John Hancock Preferred Income Fund II (NYSE: HPF) is a closed-end management investment company that seeks to provide a high level of current income, with a secondary objective of capital appreciation. Listed on the New York Stock Exchange, the fund primarily invests in preferred securities issued by U.S. and, to a lesser extent, international issuers. Its diversified portfolio may include investment-grade and below-investment-grade preferred stocks, corporate debt securities, convertible securities and, when deemed appropriate, common equity.
Launched in June 2006, HPF employs leverage through preferred share borrowings and other forms of financing to enhance income potential. The fund’s investment team, based in Boston, conducts credit analysis and market research to identify opportunities across a range of industries, including financial services, utilities, telecommunications and industrials. Risk management is an integral part of the process, with portfolio managers aiming to balance yield generation against interest rate sensitivity and credit quality considerations.
HPF is managed by John Hancock Investment Management LLC, a subsidiary of Manulife Financial Corporation, which provides access to a broad platform of fixed-income expertise. The fund’s governance structure includes an independent board of trustees that oversees compliance, audit and valuation matters. Shareholders receive distributions on a monthly basis, reflecting the fund’s focus on delivering steady income streams to retail and institutional investors.
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