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: August 31, 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. | 4.8% |
Samsung Electronics Co. Ltd. | 4.6% |
Alibaba Group Holding Ltd. | 2.3% |
Hon Hai Precision Industry Co. Ltd. | 1.8% |
China Petroleum & Chemical Corp. | 1.6% |
Mahindra & Mahindra Ltd. | 1.6% |
KB Financial Group, Inc. | 1.6% |
Petrobras | 1.6% |
Tata Consultancy Services Ltd. | 1.5% |
Information Technology | 20.9% |
Financials | 20.7% |
Consumer Discretionary | 14.2% |
Communication Services | 10.4% |
Materials | 7.7% |
Consumer Staples | 7.0% |
Industrials | 5.9% |
Energy | 5.1% |
Health Care | 3.9% |
Utilities | 1.8% |
Real Estate | 1.4% |
China | 30.1% |
South Korea | 14.4% |
India | 13.9% |
Taiwan | 12.3% |
Brazil | 5.3% |
Indonesia | 3.7% |
Mexico | 3.5% |
South Africa | 3.0% |
United Arab Emirates | 1.9% |
Other Countries | 11.9% |
Hong Kong Dollar | 25.0% |
South Korean Won | 14.4% |
Indian Rupee | 13.6% |
Taiwan Dollar | 12.3% |
Brazilian Real | 5.3% |
Chinese Renminbi | 4.3% |
Indonesian Rupiah | 3.7% |
United States Dollar | 3.5% |
Mexican Peso | 3.5% |
Other Currencies | 14.4% |
(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 includes Cash & Cash Equivalents. |
(b) | Security is not a benchmark constituent. |
(h) | Security was not held in the portfolio at period end. |
Share Class | Class Inception Date | 1-yr | 5-yr | Life (t) |
A | 9/15/15 | 3.79% | 0.61% | 5.20% |
B | 9/15/15 | 3.07% | (0.14)% | 4.42% |
C | 9/15/15 | 3.08% | (0.15)% | 4.41% |
I | 9/15/15 | 4.06% | 0.86% | 5.46% |
R1 | 9/15/15 | 3.82% | 0.24% | 4.66% |
R2 | 9/15/15 | 3.61% | 0.36% | 4.94% |
R3 | 9/15/15 | 3.83% | 0.59% | 5.19% |
R4 | 9/15/15 | 4.05% | 0.85% | 5.46% |
R6 | 9/15/15 | 4.24% | 0.95% | 5.55% |
MSCI Emerging Markets Index (net div) (f) | 1.25% | 0.98% | 4.95% |
A With Initial Sales Charge (5.75%) | (2.18)% | (0.58)% | 4.42% |
B With CDSC (Declining over six years from 4% to 0%) (v) | (0.93)% | (0.50)% | 4.42% |
C With CDSC (1% for 12 months) (v) | 2.08% | (0.15)% | 4.41% |
(f) | Source: FactSet Research Systems Inc. |
(t) | For the period from the class inception date through the stated period end. (See Notes to Performance Summary.) |
(v) | Assuming redemption at the end of the applicable period. |
(e) | Morgan Stanley Capital International (“MSCI”) makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed, or produced by MSCI. |
March 1, 2023 through August 31, 2023
Share Class | Annualized Expense Ratio | Beginning Account Value 3/01/23 | Ending Account Value 8/31/23 | Expenses Paid During Period (p) 3/01/23-8/31/23 | |
A | Actual | 1.24% | $1,000.00 | $1,030.30 | $6.35 |
Hypothetical (h) | 1.24% | $1,000.00 | $1,018.95 | $6.31 | |
B | Actual | 1.99% | $1,000.00 | $1,027.19 | $10.17 |
Hypothetical (h) | 1.99% | $1,000.00 | $1,015.17 | $10.11 | |
C | Actual | 1.99% | $1,000.00 | $1,027.14 | $10.17 |
Hypothetical (h) | 1.99% | $1,000.00 | $1,015.17 | $10.11 | |
I | Actual | 0.99% | $1,000.00 | $1,031.99 | $5.07 |
Hypothetical (h) | 0.99% | $1,000.00 | $1,020.21 | $5.04 | |
R1 | Actual | 1.24% | $1,000.00 | $1,030.53 | $6.35 |
