CORRECTING and REPLACING Trustees Approve Managed Distribution Plans for Certain MFS Closed-End Funds
13 2월 2015 - 9:00AM
Business Wire
Reissuing release to correct a ticker symbol for searching
purposes.
The corrected release reads:
TRUSTEES APPROVE MANAGED DISTRIBUTION PLANS
FOR CERTAIN MFS CLOSED-END FUNDS
The Board of Trustees (the “Board”) of the
following MFS closed-end funds (the “funds") has approved the
adoption of managed distribution plans whereby the funds will,
beginning in May 2015, make monthly distributions to common
shareholders at an annual minimum fixed rate based on average
monthly net asset value (NAV) of each fund's common shares. The
funds and rates, respectively, are as follows:
Fund Ticker
Rate MFS® Charter Income Trust
NYSE: MCR
8.00% MFS® InterMarket Income Trust I
NYSE: CMK 7.00% MFS® Intermediate High
Income Fund
NYSE: CIF
9.50% MFS® Multimarket Income Trust
NYSE: MMT
8.00%
The primary purpose of each plan is to provide shareholders with
a constant, but not guaranteed, fixed minimum rate of distribution
each month. The funds' advisor, MFS Investment Management® (MFS®),
recommended each plan to the Board. Each plan is intended to narrow
the discount between the market price and the NAV of each fund's
common shares, but there is no assurance that the plan will be
successful in doing so.
Under a managed distribution plan, to the extent that sufficient
investment income is not available on a monthly basis, the fund
will distribute long-term capital gains and/or return of capital in
order to maintain its managed distribution level. You should not
draw any conclusions about a fund’s investment performance from the
amount of the fund’s distributions or from the terms of the fund’s
managed distribution plan. The Board may amend the terms of a plan
or terminate a plan at any time without prior notice to the fund's
shareholders. The amendment or termination of a plan could have an
adverse effect on the market price of a fund’s common shares. Each
plan will be subject to periodic review by the Board.
With each distribution that does not consist solely of net
investment income, each fund will issue a notice to shareholders
and an accompanying press release which will provide detailed
information regarding the amount and composition of the
distribution and other related information. The amounts and sources
of distributions reported in the notice to shareholders are only
estimates and are not being provided for tax reporting purposes.
The actual amounts and sources of the amounts for tax reporting
purposes will depend upon each fund’s investment experience during
its full fiscal year and may be subject to changes based on tax
regulations. Each fund will send shareholders a Form 1099-DIV for
the calendar year that will tell them how to report these
distributions for federal income tax purposes. A fund may at times
distribute more than its net investment income and net realized
capital gains; therefore, a portion of the distribution may result
in a return of capital. A return of capital may occur, for example,
when some or all of the money that shareholders invested in a fund
is paid back to them. A return of capital does not necessarily
reflect a fund’s investment performance and should not be confused
with ‘yield’ or ‘income’. Any such returns of capital will decrease
each fund's total assets and, therefore, could have the effect of
increasing each fund's expense ratio. In addition, in order to make
the level of distributions called for under its plan, a fund may
have to sell portfolio securities at a less than opportune
time.
About MFS Investment
Management
Established in 1924, MFS is an active, global asset manager with
investment offices in Boston, Hong Kong, London, Mexico City, São
Paulo, Singapore, Sydney, Tokyo and Toronto. We employ a uniquely
collaborative approach to build better insights for our clients.
Our investment approach has three core elements: integrated
research, global collaboration and active risk management. As of
January 30, 2015, MFS manages US$426.5 billion in assets on behalf
of individual and institutional investors worldwide. Please visit
mfs.com for more information.
Statements made in this release that look forward in time
involve risks and uncertainties and are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such risks and uncertainties include, without limitation,
the adverse effect from a decline in the securities markets or a
decline in a Fund’s performance, a general downturn in the economy,
competition from other closed-end investment companies, changes in
government policy or regulation, inability of a Fund’s investment
adviser to attract or retain key employees, inability of a Fund to
implement its investment strategy, inability of a Fund to manage
rapid expansion and unforeseen costs and other effects related to
legal proceedings or investigations of governmental and
self-regulatory organizations.
The funds are closed-end investment products. Common shares
of the funds are only available for purchase/sale on the NYSE at
the current market price. Shares may trade at a discount to NAV,
including during periods in which a fund’s managed distribution is
in effect.
MFS Investment Management
111 Huntington Ave, Boston, MA 02199
32399.1
MFS Shareholders or Advisors (investment product
information):Eric Zubris, 800-343-2829, ext. 56152orMedia
Only:James Aber, 617-954-6154orDan Flaherty, 617-954-4256
MFS Intermediate High In... (NYSE:CIF)
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