e485bpos

Day-to-day investment management: MFC Global Investment Management (U.S.A.) Limited

Class / Ticker A / JALGX B / JBLGX C / JCLGX

Goal and strategy

The fund seeks long-term growth of capital. Current income is also a consideration.

To pursue this goal, the fund, which is a fund of funds, normally invests approximately 80% of its assets in underlying funds that invest primarily in equity securities and approximately 20% in underlying funds that invest primarily in fixed-income securities.

Variations in the target percentage allocation between underlying funds that invest primarily in equity securities and underlying funds that invest primarily in fixed-income securities are permitted up to 10% in either direction. Thus, based on its target percentage allocation of approximately 80% of assets in equity underlying funds and 20% in fixed-income underlying funds, the fund may have an equity/fixed-income underlying fund allocation of 90%/10% or 70%/30%. Although variations beyond the 10% range are generally not permitted, the subadviser may determine in light of market or economic conditions that the normal percentage limitations should be exceeded to protect the fund or to achieve its goal.

The fund may invest in various funds that as a group hold a wide range of equity type securities in their funds. These include small-, mid- and large-capitalization stocks; domestic and foreign securities (including emerging market securities); and sector holdings, such as utilities and science and technology stocks. In addition to investing in exchange traded funds (ETFs), the fund may also invest in the securities of other investment companies and may make direct investments in other types of investments. Each of the underlying funds has its own investment strategy which, for example, may focus on growth stocks or value stocks or may employ a strategy combining growth and income stocks and/or may invest in derivatives such as options on securities and futures contracts. Certain of the underlying funds in which the fund invests focus their investment strategy on fixed-income securities, which may include investment grade and below investment grade debt securities with maturities that range from short to longer term. The fixed-income underlying funds collectively hold various types of debt instruments, such as corporate bonds and mortgage-backed, government-issued, domestic and international securities.

Main risks

Equity securities risk The value of a company’s equity securities is subject to changes in the company’s financial condition and overall market and economic conditions.

Exchange traded funds risk Owning an ETF generally reflects the risks of owning the underlying securities it is designed to track.

Fund of funds risk The fund is subject to the performance of the underlying funds in which it invests.

Investment company securities risk The fund bears its own expenses and indirectly bears its proportionate share of expenses of the underlying funds in which it invests.

Management risk The fund team’s investment strategy may fail to produce the intended result.

Lifestyle Growth Portfolio – Fund summary

Past performance

Calendar year total returns – Class A (%)

Best quarter: Q4 ’06, 6.76 Worst quarter: Q2, ’06, –2.17

2006

2007

13.02

6.96

[BAR CHART]


Average annual total returns (%)	1 Year		Inception

as of 12-31-07				10-17-05

Class A before tax		1.64		9.00

After tax on distributions		0.24		7.40

After tax on distributions, with sale		1.21		6.81

Class B before tax		1.14		9.57

Class C before tax		5.19		10.79

80% Standard & Poor’s 500 Index/20% Lehman Brothers U.S. Aggregate Index		5.88		10.48	¹

Calendar year total returns

These do not include sales charges, and would have been lower if they did. They are shown only for Class A and would be different for other classes. These represent how a fund’s returns vary from year to year and can give an idea of its risk; however, as always, past performance (before and after taxes) does not indicate future results. All figures assume dividend reinvestment.

Average annual total returns

These include sales charges. Performance of broad-based indexes is included for comparison. Indexes have no sales charges and you cannot invest in them directly. All figures assume dividend reinvestment.

After-tax returns These are shown only for Class A and would be different for other classes. They reflect the highest individual federal marginal income tax rates in effect at the time and do not reflect any state or local taxes. Your actual after-tax returns may be different. After-tax returns are not relevant to shares held in an IRA, 401(k) or other tax-advantaged investment plan.

Standard & Poor’s 500 Index is an unmanaged index that includes 500 widely traded common stocks.

Lehman Brothers U.S. Aggregate Index is an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.


1		Index figure as of closest month end to inception date.

Investor costs


Shareholder transaction expenses² (%)	Class A			Class B		Class C

Maximum front-end sales charge (load) as a percentage of purchase price		5.00			—		—

Maximum deferred sales charge (load) as a percentage of purchase or redemption price, whichever is less		—	³		5.00		1.00	⁴


Annual operating expenses (%)	Class A		Class B		Class C

Management fee⁵		0.04		0.04		0.04

Distribution and service (12b-1) fees		0.30		1.00		1.00

Other expenses		0.20		0.26		0.21

Acquired fund fees and expenses		0.88		0.88		0.88

Total fund operating expenses⁶		1.42		2.18		2.13

Contractual expense reimbursement (until at least 5-1-09)⁷		–0.01		–0.01		—

Net fund operating expenses		1.41		2.17		2.13

Expense example


Expenses ($)	Class A		Class B					Class C

				with redemptions		without redemptions			with redemptions	without redemptions

1 Year		636		720		220			316	216

3 Years		926		981		681			667	667

5 Years		1,237		1,369		1,169			1,144	1,144

10 Years		2,116		2,320	⁸	2,320	⁸		2,462	2,462

Annual operating expenses

These are paid from fund assets; shareholders, therefore, pay these costs indirectly.


2		A $4.00 fee will be charged for wire redemptions.

3		Except for investments of $1 million or more; see “How sales charges are calculated.”

4		Only if sold within the first year after purchase; see “How sales charges are calculated.”

5		The adviser intends to waive its advisory fee or reimburse the fund in an amount such that, with respect to such other assets, the sum of (i) the advisory fee paid by the fund to the adviser and (ii) the advisory fee paid by the underlying fund to and retained (after payment of any subadvisory fee) by the adviser or its affiliate, does not exceed an annual rate of 0.50%. See “Fund details — Management fees” for further information.

6		The Total fund operating expenses include fees and expenses incurred indirectly by the fund as a result of its investment in other investment companies (e.g., underlying funds) (each, an Acquired fund). The Total fund annual expenses shown may not correlate to the fund’s ratio of expenses to average net assets shown in the Financial highlights section, which does not include Acquired fund fees and expenses.

7		The adviser has contractually agreed to waive advisory fees or reimburse fund expenses for each of these classes of shares to the extent that blue sky fees and printing and postage expenses attributable to each class exceed 0.09%of the average annual net assets attributable to the class. This agreement remains in effect until May 1, 2009, and may thereafter be terminated by the adviser any time.

8		Reflects conversion of Class B shares to Class A shares after eight years.

Lifestyle Growth Portfolio – Fund summary

Fund summary

John Hancock

Day-to-day investment management: MFC Global Investment Management (U.S.A.) Limited

Class / Ticker A / JALBX B / JBLBX C / JCLBX

Goal and strategy

The fund seeks a balance between a high level of current income and growth of capital, with a greater emphasis on growth of capital.

To pursue this goal, the fund, which is a fund of funds, normally invests approximately 60% of its assets in underlying funds that invest primarily in equity securities and approximately 40% in funds that invest primarily in fixed-income securities.

Thus, based on its target percentage allocation of approximately 60% of assets in equity underlying funds and 40% in fixed-income underlying funds, the fund may have an equity/fixed-income underlying funds allocation of 70%/30% or 50%/50%. Although variations beyond the 10% range are generally not permitted, the subadviser may determine in light of market or economic conditions that the normal percentage limitations should be exceeded to protect the fund or to achieve its goal.

Within the prescribed percentage allocation, the subadviser selects the percentage level to be maintained in specific underlying funds. The assets of the fund are rebalanced quarterly to maintain the selected percentage level. The subadviser may from time to time adjust the percentage of assets invested in any specific underlying funds to increase or decrease the fund’s holdings of particular assets classes, such as common stocks of foreign issuers, to adjust fund quality or the duration of fixed-income securities, to increase or reduce the percentage of the fund’s assets subject to the management of a particular subadviser or to reflect fundamental changes in the investment environment.

The fund may invest in various underlying funds that as a group hold a wide range of equity type securities in their funds. These include small-, mid- and large-capitalization stocks; domestic and foreign securities (including emerging market securities); and sector holdings, such as utilities and science and technology stocks. In addition to investing in exchange traded funds (ETFs), the fund may also invest in the securities of other investment companies and may make direct investments in other types of investments. Each of the underlying funds has its own investment strategy which, for example, may focus on growth stocks or value stocks or may employ a strategy combining growth and income stocks and/or may invest in derivatives such as options on securities and futures contracts. Certain of the underlying funds in which the fund invests focus their investment strategy on fixed-income securities, which may include investment grade and below investment grade debt securities with maturities that range from short to longer term. The fixed-income underlying funds collectively hold various types of debt instruments, such as corporate bonds and mortgage-backed, government-issued, domestic and international securities.

Main risks

Equity securities risk The value of a company’s equity securities is subject to changes in the company’s financial condition and overall market and economic conditions. The securities of growth companies are subject to greater price fluctuations than other types of stocks because their market process tends to place greater emphasis on future earnings expectations.

Exchange traded funds risk Owning an ETF generally reflects the risks of owning the underlying securities it is designed to track.

Fund of funds risk The fund is subject to the performance of the underlying funds in which it invests.

Investment company securities risk The fund bears its own expenses and indirectly bears its proportionate share of expenses of the underlying funds in which it invests.

Management risk The fund team’s investment strategy may fail to produce the intended result.

Lifestyle Balanced Portfolio – Fund summary

Past performance

Calendar year total returns – Class A (%)

Best quarter: Q4 ’06, 5.93 Worst quarter: Q2 ’06, –1.66

2006

2007

12.16

5.90

[BAR CHART]


Average annual total returns (%)	1 Year		Inception

as of 12-31-07				10-17-05

Class A before tax		0.58		7.68

After tax on distributions		–0.90		6.00

After tax on distributions, with sale		0.46		5.61

Class B before tax		0.02		8.14

Class C before tax		4.10		9.48

60% Standard & Poor’s 500 Index/40% Lehman Brothers U.S. Aggregate Index		6.22		9.36	¹

Calendar year total returns

These do not include sales charges. They are shown only for Class A and would be different for other classes. These represent how a fund’s returns vary from year to year and can give an idea of its risk; however, as always, past performance (before and after taxes) does not indicate future results. All figures assume dividend reinvestment.

Average annual total returns

These include sales charges. Performance of broad-based indexes is included for comparison. Indexes have no sales charges and you cannot invest in them directly.

Standard & Poor’s 500 Index is an unmanaged index that includes 500 widely traded common stocks.

Lehman Brothers U.S. Aggregate Index is an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.


1		Index figure as of closest month end to inception date.

Investor costs


Shareholder transaction expenses² (%)	Class A			Class B		Class C

Maximum front-end sales charge (load) as a percentage of purchase price		5.00			—		—

Maximum deferred sales charge (load) as a percentage of purchase or redemption price, whichever is less		—	³		5.00		1.00	⁴


Annual operating expenses (%)	Class A		Class B		Class C

Management fee⁵		0.04		0.04		0.04

Distribution and service (12b-1) fees		0.30		1.00		1.00

Other expenses		0.17		0.26		0.18

Acquired fund fees and expenses		0.86		0.86		0.86

Total fund operating expenses⁶		1.37		2.16		2.08

Contractual expense reimbursement (until at least 5-1-09)⁷		–0.01		—		–0.01

Net fund operating expenses		1.36		2.16		2.07

Expense example


Expenses ($)	Class A		Class B					Class C

				with redemptions		without redemptions			with redemptions	without redemptions

1 Year		632		719		219			310	210

3 Years		911		976		676			651	651

5 Years		1,212		1,359		1,159			1,118	1,118

10 Years		2,063		2,292	⁸	2,292	⁸		2,410	2,410

Annual operating expenses

These are paid from fund assets; shareholders therefore pay these costs indirectly. The fund has no shareholder transaction expenses.


2		A $4.00 fee will be charged for wire redemptions.

3		Except for investments of $1 million or more; see “How sales charges are calculated.”

4		Only if sold within the first year after purchase; see “How sales charges are calculated.”

5		The adviser intends to waive its advisory fee or reimburse the fund in an amount such that, with respect to such other assets, the sum of (i) the advisory fee paid by the fund to the adviser and (ii) the advisory fee paid by the underlying fund to and retained (after payment of any subadvisory fee) by the adviser or its affiliate, does not exceed an annual rate of 0.50%. See “Fund details — Management fees” for further information.

6		The Total fund operating expenses include fees and expenses incurred indirectly by the fund as a result of its investment in other investment companies (e.g., underlying funds) (each, an Acquired fund). The Total fund annual expenses shown may not correlate to the fund’s ratio of expenses to average net assets shown in the Financial highlights section, which does not include Acquired fund fees and expenses.

7		The adviser has contractually agreed to waive advisory fees or reimburse fund expenses for each of these classes of shares to the extent that blue sky fees and printing and postage expenses attributable to each class exceed 0.09% of the average annual net assets attributable to the class. This agreement remains in effect until May 1, 2009, and may thereafter be terminated by the adviser any time.

8		Reflects conversion of Class A shares to Class B shares after eight years.

Lifestyle Balanced Portfolio – Fund summary

Fund summary

John Hancock

Lifestyle Conservative Portfolio

Day-to-day investment management: MFC Global Investment Management (U.S.A.) Limited

Class / Ticker A / JALMX B / JBLMX C / JCLMX

Goal and strategy

The fund seeks a balance between a high level of current income and growth of capital, with a greater emphasis on income.

To pursue this goal, the fund, which is a fund of funds, normally invests approximately 40% of its assets in underlying funds that invest primarily in equity securities and approximately 60% in underlying funds that invest primarily in fixed-income securities.

Variations in the target percentage allocation between underlying funds that invest primarily in equity securities and underlying funds that invest primarily in fixed-income securities are permitted up to 10% in either direction. Thus, based on its target percentage allocation of approximately 40% of assets in equity underlying funds and 60% in fixed-income underlying funds, the fund may have an equity/fixed-income underlying fund allocation of 50%/50% or 30%/70%. Although variations beyond the 10% range are generally not permitted, the subadviser may determine in light of market or economic conditions that the normal percentage limitations should be exceeded to protect the fund or to achieve its goal.

Within the prescribed percentage allocation, the subadviser selects the percentage level to be maintained in specific underlying funds. The assets of the fund are rebalanced quarterly to maintain the selected percentage level. The subadviser may from time to time adjust the percentage of assets invested in any specific underlying funds to increase or decrease the fund’s holdings of particular assets classes, such as common stocks of foreign issuers, to adjust fund quality or the duration of fixed-income securities, to increase or reduce the percentage of the fund’s assets subject to the management of a particular subadviser or to reflect fundamental changes in the investment environment.

The fund may invest in various underlying funds that as a group hold a wide range of equity type securities in their funds. These include small-, mid- and large-capitalization stocks; domestic and foreign securities (including emerging market securities); and sector holdings, such as utilities and science and technology stocks. In addition to investing in exchange traded funds (ETFs), the fund may also invest in the securities of other investment companies and may make direct investments in other types of investments. Each of the underlying funds has its own investment strategy which, for example, may focus on growth stocks or value stocks or may employ a strategy combining growth and income stocks and/or may invest in derivatives such as options on securities and futures contracts. Certain of the underlying funds in which the fund invests focus their investment strategy on fixed-income securities, which may include investment grade and below investment grade debt securities with maturities that range from short to longer term. The fixed-income underlying funds collectively hold various types of debt instruments, such as corporate bonds and mortgage-backed, government-issued, domestic and international securities.

Main risks

Equity securities risk The value of a company’s equity securities is subject to changes in the company’s financial condition and overall market and economic conditions.

Exchange traded funds risk Owning an ETF generally reflects the risks of owning the underlying securities it is designed to track.

Fund of funds risk The fund is subject to the performance of the underlying funds in which it invests.

Investment company securities risk The fund bears its own expenses and indirectly bears its proportionate share of expenses of the underlying funds in which it invests.

Management risk The fund team’s investment strategy may fail to produce the intended result.

Lifestyle Moderate Portfolio – Fund summary

Past performance

Calendar year total returns – Class A (%)

Best quarter: Q4 ’06, 4.62 Worst quarter: Q2 ’06, –1.10

2006

2007

9.80

4.78

[BAR CHART]

Average annual total returns (%)

1 Year

Inception

as of 12-31-07

10-17-05

Class A before tax

–0.44

5.60

After tax on distributions

–1.89

3.99

After tax on distributions, with sale

–0.24

3.85

Class B before tax

–1.03

6.00

Class C before tax

3.05

7.33

40% Standard & Poor’s 500 Index/60% Lehman Brothers U.S. Aggregate Index

6.52

8.22

Calendar year total returns

These do not include sales charges. They are shown only for Class A and would be different for other classes. These represent how a fund’s returns vary from year to year can and give an idea of its risk; however, as always, past performance (before and after taxes) does not indicate future results. All figures assume dividend reinvestment.

Average annual total returns

These include sales charges. Performance of broad-based indexes is included for comparison. Indexes have no sales charges and you cannot invest in them directly.

Standard & Poor’s 500 Index is an unmanaged index that includes 500 widely traded common stocks.

Lehman Brothers U.S. Aggregate Index is an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.


1		Index figure as of closest month end to inception date.

Investor costs


Shareholder transaction expenses² (%)	Class A			Class B		Class C

Maximum front-end sales charge (load) as a percentage of purchase price		5.00			—		—

Maximum deferred sales charge (load) as a percentage of purchase or redemption price, whichever is less		—	³		5.00		1.00	⁴


Annual operating expenses (%)	Class A		Class B		Class C

Management fee⁵		0.04		0.04		0.04

Distribution and service (12b-1) fees		0.30		1.00		1.00

Other expenses		0.19		0.39		0.20

Acquired fund fees and expenses		0.83		0.83		0.83

Total fund operating expenses⁶		1.36		2.26		2.07

Contractual expense reimbursement (until at least 5-1-09)⁷		—		–0.08		—

Net fund operating expenses		1.36		2.18		2.07

Expense example


Expenses ($)	Class A		Class B					Class C

				with redemptions		without redemptions			with redemptions	without redemptions

1 Year		632		721		221			310	210

3 Years		909		999		699			649	649

5 Years		1,207		1,403		1,203			1,114	1,114

10 Years		2,053		2,362	⁸	2,362	⁸		2,400	2,400

Annual operating expenses

These are paid from fund assets; shareholders therefore pay these costs indirectly. The fund has no shareholder transaction expenses.


2		A $4.00 fee will be charged for wire redemptions.

3		Except for investments of $1 million or more; see “How sales charges are calculated.”

4		Only if sold within the first year after purchase; see “How sales charges are calculated.”

5		The adviser intends to waive its advisory fee or reimburse the fund in an amount such that, with respect to such other assets, the sum of (i) the advisory fee paid by the fund to the adviser and (ii) the advisory fee paid by the underlying fund to and retained (after payment of any subadvisory fee) by the adviser or its affiliate, does not exceed an annual rate of 0.50%. See “Fund details — Management fees” for further information.

6		The Total fund operating expenses include fees and expenses incurred indirectly by the fund as a result of its investment in other investment companies (e.g., underlying funds) (each, an Acquired fund). The Total fund annual expenses shown may not correlate to the fund’s ratio of expenses to average net assets shown in the Financial highlights section, which does not include Acquired fund fees and expenses.

7		The adviser has contractually agreed to waive advisory fees or reimburse fund expenses for each of these classes of shares to the extent that blue sky fees and printing and postage expenses attributable to each class exceed 0.09% of the average annual net assets attributable to the class. This agreement remains in effect until May 1, 2009, and may thereafter be terminated by the adviser any time.

8		Reflects conversion of Class B shares to Class A shares after eight years.

Lifestyle Moderate Portfolio – Fund summary

Fund summary

John Hancock

Day-to-day investment management: MFC Global Investment Management (U.S.A.) Limited

Class / Ticker A / JALRX B / JBLCX C / JCLCX

Goal and strategy

The fund seeks a high level of current income, with some consideration given to growth of capital.

To pursue this goal, the fund, which is a fund of funds, normally invests approximately 20% of its assets in underlying funds that invest primarily in equity securities and approximately 80% in underlying funds that invest primarily in fixed-income securities.

Variations in the target percentage allocation between underlying funds that invest primarily in equity securities and underlying funds that invest primarily in fixed-income securities are permitted up to 10% in either direction. Thus, based on its investment allocation of approximately 20% of assets in equity underlying funds and 80% in fixed-income underlying funds, the fund may have an equity/fixed-income underlying fund allocation of 30%/70% or 10%/90%. Although variations beyond the 10% range are generally not permitted, the subadviser may determine in light of market or economic conditions that the normal percentage limitations should be exceeded to protect the fund or to achieve its goal.

Within the prescribed percentage allocation, the subadviser selects the percentage level to be maintained in specific underlying funds. The assets of the fund are rebalanced quarterly to maintain the selected percentage level. The subadviser may from time to time adjust the percentage of assets invested in any specific underlying funds to increase or decrease the fund’s holdings of particular assets classes, such as common stocks of foreign issuers, to adjust fund quality or the duration of fixed-income securities, to increase or reduce the percentage of the fund’s assets subject to the management of a particular subadviser or to reflect fundamental changes in the investment environment.

The fund may invest in various underlying funds that as a group hold a wide range of equity type securities in their funds. These include small-, mid- and large-capitalization stocks; domestic and foreign securities (including emerging market securities); and sector holdings, such as utilities and science and technology stocks. In addition to investing in exchange traded funds (ETFs), the fund may also invest in the securities of other investment companies and may make direct investments in other types of investments. Each of the underlying funds has its own investment strategy which, for example, may focus on growth stocks or value stocks or may employ a strategy combining growth and income stocks and/or may invest in derivatives such as options on securities and futures contracts. Certain of the underlying funds in which the fund invests focus their investment strategy on fixed-income securities, which may include investment grade and below investment grade debt securities with maturities that range from short to longer term. The fixed-income underlying funds collectively hold various types of debt instruments, such as corporate bonds and mortgage-backed, government-issued, domestic and international securities.

Main risks

Exchange traded funds risk Owning an ETF generally reflects the risks of owning the underlying securities it is designed to track.

Fund of funds risk The fund is subject to the performance of the underlying funds in which it invests.

Investment company securities risk The fund bears its own expenses and indirectly bears its proportionate share of expenses of the underlying funds in which it invests.

Management risk The fund team’s investment strategy may fail to produce the intended result.

Lifestyle Conservative Portfolio – Fund summary

Past performance

Calendar year total returns — Class A (%)

Best quarter: Q3 ’06, 3.60 Worst quarter: Q2 ’06, –0.52

2006

2007

7.81%

4.89

[BAR CHART]

Average annual total returns (%)

1 Year

Inception

as of 12-31-07

10-17-05

Class A before tax

–0.36

4.20

After tax on distributions

–1.90

2.54

After tax on distributions, with sale

–0.22

2.62

Class B before tax

–0.89

4.59

Class C before tax

3.22

5.89

20% Standard & Poor’s 500 Index/80% Lehman Brothers U.S. Aggregate Index

6.77

7.06

Calendar year total returns

These do not include sales charges. They are shown only for Class A and would be different for other classes. These represent how a fund’s returns vary from year to year and can give an idea of its risk; however, as always, past performance (before and after taxes) does not indicate future results. All figures assume dividend reinvestment.

Average annual total returns

These include sales charges. Performance of broad-based indexes is included for comparison. Indexes have no sales charges and you cannot invest in them directly.

Standard & Poor’s 500 Index is an unmanaged index that includes 500 widely traded common stocks.

Lehman Brothers U.S. Aggregate Index is an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.


1		Index figure as of closest month end to inception date.

Investor costs


Shareholder transaction expenses² (%)	Class A			Class B		Class C

Maximum front-end sales charge (load) as a percentage of purchase price		5.00			—		—

Maximum deferred sales charge (load) as a percentage of purchase or redemption price, whichever is less		—	³		5.00		1.00	⁴


Annual operating expenses (%)	Class A		Class B		Class C

Management fee⁵		0.04		0.04		0.04

Distribution and service (12b-1) fees		0.30		1.00		1.00

Other expenses		0.21		0.50		0.24

Acquired fund fees and expenses		0.80		0.80		0.80

Total fund operating expenses⁶		1.35		2.34		2.08

Contractual expense reimbursement (until at least 5-1-09)⁷		–0.01		–0.22		—

Net fund operating expenses		1.34		2.12		2.08

Expense example


Expenses ($)	Class A		Class B					Class C

				with redemptions		without redemptions			with redemptions	without redemptions

1 Year		630		715		215			311	211

3 Years		905		1,009		709			652	652

5 Years		1,201		1,430		1,230			1,119	1,119

10 Years		2,042		2,411	⁸	2,411	⁸		2,410	2,410

Annual operating expenses

These are paid from fund assets; shareholders therefore pay these costs indirectly. The fund has no shareholder transaction expenses.


2		A $4.00 fee will be charged for wire redemptions.

3		Except for investments of $1 million or more; see “How sales charges are calculated.”

4		Only if sold within the first year after purchase; see “How sales charges are calculated.”

5		The adviser intends to waive its advisory fee or reimburse the fund in an amount such that, with respect to such other assets, the sum of (i) the advisory fee paid by the fund to the adviser and (ii) the advisory fee paid by the underlying fund to and retained (after payment of any subadvisory fee) by the adviser or its affiliate, does not exceed an annual rate of 0.50%. See “Fund details — Management fees” for further information.

6		The Total fund operating expenses include fees and expenses incurred indirectly by the fund as a result of its investment in other investment companies (e.g., underlying funds) (each, an Acquired fund). The Total fund annual expenses shown may not correlate to the fund’s ratio of expenses to average net assets shown in the Financial highlights section, which does not include Acquired fund fees and expenses.

7		The adviser has contractually agreed to waive advisory fees or reimburse fund expenses for each of these classes of shares to the extent that blue sky fees and printing and postage expenses attributable to each class exceed 0.09% of the average annual net assets attributable to the class. This agreement remains in effect until May 1, 2009, and may thereafter be terminated by the adviser any time.

8		Reflects conversion of Class B shares to Class A shares after eight years.

Lifestyle Conservative Portfolio – Fund summary

Fund details

Risks of investing in the fund of funds

The fund may directly:


•	Purchase U.S. government securities and short-term paper.

•	Purchase shares of other registered open-end investment companies (and registered unit investment trusts) within the same “group of investment companies” as that term is defined in Section 12 of the Investment Company Act of 1940, as amended (the 1940 Act).

•	Purchase shares of other registered open-end investment companies (and registered unit investment trusts) where the adviser is not the same as, or affiliated with, the Adviser to the Portfolio, including exchange traded funds.

•	Invest in equity securities, which may include common and preferred stocks of large-, medium- and small-capitalization companies in both developed (including the U.S.) and emerging markets.

•	Invest in fixed-income securities, which may include debt securities of governments throughout the world (including the U.S.), their agencies and instrumentalities, debt securities of corporations and supranationals, inflation protected securities, convertible bonds, mortgaged-backed securities, asset-backed securities and collateralized debt securities. Investments in fixed-income securities may include securities of issuers in both developed (including the U.S.) and emerging markets and may include fixed-income securities rated below investment grade.

•	Purchase securities of registered closed-end investment companies that are part of the same “group of investment companies” as that term is defined in Section 12 of the 1940 Act.

•	Invest up to 15% of its net assets in illiquid securities of such entities as limited partnerships and other pooled investment vehicles such as hedge funds.

•	Make short sales of securities (borrow and sell securities not owned by the fund), either to realize appreciation when a security that the fund does not own declines in value or as a hedge against potential declines in the value of a Portfolio security.

•	Invest in publicly traded partnerships, including publicly traded partnerships that invest principally in commodities or commodities linked derivatives.

The fund may use various investment strategies such as hedging and other related transactions. For example, the fund may use derivative instruments (such as options, futures and swaps) for hedging purposes, including hedging various market risks and managing the effective maturity or duration of debt instruments held by the fund. In addition, these strategies may be used to gain exposure to a particular securities market. The fund also may purchase and sell commodities and may enter into swap contracts and other commodity-linked derivative instruments including those linked to physical commodities. Please refer to “Risk of hedging and other strategic transactions” in the Statement of Additional Information (SAI).

Because of uncertainties under Federal tax laws as to whether income from commodity-linked derivative instruments would constitute “qualifying income” to a regulated investment company, the funds are not permitted to invest in such instruments unless the subadviser obtains prior written approval from the funds’ Chief Compliance Officer. See “Additional information concerning taxes” in the SAI.

Asset allocation management

Subject to the limitations described above, the fund may at any time invest any percentage of its assets in any of the different investments described above. The subadviser may from time to time adjust the percentage of assets invested in any specific investment held by the fund. Such adjustments may be made, for example, to increase or decrease the fund’s holdings of particular asset classes, to adjust fund quality or the duration of fixed-income securities or to increase or reduce the percent of the fund’s assets subject to the management of a particular underlying fund’s subadviser. In addition, changes may be made to reflect fundamental changes in the investment environment.

Temporary defensive investing

The fund may invest up to 100% of its assets in cash or money market instruments for the purpose of:


•	meeting redemption requests,

•	making other anticipated cash payments, or

•	protecting the fund in the event the subadviser determines that market or economic conditions warrant a defensive posture.

To the extent the fund is in a defensive position, its ability to achieve its investment goal will be limited.

Below are descriptions of the factors that may play a role in shaping the fund’s overall risk profile. The descriptions appear in alphabetical order, not in order of importance. For further details about fund risks, including additional risk factors that are not discussed in this prospectus because they are not considered primary factors, see the funds’ SAI.

Exchange traded funds (ETFs) risk

These are a type of investment company bought and sold on a securities exchange. An ETF represents a fixed portfolio of securities designed to track a particular market index. A fund could purchase an ETF to temporarily gain exposure to a portion of the U.S. or a foreign market while awaiting purchase of underlying securities. The risks of owning an ETF generally reflect the risks of owning the underlying securities they are designed to track, although lack of liquidity in an ETF could result in it being more volatile and ETFs have management fees which increase their costs.

Fund of funds risk

A fund’s ability to achieve its investment goal will depend largely on the ability of the subadviser to select the appropriate mix of underlying funds. In addition, achieving a fund’s objective will depend on the performance of the underlying funds which depends on the underlying funds’ ability to meet their investment objectives. There can be no assurance that either the funds or the underlying funds will achieve their investment objectives.

A fund is subject to the same risks as the underlying funds in which it invests. The fund invests in underlying funds that invest in fixed-income securities (including in some cases high yield securities) and equity securities, including foreign securities, and engage in hedging and other strategic transactions. To the extent that a fund invests in these securities directly or engages in hedging and other strategic transactions, the fund will be subject to the same risks.

Lifestyle Portfolios – Fund details

Investment company securities risk

The funds bear their own expenses and indirectly bear their proportionate share of expenses of the underlying funds in which they invest.

By owning shares of underlying funds, each of the funds indirectly invests, to varying degrees, in equity securities of U.S. companies, including small and medium-size companies and in fixed-income securities. Many of the underlying funds also invest in foreign securities. In addition, most of the underlying funds may invest in derivatives. To the extent that a fund invests directly in these securities or investments, the fund will be subject to the same risks. In this section, an underlying fund is referred to as a fund.

Equity securities risk

Equity securities include common, preferred and convertible preferred stocks and securities the values of which are tied to the price of stocks, such as rights, warrants and convertible debt securities. Common and preferred stocks represent equity ownership in a company. Stock markets are volatile. The price of equity securities will fluctuate and can decline and reduce the value of a fund investing in equities. The price of equity securities fluctuates based on changes in a company’s financial condition and overall market and economic conditions. The value of equity securities purchased by a fund could decline if the financial condition of the companies the funds are invested in declines or if overall market and economic conditions deteriorate. Even funds that invest in high quality or “blue chip” equity securities or securities of established companies with large market capitalizations (which generally have strong financial characteristics) can be negatively impacted by poor overall market and economic conditions. Companies with large market capitalizations may also have less growth potential than smaller companies and may be able to react less quickly to changes in the marketplace. The funds may maintain substantial exposure to equities and generally do not attempt to time the market. Because of this exposure, the possibility that stock market prices in general will decline over short or extended periods subjects the funds to unpredictable declines in the value of their investments, as well as periods of poor performance.

Value investing risk. Certain equity securities (generally referred to as value securities) are purchased primarily because they are selling at prices below what a subadviser believes to be their fundamental value and not necessarily because the issuing companies are expected to experience significant earnings growth. The funds bear the risk that the companies that issued these securities may not overcome the adverse business developments or other factors causing their securities to be perceived by the subadvisers to be underpriced or that the market may never come to recognize their fundamental value. A value stock may not increase in price, as anticipated by the subadviser investing in such securities, if other investors fail to recognize the company’s value and bid up the price or invest in markets favoring faster growing companies. A fund’s strategy of investing in value stocks also carries the risk that in certain markets value stocks will underperform growth stocks.

Growth investing risk. Certain equity securities (generally referred to as growth securities) are purchased primarily because a subadviser believes that these securities will experience relatively rapid earnings growth. Growth securities typically trade at higher multiples of current earnings than other securities. Growth securities are often more sensitive to market fluctuations than other securities because their market prices are highly sensitive to future earnings expectations. At times when it appears that these expectations may not be met, growth stock prices typically fall.

Fixed-income securities risk

Fixed income securities are generally subject to two principal types of risks: (a) interest rate risk and (b) credit quality risk.

Interest rate risk. Fixed-income securities are affected by changes in interest rates. When interest rates decline, the market value of the fixed income securities generally can be expected to rise. Conversely, when interest rates rise, the market value of fixed income securities generally can be expected to decline. The longer the duration or maturity of a fixed-income security, the more susceptible it is to interest rate risk.

Credit quality risk. Fixed-income securities are subject to the risk that the issuer of the security will not repay all or a portion of the principal borrowed and will not make all interest payments. If the credit quality of a fixed income security deteriorates after a fund has purchased the security, the market value of the security may decrease and lead to a decrease in the value of the fund’s investments. Funds that may invest in lower rated fixed income securities commonly referred to as “junk” securities are riskier than funds that may invest in higher rated fixed income securities. Additional information on the risks of investing in investment grade fixed income securities in the lowest rating category and lower rated fixed income securities is set forth below.

Investment grade fixed income securities in the lowest rating category risk. Investment grade fixed income securities in the lowest rating category (rated “Baa” by Moody’s or “BBB” by S&P’s and comparable unrated securities) involve a higher degree of risk than fixed income securities in the higher rating categories. While such securities are considered investment grade quality and are deemed to have adequate capacity for payment of principal and interest, such securities lack outstanding investment characteristics and have speculative characteristics as well. For example, changes in economic conditions or other circumstances are more likely to lead to a weakened capacity to make principal and interest payments than is the case with higher grade securities.

Lower rated fixed income securities risk and high yield securities risk. Lower rated fixed income securities are defined as securities rated below investment grade (rated “Ba” and below by Moody’s and “BB” and below by S&P) (also called junk bonds). The general risks of investing in these securities are as follows:

Risk to principal and income. Investing in lower rated fixed income securities is considered speculative. While these securities generally provide greater income potential than investments in higher rated securities, there is a greater risk that principal and interest payments will not be made. Issuers of these securities may even go into default or become bankrupt.

Price volatility. The price of lower rated fixed income securities may be more volatile than securities in the higher rating categories. This volatility may increase during periods of economic uncertainty or change. The price of these securities is affected more than higher rated fixed income securities by the market’s perception of their credit quality, especially during times of adverse publicity. In the past, economic downturns or an increase in interest rates have, at times, caused more defaults by issuers of these securities and may do so in the future. Economic downturns and increases in interest rates have an even greater affect on highly leveraged issuers of these securities.

Liquidity. The market for lower rated fixed income securities may have more limited trading than the market for investment grade fixed income securities. Therefore, it may be more difficult to sell these securities and these securities may have to be sold at prices below their market value in order to meet redemption requests or to respond to changes in market conditions.

Dependence on subadviser’s own credit analysis. While the subadviser may rely on ratings by established credit rating agencies, it

Lifestyle Portfolios – Fund details

will also supplement such ratings with its own independent review of the credit quality of the issuer. Therefore, the assessment of the credit risk of lower rated fixed income securities is more dependent on the subadviser’s evaluation than the assessment of the credit risk of higher rated securities.

Additional risks regarding lower rated corporate fixed income securities. Lower rated corporate debt securities (and comparable unrated securities) tend to be more sensitive to individual corporate developments and changes in economic conditions than higher-rated corporate fixed income securities. Issuers of lower rated corporate debt securities may also be highly leveraged, increasing the risk that principal and income will not be repaid.

Additional risks regarding lower rated foreign government fixed income securities. Lower rated foreign government fixed income securities are subject to the risks of investing in emerging market countries described under “Foreign securities risk.” In addition, the ability and willingness of a foreign government to make payments on debt when due may be affected by the prevailing economic and political conditions within the country. Emerging market countries may experience high inflation, interest rates and unemployment as well as exchange rate trade difficulties and political uncertainty or instability. These factors increase the risk that a foreign government will not make payments when due.

Foreign securities risk

Funds that invest in securities traded principally in securities markets outside the United States are subject to additional and more varied risks, as the value of foreign securities may change more rapidly and extremely than the value of U.S. securities. The securities markets of many foreign countries are relatively small, with a limited number of companies representing a small number of industries. Additionally, issuers of foreign securities may not be subject to the same degree of regulation as U.S. issuers. Reporting, accounting and auditing standards of foreign countries differ, in some cases significantly, from U.S. standards. There are generally higher commission rates on foreign fund transactions, transfer taxes, higher custodial costs and the possibility that foreign taxes will be charged on dividends and interest payable on foreign securities. Also, for lesser developed countries, nationalization, expropriation or confiscatory taxation, adverse changes in investment or exchange control regulations (which may include suspension of the ability to transfer currency from a country), political changes or diplomatic developments could adversely affect a fund’s investments. In the event of nationalization, expropriation or other confiscation, a fund could lose its entire investment in a foreign security.

Currency risk. Currency risk is the risk that fluctuations in exchange rates may adversely affect the U.S. dollar value of a fund’s investments. Currency risk includes both the risk that currencies in which a fund’s investments are traded, or currencies in which a fund has taken an active investment position, will decline in value relative to the U.S. dollar and, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency being hedged. Currency rates in foreign countries may fluctuate significantly for a number of reasons, including the forces of supply and demand in the foreign exchange markets, actual or perceived changes in interest rates, and intervention (or the failure to intervene) by U.S. or foreign governments or central banks, or by currency controls or political developments in the U.S. or abroad. Certain funds may engage in proxy hedging of currencies by entering into derivative transactions with respect to a currency whose value is expected to correlate to the value of a currency the fund owns or wants to own. This presents the risk that the two currencies may not move in relation to one another as expected. In that case, the fund could lose money on its investment and also lose money on the position designed to act as a proxy hedge. Certain funds may also take active currency positions and may cross-hedge currency exposure represented by their securities into another foreign currency. This may result in a fund’s currency exposure being substantially different than that suggested by its securities investments. All funds with foreign currency holdings and/or that invest or trade in securities denominated in foreign currencies or related derivative instruments may be adversely affected by changes in foreign currency exchange rates. Derivative foreign currency transactions (such as futures, forwards and swaps) may also involve leveraging risk, in addition to currency risk. Leverage may disproportionately increase a fund’s portfolio losses and reduce opportunities for gain when interest rates, stock prices or currency rates are changing.

Management risk

A fund is subject to management risk because it relies on the subadviser’s ability to pursue its objective. The subadviser will apply investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these will produce the desired results. The subadviser may fail to use derivatives effectively, for example, choosing to hedge or not to hedge positions precisely when it is least advantageous to do so. Funds generally do not attempt to time the market and instead generally stay fully invested in the relevant asset class, such as domestic equities or foreign equities. Notwithstanding its benchmark, a fund may buy securities not included in its benchmark or hold securities in very different proportions than its benchmark. To the extent a fund invests in those securities, its performance depends on the ability of the subadviser to choose securities that perform better than securities that are included in the benchmark.

These investment strategies and securities are described further in the SAI.

Below are the names of the various entities involved with the funds’ investment and business operations, along with brief descriptions of the role each entity performs.

Trustees

Oversee the funds’ business activities and retain the services of the various firms that carry out the funds’ operations. The Board of Trustees has the power to change the respective investment goal of each of the funds without shareholder approval.

Investment adviser

Manages the funds’ business and investment activities.

John Hancock Investment Management Services, LLC
601 Congress Street
Boston, MA 02210-2805

The adviser administers the business and affairs of the funds and retains and compensates an investment subadviser to manage the assets of the funds. As of December 31, 2007, the adviser had total assets under management of approximately $109 billion.

The adviser does not itself manage any of the funds’ portfolio assets but has ultimate responsibility to oversee the subadviser. In this connection, the adviser: (i) monitors the compliance of the subadviser with the investment objectives and related policies of the funds, (ii) reviews the performance of the subadviser, and (iii) reports periodically on such performance to the Board of Trustees.

Lifestyle Portfolios – Fund details

order does not, however, permit the adviser to appoint a subadviser that is an affiliate of the adviser or the fund (other than by reason of serving as a subadviser to the fund) or to change a subadvisory fee of a affiliated subadviser without the approval of the shareholders.

Management fees

Each fund pays the adviser a management fee for its services to the fund. The management fee has two components: (a) a fee on assets invested in a fund of John Hancock Funds II (JHF II) or John Hancock Funds III (JHF III); and (b) a fee on assets invested in investments other than a fund of JHF II or JHF III (other assets).

The fee on assets invested in a fund of JHF II or JHF III is stated as an annual percentage of the current value of the aggregate net assets of the fund, the four other Lifestyle funds, and of the five corresponding Lifestyle Trusts of John Hancock Trust (JHT) (but only for the period during which the subadviser to the fund also serves as the subadviser for such other JHT and JHF II funds), determined in accordance with the following schedule.

Advisory fee on assets invested in a fund of JHF II and JHF III

The fee on other assets is stated as an annual percentage of the current value of the aggregate net assets of the fund, the four other Lifestyle funds, and of the five corresponding Lifestyle Trusts of JHT (but only for the period during which the subadviser to the fund also serves as the subadviser for such other JHT and JHF II funds) determined in accordance with the following schedule.

Advisory fee on other assets


	First			Excess over
	$7.5 billion			$7.5 billion


Each Lifestyle fund		0.500	%	0.490%

During their most recent full fiscal year, the funds paid the following management fees as a percentage of net assets to the investment adviser, which were based on a prior management fee structure. The prior management fee rate was 0.050% of the first $7.5 billion and 0.040% of the excess over $7.5 billion as a percentage of aggregate net assets.

Lifestyle Aggressive Portfolio: 0.041%
Lifestyle Growth Portfolio: 0.041%
Lifestyle Balanced Portfolio: 0.041%
Lifestyle Moderate Portfolio: 0.041%
Lifestyle Conservative Portfolio: 0.041%

Out of these fees, the investment adviser in turn paid the fees of the subadviser and certain other service providers.

The basis for the Trustees’ approval of the advisory fees, and of the investment advisory agreement overall, including the subadvisory agreement, is discussed in the funds’ December 31, 2007 annual report and June 30, 2007 semiannual report.

Subadviser

Handles the funds’ day-to-day fund management.

MFC Global Investment Management (U.S.A.) Limited
200 Bloor Street East
Toronto, Ontario, Canada M4W 1E5


•	provides investment advisory services to individual and institutional investors and is a wholly owned subsidiary of Manulife Financial Corporation

•	as of December 31, 2007, it and its affiliates had total assets under management of approximately $217 billion

•	supervised by the adviser, John Hancock Investment Management Services, LLC

Subadviser consultant

Deutsche Investment Management Americas, Inc.
345 Park Avenue
New York, NY10154


•	provides subadvisory consulting services to the subadviser in its management of the funds

•	provides investment advisory services to retail and institutional clients

•	is a wholly owned subsidiary of Deutsche Bank AG, an international commercial and investment banking group

Portfolio Managers

Below are brief biographical profiles of the leaders of the funds’ investment management team, in alphabetical order. These managers share portfolio management responsibilities. For more about these individuals, including information about their compensation, other accounts they manage and any investments they may have in the funds, see the SAI.

