N-Q 1 d292855.htm N-Q

 

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- 8568

John Hancock Financial Opportunities Fund
(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: October 31
   
Date of reporting period: July 31, 2015

 


 

ITEM 1. SCHEDULE OF INVESTMENTS

 


 



John Hancock

Financial Opportunities Fund


Quarterly portfolio holdings 7/31/15

jhnq_logo.jpg


Fund's investments Financial Opportunities Fund



                                         
  As of 7-31-15 (unaudited)  
        Shares     Value  
  Common stocks 104.1% (85.3% of Total investments)     $517,348,731  
  (Cost $366,822,227)  
  Financials 104.1%     517,348,731  
  Banks 88.6 %  
  1st Source Corp.     88,689     3,014,539  
  Access National Corp.     51,655     1,002,624  
  Ameris Bancorp     309,284     8,353,761  
  Anchor Bancorp, Inc. (I)     88,416     1,967,256  
  Avenue Bank (I)     300,000     3,943,969  
  Avidbank Holdings (I)     200,000     2,395,900  
  Bank of America Corp. (L)     333,959     5,971,187  
  Bank of Marin Bancorp     23,067     1,122,671  
  Bankwell Financial Group, Inc. (I)     76,657     1,370,627  
  Bar Harbor Bankshares     80,020     2,744,686  
  BB&T Corp.     363,599     14,642,132  
  Berkshire Hills Bancorp, Inc.     358,903     10,444,077  
  Bryn Mawr Bank Corp. (Z)     80,000     2,307,200  
  BSB Bancorp, Inc. (I)     177,195     3,710,463  
  Camden National Corp.     36,776     1,480,602  
  Chemical Financial Corp. (L)     116,773     3,847,670  
  Citigroup, Inc. (L)     28,193     1,648,163  
  City Holding Company (Z)     39,363     1,898,084  
  Comerica, Inc. (L)     167,706     7,954,296  
  Commerce Bancshares, Inc. (L)     100,195     4,718,183  
  ConnectOne Bancorp, Inc. (Z)     56,578     1,208,506  
  County Bancorp, Inc.     56,180     1,011,802  
  CU Bancorp (I)     91,813     2,037,330  
  Cullen/Frost Bankers, Inc. (L)     197,034     14,275,113  
  DNB Financial Corp.     78,515     2,198,420  
  Eagle Bancorp Montana, Inc.     5,272     58,361  
  Eastern Virginia Bankshares, Inc.     268,537     1,691,783  
  Evans Bancorp, Inc.     69,760     1,691,680  
  FCB Financial Holdings, Inc., Class A (I)     221,342     7,687,208  
  Fifth Third Bancorp     452,067     9,525,052  
  First Bancorp, Inc.     266,499     5,066,146  
  First Bancshares, Inc.     210,000     3,628,800  
  First Citizens BancShares, Inc., Class A (L)     15,038     3,854,841  
  First Community Corp.     136,228     1,701,488  
  First Connecticut Bancorp, Inc.     202,450     3,263,494  
  First Financial Bancorp     146,045     2,776,315  
  First Merchants Corp.     118,683     3,089,318  
  First Security Group, Inc. (I)     1,192,189     2,956,629  
  First Security Group, Inc. (TN) (I)     83,942     1,930,666  
  FirstMerit Corp. (L)     139,359     2,611,588  
  Flushing Financial Corp. (Z)     192,160     3,989,242  
  FNB Corp. (L)     767,513     10,584,004  
  Glacier Bancorp, Inc. (L)     223,556     6,281,924  
  Great Western Bancorp, Inc.     159,455     4,187,288  
  Green Bancorp, Inc. (I)     81,836     1,118,698  
  Hamilton State Bancshares (I)     500,000     4,010,000  
  Hancock Holding Company (L)     245,752     7,180,873  
  Heritage Commerce Corp.     387,733     4,299,959  

