Fund Description: John Hancock Tax-Advantaged Global Shareholder Yield 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 investment objective is to provide total return consisting of a high level of current income and gains and long term capital appreciation. In pursuing its investment objective, the Fund will seek to achieve favorable after-tax returns for its shareholders by seeking to minimize the federal income tax consequences on income and gains generated by the Fund. FUND STRATEGY: Under normal market conditions, the Fund will invest at least 80% of its total assets in a diversified portfolio of dividend-paying stocks of issuers located throughout the world. The Fund seeks to produce superior risk-adjusted returns by using a disciplined, proprietary investment approach that is focused on identifying companies with strong free cash flow, and that use their free cash flow to seek to maximize “shareholder yield” through dividend payments, stock repurchases and debt reduction. By assembling a diversified portfolio of stocks which, in the aggregate, possess positive growth of free cash flow, high cash dividend yields, share buyback programs and net debt reductions, the Fund seeks to provide shareholders an attractive total return with less volatility than the global equity market as a whole. The relative portions of the Fund’s portfolio invested in stocks of U.S. and foreign issuers are expected to vary over time. Under normal market conditions, the Fund will invest at least 40% of its total assets in securities of non-U.S. issuers. The Fund may invest up to 20% of its total assets in securities issued by companies located in emerging markets when the Fund’s equity portfolio sub-adviser believes such companies offer attractive opportunities. Securities held by the Fund may be denominated in both U.S. dollars and non-U.S. currencies. The Fund may not invest more than 25% of its total assets in the securities of issuers in any single industry or group of related industries. Under normal conditions, the Fund will invest in the securities of issuers located in at least three different countries, including the United States, and initially expects to so invest in approximately 15 to 25 countries. FUND MANAGEMENT: The Fund's investment advisor and administrator is John Hancock Advisers (JHA), a wholly owned subsidiary of John Hancock Financial Services, Inc., a unit of Manulife Financial Corporation, a leading Canadian-based financial services group. JHA has engaged Epoch Investment Partners, Inc. to serve as a sub-adviser to the Fund. Epoch will be responsible for the day-to-day management of the Fund’s portfolio investments, other than with respect to the Options Strategy.