John Hancock Floating Rate Income Fund Q1 2026 Commentary (JFIAX)
John Hancock Investment Management·2026-06-19·via All Articles on Seeking Alpha
Summary
John Hancock Floating Rate Income Fund underperformed the Morningstar LSTA US Leveraged Loan Index on a net basis in Q1.
Within the loan portfolio, weaker B2-rated performance offset positive off-benchmark contribution from high-yield bonds and structured credit.
During the quarter, we continued to improve the loan portfolio's quality, adding to BB-rated loans and selectively rotating within the single-B segment, while maintaining a below-benchmark weight to CCCs.
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The fund is proposing to replace Bain Capital Credit with Manulife | CQS Investment Management as the fund's manager subject to shareholder approval at a proxy vote currently scheduled for June 2026.