2SEE NOTES TO FUND'S INVESTMENTS

Financial Opportunities Fund

                                         
        Shares     Value  
  Financials  (continued)        
  Banks (continued)  
  Heritage Financial Corp.     194,590     $3,444,243  
  Heritage Oaks Bancorp     650,719     5,179,723  
  Howard Bancorp, Inc. (I)     104,350     1,441,074  
  Independent Bank Corp. (Massachusetts)     195,961     9,476,674  
  Independent Bank Corp. (Michigan)     125,407     1,788,304  
  John Marshall Bank (I)     38,325     613,200  
  JPMorgan Chase & Co.     267,120     18,305,734  
  KeyCorp (L)     266,765     3,958,793  
  Live Oak Bancshares, Inc. (I)(L)(Z)     17,534     353,485  
  M&T Bank Corp. (L)     102,651     13,462,679  
  MainSource Financial Group, Inc. (Z)     106,598     2,333,430  
  MB Financial, Inc. (L)     183,150     6,245,415  
  Merchants Bancshares, Inc.     56,125     1,773,550  
  Monarch Financial Holdings, Inc.     162,521     2,078,644  
  MutualFirst Financial, Inc.     100,539     2,374,731  
  National Commerce Corp. (I)     50,542     1,329,255  
  NewBridge Bancorp     207,422     1,827,388  
  Northrim BanCorp, Inc.     99,739     2,522,399  
  Old Second Bancorp, Inc. (I)     202,363     1,317,383  
  Pacific Continental Corp.     183,645     2,438,806  
  PacWest Bancorp (L)     41,762     1,933,163  
  Park National Corp.     42,113     3,689,099  
  Park Sterling Corp.     585,931     4,242,140  
  Peoples Bancorp, Inc.     122,945     2,586,763  
  Prosperity Bancshares, Inc. (L)     55,286     3,018,063  
  QCR Holdings, Inc.     48,822     1,052,602  
  Renasant Corp.     159,629     5,132,072  
  Sandy Spring Bancorp, Inc. (Z)     68,417     1,870,521  
  Shore Bancshares, Inc. (I)     183,579     1,731,150  
  Southern First Bancshares, Inc. (I)     131,586     2,636,983  
  Southwest Bancorp, Inc.     110,118     1,930,369  
  Square 1 Financial, Inc., Class A (I)(Z)     48,942     1,319,966  
  State Bank Financial Corp.     103,998     2,105,960  
  Stock Yards Bancorp, Inc. (Z)     44,216     1,629,802  
  Suffolk Bancorp     135,334     3,900,326  
  Sun Bancorp, Inc. (I)(Z)     126,066     2,633,519  
  SunTrust Banks, Inc. (L)     278,451     12,346,517  
  Swedbank AB, A Shares     94,083     2,203,816  
  Talmer Bancorp, Inc., Class A (L)     715,497     11,662,601  
  The Community Financial Corp.     62,497     1,343,686  
  The PNC Financial Services Group, Inc.     161,686     15,874,331  
  TriCo Bancshares     202,536     5,020,867  
  Trustmark Corp. (L)     123,537     2,969,829  
  U.S. Bancorp (L)     323,935     14,645,101  
  Union Bankshares Corp.     214,144     5,285,074  
  United Bankshares, Inc. (L)     74,856     3,033,914  
  Washington Trust Bancorp, Inc.     123,905     4,927,702  
  Wells Fargo & Company (L)     249,874     14,460,208  
  WesBanco, Inc. (L)     84,811     2,817,421  
  WestAmerica Bancorp. (L)     25,066     1,227,733  
  Westbury Bancorp, Inc. (I)     88,349     1,522,253  

