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Share Name | Share Symbol | Market | Type |
---|---|---|---|
John Hancock Premium Dividend Fund | NYSE:PDT | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.21 | 1.82% | 11.73 | 11.74 | 11.60 | 11.61 | 126,871 | 01:00:00 |
John Hancock Financial Services | |
U.S. Wealth Management 200 Berkeley Street Boston, MA 02116 |
March 26, 2020
Securities and Exchange Commission
Washington, DC 20549
RE: | John Hancock Bond Trust (File No. 811-03006) |
John Hancock Collateral Trust (File No. 811-23027) | |
John Hancock California Tax-Free Income Fund (File No. 811-05979) | |
John Hancock Capital Series (File No. 811-01677) | |
John Hancock Current Interest (File No. 811-02485) | |
John Hancock Exchange-Traded Fund Trust (File No. 811-22733) | |
John Hancock Financial Opportunities Fund (file No. 811-08568) | |
John Hancock Funds II (File No. 811-21779) | |
John Hancock Funds III (File No. 811-21777) | |
John Hancock Hedged Equity & Income Fund (File No. 811-22441) | |
John Hancock Income Securities Trust (File No. 811-04186) | |
John Hancock Investment Trust (File No. 811-00560) | |
John Hancock Investment Trust II (File No. 811-03999) | |
John Hancock Investors Trust (File No. 811-04173) | |
John Hancock Municipal Securities Trust (File No. 811-05968) | |
John Hancock Preferred Income Fund (File No. 811-21131) | |
John Hancock Preferred Income Fund II (File No. 811-21202) | |
John Hancock Preferred Income Fund III (File No. 811-21287) | |
John Hancock Premium Dividend Fund (File No. 811-05908) | |
John Hancock Sovereign Bond Fund (File No. 811-02402) | |
John Hancock Strategic Series (File No. 811-04651) | |
John Hancock Tax-Advantaged Dividend Income Fund (File No. 811-21416) | |
John Hancock Tax-Advantaged Global Shareholder Yield Fund (File No. 811-22056) | |
John Hancock Variable Insurance Trust (File No. 811-04146) | |
(collectively the “Registrants” or the “Assured”) |
Dear Sir/Madam:
On behalf of the Registrants, enclosed for filing, pursuant to Rule 17g-1 under the Investment Company Act of 1940, as amended (the “1940 Act”), are the following documents:
1. | A copy of the Joint Insured Fidelity Bond No. 81906724 issued by Chubb Group of Insurance Companies. |
2. | A copy of Endorsement / Rider No. 1 to the Registrants’ joint bond no. 81906724 regarding compliance with applicable trade sanction laws. |
3. | A copy of Endorsement 2 to the Registrants’ joint bond no. 81906724 regarding name of Assured Endorsement. |
4. | A copy of Endorsement No. 3 to the Registrants’ joint bond no. 81906724 amending Section 13 relating to terminations, non-renewals and notices. |
5. | A copy of Endorsement No. 4 to the Registrants’ joint bond no. 81906724 regarding unauthorized signatures.. |
John Hancock Financial Services | |
U.S. Wealth Management 200 Berkeley Street Boston, MA 02116 |
6. | A copy of Endorsement No. 5 to the Registrants’ joint bond no. 81906724 regarding automated telephone transactions. |
7. | A copy of Endorsement No. 6 to the Registrants’ joint bond no. 81906724 regarding telefacsimile instructions. |
8. | A copy of Endorsement No. 7 to the Registrants’ joint bond no. 81906724 regarding stop payment orders or refusals to pay checks. |
9. | A copy of Endorsement No. 8 to the Registrants’ joint bond no. 81906724 regarding extended computer systems’ electronic data, electronic media, and electronic instruction. |
10. | A copy of Endorsement / Rider No. 9 to the Registrants’ joint bond no. 81906724 regarding automatic increase in limits. |
11. | A copy of Endorsement / Rider No. 10 to the Registrants’ joint bond no. 81906724 regarding definition of employee endorsement. |
12. | A copy of Endorsement / Rider No. 11 to the Registrants’ joint bond no. 81906724 regarding deleting valuation, other property and amending change or modification. |
13. | A copy of Endorsement No. 12 to the Registrant’s joint bond no. 81906724 regarding amending name of assured relating to new funds. |
14. | A copy of Endorsement / Rider No. 13 to the Registrants’ joint bond no. 81906724 regarding amending discovery and notice. |
15. | A copy of Endorsement No. 14 to the Registrant’s joint bond no. 81906724 regarding limits of liability-deductible amounts. |
16. | A copy of the Excess Joint Insured Fidelity Bond No. 87142117B issued by ICI Mutual Insurance Company. |
17. | A copy of Rider No. 1 to the Registrant’s joint bond no. 87142117B regarding requirements of the Terrorism Risk Insurance Act of 2002, as amended. |
18. | A copy of the Excess Joint Insured Fidelity Bond No. 87142118B issued by Continental Casualty Company. |
19. | A copy of the resolutions of the Board of Trustees approving the bonds. |
20. | A copy of the agreement among the Registrants entered into pursuant to paragraph (f) of Regulation 17g-1. |
21. | A statement showing the single bond amount (if the Registrants had not been named as an insured under this joint insured bond). |
22. | A statement showing that premiums have been paid for the period December 31, 2019 to December 31, 2020. |
John Hancock Financial Services | |
U.S. Wealth Management 200 Berkeley Street Boston, MA 02116 |
Sincerely, | |||
/s/ Betsy Anne Seel | |||
Betsy Anne Seel | |||
Assistant Secretary |
/s/ Brandon M. Peene | /s/ Paul J. Krump | |
Secretary | President | |
/s/ Paul N. Morrissette | ||
Countersigned by March 23, 2020 | Authorized Representative |
ICAP Bond (5-98) - Federal | |
Form 17-02-1421 (Ed. 5-98) | Page 1 of 1 |
The COMPANY, in consideration of payment of the required premium, and in reliance | ||||||
on the APPLICATION and all other statements made and information furnished to the | ||||||
COMPANY by the ASSURED, and subject to the DECLARATIONS made a part of this | ||||||
Bond and to all other terms and conditions of this Bond, agrees to pay the ASSURED | ||||||
for: | ||||||
Insuring Clauses | ||||||
Employee | 1 | . | Loss resulting directly from Larceny or Embezzlement committed by any Employee, alone or in collusion with others. | |||
On Premises | 2 | . | Loss of Property resulting directly from robbery, burglary, false pretenses, | |||
common law or statutory larceny, misplacement, mysterious unexplainable | ||||||
disappearance, damage, destruction or removal, from the possession, custody or | ||||||
control of the ASSURED, while such Property is lodged or deposited at premises | ||||||
located anywhere. | ||||||
In Transit | 3 | . | Loss of Property resulting directly from common law or statutory larceny, | |||
misplacement, mysterious unexplainable disappearance, damage or destruction, | ||||||
while the Property is in transit anywhere: | ||||||
a. | in an armored motor vehicle, including loading and unloading thereof, | |||||
b. | in the custody of a natural person acting as a messenger of the ASSURED, | |||||
or | ||||||
c. | in the custody of a Transportation Company and being transported in a | |||||
conveyance other than an armored motor vehicle provided, however, that | ||||||
covered Property transported in such manner is limited to the following: | ||||||
(1) | written records, | |||||
(2) | securities issued in registered form, which are not endorsed or are restrictively endorsed, or | |||||
(3) | negotiable instruments not payable to bearer, which are not endorsed | |||||
or are restrictively endorsed. | ||||||
Coverage under this INSURING CLAUSE begins immediately on the receipt of | ||||||
such Property by the natural person or Transportation Company and ends | ||||||
immediately on delivery to the premises of the addressee or to any representative | ||||||
of the addressee located anywhere. |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 1 of 19 |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 2 of 19 |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 3 of 19 |
Insuring Clauses | ||||
(continued) | ||||
Voice Initiated Funds | 9 | . | Loss resulting directly from Voice Initiated Funds Transfer Instruction directed | |
Transfer Instruction | to the ASSURED authorizing the transfer of dividends or redemption proceeds of | |||
Investment Company shares from a Customer's account, provided such Voice | ||||
Initiated Funds Transfer Instruction was: | ||||
a. | received at the ASSURED'S offices by those Employees of the ASSURED | |||
specifically authorized to receive the Voice Initiated Funds Transfer | ||||
Instruction, | ||||
b. | made by a person purporting to be a Customer, and | |||
c. | made by said person for the purpose of causing the ASSURED or Customer | |||
to sustain a loss or making an improper personal financial gain for such | ||||
person or any other person. | ||||
In order for coverage to apply under this INSURING CLAUSE, all Voice Initiated | ||||
Funds Transfer Instructions must be received and processed in accordance with the Designated Procedures outlined in the APPLICATION furnished to the | ||||
COMPANY. | ||||
Uncollectible Items of | 10 | . | Loss resulting directly from the ASSURED having credited an account of a | |
Deposit | customer, shareholder or subscriber on the faith of any Items of Deposit which | |||
prove to be uncollectible, provided that the crediting of such account causes: | ||||
a. | redemptions or withdrawals to be permitted, | |||
b. | shares to be issued, or | |||
c. | dividends to be paid, from an account of an Investment Company. | |||
In order for coverage to apply under this INSURING CLAUSE, the ASSURED | ||||
must hold Items of Deposit for the minimum number of days stated in the | ||||
APPLICATION before permitting any redemptions or withdrawals, issuing any | ||||
shares or paying any dividends with respect to such Items of Deposit. | ||||
Items of Deposit shall not be deemed uncollectible until the ASSURED'S | ||||
standard collection procedures have failed. | ||||
Audit Expense | 11 | . | Expense incurred by the ASSURED for that part of the cost of audits or | |
examinations required by any governmental regulatory authority or self -regulatory | ||||
organization to be conducted by such authority, organization or their appointee by | ||||
reason of the discovery of loss sustained by the ASSURED and covered by this | ||||
Bond. |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 4 of 19 |
General Agreements | ||||
Additional Companies | A. | If more than one corporation, or Investment Company, or any combination of | ||
Included As Assured | them is included as the ASSURED herein: | |||
(1) | The total liability of the COMPANY under this Bond for loss or losses | |||
sustained by any one or more or all of them shall not exceed the limit for | ||||
which the COMPANY would be liable under this Bond if all such loss were | ||||
sustained by any one of them. | ||||
(2) | Only the first named ASSURED shall be deemed to be the sole agent of the | |||
others for all purposes under this Bond, including but not limited to the giving | ||||
or receiving of any notice or proof required to be given and for the purpose of | ||||
effecting or accepting any amendments to or termination of this Bond. The | ||||
COMPANY shall furnish each Investment Company with a copy of the | ||||
Bond and with any amendment thereto, together with a copy of each formal | ||||
filing of claim by any other named ASSURED and notification of the terms of | ||||
the settlement of each such claim prior to the execution of such settlement. | ||||
(3) | The COMPANY shall not be responsible for the proper application of any | |||
payment made hereunder to the first named ASSURED. | ||||
(4) | Knowledge possessed or discovery made by any partner, director, trustee, | |||
officer or supervisory employee of any ASSURED shall constitute knowledge | ||||
or discovery by all the ASSUREDS for the purposes of this Bond. | ||||
(5) | If the first named ASSURED ceases for any reason to be covered under this | |||
Bond, then the ASSURED next named on the APPLICATION shall thereafter | ||||
be considered as the first named ASSURED for the purposes of this Bond. | ||||
Representation Made By | B. | The ASSURED represents that all information it has furnished in the | ||
Assured | APPLICATION for this Bond or otherwise is complete, true and correct. Such | |||
APPLICATION and other information constitute part of this Bond. | ||||
The ASSURED must promptly notify the COMPANY of any change in any fact or | ||||
circumstance which materially affects the risk assumed by the COMPANY under | ||||
this Bond. | ||||
Any intentional misrepresentation, omission, concealment or incorrect statement of | ||||
