UNITED STATES
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-02594
MFS SERIES TRUST IV
(Exact name of registrant as specified in charter)
111 Huntington Avenue, Boston, Massachusetts 02199 (Address of principal executive offices) (Zip code)
Christopher R. Bohane
Massachusetts Financial Services Company
111Huntington Avenue Boston, Massachusetts 02199
(Name and address of agents for service)
Registrant's telephone number, including area code: (617) 954-5000
Date of fiscal year end: August 31
Date of reporting period: February 28, 2023
ITEM 1. REPORTS TO STOCKHOLDERS.
Item 1(a):
Equity Fund
Equity Fund
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back cover |
Taiwan Semiconductor Manufacturing Co. Ltd. | 7.3% |
Tencent Holdings Ltd. | 4.2% |
Samsung Electronics Co. Ltd. | 3.9% |
Ping An Insurance Co. of China Ltd., “H” | 1.6% |
Hon Hai Precision Industry Co. Ltd. | 1.6% |
KB Financial Group, Inc. | 1.6% |
Tata Consultancy Services Ltd. | 1.5% |
China Petroleum & Chemical Corp. | 1.4% |
Alibaba Group Holding Ltd., ADR | 1.3% |
Meituan, “B” | 1.3% |
Information Technology | 21.0% |
Financials | 20.5% |
Consumer Discretionary | 14.2% |
Communication Services | 10.3% |
Materials | 7.9% |
Consumer Staples | 7.2% |
Industrials | 5.9% |
Energy | 4.4% |
Health Care | 4.0% |
Utilities | 2.1% |
Real Estate | 1.7% |
China | 31.9% |
Taiwan | 15.3% |
South Korea | 12.7% |
India | 11.7% |
Brazil | 5.7% |
South Africa | 3.7% |
Indonesia | 3.1% |
Mexico | 2.4% |
Saudi Arabia | 2.0% |
Other Countries | 11.5% |
Hong Kong Dollar | 26.1% |
Taiwan Dollar | 15.3% |
South Korean Won | 12.7% |
Indian Rupee | 11.7% |
Brazilian Real | 5.6% |
Chinese Renminbi | 4.9% |
South African Rand | 3.7% |
United States Dollar | 3.3% |
Indonesian Rupiah | 3.1% |
Other Currencies | 13.6% |
(g) | The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. (“S&P Global Market Intelligence”). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS. |
(x) | Represents the portfolio’s exposure to issuer countries as a percentage of a portfolio’s net assets. For purposes of this presentation, United States (included in Other Countries) includes Cash & Cash Equivalents. |
(y) | Represents the portfolio’s exposure to a particular currency as a percentage of a portfolio's net assets. For purposes of this presentation, United States Dollar includes Cash & Cash Equivalents. |
September 1, 2022 through February 28, 2023
Share Class | Annualized Expense Ratio | Beginning Account Value 9/01/22 | Ending Account Value 2/28/23 | Expenses Paid During Period (p) 9/01/22-2/28/23 | |
A | Actual | 1.25% | $1,000.00 | $1,007.35 | $6.22 |
Hypothetical (h) | 1.25% | $1,000.00 | $1,018.60 | $6.26 | |
B | Actual | 2.00% | $1,000.00 | $1,003.44 | $9.93 |
Hypothetical (h) | 2.00% | $1,000.00 | $1,014.88 | $9.99 | |
C | Actual | 2.00% | $1,000.00 | $1,003.58 | $9.94 |
Hypothetical (h) | 2.00% | $1,000.00 | $1,014.88 | $9.99 | |
I | Actual | 1.00% | $1,000.00 | $1,008.35 | $4.98 |
Hypothetical (h) | 1.00% | $1,000.00 | $1,019.84 | $5.01 | |
R1 | Actual | 1.25% | $1,000.00 | $1,007.42 | $6.22 |
Hypothetical (h) | 1.25% | $1,000.00 | $1,018.60 | $6.26 | |
R2 | Actual | 1.50% | $1,000.00 | $1,006.35 | $7.46 |
Hypothetical (h) | 1.50% | $1,000.00 | $1,017.36 | $7.50 | |
R3 | Actual | 1.25% | $1,000.00 | $1,007.78 | $6.22 |
Hypothetical (h) | 1.25% | $1,000.00 | $1,018.60 | $6.26 | |
R4 | Actual | 1.00% | $1,000.00 | $1,009.17 | $4.98 |
Hypothetical (h) | 1.00% | $1,000.00 | $1,019.84 | $5.01 | |
R6 | Actual | 0.88% | $1,000.00 | $1,009.39 | $4.38 |
Hypothetical (h) | 0.88% | $1,000.00 | $1,020.43 | $4.41 |
(h) | 5% class return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – 97.7% | ||||
Aerospace & Defense – 0.6% | ||||
Bharat Electronics Ltd. | 228,479 | $261,458 | ||
Airlines – 1.3% | ||||
Copa Holdings S.A., “A” (a) | 2,670 | $246,575 | ||
Saudi Airlines Catering Co. (a) | 10,892 | 229,586 | ||
Turkish Airlines (a) | 10,491 | 79,773 | ||
$555,934 | ||||
Alcoholic Beverages – 1.7% | ||||
Ambev S.A. | 63,200 | $161,638 | ||
China Resources Beer Holdings Co. Ltd. | 20,000 | 147,654 | ||
Jiangsu Yanghe Brewery JSC Ltd., “A” | 10,600 | 259,692 | ||
Kweichow Moutai Co. Ltd., “A” | 800 | 209,095 | ||
$778,079 | ||||
Automotive – 3.9% | ||||
BYD Co. Ltd. | 14,000 | $376,691 | ||
Dongfeng Motor Group Co., Ltd. | 156,000 | 79,696 | ||
Kia Corp. | 5,114 | 291,014 | ||
Mahindra & Mahindra Ltd. | 36,873 | 566,292 | ||
Maruti Suzuki India Ltd. | 4,163 | 434,308 | ||
$1,748,001 | ||||
Biotechnology – 0.7% | ||||
3SBio, Inc. | 64,500 | $63,930 | ||
Hugel, Inc. (a) | 2,482 | 242,151 | ||
$306,081 | ||||
Broadcasting – 0.2% | ||||
Saudi Research and Media Group (a) | 1,577 | $78,248 | ||
Brokerage & Asset Managers – 0.3% | ||||
B3 Brasil Bolsa Balcao S.A. | 64,900 | $130,781 | ||
Moscow Exchange MICEX-RTS PJSC (a)(u) | 57,902 | 0 | ||
$130,781 | ||||
Business Services – 3.3% | ||||
HCL Technologies Ltd. | 24,470 | $318,975 | ||
Multiply Group (a) | 82,376 | 89,707 | ||
Tata Consultancy Services Ltd. | 16,777 | 672,328 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Business Services – continued | ||||
WNS (Holdings) Ltd., ADR (a) | 4,268 | $370,975 | ||
$1,451,985 | ||||
Chemicals – 0.5% | ||||
SABIC Agri-Nutrients Co. | 6,196 | $220,587 | ||
Computer Software – 1.8% | ||||
Kingsoft Corp. | 59,400 | $195,619 | ||
NetEase, Inc. | 10,100 | 155,822 | ||
NetEase, Inc., ADR | 5,554 | 431,212 | ||
$782,653 | ||||
Computer Software - Systems – 5.7% | ||||
Hon Hai Precision Industry Co. Ltd. | 214,000 | $709,365 | ||
Samsung Electronics Co. Ltd. | 38,313 | 1,754,595 | ||
Tata Elxsi Ltd. | 812 | 60,205 | ||
$2,524,165 | ||||
Conglomerates – 0.7% | ||||
CITIC Pacific Ltd. | 273,000 | $301,192 | ||
Construction – 3.0% | ||||
Anhui Conch Cement Co. Ltd. | 92,000 | $337,554 | ||
Midea Group Co. Ltd., “A” | 32,100 | 242,667 | ||
Techtronic Industries Co. Ltd. | 8,000 | 79,548 | ||
Ultratech Cement Ltd. | 4,264 | 374,539 | ||
Zhejiang Supor Co. Ltd., “A” | 36,000 | 295,340 | ||
$1,329,648 | ||||
Consumer Products – 0.8% | ||||
AmorePacific Corp. | 3,586 | $375,063 | ||
Consumer Services – 0.6% | ||||
Afya Ltd. (a) | 3,300 | $38,214 | ||
HeadHunter Group PLC, ADR (a)(u) | 3,158 | 0 | ||
TravelSky Technology Ltd. | 116,000 | 228,767 | ||
$266,981 | ||||
Electrical Equipment – 2.1% | ||||
Advantech Co. Ltd. | 30,000 | $349,036 | ||
Contemporary Amperex Technology Co. Ltd., “A” | 1,200 | 69,845 | ||
Voltronic Power Technology Corp. | 10,000 | 526,756 | ||
$945,637 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Electronics – 10.4% | ||||
Catcher Technology Co., Ltd. | 42,000 | $254,320 | ||
eMemory Technology, Inc. | 2,000 | 121,150 | ||
MediaTek, Inc. | 11,000 | 258,901 | ||
Novatek Microelectronics Corp. | 31,000 | 411,558 | ||
Realtek Semiconductor Corp. | 18,000 | 222,717 | ||
Taiwan Semiconductor Manufacturing Co. Ltd. | 196,000 | 3,249,299 | ||
Unimicron Technology Corp. | 29,000 | 120,288 | ||
$4,638,233 | ||||
Energy - Independent – 0.6% | ||||
Reliance Industries Ltd. | 9,844 | $276,568 | ||
Energy - Integrated – 3.3% | ||||
China Petroleum & Chemical Corp. | 1,254,000 | $640,627 | ||
LUKOIL PJSC (a)(u) | 9,157 | 0 | ||
Oil & Natural Gas Corp. Ltd. | 91,763 | 168,779 | ||
Petrobras | 95,700 | 525,528 | ||
Sasol Ltd. | 9,231 | 135,884 | ||
$1,470,818 | ||||
Energy - Renewables – 0.3% | ||||
Daqo New Energy Corp., ADR (a) | 1,852 | $81,822 | ||
LONGi Green Energy Technology Co., Ltd., “A” | 11,400 | 72,677 | ||
$154,499 | ||||
Engineering - Construction – 0.6% | ||||
Doosan Bobcat, Inc. | 8,771 | $251,215 | ||
Food & Beverages – 2.3% | ||||
AVI Ltd. | 57,089 | $236,625 | ||
Gruma S.A.B. de C.V. | 13,159 | 192,899 | ||
Inner Mongolia Yili Industrial Group Co. Ltd., “A” | 57,464 | 252,234 | ||
Orion Corp. | 3,408 | 321,935 | ||
$1,003,693 | ||||
Food & Drug Stores – 0.9% | ||||
BIM Birlesik Magazalar A.S. | 56,570 | $408,287 | ||
Gaming & Lodging – 0.7% | ||||
Genting Berhad | 188,800 | $196,057 | ||
OPAP S.A. | 6,574 | 102,075 | ||
$298,132 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Insurance – 3.9% | ||||
China Pacific Insurance Co. Ltd. | 168,800 | $447,301 | ||
Meritz Financial Group Inc. | 2,450 | 83,318 | ||
Ping An Insurance Co. of China Ltd., “H” | 107,500 | 729,960 | ||
Samsung Fire & Marine Insurance Co. Ltd. | 2,937 | 476,090 | ||
$1,736,669 | ||||
Internet – 4.5% | ||||
Baidu, Inc., “A” (a) | 7,097 | $121,879 | ||
Tencent Holdings Ltd. | 43,100 | 1,886,661 | ||
$2,008,540 | ||||
Leisure & Toys – 1.2% | ||||
Naspers Ltd. | 800 | $141,881 | ||
NCsoft Corp. | 1,127 | 370,059 | ||
$511,940 | ||||
Machinery & Tools – 0.2% | ||||
Globalwafers Co., Ltd. | 6,000 | $99,842 | ||
Major Banks – 3.3% | ||||
ABSA Group Ltd. | 10,189 | $110,101 | ||
Bandhan Bank Ltd. (a) | 43,055 | 120,258 | ||
Bank of China Ltd. | 1,292,000 | 474,044 | ||
Industrial & Commercial Bank of China, “H” | 355,000 | 177,287 | ||
Nedbank Group Ltd. | 39,774 | 499,378 | ||
Woori Financial Group, Inc. | 10,498 | 96,789 | ||
$1,477,857 | ||||
Medical & Health Technology & Services – 0.7% | ||||
Bumrungrad Hospital PCL | 22,400 | $133,102 | ||
Dr. Sulaiman Al Habib Medical Services Group | 3,195 | 197,354 | ||
$330,456 | ||||
Medical Equipment – 0.4% | ||||
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., “A” | 4,000 | $181,007 | ||
Metals & Mining – 4.7% | ||||
African Rainbow Minerals Ltd. | 14,800 | $205,008 | ||
Alrosa PJSC (a)(u) | 143,843 | 0 | ||
China Hongqiao Group Ltd. | 171,000 | 182,777 | ||
China Shenhua Energy Co. Ltd. | 120,000 | 360,792 | ||
Hindalco Industries Ltd. | 18,980 | 91,654 | ||
Industries Qatar Q.P.S.C. | 52,777 | 201,732 | ||
Jiangxi Copper Co. Ltd., “H” | 145,700 | 229,426 | ||
Kumba Iron Ore Ltd. | 7,079 | 184,659 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Metals & Mining – continued | ||||
POSCO Holdings, Inc. | 675 | $162,214 | ||
Tata Steel Ltd. | 166,353 | 209,180 | ||
Vale S.A. | 16,700 | 272,153 | ||
$2,099,595 | ||||
Natural Gas - Distribution – 0.3% | ||||
China Resources Gas Group Ltd. | 34,700 | $146,326 | ||
Other Banks & Diversified Financials – 13.0% | ||||
Bank of Communications Co. Ltd. | 376,000 | $222,264 | ||
BNK Financial Group, Inc. | 32,328 | 163,686 | ||
Chailease Holding Co. | 41,632 | 305,841 | ||
China Construction Bank Corp. | 826,000 | 505,109 | ||
China Merchants Bank Co. Ltd. | 51,000 | 276,136 | ||
Credicorp Ltd. | 3,203 | 408,126 | ||
Emirates NBD PJSC | 99,203 | 367,309 | ||
Hana Financial Group, Inc. | 7,428 | 254,851 | ||
HDFC Bank Ltd., ADR | 7,510 | 507,976 | ||
Housing Development Finance Corp. Ltd. | 11,630 | 367,108 | ||
KB Financial Group, Inc. | 17,846 | 691,857 | ||
Komercní banka A.S. | 12,189 | 411,235 | ||
Kotak Mahindra Bank Ltd. | 10,423 | 218,030 | ||
PT Bank Central Asia Tbk | 570,500 | 327,336 | ||
PT Bank Mandiri Tbk | 476,400 | 312,393 | ||
Sberbank of Russia PJSC (a)(u) | 177,552 | 0 | ||
TCS Group Holding PLC, GDR (a)(u) | 3,991 | 0 | ||
Tisco Financial Group PCL | 146,100 | 425,800 | ||
$5,765,057 | ||||
Pharmaceuticals – 2.1% | ||||
China Medical System Holdings Ltd. | 57,000 | $85,688 | ||
China Resources Pharmaceutical Group Ltd. | 183,500 | 150,785 | ||
Gedeon Richter PLC | 8,525 | 178,860 | ||
Genomma Lab Internacional S.A., “B” | 188,629 | 152,272 | ||
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., “A” | 24,700 | 112,370 | ||
Hypera S.A. | 9,907 | 78,814 | ||
Kalbe Farma Tbk PT | 1,288,600 | 178,292 | ||
$937,081 | ||||
Railroad & Shipping – 0.6% | ||||
China Cosco Holdings | 89,750 | $93,073 | ||
Evergreen Marine Corp. (Taiwan) Ltd. | 34,000 | 174,000 | ||
$267,073 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Real Estate – 1.2% | ||||
Central Pattana PLC, “A” | 75,800 | $150,672 | ||
Emaar Properties PJSC | 112,036 | 170,810 | ||
Greentown China Holdings Ltd. | 75,000 | 102,428 | ||
NEPI Rockcastle N.V. | 18,350 | 110,080 | ||
$533,990 | ||||
Restaurants – 1.9% | ||||
Alsea S.A.B. de C.V. (a) | 71,857 | $158,823 | ||
Haidilao International Holding Ltd. (a) | 39,000 | 107,817 | ||
Jollibee Foods Corp. | 29,250 | 126,829 | ||
Yum China Holdings, Inc. | 7,561 | 444,058 | ||
$837,527 | ||||
Specialty Chemicals – 0.7% | ||||
Borouge PLC | 162,980 | $113,146 | ||
Sahara International Petrochemical Co. | 20,390 | 192,346 | ||
$305,492 | ||||
Specialty Stores – 8.1% | ||||
Alibaba Group Holding Ltd. (a) | 51,500 | $567,528 | ||
Alibaba Group Holding Ltd., ADR (a) | 6,725 | 590,388 | ||
Cencosud S.A. | 38,695 | 73,166 | ||
JD.com, Inc., “A” | 9,428 | 208,633 | ||
JD.com, Inc., ADR | 7,966 | 354,009 | ||
Meituan, “B” (a) | 32,860 | 569,756 | ||
Multiplan Empreendimentos Imobiliarios S.A. | 48,646 | 233,871 | ||
PDD Holdings, Inc., ADR (a) | 3,378 | 296,352 | ||
Vipshop Holdings Ltd., ADR (a) | 8,338 | 124,153 | ||
Walmart de Mexico S.A.B. de C.V. | 144,283 | 567,858 | ||
$3,585,714 | ||||
Telecommunications - Wireless – 1.6% | ||||
Ooredoo Q.P.S.C. | 43,450 | $109,766 | ||
PT Telekom Indonesia | 2,173,200 | 552,919 | ||
Turkcell Iletisim Hizmetleri A.S. | 26,330 | 44,504 | ||
$707,189 | ||||
Telephone Services – 1.4% | ||||
Hellenic Telecommunications Organization S.A. | 35,896 | $551,284 | ||
KT Corp., ADR | 7,955 | 92,039 | ||
$643,323 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Utilities - Electric Power – 1.6% | ||||
Adani Power Ltd. (a) | 36,601 | $64,774 | ||
Energisa S.A., IEU | 52,000 | 384,280 | ||
ENGIE Energía Brasil S.A. | 18,565 | 139,288 | ||
NTPC Ltd. | 58,408 | 120,465 | ||
$708,807 | ||||
Total Common Stocks (Identified Cost, $40,776,190) | $43,441,423 | |||
Preferred Stocks – 1.5% | ||||
Metals & Mining – 1.0% | ||||
Gerdau S.A. | 86,500 | $473,024 | ||
Specialty Chemicals – 0.3% | ||||
Sociedad Química y Minera de Chile S.A. | 1,374 | $122,830 | ||
Utilities - Electric Power – 0.2% | ||||
Companhia Energetica de Minas Gerais | 44,500 | $89,077 | ||
Total Preferred Stocks (Identified Cost, $631,042) | $684,931 | |||
Investment Companies (h) – 1.1% | ||||
Money Market Funds – 1.1% | ||||
MFS Institutional Money Market Portfolio, 4.55% (v) (Identified Cost, $482,980) | 482,980 | $482,980 | ||
Other Assets, Less Liabilities – (0.3)% | (139,294) | |||
Net Assets – 100.0% | $44,470,040 |
(a) | Non-income producing security. | |||
(h) | An affiliated issuer, which may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated issuers and in unaffiliated issuers were $482,980 and $44,126,354, respectively. | |||
(u) | The security was valued using significant unobservable inputs and is considered level 3 under the fair value hierarchy. For further information about the fund’s level 3 holdings, please see Note 2 in the Notes to Financial Statements. | |||
(v) | Affiliated issuer that is available only to investment companies managed by MFS. The rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end. |
The following abbreviations are used in this report and are defined: | |
ADR | American Depositary Receipt |
GDR | Global Depositary Receipt |
IEU | International Equity Unit |
PCL | Public Company Limited |
Assets | |
Investments in unaffiliated issuers, at value (identified cost, $41,407,232) | $44,126,354 |
Investments in affiliated issuers, at value (identified cost, $482,980) | 482,980 |
Foreign currency, at value (identified cost, $3,607) | 3,615 |
Receivables for | |
Fund shares sold | 108,887 |
Dividends | 237,536 |
Receivable from investment adviser | 26,481 |
Other assets | 309 |
Total assets | $44,986,162 |
Liabilities | |
Payables for | |
Investments purchased | $97,654 |
Fund shares reacquired | 269,229 |
Payable to affiliates | |
Administrative services fee | 96 |
Shareholder servicing costs | 3,778 |
Distribution and service fees | 89 |
Payable for independent Trustees' compensation | 495 |
Deferred country tax expense payable | 6,689 |
Accrued expenses and other liabilities | 138,092 |
Total liabilities | $516,122 |
Net assets | $44,470,040 |
Net assets consist of | |
Paid-in capital | $45,025,065 |
Total distributable earnings (loss) | (555,025) |
Net assets | $44,470,040 |
Shares of beneficial interest outstanding | 3,738,418 |
Net assets | Shares outstanding | Net asset value per share (a) | |
Class A | $4,390,736 | 369,574 | $11.88 |
Class B | 259,602 | 22,052 | 11.77 |
Class C | 184,043 | 15,604 | 11.79 |
Class I | 19,833,217 | 1,669,082 | 11.88 |
Class R1 | 69,722 | 5,914 | 11.79 |
Class R2 | 71,294 | 6,009 | 11.86 |
Class R3 | 110,621 | 9,311 | 11.88 |
Class R4 | 103,062 | 8,656 | 11.91 |
Class R6 | 19,447,743 | 1,632,216 | 11.91 |
(a) | Maximum offering price per share was equal to the net asset value per share for all share classes, except for Class A, for which the maximum offering price per share was $12.60 [100 / 94.25 x $11.88]. On sales of $50,000 or more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions of Class A, Class B, and Class C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and R6. |
Net investment income (loss) | |
Income | |
Dividends | $680,003 |
Dividends from affiliated issuers | 7,621 |
Other | 4,827 |
Income on securities loaned | 1 |
Foreign taxes withheld | (70,880) |
Total investment income | $621,572 |
Expenses | |
Management fee | $159,005 |
Distribution and service fees | 7,945 |
Shareholder servicing costs | 17,882 |
Administrative services fee | 8,679 |
Independent Trustees' compensation | 1,490 |
Custodian fee | 66,272 |
Shareholder communications | 4,667 |
Audit and tax fees | 45,538 |
Legal fees | 120 |
Registration fees | 60,530 |
Miscellaneous | 17,193 |
Total expenses | $389,321 |
Reduction of expenses by investment adviser | (180,941) |
Net expenses | $208,380 |
Net investment income (loss) | $413,192 |
Realized and unrealized gain (loss) | |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers (net of $734 country tax) | $(1,991,704) |
Affiliated issuers | 266 |
Foreign currency | (385) |
Net realized gain (loss) | $(1,991,823) |
Change in unrealized appreciation or depreciation | |
Unaffiliated issuers (net of $30,966 decrease in deferred country tax) | $2,582,090 |
Translation of assets and liabilities in foreign currencies | (7,871) |
Net unrealized gain (loss) | $2,574,219 |
Net realized and unrealized gain (loss) | $582,396 |
Change in net assets from operations | $995,588 |
Six months ended | Year ended | |
2/28/23 (unaudited) | 8/31/22 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $413,192 | $1,448,957 |
Net realized gain (loss) | (1,991,823) | 344,817 |
Net unrealized gain (loss) | 2,574,219 | (13,218,517) |
Change in net assets from operations | $995,588 | $(11,424,743) |