SEE NOTES TO FUND'S INVESTMENTS3

Financial Opportunities Fund

                                         
        Shares     Value  
  Financials  (continued)        
  Banks (continued)  
  Western Alliance Bancorp (I)(L)     122,634     $4,148,708  
  Yadkin Financial Corp.     296,540     6,363,748  
  Zions Bancorporation (L)     265,769     8,289,335  
  Capital markets 6.8 %  
  Apollo Investment Corp. (L)     88,294     605,697  
  Ares Capital Corp. (L)     171,449     2,758,614  
  Fifth Street Finance Corp.     484,167     3,026,044  
  Golub Capital BDC, Inc.     166,116     2,707,691  
  Intermediate Capital Group PLC     367,829     3,343,456  
  KKR & Company LP     128,055     3,060,515  
  State Street Corp.     42,722     3,270,796  
  The Blackstone Group LP     98,870     3,880,648  
  The Carlyle Group LP     323,995     8,621,507  
  TriplePoint Venture Growth BDC Corp.     200,000     2,572,000  
  Insurance 0.8 %  
  Gjensidige Forsikring ASA     254,902     4,096,080  
  Real estate investment trusts 0.2 %  
  Digital Realty Trust, Inc. (L)     14,500     931,915  
  Thrifts and mortgage finance 7.7 %  
  Anchor Bancorp Wisconsin, Inc. (I)(Z)     160,834     5,952,466  
  Bank Mutual Corp.     161,841     1,176,584  
  Cheviot Financial Corp.     114,092     1,656,616  
  First Defiance Financial Corp.     125,161     4,812,440  
  Georgetown Bancorp, Inc.     65,000     1,157,000  
  HomeStreet, Inc.     208,636     4,717,260  
  Hudson City Bancorp, Inc.     267,248     2,755,327  
  Provident Financial Holdings, Inc.     97,339     1,566,185  
  River Valley Bancorp     52,026     1,193,997  
  Southern Missouri Bancorp, Inc.     112,188     2,118,109  
  United Community Financial Corp.     634,588     3,274,474  
  United Financial Bancorp, Inc. (Z)     108,463     1,463,166  
  WSFS Financial Corp.     221,361     6,355,274  
  Preferred securities 8.7% (7.1% of Total investments)     $43,214,577  
  (Cost $41,680,680)  
  Financials 8.7%     43,214,577  
  Banks 2.3 %  
  Communities First Financial Corp., 5.000%           11,660     1,154,340  
  HomeTown Bankshares Corp., 6.000% (I)           1,050     1,201,200  
  OFG Bancorp, Series A, 7.125%           992     17,558  
  OFG Bancorp, Series C, 8.750%           1,671     1,425,313  
  Old Second National Bank, 9.000% (I)           2,000     2,037,663  
  SB Financial Group, Inc., 6.500%           250,000     2,875,000  
  Synovus Financial Corp., Series C (7.875% to 8-1-18, then 3 month LIBOR +6.390%) (L)           100,716     2,794,869  
  Capital markets 1.7 %  
  JMP Group LLC, 7.250%           80,000     2,057,600  
  JMP Group LLC, 8.000%           82,428     2,091,198  
  Triplepoint Venture Grow BDC Corp., 6.750% (I)           168,000     4,200,000  
  Real estate investment trusts 3.0 %  
  American Homes 4 Rent, 5.500%           100,000     2,574,000  

