John Hancock Preferred Income Fund, managed by John Hancock Investment Management LLC and John Hancock Asset Management, is a closed-ended balanced mutual fund, investing in public equity and fixed income markets in the US. The fund primarily invests in preferred value stocks, convertible preferred securities, and investment grade fixed-income securities of diversified sector companies. The fund benchmarks its performance against the Bank of America Merrill Lynch Hybrid Preferred Securities Index and Barclays U.S. Aggregate Bond Index, and was formed in August 2002 in the US.