John Hancock Income Fund Q1 2026 Commentary (JHFIX)
John Hancock Investment Management·2026-06-17·via All Articles on Seeking Alpha
Summary
Mixed economic data and inflationary concerns sparked by an escalating conflict in the Middle East resulted in relatively flat returns for U.S. bonds in the first quarter.
The John Hancock Income Fund underperformed its benchmark, the Bloomberg U.S. Aggregate Bond Index, due primarily to foreign currency positioning.
The Fund's foreign currency holdings were the primary factor behind the underperformance as the U.S. dollar appreciated against most foreign currencies.
Country allocation was another drag on relative results as the U.S. bond market generally outperformed fixed-income markets in other parts of the globe.
The Fund's shorter duration aided performance by limiting the negative impact of rising bond yields on fund performance.
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Quarterly Commentary Highlights
Mixed economic data and inflationary concerns sparked by an escalating conflict in the Middle East resulted in relatively flat returns for U.S. bonds in the first quarter.
Asset-backed securities and residential mortgage-backed