Steve Orlich


•	portfolio manager since inception

•	joined MFC Global Investment Management (U.S.A.) Limited in 1998

•	Vice president and senior portfolio manager, Asset Allocation Portfolios

Scott Warlow


•	portfolio manager since 2007

•	joined MFC Global Investment Management (U.S.A.) Limited in 2002

•	Assistant vice president and portfolio manager, Asset Allocation Portfolios

Custodian

Holds the funds’ assets, settles all fund trades and collects most of the valuation data required for calculating each fund’s net asset value (NAV).

State Street Bank & Trust Company
2 Avenue de Lafayette
Boston, MA 02111

Principal distributor

Markets the funds and distributes shares through selling brokers, financial planners and other financial representatives.

John Hancock Funds, LLC
601 Congress Street
Boston, MA 02210-2805

Transfer agent

Handles shareholder services, including recordkeeping and statements, distribution of dividends, and processing of buy and sell requests.

John Hancock Signature Services, Inc.
P.O. Box 9510
Portsmouth, NH 03802-9510

Lifestyle Portfolios – Fund details

How sales charges are calculated

The financial highlights table below for each fund is intended to help investors understand the financial performance of the fund since inception. The total returns presented in the table represent the rate an investor would have earned (or lost) on an investment in a particular fund (assuming reinvestment of all dividends and distributions).

The financial statements of the funds as of December 31, 2007, have been audited by PricewaterhouseCoopers LLP, independent registered public accounting firm. The report of PricewaterhouseCoopers LLP is included, along with the funds’ financial statements, in the funds’ annual reports, which have been incorporated by reference into the SAI and are available upon request.

Lifestyle Aggressive Class A Shares


Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$12.63			$14.06			$14.72

Income (loss) from investment operations

Net investment income (loss)^1,2		(0.07	)		0.08			0.11

Net realized and unrealized gain (loss) on investments		1.56			1.24			1.05

Total from investment operations		1.49			1.32			1.16

Less distributions

From net investment income		(0.06	)		(0.37	)		(0.12	)

From net realized gain		—			(0.29	)		(0.54	)

From capital paid-in		—			—			—

Total distributions		(0.06	)		(0.66	)		(0.66	)

Net asset value, end of period		$14.06			$14.72			$15.22

Total Return³ (%)		11.85	^6,7		9.40	^6,7		8.00	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$35			$56			$116

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)		0.84	^8,9		0.65	^8,9		0.59	⁸

Ratio of net expenses to average net assets⁴ (%)		0.65	⁹		0.64	⁹		0.59	¹⁴

Ratio of net investment income (loss) to average net assets¹ (%)		(0.59	)⁹		1.69	⁹		0.69

Portfolio turnover (%)		23	⁷		5	⁷		21


Class B Shares
Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$12.63			$14.00			$14.72

Income (loss) from investment operations

Net investment income (loss)^1,2		(0.15	)		0.05			(0.02	)

Net realized and unrealized gain (loss) on investments		1.56			1.23			1.07

Total from investment operations		1.41			1.28			1.05

Less distributions

From net investment income		(0.04	)		(0.27	)		—

From net realized gain		—			(0.29	)		(0.54	)

From capital paid-in		—			—			—

Total distributions		(0.04	)		(0.56	)		(0.54	)

Net asset value, end of period		$14.00			$14.72			$15.23

Total Return³ (%)		11.22	^6,7		9.15	^6,7		7.23	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$8			$13			$24

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)		2.00	^8,9		1.54	^8,9		1.37	⁸

Ratio of net expenses to average net assets⁴ (%)		1.34	⁹		1.35	⁹		1.35	¹⁴

Ratio of net investment income (loss) to average net assets¹ (%)		(1.23	)⁹		1.07	⁹		(0.13	)

Portfolio turnover (%)		23	⁷		5	⁷		21

Lifestyle Portfolios – Fund details

Class C Shares


Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$12.63			$14.00			$14.73

Income (loss) from investment operations

Net investment income (loss)^1,2		(0.15	)		0.05			—	¹¹

Net realized and unrealized gain (loss) on investments		1.57			1.24			1.05

Total from investment operations		1.42			1.29			1.05

Less distributions

From net investment income		(0.05	)		(0.27	)		(0.01	)

From net realized gain		—			(0.29	)		(0.54	)

From capital paid-in		—			—			—

Total distributions		(0.05	)		(0.56	)		(0.55	)

Net asset value, end of period		$14.00			$14.73			$15.23

Total Return³ (%)		11.22	^6,7		9.22	^6,7		7.21	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$25			$39			$95

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)		1.60	^8,9		1.36	^8,9		1.32	⁸

Ratio of net expenses to average net assets⁴ (%)		1.34	⁹		1.35	⁹		1.31	¹⁴

Ratio of net investment income (loss) to average net assets¹ (%)		(1.27	)⁹		1.10	⁹		0.03

Portfolio turnover (%)		23	⁷		5	⁷		21

Lifestyle Growth Class A Shares


Per share operating performance	8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.35			$14.63			$14.72

Income (loss) from investment operations

Net investment income (loss)^1,2		0.07			0.16			0.28

Net realized and unrealized gain (loss) on investments		1.28			1.01			0.73

Total from investment operations		1.35			1.17			1.01

Less distributions

From net investment income		(0.07	)		(0.43	)		(0.23	)

From net realized gain		—			(0.36	)		(0.45	)

From capital paid-in		—			(0.29	)		—

Total distributions		(0.07	)		(1.08	)		(0.68	)

Net asset value, end of period		$14.63			$14.72			$15.05

Total return³ (%)		10.18	^6,7		8.00	⁷		6.96	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$103			$165			$332

Ratios to average net assets

Ratio of gross expenses to average net assets⁴ (%)		0.72	^8,9		0.58	⁹		0.54	⁸

Ratio of net expenses to average net assets ⁴ (%)		0.61	⁹		0.58	⁹		0.53	¹⁴

Ratio of net investment income (loss) to average net assets¹ (%)		0.55	⁹		3.18	⁹		1.79

Portfolio turnover (%)		26	⁷		4	⁷		18

Lifestyle Portfolios – Fund details

Class B Shares


Per share operating performance	8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.35			$14.57			$14.73

Income (loss) from investment operations

Net investment income (loss)^1,2		(0.02	)		0.12			0.16

Net realized and unrealized gain (loss) on investments		1.30			1.01			0.73

Total from investment operations		1.28			1.13			0.89

Less distributions

From net investment income		(0.06	)		(0.36	)		(0.11	)

From net realized gain		—			(0.36	)		(0.45	)

From capital paid-in		—			(0.25	)		—

Total distributions		(0.06	)		(0.97	)		(0.56	)

Net asset value, end of period		$14.57			$14.73			$15.06

Total return³ (%)		9.57	^6,7		7.77	^6,7		6.14	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$24			$39			$78

Ratios to average net assets

Ratio of gross expenses to average net assets⁴ (%)		1.69	^8,9		1.40	^8,9		1.30	⁸

Ratio of net expenses to average net assets ⁴ (%)		1.34	⁹		1.35	⁹		1.29	¹⁴

Ratio of net investment income (loss) to average net assets¹ (%)		(0.19	)⁹		2.45	⁹		1.02

Portfolio turnover (%)		26	⁷		4	⁷		18


Class C Shares
Per share operating performance	8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.35			$14.57			$14.72

Income (loss) from investment operations

Net investment income (loss)^1,2		(0.02	)		0.13			0.16

Net realized and unrealized gain (loss) on investments		1.30			0.99			0.74

Total from investment operations		1.28			1.12			0.90

Less distributions

From net investment income		(0.06	)		(0.36	)		(0.12	)

From net realized gain		—			(0.36	)		(0.45	)

From capital paid-in		—			0.25			—

Total distributions		(0.06	)		(0.97	)		(0.57	)

Net asset value, end of period		$14.57			$14.72			$15.05

Total return³ (%)		9.57	^6,7		7.73	⁷		6.19	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$93			$152			$294

Ratios to average net assets

Ratio of gross expenses to average net assets⁴ (%)		1.44	^8,9		1.29	⁹		1.25

Ratio of net expenses to average net assets⁴ (%)		1.33	⁹		1.29	⁹		1.25	¹⁴

Ratio of net investment income (loss) to average net assets¹ (%)		(0.14	)⁹		2.53	⁹		1.05

Portfolio turnover (%)		26	⁷		4	⁷		18

Lifestyle Portfolios – Fund details

Lifestyle Balanced Class A Shares


Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.35			$14.38			$14.37

Income (loss) from investment operations

Net investment income (loss)^1,2		0.19			0.24			0.42

Net realized and unrealized gain (loss) on investments		1.01			0.81			0.42

Total from investment operations		1.20			1.05			0.84

Less distributions

From net investment income		(0.17	)		(0.43	)		(0.35	)

From net realized gain		—	¹¹		(0.27	)		(0.32	)

From capital paid-in		—			(0.36	)		—

Total distributions		(0.17	)		(1.06	)		(0.67	)

Net asset value, end of period		14.38			14.37			14.54

Total return³ (%)		9.08	^6,7		7.25	⁷		5.90	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$81			$125			$284

Ratios to average net assets

Ratio of gross expenses to average net assets⁴ (%)		0.70	^8,9		0.55	⁹		0.51	⁸

Ratios of net expenses to average net assets⁴ (%)		0.58	⁹		0.55	⁹		0.50	¹⁴

Ratios of net investment income (loss) to average net assets¹ (%)		1.60	⁹		4.77	⁹		2.84

Portfolio turnover (%)		23	⁷		3	⁷		14


Class B Shares
Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.35			$14.37			$14.37

Income (loss) from investment operations

Net investment income (loss)^1,2		0.10			0.20			0.29

Net realized and unrealized gain (loss) on investments		1.02			0.81			0.42

Total from investment operations		1.12			1.01			0.71

Less distributions

From net investment income		(0.10	)		(0.40	)		(0.23	)

From net realized gain		—	¹¹		(0.27	)		(0.32	)

From capital paid-in		—			(0.34	)		—

Total distributions		(0.10	)		(1.01	)		(0.55	)

Net asset value, end of period		$14.37			$14.37			$14.53

Total return³ (%)		8.47	^6,7		6.96	^6,7		5.02	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$20			$32			$60

Ratios to average net assets

Ratio of gross expenses to average net assets⁴ (%)		1.73	^8,9		1.41	^8,9		1.30	⁸

Ratios of net expenses to average net assets⁴ (%)		1.34	⁹		1.34	⁹		1.30	¹⁴

Ratios of net investment income (loss) to average net assets¹ (%)		0.84	⁹		4.00	⁹		1.95

Portfolio turnover (%)		23	⁷		3	⁷		14

Lifestyle Portfolios – Fund details

Class C Shares


Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.35			$14.38			$14.39

Income (loss) from investment operations

Net investment income (loss)^1,2		0.12			0.20			0.31

Net realized and unrealized gain (loss) on investments		1.01			0.82			0.42

Total from investment operations		1.13			1.02			0.73

Less distributions

From net investment income		(0.10	)		(0.40	)		(0.25	)

From net realized gain		—	¹¹		(0.27	)		(0.32	)

From capital paid-in		—			(0.34	)		—

Total distributions		(0.10	)		(1.01	)		(0.57	)

Net asset value, end of period		$14.38			$14.39			$14.55

Total return³ (%)		8.55	^6,7		7.03	⁷		5.10	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$79			$128			$268

Ratios to average net assets

Ratio of gross expenses to average net assets⁴ (%)		1.41	^8,9		1.25	⁹		1.22	⁸

Ratios of net expenses to average net assets⁴ (%)		1.29	⁹		1.25	⁹		1.21	¹⁴

Ratios of net investment income (loss) to average net assets¹ (%)		0.97	⁹		4.10	⁹		2.09

Portfolio turnover (%)		23	⁷		3	⁷		14

Lifestyle Moderate Class A Shares


Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$12.94			$13.64			$13.53

Income (loss) from investment operations

Net investment income (loss)^1,2		0.25			0.27			0.50

Net realized and unrealized gain (loss) on investments		0.66			0.52			0.14

Total from investment operations		0.91			0.79			0.64

Less distributions

From net investment income		(0.21	)		(0.36	)		(0.41	)

From net realized gain		—			(0.21	)		(0.19	)

From capital paid-in		—			(0.33	)		—

Total distributions		(0.21	)		(0.90	)		(0.60	)

Net asset value, end of period		$13.64			$13.53			$13.57

Total Return³ (%)		7.10	^6,7		5.77	^6,7		4.78	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$25			$37			$76

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)		0.83	^8,9		0.57	^8,9		0.53	⁸

Ratio of net expenses to average net assets⁴ (%)		0.57	⁹		0.56	⁹		0.53	¹⁴

Ratio of net investment income (loss) to average net assets¹ (%)		2.21	⁹		5.86	⁹		3.57

Portfolio turnover (%)		24	⁷		1	⁷		13

Lifestyle Portfolios – Fund details

Class B Shares


Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$12.94			$13.62			$13.52

Income (loss) from investment operations

Net investment income (loss)^1,2		0.15			0.23			0.38

Net realized and unrealized gain (loss) on investments		0.68			0.52			0.15

Total from investment operations		0.83			0.75			0.53

Less distributions

From net investment income		(0.15	)		(0.33	)		(0.30	)

From net realized gain		—			(0.21	)		(0.19	)

From capital paid-in		—			(0.31	)		—

Total distributions		(0.15	)		(0.85	)		(0.49	)

Net asset value, end of period		$13.62			$13.52			$13.56	⁶

Total Return³ (%)		6.42	^6,7		5.49	^6,7		3.97	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$5			$7			$15

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)		2.43	^8,9		1.66	^8,9		1.43	⁸

Ratio of net expenses to average net assets⁴ (%)		1.34	⁹		1.35	⁹		1.35	¹⁴

Ratio of net investment income (loss) to average net assets¹ (%)		1.28	⁹		4.87	⁹		2.73

Portfolio turnover (%)		24	⁷		1	⁷		13


Class C Shares
Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$12.94			$13.63			$13.53

Income (loss) from investment operations

Net investment income (loss)^1,2		0.17			0.24			0.41

Net realized and unrealized gain (loss) on investments		0.67			0.51			0.13

Total from investment operations		0.84			0.75			0.54

Less distributions

From net investment income		(0.15	)		(0.33	)		(0.31	)

From net realized gain		—			(0.21	)		(0.19	)

From capital paid-in		—			(0.31	)		—

Total distributions		(0.15	)		(0.85	)		(0.50	)

Net asset value, end of period		$13.63			$13.53			$13.57

Total Return³ (%)		6.49	^6,7		5.49	^6,7		4.05	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$18			$29			$69

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)		1.67	^8,9		1.32	^8,9		1.24	⁸

Ratio of net expenses to average net assets⁴ (%)		1.29	⁹		1.28	⁹		1.24	¹⁴

Ratio of net investment income (loss) to average net assets¹ (%)		1.51	⁹		5.13	⁹		2.94

Portfolio turnover (%)		24	⁷		1	⁷		13

Lifestyle Portfolios – Fund details

Lifestyle Conservative Class A Shares


Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.16			$13.63			$13.29

Income (loss) from investment operations

Net investment income (loss)^1,2		0.31			0.33			0.59

Net realized and unrealized gain (loss) on investments		0.41			0.23			0.05

Total from investment operations		0.72			0.56			0.64

Less distributions

From net investment income		(0.25	)		(0.38	)		(0.49	)

From net realized gain		—			(0.16	)		(0.12	)

From capital paid-in		—			(0.36	)		—

Total distributions		(0.25	)		(0.90	)		(0.61	)

Net asset value, end of period		$13.63			$13.29			$13.32

Total Return³ (%)		5.53	^6,7		4.11	^6,7		4.89	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$12			$20			$44

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)		1.02	^8,9		0.64	^8,9		0.55	⁸

Ratio of net expenses to average net assets⁴ (%)		0.57	⁹		0.56	⁹		0.54	¹⁴

Ratio of net investment income (loss) to average net assets¹ (%)		2.75	⁹		7.20	⁹		4.38

Portfolio turnover (%)		20	⁷		2	⁷		13


Class B Shares
Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.16			$13.63			$13.29

Income (loss) from investment operations

Net investment income (loss)^1,2		0.24			0.29			0.50

Net realized and unrealized gain (loss) on investments		0.41			0.22			0.04

Total from investment operations		0.65			0.51			0.54

Less distributions

From net investment income		(0.18	)		(0.35	)		(0.39	)

From net realized gain		—			(0.16	)		(0.12	)

From capital paid-in		—			(0.34	)		—

Total distributions		(0.18	)		(0.85	)		(0.51	)

Net asset value, end of period		$13.63			$13.29			$13.32

Total Return³ (%)		4.99	^6,7		3.75	^6,7		4.11	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$3			$4			$10

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)		3.12	^8,9		1.88	^8,9		1.54	⁸

Ratio of net expenses to average net assets⁴ (%)		1.33	⁹		1.33	⁹		1.32	¹⁴

Ratio of net investment income (loss) to average net assets¹ (%)		2.08	⁹		6.20	⁹		3.71

Portfolio turnover (%)		20	⁷		2	⁷		13

Lifestyle Portfolios – Fund details

Class C Shares


Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.16			$13.62			$13.28

Income (loss) from investment operations

Net investment income (loss)^1,2		0.29			0.30			0.52

Net realized and unrealized gain (loss) on investments		0.35			0.21			0.04

Total from investment operations		0.64			0.51			0.56

Less distributions

From net investment income		(0.18	)		(0.35	)		(0.40	)

From net realized gain		—			(0.16	)		(0.12	)

From capital paid-in		—			(0.34	)		—

Total distributions		(0.18	)		(0.85	)		(0.52	)

Net asset value, end of period		$13.62			$13.28			$13.32

Total Return³ (%)		4.91	^6,7		3.76	^6,7		4.22	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$8			$14			$44

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)		2.05	^8,9		1.41	^8,9		1.28	⁸

Ratio of net expenses to average net assets⁴ (%)		1.31	⁹		1.29	⁹		1.28	¹⁴

Ratio of net investment income (loss) to average net assets¹ (%)		2.54	⁹		6.55	⁹		3.88

Portfolio turnover (%)		20	⁷		2	⁷		13


1		Recognition of net investment income by the Portfolio is affected by the timing of the declaration of dividends by the underlying funds in which the Portfolio invests.

2		Based on the average of the shares outstanding.

3		Assumes dividend reinvestment and does not reflect the effect of sales charges.

4		Does not include expenses of the underlying affiliated funds in which the Portfolio invests.

5		Effective January 18, 2007, the fiscal year-end changed from August 31 to December 31.

6		Total returns would have been lower had certain expenses not been reduced during the periods shown.

7		Not annualized.

8		Does not take into consideration expense reductions during the periods shown.

9		Annualized.

10		Class A, Class B, Class C, Class R3, Class R4 and Class R5 shares began operations on October 18, 2005; Class R, Class R1 and Class R2 began operations on 9-18-06; and Class 1 shares began operation on October 15, 2005.

11		Less than $0.01 per share.

12		Less than $500,000.

13		Class 5 shares began operation of July 3, 2006.

14		Ratios do not include expenses indirectly incurred from underlying portfolios whose expense ratios can vary between 0.79% and 0.91% based on the mix of underlying portfolios held by the portfolio.

15		Includes transfer agent fee earned credits of less than 0.01% to average net assets.

Lifestyle Portfolios – Fund details

Underlying fund information

The funds invest primarily in underlying funds. Therefore, each fund’s investment performance is directly related to the investment performance of the underlying funds. Information regarding the underlying funds is available in the applicable fund’s prospectus and statement of additional information. This prospectus is not an offer for any of the underlying funds. For copies of the prospectuses of the John Hancock underlying funds, which contain this and other information, visit our Web site at www.jhfunds.com.

As of March 31, 2008, the funds allocated assets to the underlying funds stated below.


Lifestyle Aggressive Portfolio


Underlying fund:		Subadviser:


All Cap Core Fund		Deutsche Investment Management Americas Inc.
All Cap Value Fund		Lord, Abbett & Co. LLC
Blue Chip Growth Fund		T. Rowe Price Associates, Inc.
Capital Appreciation Fund		Jennison Associates LLC
Core Equity Fund		Legg Mason Capital Management, Inc.
Emerging Growth Fund		MFC Global Investment Management (U.S.), LLC
Emerging Markets Value Fund		Dimensional Fund Advisors LP
Equity-Income Fund		T. Rowe Price Associates, Inc.
Fundamental Value Fund		Davis Selected Advisers, LP
International Core Fund		Grantham, Mayo, Van Otterloo & Co. LLC
International Equity Index Fund		SSgA Funds Management, Inc.
International Opportunities Fund		Marsico Capital Management, LLC
International Small Cap Fund		Templeton Investment Counsel, LLC
International Small Company Fund		Dimensional Fund Advisors LP
International Value Fund		Templeton Investment Counsel, Inc.
Large Cap Fund		UBS Global Asset Management (Americas) Inc.
Large Cap Value Fund		BlackRock Investment Management, LLC
Mid Cap Index Fund		MFC Global Investment Management (U.S.A.) Limited
Mid Cap Intersection Fund		Wellington Management Company, LLP
Mid Cap Stock Fund		Wellington Management Company, LLP
Mid Cap Value Equity Fund		RiverSource Investments, LLC
Mid Cap Value Fund		Lord, Abbett & Co. LLC
Natural Resources Fund		Wellington Management Company, LLP
Optimized Value Fund		MFC Global Investment Management (U.S.A.) Limited
Small Cap Fund		Independence Investments LLC
Small Cap Index Fund		MFC Global Investment Management (U.S.A.) Limited
Small Cap Intrinsic Value Fund		MFC Global Investment Management (U.S.), LLC
Small Company Fund		American Century Investment Management, Inc.
Small Company Value Fund		T. Rowe Price Associates, Inc.
U.S. Multi-Sector Fund		Grantham, Mayo, Van Otterloo & Co. LLC
Value & Restructuring Fund		UST Advisers, Inc.
Vista Fund		American Century Investment Management, Inc.


Lifestyle Growth Portfolio


Underlying fund:		Subadviser:


All Cap Core Fund		Deutsche Investment Management Americas Inc.
All Cap Growth Fund		AIM Capital Management, Inc.
Blue Chip Growth Fund		T. Rowe Price Associates, Inc.
Capital Appreciation Fund		Jennison Associates LLC
Core Equity Fund		Legg Mason Capital Management, Inc.
Emerging Markets Value Fund		Dimensional Fund Advisors LP
Equity-Income Fund		T. Rowe Price Associates, Inc.
Floating Rate Income Fund		Western Asset Management Company
Fundamental Value Fund		Davis Selected Advisers, LP
Global Bond Fund		Pacific Investment Management Company LLC
Global Real Estate Fund		Deutsche Investment Management Americas Inc.
High Income Fund		MFC Global Investment Management (U.S.), LLC
High Yield Fund		Western Asset Management Company
Index 500 Fund		MFC Global Investment Management (U.S.A.) Limited
International Core Fund		Grantham, Mayo, Van Otterloo & Co. LLC
International Equity Index Fund		SSgA Funds Management, Inc.
International Opportunities Fund		Marsico Capital Management, LLC
International Small Cap Fund		Templeton Investment Counsel, LLC
International Small Company Fund		Dimensional Fund Advisors LP
International Value Fund		Templeton Investment Counsel, Inc.
Large Cap Fund		UBS Global Asset Management (Americas) Inc.
Large Cap Value Fund		BlackRock Investment Management, LLC
Mid Cap Index Fund		MFC Global Investment Management (U.S.A.) Limited
Mid Cap Intersection Fund		Wellington Management Company, LLP

Lifestyle Portfolios – Fund details


Mid Cap Stock Fund		Wellington Management Company, LLP
Mid Cap Value Equity Fund		RiverSource Investments, LLC
Mid Cap Value Fund		Lord, Abbett & Co. LLC
Natural Resources Fund		Wellington Management Company, LLP
Optimized Value Fund		MFC Global Investment Management (U.S.A.) Limited
Real Estate Equity Fund		T. Rowe Price Associates, Inc.
Real Return Bond Fund		Pacific Investment Management Company LLC
Small Cap Fund		Independence Investments LLC
Small Cap Intrinsic Value Fund		MFC Global Investment Management (U.S.), LLC
Small Cap Opportunities Fund		Munder Capital Management
Small Company Growth Fund		AIM Capital Management, Inc.
Small Company Value Fund		T. Rowe Price Associates, Inc.
Spectrum Income Fund		T. Rowe Price Associates, Inc.
Strategic Bond Fund		Western Asset Management Company
Strategic Income Fund		MFC Global Investment Management (U.S.), LLC
Total Return Fund		Pacific Investment Management Company LLC
U.S. High Yield Bond Fund		Wells Capital Management, Incorporated
U.S. Multi-Sector Fund		Grantham, Mayo, Van Otterloo & Co. LLC
Value & Restructuring Fund		UST Advisers, Inc.
Vista Fund		American Century Investment Management, Inc.


Lifestyle Balanced Portfolio


Underlying fund:		Subadviser:


Active Bond Fund		Declaration Management & Research LLC and MFC Global Investment Management (U.S.), LLC
All Cap Core Fund		Deutsche Investment Management Americas Inc.
Blue Chip Growth Fund		T. Rowe Price Associates, Inc.
Capital Appreciation Fund		Jennison Associates LLC
Core Bond Fund		Wells Capital Management, Incorporated
Core Equity Fund		Legg Mason Capital Management, Inc.
Emerging Markets Value Fund		Dimensional Fund Advisors LP
Equity-Income Fund		T. Rowe Price Associates, Inc.
Floating Rate Income Fund		Western Asset Management Company
Fundamental Value Fund		Davis Selected Advisers, LP
Global Bond Fund		Pacific Investment Management Company LLC
Global Real Estate Fund		Deutsche Investment Management Americas Inc.
High Income Fund		MFC Global Investment Management (U.S.), LLC
High Yield Fund		Western Asset Management Company
Index 500 Fund		MFC Global Investment Management (U.S.A.) Limited
International Core Fund		Grantham, Mayo, Van Otterloo & Co. LLC
International Opportunities Fund		Marsico Capital Management, LLC
International Small Cap Fund		Templeton Investment Counsel, LLC
International Value Fund		Templeton Investment Counsel, Inc.
Large Cap Fund		UBS Global Asset Management (Americas) Inc.
Large Cap Value Fund		BlackRock Investment Management, LLC
Mid Cap Index Fund		MFC Global Investment Management (U.S.A.) Limited
Mid Cap Stock Fund		Wellington Management Company, LLP
Natural Resources Fund		Wellington Management Company, LLP
Optimized Value Fund		MFC Global Investment Management (U.S.A.) Limited
Real Estate Equity Fund		T. Rowe Price Associates, Inc.
Real Return Bond Fund		Pacific Investment Management Company LLC
Small Company Growth Fund		AIM Capital Management, Inc.
Small Company Value Fund		T. Rowe Price Associates, Inc.
Spectrum Income Fund		T. Rowe Price Associates, Inc.
Strategic Bond Fund		Western Asset Management Company
Strategic Income Fund		MFC Global Investment Management (U.S.), LLC
Total Return Fund		Pacific Investment Management Company LLC
U.S. High Yield Bond Fund		Wells Capital Management, Incorporated
U.S. Multi-Sector Fund		Grantham, Mayo, Van Otterloo & Co. LLC
Value & Restructuring Fund		UST Advisers, Inc.


Lifestyle Moderate Portfolio


Underlying fund:		Subadviser:


Active Bond Fund		Declaration Management & Research LLC and MFC Global Investment Management (U.S.), LLC
Blue Chip Growth Fund		T. Rowe Price Associates, Inc.
Core Bond Fund		Wells Capital Management, Incorporated
Core Equity Fund		Legg Mason Capital Management, Inc.
Equity-Income Fund		T. Rowe Price Associates, Inc.
Floating Rate Income Fund		Western Asset Management Company
Fundamental Value Fund		Davis Selected Advisers, LP

Lifestyle Portfolios – Fund details


Global Bond Fund		Pacific Investment Management Company LLC
Global Real Estate Fund		Deutsche Investment Management Americas Inc.
High Income Fund		MFC Global Investment Management (U.S.), LLC
High Yield Fund		Western Asset Management Company
International Core Fund		Grantham, Mayo, Van Otterloo & Co. LLC
International Equity Index Fund		SSgA Funds Management, Inc.
International Opportunities Fund		Marsico Capital Management, LLC
International Value Fund		Templeton Investment Counsel, Inc.
Investment Quality Bond Fund		Wellington Management Company, LLP
Mid Cap Index Fund		MFC Global Investment Management (U.S.A.) Limited
Real Estate Equity Fund		T. Rowe Price Associates, Inc.
Real Return Bond Fund		Pacific Investment Management Company LLC
Small Company Fund		American Century Investment Management, Inc.
Small Company Growth Fund		AIM Capital Management, Inc.
Small Company Value Fund		T. Rowe Price Associates, Inc.
Spectrum Income Fund		T. Rowe Price Associates, Inc.
Strategic Bond Fund		Western Asset Management Company
Strategic Income Fund		MFC Global Investment Management (U.S.), LLC
Total Return Fund		Pacific Investment Management Company LLC
U.S. High Yield Bond Fund		Wells Capital Management, Incorporated
U.S. Multi-Sector Fund		Grantham, Mayo, Van Otterloo & Co. LLC
Value & Restructuring Fund		UST Advisers, Inc.


Lifestyle Conservative Portfolio


Underlying fund:		Subadviser:


Active Bond Fund		Declaration Management & Research LLC and MFC Global Investment Management (U.S.), LLC
Blue Chip Growth Fund		T. Rowe Price Associates, Inc.
Core Bond Fund		Wells Capital Management, Incorporated
Equity-Income Fund		T. Rowe Price Associates, Inc.
Floating Rate Income Fund		Western Asset Management Company
Fundamental Value Fund		Davis Selected Advisers, LP
Global Bond Fund		Pacific Investment Management Company LLC
Global Real Estate Fund		Deutsche Investment Management Americas Inc.
High Income Fund		MFC Global Investment Management (U.S.), LLC
High Yield Fund		Western Asset Management Company
International Core Fund		Grantham, Mayo, Van Otterloo & Co. LLC
International Value Fund		Templeton Investment Counsel, Inc.
Investment Quality Bond Fund		Wellington Management Company, LLP
Real Estate Equity Fund		T. Rowe Price Associates, Inc.
Real Return Bond Fund		Pacific Investment Management Company LLC
Spectrum Income Fund		T. Rowe Price Associates, Inc.
Strategic Bond Fund		Western Asset Management Company
Strategic Income Fund		MFC Global Investment Management (U.S.), LLC
Total Return Fund		Pacific Investment Management Company LLC
U.S. High Yield Bond Fund		Wells Capital Management, Incorporated
U.S. Multi-Sector Fund		Grantham, Mayo, Van Otterloo & Co. LLC
U.S. Government Securities Fund		Western Asset Management Company
Value & Restructuring Fund		UST Advisers, Inc.

Lifestyle Portfolios – Fund details

Your account

Choosing a share class

Each share class has its own cost structure, including a Rule 12b-1 plan that allows it to pay fees for the sale, distribution and service of its shares. Your financial representative can help you decide which share class is best for you.

Class A


•	A front-end sales charge, as described in the section “How sales charges are calculated.”

•	Distribution and service (Rule 12b-1) fees of 0.30%.

Class B


•	No front-end sales charge; all your money goes to work for you right away.

•	Distribution and service (Rule 12b-1) fees of 1.00%.

•	A contingent deferred sales charge (CDSC), as described in the section “How sales charges are calculated.”

•	Automatic conversion to Class A shares after eight years, thus reducing future annual expenses.

Class C


•	No front-end sales charge; all your money goes to work for you right away.

•	Distribution and service (Rule 12b-1) fees of 1.00%.

•	A 1.00% CDSC on shares sold within one year of purchase.

•	No automatic conversion to Class A shares, so annual expenses continue at the Class C level throughout the life of your investment.

The maximum amount you may invest in Class B shares with any single purchase request is $99,999.99, and the maximum amount you may invest in Class C shares with any single purchase is $999,999.99. John Hancock Signature Services, Inc. (Signature Services), the transfer agent for the fund, may accept a purchase request for Class B shares for $100,000 or more or for Class C shares for $1,000,000 or more when the purchase is pursuant to the Reinstatement Privilege (see “Sales charge reductions and waivers”).

The retirement plan types listed below not currently invested in Class A, Class B and Class C shares of John Hancock funds are not eligible to purchase Class A, Class B and Class C shares. Such plans may invest only in Class R, Class R1, Class R2, Class R3, Class R4 and Class R5 shares, which are described in a separate prospectus. Such retirement plans (Retirement Plans) are: pension, profit-sharing and other plans qualified under Section 401(a) or described in Sections 403(b) or 457 of the Internal Revenue Code of 1986, as amended (the Code), and non-qualified deferred compensation plans. Retirement Plans do not include IRA accounts, retail non-retirement accounts, traditional and Roth IRAs, Coverdell Education Savings Accounts, SEPs, SAR-SEPs, SIMPLE IRAs, individual 403(b) accounts and other individual retirement accounts, and certain retirement plans participating in Merrill Lynch, The Princeton Retirement Group, Inc. or PruSolutions^SM programs.

12b-1 fees

Rule 12b-1 fees will be paid to the distributor, John Hancock Funds, LLC, and may be used by the distributor for expenses relating to the distribution of, and shareholder or administrative services for holders of, the shares of the class and for the payment of “service fees” that come within Rule 2830(d)(5) of the Conduct Rules of the Financial Industry Regulatory Authority (FINRA) (formerly the National Association of Security Dealers, Inc.).

Because Rule 12b-1 fees are paid out of fund assets on an ongoing basis, over time these fees will increase the cost of the investment and may cost shareholders more than paying other types of sales charges.

Other classes of shares of the funds, which have their own expense structure, may be offered in separate prospectuses.

Your broker-dealer or agent may charge you a fee to effect transactions in fund shares.

Additional payments to financial intermediaries

Shares of the funds are primarily sold through financial intermediaries (firms), such as brokers, banks, registered investment advisers, financial planners and retirement plan administrators. These firms may be compensated for selling shares of the fund in two principal ways:


•	directly, by the payment of sales commissions, if any; and

•	indirectly, as a result of the fund paying Rule 12b-1 fees.

Certain firms may request, and the distributor may agree to make, payments in addition to sales commissions and Rule 12b-1 fees out of the distributor’s own resources. These additional payments are sometimes referred to as “revenue sharing.” These payments assist in the distributor’s efforts to promote the sale of the fund’s shares. The distributor agrees with the firm on the methods for calculating any additional compensation, which may include the level of sales or assets attributable to the firm. Not all firms receive additional compensation and the amount of compensation varies. These payments could be significant to a firm. The distributor determines which firms to support and the extent of the payments it is willing to make. The distributor generally chooses to compensate firms that have a strong capability to distribute shares of the funds and that are willing to cooperate with the distributor’s promotional efforts.

The distributor hopes to benefit from revenue sharing by increasing the fund’s net assets, which, as well as benefiting the fund, would result in additional management and other fees for the Adviser and its affiliates. In consideration for revenue sharing, a firm may feature the fund in its sales system or give preferential access to members of its sales force or management. In addition, the firm may agree to participate in the distributor’s marketing efforts by allowing the distributor or its affiliates to participate in conferences, seminars or other programs attended by the intermediary’s sales force. Although an intermediary may seek revenue sharing payments to offset costs incurred by the firm in servicing its clients that have invested in the fund, the intermediary may earn a profit on these payments.

The SAI discusses the distributor’s revenue sharing arrangements in more detail. Your intermediary may charge you additional fees other than those disclosed in this prospectus.

You can ask your firm about any payments it receives from the distributor or the fund, as well as about fees and/or commissions it charges.

The distributor, adviser and their affiliates may have other relationships with your firm relating to the provisions of services to the funds, such as providing omnibus account services, transaction-processing services or effecting fund transactions for the funds. If your intermediary provides these services, the adviser or the funds may compensate the intermediary for these services. In addition, your intermediary may have other compensated relationships with the adviser or its affiliates that are not related to the funds.

Lifestyle Portfolios – Your account

Rollover Program Compensation

The broker-dealer of record for a pension, profit-sharing or other plan qualified under Section 401(a) or described in Section 457(b) of the Code, which is funded by certain group annuity contracts issued by John Hancock insurance companies, is eligible to receive ongoing compensation (Rollover Compensation) when a plan participant terminates from the qualified plan and rolls over assets into a John Hancock sponsored custodial IRA or John Hancock custodial IRA invested in shares of John Hancock funds. The Rollover Compensation is paid from a fund’s 12b-1 fees to the plan’s broker-dealer of record at an annual rate not expected to exceed 0.25% of the average daily net eligible assets held in John Hancock funds (0.15% for the John Hancock Money Market Fund) under the rollover program. Rollover Compensation is made in the first year and continues thereafter, quarterly in arrears. A John Hancock insurance company may also pay the third party administrator for the plan a one time nominal fee not expected to exceed $25 per each participant rollover into a John Hancock fund for facilitating the transaction.

Class A sales charges are as follows:


	As a % of	As a % of
Your investment	offering price*	your investment


Up to $49,999	5.00%	5.26%


$50,000 – $99,999	4.50%	4.71%


$100,000 – $249,999	3.50%	3.63%


$250,000 – $499,999	2.50%	2.56%


$500,000 – $999,999	2.00%	2.04%


$1,000,000 and over	See below


*		Offering price is the NAV per share plus any initial sales charge.

You may qualify for a reduced Class A sales charge if you own or are purchasing Class A, Class B, Class C, all Class R shares or Class I shares of any John Hancock fund. To receive the reduced sales charge, you must tell your broker or financial representative at the time you purchase the fund’s Class A shares about any other John Hancock fund held by you, your spouse or your children under the age of 21 living in the same household. This includes investments held in a retirement account, an employee benefit plan or with a broker or financial representative other than the one handling your current purchase. John Hancock will credit the combined value, at the current offering price, of all eligible accounts to determine whether you qualify for a reduced sales charge on your current purchase. You may need to provide documentation for these accounts, such as an account statement. For more information about these reduced sales charges, you may visit the funds’ Web site at www.jhfunds.com. You may also consult your broker or financial adviser, or refer to the section entitled “Initial sales charge on Class A shares” in the SAI. You may request an SAI from your broker or financial adviser, access the funds’ Web site at www.jhfunds.com, or call Signature Services at 1-800-225-5291.

Investments of $1 million or more

Class A shares are available with no front-end sales charge on investments of $1 million or more. There is a CDSC on any Class A shares upon which a commission or finder’s fee was paid that are sold within one year of purchase, as follows:

Class A deferred sales charges on investments of $1 million or more


		CDSC on shares
Your investment		being sold


First $1M – $4,999,999		1.00%


Next $1 – $5M		0.50%


Next $1 or more		0.25%

For purposes of this CDSC, all purchases made during a calendar month are counted as having been made on the first day of that month.

The CDSC is based on the lesser of the original purchase cost or the current market value of the shares being sold, and is not charged on shares you acquired by reinvesting your dividends. To keep your CDSC as low as possible, each time you place a request to sell shares we will first sell any shares in your account that are not subject to a CDSC.

Class B and C

Shares are offered at their NAV per share, without any initial sales charge.

A CDSC may be charged if a commission has been paid and you sell Class B or Class C shares within a certain time after you bought them, as described in the tables below. There is no CDSC on shares acquired through reinvestment of dividends.

The CDSC is based on the original purchase cost or the current market value of the shares being sold, whichever is less. The CDSC are as follows:

Class B deferred charges


		CDSC on shares
Years after purchase		being sold


1^st year		5.00%


2^nd year		4.00%


3^rd or 4^th year		3.00%


5^th year		2.00%


6^th year		1.00%


After 6^th year		None

Class C deferred charges


		CDSC on shares
Years after purchase		being sold


1^st year		1.00%


After 1^st year		None

For purposes of these CDSCs, all purchases made during a calendar month are counted as having been made on the first day of that month.

To keep your CDSC as low as possible, each time you place a request to sell shares we will first sell any shares in your account that carry no CDSC. If there are not enough of these shares to meet your request, we will sell those shares that have the lowest CDSC.

Lifestyle Portfolios – Your account

Sales charge reductions and waivers

Reducing your Class A sales charges

There are several ways you can combine multiple purchases of Class A shares of John Hancock funds to take advantage of the breakpoints in the sales charge schedule. The first three ways can be combined in any manner.


•	Accumulation Privilege — lets you add the value of any class of shares of any John Hancock fund you already own to the amount of your next Class A investment for purposes of calculating the sales charge. However, Class A shares of money market funds will not qualify unless you have already paid a sales charge on those shares.

•	Letter of Intention — lets you purchase Class A shares of a fund over a 13-month period and receive the same sales charge as if all shares had been purchased at once. You can use a Letter of Intention to qualify for reduced sales charges if you plan to invest at least $50,000 in a fund’s Class A shares during the next 13 months. The calculation of this amount would include accumulations and combinations as well as your current holdings of all classes of John Hancock funds, which includes any reinvestment of dividends and capital gains distributions. However, Class A shares of money market funds will be excluded unless you have already paid a sales charge. When you sign this letter, the fund agrees to charge you the reduced sales charges listed above. Completing a Letter of Intention does not obligate you to purchase additional shares. However, if you do not buy enough shares to qualify for the lower sales charges by the earlier of the end of the 13-month period or when you sell your shares, your sales charges will be recalculated to reflect your actual purchase level. Also available for individual retirement account investors is a 48-month Letter of Intention, described in the SAI.

•	Combination Privilege — lets you combine classes of shares of all John Hancock funds for purposes of calculating the Class A sales charge.

To utilize any reduction, you must complete the appropriate section of your application, or contact your financial representative or Signature Services. Consult the SAI for additional details (see the back cover of this prospectus).

Group investment program

A group may be treated as a single purchaser under the accumulation and combination privileges. Each investor has an individual account, but the group’s investments are lumped together for sales charge purposes, making the investors potentially eligible for reduced sales charges. There is no charge or obligation to invest (although initial investments per account opened must satisfy minimum initial investment requirements specified in the section entitled “Opening an account”), and individual investors may close their accounts at any time.

To utilize this program, you must contact your financial representative or Signature Services to find out how to qualify. Consult the SAI for additional details (see the back cover of this prospectus).

CDSC waivers

As long as Signature Services is notified at the time you sell, the CDSC for each share class will be waived in the following cases:


•	to make payments through certain systematic withdrawal plans

•	certain retirement plans participating in Merrill Lynch, The Princeton Retirement Group, Inc. or PruSolutions^sm programs

•	redemptions pursuant to a fund’s right to liquidate an account less than $1,000

•	to make certain distributions from a retirement plan

•	because of shareholder death or disability

To utilize a waiver, you must contact your financial representative or Signature Services. Consult the SAI for additional details (see the back cover of this prospectus).

Reinstatement privilege

If you sell shares of a John Hancock retail fund, you may reinvest some or all of the proceeds back into the same share class of the same fund and account from which it was removed, within 120 days without a sales charge, as long as Signature Services or your financial representative is notified before you reinvest. If you paid a CDSC when you sold your shares, you will be credited with the amount of the CDSC.

To utilize this privilege, you must contact your financial representative or Signature Services.

Waivers for certain investors

Class A shares may be offered without front-end sales charges or CDSCs to the following individuals and institutions:


•	selling brokers and their employees and sales representatives (and their Immediate Family, as defined in the SAI)

•	financial representatives utilizing fund shares in fee-based or wrap investment products under a signed fee-based or wrap agreement with the distributor

•	fund trustees and other individuals who are affiliated with these or other John Hancock funds (and their Immediate Family, as defined in the SAI)

•	individuals transferring assets held in a SIMPLE IRA, SEP or SAR-SEP invested in John Hancock funds directly to an IRA

•	individuals converting assets held in an IRA, SIMPLE IRA, SEP or SAR-SEP invested in John Hancock funds directly to a Roth IRA

•	individuals recharacterizing assets from an IRA, Roth IRA, SEP, SAR-SEP or SIMPLE IRA invested in John Hancock funds back to the original account type from which it was converted

•	participants in certain 529 plans that have a signed agreement with the Distributor (one-year CDSC may apply)

•	certain retirement plans participating in Merrill Lynch, The Princeton Retirement Group, Inc. or PruSolutions^sm programs

•	participants in certain retirement plans with at least 100 eligible employees (one-year CDSC applies) and that are currently invested in Class A shares of John Hancock funds

•	terminating participants rolling over assets held in a pension, profit-sharing or other plan qualified under Section 401(a) or described in Section 457(b) of the Code, which is funded by certain John Hancock group annuity contracts, directly to a John Hancock custodial IRA or John Hancock custodial IRA investing in John Hancock funds, including subsequent investments

To utilize a waiver, you must contact your financial representative or Signature Services. Consult the SAI for additional details (see the back cover of this prospectus).

