As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 8/05/13  John Hancock Bond Trust           N-CSR       5/31/13    5:2.4M                                   McMunn Associates Inc/FA
          → John Hancock Government Income Fund ⇒ Class A (JHGIX) — Class B (TSGIX) — Class C (TCGIX)
          → John Hancock High Yield Fund ⇒ Class A (JHHBX) — Class B (TSHYX) — Class C (JHYCX) — Class I (JYHIX)
          → John Hancock Investment Grade Bond Fund ⇒ Class A (TAUSX) — Class B (TSUSX) — Class C (TCUSX) — Class I (TIUSX)

Document/Exhibit                   Description                      Pages   Size 

 1: N-CSR       John Hancock Bond Trust                             HTML   1.76M 
 5: EX-99       Governance Charter                                  HTML     29K 
 3: EX-99.906 CERT  906 Certification                               HTML     10K 
 2: EX-99.CERT  Miscellaneous Exhibit                               HTML     17K 
 4: EX-99.CODE ETH  Code of Ethics                                  HTML     28K 

 

ITEM 1. REPORTS TO STOCKHOLDERS.

A look at performance

Total returns for the period ended May 31, 2013

 

Performance figures assume all distributions have been reinvested. Figures reflect maximum sales charges on Class A shares of 4.5% and the applicable contingent deferred sales charge (CDSC) on Class B shares and Class C shares. The returns for Class C shares have been adjusted to reflect the elimination of the front-end sales charge effective 7-15-04. The Class B shares’ CDSC declines annually between years 1 to 6 according to the following schedule: 5, 4, 3, 3, 2, 1%. No sales charge will be assessed after the sixth year. Class C shares held for less than one year are subject to a 1% CDSC. Sales charges are not applicable to Class I shares.

The expense ratios of the fund, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectuses for the fund and may differ from those disclosed in the Financial highlights tables in this report. The fee waivers and expense limitations are contractual at least until 9-30-13 for Class A, Class B and Class C shares. Had the fee waivers and expense limitations not been in place, gross expenses would apply. For Class I, the net expenses equal the gross expenses. The expense ratios are as follows:

 

The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility, the fund’s current performance may be higher or lower than the performance shown. For current to the most recent month end performance data, please call 800-225-5291 or visit the fund’s website at jhfunds.com.

The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder may pay on fund distributions or on the redemption of fund shares. The fund’s performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.

^† Index is the Barclays U.S. Aggregate Bond Index.

See the following page for footnotes.

 

 

Performance of the classes will vary based on the difference in sales charges paid by shareholders investing in the different classes and the fee structure of those classes.

The Class C shares investment with maximum sales charge has been adjusted to reflect the elimination of the front-end sales charge, effective 7-15-04.

Barclays U.S. Aggregate Bond Index is an unmanaged index of dollar-denominated and nonconvertible investment-grade debt issues.

It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would have resulted in lower values if they did.

Footnotes related to performance pages

¹ For certain types of investors as described in the fund’s prospectus.

² Class I shares were first offered on 7-28-03. The returns prior to this date are those of Class A shares that have been recalculated to apply the fees and expenses of Class I shares.

³ The contingent deferred sales charge is not applicable.

 

Management’s discussion of

Fund performance

By John Hancock Asset management a division of manulife Asset management (US) LLC

Effective May 15, 2013, Barry Evans relinquished his role as a portfolio manager on the fund, as he assumes a wider leadership role as president of John Hancock Asset Management a division of Manulife Asset Management (North America) Limited. The fund will continue to be managed by Howard Greene and Jeffrey Given.

Conditions in the bond market were generally favorable for the year ended May 31, 2013. Economic growth was positive but constrained, while interest rates remained near historic lows and inflation stayed in check. The Federal Reserve Board (Fed) kept the federal funds rate—a key overnight lending rate—close to zero, while announcing its intention to keep interest rates low into 2015 to help spur the housing recovery and boost economic growth. Monthly purchases by the Fed of agency mortgage bonds and U.S. Treasuries kept a lid on yields, with the hope that businesses would take on riskier projects and increase hiring. In this environment, investors were rewarded for taking on more risk, with stocks and high-yield bonds producing the strongest gains and Treasuries the weakest.