4SEE NOTES TO FUND'S INVESTMENTS

Financial Opportunities Fund

                                         
        Shares     Value  
  Financials  (continued)        
  Real estate investment trusts (continued)  
  Arbor Realty Trust, Inc., 7.375%           100,000     $2,461,000  
  FelCor Lodging Trust, Inc., Series A, 1.950%           86,950     2,202,444  
  Invesco Mortgage Capital, Inc. (7.750% to 12-27-24, then 3 month LIBOR + 5.180%)           150,000     3,586,500  
  Sotherly Hotels LP, 7.000%           99,475     2,571,429  
  Sotherly Hotels LP, 8.000%           60,000     1,560,000  
  Thrifts and mortgage finance 1.7 %  
  Banc of California, Inc., 7.500%           86,255     2,234,867  
  Flagstar Bancorp, Inc. (I)           5,000     6,169,596  
        Rate (% )    Maturity date     Par value^     Value  
  Corporate bonds 7.4% (6.1% of Total investments)     $36,825,123  
  (Cost $36,191,001)  
  Financials 7.4%     36,825,123  
  Avenue Financial Holdings, Inc. (P)(S)     6.750     12-29-24     5,000,000     5,150,000  
  Cadence Financial Corp. (P)(S)     6.500     03-11-25     5,000,000     4,975,000  
  First Business Financial Services, Inc.     6.500     09-01-24     5,000,000     5,078,136  
  Popular, Inc. (L)     7.000     07-01-19     6,000,000     5,760,000  
  United Community Banks,Inc.     9.000     10-15-17     3,500,000     3,842,910  
  VantageSouth Bancshares, Inc.     7.625     08-12-23     5,000,000     4,995,427  
  Nationstar Mortgage LLC     6.500     07-01-21     3,000,000     2,801,250  
  NewStar Financial, Inc. (S)     7.250     05-01-20     4,160,000     4,222,400  



                                                     
        Shares     Value  
  Warrants 1.4% (1.2% of Total investments)     $7,086,756  
  (Cost $3,638,333)  
  Financials 1.4%     7,086,756  
  Banks 1.4 %  
  Bank of Marin Bancorp (Expiration Date: 12-5-18, Strike Price: $27.23) (I)     58,796     1,294,210  
  Citigroup, Inc. (Expiration Date: 1-4-19; Strike Price: $106.10) (I)     1,045,183     784,932  
  Comerica, Inc. (Expiration Date: 11-14-18; Strike Price: $29.40) (I)     93,762     1,706,468  
  Horizon Bancorp (Expiration Date: 12-19-18, Strike Price: $17.68) (I)     179,816     2,962,401  
  TCF Financial Corp. (Expiration Date: 11-14-18, Strike Price: $16.93) (I)     71,281     196,023  
  Valley National Bancorp (Expiration Date: 11-14-18, Strike Price: $16.11) (I)     30,979     3,454  
  Thrifts and mortgage finance 0.0 %  
  Washington Federal, Inc. (Expiration Date: 11-14-18, Strike Price: $17.57) (I)     25,507     139,268  
        Yield * (%)   Maturity date     Par value     Value  
  Certificate of deposit 0.0% (0.0% of Total investments)     $77,909  
  (Cost $77,909)  
  Country Bank for Savings     1.000     08-27-16     1,975     1,975  
  First Bank Richmond     0.990     12-05-16     20,395     20,395  
  First Bank System, Inc.     0.549     04-03-17     4,960     4,960  
  First Federal Savings Bank of Louisiana     0.100     01-06-16     3,035     3,035  
  Home Banks     1.739     11-04-21     18,927     18,927  
  Hudson Savings     0.700     04-24-17     2,158     2,158  
  Machias Savings Bank     0.500     05-24-16     1,956     1,956  
  Midstate Federal Savings and Loan     0.500     05-27-16     1,999     1,999  
  Milford Federal Savings and Loan Association     0.300     10-23-15     3,929     3,931  
  Mount McKinley Savings Bank     0.180     12-02-16     1,700     1,700  
  Mt. Washington Bank     0.700     10-30-15     1,873     1,873  
  MutualOne Bank     0.750     09-08-15     3,951     3,951  