Other waivers

Front-end sales charges and CDSCs are not imposed in connection with the following transactions:


•	exchanges from one John Hancock fund to the same class of any other John Hancock fund (see “Transaction policies” for additional details)

•	dividend reinvestments (see “Dividends and account policies” for additional details)

Lifestyle Portfolios – Your account

Opening an account


1	Read this prospectus carefully.

2	Determine how much you want to invest. The minimum initial investments for the Class A, B and C shares of the fund are as follows:


	•	non-retirement account: $1,000

	•	retirement account: $500; there is no minimum initial investment for certain group retirement plans investing using salary deduction or similar group methods of payment

	•	group investments: $250

	•	Monthly Automatic Accumulation Program (MAAP): $25 to open; you must invest at least $25 a month

	•	there is no minimum initial investment for fee-based or wrap accounts of selling firms that have executed a fee-based or wrap agreement with the distributor


3	All shareholders must complete the account application, carefully following the instructions. If you have any questions, contact your financial representative or call Signature Services at 1-800-225-5291.

4	Complete the appropriate parts of the account privileges application. By applying for privileges now, you can avoid the delay and inconvenience of having to file an additional application if you want to add privileges later.

5	Make your initial investment using the instructions under “Buying shares.” You and your financial representative can initiate any purchase, exchange or sale of shares.

Important information about opening a new account

To help the government fight the funding of terrorism and money laundering activities, the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act) requires all financial institutions to obtain, verify and record information that identifies each person or entity that opens an account.

For individual investors opening an account When you open an account, you will be asked for your name, residential address, date of birth and Social Security number.

For investors other than individuals When you open an account, you will be asked for the name of the entity, its principal place of business and taxpayer identification number (TIN) and may be requested to provide information on persons with authority or control over the account such as name, residential address, date of birth and Social Security number. You may also be asked to provide documents, such as articles of incorporation, trust instruments or partnership agreements and other information that will help Signature Services identify the entity. See the Mutual Fund Account Application for more details.

Lifestyle Portfolios – Your account

Buying shares


Opening an account		Adding to an account

By check
• Make out a check for the investment amount, payable to “John Hancock Signature Services, Inc.” • Deliver the check and your completed application to your financial representative or mail them to Signature Services (address below).		• Make out a check for the investment amount, payable to “John Hancock Signature Services, Inc.” • If your account statement has a detachable investment slip, please complete it in its entirety. If no slip is available, include a note specifying the name(s), the share class, your account number and the name(s) in which the account is registered. • Deliver the check and your investment slip or note to your financial representative or mail them to Signature Services (address below).




By exchange
• Call your financial representative or Signature Services to request an exchange.		• Log on to the Web site below to process exchanges between funds. • Call EASI-Line for automated service. • Call your financial representative or Signature Services to request an exchange.




By wire
• Deliver your completed application to your financial representative or mail it to Signature Services. • Obtain your account number by calling your financial representative or Signature Services. • Obtain wiring instructions by calling Signature Services. • Instruct your bank to wire the amount of your investment. Specify the fund name(s), the share class, your account number and the name(s) in which the account is registered. Your bank may charge a fee to wire funds.		• Obtain wiring instructions by calling Signature Services. • Instruct your bank to wire the amount of your investment. Specify the fund name(s), the share class, your account number and the name(s) in which the account is registered. Your bank may charge a fee to wire funds.




By Internet
See “By exchange” and “By wire.”		• Verify that your bank or credit union is a member of the Automated Clearing House (ACH) system. • Complete the “Bank Information” section on your account application. • Log on to Web site below to initiate purchases using your authorized bank account.




By phone
See “By exchange” and “By wire.”		• Verify that your bank or credit union is a member of the ACH system. • Complete the “To Purchase, Exchange or Redeem Shares via Telephone” and “Bank Information” sections on your account application. • Call EASI-Line for automated service. • Call Signature Services between 8:00 a.m. and 7:00 p.m., Eastern Time on most business days. To open or add to an account using the Monthly Automatic Accumulation Program, see “Additional investor services.”



Regular mail	Express delivery	Web site	EASI-Line	Signature Services
Mutual Fund Operations John Hancock Signature Services, Inc. P.O. Box 9510 Portsmouth, NH 03802-9510	Mutual Fund Operations John Hancock Signature Services, Inc. 164 Corporate Drive Portsmouth, NH 03801	www.jhfunds.com	(24/7 automated service) 1-800-338-8080	1-800-225-5291

Lifestyle Portfolios – Your account

Selling shares


		To sell some or all of your shares

By letter
• Accounts of any type. • Sales of any amount.		• Write a letter of instruction or complete a stock power indicating the fund name, the share class, your account number, the fund’s name(s) in which the account is registered and the dollar value or number of shares you wish to sell. • Include all signatures and any additional documents that may be required (see next page). • Mail the materials to Signature Services. • A check will be mailed to the name(s) and address in which the account is registered, or otherwise according to your letter of instruction.




By Internet
• Most accounts. • Sales of up to $100,000.		• Log on to the Web site below to initiate redemptions from your fund.




By phone
• Most accounts. • Sales of up to $100,000.		• Call EASI-Line for automated service. • Call our financial representative or call Signature Services between 8:00 a.m. and 7:00 p.m., Eastern Time on most business days.




By wire or electronic funds transfer (EFT)
• Requests by letter to sell any amount. • Requests by Internet or phone to sell up to $100,000.		• To verify that the Internet or telephone redemption privilege is in place on an account, or to request the form to add it to an existing account, call Signature Services. • Funds requested by wire will be wired the next business day. A $4 fee will be deducted from your account. Your bank may also charge you a fee for this service. • Funds requested by EFT are generally available by the second business day. Your bank may charge you a fee for this service.




By exchange
• Accounts of any type. • Sales of any amount.		• Obtain a current prospectus for the fund into which you are exchanging by Internet or by calling your financial representative or Signature Services. • Log on to the Web site below to process exchanges between your funds. • Call EASI-Line for automated service. • Call your financial representative or Signature Services to request an exchange.

To sell shares through a systematic withdrawal plan, see “Additional investor services.”



Regular mail	Express delivery	Web site	EASI-Line	Signature Services
Mutual Fund Operations John Hancock Signature Services, Inc. P.O. Box 9510 Portsmouth, NH 03802-9510	Mutual Fund Operations John Hancock Signature Services, Inc. 164 Corporate Drive Portsmouth, NH 03801	www.jhfunds.com	(24/7 automated service) 1-800-338-8080	1-800-225-5291

Lifestyle Portfolios – Your account

Selling shares in writing

In certain circumstances, you will need to make your request to sell shares in writing. You may need to include additional items with your request, unless they were previously provided to Signature Services and are still accurate. These items are shown in the table below. You may also need to include a signature guarantee, which protects you against fraudulent orders. You will need a signature guarantee if:


•	your address of record has changed within the past 30 days;

•	you are selling more than $100,000 worth of shares — This requirement is waived for certain entities operating under a signed fax trading agreement with John Hancock; or

•	you are requesting payment other than by a check mailed to the address of record and payable to the registered owner(s).

You will need to obtain your signature guarantee from a member of the Signature Guarantee Medallion Program. Most broker-dealers, banks, credit unions (if authorized under state law) and securities exchanges are members of this program. A notary public CANNOT provide a signature guarantee.


Seller		Requirements for written requests

Owners of individual, joint or UGMA/UTMA accounts (custodial accounts for minors)		• Letter of instruction. • On the letter, the signatures of all persons authorized to sign for the account, exactly as the account is registered. • Medallion signature guarantee, if applicable (see above).




Owners of corporate, sole proprietorship, general partner or association accounts		• Letter of instruction. • Corporate business/organization resolution, certified within the past 12 months, or a John Hancock funds business/organization certification form. • On the letter and the resolution, the signature of the person(s) authorized to sign for the account. • Medallion signature guarantee, if applicable (see above).




Owners or trustees of trust accounts		• Letter of instruction. • On the letter, the signature(s) of the trustee(s). • Copy of the trust document, certified within the past 12 months, or a John Hancock funds trust certification form. • Medallion signature guarantee, if applicable (see above).




Joint tenancy shareholders with rights of survivorship with a deceased co-tenant(s)		• Letter of instruction signed by surviving tenant. • Copy of death certificate. • Medallion signature guarantee, if applicable (see above). • Inheritance tax waiver, if applicable.




Executors of shareholder estates		• Letter of instruction signed by executor. • Copy of order appointing executor, certified within the past 12 months. • Medallion signature guarantee, if applicable (see above). • Inheritance tax waiver, if applicable.




Administrators, conservators, guardians and other sellers or account types not listed above		• Call the Signature Services telephone number below for instructions.



Regular mail	Express delivery	Web site	EASI-Line	Signature services
Mutual Fund Operations John Hancock Signature Services, Inc. P.O. Box 9510 Portsmouth, NH 03802-9510	Mutual Fund Operations John Hancock Signature Services, Inc. 164 Corporate Drive Portsmouth, NH 03801	www.jhfunds.com	(24/7 automated service) 1-800-338-8080	1-800-225-5291

Lifestyle Portfolios – Your account

Valuation of shares

The NAV per share for each class of the fund and share class is determined each business day at the close of regular trading on the New York Stock Exchange (typically 4:00 p.m., Eastern Time). The NAV for the fund is calculated based upon the NAVs of the underlying funds and other investments in which it invests. The prospectus for the underlying funds explains the circumstances under which those underlying funds use fair-value pricing and the effects of doing so.

Buy and sell prices

When you buy shares, you pay the NAV plus any applicable sales charges, as described earlier. When you sell shares, you receive the NAV minus any applicable deferred sales charges.

Execution of requests

At times of peak activity, it may be difficult to place requests by telephone. During these times, consider using EASI-Line, accessing www.jhfunds.com or sending your request in writing.

In unusual circumstances, the fund may temporarily suspend the processing of sell requests or may postpone payment of proceeds for up to three business days or longer, as allowed by federal securities laws.

Telephone transactions

For your protection, telephone requests may be recorded in order to verify their accuracy. Also for your protection, telephone redemption transactions are not permitted on accounts whose names or residential addresses have changed within the past 30 days. Proceeds from telephone transactions can only be mailed to the residential address of record.

Exchanges

You may exchange shares of a class of the fund for shares of the same class of any other John Hancock fund that is then offering that class, generally without paying any additional sales charges.

Class B and Class C shares will continue to age from the original date and will retain the same CDSC rate. A CDSC rate that has increased will drop again with a future exchange into a fund with a lower rate. For further details, see “Additional services and programs” in the SAI (see the back cover of this prospectus).

Excessive trading

The fund is intended for long-term investment purposes only and does not knowingly accept shareholders who engage in “market timing” or other types of excessive short-term trading. Short-term trading into and out of a fund can disrupt fund investment strategies and may increase expenses for all shareholders, including long-term shareholders who do not generate these costs.

Right to reject or restrict purchase and exchange orders

Purchases and exchanges should be made primarily for investment purposes. The funds reserve the right to restrict, reject or cancel (with respect to cancellations, within one day of the order), for any reason and without any prior notice, any purchase or exchange order, including transactions representing excessive trading and transactions accepted by any shareholder’s financial intermediary. For example, the fund may in its discretion restrict, reject or cancel a purchase or exchange order even if the transaction is not subject to the specific “Limitation on exchange activity” described below if the fund or its agents determine that accepting the order could interfere with the efficient management of the fund’s underlying funds or otherwise not be in its best interest in light of unusual trading activity related to your account. In the event that the fund rejects or cancels an exchange request, neither the redemption nor the purchase side of the exchange will be processed. If you would like the redemption request to be processed even if the purchase order is rejected, you should submit separate redemption and purchase orders rather than placing an exchange order. The fund reserves the right to delay for up to one business day, consistent with applicable law, the processing of exchange requests in the event that, in the fund’s judgment, such delay would be in the fund’s best interest, in which case both the redemption and purchase side of the exchange will receive the fund’s NAV at the conclusion of the delay period. The fund, through its agents in their sole discretion, may impose these remedial actions at the account holder level or the underlying shareholder level.

Exchange limitation policies

The Board of Trustees has adopted the following policies and procedures by which the fund, subject to the limitations described below, takes steps reasonably designed to curtail excessive trading practices.

Limitation on exchange activity

Pursuant to the policies and procedures adopted by the Board of Trustees the fund, or its agent, may reject or cancel a purchase order, suspend or terminate the exchange privilege or terminate the ability of an investor to invest in John Hancock funds if the fund, or its agent, determines that a proposed transaction involves market timing or disruptive trading that it believes is likely to be detrimental to the fund. The fund, or its agent, cannot ensure that it will be able to identify all cases of market timing or disruptive trading, although it attempts to have adequate procedures in place to do so. The fund, or its agent, may also reject or cancel any purchase order (including an exchange) from an investor or group of investors for any other reason. Decisions to reject or cancel purchase orders (including exchanges) in the fund are inherently subjective and will be made in a manner believed to be in the best interest of the fund’s shareholders. The fund does not have any arrangement to permit market timing or disruptive trading.

Exchanges made on the same day in the same account are aggregated for purposes of counting the number and dollar amount of exchanges made by the account holder. The exchange limits referenced above will not be imposed, or may be modified, under certain circumstances. For example, these exchange limits may be modified for accounts held by certain retirement plans to conform to plan exchange limits, ERISA considerations or Department of Labor regulations. Certain automated or pre-established exchange, asset-allocation and dollar-cost-averaging programs are not subject to these exchange limits. These programs are excluded from the exchange limitation since management believes that they are advantageous to shareholders and do not offer an effective means for market timing or excessive trading strategies. These investment tools involve regular and predetermined purchase or redemption requests made well in advance of any knowledge of events affecting the market on the date of the purchase or redemption.

These exchange limits are subject to the fund’s ability to monitor exchange activity, as discussed under “Limitation on the ability to detect and curtail excessive trading practices” below. Depending upon the composition of the fund shareholder accounts and in light of the limitations on the ability of the fund to detect and curtail excessive trading practices, a significant percentage of the fund’s shareholders may not be subject to the exchange limitation policy described above.

Lifestyle Portfolios – Your account

In applying the exchange limitation policy, the fund considers information available to it at the time and reserves the right to consider trading activity in a single account or multiple accounts under common ownership, control or influence.

Limitation on the ability to detect and curtail excessive trading practices

Shareholders seeking to engage in excessive trading practices sometimes deploy a variety of strategies to avoid detection, and, despite the efforts of the fund to prevent its excessive trading, there is no guarantee that the fund or its agents will be able to identify such shareholders or curtail its trading practices. The ability of the fund and its agents to detect and curtail excessive trading practices may also be limited by operational systems and technological limitations. Because the fund will not always be able to detect frequent trading activity, investors should not assume that the fund will be able to detect or prevent all frequent trading or other practices that disadvantage the fund. For example, the ability of the fund to monitor trades that are placed by omnibus or other nominee accounts is limited in those instances in which the financial intermediary, including a financial adviser, broker, retirement plan administrator or fee-based program sponsor, maintains the records of the fund’s underlying beneficial owners. Omnibus or other nominee account arrangements are common forms of holding shares of the fund, particularly among certain financial intermediaries such as financial advisers, brokers, retirement plan administrators or fee-based program sponsors. These arrangements often permit the financial intermediary to aggregate its clients’ transactions and ownership positions and do not identify the particular underlying shareholder(s) to the fund. However, the fund will work with financial intermediaries as necessary to discourage shareholders from engaging in abusive trading practices and to impose restrictions on excessive trades. In this regard, the fund has entered into information sharing agreements with financial intermediaries pursuant to which these intermediaries are required to provide to the fund, at the fund’s request, certain information relating to their customers investing in the fund through omnibus or other nominee accounts. The fund will use this information to attempt to identify excessive trading practices. Financial intermediaries are contractually required to follow any instructions from the fund to restrict or prohibit future purchases from shareholders that are found to have engaged in excessive trading in violation of the fund’s policies. The fund cannot guarantee the accuracy of the information provided to it from financial intermediaries and so cannot ensure that it will be able to detect abusive trading practices that occur through omnibus or other nominee accounts. As a consequence, the fund’s ability to monitor and discourage excessive trading practices in these types of accounts may be limited.

Excessive trading risk

To the extent that the fund or its agents are unable to curtail excessive trading practices in the fund, these practices may interfere with the efficient management of the fund, and may result in the fund engaging in certain activities to a greater extent than it otherwise would, such as maintaining higher cash balances, using its line of credit and engaging in fund transactions. Increased fund transactions and use of the line of credit would correspondingly increase the fund’s operating costs and decrease the fund’s investment performance. Maintenance of higher levels of cash balances would likewise result in lower fund investment performance during periods of rising markets.

While excessive trading can potentially occur in any fund, certain types of funds are more likely than others to be targets of excessive trading. For example:


•	A fund that invests a significant portion of its assets in small- or mid-capitalization stocks or securities in particular industries that may trade infrequently or are fair valued as discussed under “Valuation of shares.” These types of securities entail a greater risk of excessive trading, as investors may seek to trade fund shares in an effort to benefit from their understanding of the value of those types of securities (referred to as price arbitrage).

•	A fund that invests a material portion of its assets in securities of non-U.S. issuers may be a potential target for excessive trading if investors seek to engage in price arbitrage based upon general trends in the securities markets that occur subsequent to the close of the primary market for such securities.

•	A fund that invests a significant portion of its assets in below investment-grade (junk) bonds, that may trade infrequently or are fair valued as discussed under “Valuation of shares.” These types of securities entail a greater risk of excessive trading, as investors may seek to trade fund shares in an effort to benefit from their understanding of the value of those types of securities.

Any frequent trading strategies may interfere with efficient management of the fund. A fund that invests in the types of securities discussed above may be exposed to this risk to a greater degree than a fund that invests in highly liquid securities. These risks would be less significant, for example, in a fund that primarily invests in U.S. government securities, money market instruments, investment-grade corporate issuers or large-capitalization U.S. equity securities. Any successful price arbitrage may cause dilution in the value of fund shares held by other shareholders.

Account information

The funds are required by law to obtain information for verifying an account holder’s identity. For example, an individual will be required to supply his or her name, residential address, date of birth and Social Security number. If you do not provide the required information, we may not be able to open your account. If verification is unsuccessful, the fund may close your account, redeem your shares at the next NAV minus any applicable sales charges and take any other steps that it deems reasonable.

Certificated shares

The funds does not issue share certificates. Shares are electronically recorded.

Sales in advance of purchase payments

When you place a request to sell shares of a fund for which the purchase money has not yet been collected, the request will be executed in a timely fashion, but the fund will not release the proceeds to you until your purchase payment clears. This may take up to ten business days after the purchase.

Additional investor services

Account statements

In general, you will receive account statements as follows


•	after every transaction (except a dividend reinvestment, automatic investment or systematic withdrawal) that affects your account balance

•	after any changes of name or residential address of the registered owner(s)

•	in all other circumstances, at least quarterly

Every year you should also receive, if applicable, a Form 1099 tax information statement, mailed by January 31.

Lifestyle Portfolios – Your account

Dividends

The fund generally declares and pays income dividends annually. Capital gains, if any, are distributed annually, typically after the end of the fund’s fiscal year.

Dividend reinvestments

Most investors have their dividends reinvested in additional shares of the same class of the fund. If you choose this option, or if you do not indicate any choice, your dividends will be reinvested on the dividend record date.

Alternatively, you may choose to have your dividends and capital gains sent directly to your bank account or a check may be mailed if your combined dividend and capital gains amount is $10 or more. However, if the check is not deliverable or the combined dividend and capital gains amount is less than $10, your proceeds will be reinvested. If five or more of your dividend or capital gains checks remain uncashed after 180 days, all subsequent dividends and capital gains will be reinvested. No front-end sales charge or CDSC will be imposed on shares derived from reinvestment of dividends or capital gains distributions.

Taxability of dividends

For investors who are not exempt from federal income taxes, dividends you receive from the fund, whether reinvested or taken as cash, are generally considered taxable. Dividends from the fund’s short-term capital gains are taxable as ordinary income. Dividends from the fund’s long-term capital gains are taxable at a lower rate. Whether gains are short-term or long-term depends on the fund’s holding period. Some dividends paid in January may be taxable as if they had been paid the previous December.

The Form 1099 tax information statement that is mailed to you every January, if applicable, details your dividends and their federal tax category, although you should verify your tax liability with your tax professional.

Small accounts (non-retirement only)

If you draw down a non-retirement account so that its total value is less than $1,000, you may be asked to purchase more shares within 30 days. If you do not take action, the fund may close out your account and mail you the proceeds. Alternatively, the fund may charge you $20 a year to maintain your account. You will not be charged a CDSC if your account is closed for this reason.

Monthly Automatic Accumulation Program (MAAP)

MAAP lets you set up regular investments from your paycheck or bank account to the funds. You determine the frequency and amount of your investments, and you can terminate your program at any time. To establish:


•	Complete the appropriate parts of your account application.

•	If you are using MAAP to open an account, make out a check for your first investment amount payable to “John Hancock Signature Services, Inc.” in an amount satisfying the applicable minimum initial investment requirements specified in the section “Opening an account.” Deliver your check and application to your financial representative or Signature Services.

Systematic withdrawal plan

This plan may be used for routine bill payments or periodic withdrawals from your account. To establish:


•	Make sure you have at least $5,000 worth of shares in your account.

•	Make sure you are not planning to invest more money in this account (buying shares during a period when you are also selling shares of the same fund is not advantageous to you, because of sales charges).

•	Specify the payee(s). The payee may be yourself or any other party, and there is no limit to the number of payees you may have, as long as they are all on the same payment schedule.

•	Determine the schedule: monthly, quarterly, semi-annually, annually or in certain selected months.

•	Fill out the relevant part of the account application. To add a systematic withdrawal plan to an existing account, contact your financial representative or Signature Services.

Retirement plans

The Distributor offers a range of retirement plans, including traditional and Roth IRAs, Coverdell ESAs, SIMPLE plans and SEPs. Using these plans, you can invest in any John Hancock fund (except tax-free income funds) with a low minimum investment of $500 or, for some group plans, no minimum investment at all. To find out more, call Signature Services at 1-800-225-5291.

John Hancock funds do not accept requests to establish new John Hancock custodial 403(b)(7) accounts; do not accept requests for exchanges or transfers into your existing John Hancock custodial 403(b)(7) accounts; and require additional disclosure documentation if you direct John Hancock funds to exchange or transfer some or all of your John Hancock custodial 403(b)(7) account assets to another 403(b)(7) contract or account. Please refer to the SAI for more information regarding these restrictions.

Disclosure of fund holdings

The fund’s policy regarding disclosure of fund holdings can be found in the SAI and the fund holdings information can be found at www.jhfunds.com.

The holdings of the fund will be posted to the Web site listed above within 30 days after each calendar month end and within 30 days after any material changes are made to the holdings of the fund. The holdings of each fund are also disclosed quarterly to the SEC on Form N-Q as of the end of the first and third quarters of the fund’s fiscal year and on Form N-CSR as of the second and fourth quarters of the fund’s fiscal year. The fund’s Form N-CSR and Form N-Q will contain the fund’s holdings as of the applicable fiscal quarter end.

Lifestyle Portfolios – Your account

Appendix

Historical Performance of Corresponding John Hancock Trust Portfolios

The Lifestyle Portfolios (each referred to as a fund) of John Hancock Funds II (JHF II) commenced operations in October 2005. Each of the funds is modeled after a fund of John Hancock Trust (JHT), another mutual fund that is used primarily as the underlying investment medium for certain variable annuity and variable life insurance separate accounts of John Hancock insurance companies. Each fund has the same investment adviser, subadviser and portfolio manager and substantially the same investment objective, policies and restrictions as its corresponding JHT portfolio. Moreover, each fund commenced operations after certain of these separate accounts redeemed all their interests in the corresponding JHT portfolio and invested all the redemption proceeds in the fund, which in turn invested all the proceeds in underlying funds of JHF II, which used the proceeds to acquire assets from corresponding underlying JHT portfolios of the corresponding JHT portfolio. These assets allowed each fund to commence operations with an investment portfolio that was substantially the same (except as to amount of assets) as the investment portfolio of its corresponding JHT portfolio.

This Appendix presents historical performance information for the corresponding JHT portfolios. Because of the similarities between each fund and its corresponding JHT portfolio as described above, this information may help provide an indication of the fund’s risks. The performance of the JHT portfolio, however, does not represent, and is not a substitute for, the performance of any fund, and you should not assume that a fund will have the same future performance as the JHT portfolio. The future performance of a fund may be greater or less than the performance of its corresponding JHT portfolio due to, among other things, differences in expenses (including sales charges, if any), asset size and cash flows. Performance information — a bar chart and a table — is presented on the following pages for the Series I shares of each JHT portfolio, which corresponds to a fund. The Series I shares of each JHT portfolio commenced operations on January 7, 1997. The bar chart shows how each JHT portfolio’s total return has varied from year to year, while the tables show performance of its Series I shares over time (along with a broad-based market index for reference). All figures assume dividend reinvestment.

The Class A, B and C shares of the funds have front-end or deferred sales charges. The Series I shares of the corresponding JHT portfolios do not have such charges. The other expenses of the Class A, B and C shares of the funds, including their Rule 12b-1 fees, are higher than the expenses, including the Rule 12b-1 fees, of the Series I shares of the corresponding JHT portfolios. The performance shown in the bar charts and tables for the Series I shares of the JHT portfolios would be lower if adjusted to reflect the sales charges and higher expenses of the Class A, B and C shares of the funds. The performance shown in the bar charts and tables would also be lower if the adviser to the JHT portfolios had not reimbursed certain expenses of those funds during the periods shown. Year-by-year index figures do not reflect any sales charges or fund expenses and would be lower if they did. The JHT portfolios serve as the underlying investment vehicle for variable insurance products. The performance presented does not reflect the fees and expenses of any variable insurance products. As indicated above, past performance does not indicate future results.

Lifestyle Portfolios – Appendix

JHT Portfolio

Lifestyle Aggressive Trust

(formerly Lifestyle Aggressive 1000 Trust)

Portfolio Corresponding to: Lifestyle Aggressive

Net assets of JHT Portfolio as of March 31, 2008: $514,809,181

JHT Series I calendar year total returns

Best quarter: Q2 ’03, 18.07% Worst quarter: Q3 ’02, –18.84%

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

4.79

14.55

–5.12

–13.83

–20.71

34.91

16.06

10.64

15.46

8.55

[BAR CHART]


									Since
JHT Series I average annual total returns (%)	1 year		3 years		5 years		10 years		inception

for periods ended 3-31-08

Series I		–5.21		7.87		15.49		3.24		4.73

Standard & Poor’s 500 Index		–5.08		5.85		11.32		3.50		6.86

JHT portfolios were subject to an expense reimbursement during the periods shown. The performance shown in the bar chart and table would be lower if the adviser to the JHT portfolio had not reimbursed certain expenses of the portfolio during the periods shown.

Standard & Poor’s 500 Index — an unmanaged index comprised of 500 stocks chosen for market size, liquidity and industry group that is designed to reflect the risk/return characteristics of the universe of large cap stocks.

Indexes have no sales charges and cannot be invested in directly. All figures assume dividend reinvestment.

MORNINGSTAR RATING^tm

« « « «

Overall rating for JHT Series I among 1,664 large blend funds as of March 31, 2008.

Morningstar ratings measure risk-adjusted returns.

The Overall Morningstar Rating^tm for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics. The JHT portfolio (Series I) was rated 4 stars out of 1,664, 5 stars out of 1,314 and 3 stars out of 621 large blend funds for the 3-, 5- and 10-year periods ended March 31, 2008, respectively, in the U.S. open-end fund universe.

For each fund with at least a 3-year history, Morningstar calculates a Morningstar Rating^tm based on a Morningstar Risk-Adjusted Return that accounts for variation in a fund’s monthly performance (including effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category, the next 22.5%, 35%, 22.5% and the bottom 10% receive 5, 4, 3, 2 or 1 star(s), respectively. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Past performance is no guarantee of future results.

The Class A, B and C shares of the Lifestyle Portfolios currently do not have Morningstar ratings. Any future ratings assigned to Class A, B and C shares of a Lifestyle Portfolio may be different from the Morningstar Rating^tm for the Series I shares of the corresponding JHT portfolio because such ratings will reflect, among other things, the different expenses of the Class A, B and C shares of the Lifestyle Portfolio.

Lifestyle Portfolios – Appendix

JHT Portfolio

Lifestyle Growth Trust

(formerly Lifestyle Growth 820 Trust)

Corresponding to: Lifestyle Growth Portfolio

Net assets of JHT Portfolio as of March 31, 2008: $13,179,264,140

JHT Series I calendar year total returns

Best quarter: Q2 ’03, 14.90% Worst quarter: Q3 ’02, –14.50%

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

6.14

16.50

–3.18

–9.16

–15.84

29.55

14.59

8.66

13.50

7.44

[BAR CHART]


									Since
JHT Series I average annual total returns (%)	1 year		3 years		5 years		10 years		inception

for periods ended 3-31-08

Series I		–3.44		7.28		13.30		4.27		5.81

Standard & Poor’s 500 Index		–5.08		5.85		11.32		3.50		6.86

Lehman Brothers U.S. Aggregate Index		7.67		5.48		4.58		6.04		6.41

Combined Index		–2.52		5.85		10.03		4.22		7.11

Lehman Brothers U.S. Aggregate Index — an unmanaged index comprised of the Lehman Brothers Government/Corporate Bond Index, the Lehman Brothers Mortgage-Backed Securities Index and the Lehman Brothers Asset-Backed Securities Index that measures the performance of investment-grade securities having a maturity of at least one year and which have more than $100 million of securities outstanding.

Combined Index — consists of 80% of the S&P 500 Index and 20% of the Lehman Brothers U.S. Aggregate Index.

Indexes have no sales charges and cannot be invested in directly. All figures assume dividend reinvestment.

MORNINGSTAR RATING^tm

« « « «

Overall rating for JHT Series I among 1,664 large blend funds as of
March 31, 2008.

Morningstar ratings measure risk-adjusted returns.

The Overall Morningstar Rating^tm for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics. The JHT portfolio (Series I) was rated 4 stars out of 1,664, 4 stars out of 1,314 and 4 stars out of 621 large blend funds for the 3-, 5- and 10-year periods ended March 31, 2008, respectively, in the U.S. open-end fund universe.

Lifestyle Portfolios – Appendix

JHT Portfolio

Lifestyle Balanced Trust

(formerly Lifestyle Balanced 640 Trust)

Corresponding to: Lifestyle Balanced Portfolio

Net assets of JHT Portfolio as of March 31, 2008: $10,094,057,956

JHT Series I calendar year total returns

Best quarter: Q2 ’03, 11.64% Worst quarter: Q3 ’98, -10.36%

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

5.67

12.36

2.34

–4.85

–9.95

23.97

13.49

6.88

12.73

6.47

[BAR CHART]


JHT Series I average annual									Since
total returns (%)	1 year		3 years		5 years		10 years		inception

for periods ended 3-31-08

Series I		–1.93		6.98		11.43		5.12		6.44

Standard & Poor’s 500 Index		–5.08		5.85		11.32		3.50		6.86

Lehman Brothers U.S. Aggregate Index		7.67		5.48		4.58		6.04		6.41

Combined Index		0.03		5.82		8.72		4.83		7.09

Combined Index — consists of 60% of the S&P 500 Index and 40% of the Lehman Brothers U.S. Aggregate Index.

Indexes have no sales charges and cannot be invested in directly. All figures assume dividend reinvestment.

MORNINGSTAR RATING^tm

« « « «

Overall rating for JHT Series I among 905 moderate allocation funds as of March 31, 2008.

Morningstar ratings measure risk-adjusted returns.

The Overall Morningstar Rating^tm for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics. The JHT portfolio (Series I) was rated 4 stars out of 905, 4 stars out of 712 and 3 stars out of 416 moderate allocation funds for the 3-, 5- and 10-year periods ended March 31, 2008, respectively, in the U.S. open-end fund universe.

Lifestyle Portfolios – Appendix

JHT Portfolio

Lifestyle Moderate Trust

(formerly Lifestyle Moderate 460 Trust)

Corresponding to: Lifestyle Moderate Portfolio

Net assets of JHT Portfolio as of March 31, 2008: $2,453,223,600

JHT Series I calendar year total returns

Best quarter: Q2 ’03, 8.71% Worst quarter: Q3 ’02, –5.57%

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

9.75

7.84

3.92

–1.09

–4.07

17.83

11.04

4.15

10.42

5.29

[BAR CHART]


									Since
JHT Series I average annual total returns (%)	1 year		3 years		5 years		10 years		inception

for periods ended 3-31-08

Series I		–0.38		5.80		8.86		5.31		6.48

Standard & Poor’s 500 Index		–5.08		5.85		11.32		3.50		6.86

Lehman Brothers U.S. Aggregate Index		7.67		5.48		4.58		6.04		6.41

Combined Index		2.59		5.75		7.37		5.34		6.96

Combined Index — consists of 40% of the S&P 500 Index and 60% of the Lehman Brothers U.S. Aggregate Index.

Indexes have no sales charges and cannot be invested in directly. All figures assume dividend reinvestment.

MORNINGSTAR RATING^tm

« « « «

Overall rating for JHT Series I among 905 moderate allocation funds as of March 31, 2008.

Morningstar ratings measure risk-adjusted returns.

The Overall Morningstar Rating^tm for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics. The JHT portfolio (Series I) was rated 3 stars out of 905, 3 stars out of 712 and 4 stars out of 416 moderate allocation funds for the 3-, 5- and 10-year periods ended March 31, 2008, respectively, in the U.S. open-end fund universe.

Lifestyle Portfolios – Appendix

JHT Portfolio

Lifestyle Conservative Trust

(formerly Lifestyle Conservative 280 Trust)

Portfolio Corresponding to: Lifestyle Conservative

Net assets of JHT Portfolio as of March 31, 2008: $1,257,031,038


JHT Series I calendar year total returns

Best quarter: Q4 ’02, 6.12% Worst quarter: Q2 ’04, -2.08%



1998	1999	2000	2001	2002	2003	2004	2005	2006	2007
10.20	4.18	7.54	3.28	1.80	11.47	8.59	2.88	8.44	5.38

[BAR CHART]


									Since
JHT Series I average annual total returns (%)	1 year		3 years		5 years		10 years		inception

for periods ended 3-31-08

Series I		2.58		5.67		6.97		5.82		6.62

Standard & Poor’s 500 Index		–5.08		5.85		11.32		3.50		6.86

Lehman Brothers U.S. Aggregate Index		7.67		5.48		4.58		6.04		6.41

Combined Index		5.13		5.63		5.99		5.74		6.72

Standard & Poor’s 500 Index— an unmanaged index comprised of 500 stocks chosen for market size, liquidity and industry group that is designed to reflect the risk/return characteristics of the universe of large-cap stocks.

Combined Index— consists of 20% of the S&P 500 Index and 80% of the Lehman Brothers U.S. Aggregate Index.

Indexes have no sales charges and cannot be invested in directly. All figures assume dividend reinvestment.

MORNINGSTAR RATING^tm

« « « «

Overall rating for JHT Series I among 407 conservative allocation funds as of March 31, 2008.

Morningstar ratings measure risk-adjusted returns.

The Overall Morningstar Rating^tm for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics. The JHT portfolio (Series I) was rated 4 stars out of 407, 3 stars out of 265 and 4 stars out of 126 conservative allocation funds for the 3-, 5- and 10-year periods ended March 31, 2008, respectively, in the U.S. open-end fund universe.

Lifestyle Portfolios – Appendix

Lifestyle Aggressive Portfolio

Two documents are available with further information on the funds:

Annual/Semiannual Report to shareholders

Includes financial statements, a discussion of the market conditions and investment strategies that significantly affected performance, as well as the auditors report (in annual report only).

Statement of Additional Information

The SAI contains more detailed information on all aspects of the funds, and includes a summary of the funds’ policy regarding disclosure of portfolio holdings, as well as legal and regulatory matters. A current SAI has been filed with the SEC and is incorporated by reference into (and is legally a part of) this prospectus.

To obtain a free copy of these documents

There are several ways you can get a current annual/semiannual report or SAI from John Hancock:

Online: www.jhfunds.com


By mail:	John Hancock Signature Services, Inc. P.O. Box 9510 Portsmouth, NH 03802-9510

By EASI-Line: 1-800-338-8080

By phone: 1-800-225-5291

By TDD: 1-800-554-6713

You can also view or obtain copies of these documents through the SEC:

Online: www.sec.gov

By e-mail (duplicating fee required): publicinfo@sec.gov


By mail (duplicating fee required):	Public Reference Section Securities and Exchange Commission Washington, DC 20549-0102

In person: at the SEC’s Public Reference Room in Washington, DC.
For access to the Reference Room, call 1-202-551-8090.

John Hancock Funds, LLC

MEMBER FINRA

601 Congress Street

Boston, MA 02210-2805

www.jhfunds.com

Electronic delivery now available at

www.jhfunds.com/edelivery

Table of contents

Fund summaries

A concise look at each fund’s investment goal, its main strategies and main risks, its past performance and the costs of investing.


3		Lifestyle Aggressive Portfolio

5		Lifestyle Growth Portfolio

7		Lifestyle Balanced Portfolio

9		Lifestyle Moderate Portfolio

11		Lifestyle Conservative Portfolio

Fund details

More about topics covered in the summary section, including descriptions of the various risk factors that investors should understand before investing.


13		Other permitted investments

13		Risks of investing in the fund of funds

14		Risks of investing in the Underlying funds

15		Who’s who

17		Financial highlights

20		Underlying fund information

Your account

How to place an order to buy, sell or exchange fund shares, as well as information about each fund’s business policies and any distributions it may pay.


23		Who can buy shares

23		Class cost structure

24		Transaction policies

25		Dividends and account policies

26		Additional investor services

		For more information See back cover

Lifestyle Portfolios Overview

There are five funds: Aggressive, Growth, Balanced, Moderate and Conservative. Each fund is a “fund of funds” that invests in a number of underlying funds.

Target allocation among underlying funds (%)


		Equity		Fixed-income
Portfolio	Investment Objective	funds		funds


Lifestyle Aggressive	Long-term growth of capital. Current income is not a consideration.		100		—

Lifestyle Growth	Long-term growth of capital. Current income is also a consideration.		80		20

Lifestyle Balanced	A balance between a high level of current income and growth of capital, with a greater emphasis on growth of capital.		60		40

Lifestyle Moderate	A balance between a high level of current income and growth of capital, with a greater emphasis on income.		40		60

Lifestyle Conservative	A high level of current income, with some consideration given to growth of capital.		20		80

Fund summary

John Hancock

Day-to-day investment management: MFC Global Investment Management (U.S.A.) Limited

Class / Ticker 1 / JILAX

Goal and strategy

The fund seeks long-term growth of capital. Current income is not a consideration.

To pursue this goal, the fund, which is a fund of funds, normally invests approximately 100% of its assets in underlying funds that invest primarily in equity securities.

Variations in the target percentage allocation between underlying funds that invest primarily in equity securities and underlying funds, which invest primarily in fixed-income securities are permitted up to 10%. Thus, based on its target percentage allocation of approximately 100% of assets in equity underlying funds, the fund may have an equity/fixed-income underlying fund allocation of 90%/10%. Although variations beyond the 10% range are generally not permitted, the subadviser may determine in light of market or economic conditions that the normal percentage limitations should be exceeded to protect the fund or to achieve its goal.

Main risks

Equity securities risk The value of a company’s equity securities is subject to changes in the company’s financial condition and overall market and economic conditions.

Exchange traded funds risk Owning an ETF generally reflects the risks of owning the underlying securities it is designed to track.

Fixed-income securities risk A rise in interest rates typically causes bond prices to fall. The longer the average maturity of the bonds held by the funds, the more sensitive the fund is likely to be to interest rate changes. There is the possibility that the issuer of the security will not repay all or a portion of the principal borrowed and will not make all interest payments.

Fund of funds risk The fund is subject to the performance of the underlying funds in which it invests.

Investment company securities risk The fund bears its own expenses and indirectly bears its proportionate share of expenses of the underlying funds in which it invests.

Management risk The fund team’s investment strategy may fail to produce the intended result.

Lifestyle Aggressive Portfolio – Fund summary

Past performance

Calendar year total returns – Class 1 (%)

Best quarter: Q4 ’06, 8.28 Worst quarter: Q4 ’07, −2.60

2006

2007

15.50

8.54

[BAR CHART]


Average annual total returns (%)	1 Year		Inception

as of 12-31-07				10-14-05

Class 1 before tax		8.54		13.96

After tax on distributions		7.01		12.27

After tax on distributions, with sale		5.79		11.04

Standard & Poor’s 500 Index		5.49		12.21

MSCI EAFE Gross Total Return Index		11.62		18.82	¹

Calendar year total returns

These do not include sales charges. These represent how a fund’s returns vary from year to year and can give an idea of its risk; however, as always, past performance (before and after taxes) does not indicate future results.

Average annual total returns

Performance of broad-based indexes is included for comparison. Indexes have no sales charges and you cannot invest in them directly.

After-tax returns These reflect the highest individual federal marginal income tax rates in effect at the time, and do not reflect any state or local taxes. Your actual after-tax returns may be different. After-tax returns are not relevant to shares held in an IRA, 401(k) or other tax-advantaged investment plan.

Standard & Poor’s 500 Index is an unmanaged index that includes 500 widely traded common stocks.

MSCI EAFE Gross Total Return Index is a free float-adjusted market capitalization index that is designed to measure developed market equity performance, excluding the U.S. and Canada.


1		Index figure as of closest month end to inception date.

Investor costs


Annual operating expenses (%)	Class 1

Management fee²		0.04

Distribution and service (12b-1) fees		0.05

Other expenses		0.02

Acquired fund fees and expenses		0.93

Total fund operating expenses³		1.04

Expense example


Expenses ($)	Class 1

1 Year		106

3 Years		331

5 Years		574

10 Years		1,271

Annual operating expenses

These are paid from fund assets; shareholders therefore pay these costs indirectly. The fund has no shareholder transaction expenses.


2		The adviser intends to waive its advisory fee or reimburse the fund in an amount such that, with respect to such other assets, the sum of (i) the advisory fee paid by the fund to the adviser and (ii) the advisory fee paid by the underlying fund to and retained (after payment of any subadvisory fee) by the adviser or its affiliate, does not exceed an annual rate of 0.50%. See “Fund details — Management fees” for further information.

3		The Total fund operating expenses include fees and expenses incurred indirectly by the fund as a result of its investment in other investment companies (e.g., underlying funds) (each, an Acquired fund). The Total fund annual expenses shown may not correlate to the fund’s ratio of expenses to average net assets shown in the Financial highlights section, which does not include Acquired fund Fees and expenses.

Lifestyle Aggressive Portfolio – Fund summary

Fund summary

John Hancock

Day-to-day investment management: MFC Global Investment Management (U.S.A.) Limited

Class / Ticker 1 / JILGX

Goal and strategy

The fund seeks long-term growth of capital. Current income is also a consideration.

Variations in the target percentage allocation between underlying funds that invest primarily in equity securities and underlying funds that invest primarily in fixed-income securities are permitted up to 10% in either direction. Thus, based on its target percentage allocation of approximately 80% of assets in equity underlying funds and 20% in fixed-income underlying funds, the fund may have an equity/fixed-income underlying fund allocation of 90%/10% or 70%/30%. Although variations beyond the 10% range are generally not permitted, the subadviser may determine in light of market or economic conditions that the normal percentage limitations should be exceeded to protect the fund or to achieve its goal.

