John Hancock Hedged Equity & Income Fund is a diversified, closed-end management investment company. The Fund’s investment objective is to provide total return with a focus on current income and gains and also consisting of long-term capital appreciation. The Fund seeks to provide investors with a portfolio that will generate attractive long-term total returns with downside equity market protection. Under normal market conditions, the Fund’s portfolio management team invests at least 80% of the Fund’s net assets (plus borrowing for investment purposes) in equity and equity-related securities. The Fund can invest in fixed income securities, including high yield bonds, up to 20% of its total assets. John Hancock Advisers, LLC is the investment advisor for the Fund.