a material fact, in the APPLICATION or otherwise, shall be grounds for recision of | ||||
this Bond. |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 5 of 19 |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 6 of 19 |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 7 of 19 |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 8 of 19 |
Conditions and | ||||
Limitations | ||||
Definitions | (8 | ) | each natural person, partnership or corporation authorized by written | |
(continued) | agreement with the ASSURED to perform services as electronic data | |||
processor of checks or other accounting records related to such checks but | ||||
only while such person, partnership or corporation is actually performing | ||||
such services and not: | ||||
a. | creating, preparing, modifying or maintaining the ASSURED'S | |||
computer software or programs, or | ||||
b. | acting as transfer agent or in any other agency capacity in issuing | |||
checks, drafts or securities for the ASSURED, | ||||
(9 | ) | any partner, officer or employee of an investment advisor, an underwriter | ||
(distributor), a transfer agent or shareholder accounting recordkeeper, or an | ||||
administrator, for an Investment Company while performing acts coming | ||||
within the scope of the customary and usual duties of an officer or employee | ||||
of an Investment Company or acting as a member of any committee duly | ||||
elected or appointed to examine, audit or have custody of or access to | ||||
Property of an Investment Company. | ||||
The term Employee shall not include any partner, officer or employee of a | ||||
transfer agent, shareholder accounting recordkeeper or administrator: | ||||
a. | which is not an "affiliated person" (as defined in Section 2(a) of the | |||
Investment Company Act of 1940) of an Investment Company or of | ||||
the investment advisor or underwriter (distributor) of such Investment | ||||
Company, or | ||||
b. | which is a "bank" (as defined in Section 2(a) of the Investment Company Act of 1940). | |||
This Bond does not afford coverage in favor of the employers of | ||||
persons as set forth in e. (4), (5) and (8) above, and upon payment to | ||||
the ASSURED by the COMPANY resulting directly from Larceny or | ||||
Embezzlement committed by any of the partners, officers or | ||||
employees of such employers, whether acting alone or in collusion with | ||||
others, an assignment of such of the ASSURED'S rights and causes of | ||||
action as it may have against such employers by reason of such acts | ||||
so committed shall, to the extent of such payment, be given by the | ||||
ASSURED to the COMPANY, and the ASSURED shall execute all | ||||
papers necessary to secure to the COMPANY the rights provided for | ||||
herein. | ||||
Each employer of persons as set forth in e.(4), (5) and (8) above and the | ||||
partners, officers and other employees of such employers shall collectively | ||||
be deemed to be one person for all the purposes of this Bond; excepting, | ||||
however, the fifth paragraph of Section 13. | ||||
Independent contractors not specified in e.(4), (5) or (8) above, | ||||
intermediaries, agents, brokers or other representatives of the same general | ||||
character shall not be considered Employees. |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 9 of 19 |
Conditions and | ||
Limitations | ||
Definitions | f. | Forgery means the signing of the name of another natural person with the |
(continued) | intent to deceive but does not mean a signature which consists in whole or in | |
part of one's own name, with or without authority, in any capacity for any | ||
purpose. | ||
g. | Investment Company means any investment company registered under the | |
Investment Company Act of 1940 and listed under the NAME OF ASSURED | ||
on the DECLARATIONS. | ||
h. | Items of Deposit means one or more checks or drafts drawn upon a | |
financial institution in the United States of America. | ||
i. | Larceny or Embezzlement means larceny or embezzlement as defined in | |
Section 37 of the Investment Company Act of 1940. | ||
j. | Property means money, revenue and other stamps; securities; including any | |
note, stock, treasury stock, bond, debenture, evidence of indebtedness, | ||
certificate of deposit, certificate of interest or participation in any profit- | ||
sharing agreement, collateral trust certificate, preorganization certificate or | ||
subscription, transferable share, investment contract, voting trust certificate, | ||
certificate of deposit for a security, fractional undivided interest in oil, gas, or | ||
other mineral rights, any interest or instruments commonly known as a | ||
security under the Investment Company Act of 1940, any other certificate of | ||
interest or participation in, temporary or interim certificate for, receipt for, | ||
guarantee of, or warrant or right to subscribe to or purchase any of the | ||
foregoing; bills of exchange; acceptances; checks; withdrawal orders; money | ||
orders; travelers' letters of credit; bills of lading; abstracts of title; insurance | ||
policies, deeds, mortgages on real estate and/or upon chattels and interests | ||
therein; assignments of such policies, deeds or mortgages; other valuable | ||
papers, including books of accounts and other records used by the | ||
ASSURED in the conduct of its business (but excluding all electronic data | ||
processing records); and, all other instruments similar to or in the nature of | ||
the foregoing in which the ASSURED acquired an interest at the time of the | ||
ASSURED'S consolidation or merger with, or purchase of the principal | ||
assets of, a predecessor or which are held by the ASSURED for any | ||
purpose or in any capacity and whether so held gratuitously or not and | ||
whether or not the ASSURED is liable therefor. | ||
k. | Relative means the spouse of an Employee or partner of the ASSURED | |
and any unmarried child supported wholly by, or living in the home of, such | ||
Employee or partner and being related to them by blood, marriage or legal | ||
guardianship. | ||
l. | Securities, documents or other written instruments means original | |
(including original counterparts) negotiable or non-negotiable instruments, or | ||
assignments thereof, which in and of themselves represent an equitable | ||
interest, ownership, or debt and which are in the ordinary course of business | ||
transferable by delivery of such instruments with any necessary | ||
endorsements or assignments. |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 10 of 19 |
Conditions and | ||||
Limitations | ||||
Definitions | m. | Subsidiary means any organization that, at the inception date of this Bond, | ||
(continued) | is named in the APPLICATION or is created during the BOND PERIOD and | |||
of which more than fifty percent (50%) of the outstanding securities or voting | ||||
rights representing the present right to vote for election of directors is owned | ||||
or controlled by the ASSURED either directly or through one or more of its | ||||
subsidiaries. | ||||
n. | Transportation Company means any organization which provides its own | |||
or its leased vehicles for transportation or which provides freight forwarding | ||||
or air express services. | ||||
o. | Voice Initiated Election means any election concerning dividend options | |||
available to Investment Company shareholders or subscribers which is | ||||
requested by voice over the telephone. | ||||
p. | Voice Initiated Redemption means any redemption of shares issued by an | |||
Investment Company which is requested by voice over the telephone. | ||||
q. | Voice Initiated Funds Transfer Instruction means any Voice Initiated | |||
Redemption or Voice Initiated Election. | ||||
For the purposes of these definitions, the singular includes the plural and the | ||||
plural includes the singular, unless otherwise indicated. | ||||
General Exclusions - | 2 | . | This bond does not directly or indirectly cover: | |
Applicable to All Insuring | a. | loss not reported to the COMPANY in writing within sixty (60) days after | ||
Clauses | termination of this Bond as an entirety; | |||
b. | loss due to riot or civil commotion outside the United States of America and | |||
Canada, or any loss due to military, naval or usurped power, war or | ||||
insurrection. This Section 2.b., however, shall not apply to loss which occurs | ||||
in transit in the circumstances recited in INSURING CLAUSE 3., provided | ||||
that when such transit was initiated there was no knowledge on the part of | ||||
any person acting for the ASSURED of such riot, civil commotion, military, | ||||
naval or usurped power, war or insurrection; | ||||
c. | loss resulting from the effects of nuclear fission or fusion or radioactivity; | |||
d. | loss of potential income including, but not limited to, interest and dividends | |||
not realized by the ASSURED or by any customer of the ASSURED; | ||||
e. | damages of any type for which the ASSURED is legally liable, except | |||
compensatory damages, but not multiples thereof, arising from a loss | ||||
covered under this Bond; | ||||
f. | costs, fees and expenses incurred by the ASSURED in establishing the | |||
existence of or amount of loss under this Bond, except to the extent covered | ||||
under INSURING CLAUSE 11.; | ||||
g. | loss resulting from indirect or consequential loss of any nature; |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 11 of 19 |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 12 of 19 |
Conditions and | ||||||||
Limitations | ||||||||
Specific Exclusions - | f. | loss resulting from the failure for any reason of a financial or depository | ||||||
Applicable To All Insuring | institution, its receiver or other liquidator to pay or deliver funds or other | |||||||
Clauses Except Insuring | Property to the ASSURED provided further that this Section 3.f. shall not | |||||||
Clause 1. | apply to loss of Property resulting directly from robbery, burglary, | |||||||
(continued) | misplacement, mysterious unexplainable disappearance, damage, | |||||||
destruction or removal from the possession, custody or control of the | ||||||||
ASSURED. | ||||||||
g. | loss of Property while in the custody of a Transportation Company, | |||||||
provided however, that this Section 3.g. shall not apply to INSURING | ||||||||
CLAUSE 3.; | ||||||||
h. | loss resulting from entries or changes made by a natural person with | |||||||
authorized access to a Computer System who acts in good faith on | ||||||||
instructions, unless such instructions are given to that person by a software | ||||||||
contractor or its partner, officer, or employee authorized by the ASSURED to design, develop, prepare, supply, service, write or implement programs for the ASSURED's Computer System; or | ||||||||
i. | loss resulting directly or indirectly from the input of data into a Computer | |||||||
System terminal, either on the premises of the customer of the ASSURED | ||||||||
or under the control of such a customer, by a customer or other person who | ||||||||
had authorized access to the customer's authentication mechanism. | ||||||||
Specific Exclusions - | 4 | . | This bond does not directly or indirectly cover: | |||||
Applicable To All Insuring | a. | loss resulting from the complete or partial non-payment of or default on any | ||||||
Clauses Except Insuring | loan whether such loan was procured in good faith or through trick, artifice, | |||||||
Clauses 1., 4., And 5. | fraud or false pretenses; provided, however, this Section 4.a. shall not apply | |||||||
to INSURING CLAUSE 8.; | ||||||||
b. | loss resulting from forgery or any alteration; | |||||||
c. | loss involving a counterfeit provided, however, this Section 4.c. shall not | |||||||
apply to INSURING CLAUSE 5. or 6. | ||||||||
Limit Of Liability/Non- | 5 | . | At all times prior to termination of this Bond, this Bond shall continue in force for | |||||
Reduction And Non- | the limit stated in the applicable sections of ITEM 2. of the DECLARATIONS, | |||||||
Accumulation Of Liability | notwithstanding any previous loss for which the COMPANY may have paid or be | |||||||
liable to pay under this Bond provided, however, that the liability of the COMPANY under this Bond with respect to all loss resulting from: | ||||||||
a. | any one act of burglary, robbery or hold-up, or attempt thereat, in which no | |||||||
Employee is concerned or implicated, or | ||||||||
b. | any one unintentional or negligent act on the part of any one person | |||||||
