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Business Summary: John Hancock Preferred Income Fund III (the Fund) is a closed-end, diversified management investment company. The fund’s 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. The fund seeks to achieve its objectives by investing in securities that, in the opinion of the Advisor, 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 borrowings for investment purposes) in preferred stocks and other preferred securities, including convertible preferred securities. It invests in various sectors including utilities, communication services, consumer discretionary, automobiles, broadline retail, consumer staples, and food products. Its investment advisor is John Hancock Investment Management LLC.
Financial Summary: BRIEF: For the fiscal year ended 31 January 2011, John Hancock Preferred Income Fund III has not disclosed any comparable financial information.