Main risks

Equity securities risk The value of a company’s equity securities is subject to changes in the company’s financial condition and overall market and economic conditions.

Exchange traded funds risk Owning an ETF generally reflects the risks of owning the underlying securities it is designed to track.

Fund of funds risk The fund is subject to the performance of the underlying funds in which it invests.

Investment company securities risk The fund bears its own expenses and indirectly bears its proportionate share of expenses of the underlying funds in which it invests.

Management risk The fund team’s investment strategy may fail to produce the intended result.

Lifestyle Growth Portfolio – Fund summary

Past performance

Calendar year total returns – Class 1 (%)

Best quarter: Q4 ’06, 6.87 Worst quarter: Q2 ’06, -2.11

2006

2007

13.54

7.44

[BAR CHART]


Average annual total returns (%)	1 Year		Inception

as of 12-31-07				10-14-05

Class 1 before tax		7.44		12.00

After tax on distributions		5.79		10.23

After tax on distributions, with sale		4.99		9.30

80% Standard & Poor’s 500 Index/20% Lehman Brothers U.S. Aggregate Index		5.88		9.34	¹

Calendar year total returns

These do not include sales charges, and would have been lower if they did. These represent how a fund’s returns vary from year to year and can give an idea of its risk; however, as always, past performance (before and after taxes) does not indicate future results. All figures assume dividend reinvestment.

Average annual total returns

After-tax returns These reflect the highest individual federal marginal income tax rates in effect at the time and do not reflect any state or local taxes. Your actual after-tax returns may be different. After-tax returns are not relevant to shares held in an IRA, 401(k) or other tax-advantaged investment plan.

Standard & Poor’s 500 Index is an unmanaged index that includes 500 widely traded common stocks.

Lehman Brothers U.S. Aggregate Index is an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.


1		Index figure as of closest month end to inception date.

Investor costs

Annual operating expenses (%)

Class 1

Management fee²

0.04

Distribution and service (12b-1) fees

0.05

Other expenses

0.02

Acquired fund fees and expenses

0.88

Total fund operating expenses³

0.99

Expense example


Expenses ($)	Class 1

1 Year		101

3 Years		315

5 Years		547

10 Years		1,213

Annual operating expenses

These are paid from fund assets; shareholders, therefore, pay these costs indirectly.


2		The adviser intends to waive its advisory fee or reimburse the fund in an amount such that, with respect to such other assets, the sum of (i) the advisory fee paid by the fund to the adviser and (ii) the advisory fee paid by the underlying fund to and retained (after payment of any subadvisory fee) by the adviser or its affiliate, does not exceed an annual rate of 0.50%. See “Fund details — Management fees” for further information.

3		The Total fund operating expenses include fees and expenses incurred indirectly by the fund as a result of its investment in other investment companies (e.g., underlying funds) (each, an Acquired fund). The Total fund annual expenses shown may not correlate to the fund’s ratio of expenses to average net assets shown in the Financial highlights section, which does not include Acquired Fund fees and expenses.

Lifestyle Growth Portfolio – Fund summary

Fund summary

John Hancock

Day-to-day investment management: MFC Global Investment Management (U.S.A.) Limited

Class / Ticker 1 / JILBX

Goal and strategy

The fund seeks a balance between a high level of current income and growth of capital, with a greater emphasis on growth of capital.

To pursue this goal, the fund, which is a fund of funds, normally invests approximately 60% of its assets in underlying funds that invest primarily in equity securities and approximately 40% in underlying funds that invest primarily in fixed income securities.

Variations in the target percentage allocation between underlying funds that invest primarily in equity securities and underlying funds that invest primarily in fixed-income securities are permitted up to 10% in either direction. Thus, based on its target percentage allocation of approximately 60% of assets in equity underlying funds and 40% in fixed-income underlying funds, the fund may have an equity/fixed-income underlying funds allocation of 70%/30% or 50%/50%. Although variations beyond the 10% range are generally not permitted, the subadviser may determine in light of market or economic conditions that the normal percentage limitations should be exceeded to protect the fund or to achieve its goal.

Within the prescribed percentage allocation, the subadviser selects the percentage level to be maintained in specific underlying funds. The assets of the fund are rebalanced quarterly to maintain the selected percentage level. The subadviser may from time to time adjust the percentage of assets invested in any specific underlying funds to increase or decrease the fund’s holdings of particular assets classes, such as common stocks of foreign issuers, to adjust fund quality or the duration of fixed-income securities, to increase or reduce the percentage of the fund’s assets subject to the management of a particular subadviser or to reflect fundamental changes in the investment environment.

The fund may invest in various underlying funds that as a group hold a wide range of equity type securities in their funds. These include small-, mid- and large-capitalization stocks; domestic and foreign securities (including emerging market securities); and sector holdings, such as utilities and science and technology stocks. In addition to investing in exchange traded funds (ETFs), the fund may also invest in the securities of other investment companies and may make direct investments in other types of investments. Each of the underlying funds has its own investment strategy which, for example, may focus on growth stocks or value stocks or may employ a strategy combining growth and income stocks and/or may invest in derivatives such as options on securities and futures contracts. Certain of the underlying funds in which the fund invests focus their investment strategy on fixed-income securities, which may include investment grade and below investment grade debt securities with maturities that range from short to longer term. The fixed-income underlying funds collectively hold various types of debt instruments, such as corporate bonds and mortgage-backed, government-issued, domestic and international securities.

Main risks

Equity securities risk The value of a company’s equity securities is subject to changes in the company’s financial condition and overall market and economic conditions.

Exchange traded funds risk Owning an ETF generally reflects the risks of owning the underlying securities it is designed to track.

Fund of funds risk The fund is subject to the performance of the underlying funds in which it invests.

Investment company securities risk The fund bears its own expenses and indirectly bears its proportionate share of expenses of the underlying funds in which it invests.

Management risk The fund team’s investment strategy may fail to produce the intended result.

Lifestyle Balanced Portfolio – Fund summary

Past performance

Calendar year total returns – Class 1 (%)

Best quarter: Q4 ’06, 6.07 Worst quarter: Q2 ’06, -1.53

2006

2007

12.71

6.30

[BAR CHART]


Average annual total returns (%)	1 Year		Inception

as of 12-31-07

Class 1 before tax		6.30		10.60

After tax on distributions		4.57		8.72

After tax on distributions, with sale		4.18		8.01

60% Standard & Poor’s 500 Index/ 40% Lehman Brothers U.S. Aggregate Index		6.22		8.36	¹

Calendar year total returns

Average annual total returns

These include sales charges. Performance of broad-based indexes is included for comparison. Indexes have no sales charges and you cannot invest in them directly.

Standard & Poor’s 500 Index is an unmanaged index that includes 500 widely traded common stocks.

Lehman Brothers U.S. Aggregate Index is an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.


1		Index figure as of closest month end to inception date.

Investor costs

Annual operating expenses (%)

Class 1

Management fee²

0.04

Distribution and service (12b-1) fees

0.05

Other expense

0.02

Acquired fund fees and expenses

0.86

Total fund operating expenses³

0.97

Expense example


Expenses ($)	Class 1

1 Year		99

3 Years		309

5 Years		536

10 Years		1,190

Annual operating expenses

These are paid from fund assets; shareholders therefore pay these costs indirectly. The fund has no shareholder transaction expenses.


2		The adviser intends to waive its advisory fee or reimburse the fund in an amount such that, with respect to such other assets, the sum of (i) the advisory fee paid by the fund to the adviser and (ii) the advisory fee paid by the underlying fund to and retained (after payment of any subadvisory fee) by the adviser or its affiliate, does not exceed an annual rate of 0.50%. See “Fund details — Management fees” for further information.

3		The Total fund operating expenses include fees and expenses incurred indirectly by the fund as a result of its investment in other investment companies (e.g., underlying funds) (each, an Acquired fund). The Total fund annual expenses shown may not correlate to the fund’s ratio of expenses to average net assets shown in the Financial highlights section, which does not include Acquired Fund fees and expenses.

Lifestyle Balanced Portfolio – Fund summary

Fund summary

John Hancock

Lifestyle Conservative Portfolio

Day-to-day investment management: MFC Global Investment Management (U.S.A.) Limited

Class / Ticker 1 / JILMX

Goal and strategy

The fund seeks a balance between a high level of current income and growth of capital, with a greater emphasis on income.

Variations in the target percentage allocation between underlying funds that invest primarily in equity securities and underlying funds that invest primarily in fixed-income securities are permitted up to 10% in either direction. Thus, based on its target percentage allocation of approximately 40% of assets in equity underlying funds and 60% in fixed-income underlying funds, the fund may have an equity/fixed-income underlying fund allocation of 50%/50% or 30%/70%. Although variations beyond the 10% range are generally not permitted, the subadviser may determine in light of market or economic conditions that the normal percentage limitations should be exceeded to protect the fund or to achieve its goal.

Within the prescribed percentage allocation, the subadviser selects the percentage level to be maintained in specific underlying funds. The assets of the fund are rebalanced quarterly to maintain the selected percentage level. The subadviser may from time to time adjust the percentage of assets invested in any specific underlying funds to increase or decrease the fund’s holdings of particular assets classes, such as common stocks of foreign issuers, to adjust fund quality or the duration of fixed-income securities, to increase or reduce the percentage of the fund’s assets subject to the management of a particular subadviser or to reflect fundamental changes in the investment environment.

The fund may invest in various underlying funds that as a group hold a wide range of equity type securities in their funds. These include small-, mid- and large-capitalization stocks; domestic and foreign securities (including emerging market securities); and sector holdings, such as utilities and science and technology stocks. In addition to investing in exchange traded funds (ETFs), the fund may also invest in the securities of other investment companies and may make direct investments in other types of investments. Each of the underlying funds has its own investment strategy which, for example, may focus on growth stocks or value stocks or may employ a strategy combining growth and income stocks and/or may invest in derivatives such as options on securities and futures contracts. Certain of the underlying funds in which the fund invests focus their investment strategy on fixed-income securities, which may include investment grade and below investment grade debt securities with maturities that range from short to longer term. The fixed-income underlying funds collectively hold various types of debt instruments, such as corporate bonds and mortgage-backed, government-issued, domestic and international securities.

Main risks

Equity securities risk The value of a company’s equity securities is subject to changes in the company’s financial condition and overall market and economic conditions.

Exchange traded funds risk Owning an ETF generally reflects the risks of owning the underlying securities it is designed to track.

Fund of funds risk The fund is subject to the performance of the underlying funds in which it invests.

Investment company securities risk The fund bears its own expenses and indirectly bears its proportionate share of expenses of the underlying funds in which it invests.

Management risk The fund team’s investment strategy may fail to produce the intended result.

Lifestyle Moderate Portfolio – Fund summary

Past performance

Calendar year total returns – Class 1 (%)

Best quarter Q4 ’06, 4.75 Worst quarter: Q2 ’06, −1.03

2006

2007

10.32

5.25

[BAR CHART]


Average annual total returns (%)	1 Year		Inception

as of 12-31-07				10-14-05

Class 1 before tax		5.25		8.50

After tax on distributions		3.57		6.69

After tax on distributions, with sale		3.47		6.22

40% Standard & Poor’s 500 Index/60% Lehman Brothers U.S. Aggregate Index		4.74		4.94	¹

Calendar year total returns

Average annual total returns

These include sales charges. Performance of broad-based indexes is included for comparison. Indexes have no sales charges and you cannot invest in them directly.

Standard & Poor’s 500 Index is an unmanaged index that includes 500 widely traded common stocks.

Lehman Brothers U.S. Aggregate Index is an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.


1		Index figure as of closest month end to inception date.

Investor costs


Annual operating expenses (%)	Class 1

Management fee²		0.04

Distribution and service (12b-1) fees		0.05

Other expenses		0.02

Acquired fund fees and expenses		0.83

Total fund operating expenses³		0.94

Expense example


Expenses ($)	Class 1

1 Year		96

3 Years		300

5 Years		520

10 Years		1,155

Annual operating expenses

These are paid from fund assets; shareholders therefore pay these costs indirectly. The fund has no shareholder transaction expenses.


2		The adviser intends to waive its advisory fee or reimburse the fund in an amount such that, with respect to such other assets, the sum of (i) the advisory fee paid by the fund to the adviser and (ii) the advisory fee paid by the underlying fund to and retained (after payment of any subadvisory fee) by the adviser or its affiliate, does not exceed an annual rate of 0.50%. See “Fund details — Management fees” for further information.

3		The Total fund operating expenses include fees and expenses incurred indirectly by the fund as a result of its investment in other investment companies (e.g., underlying funds) (each, an Acquired fund). The Total fund annual expenses shown may not correlate to the fund’s ratio of expenses to average net assets shown in the Financial highlights section, which does not include Acquired Fund fees and expenses.

Lifestyle Moderate Portfolio – Fund summary

Fund summary

John Hancock

Day-to-day investment management: MFC Global Investment Management (U.S.A.) Limited

Class / Ticker 1 / JILCX

Goal and strategy

The fund seeks a high level of current income, with some consideration given to growth of capital.

Variations in the target percentage allocation between underlying funds that invest primarily in equity securities and underlying funds that invest primarily in fixed-income securities are permitted up to 10% in either direction. Thus, based on its investment allocation of approximately 20% of assets in equity underlying funds and 80% in fixed-income underlying funds, the fund may have an equity/fixed-income underlying fund allocation of 30%/70% or 10%/90%. Although variations beyond the 10% range are generally not permitted, the subadviser may determine in light of market or economic conditions that the normal percentage limitations should be exceeded to protect the fund or to achieve its goal.

Within the prescribed percentage allocation, the subadviser selects the percentage level to be maintained in specific underlying funds. The assets of the fund are rebalanced quarterly to maintain the selected percentage level. The subadviser may from time to time adjust the percentage of assets invested in any specific underlying funds to increase or decrease the fund’s holdings of particular assets classes, such as common stocks of foreign issuers, to adjust fund quality or the duration of fixed-income securities, to increase or reduce the percentage of the fund’s assets subject to the management of a particular subadviser or to reflect fundamental changes in the investment environment.

The fund may invest in various underlying funds that as a group hold a wide range of equity type securities in their funds. These include small-, mid- and large-capitalization stocks; domestic and foreign securities (including emerging market securities); and sector holdings, such as utilities and science and technology stocks. In addition to investing in exchange traded funds (ETFs), the fund may also invest in the securities of other investment companies and may make direct investments in other types of investments. Each of the underlying funds has its own investment strategy which, for example, may focus on growth stocks or value stocks or may employ a strategy combining growth and income stocks and/or may invest in derivatives such as options on securities and futures contracts. Certain of the underlying funds in which the fund invests focus their investment strategy on fixed-income securities, which may include investment grade and below investment grade debt securities with maturities that range from short to longer term. The fixed-income underlying funds collectively hold various types of debt instruments, such as corporate bonds and mortgage-backed, government-issued, domestic and international securities.

Main risks

Equity securities risk The value of a company’s equity securities is subject to changes in the company’s financial condition and overall market and economic conditions.

Exchange traded funds risk Owning an ETF generally reflects the risks of owning the underlying securities it is designed to track.

Fund of funds risk The fund is subject to the performance of the underlying funds in which it invests.

Investment company securities risk The fund bears its own expenses and indirectly bears its proportionate share of expenses of the underlying funds in which it invests.

Management risk The fund team’s investment strategy may fail to produce the intended result.

Lifestyle Conservative Portfolio – Fund summary

Past performance

Calendar year total returns – Class 1 (%)

Best quarter: Q3 ’06, 3.78 Worst quarter: Q2 ’06, 0.37

2006

2007

8.28

5.38

[BAR CHART]


Average annual total returns (%)	1 Year		Inception

as of 12-31-07				10-14-05

Class 1 before tax		5.38		7.08

After tax on distributions		3.58		5.23

After tax on distributions, with sale		3.50		4.97

20% Standard & Poor’s 500 Index/80% Lehman Brothers U.S. Aggregate Index		6.77		6.32	¹

Calendar year total returns

These do not include sales charges. These represent how a fund’s returns vary from year to year can and give an idea of its risk; however, as always, past performance (before and after taxes) does not indicate future results.

Average annual total returns

These include sales charges. Performance of broad-based indexes is included for comparison. Indexes have no sales charges and you cannot invest in them directly.

Standard & Poor’s 500 Index is an unmanaged index that includes 500 widely traded common stocks.

Lehman Brothers U.S. Aggregate Index is an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.


1		Index figure as of closest month end to inception date.

Investor costs


Annual operating expenses (%)	Class 1

Management fee²		0.04

Distribution and service (12b-1) fees		0.05

Other expenses		0.02

Acquired fund fees and expenses		0.80

Total fund operating expenses³		0.91

Expense example


Expenses ($)	Class 1

1 Year		93

3 Years		290

5 Years		504

10 Years		1,120

Annual operating expenses

These are paid from fund assets; shareholders therefore pay these costs indirectly. The fund has no shareholder transaction expenses.


2		The adviser intends to waive its advisory fee or reimburse the fund in an amount such that, with respect to such other assets, the sum of (i) the advisory fee paid by the fund to the adviser and (ii) the advisory fee paid by the underlying fund to and retained (after payment of any subadvisory fee) by the adviser or its affiliate, does not exceed an annual rate of 0.50%. See “Fund details — Management fees” for further information.

3		The Total fund operating expenses include fees and expenses incurred indirectly by the fund as a result of its investment in other investment companies (e.g., underlying funds) (each, an Acquired fund). The Total fund annual expenses shown may not correlate to the fund’s ratio of expenses to average net assets shown in the Financial highlights section, which does not include Acquired Fund fees and expenses.

Lifestyle Conservative Portfolio – Fund summary

Fund details

Risks of investing in the fund
of funds

The Fund may directly:


•	Purchase U.S. government securities and short-term paper.

•	Purchase shares of other registered open-end investment companies (and registered unit investment trusts) within the same “group of investment companies” as that term is defined in Section 12 of the 1940 Act.

•	Purchase shares of other registered open-end investment companies (and registered unit investment trusts) where the adviser is not the same as, or affiliated with, the Adviser to the Fund, including ETFs.

•	Invest in equity securities, which may include common and preferred stocks of large-, medium- and small-capitalization companies in both developed (including the U.S.) and emerging markets.

•	Invest in fixed-income securities, which may include debt securities of governments throughout the world (including the U.S.), their agencies and instrumentalities, debt securities of corporations and supranationals, inflation protected securities, convertible bonds, mortgage-backed securities, asset-backed securities and collateralized debt securities. Investments in fixed-income securities may include securities of issuers in both developed (including the U.S.) and emerging markets and may include fixed-income securities rated below investment grade.

•	Purchase securities of registered closed-end investment companies that are part of the same “group of investment companies” as that term is defined in Section 12 of the 1940 Act.

•	Invest up to 15% of its net assets in illiquid securities of such entities as limited partnerships and other pooled investment vehicles such as hedge funds.

•	Make short sales of securities (borrow and sell securities not owned by the fund), either to realize appreciation when a security that the fund does not own declines in value or as a hedge against potential declines in the value of a Fund security.

•	Invest in publicly traded partnerships, including publicly traded partnerships that invest principally in commodities or commodities-linked derivatives.

The Fund may use various investment strategies such as hedging and other related transactions. For example, the Fund may use derivative instruments (such as options, futures and swaps) for hedging purposes, including hedging various market risks and managing the effective maturity or duration of debt instruments held by the Fund. In addition, these strategies may be used to gain exposure to a particular securities market. The fund may also purchase and sell commodities and may enter into swap contracts and other commodity-linked derivative instruments including those linked to physical commodities. Please refer to “Risk of hedging and other strategic transactions” in the Statement of Additional Information (SAI).

Because of uncertainties under federal tax laws as to whether income from commodity-linked derivative instruments would constitute “qualifying income” to a regulated investment company, the Fund is not permitted to invest in such instruments unless the subadviser obtains prior written approval from the Fund’s Chief Compliance Officer. See “Additional information concerning taxes” in the SAI.

Asset allocation management

Temporary defensive investing

The fund may invest up to 100% of its assets in cash or money market instruments for the purpose of:


•	meeting redemption requests,

•	making other anticipated cash payments, or

•	protecting the fund in the event the subadviser determines that market or economic conditions warrant a defensive posture.

To the extent the fund is in a defensive position, its ability to achieve its investment goal will be limited.

Exchange traded funds (ETFs) risk

Fund of funds risk

Lifestyle Portfolios – Fund details

Investment company securities risk

The funds bear their own expenses and indirectly bear their proportionate share of expenses of the underlying funds in which they invest.

Equity securities risk

Equity securities include common, preferred and convertible preferred stocks and securities the values of which are tied to the price of stocks, such as rights, warrants and convertible debt securities. Common and preferred stocks represent equity ownership in a company. Stock markets are volatile. The price of equity securities will fluctuate and can decline and reduce the value of a fund investing in equities. The price of equity securities fluctuates based on changes in a company’s financial condition and overall market and economic conditions. The value of equity securities purchased by a fund could declines if the financial condition of the companies the funds are invested in declines or if overall market and economic conditions deteriorate. Even funds that invest in high quality or “blue chip” equity securities or securities of established companies with large market capitalizations (which generally have strong financial characteristics) can be negatively impacted by poor overall market and economic conditions. Companies with large market capitalizations may also have less growth potential than smaller companies and may be able to react less quickly to changes in the marketplace. The funds may maintain substantial exposure to equities and generally do not attempt to time the market. Because of this exposure, the possibility that stock market prices in general will decline over short or extended periods subjects the funds to unpredictable declines in the value of their investments, as well as periods of poor performance.

Fixed-income securities risk

Fixed-income securities are generally subject to two principal types of risks: (a) interest rate risk and (b) credit quality risk.

Investment grade fixed income securities in the lowest rating category risk Investment grade fixed income securities in the lowest rating category (rated “Baa” by Moody’s or “BBB” by S&P’s and comparable unrated securities) involve a higher degree of risk than fixed income securities in the higher rating categories. While such securities are considered investment grade quality and are deemed to have adequate capacity for payment of principal and interest, such securities lack outstanding investment characteristics and have speculative characteristics as well. For example, changes in economic conditions or other circumstances are more likely to lead to a weakened capacity to make principal and interest payments than is the case with higher grade securities.

Lower rated fixed income securities risk and high yield securities risk Lower rated fixed income securities are defined as securities rated below investment grade (rated “Ba” and below by Moody’s and “BB” and below by S&P) (also called junk bonds). The general risks of investing in these securities are as follows:


•	Risk to principal and income. Investing in lower rated fixed income securities is considered speculative. While these securities generally provide greater income potential than investments in higher rated securities, there is a greater risk that principal and interest payments will not be made. Issuers of these securities may even go into default or become bankrupt.

Dependence on subadviser’s own credit analysis. While the subadviser may rely on ratings by established credit rating agencies, it will also supplement such ratings with its own independent review of

Lifestyle Portfolios – Fund details

the credit quality of the issuer. Therefore, the assessment of the credit risk of lower rated fixed income securities is more dependent on the subadviser’s evaluation than the assessment of the credit risk of higher rated securities.

Additional risks regarding lower rated foreign government fixed income securities. Lower rated foreign government fixed income securities are subject to the risks of investing in emerging market countries described under “Foreign securities risk.” In addition, the ability and willingness of a foreign government to make payments on debt when due may be affected by the prevailing economic and political conditions within the country. Emerging market countries may experience high inflation, interest rates and unemployment as well as instability. These factors increase the risk that a foreign government will not make payments when due.

Foreign securities risk

Management risk

These investment strategies and securities are described further in the SAI.

Below are the names of the various entities involved with the funds’ investment and business operations, along with brief descriptions of the role each entity performs.

Trustees

Investment adviser

Manages the funds’ business and investment activities.

John Hancock Investment Management Services, LLC
601 Congress Street
Boston, MA 02210-2805

The adviser administers the business and affairs of the fund and retains and compensates an investment subadviser to manage the assets of the fund. As of December 31, 2007, the adviser had total assets under management of approximately $109 billion.

The funds rely on an order from the SEC permitting the adviser, subject to Board approval, to appoint a subadviser or change the terms of a subadvisory agreement without obtaining shareholder approval. The fund, therefore, is able to change subadvisers or the fees paid to subadvisers from time to time without the expense and delays associated with obtaining shareholder approval of the change. This order does not, however, permit the adviser to appoint a subadviser that is an affiliate of the adviser or the fund (other than by reason of

Lifestyle Portfolios – Fund details

serving as a subadviser to a fund) or to change a subadvisory fee of a subadviser without the approval of the shareholders.

Management fees

Each fund pays the adviser a management fee for its services to the fund. The management fee has two components: (a) a fee on assets invested in a fund of John Hancock Funds II (JHF II) or John Hancock Funds III (JHF III); and (b) a fee on assets not invested in investments other than a fund of JHF II or JHF III (other assets).

The fee on assets is invested in a fund of JHF II or JHF III stated as an annual percentage of the current value of the aggregate net assets of the fund, the four other Lifestyle funds, and of the five, corresponding Lifestyle Trusts of John Hancock Trust (JHT) (but only for the period during which the subadviser to the fund also serves as the subadviser for such other JHT and JHF II funds) determined in accordance with the following schedule.

Advisory fee on assets invested in a fund of JHF II or JHF III

The fee on other assets is stated as an annual percentage of the current value of the aggregate net assets of the fund, the four other Lifestyle funds, and of the five corresponding Lifestyle Trusts of JHT (but only for the period during which the subadviser to the fund also serves as the subadviser for such other JHT and JHF II funds), determined in accordance with the following schedule.

Advisory fee on other assets


	Lifestyle Aggressive Portfolio: 0.041% Lifestyle Growth Portfolio: 0.041% Lifestyle Balanced Portfolio: 0.041% Lifestyle Moderate Portfolio: 0.041% Lifestyle Conservative Portfolio: 0.041%

Out of these fees, the investment adviser in turn paid the fees of the subadviser and certain other service providers.

The basis for the Trustees’ approval of the fees, and of the investment advisory agreement overall, including the subadvisory agreement, is discussed in the funds’ December 31, 2007 annual report and June 30, 2007 semiannual report.

Subadviser

Handles the funds’ day-to-day fund management.

MFC Global Investment Management (U.S.A.) Limited
200 Bloor Street East
Toronto, Ontario, Canada M4W 1E5


•	provides investment advisory services to individual and institutional investors and is a wholly owned subsidiary of Manulife Financial Corporation

•	as of December 31, 2007, it and its affiliates had total assets under management of approximately $217 billion

•	supervised by the adviser, John Hancock Investment Management Services, LLC

Subadviser consultant

Deutsche Investment Management Americas, Inc.
345 Park Avenue
New York, NY 10154


•	provides subadvisory consulting services to the subadviser in its management of the funds

•	provides investment advisory services to retail and institutional clients

•	is a wholly owned subsidiary of Deutsche Bank AG, an international commercial and investment banking group

Portfolio Managers

Below are brief biographical profiles of the fund’s investment management team, in alphabetical order. These managers share portfolio management responsibilities. For more about these individual, including information about their compensation, other accounts they manage and any investments they may have in the funds, see the SAI.

Steve Orlich


•	portfolio manager since inception

•	joined MFC Global Investment Management (U.S.A.) Limited in 1998

•	Vice president and senior portfolio manager, Asset Allocation

Scott Warlow


•	portfolio manager since 2007

•	joined MFC Global Investment Management (U.S.A.) Limited in 2002

•	Assistant vice president and portfolio manager, Asset Allocation Portfolios

Custodian

Holds the funds’ assets, settles all portfolio trades and collects most of the valuation data required for calculating the funds’ net asset value (NAV).

State Street Bank & Trust Company
2 Avenue de Lafayette
Boston, MA 02111

Principal distributor

Markets the funds and distributes shares through selling brokers, financial planners and other financial representatives.

John Hancock Funds, LLC
601 Congress Street
Boston, MA 02210-2805

Lifestyle Portfolios – Fund details

Underlying fund information

Lifestyle Aggressive Class 1 Shares


Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$12.60			$14.07			$14.68

Income (loss) from investment operations

Net investment income (loss)^1,2		0.06			0.10			0.15

Net realized and unrealized gain (loss) on investments		1.48			1.25			1.09

Total from investment operations		1.54			1.35			1.24

Less distributions

From net investment income		(0.07	)		(0.45	)		(0.20	)

From net realized gain		—			(0.29	)		(0.54	)

From capital paid-in		—			—			—

Total distributions		(0.07	)		(0.74	)		(0.74	)

Net asset value, end of period		$14.07			$14.68			$15.18

Total Return³ (%)		12.27	⁷		9.59	⁷		8.54


Ratios and supplemental data

Net assets, end of period (in millions)		$2,422			$2,782			$3,416

Ratios to average net assets

Ratio of gross expenses to average net assets⁴ (%)		0.11	⁹		0.11	⁹		0.11

Ratio of net expenses to average net assets⁴ (%)		0.11	⁹		0.11	⁹		0.11	¹⁴

Ratio of net investment income (loss) to average net assets¹ (%)		0.48	⁹		2.09	⁹		0.94

Portfolio turnover (%)		23	⁷		5	⁷		21

Lifestyle Growth Class 1 Shares


Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.31			$14.63			$14.67

Income (loss) from investment operations

Net investment income (loss)^1,2		0.15			0.17			0.30

Net realized and unrealized gain (loss) on investments		1.25			1.03			0.77

Total from investment operations		1.40			1.20			1.07

Less distributions

From net investment income		(0.08	)		(0.48	)		(0.29	)

From net realized gain		—			(0.36	)		(0.45	)

From capital paid-in		—			(0.32	)		—

Total distributions		(0.08	)		(1.16	)		(0.74	)

Net asset value, end of period		$14.63			$14.67			$15.00	⁷

Total return³ (%)		10.58	⁷		8.18	⁷		7.44	⁶


Ratios and supplemental data

Net assets, end of period (in millions)		$7,081			$8,059			$9,574

Ratios to average net assets

Ratio of gross expenses to average net assets⁴ (%)		0.11	⁹		0.11	⁹		0.11

Ratio of net expenses to average net assets⁴ (%)		0.11	⁹		0.11	⁹		0.11	¹⁴

Ratio of net investment income (loss) to average net assets¹ (%)		1.17	⁹		3.34	⁹		1.94

Portfolio turnover (%)		26	⁷		4	⁷		18

Lifestyle Portfolios – Fund details

Financial highlights, continued

Lifestyle Balanced Class 1 Shares


Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.31			$14.34			$14.31

Income (loss) from investment operations

Net investment income (loss)^1,2		0.22			0.24			0.42

Net realized and unrealized gain (loss) on investments		1.03			0.82			0.47

Total from investment operations		1.25			1.06			0.89

Less distributions

From net investment income		(0.22	)		(0.45	)		(0.41	)

From net realized gain		—	¹¹		(0.27	)		(0.32	)

From capital paid-in		—			(0.37	)		—

Total distributions		(0.22	)		(1.09	)		(0.73	)

Net asset value, end of period		$14.34			$14.31			$14.47

Total Return³ (%)		9.47	⁷		7.40	⁷		6.30


Ratios and supplemental data

Net assets, end of period (in millions)		$6,736			$7,609			$8,928

Ratios to average net assets

Ratio of gross expenses to average net assets⁴ (%)		0.11	⁹		0.11	⁹		0.11

Ratio of net expenses to average net assets⁴ (%)		0.11	⁹		0.11	⁹		0.11	¹⁴

Ratio of net investment income (loss) to average net assets¹ (%)		1.81	⁹		4.84	⁹		2.84

Portfolio turnover (%)		23	⁷		3	⁷		14

Lifestyle Moderate Class 1 Shares


Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$12.93			$13.63			$13.50

Income (loss) from investment operations

Net investment income (loss)^1,2		0.26			0.27			0.49

Net realized and unrealized gain (loss) on investments		0.70			0.54			0.21

Total from investment operations		0.96			0.81			0.70

Less distributions

From net investment income		(0.26	)		(0.38	)		(0.47	)

From net realized gain		—			(0.21	)		(0.19	)

From capital paid-in		—			(0.35	)		—

Total distributions		(0.26	)		(0.94	)		(0.66	)

Net asset value, end of period		$13.63			$13.50			$13.54

Total Return³ (%)		7.47	⁷		5.90	⁷		5.25


Ratios and supplemental data

Net assets, end of period (in millions)		$1,820			$2,008			$2,339

Ratios to average net assets

Ratio of gross expenses to average net assets⁴ (%)		0.11	⁹		0.11	⁹		0.11

Ratio of net expenses to average net assets⁴ (%)		0.11	⁹		0.11	⁹		0.11	¹⁴

Ratio of net investment income (loss) to average net assets¹ (%)		2.23	⁹		5.80	⁹		3.53

Portfolio turnover (%)		24	⁷		1	⁷		13

Lifestyle Portfolios – Fund details

Financial highlights, continued

Lifestyle Conservative Class 1 Shares


Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.15			$13.64			$13.27

Income (loss) from investment operations

Net investment income (loss)^1,2		0.30			0.32			0.57

Net realized and unrealized gain (loss) on investments		0.48			0.25			0.14

Total from investment operations		0.78			0.57			0.71

Less distributions

From net investment income		(0.29	)		(0.40	)		(0.56	)

From net realized gain		—			(0.16	)		(0.12	)

From capital paid-in		—			(0.38	)		—

Total distributions		(0.29	)		(0.94	)		(0.68	)

Net asset value, end of period		$13.64			$13.27			$13.30

Total return³ (%)		6.01	⁷		4.16	⁷		5.38	⁶


Ratios and supplemental data

Net assets, end of period (in millions)		$1,097			$1,184			$1,401

Ratios to average net assets

Ratio of gross expenses to average net assets⁴ (%)		0.12	⁹		0.11	⁹		0.11

Ratio of net expenses to average net assets⁴ (%)		0.12	⁹		0.11	⁹		0.11	¹⁴

Ratio of net investment income (loss) to average net assets¹ (%)		2.54	⁹		6.96	⁹		4.24

Portfolio turnover (%)		20	⁷		2	⁷		13


1		Recognition of net investment income by the Portfolio is affected by the timing of the declaration of dividends by the underlying funds in which the Portfolio invests.

2		Based on the average of the shares outstanding.

3		Assumes dividend reinvestment and does not reflect the effect of sales charges.

4		Does not include expenses of the underlying affiliated funds in which the Portfolio invests.

5		Effective January 18, 2007, the fiscal year-end changed from August 31 to December 31.

6		Total returns would have been lower had certain expenses not been reduced during the periods shown.

7		Not annualized.

8		Does not take into consideration expense reductions during the periods shown.

9		Annualized.

10		Class A, Class B, Class C, Class R3, Class R4 and Class R5 shares began operations on October 18, 2005; Class R, Class R1 and Class R2 began operations on September 18, 2006; and Class 1 shares began operation on October 15, 2005.

11		Less than $0.01 per share.

12		Less than $500,000.

13		Class 5 shares began operation on July 3, 2006.

14		Ratios do not include expenses indirectly incurred from underlying portfolios whose expense ratios can vary between 0.79% and 0.91% based on the mix of underlying portfolios held by the portfolio.

15		Includes transfer agent fee earned credits of less than 0.01% to average net assets.

Lifestyle Portfolios – Fund details

The funds invest primarily in underlying funds. Therefore, each fund’s investment performance is directly related to the investment performance of the underlying funds. Information regarding the underlying funds is available in the applicable fund’s prospectus and SAI. This prospectus is not an offer for any of the underlying funds. For copies of the prospectuses of the John Hancock underlying funds, which contain this and other information, visit our Web site at www.jhfunds.com.

As of March 31, 2008, the funds allocated assets to the underlying funds stated below.


Lifestyle Aggressive Portfolio


Underlying fund:		Subadviser:


All Cap Core Fund		Deutsche Investment Management Americas Inc.
All Cap Value Fund		Lord, Abbett & Co. LLC
Blue Chip Growth Fund		T. Rowe Price Associates, Inc.
Capital Appreciation Fund		Jennison Associates LLC
Core Equity Fund		Legg Mason Capital Management, Inc.
Emerging Growth Fund		MFC Global Investment Management (U.S.), LLC
Emerging Markets Value Fund		Dimensional Fund Advisors LP
Equity-Income Fund		T. Rowe Price Associates, Inc.
Fundamental Value Fund		Davis Selected Advisers, LP
International Core Fund		Grantham, Mayo, Van Otterloo & Co. LLC
International Equity Index Fund		SSgA Funds Management, Inc.
International Opportunities Fund		Marsico Capital Management, LLC
International Small Cap Fund		Templeton Investment Counsel, LLC
International Small Company Fund		Dimensional Fund Advisors LP
International Value Fund		Templeton Investment Counsel, Inc.
Large Cap Fund		UBS Global Asset Management (Americas) Inc.
Large Cap Value Fund		BlackRock Investment Management, LLC
Mid Cap Index Fund		MFC Global Investment Management (U.S.A.) Limited
Mid Cap Intersection Fund		Wellington Management Company, LLP
Mid Cap Stock Fund		Wellington Management Company, LLP
Mid Cap Value Equity Fund		RiverSource Investments, LLC
Mid Cap Value Fund		Lord, Abbett & Co. LLC
Natural Resources Fund		Wellington Management Company, LLP
Optimized Value Fund		MFC Global Investment Management (U.S.A.) Limited
Small Cap Fund		Independence Investments LLC
Small Cap Index Fund		MFC Global Investment Management (U.S.A.) Limited
Small Cap Intrinsic Value Fund		MFC Global Investment Management (U.S.), LLC
Small Company Fund		American Century Investment Management, Inc.
Small Company Value Fund		T. Rowe Price Associates, Inc.
U.S. Multi-Sector Fund		Grantham, Mayo, Van Otterloo & Co. LLC
Value & Restructuring Fund		UST Advisers, Inc.
Vista Fund		American Century Investment Management, Inc.


Lifestyle Growth Portfolio


Underlying fund:		Subadviser:


All Cap Core Fund		Deutsche Investment Management Americas Inc.
All Cap Growth Fund		AIM Capital Management, Inc.
Blue Chip Growth Fund		T. Rowe Price Associates, Inc.
Capital Appreciation Fund		Jennison Associates LLC
Core Equity Fund		Legg Mason Capital Management, Inc.
Emerging Markets Value Fund		Dimensional Fund Advisors LP
Equity-Income Fund		T. Rowe Price Associates, Inc.
Floating Rate Income Fund		Western Asset Management Company
Fundamental Value Fund		Davis Selected Advisers, LP
Global Bond Fund		Pacific Investment Management Company LLC
Global Real Estate Fund		Deutsche Investment Management Americas Inc.
High Income Fund		MFC Global Investment Management (U.S.), LLC
High Yield Fund		Western Asset Management Company
Index 500 Fund		MFC Global Investment Management (U.S.A.) Limited
International Core Fund		Grantham, Mayo, Van Otterloo & Co. LLC
International Equity Index Fund		SSgA Funds Management, Inc.
International Opportunities Fund		Marsico Capital Management, LLC
International Small Cap Fund		Templeton Investment Counsel, LLC
International Small Company Fund		Dimensional Fund Advisors LP
International Value Fund		Templeton Investment Counsel, Inc.
Large Cap Fund		UBS Global Asset Management (Americas) Inc.
Large Cap Value Fund		BlackRock Investment Management, LLC
Mid Cap Index Fund		MFC Global Investment Management (U.S.A.) Limited
Mid Cap Intersection Fund		Wellington Management Company, LLP
Mid Cap Stock Fund		Wellington Management Company, LLP

Lifestyle Portfolios – Fund details


Mid Cap Value Equity Fund		RiverSource Investments, LLC
Mid Cap Value Fund		Lord, Abbett & Co. LLC
Natural Resources Fund		Wellington Management Company, LLP
Optimized Value Fund		MFC Global Investment Management (U.S.A.) Limited
Real Estate Equity Fund		T. Rowe Price Associates, Inc.
Real Return Bond Fund		Pacific Investment Management Company LLC
Small Cap Fund		Independence Investments LLC
Small Cap Intrinsic Value Fund		MFC Global Investment Management (U.S.), LLC
Small Cap Opportunities Fund		Munder Capital Management
Small Company Growth Fund		AIM Capital Management, Inc.
Small Company Value Fund		T. Rowe Price Associates, Inc.
Spectrum Income Fund		T. Rowe Price Associates, Inc.
Strategic Bond Fund		Western Asset Management Company
Strategic Income Fund		MFC Global Investment Management (U.S.), LLC
Total Return Fund		Pacific Investment Management Company LLC
U.S. High Yield Bond Fund		Wells Capital Management, Incorporated
U.S. Multi-Sector Fund		Grantham, Mayo, Van Otterloo & Co. LLC
Value & Restructuring Fund		UST Advisers, Inc.
Vista Fund		American Century Investment Management, Inc.


Lifestyle Balanced Portfolio


Underlying fund:		Subadviser:


Active Bond Fund		Declaration Management & Research LLC and MFC Global Investment Management (U.S.), LLC
All Cap Core Fund		Deutsche Investment Management Americas Inc.
Blue Chip Growth Fund		T. Rowe Price Associates, Inc.
Capital Appreciation Fund		Jennison Associates LLC
Core Bond Fund		Wells Capital Management, Incorporated
Core Equity Fund		Legg Mason Capital Management, Inc.
Emerging Markets Value Fund		Dimensional Fund Advisors LP
Equity-Income Fund		T. Rowe Price Associates, Inc.
Floating Rate Income Fund		Western Asset Management Company
Fundamental Value Fund		Davis Selected Advisers, LP
Global Bond Fund		Pacific Investment Management Company LLC
Global Real Estate Fund		Deutsche Investment Management Americas Inc.
High Income Fund		MFC Global Investment Management (U.S.), LLC
High Yield Fund		Western Asset Management Company
Index 500 Fund		MFC Global Investment Management (U.S.A.) Limited
International Core Fund		Grantham, Mayo, Van Otterloo & Co. LLC
International Opportunities Fund		Marsico Capital Management, LLC
International Small Cap Fund		Templeton Investment Counsel, LLC
International Value Fund		Templeton Investment Counsel, Inc.
Large Cap Fund		UBS Global Asset Management (Americas) Inc.
Large Cap Value Fund		BlackRock Investment Management, LLC
Mid Cap Index Fund		MFC Global Investment Management (U.S.A.) Limited
Mid Cap Stock Fund		Wellington Management Company, LLP
Natural Resources Fund		Wellington Management Company, LLP
Optimized Value Fund		MFC Global Investment Management (U.S.A.) Limited
Real Estate Equity Fund		T. Rowe Price Associates, Inc.
Real Return Bond Fund		Pacific Investment Management Company LLC
Small Company Growth Fund		AIM Capital Management, Inc.
Small Company Value Fund		T. Rowe Price Associates, Inc.
Spectrum Income Fund		T. Rowe Price Associates, Inc.
Strategic Bond Fund		Western Asset Management Company
Strategic Income Fund		MFC Global Investment Management (U.S.), LLC
Total Return Fund		Pacific Investment Management Company LLC
U.S. High Yield Bond Fund		Wells Capital Management, Incorporated
U.S. Multi-Sector Fund		Grantham, Mayo, Van Otterloo & Co. LLC
Value & Restructuring Fund		UST Advisers, Inc.