resulting in damage to or destruction or misplacement of Property, or | ||||||||
c. | all acts, other than those specified in a. above, of any one person, or |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 13 of 19 |
Conditions and | ||||
Limitations | ||||
Limit Of Liability/Non- | d. | any one casualty or event other than those specified in a., b., or c. above, | ||
Reduction And Non- | shall be deemed to be one loss and shall be limited to the applicable LIMIT OF | |||
Accumulation Of Liability | LIABILITY stated in ITEM 2. of the DECLARATIONS of this Bond irrespective of | |||
(continued) | the total amount of such loss or losses and shall not be cumulative in amounts | |||
from year to year or from period to period. | ||||
All acts, as specified in c. above, of any one person which | ||||
i. | directly or indirectly aid in any way wrongful acts of any other person or | |||
persons, or | ||||
ii. | permit the continuation of wrongful acts of any other person or persons | |||
whether such acts are committed with or without the knowledge of the wrongful | ||||
acts of the person so aided, and whether such acts are committed with or without | ||||
the intent to aid such other person, shall be deemed to be one loss with the | ||||
wrongful acts of all persons so aided. | ||||
Discovery | 6 | . | This Bond applies only to loss first discovered by an officer of the ASSURED | |
during the BOND PERIOD. Discovery occurs at the earlier of an officer of the | ||||
ASSURED being aware of: | ||||
a. | facts which may subsequently result in a loss of a type covered by this Bond, | |||
or | ||||
b. | an actual or potential claim in which it is alleged that the ASSURED is liable | |||
to a third party, | ||||
regardless of when the act or acts causing or contributing to such loss occurred, | ||||
even though the amount of loss does not exceed the applicable DEDUCTIBLE | ||||
AMOUNT, or the exact amount or details of loss may not then be known. | ||||
Notice To Company - | 7 | . | a. | The ASSURED shall give the COMPANY notice thereof at the earliest |
Proof - Legal Proceedings | practicable moment, not to exceed sixty (60) days after discovery of loss, in | |||
Against Company | an amount that is in excess of 50% of the applicable DEDUCTIBLE | |||
AMOUNT, as stated in ITEM 2. of the DECLARATIONS. | ||||
b. | The ASSURED shall furnish to the COMPANY proof of loss, duly sworn to, | |||
with full particulars within six (6) months after such discovery. | ||||
c. | Securities listed in a proof of loss shall be identified by certificate or bond | |||
numbers, if issued with them. | ||||
d. | Legal proceedings for the recovery of any loss under this Bond shall not be | |||
brought prior to the expiration of sixty (60) days after the proof of loss is filed | ||||
with the COMPANY or after the expiration of twenty -four (24) months from | ||||
the discovery of such loss. | ||||
e. | This Bond affords coverage only in favor of the ASSURED. No claim, suit, | |||
action or legal proceedings shall be brought under this Bond by anyone | ||||
other than the ASSURED. |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 14 of 19 |
Conditions and | ||||
Limitations | ||||
Notice To Company - | f. | Proof of loss involving Voice Initiated Funds Transfer Instruction shall | ||
Proof - Legal Proceedings | include electronic recordings of such instructions. | |||
Against Company | ||||
(continued) | ||||
Deductible Amount | 8 | . | The COMPANY shall not be liable under any INSURING CLAUSES of this Bond | |
on account of loss unless the amount of such loss, after deducting the net amount | ||||
of all reimbursement and/or recovery obtained or made by the ASSURED, other | ||||
than from any Bond or policy of insurance issued by an insurance company and | ||||
covering such loss, or by the COMPANY on account thereof prior to payment by | ||||
the COMPANY of such loss, shall exceed the DEDUCTIBLE AMOUNT set forth in | ||||
ITEM 3. of the DECLARATIONS, and then for such excess only, but in no event | ||||
for more than the applicable LIMITS OF LIABILITY stated in ITEM 2. of the | ||||
DECLARATIONS. | ||||
There shall be no deductible applicable to any loss under INSURING CLAUSE 1. | ||||
sustained by any Investment Company. | ||||
Valuation | 9 | . | BOOKS OF ACCOUNT OR OTHER RECORDS | |
The value of any loss of Property consisting of books of account or other records | ||||
used by the ASSURED in the conduct of its business shall be the amount paid by | ||||
the ASSURED for blank books, blank pages, or other materials which replace the | ||||
lost books of account or other records, plus the cost of labor paid by the | ||||
ASSURED for the actual transcription or copying of data to reproduce such books | ||||
of account or other records. | ||||
The value of any loss of Property other than books of account or other records | ||||
used by the ASSURED in the conduct of its business, for which a claim is made | ||||
shall be determined by the average market value of such Property on the | ||||
business day immediately preceding discovery of such loss provided, however, | ||||
that the value of any Property replaced by the ASSURED with the consent of the | ||||
COMPANY and prior to the settlement of any claim for such Property shall be the actual market value at the time of replacement. | ||||
In the case of a loss of interim certificates, warrants, rights or other securities, the | ||||
production of which is necessary to the exercise of subscription, conversion, | ||||
redemption or deposit privileges, the value of them shall be the market value of | ||||
such privileges immediately preceding their expiration if said loss is not discovered | ||||
until after their expiration. If no market price is quoted for such Property or for | ||||
such privileges, the value shall be fixed by agreement between the parties. | ||||
OTHER PROPERTY | ||||
The value of any loss of Property, other than as stated above, shall be the actual | ||||
cash value or the cost of repairing or replacing such Property with Property of | ||||
like quality and value, whichever is less. |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 15 of 19 |
Conditions and | ||||
Limitations | ||||
(continued) | ||||
Securities Settlement | 10 | . | In the event of a loss of securities covered under this Bond, the COMPANY may, | |
at its sole discretion, purchase replacement securities, tender the value of the | ||||
securities in money, or issue its indemnity to effect replacement securities. | ||||
The indemnity required from the ASSURED under the terms of this Section | ||||
against all loss, cost or expense arising from the replacement of securities by the | ||||
COMPANY'S indemnity shall be: | ||||
a. | for securities having a value less than or equal to the applicable | |||
DEDUCTIBLE AMOUNT - one hundred (100%) percent; | ||||
b. | for securities having a value in excess of the DEDUCTIBLE AMOUNT but | |||
within the applicable LIMIT OF LIABILITY - the percentage that the | ||||
DEDUCTIBLE AMOUNT bears to the value of the securities; | ||||
c. | for securities having a value greater than the applicable LIMIT OF LIABILITY | |||
- the percentage that the DEDUCTIBLE AMOUNT and portion in excess of | ||||
the applicable LIMIT OF LIABILITY bears to the value of the securities. | ||||
The value referred to in Section 10.a., b., and c. is the value in accordance with | ||||
Section 9, Valuation, regardless of the value of such securities at the time the loss under the COMPANY'S indemnity is sustained. | ||||
The COMPANY is not required to issue its indemnity for any portion of a loss of | ||||
securities which is not covered by this Bond; however, the COMPANY may do so | ||||
as a courtesy to the ASSURED and at its sole discretion. | ||||
The ASSURED shall pay the proportion of the Company's premium charge for the | ||||
Company's indemnity as set forth in Section 10.a., b., and c. No portion of the | ||||
LIMIT OF LIABILITY shall be used as payment of premium for any indemnity | ||||
purchased by the ASSURED to obtain replacement securities. | ||||
Subrogation - Assignment – 11. | In the event of a payment under this Bond, the COMPANY shall be subrogated to | |||
Recovery | all of the ASSURED'S rights of recovery against any person or entity to the extent | |||
of such payment. On request, the ASSURED shall deliver to the COMPANY an | ||||
assignment of the ASSURED'S rights, title and interest and causes of action | ||||
against any person or entity to the extent of such payment. | ||||
Recoveries, whether effected by the COMPANY or by the ASSURED, shall be | ||||
applied net of the expense of such recovery in the following order: | ||||
a. | first, to the satisfaction of the ASSURED'S loss which would otherwise have | |||
been paid but for the fact that it is in excess of the applicable LIMIT OF | ||||
LIABILITY, | ||||
b. | second, to the COMPANY in satisfaction of amounts paid in settlement of | |||
the ASSURED'S claim, | ||||
c. | third, to the ASSURED in satisfaction of the applicable DEDUCTIBLE | |||
AMOUNT, and |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 16 of 19 |
Conditions and | ||||
Limitations | ||||
Subrogation - Assignment – | d. | fourth, to the ASSURED in satisfaction of any loss suffered by the | ||
Recovery | ASSURED which was not covered under this Bond. | |||
(continued) | Recovery from reinsurance or indemnity of the COMPANY shall not be deemed a | |||
recovery under this section. | ||||
Cooperation Of Assured | 12 | . | At the COMPANY'S request and at reasonable times and places designated by | |
the COMPANY, the ASSURED shall: | ||||
a. | submit to examination by the COMPANY and subscribe to the same under | |||
oath, | ||||
b. | produce for the COMPANY'S examination all pertinent records, and | |||
c. | cooperate with the COMPANY in all matters pertaining to the loss. | |||
The ASSURED shall execute all papers and render assistance to secure to the | ||||
COMPANY the rights and causes of action provided for under this Bond. The | ||||
ASSURED shall do nothing after loss to prejudice such rights or causes of action. | ||||
Termination | 13 | . | If the Bond is for a sole ASSURED, it shall not be terminated unless written notice | |
shall have been given by the acting party to the affected party and to the | ||||
Securities and Exchange Commission, Washington, D.C., not less than sixty (60) | ||||
days prior to the effective date of such termination. | ||||
If the Bond is for a joint ASSURED, it shall not be terminated unless written notice | ||||
shall have been given by the acting party to the affected party, and by the | ||||
COMPANY to all ASSURED Investment Companies and to the Securities and | ||||
Exchange Commission, Washington, D.C., not less than sixty (60) days prior to | ||||
the effective date of such termination. | ||||
This Bond will terminate as to any one ASSURED, other than an Investment | ||||
Company: | ||||
a. | immediately on the taking over of such ASSURED by a receiver or other | |||
liquidator or by State or Federal officials, or | ||||
b. | immediately on the filing of a petition under any State or Federal statute | |||
relative to bankruptcy or reorganization of the ASSURED, or assignment for | ||||
the benefit of creditors of the ASSURED, or | ||||
c. | immediately upon such ASSURED ceasing to exist, whether through merger | |||
into another entity, disposition of all of its assets or otherwise. | ||||
The COMPANY shall refund the unearned premium computed at short rates in | ||||
accordance with the standard short rate cancellation tables if terminated by the | ||||
ASSURED or pro rata if terminated for any other reason. |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 17 of 19 |
Conditions and | ||||
Limitations | ||||
Termination | If any partner, director, trustee, or officer or supervisory employee of an | |||
(continued) | ASSURED not acting in collusion with an Employee learns of any dishonest act | |||
committed by such Employee at any time, whether in the employment of the | ||||
ASSURED or otherwise, whether or not such act is of the type covered under this | ||||
Bond, and whether against the ASSURED or any other person or entity, the | ||||
ASSURED: | ||||
a. | shall immediately remove such Employee from a position that would enable | |||
such Employee to cause the ASSURED to suffer a loss covered by this | ||||
Bond; and | ||||
b. | within forty-eight (48) hours of learning that an Employee has committed | |||
any dishonest act, shall notify the COMPANY, of such action and provide full particulars of such dishonest act. | ||||
