John Hancock Advisers announced Friday the launch of its 13th closed-end fund, a fund that aims to provide a high level of after-tax return from dividend income and capital appreciation.

The John Hancock Tax-Advantaged Dividend Income Fund will invest at least 80% of its assets in common and preferred stock shares that it believes are eligible to pay dividends qualifying for the new lower U.S. federal income taxation rates. Specifically, the fund will focus on utilities and financial services stocks given the favorable tax legislation, current valuations, dividend yields and potential for merger and acquisition activity.

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