Lifestyle Moderate Portfolio


Underlying fund:		Subadviser:


Active Bond Fund		Declaration Management & Research LLC and MFC Global Investment Management (U.S.), LLC
Blue Chip Growth Fund		T. Rowe Price Associates, Inc.
Core Bond Fund		Wells Capital Management, Incorporated
Core Equity Fund		Legg Mason Capital Management, Inc.
Equity-Income Fund		T. Rowe Price Associates, Inc.
Floating Rate Income Fund		Western Asset Management Company
Fundamental Value Fund		Davis Selected Advisers, LP
Global Bond Fund		Pacific Investment Management Company LLC

Lifestyle Portfolios – Fund details


Global Real Estate Fund		Deutsche Investment Management Americas Inc.
High Income Fund		MFC Global Investment Management (U.S.), LLC
High Yield Fund		Western Asset Management Company
International Core Fund		Grantham, Mayo, Van Otterloo & Co. LLC
International Equity Index Fund		SSgA Funds Management, Inc.
International Opportunities Fund		Marsico Capital Management, LLC
International Value Fund		Templeton Investment Counsel, Inc.
Investment Quality Bond Fund		Wellington Management Company, LLP
Mid Cap Index Fund		MFC Global Investment Management (U.S.A.) Limited
Real Estate Equity Fund		T. Rowe Price Associates, Inc.
Real Return Bond Fund		Pacific Investment Management Company LLC
Small Company Fund		American Century Investment Management, Inc.
Small Company Growth Fund		AIM Capital Management, Inc.
Small Company Value Fund		T. Rowe Price Associates, Inc.
Spectrum Income Fund		T. Rowe Price Associates, Inc.
Strategic Bond Fund		Western Asset Management Company
Strategic Income Fund		MFC Global Investment Management (U.S.), LLC
Total Return Fund		Pacific Investment Management Company LLC
U.S. High Yield Bond Fund		Wells Capital Management, Incorporated
U.S. Multi-Sector Fund		Grantham, Mayo, Van Otterloo & Co. LLC
Value & Restructuring Fund		UST Advisers, Inc.


Lifestyle Conservative Portfolio


Underlying fund:		Subadviser:


Active Bond Fund		Declaration Management & Research LLC and MFC Global Investment Management (U.S.), LLC
Blue Chip Growth Fund		T. Rowe Price Associates, Inc.
Core Bond Fund		Wells Capital Management, Incorporated
Equity-Income Fund		T. Rowe Price Associates, Inc.
Floating Rate Income Fund		Western Asset Management Company
Fundamental Value Fund		Davis Selected Advisers, LP
Global Bond Fund		Pacific Investment Management Company LLC
Global Real Estate Fund		Deutsche Investment Management Americas Inc.
High Income Fund		MFC Global Investment Management (U.S.), LLC
High Yield Fund		Western Asset Management Company
International Core Fund		Grantham, Mayo, Van Otterloo & Co. LLC
International Value Fund		Templeton Investment Counsel, Inc.
Investment Quality Bond Fund		Wellington Management Company, LLP
Real Estate Equity Fund		T. Rowe Price Associates, Inc.
Real Return Bond Fund		Pacific Investment Management Company LLC
Spectrum Income Fund		T. Rowe Price Associates, Inc.
Strategic Bond Fund		Western Asset Management Company
Strategic Income Fund		MFC Global Investment Management (U.S.), LLC
Total Return Fund		Pacific Investment Management Company LLC
U.S. High Yield Bond Fund		Wells Capital Management, Incorporated
U.S. Multi-Sector Fund		Grantham, Mayo, Van Otterloo & Co. LLC
U.S. Government Securities Fund		Western Asset Management Company
Value & Restructuring Fund		UST Advisers, Inc.

Lifestyle Portfolios – Fund details

Your account

Who can buy shares

Class 1 shares are sold only to certain exempt separate accounts of John Hancock Life Insurance Company (U.S.A.) and John Hancock Life Insurance Company of New York (John Hancock Insurance Companies) that fund exempt group annuity contracts issued by these insurance companies to qualified retirement plans.

Class cost structure

The Class 1 shares of the fund are sold without any front-end or deferred sales charges. Class 1 has a Rule 12b-1 plan that allows it to pay fees for the sale and distribution of its shares and for shareholder and administrative services.


•	Distribution and service (12b-1) fees of 0.05%.

•	The performance and expenses information included in this prospectus does not reflect fees and expenses of any group annuity contract that may use the fund as its underlying investment medium. If such fees and expenses had been reflected, performance would be lower.

12b-1 fees

Rule 12b-1 fees will be paid to the fund’s distributor, John Hancock Funds, LLC, and may be used by the distributor for expenses relating to the distribution of, and shareholder or administrative services for holders of, the shares of the class and for the payment of “service fees” that come within Rule 2830(d)(5) of the Conduct Rules of the Financial Industry Regulatory Authority (FINRA) (formerly the National Association of Securities Dealers, Inc.)

Because 12b-1 fees are paid out of the fund assets on an ongoing basis, over time they will increase the cost of your investment and may cost you more than other types of sales charges.

Other classes of shares of the fund, which have their own expense structure, may be offered in separate prospectuses.

Your broker-dealer or agent may charge you a fee to effect transactions in fund shares.

Additional payments to financial intermediaries

Shares of the fund are primarily sold through financial intermediaries (firms), such as brokers, banks, registered investment advisers, financial planners and retirement plan administrators. These firms may be compensated for selling shares of the fund in two principal ways:


•	directly, by the payment of sales commissions, if any; and

•	indirectly, as a result of the fund paying Rule 12b-1 fees.

Certain firms may request, and the distributor may agree to make, payments in addition to sales commissions and Rule 12b-1 fees out of the distributor’s own resources. These additional payments are sometimes referred to as revenue sharing. These payments assist in the distributor’s efforts to promote the sale of the fund’s shares. The distributor agrees with the firm on the methods for calculating any additional compensation, which may include the level of sales or assets attributable to the firm. Not all firms receive additional compensation and the amount of compensation varies. These payments could be significant to a firm. The distributor determines which firms to support and the extent of the payments it is willing to make. The distributor generally chooses to compensate firms that have a strong capability to distribute shares of the fund and that are willing to cooperate with the distributor’s promotional efforts.

The distributor hopes to benefit from revenue sharing by increasing the Fund’s net assets, which, as well as benefiting the fund, would result in additional management and other fees for the adviser and its affiliates. In consideration for revenue sharing, a firm may feature the fund in its sales system or give preferential access to members of its sales force or management. In addition, the firm may agree to participate in the distributor’s marketing efforts by allowing the distributor or its affiliates to participate in conferences, seminars or other programs attended by the intermediary’s sales force. Although an intermediary may seek revenue sharing payments to offset costs incurred by the firm in servicing its clients who have invested in the fund, the intermediary may earn a profit on these payments. Revenue sharing payments may provide your firm with an incentive to favor the fund.

The SAI discusses the distributor’s revenue sharing arrangements in more detail. Your intermediary may charge you additional fees other than those disclosed in this prospectus.

You can ask your firm about any payments it receives from the distributor or the fund, as well as about fees and/or commissions it charges.

The distributor, adviser and their affiliates may have other relationships with your firm relating to the provisions of services to the funds, such as providing omnibus account services, transaction processing services or effecting fund transactions for the fund. If your intermediary provides these services, the adviser or the funds may compensate the intermediary for these services. In addition, your intermediary may have other compensated relationships with the adviser or its affiliates that are not related to the funds.

Broker compensation and revenue
sharing arrangements

The John Hancock Insurance Companies and certain of their separate accounts that are exempt from SEC registration may use Class 1 shares of the fund as an underlying investment medium for exempt group annuity contracts (Group Contracts) issued to certain qualified retirement plans (the Plans). John Hancock Insurance Companies and their affiliates pay compensation to broker-dealers and insurance agents for the sale of the Group Contracts and also pay compensation to third party administrators (TPAs) for the services they provide in connection with the administration of the Plans. To the extent the Insurance Companies and their affiliates pay additional compensation to, and enter into revenue sharing arrangements with, certain broker-dealers, agents or TPAs, JHF II understands that the John Hancock Insurance Companies disclose such compensation and arrangements to the Plans. The Trust also understands that, in the case of Group Contracts issued by John Hancock Insurance Companies, any such compensation or amounts paid under revenue sharing arrangements may be derived, in whole or in part, through 12b-1 distribution fees or through the adviser’s profit on the advisory fee.

Lifestyle Portfolios – Your account

Valuation of shares

The NAV per share for each class of the fund and share class is determined each business day at the close of regular trading on the New York Stock Exchange (typically 4:00 p.m., Eastern Time). The NAV for each fund is calculated based upon the NAVs of the underlying funds and other investments in which it invests. The prospectuses for the underlying funds explain the circumstances under which those underlying funds use fair-value pricing and the effects of doing so.

Buy and sell prices

When you buy shares, you pay the NAV plus any applicable sales charges, as described earlier. When you sell shares, you receive the NAV minus any applicable deferred sales charges.

Execution of requests

The fund is open on those days when the New York Stock Exchange is open, typically Monday through Friday. Buy and sell requests are executed at the next NAV to be calculated.

In unusual circumstances, the fund may temporarily suspend the processing of sell requests, or may postpone payment of proceeds for up to three business days or longer, as allowed by federal securities laws.

Excessive trading

The fund is intended for long-term investment purposes only and does not knowingly accept shareholders who engage in market timing or other types of excessive short-term trading. Short-term trading into and out of a fund can disrupt investment strategies and may increase fund expenses for all shareholders, including long-term shareholders who do not generate these costs.

Right to reject or restrict purchase and
exchange orders

Purchases and exchanges should be made primarily for investment purposes. The fund reserves the right to restrict, reject or cancel (with respect to cancellations, within one day of the order), for any reason and without any prior notice, any purchase or exchange order, including transactions representing excessive trading and transactions accepted by any shareholder’s financial intermediary. For example, a fund may in its discretion restrict, reject or cancel a purchase or exchange order even if the transaction is not subject to the specific “Limitation on exchange activity” described below if the fund or its agents determine that accepting the order could interfere with the efficient management of the fund’s underlying funds or otherwise not be in the fund’s best interest in light of unusual trading activity related to your account. In the event that a fund rejects or cancels an exchange request, neither the redemption nor the purchase side of the exchange will be processed. If you would like the redemption request to be processed even if the purchase order is rejected, you should submit separate redemption and purchase orders rather than placing an exchange order. Each fund reserves the right to delay for up to one business day, consistent with applicable law, the processing of exchange requests in the event that, in the fund’s judgment, such delay would be in the fund’s best interest, in which case both the redemption and purchase side of the exchange will receive the funds’ NAVs at the conclusion of the delay period. A fund, through its agents in their sole discretion, may impose these remedial actions at the account holder level or the underlying shareholder level.

Exchange limitation policies

The Board of Trustees has adopted the following policies and procedures by which the funds, subject to the limitations described below, take steps reasonably designed to curtail excessive trading practices.

Limitation on exchange activity

Limitation on the ability to detect and curtail excessive trading practices

Lifestyle Portfolios – Your account

program sponsors. These arrangements often permit the financial intermediary to aggregate its clients’ transactions and ownership positions and do not identify the particular underlying shareholder(s) to the fund. However, the fund will work with financial intermediaries as necessary to discourage shareholders from engaging in abusive trading practices and to impose restrictions on excessive trades. In this regard, the fund has entered into information sharing agreements with financial intermediaries pursuant to which these intermediaries are required to provide to the fund, at the fund’s request, certain information relating to their customers investing in the fund through omnibus or other nominee accounts. The fund will use this information to attempt to identify excessive trading practices. Financial intermediaries are contractually required to follow any instructions from the fund to restrict or prohibit future purchases from shareholders that are found to have engaged in excessive trading in violation of the fund’s policies. The fund cannot guarantee the accuracy of the information provided to it from financial intermediaries and so cannot ensure that it will be able to detect abusive trading practices that occur through omnibus or other nominee accounts. As a consequence, the fund’s ability to monitor and discourage excessive trading practices in these types of accounts may be limited.

Excessive trading risk

To the extent that a fund or its agent is unable to curtail excessive trading practices in a fund, these practices may interfere with the efficient management of the fund and may result in the fund engaging in certain activities to a greater extent than it otherwise would, such as maintaining higher cash balances, using its line of credit and engaging in fund transactions. Increased fund transactions and use of the line of credit would correspondingly increase a fund’s operating costs and decrease a fund’s investment performance. Maintenance of higher levels of cash balances would likewise result in lower fund investment performance during periods of rising markets.

While excessive trading can potentially occur in any fund, certain types of funds are more likely than others to be targets of excessive trading. For example:


•	A fund that invests a significant portion of its assets in small- or mid capitalization stocks or securities in particular industries that may trade infrequently or are fair valued as discussed under “Valuation of shares.” These types of securities entail a greater risk of excessive trading, as investors may seek to trade Fund shares in an effort to benefit from their understanding of the value of those types of securities (referred to as price arbitrage).

•	A fund that invests a material portion of its assets in securities of non-U.S. issuers may be a potential target for excessive trading if investors seek to engage in price arbitrage based upon general trends in the securities markets that occur subsequent to the close of the primary market for such securities.

•	A fund that invests a significant portion of its assets in below investment grade (junk) bonds, that may trade infrequently or are fair valued as discussed under “Valuation of shares,” entails a greater risk of excessive trading, as investors may seek to trade fund shares in an effort to benefit from their understanding of the value of those types of securities.

Any frequent trading strategies may interfere with efficient management of a fund. A fund that invests in the types of securities discussed above may be exposed to this risk to a greater degree than a fund that invests in highly liquid securities. These risks would be less significant, for example, in a fund that primarily invests in U.S. government securities, money market instruments, investment-grade corporate issuers or large-capitalization U.S. equity securities. Any successful price arbitrage may cause dilution in the value of fund shares held by other shareholders.

Account information

The fund is required by law to obtain information for verifying an account holder’s identity. For example, an individual will be required to supply name, address, date of birth and Social Security number. If you do not provide the required information, we may not be able to open your account. If verification is unsuccessful, the fund may close your account, redeem your shares at the next NAV minus any applicable sales charges and take any other steps that it deems reasonable.

Certificated shares

The funds do not issue share certificates. Shares are electronically recorded.

Sales in advance of purchase payments

When you place a request to sell shares for which the purchase money has not yet been collected, the request will be executed in a timely fashion, but the fund will not release the proceeds to you until your purchase payment clears. This may take up to ten business days after the purchase.

Additional Investor services

Account statements

Each fund will provide account statements and other account information to shareholders as provided in participation agreements with the insurance companies and in John Hancock Retirement Select agreements with qualified retirement plans.

Dividends

The fund generally declares and pays income dividends annually. Capital gains, if any, are distributed annually, typically after the end of a fund’s fiscal year.

Dividend reinvestments

Most investors have their dividends reinvested in additional shares of the same fund and class. If you choose this option, or if you do not indicate any choice, your dividends will be reinvested on the dividend record date.

Alternatively, you may choose to have your dividends and capital gains sent directly to your bank account or a check may be mailed if your combined dividend and capital gains amount is $10 or more. However, if the check is not deliverable or the combined dividend and capital gains amount is less than $10, your proceeds will be reinvested. If five or more of your dividend or capital gains checks remain uncashed after 180 days, all subsequent dividends and capital gains will be reinvested. No front-end sales charge or contingent deferred sales charge will be imposed on shares derived from reinvestment of dividends or capital gains distributions.

Under current law, distributions of net investment income and net capital gain are not taxed to a life insurance company to the extent applied to increase the reserves for the company’s variable annuity and life insurance contracts.

Taxability of dividends

For investors who are not exempt from federal income taxes, dividends you receive from a fund, whether reinvested or taken as cash, are generally considered taxable. Dividends from a fund’s short-term capital gains are taxable as ordinary income. Dividends from a fund’s long-term capital gains are taxable at a lower rate. Whether gains are short-term or long-term depends on a fund’s holding period. Some dividends paid in January may be taxable as if they had been paid the previous December.

Lifestyle Portfolios – Your account

The Form 1099 that is mailed to you every January, if applicable, details your dividends and their federal tax category, although you should verify your tax liability with your tax professional.

Disclosure of portfolio holdings

The fund’s policy regarding disclosure of fund holdings can be found in the SAI and fund holdings information can be found at www.jhfunds.com.

The holdings of each fund will be posted to the Web site listed above within 30 days after each calendar month end and within 30 days after any material changes are made to the holdings of the fund. The holdings of each fund are also disclosed quarterly to the SEC on Form N-Q as of the end of the first and third quarters of the fund’s fiscal year and on Form N-CSR as of the second and fourth quarters of the fund’s fiscal year. Each fund’s Form N-CSR and Form N-Q will contain the fund’s entire portfolio holdings as of the applicable calendar quarter end.

Lifestyle Portfolios – Your account

Lifestyle Aggressive Portfolio

Two documents are available with further information on the funds:

Annual/Semiannual report to shareholders

Includes financial statements, a discussion of the market conditions and investment strategies that significantly affected performance, as well as the auditors report (in annual report only).

Statement of Additional Information (SAI)

The SAI contains more detailed information on all aspects of the funds and includes a summary of the funds’ policy regarding disclosure of portfolio holdings, as well as legal and regulatory matters. A current SAI has been filed with the SEC and is incorporated by reference into (and is legally a part of) this prospectus.

To obtain a free copy of these documents

There are several ways you can get a current annual/semiannual report or SAI from John Hancock:

Online: www.jhfunds.com


By mail:	John Hancock Funds II 601 Congress Street Boston, MA 02210

By phone: 1-800-334-1029

You can also view or obtain copies of these documents through the SEC:

Online: www.sec.gov

By e-mail (duplicating fee required): publicinfo@sec.gov


By mail (duplicating fee required):	Public Reference Section Securities and Exchange Commission Washington, DC 20549-0102

In person: at the SEC’s Public Reference Room in Washington, DC. For access to the Reference Room call 1-202-551-8090.

John Hancock Funds, LLC

MEMBER FINRA

601 Congress Street

Boston, MA 02210-2805

www.jhfunds.com

Electronic delivery now available at

www.jhfunds.com/edelivery

Table of contents

Fund summaries

A concise look at each fund’s investment goal, its main strategies and main risks, its past performance and the costs of investing.


3		Lifestyle Aggressive Portfolio

5		Lifestyle Growth Portfolio

7		Lifestyle Balanced Portfolio

9		Lifestyle Moderate Portfolio

11		Lifestyle Conservative Portfolio

Fund details

More about topics covered in the summary section, including descriptions of the various risk factors that investors should understand before investing.


13		Other permitted investments

13		Risks of investing in the fund of funds

14		Risks of investing in the underlying funds

15		Who’s who

17		Financial highlights

32		Underlying fund information

Your account

How to place an order to buy, sell or exchange fund shares, as well as information about each fund’s business policies and any distributions it may pay.


35		Who can buy shares

35		Class cost structure

36		Opening an account

36		Information for plan participants

36		Transaction policies

38		Dividends and account policies

38		Additional investor services

39		Appendix

		For more information See back cover

Lifestyle Portfolios Overview

There are five funds: Aggressive, Growth, Balanced, Moderate and Conservative. Each fund is a “fund of funds” that invests in a number of underlying funds.

Target allocation among underlying funds (%)


		Equity		Fixed-income
Portfolio	Investment Objective	funds		funds


Lifestyle Aggressive	Long-term growth of capital. Current income is not a consideration.		100		—

Lifestyle Growth	Long-term growth of capital. Current income is also a consideration.		80		20

Lifestyle Balanced	A balance between a high level of current income and growth of capital, with a greater emphasis on growth of capital.		60		40

Lifestyle Moderate	A balance between a high level of current income and growth of capital, with a greater emphasis on income.		40		60

Lifestyle Conservative	A high level of current income, with some consideration given to growth of capital.		20		80

Each fund is monitored daily. To maintain target allocations in the underlying funds, daily cash flows for each fund will be directed to its underlying funds that most deviate from target. Quarterly, the subadviser may also rebalance each fund’s investment allocation to maintain its target allocations. The subadviser may from time to time adjust the percentage of assets invested in any specific underlying funds held by a fund. Such adjustments may be made to increase or decrease a fund’s holdings of particular asset classes, such as common stocks of foreign issuers, or to adjust fund quality or the duration of fixed-income securities. Adjustments may also be made to increase or reduce the percent of the fund’s assets subject to the management of a particular underlying fund’s subadviser. In addition, changes may be made to reflect fundamental changes in the investment environment.

Fund summary

John Hancock

Day-to-day investment management: MFC Global Investment Management (U.S.A.) Limited

Class / Ticker R / JNLAX R1 / JPLAX R2 / JQLAX R3 / JRLAX R4 / JSLAX R5 / JTLAX

Goal and strategy

The fund seeks long-term growth of capital. Current income is not a consideration.

To pursue this goal, the fund, which is a fund of funds, normally invests approximately 100% of its assets in underlying funds that invest primarily in equity securities.

Variations in the target percentage allocation between underlying funds that invest primarily in equity securities, and underlying funds that invest primarily in fixed-income securities, are permitted up to 10%. Thus, based on its target percentage allocation of approximately 100% of assets in equity underlying funds, the fund may have an equity/fixed-income underlying fund allocation of 90%/10%. Although variations beyond the 10% range are generally not permitted, the subadviser may determine in light of market or economic conditions that the normal percentage limitations should be exceeded to protect the fund or to achieve its goal.

Main risks

Equity securities risk The value of a company’s equity securities is subject to changes in the company’s financial condition and overall market and economic conditions.

Exchange traded funds risk Owning an ETF generally reflects the risks of owning underlying securities it is designed to track.

Fund of funds risk The fund is subject to the performance of the underlying funds in which it invests.

Investment company securities risk The fund bears its own expenses and indirectly bears its proportionate share of expenses of the underlying funds in which it invests.

Management risk The fund team’s investment strategy may fail to produce the intended result.

Lifestyle Aggressive Portfolio – Fund summary

Past performance

Calendar year total returns – Class R3 (%)

Best quarter: Q4 ’06, 8.13 Worst quarter: Q4 ’07, –2.78

2006

2007

14.92

7.85

[BAR CHART]


Average annual total returns (%)	1 Year		Inception

as of 12-31-07				10-17-05		9-18-06

Class R before tax		7.48		—		13.20

After tax on distributions		6.28		—		11.00

After tax on distributions, with sale		5.10		—		10.04

Class R1 before tax		7.92		—		13.58

Class R2 before tax		8.13		—		13.85

Class R3 before tax		7.85		13.36		—

Class R4 before tax		8.13		13.61		—

Class R5 before tax		8.42		13.89		—

Standard & Poor’s 500 Index		5.49		12.11		10.65

MSCI EAFE Gross Total Return Index		11.62		21.27	¹	18.16	¹

Calendar year total returns

These do not include sales charges. They are shown only for Class R3 and would be different for other classes. These represent how a fund’s returns vary from year to year and can give an idea of its risk; however, as always, past performance (before and after taxes) does not indicate future results. All figures assume dividend reinvestment.

Average annual total returns

Performance of broad-based indexes is included for comparison. Indexes have no sales charges and you cannot invest in them directly.

After-tax returns These are shown for Class R. They reflect the highest individual federal marginal income tax rates in effect at the time, and do not reflect any state or local taxes. Your actual after-tax returns may be different. After-tax returns are not relevant to shares held in an IRA, 401(k) or other tax-advantaged investment plan.

Standard & Poor’s 500 Index is an unmanaged index that includes 500 widely traded common stocks.

MSCI EAFE Gross Total Return Index (Europe, Australia, Far East) is a free float-adjusted market capitalization index that is designed to measure developed market equity performance, excluding U.S. and Canada.


1		Index figure as of closest month end to inception date.

Investor costs


Annual operating expenses (%)	Class R		Class R1		Class R2		Class R3		Class R4		Class R5

Management fee²		0.04		0.04		0.04		0.04		0.04		0.04

Distribution and service (12b-1) fees		0.75		0.50		0.25		0.50		0.25		None

Service fee³		0.13		0.01		0.06		0.10		0.05		0.03

Other expenses		2.74		2.99		2.27		0.57		0.62		1.04

Acquired fund fees and expenses		0.93		0.93		0.93		0.93		0.93		0.93

Total fund operating expenses⁴		4.59		4.47		3.55		2.14		1.89		2.04

Contractual expense reimbursement (until at least 5-1-09)⁵		–2.58		–2.82		–2.10		–0.40		–0.42		–0.88

Net fund operating expenses		2.01		1.65		1.45		1.74		1.47		1.16

Expense example


Expenses ($)	Class R		Class R1		Class R2		Class R3		Class R4		Class R5

1 Year		204		168		148		177		150		118

3 Years		1,153		1,097		893		632		553		555

5 Years		2,110		2,035		1,661		1,113		982		1,017

10 Years		4,538		4,426		3,680		2,441		2,177		2,299

Annual operating expenses

These are paid from fund assets; shareholders therefore pay these costs indirectly. The fund has no shareholder transaction expenses.


2		The adviser intends to waive its advisory fee or reimburse the fund in an amount such that, with respect to such other assets, the sum of (i) the advisory fee paid by the fund to the adviser and (ii) the advisory fee paid by the underlying fund to and retained (after payment of any subadvisory fee) by the adviser or its affiliate, does not exceed an annual rate of 0.50%. See “Fund details — Management fees” for further information.

3		Service plan fees are paid by the fund to the adviser under an agreement pursuant to which the adviser will provide, either directly or through third parties, various administrative, recordkeeping, communication and educational services for retirement plans that are shareholders of the class.

4		The Total fund operating expenses include fees and expenses incurred indirectly by the fund as a result of its investment in other investment companies (e.g., underlying funds) (each, an Acquired fund). The Total fund annual expenses shown may not correlate to the fund’s ratio of expenses to average net assets shown in the Financial highlights section, which does not include Acquired Fund fees and expenses.

5		In the case of Class R, R1, R2, R3, R4 and R5 shares, the adviser has contractually agreed to waive advisory fees or reimburse fund expenses for each of these classes of shares to the extent that blue sky fees and printing and postage expenses attributable to each class exceed 0.09% of the average annual net assets attributable to the class. This agreement shall remain in effect until May 1, 2009.

Lifestyle Aggressive Portfolio – Fund summary

Fund summary

John Hancock

Day-to-day investment management: MFC Global Investment Management (U.S.A.) Limited

Class / Ticker R / JNLGX R1 / JPLGX R2 / JQLGX R3 / JRLGX R4 / JSLGX R5 / JTLGX

Goal and strategy

The fund seeks long-term growth of capital. Current income is also a consideration.

Variations in the target percentage allocation between underlying funds that invest primarily in equity securities, and underlying funds that invest primarily in fixed-income securities, are permitted up to 10% in either direction. Thus, based on its target percentage allocation of approximately 80% of assets in equity underlying funds and 20% in fixed-income underlying funds, the fund may have an equity/fixed-income underlying fund allocation of 90%/10% or 70%/30%. Although variations beyond the 10% range are generally not permitted, the subadviser may determine in light of market or economic conditions that the normal percentage limitations should be exceeded to protect the fund or to achieve its goal.

The fund may invest in various funds that as a group hold a wide range of equity type securities in their funds. These include small-, mid- and large-capitalization stocks; domestic and foreign securities (including emerging market securities); and sector holdings, such as utilities and science and technology stocks. In addition to investing in exchange traded funds (ETFs), the fund may also invest in the securities of other investment companies and may make direct investments in other types of investments. Each of the underlying funds has its own investment strategy which, for example, may focus on growth stocks or value stocks or may employ a strategy combining growth and income stocks and/or may invest in derivatives such as options on securities and futures contracts. Certain of the underlying funds in which the fund may invest focus their investment strategy on fixed-income securities, which may include investment grade and below investment grade debt securities with maturities that range from short to longer term. The fixed-income underlying fund, collectively hold various types of debt instruments, such as corporate bonds and mortgage-backed, government-issued, domestic and international securities.

Main risks

Equity securities risk The value of a company’s equity securities is subject to changes in the company’s financial condition and overall market and economic conditions.

Exchange traded funds risk Owning an ETF generally reflects the risks of owning the underlying securities it is designed to track.

Fund of funds risk The fund is subject to the performance of the underlying funds in which it invests.

Investment company securities risk The fund bears its own expenses and indirectly bears its proportionate share of expenses of the underlying funds in which it invests.

Management risk The fund team’s investment strategy may fail to produce the intended result.

Lifestyle Growth Portfolio – Fund summary

Past performance

Calendar year total returns – Class R3 (%)

Best quarter: Q4 ’06, 6.69 Worst quarter: Q2, 06, −2.17

2006

2007

12.87

6.69

[BAR CHART]


Average annual total returns (%)	1 Year		Inception

For period ended 12-31-07				10-17-05		9-18-06

Class R before tax		6.47		—		11.12

After tax on distributions		5.16		—		8.70

After tax on distributions, with sale		4.36		—		8.14

Class R1 before tax		6.75		—		11.43

Class R2 before tax		6.91		—		11.60

Class R3 before tax		6.69		11.34		—

Class R4 before tax		6.95		11.61		—

Class R5 before tax		7.31		11.93		—

80% Standard & Poor’s 500 Index/20% Lehman Brothers U.S. Aggregate Index		5.88		10.48	¹	9.32	¹

Calendar year total returns

These do not include sales charges, and would have been lower if they did. They are shown only for Class R3 and would be different for other classes. These represent how a fund’s returns vary from year to year and can give an idea of its risk; however, as always, past performance (before and after taxes) does not indicate future results. All figures assume dividend reinvestment.

Average annual total returns

Performance of a broad-based index is included for comparison. Indexes have no sales charges and you cannot invest in them directly. All figures assume dividend reinvestment.

After-tax returns These are shown for Class R. They reflect the highest individual federal marginal income tax rates in effect at the time and do not reflect any state or local taxes. Your actual after-tax returns may be different. After-tax returns are not relevant to shares held in an IRA, 401(k) or other tax-advantaged investment plan.

Standard & Poor’s 500 Index is an unmanaged index that includes 500 widely traded common stocks.

Lehman Brothers U.S. Aggregate Index is an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.


1		Index figure as of closest month end to inception date.

Investor costs


Annual operating expenses (%)	Class R		Class R1		Class R2		Class R3		Class R4		Class R5

Management fee²		0.04		0.04		0.04		0.04		0.04		0.04

Distribution and service (12b-1) fees		0.75		0.50		0.75		0.50		0.25		None

Service fee³		0.11		0.03		0.17		0.10		0.03		0.01

Other expenses		4.37		1.85		2.72		0.34		0.32		0.49

Acquired fund fees and expenses		0.88		0.88		0.88		0.88		0.88		0.88

Total fund operating expenses⁴		6.15		3.30		4.06		1.86		1.52		1.42

Contractual expense reimbursement (until at least 5-1-09)⁵		–4.21		–1.69		–2.56		–0.18		–0.11		–0.33

Net fund operating expenses		1.94		1.61		1.50		1.68		1.41		1.09

Expense example


Expenses ($)	Class R		Class R1		Class R2		Class R3		Class R4		Class R5

1 Year		197		164		153		171		144		111

3 Years		1,450		858		1,001		567		470		417

5 Years		2,675		1,576		1,865		989		819		745

10 Years		5,615		3,480		4,098		2,165		1,803		1,673

Annual operating expenses

These are paid from fund assets; shareholders, therefore, pay these costs indirectly.


2		The adviser intends to waive its advisory fee or reimburse the fund in an amount such that, with respect to such other assets, the sum of (i) the advisory fee paid by the fund to the adviser and (ii) the advisory fee paid by the underlying fund to and retained (after payment of any subadvisory fee) by the adviser or its affiliate, does not exceed an annual rate of 0.50%. See “Fund details — Management fees” for further information.

3		Service plan fees are paid by the fund to the adviser under an agreement pursuant to which the adviser will provide, either directly or through third parties, various administrative, recordkeeping, communication and educational services for retirement plans that are shareholders of the class.

4		The Total fund operating expenses include fees and expenses incurred indirectly by the fund as a result of its investment in other investment companies (e.g., underlying funds) (each, an Acquired fund). The Total fund annual expenses shown may not correlate to the fund’s ratio of expenses to average net assets shown in the Financial highlights section, which does not include Acquired Fund fees and expenses.

5		In the case of Class R, R1, R2, R3, R4 and R5 shares, the adviser has contractually agreed to waive advisory fees or reimburse fund expenses for each of these classes of shares to the extent that blue sky fees and printing and postage expenses attributable to each class exceed 0.09% of the average annual net assets attributable to the class. This agreement shall remain in effect until May 1, 2009.

Lifestyle Growth Portfolio – Fund summary

Fund summary

John Hancock

Day-to-day investment management: MFC Global Investment Management (U.S.A.) Limited

Class / Ticker R / JNLBX R1 / JPLBX R2 / JQLBX R3 / JRLBX R4 / JSLBX R5 / JTSBX

Goal and strategy

The fund seeks a balance between a high level of current income and growth of capital, with a greater emphasis on growth of capital.

To pursue this goal, the fund, which is a fund of funds, normally invests approximately 60% of its assets in underlying funds that invest primarily in equity securities and approximately 40% in underlying funds that invest primarily in fixed-income securities.

Variations in the target percentage allocation between underlying funds that invest primarily in equity securities, and underlying funds that invest primarily in fixed-income securities, are permitted up to 10% in either direction. Thus, based on its target percentage allocation of approximately 60% of assets in equity underlying funds and 40% in fixed-income underlying funds, the fund may have an equity/fixed-income underlying funds allocation of 70%/30% or 50%/50%. Although variations beyond the 10% range are generally not permitted, the subadviser may determine in light of market or economic conditions that the normal percentage limitations should be exceeded to protect the fund or to achieve its goal.

Within the prescribed percentage allocation, the subadviser selects the percentage level to be maintained in specific underlying funds. The assets of the fund are rebalanced quarterly to maintain the selected percentage level. The subadviser may from time to time adjust the percentage of assets invested in any specific underlying funds to increase or decrease the fund’s holdings of particular assets classes, such as common stocks of foreign issuers, to adjust fund quality or the duration of fixed-income securities, to increase or reduce the percentage of the fund’s assets subject to the management of a particular subadviser or to reflect fundamental changes in the investment environment.

The fund may invest in various underlying funds that as a group hold a wide range of equity type securities in their funds. These include small-, mid- and large-capitalization stocks; domestic and foreign securities (including emerging market securities); and sector holdings, such as utilities and science and technology stocks. In addition to investing in exchange traded funds (ETFs), the fund may also invest in the securities of other investment companies and may make direct investments in other types of investments. Each of the underlying funds has its own investment strategy which, for example, may focus on growth stocks or value stocks or may employ a strategy combining growth and income stocks and/or may invest in derivatives such as options on securities and futures contracts. Certain of the underlying funds in which the fund invests focus their investment strategy on fixed-income securities, which may include investment grade and below investment grade debt securities with maturities that range from short to longer term. The fixed-income underlying funds collectively hold various types of debt instruments, such as corporate bonds and mortgage-backed, government-issued, domestic and international securities.

Main risks

Exchange traded funds risk Owning an ETF generally reflects the risks of owning the underlying securities it is designed to track.

Fund of funds risk The fund is subject to the performance of the underlying funds in which it invests.

Investment company securities risk The fund bears its own expenses and indirectly bears its proportionate share of expenses of the underlying funds in which it invests.

Management risk The fund team’s investment strategy may fail to produce the intended result.

Lifestyle Balanced Portfolio – Fund summary

Past performance

Calendar year total returns – Class R3 (%)

Best quarter: Q4 ’06, 5.90 Worst quarter: Q2 ’06, −1.67

2006

2007

12.10

5.65

[BAR CHART]


Average annual total returns (%)	1 Year		Inception

For period ended 12-31-07				10-17-05	9-18-06

Class R before tax		5.31		—	9.51

After tax on distributions		3.91		—	7.12

After tax on distributions, with sale		3.54		—	6.76

Class R1 before tax		5.58		—	9.77

Class R2 before tax		5.77		—	9.97

Class R3 before tax		5.65		10.00	—

Class R4 before tax		5.91		10.27	—

Class R5 before tax		6.18		10.55	—

60% Standard & Poor’s 500 Index/40% Lehman Brothers U.S. Aggregate Index		6.22		9.36	8.69¹

Calendar year total returns

Average annual total returns

Performance of broad-based indexes is included for comparison. Indexes have no sales charges and you cannot invest in them directly.

Standard & Poor’s 500 Index is an unmanaged index that includes 500 widely traded common stocks.

Lehman Brothers U.S. Aggregate Index is an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.


1		Index figure as of closest month end to inception date.

Investor costs


Annual operating
expenses (%)	Class R		Class R1		Class R2		Class R3		Class R4		Class R5

Management fee²		0.04		0.04		0.04		0.04		0.04		0.04

Distribution and service (12b-1) fees		0.75		0.50		0.25		0.50		0.25		None

Service fee³		0.12		0.08		0.11		0.06		0.03		0.00

Other expenses		3.58		6.73		2.44		0.25		0.26		0.39

Acquired fund fees and expenses		0.86		0.86		0.86		0.86		0.86		0.86

Total fund operating expenses⁴		5.35		8.21		3.70		1.71		1.44		1.29

Contractual expense reimbursement (until at least 5-1-09)⁵		–3.42		–6.57		–2.28		–0.09		–0.07		–0.22

Net fund operating expenses		1.93		1.64		1.42		1.62		1.37		1.07

Expense example


Expenses ($)	Class R		Class R1		Class R2		Class R3		Class R4		Class R5

1 Year		196		167		145		165		139		109

3 Years		1,295		1,810		921		530		449		387

5 Years		2,386		3,349		1,718		920		780		686

10 Years		5,081		6,785		3,802		2,012		1,718		1,537

Annual operating expenses

These are paid from fund assets; shareholders therefore pay these costs indirectly. The fund has no shareholder transaction expenses.


2		The adviser intends to waive its advisory fee or reimburse the fund in an amount such that, with respect to such other assets, the sum of (i) the advisory fee paid by the fund to the adviser and (ii) the advisory fee paid by the underlying fund to and retained (after payment of any subadvisory fee) by the adviser or its affiliate, does not exceed an annual rate of 0.50%. See “Fund details — Management fees” for further information.

3		Service plan fees are paid by the fund to the adviser under an agreement pursuant to which the adviser will provide, either directly or through third parties, various administrative, recordkeeping, communication and educational services for retirement plans that are shareholders of the class.

4		The Total fund operating expenses include fees and expenses incurred indirectly by the fund as a result of its investment in other investment companies (e.g., underlying funds) (each, an Acquired fund). The Total fund annual expenses shown may not correlate to the fund’s ratio of expenses to average net assets shown in the Financial highlights section, which does not include Acquired Fund fees and expenses.

5		In the case of Class R, R1, R2, R3, R4 and R5 shares, the adviser has contractually agreed to waive advisory fees or reimburse fund expenses for each of these classes of shares to the extent that blue sky fees and printing and postage expenses attributable to each class exceed 0.09% of the average annual net assets attributable to the class. This agreement shall remain in effect until May 1, 2009.

Lifestyle Balanced Portfolio – Fund summary

Fund summary

John Hancock

Lifestyle Conservative Portfolio

Day-to-day investment management: MFC Global Investment Management (U.S.A.) Limited

Class / Ticker R / JNLMX R1 / JPLMX R2 / JQLMX R3 / JRLMX R4 / JSLMX R5 / JTLMX

Goal and strategy

The fund seeks a balance between a high level of current income and growth of capital, with a greater emphasis on income.

Variations in the target percentage allocation between underlying funds that invest primarily in equity securities and underlying funds that invest primarily in fixed-income securities are permitted up to 10% in either direction. Thus, based on its target percentage allocation of approximately 40% of assets in equity underlying funds and 60% in fixed-income underlying funds, the fund may have an equity/fixed-income underlying fund allocation of 50%/50% or 30%/70%. Although variations beyond the 10% range are generally not permitted, the subadviser may determine in light of market or economic conditions that the normal percentage limitations should be exceeded to protect the fund or to achieve its goal.

Within the prescribed percentage allocation, the subadviser selects the percentage level to be maintained in specific underlying funds. The assets of the fund are rebalanced quarterly to maintain the selected percentage level. The subadviser may from time to time adjust the percentage of assets invested in any specific underlying funds to increase or decrease the fund’s holdings of particular assets classes, such as common stocks of foreign issuers, to adjust fund quality or the duration of fixed-income securities, to increase or reduce the percentage of the fund’s assets subject to the management of a particular subadviser or to reflect fundamental changes in the investment environment.

The fund may invest in various underlying funds that as a group hold a wide range of equity type securities in their funds. These include small-, mid- and large-capitalization stocks; domestic and foreign securities (including emerging market securities); and sector holdings, such as utilities and science and technology stocks. In addition to investing in exchange traded funds (ETFs), the fund may also invest in the securities of other investment companies and may make direct investments in other types of investments. Each of the underlying funds has its own investment strategy which, for example, may focus on growth stocks or value stocks or may employ a strategy combining growth and income stocks and/or may invest in derivatives such as options on securities and futures contracts. Certain of the underlying funds in which the fund invests focus their investment strategy on fixed-income securities, which may include investment grade and below investment grade debt securities with maturities that range from short to longer term. The fixed-income underlying funds collectively hold various types of debt instruments, such as corporate bonds and mortgage-backed, government-issued, domestic and international securities.

Main risks

Equity securities risk The value of a company’s equity securities is subject to changes in the company’s financial condition and overall market and economic conditions.

Exchange traded funds risk Owning an ETF generally reflects the risks of owning the underlying securities it is designed to track.

Fund of funds risk The fund is subject to the performance of the underlying funds in which it invests.

Investment company securities risk The fund bears its own expenses and indirectly bears its proportionate share of expenses of the underlying funds in which it invests.

Management risk The fund team’s investment strategy may fail to produce the intended result.

Lifestyle Moderate Portfolio – Fund summary

Past performance

Calendar year total returns – Class R3 (%)

Best quarter: Q4 ’06, 4.59 Worst quarter: Q2 ’06, –1.03

2006

2007

9.74

4.61

[BAR CHART]


Average annual total returns (%)	1 Year		Inception

For period ended 12-31-07				10-17-05	9-18-06

Class R before tax		4.28		—	7.56

After tax on distributions		2.91		—	5.36

After tax on distributions, with sale		2.84		—	5.19

Class R1 before tax		4.63		—	7.89

Class R2 before tax		4.89		—	8.13

Class R3 before tax		4.61		7.95	—

Class R4 before tax		4.87		8.15	—

Class R5 before tax		5.15		8.47	—

40% Standard & Poor’s 500 Index/60% Lehman Brothers U.S. Aggregate Index		6.52		8.22¹	8.02¹

Calendar year total returns

Average annual total returns

Performance of broad-based indexes is included for comparison. Indexes have no sales charges and you cannot invest in them directly.

Standard & Poor’s 500 Index is an unmanaged index that includes 500 widely traded common stocks.

Lehman Brothers U.S. Aggregate Index is an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.


1		Index figure as of closest month end to inception date.

Investor costs


Annual operating
expenses (%)	Class R		Class R1		Class R2		Class R3		Class R4		Class R5

Management fee²		0.04		0.04		0.04		0.04		0.04		0.04

Distribution and service (12b-1) fees		0.75		0.50		0.25		0.50		0.25		None

Service fees³		0.11		0.01		0.00		0.12		0.05		0.00

Other expenses		5.42		3.55		18.83		0.85		0.79		0.93

Acquired fund fees and expenses		0.83		0.83		0.83		0.83		0.83		0.83

Total fund operating expenses⁴		7.15		4.93		19.95		2.34		1.96		1.80

Contractual expense reimbursement (until at least 5-1-09)⁵		–5.26		–3.39		–18.67		–0.68		–0.59		–0.76

Net fund operating expenses		1.89		1.54		1.28		1.66		1.37		1.04

Expense example


Expenses ($)	Class R		Class R1		Class R2		Class R3		Class R4		Class R5

1 Year		192		157		130		169		139		106

3 Years		1,635		1,177		3,673		665		558		492

5 Years		3,016		2,208		6,236		1,189		1,003		904

10 Years		6,219		4,762		9,955		2,624		2,238		2,053

Annual operating expenses

These are paid from fund assets; shareholders therefore pay these costs indirectly. The fund has no shareholder transaction expenses.


2		The adviser intends to waive its advisory fee or reimburse the fund in an amount such that, with respect to such other assets, the sum of (i) the advisory fee paid by the fund to the adviser and (ii) the advisory fee paid by the underlying fund to and retained (after payment of any subadvisory fee) by the adviser or its affiliate, does not exceed an annual rate of 0.50%. See “Fund details — Management fees” for further information.

3		Service plan fees are paid by the fund to the adviser under an agreement pursuant to which the adviser will provide, either directly or through third parties, various administrative, recordkeeping, communication and educational services for retirement plans that are shareholders of the class.