The COMPANY may terminate coverage as respects any Employee sixty (60) | ||||
days after written notice is received by each ASSURED Investment Company | ||||
and the Securities and Exchange Commission, Washington, D.C. of its desire to | ||||
terminate this Bond as to such Employee. | ||||
Other Insurance | 14 | . | Coverage under this Bond shall apply only as excess over any valid and collectible insurance, indemnity or suretyship obtained by or on behalf of: | |
a. | the ASSURED, | |||
b. | a Transportation Company, or | |||
c. | another entity on whose premises the loss occurred or which employed the | |||
person causing the loss or engaged the messenger conveying the Property | ||||
involved. | ||||
Conformity | 15 | . | If any limitation within this Bond is prohibited by any law controlling this Bond's | |
construction, such limitation shall be deemed to be amended so as to equal the | ||||
minimum period of limitation provided by such law. | ||||
Change or Modification | 16 | . | This Bond or any instrument amending or affecting this Bond may not be changed | |
or modified orally. No change in or modification of this Bond shall be effective | ||||
except when made by written endorsement to this Bond signed by an authorized representative of the COMPANY. | ||||
If this Bond is for a sole ASSURED, no change or modification which would | ||||
adversely affect the rights of the ASSURED shall be effective prior to sixty (60) | ||||
days after written notice has been furnished to the Securities and Exchange | ||||
Commission, Washington, D.C., by the acting party. |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 18 of 19 |
Conditions And | |
Limitations | |
Change or Modification | If this Bond is for a joint ASSURED, no charge or modification which would |
(continued) | adversely affect the rights of the ASSURED shall be effective prior to sixty (60) |
days after written notice has been furnished to all insured Investment Companies | |
and to the Securities and Exchange Commission, Washington, D.C., by the | |
COMPANY. |
ICAP Bond (5-98) | |
Form 17-02-1421 (Ed. 5-98) | Page 19 of 19 |
/s/ Paul N. Morrissette | ||
Authorized Representative |
14-02-9228 (2/2010)
Page 1
FEDERAL INSURANCE COMPANY | |
Endorsement No: | 2 |
Bond Number: | 81906724 |
NAME OF ASSURED: JOHN HANCOCK FUNDS | |
NAME OF ASSURED ENDORSEMENT | |
It is agreed that the NAME OF ASSURED in the DECLARATIONS is amended to read as follows: | |
JOHN HANCOCK FUNDS listed as the Named Assured on the Declarations Page | |
Includes the following Trusts: | |
500 Index Trust | |
Absolute Return Currency Fund | |
Active Bond Trust | |
Alternative Asset Allocation Fund | |
American Asset Allocation Trust | |
American Global Growth Trust | |
American Growth Trust | |
American Growth-Income Trust | |
American International Trust | |
Asia Pacific Total Return Bond Fund | |
Balanced Fund | |
Blue Chip Growth Fund | |
Blue Chip Growth Trust | |
Bond Fund | |
California Tax-Free Income Fund | |
Capital Appreciation Fund | |
Capital Appreciation Trust | |
Capital Appreciation Value Fund | |
Capital Appreciation Value Trust | |
Classic Value Fund | |
Collateral Trust Fund | |
Core Bond Fund | |
Core Bond Trust | |
Disciplined Alternative Yield Fund | |
Disciplined Value Fund | |
Disciplined Value International Fund | |
Disciplined Value Mid Cap Fund | |
Diversified Macro Fund | |
Diversified Real Assets Fund | |
Diversified Strategies Fund | |
Emerging Markets Debt Fund | |
Emerging Markets Equity Fund | |
Emerging Markets Fund | |
Emerging Markets Value Trust | |
Equity Income Fund | |
Equity Income Trust |
ICAP Bond
Form 17-02-0949 (Rev. 1-97) |
Page 1 |
ESG All Cap Core Fund |
ESG Core Bond Fund |
ESG International Equity Fund |
ESG Large Cap Core Fund |
Financial Industries Fund |
Financial Industries Trust |
Floating Rate Income Fund |
Fundamental All Cap Core Fund |
Fundamental All Cap Core Trust |
Fundamental Global Franchise |
Fundamental Large Cap Core Fund |
Fundamental Large Cap Value Trust |
Global Bond Fund |
Global Bond Trust |
Global Equity Fund |
Global Shareholder Yield Fund |
Global Thematic Opportunities Fund |
Global Trust |
Government Income Fund |
Health Sciences Fund |
Health Sciences Trust |
High Yield Fund |
High Yield Fund |
High Yield Municipal Bond Fund |
High Yield Trust |
Income Allocation Fund |
Income Fund |
International Dynamic Growth Fund |
International Equity Index Trust |
International Growth Fund |
International Growth Stock Fund |
International Growth Stock Trust |
International Small Cap Fund |
International Small Company Fund |
International Small Company Trust |
International Strategic Equity Allocation Fund |
International Value Fund |
International Value Trust |
Investment Grade Bond Fund |
Investment Quality Bond Trust |
JHF Infrastructure Fund |
John Hancock Financial Opportunities Fund |
John Hancock GA Mortgage Trust |
John Hancock Hedged Equity & Income Fund |
John Hancock Income Securities Trust |
John Hancock Investors Trust |
John Hancock Managed Account Shares |
Investment Grade Corporate Bond Portfolio |
John Hancock Managed Account Shares |
Non-Investment Grade Corporate Bond Portfolio |
John Hancock Managed Account Shares |
Securitized Debt Portfolio |
John Hancock Multifactor Consumer |
Discretionary ETF |
John Hancock Multifactor Consumer Staples ETF |
ICAP Bond
Form 17-02-0949 (Ed. 1-97) |
Page 2 |
John Hancock Multifactor Developed International ETF |
John Hancock Multifactor Emerging Markets ETF |
John Hancock Multifactor Energy ETF |
John Hancock Multifactor Financials ETF |
John Hancock Multifactor Healthcare ETF |
John Hancock Multifactor Industrials ETF |
John Hancock Multifactor Large Cap ETF |
John Hancock Multifactor Materials ETF |
John Hancock Multifactor Media and Communications ETF |
John Hancock Multifactor Mid Cap ETF |
John Hancock Multifactor Small Cap ETF |
John Hancock Multifactor Technology ETF |
John Hancock Multifactor Utilities ETF |
John Hancock Preferred Income Fund |
John Hancock Preferred Income Fund II |
John Hancock Preferred Income Fund III |
John Hancock Premium Dividend Fund |
John Hancock Tax-Advantaged Dividend Income Fund |
John Hancock Tax-Advantaged Global Shareholder Yield Fund |
Lifestyle Aggressive Portfolio |
Lifestyle Balanced Portfolio |
Lifestyle Conservative Portfolio |
Lifestyle Growth Portfolio |
Lifestyle Moderate Portfolio |
Managed Volatility Aggressive Portfolio |
Managed Volatility Balanced Portfolio |
Managed Volatility Conservative Portfolio |
Managed Volatility Growth Portfolio |
Managed Volatility Moderate Portfolio |
Mid Cap Index Trust |
Mid Cap Stock Fund |
Mid Cap Stock Trust |
Mid Value Fund |
Mid Value Trust |
Money Market Fund |
Money Market Trust |
Multi-Asset Absolute Return Fund |
Multi-Index 2010 Lifetime Portfolio |
Multi-Index 2015 Lifetime Portfolio |
Multi-Index 2020 Lifetime Portfolio |
Multi-Index 2020 Preservation Portfolio |
Multi-Index 2025 Lifetime Portfolio |
Multi-Index 2025 Preservation Portfolio |
Multi-Index 2030 Lifetime Portfolio |
Multi-Index 2030 Preservation Portfolio |
Multi-Index 2035 Lifetime Portfolio |
Multi-Index 2035 Preservation Portfolio |
Multi-Index 2040 Lifetime Portfolio |
Multi-Index 2040 Preservation Portfolio |
Multi-Index 2045 Lifetime Portfolio |
Multi-Index 2045 Preservation Portfolio |
ICAP Bond
Form 17-02-0949 (Ed. 1-97) |
Page 3 |
Multi-Index 2050 Lifetime Portfolio |
Multi-Index 2050 Preservation Portfolio |
Multi-Index 2055 Lifetime Portfolio |
Multi-Index 2055 Preservation Portfolio |
Multi-Index 2060 Lifetime Portfolio |
Multi-Index 2060 Preservation Portfolio |
Multi-Index Income Preservation Portfolio |
Multi-Index Lifestyle Aggressive Portfolio |
Multi-Index Lifestyle Balanced Portfolio |
Multi-Index Lifestyle Conservative Portfolio |
Multi-Index Lifestyle Growth Portfolio |
Multi-Index Lifestyle Moderate Portfolio |
Multimanager 2010 Lifetime Portfolio |
Multimanager 2015 Lifetime Portfolio |
Multimanager 2020 Lifetime Portfolio |
Multimanager 2025 Lifetime Portfolio |
Multimanager 2030 Lifetime Portfolio |
Multimanager 2035 Lifetime Portfolio |
Multimanager 2040 Lifetime Portfolio |
Multimanager 2045 Lifetime Portfolio |
Multimanager 2050 Lifetime Portfolio |
Multimanager 2055 Lifetime Portfolio |
Multimanager 2060 Lifetime Portfolio |
Multimanager Lifestyle Aggressive Portfolio |
Multimanager Lifestyle Balanced Portfolio |
Multimanager Lifestyle Conservative Portfolio |
Multimanager Lifestyle Growth Portfolio |
Multimanager Lifestyle Moderate Portfolio |
Mutual Shares Trust |
New Opportunities Fund |
Real Estate Securities Fund |
Real Estate Securities Trust |
Real Return Bond Fund |
Regional Bank Fund |
Retirement Income 2040 Fund |
Science & Technology Fund |
Science & Technology Trust |
Seaport Long/Short Fund |
Select Bond Trust |
Short Duration Bond Fund |
Short Duration Credit Opportunities Fund |
Short Term Government Income Trust |
Small Cap Core Fund |
Small Cap Growth Fund |
Small Cap Index Trust |
Small Cap Opportunities Trust |
Small Cap Stock Trust |
Small Cap Value Fund |
Small Cap Value Trust |
Small Company Value Fund |
Small Company Value Trust |
Spectrum Income Fund |
Strategic Equity Allocation Fund |
Strategic Equity Allocation Trust |
Strategic Income Opportunities Fund |
Strategic Income Opportunities Trust |
Tax-Free Bond Fund |
ICAP Bond
Form 17-02-0949 (Ed. 1-97) |
Page 4 |
Total Bond Market Trust |
Total Stock Market Index Trust |
U.S. Global Leaders Growth Fund |
U.S. High Yield Bond Fund |
U.S. Quality Growth Fund |
U.S. Strategic Equity Allocation Fund |
Ultra Short Term Bond Trust |
Utilities Trust |
Value Equity Fund |
This Endorsement applies to loss discovered after 12:01 a.m. on December 31, 2019. |
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED. |
Date: March 23, 2020 | By | /s/ Paul N. Morrissette |
Authorized Representative |
ICAP Bond | |
Form 17-02-0949 (Ed. 1-97) | Page 5 |
ICAP Bond | |
Form 17-02-1360 (Rev. 10-99) | Page 1 |
Bonds In Effect Sixty (60) Days Or Less | ||||
If this Bond has been in effect for sixty (60) days or less, and it is not a renewal Bond, the | ||||
COMPANY may terminate for any reason by providing written notice of termination at least sixty | ||||
(60) days before the effective date of termination. | ||||
Notice Of Termination | ||||
Notice of termination under this Section shall be mailed or delivered, by certified mail, return receipt | ||||
provided by the United States Postal Service, to the ASSURED and to the authorized agent or | ||||
broker, if any, at least sixty (60) days prior to the effective date of cancellation at the address | ||||
shown on the DECLARATIONS of this Bond. | ||||
If this Bond is cancelled for nonpayment of premium, the COMPANY will mail or deliver, by certified | ||||
mail, return receipt provided by the United States Postal Service, a written notice at least thirty | ||||
(30) days before the effective date of cancellation. The cancellation notice shall contain | ||||
information regarding the amount of premium due and the due date, and shall state the effect of | ||||
nonpayment by the due date. Cancellation shall not be effective if payment of the amount due is | ||||
made prior to the effective date of cancellation. | ||||
All notice of cancellation shall state the reason(s) for cancellation. | ||||
There is no liability on the part of, and no cause of action of any nature shall arise against, the | ||||
COMPANY, its authorized representatives, its employees, or any firm, person or corporation | ||||
furnishing to the COMPANY, information relating to the reasons for cancellation or nonrenewal, for | ||||
any statement made by them in complying or enabling the COMPANY to comply with this Section, | ||||
for the provision of information pertaining thereto, or for statements made or evidence submitted at | ||||
any hearings conducted in connection therewith, if such information was provided in good faith and | ||||
without malice. | ||||
Notice Of Nonrenewal | ||||
If the COMPANY elects not to renew this Bond, the COMPANY shall mail or deliver written notice, | ||||
by certified mail, return receipt, provided by the United States Postal Service, to the ASSURED, at | ||||
his last known address, at least sixty (60) days before the expiration date or before the | ||||
anniversary date, if this Bond has been written for a term of more than one (1) year. Such notice | ||||
shall also be mailed to the ASSURED'S agent or broker, if any. | ||||
Such notice shall contain all of the following: | ||||
