N-Q 1 a_currentinterest.htm JOHN HANCOCK CURRENT INTEREST a_currentinterest.htm
UNITED STATES 
SECURITIES AND EXCHANGE COMMISSION 
Washington, D.C. 20549 
 
FORM N-Q 
 
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED 
MANAGEMENT INVESTMENT COMPANIES 
 
Investment Company Act file number 811-2485 
 
John Hancock Current Interest 
(Exact name of registrant as specified in charter) 
 
601 Congress Street, Boston, Massachusetts 02210 
(Address of principal executive offices) (Zip code) 
 
Salvatore Schiavone, Treasurer 
 
601 Congress Street 
 
Boston, Massachusetts 02210 
 
(Name and address of agent for service) 
 
Registrant's telephone number, including area code: 617-663-4497 
 
Date of fiscal year end:  March 31 
 
Date of reporting period:  December 31, 2012 

 

ITEM 1. SCHEDULE OF INVESTMENTS




Money Market Fund

As of 12-31-12 (Unaudited)

Maturity Date  Yield* (%)  Par value  Value 
 
Commercial Paper 38.3%      $146,331,131 
(Cost $146,331,131)       
 
Abbott Laboratories (S)       
01/03/13 0.090  15,000,000  14,999,923 
Anheuser-Busch InBev Worldwide, Inc. (S)       
02/22/13  0.280  2,000,000  1,999,191 
Bank of Nova Scotia       
01/02/13  0.020  18,000,000  17,999,990 
Bank of Tokyo-Mitsubishi UFJ, Ltd.       
01/02/13  0.170  17,000,000  16,999,920 
Caisse Centrale Desjardins du Quebec (S)       
01/18/13  0.190  5,000,000  4,999,551 
Cargill Global Funding PLC (S)       
01/03/13  0.160  18,000,000  17,999,840 
Chariot Funding LLC (S)       
02/01/13 to 04/01/13  0.230 to 0.300  5,000,000  4,996,802 
CPPIB Capital, Inc.       
01/02/13  0.100  18,000,000  17,999,950 
Deutsche Bank Financial Llc       
08/02/13  0.600  5,000,000  4,982,250 
Electricite de France SA (S)       
01/25/13 to 01/15/14  0.300 to 0.800  9,500,000  9,440,044 
Nestle Capital Corp. (S)       
08/27/13  0.330  5,000,000  4,989,092 
Old Line Funding LLC       
01/03/13  0.050  4,938,000  4,937,986 
Rabobank USA Financial Corp.       
05/31/13  0.300  5,000,000  4,993,750 
Thunder Bay Funding LLC       
01/03/13  0.150  18,993,000  18,992,842 
 
Corporate Interest-Bearing Obligations 45.4%      $173,198,647 
(Cost $173,198,647)       
 
American Honda Finance Corp. (P)(S)       
11/08/13 to 12/05/13  0.331 to 0.340  3,500,000  3,500,000 
Anheuser-Busch InBev Worldwide, Inc. (P)       
03/26/13  1.040  5,000,000  5,009,060 
ANZ National International, Ltd. (S)       
07/19/13  6.200  7,500,000  7,729,210 
Australia & New Zealand Banking Group, Ltd. (S)       
01/11/13  2.400  3,050,000  3,051,095 
Bank of Tokyo-Mitsubishi UFJ, Ltd. (S)       
01/22/13  2.600  1,205,000  1,206,473 
Boeing Capital Corp.       
02/15/13  5.125  5,000,000  5,029,188 
Caterpillar Financial Services Corp. (P)       
02/22/13  0.472  1,000,000  1,000,439 
Caterpillar, Inc. (P)       
05/21/13  0.482  12,400,000  12,417,664 
Credit Suisse New York       
05/15/13  5.000  15,563,000  15,800,777 
Deutsche Bank AG       
01/11/13  2.375  10,000,000  10,005,071 
General Electric Capital Corp. (P)       
03/20/13 to 05/08/13  0.429 to 0.462  14,500,000  14,504,189 

 

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Money Market Fund
As of 12-31-12 (Unaudited)

