Why is John Hancock Money Market Fund paying capital gains, but not generating income?
On January 27, 2010, the Securities and Exchange Commission adopted a number of changes to the rules governing the operation of money market funds designed to significantly strengthen the regulatory requirements governing such funds. The primary outcome was tighter maturity and credit quality standards, increased liquidity requirements and enhanced disclosure requirements. The capital gains being distributed this year by John Hancock Money Market Fund were generated as John Hancock Funds transitioned the Fund to meet the new requirements. The capital gain distributions are not expected to continue. Unfortunately, the environment of low interest rates is continuing and the Fund yield remains at 0.00%, like many other money market mutual funds. The Fund maintains its $1.00 per share price with the assistance of expense reimbursements and/or fee waivers. Q: The long-term capital gain estimate for John Hancock Regional Bank Fund seems relatively high. What is the reason for the gain? A: Si
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