4		The Total fund operating expenses include fees and expenses incurred indirectly by the fund as a result of its investment in other investment companies (e.g., underlying funds) (each, an Acquired fund). The Total fund annual expenses shown may not correlate to the fund’s ratio of expenses to average net assets shown in the Financial highlights section, which does not include Acquired Fund fees and expenses.

5		In the case of Class R, R1, R2, R3, R4 and R5 shares, the adviser has contractually agreed to waive advisory fees or reimburse fund expenses for each of these classes of shares to the extent that blue sky fees and printing and postage expenses attributable to each class exceed 0.09% of the average annual net assets attributable to the class. This agreement shall remain in effect until May 1, 2009.

Lifestyle Moderate Portfolio – Fund summary

Fund summary

John Hancock

Day-to-day investment management: MFC Global Investment Management (U.S.A.) Limited

Class / Ticker R / JNLCX R1 / JPLCX R2 / JQLCX R3 / JRLCX R4 / JSLCX R5 / JTLRX

Goal and strategy

The fund seeks a high level of current income, with some
consideration given to growth of capital.

To pursue this goal, the fund, which is a fund of funds, normally invests approximately 20% of its assets in underlying funds that invest primarily in equity securities, and approximately 80% in underlying funds that invest primarily in fixed-income securities.

Variations in the target percentage allocation between underlying funds that invest primarily in equity securities, and underlying funds that invest primarily in fixed-income securities, are permitted up to 10% in either direction. Thus, based on its investment allocation of approximately 20% of assets in equity underlying funds and 80% in fixed-income underlying funds, the fund may have an equity/fixed-income underlying fund allocation of 30%/70% or 10%/90%. Although variations beyond the 10% range are generally not permitted, the subadviser may determine in light of market or economic conditions that the normal percentage limitations should be exceeded to protect the fund or to achieve its goal.

Within the prescribed percentage allocation, the subadviser selects the percentage level to be maintained in specific underlying funds. The assets of the fund are rebalanced quarterly to maintain the selected percentage level. The subadviser may from time to time adjust the percentage of assets invested in any specific underlying funds to increase or decrease the fund’s holdings of particular assets classes, such as common stocks of foreign issuers, to adjust fund quality or the duration of fixed-income securities, to increase or reduce the percentage of the fund’s assets subject to the management of a particular subadviser or to reflect fundamental changes in the investment environment.

The fund may invest in various underlying funds that as a group hold a wide range of equity type securities in their funds. These include small-, mid- and large-capitalization stocks; domestic and foreign securities (including emerging market securities); and sector holdings such as utilities and science and technology stocks. In addition to investing in exchange traded funds (ETFs), the fund may also invest in the securities of other investment companies and may make direct investments in other types of investments. Each of the underlying funds has its own investment strategy which, for example, may focus on growth stocks or value stocks or may employ a strategy combining growth and income stocks and/or may invest in derivatives, such as options on securities and futures contracts. Certain of the underlying funds in which the fund invests focus their investment strategy on fixed-income securities, which may include investment grade and below investment grade debt securities with maturities that range from short to longer term. The fixed-income underlying funds collectively hold various types of debt instruments, such as corporate bonds and mortgage-backed, government-issued, domestic and international securities.

Main risks

Equity securities risk The value of a company’s equity securities is subject to changes in the company’s financial condition and overall market and economic conditions.

Exchange traded funds risk Owning an ETF generally reflects the risks of owning the underlying securities it is designed to track.

Fund of funds risk The fund is subject to the performance of the underlying funds in which it invests.

Investment company securities risk The fund bears its own expenses and indirectly bears its proportionate share of expenses of the underlying funds in which it invests.

Management risk The fund team’s investment strategy may fail to produce the intended result.

Lifestyle Conservative Portfolio – Fund summary

Past performance

Calendar year total returns – Class R3 (%)

Best quarter: Q3 ’06, 3.61 Worst quarter: Q2 ’06, −0.44

2006

2007

7.70

4.81

[BAR CHART]


Average annual total returns (%)	1 Year		Inception

For period ended 12-31-07				10-17-05	9-18-06

Class R before tax		4.49		—	6.48

Class R after tax on distributions		3.01		—	4.26

Class R after tax on distributions, with sale		2.93		—	4.24

Class R1 before tax		4.83		—	6.79

Class R2 before tax		4.93		—	6.98

Class R3 before tax		4.81		6.53	—

Class R4 before tax		4.97		6.71	—

Class R5 before tax		5.27		7.04	—

20% Standard & Poor’s 500 Index/80% Lehman Brothers U.S. Aggregate Index		6.77		7.06¹	7.31¹

Calendar year total returns

Average annual total returns

Performance of broad-based indexes is included for comparison. Indexes have no sales charges and you cannot invest in them directly.

Standard & Poor’s 500 Index is an unmanaged index that includes 500 widely traded common stocks.

Lehman Brothers U.S. Aggregate Index is an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.


1		Index figure as of closest month end to inception date.

Investor costs


Annual operating expenses (%)	Class R		Class R1		Class R2		Class R3		Class R4		Class R5

Management fee²		0.04		0.04		0.04		0.04		0.04		0.04

Distribution and service (12b-1) fees		0.75		0.50		0.25		0.50		0.25		None

Service fee³		0.06		0.00		0.08		0.11		0.06		0.01

Other expenses		12.99		9.15		7.22		1.24		1.11		3.37

Acquired fund fees and expenses		0.80		0.80		0.80		0.80		0.80		0.80

Total fund operating expenses⁴		14.64		10.49		8.39		2.69		2.26		4.22

Contractual expense reimbursement (until at least 5-1-09)⁵		–12.83		–8.98		–7.06		–1.08		–0.93		–3.20

Net fund operating expenses		1.81		1.51		1.33		1.61		1.33		1.02

Expense example


Expenses ($)	Class R		Class R1		Class R2		Class R3		Class R4		Class R5

1 Year		184		154		135		164		135		104

3 Years		2,921		2,207		1,817		733		617		988

5 Years		5,156		4,042		3,386		1,329		1,125		1,887

10 Years		9,110		7,816		6,866		2,943		2,523		4,195

Annual operating expenses

These are paid from fund assets; shareholders therefore pay these costs indirectly. The fund has no shareholder transaction expenses.


2		The adviser intends to waive its advisory fee or reimburse the fund in an amount such that, with respect to such other assets, the sum of (i) the advisory fee paid by the fund to the adviser and (ii) the advisory fee paid by the underlying fund to and retained (after payment of any subadvisory fee) by the adviser or its affiliate, does not exceed an annual rate of 0.50%. See “Fund details — Management fees” for further information.

3		Service plan fees are paid by the fund to the adviser under an agreement pursuant to which the adviser will provide, either directly or through third parties, various administrative, recordkeeping, communication and educational services for retirement plans that are shareholders of the class.

4		The Total fund operating expenses include fees and expenses incurred indirectly by the fund as a result of its investment in other investment companies (e.g., underlying funds) (each, an Acquired fund). The Total fund annual expenses shown may not correlate to the fund’s ratio of expenses to average net assets shown in the Financial highlights section, which does not include Acquired Fund fees and expenses.

5		In the case of Class R, R1, R2, R3, R4 and R5 shares, the adviser has contractually agreed to waive advisory fees or reimburse fund expenses for each of these classes of shares to the extent that blue sky fees and printing and postage expenses attributable to each class exceed 0.09% of the average annual net assets attributable to the class. This agreement shall remain in effect until May 1, 2009.

Lifestyle Conservative Portfolio – Fund summary

Fund details

Risks of investing in the fund of funds

The fund may directly:


•	Purchase U.S. government securities and short-term paper.

•	Purchase shares of other registered open-end investment companies (and registered unit investment trusts) within the same “group of investment companies” as that term is defined in Section 12 of the Investment Company Act of 1940 (1940 Act).

•	Purchase shares of other registered open-end investment companies (and registered unit investment trusts) where the adviser is not the same as, or affiliated with, the adviser to the fund, including ETFs.

•	The fund also may purchase and sell commodities and may enter into swap contracts and other commodity-linked derivative instruments including those linked to physical commodities. Please refer to “hedging derivatives and other strategic transactions risks” in both the prospectus and the Statement of Additional Information (SAI).

•	Invest in equity securities, which may include common and preferred stocks of large-, medium- and small-capitalization companies in both developed (including the U.S.) and emerging markets.

•	Invest in fixed-income securities, which may include debt securities of governments throughout the world (including the U.S.), their agencies and instrumentalities, debt securities of corporations and supranationals, inflation protected securities, convertible bonds, mortgage-backed securities, asset-backed securities and collateralized debt securities. Investments in fixed-income securities may include securities of issuers in both developed (including the U.S.) and emerging markets and may include fixed-income securities rated below investment grade.

•	Purchase securities of registered closed-end investment companies that are part of the same “group of investment companies” as that term is defined in Section 12 of the 1940 Act.

•	Invest up to 15% of its net assets in illiquid securities of such entities as limited partnerships and other pooled investment vehicles, such as hedge funds.

•	Make short sales of securities (borrow and sell securities not owned by the fund), either to realize appreciation when a security that the fund does not own declines in value or as a hedge against potential declines in the value of a fund security.

•	Invest in publicly traded partnerships, including publicly traded partnerships that invest principally in commodities or commodities-linked derivatives.

Because of uncertainties under federal tax laws as to whether income from commodity-linked derivative instruments would constitute “qualifying income” to a regulated investment company, the fund is not permitted to invest in such instruments unless the subadviser obtains prior written approval from the fund’s Chief Compliance Officer. See “additional information concerning taxes” in the SAI.

Asset allocation management

Temporary defensive investing

The fund may invest up to 100% of its assets in cash or money market instruments for the purpose of:


•	meeting redemption requests,

•	making other anticipated cash payments, or

•	protecting the fund in the event the subadviser determines that market or economic conditions warrant a defensive posture.

To the extent the fund is in a defensive position, its ability to achieve its investment goal will be limited.

Exchange traded funds (ETFs) risk

Fund of funds risk

A fund’s ability to achieve its investment goal will depend largely on the ability of the subadviser to select the appropriate mix of underlying funds. In addition, achieving a fund’s objective will depend on the performance of the underlying funds which depends on the underlying funds’ ability to meet their investment objectives. There can be no assurance that either the fund or the underlying funds will achieve their investment objective.

Investment company securities risk

The funds bear their own expenses and indirectly bear their proportionate share of expenses of the underlying funds in which they invest.

Lifestyle Portfolios – Fund details

Equity securities risk

Value investing risk Certain equity securities (generally referred to as value securities) are purchased primarily because they are selling at prices below what a subadviser believes to be their fundamental value and not necessarily because the issuing companies are expected to experience significant earnings growth. The funds bear the risk that the companies that issued these securities may not overcome the adverse business developments or other factors causing their securities to be perceived by the subadvisers to be underpriced or that the market may never come to recognize their fundamental value. A value stock may not increase in price, as anticipated by the subadviser investing in such securities, if other investors fail to recognize the company’s value and bid up the price or invest in markets favoring faster growing companies. A fund’s strategy of investing in value stocks also carries the risk that in certain markets value stocks will underperform growth stocks.

Growth investing risk Certain equity securities (generally referred to as growth securities) are purchased primarily because a subadviser believes that these securities will experience relatively rapid earnings growth. Growth securities typically trade at higher multiples of current earnings than other securities. Growth securities are often more sensitive to market fluctuations than other securities because their market prices are highly sensitive to future earnings expectations. At times when it appears that these expectations may not be met, growth stock prices typically fall.

Fixed-income securities risk

Fixed income securities are generally subject to two principal types of risks: (a) interest rate risk and (b) credit quality risk.

Interest rate risk Fixed-income securities are affected by changes in interest rates. When interest rates decline, the market value of the fixed income securities generally can be expected to rise. Conversely, when interest rates rise, the market value of fixed income securities generally can be expected to decline. The longer the duration or maturity of a fixed-income security, the more susceptible it is to interest rate risk.

Credit quality risk Fixed-income securities are subject to the risk that the issuer of the security will not repay all or a portion of the principal borrowed and will not make all interest payments. If the credit quality of a fixed income security deteriorates after a fund has purchased the security, the market value of the security may decrease and lead to a decrease in the value of the fund’s investments. Funds that may invest in lower rated fixed income securities commonly referred to as “junk” securities are riskier than funds that may invest in higher rated fixed income securities. Additional information on the risks of investing in investment grade fixed income securities in the lowest rating category and lower rated fixed-income securities is set forth below.

Risk to principal and income Investing in lower rated fixed income securities is considered speculative. While these securities generally provide greater income potential than investments in higher rated securities, there is a greater risk that principal and interest payments will not be made. Issuers of these securities may even go into default or become bankrupt.

Price volatility The price of lower rated fixed income securities may be more volatile than securities in the higher rating categories. This volatility may increase during periods of economic uncertainty or change. The price of these securities is affected more than higher rated fixed income securities by the market’s perception of their credit quality, especially during times of adverse publicity. In the past, economic downturns or an increase in interest rates have, at times, caused more defaults by issuers of these securities and may do so in the future. Economic downturns and increases in interest rates have an even greater affect on highly leveraged issuers of these securities.

Liquidity The market for lower rated fixed income securities may have more limited trading than the market for investment grade fixed income securities. Therefore, it may be more difficult to sell these securities and these securities may have to be sold at prices below their market value in order to meet redemption requests or to respond to changes in market conditions.

Dependence on subadviser’s own credit analysis While the subadviser may rely on ratings by established credit rating agencies, it will also supplement such ratings with its own independent review of the credit quality of the issuer. Therefore, the assessment of the credit risk of lower rated fixed income securities is more dependent on the subadviser’s evaluation than the assessment of the credit risk of higher rated securities.

Lifestyle Portfolios – Fund details

Additional risks regarding lower rated corporate fixed income Securities Lower rated corporate debt securities (and comparable unrated securities) tend to be more sensitive to individual corporate developments and changes in economic conditions than higher-rated corporate fixed income securities. Issuers of lower rated corporate debt securities may also be highly leveraged, increasing the risk that principal and income will not be repaid.

Additional risks regarding lower rated foreign government Fixed income securities Lower rated foreign government fixed income securities are subject to the risks of investing in emerging market countries described under “Foreign securities risk.” In addition, the ability and willingness of a foreign government to make payments on debt when due may be affected by the prevailing economic and political conditions within the country. Emerging market countries may experience high inflation, interest rates and unemployment as well as exchange rate trade difficulties and political uncertainty or instability. These factors increase the risk that a foreign government will not make payments when due.

Foreign securities risk

Currency risk Currency risk is the risk that fluctuations in exchange rates may adversely affect the U.S. dollar value of a fund’s investments. Currency risk includes both the risk that currencies in which a fund’s investments are traded, or currencies in which a fund has taken an active investment position, will decline in value relative to the U.S. dollar and, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency being hedged. Currency rates in foreign countries may fluctuate significantly for a number of reasons, including the forces of supply and demand in the foreign exchange markets, actual or perceived changes in interest rates, and intervention (or the failure to intervene) by U.S. or foreign governments or central banks, or by currency controls or political developments in the U.S. or abroad. Certain funds may engage in proxy hedging of currencies by entering into derivative transactions with respect to a currency whose value is expected to correlate to the value of a currency the fund owns or wants to own. This presents the risk that the two currencies may not move in relation to one another as expected. In that case, the fund could lose money on its investment and also lose money on the position designed to act as a proxy hedge. Certain funds may also take active currency positions and may cross-hedge currency exposure represented by their securities into another foreign currency. This may result in a fund’s currency exposure being substantially different than that suggested by its securities investments. All funds with foreign currency holdings and/or that invest or trade in securities denominated in foreign currencies or related derivative instruments may be adversely affected by changes in foreign currency exchange rates. Derivative foreign currency transactions (such as futures, forwards and swaps) may also involve leveraging risk, in addition to currency risk. Leverage may disproportionately increase a fund’s portfolio losses and reduce opportunities for gain when interest rates, stock prices or currency rates are changing.

Management risk

These investment strategies and securities are described further in the SAI.

Below are the names of the various entities involved with the funds’ investment and business operations, along with brief descriptions of the role each entity performs.

Trustees

Investment adviser

Manages the funds’ business and investment activities.

John Hancock Investment Management Services, LLC
601 Congress Street
Boston, MA 02210-2805

Lifestyle Portfolios – Fund details

Management fees

The fund pays the adviser a management fee for its services to the fund. The management fee has two components: (a) a fee on assets invested in a fund of John Hancock Funds II (JHF II) or John Hancock Funds III (JHF III); and (b) a fee on assets invested in investments other than a fund of JHF II or JHF III (other assets).

Advisory fee on assets invested in a fund of JHF II or JHF III

The fee on other assets is stated as an annual percentage of the current value of the aggregate net assets of the fund, the four other Lifestyle funds, and of the five corresponding Lifestyle Trusts of JHT, (but only for the period during which the subadviser to the fund also serves as the subadviser for such other JHT and JHF II funds), determined in accordance with the following schedule.

Advisory fee on other assets

Lifestyle Aggressive Portfolio: 0.041%
Lifestyle Growth Portfolio: 0.041%
Lifestyle Balanced Portfolio: 0.041%
Lifestyle Moderate Portfolio: 0.041%
Lifestyle Conservative Portfolio: 0.041%

Out of these fees, the investment adviser in turn paid the fees of the subadviser and certain other service providers.

The basis for Trustees’ approval of the fees, and of the investment advisory agreement overall, including the subadvisory agreement, is discussed in the funds’ December 31, 2007 annual report and June 30, 2007 semiannual report.

Subadviser

Handles the funds’ day-to-day fund management.

MFC Global Investment Management (U.S.A.), Limited
200 Bloor Street East
Toronto, Ontario, Canada M4W 1E5


•	provides investment advisory services to individual and institutional investors and is a wholly owned subsidiary of Manulife Financial Corporation

•	as of December 31, 2007, it and its affiliates had total assets under management of approximately $217 billion

•	supervised by the adviser, John Hancock Investment Management Services, LLC

Subadviser consultant

Deutsche Investment Management Americas, Inc.
345 Park Avenue
New York, NY 10154


•	provides subadvisory consulting services to the subadviser in its management of the funds

•	provides investment advisory services to retail and institutional clients

•	is a wholly owned subsidiary of Deutsche Bank AG, an international commercial and investment banking group

Portfolio Managers

Steve Orlich


•	portfolio manager since inception

•	joined MFC Global Investment Management (U.S.A.) Limited in 1998

•	Vice president and senior portfolio manager, Asset Allocation Portfolios

Scott Warlow


•	portfolio manager since 2007

•	joined MFC Global Investment Management (U.S.A.) Limited in 2002

•	Assistant vice president and portfolio manager, Asset Allocation Portfolios

Custodian

Holds the funds’ assets, settles all fund trades and collects most of the valuation data required for calculating the funds’ net asset value (NAV).

State Street Bank & Trust Company
2 Avenue de Lafayette
Boston, MA 02111

Principal distributor

Markets the funds and distributes shares through selling brokers, financial planners and other financial representatives.

John Hancock Funds, LLC
601 Congress Street
Boston, MA 02210-2805

Transfer agent

Handles shareholder services, including recordkeeping and statements, distribution of dividends, and processing of buy and sell requests.

John Hancock Signature Services, Inc.
P.O. Box 9510
Portsmouth, NH 03802-9510

Lifestyle Portfolios – Fund details

Information for plan participants

Lifestyle Aggressive Class R Shares


Per share operating performance	period ended	12-31-06^5,10			12-31-07

Net asset value, beginning of period			$14.11			$14.79

Income (loss) from investment operations

Net investment income (loss)^1,2			0.13			0.11

Net realized and unrealized gain (loss) on investments			1.17			0.98

Total from investment operations			1.30			1.09

Less distributions

From net investment income			(0.33	)		(0.06	)

From net realized gain			(0.29	)		(0.54	)

From capital paid-in			—			—

Total distributions			(0.62	)		(0.60	)

Net asset value, end of period			$14.79			$15.28

Total return³ (%)			9.22	^6,7		7.48	⁶

Ratios and supplemental data

Net assets, end of period (in millions)			—	¹²		$1

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)			10.66	^8,9		3.66	⁸

Ratio of net expenses to average net assets⁴ (%)			0.95	⁹		1.08	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)			2.94	⁹		0.69

Portfolio turnover (%)			5	⁷		21


Class R1 Shares
Per share operating performance	period ended	12-31-06^5,10			12-31-07

Net asset value, beginning of period			$14.11			$14.76

Income (loss) from investment operations

Net investment income (loss)^1,2			0.08			0.15

Net realized and unrealized gain (loss) on investments			1.23			1.00

Total from investment operations			1.31			1.15

Less distributions

From net investment income			(0.37	)		(0.10	)

From net realized gain			(0.29	)		(0.54	)

From capital paid-in			—			—

Total distributions			(0.66	)		(0.64	)

Net asset value, end of period			$14.76			$15.27

Total return³ (%)			9.25	^6,7		7.92	⁶

Ratios and supplemental data

Net assets, end of period (in millions)			—	¹²		$1

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)			12.89	^8,9		3.54	⁸

Ratio of net expenses to average net assets⁴ (%)			0.70	⁹		0.72	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)			1.79	⁹		0.92

Portfolio turnover (%)			5	⁷		21

Lifestyle Portfolios – Fund details

Financial highlights, continued

Class R2 Shares


Per share operating performance	period ended			12-31-06^5,10			12-31-07

Net asset value, beginning of period					$14.11			$14.74

Income (loss) from investment operations

Net investment income (loss)^1,2					0.09			0.37

Net realized and unrealized gain (loss) on investments					1.23			0.81

Total from investment operations					1.32			1.18

Less distributions

From net investment income					(0.40	)		(0.14	)

From net realized gain					(0.29	)		(0.54	)

From capital paid-in					—			—

Total distributions					(0.69	)		(0.68	)

Net asset value, end of period					$14.74			$15.24

Total return³ (%)					9.37	^6,7		8.13	⁶

Ratios and supplemental data

Net assets, end of period (in millions)					$—	¹²		$3

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)					12.24	^8,9		2.62	⁸

Ratio of net expenses to average net assets⁴ (%)					0.45	⁹		0.52	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)					2.07	⁹		2.31

Portfolio turnover (%)					5	⁷		21


Class R3 Shares
Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$12.63			$14.06			$14.72

Income (loss) from investment operations

Net investment income (loss)^1,2		(0.05	)		0.08			0.11

Net realized and unrealized gain (loss) on investments		1.54			1.24			1.03

Total from investment operations		1.49			1.32			1.14

Less distributions

From net investment income		(0.06	)		(0.37	)		(0.10	)

From net realized gain		—			(0.29	)		(0.54	)

From capital paid-in		—			—			—

Total distributions		(0.06	)		(0.66	)		(0.64	)

Net asset value, end of period		$14.06			$14.72			$15.22

Total return³ (%)		11.81	^6,7		9.36	^6,7		7.85	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$1			$2			$7

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)		8.07	^8,9		2.21	^8,9		1.21	⁸

Ratio of net expenses to average net assets⁴ (%)		0.69	⁹		0.72	⁹		0.81	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)		(0.47	)⁹		1.70	⁹		0.68

Portfolio turnover (%)		23	⁷		5	⁷		21

Lifestyle Portfolios – Fund details

Financial highlights, continued

Class R4 Shares


Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$12.63			$14.07			$14.71

Income (loss) from investment operations

Net investment income (loss)^1,2		(0.05	)		0.08			0.11

Net realized and unrealized gain (loss) on investments		1.55			1.25			1.07

Total from investment operations		1.50			1.33			1.18

Less distributions

From net investment income		(0.06	)		(0.40	)		(0.14	)

From net realized gain		—			(0.29	)		(0.54	)

From capital paid-in		—			—			—

Total distributions		(0.06	)		(0.69	)		(0.68	)

Net asset value, end of period		$14.07			$14.71			$15.21

Total return³ (%)		11.94	^6,7		9.46	^6,7		8.13	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$2			$2			$5

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)		4.08	^8,9		1.38	⁸		0.96	⁸

Ratio of net expenses to average net assets⁴ (%)		0.49	⁹		0.53	⁹		0.54	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)		(0.38	)⁹		1.71	⁹		0.70

Portfolio turnover (%)		23	⁷		5	⁷		21


Class R5 Shares
Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$12.63			$14.09			$14.71

Income (loss) from investment operations

Net investment income (loss)^1,2		0.01			0.09			0.22

Net realized and unrealized gain (loss) on investments		1.52			1.26			1.00

Total from investment operations		1.53			1.35			1.22

Less distributions

From net investment income		(0.07	)		(0.44	)		(0.18	)

From net realized gain		—			(0.29	)		(0.54	)

From capital paid-in		—			—			—

Total distributions		(0.07	)		(0.73	)		(0.72	)

Net asset value, end of period		$14.09			$14.71			$15.21

Total return³ (%)		12.16	^6,7		9.57	^6,7		8.42	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		—	¹²		$1			$3

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)		8.26	^8,9		4.07	^8,9		1.11	⁸

Ratio of net expenses to average net assets⁴ (%)		0.20	⁹		0.23	⁹		0.23	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)		0.05	⁹		1.90	⁹		1.40

Portfolio turnover (%)		23	⁷		5	⁷		21

Lifestyle Portfolios – Fund details

Financial highlights, continued

Lifestyle Growth Class R Shares


Per share operating performance	period ended	12-31-06^5,10			12-31-07

Net asset value, beginning of period			$14.70			$14.79

Income (loss) from investment operations

Net investment income (loss)^1,2			0.15			0.27

Net realized and unrealized gain (loss) on investments			0.98			0.67

Total from investment operations			1.13			0.94

Less distributions

From net investment income			(0.40	)		(0.16	)

From net realized gain			(0.36	)		(0.45	)

From capital paid-in			(0.28	)		—

Total distributions			(1.04	)		(0.61	)

Net asset value, end of period			$14.79			$15.12

Total return³ (%)			7.64	^6,7		6.47	⁶

Ratios and supplemental data

Net assets, end of period (in millions)			—	¹²		$1

Ratios to average net assets

Ratio of gross expenses to average net assets⁴ (%)			12.41	^8,9		5.27	⁸

Ratio of net expenses to average net assets⁴ (%)			0.95	⁹		1.06	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)			3.39	⁹		1.72

Portfolio turnover (%)			4	⁷		18


Class R1 Shares
Per share operating performance	period ended	12-31-06^5,10			12-31-07

Net asset value, beginning of period			$14.70			$14.77

Income (loss) from investment operations

Net investment income (loss)^1,2			0.14			0.32

Net realized and unrealized gain (loss) on investments			1.00			0.66

Total from investment operations			1.14			0.98

Less distributions

From net investment income			(0.42	)		(0.20	)

From net realized gain			(0.36	)		(0.45	)

From capital paid-in			(0.29	)		—

Total distributions			(1.07	)		(0.65	)

Net asset value, end of period			$14.77			$15.10

Total return³ (%)			7.75	^6,7		6.75	⁶

Ratios and supplemental data

Net assets, end of period (in millions)			—	¹²		$2

Ratios to average net assets

Ratio of gross expenses to average net assets⁴ (%)			12.95	^8,9		2.42	⁸

Ratio of net expenses to average net assets⁴ (%)			0.69	⁹		0.73	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)			3.23	⁹		2.02

Portfolio turnover (%)			4	⁷		18

Lifestyle Portfolios – Fund details

Financial highlights, continued

Class R2 Shares


Per share operating performance	period ended			12-31-06^5,10			12-31-07

Net asset value, beginning of period					$14.70			$14.74

Income (loss) from investment operations

Net investment income (loss)^1,2					0.15			0.31

Net realized and unrealized gain (loss) on investments					0.99			0.69

Total from investment operations					1.14			1.00

Less distributions

From net investment income					(0.44	)		(0.23	)

From net realized gain					(0.36	)		(0.45	)

From capital paid-in					(0.30	)		—

Total distributions					(1.10	)		(0.68	)

Net asset value, end of period					$14.74			$15.06

Total return³ (%)					7.80	^6,7		6.91	⁶

Ratios and supplemental data

Net assets, end of period (in millions)					—	¹²		$1

Ratios to average net assets

Ratio of gross expenses to average net assets⁴ (%)					12.74	^8,9		3.18	⁸

Ratio of net expenses to average net assets⁴ (%)					0.45	⁹		0.62	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)					3.48	⁹		1.95

Portfolio turnover (%)					4	⁷		18


Class R3 Shares
Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.35			$14.61			$14.71

Income (loss) from investment operations

Net investment income (loss)^1,2		0.07			0.16			0.28

Net realized and unrealized gain (loss) on investments		1.26			1.01			0.69

Total from investment operations		1.33			1.17			0.97

Less distributions

From net investment income		(0.07	)		(0.42	)		(0.20	)

From net realized gain		—			(0.36	)		(0.45	)

From capital paid-in		—			(0.29	)		—

Total distributions		(0.07	)		(1.07	)		(0.65	)

Net asset value, end of period		$14.61			$14.71			$15.03

Total return³ (%)		9.98	^6,7		8.00	^6,7		6.69	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$2			$4			$14

Ratios to average net assets

Ratio of gross expenses to average net assets⁴ (%)		5.07	^8,9		1.35	^8,9		0.98	⁸

Ratio of net expenses to average net assets⁴ (%)		0.68	⁹		0.71	⁹		0.80	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)		0.62	⁹		3.13	⁹		1.83

Portfolio turnover (%)		26	⁷		4	⁷		18

Lifestyle Portfolios – Fund details

Financial highlights, continued

Class R4 Shares


Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.35			$14.64			$14.71

Income (loss) from investment operations

Net investment income (loss)^1,2		0.08			0.16			0.27

Net realized and unrealized gain (loss) on investments		1.29			1.01			0.74

Total from investment operations		1.37			1.17			1.01

Less distributions

From net investment income		(0.08	)		(0.44	)		(0.24	)

From net realized gain		—			(0.36	)		(0.45	)

From capital paid-in		—			(0.30	)		—

Total distributions		(0.08	)		(1.10	)		(0.69	)

Net asset value, end of period		$14.64			$14.71			$15.03

Total return³ (%)		10.26	^6,7		8.04	^6,7		6.95	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$5			$7			$15

Ratios to average net assets

Ratio of gross expenses to average net assets⁴ (%)		1.78	^8,9		0.80	^8,9		0.64	⁸

Ratio of net expenses to average net assets⁴ (%)		0.49	⁹		0.53	⁹		0.53	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)		0.69	⁹		3.12	⁹		1.76

Portfolio turnover (%)		26	⁷		4	⁷		18


Class R5 Shares
Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.35			$14.66			$14.71

Income (loss) from investment operations

Net investment income (loss)^1,2		0.09			0.18			0.39

Net realized and unrealized gain (loss) on investments		1.30			1.02			0.67

Total from investment operations		1.39			1.20			1.06

Less distributions

From net investment income		(0.08	)		(0.47	)		(0.28	)

From net realized gain		—			(0.36	)		(0.45	)

From capital paid-in		—			(0.32	)		—

Total distributions		(0.08	)		(1.15	)		(0.73	)

Net asset value, end of period		$14.66			$14.71			$15.04	⁷

Total return³ (%)		10.47	^6,7		8.15	^6,7		7.31	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$2			$2			$8

Ratios to average net assets

Ratio of gross expenses to average net assets⁴ (%)		2.52	^8,9		1.40	^8,9		0.54	⁸

Ratio of net expenses to average net assets⁴ (%)		0.19	⁹		0.20	⁹		0.21	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)		0.70	⁹		3.54	⁹		2.53

Portfolio turnover (%)		26	⁷		4	⁷		18

Lifestyle Portfolios – Fund details

Financial highlights, continued

Lifestyle Balanced Class R Shares


Per share operating performance	period ended	12-31-06^5,10			12-31-07

Net asset value, beginning of period			$14.44			$14.39

Income (loss) from investment operations

Net investment income (loss)^1,2			0.32			0.36

Net realized and unrealized gain (loss) on investments			0.66			0.40

Total from investment operations			0.98			0.76

Less distributions

From net investment income			(0.41	)		(0.29	)

From net realized gain			(0.27	)		(0.32	)

From capital paid-in			(0.35	)		—

Total distributions			(1.03	)		(0.61	)

Net asset value, end of period			$14.39			$14.54

Total return³ (%)			6.79	^6,7		5.31	⁶

Ratios and supplemental data

Net assets, end of period (in millions)			—	¹²		$1

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)			$8.41	^8,9		$4.49	⁸

Ratio of net expenses to average net assets⁴ (%)			0.95	⁹		1.07	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)			7.37	⁹		2.40

Portfolio turnover (%)			3	⁷		14


Class R1 Shares
Per share operating performance	period ended	12-31-06^5,10			12-31-07

Net asset value, beginning of period			$14.44			$14.38

Income (loss) from investment operations

Net investment income (loss)^1,2			0.21			0.49

Net realized and unrealized gain (loss) on investments			0.78			0.31

Total from investment operations			0.99			0.80

Less distributions

From net investment income			(0.42	)		(0.33	)

From net realized gain			(0.27	)		(0.32	)

From capital paid-in			(0.36	)		—

Total distributions			(1.05	)		(0.65	)

Net asset value, end of period			$14.38			$14.53

Total return³ (%)			6.84	^6,7		5.58	⁶

Ratios and supplemental data

Net assets, end of period (in millions)			—	¹²		1

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)			$13.06	^8,9		$7.35	⁸

Ratio of net expenses to average net assets⁴ (%)			0.70	⁹		0.78	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)			4.96	⁹		3.25

Portfolio turnover (%)			3	⁷		14

Lifestyle Portfolios – Fund details

Financial highlights, continued

Class R2 Shares


Per share operating performance	period ended			12-31-06^5,10			12-31-07

Net asset value, beginning of period					$14.44			$14.37

Income (loss) from investment operations

Net investment income (loss)^1,2					0.22			0.43

Net realized and unrealized gain (loss) on investments					0.77			0.39

Total from investment operations					0.99			0.82

Less distributions

From net investment income					(0.43	)		(0.36	)

From net realized gain					(0.27	)		(0.32	)

From capital paid-in					(0.36	)		—

Total distributions					(1.06	)		(0.68	)

Net asset value, end of period					$14.37			$14.51

Total return³ (%)					6.90	^6,7		5.77	⁶

Ratios and supplemental data

Net assets, end of period (in millions)					—	¹²		$1

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)					12.70	^8,9		2.84	⁸

Ratio of net expenses to average net assets⁴ (%)					0.45	⁹		0.56	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)					5.21	⁹		2.90

Portfolio turnover (%)					3	⁷		14


Class R3 Shares
Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.35			$14.37			$14.36

Income (loss) from investment operations

Net investment income (loss)^1,2		0.36			0.22			0.43

Net realized and unrealized gain (loss) on investments		0.82			0.82			0.37

Total from investment operations		1.18			1.04			0.80

Less distributions

From net investment income		(0.16	)		(0.42	)		(0.32	)

From net realized gain		—	¹¹		(0.27	)		(0.32	)

From capital paid-in		—			(0.36	)		—

Total distributions		(0.16	)		(1.05	)		(0.64	)

Net asset value, end of period		$14.37			$14.36			$14.52

Total return³ (%)		8.92	^6,7		7.22	^6,7		5.65	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$3			$5			$23

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)		$3.70	^8,9		$1.24	^8,9		$0.85	⁸

Ratio of net expenses to average net assets⁴ (%)		0.69	⁹		0.72	⁹		0.76	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)		3.10	⁹		4.55	⁹		2.90

Portfolio turnover (%)		23	⁷		3	⁷		14

Lifestyle Portfolios – Fund details

Financial highlights, continued

Class R4 Shares


Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.35			$14.38			$14.36

Income (loss) from investment operations

Net investment income (loss)^1,2		0.16			0.23			0.39

Net realized and unrealized gain (loss) on investments		1.06			0.81			0.45

Total from investment operations		1.22			1.04			0.84

Less distributions

From net investment income		(0.19	)		(0.43	)		(0.36	)

From net realized gain		—	¹¹		(0.27	)		(0.32	)

From capital paid-in		—			(0.36	)		—

Total distributions		(0.19	)		(1.06	)		(0.68	)

Net asset value, end of period		$14.38			$14.36			$14.52

Total return³ (%)		9.19	^6,7		7.27	^6,7		5.91	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$7			$10			$18

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)		$1.46	^8,9		$0.70	^8,9		$0.58	⁸

Ratio of net expenses to average net assets⁴ (%)		0.48	⁹		0.52	⁹		0.51	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)		1.37	⁹		4.55	⁹		2.63

Portfolio turnover (%)		23	⁷		3	⁷		14


Class R5 Shares
Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.35			$14.38			$14.36

Income (loss) from investment operations

Net investment income (loss)^1,2		0.18			0.24			0.50

Net realized and unrealized gain (loss) on investments		1.06			0.82			0.38

Total from investment operations		1.24			1.06			0.88

Less distributions

From net investment income		(0.21	)		(0.44	)		(0.40	)

From net realized gain		—	¹¹		(0.27	)		(0.32	)

From capital paid-in		—			(0.37	)		—

Total distributions		(0.21	)		(1.08	)		(0.72	)

Net asset value, end of period		$14.38			$14.36			$14.52

Total return³ (%)		9.39	^6,7		7.41	^6,7		6.18	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$1			$2			$10

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)		2.58	^8,9		1.69	^8,9		0.43	⁸

Ratio of net expenses to average net assets⁴ (%)		0.19	⁹		0.20	⁹		0.21	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)		1.48	⁹		4.85	⁹		3.35
Portfolio turnover (%)		23	⁷		3	⁷		14

Lifestyle Portfolios – Fund details

Financial highlights, continued

Lifestyle Moderate Class R Shares


Per share operating performance	period ended	12-31-06^5,10			12-31-07

Net asset value, beginning of period			$13.69			$13.55

Income (loss) from investment operations

Net investment income (loss)^1,2			0.24			0.47

Net realized and unrealized gain (loss) on investments			0.50			0.11

Total from investment operations			0.74			0.58

Less distributions

From net investment income			(0.35	)		(0.36	)

From net realized gain			(0.21	)		(0.19	)

From capital paid-in			(0.32	)		—

Total distributions			(0.88	)		(0.55	)

Net asset value, end of period			$13.55			$13.58

Total return³ (%)			5.38	^6,7		4.28	⁶

Ratios and supplemental data

Net assets, end of period (in millions)			—	¹²		$1

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)			13.40	^8,9		6.32	⁸

Ratio of net expenses to average net assets⁴ (%)			0.95	⁹		1.06	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)			5.83	⁹		3.41

Portfolio turnover (%)			1	⁷		13


Class R1 Shares
Per share operating performance	period ended	12-31-06^5,10			12-31-07

Net asset value, beginning of period			$13.69			$13.54

Income (loss) from investment operations

Net investment income (loss)^1,2			0.25			0.52

Net realized and unrealized gain (loss) on investments			0.50			0.10

Total from investment operations			0.75			0.62

Less distributions

From net investment income			(0.36	)		(0.39	)

From net realized gain			(0.21	)		(0.19	)

From capital paid-in			(0.33	)		—

Total distributions			(0.90	)		(0.58	)

Net asset value, end of period			$13.54			$13.58

Total return³ (%)			5.43	^6,7		4.63	⁶

Ratios and supplemental data

Net assets, end of period (in millions)			—	¹²		$1

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)			13.14	^8,9		4.10	⁸

Ratio of net expenses to average net assets⁴ (%)			0.70	⁹		0.71	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)			6.07	⁹		3.73

Portfolio turnover (%)			1	⁷		13

Lifestyle Portfolios – Fund details

Financial highlights, continued

Class R2 Shares


Per share operating performance	period ended			12-31-06^5,10			12-31-07

Net asset value, beginning of period					$13.69			$13.53

Income (loss) from investment operations

Net investment income (loss)^1,2					0.26			0.44

Net realized and unrealized gain (loss) on investments					0.48			0.22

Total from investment operations					0.74			0.66

Less distributions

From net investment income					(0.36	)		(0.43	)

From net realized gain					(0.21	)		(0.19	)

From capital paid-in					(0.33	)		—

Total distributions					(0.90	)		(0.62	)

Net asset value, end of period					$13.53			$13.57

Total return³ (%)					5.48	^6,7		4.89	⁶

Ratios and supplemental data

Net assets, end of period (in millions)					—	¹²		—	¹²

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)					12.87	^8,9		19.12	⁸

Ratio of net expenses to average net assets⁴ (%)					0.45	⁹		0.45	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)					6.33	⁹		3.18

Portfolio turnover (%)					1	⁷		13


Class R3 Shares
Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$12.94			$13.65			$13.53

Income (loss) from investment operations

Net investment income (loss)^1,2		0.33			0.23			0.47

Net realized and unrealized gain (loss) on investments		0.58			0.55			0.15

Total from investment operations		0.91			0.78			0.62

Less distributions

From net investment income		(0.20	)		(0.36	)		(0.39	)

From net realized gain		—			(0.21	)		(0.19	)

From capital paid-in		—			(0.33	)		—

Total distributions		(0.20	)		(0.90	)		(0.58	)

Net asset value, end of period		$13.65			$13.53			$13.57

Total return³ (%)		7.10	^6,7		5.66	^6,7		4.61	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$1			$1			$4

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)		8.44	^8,9		3.13	^8,9		1.51	⁸

Ratio of net expenses to average net assets⁴ (%)		0.69	⁹		0.78	⁹		0.83	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)		2.93	⁹		4.89	⁹		3.40

Portfolio turnover (%)		24	⁷		1	⁷		13

Lifestyle Portfolios – Fund details

Financial highlights, continued

Class R4 Shares


Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$12.94			$13.63			$13.51

Income (loss) from investment operations

Net investment income (loss)^1,2		0.30			0.25			0.47

Net realized and unrealized gain (loss) on investments		0.62			0.53			0.18

Total from investment operations		0.92			0.78			0.65

Less distributions

From net investment income		(0.23	)		(0.36	)		(0.42	)

From net realized gain		—			(0.21	)		(0.19	)

From capital paid-in		—			(0.33	)		—

Total distributions		(0.23	)		(0.90	)		(0.61	)

Net asset value, end of period		$13.63			$13.51			$13.55

Total return³ (%)		7.14	^6,7		5.80	^6,7		4.87	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$1			$2			$4

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)		4.65	^8,9		1.53	^8,9		1.13	⁸

Ratio of net expenses to average net assets⁴ (%)		0.49	⁹		0.52	⁹		0.54	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)		2.59	⁹		5.44	⁹		3.38

Portfolio turnover (%)		24	⁷		1	⁷		13


Class R5 Shares
Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$12.94			$13.64			$13.52

Income (loss) from investment operations

Net investment income (loss)^1,2		0.22			0.32			0.58

Net realized and unrealized gain (loss) on investments		0.73			0.48			0.11

Total from investment operations		0.95			0.80			0.69

Less distributions

From net investment income		(0.25	)		(0.37	)		(0.46	)

From net realized gain		—			(0.21	)		(0.19	)

From capital paid-in		—			(0.34	)		—

Total distributions		(0.25	)		(0.92	)		(0.65	)

Net asset value, end of period		$13.64			$13.52			$13.56

Total return³ (%)		7.40	^6,7		5.93	^6,7		5.15	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$1			$1			$4

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)		4.86	^8,9		2.83	^8,9		0.97	⁸

Ratio of net expenses to average net assets⁴ (%)		0.19	⁹		0.20	⁹		0.21	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)		1.92	⁹		6.83	⁹		4.21

Portfolio turnover (%)		24	⁷		1	⁷		13

Lifestyle Portfolios – Fund details

Financial highlights, continued

Lifestyle Conservative Class R Shares


Per share operating performance	period ended	12-31-06⁵			12-31-07

Net asset value, beginning of period			$13.67			$13.31

Income (loss) from investment operations

Net investment income (loss)^1,2			0.29			0.48

Net realized and unrealized gain (loss) on investments			0.23			0.11

Total from investment operations			0.52			0.59

Less distributions

From net investment income			(0.37	)		(0.44	)

From net realized gain			(0.16	)		(0.12	)

From capital paid-in			(0.35	)		—

Total distributions			(0.88	)		(0.56	)

Net asset value, end of period			$13.31			$13.34

Total return³ (%)			3.80	^6,7		4.49	⁶

Ratios and supplemental data

Net assets, end of period (in millions)			—	¹²		—	¹²

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)			13.49	^8,9		13.84	⁸

Ratio of net expenses to average net assets⁴ (%)			0.95	⁹		1.01	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)			7.14	⁹		3.53

Portfolio turnover (%)			2	⁷		13


Class R1 Shares
Per share operating performance	period ended	12-31-06⁵			12-31-07

Net asset value, beginning of period			$13.67			$13.30

Income (loss) from investment operations

Net investment income (loss)^1,2			0.30			0.57

Net realized and unrealized gain (loss) on investments			0.23			0.07

Total from investment operations			0.53			0.64

Less distributions

From net investment income			(0.38	)		(0.48	)

From net realized gain			(0.16	)		(0.12	)

From capital paid-in			(0.36	)		—

Total distributions			(0.90	)		(0.60	)

Net asset value, end of period			$13.30			$13.34

Total return³ (%)			3.85	^6,7		4.83	⁶

Ratios and supplemental data

Net assets, end of period (in millions)			—	¹²		—	¹²

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)			13.24	^8,9		9.69	⁸

Ratio of net expenses to average net assets⁴ (%)			0.70	⁹		0.71	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)			7.38	⁹		4.21

Portfolio turnover (%)			2	⁷		13

Lifestyle Portfolios – Fund details

Financial highlights, continued

Class R2 Shares


Per share operating performance	period ended			12-31-06⁵			12-31-07

Net asset value, beginning of period					$13.67			$13.30

Income (loss) from investment operations

Net investment income (loss)^1,2					0.31			0.56

Net realized and unrealized gain (loss) on investments					0.23			0.09

Total from investment operations					0.54			0.65

Less distributions

From net investment income					(0.38	)		(0.51	)

From net realized gain					(0.16	)		(0.12	)

From capital paid-in					(0.37	)		—

Total distributions					(0.91	)		(0.63	)

Net asset value, end of period					$13.30			$13.32

Total return³ (%)					3.98	^6,7		4.93	⁶

Ratios and supplemental data

Net assets, end of period (in millions)					—	¹²		—	¹²

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)					12.98	^8,9		7.59	⁸

Ratio of net expenses to average net assets⁴ (%)					0.45	⁹		0.53	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)					7.64	⁹		4.14

Portfolio turnover (%)					2	⁷		13


Class R3 Shares
Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.16			$13.65			$13.29

Income (loss) from investment operations

Net investment income (loss)^1,2		0.28			0.29			0.70

Net realized and unrealized gain (loss) on investments		0.44			0.25			(0.07	)

Total from investment operations		0.72			0.54			0.63

Less distributions

From net investment income		(0.23	)		(0.38	)		(0.47	)

From net realized gain		—			(0.16	)		(0.12	)

From capital paid-in		—			(0.36	)		—

Total distributions		(0.23	)		(0.90	)		(0.59	)

Net asset value, end of period		$13.65			$13.29			$13.33

Total return³ (%)		5.55	^6,7		3.93	^6,7		4.81	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		—	¹²		—	¹²		$4

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)		14.72	^8,9		6.23	^8,9		1.89	⁸

Ratio of net expenses to average net assets⁴ (%)		0.68	⁹		0.77	⁹		0.81	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)		2.46	⁹		6.23	⁹		5.17

Portfolio turnover (%)		20	⁷		2	⁷		13

Lifestyle Portfolios – Fund details

Financial highlights, continued

Class R4 Shares


Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.16			$13.64			$13.28

Income (loss) from investment operations

Net investment income (loss)^1,2		0.44			0.28			0.53

Net realized and unrealized gain (loss) on investments		0.30			0.27			0.12

Total from investment operations		0.74			0.55			0.65

Less distributions

From net investment income		(0.26	)		(0.38	)		(0.50	)

From net realized gain		—			(0.16	)		(0.12	)

From capital paid-in		—			(0.37	)		—

Total distributions		(0.26	)		(0.91	)		(0.62	)

Net asset value, end of period		$13.64			$13.28			$13.31

Total return³ (%)		5.66	^6,7		4.06	^6,7		4.97	⁶


Ratios and supplemental data

Net assets, end of period (in millions)		$1			$1			$3

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)		10.01	^8,9		2.87	^8,9		1.46	⁸

Ratio of net expenses to average net assets⁴ (%)		0.45	⁹		0.51	⁹		0.53	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)		3.89	⁹		6.17	⁹		3.96

Portfolio turnover (%)		20	⁷		2	⁷		13


Class R5 Shares
Per share operating performance	period ended 8-31-06¹⁰			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.16			$13.65			$13.29

Income (loss) from investment operations

Net investment income (loss)^1,2		0.28			0.28			0.57

Net realized and unrealized gain (loss) on investments		0.49			0.29			0.12

Total from investment operations		0.77			0.57			0.69

Less distributions

From net investment income		(0.28	)		(0.40	)		(0.54	)

From net realized gain		—			(0.16	)		(0.12	)

From capital paid-in		—			(0.37	)		—

Total distributions		(0.28	)		(0.93	)		(0.66	)

Net asset value, end of period		$13.65			$13.29			$13.32

Total return³ (%)		5.94	^6,7		4.19	^6,7		5.27	⁶


Ratios and supplemental data

Net assets, end of period (in millions)		—	¹²		—	¹²		$1

Ratio to average net assets

Ratio of gross expenses to average net assets⁴ (%)		9.18	^8,9		6.37	^8,9		3.42	⁸

Ratio of net expenses to average net assets⁴ (%)		0.19	⁹		0.20	⁹		0.22	^14,15

Ratio of net investment income (loss) to average net assets¹ (%)		2.44	⁹		6.01	⁹		4.23

Portfolio turnover (%)		20	⁷		2	⁷		13


1		Recognition of net investment income by the Portfolio is affected by the timing of the declaration of dividends by the underlying funds in which the Portfolio invests.

