Fund Description: John Hancock Preferred Income Fund is an exchange-traded closed-end fund or a closed-end ETF which is officially described in its prospectus as a diversified, closed-end management investment company. INVESTMENT OBJECTIVE: The Fund's primary investment objective is to provide a high level of current income, consistent with preservation of capital. The Fund's secondary investment objective is to provide growth of capital to the extent consistent with its primary investment objective. FUND STRATEGY: The Fund seeks to achieve its objectives by investing in securities that, in the opinion of the Fund's investment adviser, may be undervalued relative to similar securities in the marketplace. Under normal market conditions, the Fund invests at least 80% of its assets (net assets plus borrowing for investment purposes) in preferred stocks and other preferred securities, including convertible preferred securities. FUND MANAGEMENT: The Fund's investment advisor and administrator is John Hancock Advisers, a wholly owned subsidiary of John Hancock Financial Services, Inc., a unit of Manulife Financial Corporation, a leading Canadian-based financial services group.