a. | Bond Number: | |||
b. | Date of Notice; | |||
c. | Reason for Cancellation; | |||
d. | Expiration Date of the Bond; | |||
e. | Effective Date and Hour of Cancellation. | |||
Notice of nonrenewal shall not be required if the COMPANY or a COMPANY within the same | ||||
insurance group has offered to issue a renewal Bond, the ASSURED has obtained replacement | ||||
coverage or has agreed in writing to obtain replacement coverage, the ASSURED has requested | ||||
or agreed to nonrenewal, or the Bond is expressly designated as nonrenewable. |
ICAP Bond | |
Form 17-02-1360 (Rev. 10-99) | Page 2 |
Return Premium Calculations | ||
Any unearned premiums which have been paid by the ASSURED shall be refunded to the | ||
ASSURED on a pro rata basis if terminated by the COMPANY or the ASSURED. The unearned | ||
premiums shall be refunded to the ASSURED within forty -five (45) days of receipt of the request for | ||
cancellation or the effective date of cancellation, whichever is later. | ||
Conditional Renewal | ||
If the COMPANY offers or purports to renew the Bond, but on less favorable terms or at higher | ||
rates, the new terms or higher premiums may take effect on the renewal date, if the COMPANY | ||
mails or delivers by certified mail, return receipt provided by the United States Postal Service, to | ||
the ASSURED, notice of the new terms or premiums at least sixty (60) days prior to the renewal | ||
date. If the COMPANY notifies the ASSURED within sixty (60) days prior to the renewal date, the | ||
new terms or premiums do not take effect until sixty (60) days after the notice is mailed or | ||
delivered, in which case, the ASSURED may elect to cancel the renewal Bond within the sixty (60) | ||
day period. If the COMPANY does not notify the ASSURED of the new terms or premiums, the | ||
COMPANY shall continue the Bond at the expiring terms and premiums until notice is given or until | ||
the effective date of replacement coverage is obtained by the ASSURED, whichever occurs first.” | ||
2 | . | It is further understood and agreed that for the purposes of Section 13., Termination, any |
occurrence listed in this Section shall be considered to be a request by the ASSURED to | ||
immediately terminate this Bond. | ||
This Endorsement applies to loss discovered after 12:01 a.m. on December 31, 2019. | ||
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED. | ||
Date: March 23, 2020 | By | /s/ Paul N. Morrissette |
Authorized Representative |
ICAP Bond | |
Form 17-02-1360 (Rev. 10-99) | Page 3 |
ICAP Bond | |
Form 17-02-5602 (Ed. 10-03) | Page 1 |
t. | Withdrawal Order means a non-negotiable instrument, other than an Instruction, signed by |
a customer of the ASSURED authorizing the ASSURED to debit the customer’s account in the | |
amount of funds stated therein. | |
This Endorsement applies to loss discovered after 12:01 a.m. on December 31, 2019. | |
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED. | |
Date: March 23, 2020 | By | /s/ Paul N. Morrissette |
Authorized Representative |
ICAP Bond | |
Form 17-02-5602 (Ed. 10-03) | Page 2 |
ICAP Bond | |
Form 17-02-2345 (Ed. 10-00) | Page 1 |
(4) | A written confirmation of any APS Transaction or change of address shall be mailed to the shareholder or unitholder to whose account such transaction relates, at the record address, by the end of the insured's next regular processing cycle, but in no event later than five (5) business days following such APS Transaction. (Written Confirmation) | ||||
(5) | Access to the equipment which permits the entity receiving the APS Transaction request to process and effect the transaction shall be limited in the following manner: (Access to APS Equipment) | ||||
v. | APS Election means any election concerning various account features available to the | ||||
shareholder or unitholder which is made through the Automated Phone System by means of | |||||
information transmitted by an individual caller through use of a Automated Phone System. | |||||
These features include account statements, auto exchange, auto asset builder, automatic | |||||
withdrawal, dividend/capital gain options, dividend sweep, telephone balance consent and | |||||
change of address. | |||||
w. | APS Exchange means any exchange of shares or units in a registered account of one fund | ||||
into shares or units in an account with the same tax identification number and same | |||||
ownership-type code of another fund in the same complex pursuant to exchange privileges of | |||||
the two funds, which exchange is requested through the Automated Phone System by | |||||
means of information transmitted by an individual caller through use of an Automated Phone | |||||
System. | |||||
x. | APS Purchase means any purchase of shares or units issued by an Investment Company | ||||
which is requested through an Automated Phone System. | |||||
y. | APS Redemption means any redemption of shares or units issued by an Investment | ||||
Company which it requested through the telephone by means of information transmitted by | |||||
an individual caller through use of a Automated Phone System. | |||||
z. | APS Transaction means any APS Purchase, APS Redemption, APS Election or APS | ||||
Exchange. | |||||
aa. | Automated Phone System means an automated system which receives and converts to | ||||
executable instructions transmissions through the Automated Phone System through use of | |||||
a touch-tone keypad or other tone system; and always excluding transmissions from a | |||||
computer system or part thereof. | |||||
3 | . | By adding the following Section after Section 4., Specific Exclusions-Applicable To All Insuring | |||
Clauses Except 1., 4., 5.: | |||||
Section 4.A Specific Exclusion-Applicable to Insuring Clause 13 | |||||
This Bond does not directly or indirectly cover under Insuring Clause 13: | |||||
Loss resulting from: | |||||
a. | the redemption of shares or units, where the proceeds of such redemption are made payable | ||||
to other than: | |||||
(1) | the shares or units of record, | ||||
(2) | a person designated to receive redemption proceeds, or | ||||
(3) | a bank account designated to receive redemption proceeds, or |
b. | the redemption of shares or units, where the proceeds of such redemption are paid by check mailed to any address, unless such address has either been designated the shareholder or unitholder by voice through an Automated Phone System or in writing, at least thirty (30) days prior to such redemption, or |
ICAP Bond | |
Form 17-02-2345 (Ed. 10-00) | Page 2 |
c. | the redemption of shares or units, where shareholder or unitholder of the ASSURED designated bank account of record. |
This Endorsement applies to loss discovered after 12:01 a.m. on December 31, 2019. | |
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED. | |
Date: March 23, 2020 | By | /s/ Paul N. Morrissette |
Authorized Representative |
ICAP Bond | |
Form 17-02-2345 (Ed. 10-00) | Page 3 |
ICAP Bond | |
Form 17-02-2367 (Rev. 10-03) | Page 1 |
3 | . | By adding to Section 1., Definitions, the following: | ||
bb. | Telefacsimile means a system of transmitting written documents by electronic signals over telephone lines to equipment maintained by the ASSURED for the purpose of reproducing a copy of said document. Telefacsimile does not mean electronic communication sent by Telex or similar means of communication, or through an electronic communication system or through an automated clearing house. | |||
4 | . | By adding to Section 3., Specific Exclusions Applicable to All Insuring Clauses Except Insuring | ||
Clause 1. the following: | ||||
j. | loss resulting directly or indirectly from Telefacsimile instructions provided, however, | |||
this exclusion shall not apply to this INSURING CLAUSE. | ||||
This Endorsement applies to loss discovered after 12:01 a.m. on December 31, 2019. | ||||
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED. | ||||
Date: March 23, 2020 | By | /s/ Paul N. Morrissette |
Authorized Representative |
ICAP Bond | |
Form 17-02-2367 (Rev. 10-03) | Page 2 |
FEDERAL INSURANCE COMPANY | ||||||||
Endorsement No.: | 7 | |||||||
Bond Number: | 81906724 | |||||||
NAME OF ASSURED: JOHN HANCOCK FUNDS | ||||||||
STOP PAYMENT ORDER OR REFUSAL TO PAY CHECK ENDORSEMENT | ||||||||
It is agreed that this Bond is amended as follows: | ||||||||
1 | . | By adding the following INSURING CLAUSE: | ||||||
“15 | . | Stop Payment Order or Refusal to Pay Check | ||||||
Loss resulting directly from the ASSURED being legally liable to pay compensatory damages | ||||||||
for: | ||||||||
a. | complying or failing to comply with notice from any customer of the ASSURED or any | |||||||
authorized representative of such customer, to stop payment on any check or draft | ||||||||
made or drawn upon or against the ASSURED by such customer or by any authorized | ||||||||
representative of such customer, or | ||||||||
b. | refusing to pay any check or draft made or drawn upon or against the ASSURED by any | |||||||
customer of the ASSURED or by any authorized representative of such customer.” | ||||||||
2 | . | By adding the following Specific Exclusion: | ||||||
“Section 4.A. Specific Exclusions – Applicable to INSURING CLAUSE 15 | ||||||||
This Bond does not directly or indirectly cover: | ||||||||
a. | liability assumed by the ASSURED by agreement under any contract, unless such liability | |||||||
would have attached to the ASSURED even in the absence of such agreement, | ||||||||
b. | loss arising out of: | |||||||
(1 | ) | libel, slander, wrongful entry, eviction, defamation, false arrest, false imprisonment, | ||||||
malicious prosecution, assault or battery, | ||||||||
(2 | ) | sickness, disease, physical bodily harm, mental or emotional distress or anguish, or | ||||||
death of any person, or | ||||||||
(3 | ) | discrimination.” | ||||||
This Endorsement applies to loss discovered after 12:01 a.m. on December 31, 2019. | ||||||||
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED. |
Date: March 23, 2020 | By | /s/ Paul N. Morrissette |
Authorized Representative |
ICAP Bond
Form 17-02-2365 (Ed. 10-00)
ICAP2 Bond | |
Form 17-02-2976 (Ed. 1-02) | Page 1 |
B. | Electronic Communication | |||
Loss | resulting directly from the ASSURED having transferred, paid or delivered any | |||
funds or property, established any credit, debited any account or given any value on the | ||||
faith of any electronic communications directed to the ASSURED, which were | ||||
transmitted or appear to have been transmitted through: | ||||
(1) | an Electronic Communication System, | |||
(2) | an automated clearing house or custodian, or | |||
(3) | a Telex, TWX, or similar means of communication, | |||
directly into the ASSURED'S Computer System or Communication Terminal, and | ||||
fraudulently purport to have been sent by a customer, automated clearing house, | ||||
custodian, or financial institution, but which communications were either not sent by | ||||
said customer, automated clearing house, custodian, or financial institution, or were | ||||
fraudulently modified during physical transit of Electronic Media to the ASSURED or | ||||
during electronic transmission to the ASSURED'S Computer System or | ||||
Communication Terminal. | ||||
C. | Electronic Transmission | |||
Loss resulting directly from a customer of the ASSURED, any automated clearing | ||||
house, custodian, or financial institution having transferred, paid or delivered any funds | ||||
or property, established any credit, debited any account or given any value on the faith | ||||
of any electronic communications, purporting to have been directed by the ASSURED to | ||||
such customer, automated clearing house, custodian, or financial institution initiating, | ||||
authorizing, or acknowledging, the transfer, payment, delivery or receipt of funds or | ||||
property, which communications were transmitted through: | ||||
(1) | an Electronic Communication System, | |||
(2) | an automated clearing house or custodian, or | |||
(3) | a Telex, TWX, or similar means of communication, | |||
directly into a Computer System or Communication Terminal of said customer, | ||||
automated clearing house, custodian, or financial institution, and fraudulently purport to | ||||
have been directed by the ASSURED, but which communications were either not sent | ||||
by the ASSURED, or were fraudulently modified during physical transit of Electronic | ||||
Media from the ASSURED or during electronic transmission from the ASSURED'S | ||||
Computer System or Communication Terminal, and for which loss the ASSURED is | ||||
