MFS Taxable Closed-End Funds Announce Adjournment of Special Shareholder Meetings
MWN-AI** Summary
MFS Investment Management has announced the adjournment of special shareholder meetings for several of its closed-end funds, including MFS Charter Income Trust (NYSE: MCR), MFS Intermediate High Income Fund (NYSE: CIF), MFS Government Markets Income Trust (NYSE: MGF), and MFS Intermediate Income Trust (NYSE: MIN), now rescheduled to April 2, 2026. The purpose of these meetings is to solicit additional shareholder votes related to significant proposals involving potential reorganizations.
Each Target Fund's Board of Trustees unanimously approved the proposed reorganizations to merge each Target Fund into MFS Multimarket Income Trust (NYSE: MMT), referred to as the "Surviving Fund." Shareholders as of December 11, 2025, received a proxy statement in early February, detailing the actions considered necessary for the reorganization, which the Board deemed in the best interest of shareholders.
In addition to the reorganizations, shareholders will vote on appointing abrdn, Inc. as the new investment adviser for the Surviving Fund, the election of five new trustees, and the issuance of additional common shares related to the reorganizations.
MFS emphasizes that shareholders should carefully review the information provided in the materials mailed to them to make informed decisions. This press release also contains forward-looking statements reflecting MFS’s expectations, and it cautions that these statements are subject to risks.
MFS Investment Management, established in 1924, specializes in creating long-term value through responsible capital allocation. As of February 28, 2026, the firm manages approximately $669.8 billion in assets, focusing on thoughtful investment strategy and risk management to enhance client portfolios.
MWN-AI** Analysis
MFS Investment Management recently announced the adjournment of shareholder meetings regarding several of its taxable closed-end funds, notably including MFS Charter Income Trust (MCR) and MFS Multimarket Income Trust (MMT). The adjournment allows for additional shareholder votes on significant proposals aimed at reorganizing the Target Funds into the Surviving Fund, which could create a stronger investment vehicle.
From a market perspective, this development may suggest a transitional phase for these funds, one that could entail both risks and opportunities for current and potential investors. While the reorganization aims to optimize fund performance and management efficiency under the new advisory firm, abrdn, Inc., investors should brace for increased volatility as the market digests the implications of these changes.
Investor sentiment may hinge on how shareholders respond to the proposed changes. An affirmative vote could bolster institutional confidence, perhaps leading to improved liquidity and a narrowing of discounts at which these funds might currently trade. However, skepticism surrounding the reorganization could weigh on share prices in the short term. Investors should be vigilant about tracking the voting outcomes on April 2, 2026, as these results could set the tone for the funds' performance going forward.
Furthermore, while the proposed board changes and new management signal a strategic pivot aiming at enhanced governance and operational execution, it remains crucial for investors to assess the historical performance of both the Target Funds and the potential Surviving Fund. A diversified investment approach and a thorough evaluation of risk tolerance will be essential during this period of transition.
In conclusion, while the MFS funds may face uncertainty post-adjournment, proactive investors may wish to engage with this opportunity, leveraging any market volatility to buy positions at attractive valuations, contingent on favorable shareholder outcomes.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
MFS Investment Management (“MFS”) announced today an adjournment of the special meeting of shareholders of MFS Charter Income Trust (NYSE: MCR), MFS Intermediate High Income Fund (NYSE: CIF), MFS Government Markets Income Trust (NYSE: MGF), MFS Intermediate Income Trust (NYSE: MIN) (each a “Target Fund” and collectively, the “Target Funds”), and MFS Multimarket Income Trust (NYSE: MMT) (the “Surviving Fund”) held on March 11, 2026 (each a “Meeting” and collectively, the “Meetings”).
Each Meeting is adjourned to April 2, 2026, at 11:00 a.m. Eastern Time.
The Meetings were adjourned to allow for the solicitation of additional shareholder votes relating to (i) a proposal that each Target Fund’s shareholders approve an Agreement and Plan of Reorganization between each Target Fund and the Surviving Fund (each a “Reorganization” and collectively, the “Reorganizations”) and (ii) a proposal that the Surviving Fund’s shareholders appoint of abrdn, Inc. (“Aberdeen”) as the new investment adviser of the Surviving Fund, elect five new trustees of the Surviving Fund, and approve the issuance of additional common shares of the Surviving Fund in connection with the Reorganizations. Each of these proposals is summarized below.
