John Hancock Fds II Alternative Asset Allocation Fund Class A
JAAAX
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- John Hancock Funds II Alternative Asset Allocation Fund Class A (JAAAX) is an open-end mutual fund that seeks long-term growth of capital by allocating its assets among affiliated and unaffiliated underlying funds, including exchange-traded funds (ETFs), emphasizing alternative or nontraditional asset categories and investment strategies. The fund invests primarily in other funds focusing on international small-cap stocks, emerging-market equity, commodities, market neutral (long/short) strategies, global real estate, natural resources, Treasury Inflation-Protected Securities (TIPS), global bonds, high yield bonds, bank loans, foreign currency trading, absolute return strategies, managed futures, arbitrage, tactical asset allocation, and emerging-market debt; it may also invest directly in exchange-traded notes (ETNs) and employ derivatives such as options, futures, swaps, and foreign currency forward contracts for hedging and risk management purposes. Top holdings include JPMorgan Hedged Equity Fund Class R6 (approximately 12%), JHancock Multi-Asset Absolute Return Fund Class NAV (approximately 11-12%), Calamos Market Neutral Income Fund Institutional Class (approximately 11%), JHancock Seaport Long/Short NAV (approximately 10%), and Victory Market Neutral Income Fund Class I (approximately 10%), with portfolio diversification across U.S. stocks (39%), cash (32%), U.S. bonds (12%), non-U.S. stocks (6%), and other assets. Launched on January 2, 2009, the fund is domiciled in the United States, available for sale in the U.S., and managed by John Hancock Investment Management LLC, with key portfolio managers Nathan Thooft (since May 2013) and Christopher Walsh (since February 2018). Headquartered at 200 Berkeley Street in Boston, Massachusetts, it operates within the multistrategy category, targeting investors seeking exposure to alternative investments with a minimum initial investment of $1,000, a front-end load of 5%, and a net expense ratio of 1.68% as of recent data; total net assets stand at approximately $914-991 million. Recent portfolio adjustments in Q3 2025 included modifications to allocations in hedged equity, multi-asset absolute return, and market neutral income strategies, reflecting ongoing tactical shifts amid market volatility, while the fund maintained a portfolio turnover rate of around 24-33% in its latest fiscal year. As part of broader John Hancock Funds oversight, the Board of Trustees appointed Kristie Feinberg as a non-independent Trustee effective June 30, 2025, and noted updates to the John Hancock Fund Complex comprising 179-186 funds as of mid-2025, with no major acquisitions, mergers, or new product launches specific to JAAAX reported in the past 1-2 years. The fund continues to emphasize risk management through diversified alternative exposures, with assets deployed globally across U.S., Eurozone, emerging Asia, developed Asia, and Japan regions.