomas R. Wright (person) — Independent Trustee nominee, appointed effective August 1, 2024
• Christine L. Hurtsellers (person) — New Independent Trustee nominee
• Kenneth J. Phelan (person) — New Independent Trustee nominee
• Manulife Financial Corporation (company) — Ultimate parent entity of John Hancock Investment Management LLC
• John Hancock Investment Management LLC (company) — Investment Advisor and Administrator for each Trust and Fund
• John Hancock Investment Management Distributors LLC (company) — Distributor for each Fund
• Christopher Sechler (person) — Secretary of the Trusts

FAQ

Industry Context

The mutual fund industry, particularly municipal bond funds like those managed by John Hancock, operates within a highly regulated environment. Competition is intense, with numerous fund providers offering similar investment products. Key trends include a focus on fee compression, increasing demand for ESG (Environmental, Social, and Governance) compliant investments, and the ongoing need for robust governance and shareholder engagement.

Regulatory Implications

The election of trustees is a standard regulatory requirement for registered investment companies. Ensuring a properly constituted Board of Trustees, with a majority of independent members, is crucial for compliance with SEC regulations and for maintaining shareholder confidence. Any changes to the Board structure or composition must adhere to the Investment Company Act of 1940.

What Investors Should Do

1. Vote on the election of five trustees: Shareholders are asked to vote 'FOR' the election of two new Independent Trustees (Christine L. Hurtsellers, Kenneth J. Phelan) and three current Trustees (Kristie M. Feinberg - Non-Independent, William K. Bacic - Independent, Thomas R. Wright - Independent).
2. Vote promptly to avoid additional mailing costs: Shareholders are encouraged to vote by mail, phone, or internet to ensure their vote is counted and to minimize future expenses for the Trust.
3. Review proxy materials: Shareholders should read the provided proxy statement to understand the details of the proposal and the qualifications of the nominees before casting their vote.

Key Dates

• 2025-11-12: Special Joint Meeting of Shareholders — Shareholders will vote on the election of five trustees to the Board of Trustees for each Trust.
• 2025-09-15: Mailing of Proxy Materials — Shareholders receive information and proxy cards for the upcoming meeting.
• 2025-08-27: Record Date for shareholder voting eligibility — Establishes which shareholders are entitled to vote at the meeting.

Glossary

DEF 14A

A filing with the U.S. Securities and Exchange Commission (SEC) that provides detailed information about a company's annual meeting of shareholders, including proposals to be voted on, director nominees, and executive compensation. (This document is the proxy statement for the John Hancock Municipal Securities Trust's shareholder meeting, outlining the proposal for electing trustees.)

Proxy Statement

A document that is sent to shareholders before a shareholder meeting, containing information about the matters to be voted on, such as the election of directors or proposed corporate actions. (This document provides shareholders with the necessary information to make an informed decision on the election of trustees.)

Trustee

A member of the Board of Trustees responsible for overseeing the management and operations of a trust or fund. (The primary purpose of the meeting is to elect five new and re-elect current trustees to the Board.)

Independent Trustee

A trustee who is not an employee of the fund company or its affiliates and has no other relationship that could interfere with their independent judgment. (The proposal includes electing two new Independent Trustees and re-electing three current Trustees, two of whom are Independent.)

Non-Independent Trustee

A trustee who is an employee of the fund company or its affiliates, or has other relationships that may affect their independence. (The current Board has 2 Non-Independent Trustees, and one of the nominees, Kristie M. Feinberg, is also Non-Independent.)

Year-Over-Year Comparison

This filing is a proxy statement for a special meeting focused on trustee elections and does not contain comprehensive financial performance data typically found in annual reports (10-K) or semi-annual reports (10-Q). Therefore, a direct comparison of financial metrics like revenue, net income, or margins to a previous filing is not possible based on this document. The key information relates to corporate governance and board composition.

Filing Documents

• d75344ddef14a.htm (DEF 14A) — 4460KB
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• 0001193125-25-203290.txt ( ) — 5105KB
• S000000651
• C000001874 (JHTFX)
• C000001876 (JCTFX)
• C000178765 (JHYMX)
• C000193018 (JCTRX)
• S000000652
• C000001877 (TAMBX)
• C000001879 (TBMBX)
• C000178766 (JTBDX)
• C000193019 (JTMRX)
• S000076502
• C000236445 (JHSKX)
• C000236446 (JHSFX)
• C000236447 (JHSHX)
• C000236448 (JHSJX)

Legal Proceedings

Legal Proceedings 31 Required Vote 31 Independent Registered Public Accounting Firm 32 Shareholders and Voting Information 39 Other Matters 42 Appendix A - John Hancock Funds Procedures for the Selection of Independent Trustees A-1 Appendix B - Outstanding Shares and Share Ownership B-1 Exhibit A - Procedures for the Selection of New Independent Trustees C-1 1 Table of Contents JOHN HANCOCK BOND TRUST JOHN HANCOCK CALIFORNIA TAX-FREE INCOME FUND JOHN HANCOCK CAPITAL SERIES JOHN HANCOCK COLLATERAL TRUST JOHN HANCOCK CURRENT INTEREST JOHN HANCOCK FUNDS II JOHN HANCOCK FUNDS III JOHN HANCOCK INVESTMENT TRUST JOHN HANCOCK INVESTMENT TRUST II JOHN HANCOCK MUNICIPAL SECURITIES TRUST JOHN HANCOCK SOVEREIGN BOND FUND JOHN HANCOCK STRATEGIC SERIES (each, a "Trust" and collectively, the "Trusts") 200 Berkeley Street Boston, Massachusetts 02116 PROXY STATEMENT SPECIAL JOINT MEETING OF SHAREHOLDERS TO BE HELD NOVEMBER 12, 2025 Introduction This Proxy Statement is furnished in connection with the solicitation by the Board of Trustees (the "Board" or "Trustees") of each Trust of proxies to be used at a Special Joint Meeting of shareholders of the Trusts (the "Meeting") to be held on November 12, 2025 at 2:00 PM Easter n Tim e, at 200 Berkeley Street, Boston, Massachusetts 02116. Pursuant to the Agreement and Declaration of Trust of each Trust (the "Declaration of Trust"), the Board has designated August 27, 2025 as the record date for determining shareholders eligible to vote at the Meeting (the "Record Date"). All shareholders of record at the close of business on the Record Date are entitled to one vote for each share of beneficial interest of Funds held. This Proxy Statement is first being sent to shareholders on or about September 22, 2025. Each Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act"). The shares of each of the

View Full Filing

View this DEF 14A filing on SEC EDGAR