Maturity Date  Yield* (%)  Par value  Value 
General Electric Capital Corp.       
05/01/13  4.800  1,340,000  $1,357,935 
General Electric Company       
02/01/13  5.000  2,500,000  2,509,803 
John Deere Capital Corp. (P)       
10/04/13  0.754  4,505,000  4,520,727 
JPMorgan Chase & Company (P)       
09/30/13  1.061  6,823,000  6,857,737 
JPMorgan Chase & Company       
05/01/13  4.750  3,583,000  3,634,890 
Mercedes-Benz Auto Receivables Trust       
09/16/13  0.230  2,397,625  2,397,625 
National Rural Utilities Cooperative Finance Corp.       
07/01/13  5.500  4,767,000  4,889,034 
National Rural Utilities Cooperative Finance Corp. (P)       
08/09/13  0.410  12,000,000  12,000,000 
PepsiCo, Inc. (P)       
05/10/13  0.390  7,040,000  7,046,167 
PepsiCo, Inc.       
02/15/13  4.650  2,310,000  2,322,250 
Sanofi (P)       
03/28/13  0.510  9,910,000  9,918,509 
Toyota Motor Credit Corp. (P)       
01/14/13 to 04/19/13  0.421 to 0.540  12,300,000  12,300,198 
U.S. Bancorp       
09/13/13  1.375  2,000,000  2,012,316 
Wachovia Corp. (P)       
05/01/13  2.083  8,600,000  8,649,454 
Wells Fargo & Company       
01/31/13  4.375  9,750,000  9,779,934 
Westpac Securities NZ, Ltd. (S)       
01/28/13  2.625  3,745,000  3,748,902 
 
U.S. Government & Agency Obligations 9.0%      $34,358,533 
(Cost $34,358,533)       
 
Federal Farm Credit Bank (P)       
02/15/13 to 05/19/14  0.190 to 0.420  21,105,000  21,108,708 
Federal Home Loan Bank (P)       
02/05/13 to 11/25/13  0.180 to 0.240  9,040,000  9,042,293 
Federal National Mortgage Association (P)       
06/23/14  0.360  4,200,000  4,207,532 
  
Certificate of Deposit 2.6%      $10,000,000 
(Cost $10,000,000)       
 
Royal Bank of Canada (P)       
02/15/13  0.500  10,000,000  10,000,000 
 
    Par value  Value 
 
Short-Term Investments 4.1%      $15,700,000 
(Cost $15,700,000)       
 
Repurchase Agreement with State Street Corp. dated 12-31-12 at     
0.010% to be repurchased at $15,700,009 on 1-2-13, collateralized     
by $15,980,000 Federal Home Mortgage Association, 0.625% due     
2-22-16 (valued at $16,015,789, including interest)    $15,700,000  15,700,000 

 

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Money Market Fund
As of 12-31-12 (Unaudited)

Total investments (Cost $379,588,311)† 99.4%  $379,588,311 
 
Other assets and liabilities, net 0.6%  $2,340,576 
 
Total net assets 100.0%  $381,928,887 

The percentage shown for each investment category is the total value of that category as a percentage of the net assets of the Fund.

(P) Variable rate obligation. The coupon rate shown represents the rate at period end.

(S) These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration.

† At 12-31-12, the aggregate cost of investment securities for federal income tax purposes was $379,588,311.

3

 


Money Market Fund
As of 12-31-12 (Unaudited)

Notes to the Portfolio of Investments

Security valuation. Securities in the Fund’s portfolio are valued at amortized cost, in accordance with Rule 2a-7 under the 1940 Act, which approximates market value. The amortized cost method involves valuing a security at its cost on the date of purchase and thereafter assuming a constant amortization to maturity of the difference between the principal amount due at maturity and the cost of the security to the Fund.

The Fund uses a three-tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the Fund’s own assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy.

As of December 31, 2012 all investments are categorized as Level 2 under the hierarchy described above.

Repurchase agreements. The Fund may enter into repurchase agreements. When the Fund enters into a repurchase agreement, it receives collateral which is held in a segregated account by the Fund’s custodian. The collateral amount is marked-to-market and monitored on a daily basis to ensure that the collateral held is in an amount not less than the principal amount of the repurchase agreement plus any accrued interest. In the event of a default by the counterparty, realization of the collateral proceeds could be delayed, during which time the collateral value may decline.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

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ITEM 2. CONTROLS AND PROCEDURES.

(a) Based upon their evaluation of the registrant's disclosure controls and procedures as conducted within 90 days of the filing date of this Form N-Q, the registrant's principal executive officer and principal accounting officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.

(b) There were no changes in the registrant's internal control over financial reporting that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

ITEM 3. EXHIBITS.

Separate certifications for the registrant's principal executive officer and principal accounting officer, as required by Rule 30a-2(a) under the Investment Company Act of 1940, are attached.


SIGNATURES 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

John Hancock Current Interest 
 
By:  /s/ Hugh McHaffie 
  ------------------------------- 
Hugh McHaffie 
  President 
 
 
Date:  February 20, 2013 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By:  /s/ Hugh McHaffie 
  ------------------------------- 
Hugh McHaffie 
  President 
 
 
Date:  February 20, 2013 
 
 
By:  /s/ Charles A. Rizzo 
  -------------------------------- 
Charles A. Rizzo 
  Chief Financial Officer 
 
 
Date:  February 20, 2013