Total distributions to shareholders | $(1,376,015) | $(2,127,297) |
Change in net assets from fund share transactions | $4,857,198 | $(6,641,570) |
Total change in net assets | $4,476,771 | $(20,193,610) |
Net assets | ||
At beginning of period | 39,993,269 | 60,186,879 |
At end of period | $44,470,040 | $39,993,269 |
Class A | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $12.11 | $15.96 | $12.97 | $12.12 | $13.66 | $14.37 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.10 | $0.37 | $0.23 | $0.24 | $0.25 | $0.24 |
Net realized and unrealized gain (loss) | (0.02)(g) | (3.70) | 2.96 | 0.81 | (1.20) | (0.32) |
Total from investment operations | $0.08 | $(3.33) | $3.19 | $1.05 | $(0.95) | $(0.08) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.31) | $(0.25) | $(0.20) | $(0.20) | $(0.22) | $(0.16) |
From net realized gain | — | (0.27) | — | — | (0.37) | (0.47) |
Total distributions declared to shareholders | $(0.31) | $(0.52) | $(0.20) | $(0.20) | $(0.59) | $(0.63) |
Net asset value, end of period (x) | $11.88 | $12.11 | $15.96 | $12.97 | $12.12 | $13.66 |
Total return (%) (r)(s)(t)(x) | 0.73(n) | (21.42) | 24.78 | 8.63 | (6.77) | (0.77) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 2.11(a) | 1.94 | 1.82 | 2.39 | 2.95 | 2.94 |
Expenses after expense reductions | 1.25(a) | 1.24 | 1.24 | 1.24 | 1.24 | 1.23 |
Net investment income (loss) | 1.70(a) | 2.62 | 1.50 | 1.98 | 2.01 | 1.65 |
Portfolio turnover | 36(n) | 58 | 60 | 63 | 64 | 58 |
Net assets at end of period (000 omitted) | $4,391 | $4,797 | $7,869 | $5,702 | $5,174 | $7,145 |
Class B | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $11.96 | $15.75 | $12.81 | $11.99 | $13.54 | $14.27 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.06 | $0.28 | $0.11 | $0.15 | $0.21 | $0.12 |
Net realized and unrealized gain (loss) | (0.02)(g) | (3.67) | 2.93 | 0.80 | (1.25) | (0.30) |
Total from investment operations | $0.04 | $(3.39) | $3.04 | $0.95 | $(1.04) | $(0.18) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.23) | $(0.13) | $(0.10) | $(0.13) | $(0.14) | $(0.08) |
From net realized gain | — | (0.27) | — | — | (0.37) | (0.47) |
Total distributions declared to shareholders | $(0.23) | $(0.40) | $(0.10) | $(0.13) | $(0.51) | $(0.55) |
Net asset value, end of period (x) | $11.77 | $11.96 | $15.75 | $12.81 | $11.99 | $13.54 |
Total return (%) (r)(s)(t)(x) | 0.34(n) | (21.98) | 23.77 | 7.88 | (7.51) | (1.47) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 2.85(a) | 2.71 | 2.58 | 3.19 | 3.70 | 3.67 |
Expenses after expense reductions | 2.00(a) | 1.99 | 1.99 | 1.99 | 1.99 | 1.98 |
Net investment income (loss) | 0.96(a) | 2.02 | 0.72 | 1.22 | 1.63 | 0.79 |
Portfolio turnover | 36(n) | 58 | 60 | 63 | 64 | 58 |
Net assets at end of period (000 omitted) | $260 | $276 | $403 | $312 | $391 | $318 |
Class C | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $11.95 | $15.72 | $12.78 | $11.95 | $13.50 | $14.23 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.06 | $0.26 | $0.11 | $0.15 | $0.16 | $0.11 |
Net realized and unrealized gain (loss) | (0.02)(g) | (3.65) | 2.93 | 0.78 | (1.19) | (0.29) |
Total from investment operations | $0.04 | $(3.39) | $3.04 | $0.93 | $(1.03) | $(0.18) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.20) | $(0.11) | $(0.10) | $(0.10) | $(0.15) | $(0.08) |
From net realized gain | — | (0.27) | — | — | (0.37) | (0.47) |
Total distributions declared to shareholders | $(0.20) | $(0.38) | $(0.10) | $(0.10) | $(0.52) | $(0.55) |
Net asset value, end of period (x) | $11.79 | $11.95 | $15.72 | $12.78 | $11.95 | $13.50 |
Total return (%) (r)(s)(t)(x) | 0.36(n) | (22.02) | 23.87 | 7.78 | (7.51) | (1.48) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 2.86(a) | 2.69 | 2.58 | 3.19 | 3.70 | 3.64 |
Expenses after expense reductions | 2.00(a) | 1.99 | 1.99 | 1.99 | 1.99 | 1.99 |
Net investment income (loss) | 0.98(a) | 1.85 | 0.72 | 1.22 | 1.31 | 0.75 |
Portfolio turnover | 36(n) | 58 | 60 | 63 | 64 | 58 |
Net assets at end of period (000 omitted) | $184 | $224 | $410 | $344 | $420 | $453 |
Class I | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $12.14 | $16.00 | $13.00 | $12.16 | $13.71 | $14.41 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.11 | $0.39 | $0.28 | $0.29 | $0.29 | $0.34 |
Net realized and unrealized gain (loss) | (0.01)(g) | (3.69) | 2.96 | 0.80 | (1.22) | (0.39) |
Total from investment operations | $0.10 | $(3.30) | $3.24 | $1.09 | $(0.93) | $(0.05) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.36) | $(0.29) | $(0.24) | $(0.25) | $(0.25) | $(0.18) |
From net realized gain | — | (0.27) | — | — | (0.37) | (0.47) |
Total distributions declared to shareholders | $(0.36) | $(0.56) | $(0.24) | $(0.25) | $(0.62) | $(0.65) |
Net asset value, end of period (x) | $11.88 | $12.14 | $16.00 | $13.00 | $12.16 | $13.71 |
Total return (%) (r)(s)(t)(x) | 0.84(n) | (21.21) | 25.10 | 8.89 | (6.55) | (0.55) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.84(a) | 1.67 | 1.57 | 1.91 | 2.70 | 2.78 |
Expenses after expense reductions | 1.00(a) | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 |
Net investment income (loss) | 1.97(a) | 2.77 | 1.83 | 2.46 | 2.26 | 2.30 |
Portfolio turnover | 36(n) | 58 | 60 | 63 | 64 | 58 |
Net assets at end of period (000 omitted) | $19,833 | $17,811 | $33,247 | $21,273 | $1,811 | $2,343 |
Class R1 | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $12.03 | $15.84 | $12.84 | $12.01 | $13.57 | $14.27 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.10 | $0.39 | $0.17 | $0.15 | $0.17 | $0.10 |
Net realized and unrealized gain (loss) | (0.02)(g) | (3.70) | 2.94 | 0.80 | (1.20) | (0.28) |
Total from investment operations | $0.08 | $(3.31) | $3.11 | $0.95 | $(1.03) | $(0.18) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.32) | $(0.23) | $(0.11) | $(0.12) | $(0.16) | $(0.05) |
From net realized gain | — | (0.27) | — | — | (0.37) | (0.47) |
Total distributions declared to shareholders | $(0.32) | $(0.50) | $(0.11) | $(0.12) | $(0.53) | $(0.52) |
Net asset value, end of period (x) | $11.79 | $12.03 | $15.84 | $12.84 | $12.01 | $13.57 |
Total return (%) (r)(s)(t)(x) | 0.74(n) | (21.43) | 24.32 | 7.84 | (7.47) | (1.49) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 2.10(a) | 1.96 | 2.18 | 3.14 | 3.70 | 3.64 |
Expenses after expense reductions | 1.25(a) | 1.24 | 1.59 | 1.99 | 1.99 | 1.99 |
Net investment income (loss) | 1.70(a) | 2.82 | 1.11 | 1.25 | 1.32 | 0.70 |
Portfolio turnover | 36(n) | 58 | 60 | 63 | 64 | 58 |
Net assets at end of period (000 omitted) | $70 | $69 | $88 | $71 | $66 | $71 |
Class R2 | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $12.08 | $15.93 | $12.95 | $12.11 | $13.66 | $14.36 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.08 | $0.36 | $0.18 | $0.21 | $0.23 | $0.18 |
Net realized and unrealized gain (loss) | (0.01)(g) | (3.73) | 2.97 | 0.81 | (1.20) | (0.30) |
Total from investment operations | $0.07 | $(3.37) | $3.15 | $1.02 | $(0.97) | $(0.12) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.29) | $(0.21) | $(0.17) | $(0.18) | $(0.21) | $(0.11) |
From net realized gain | — | (0.27) | — | — | (0.37) | (0.47) |
Total distributions declared to shareholders | $(0.29) | $(0.48) | $(0.17) | $(0.18) | $(0.58) | $(0.58) |
Net asset value, end of period (x) | $11.86 | $12.08 | $15.93 | $12.95 | $12.11 | $13.66 |
Total return (%) (r)(s)(t)(x) | 0.64(n) | (21.67) | 24.47 | 8.35 | (6.97) | (1.03) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 2.35(a) | 2.22 | 2.08 | 2.64 | 3.20 | 3.14 |
Expenses after expense reductions | 1.50(a) | 1.49 | 1.49 | 1.49 | 1.49 | 1.49 |
Net investment income (loss) | 1.45(a) | 2.57 | 1.21 | 1.75 | 1.82 | 1.20 |
Portfolio turnover | 36(n) | 58 | 60 | 63 | 64 | 58 |
Net assets at end of period (000 omitted) | $71 | $71 | $90 | $73 | $67 | $72 |
Class R3 | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $12.12 | $15.98 | $12.98 | $12.14 | $13.69 | $14.39 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.10 | $0.41 | $0.23 | $0.21 | $0.24 | $0.24 |
Net realized and unrealized gain (loss) | (0.01)(g) | (3.75) | 2.97 | 0.83 | (1.19) | (0.32) |
Total from investment operations | $0.09 | $(3.34) | $3.20 | $1.04 | $(0.95) | $(0.08) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.33) | $(0.25) | $(0.20) | $(0.20) | $(0.23) | $(0.15) |
From net realized gain | — | (0.27) | — | — | (0.37) | (0.47) |
Total distributions declared to shareholders | $(0.33) | $(0.52) | $(0.20) | $(0.20) | $(0.60) | $(0.62) |
Net asset value, end of period (x) | $11.88 | $12.12 | $15.98 | $12.98 | $12.14 | $13.69 |
Total return (%) (r)(s)(t)(x) | 0.78(n) | (21.45) | 24.80 | 8.52 | (6.75) | (0.80) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 2.10(a) | 1.99 | 1.82 | 2.43 | 2.95 | 2.94 |
Expenses after expense reductions | 1.25(a) | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 |
Net investment income (loss) | 1.70(a) | 2.96 | 1.50 | 1.71 | 1.89 | 1.66 |
Portfolio turnover | 36(n) | 58 | 60 | 63 | 64 | 58 |
Net assets at end of period (000 omitted) | $111 | $118 | $107 | $81 | $71 | $102 |
Class R4 | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $12.16 | $16.03 | $13.02 | $12.17 | $13.72 | $14.41 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.11 | $0.43 | $0.26 | $0.28 | $0.30 | $0.26 |
Net realized and unrealized gain (loss) | 0.00(g)(w) | (3.74) | 2.98 | 0.81 | (1.23) | (0.30) |
Total from investment operations | $0.11 | $(3.31) | $3.24 | $1.09 | $(0.93) | $(0.04) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.36) | $(0.29) | $(0.23) | $(0.24) | $(0.25) | $(0.18) |
From net realized gain | — | (0.27) | — | — | (0.37) | (0.47) |
Total distributions declared to shareholders | $(0.36) | $(0.56) | $(0.23) | $(0.24) | $(0.62) | $(0.65) |
Net asset value, end of period (x) | $11.91 | $12.16 | $16.03 | $13.02 | $12.17 | $13.72 |
Total return (%) (r)(s)(t)(x) | 0.92(n) | (21.24) | 25.10 | 8.90 | (6.55) | (0.50) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.85(a) | 1.72 | 1.58 | 2.14 | 2.70 | 2.66 |
Expenses after expense reductions | 1.00(a) | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 |
Net investment income (loss) | 1.95(a) | 3.12 | 1.70 | 2.25 | 2.36 | 1.76 |
Portfolio turnover | 36(n) | 58 | 60 | 63 | 64 | 58 |
Net assets at end of period (000 omitted) | $103 | $104 | $118 | $97 | $85 | $82 |
Class R6 | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $12.17 | $16.04 | $13.03 | $12.19 | $13.73 | $14.42 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.12 | $0.45 | $0.27 | $0.29 | $0.31 | $0.27 |
Net realized and unrealized gain (loss) | (0.01)(g) | (3.75) | 2.98 | 0.81 | (1.22) | (0.30) |
Total from investment operations | $0.11 | $(3.30) | $3.25 | $1.10 | $(0.91) | $(0.03) |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.37) | $(0.30) | $(0.24) | $(0.26) | $(0.26) | $(0.19) |
From net realized gain | — | (0.27) | — | — | (0.37) | (0.47) |
Total distributions declared to shareholders | $(0.37) | $(0.57) | $(0.24) | $(0.26) | $(0.63) | $(0.66) |
Net asset value, end of period (x) | $11.91 | $12.17 | $16.04 | $13.03 | $12.19 | $13.73 |
Total return (%) (r)(s)(t)(x) | 0.94(n) | (21.18) | 25.17 | 8.91 | (6.40) | (0.42) |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.74(a) | 1.64 | 1.51 | 2.05 | 2.58 | 2.56 |
Expenses after expense reductions | 0.88(a) | 0.90 | 0.93 | 0.92 | 0.87 | 0.90 |
Net investment income (loss) | 2.01(a) | 3.23 | 1.79 | 2.36 | 2.44 | 1.81 |
Portfolio turnover | 36(n) | 58 | 60 | 63 | 64 | 58 |
Net assets at end of period (000 omitted) | $19,448 | $16,523 | $17,855 | $14,422 | $12,590 | $13,322 |
(a) | Annualized. |
(d) | Per share data is based on average shares outstanding. |
(g) | The per share amount varies from the net realized and unrealized gain/loss for the period because of the timing of sales of fund shares and the per share amount of realized and unrealized gains and losses at such time. |
(n) | Not annualized. |
(r) | Certain expenses have been reduced without which performance would have been lower. |
(s) | From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower. |
(t) | Total returns do not include any applicable sales charges. |
(w) | Per share amount was less than $0.01. |
(x) | The net asset values and total returns have been calculated on net assets which include adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes. |
Financial Instruments | Level 1 | Level 2 | Level 3 | Total |
Equity Securities: | ||||
China | $14,190,143 | $— | $— | $14,190,143 |
Taiwan | 1,490,441 | 5,312,632 | — | 6,803,073 |
South Korea | 5,626,876 | — | — | 5,626,876 |
India | 5,203,872 | — | — | 5,203,872 |
Brazil | 2,526,668 | — | — | 2,526,668 |
South Africa | 1,623,616 | — | — | 1,623,616 |
Indonesia | 1,370,940 | — | — | 1,370,940 |
Mexico | 1,071,852 | — | — | 1,071,852 |
Saudi Arabia | 918,121 | — | — | 918,121 |
Other Countries | 4,214,721 | 576,472 | 0 | 4,791,193 |
Mutual Funds | 482,980 | — | — | 482,980 |
Total | $38,720,230 | $5,889,104 | $0 | $44,609,334 |
Year ended 8/31/22 | |
Ordinary income (including any short-term capital gains) | $1,355,091 |
Long-term capital gains | 772,206 |
Total distributions | $2,127,297 |
As of 2/28/23 | |
Cost of investments | $42,908,268 |
Gross appreciation | 5,145,563 |
Gross depreciation | (3,444,497) |
Net unrealized appreciation (depreciation) | $1,701,066 |
As of 8/31/22 | |
Undistributed ordinary income | 1,119,276 |
Post-October capital loss deferral | (434,535) |
Other temporary differences | (9,276) |
Net unrealized appreciation (depreciation) | (850,063) |
Six months ended 2/28/23 | Year ended 8/31/22 | ||
Class A | $106,681 | $249,497 | |
Class B | 5,263 | 9,700 | |
Class C | 3,158 | 8,714 | |
Class I | 588,416 | 1,191,229 | |
Class R1 | 1,867 | 2,788 | |
Class R2 | 1,716 | 2,729 | |
Class R3 | 3,244 | 3,603 | |
Class R4 | 3,041 | 4,183 | |
Class R6 | 662,629 | 654,854 | |
Total | $1,376,015 | $2,127,297 |
Up to $1 billion | 0.75% |
In excess of $1 billion and up to $2.5 billion | 0.70% |
In excess of $2.5 billion | 0.675% |
Classes | ||||||||
A | B | C | I | R1 | R2 | R3 | R4 | R6 |
1.24% | 1.99% | 1.99% | 0.99% | 1.99% | 1.49% | 1.24% | 0.99% | 0.95% |
Distribution Fee Rate (d) | Service Fee Rate (d) | Total Distribution Plan (d) | Annual Effective Rate (e) | Distribution and Service Fee | |
Class A | — | 0.25% | 0.25% | 0.25% | $ 5,283 |
Class B | 0.75% | 0.25% | 1.00% | 1.00% | 1,318 |
Class C | 0.75% | 0.25% | 1.00% | 1.00% | 942 |
Class R1 | 0.75% | 0.25% | 1.00% | 0.25% | 84 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 172 |
Class R3 | — | 0.25% | 0.25% | 0.25% | 146 |
Total Distribution and Service Fees | $7,945 |
(d) | In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each class’s average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting period. Any rate changes, if applicable, are detailed below. |
(e) | The annual effective rates represent actual fees incurred under the distribution plan for the six months ended February 28, 2023 based on each class's average daily net assets. MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. There were no service fee rebates for the six months ended February 28, 2023. For the six months ended February 28, 2023, the 0.75% distribution fee was not imposed for Class R1 shares due to the sales charge limitations contained in Financial Industry Regulatory Authority (“FINRA”) Rule 2341. |
Amount | |
Class A | $343 |
Class B | — |
Class C | 1 |
Six months ended 2/28/23 | Year ended 8/31/22 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | |||||
Class A | 188,550 | $2,129,700 | 205,671 | $2,844,904 | |
Class B | — | — | 468 | 6,990 | |
Class C | 150 | 1,742 | 688 | 9,471 | |
Class I | 490,475 | 5,578,582 | 162,972 | 2,344,661 | |
Class R3 | 1,297 | 15,174 | 3,165 | 42,366 | |
Class R4 | 240 | 2,789 | 1,000 | 13,807 | |
Class R6 | 607,296 | 6,800,321 | 372,261 | 5,030,980 | |
1,288,008 | $14,528,308 | 746,225 | $10,293,179 | ||
Shares issued to shareholders in reinvestment of distributions | |||||
Class A | 9,110 | $106,681 | 16,955 | $247,380 | |
Class B | 453 | 5,263 | 669 | 9,700 | |
Class C | 271 | 3,158 | 602 | 8,714 | |
Class I | 48,565 | 568,699 | 79,467 | 1,160,214 | |
Class R1 | 161 | 1,867 | 192 | 2,788 | |
Class R2 | 146 | 1,716 | 187 | 2,729 | |
Class R3 | 277 | 3,244 | 247 | 3,603 | |
Class R4 | 259 | 3,041 | 286 | 4,183 | |
Class R6 | 56,442 | 662,629 | 44,730 | 654,854 | |
115,684 | $1,356,298 | 143,335 | $2,094,165 | ||
Shares reacquired | |||||
Class A | (224,253) | $(2,484,956) | (319,561) | $(4,414,899) | |
Class B | (1,474) | (18,012) | (3,667) | (53,204) | |
Class C | (3,571) | (39,758) | (8,637) | (122,685) | |
Class I | (337,505) | (3,893,043) | (852,957) | (11,984,347) | |
Class R3 | (2,021) | (24,630) | (324) | (4,658) | |
Class R4 | (414) | (4,719) | (70) | (1,004) | |
Class R6 | (388,647) | (4,562,290) | (172,825) | (2,448,117) | |
(957,885) | $(11,027,408) | (1,358,041) | $(19,028,914) |
Six months ended 2/28/23 | Year ended 8/31/22 | ||||
Shares | Amount | Shares | Amount | ||
Net change | |||||
Class A | (26,593) | $(248,575) | (96,935) | $(1,322,615) | |
Class B | (1,021) | (12,749) | (2,530) | (36,514) | |
Class C | (3,150) | (34,858) | (7,347) | (104,500) | |
Class I | 201,535 | 2,254,238 | (610,518) | (8,479,472) | |
Class R1 | 161 | 1,867 | 192 | 2,788 | |
Class R2 | 146 | 1,716 | 187 | 2,729 | |
Class R3 | (447) | (6,212) | 3,088 | 41,311 | |
Class R4 | 85 | 1,111 | 1,216 | 16,986 | |
Class R6 | 275,091 | 2,900,660 | 244,166 | 3,237,717 | |
445,807 | $4,857,198 | (468,481) | $(6,641,570) |
Affiliated Issuers | Beginning Value | Purchases | Sales Proceeds | Realized Gain (Loss) | Change in Unrealized Appreciation or Depreciation | Ending Value |
MFS Institutional Money Market Portfolio | $650,889 | $12,987,465 | $13,155,640 | $266 | $— | $482,980 |
Affiliated Issuers | Dividend Income | Capital Gain Distributions |
MFS Institutional Money Market Portfolio | $7,621 | $— |
International Equity Fund
International Equity Fund
1 | |
2 | |
4 | |
6 | |
14 | |
16 | |
17 | |
18 | |
27 | |
39 | |
39 | |
39 | |
39 | |
39 |
back cover |
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 2.3% |
Novartis AG | 2.0% |
Roche Holding AG | 1.9% |
BNP Paribas | 1.9% |
UBS Group AG | 1.8% |
Sanofi | 1.7% |
LVMH Moet Hennessy Louis Vuitton SE | 1.6% |
ASML Holding N.V. | 1.6% |
Compagnie Financiere Richemont S.A. | 1.6% |
NatWest Group PLC | 1.5% |
Financials | 20.7% |
Industrials | 12.4% |
Consumer Discretionary | 12.3% |
Information Technology | 11.9% |
Health Care | 9.2% |