SEE NOTES TO FUND'S INVESTMENTS5

Financial Opportunities Fund

                                                     
        Yield * (%)   Maturity date     Par value     Value  
  Financials  (continued)        
  Thrifts and mortgage finance (continued)  
  Newburyport Five Cent Savings Bank     0.200     10-20-16     2,093     $2,093  
  Newton Savings Bank     0.450     05-27-16     1,937     1,937  
  OBA Federal Savings and Loan     0.400     06-15-16     1,330     1,330  
  Plymouth Savings Bank     0.200     04-21-17     1,938     1,938  
  Salem Five Cents Savings Bank     0.250     12-15-15     1,726     1,726  
  Sunshine Federal Savings and Loan Association     0.500     05-10-17     2,025     2,025  
              Par value     Value  
  Short-term investments 0.4% (0.3% of Total investments)     $2,096,000  
  (Cost $2,096,000)  
  Repurchase agreement 0.4%     2,096,000  
  Repurchase Agreement with State Street Corp. dated 7-31-15 at 0.000% to be repurchased at $2,096,000 on 8-3-15, collateralized by $2,160,000 U.S. Treasury Notes, 0.625% due 4-30-18 (valued at $2,141,208, including interest)     2,096,000     2,096,000  
  Total investments (Cost $450,506,150)† 122.0%     $606,649,096  
  Other assets and liabilities, net (22.0%)     ($109,589,430 )
  Total net assets 100.0%     $497,059,666  

                                                     
  The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.  
  ^ All par values are denominated in U.S. dollars unless otherwise indicated.  
  Key to Security Abbreviations and Legend  
  LIBOR     London Interbank Offered Rate  
  (I)     Non-income producing security.  
  (L)     A portion of this security is on loan as of 7-31-15. The value of securities on loan amounted to $94,708,896.  
  (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.  
  (Z)     All or a portion of this security is pledged as collateral pursuant to the Credit Facility Agreement. Total collateral value at 7-31-15 was $120,510,775.  
  *     Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end.  
      At 7-31-15, the aggregate cost of investment securities for federal income tax purposes was $450,933,419. Net unrealized appreciation aggregated $155,715,677, of which $164,179,170 related to appreciated investment securities and $8,463,493 related to depreciated investment securities.  

6SEE NOTES TO FUND'S INVESTMENTS

Notes to Fund's investments

Security valuation. Investments are stated at value as of the close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 p.m., Eastern Time. In order to value the securities, the fund uses the following valuation techniques: Equity securities held by the fund are valued at the last sale price or official closing price on the exchange where the security was acquired or most likely will be sold. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Debt obligations are valued based on the evaluated prices provided by an independent pricing vendor or from broker-dealers. Independent pricing vendors utilize matrix pricing which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices. Foreign securities and currencies are valued in U.S. dollars, based on foreign currency exchange rates supplied by an independent pricing vendor. Securities that trade only in the over-the-counter market are valued using bid prices. Certain short-term securities with maturities of 60 days or less at the time of purchase are valued at amortized cost.

Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the fund's Pricing Committee following procedures established by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed. Trading in foreign securities may be completed before the daily close of trading on the NYSE. Significant events at the issuer or market level may affect the values of securities between the time when the valuation of the securities is generally determined and the close of the NYSE. If a significant event occurs, these securities may be fair valued, as determined in good faith by the fund's Pricing Committee, following procedures established by the Board of Trustees. The fund uses fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.

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 and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.

The following is a summary of the values by input classification of the fund's investments as of July 31, 2015, by major security category or type:

           
  Total
value at
7-31-15
Level 1
quoted price
Level 2
significant
observable
inputs
Level 3
significant
unobservable
inputs
Common stocks        
  Banks $440,274,870 $425,790,519 $8,543,685 $5,940,666
  Capital markets 33,846,968 30,503,512 3,343,456
  Insurance 4,096,080 4,096,080
  Real estate investment trusts 931,915 931,915
  Thrifts and mortgage finance 38,198,898 38,198,898
Preferred securities        
  Banks 11,505,943 5,687,427 3,780,853 2,037,663
  Capital markets 8,348,798 8,348,798
  Real estate investment trusts 14,955,373 12,383,944 2,571,429
  Thrifts and mortgage finance 8,404,463 2,234,867 6,169,596
Corporate bonds        
  Banks 29,801,473 15,885,000 13,916,473
  Diversified financial services 7,023,650 7,023,650
Warrants        
  Banks 6,947,488 2,690,877 4,256,611
  Thrifts and mortgage finance 139,268 139,268
Certificate of deposit 77,909 77,909
Short-term investments 2,096,000 2,096,000
Total investments in securities $606,649,096 $526,910,025 $57,844,269 $21,894,802

The following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value. Transfers into or out of Level 3 represent the beginning value of any security or instrument where a change in the level has occurred from the beginning to the end of the period and in all cases were transferred into or out of Level 2. Securities were transferred into Level 3 because of a lack of observable market data which resulted from an absence of market activity for these securities. In addition, securities were transferred from Level 3 since observable market data became available due to the increased market activity of these securities.