held to be legally liable. |
ICAP2 Bond | |
Form 17-02-2976 (Ed. 1-02) | Page 2 |
2 | . | By adding to Section 1., Definitions, the following: | ||
cc. | Communication Terminal means a teletype, teleprinter or video display terminal, or similar | |||
device capable of sending or receiving information electronically. Communication Terminal | ||||
does not mean a telephone. | ||||
dd. | Electronic Communication System means electronic communication operations by | |||
Fedwire, Clearing House Interbank Payment System (CHIPS), Society of Worldwide | ||||
International Financial Telecommunication (SWIFT), similar automated interbank | ||||
communication systems, and Internet access facilities. | ||||
ee. | Electronic Data means facts or information converted to a form usable in Computer Systems and which is stored on Electronic Media for use by computer programs. | |||
ff. | Electronic Instruction means computer programs converted to a form usable in a Computer | |||
System to act upon Electronic Data. | ||||
gg. | Electronic Media means the magnetic tape, magnetic disk, optical disk, or any other bulk | |||
media on which data is recorded. | ||||
3 | . | By adding the following Section after Section 4., Specific Exclusions -Applicable to All INSURING | ||
CLAUSES except 1., 4., and 5.: | ||||
Section 4.A. Specific Exclusions-Applicable to INSURING CLAUSE 16 | ||||
This Bond does not directly or indirectly cover: | ||||
a. | loss resulting directly or indirectly from Forged, altered or fraudulent negotiable instruments, | |||
securities, documents or written instruments used as source documentation in the | ||||
preparation of Electronic Data; | ||||
b. | loss of negotiable instruments, securities, documents or written instruments except as | |||
converted to Electronic Data and then only in that converted form; | ||||
c. | loss resulting from mechanical failure, faulty construction, error in design, latent defect, wear | |||
or tear, gradual deterioration, electrical disturbance, Electronic Media failure or breakdown | ||||
or any malfunction or error in programming or error or omission in processing; | ||||
d. | loss resulting directly or indirectly from the input of Electronic Data at an authorized | |||
electronic terminal of an Electronic Funds Transfer System or a Customer | ||||
Communication System by a person who had authorized access from a customer to that | ||||
customer's authentication mechanism; or | ||||
e. | liability assumed by the ASSURED by agreement under any contract, unless such liability would have attached to the ASSURED even in the absence of such agreement; or | |||
f. | loss resulting directly or indirectly from: | |||
(1) | written instruction unless covered under this INSURING CLAUSE; or | |||
(2) | instruction by voice over the telephone, unless covered under this INSURING CLAUSE. |
ICAP2 Bond | |
Form 17-02-2976 (Ed. 1-02) | Page 3 |
4 | . | By adding to Section 9., Valuation, the following: |
Electronic Data, Electronic Media, Or Electronic Instruction | ||
In case of loss of, or damage to, Electronic Data, Electronic Media or Electronic Instruction | ||
used by the ASSURED in its business, the COMPANY shall be liable under this Bond only if such | ||
items are actually reproduced form other Electronic Data, Electronic Media or Electronic | ||
Instruction of the same kind or quality and then for not more than the cost of the blank media | ||
and/or the cost of labor for the actual transcription or copying of data which shall have been | ||
furnished by the ASSURED in order to reproduce such Electronic Data, Electronic Media or | ||
Electronic Instruction subject to the applicable SINGLE LOSS LIMIT OF LIABILITY. | ||
However, if such Electronic Data can not be reproduced and said Electronic Data represents | ||
Securities or financial instruments having a value, then the loss will be valued as indicated in the | ||
SECURITIES and OTHER PROPERTY paragraphs of this Section. | ||
This Endorsement applies to loss discovered after 12:01 a.m. on December 31, 2019. | ||
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED. | ||
Date: March 23, 2020 | By | /s/ Paul N. Morrissette |
Authorized Representative |
ICAP2 Bond | |
Form 17-02-2976 (Ed. 1-02) | Page 4 |
/s/ Paul N. Morrissette | ||
Authorized Representative |
MS-294904 (01/2020)
Page 1
/s/ Paul N. Morrissette | ||
Authorized Representative |
Q07-1957 (08/2007)
Page 1
/s/ Paul N. Morrissette | ||
Authorized Representative |
17-02-2437 (12/2006) rev.
Page 1
/s/ Paul N. Morrissette | ||
Authorized Representative |
Q09-1831 (11/2009)
Page 1
/s/ Paul N. Morrissette | ||
Authorized Representative |
14-02-14521 (08/2008)
Page 1
Date: March 23, 2020 | By | /s/ Paul N. Morrissette |
Authorized Representative |
ICAP Bond
Form 17-02-1582 (Ed. 5-98) |
Page 1 |
IMPORTANT NOTICE TO POLICYHOLDERS |
All of the members of the Chubb Group of Insurance companies doing business in the United |
States (hereinafter “Chubb”) distribute their products through licensed insurance brokers and agents |
(“producers”). Detailed information regarding the types of compensation paid by Chubb to producers on |
US insurance transactions is available under the Producer Compensation link located at the bottom of |
the page at www.chubb.com, or by calling 1-866-588-9478. Additional information may be available from |
your producer. |
Thank you for choosing Chubb. |
10-02-1295 (ed. 6/2007)
Important Notice: |
The SEC Requires Proof of Your Fidelity Insurance Policy |
Your company is now required to file an electronic copy of your fidelity insurance coverage (Chubb’s ICAP Bond policy) to the Securities and Exchange Commission (SEC), according to rules adopted by the SEC on June 12, 2006. |
Chubb is in the process of providing your agent/broker with an electronic copy of your insurance policy as well as instructions on how to submit this proof of fidelity insurance coverage to the SEC. You can expect to receive this information from your agent/broker shortly. |
The electronic copy of your policy is provided by Chubb solely as a convenience and does not affect the terms and conditions of coverage as set forth in the paper policy you receive by mail. The terms and conditions of the policy mailed to you, which are the same as those set forth in the electronic copy, constitute the entire agreement between your company and Chubb. |
If you have any questions, please contact your agent or broker. |
Form 14-02-12160 (ed. 7/2006)
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
1401 H St. NW
Washington DC 20005
INVESTMENT COMPANY BLANKET BOND
(EXCESS)
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
1401 H St. NW
Washington, DC 20005
DECLARATIONS
NOTICE
This policy is issued by your risk retention group. Your risk retention group may not be subject to all of the insurance laws and regulations of your state. State insurance insolvency guaranty funds are not available for your risk retention group.
Item 1. | Name of Insured (the “Insured”) | Bond Number: |
John Hancock Funds | 87142119B | |
Principal Office: | Mailing Address: | |
200 Berkeley Street | C/O Aon Financial Services Group | |
Boston, MA 02116 | One Federal Street | |
Boston, MA 02210 |
Item 2. | Bond Period: from 12:01 a.m. on December 31, 2019, to 12:01 a.m. on December 31, 2020, or the earlier effective date of the termination of this Bond, standard time at the Principal Office as to each of said dates. |
Item 3. | Limit of Liability— |
LIMIT OF LIABILITY | DEDUCTIBLE AMOUNT 1 | |
1. EMPLOYEE | $15,000,000 | $15,000,000 |
2. ON PREMISES | $15,000,000 | $15,000,000 |
3. IN TRANSIT | $15,000,000 | $15,000,000 |
4. FORGERY OR ALTERATION | $15,000,000 | $15,000,000 |
5. EXTENDED FORGERY | $15,000,000 | $15,000,000 |
6. COUNTERFEIT CURRENCY | $15,000,000 | $15,000,000 |
7. THREATS TO PERSONS | $15,000,000 | $15,000,000 |
8. COMPUTER SYSTEM | $15,000,000 | $15,000,000 |
9. VOICE-INITIATED FUNDS TRANSFER INSTRUCTION | $15,000,000 | $15,000,000 |
10. UNCOLLECTIBLE ITEMS OF DEPOSIT | $15,000,000 | $15,000,000 |
1 Plus the applicable deductible of the Primary Bond
Item 4. | PRIMARY BOND –Federal Insurance Company Bond No. 81906724 |
Item 5. | The liability of ICI Mutual Insurance Company, a Risk Retention Group (the “Underwriter”) is subject to the terms of the following Riders attached hereto: |
Riders: 1
and of all Riders applicable to this Bond issued during the Bond Period.
By: |
/s/ Maggie Sullivan |
By: |
/s/ John T. Mulligan |
|
Authorized Representative | Authorized Representative |
Bond (6/18)
NOTICE
This policy is issued by your risk retention group. Your risk retention group may not be subject to all of the insurance laws and regulations of your state. State insurance insolvency guaranty funds are not available for your risk retention group.
ICI Mutual Insurance Company, a Risk Retention Group (“Underwriter”), in consideration of the required premium, and in reliance on the application and all other information furnished to the Underwriter by the Insured, and subject to and in accordance with the Declarations, General Agreements, Provisions, Conditions and Limitations of this bond, agrees to indemnify the Insured for loss, discovered during the Bond Period, which would otherwise have been paid under the Primary Bond but for the fact that the loss exceeds the limit of liability of such Primary Bond. Coverage under this bond shall follow the terms and conditions of the Primary Bond, except with respect to:
a. | Any coverage exceptions specified by riders attached to this bond; |
b. | The deductible amounts and limits of liability as stated in ITEM 3. of the Declarations; and |
c. | The General Agreements, Provisions, Conditions and Limitations set forth herein. |
GENERAL AGREEMENTS
A. | CHANGE OR MODIFICATION OF PRIMARY BOND |
If after the inception date of this bond the Primary Bond is changed or modified, written notice of any such change or modification shall be given to the Underwriter as soon as practicable, not to exceed thirty (30) days after such change or modification, together with such information as the Underwriter may request. There shall be no coverage under this bond for any loss arising from or in any way related to such change or modification until such time as the Underwriter is advised of and specifically agrees by written endorsement to provide coverage for such change or modification.
B. | LOSS--NOTICE--PROOF--LEGAL PROCEEDINGS |
This bond is for the use and benefit only of the Insured and the Underwriter shall not be liable hereunder for loss sustained by anyone other than the Insured (except that if the Insured includes such other loss in the Insured’s proof of loss, the Underwriter shall consider its liability therefor.) As soon as practicable and not more than sixty (60) days after discovery of any loss covered hereunder, the Insured shall give the Underwriter written notice thereof and, as soon as practicable and within one year after such discovery, shall also furnish to the Underwriter affirmative proof of loss with full particulars. The Underwriter may extend the sixty day notice period or the one year proof of loss period if the Insured requests an extension and shows good cause therefor.
The Underwriter shall not be liable hereunder for loss of Securities unless each of the Securities is identified in such proof of loss by a certificate or bond number or by such identification means as the Underwriter may require. The Underwriter shall have a reasonable period after receipt of a proper affirmative proof of loss within which to investigate the claim, but where the loss is of Securities and is clear and undisputed, settlement shall be made within forty-eight (48) hours even if the loss involves Securities of which duplicates may be obtained.
The Insured shall not bring legal proceedings against the Underwriter to recover any loss hereunder prior to sixty (60) days after filing such proof of loss or subsequent to twenty-four (24) months after the discovery of such loss or, in the case of a legal proceeding to recover hereunder on account of
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any judgment against the Insured in or settlement of any suit or to recover court costs or attorneys’ fees paid in any such suit, twenty-four (24) months after the date of the final judgment in or settlement of such suit. If any limitation in this bond is prohibited by any applicable law, such limitation shall be deemed to be amended to be equal to the minimum period of limitation permitted by such law.
