John Hancock Funds has recently launched its eighth closed-end fund and its 12th closed-end fund in total.

The John Hancock Preferred Income Fund III will seek high current income consistent with capital appreciation by investing at least 80% of its total assets in a diversified portfolio of investment-grade preferred and other fixed income securities. The offering period for the fund began May 28 and will continue through June 24. The Preferred Income Fund III intends to focus on investments in the utilities sector, and may invest up to 25% of its assets in this realm.

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