The Reorganizations
On December 10, 2025, the Board of Trustees (the “Board”) of each Target Fund unanimously approved the Reorganizations. Shareholders of each Target Fund as of December 11, 2025, were mailed a prospectus/proxy statement in early February 2026, providing additional information about each Reorganization and the factors considered by each Target Fund’s Board in approving the relevant Target Fund’s Reorganization. Each Target Fund’s Board determined that the Reorganization of that Target Fund into the Surviving Fund is in the best interests of the Target Fund’s shareholders and recommends shareholders vote in favor of their Target Fund’s Reorganization.
Appointment of Aberdeen as Investment Adviser, the Election of Five New Trustees, and Issuance of Additional Common Shares of the Surviving Fund
On December 10, 2025, the Board of the Surviving Fund unanimously approved (i) a new investment management agreement with Aberdeen, the US Subsidiary of Aberdeen Investments, to serve as the investment adviser to the Surviving Fund following the consummation of the Reorganizations, (ii) the nomination of five new trustees to serve as the Surviving Fund’s board of trustees following the consummation of the Reorganizations, and (iii) the issuance of additional common shares of the Surviving Fund to accommodate the Reorganizations. Shareholders of the Surviving Fund as of December 11, 2025, were mailed a proxy statement in early February 2026, providing additional information and soliciting a vote in favor of each proposal, all of which are recommended by the Surviving Fund’s Board.
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain statements regarding plans and expectations for the future that constitute forward-looking statements within The Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking and can be identified by the use of words such as "may," "will," "expect," "anticipate," "estimate," "believe," "continue," or other similar words. Such forward-looking statements are based on the fund's current plans and expectations, are not guarantees of future results or performance, and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. All forward-looking statements are as of the date of this release only; the funds undertake no obligation to update or review any forward-looking statements. You are urged to carefully consider all such factors.
About the Funds
The funds are closed-end investment company products advised by MFS Investment Management. Closed-end funds, unlike open-end funds, are not continuously offered. There is a one-time public offering and once issued, common shares of the funds are bought and sold in the open market through a stock exchange. Shares may trade at a discount to the net asset value per share. Shares of the funds are not FDIC-insured and are not deposits or other obligations of, or guaranteed by, any bank. Shares of the funds involve investment risk, including possible loss of principal.
About MFS Investment Management
In 1924, MFS launched the first US open-end mutual fund, opening the door to the markets for millions of everyday investors. Today, as a full-service global investment manager serving financial advisors, intermediaries and institutional clients, MFS still serves a single purpose: to create long term value for clients by allocating capital responsibly. That takes our powerful investment approach combining collective expertise, thoughtful risk management and long-term discipline. Supported by our culture of shared values and collaboration, our teams of diverse thinkers actively debate ideas and assess material risks to uncover what we believe are the best investment opportunities in the market. As of February 28, 2026, MFS had approximately US$669.8 billion in assets under management.
MFS Investment Management
111 Huntington Ave., Boston, MA 02199
View source version on businesswire.com: https://www.businesswire.com/news/home/20260312420695/en/
Media: Dan Flaherty, +1 617.954.4256
For Shareholders/Advisors: Brian Mastrullo , +1 617.954.7940
FAQ**
What are the key objectives behind the proposed Reorganizations for MFS Multimarket Income Trust (MMT) and the Target Funds involved in the adjourned meetings?
How does the appointment of Aberdeen as the new investment adviser impact the investment strategy for MFS Multimarket Income Trust (MMT) and its performance post-Reorganization?
What specific factors did the Board of Trustees consider when unanimously recommending the Reorganizations for MFS Multimarket Income Trust (MMT) and the Target Funds?
Can you provide insights on the potential risks associated with the issuance of additional common shares of MFS Multimarket Income Trust (MMT) during the Reorganization process?
**MWN-AI FAQ is based on asking OpenAI questions about MFS Charter Income Trust (NYSE: MCR).
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