2		Based on the average of the shares outstanding.

3		Assumes dividend reinvestment and does not reflect the effect of sales charges.

4		Does not include expenses of the underlying affiliated funds in which the Portfolio invests.

5		Effective January 18, 2007, the fiscal year-end changed from August 31 to December 31.

6		Total returns would have been lower had certain expenses not been reduced during the periods shown.

7		Not annualized.

8		Does not take into consideration expense reductions during the periods shown.

9		Annualized.

10		Class A, Class B, Class C, Class R3, Class R4 and Class R5 shares began operations on October 18, 2005; Class R, Class R1 and Class R2 began operations on September 18, 2006; and Class 1 shares began operation on October 15, 2005.

11		Less than $0.01 per share.

12		Less than $500,000.

13		Class 5 shares began operation on July 3, 2006.

14		Ratios do not include expenses indirectly incurred from underlying portfolios whose expense ratios can vary between 0.79% and 0.91% based on the mix of underlying portfolios held by the portfolio.

15		Includes transfer agent fee earned credits of less than 0.01% to average net assets.

Lifestyle Portfolios – Fund details

Underlying fund information

The funds invest primarily in underlying funds. Therefore, each fund’s investment performance is directly related to the investment performance of the underlying funds. Information regarding the underlying funds is available in the applicable fund’s prospectus and SAI. This prospectus is not an offer for any of the underlying funds. For copies of the prospectuses of the John Hancock underlying funds, which contain this and other information, visit our Web site at www.jhfunds.com.

As of March 31, 2008, the funds allocated assets to the underlying funds stated below.


Lifestyle Aggressive Portfolio


Underlying fund:		Subadviser:


All Cap Core Fund		Deutsche Investment Management Americas Inc.
All Cap Value Fund		Lord, Abbett & Co. LLC
Blue Chip Growth Fund		T. Rowe Price Associates, Inc.
Capital Appreciation Fund		Jennison Associates LLC
Core Equity Fund		Legg Mason Capital Management, Inc.
Emerging Growth Fund		MFC Global Investment Management (U.S.), LLC
Emerging Markets Value Fund		Dimensional Fund Advisors LP
Equity-Income Fund		T. Rowe Price Associates, Inc.
Fundamental Value Fund		Davis Selected Advisers, LP
International Core Fund		Grantham, Mayo, Van Otterloo & Co. LLC
International Equity Index Fund		SSgA Funds Management, Inc.
International Opportunities Fund		Marsico Capital Management, LLC
International Small Cap Fund		Templeton Investment Counsel, LLC
International Small Company Fund		Dimensional Fund Advisors LP
International Value Fund		Templeton Investment Counsel, Inc.
Large Cap Fund		UBS Global Asset Management (Americas) Inc.
Large Cap Value Fund		BlackRock Investment Management, LLC
Mid Cap Index Fund		MFC Global Investment Management (U.S.A.) Limited
Mid Cap Intersection Fund		Wellington Management Company, LLP
Mid Cap Stock Fund		Wellington Management Company, LLP
Mid Cap Value Equity Fund		RiverSource Investments, LLC
Mid Cap Value Fund		Lord, Abbett & Co. LLC
Natural Resources Fund		Wellington Management Company, LLP
Optimized Value Fund		MFC Global Investment Management (U.S.A.) Limited
Small Cap Fund		Independence Investments LLC
Small Cap Index Fund		MFC Global Investment Management (U.S.A.) Limited
Small Cap Intrinsic Value Fund		MFC Global Investment Management (U.S.), LLC
Small Company Fund		American Century Investment Management, Inc.
Small Company Value Fund		T. Rowe Price Associates, Inc.
U.S. Multi-Sector Fund		Grantham, Mayo, Van Otterloo & Co. LLC
Value & Restructuring Fund		UST Advisers, Inc.
Vista Fund		American Century Investment Management, Inc.

Lifestyle Growth Portfolio


Underlying fund:		Subadviser:


All Cap Core Fund		Deutsche Investment Management Americas Inc.
All Cap Growth Fund		AIM Capital Management, Inc.
Blue Chip Growth Fund		T. Rowe Price Associates, Inc.
Capital Appreciation Fund		Jennison Associates LLC
Core Equity Fund		Legg Mason Capital Management, Inc.
Emerging Markets Value Fund		Dimensional Fund Advisors LP
Equity-Income Fund		T. Rowe Price Associates, Inc.
Floating Rate Income Fund		Western Asset Management Company
Fundamental Value Fund		Davis Selected Advisers, LP
Global Bond Fund		Pacific Investment Management Company LLC
Global Real Estate Fund		Deutsche Investment Management Americas Inc.
High Income Fund		MFC Global Investment Management (U.S.), LLC
High Yield Fund		Western Asset Management Company
Index 500 Fund		MFC Global Investment Management (U.S.A.) Limited
International Core Fund		Grantham, Mayo, Van Otterloo & Co. LLC
International Equity Index Fund		SSgA Funds Management, Inc.
International Opportunities Fund		Marsico Capital Management, LLC
International Small Cap Fund		Templeton Investment Counsel, LLC
International Small Company Fund		Dimensional Fund Advisors LP
International Value Fund		Templeton Investment Counsel, Inc.
Large Cap Fund		UBS Global Asset Management (Americas) Inc.
Large Cap Value Fund		BlackRock Investment Management, LLC
Mid Cap Index Fund		MFC Global Investment Management (U.S.A.) Limited
Mid Cap Intersection Fund		Wellington Management Company, LLP

Lifestyle Portfolios – Fund details


Mid Cap Stock Fund		Wellington Management Company, LLP
Mid Cap Value Equity Fund		RiverSource Investments, LLC
Mid Cap Value Fund		Lord, Abbett & Co. LLC
Natural Resources Fund		Wellington Management Company, LLP
Optimized Value Fund		MFC Global Investment Management (U.S.A.) Limited
Real Estate Equity Fund		T. Rowe Price Associates, Inc.
Real Return Bond Fund		Pacific Investment Management Company LLC
Small Cap Fund		Independence Investments LLC
Small Cap Intrinsic Value Fund		MFC Global Investment Management (U.S.), LLC
Small Cap Opportunities Fund		Munder Capital Management
Small Company Growth Fund		AIM Capital Management, Inc.
Small Company Value Fund		T. Rowe Price Associates, Inc.
Spectrum Income Fund		T. Rowe Price Associates, Inc.
Strategic Bond Fund		Western Asset Management Company
Strategic Income Fund		MFC Global Investment Management (U.S.), LLC
Total Return Fund		Pacific Investment Management Company LLC
U.S. High Yield Bond Fund		Wells Capital Management, Incorporated
U.S. Multi-Sector Fund		Grantham, Mayo, Van Otterloo & Co. LLC
Value & Restructuring Fund		UST Advisers, Inc.
Vista Fund		American Century Investment Management, Inc.

Lifestyle Balanced Portfolio


Underlying fund:		Subadviser:


Active Bond Fund		Declaration Management & Research LLC and MFC Global Investment Management (U.S.), LLC
All Cap Core Fund		Deutsche Investment Management Americas Inc.
Blue Chip Growth Fund		T. Rowe Price Associates, Inc.
Capital Appreciation Fund		Jennison Associates LLC
Core Bond Fund		Wells Capital Management, Incorporated
Core Equity Fund		Legg Mason Capital Management, Inc.
Emerging Markets Value Fund		Dimensional Fund Advisors LP
Equity-Income Fund		T. Rowe Price Associates, Inc.
Floating Rate Income Fund		Western Asset Management Company
Fundamental Value Fund		Davis Selected Advisers, LP
Global Bond Fund		Pacific Investment Management Company LLC
Global Real Estate Fund		Deutsche Investment Management Americas Inc.
High Income Fund		MFC Global Investment Management (U.S.), LLC
High Yield Fund		Western Asset Management Company
Index 500 Fund		MFC Global Investment Management (U.S.A.) Limited
International Core Fund		Grantham, Mayo, Van Otterloo & Co. LLC
International Opportunities Fund		Marsico Capital Management, LLC
International Small Cap Fund		Templeton Investment Counsel, LLC
International Value Fund		Templeton Investment Counsel, Inc.
Large Cap Fund		UBS Global Asset Management (Americas) Inc.
Large Cap Value Fund		BlackRock Investment Management, LLC
Mid Cap Index Fund		MFC Global Investment Management (U.S.A.) Limited
Mid Cap Stock Fund		Wellington Management Company, LLP
Natural Resources Fund		Wellington Management Company, LLP
Optimized Value Fund		MFC Global Investment Management (U.S.A.) Limited
Real Estate Equity Fund		T. Rowe Price Associates, Inc.
Real Return Bond Fund		Pacific Investment Management Company LLC
Small Company Growth Fund		AIM Capital Management, Inc.
Small Company Value Fund		T. Rowe Price Associates, Inc.
Spectrum Income Fund		T. Rowe Price Associates, Inc.
Strategic Bond Fund		Western Asset Management Company
Strategic Income Fund		MFC Global Investment Management (U.S.), LLC
Total Return Fund		Pacific Investment Management Company LLC
U.S. High Yield Bond Fund		Wells Capital Management, Incorporated
U.S. Multi-Sector Fund		Grantham, Mayo, Van Otterloo & Co. LLC
Value & Restructuring Fund		UST Advisers, Inc.
Lifestyle Moderate Portfolio


Underlying fund:		Subadviser:


Active Bond Fund		Declaration Management & Research LLC and MFC Global Investment Management (U.S.), LLC
Blue Chip Growth Fund		T. Rowe Price Associates, Inc.
Core Bond Fund		Wells Capital Management, Incorporated
Core Equity Fund		Legg Mason Capital Management, Inc.
Equity-Income Fund		T. Rowe Price Associates, Inc.
Floating Rate Income Fund		Western Asset Management Company

Lifestyle Portfolios – Fund details


Fundamental Value Fund		Davis Selected Advisers, LP
Global Bond Fund		Pacific Investment Management Company LLC
Global Real Estate Fund		Deutsche Investment Management Americas Inc.
High Income Fund		MFC Global Investment Management (U.S.), LLC
High Yield Fund		Western Asset Management Company
International Core Fund		Grantham, Mayo, Van Otterloo & Co. LLC
International Equity Index Fund		SSgA Funds Management, Inc.
International Opportunities Fund		Marsico Capital Management, LLC
International Value Fund		Templeton Investment Counsel, Inc.
Investment Quality Bond Fund		Wellington Management Company, LLP
Mid Cap Index Fund		MFC Global Investment Management (U.S.A.) Limited
Real Estate Equity Fund		T. Rowe Price Associates, Inc.
Real Return Bond Fund		Pacific Investment Management Company LLC
Small Company Fund		American Century Investment Management, Inc.
Small Company Growth Fund		AIM Capital Management, Inc.
Small Company Value Fund		T. Rowe Price Associates, Inc.
Spectrum Income Fund		T. Rowe Price Associates, Inc.
Strategic Bond Fund		Western Asset Management Company
Strategic Income Fund		MFC Global Investment Management (U.S.), LLC
Total Return Fund		Pacific Investment Management Company LLC
U.S. High Yield Bond Fund		Wells Capital Management, Incorporated
U.S. Multi-Sector Fund		Grantham, Mayo, Van Otterloo & Co. LLC
Value & Restructuring Fund		UST Advisers, Inc.
Lifestyle Conservative Portfolio


Underlying fund:		Subadviser:


Active Bond Fund		Declaration Management & Research LLC and MFC Global Investment Management (U.S.), LLC
Blue Chip Growth Fund		T. Rowe Price Associates, Inc.
Core Bond Fund		Wells Capital Management, Incorporated
Equity-Income Fund		T. Rowe Price Associates, Inc.
Floating Rate Income Fund		Western Asset Management Company
Fundamental Value Fund		Davis Selected Advisers, LP
Global Bond Fund		Pacific Investment Management Company LLC
Global Real Estate Fund		Deutsche Investment Management Americas Inc.
High Income Fund		MFC Global Investment Management (U.S.), LLC
High Yield Fund		Western Asset Management Company
International Core Fund		Grantham, Mayo, Van Otterloo & Co. LLC
International Value Fund		Templeton Investment Counsel, Inc.
Investment Quality Bond Fund		Wellington Management Company, LLP
Real Estate Equity Fund		T. Rowe Price Associates, Inc.
Real Return Bond Fund		Pacific Investment Management Company LLC
Spectrum Income Fund		T. Rowe Price Associates, Inc.
Strategic Bond Fund		Western Asset Management Company
Strategic Income Fund		MFC Global Investment Management (U.S.), LLC
Total Return Fund		Pacific Investment Management Company LLC
U.S. High Yield Bond Fund		Wells Capital Management, Incorporated
U.S. Multi-Sector Fund		Grantham, Mayo, Van Otterloo & Co. LLC
U.S. Government Securities Fund		Western Asset Management Company
Value & Restructuring Fund		UST Advisers, Inc.

Lifestyle Portfolios – Fund details

Your account

Who can buy shares

Class R, R1, R2, R3, R4 and R5 shares are available to certain types of investors, as noted below:


•	Qualified tuition programs under Section 529 of the Internal Revenue Code of 1986, as amended (the Code) (529 Plans) distributed by John Hancock or one of its affiliates.

•	Retirement Plans including pension, profit sharing and other plans qualified under Section 401(a) or described in Section 403(b) or 457 of the Code, and non-qualified deferred compensation plans.

•	Class R, R1, R2, R3, R4 and R5 shares are available only to Retirement Plans, traditional and Roth IRAs, Coverdell Education Savings Accounts, SEPs, SAR-SEPs, and SIMPLE IRAs where the shares are held on the books of the funds through omnibus accounts (either at the plan level or at the level of the financial service firm) that trade through the National Securities Clearinghouse Corporation (NSCC).

•	Retirement Plans and other plans (except 529 Plans) not currently invested in Class A, B and C shares, which are described in a separate prospectus, may invest only in Class R, R1, R2, R3, R4 and R5 shares.

Class R, R1, R2, R3, R4 and R5 shares are not available to retail or institutional non-retirement accounts, traditional and Roth IRAs, Coverdell Education Savings Accounts, SEPs, SAR-SEPs, SIMPLE IRAs, individual 403(b) plans or other individual retirement accounts.

Class cost structure

The Class R, R1, R2, R3, R4 and R5 shares of the fund are sold without any front-end or deferred sales charges. Each of the R, R1, R2, R3 and R4 share classes has a Rule 12b-1 plan that allows it to pay fees for the sale, distribution and service of its shares. The Class R5 shares do not have a Rule 12b-1 plan.


•	Distribution and service (12b-1) fees of 0.75%.

•	Distribution and service (12b-1) fees of 0.50%.

•	Distribution and service (12b-1) fees of 0.25%.

•	Distribution and service (12b-1) fees of 0.50%.

•	Distribution and service (12b-1) fees of 0.25%.

The fund has adopted Service Plans for the Class R, R1, R2, R3, R4 and R5 shares, which authorize the fund to pay affiliated and unaffiliated entities a service fee for providing certain recordkeeping and other administrative services in connection with investments in the fund by Retirement Plans. The service fee is a specified percentage of the average daily net assets of the fund’s share class held by plan participants and is 0.25% for Class R, Class R1 and Class R2; 0.15% for Class R3 shares; 0.10% for Class R4 shares; and 0.05% for Class R5 shares. The performance and expenses information included in this prospectus does not reflect fees and expenses of any plan, which may use the fund as its underlying investment medium. If such fees and expenses had been reflected, performance would be lower.

12b-1 fees

Rule 12b-1 fees will be paid to the fund’s distributor, John Hancock Funds, LLC, and may be used by the distributor for expenses relating to the distribution of, and shareholder or administrative services for holders of, the shares of the class and for the payment of service fees that come within Rule 2830(d)(5) of the Conduct Rules of the Financial Industry Regulatory Authority (FINRA) (formerly the National Association of Securities Dealers, Inc.)

Because 12b-1 fees are paid out of fund assets on an ongoing basis, over time they will increase the cost of your investment and may cost shareholders more than other types of sales charges.

Other classes of shares of the fund, which have their own expense structure, may be offered in separate prospectuses. Your broker-dealer or agent may charge you a fee to effect transactions in fund shares.

Additional payments to financial intermediaries


•	directly, by the payment of sales commissions, if any; and

•	indirectly, as a result of the fund paying Rule 12b-1 fees.

Certain firms may request, and the distributor may agree to make, payments in addition to sales commissions and 12b-1 fees out of the distributor’s own resources. These additional payments are sometimes referred to as “revenue sharing.” These payments assist in the distributor’s efforts to promote the sale of the fund’s shares. The distributor agrees with the firm on the methods for calculating any additional compensation, which may include the level of sales or assets attributable to the firm. Not all firms receive additional compensation and the amount of compensation varies. These payments could be significant to a firm. The distributor determines which firms to support and the extent of the payments it is willing to make. The distributor generally chooses to compensate firms that have a strong capability to distribute shares of the funds and that are willing to cooperate with the distributor’s promotional efforts.

The distributor hopes to benefit from revenue sharing by increasing the funds’ net assets, which, as well as benefiting the funds, would result in additional management and other fees for the adviser and its affiliates. In consideration for revenue sharing, a firm may feature certain funds in its sales system or give preferential access to members of its sales force or management. In addition, the firm may agree to participate in the distributor’s marketing efforts by allowing the distributor or its affiliates to participate in conferences, seminars or other programs attended by the intermediary’s sales force. Although an intermediary may seek revenue sharing payments to offset costs incurred by the firm in servicing its clients that have invested in the fund, the intermediary may earn a profit on these payments. Revenue sharing payments may provide your firm with an incentive to favor the funds.

The SAI discusses the distributor’s revenue sharing arrangements in more detail. Your intermediary may charge you additional fees other than those disclosed in this prospectus.

You can ask your firm about any payments it receives from the distributor or the fund, as well as about fees and/or commissions it charges.

The distributor, adviser and their affiliates may have other relationships with your firm relating to the provision of services to the funds, such as providing omnibus account services, transaction processing services or effecting fund transactions for funds. If your intermediary provides these services, the adviser or the funds may compensate the intermediary for these services. In addition, your intermediary may have other compensated relationships with the adviser or its affiliates that are not related to the funds.

Lifestyle Portfolios – Your account

Opening an account


1	Read this prospectus carefully.

2	Determine if you are eligible, referring to “Who can buy shares.”

3	Eligible Retirement Plans generally may open an account and purchase Class R, R1, R2, R3, R4 and R5 shares by contacting any broker, dealer or other financial service firm authorized to sell Class R, R1, R2, R3, R4 and R5 shares of the funds.

Additional shares may be purchased through a Retirement Plan’s administrator or recordkeeper. There is no minimum initial investment for Class R, R1, R2, R3, R4 and R5 shares.

Plan participants generally must contact their plan service provider to purchase, redeem or exchange shares.

The administrator of a Retirement Plan or employee benefits office can provide participants with detailed information on how to participate in the plan, elect the fund as an investment option, elect different investment options, alter the amounts contributed to the plan or change allocations among investment options. For questions about participant accounts, participants should contact their employee benefits office, the plan administrator or the organization that provides recordkeeping services for the plan.

Financial service firms may provide some of the shareholder servicing and account maintenance services required by Retirement Plan accounts and their plan participants, including transfers of registration, dividend payee changes and generation of confirmation statements, and may arrange for plan administrators to provide other investment or administrative services. Financial service firms may charge Retirement Plans and plan participants transaction fees and/or other additional amounts for such services. Similarly, Retirement Plans may charge plan participants for certain expenses. These fees and additional amounts could reduce an investment return in Class R shares of the fund.

Valuation of shares

The NAV per share for each class of the fund and share class is determined each business day at the close of regular trading on the New York Stock Exchange (typically 4:00 p.m., Eastern Time). The NAV for each fund is calculated based upon the NAVs of the underlying funds and other investments in which it invests. The prospectuses for the underlying funds explain the circumstances under which those underlying funds use fair-value pricing and the effects of doing so.

Buy and Sell prices

When you buy shares, you pay the NAV plus any applicable sales charges, as described earlier. When you sell shares, you receive the NAV minus any applicable deferred sales charges.

Execution of requests

The fund is open on those days when the New York Stock Exchange is open, typically Monday through Friday. Buy and sell requests are executed at the next NAV to be calculated after Signature Services receives your request in good order. In unusual circumstances, the fund may temporarily suspend the processing of sell requests, or may postpone payment of proceeds for up to three business days or longer, as allowed by federal securities laws.

Exchanges

You may exchange Class R, R1, R2, R3, R4 and R5 shares for the same class of other John Hancock funds that are available through your plan, or Money Market Fund Class A shares without paying a sales charge. The registration for both accounts must be identical. Note: Once exchanged into Money Market Fund Class A, shares may only be exchanged back into Class R, R1, R2, R3, R4 and R5 shares.

Excessive trading

The fund is intended for long-term investment purposes only and do not knowingly accept shareholders who engage in market timing or other types of excessive short-term trading. Short-term trading into and out of a fund can disrupt investment strategies and may increase fund expenses for all shareholders, including long-term shareholders who do not generate these costs.

Right to reject or restrict purchase and exchange orders

Purchases and exchanges should be made primarily for investment purposes. The funds reserve the right to restrict, reject or cancel (with respect to cancellations, within one day of the order), for any reason and without any prior notice, any purchase or exchange order, including transactions representing excessive trading and transactions accepted by any shareholder’s financial intermediary. For example, the fund may in its discretion restrict, reject or cancel a purchase or exchange order even if the transaction is not subject to the specific “Limitation on exchange activity” described below if the fund or its agents determine that accepting the order could interfere with the efficient management of the fund’s underlying funds or otherwise not be in the fund’s best interest in light of unusual trading activity related to your account. In the event that the fund rejects or cancels an exchange request, neither the redemption nor the purchase side of the exchange will be processed. If you would like the redemption request to be processed even if the purchase order is rejected, you should submit separate redemption and purchase orders rather than placing an exchange order. The fund reserves the right to delay for up to one business day, consistent with applicable law, the processing of exchange requests in the event that, in the fund’s judgment, such delay would be in the fund’s best interest, in which case both the redemption and purchase side of the exchange will receive the funds’ NAVs at the conclusion of the delay period. The fund, through its agents in their sole discretion, may impose these remedial actions at the account holder level or the underlying shareholder level.

Exchange limitation policies

Limitation on exchange activity

Pursuant to the policies and procedures adopted by the Board of Trustees, or its agent, may reject or cancel a purchase order, suspend or terminate the exchange privilege or terminate the ability of an investor to invest in John Hancock funds if the fund, or its agent, determines that a proposed transaction involves market timing or disruptive trading that it believes is likely to be detrimental to the fund. The fund, or its agent, cannot ensure that it will be able to identify all cases of market timing or disruptive trading, although it attempts to have adequate procedures in place to do so. The fund, or its agent, may also reject or cancel any purchase order (including an exchange) from an investor or group of investors for any other reason. Decisions to reject or cancel purchase orders (including exchanges) in the fund are inherently subjective and will be made in a manner believed to be in the best interest of the fund’s shareholders. The fund does not have any arrangement to permit market timing or disruptive trading.

Lifestyle Portfolios – Your account

Limitation on the ability to detect and curtail excessive trading practices

Excessive trading risk

To the extent that a fund or its agents are unable to curtail excessive trading practices in a fund, these practices may interfere with the efficient management of the funds and may result in the fund engaging in certain activities to a greater extent than it otherwise would, such as maintaining higher cash balances, using its line of credit and engaging in fund transactions. Increased fund transactions and use of the line of credit would correspondingly increase the fund’s operating costs and decrease the fund’s investment performance. Maintenance of higher levels of cash balances would likewise result in lower fund investment performance during periods of rising markets.

While excessive trading can potentially occur in any fund, certain types of funds are more likely than others to be targets of excessive trading. For example:


•	A fund that invests a significant portion of its assets in small- or mid-capitalization stocks or securities in particular industries, that may trade infrequently or are fair valued as discussed under “Valuation of shares.” These types of securities entail a greater risk of excessive trading, as investors may seek to trade fund shares in an effort to benefit from their understanding of the value of those types of securities (referred to as price arbitrage).

•	A fund that invests a material portion of its assets in securities of non-U.S. issuers may be a potential target for excessive trading if investors seek to engage in price arbitrage based upon general trends in the securities markets that occur subsequent to the close of the primary market for such securities.

•	A fund that invests a significant portion of its assets in below investment grade (junk) bonds, that may trade infrequently or are fair valued as discussed under “Valuation of shares,” entails a greater risk of excessive trading, as investors may seek to trade fund shares in an effort to benefit from their understanding of the value of those types of securities.

Account Information

The fund is required by law to obtain information for verifying an accountholder’s identity. For example, an individual will be required to supply his or her name, address, date of birth and Social Security number. If you do not provide the required information, we may not be able to open your account. If verification is unsuccessful, the fund may close your account, redeem your shares at the next NAV minus any applicable sales charges and take any other steps that it deems reasonable.

Certificated shares

The fund does not issue share certificates. Shares are electronically recorded.

Lifestyle Portfolios – Your account

Sales in advance of purchase payments

Additional investor services

Account statements

In general, you will receive account statements from your recordkeeper.

Dividends

The fund generally declares and pays income dividends annually. Capital gains, if any, are distributed annually, typically after the end of a fund’s fiscal year.

Dividend reinvestments

Alternatively, you may choose to have your dividends and capital gains sent directly to your bank account or a check may be mailed if your combined dividend and capital gains amount is $10 or more. However, if the check is not deliverable or the combined dividend and capital gains amount is less than $10, your proceeds will be reinvested. If five or more of your dividend or capital gains checks remain uncashed after 180 days, all subsequent dividends and capital gains will be reinvested. No front-end sales charge or contingent deferred sales charge will be imposed on shares derived from reinvestment of dividends or capital gains distributions.

Taxability of dividends

The Form 1099 that is mailed to you every January, if applicable, details your dividends and their federal tax category, although you should verify your tax liability with your tax professional.

Disclosure of fund holdings

The fund’s policy regarding disclosure of fund holdings can be found in the SAI and fund holdings information can be found at www.jhfunds.com.

Lifestyle Portfolios – Your account

Appendix

Historical Performance of Corresponding John Hancock Trust Portfolios

The Class R, R1, R2, R3, R4 and R5 shares of the Portfolios have expenses, including Rule 12b-1 fees for the Class R, R1, R2, R3 and R4 shares, that are higher than expenses, including the Rule 12b-1 fees, of the Series 1 shares of the corresponding JHT Portfolios. The performance shown in the bar charts and tables for the Series I shares of the JHT portfolios would be lower if adjusted to reflect the sales charges and higher expenses of the Class R, R1, R2, R3, R4 and R5 shares of the Portfolios. The performance shown in the bar charts and tables would also be lower if the adviser to the JHT portfolios had not reimbursed certain expenses of those funds during the periods shown. Year-by-year index figures do not reflect any sales charges or fund expenses and would be lower if they did. The JHT portfolios serve as the underlying investment vehicle for variable insurance products. The performance presented does not reflect the fees and expenses of any variable insurance products. As indicated above, past performance does not indicate future results.

Lifestyle Portfolios – Your account

JHT Portfolio

Lifestyle Aggressive Trust

(formerly Lifestyle Aggressive 1000 Trust)

Portfolio Corresponding to: Lifestyle Aggressive

Net assets of JHT Portfolio as of March 31, 2008: $514,809,181

JHT Series I calendar year total returns

Best quarter: Q2 ’03, 18.07% Worst quarter: Q3 ’02, –18.84%

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

4.79

14.55

–5.12

–13.83

–20.71

34.91

16.06

10.64

15.46

8.55

[BAR CHART]


									Since
JHT Series I average annual total returns (%)	1 year		3 year		5 year		10 year		inception

for periods ended 3-31-08

Series I		–5.21		7.87		15.49		3.24		4.73

Standard & Poor’s 500 Index		–5.08		5.85		11.32		3.50		6.86

Indexes have no sales charges and cannot be invested in directly. All figures assume dividend reinvestment.

MORNINGSTAR RATING^tm

« « « «

Overall rating for JHT Series I among 1,664 large blend funds as of March 31, 2008.

Morningstar ratings measure risk-adjusted returns. The Overall Morningstar Rating^tm for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics. The JHT portfolio (Series I) was rated 4 stars out of 1,664, 5 stars out of 1,314 and 3 stars out of 621 large blend funds for the 3-, 5- and 10-year periods ended March 31, 2008, respectively, in the U.S. open-end fund universe.

The Class R, R1, R2, R3, R4 and R5 shares of the Lifestyle Portfolios currently do not have Morningstar ratings. Any future ratings assigned to Class R, R1, R2, R3, R4 and R5 shares of a Lifestyle Portfolio may be different from the Morningstar Rating^tm for the Series I shares of the corresponding JHT portfolio because such ratings will reflect, among other things, the different expenses of the Class R, R1, R2, R3, R4 and R5 shares of the Lifestyle Portfolio.

Lifestyle Portfolios – Appendix

JHT Portfolio

Lifestyle Growth Trust

(formerly Lifestyle Growth 820 Trust)

Corresponding to: Lifestyle Growth Portfolio

Net assets of JHT Portfolio as of March 31, 2008: $13,179,264,140

JHT Series I calendar year total returns

Best quarter: Q2 ’03, 14.90% Worst quarter: Q3 ’02, –14.50%

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

6.14

16.50

–3.18

–9.16

–15.84

29.55

14.59

8.66

13.50

7.44

[BAR CHART]


JHT Series I average annual									Since
total returns (%)	1 year		3 years		5 years		10 years		inception

for periods ended 3-30-08

Series I		−3.44		7.28		13.30		4.27		5.81

Standard & Poor’s 500 Index		−5.08		5.85		11.32		3.50		6.86

Lehman Brothers U.S. Aggregate Index		7.67		5.48		4.58		6.04		6.41

Combined Index		−2.52		5.85		10.03		4.22		7.11

Combined Index — consists of 80% of the S&P 500 Index and 20% of the Lehman Brothers U.S. Aggregate Index.

Indexes have no sales charges and cannot be invested in directly. All figures assume dividend reinvestment.

MORNINGSTAR RATING^tm

« « « «

Overall rating for JHT Series I among 1,664 large blend funds as of March 31, 2008.

Morningstar ratings measure risk-adjusted returns. The Overall Morningstar Rating^tm for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics. The JHT portfolio (Series I) was rated 4 stars out of 1,664, 4 stars out of 1,314 and 4 stars out of 621 large blend funds for the 3-, 5- and 10-year periods ended March 31, 2008, respectively, in the U.S. open-end fund universe.

Lifestyle Portfolios – Appendix

JHT Portfolio

Lifestyle Balanced Trust

(formerly Lifestyle Balanced 640 Trust)

Corresponding to: Lifestyle Balanced Portfolio

Net assets of JHT Portfolio as of March 31, 2008: $10,094,057,956

JHT Series I calendar year total returns

Best quarter: Q2 ’03, 11.64% Worst quarter: Q3 ’98, –10.36%

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

5.67

12.36

2.34

–4.85

–9.95

23.97

13.49

6.88

12.73

6.47

[BAR CHART]


JHT Series I average annual									Since
total returns (%)	1 year		3 years		5 years		10 years		inception

for periods ended 3-31-08

Series I		−1.93		6.98		11.43		5.12		6.44

Standard & Poor’s 500 Index		−5.08		5.85		11.32		3.50		6.86

Lehman Brothers U.S. Aggregate Index		7.67		5.48		4.58		6.04		6.41

Combined Index		0.03		5.82		8.72		4.83		7.09

Combined Index — consists of 60% of the S&P 500 Index and 40% of the Lehman Brothers U.S. Aggregate Index.

Indexes have no sales charges and cannot be invested in directly. All figures assume dividend reinvestment.

MORNINGSTAR RATING^tm

« « « «

Overall rating for JHT Series I among 905 moderate allocation funds as of March 31, 2008.

Morningstar ratings measure risk-adjusted returns. The Overall Morningstar Rating^tm for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics. The JHT portfolio (Series I) was rated 4 stars out of 905, 4 stars out of 712 and 3 stars out of 416 moderate allocation funds for the 3-, 5-and 10-year periods ended March 31, 2008, respectively, in the U.S. open-end fund universe.

Lifestyle Portfolios – Appendix

JHT Portfolio

Lifestyle Moderate Trust

(formerly Lifestyle Moderate 460 Trust)

Corresponding to: Lifestyle Moderate Portfolio

Net assets of JHT Portfolio as of March 31, 2008: $2,453,223,600

JHT Series I calendar year total returns:

Best quarter: Q2 ’03, 8.71% Worst quarter: Q3 ’02, –5.57%

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

9.75

7.84

3.92

–1.09

–4.07

17.83

11.04

4.15

10.42

5.29

[BAR CHART]


									Since
JHT Series I average annual total returns (%)	1 year		3 year		5 year		10 year		inception

for periods ended 3-31-08

Series I		−0.38		5.80		8.86		5.31		6.48

Standard & Poor’s 500 Index		−5.08		5.85		11.32		3.50		6.86

Lehman Brothers U.S. Aggregate Index		7.67		5.48		4.58		6.04		6.41

Combined Index		2.59		5.75		7.37		5.34		6.96

Combined Index — consists of 40% of the S&P 500 Index and 60% of the Lehman Brothers Aggregate Bond Index.

Indexes have no sales charges and cannot be invested in directly. All figures assume dividend reinvestment.

MORNINGSTAR RATING^tm

« « « «

Overall rating for JHT Series I among 905 moderate allocation funds as of March 31, 2008.

Morningstar ratings measure risk-adjusted returns.

The Overall Morningstar Rating^tm for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics. The JHT portfolio (Series I) was rated 3 stars out of 905, 3 stars out of 712 and 4 stars out of 416 moderate allocation funds for the 3-, 5- and 10-year periods ended March 31, 2008, respectively, in the U.S. open-end fund universe.

Lifestyle Portfolios – Appendix

JHT Portfolio

Lifestyle Conservative Trust

(formerly Lifestyle Conservative 280 Trust)

Portfolio Corresponding to: Lifestyle Conservative

Net assets of JHT Portfolio as of March 31, 2008: $1,257,031,038


JHT Series I calendar year total returns

Best quarter: Q4 ’02, 6.12% Worst quarter: Q2 ’04, –2.08%



1998	1999	2000	2001	2002	2003	2004	2005	2006	2007
10.20	4.18	7.54	3.28	1.80	11.47	8.59	2.88	8.44	5.38

[BAR CHART]


JHT Series I average annual									Since
total returns (%)	1 year		3 year		5 year		10 year		inception

for periods ending 12-31-07

Series I		2.58		5.67		6.97		5.82		6.62

Standard & Poor’s 500 Index		−5.08		5.85		11.32		3.50		6.86

Lehman Brothers U.S. Aggregate Index		7.67		5.48		4.58		6.04		6.41

Combined Index		5.13		5.63		5.99		5.74		6.72

Combined Index — consists of 20% of the S&P 500 Index and 80% of the Lehman Brothers U.S. Aggregate Index.

Indexes have no sales charges and cannot be invested in directly. All figures assume dividend reinvestment.

MORNINGSTAR RATING^tm

« « « «

Overall rating for JHT Series I among 407 conservative allocation funds as of March 31, 2008.

Morningstar ratings measure risk-adjusted returns. The Overall Morningstar Rating^tm for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics. The JHT portfolio (Series I) was rated 4 stars out of 407, 3 stars out of 265 and 4 stars out of 126 conservative allocation funds for the 3-, 5- and 10-year periods ended March 31, 2008, respectively, in the U.S. open-end fund universe.

Lifestyle Portfolios – Appendix

Two documents are available with further information on the funds:

Annual/Semiannual report to shareholders

Includes financial statements, a discussion of the market conditions and investment strategies that significantly affected performance, as well as the auditors report (in annual report only).

Statement of Additional Information (SAI)

To obtain a free copy of these documents

There are several ways you can get a current annual/semiannual report or SAI from John Hancock:

Online: www.jhfunds.com


By mail:	John Hancock Signature Services, Inc. P.O. Box 9510 Portsmouth, NH 03802-9510

By phone: 1-888-972-8696

By TDD: 1-800-554-6713

You can also view or obtain copies of these documents through
the SEC:

Online: www.sec.gov

By e-mail (duplicating fee required): publicinfo@sec.gov


By mail (duplicating fee required):	Public Reference Section Securities and Exchange Commission Washington, DC 20549-0102

In person: at the SEC’s Public Reference Room in Washington, DC.
For access to the Reference Room, call 1-202-551-8090.

John Hancock Funds, LLC

MEMBER FINRA

601 Congress Street

Boston, MA 02210-2805

www.jhfunds.com

Electronic delivery now available at

www.jhfunds.com/edelivery

Table of contents

Fund summaries

A concise look at each fund’s investment goal, its main strategies and main risks, its past performance and the costs of investing.


3		Lifestyle Growth Portfolio

5		Lifestyle Balanced Portfolio

7		Lifestyle Moderate Portfolio

Fund details

More about topics covered in the summary section, including descriptions of the various risk factors that investors should understand before investing.


9		Other permitted investments

9		Risks of investing in the fund of funds

10		Risks of investing in the underlying funds

11		Who’s who

13		Financial highlights

15		Underlying fund information

Your account

How to place an order to buy, sell or exchange fund shares, as well as information about each fund’s business policies and any distributions it may pay.


17		Who can buy shares

17		Class cost structure

17		Information for plan participants

17		Transaction policies

19		Dividends and account policies

19		Additional investor services

		For more information See back cover

Lifestyle Portfolios Overview

There are three funds: Growth, Balanced and Moderate. Each fund is a “fund of funds” that invests in a number of underlying funds.

Because investors have different investment goals, risk tolerances, investment time horizons and financial circumstances, the funds offer three distinct, comprehensive investment programs designed for differing investment orientations. Each fund has a target percentage allocation between two kinds of underlying funds: those that invest primarily in equity securities and those that invest primarily in fixed-income securities.

Target allocation among underlying funds (%)


		Equity		Fixed-income
Portfolio	Investment Objective	funds		funds


Lifestyle Growth	Long-term growth of capital. Current income is also a consideration.		80		20

Lifestyle Balanced	A balance between a high level of current income and growth of capital, with a greater emphasis on growth of capital.		60		40

Lifestyle Moderate	A balance between a high level of current income and growth of capital, with a greater emphasis on income.		40		60

Each fund invests in Class NAV shares of affiliated underlying funds. Class NAV shares are sold without any sales charge and are not subject to distribution or Rule 12b-1 fees. The funds may also invest in similar Class NAV shares and in classes of shares of nonaffiliated funds that could have sales charges and be subject to distribution and/or Rule 12b-1 fees.