Consumer Staples | 8.4% |
Materials | 7.4% |
Communication Services | 6.4% |
Energy | 5.9% |
Utilities | 2.8% |
Real Estate | 1.5% |
Japan | 12.4% |
United Kingdom | 10.4% |
France | 9.6% |
China | 9.0% |
Canada | 8.5% |
Switzerland | 7.9% |
Australia | 4.8% |
Germany | 4.5% |
South Korea | 4.4% |
Other Countries | 28.5% |
Euro | 23.6% |
Japanese Yen | 12.4% |
British Pound Sterling | 10.4% |
Hong Kong Dollar | 9.5% |
Swiss Franc | 7.9% |
Canadian Dollar | 7.8% |
Australian Dollar | 4.8% |
South Korean Won | 4.4% |
Taiwan Dollar | 3.8% |
Other Currencies | 15.4% |
(g) | The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. (“S&P Global Market Intelligence”). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS. |
(x) | Represents the portfolio’s exposure to issuer countries as a percentage of a portfolio’s net assets. For purposes of this presentation, United States (included in Other Countries) includes Cash & Cash Equivalents. |
(y) | Represents the portfolio’s exposure to a particular currency as a percentage of a portfolio's net assets. For purposes of this presentation, United States Dollar (included in Other Currencies) includes Cash & Cash Equivalents. |
September 1, 2022 through February 28, 2023
Share Class | Annualized Expense Ratio | Beginning Account Value 9/01/22 | Ending Account Value 2/28/23 | Expenses Paid During Period (p) 9/01/22-2/28/23 | |
A | Actual | 0.89% | $1,000.00 | $1,097.01 | $4.63 |
Hypothetical (h) | 0.89% | $1,000.00 | $1,020.38 | $4.46 | |
B | Actual | 1.64% | $1,000.00 | $1,093.11 | $8.51 |
Hypothetical (h) | 1.64% | $1,000.00 | $1,016.66 | $8.20 | |
C | Actual | 1.64% | $1,000.00 | $1,092.14 | $8.51 |
Hypothetical (h) | 1.64% | $1,000.00 | $1,016.66 | $8.20 | |
I | Actual | 0.64% | $1,000.00 | $1,098.64 | $3.33 |
Hypothetical (h) | 0.64% | $1,000.00 | $1,021.62 | $3.21 | |
R1 | Actual | 1.64% | $1,000.00 | $1,092.48 | $8.51 |
Hypothetical (h) | 1.64% | $1,000.00 | $1,016.66 | $8.20 | |
R2 | Actual | 1.14% | $1,000.00 | $1,096.24 | $5.93 |
Hypothetical (h) | 1.14% | $1,000.00 | $1,019.14 | $5.71 | |
R3 | Actual | 0.89% | $1,000.00 | $1,097.22 | $4.63 |
Hypothetical (h) | 0.89% | $1,000.00 | $1,020.38 | $4.46 | |
R4 | Actual | 0.64% | $1,000.00 | $1,097.81 | $3.33 |
Hypothetical (h) | 0.64% | $1,000.00 | $1,021.62 | $3.21 | |
R6 | Actual | 0.56% | $1,000.00 | $1,098.90 | $2.91 |
Hypothetical (h) | 0.56% | $1,000.00 | $1,022.02 | $2.81 |
(h) | 5% class return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – 97.8% | ||||
Aerospace & Defense – 0.7% | ||||
Thales S.A. | 27,148 | $3,796,048 | ||
Alcoholic Beverages – 1.2% | ||||
Jiangsu Yanghe Brewery JSC Ltd., “A” | 47,700 | $1,168,614 | ||
Kirin Holdings Co. Ltd. | 364,400 | 5,457,101 | ||
$6,625,715 | ||||
Apparel Manufacturers – 3.7% | ||||
Burberry Group PLC | 84,886 | $2,517,912 | ||
Compagnie Financiere Richemont S.A. | 59,036 | 8,885,016 | ||
LVMH Moet Hennessy Louis Vuitton SE | 10,908 | 9,102,999 | ||
$20,505,927 | ||||
Automotive – 3.4% | ||||
BYD Co. Ltd. | 119,500 | $3,215,329 | ||
Kia Corp. | 31,520 | 1,793,657 | ||
Magna International, Inc. | 77,624 | 4,325,986 | ||
Mahindra & Mahindra Ltd. | 244,071 | 3,748,420 | ||
Maruti Suzuki India Ltd. | 33,577 | 3,502,946 | ||
Stellantis N.V. | 131,062 | 2,294,785 | ||
$18,881,123 | ||||
Biotechnology – 0.7% | ||||
CSL Ltd. | 19,914 | $3,970,458 | ||
Brokerage & Asset Managers – 0.4% | ||||
iA Financial Corp., Inc. | 37,546 | $2,520,494 | ||
Business Services – 1.2% | ||||
Experian PLC | 71,520 | $2,413,080 | ||
Serco Group PLC | 1,362,834 | 2,557,284 | ||
TIS, Inc. | 80,900 | 2,008,314 | ||
$6,978,678 | ||||
Chemicals – 1.2% | ||||
Nutrien Ltd. | 70,776 | $5,514,770 | ||
OCI N.V. | 42,158 | 1,400,142 | ||
$6,914,912 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Computer Software – 2.6% | ||||
Check Point Software Technologies Ltd. (a) | 39,547 | $4,892,755 | ||
Dassault Systemes SE | 100,155 | 3,875,062 | ||
Lumine Group, Inc. (a) | 8,542 | 87,443 | ||
NetEase, Inc., ADR | 50,171 | 3,895,277 | ||
Wisetech Global Ltd. | 49,475 | 2,097,379 | ||
$14,847,916 | ||||
Computer Software - Systems – 4.6% | ||||
Amadeus IT Group S.A. (a) | 28,342 | $1,780,653 | ||
Constellation Software, Inc. | 2,895 | 4,977,745 | ||
Fujitsu Ltd. | 35,500 | 4,568,029 | ||
Hitachi Ltd. | 72,700 | 3,678,917 | ||
Hon Hai Precision Industry Co. Ltd. | 1,370,000 | 4,541,263 | ||
Samsung Electronics Co. Ltd. | 142,372 | 6,520,116 | ||
$26,066,723 | ||||
Construction – 0.5% | ||||
Anhui Conch Cement Co. Ltd. | 407,000 | $1,493,311 | ||
Ibstock PLC | 556,045 | 1,136,357 | ||
$2,629,668 | ||||
Consumer Products – 1.1% | ||||
AmorePacific Corp. | 24,731 | $2,586,639 | ||
Kao Corp. | 28,600 | 1,069,179 | ||
Reckitt Benckiser Group PLC | 34,471 | 2,389,123 | ||
$6,044,941 | ||||
Consumer Services – 1.0% | ||||
Carsales.com Ltd. | 120,086 | $1,833,485 | ||
Persol Holdings Co. Ltd. | 181,000 | 3,625,185 | ||
$5,458,670 | ||||
Containers – 0.4% | ||||
Brambles Ltd. | 136,799 | $1,184,710 | ||
Viscofan S.A. | 17,889 | 1,146,624 | ||
$2,331,334 | ||||
Electrical Equipment – 1.5% | ||||
Schneider Electric SE | 36,969 | $5,948,211 | ||
Voltronic Power Technology Corp. | 45,000 | 2,370,403 | ||
$8,318,614 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Electronics – 4.9% | ||||
ASML Holding N.V. | 14,481 | $8,944,864 | ||
Novatek Microelectronics Corp. | 149,000 | 1,978,136 | ||
NXP Semiconductors N.V. | 10,417 | 1,859,226 | ||
ROHM Co. Ltd. | 26,800 | 2,062,825 | ||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 145,500 | 12,668,685 | ||
$27,513,736 | ||||
Energy - Independent – 0.2% | ||||
Canadian Natural Resources Ltd. | 19,069 | $1,077,619 | ||
Energy - Integrated – 5.2% | ||||
Cenovus Energy, Inc. | 181,489 | $3,346,474 | ||
China Petroleum & Chemical Corp. | 9,008,000 | 4,601,891 | ||
Eni S.p.A. | 534,761 | 7,560,030 | ||
Harbour Energy PLC | 315,746 | 1,104,064 | ||
LUKOIL PJSC (a)(u) | 35,153 | 0 | ||
Petroleo Brasileiro S.A., ADR | 198,741 | 2,204,038 | ||
Suncor Energy, Inc. | 130,684 | 4,392,208 | ||
TotalEnergies SE | 92,544 | 5,733,051 | ||
$28,941,756 | ||||
Energy - Renewables – 0.2% | ||||
Daqo New Energy Corp., ADR (a) | 22,913 | $1,012,296 | ||
Engineering - Construction – 0.4% | ||||
Doosan Bobcat, Inc. | 72,688 | $2,081,901 | ||
Entertainment – 0.2% | ||||
Lottery Corp. Ltd. (a) | 348,985 | $1,218,778 | ||
Food & Beverages – 1.0% | ||||
AVI Ltd. | 370,903 | $1,537,334 | ||
Gruma S.A.B. de C.V. | 148,474 | 2,176,493 | ||
Nestle S.A. | 18,395 | 2,071,818 | ||
$5,785,645 | ||||
Food & Drug Stores – 2.3% | ||||
BIM Birlesik Magazalar A.S. | 345,099 | $2,490,707 | ||
Loblaw Cos. Ltd. | 48,092 | 4,109,936 | ||
Tesco PLC | 1,984,905 | 6,088,233 | ||
$12,688,876 | ||||
Furniture & Appliances – 0.6% | ||||
Howden Joinery Group PLC | 412,912 | $3,560,139 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Gaming & Lodging – 1.3% | ||||
Aristocrat Leisure Ltd. | 179,387 | $4,410,725 | ||
Whitbread PLC | 70,656 | 2,625,297 | ||
$7,036,022 | ||||
General Merchandise – 0.4% | ||||
Dollarama, Inc. | 38,558 | $2,227,293 | ||
Insurance – 5.3% | ||||
China Pacific Insurance Co. Ltd. | 2,301,000 | $6,097,383 | ||
Fairfax Financial Holdings Ltd. | 6,756 | 4,723,358 | ||
Manulife Financial Corp. (l) | 249,531 | 4,933,929 | ||
Ping An Insurance Co. of China Ltd., “H” | 870,500 | 5,910,981 | ||
Samsung Fire & Marine Insurance Co. Ltd. | 27,255 | 4,418,060 | ||
Tokio Marine Holding, Inc. | 97,500 | 2,069,874 | ||
Zurich Insurance Group AG | 3,417 | 1,619,524 | ||
$29,773,109 | ||||
Internet – 1.0% | ||||
Tencent Holdings Ltd. | 128,100 | $5,607,455 | ||
Leisure & Toys – 1.6% | ||||
NCsoft Corp. | 7,084 | $2,326,089 | ||
Nintendo Co. Ltd. | 68,900 | 2,592,954 | ||
Sankyo Co. Ltd. | 105,300 | 4,292,277 | ||
$9,211,320 | ||||
Machinery & Tools – 4.0% | ||||
Aalberts Industries N.V. | 69,679 | $3,393,123 | ||
GEA Group AG | 174,082 | 7,663,343 | ||
Haitian International Holdings Ltd. | 467,000 | 1,219,647 | ||
OSG Corp. | 202,600 | 2,885,251 | ||
Toromont Industries Ltd. | 51,672 | 4,261,757 | ||
Volvo Group | 137,625 | 2,758,285 | ||
$22,181,406 | ||||
Major Banks – 11.1% | ||||
ABN AMRO Group N.V., GDR | 184,423 | $3,258,546 | ||
Bank of China Ltd. | 3,925,000 | 1,440,110 | ||
Bank of Ireland Group PLC | 314,512 | 3,469,636 | ||
BNP Paribas | 148,700 | 10,404,068 | ||
BOC Hong Kong Holdings Ltd. | 1,443,000 | 4,880,838 | ||
DBS Group Holdings Ltd. | 320,700 | 8,126,604 | ||
Erste Group Bank AG | 79,359 | 3,120,814 | ||
Industrial & Commercial Bank of China, “H” | 2,152,000 | 1,074,711 | ||
National Australia Bank Ltd. | 278,147 | 5,614,953 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Major Banks – continued | ||||
NatWest Group PLC | 2,386,277 | $8,389,983 | ||
Nedbank Group Ltd. | 196,849 | 2,471,519 | ||
UBS Group AG | 467,530 | 10,151,286 | ||
$62,403,068 | ||||
Medical & Health Technology & Services – 0.5% | ||||
Sonic Healthcare Ltd. | 125,435 | $2,718,692 | ||
Medical Equipment – 0.5% | ||||
Agilent Technologies, Inc. | 13,106 | $1,860,659 | ||
Fisher & Paykel Healthcare Corp. Ltd. | 70,800 | 1,137,291 | ||
$2,997,950 | ||||
Metals & Mining – 3.4% | ||||
China Shenhua Energy Co. Ltd. | 944,000 | $2,838,230 | ||
Glencore PLC | 1,301,683 | 7,755,839 | ||
Pilbara Minerals Ltd. | 345,314 | 968,949 | ||
Rio Tinto PLC | 105,923 | 7,277,628 | ||
$18,840,646 | ||||
Natural Gas - Pipeline – 0.2% | ||||
APA Group | 162,112 | $1,170,484 | ||
Network & Telecom – 0.5% | ||||
LM Ericsson Telephone Co., “B” | 552,232 | $3,065,025 | ||
Other Banks & Diversified Financials – 3.8% | ||||
AEON Financial Service Co. Ltd. (l) | 304,600 | $2,892,643 | ||
China Construction Bank Corp. | 7,647,000 | 4,676,230 | ||
Credicorp Ltd. | 15,680 | 1,997,946 | ||
Emirates NBD PJSC | 331,007 | 1,225,585 | ||
Hana Financial Group, Inc. | 75,979 | 2,606,799 | ||
KB Financial Group, Inc. | 52,636 | 2,040,602 | ||
Komercní banka A.S. | 90,665 | 3,058,877 | ||
Sberbank of Russia PJSC (a)(u) | 715,224 | 0 | ||
Tisco Financial Group PCL | 970,000 | 2,827,008 | ||
$21,325,690 | ||||
Pharmaceuticals – 7.5% | ||||
Bayer AG | 119,577 | $7,119,365 | ||
Chugai Pharmaceutical Co. Ltd. | 67,300 | 1,677,619 | ||
Kyowa Kirin Co. Ltd. | 97,200 | 2,080,996 | ||
Novartis AG | 132,428 | 11,147,095 | ||
Roche Holding AG | 36,821 | 10,625,840 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Pharmaceuticals – continued | ||||
Sanofi | 100,778 | $9,475,039 | ||
$42,125,954 | ||||
Printing & Publishing – 1.2% | ||||
Transcontinental, Inc., “A” | 123,042 | $1,406,710 | ||
Wolters Kluwer N.V. | 44,877 | 5,195,196 | ||
$6,601,906 | ||||
Railroad & Shipping – 0.9% | ||||
A.P. Moller-Maersk A/S | 750 | $1,748,958 | ||
Sankyu, Inc. | 83,400 | 3,068,811 | ||
$4,817,769 | ||||
Real Estate – 1.5% | ||||
CapitaLand India Trusts IEU, REIT | 1,559,000 | $1,294,879 | ||
Goodman Group, REIT | 124,438 | 1,662,964 | ||
LEG Immobilien SE | 52,344 | 3,807,952 | ||
NEPI Rockcastle N.V. | 233,023 | 1,397,884 | ||
$8,163,679 | ||||
Restaurants – 1.0% | ||||
Sodexo | 62,137 | $5,766,473 | ||
Specialty Chemicals – 1.8% | ||||
Linde PLC | 15,344 | $5,287,520 | ||
Nitto Denko Corp. | 61,100 | 3,679,776 | ||
Sumitomo Corp. | 73,600 | 1,255,722 | ||
$10,223,018 | ||||
Specialty Stores – 2.2% | ||||
Alibaba Group Holding Ltd. (a) | 327,600 | $3,610,136 | ||
JD.com, Inc., “A” | 107,645 | 2,382,085 | ||
Meituan, “B” (a) | 12,740 | 220,897 | ||
Walmart de Mexico S.A.B. de C.V. | 924,925 | 3,640,251 | ||
ZOZO, Inc. | 122,300 | 2,717,179 | ||
$12,570,548 | ||||
Telecommunications - Wireless – 3.0% | ||||
KDDI Corp. | 241,000 | $7,055,385 | ||
PT Telekom Indonesia | 17,586,300 | 4,474,416 | ||
SoftBank Group Corp. | 69,300 | 2,808,036 | ||
Vodafone Group PLC | 2,044,475 | 2,453,786 | ||
$16,791,623 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Telephone Services – 0.5% | ||||
Hellenic Telecommunications Organization S.A. | 182,444 | $2,801,938 | ||
Tobacco – 2.0% | ||||
British American Tobacco PLC | 175,364 | $6,630,790 | ||
Imperial Brands PLC | 64,539 | 1,556,496 | ||
Japan Tobacco, Inc. | 149,600 | 3,042,982 | ||
$11,230,268 | ||||
Trucking – 0.9% | ||||
Yamato Holdings Co. Ltd. | 291,000 | $4,917,858 | ||
Utilities - Electric Power – 2.5% | ||||
E.ON SE | 588,068 | $6,434,583 | ||
Energias do Brasil S.A. | 342,802 | 1,285,315 | ||
Energisa S.A., IEU | 401,200 | 2,964,870 | ||
Iberdrola S.A. | 312,779 | 3,594,427 | ||
$14,279,195 | ||||
Total Common Stocks (Identified Cost, $508,207,020) | $548,620,356 | |||
Preferred Stocks – 1.1% | ||||
Metals & Mining – 0.8% | ||||
Gerdau S.A. | 815,700 | $4,460,647 | ||
Specialty Chemicals – 0.3% | ||||
Sociedad Química y Minera de Chile S.A. | 15,668 | $1,400,649 | ||
Total Preferred Stocks (Identified Cost, $5,496,390) | $5,861,296 | |||
Investment Companies (h) – 1.1% | ||||
Money Market Funds – 1.1% | ||||
MFS Institutional Money Market Portfolio, 4.55% (v) (Identified Cost, $6,364,146) | 6,364,037 | $6,364,037 | ||
Collateral for Securities Loaned – 0.5% | ||||
State Street Navigator Securities Lending Government Money Market Portfolio, 4.59% (j) (Identified Cost, $2,542,816) | 2,542,816 | $2,542,816 | ||
Other Assets, Less Liabilities – (0.5)% | (2,563,954) | |||
Net Assets – 100.0% | $560,824,551 |
(a) | Non-income producing security. | |||
(h) | An affiliated issuer, which may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated issuers and in unaffiliated issuers were $6,364,037 and $557,024,468, respectively. |
(j) | The rate quoted is the annualized seven-day yield of the fund at period end. | |||
(l) | A portion of this security is on loan. See Note 2 for additional information. | |||
(u) | The security was valued using significant unobservable inputs and is considered level 3 under the fair value hierarchy. For further information about the fund’s level 3 holdings, please see Note 2 in the Notes to Financial Statements. | |||
(v) | Affiliated issuer that is available only to investment companies managed by MFS. The rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end. |
The following abbreviations are used in this report and are defined: | |
ADR | American Depositary Receipt |
GDR | Global Depositary Receipt |
IEU | International Equity Unit |
PCL | Public Company Limited |
REIT | Real Estate Investment Trust |
Assets | |
Investments in unaffiliated issuers, at value, including $2,616,764 of securities on loan (identified cost, $516,246,226) | $557,024,468 |
Investments in affiliated issuers, at value (identified cost, $6,364,146) | 6,364,037 |
Receivables for | |
Fund shares sold | 2,767,827 |
Interest and dividends | 2,542,576 |
Receivable from investment adviser | 11,360 |
Other assets | 4,221 |
Total assets | $568,714,489 |
Liabilities | |
Payable to custodian | $113,080 |
Payables for | |
Investments purchased | 4,830,479 |
Fund shares reacquired | 90,348 |
Collateral for securities loaned, at value (c) | 2,542,816 |
Payable to affiliates | |
Administrative services fee | 514 |
Shareholder servicing costs | 63,303 |
Distribution and service fees | 533 |
Payable for independent Trustees' compensation | 1,331 |
Deferred country tax expense payable | 75,935 |
Accrued expenses and other liabilities | 171,599 |
Total liabilities | $7,889,938 |
Net assets | $560,824,551 |
Net assets consist of | |
Paid-in capital | $536,495,184 |
Total distributable earnings (loss) | 24,329,367 |
Net assets | $560,824,551 |
Shares of beneficial interest outstanding | 49,217,504 |
(c) | Non-cash collateral is not included. |
Net assets | Shares outstanding | Net asset value per share (a) | |
Class A | $27,645,248 | 2,397,936 | $11.53 |
Class B | 150,280 | 13,345 | 11.26 |
Class C | 386,633 | 34,448 | 11.22 |
Class I | 237,185,250 | 20,844,233 | 11.38 |
Class R1 | 794,005 | 71,341 | 11.13 |
Class R2 | 2,385,734 | 211,211 | 11.30 |
Class R3 | 1,065,265 | 93,440 | 11.40 |
Class R4 | 369,254 | 32,421 | 11.39 |
Class R6 | 290,842,882 | 25,519,129 | 11.40 |
(a) | Maximum offering price per share was equal to the net asset value per share for all share classes, except for Class A, for which the maximum offering price per share was $12.23 [100 / 94.25 x $11.53]. On sales of $50,000 or more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions of Class A, Class B, and Class C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and R6. |
Net investment income (loss) | |
Income | |
Dividends | $6,844,262 |
Dividends from affiliated issuers | 75,459 |
Other | 26,600 |
Income on securities loaned | 3,298 |
Foreign taxes withheld | (631,022) |
Total investment income | $6,318,597 |
Expenses | |
Management fee | $1,313,159 |
Distribution and service fees | 38,462 |
Shareholder servicing costs | 104,198 |
Administrative services fee | 43,875 |
Independent Trustees' compensation | 4,804 |
Custodian fee | 81,537 |
Shareholder communications | 6,779 |
Audit and tax fees | 52,839 |
Legal fees | 1,023 |
Miscellaneous | 91,929 |
Total expenses | $1,738,605 |
Reduction of expenses by investment adviser | (141,716) |
Net expenses | $1,596,889 |
Net investment income (loss) | $4,721,708 |
Realized and unrealized gain (loss) | |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers (net of $3,140 country tax) | $(13,182,947) |
Affiliated issuers | 305 |
Foreign currency | (22,222) |
Net realized gain (loss) | $(13,204,864) |
Change in unrealized appreciation or depreciation | |
Unaffiliated issuers (net of $40,534 decrease in deferred country tax) | $61,327,879 |
Affiliated issuers | (384) |
Translation of assets and liabilities in foreign currencies | 40,727 |
Net unrealized gain (loss) | $61,368,222 |
Net realized and unrealized gain (loss) | $48,163,358 |
Change in net assets from operations | $52,885,066 |
Six months ended | Year ended | |
2/28/23 (unaudited) | 8/31/22 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $4,721,708 | $13,597,485 |
Net realized gain (loss) | (13,204,864) | 7,154,585 |
Net unrealized gain (loss) | 61,368,222 | (104,963,630) |
Change in net assets from operations | $52,885,066 | $(84,211,560) |
Total distributions to shareholders | $(14,738,424) | $(29,920,932) |
Change in net assets from fund share transactions | $33,125,877 | $175,854,988 |
Total change in net assets | $71,272,519 | $61,722,496 |
Net assets | ||
At beginning of period | 489,552,032 | 427,829,536 |
At end of period | $560,824,551 | $489,552,032 |
Class A | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $10.77 | $13.71 | $10.79 | $10.37 | $11.71 | $11.85 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.08 | $0.31 | $0.31 | $0.25 | $0.30 | $0.30 |
