HPF

John Hancock Preferred Income Fund II (HPF) is a diversified, closed-end management investment company that seeks to provide high current income consistent with preservation of capital. The fund invests primarily in preferred securities and other income-producing securities issued by U.S. and non-U.S. companies. Managed by John Hancock Investment Management LLC, a subsidiary of Manulife Financial Corporation, HPF maintains a portfolio concentrated in preferred stocks across various sectors, including financials, utilities, energy, and real estate investment trusts. The fund employs leverage through borrowings to enhance potential returns, typically maintaining leverage levels between 30-38% of managed assets. HPF's investment strategy focuses on investment-grade and below-investment-grade preferred securities, with portfolio managers conducting fundamental credit analysis to identify attractive risk-adjusted opportunities. The fund's portfolio typically holds between 150-200 individual securities to achieve diversification while managing credit risk. As a closed-end fund, HPF trades on the New York Stock Exchange and its market price may trade at a premium or discount to its net asset value. The fund makes monthly distributions to shareholders, which historically have been supported by dividend income from preferred securities holdings and, when necessary, return of capital. John Hancock Investment Management oversees approximately $200 billion in assets under management across various investment strategies, providing HPF with access to extensive research capabilities and institutional trading resources.