Fund summary

John Hancock

Day-to-day investment management: MFC Global Investment Management (U.S.A.) Limited

Goal and strategy

The fund seeks long-term growth of capital. Current income is also a consideration.

Variations in the target percentage allocation between underlying funds that invest primarily in equity securities and underlying funds that invest primarily in fixed-income securities are permitted up to 10% in either direction. Thus, based on its target percentage allocation of approximately 80% of assets in equity underlying funds and 20% in fixed-income underlying funds, the fund may have an equity/fixed-income underlying fund allocation of 90%/10% or 70%/30%. Although variations beyond the 10% range are generally not permitted, the subadviser may determine in light of market or economic conditions that the normal percentage limitations should be exceeded to protect the fund or to achieve its goal.

Main risks

Equity securities risk The value of a company’s equity securities is subject to changes in the company’s financial condition and overall market and economic conditions.

Exchange traded funds risk Owning an ETF generally reflects the risks of owning the underlying securities it is designed to track.

Fixed-income securities risk A rise in interest rates typically causes bond prices to fall. The longer the average maturity, of the bonds held by the fund, the more sensitive the fund is likely to be to interest rate changes. There is the possibility that the issuer of the security will not repay all or a portion of the principal borrowed and will not make all interest payments.

Fund of funds risk The fund is subject to the performance of the underlying funds in which it invests.

Investment company securities risk The fund bears its own expenses and indirectly bears its proportionate share of expenses of the underlying funds in which it invests.

Management risk The fund team’s investment strategy may fail to produce the intended result.

Lifestyle Growth Portfolio – Fund summary

Past performance

Calendar year total returns – Class 5 (%)

Best quarter: Q2 ’07, 5.07 Worst quarter: Q4 ’07, −1.94

2007

7.42

[BAR CHART]


Average annual total returns (%)	1 Year		Inception

as of 12-31-07				7-3-06

Class 5 before tax		7.42		11.66

After tax on distributions		5.76		9.20

After tax on distributions, with sale		4.98		8.58

80% Standard & Poor’s 500 Index/20% Lehman Brothers U.S. Aggregate Index		5.88		11.52	¹

Calendar year total returns

Average annual total returns

Performance of broad-based indexes is included for comparison. Indexes have no sales charges and you cannot invest in them directly. All figures assume dividend reinvestment.

After-tax returns They reflect the highest individual federal marginal income tax rates in effect at the time and do not reflect any state or local taxes. Your actual after-tax returns may be different. After-tax returns are not relevant to shares held in an IRA, 401(k) or other tax-advantaged investment plan.

Standard & Poor’s 500 Index is an unmanaged index that includes 500 widely traded common stocks.

Lehman Brothers U.S. Aggregate Index is an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.


1		Index figure as of closest month end to inception date.

Investor costs


Annual operating expenses (%)	Class 5

Management fee²		0.04

Other expenses		0.02

Acquired fund fees and expenses		0.88

Total fund operating expenses³		0.94

Expense example


Expenses ($)	Class 5

1 Year		96

3 Years		300

5 Years		520

10 Years		1,155

Annual operating expenses

These are paid from fund assets; shareholders, therefore, pay these costs indirectly.


2		The adviser intends to waive its advisory fee or reimburse the fund in an amount such that, with respect to such other assets, the sum of (i) the advisory fee paid by the fund to the adviser and (ii) the advisory fee paid by the underlying fund to and retained (after payment of any subadvisory fee) by the adviser or its affiliate, does not exceed an annual rate of 0.50%. See “Fund details — Management fees” for further information.

3		The Total fund operating expenses include fees and expenses incurred indirectly by the fund as a result of its investment in other investment companies (e.g., underlying funds) (each, an Acquired fund). The Total fund annual expenses shown may not correlate to the fund’s ratio of expenses to average net assets shown in the Financial highlights section, which does not include Acquired Fund fees and expenses.

Lifestyle Growth Portfolio – Fund summary

Fund summary

John Hancock

Day-to-day investment management: MFC Global Investment Management (U.S.A.) Limited

Goal and strategy

The fund seeks a balance between a high level of current income and growth of capital, with a greater emphasis on growth of capital.

To pursue this goal, the fund, which is a fund of funds, normally invests approximately 60% of its assets in underlying funds that invest primarily in equity securities and approximately 40% in underlying funds that invest primarily in fixed-income securities.

Variations in the target percentage allocation between underlying funds that invest primarily in equity securities and underlying funds that invest primarily in fixed-income securities are permitted up to 10% in either direction. Thus, based on its target percentage allocation of approximately 60% of assets in equity underlying funds and 40% in fixed-income underlying funds, the fund may have an equity/fixed-income underlying funds allocation of 70%/30% or 50%/50%. Although variations beyond the 10% range are generally not permitted, the subadviser may determine in light of market or economic conditions that the normal percentage limitations should be exceeded to protect the fund or to achieve its goal.

Within the prescribed percentage allocation, the subadviser selects the percentage level to be maintained in specific underlying funds. The assets of the fund are rebalanced quarterly to maintain the selected percentage level. The subadviser may from time to time adjust the percentage of assets invested in any specific underlying funds to increase or decrease the fund’s holdings of particular assets classes, such as common stocks of foreign issuers, to adjust fund quality or the duration of fixed-income securities, to increase or reduce the percentage of the fund’s assets subject to the management of a particular subadviser or to reflect fundamental changes in the investment environment.

The fund may invest in various underlying funds that as a group hold a wide range of equity type securities in their funds. These include small-, mid- and large-capitalization stocks; domestic and foreign securities (including emerging market securities); and sector holdings, such as utilities and science and technology stocks. In addition to investing in exchange traded funds (ETFs), the fund may also invest in the securities of other investment companies and may make direct investments in other types of investments. Each of the underlying funds has its own investment strategy which, for example, may focus on growth stocks or value stocks or may employ a strategy combining growth and income stocks and/or may invest in derivatives such as options on securities and futures contracts. Certain of the underlying funds in which the fund invests focus their investment strategy on fixed-income securities, which may include investment grade and below investment grade debt securities with maturities that range from short to longer term. The fixed-income underlying funds collectively hold various types of debt instruments, such as corporate bonds and mortgage-backed, government-issued, domestic and international securities.

Main risks

Exchange traded funds risk Owning an ETF generally reflects the risks of owning the underlying securities it is designed to track.

Fund of funds risk The fund is subject to the performance of the underlying funds in which it invests.

Investment company securities risk The fund bears its own expenses and indirectly bears its proportionate share of expenses of the underlying funds in which it invests.

Management risk The fund team’s investment strategy may fail to produce the intended result.

Lifestyle Balanced Portfolio – Fund summary

Past performance

Calendar year total returns – Class 5 (%)

Best quarter: Q2 ’07, 3.56 Worst quarter: Q4 ’07, −1.34

2007

6.35

[BAR CHART]


Average annual total returns (%)	1 Year		Inception

as of 12-31-07				7-03-06

Class 5 before tax		6.35		10.87

After tax on distributions		4.60		8.26

After tax on distributions, with sale		4.21		7.79

60% Standard & Poor’s 500 Index/40% Lehman Brothers U.S. Aggregate Index		6.22		10.73	¹

Calendar year total returns

Average annual total returns

Performance of broad-based indexes is included for comparison. Indexes have no sales charges and you cannot invest in them directly.

After-tax returns They reflect the highest individual federal marginal income tax rates in effect at the time, and do not reflect any state or local taxes. Your actual after-tax returns may be different. After-tax returns are not relevant to shares held in an IRA, 401(k) or other tax-advantaged investment plan.

Standard & Poor’s 500 Index is an unmanaged index that includes 500 widely traded common stocks.

Lehman Brothers U.S. Aggregate Index is an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.


1		Index figure as of closest month end to inception date.

Investor costs


Annual operating expenses (%)	Class 5

Management fee²		0.04

Other expenses		0.02

Acquired fund fees and expenses		0.86

Total fund operating expenses³		0.92

Expense example


Expenses ($)	Class 5

1 Year		94

3 Years		293

5 Years		509

10 Years		1,131

Annual operating expenses

These are paid from fund assets; shareholders therefore pay these costs indirectly. The fund has no shareholder transaction expenses.


2		The adviser intends to waive its advisory fee or reimburse the fund in an amount such that, with respect to such other assets, the sum of (i) the advisory fee paid by the fund to the adviser and (ii) the advisory fee paid by the underlying fund to and retained (after payment of any subadvisory fee) by the adviser or its affiliate, does not exceed an annual rate of 0.50%. See “Fund details — Management fees” for further information.

3		The Total fund operating expenses include fees and expenses incurred indirectly by the fund as a result of its investment in other investment companies (e.g., underlying funds) (each, an Acquired fund). The Total fund annual expenses shown may not correlate to the fund’s ratio of expenses to average net assets shown in the Financial highlights section, which does not include Acquired Fund fees and expenses.

Lifestyle Balanced Portfolio – Fund summary

Fund summary

John Hancock

Day-to-day investment management: MFC Global Investment Management (U.S.A.) Limited

Goal and strategy

The fund seeks a balance between a high level of current income and growth of capital, with a greater emphasis on income.

Variations in the target percentage allocation between underlying funds that invest primarily in equity securities and underlying funds that invest primarily in fixed-income securities are permitted up to 10% in either direction. Thus, based on its target percentage allocation of approximately 40% of assets in equity underlying funds and 60% in fixed-income underlying funds, the fund may have an equity/fixed-income underlying fund allocation of 50%/50% or 30%/70%. Although variations beyond the 10% range are generally not permitted, the subadviser may determine in light of market or economic conditions that the normal percentage limitations should be exceeded to protect the fund or to achieve its goal.

Within the prescribed percentage allocation, the subadviser selects the percentage level to be maintained in specific underlying funds. The assets of the fund are rebalanced quarterly to maintain the selected percentage level. The subadviser may from time to time adjust the percentage of assets invested in any specific underlying funds to increase or decrease the fund’s holdings of particular assets classes, such as common stocks of foreign issuers, to adjust fund quality or the duration of fixed-income securities, to increase or reduce the percentage of the fund’s assets subject to the management of a particular subadviser or to reflect fundamental changes in the investment environment.

The fund may invest in various underlying funds that as a group hold a wide range of equity type securities in their funds. These include small-, mid- and large-capitalization stocks; domestic and foreign securities (including emerging market securities); and sector holdings, such as utilities and science and technology stocks. In addition to investing in exchange traded funds (ETFs), the fund may also invest in the securities of other investment companies and may make direct investments in other types of investments. Each of the underlying funds has its own investment strategy which, for example, may focus on growth stocks or value stocks or may employ a strategy combining growth and income stocks and/or may invest in derivatives such as options on securities and futures contracts. Certain of the underlying funds in which the fund invests focus their investment strategy on fixed-income securities, which may include investment grade and below investment grade debt securities with maturities that range from short to longer term. The fixed-income underlying funds collectively hold various types of debt instruments, such as corporate bonds and mortgage-backed, government-issued, domestic and international securities.

Main risks

Exchange traded funds risk Owning an ETF generally reflects the risks of owning the underlying securities it is designed to track.

Fund of funds risk The fund is subject to the performance of the underlying funds in which it invests.

Investment company securities risk The fund bears its own expenses and indirectly bears its proportionate share of expenses of the underlying funds in which it invest.

Management risk The fund team’s investment strategy may fail to produce the intended result.

Lifestyle Moderate Portfolio – Fund summary

Past performance

Calendar year total returns – Class 5 (%)

Best quarter: Q3 ’07, 2.02 Worst quarter: Q4 ’07, –0.43

2007

5.39

[BAR CHART]


Average annual total returns (%)	1 Year		Inception

as of 12-31-07				7-3-06

Class 5 before tax		5.39		9.21

After tax on distributions		3.68		6.70

After tax on distributions, with sale		3.55		6.41

40% Standard & Poor’s 500 Index/60% Lehman Brothers U.S. Aggregate Index		6.52		9.90	¹

Calendar year total returns

Average annual total returns

Performance of broad-based indexes is included for comparison. Indexes have no sales charges and you cannot invest in them directly.

Standard & Poor’s 500 Index is an unmanaged index that includes 500 widely traded common stocks.

Lehman Brothers U.S. Aggregate Index is an unmanaged index of dollar-denominated and non-convertible investment-grade debt issues.


1		Index figure as of closest month end to inception date.

Investor costs


Annual operating expenses (%)	Class 5

Management fee²		0.04

Other expenses		0.02

Acquired fund fees and expenses		0.83

Total fund operating expenses³		0.89

Expense example


Expenses ($)	Class 5

1 Year		91

3 Years		284

5 Years		493

10 Years		1,096

Annual operating expenses

These are paid from fund assets; shareholders therefore pay these costs indirectly. The fund has no shareholder transaction expenses.


2		The adviser intends to waive its advisory fee or reimburse the fund in an amount such that, with respect to such other assets, the sum of (i) the advisory fee paid by the fund to the adviser and (ii) the advisory fee paid by the underlying fund to and retained (after payment of any subadvisory fee) by the adviser or its affiliate, does not exceed an annual rate of 0.50%. See “Fund details — Management fees” for further information.

3		The Total fund operating expenses include fees and expenses incurred indirectly by the fund as a result of its investment in other investment companies (e.g., underlying funds) (each, an Acquired fund). The Total fund annual expenses shown may not correlate to the fund’s ratio of expenses to average net assets shown in the Financial highlights section, which does not include Acquired Fund fees and expenses.

Lifestyle Moderate Portfolio – Fund summary

Fund details

Risks of investing in the fund of funds

The Fund may directly:


•	Purchase U.S. government securities and short-term paper.

•	Purchase shares of other registered open-end investment companies (and registered unit investment trusts) within the same “group of investment companies” as that term is defined in Section 12 of the Investment Company Act of 1940 (1940 Act).

•	Purchase shares of other registered open-end investment companies (and registered unit investment trusts) where the adviser is not the same as, or affiliated with, the adviser to the Fund, including ETFs.

•	Invest in equity securities, which may include common and preferred stocks of large-, medium- and small-capitalization companies in both developed (including the U.S.) and emerging markets.

•	Invest in fixed-income securities, which may include debt securities of governments throughout the world (including the U.S.), their agencies and instrumentalities, debt securities of corporations and supranationals, inflation protected securities, convertible bonds, mortgage-backed securities, asset-backed securities and collateralized debt securities. Investments in fixed-income securities may include securities of issuers in both developed (including the U.S.) and emerging markets and may include fixed-income securities rated below investment grade.

•	Purchase securities of registered closed-end investment companies that are part of the same “group of investment companies” as that term is defined in Section 12 of the 1940 Act.

•	Invest up to 15% of its net assets in illiquid securities of such entities as limited partnerships and other pooled investment vehicles such as hedge funds.

•	Make short sales of securities (borrow and sell securities not owned by the fund), either to realize appreciation when a security that the fund does not own declines in value or as a hedge against potential declines in the value of a Fund security.

•	Invest in publicly traded partnerships, including publicly traded partnerships that invest principally in commodities or commodities-linked derivatives.

The fund may use various investment strategies such as hedging and other related transactions. For example, the fund may use derivative instruments (such as options, futures and swaps) for hedging purposes, including hedging various market risks and managing the effective maturity or duration of debt instruments held by the fund. In addition, these strategies may be used to gain exposure to a particular securities market. The fund may also purchase and sell commodities and may enter into swap contracts and other commodity-linked derivative instruments including those linked to physical commodities. Please refer to “Risk of hedging and other strategic transactions” in the Statement of Additional Information (SAI).

Because of uncertainties under federal tax laws as to whether income from commodity-linked derivative instruments would constitute “qualifying income” to a regulated investment company, the fund is not permitted to invest in such instruments unless the subadviser obtains prior written approval from the Fund’s Chief Compliance Officer. See “Additional information concerning taxes” in the SAI.

Asset allocation management

Temporary defensive investing

The fund may invest up to 100% of its assets in cash or money market instruments for the purpose of:


•	meeting redemption requests,

•	making other anticipated cash payments, or

•	protecting the fund in the event the subadviser determines that market or economic conditions warrant a defensive posture.

To the extent the fund is in a defensive position, its ability to achieve its investment goal will be limited.

Exchange traded funds (ETFs) risk

Fund of funds risk

A fund’s ability to achieve its investment goal will depend largely on the ability of the subadviser to select the appropriate mix of underlying funds. In addition, achieving a fund’s objective will depend on the performance of the underlying funds which depends on the underlying funds’ ability to meet their investment objectives. There can be no assurance that either the fund or the underlying funds will achieve their investment objective.

Lifestyle Portfolios – Fund details

Investment company securities risk

The funds bear their own expenses and indirectly bear their proportionate share of expenses of the underlying funds in which they invest.

Equity securities risk.

Equity securities include common, preferred and convertible preferred stocks and securities the values of which are tied to the price of stocks, such as rights, warrants and convertible debt securities. Common and preferred stocks represent equity ownership in a company. Stock markets are volatile. The price of equity securities will fluctuate and can decline and reduce the value of a fund investing in equities. The price of equity securities fluctuates based on changes in a company’s financial condition and overall market and economic conditions. The value of equity securities purchased by a fund could decline if the financial condition of the companies the funds are invested in decline or if overall market and economic conditions deteriorate. Even funds that invest in high quality or “blue chip” equity securities or securities of established companies with large market capitalizations (which generally have strong financial characteristics) can be negatively impacted by poor overall market and economic conditions. Companies with large market capitalizations may also have less growth potential than smaller companies and may be able to react less quickly to changes in the marketplace. The funds may maintain substantial exposure to equities and generally do not attempt to time the market. Because of this exposure, the possibility that stock market prices in general will decline over short or extended periods subjects the funds to unpredictable declines in the value of their investments, as well as periods of poor performance.

Fixed-income securities risk.

Fixed income securities are generally subject to two principal types of risks: (a) interest rate risk and (b) credit quality risk.

Dependence on subadviser’s own credit analysis. While the subadviser may rely on ratings by established credit rating agencies, it

Lifestyle Portfolios – Fund details

Foreign securities risk

Funds that invest in securities traded principally in securities markets outside the United States are subject to additional and more varied risks, as the value of foreign securities may change more rapidly and extremely than the value of U.S. securities. The securities markets of many foreign countries are relatively small, with a limited number of companies representing a small number of industries. Additionally, issuers of foreign securities may not be subject to the same degree of regulation as U.S. issuers. Reporting, accounting and auditing standards of foreign countries differ, in some cases significantly, from U.S. standards. There are generally higher commission rates on foreign portfolio transactions, transfer taxes, higher custodial costs and the possibility that foreign taxes will be charged on dividends and interest payable on foreign securities. Also, for lesser developed countries, nationalization, expropriation or confiscatory taxation, adverse changes in investment or exchange control regulations (which may include suspension of the ability to transfer currency from a country), political changes or diplomatic developments could adversely affect a fund’s investments. In the event of nationalization, expropriation or other confiscation, a fund could lose its entire investment in a foreign security.

Management risk

A fund is subject to management risk because it relies on the subadviser’s ability to pursue its objective. The subadviser will apply investment techniques and risk analyses in making investment decisions for the fund, but there can be no guarantee that these will produce the desired results. The subadviser may fail to use derivatives effectively, for example, choosing to hedge or not to hedge positions precisely when it is least advantageous to do so. Funds generally do not attempt to time the market and instead generally stay fully invested in the relevant asset class, such as domestic equities or foreign equities. Notwithstanding its benchmark, a fund may buy securities not included in its benchmark or hold securities in very different proportions than its benchmark. To the extent a fund invests in those securities, its performance depends on the ability of the subadviser to choose securities that perform better than securities that are included in the benchmark.

These investment strategies and securities are described further in the SAI.

Below are the names of the various entities involved with the funds’ investment and business operations, along with brief descriptions of the role each entity performs.

Trustees

Investment adviser

Manages the funds’ business and investment activities.

John Hancock Investment Management Services, LLC
601 Congress Street
Boston, MA 02210-2805

The adviser does not itself manage any of the fund’s portfolio assets but has ultimate responsibility to oversee the subadviser. In this connection, the adviser: (i) monitors the compliance of the subadviser with the investment objectives and related policies of the fund, (ii) reviews the performance of the subadviser, and (iii) reports periodically on such performance to the Board of Trustees.

The fund relies on an order from the SEC permitting the adviser, subject to Board approval, to appoint a subadviser or change the terms of a subadvisory agreement without obtaining shareholder approval. The fund, therefore, is able to change subadvisers or the fees paid to

Lifestyle Portfolios – Fund details

subadvisers from time to time without the expense and delays associated with obtaining shareholder approval of the change. This order does not, however, permit the adviser to appoint a subadviser that is an affiliate of the adviser or the fund (other than by reason of serving as a subadviser to a fund) or to change a subadvisory fee of a subadviser without the approval of the shareholders.

Management fees

Each fund pays the adviser a management fee for its services to the fund. The management fee has two components: (a) a fee on assets invested in a fund of John Hancock Funds II (JHF II) or John Hancock Funds III (JHF III), and (b) a fee on assets invested in investments other than a fund of JHF II or JHF III (other assets).

The fee on assets invested in a fund of JHF II or JHF III is stated as an annual percentage of the current value of the aggregate net assets of the fund, the four other Lifestyle funds, and of the five corresponding Lifestyle Trusts of John Hancock Trust (JHT) (but only for the period during which the subadviser to the fund also serves as the subadviser for such other JHT and JHF II funds); determined in accordance with the following schedule.

Advisory fee on assets invested in a fund of JHF II or JHF III

The fee on other assets is stated as an annual percentage of the current value of the aggregate net assets of the fund, the four other Lifestyle funds, and of the five corresponding Lifestyle Trusts of JHT (but only for the period during which the subadviser to the fund also serves as the subadviser for such other JHT and JHF II funds); determined in accordance with the following schedule.

Advisory fee on other assets

Lifestyle Growth Portfolio: 0.041%
Lifestyle Balanced Portfolio: 0.041%
Lifestyle Moderate Portfolio: 0.041%

Out of these fees, the investment adviser in turn paid the fees of the subadviser and certain other service providers.

Subadviser

Handles the funds’ day-to-day fund management.

MFC Global Investment Management (U.S.A.) Limited
200 Bloor Street East
Toronto, Ontario, Canada M4W 1E5


•	provides investment advisory services to individual and institutional investors and is a wholly owned subsidiary of Manulife Financial Corporation

•	as of December 31, 2007, it and its affiliates had total assets under management of approximately $217 billion

•	supervised by the adviser, John Hancock Investment Management Services, LLC

Subadviser consultant

Deutsche Investment Management Americas, Inc.
345 Park Avenue
New York, NY 10154


•	provides subadvisory consulting services to the subadviser in its management of the funds

•	provides investment advisory services to retail and institutional clients

•	is a wholly owned subsidiary of Deutsche Bank AG, an international commercial and investment banking group

Portfolio Managers

Below are brief biographical profiles of the funds’ investment management team, in alphabetical order. The managers share portfolio management responsibilities. For more about these individuals, including information about their compensation, other accounts they manage and any investments they may have in the funds, see the SAI.

Steve Orlich


•	portfolio manager since inception

•	joined MFC Global Investment Management (U.S.A.) Limited in 1998

•	Vice president and senior portfolio manager, Asset Allocation Portfolios

Scott Warlow


•	portfolio manager since 2007

•	joined MFC Global Investment Management (U.S.A.) Limited in 2002

•	Assistant vice president and portfolio manager, Asset Allocation Portfolios

Custodian

Holds the funds’ assets, settles all portfolio trades and collects most of the valuation data required for calculating the funds’ net asset value (NAV).

State Street Bank & Trust Company
2 Avenue de Lafayette
Boston, MA 02111

Principal distributor

Markets the funds and distributes shares through selling brokers, financial planners and other financial representatives.

John Hancock Funds, LLC
601 Congress Street
Boston, MA 02210-2805

Transfer agent

Handles shareholder services, including recordkeeping and statements, distribution of dividends and processing of buy and sell requests.

John Hancock Signature Services, Inc.
P.O. Box 9510
Portsmouth, NH 03802-9510

Lifestyle Portfolios – Fund details

Underlying fund information

Lifestyle Growth Class 5 Shares


Per share operating performance	period ended 8-31-06¹³			12-31-06⁵			12-31-07

Net asset value, beginning of period		$14.40			$14.62			$14.66

Income (loss) from investment operations

Net investment income (loss)^1,2		—	¹¹		0.24			0.37

Net realized and unrealized gain (loss) on investments		0.22			0.97			0.70

Total from investment operations		0.22			1.21			1.07

Less distributions

From net investment income		—			(0.48	)		(0.30	)

From net realized gain		—			(0.36	)		(0.45	)

From capital paid-in		—			(0.33	)		—

Total distributions		—			(1.17	)		(0.75	)

Net asset value, end of period		$14.62			$14.66			$14.98

Total return³ (%)		1.53	⁷		8.24	⁷		7.42	⁶

Ratios and supplemental data

Net assets, end of period (in millions)		$3			$15			$46

Ratios to average net assets

Ratio of gross expenses to average net assets⁴ (%)		0.06	⁹		0.06	⁹		0.06

Ratio of net expenses to average net assets⁴ (%)		0.06	⁹		0.06	⁹		0.06	¹⁴

Ratio of net investment income (loss) to average net assets¹ (%)		(0.02	)⁹		4.68	⁹		2.39

Portfolio turnover (%)		26	⁷		4	⁷		18


Lifestyle Balanced Class 5 Shares
Per share operating performance	period ended 8-31-06¹³			12-31-06⁵			12-31-07

Net asset value, beginning of period		$14.17			$14.35			$14.32

Income (loss) from investment operations

Net investment income (loss)^1,2		—	¹¹		0.33			0.50

Net realized and unrealized gain (loss) on investments		0.31			0.74			0.40

Total from investment operations		0.31			1.07			0.90

Less distributions

From net investment income		(0.13	)		(0.45	)		(0.42	)

From net realized gain		—			(0.27	)		(0.32	)

From capital paid-in		—			(0.38	)		—

Total distributions		(0.13	)		(1.10	)		(0.74	)

Net asset value, end of period		$14.35			$14.32			$14.48

Total return³ (%)		2.23	⁷		7.42	⁷		6.35

Ratios and supplemental data

Net assets, end of period (in millions)		$1	⁹		$7	⁹		$19

Ratios to average net assets

Ratio of gross expenses to average net assets⁴ (%)		0.01	⁹		0.06	⁹		0.06

Ratio of net expenses to average net assets⁴ (%)		0.01	⁹		0.06	⁹		0.06	¹⁴

Ratio of net investment income (loss) to average net assets¹ (%)		(0.01	)⁹		6.63	⁹		3.39

Portfolio turnover (%)		23	⁷		3	⁷		14

Lifestyle Portfolios – Fund details

Financial highlights, continued

Lifestyle Moderate Class 5 Shares


Per share operating performance	period ended 8-31-06¹³			12-31-06⁵			12-31-07

Net asset value, beginning of period		$13.48			$13.62			$13.49

Income (loss) from investment operations

Net investment income (loss)^1,2		—	¹¹		0.34			0.53

Net realized and unrealized gain (loss) on investments		0.30			0.47			0.19

Total from investment operations		0.30			0.81			0.72

Less distributions

From net investment income		(0.16	)		(0.38	)		(0.48	)

From net realized gain		—			(0.21	)		(0.19	)

From capital paid-in		—			(0.35	)		—

Total distributions		(0.16	)		(0.94	)		(0.67	)

Net asset value, end of period		$13.62			$13.49			$13.54

Total return³ (%)		2.27	⁷		5.93	⁷		5.39

Ratios and supplemental data

Net assets, end of period (in millions)		$1			$3			$5

Ratios to average net assets

Ratio of gross expenses to average net assets⁴ (%)		0.01	⁹		0.06	⁹		0.06

Ratio of net expenses to average net assets⁴ (%)		0.01	⁹		0.06	⁹		0.06	¹⁴

Ratio of net investment income (loss) to average net assets¹ (%)		(0.01	)⁹		7.21	⁹		3.80

Portfolio turnover (%)		24	⁷		1	⁷		13


1		Recognition of net investment income by the Portfolio is affected by the timing of the declaration of dividends by the underlying funds in which the Portfolio invests.

2		Based on the average for the shares outstanding.

3		Assumes dividend reinvestment and does not reflect the effect of sales charges.

4		Does not include expenses of the underlying affiliated funds in which the Portfolio invests.

5		Effective January 18, 2007, the fiscal year-end changed from August 31 to December 31.

6		Total returns would have been lower had certain expenses not been reduced during the periods shown.

7		Not annualized.

8		Does not take into consideration expense reductions during the periods shown.

9		Annualized.

10		Class A, Class B, Class C, Class R3, Class R4 and Class R5 shares began operations on October 18, 2005; Class R, Class R1 and Class R2 began operations on September 18, 2006; and Class 1 shares began operation on October 15, 2005.

11		Less than $0.01 per share.

12		Less than $500,000.

13		Class 5 shares began operation on July 3, 2006.

14		Ratios do not include expenses indirectly incurred from underlying portfolios whose expense ratios can vary between 0.79% and 0.91% based on the mix of underlying portfolios held by the portfolio.

15		Includes transfer agent fee earned credits of less than 0.01% to average net assets.

Lifestyle Portfolios – Fund details

The funds invest primarily in underlying funds. Therefore, each fund’s investment performance is directly related to the investment performance of the underlying funds. Information regarding the underlying funds is available in the applicable fund’s prospectus and SAI. This prospectus is not an offer for any of the underlying funds. For copies of the prospectuses of the John Hancock underlying funds, which contain this and other information, visit our Web site at www.jhfunds.com.

As of March 31, 2008, the funds allocated assets to the underlying funds stated below.


Lifestyle Growth Portfolio


Underlying fund:		Subadviser:


All Cap Core Fund		Deutsche Investment Management Americas Inc.
All Cap Growth Fund		A I M Capital Management, Inc.
Blue Chip Growth Fund		T. Rowe Price Associates, Inc.
Capital Appreciation Fund		Jennison Associates LLC
Core Equity Fund		Legg Mason Capital Management, Inc.
Emerging Markets Value Fund		Dimensional Fund Advisors LP
Equity-Income Fund		T. Rowe Price Associates, Inc.
Floating Rate Income Fund		Western Asset Management Company
Fundamental Value Fund		Davis Selected Advisers, LP
Global Bond Fund		Pacific Investment Management Company LLC
Global Real Estate Fund		Deutsche Investment Management Americas Inc.
High Income Fund		MFC Global Investment Management (U.S.), LLC
High Yield Fund		Western Asset Management Company
Index 500 Fund		MFC Global Investment Management (U.S.A.) Limited
International Core Fund		Grantham, Mayo, Van Otterloo & Co. LLC
International Equity Index Fund		SSgA Funds Management, Inc.
International Opportunities Fund		Marsico Capital Management, LLC
International Small Cap Fund		Templeton Investment Counsel, LLC
International Small Company Fund		Dimensional Fund Advisors LP
International Value Fund		Templeton Investment Counsel, Inc.
Large Cap Fund		UBS Global Asset Management (Americas) Inc.
Large Cap Value Fund		BlackRock Investment Management, LLC
Mid Cap Index Fund		MFC Global Investment Management (U.S.A.) Limited
Mid Cap Intersection Fund		Wellington Management Company, LLP
Mid Cap Stock Fund		Wellington Management Company, LLP
Mid Cap Value Equity Fund		RiverSource Investments, LLC
Mid Cap Value Fund		Lord, Abbett & Co. LLC
Natural Resources Fund		Wellington Management Company, LLP
Optimized Value Fund		MFC Global Investment Management (U.S.A.) Limited
Real Estate Equity Fund		T. Rowe Price Associates, Inc.
Real Return Bond Fund		Pacific Investment Management Company LLC
Small Cap Fund		Independence Investments LLC
Small Cap Intrinsic Value Fund		MFC Global Investment Management (U.S.), LLC
Small Cap Opportunities Fund		Munder Capital Management
Small Company Growth Fund		A I M Capital Management, Inc.
Small Company Value Fund		T. Rowe Price Associates, Inc.
Spectrum Income Fund		T. Rowe Price Associates, Inc.
Strategic Bond Fund		Western Asset Management Company
Strategic Income Fund		MFC Global Investment Management (U.S.), LLC
Total Return Fund		Pacific Investment Management Company LLC
U.S. High Yield Bond Fund		Wells Capital Management, Incorporated
U.S. Multi-Sector Fund		Grantham, Mayo, Van Otterloo & Co. LLC
Value & Restructuring Fund		UST Advisers, Inc.
Vista Fund		American Century Investment Management, Inc.

Lifestyle Balanced Portfolio


Underlying fund:		Subadviser:


Active Bond Fund		Declaration Management & Research LLC and MFC Global Investment Management (U.S.), LLC
All Cap Core Fund		Deutsche Investment Management Americas Inc.
Blue Chip Growth Fund		T. Rowe Price Associates, Inc.
Capital Appreciation Fund		Jennison Associates LLC
Core Bond Fund		Wells Capital Management, Incorporated
Core Equity Fund		Legg Mason Capital Management, Inc.
Emerging Markets Value Fund		Dimensional Fund Advisors LP
Equity-Income Fund		T. Rowe Price Associates, Inc.
Floating Rate Income Fund		Western Asset Management Company
Fundamental Value Fund		Davis Selected Advisers, LP
Global Bond Fund		Pacific Investment Management Company LLC

Lifestyle Portfolios – Fund details


Global Real Estate Fund		Deutsche Investment Management Americas Inc.
High Income Fund		MFC Global Investment Management (U.S.), LLC
High Yield Fund		Western Asset Management Company
Index 500 Fund		MFC Global Investment Management (U.S.A.) Limited
International Core Fund		Grantham, Mayo, Van Otterloo & Co. LLC
International Opportunities Fund		Marsico Capital Management, LLC
International Small Cap Fund		Templeton Investment Counsel, LLC
International Value Fund		Templeton Investment Counsel, Inc.
Large Cap Fund		UBS Global Asset Management (Americas) Inc.
Large Cap Value Fund		BlackRock Investment Management, LLC
Mid Cap Index Fund		MFC Global Investment Management (U.S.A.) Limited
Mid Cap Stock Fund		Wellington Management Company, LLP
Natural Resources Fund		Wellington Management Company, LLP
Optimized Value Fund		MFC Global Investment Management (U.S.A.) Limited
Real Estate Equity Fund		T. Rowe Price Associates, Inc.
Real Return Bond Fund		Pacific Investment Management Company LLC
Small Company Growth Fund		A I M Capital Management, Inc.
Small Company Value Fund		T. Rowe Price Associates, Inc.
Spectrum Income Fund		T. Rowe Price Associates, Inc.
Strategic Bond Fund		Western Asset Management Company
Strategic Income Fund		MFC Global Investment Management (U.S.), LLC
Total Return Fund		Pacific Investment Management Company LLC
U.S. High Yield Bond Fund		Wells Capital Management, Incorporated
U.S. Multi-Sector Fund		Grantham, Mayo, Van Otterloo & Co. LLC
Value & Restructuring Fund		UST Advisers, Inc.

Lifestyle Moderate Portfolio


Underlying fund:		Subadviser:


Active Bond Fund		Declaration Management & Research LLC and MFC Global Investment Management (U.S.), LLC
Blue Chip Growth Fund		T. Rowe Price Associates, Inc.
Core Bond Fund		Wells Capital Management, Incorporated
Core Equity Fund		Legg Mason Capital Management, Inc.
Equity-Income Fund		T. Rowe Price Associates, Inc.
Floating Rate Income Fund		Western Asset Management Company
Fundamental Value Fund		Davis Selected Advisers, LP
Global Bond Fund		Pacific Investment Management Company LLC
Global Real Estate Fund		Deutsche Investment Management Americas Inc.
High Income Fund		MFC Global Investment Management (U.S.), LLC
High Yield Fund		Western Asset Management Company
International Core Fund		Grantham, Mayo, Van Otterloo & Co. LLC
International Equity Index Fund		SSgA Funds Management, Inc.
International Opportunities Fund		Marsico Capital Management, LLC
International Value Fund		Templeton Investment Counsel, Inc.
Investment Quality Bond Fund		Wellington Management Company, LLP
Mid Cap Index Fund		MFC Global Investment Management (U.S.A.) Limited
Real Estate Equity Fund		T. Rowe Price Associates, Inc.
Real Return Bond Fund		Pacific Investment Management Company LLC
Small Company Fund		American Century Investment Management, Inc.
Small Company Growth Fund		A I M Capital Management, Inc.
Small Company Value Fund		T. Rowe Price Associates, Inc.
Spectrum Income Fund		T. Rowe Price Associates, Inc.
Strategic Bond Fund		Western Asset Management Company
Strategic Income Fund		MFC Global Investment Management (U.S.), LLC
Total Return Fund		Pacific Investment Management Company LLC
U.S. High Yield Bond Fund		Wells Capital Management, Incorporated
U.S. Multi-Sector Fund		Grantham, Mayo, Van Otterloo & Co. LLC
Value & Restructuring Fund		UST Advisers, Inc.

Lifestyle Portfolios – Fund details

Your account

Who can buy shares

Class 5 shares are available to certain types of investors, as noted below:

Class 5 shares are available only to the John Hancock Freedom 529 Plan, a qualified tuition program under Section 529 of the Internal Revenue Code of 1986, as amended (a 529 Plan), distributed by John Hancock Distributors, LLC (the distributor) through other broker-dealers that have a selling agreement with the distributor.

Class cost structure

Class 5 Shares are sold without imposition of any initial sales charge, contingent sales charge, service fee or distribution fee.

The performance and expenses information included in this prospectus does not reflect fees and expenses of any plan, which may use the fund as its underlying investment medium. If such fees and expenses had been reflected, performance would be lower.

Information for plan participants

Plan participants generally must contact their plan service provider to purchase, redeem or exchange shares.

The administrator of a 529 Plan can provide participants with detailed information on how to participate in the Plan, elect a fund as an investment option, elect different investment options, alter the amounts contributed to the Plan or change allocations among investment options. For questions about participant accounts, participants should contact their employee benefits office, the Plan administrator or the organization that provides recordkeeping services for the Plan.

Financial service firms may provide some of the shareholder servicing and account maintenance services required by 529 Plans, including transfers of registration, dividend payee changes and generation of confirmation statements, and may arrange for Plan administrators to provide other investment or administrative services. Financial service firms may charge 529 Plan participants transaction fees and/or other additional amounts for such services. Similarly, 529 Plans may charge plan participants for certain expenses. These fees and additional amounts could reduce an investment return in Class 5 shares of the fund.

Valuation of shares

The NAV per share for each class of the fund and share class is determined each business day at the close of regular trading on the New York Stock Exchange (typically 4:00 p.m., Eastern Time). The NAV for each fund is calculated based upon the NAVs of the underlying funds and other investments in which it invests. A prospectus for the underlying funds explains the circumstances under which those underlying funds use fair-value pricing and the effects of doing so.

Purchase and redemption prices

When you purchase shares, you pay the NAV. When you redeem shares, you receive the NAV.

Execution of requests

Each fund is open on those days when the New York Stock Exchange is open, typically Monday through Friday. Purchase and redemption requests are executed at the next NAV to be calculated after receipt of your request in good order.

In unusual circumstances, any fund may temporarily suspend the processing of redemption requests, or may postpone payment of proceeds for up to three business days or longer, as allowed by federal securities laws.

Excessive trading

The funds are intended for long-term investment purposes only and do not knowingly accept shareholders who engage in “market timing” or other types of excessive short-term trading. Short-term trading into and out of a fund can disrupt fund investment strategies and may increase fund expenses for all shareholders, including long-term shareholders who do not generate these costs.

Right to reject or restrict purchase and exchange orders

Purchases and exchanges should be made primarily for investment purposes. The fund reserves the right to restrict, reject or cancel (with respect to cancellations, within one day of the order), for any reason and without any prior notice, any purchase or exchange order, including transactions representing excessive trading and transactions accepted by any shareholder’s financial intermediary. For example, a fund may in its discretion restrict, reject or cancel a purchase or exchange order even if the transaction is not subject to the specific “Limitation on exchange activity” described below if the fund or its agents determine that accepting the order could interfere with the efficient management of a fund’s underlying funds or otherwise not be in the fund’s best interest in light of unusual trading activity related to your account. In the event that a fund rejects or cancels an exchange request, neither the redemption nor the purchase side of the exchange will be processed. If you would like the redemption request to be processed even if the purchase order is rejected, you should submit separate redemption and purchase orders rather than placing an exchange order. Each fund reserves the right to delay for up to one business day, consistent with applicable law, the processing of exchange requests in the event that, in the fund’s judgment, such delay would be in the fund’s best interest, in which case both the redemption and purchase side of the exchange will receive the fund’s NAV at the conclusion of the delay period. A fund, through its agents in their sole discretion, may impose these remedial actions at the account holder level or the underlying shareholder level.

Exchange limitation policies

Limitation on exchange activity

Lifestyle Portfolios – Your account

procedures in place to do so. The fund, or its agent, may also reject or cancel any purchase order (including an exchange) from an investor or group of investors for any other reason. Decisions to reject or cancel purchase orders (including exchanges) in the fund are inherently subjective and will be made in a manner believed to be in the best interest of the fund’s shareholders. The fund does not have any arrangement to permit market timing or disruptive trading.

Limitation on the ability to detect and curtail excessive trading practices

Excessive trading risk

To the extent that a fund or its agents are unable to curtail excessive trading practices in the fund, these practices may interfere with the efficient management of the fund, and may result in the fund engaging in certain activities to a greater extent than it otherwise would, such as maintaining higher cash balances, using its line of credit and engaging in fund transactions. Increased fund transactions and use of the line of credit would correspondingly increase a fund’s operating costs and decrease the fund’s investment performance. Maintenance of higher levels of cash balances would likewise result in lower fund investment performance during periods of rising markets.

While excessive trading can potentially occur in any fund, certain types of funds are more likely than others to be targets of excessive trading.

For example:


•	A fund that invests a significant portion of its assets in small- or mid capitalization stocks or securities in particular industries, that may trade infrequently or are fair valued as discussed under “Valuation of shares.” These types of securities entail a greater risk of excessive trading, as investors may seek to trade fund shares in an effort to benefit from their understanding of the value of those types of securities (referred to as price arbitrage).

•	A fund that invests a material portion of its assets in securities of non-U.S. issuers may be a potential target for excessive trading if investors seek to engage in price arbitrage based upon general trends in the securities markets that occur subsequent to the close of the primary market for such securities.

•	A fund that invests a significant portion of its assets in below investment-grade (junk) bonds, that may trade infrequently or are fair valued as discussed under “Valuation of shares,” entails a greater risk of excessive trading, as investors may seek to trade fund shares in an effort to benefit from their understanding of the value of those types of securities.

Account Information

Lifestyle Portfolios – Your account

close your account, redeem your shares at the next NAV and take any other steps that it deems reasonable.

Additional investor services

Dividends

The fund generally declares and pays income dividends annually. Capital gains, if any, are distributed annually, typically after the end of the fiscal year.

Dividend reinvestments

Dividends from a fund will be automatically reinvested on the dividend record date.

Taxability of dividends

529 Plans are exempt from federal income taxes, and dividends received by such a Plan from a fund, and gains recognized by such a Plan, are not subject to federal income tax. Portions of distributions from such a 529 Plan, based upon income and gain, will be subject to income tax in the hands of the distributee.

For investors who are not exempt from federal income taxes, dividends you receive from a fund, whether reinvested or taken as cash, are generally considered taxable. Dividends from a fund’s short-term capital gains are taxable as ordinary income. Dividends from a fund’s long-term capital gains are taxable at a lower rate. Whether gains are short-term or long-term depends on the fund’s holding period. Some dividends paid in January may be taxable as if they had been paid the previous December.

Disclosure of fund portfolio holdings

The funds’ policy regarding disclosure of fund holdings can be found in the SAI and fund holdings information can be found at www.jhfunds.com.

Lifestyle Portfolios – Your account