BOSTON, June 9 /PRNewswire-FirstCall/ -- John Hancock Tax-Advantaged Global Shareholder Yield Fund (NYSE: HTY) (the "Fund") announced today that the Board of Trustees of the Fund has approved a change in the benchmark index for the Fund from the S&P/Citigroup Developed Broad Market Index to the MSCI World Index. This change will become effective June 10, 2009. The Fund's advisor, John Hancock Advisors, LLC, in coordination with the subadvisor, Epoch Investment Partners, Inc. ("Epoch"), believe the MSCI World Index will provide a more effective benchmark index for the Fund and best represents the Fund's investment strategy. The Board also approved a conforming change to the Fund's investment policies to reflect that Epoch as a result of this change now seeks to produce an efficient portfolio on a risk/return basis with a dividend yield that exceeds the dividend yield of the MSCI World Index, not the S&P/Citigroup Developed Broad Market Index.

MSCI World Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets. This index is unmanaged and investors cannot invest directly in this index. Information about the index change and investment policy change will also be available in the Fund's October 2009 annual shareholder report.

The Fund's investment objective is to provide total return consisting of a high level of current income and gains and long term capital appreciation. In pursuing its investment objective, the Fund will seek to achieve favorable after-tax returns for its shareholders by seeking to minimize the federal income tax consequences on income and gains generated by the Fund.

About John Hancock Funds

The Boston-based mutual fund business unit of John Hancock Financial, John Hancock Funds manages more than $35.8 billion in open-end funds, closed-end funds, private accounts, retirement plans and related party assets for individual and institutional investors at March 31, 2009.

About John Hancock Financial and Manulife Financial Corporation

John Hancock Financial is a unit of Manulife Financial Corporation (the Company), a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and in most of Asia, and primarily as John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$405 billion (US$322 billion) at March 31, 2009.

Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '0945' on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.

The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers a broad range of financial products and services, including life insurance, fixed and variable annuities, fixed products, mutual funds, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at www.johnhancock.com.

SOURCE John Hancock Tax-Advantaged Global Shareholder Yield Fund