JOHN HANCOCK FINANCIAL INDUSTRIES FUND
Supplement to the Statement of Additional Information dated September 3, 1996
A paragraph is added to the end of the "Investment Objective and Policies"
section of the Statement of Additional Information as follows:
The Fund currently uses a strategy of investing in banks, finance
companies, brokerage firms, financial technology companies, asset
management companies and insurance companies that are, in the opinion of
the Fund's management team, currently underfollowed and/or underpriced, in
consolidating or restructuring industries, or in a position to benefit
from regulatory changes. This strategy can be changed at any time.
January 27, 1997
70SAI-S-1/97