Net realized and unrealized gain (loss) | 0.96 | (2.57) | 2.87 | 0.47 | (1.01) | (0.12) |
Total from investment operations | $1.04 | $(2.26) | $3.18 | $0.72 | $(0.71) | $0.18 |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.19) | $(0.11) | $(0.26) | $(0.30) | $(0.26) | $(0.18) |
From net realized gain | (0.09) | (0.57) | — | — | (0.37) | (0.14) |
Total distributions declared to shareholders | $(0.28) | $(0.68) | $(0.26) | $(0.30) | $(0.63) | $(0.32) |
Net asset value, end of period (x) | $11.53 | $10.77 | $13.71 | $10.79 | $10.37 | $11.71 |
Total return (%) (r)(s)(t)(x) | 9.70(n) | (17.24) | 29.82 | 6.85 | (5.67) | 1.47 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 0.95(a) | 0.95 | 0.98 | 0.99 | 1.00 | 0.99 |
Expenses after expense reductions | 0.89(a) | 0.89 | 0.89 | 0.89 | 0.89 | 0.89 |
Net investment income (loss) | 1.46(a)(l) | 2.44 | 2.45 | 2.39 | 2.80 | 2.49 |
Portfolio turnover | 29(n) | 52 | 68 | 72 | 58 | 69 |
Net assets at end of period (000 omitted) | $27,645 | $18,999 | $110,106 | $93,455 | $84,917 | $88,168 |
Class B | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $10.49 | $13.61 | $10.72 | $10.32 | $11.64 | $11.75 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.04 | $0.23 | $0.22 | $0.17 | $0.24 | $0.20 |
Net realized and unrealized gain (loss) | 0.93 | (2.55) | 2.85 | 0.47 | (1.02) | (0.11) |
Total from investment operations | $0.97 | $(2.32) | $3.07 | $0.64 | $(0.78) | $0.09 |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.11) | $(0.23) | $(0.18) | $(0.24) | $(0.17) | $(0.06) |
From net realized gain | (0.09) | (0.57) | — | — | (0.37) | (0.14) |
Total distributions declared to shareholders | $(0.20) | $(0.80) | $(0.18) | $(0.24) | $(0.54) | $(0.20) |
Net asset value, end of period (x) | $11.26 | $10.49 | $13.61 | $10.72 | $10.32 | $11.64 |
Total return (%) (r)(s)(t)(x) | 9.31(n) | (17.99) | 28.84 | 6.06 | (6.41) | 0.73 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.69(a) | 1.70 | 1.72 | 1.74 | 1.75 | 1.74 |
Expenses after expense reductions | 1.64(a) | 1.64 | 1.64 | 1.64 | 1.64 | 1.64 |
Net investment income (loss) | 0.79(a)(l) | 1.85 | 1.75 | 1.61 | 2.28 | 1.63 |
Portfolio turnover | 29(n) | 52 | 68 | 72 | 58 | 69 |
Net assets at end of period (000 omitted) | $150 | $161 | $210 | $148 | $152 | $97 |
Class C | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $10.48 | $13.59 | $10.70 | $10.28 | $11.59 | $11.75 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.04 | $0.23 | $0.23 | $0.17 | $0.22 | $0.21 |
Net realized and unrealized gain (loss) | 0.92 | (2.53) | 2.83 | 0.47 | (1.00) | (0.11) |
Total from investment operations | $0.96 | $(2.30) | $3.06 | $0.64 | $(0.78) | $0.10 |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.13) | $(0.24) | $(0.17) | $(0.22) | $(0.16) | $(0.12) |
From net realized gain | (0.09) | (0.57) | — | — | (0.37) | (0.14) |
Total distributions declared to shareholders | $(0.22) | $(0.81) | $(0.17) | $(0.22) | $(0.53) | $(0.26) |
Net asset value, end of period (x) | $11.22 | $10.48 | $13.59 | $10.70 | $10.28 | $11.59 |
Total return (%) (r)(s)(t)(x) | 9.21(n) | (17.91) | 28.78 | 6.08 | (6.42) | 0.74 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.69(a) | 1.70 | 1.72 | 1.74 | 1.75 | 1.75 |
Expenses after expense reductions | 1.64(a) | 1.64 | 1.64 | 1.64 | 1.64 | 1.64 |
Net investment income (loss) | 0.76(a)(l) | 1.90 | 1.82 | 1.64 | 2.04 | 1.73 |
Portfolio turnover | 29(n) | 52 | 68 | 72 | 58 | 69 |
Net assets at end of period (000 omitted) | $387 | $330 | $382 | $220 | $240 | $284 |
Class I | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $10.63 | $13.78 | $10.84 | $10.42 | $11.77 | $11.88 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.09 | $0.37 | $0.38 | $0.31 | $0.31 | $0.31 |
Net realized and unrealized gain (loss) | 0.95 | (2.59) | 2.84 | 0.44 | (1.00) | (0.10) |
Total from investment operations | $1.04 | $(2.22) | $3.22 | $0.75 | $(0.69) | $0.21 |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.20) | $(0.36) | $(0.28) | $(0.33) | $(0.29) | $(0.18) |
From net realized gain | (0.09) | (0.57) | — | — | (0.37) | (0.14) |
Total distributions declared to shareholders | $(0.29) | $(0.93) | $(0.28) | $(0.33) | $(0.66) | $(0.32) |
Net asset value, end of period (x) | $11.38 | $10.63 | $13.78 | $10.84 | $10.42 | $11.77 |
Total return (%) (r)(s)(t)(x) | 9.86(n) | (17.13) | 30.14 | 7.09 | (5.45) | 1.74 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 0.70(a) | 0.70 | 0.72 | 0.75 | 0.75 | 0.74 |
Expenses after expense reductions | 0.64(a) | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 |
Net investment income (loss) | 1.73(a)(l) | 3.09 | 2.91 | 3.06 | 2.89 | 2.50 |
Portfolio turnover | 29(n) | 52 | 68 | 72 | 58 | 69 |
Net assets at end of period (000 omitted) | $237,185 | $176,391 | $22,325 | $5,183 | $1,652 | $1,760 |
Class R1 | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $10.44 | $13.51 | $10.65 | $10.24 | $11.63 | $11.75 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.04 | $0.23 | $0.22 | $0.17 | $0.22 | $0.19 |
Net realized and unrealized gain (loss) | 0.92 | (2.53) | 2.82 | 0.47 | (1.01) | (0.10) |
Total from investment operations | $0.96 | $(2.30) | $3.04 | $0.64 | $(0.79) | $0.09 |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.18) | $(0.20) | $(0.18) | $(0.23) | $(0.23) | $(0.07) |
From net realized gain | (0.09) | (0.57) | — | — | (0.37) | (0.14) |
Total distributions declared to shareholders | $(0.27) | $(0.77) | $(0.18) | $(0.23) | $(0.60) | $(0.21) |
Net asset value, end of period (x) | $11.13 | $10.44 | $13.51 | $10.65 | $10.24 | $11.63 |
Total return (%) (r)(s)(t)(x) | 9.25(n) | (17.95) | 28.83 | 6.13 | (6.44) | 0.72 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.70(a) | 1.70 | 1.72 | 1.74 | 1.75 | 1.73 |
Expenses after expense reductions | 1.64(a) | 1.64 | 1.64 | 1.64 | 1.64 | 1.64 |
Net investment income (loss) | 0.67(a)(l) | 1.95 | 1.74 | 1.63 | 2.09 | 1.54 |
Portfolio turnover | 29(n) | 52 | 68 | 72 | 58 | 69 |
Net assets at end of period (000 omitted) | $794 | $314 | $233 | $166 | $146 | $60 |
Class R2 | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $10.55 | $13.72 | $10.80 | $10.38 | $11.73 | $11.84 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.06 | $0.31 | $0.29 | $0.22 | $0.27 | $0.29 |
Net realized and unrealized gain (loss) | 0.95 | (2.57) | 2.86 | 0.47 | (1.01) | (0.13) |
Total from investment operations | $1.01 | $(2.26) | $3.15 | $0.69 | $(0.74) | $0.16 |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.17) | $(0.34) | $(0.23) | $(0.27) | $(0.24) | $(0.13) |
From net realized gain | (0.09) | (0.57) | — | — | (0.37) | (0.14) |
Total distributions declared to shareholders | $(0.26) | $(0.91) | $(0.23) | $(0.27) | $(0.61) | $(0.27) |
Net asset value, end of period (x) | $11.30 | $10.55 | $13.72 | $10.80 | $10.38 | $11.73 |
Total return (%) (r)(s)(t)(x) | 9.62(n) | (17.55) | 29.50 | 6.56 | (5.95) | 1.27 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.20(a) | 1.20 | 1.22 | 1.24 | 1.25 | 1.25 |
Expenses after expense reductions | 1.14(a) | 1.14 | 1.14 | 1.14 | 1.14 | 1.14 |
Net investment income (loss) | 1.16(a)(l) | 2.61 | 2.30 | 2.12 | 2.54 | 2.34 |
Portfolio turnover | 29(n) | 52 | 68 | 72 | 58 | 69 |
Net assets at end of period (000 omitted) | $2,386 | $1,261 | $404 | $156 | $164 | $167 |
Class R3 | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $10.65 | $13.82 | $10.88 | $10.45 | $11.80 | $11.91 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.08 | $0.32 | $0.29 | $0.25 | $0.30 | $0.28 |
Net realized and unrealized gain (loss) | 0.95 | (2.58) | 2.91 | 0.49 | (1.02) | (0.09) |
Total from investment operations | $1.03 | $(2.26) | $3.20 | $0.74 | $(0.72) | $0.19 |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.19) | $(0.34) | $(0.26) | $(0.31) | $(0.26) | $(0.16) |
From net realized gain | (0.09) | (0.57) | — | — | (0.37) | (0.14) |
Total distributions declared to shareholders | $(0.28) | $(0.91) | $(0.26) | $(0.31) | $(0.63) | $(0.30) |
Net asset value, end of period (x) | $11.40 | $10.65 | $13.82 | $10.88 | $10.45 | $11.80 |
Total return (%) (r)(s)(t)(x) | 9.72(n) | (17.37) | 29.75 | 6.92 | (5.72) | 1.50 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 0.95(a) | 0.95 | 0.96 | 0.99 | 1.00 | 0.98 |
Expenses after expense reductions | 0.89(a) | 0.89 | 0.89 | 0.89 | 0.89 | 0.89 |
Net investment income (loss) | 1.39(a)(l) | 2.64 | 2.22 | 2.37 | 2.79 | 2.29 |
Portfolio turnover | 29(n) | 52 | 68 | 72 | 58 | 69 |
Net assets at end of period (000 omitted) | $1,065 | $532 | $395 | $64 | $58 | $61 |
Class R4 | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $10.65 | $13.79 | $10.85 | $10.42 | $11.77 | $11.88 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.10 | $0.38 | $0.35 | $0.27 | $0.33 | $0.31 |
Net realized and unrealized gain (loss) | 0.94 | (2.59) | 2.87 | 0.49 | (1.02) | (0.10) |
Total from investment operations | $1.04 | $(2.21) | $3.22 | $0.76 | $(0.69) | $0.21 |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.21) | $(0.36) | $(0.28) | $(0.33) | $(0.29) | $(0.18) |
From net realized gain | (0.09) | (0.57) | — | — | (0.37) | (0.14) |
Total distributions declared to shareholders | $(0.30) | $(0.93) | $(0.28) | $(0.33) | $(0.66) | $(0.32) |
Net asset value, end of period (x) | $11.39 | $10.65 | $13.79 | $10.85 | $10.42 | $11.77 |
Total return (%) (r)(s)(t)(x) | 9.78(n) | (17.09) | 30.12 | 7.18 | (5.45) | 1.74 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 0.69(a) | 0.69 | 0.72 | 0.74 | 0.75 | 0.73 |
Expenses after expense reductions | 0.64(a) | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 |
Net investment income (loss) | 1.76(a)(l) | 3.11 | 2.73 | 2.62 | 3.04 | 2.54 |
Portfolio turnover | 29(n) | 52 | 68 | 72 | 58 | 69 |
Net assets at end of period (000 omitted) | $369 | $329 | $81 | $62 | $58 | $62 |
Class R6 | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $10.65 | $13.80 | $10.85 | $10.43 | $11.78 | $11.88 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.10 | $0.37 | $0.36 | $0.29 | $0.34 | $0.32 |
Net realized and unrealized gain (loss) | 0.95 | (2.58) | 2.88 | 0.47 | (1.02) | (0.09) |
Total from investment operations | $1.05 | $(2.21) | $3.24 | $0.76 | $(0.68) | $0.23 |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.21) | $(0.37) | $(0.29) | $(0.34) | $(0.30) | $(0.19) |
From net realized gain | (0.09) | (0.57) | — | — | (0.37) | (0.14) |
Total distributions declared to shareholders | $(0.30) | $(0.94) | $(0.29) | $(0.34) | $(0.67) | $(0.33) |
Net asset value, end of period (x) | $11.40 | $10.65 | $13.80 | $10.85 | $10.43 | $11.78 |
Total return (%) (r)(s)(t)(x) | 9.89(n) | (17.07) | 30.32 | 7.18 | (5.33) | 1.86 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 0.61(a) | 0.62 | 0.63 | 0.65 | 0.65 | 0.65 |
Expenses after expense reductions | 0.56(a) | 0.55 | 0.55 | 0.55 | 0.54 | 0.54 |
Net investment income (loss) | 1.87(a)(l) | 3.02 | 2.82 | 2.76 | 3.13 | 2.60 |
Portfolio turnover | 29(n) | 52 | 68 | 72 | 58 | 69 |
Net assets at end of period (000 omitted) | $290,843 | $291,234 | $293,695 | $247,726 | $206,790 | $207,449 |
(a) | Annualized. |
(d) | Per share data is based on average shares outstanding. |
(l) | Recognition of net investment income by the fund may be affected by the timing of the declaration of dividends by companies in which the fund invests and the actual annual net investment income ratio may differ. |
(n) | Not annualized. |
(r) | Certain expenses have been reduced without which performance would have been lower. |
(s) | From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower. |
(t) | Total returns do not include any applicable sales charges. |
(x) | The net asset values and total returns have been calculated on net assets which include adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes. |
Financial Instruments | Level 1 | Level 2 | Level 3 | Total |
Equity Securities: | ||||
Japan | $69,506,913 | $— | $— | $69,506,913 |
United Kingdom | 58,456,011 | — | — | 58,456,011 |
France | 54,100,951 | — | — | 54,100,951 |
China | 50,464,583 | — | — | 50,464,583 |
Canada | 47,818,279 | 87,443 | — | 47,905,722 |
Switzerland | 44,500,579 | — | — | 44,500,579 |
Australia | 26,851,577 | — | — | 26,851,577 |
Germany | 25,025,243 | — | — | 25,025,243 |
South Korea | 24,373,863 | — | — | 24,373,863 |
Other Countries | 148,491,066 | 4,805,144 | 0 | 153,296,210 |
Mutual Funds | 8,906,853 | — | — | 8,906,853 |
Total | $558,495,918 | $4,892,587 | $0 | $563,388,505 |
Year ended 8/31/22 | |
Ordinary income (including any short-term capital gains) | $21,674,755 |
Long-term capital gains | 8,246,177 |
Total distributions | $29,920,932 |
As of 2/28/23 | |
Cost of investments | $530,278,575 |
Gross appreciation | 67,110,508 |
Gross depreciation | (34,000,578) |
Net unrealized appreciation (depreciation) | $33,109,930 |
As of 8/31/22 | |
Undistributed ordinary income | 10,336,927 |
Undistributed long-term capital gain | 4,266,353 |
Other temporary differences | (127,054) |
Net unrealized appreciation (depreciation) | (28,293,501) |
Six months ended 2/28/23 | Year ended 8/31/22 | ||
Class A | $546,445 | $721,057 | |
Class B | 2,838 | 12,333 | |
Class C | 7,387 | 21,621 | |
Class I | 5,503,685 | 8,920,924 | |
Class R1 | 17,970 | 10,834 | |
Class R2 | 33,852 | 69,003 | |
Class R3 | 15,862 | 29,347 | |
Class R4 | 9,228 | 5,437 | |
Class R6 | 8,601,157 | 20,130,376 | |
Total | $14,738,424 | $29,920,932 |
Up to $1 billion | 0.50% |
In excess of $1 billion and up to $2.5 billion | 0.475% |
In excess of $2.5 billion | 0.45% |
Classes | ||||||||
A | B | C | I | R1 | R2 | R3 | R4 | R6 |
0.89% | 1.64% | 1.64% | 0.64% | 1.64% | 1.14% | 0.89% | 0.64% | 0.58% |
Distribution Fee Rate (d) | Service Fee Rate (d) | Total Distribution Plan (d) | Annual Effective Rate (e) | Distribution and Service Fee | |
Class A | — | 0.25% | 0.25% | 0.25% | $ 27,787 |
Class B | 0.75% | 0.25% | 1.00% | 1.00% | 745 |
Class C | 0.75% | 0.25% | 1.00% | 1.00% | 1,796 |
Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 3,457 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 3,833 |
Class R3 | — | 0.25% | 0.25% | 0.25% | 844 |
Total Distribution and Service Fees | $38,462 |
(d) | In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each class’s average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting period. Any rate changes, if applicable, are detailed below. |
(e) | The annual effective rates represent actual fees incurred under the distribution plan for the six months ended February 28, 2023 based on each class's average daily net assets. MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. There were no service fee rebates for the six months ended February 28, 2023. |
Amount | |
Class A | $370 |
Class B | 95 |
Class C | — |
Six months ended 2/28/23 | Year ended 8/31/22 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | |||||
Class A | 923,096 | $10,247,450 | 1,445,475 | $17,524,904 | |
Class B | — | — | 668 | 8,309 | |
Class C | 10,865 | 117,997 | 6,194 | 74,819 | |
Class I | 6,723,420 | 72,356,121 | 16,753,472 | 213,740,458 | |
Class R1 | 40,256 | 409,960 | 23,544 | 281,698 | |
Class R2 | 102,020 | 1,175,633 | 99,816 | 1,250,964 | |
Class R3 | 43,082 | 496,192 | 24,821 | 282,831 | |
Class R4 | 669 | 7,286 | 24,615 | 270,767 | |
Class R6 | 3,294,529 | 34,054,845 | 7,030,731 | 81,862,937 | |
11,137,937 | $118,865,484 | 25,409,336 | $315,297,687 | ||
Shares issued to shareholders in reinvestment of distributions | |||||
Class A | 48,487 | $546,445 | 56,642 | $721,057 | |
Class B | 258 | 2,838 | 989 | 12,333 | |
Class C | 672 | 7,387 | 1,737 | 21,621 | |
Class I | 494,936 | 5,503,685 | 710,831 | 8,920,924 | |
Class R1 | 1,649 | 17,970 | 873 | 10,834 | |
Class R2 | 3,064 | 33,852 | 5,520 | 69,003 | |
Class R3 | 1,423 | 15,862 | 2,329 | 29,347 | |
Class R4 | 829 | 9,228 | 433 | 5,437 | |
Class R6 | 771,681 | 8,596,529 | 1,602,737 | 20,130,376 | |
1,322,999 | $14,733,796 | 2,382,091 | $29,920,932 |
Six months ended 2/28/23 | Year ended 8/31/22 | ||||
Shares | Amount | Shares | Amount | ||
Shares reacquired | |||||
Class A | (337,615) | $(3,694,993) | (7,769,579) | $(106,761,644) | |
Class B | (2,243) | (23,999) | (1,760) | (21,687) | |
Class C | (8,632) | (95,334) | (4,495) | (57,633) | |
Class I | (2,962,658) | (31,924,456) | (2,495,424) | (30,029,655) | |
Class R1 | (637) | (6,529) | (11,584) | (154,529) | |
Class R2 | (13,366) | (155,163) | (15,246) | (175,941) | |
Class R3 | (1,014) | (11,560) | (5,747) | (65,981) | |
Class R4 | (7) | (76) | — | — | |
Class R6 | (5,892,655) | (64,561,293) | (2,572,890) | (32,096,561) | |
(9,218,827) | $(100,473,403) | (12,876,725) | $(169,363,631) | ||
Net change | |||||
Class A | 633,968 | $7,098,902 | (6,267,462) | $(88,515,683) | |
Class B | (1,985) | (21,161) | (103) | (1,045) | |
Class C | 2,905 | 30,050 | 3,436 | 38,807 | |
Class I | 4,255,698 | 45,935,350 | 14,968,879 | 192,631,727 | |
Class R1 | 41,268 | 421,401 | 12,833 | 138,003 | |
Class R2 | 91,718 | 1,054,322 | 90,090 | 1,144,026 | |
Class R3 | 43,491 | 500,494 | 21,403 | 246,197 | |
Class R4 | 1,491 | 16,438 | 25,048 | 276,204 | |
Class R6 | (1,826,445) | (21,909,919) | 6,060,578 | 69,896,752 | |
3,242,109 | $33,125,877 | 14,914,702 | $175,854,988 |
Affiliated Issuers | Beginning Value | Purchases | Sales Proceeds | Realized Gain (Loss) | Change in Unrealized Appreciation or Depreciation | Ending Value |
MFS Institutional Money Market Portfolio | $2,763,687 | $84,909,166 | $81,308,737 | $305 | $(384) | $6,364,037 |
Affiliated Issuers | Dividend Income | Capital Gain Distributions |
MFS Institutional Money Market Portfolio | $75,459 | $— |
Discovery Fund
Discovery Fund
1 | |
2 | |
4 | |
6 | |
11 | |
13 | |
14 | |
15 | |
24 | |
35 | |
35 | |
35 | |
35 | |
35 |
back cover |
GFL Environmental, Inc. | 2.2% |
LKQ Corp. | 2.1% |
AUB Group Ltd. | 2.0% |
NS Solutions Corp. | 1.9% |
ICON PLC | 1.9% |
STERIS PLC | 1.8% |
Cranswick PLC | 1.8% |
Howmet Aerospace, Inc. | 1.8% |
Axalta Coating Systems Ltd. | 1.7% |
Burberry Group PLC | 1.6% |
Industrials | 21.7% |
Information Technology | 15.1% |
Consumer Discretionary | 13.8% |
Materials | 11.8% |
Health Care | 9.8% |
Financials | 8.5% |
Real Estate | 5.9% |
Communication Services | 4.4% |
Consumer Staples | 3.8% |
Energy | 2.6% |
United States | 39.9% |
United Kingdom | 12.1% |
Japan | 9.1% |
Germany | 6.3% |
Canada | 5.6% |
Netherlands | 4.5% |
France | 3.2% |
Australia | 2.9% |
India | 2.5% |
Other Countries | 13.9% |
United States Dollar | 45.1% |
Euro | 18.0% |
British Pound Sterling | 12.1% |
