John Hancock Special Equities Fund, March 1, 1996
Supplement to Class A, Class B and Class C Prospectus
John Hancock Special Equities Fund (the "Fund") will be closed indefinitely to
new investors effective at the end of the day that the Fund's total assets reach
$2.5 billion. From that day forward, only existing accounts will be permitted to
make purchases.
New accounts may only be opened by participants in existing employer-sponsored
retirement plans that already offer the Special Equities Fund.
The Fund will reject additional purchase orders from transferees if the purchase
appears to have been made for the purpose of evading the closing limitations.
May 22, 1996
On April 30, 1996, the Trustees of the Fund approved a new Subadvisory Agreement
between the Fund and DiCarlo, Forbes & St. Pierre Advisers, LLC ("DFS
Advisors"). DFS Advisors is a newly-created entity registered under the
Investment Advisors Act of 1940 with Michael P. DiCarlo as one of its
principals.
Under the contract, Mr. DiCarlo will continue to be responsible for the
day-to-day management of the Fund. Mr. DiCarlo has been associated with John
Hancock Advisers, Inc. since 1984.
On June 26, 1996, the Fund's shareholders will vote on the new subadvisory
contract.
May 1, 1996
1800S-5/96
