John Hancock Preferred Income Fund III

John Hancock Preferred Income Fund III is a closed-end fund designed to provide investors with a high level of current income, while also aiming for capital growth when feasible. Managed by John Hancock Investment Management LLC, the fund primarily invests in preferred securities and other income-generating fixed-income instruments. Its portfolio is diversified across various sectors, with a strong focus on investment-grade preferred stocks, bonds, and other credit instruments. Notably, the fund employs a conservative mixed-asset allocation strategy, typically holding a significant portion in bonds and preferred securities as well as a modest allocation to equities and cash. This fund serves the needs of income-oriented investors, particularly those seeking regular monthly distributions supported by a blend of interest, dividends, and potentially return of capital. Its benchmark comparisons include the Bank of America Merrill Lynch Hybrid Preferred Securities Index and the Barclays U.S. Aggregate Bond Index, reflecting its hybrid approach to fixed income and preferred equity exposure. Since its inception in 2003, the fund has played a notable role in the market by offering access to a specialized segment of the credit market, supporting both individual and institutional portfolio diversification.