Japanese Yen | 9.1% |
Australian Dollar | 2.9% |
Indian Rupee | 2.5% |
Brazilian Real | 2.0% |
Swiss Franc | 1.8% |
Norwegian Krone | 1.7% |
Other Currencies | 4.8% |
(g) | The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. (“S&P Global Market Intelligence”). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS. |
(x) | Represents the portfolio’s exposure to issuer countries as a percentage of a portfolio’s net assets. For purposes of this presentation, United States includes Cash & Cash Equivalents. |
(y) | Represents the portfolio’s exposure to a particular currency as a percentage of a portfolio's net assets. For purposes of this presentation, United States Dollar includes Cash & Cash Equivalents. |
September 1, 2022 through February 28, 2023
Share Class | Annualized Expense Ratio | Beginning Account Value 9/01/22 | Ending Account Value 2/28/23 | Expenses Paid During Period (p) 9/01/22-2/28/23 | |
A | Actual | 1.36% | $1,000.00 | $1,073.00 | $6.99 |
Hypothetical (h) | 1.36% | $1,000.00 | $1,018.05 | $6.80 | |
B | Actual | 2.11% | $1,000.00 | $1,068.92 | $10.82 |
Hypothetical (h) | 2.11% | $1,000.00 | $1,014.33 | $10.54 | |
C | Actual | 2.11% | $1,000.00 | $1,068.92 | $10.82 |
Hypothetical (h) | 2.11% | $1,000.00 | $1,014.33 | $10.54 | |
I | Actual | 1.11% | $1,000.00 | $1,074.49 | $5.71 |
Hypothetical (h) | 1.11% | $1,000.00 | $1,019.29 | $5.56 | |
R1 | Actual | 2.11% | $1,000.00 | $1,068.97 | $10.82 |
Hypothetical (h) | 2.11% | $1,000.00 | $1,014.33 | $10.54 | |
R2 | Actual | 1.61% | $1,000.00 | $1,071.87 | $8.27 |
Hypothetical (h) | 1.61% | $1,000.00 | $1,016.81 | $8.05 | |
R3 | Actual | 1.35% | $1,000.00 | $1,073.00 | $6.94 |
Hypothetical (h) | 1.35% | $1,000.00 | $1,018.10 | $6.76 | |
R4 | Actual | 1.11% | $1,000.00 | $1,074.45 | $5.71 |
Hypothetical (h) | 1.11% | $1,000.00 | $1,019.29 | $5.56 | |
R6 | Actual | 1.01% | $1,000.00 | $1,075.28 | $5.20 |
Hypothetical (h) | 1.01% | $1,000.00 | $1,019.79 | $5.06 |
(h) | 5% class return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – 97.4% | ||||
Aerospace & Defense – 2.9% | ||||
Howmet Aerospace, Inc. | 26,693 | $1,125,911 | ||
Singapore Technologies Engineering Ltd. | 149,400 | 395,534 | ||
Teledyne Technologies, Inc. (a) | 760 | 326,853 | ||
$1,848,298 | ||||
Apparel Manufacturers – 2.7% | ||||
Burberry Group PLC | 35,412 | $1,050,400 | ||
Skechers USA, Inc., “A” (a) | 16,013 | 712,739 | ||
$1,763,139 | ||||
Automotive – 2.9% | ||||
Koito Manufacturing Co. Ltd. | 29,600 | $497,192 | ||
LKQ Corp. | 24,048 | 1,377,710 | ||
$1,874,902 | ||||
Biotechnology – 0.7% | ||||
Abcam PLC, ADR (a) | 32,800 | $472,648 | ||
Brokerage & Asset Managers – 3.4% | ||||
B3 Brasil Bolsa Balcao S.A. | 283,000 | $570,276 | ||
Cboe Global Markets, Inc. | 5,374 | 678,037 | ||
Euronext N.V. | 12,748 | 932,253 | ||
$2,180,566 | ||||
Business Services – 7.2% | ||||
Gruppo Mutuionline S.p.A. | 11,015 | $335,070 | ||
Keywords Studios PLC | 20,269 | 705,086 | ||
NS Solutions Corp. | 47,800 | 1,246,300 | ||
RS Group PLC | 83,216 | 978,442 | ||
Thoughtworks Holding, Inc. (a) | 46,111 | 339,377 | ||
WNS (Holdings) Ltd., ADR (a) | 11,595 | 1,007,837 | ||
$4,612,112 | ||||
Cable TV – 0.8% | ||||
Cable One, Inc. | 715 | $493,786 | ||
Chemicals – 4.4% | ||||
Borregaard ASA | 32,733 | $555,384 | ||
Element Solutions, Inc. | 48,055 | 987,050 | ||
IMCD Group N.V. | 4,268 | 676,688 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Chemicals – continued | ||||
UPL Ltd. | 72,077 | $605,266 | ||
$2,824,388 | ||||
Computer Software – 5.2% | ||||
Black Knight, Inc. (a) | 11,894 | $708,882 | ||
Dun & Bradstreet Holdings, Inc. | 23,902 | 287,063 | ||
Kinaxis, Inc. (a) | 3,551 | 412,666 | ||
OBIC Co. Ltd. | 3,100 | 453,997 | ||
Oracle Corp. Japan | 5,900 | 402,130 | ||
Paycor HCM, Inc. (a) | 17,364 | 430,106 | ||
Sabre Corp. (a) | 50,900 | 257,554 | ||
SimCorp A/S | 5,631 | 404,578 | ||
$3,356,976 | ||||
Computer Software - Systems – 3.5% | ||||
Amadeus IT Group S.A. (a) | 8,719 | $547,792 | ||
Cancom SE | 8,025 | 281,633 | ||
Kardex AG | 2,172 | 402,645 | ||
Nagarro SE (a) | 2,532 | 259,775 | ||
Nuvei Corp. (a) | 12,748 | 390,726 | ||
Rapid7, Inc. (a) | 7,712 | 364,778 | ||
$2,247,349 | ||||
Construction – 3.1% | ||||
AZEK Co., Inc. (a) | 20,082 | $483,775 | ||
Breedon Group PLC | 810,844 | 692,480 | ||
Masco Corp. | 15,833 | 830,124 | ||
$2,006,379 | ||||
Consumer Services – 1.8% | ||||
Boyd Group Services, Inc. | 3,749 | $593,136 | ||
Bright Horizons Family Solutions, Inc. (a) | 6,948 | 547,780 | ||
$1,140,916 | ||||
Containers – 1.8% | ||||
Mayr-Melnhof Karton AG | 2,671 | $449,194 | ||
Verallia | 17,896 | 723,072 | ||
$1,172,266 | ||||
Electrical Equipment – 1.6% | ||||
Sensata Technologies Holding PLC | 20,294 | $1,026,471 | ||
Electronics – 1.3% | ||||
ASM International N.V. | 2,401 | $820,270 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Energy - Independent – 1.3% | ||||
Diamondback Energy, Inc. | 5,855 | $823,096 | ||
Engineering - Construction – 0.9% | ||||
Jacobs Solutions, Inc. | 4,821 | $576,110 | ||
Entertainment – 2.7% | ||||
CTS Eventim AG (a) | 11,073 | $728,481 | ||
Lottery Corp. Ltd. (a) | 163,778 | 571,970 | ||
Vivid Seats, Inc., “A” (a) | 56,068 | 430,042 | ||
$1,730,493 | ||||
Food & Beverages – 3.8% | ||||
Bakkafrost P/f | 8,493 | $557,760 | ||
Cranswick PLC | 30,150 | 1,135,124 | ||
S Foods, Inc. | 20,400 | 417,574 | ||
Universal Robina Corp. | 126,840 | 312,803 | ||
$2,423,261 | ||||
Gaming & Lodging – 0.9% | ||||
Penn Entertainment, Inc. (a) | 18,164 | $554,547 | ||
Insurance – 2.7% | ||||
Arthur J. Gallagher & Co. | 2,501 | $468,563 | ||
AUB Group Ltd. | 67,936 | 1,265,367 | ||
$1,733,930 | ||||
Internet – 0.7% | ||||
Cian PLC, ADR (a)(u) | 63,311 | $0 | ||
Scout24 AG | 8,584 | 471,397 | ||
$471,397 | ||||
Machinery & Tools – 7.4% | ||||
Azbil Corp. | 12,200 | $317,197 | ||
Fujitec Co. Ltd. | 20,900 | 483,530 | ||
IDEX Corp. | 2,807 | 631,519 | ||
Ingersoll Rand, Inc. | 16,047 | 931,849 | ||
Ritchie Bros. Auctioneers, Inc. | 12,896 | 788,848 | ||
SIG Combibloc Group AG | 18,126 | 438,404 | ||
VAT Group AG | 942 | 284,445 | ||
Wabtec Corp. | 4,567 | 476,475 | ||
Zurn Elkay Water Solutions Corp. | 16,904 | 388,792 | ||
$4,741,059 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Medical & Health Technology & Services – 3.2% | ||||
AS ONE Corp. | 7,600 | $317,051 | ||
ICON PLC (a) | 5,340 | 1,204,864 | ||
Selcuk Ecza Deposu Ticaret ve Sanayi A.S. | 265,113 | 549,739 | ||
$2,071,654 | ||||
Medical Equipment – 5.8% | ||||
Bruker BioSciences Corp. | 10,329 | $711,875 | ||
Envista Holdings Corp. (a) | 21,507 | 831,460 | ||
Gerresheimer AG | 11,459 | 1,007,793 | ||
STERIS PLC | 6,197 | 1,165,222 | ||
$3,716,350 | ||||
Oil Services – 1.3% | ||||
ChampionX Corp. | 28,175 | $861,310 | ||
Other Banks & Diversified Financials – 1.9% | ||||
Allfunds Group PLC | 42,357 | $370,504 | ||
Shizuoka Financial Group, Inc. | 103,300 | 825,459 | ||
$1,195,963 | ||||
Pollution Control – 3.0% | ||||
Daiseki Co. Ltd. | 16,800 | $505,277 | ||
GFL Environmental, Inc. | 46,457 | 1,410,899 | ||
$1,916,176 | ||||
Printing & Publishing – 1.1% | ||||
Wolters Kluwer N.V. | 5,848 | $676,995 | ||
Real Estate – 4.8% | ||||
Big Yellow Group PLC, REIT | 31,870 | $465,385 | ||
Catena AB | 9,594 | 376,318 | ||
LEG Immobilien SE | 4,558 | 331,588 | ||
Sun Communities, Inc., REIT | 5,033 | 720,424 | ||
Tritax Big Box PLC, REIT | 266,555 | 479,976 | ||
Unite Group PLC, REIT | 58,101 | 686,987 | ||
$3,060,678 | ||||
Restaurants – 1.7% | ||||
Sodexo | 4,240 | $393,483 | ||
Yum China Holdings, Inc. | 12,096 | 710,398 | ||
$1,103,881 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Specialty Chemicals – 4.9% | ||||
Axalta Coating Systems Ltd. (a) | 36,457 | $1,086,419 | ||
Croda International PLC | 4,640 | 366,240 | ||
Essentra PLC | 276,696 | 745,525 | ||
Symrise AG | 9,149 | 936,723 | ||
$3,134,907 | ||||
Specialty Stores – 4.9% | ||||
Burlington Stores, Inc. (a) | 3,654 | $782,869 | ||
Just Eat Takeaway (a) | 16,203 | 354,755 | ||
Leslie's, Inc. (a) | 25,110 | 316,637 | ||
Multiplan Empreendimentos Imobiliarios S.A. | 151,995 | 730,733 | ||
Musti Group OY | 30,900 | 580,122 | ||
NISHIMATSUYA CHAIN Co., Ltd. | 34,900 | 401,662 | ||
$3,166,778 | ||||
Telephone Services – 1.1% | ||||
Wireless Infrastructure Italian S.p.A. | 61,934 | $682,589 | ||
Total Common Stocks (Identified Cost, $57,755,807) | $62,481,640 | |||
Investment Companies (h) – 2.7% | ||||
Money Market Funds – 2.7% | ||||
MFS Institutional Money Market Portfolio, 4.55% (v) (Identified Cost, $1,763,446) | 1,763,506 | $1,763,506 | ||
Other Assets, Less Liabilities – (0.1)% | (72,049) | |||
Net Assets – 100.0% | $64,173,097 |
(a) | Non-income producing security. | |||
(h) | An affiliated issuer, which may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated issuers and in unaffiliated issuers were $1,763,506 and $62,481,640, respectively. | |||
(u) | The security was valued using significant unobservable inputs and is considered level 3 under the fair value hierarchy. For further information about the fund’s level 3 holdings, please see Note 2 in the Notes to Financial Statements. | |||
(v) | Affiliated issuer that is available only to investment companies managed by MFS. The rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end. |
The following abbreviations are used in this report and are defined: | |
ADR | American Depositary Receipt |
REIT | Real Estate Investment Trust |
Assets | |
Investments in unaffiliated issuers, at value (identified cost, $57,755,807) | $62,481,640 |
Investments in affiliated issuers, at value (identified cost, $1,763,446) | 1,763,506 |
Foreign currency, at value (identified cost, $143) | 143 |
Receivables for | |
Fund shares sold | 124,893 |
Interest and dividends | 95,750 |
Receivable from investment adviser | 21,812 |
Other assets | 41,152 |
Total assets | $64,528,896 |
Liabilities | |
Payables for | |
Fund shares reacquired | $246,482 |
Payable to affiliates | |
Administrative services fee | 108 |
Shareholder servicing costs | 15,536 |
Distribution and service fees | 544 |
Payable for independent Trustees' compensation | 570 |
Deferred country tax expense payable | 2,260 |
Accrued expenses and other liabilities | 90,299 |
Total liabilities | $355,799 |
Net assets | $64,173,097 |
Net assets consist of | |
Paid-in capital | $65,476,828 |
Total distributable earnings (loss) | (1,303,731) |
Net assets | $64,173,097 |
Shares of beneficial interest outstanding | 3,251,642 |
Net assets | Shares outstanding | Net asset value per share (a) | |
Class A | $24,220,451 | 1,238,671 | $19.55 |
Class B | 1,555,936 | 87,994 | 17.68 |
Class C | 1,582,776 | 89,519 | 17.68 |
Class I | 20,950,336 | 1,045,064 | 20.05 |
Class R1 | 123,356 | 6,982 | 17.67 |
Class R2 | 206,639 | 10,910 | 18.94 |
Class R3 | 676,835 | 34,623 | 19.55 |
Class R4 | 231,083 | 11,521 | 20.06 |
Class R6 | 14,625,685 | 726,358 | 20.14 |
(a) | Maximum offering price per share was equal to the net asset value per share for all share classes, except for Class A, for which the maximum offering price per share was $20.74 [100 / 94.25 x $19.55]. On sales of $50,000 or more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions of Class A, Class B, and Class C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and R6. |
Net investment income (loss) | |
Income | |
Dividends | $279,993 |
Dividends from affiliated issuers | 29,226 |
Income on securities loaned | 877 |
Foreign taxes withheld | (17,182) |
Total investment income | $292,914 |
Expenses | |
Management fee | $299,498 |
Distribution and service fees | 47,531 |
Shareholder servicing costs | 32,310 |
Administrative services fee | 9,553 |
Independent Trustees' compensation | 1,602 |
Custodian fee | 20,849 |
Shareholder communications | 8,034 |
Audit and tax fees | 39,698 |
Legal fees | 214 |
Registration fees | 61,380 |
Miscellaneous | 16,911 |
Total expenses | $537,580 |
Reduction of expenses by investment adviser | (156,822) |
Net expenses | $380,758 |
Net investment income (loss) | $(87,844) |
Realized and unrealized gain (loss) | |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers (net of $3,791 country tax) | $(732,307) |
Affiliated issuers | 151 |
Foreign currency | (1,939) |
Net realized gain (loss) | $(734,095) |
Change in unrealized appreciation or depreciation | |
Unaffiliated issuers (net of $9,535 decrease in deferred country tax) | $5,102,803 |
Affiliated issuers | 72 |
Translation of assets and liabilities in foreign currencies | 900 |
Net unrealized gain (loss) | $5,103,775 |
Net realized and unrealized gain (loss) | $4,369,680 |
Change in net assets from operations | $4,281,836 |
Six months ended | Year ended | |
2/28/23 (unaudited) | 8/31/22 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $(87,844) | $(341,062) |
Net realized gain (loss) | (734,095) | (2,295,855) |
Net unrealized gain (loss) | 5,103,775 | (34,775,779) |
Change in net assets from operations | $4,281,836 | $(37,412,696) |
Total distributions to shareholders | $— | $(7,820,101) |
Change in net assets from fund share transactions | $(3,842,447) | $(25,748,877) |
Total change in net assets | $439,389 | $(70,981,674) |
Net assets | ||
At beginning of period | 63,733,708 | 134,715,382 |
At end of period | $64,173,097 | $63,733,708 |
Class A | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $18.22 | $27.56 | $21.57 | $18.72 | $21.27 | $18.31 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.04) | $(0.10) | $(0.06) | $(0.06) | $(0.03) | $(0.03) |
Net realized and unrealized gain (loss) | 1.37 | (7.66) | 6.96 | 3.49 | (0.62) | 3.57 |
Total from investment operations | $1.33 | $(7.76) | $6.90 | $3.43 | $(0.65) | $3.54 |
Less distributions declared to shareholders | ||||||
From net investment income | $— | $— | $— | $— | $(0.02) | $— |
From net realized gain | — | (1.58) | (0.91) | (0.58) | (1.88) | (0.58) |
Total distributions declared to shareholders | $— | $(1.58) | $(0.91) | $(0.58) | $(1.90) | $(0.58) |
Net asset value, end of period (x) | $19.55 | $18.22 | $27.56 | $21.57 | $18.72 | $21.27 |
Total return (%) (r)(s)(t)(x) | 7.30(n) | (29.71) | 32.82 | 18.63 | (1.65) | 19.70 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.87(a) | 1.67 | 1.68 | 1.97 | 2.04 | 1.94 |
Expenses after expense reductions | 1.36(a) | 1.35 | 1.34 | 1.49 | 1.51 | 1.50 |
Net investment income (loss) | (0.40)(a) | (0.45) | (0.26) | (0.32) | (0.16) | (0.17) |
Portfolio turnover | 12(n) | 36 | 36 | 84 | 55 | 36 |
Net assets at end of period (000 omitted) | $24,220 | $23,856 | $44,743 | $17,029 | $11,255 | $11,581 |
Class B | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $16.54 | $25.35 | $20.05 | $17.57 | $20.21 | $17.55 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.09) | $(0.24) | $(0.25) | $(0.19) | $(0.16) | $(0.17) |
Net realized and unrealized gain (loss) | 1.23 | (6.99) | 6.46 | 3.25 | (0.60) | 3.41 |
Total from investment operations | $1.14 | $(7.23) | $6.21 | $3.06 | $(0.76) | $3.24 |
Less distributions declared to shareholders | ||||||
From net investment income | $— | $— | $— | $— | $— | $— |
From net realized gain | — | (1.58) | (0.91) | (0.58) | (1.88) | (0.58) |
Total distributions declared to shareholders | $— | $(1.58) | $(0.91) | $(0.58) | $(1.88) | $(0.58) |
Net asset value, end of period (x) | $17.68 | $16.54 | $25.35 | $20.05 | $17.57 | $20.21 |
Total return (%) (r)(s)(t)(x) | 6.89(n) | (30.24) | 31.84 | 17.72 | (2.35) | 18.83 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 2.62(a) | 2.43 | 2.46 | 2.72 | 2.79 | 2.69 |
Expenses after expense reductions | 2.11(a) | 2.10 | 2.10 | 2.24 | 2.26 | 2.25 |
Net investment income (loss) | (1.14)(a) | (1.15) | (1.12) | (1.08) | (0.91) | (0.90) |
Portfolio turnover | 12(n) | 36 | 36 | 84 | 55 | 36 |
Net assets at end of period (000 omitted) | $1,556 | $1,739 | $2,979 | $2,678 | $2,508 | $2,488 |
Class C | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $16.54 | $25.35 | $20.05 | $17.57 | $20.21 | $17.55 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.09) | $(0.24) | $(0.25) | $(0.19) | $(0.16) | $(0.18) |
Net realized and unrealized gain (loss) | 1.23 | (6.99) | 6.46 | 3.25 | (0.60) | 3.42 |
Total from investment operations | $1.14 | $(7.23) | $6.21 | $3.06 | $(0.76) | $3.24 |
Less distributions declared to shareholders | ||||||
From net investment income | $— | $— | $— | $— | $— | $— |
From net realized gain | — | (1.58) | (0.91) | (0.58) | (1.88) | (0.58) |
Total distributions declared to shareholders | $— | $(1.58) | $(0.91) | $(0.58) | $(1.88) | $(0.58) |
Net asset value, end of period (x) | $17.68 | $16.54 | $25.35 | $20.05 | $17.57 | $20.21 |
Total return (%) (r)(s)(t)(x) | 6.89(n) | (30.24) | 31.84 | 17.72 | (2.35) | 18.83 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 2.62(a) | 2.43 | 2.46 | 2.72 | 2.78 | 2.69 |
Expenses after expense reductions | 2.11(a) | 2.10 | 2.10 | 2.24 | 2.26 | 2.25 |
Net investment income (loss) | (1.13)(a) | (1.16) | (1.13) | (1.08) | (0.91) | (0.93) |
Portfolio turnover | 12(n) | 36 | 36 | 84 | 55 | 36 |
Net assets at end of period (000 omitted) | $1,583 | $2,137 | $3,896 | $3,422 | $3,287 | $4,470 |
Class I | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $18.66 | $28.15 | $21.96 | $19.00 | $21.54 | $18.49 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.01) | $(0.06) | $(0.00)(w) | $(0.02) | $0.01 | $0.02 |
Net realized and unrealized gain (loss) | 1.40 | (7.83) | 7.10 | 3.56 | (0.62) | 3.61 |
Total from investment operations | $1.39 | $(7.89) | $7.10 | $3.54 | $(0.61) | $3.63 |
Less distributions declared to shareholders | ||||||
From net investment income | $— | $(0.02) | $— | $— | $(0.05) | $— |
From net realized gain | — | (1.58) | (0.91) | (0.58) | (1.88) | (0.58) |
Total distributions declared to shareholders | $— | $(1.60) | $(0.91) | $(0.58) | $(1.93) | $(0.58) |
Net asset value, end of period (x) | $20.05 | $18.66 | $28.15 | $21.96 | $19.00 | $21.54 |
Total return (%) (r)(s)(t)(x) | 7.45(n) | (29.55) | 33.16 | 18.94 | (1.41) | 20.01 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.62(a) | 1.40 | 1.43 | 1.72 | 1.76 | 1.69 |
Expenses after expense reductions | 1.11(a) | 1.10 | 1.09 | 1.24 | 1.26 | 1.25 |
Net investment income (loss) | (0.15)(a) | (0.26) | (0.02) | (0.09) | 0.05 | 0.11 |
Portfolio turnover | 12(n) | 36 | 36 | 84 | 55 | 36 |
Net assets at end of period (000 omitted) | $20,950 | $20,703 | $61,502 | $18,688 | $14,059 | $28,463 |
Class R1 | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $16.53 | $25.33 | $20.04 | $17.56 | $20.20 | $17.55 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.10) | $(0.23) | $(0.25) | $(0.19) | $(0.16) | $(0.18) |