For the 12 months ended May 31, 2013, John Hancock Investment Grade Bond Fund’s Class A shares returned 4.80%, excluding sales charges, beating the 0.91% gain of its benchmark, the Barclays U.S. Aggregate Bond Index, and the 3.48% average gain of Morningstar, Inc.’s intermediate-term bond fund category.^† The fund benefited from favorable sector allocations and security selection. The biggest boost came from having an overweight—and over one-third of the fund’s assets—in lower-rated investment-grade bonds, which outperformed U.S. Treasuries. We favored bonds in the financials sector, which produced strong gains, thanks to their above-average yields and improving balance sheets. A large underweight in Treasuries also helped relative performance, as these were under pressure. Within the mortgage group, a position in commercial mortgage-backed securities—which are bonds issued for large commercial real estate projects—contributed. The fund also benefited from being well positioned in 30-year government-agency backed mortgage-backed securities that had a lower risk of prepayment, or, being paid off before maturity.

This commentary reflects the views of the portfolio managers through the end of the period discussed in this report. As such, they are in no way guarantees of future events and are not intended to be used as investment advice or a recommendation regarding any specific security. They are also subject to change at any time as market and other conditions warrant.

Past performance is no guarantee of future results.

^† Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower.

 

	Account value	Ending value	Expenses paid during
	on 12-1-12	on 5-31-13	period ended 5-31-131
Class A	$1,000.00	$1,002.70	$4.74
Class B	1,000.00	998.90	8.47
Class C	1,000.00	998.90	8.47
Class I	1,000.00	1,004.00	3.10

 

Annual report | Investment Grade Bond Fund	9

Your expenses

Hypothetical example for comparison purposes

This table allows you to compare the fund’s ongoing operating expenses with those of any other fund. It provides an example of the fund’s hypothetical account values and hypothetical expenses based on each class’s actual expense ratio and an assumed 5% annualized return before expenses (which is not the fund’s actual return). It assumes an account value of $1,000.00 on December 1, 2012, with the same investment held until May 31, 2013. Look in any other fund shareholder report to find its hypothetical example and you will be able to compare these expenses. Please remember that these hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.

 

Remember, these examples do not include any transaction costs, therefore, these examples will not help you to determine the relative total costs of owning different funds. If transaction costs were included, your expenses would have been higher. See the fund’s prospectuses for details regarding transaction costs.

¹ Expenses are equal to the fund’s annualized expense ratio of 0.95%, 1.70%, 1.70%, and 0.62% for Class A, Class B, Class C, and Class I shares, respectively, multiplied by the average account value over the period, multiplied by 182/365 (to reflect the one-half year period).

 

Portfolio summary

 

¹ As a percentage of net assets on 5-31-13.

² Ratings are from Moody’s Investors Service, Inc. If not available, we have used ratings from Standard & Poor’s Ratings Services. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. rating. “Not Rated” securities are those with no ratings available from these agencies. All ratings are as of 5-31-13 and do not reflect subsequent downgrades or upgrades, if any.

Fixed-income investments are subject to interest-rate and credit risk; their value will normally decline as interest rates rise or if the creditor is unable or unwilling to make principal or interest payments. Foreign investing, especially in emerging markets, has additional risks, such as currency and market volatility and political and social instability. Mortgage and asset-backed securities may be sensitive to changes in interest rates, subject to early repayment risk and their value may fluctuate in response to the market’s perception of issuer creditworthiness. Hedging and other strategic transactions may increase the volatility of a fund and, if the transaction is not successful, could result in a significant loss. Sector investing is subject to greater risks than the market as a whole. Because the fund may focus on particular sectors of the economy, its performance may depend on the performance of those sectors and investments focused in one sector may fluctuate more widely than investments diversified across sectors. For additional information on these and other risk considerations, please see the fund’s prospectuses.

 

Fund’s investments

As of 5-31-13