Notice hereunder shall be given to Manager, Professional Liability Claims, ICI Mutual Insurance Company, 1401 H St. NW, Washington, DC 20005.
PROVISIONS, CONDITIONS AND LIMITATIONS
SECTION 1. DEFINITIONS
a. | Deductible Amount means the amount stated in ITEM 3. of the Declarations, applicable to each Single Loss. In no event shall this Deductible Amount be reduced for any reason, including but not limited to, the non-existence, invalidity, insufficiency or uncollectibility of any Underlying Bond(s), including the insolvency or dissolution of any Insurer providing coverage under any Underlying Bond(s). |
b. | Primary Bond means the bond scheduled in ITEM 4. of the Declarations or any bond that may replace or substitute for such bond. |
c. | Single Loss means: |
(1) | all loss resulting from any one actual or attempted theft committed by one person, or |
(2) | all loss caused by any one act (other than a theft or a dishonest or fraudulent act) committed by one person, or |
(3) | all loss caused by dishonest or fraudulent acts committed by one person, or |
(4) | all expenses incurred with respect to any one audit or examination, or |
(5) | all loss caused by any one occurrence or event other than those specified in subsections (1) through (4) above. |
d. | Underlying Bond means the Primary Bond and all other insurance coverage referred to in ITEM 4. of the Declarations. |
SECTION 2. SINGLE LOSS LIMIT OF LIABILITY
The Underwriter’s liability for each Single Loss shall not exceed the Limit of Liability as stated in ITEM 3. of the Declarations.
SECTION 3. DISCOVERY
For all purposes under this bond, a loss is discovered, and discovery of a loss occurs, when the Insured
(1) | becomes aware of facts, or |
(2) | receives notice of an actual or potential claim by a third party which alleges that the Insured is liable under circumstances, which would cause a reasonable person to assume that loss covered by this bond has been or is likely to be incurred even though the exact amount or details of loss may not be known. |
3 |
SECTION 4. ASSIGNMENT OF RIGHTS
Upon payment to the Insured hereunder for any loss, the Underwriter shall be subrogated to the extent of such payment to all of the Insured’s rights and claims in connection with such loss; provided, however, that the Underwriter shall not be subrogated to any such rights or claims one named Insured under this bond may have against another named Insured under this bond. At the request of the Underwriter, the Insured shall execute all assignments or other documents and take such action as the Underwriter may deem necessary or desirable to secure and perfect such rights and claims, including the execution of documents necessary to enable the Underwriter to bring suit in the name of the Insured.
Assignment of any rights or claims under this bond shall not bind the Underwriter without the Underwriter’s written consent.
SECTION 5. COOPERATION OF INSURED
At the Underwriter’s request and at reasonable times and places designated by the Underwriter the Insured shall:
a. | submit to examination by the Underwriter and subscribe to the same under oath, and |
b. | produce for the Underwriter’s examination all pertinent records, and |
c. | cooperate with the Underwriter in all matters pertaining to the loss. |
The Insured shall execute all papers and render assistance to secure for the Underwriter the rights and causes of action provided for under this bond. The Insured shall do nothing after loss to prejudice such rights or causes of action.
SECTION 6. TERMINATION
The Underwriter may terminate this bond as to any Insured or all Insureds only by written notice to such Insured or Insureds and, if this bond is terminated as to any investment company registered under the Investment Company Act of 1940, to each such investment company terminated thereby and to the Securities and Exchange Commission, Washington, D.C., in all cases not less than sixty (60) days prior to the effective date of termination specified in such notice.
The Insured may terminate this bond only by written notice to the Underwriter not less than sixty (60) days prior to the effective date of the termination specified in such notice. Notwithstanding the foregoing, when the Insured terminates this bond as to any investment company registered under the Investment Company Act of 1940, the effective date of termination shall be not less than sixty (60) days from the date the Underwriter provides written notice of the termination to each such investment company terminated thereby and to the Securities and Exchange Commission, Washington, D.C.
This bond will terminate as to any Insured entity that is not an investment company registered under the Investment Company Act of 1940 immediately and without notice upon (1) the takeover of such Insured’s business by any State or Federal official or agency, or by any receiver or liquidator, or (2) the filing of a petition under any State or Federal statute relative to bankruptcy or reorganization of the Insured, or assignment for the benefit of creditors of the Insured.
4 |
Premiums are earned until the effective date of termination. The Underwriter shall refund the unearned premium computed at short rates in accordance with the Underwriter’s standard short rate cancellation tables if this bond is terminated by the Insured or pro rata if this bond is terminated by the Underwriter.
Upon the detection by any Insured that an employee (as defined in the Primary Bond) has committed any dishonest or fraudulent act(s) or theft, the Insured shall immediately remove such employee from a position that may enable such employee to cause the Insured to suffer a loss by any subsequent dishonest or fraudulent act(s) or theft. The Insured, within two (2) business days of such detection, shall notify the Underwriter with full and complete particulars of the detected dishonest or fraudulent act(s) or theft.
For purposes of this section, detection occurs when any partner, officer, or supervisory employee of any Insured, who is not in collusion with such employee, becomes aware that the employee has committed any dishonest or fraudulent act(s) or theft.
This bond shall terminate as to any employee (as defined in the Primary Bond) by written notice from the Underwriter to each Insured and, if such employee is an employee of an Insured investment company registered under the Investment Company Act of 1940, to the Securities and Exchange Commission, in all cases not less than sixty (60) days prior to the effective date of termination specified in such notice.
SECTION 7. CONFORMITY
If any limitation within this bond is prohibited by any law controlling this bond’s construction, such limitation shall be deemed to be amended so as to equal the minimum period of limitation provided by such law.
SECTION 8. CHANGE OR MODIFICATION
This bond may only be modified by written Rider forming a part hereof over the signature of the Underwriter’s authorized representative. Any Rider which modifies the coverage provided by Insuring Agreement A, Fidelity (or the equivalent insuring agreement) of the Primary Bond in a manner which adversely affects the rights of an Insured investment company registered under the Investment Company Act of 1940 shall not become effective until at least sixty (60) days after the Underwriter has given written notice thereof to the Securities and Exchange Commission, Washington, D.C., and to each Insured investment company registered under the Investment Company Act of 1940 affected thereby.
SECTION 9. DEDUCTIBLE AMOUNT; LIMIT OF LIABILITY
The Underwriter shall not be liable under any Insuring Agreement unless the amount of the loss covered thereunder, after deducting the net amount of all reimbursement and/or recovery received by the Insured with respect to such loss (other than from the Primary Bond or from any other bond, suretyship or insurance policy), shall exceed the applicable Deductible Amount; in such case the Underwriter shall be liable only for such excess, subject to the applicable Limit of Liability and other agreements, provisions, conditions and limitations of this bond.
The maximum liability of the Underwriter for any Single Loss covered by any Insuring Agreement under this bond shall be the Limit of Liability applicable to such Insuring Agreement, subject to the
5 |
applicable Deductible Amount and the other agreements, provisions, conditions and limitations of this bond.
SECTION 10. COMPLIANCE WITH APPLICABLE TRADE AND ECONOMIC SANCTIONS
This bond shall not be deemed to provide any coverage, and the Underwriter shall not be required to pay any loss or provide any benefit hereunder, to the extent that the provision of such coverage, payment of such loss or provision of such benefit would cause the Underwriter to be in violation of any applicable trade or economic sanctions, laws or regulations, including, but not limited to, any sanctions, laws or regulations administered and enforced by the U.S. Department of Treasury Office of Foreign Assets Control (OFAC).
6 |
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
(EXCESS BOND)
RIDER NO. 1
INSURED | BOND NUMBER |
John Hancock Funds | 87142119B | |
EFFECTIVE DATE | BOND PERIOD | AUTHORIZED REPRESENTATIVE |
December 31, 2019 | December 31, 2019 to December 31, 2020 | /s/ Maggie Sullivan |
Most property and casualty insurers, including ICI Mutual Insurance Company, a Risk Retention Group (“ICI Mutual”), are subject to the requirements of the Terrorism Risk Insurance Act of 2002, as amended (the “Act”). The Act establishes a federal insurance backstop under which ICI Mutual and these other insurers may be partially reimbursed by the United States Government for future “insured losses” resulting from certified “acts of terrorism.” (Each of these bolded terms is defined by the Act.) The Act also places certain disclosure and other obligations on ICI Mutual and these other insurers.
Pursuant to the Act, any future losses to ICI Mutual caused by certified “acts of terrorism” may be partially reimbursed by the United Sates government under a formula established by the Act. Under this formula, the United States government would generally reimburse ICI Mutual for the Federal Share of Compensation of ICI Mutual’s “insured losses” in excess of ICI Mutual’s “insurer deductible” until total “insured losses” of all participating insurers reach $100 billion (the “Cap on Annual Liability”). If total “insured losses” of all property and casualty insurers reach the Cap on Annual Liability in any one calendar year, the Act limits U.S. Government reimbursement and provides that the insurers will not be liable under their policies for their portions of such losses that exceed such amount. Amounts otherwise payable under this Bond may be reduced as a result.
This Bond has no express exclusion for “acts of terrorism.” However, coverage under this Bond remains subject to all applicable terms, conditions, and limitations of the Bond (including exclusions) that are permissible under the Act.
The portion of the premium that is attributable to any coverage potentially available under the Bond for “acts of terrorism” is one percent (1%) and does not include any charges for the portion of loss that may be covered by the U.S. Government under the Act
As used herein, “Federal Share of Compensation” shall mean 85% in calendar year 2015 and shall be reduced by 1% per calendar year until equal to 80%.
Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.
RN0053.1-00 (07/18) sp
These Declarations, along with the completed and signed Application, the Policy, and any written endorsements attached thereto shall constitute the contract between the Insureds and the Insurer.
Authorized Representative: | /s/ Dino Robusto | Date: | February 3, 2020 | |
G-22076-B(c) (ED. 06-10) | 1 | |
© CNA All Rights Reserved. |
UNDERLYING EXCESS POLICY SCHEDULE
Name of Carrier | Policy No. | Limits | Excess of |
ICI Mutual Insurance | 87142118B | $15,000,000 | $15,000,000 |
G-22076-B(c) (ED. 06-10) | 2 | |
© CNA All Rights Reserved. |
EXCESS INSURANCE POLICY |
Words defined in the Followed Policy have the same meaning in this Policy even if not defined herein. In consideration of the payment of the premium and in reliance upon the applications submitted to the Insurer or any insurer of the Underlying Insurance, and any other material submitted in connection with such applications (all of which are deemed attached hereto and made a part hereof) the Insurer and the Insureds agree as follows:
I. | FOLLOW FORM EXCESS COVERAGE |
The Insurer shall provide coverage in accordance with all of the terms, conditions and limitations (including, but not limited to the exclusions and notice requirements) of the policy scheduled in Item 4.A. of the Declarations (hereafter “Followed Policy”) except as otherwise set forth herein. Coverage hereunder shall attach only after all of the aggregate Limits of Liability, as set forth in Item 4. of the Declarations have been exhausted through payment of covered loss under all policies scheduled in Item 4. of the Declarations (hereafter “Underlying Insurance”) by or on behalf of the insurers of such Underlying Insurance, or by or on behalf of the Insureds. The risk of uncollectibility of any Underlying Insurance (in whole or in part), whether because of financial impairment or insolvency of an underlying insurer or for any other reason, is expressly retained by the Insureds and is not insured by or assumed by the Insurer.