Net realized and unrealized gain (loss) | 1.24 | (6.99) | 6.45 | 3.25 | (0.60) | 3.41 |
Total from investment operations | $1.14 | $(7.22) | $6.20 | $3.06 | $(0.76) | $3.23 |
Less distributions declared to shareholders | ||||||
From net investment income | $— | $— | $— | $— | $— | $— |
From net realized gain | — | (1.58) | (0.91) | (0.58) | (1.88) | (0.58) |
Total distributions declared to shareholders | $— | $(1.58) | $(0.91) | $(0.58) | $(1.88) | $(0.58) |
Net asset value, end of period (x) | $17.67 | $16.53 | $25.33 | $20.04 | $17.56 | $20.20 |
Total return (%) (r)(s)(t)(x) | 6.90(n) | (30.22) | 31.80 | 17.73 | (2.35) | 18.77 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 2.61(a) | 2.43 | 2.45 | 2.72 | 2.79 | 2.69 |
Expenses after expense reductions | 2.11(a) | 2.10 | 2.09 | 2.24 | 2.26 | 2.25 |
Net investment income (loss) | (1.16)(a) | (1.13) | (1.11) | (1.08) | (0.92) | (0.92) |
Portfolio turnover | 12(n) | 36 | 36 | 84 | 55 | 36 |
Net assets at end of period (000 omitted) | $123 | $114 | $160 | $120 | $101 | $73 |
Class R2 | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $17.67 | $26.85 | $21.09 | $18.36 | $20.93 | $18.06 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.06) | $(0.13) | $(0.14) | $(0.11) | $(0.07) | $(0.07) |
Net realized and unrealized gain (loss) | 1.33 | (7.47) | 6.81 | 3.42 | (0.62) | 3.52 |
Total from investment operations | $1.27 | $(7.60) | $6.67 | $3.31 | $(0.69) | $3.45 |
Less distributions declared to shareholders | ||||||
From net investment income | $— | $— | $— | $— | $— | $— |
From net realized gain | — | (1.58) | (0.91) | (0.58) | (1.88) | (0.58) |
Total distributions declared to shareholders | $— | $(1.58) | $(0.91) | $(0.58) | $(1.88) | $(0.58) |
Net asset value, end of period (x) | $18.94 | $17.67 | $26.85 | $21.09 | $18.36 | $20.93 |
Total return (%) (r)(s)(t)(x) | 7.19(n) | (29.91) | 32.47 | 18.33 | (1.89) | 19.47 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 2.12(a) | 1.94 | 1.95 | 2.22 | 2.29 | 2.18 |
Expenses after expense reductions | 1.61(a) | 1.60 | 1.59 | 1.74 | 1.76 | 1.75 |
Net investment income (loss) | (0.64)(a) | (0.61) | (0.61) | (0.58) | (0.41) | (0.33) |
Portfolio turnover | 12(n) | 36 | 36 | 84 | 55 | 36 |
Net assets at end of period (000 omitted) | $207 | $225 | $237 | $178 | $218 | $211 |
Class R3 | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $18.22 | $27.56 | $21.57 | $18.72 | $21.26 | $18.30 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.04) | $(0.08) | $(0.09) | $(0.06) | $(0.03) | $(0.04) |
Net realized and unrealized gain (loss) | 1.37 | (7.68) | 6.99 | 3.49 | (0.62) | 3.58 |
Total from investment operations | $1.33 | $(7.76) | $6.90 | $3.43 | $(0.65) | $3.54 |
Less distributions declared to shareholders | ||||||
From net investment income | $— | $— | $— | $— | $(0.01) | $— |
From net realized gain | — | (1.58) | (0.91) | (0.58) | (1.88) | (0.58) |
Total distributions declared to shareholders | $— | $(1.58) | $(0.91) | $(0.58) | $(1.89) | $(0.58) |
Net asset value, end of period (x) | $19.55 | $18.22 | $27.56 | $21.57 | $18.72 | $21.26 |
Total return (%) (r)(s)(t)(x) | 7.30(n) | (29.71) | 32.82 | 18.63 | (1.63) | 19.72 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.86(a) | 1.68 | 1.70 | 1.97 | 2.04 | 1.94 |
Expenses after expense reductions | 1.35(a) | 1.35 | 1.34 | 1.49 | 1.51 | 1.50 |
Net investment income (loss) | (0.45)(a) | (0.37) | (0.35) | (0.31) | (0.16) | (0.18) |
Portfolio turnover | 12(n) | 36 | 36 | 84 | 55 | 36 |
Net assets at end of period (000 omitted) | $677 | $189 | $294 | $206 | $152 | $144 |
Class R4 | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $18.67 | $28.15 | $21.96 | $19.00 | $21.56 | $18.50 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.02) | $(0.03) | $(0.03) | $(0.02) | $0.02 | $0.02 |
Net realized and unrealized gain (loss) | 1.41 | (7.85) | 7.13 | 3.56 | (0.64) | 3.62 |
Total from investment operations | $1.39 | $(7.88) | $7.10 | $3.54 | $(0.62) | $3.64 |
Less distributions declared to shareholders | ||||||
From net investment income | $— | $(0.02) | $— | $— | $(0.06) | $— |
From net realized gain | — | (1.58) | (0.91) | (0.58) | (1.88) | (0.58) |
Total distributions declared to shareholders | $— | $(1.60) | $(0.91) | $(0.58) | $(1.94) | $(0.58) |
Net asset value, end of period (x) | $20.06 | $18.67 | $28.15 | $21.96 | $19.00 | $21.56 |
Total return (%) (r)(s)(t)(x) | 7.45(n) | (29.53) | 33.16 | 18.94 | (1.43) | 20.05 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.62(a) | 1.43 | 1.45 | 1.72 | 1.78 | 1.69 |
Expenses after expense reductions | 1.11(a) | 1.10 | 1.09 | 1.24 | 1.26 | 1.25 |
Net investment income (loss) | (0.24)(a) | (0.13) | (0.11) | (0.08) | 0.08 | 0.08 |
Portfolio turnover | 12(n) | 36 | 36 | 84 | 55 | 36 |
Net assets at end of period (000 omitted) | $231 | $82 | $116 | $87 | $73 | $74 |
Class R6 | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $18.73 | $28.24 | $22.01 | $19.03 | $21.58 | $18.51 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.01) | $(0.01) | $(0.00)(w) | $0.01 | $0.05 | $0.04 |
Net realized and unrealized gain (loss) | 1.42 | (7.88) | 7.14 | 3.55 | (0.64) | 3.61 |
Total from investment operations | $1.41 | $(7.89) | $7.14 | $3.56 | $(0.59) | $3.65 |
Less distributions declared to shareholders | ||||||
From net investment income | $— | $(0.04) | $— | $— | $(0.08) | $— |
From net realized gain | — | (1.58) | (0.91) | (0.58) | (1.88) | (0.58) |
Total distributions declared to shareholders | $— | $(1.62) | $(0.91) | $(0.58) | $(1.96) | $(0.58) |
Net asset value, end of period (x) | $20.14 | $18.73 | $28.24 | $22.01 | $19.03 | $21.58 |
Total return (%) (r)(s)(t)(x) | 7.53(n) | (29.49) | 33.27 | 19.01 | (1.26) | 20.09 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions | 1.52(a) | 1.33 | 1.37 | 1.62 | 1.69 | 1.60 |
Expenses after expense reductions | 1.01(a) | 1.00 | 1.01 | 1.15 | 1.16 | 1.16 |
Net investment income (loss) | (0.06)(a) | (0.03) | (0.01) | 0.03 | 0.24 | 0.18 |
Portfolio turnover | 12(n) | 36 | 36 | 84 | 55 | 36 |
Net assets at end of period (000 omitted) | $14,626 | $14,688 | $20,788 | $13,432 | $13,382 | $6,332 |
(a) | Annualized. |
(d) | Per share data is based on average shares outstanding. |
(n) | Not annualized. |
(r) | Certain expenses have been reduced without which performance would have been lower. |
(s) | From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower. |
(t) | Total returns do not include any applicable sales charges. |
(w) | Per share amount was less than $0.01. |
(x) | The net asset values and total returns have been calculated on net assets which include adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes. |
Financial Instruments | Level 1 | Level 2 | Level 3 | Total |
Equity Securities: | ||||
United States | $23,940,069 | $— | $— | $23,940,069 |
United Kingdom | 7,778,293 | — | — | 7,778,293 |
Japan | 5,867,369 | — | — | 5,867,369 |
Germany | 4,017,390 | — | — | 4,017,390 |
Canada | 3,596,275 | — | — | 3,596,275 |
Netherlands | 2,899,212 | — | — | 2,899,212 |
France | 2,048,808 | — | — | 2,048,808 |
Australia | 1,837,337 | — | — | 1,837,337 |
India | 1,613,103 | — | — | 1,613,103 |
Other Countries | 8,883,784 | — | 0 | 8,883,784 |
Mutual Funds | 1,763,506 | — | — | 1,763,506 |
Total | $64,245,146 | $— | $0 | $64,245,146 |
Year ended 8/31/22 | |
Ordinary income (including any short-term capital gains) | $3,483,089 |
Long-term capital gains | 4,337,012 |
Total distributions | $7,820,101 |
As of 2/28/23 | |
Cost of investments | $61,161,710 |
Gross appreciation | 11,162,556 |
Gross depreciation | (8,079,120) |
Net unrealized appreciation (depreciation) | $3,083,436 |
As of 8/31/22 | |
Post-October capital loss deferral | (3,139,036) |
Late year ordinary loss deferral | (422,301) |
Other temporary differences | (6,368) |
Net unrealized appreciation (depreciation) | (2,017,862) |
Six months ended 2/28/23 | Year ended 8/31/22 | ||
Class A | $— | $2,689,305 | |
Class B | — | 174,641 | |
Class C | — | 236,042 | |
Class I | — | 3,450,777 | |
Class R1 | — | 10,037 | |
Class R2 | — | 17,602 | |
Class R3 | — | 14,661 | |
Class R4 | — | 6,625 | |
Class R6 | — | 1,220,411 | |
Total | $— | $7,820,101 |
Up to $1 billion | 0.975% |
In excess of $1 billion and up to $2.5 billion | 0.90% |
In excess of $2.5 billion | 0.85% |
Classes | ||||||||
A | B | C | I | R1 | R2 | R3 | R4 | R6 |
1.35% | 2.10% | 2.10% | 1.10% | 2.10% | 1.60% | 1.35% | 1.10% | 1.01% |
Distribution Fee Rate (d) | Service Fee Rate (d) | Total Distribution Plan (d) | Annual Effective Rate (e) | Distribution and Service Fee | |
Class A | — | 0.25% | 0.25% | 0.25% | $ 28,756 |
Class B | 0.75% | 0.25% | 1.00% | 1.00% | 8,103 |
Class C | 0.75% | 0.25% | 1.00% | 1.00% | 8,949 |
Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 572 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 540 |
Class R3 | — | 0.25% | 0.25% | 0.25% | 611 |
Total Distribution and Service Fees | $47,531 |
(d) | In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each class’s average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting period. Any rate changes, if applicable, are detailed below. |
(e) | The annual effective rates represent actual fees incurred under the distribution plan for the six months ended February 28, 2023 based on each class's average daily net assets. MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. There were no service fee rebates for the six months ended February 28, 2023. |
Amount | |
Class A | $788 |
Class B | 232 |
Class C | 20 |
Six months ended 2/28/23 | Year ended 8/31/22 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | |||||
Class A | 162,955 | $2,946,377 | 374,755 | $8,791,107 | |
Class B | — | — | 14 | 250 | |
Class C | 4,432 | 75,407 | 10,749 | 232,708 | |
Class I | 183,001 | 3,399,300 | 658,954 | 14,960,270 | |
Class R1 | 96 | 1,560 | 137 | 2,720 | |
Class R2 | 672 | 11,870 | 3,219 | 78,069 | |
Class R3 | 24,606 | 427,901 | 1,115 | 24,417 | |
Class R4 | 7,452 | 127,954 | — | — | |
Class R6 | 81,815 | 1,559,047 | 208,367 | 4,884,616 | |
465,029 | $8,549,416 | 1,257,310 | $28,974,157 | ||
Shares issued to shareholders in reinvestment of distributions | |||||
Class A | — | $— | 107,197 | $2,688,493 | |
Class B | — | — | 7,630 | 174,641 | |
Class C | — | — | 10,312 | 236,042 | |
Class I | — | — | 134,465 | 3,447,694 | |
Class R1 | — | — | 439 | 10,037 | |
Class R2 | — | — | 722 | 17,602 | |
Class R3 | — | — | 585 | 14,661 | |
Class R4 | — | — | 258 | 6,625 | |
Class R6 | — | — | 37,602 | 967,130 | |
— | $— | 299,210 | $7,562,925 | ||
Shares reacquired | |||||
Class A | (233,454) | $(4,119,628) | (795,983) | $(16,371,684) | |
Class B | (17,136) | (286,619) | (20,014) | (435,469) | |
Class C | (44,156) | (721,869) | (45,502) | (920,814) | |
Class I | (247,470) | (4,556,268) | (1,868,911) | (40,028,971) | |
Class R1 | (1) | (7) | (1) | (14) | |
Class R2 | (2,519) | (45,519) | (18) | (430) | |
Class R3 | (373) | (7,098) | (1,986) | (53,917) | |
Class R4 | (319) | (6,415) | — | — | |
Class R6 | (139,574) | (2,648,440) | (198,028) | (4,474,660) | |
(685,002) | $(12,391,863) | (2,930,443) | $(62,285,959) |
Six months ended 2/28/23 | Year ended 8/31/22 | ||||
Shares | Amount | Shares | Amount | ||
Net change | |||||
Class A | (70,499) | $(1,173,251) | (314,031) | $(4,892,084) | |
Class B | (17,136) | (286,619) | (12,370) | (260,578) | |
Class C | (39,724) | (646,462) | (24,441) | (452,064) | |
Class I | (64,469) | (1,156,968) | (1,075,492) | (21,621,007) | |
Class R1 | 95 | 1,553 | 575 | 12,743 | |
Class R2 | (1,847) | (33,649) | 3,923 | 95,241 | |
Class R3 | 24,233 | 420,803 | (286) | (14,839) | |
Class R4 | 7,133 | 121,539 | 258 | 6,625 | |
Class R6 | (57,759) | (1,089,393) | 47,941 | 1,377,086 | |
(219,973) | $(3,842,447) | (1,373,923) | $(25,748,877) |
Affiliated Issuers | Beginning Value | Purchases | Sales Proceeds | Realized Gain (Loss) | Change in Unrealized Appreciation or Depreciation | Ending Value |
MFS Institutional Money Market Portfolio | $2,012,274 | $7,362,701 | $7,611,692 | $151 | $72 | $1,763,506 |
Affiliated Issuers | Dividend Income | Capital Gain Distributions |
MFS Institutional Money Market Portfolio | $29,226 | $— |
1 | |
2 | |
3 | |
5 | |
10 | |
12 | |
13 | |
14 | |
20 | |
32 | |
32 | |
32 | |
32 | |
32 |
back cover |
Cadence Design Systems, Inc. | 3.5% |
MSCI, Inc. | 3.2% |
Monolithic Power Systems, Inc. | 3.2% |
Arthur J. Gallagher & Co. | 3.0% |
AMETEK, Inc. | 2.6% |
STERIS PLC | 2.3% |
O'Reilly Automotive, Inc. | 2.2% |
Verisk Analytics, Inc., “A” | 2.2% |
Vulcan Materials Co. | 2.2% |
Wolters Kluwer N.V. | 2.0% |
Information Technology | 23.1% |
Industrials | 21.7% |
Health Care | 16.9% |
Consumer Discretionary | 15.3% |
Financials | 9.7% |
Communication Services | 2.9% |
Energy | 2.6% |
Materials | 2.5% |
Real Estate | 2.1% |
Consumer Staples | 0.9% |
(g) | The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. (“S&P Global Market Intelligence”). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS. |
September 1, 2022 through February 28, 2023
Share Class | Annualized Expense Ratio | Beginning Account Value 9/01/22 | Ending Account Value 2/28/23 | Expenses Paid During Period (p) 9/01/22-2/28/23 | |
A | Actual | 1.03% | $1,000.00 | $1,023.50 | $5.17 |
Hypothetical (h) | 1.03% | $1,000.00 | $1,019.69 | $5.16 | |
B | Actual | 1.78% | $1,000.00 | $1,019.16 | $8.91 |
Hypothetical (h) | 1.78% | $1,000.00 | $1,015.97 | $8.90 | |
C | Actual | 1.78% | $1,000.00 | $1,019.83 | $8.91 |
Hypothetical (h) | 1.78% | $1,000.00 | $1,015.97 | $8.90 | |
I | Actual | 0.78% | $1,000.00 | $1,024.73 | $3.92 |
Hypothetical (h) | 0.78% | $1,000.00 | $1,020.93 | $3.91 | |
R1 | Actual | 1.78% | $1,000.00 | $1,019.83 | $8.91 |
Hypothetical (h) | 1.78% | $1,000.00 | $1,015.97 | $8.90 | |
R2 | Actual | 1.28% | $1,000.00 | $1,021.98 | $6.42 |
Hypothetical (h) | 1.28% | $1,000.00 | $1,018.45 | $6.41 | |
R3 | Actual | 1.03% | $1,000.00 | $1,023.66 | $5.17 |
Hypothetical (h) | 1.03% | $1,000.00 | $1,019.69 | $5.16 | |
R4 | Actual | 0.78% | $1,000.00 | $1,024.51 | $3.92 |
Hypothetical (h) | 0.78% | $1,000.00 | $1,020.93 | $3.91 | |
R6 | Actual | 0.66% | $1,000.00 | $1,025.29 | $3.31 |
Hypothetical (h) | 0.66% | $1,000.00 | $1,021.52 | $3.31 |
(h) | 5% class return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – 97.7% | ||||
Aerospace & Defense – 2.2% | ||||
Howmet Aerospace, Inc. | 5,228,281 | $220,528,893 | ||
Teledyne Technologies, Inc. (a) | 140,242 | 60,313,877 | ||
$280,842,770 | ||||
Automotive – 2.8% | ||||
Copart, Inc. (a) | 2,925,176 | $206,107,901 | ||
LKQ Corp. | 2,743,323 | 157,164,975 | ||
$363,272,876 | ||||
Brokerage & Asset Managers – 1.8% | ||||
NASDAQ, Inc. | 4,218,615 | $236,495,557 | ||
Business Services – 12.1% | ||||
CoStar Group, Inc. (a) | 2,928,207 | $206,907,107 | ||
Endava PLC, ADR (a) | 274,230 | 21,812,254 | ||
Equifax, Inc. | 883,909 | 179,018,090 | ||
Factset Research Systems, Inc. | 250,958 | 104,034,639 | ||
Morningstar, Inc. | 419,498 | 86,974,520 | ||
MSCI, Inc. | 773,513 | 403,889,813 | ||
Thoughtworks Holding, Inc. (a) | 1,629,960 | 11,996,505 | ||
TransUnion | 1,492,881 | 97,679,204 | ||
Tyler Technologies, Inc. (a) | 486,338 | 156,236,082 | ||
Verisk Analytics, Inc., “A” | 1,612,715 | 275,951,664 | ||
$1,544,499,878 | ||||
Computer Software – 10.9% | ||||
Autodesk, Inc. (a) | 454,297 | $90,264,271 | ||
Black Knight, Inc. (a) | 2,751,842 | 164,009,783 | ||
Bumble, Inc., “A” (a) | 974,689 | 23,567,980 | ||
Cadence Design Systems, Inc. (a) | 2,352,508 | 453,892,894 | ||
Dun & Bradstreet Holdings, Inc. | 7,509,809 | 90,192,806 | ||
Lumine Group, Inc. (a) | 370,700 | 3,794,809 | ||
NICE Systems Ltd., ADR (a) | 1,057,002 | 219,232,785 | ||
Paylocity Holding Corp. (a) | 689,792 | 132,860,837 | ||
Synopsys, Inc. (a) | 582,820 | 212,006,603 | ||
$1,389,822,768 | ||||
Computer Software - Systems – 2.7% | ||||
Constellation Software, Inc. | 123,551 | $212,437,094 | ||
ServiceNow, Inc. (a) | 301,701 | 130,386,121 | ||
$342,823,215 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Construction – 3.8% | ||||
AZEK Co., Inc. (a) | 3,131,534 | $75,438,654 | ||
Martin Marietta Materials, Inc. | 124,547 | 44,820,729 | ||
Pool Corp. | 246,231 | 87,869,995 | ||
Vulcan Materials Co. | 1,520,821 | 275,131,727 | ||
$483,261,105 | ||||
Consumer Products – 0.9% | ||||
Church & Dwight Co., Inc. | 1,453,443 | $121,769,455 | ||
Consumer Services – 1.4% | ||||
Bright Horizons Family Solutions, Inc. (a) | 2,241,710 | $176,736,416 | ||
Electrical Equipment – 4.5% | ||||
AMETEK, Inc. | 2,374,989 | $336,203,443 | ||
Hubbell, Inc. | 204,747 | 51,502,060 | ||
Littlefuse, Inc. | 450,137 | 116,463,946 | ||
Rockwell Automation, Inc. | 237,460 | 70,034,078 | ||
$574,203,527 | ||||
Electronics – 5.1% | ||||
ASM International N.V. | 416,512 | $142,295,953 | ||
Entegris, Inc. | 1,322,156 | 112,687,356 | ||
Monolithic Power Systems, Inc. | 832,047 | 402,952,042 | ||
$657,935,351 | ||||
Energy - Independent – 2.6% | ||||
Chesapeake Energy Corp. | 1,266,352 | $102,333,905 | ||
Diamondback Energy, Inc. | 800,498 | 112,534,009 | ||
Hess Corp. | 866,260 | 116,685,222 | ||
$331,553,136 | ||||
Energy - Renewables – 0.7% | ||||
Enphase Energy, Inc. (a) | 439,819 | $92,595,094 | ||
Engineering - Construction – 0.4% | ||||
Quanta Services, Inc. | 303,885 | $49,047,039 | ||
Gaming & Lodging – 2.4% | ||||
Hyatt Hotels Corp. (a) | 1,624,560 | $188,838,854 | ||
Red Rock Resorts, Inc. | 2,646,106 | 115,555,449 | ||
$304,394,303 | ||||
General Merchandise – 1.1% | ||||
Five Below, Inc. (a) | 686,590 | $140,270,337 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Insurance – 3.0% | ||||
Arthur J. Gallagher & Co. | 2,049,390 | $383,953,216 | ||
Internet – 2.2% | ||||
Gartner, Inc. (a) | 671,410 | $220,094,912 | ||
Match Group, Inc. (a) | 1,583,989 | 65,608,824 | ||
$285,703,736 | ||||
Leisure & Toys – 1.7% | ||||
Electronic Arts, Inc. | 398,646 | $44,225,787 | ||
Take-Two Interactive Software, Inc. (a) | 1,532,032 | 167,834,106 | ||
$212,059,893 | ||||
Machinery & Tools – 3.6% | ||||
IDEX Corp. | 1,031,456 | $232,056,971 | ||
Ingersoll Rand, Inc. | 1,165,763 | 67,695,857 | ||
Wabtec Corp. | 1,563,676 | 163,138,317 | ||
$462,891,145 | ||||
Medical & Health Technology & Services – 4.2% | ||||
Henry Schein, Inc. (a) | 1,410,809 | $110,480,453 | ||
ICON PLC (a) | 1,141,554 | 257,568,829 | ||
IDEXX Laboratories, Inc. (a) | 243,989 | 115,465,354 | ||
Veeva Systems, Inc. (a) | 330,792 | 54,799,003 | ||