7


                             
  Investments in securities     Common stocks     Preferred securities     Corporate bonds     Total  
  Balance as of 10-31-14     $7,880,493     $1,060,500     $14,201,901     $23,142,894  
  Realized gain (loss)         (9,500 )       (9,500 )
  Change in unrealized appreciation (depreciation)     860,512     18,663     (285,428 )   593,747  
  Purchases         3,028,500         3,028,500  
  Sales         (1,000,000 )       (1,000,000 )
  Transfers into Level 3                  
  Transfers out of Level 3     (2,800,339 )   (1,060,500 )       (3,860,839 )
  Balance as of 7-31-15     $5,940,666     $2,037,663     $13,916,473     $21,894,802  
  Change in unrealized at period end*     $860,512     $18,663     ($285,428     $1,083,749  

*Change in unrealized appreciation (depreciation) attributable to Level 3 securities held at the period end.

The valuation techniques and significant amounts of unobservable inputs used in the fair value measurement of the fund's Level 3 securities are outlined in the table below.

                                   
        Fair Value
at 7-31-15
          Valuation
technique
    Unobservable Inputs     Input/Range  
  Common Stocks     $4,010,000           Market Approach     Book value
Book value multiple
Discount for lack of marketablility
    7.30
1.22x
10%
 
  Preferred Securities     $2,037,663           Estimated liquidation value     Estimated Future Payments     $1,018.83  
  Corporate Bonds     $13,916,473           Market Approach     Yield spread     100 bps - 427 bps
(weighted average 229 bps)
 
  Total     $19,964,136  *   *                    

*Amounts exclude valuations provided by a broker, which amounted to $1,930,666.

A change to unobservable inputs of the fund's Level 3 securities may result in changes to the fair value measurement, as follows:

     
Unobservable Input Impact to valuation
if input increases
Impact to valuation
if input decreases
Book value multiple / market comparable companies Increase Decrease
Discount for lack of marketability Decrease Increase
Estimated Future Payments Increase Decrease
Yield spread Decrease Increase

Repurchase agreements. The fund may enter into repurchase agreements. When the fund enters into a repurchase agreement, it receives collateral that 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. Collateral received by the fund for repurchase agreements is disclosed in the Fund's investments as part of the caption related to the repurchase agreement.

Repurchase agreements are typically governed by the terms and conditions of the Master Repurchase Agreement and/or Global Master Repurchase Agreement (collectively, MRA). Upon an event of default, the non-defaulting party may close out all transactions traded under the MRA and net amounts owed. Absent an event of default, assets and liabilities resulting from repurchase agreements are not offset. 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 or the counterparty may have insufficient assets to pay back claims resulting from close-out of the transactions.

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

8


More information

     
How to contact us
Internet www.jhinvestments.com  
Mail Computershare
P.O. Box 30170
College Station, TX 77842-3170
 
Phone Customer service representatives
Portfolio commentary
24-hour automated information
TDD line
800-852-0218
800-344-7054
800-843-0090
800-231-5469

     
  P9Q3 07/15
This report is for the information of the shareholders of John Hancock Financial Opportunities Fund.   9/15


 

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 Financial Opportunities Fund

 

 

By:   /s/ Andrew Arnott
  Andrew Arnott
  President

 

 

Date: September 21, 2015

 

 

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/ Andrew Arnott
  Andrew Arnott
  President

 

 

Date: September 21, 2015

 

 

By:   /s/ Charles A. Rizzo
  Charles A. Rizzo
  Chief Financial Officer

 

 

Date: September 21, 2015