II. | LIMIT OF LIABILITY |
The amount set forth in Item 3. of the Declarations shall be the maximum aggregate Limit of Liability of the Insurer for all loss under this Policy, regardless of the number of claims made against the Insureds or the time of payment and regardless of whether or not an extended reporting period applies. If the Limit of Liability under this Policy is exhausted by payment of loss, the Insurer’s obligations under this Policy shall be deemed completely fulfilled and extinguished.
III. | CHANGES TO UNDERLYING INSURANCE/DEPLETION OF SUB-LIMITS |
If, subsequent to the inception date of this Policy, there is a change to any Underlying Insurance which expands coverage, then this Policy shall become subject to such change only if the Insurer agrees thereto by written endorsement to this Policy. If any loss under any Underlying Insurance is subject to a sub-limit, then this Policy provides no coverage excess of such Underlying Insurance sub-limit, but the Underlying Insurance shall be deemed depleted by payment of any such sub-limit.
IV. | INSURER RIGHTS/COOPERATION CLAUSE |
The Insurer has the same rights and protections as has the insurer of the Followed Policy and has the right, but not the obligation, at its sole discretion, to elect to participate in the investigation, settlement, prosecution or defense of any claim reasonably likely to attach to and be covered under this Policy or any Underlying Insurance, even if the Underlying Insurance has not been exhausted. The Insureds shall cooperate with the Insurer in such investigation, settlement, prosecution or defense and shall do nothing that prejudices the Insurer’s position or rights of recovery.
V. | NOTICES |
Where notice is permitted or required by the Followed Policy, the Insureds have the same rights and obligations to notify the Insurer under this Policy, except that such notice shall be given to the Insurer at the applicable address specified in Item 6. of the Declarations.
IN WITNESS WHEREOF, the Insurer has caused this Policy to be executed by its Chairman and Secretary, but this Policy shall not be binding upon us unless completed by the attachment of the Declarations:
Chairman | Secretary | |
/s/ Dino Robusto |
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G-22076-B(c) (ED. 06-10) | - 1 - | |
© CNA All Rights Reserved. |
John Hancock Bond Trust | John Hancock Investors Trust |
John Hancock California Tax-Free Income Fund | John Hancock Municipal Securities Trust |
John Hancock Capital Series | John Hancock Preferred Income Fund |
John Hancock Collateral Trust | John Hancock Preferred Income Fund II |
John Hancock Current Interest | John Hancock Preferred Income Fund III |
John Hancock Premium Dividend Fund | |
John Hancock Exchange-Traded-Fund Trust | John Hancock Sovereign Bond Fund |
John Hancock Financial Opportunities Fund | |
John Hancock Strategic Series | |
John Hancock Funds II | John Hancock Tax-Advantaged Dividend Income Fund |
John Hancock Funds III | John Hancock Tax-Advantaged Global Shareholder Yield Fund |
John Hancock Hedged Equity & Income Fund | John Hancock Variable Insurance Trust |
John Hancock Income Securities Trust | |
John Hancock Investment Trust | |
John Hancock Investment Trust II | |
John Hancock Investment Trust III |
(Collectively referred to as the “Trusts” and the series are collectively referred to as the “Funds”)
2019-2020 Joint Financial Institutions (Fidelity) Bond (the “Joint Bond”)
WHEREAS, Rule 17g-1 under the 1940 Act governs the required bonding of the Trusts’ officers and employees under a joint fidelity bond;
WHEREAS, the Trustees desire to approve the Joint Bond for a one- year term ending December 31, 2020; and
WHEREAS, the Trustees of the Trusts have considered the allocation of premiums for the Joint Bond among the John Hancock Trusts and have determined that the allocation should be based on the premium (including tax) of $116,706it is:
1 |
RESOLVED, that the Joint Bond issued by Federal Insurance Company (Chubb), ICI Mutual Insurance Company and Continental Casualty Company, covering each officer and employee of the Trusts against larceny and embezzlement, in the amount of $36 million for a one-year term ending December 31, 2020, and in the proposed form presented at this meeting, after consideration of all factors deemed relevant by the Board, including, but not limited to: (i) the expected value of the aggregate assets of the Trusts to which any officer or employee of such Trusts may have access; (ii) the type and terms of the arrangements made for the custody and safekeeping of such assets; and (iii) the nature of the securities in the John Hancock Trusts’ portfolios, be, and it hereby is, determined to be reasonable in form and amount, and hereby approved;
FURTHER RESOLVED, that the portion of the premium for the Joint Bond to be paid by each Trust, in substantially the form presented at this Meeting, after consideration of all factors deemed relevant by the Board, including, but not limited to: (i) the number of the other parties named as insureds; (ii) the nature of the business activities of such other parties; (iii) the amount of the Joint Bond; (iv) the amount of the premium for such Joint Bond; (v) the ratable allocation of the premium among all parties named as insureds; and (vi) the extent to which the share of the premium allocated to each Trust is less than the premium such Trust would have had to pay if it had provided and maintained a single insured bond, be, and it hereby is, approved; and
FURTHER RESOLVED, that the appropriate officers of the Trusts be, and each hereby is, authorized to increase the amount of the Joint Bond coverage from time to time to ensure adequate coverage based upon the value of the Trusts’ assets and to enable the Trusts to remain in compliance with the 1940 Act and the rules promulgated thereunder;
FURTHER RESOLVED, that the Joint Insured Bond Agreement among the Trusts (the “Joint Bond Agreement”), in substantially the form presented at this Meeting, providing in substance that, in the event any recovery is received under the Joint Bond as a result of a loss sustained by the Trusts and any one or more other named insureds, the Trusts shall receive an equitable and proportionate share of the recovery, but in no event less than the amount it would have received had it provided and maintained a single bond with the minimum coverage required by paragraph (d)(1) of Rule 17g-1 under the 1940 Act, be, and it hereby is, approved;
2 |
FURTHER RESOLVED, that the Secretary of the Trusts or his delegate be, and each hereby is, authorized to make all necessary filings and give all notices and information with respect to such Joint Bond and the Joint Bond Agreement required by paragraph (g) of Rule 17g-1 under the 1940 Act; and
FURTHER RESOLVED, that the appropriate officers of the Trusts be, and each hereby is, authorized to make any and all payments and to do any and all such further acts, in the name of the Trusts and on its behalf, as they, or any of them, may determine to be necessary or desirable and proper, with the advice of counsel, in connection with or in furtherance of the foregoing resolutions.
3 |
Agreement Relating to Joint Insured Bond
WHEREAS, each of the parties hereto is a named insured under a “joint insured bond,” as that term is defined in Rule 17g-1 under the Investment Company Act of 1940 (the “1940 Act”); and
WHEREAS, Rule 17g-1(f) under the 1940 Act requires an agreement between all the named insureds under a joint insured bond;
NOW, THEREFORE, the parties hereto hereby agree as follows:
In the event recovery is received under the joint insured bond as a result of a loss sustained by any two or more of the named insureds, each insured shall receive an equitable and proportionate share of the recovery, but at least equal to the amount which it would have received had it provided and maintained a single insured bond with the minimum coverage required by paragraph (d)(1) of Rule 17g-1 under the 1940 Act.
IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed on its behalf by the undersigned thereunto duly authorized on September 24, 2015.
JOHN HANCOCK VARIABLE INSURANCE TRUST on behalf of each of its Series |
JOHN HANCOCK FUNDS II on behalf of each of its Series |
John HANCOCK FUNDS III on behalf of each of its series |
JOHN HANCOCK BOND TRUST on behalf of each of its series |
JOHN HANCOCK CAPITAL SERIES on behalf of each of its series |
JOHN HANCOCK CALIFORNIA TAX-FREE INCOME FUND on behalf of each of its series |
JOHN HANCOCK COLLATERAL TRUST On behalf of each of its series |
JOHN HANCOCK CURRENT INTEREST on behalf of each of its series |
JOHN HANCOCK INVESTMENT TRUST on behalf of each of its series |
JOHN HANCOCK INVESTMENT TRUST II on behalf of each of its series |
JOHN HANCOCK INVESTMENT TRUST III on behalf of each of its series |
JOHN HANCOCK MUNICIPAL SERIES TRUST on behalf of each of its series |
JOHN HANCOCK SOVEREIGN BOND FUND on behalf of its of its series |
JOHN HANCOCK STRATEGIC SERIES on behalf of each of its series |
JOHN HANCOCK EMERGING MARKETS INCOME FUND on behalf of its of its series |
JOHN HANCOCK EXCHANGE-TRADED FUND TRUST on behalf of each of its series |
JOHN HANCOCK FINANCIAL OPPORTUNITIES FUND on behalf of each of its series |
JOHN HANCOCK FLOATING RATE HIGH INCOME FUND On behalf of each of its series |
JOHN HANCOCK HEDGED EQUITY & INCOME FUND on behalf of each of its series |
JOHN HANCOCK INCOME SECURITIES TRUST on behalf of each of its series |
JOHN HANCOCK INVESTORS TRUST on behalf of each of its series |
JOHN HANCOCK PREFERRED INCOME FUND on behalf of each of its series |
JOHN HANCOCK PREFERRED INCOME FUND II on behalf of each of its series |
JOHN HANCOCK PREFERRED INCOME FUND III on behalf of each of its series |
JOHN HANCOCK PREMIUM DIVIDEND FUND on behalf of each of its series |
JOHN HANCOCK STRATEGIC DIVERSIFIED INCOME FUND on behalf of each if its series |
JOHN HANCOCK TAX-ADVANTAGED DIVIDEND INCOME FUND on behalf of each of its series |
JOHN HANCOCK TAX-ADVANTAGED GLOBAL SHAREHOLDER YIELD FUND on behalf of each of its series |
Executed on behalf of each Trust and its relevant Series referenced above: | ||||
By: | /s/ Betsy Anne Seel | |||
Name: | Betsy Anne Seel | |||
Title: | Assistant Secretary |
STATEMENT REGARDING SINGLE BOND AMOUNT
If the investment companies shown below had not been named as an insured under this joint insured bond, they would have provided and maintained a single bond in the amount of at least:
John Hancock Bond Trust | $1,900,000 |
John Hancock California Tax-Free Income Fund | $600,000 |
John Hancock Capital Series | $2,300,000 |
John Hancock Collateral Trust | $1,700,000 |
John Hancock Current Interest | $900,000 |
John Hancock Emerging Markets Income Fund | $50,000 |
John Hancock Exchange-Traded Fund Trust | $2,500,000 |
John Hancock Financial Opportunities Fund | $1,000,000 |
John Hancock Floating Rate High Income Fund | $50,000 |
John Hancock Funds II | $2,500,000 |
John Hancock Funds III | $2,500,000 |
John Hancock Hedged Equity & Income Fund | $600,000 |
John Hancock Income Securities Trust | $750,000 |
John Hancock Investment Trust | $2,500,000 |
John Hancock Investment Trust II | $1,700,000 |
John Hancock Investment Trust III | $50,000 |
John Hancock Investors Trust | $600,000 |
John Hancock Municipal Securities Trust | $900,000 |
John Hancock Preferred Income Fund | $1,000,000 |
John Hancock Preferred Income Fund II | $900,000 |
John Hancock Preferred Income Fund III | $1,000,000 |
John Hancock Premium Dividend Fund | $1,250,000 |
John Hancock Sovereign Bond Fund | $2,500,000 |
John Hancock Strategic Diversified Income Fund | $50,000 |
John Hancock Strategic Series | $1,500,000 |
John Hancock Tax-Advantaged Dividend Income Fund | $1,250,000 |
John Hancock Tax-Advantaged Global Shareholder Yield Fund | $450,000 |
John Hancock Variable Insurance Trust | $2,500,000 |
PREMIUM PERIOD
Premiums have been paid for the period December 31, 2019 to December 31, 2020.
1 Year John Hancock Premium Div... Chart |
1 Month John Hancock Premium Div... Chart |
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