$538,313,639 | ||||
Medical Equipment – 10.6% | ||||
Agilent Technologies, Inc. | 1,713,918 | $243,324,938 | ||
Bio-Techne Corp. | 530,578 | 38,541,186 | ||
Bruker BioSciences Corp. | 2,170,348 | 149,580,384 | ||
Envista Holdings Corp. (a) | 3,982,048 | 153,945,976 | ||
Maravai Lifesciences Holdings, Inc., “A” (a) | 916,345 | 13,516,089 | ||
Mettler-Toledo International, Inc. (a) | 85,648 | 122,794,394 | ||
PerkinElmer, Inc. | 1,299,623 | 161,894,037 | ||
Repligen Corp. (a) | 210,332 | 36,675,591 | ||
STERIS PLC | 1,535,705 | 288,758,611 | ||
Waters Corp. (a) | 452,484 | 140,672,751 | ||
$1,349,703,957 | ||||
Other Banks & Diversified Financials – 0.2% | ||||
S&P Global, Inc. | 68,489 | $23,368,447 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Pharmaceuticals – 2.2% | ||||
Alnylam Pharmaceuticals, Inc. (a) | 596,421 | $114,184,800 | ||
Ascendis Pharma, ADR (a) | 1,092,061 | 121,317,057 | ||
Legend Biotech Corp., ADR (a) | 907,623 | 41,914,030 | ||
$277,415,887 | ||||
Pollution Control – 1.3% | ||||
Waste Connections, Inc. | 1,267,239 | $169,708,647 | ||
Printing & Publishing – 2.5% | ||||
Warner Music Group Corp. | 2,043,334 | $64,487,621 | ||
Wolters Kluwer N.V. | 2,239,643 | 259,272,868 | ||
$323,760,489 | ||||
Railroad & Shipping – 0.2% | ||||
Canadian Pacific Railway Ltd. | 290,201 | $22,037,864 | ||
Real Estate – 1.1% | ||||
Extra Space Storage, Inc., REIT | 819,167 | $134,875,847 | ||
Restaurants – 1.2% | ||||
Chipotle Mexican Grill, Inc., “A” (a) | 98,604 | $147,026,452 | ||
Domino's Pizza, Inc. | 40,160 | 11,807,442 | ||
$158,833,894 | ||||
Specialty Stores – 7.3% | ||||
Burlington Stores, Inc. (a) | 415,233 | $88,963,670 | ||
Lululemon Athletica, Inc. (a) | 431,940 | 133,555,848 | ||
O'Reilly Automotive, Inc. (a) | 342,407 | 284,232,051 | ||
Tractor Supply Co. | 735,632 | 171,593,520 | ||
Ulta Beauty, Inc. (a) | 496,007 | 257,328,432 | ||
$935,673,521 | ||||
Telecommunications - Wireless – 1.0% | ||||
SBA Communications Corp., REIT | 505,724 | $131,159,519 | ||
Total Common Stocks (Identified Cost, $9,426,515,673) | $12,498,982,528 | |||
Investment Companies (h) – 2.2% | ||||
Money Market Funds – 2.2% | ||||
MFS Institutional Money Market Portfolio, 4.55% (v) (Identified Cost, $277,575,019) | 277,580,084 | $277,580,084 | ||
Other Assets, Less Liabilities – 0.1% | 14,166,036 | |||
Net Assets – 100.0% | $12,790,728,648 |
(a) | Non-income producing security. |
(h) | An affiliated issuer, which may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated issuers and in unaffiliated issuers were $277,580,084 and $12,498,982,528, respectively. | |||
(v) | Affiliated issuer that is available only to investment companies managed by MFS. The rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end. |
The following abbreviations are used in this report and are defined: | |
ADR | American Depositary Receipt |
REIT | Real Estate Investment Trust |
Assets | |
Investments in unaffiliated issuers, at value (identified cost, $9,426,515,673) | $12,498,982,528 |
Investments in affiliated issuers, at value (identified cost, $277,575,019) | 277,580,084 |
Receivables for | |
Investments sold | 57,670,100 |
Fund shares sold | 12,748,050 |
Dividends | 4,524,714 |
Other assets | 61,431 |
Total assets | $12,851,566,907 |
Liabilities | |
Payable to custodian | $675 |
Payables for | |
Investments purchased | 47,918,423 |
Fund shares reacquired | 10,143,669 |
Payable to affiliates | |
Investment adviser | 440,364 |
Administrative services fee | 3,537 |
Shareholder servicing costs | 1,702,438 |
Distribution and service fees | 33,379 |
Payable for independent Trustees' compensation | 18,700 |
Accrued expenses and other liabilities | 577,074 |
Total liabilities | $60,838,259 |
Net assets | $12,790,728,648 |
Net assets consist of | |
Paid-in capital | $10,110,053,950 |
Total distributable earnings (loss) | 2,680,674,698 |
Net assets | $12,790,728,648 |
Shares of beneficial interest outstanding | 520,022,857 |
Net assets | Shares outstanding | Net asset value per share (a) | |
Class A | $1,476,421,777 | 63,960,720 | $23.08 |
Class B | 8,762,474 | 484,276 | 18.09 |
Class C | 76,987,023 | 4,402,411 | 17.49 |
Class I | 3,996,809,362 | 160,786,501 | 24.86 |
Class R1 | 3,157,056 | 175,417 | 18.00 |
Class R2 | 21,260,879 | 993,754 | 21.39 |
Class R3 | 565,946,161 | 24,684,233 | 22.93 |
Class R4 | 260,916,050 | 10,762,973 | 24.24 |
Class R6 | 6,380,467,866 | 253,772,572 | 25.14 |
(a) | Maximum offering price per share was equal to the net asset value per share for all share classes, except for Class A, for which the maximum offering price per share was $24.49 [100 / 94.25 x $23.08]. On sales of $50,000 or more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions of Class A, Class B, and Class C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and R6. |
Net investment income (loss) | |
Income | |
Dividends | $39,359,362 |
Dividends from affiliated issuers | 5,393,774 |
Other | 183,489 |
Income on securities loaned | 1,695 |
Foreign taxes withheld | (158,490) |
Total investment income | $44,779,830 |
Expenses | |
Management fee | $40,481,000 |
Distribution and service fees | 2,994,268 |
Shareholder servicing costs | 4,290,767 |
Administrative services fee | 316,702 |
Independent Trustees' compensation | 60,841 |
Custodian fee | 198,246 |
Shareholder communications | 384,476 |
Audit and tax fees | 33,369 |
Legal fees | 30,330 |
Miscellaneous | 364,229 |
Total expenses | $49,154,228 |
Fees paid indirectly | (4,304) |
Reduction of expenses by investment adviser and distributor | (842,330) |
Net expenses | $48,307,594 |
Net investment income (loss) | $(3,527,764) |
Realized and unrealized gain (loss) | |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers | $(325,316,527) |
Affiliated issuers | (10,470) |
Foreign currency | 26,967 |
Net realized gain (loss) | $(325,300,030) |
Change in unrealized appreciation or depreciation | |
Unaffiliated issuers | $633,458,221 |
Affiliated issuers | 7,277 |
Translation of assets and liabilities in foreign currencies | 7,665 |
Net unrealized gain (loss) | $633,473,163 |
Net realized and unrealized gain (loss) | $308,173,133 |
Change in net assets from operations | $304,645,369 |
Six months ended | Year ended | |
2/28/23 (unaudited) | 8/31/22 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $(3,527,764) | $(41,117,061) |
Net realized gain (loss) | (325,300,030) | 57,533,222 |
Net unrealized gain (loss) | 633,473,163 | (4,448,543,700) |
Change in net assets from operations | $304,645,369 | $(4,432,127,539) |
Total distributions to shareholders | $— | $(537,250,947) |
Change in net assets from fund share transactions | $(715,088,743) | $2,159,735,658 |
Total change in net assets | $(410,443,374) | $(2,809,642,828) |
Net assets | ||
At beginning of period | 13,201,172,022 | 16,010,814,850 |
At end of period | $12,790,728,648 | $13,201,172,022 |
Class A | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $22.55 | $31.84 | $24.65 | $20.19 | $19.16 | $16.34 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.04) | $(0.15) | $(0.18) | $(0.07) | $(0.07) | $(0.09) |
Net realized and unrealized gain (loss) | 0.57 | (8.02) | 7.60 | 4.71 | 1.83 | 4.32 |
Total from investment operations | $0.53 | $(8.17) | $7.42 | $4.64 | $1.76 | $4.23 |
Less distributions declared to shareholders | ||||||
From net realized gain | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) | $(1.41) |
Net asset value, end of period (x) | $23.08 | $22.55 | $31.84 | $24.65 | $20.19 | $19.16 |
Total return (%) (r)(s)(t)(x) | 2.35(n) | (26.53) | 30.30 | 23.16 | 10.13 | 27.69 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 1.04(a) | 1.03 | 1.01 | 1.05 | 1.10 | 1.17 |
Expenses after expense reductions (f) | 1.03(a) | 1.01 | 1.00 | 1.04 | 1.09 | 1.16 |
Net investment income (loss) | (0.32)(a) | (0.54) | (0.65) | (0.35) | (0.36) | (0.55) |
Portfolio turnover | 11(n) | 21 | 23 | 34 | 21 | 33 |
Net assets at end of period (000 omitted) | $1,476,422 | $1,477,097 | $2,130,372 | $1,483,320 | $1,065,566 | $824,847 |
Class B | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $17.75 | $25.48 | $19.91 | $16.47 | $15.90 | $13.88 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.09) | $(0.28) | $(0.31) | $(0.19) | $(0.17) | $(0.19) |
Net realized and unrealized gain (loss) | 0.43(g) | (6.33)(g) | 6.11 | 3.81 | 1.47 | 3.62 |
Total from investment operations | $0.34 | $(6.61) | $5.80 | $3.62 | $1.30 | $3.43 |
Less distributions declared to shareholders | ||||||
From net realized gain | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) | $(1.41) |
Net asset value, end of period (x) | $18.09 | $17.75 | $25.48 | $19.91 | $16.47 | $15.90 |
Total return (%) (r)(s)(t)(x) | 1.92(n) | (27.05) | 29.36 | 22.20 | 9.28 | 26.77 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 1.79(a) | 1.78 | 1.76 | 1.80 | 1.85 | 1.92 |
Expenses after expense reductions (f) | 1.78(a) | 1.76 | 1.75 | 1.79 | 1.84 | 1.91 |
Net investment income (loss) | (1.07)(a) | (1.30) | (1.39) | (1.10) | (1.12) | (1.30) |
Portfolio turnover | 11(n) | 21 | 23 | 34 | 21 | 33 |
Net assets at end of period (000 omitted) | $8,762 | $10,002 | $18,021 | $17,725 | $18,581 | $19,329 |
Class C | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $17.15 | $24.66 | $19.28 | $15.95 | $15.42 | $13.50 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.09) | $(0.27) | $(0.30) | $(0.18) | $(0.16) | $(0.18) |
Net realized and unrealized gain (loss) | 0.43(g) | (6.12)(g) | 5.91(g) | 3.69 | 1.42 | 3.51 |
Total from investment operations | $0.34 | $(6.39) | $5.61 | $3.51 | $1.26 | $3.33 |
Less distributions declared to shareholders | ||||||
From net realized gain | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) | $(1.41) |
Net asset value, end of period (x) | $17.49 | $17.15 | $24.66 | $19.28 | $15.95 | $15.42 |
Total return (%) (r)(s)(t)(x) | 1.98(n) | (27.06) | 29.34 | 22.23 | 9.31 | 26.77 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 1.79(a) | 1.78 | 1.76 | 1.80 | 1.85 | 1.92 |
Expenses after expense reductions (f) | 1.78(a) | 1.76 | 1.75 | 1.79 | 1.84 | 1.91 |
Net investment income (loss) | (1.07)(a) | (1.30) | (1.40) | (1.10) | (1.11) | (1.30) |
Portfolio turnover | 11(n) | 21 | 23 | 34 | 21 | 33 |
Net assets at end of period (000 omitted) | $76,987 | $85,842 | $137,007 | $109,521 | $78,858 | $54,080 |
Class I | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $24.26 | $34.07 | $26.30 | $21.48 | $20.28 | $17.17 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.01) | $(0.08) | $(0.12) | $(0.02) | $(0.02) | $(0.06) |
Net realized and unrealized gain (loss) | 0.61 | (8.61) | 8.12 | 5.02 | 1.95 | 4.58 |
Total from investment operations | $0.60 | $(8.69) | $8.00 | $5.00 | $1.93 | $4.52 |
Less distributions declared to shareholders | ||||||
From net realized gain | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) | $(1.41) |
Net asset value, end of period (x) | $24.86 | $24.26 | $34.07 | $26.30 | $21.48 | $20.28 |
Total return (%) (r)(s)(t)(x) | 2.47(n) | (26.32) | 30.60 | 23.45 | 10.42 | 28.05 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 0.79(a) | 0.78 | 0.76 | 0.80 | 0.84 | 0.92 |
Expenses after expense reductions (f) | 0.78(a) | 0.77 | 0.75 | 0.79 | 0.83 | 0.91 |
Net investment income (loss) | (0.07)(a) | (0.28) | (0.40) | (0.10) | (0.09) | (0.30) |
Portfolio turnover | 11(n) | 21 | 23 | 34 | 21 | 33 |
Net assets at end of period (000 omitted) | $3,996,809 | $4,344,475 | $4,444,325 | $3,837,781 | $1,330,368 | $332,008 |
Class R1 | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $17.65 | $25.35 | $19.81 | $16.39 | $15.82 | $13.82 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.09) | $(0.28) | $(0.31) | $(0.18) | $(0.17) | $(0.19) |
Net realized and unrealized gain (loss) | 0.44(g) | (6.30)(g) | 6.08 | 3.78 | 1.47 | 3.60 |
Total from investment operations | $0.35 | $(6.58) | $5.77 | $3.60 | $1.30 | $3.41 |
Less distributions declared to shareholders | ||||||
From net realized gain | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) | $(1.41) |
Net asset value, end of period (x) | $18.00 | $17.65 | $25.35 | $19.81 | $16.39 | $15.82 |
Total return (%) (r)(s)(t)(x) | 1.98(n) | (27.07) | 29.36 | 22.18 | 9.33 | 26.73 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 1.79(a) | 1.78 | 1.76 | 1.80 | 1.85 | 1.92 |
Expenses after expense reductions (f) | 1.78(a) | 1.76 | 1.75 | 1.79 | 1.84 | 1.91 |
Net investment income (loss) | (1.07)(a) | (1.30) | (1.39) | (1.09) | (1.12) | (1.30) |
Portfolio turnover | 11(n) | 21 | 23 | 34 | 21 | 33 |
Net assets at end of period (000 omitted) | $3,157 | $3,040 | $5,281 | $4,187 | $3,472 | $2,827 |
Class R2 | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $20.93 | $29.70 | $23.06 | $18.95 | $18.08 | $15.53 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.06) | $(0.20) | $(0.24) | $(0.12) | $(0.11) | $(0.13) |
Net realized and unrealized gain (loss) | 0.52 | (7.45) | 7.11 | 4.41 | 1.71 | 4.09 |
Total from investment operations | $0.46 | $(7.65) | $6.87 | $4.29 | $1.60 | $3.96 |
Less distributions declared to shareholders | ||||||
From net realized gain | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) | $(1.41) |
Net asset value, end of period (x) | $21.39 | $20.93 | $29.70 | $23.06 | $18.95 | $18.08 |
Total return (%) (r)(s)(t)(x) | 2.20(n) | (26.70) | 30.00 | 22.83 | 9.84 | 27.37 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 1.29(a) | 1.28 | 1.26 | 1.30 | 1.35 | 1.42 |
Expenses after expense reductions (f) | 1.28(a) | 1.27 | 1.25 | 1.29 | 1.34 | 1.41 |
Net investment income (loss) | (0.57)(a) | (0.79) | (0.90) | (0.60) | (0.61) | (0.80) |
Portfolio turnover | 11(n) | 21 | 23 | 34 | 21 | 33 |
Net assets at end of period (000 omitted) | $21,261 | $21,633 | $29,120 | $15,176 | $11,060 | $9,069 |
Class R3 | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $22.40 | $31.63 | $24.49 | $20.06 | $19.04 | $16.24 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.04) | $(0.14) | $(0.18) | $(0.07) | $(0.06) | $(0.09) |
Net realized and unrealized gain (loss) | 0.57 | (7.97) | 7.55 | 4.68 | 1.81 | 4.30 |
Total from investment operations | $0.53 | $(8.11) | $7.37 | $4.61 | $1.75 | $4.21 |
Less distributions declared to shareholders | ||||||
From net realized gain | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) | $(1.41) |
Net asset value, end of period (x) | $22.93 | $22.40 | $31.63 | $24.49 | $20.06 | $19.04 |
Total return (%) (r)(s)(t)(x) | 2.37(n) | (26.52) | 30.29 | 23.16 | 10.14 | 27.73 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 1.04(a) | 1.03 | 1.01 | 1.05 | 1.09 | 1.17 |
Expenses after expense reductions (f) | 1.03(a) | 1.01 | 1.00 | 1.04 | 1.09 | 1.16 |
Net investment income (loss) | (0.32)(a) | (0.54) | (0.65) | (0.35) | (0.34) | (0.55) |
Portfolio turnover | 11(n) | 21 | 23 | 34 | 21 | 33 |
Net assets at end of period (000 omitted) | $565,946 | $557,897 | $777,474 | $451,972 | $239,505 | $95,010 |
Class R4 | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $23.66 | $33.25 | $25.67 | $20.97 | $19.82 | $16.82 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $(0.01) | $(0.08) | $(0.12) | $(0.02) | $(0.02) | $(0.05) |
Net realized and unrealized gain (loss) | 0.59 | (8.39) | 7.93 | 4.90 | 1.90 | 4.46 |
Total from investment operations | $0.58 | $(8.47) | $7.81 | $4.88 | $1.88 | $4.41 |
Less distributions declared to shareholders | ||||||
From net realized gain | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) | $(1.41) |
Net asset value, end of period (x) | $24.24 | $23.66 | $33.25 | $25.67 | $20.97 | $19.82 |
Total return (%) (r)(s)(t)(x) | 2.45(n) | (26.30) | 30.61 | 23.45 | 10.40 | 27.98 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 0.79(a) | 0.78 | 0.76 | 0.80 | 0.84 | 0.92 |
Expenses after expense reductions (f) | 0.78(a) | 0.76 | 0.75 | 0.79 | 0.83 | 0.91 |
Net investment income (loss) | (0.06)(a) | (0.29) | (0.40) | (0.10) | (0.08) | (0.30) |
Portfolio turnover | 11(n) | 21 | 23 | 34 | 21 | 33 |
Net assets at end of period (000 omitted) | $260,916 | $300,198 | $389,323 | $242,937 | $173,441 | $54,141 |
Class R6 | Six months ended | Year ended | ||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $24.52 | $34.39 | $26.51 | $21.63 | $20.40 | $17.25 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.01 | $(0.05) | $(0.09) | $(0.00)(w) | $(0.00)(w) | $(0.04) |
Net realized and unrealized gain (loss) | 0.61 | (8.70) | 8.20 | 5.06 | 1.96 | 4.60 |
Total from investment operations | $0.62 | $(8.75) | $8.11 | $5.06 | $1.96 | $4.56 |
Less distributions declared to shareholders | ||||||
From net realized gain | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) | $(1.41) |
Net asset value, end of period (x) | $25.14 | $24.52 | $34.39 | $26.51 | $21.63 | $20.40 |
Total return (%) (r)(s)(t)(x) | 2.53(n) | (26.24) | 30.78 | 23.57 | 10.51 | 28.17 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 0.67(a) | 0.66 | 0.66 | 0.70 | 0.75 | 0.81 |
Expenses after expense reductions (f) | 0.66(a) | 0.65 | 0.65 | 0.69 | 0.74 | 0.81 |
Net investment income (loss) | 0.05(a) | (0.18) | (0.30) | (0.01) | (0.01) | (0.19) |
Portfolio turnover | 11(n) | 21 | 23 | 34 | 21 | 33 |
Net assets at end of period (000 omitted) | $6,380,468 | $6,400,990 | $8,056,150 | $5,343,295 | $3,053,325 | $2,013,624 |
(a) | Annualized. |
(d) | Per share data is based on average shares outstanding. |
(f) | Ratios do not reflect reductions from fees paid indirectly, if applicable. See Note 2 in the Notes to Financial Statements for additional information. |
(g) | The per share amount varies from the net realized and unrealized gain/loss for the period because of the timing of sales of fund shares and the per share amount of realized and unrealized gains and losses at such time. |
(n) | Not annualized. |
(r) | Certain expenses have been reduced without which performance would have been lower. |
(s) | From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower. |
(t) | Total returns do not include any applicable sales charges. |
(w) | Per share amount was less than $0.01. |
(x) | The net asset values and total returns have been calculated on net assets which include adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes. |
Financial Instruments | Level 1 | Level 2 | Level 3 | Total |
Equity Securities: | ||||
United States | $11,285,159,167 | $— | $— | $11,285,159,167 |
Canada | 404,183,605 | 3,794,809 | — | 407,978,414 |
Netherlands | 401,568,821 | — | — | 401,568,821 |
Israel | 219,232,785 | — | — | 219,232,785 |
Denmark | 121,317,057 | — | — | 121,317,057 |
