John Hancock Hopes to Reclassify Real Estate Fund

John Hancock Funds of Boston wants to reclassify its real estate fund as a sector fund. The fund's directors are asking shareholders to approve a change that would move the fund from the growth and income category, according to a preliminary proxy statement filed with the SEC Aug. 13. The proposal does not propose a change in investment strategy. If shareholders approve the change, John Hancock plans to offer the real estate fund in a consolidated prospectus which includes all John Hancock sector funds. John Hancock believes including the real estate fund in the consolidated prospectus will increase sales, according to the filing. A vote on the change is scheduled for Oct. 13.