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JOHN HANCOCK TAX-FREE BOND FUND, MAY 1, 1995
SUPPLEMENT TO CLASS A AND CLASS B PROSPECTUS
The "INVESTMENT OBJECTIVE AND POLICIES" section is amended as follows:
The Fund may invest up to 35% of its assets in municipal bonds and notes rated,
at time of purchase, Ba, B by Moody's Investors Services, Inc., BB, B by
Standard & Poor's Rating Group or Fitch or, if not rated, determined by the John
Hancock Advisers, Inc. (the "Adviser") to be of comparable credit quality. These
bonds are considered speculative and are generally referred to as junk bonds.
While generally providing greater income than investments in higher quality
securities, these bonds involve greater risk of principal and income loss,
including the possibility of default. These bonds may have greater price
volatility, especially during periods of economic uncertainty or change. Bonds
rated B are currently meeting debt services requirements but provide a limited
margin of safety and are vulnerable to default in the event of adverse business,
financial or economic conditions. In addition, the market for these bonds may be
less liquid than the market for higher rated securities. Therefore, the
Adviser's judgment at times play a greater role in the performance and valuation
of the Fund's investments in these bonds.
"THE FUND'S EXPENSES" section is amended as follows:
The Trustees of the Fund have voted to recommend that the Class A shareholders
of the Fund approve an increase in the Rule 12b-1 fee for Class A shares of the
Fund from 0.15% of average daily net assets to 0.25% of average daily net assets
effective at the end of 1996. Also at the end of 1996, the Distributor will
remove its Rule 12 b-1 fee reduction on Class B shares Rule 12b-1 plan so that
the fee increases from 0.90% of average daily net assets to 1.00% of average
daily net assets.
November 28, 1995
The "ORGANIZATION AND MANAGEMENT OF THE FUND" section is amended as follows:
Thomas C. Goggins is Senior Vice President of the Adviser and portfolio manager
of the Fund. Mr. Goggins heads up John Hancock's team of municipal managers and
analysts. He joined the Adviser in 1995. Previously to that date, Mr. Goggins
was a municipal bond portfolio manager at Putnam Investments and Transamerica
Investment Services, Inc.
January 15, 1996