China | 41,914,030 | — | — | 41,914,030 |
United Kingdom | 21,812,254 | — | — | 21,812,254 |
Mutual Funds | 277,580,084 | — | — | 277,580,084 |
Total | $12,772,767,803 | $3,794,809 | $— | $12,776,562,612 |
Year ended 8/31/22 | |
Long-term capital gains | $537,250,947 |
As of 2/28/23 | |
Cost of investments | $9,736,143,316 |
Gross appreciation | 3,503,357,461 |
Gross depreciation | (462,938,165) |
Net unrealized appreciation (depreciation) | $3,040,419,296 |
As of 8/31/22 | |
Post-October capital loss deferral | (1,945,339) |
Late year ordinary loss deferral | (28,954,607) |
Other temporary differences | (24,523) |
Net unrealized appreciation (depreciation) | 2,406,953,798 |
Six months ended 2/28/23 | Year ended 8/31/22 | |
Class A | $— | $73,067,955 |
Class B | — | 748,546 |
Class C | — | 6,177,797 |
Class I | — | 148,116,466 |
Class R1 | — | 213,962 |
Class R2 | — | 1,067,690 |
Class R3 | — | 27,531,600 |
Class R4 | — | 13,409,624 |
Class R6 | — | 266,032,167 |
Class 529A | — | 775,541 |
Class 529B | — | 20,577 |
Class 529C | — | 89,022 |
Total | $— | $537,250,947 |
Up to $1 billion | 0.75% |
In excess of $1 billion and up to $2.5 billion | 0.70% |
In excess of $2.5 billion and up to $5 billion | 0.65% |
In excess of $5 billion and up to $10 billion | 0.62% |
In excess of $10 billion and up to $20 billion | 0.60% |
In excess of $20 billion | 0.55% |
Classes | ||||||||
A | B | C | I | R1 | R2 | R3 | R4 | R6 |
1.30% | 2.05% | 2.05% | 1.05% | 2.05% | 1.55% | 1.30% | 1.05% | 0.95% |
Distribution Fee Rate (d) | Service Fee Rate (d) | Total Distribution Plan (d) | Annual Effective Rate (e) | Distribution and Service Fee | |
Class A | — | 0.25% | 0.25% | 0.25% | $ 1,793,830 |
Class B | 0.75% | 0.25% | 1.00% | 1.00% | 45,607 |
Class C | 0.75% | 0.25% | 1.00% | 1.00% | 399,963 |
Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 15,055 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 52,958 |
Class R3 | — | 0.25% | 0.25% | 0.25% | 686,855 |
Total Distribution and Service Fees | $2,994,268 |
(d) | In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each class’s average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting period. Any rate changes, if applicable, are detailed below. |
(e) | The annual effective rates represent actual fees incurred under the distribution plan for the six months ended February 28, 2023 based on each class's average daily net assets. MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. For the six months ended February 28, 2023, this rebate amounted to $239 and $1 for Class A and Class B shares, respectively, and is included in the reduction of total expenses in the Statement of Operations. |
Amount | |
Class A | $13,211 |
Class B | 1,851 |
Class C | 2,524 |
Six months ended 2/28/23 | Year ended 8/31/22 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | |||||
Class A | 3,591,577 | $80,816,276 | 9,868,708 | $265,315,267 | |
Class B | 1,045 | 18,081 | 14,516 | 307,178 | |
Class C | 184,078 | 3,127,056 | 534,315 | 11,139,743 | |
Class I | 19,659,722 | 473,609,674 | 89,719,506 | 2,507,689,230 | |
Class R1 | 13,173 | 230,476 | 49,304 | 944,614 | |
Class R2 | 104,240 | 2,191,645 | 283,121 | 6,705,228 | |
Class R3 | 1,901,615 | 41,942,020 | 5,565,877 | 152,192,681 | |
Class R4 | 680,284 | 15,992,764 | 3,417,403 | 98,438,861 | |
Class R6 | 19,576,764 | 473,224,009 | 62,579,666 | 1,796,018,041 | |
Class 529A | — | — | 148,939 | 3,902,308 | |
Class 529C | — | — | 3,364 | 72,642 | |
45,712,498 | $1,091,152,001 | 172,184,719 | $4,842,725,793 | ||
Shares issued to shareholders in reinvestment of distributions | |||||
Class A | — | $— | 2,229,393 | $67,126,982 | |
Class B | — | — | 31,222 | 743,772 | |
Class C | — | — | 262,437 | 6,041,311 | |
Class I | — | — | 4,428,656 | 143,178,436 | |
Class R1 | — | — | 9,032 | 213,962 | |
Class R2 | — | — | 37,904 | 1,060,935 | |
Class R3 | — | — | 920,481 | 27,531,600 | |
Class R4 | — | — | 420,915 | 13,271,465 | |
Class R6 | — | — | 7,829,985 | 255,649,000 | |
Class 529A | — | — | 25,016 | 728,457 | |
Class 529B | — | — | 882 | 20,577 | |
Class 529C | — | — | 3,783 | 84,504 | |
— | $— | 16,199,706 | $515,651,001 |
Six months ended 2/28/23 | Year ended 8/31/22 | ||||
Shares | Amount | Shares | Amount | ||
Shares reacquired | |||||
Class A | (5,122,355) | $(114,340,134) | (13,524,270) | $(365,851,473) | |
Class B | (80,412) | (1,403,395) | (189,482) | (3,953,877) | |
Class C | (786,936) | (13,415,849) | (1,347,145) | (26,777,702) | |
Class I | (37,968,087) | (917,364,761) | (45,501,419) | (1,269,169,583) | |
Class R1 | (9,972) | (173,467) | (94,474) | (1,950,615) | |
Class R2 | (144,058) | (3,015,463) | (267,999) | (6,609,163) | |
Class R3 | (2,121,473) | (47,156,400) | (6,163,771) | (165,731,977) | |
Class R4 | (2,606,989) | (59,896,276) | (2,855,925) | (83,173,120) | |
Class R6 | (26,849,247) | (649,474,999) | (43,636,874) | (1,254,373,862) | |
Class 529A | — | — | (865,908) | (18,927,325) | |
Class 529B | — | — | (19,553) | (397,842) | |
Class 529C | — | — | (88,278) | (1,724,597) | |
(75,689,529) | $(1,806,240,744) | (114,555,098) | $(3,198,641,136) | ||
Net change | |||||
Class A | (1,530,778) | $(33,523,858) | (1,426,169) | $(33,409,224) | |
Class B | (79,367) | (1,385,314) | (143,744) | (2,902,927) | |
Class C | (602,858) | (10,288,793) | (550,393) | (9,596,648) | |
Class I | (18,308,365) | (443,755,087) | 48,646,743 | 1,381,698,083 | |
Class R1 | 3,201 | 57,009 | (36,138) | (792,039) | |
Class R2 | (39,818) | (823,818) | 53,026 | 1,157,000 | |
Class R3 | (219,858) | (5,214,380) | 322,587 | 13,992,304 | |
Class R4 | (1,926,705) | (43,903,512) | 982,393 | 28,537,206 | |
Class R6 | (7,272,483) | (176,250,990) | 26,772,777 | 797,293,179 | |
Class 529A | — | — | (691,953) | (14,296,560) | |
Class 529B | — | — | (18,671) | (377,265) | |
Class 529C | — | — | (81,131) | (1,567,451) | |
(29,977,031) | $(715,088,743) | 73,829,327 | $2,159,735,658 |
Affiliated Issuers | Beginning Value | Purchases | Sales Proceeds | Realized Gain (Loss) | Change in Unrealized Appreciation or Depreciation | Ending Value |
MFS Institutional Money Market Portfolio | $457,382,967 | $648,946,041 | $828,745,731 | $(10,470) | $7,277 | $277,580,084 |
Affiliated Issuers | Dividend Income | Capital Gain Distributions |
MFS Institutional Money Market Portfolio | $5,393,774 | $— |
Money Market Fund
Money Market Fund
1 | |
2 | |
3 | |
4 | |
5 | |
6 | |
7 | |
8 | |
9 | |
15 | |
15 | |
15 | |
15 | |
15 |
back cover |
0 - 7 days | 61.3% |
8 - 29 days | 38.9% |
30 - 59 days | 0.0% |
60 - 89 days | 0.0% |
Other Assets Less Liabilities | (0.2)% |
A-1+ | 54.1% |
A-1 | 46.1% |
Other Assets Less Liabilities | (0.2)% |
(a) | Ratings are assigned to portfolio securities utilizing ratings from Moody’s, Fitch, and Standard & Poor’s rating agencies and applying the following hierarchy: If all three agencies provide a rating, the middle rating (after dropping the highest and lowest ratings) is assigned; if two of the three agencies rate a security, the lower of the two is assigned. Ratings are shown in the S&P scale. All ratings are subject to change. The fund did not hold unrated securities. The fund is not rated by these agencies. |
(u) | For purposes of this presentation, accrued interest, where applicable, is included. |
September 1, 2022 through February 28, 2023
Annualized Expense Ratio | Beginning Account Value 9/01/22 | Ending Account Value 2/28/23 | Expenses Paid During Period (p) 9/01/22-2/28/23 | |
Actual | 0.45% | $1,000.00 | $1,015.47 | $2.25 |
Hypothetical (h) | 0.45% | $1,000.00 | $1,022.56 | $2.26 |
(h) | 5% fund return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to the fund's annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
U.S. Government Agencies and Equivalents (y) – 83.0% | ||||
Fannie Mae, 4.43%, due 3/07/2023 | $32,500,000 | $32,476,438 | ||
Federal Farm Credit Bank, 4.55%, due 3/01/2023 | 28,750,000 | 28,750,000 | ||
Federal Home Loan Bank, 4.5%, due 3/01/2023 | 32,500,000 | 32,500,000 | ||
Freddie Mac, 4.39%, due 3/06/2023 | 32,500,000 | 32,480,545 | ||
U.S. Treasury Bill, 4.56%, due 3/02/2023 | 48,333,000 | 48,327,089 | ||
U.S. Treasury Bill, 4.48%, due 3/07/2023 | 18,000,000 | 17,986,553 | ||
U.S. Treasury Bill, 4.54%, due 3/09/2023 | 18,000,000 | 17,982,070 | ||
U.S. Treasury Bill, 4.55%, due 3/14/2023 | 27,500,000 | 27,455,556 | ||
U.S. Treasury Bill, 4.56%, due 3/16/2023 | 38,000,000 | 37,929,383 | ||
U.S. Treasury Bill, 4.58%, due 3/21/2023 | 28,500,000 | 28,428,726 | ||
U.S. Treasury Bill, 4.54%, due 3/23/2023 | 20,500,000 | 20,444,251 | ||
U.S. Treasury Bill, 4.61%, due 3/28/2023 | 37,873,000 | 37,744,185 | ||
Total U.S. Government Agencies and Equivalents, at Amortized Cost and Value | $362,504,796 | |||
Repurchase Agreements – 17.2% | ||||
Bank of America Corp. Repurchase Agreement, 4.51%, dated 2/28/2023, due 3/01/2023, total to be received $37,442,690 (secured by U.S. Treasury and/or U.S. Government Agency Securities valued at $38,554,800) | $37,438,000 | $37,438,000 | ||
JPMorgan Chase & Co. Repurchase Agreement, 4.51%, dated 2/28/2023, due 3/01/2023, total to be received $37,523,700 (secured by U.S. Treasury and/or U.S. Government Agency Securities valued at $38,274,248) | 37,519,000 | 37,519,000 | ||
Total Repurchase Agreements, at Cost and Value | $74,957,000 | |||
Other Assets, Less Liabilities – (0.2)% | (713,525) | |||
Net Assets – 100.0% | $436,748,271 |
(y) | The rate shown represents an annualized yield at time of purchase. |
Assets | |
Investments in unaffiliated issuers, at cost and value | $362,504,796 |
Investments in unaffiliated repurchase agreements, at cost and value | 74,957,000 |
Cash | 908 |
Receivables for | |
Fund shares sold | 991,388 |
Interest | 9,391 |
Receivable from investment adviser and distributor | 35,361 |
Other assets | 14,251 |
Total assets | $438,513,095 |
Liabilities | |
Payables for | |
Distributions | $2,334 |
Fund shares reacquired | 1,651,078 |
Payable to affiliates | |
Administrative services fee | 412 |
Shareholder servicing costs | 74,494 |
Payable for independent Trustees' compensation | 2,441 |
Accrued expenses and other liabilities | 34,065 |
Total liabilities | $1,764,824 |
Net assets | $436,748,271 |
Net assets consist of | |
Paid-in capital | $436,756,761 |
Total distributable earnings (loss) | (8,490) |
Net assets | $436,748,271 |
Shares of beneficial interest outstanding | 436,754,846 |
Net asset value per share (net assets of $436,748,271 / 436,754,846 shares of beneficial interest outstanding) | $1.00 |
Net investment income (loss) | |
Income | |
Interest | $8,300,063 |
Other | 8,749 |
Total investment income | $8,308,812 |
Expenses | |
Management fee | $937,623 |
Shareholder servicing costs | 234,230 |
Administrative services fee | 39,676 |
Independent Trustees' compensation | 5,525 |
Custodian fee | 10,579 |
Shareholder communications | 7,050 |
Audit and tax fees | 23,034 |
Legal fees | 1,069 |
Miscellaneous | 56,690 |
Total expenses | $1,315,476 |
Fees paid indirectly | (10,579) |
Reduction of expenses by investment adviser | (259,536) |
Net expenses | $1,045,361 |
Net investment income (loss) | $7,263,451 |
Change in net assets from operations | $7,263,451 |
Six months ended | Year ended | |
2/28/23 (unaudited) | 8/31/22 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $7,263,451 | $1,244,698 |
Net realized gain (loss) | — | (5,979) |
Change in net assets from operations | $7,263,451 | $1,238,719 |
Total distributions to shareholders | $(7,263,451) | $(1,285,595) |
Change in net assets from fund share transactions | $(27,607,076) | $120,193,159 |
Total change in net assets | $(27,607,076) | $120,146,283 |
Net assets | ||
At beginning of period | 464,355,347 | 344,209,064 |
At end of period | $436,748,271 | $464,355,347 |
Six months ended | Year ended | |||||
2/28/23 (unaudited) | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | 8/31/18 | |
Net asset value, beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.02 | $0.00(w) | $0.00 | $0.00(w) | $0.02 | $0.01 |
Net realized and unrealized gain (loss) | — | (0.00)(w) | 0.00(w) | 0.01 | 0.00(w) | — |
Total from investment operations | $0.02 | $0.00(w) | $0.00(w) | $0.01 | $0.02 | $0.01 |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.02) | $(0.00)(w) | $— | $(0.01) | $(0.02) | $(0.01) |
From net realized gain | — | (0.00)(w) | — | — | — | — |
Total distributions declared to shareholders | $(0.02) | $(0.00)(w) | $— | $(0.01) | $(0.02) | $(0.01) |
Contribution from adviser | $— | $— | $— | $— | $— | $(0.00)(w) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return (%) (r)(t) | 1.55(n) | 0.27 | 0.00 | 0.61 | 1.70 | 0.83 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 0.56(a) | 0.59 | 0.55 | 0.60 | 0.62 | 0.63 |
Expenses after expense reductions (f) | 0.45(a) | 0.23 | 0.06 | 0.36 | 0.61 | 0.62 |
Net investment income (loss) | 3.10(a) | 0.31 | 0.00 | 0.45 | 1.69 | 0.81 |
Net assets at end of period (000 omitted) | $436,748 | $464,355 | $344,209 | $518,651 | $303,799 | $264,370 |
(a) | Annualized. |
(d) | Per share data is based on average shares outstanding. |
(f) | Ratios do not reflect reductions from fees paid indirectly, if applicable. See Note 2 in the Notes to Financial Statements for additional information. |
(n) | Not annualized. |
(r) | Certain expenses have been reduced without which performance would have been lower. |
(t) | Total returns do not include any applicable sales charges. |
(w) | Per share amount was less than $0.01. |
Financial Instruments | Level 1 | Level 2 | Level 3 | Total |
Short-Term Securities | $— | $437,461,796 | $— | $437,461,796 |
Year ended 8/31/22 | |
Ordinary income (including any short-term capital gains) | $1,285,595 |
As of 2/28/23 | |
Cost of investments | $437,461,796 |
As of 8/31/22 | |
Capital loss carryforwards | (5,979) |
Other temporary differences | (2,511) |
Short-Term | $(5,979) |
Up to $1 billion | 0.40% |
In excess of $1 billion | 0.35% |
Six months ended 2/28/23 | Year ended 8/31/22 | ||
Shares sold | 168,036,800 | 379,490,959 | |
Shares issued to shareholders in reinvestment of distributions | 7,236,470 | 1,279,610 | |
Shares reacquired | (202,880,346) | (260,577,410) | |
Net change | (27,607,076) | 120,193,159 |
Item 1(b):
Not applicable.
ITEM 2. CODE OF ETHICS.
During the period covered by this report, the Registrant has not amended any provision in its Code of Ethics (the "Code") that relates to an element of the Code's definition enumerated in paragraph (b) of Item 2 of this Form N-CSR. During the period covered by this report, the Registrant did not grant a waiver, including an implicit waiver, from any provision of the Code.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Not applicable for semi-annual reports.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
Not applicable for semi-annual reports.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
Not applicable to the Registrant.
ITEM 6. INVESTMENTS
A schedule of investments for each series covered by this Form N-CSR is included as part of the report to shareholders of such series under Item 1(a) of this Form N-CSR.
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable to the Registrant.
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable to the Registrant.
ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
Not applicable to the Registrant.
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
There were no material changes to the procedures by which shareholders may send recommendations to the Board for nominees to the Registrant's Board since the Registrant last provided disclosure as to such procedures in response to the requirements of Item 407 (c)(2)(iv) of Regulation S-K or this Item.
ITEM 11. CONTROLS AND PROCEDURES.
(a)Based upon their evaluation of the effectiveness of the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the "Act")) as conducted within 90 days of the filing date of this report on Form N-CSR, the Registrant's principal financial officer and principal executive officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the Registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.
(b)There were no changes in the Registrant's internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the period covered by the report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.
ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable to the Registrant.
ITEM 13. EXHIBITS.
(a)(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable.
(2)A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2): Attached hereto as EX-99.302CERT.
(3)Any written solicitation to purchase securities under Rule 23c-1 under the Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons. Not applicable.
(4)Change in the registrant's independent public accountant. Not applicable.
(b)If the report is filed under Section 13(a) or 15(d) of the Exchange Act, provide the certifications required by Rule 30a-2(b) under the Act (17 CFR 270.30a-2(b)), Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)) and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as an exhibit. A certification furnished pursuant to this paragraph will not be deemed "filed" for the purposes of Section 18 of the Exchange Act (15 U.S.C. 78r), or otherwise subject to the liability of that section. Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registrant specifically incorporates it by reference. Attached hereto as EX-99.906CERT.
Notice
A copy of the Amended and Restated Declaration of Trust, as amended, of the Registrant is on file with the Secretary of State of The Commonwealth of Massachusetts and notice is hereby given that this instrument is executed on behalf of the Registrant by an officer of the Registrant as an officer and not individually and the obligations of or arising out of this instrument are not binding upon any of the Trustees or shareholders individually, but are binding only upon the assets and property of the respective constituent series of the Registrant.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) MFS SERIES TRUST IV
By (Signature and Title)*
/S/ DAVID L. DILORENZO
David L. DiLorenzo, President
Date: April 14, 2023
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)*
/S/ DAVID L. DILORENZO
David L. DiLorenzo, President (Principal Executive Officer)
Date: April 14, 2023
By (Signature and Title)*
/S/ JAMES O. YOST
James O. Yost, Treasurer (Principal Financial Officer and Accounting Officer) Date: April 14, 2023
* Print name and title of each signing officer under his or her signature.