Hypothetical (h) | 1.24% | $1,000.00 | $1,018.95 | $6.31 | |
R2 | Actual | 1.49% | $1,000.00 | $1,029.51 | $7.62 |
Hypothetical (h) | 1.49% | $1,000.00 | $1,017.69 | $7.58 | |
R3 | Actual | 1.24% | $1,000.00 | $1,030.30 | $6.35 |
Hypothetical (h) | 1.24% | $1,000.00 | $1,018.95 | $6.31 | |
R4 | Actual | 0.99% | $1,000.00 | $1,031.07 | $5.07 |
Hypothetical (h) | 0.99% | $1,000.00 | $1,020.21 | $5.04 | |
R6 | Actual | 0.87% | $1,000.00 | $1,032.75 | $4.46 |
Hypothetical (h) | 0.87% | $1,000.00 | $1,020.82 | $4.43 |
(h) | 5% class return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – 97.7% | ||||
Airlines – 2.0% | ||||
Copa Holdings S.A., “A” | 2,843 | $289,133 | ||
Grupo Aeroportuario del Centro Norte S.A.B. de C.V. | 12,199 | 141,204 | ||
Grupo Aeroportuario del Sureste, “B” | 9,478 | 258,250 | ||
Saudi Airlines Catering Co. | 10,053 | 288,940 | ||
$977,527 | ||||
Alcoholic Beverages – 1.8% | ||||
Ambev S.A. | 95,500 | $266,903 | ||
China Resources Beer Holdings Co. Ltd. | 20,000 | 117,567 | ||
Jiangsu Yanghe Brewery JSC Ltd., “A” | 10,000 | 184,083 | ||
Kweichow Moutai Co. Ltd., “A” | 800 | 202,683 | ||
Wuliangye Yibin Co. Ltd., “A” | 4,800 | 102,654 | ||
$873,890 | ||||
Automotive – 4.4% | ||||
BYD Co. Ltd. | 13,500 | $423,126 | ||
Kia Corp. | 8,035 | 487,541 | ||
Mahindra & Mahindra Ltd. | 41,021 | 780,618 | ||
Maruti Suzuki India Ltd. | 2,471 | 298,593 | ||
Tofas Turk Otomobil Fabrikasi A.S. | 13,920 | 140,605 | ||
$2,130,483 | ||||
Biotechnology – 0.5% | ||||
Hugel, Inc. (a) | 2,643 | $224,758 | ||
Brokerage & Asset Managers – 0.2% | ||||
B3 S.A. - Brasil Bolsa Balcao | 36,000 | $93,997 | ||
Moscow Exchange MICEX-RTS PJSC (a)(u) | 57,902 | 0 | ||
$93,997 | ||||
Business Services – 4.5% | ||||
HCL Technologies Ltd. | 31,457 | $445,392 | ||
Infosys Ltd. | 35,122 | 608,988 | ||
Multiply Group (a) | 87,748 | 91,021 | ||
Tata Consultancy Services Ltd. | 18,340 | 743,647 | ||
WNS (Holdings) Ltd., ADR (a) | 4,547 | 297,146 | ||
$2,186,194 | ||||
Chemicals – 0.5% | ||||
UPL Ltd. | 34,827 | $248,688 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Computer Software – 0.8% | ||||
Kingsoft Corp. | 91,200 | $363,993 | ||
Computer Software - Systems – 7.3% | ||||
Hon Hai Precision Industry Co. Ltd. | 267,000 | $892,892 | ||
Lenovo Group Ltd. | 302,000 | 341,574 | ||
Samsung Electronics Co. Ltd. | 43,531 | 2,203,309 | ||
Wistron Corp. | 26,000 | 95,521 | ||
$3,533,296 | ||||
Conglomerates – 0.6% | ||||
CITIC Pacific Ltd. | 291,000 | $289,058 | ||
Construction – 3.7% | ||||
Anhui Conch Cement Co. Ltd. | 96,500 | $268,249 | ||
CEMEX S.A.B. de C.V. (a) | 630,282 | 497,187 | ||
Midea Group Co. Ltd., “A” | 32,500 | 251,924 | ||
Ultratech Cement Ltd. | 4,544 | 455,433 | ||
Zhejiang Supor Co. Ltd., “A” | 50,700 | 331,106 | ||
$1,803,899 | ||||
Consumer Products – 0.6% | ||||
AmorePacific Corp. | 2,924 | $296,216 | ||
Consumer Services – 0.1% | ||||
HeadHunter Group PLC, ADR (a)(u) | 3,158 | $0 | ||
Trip.com Group Ltd., ADR (a) | 1,673 | 65,766 | ||
$65,766 | ||||
Electrical Equipment – 0.6% | ||||
Voltronic Power Technology Corp. | 6,000 | $273,186 | ||
Electronics – 9.5% | ||||
MediaTek, Inc. | 11,000 | $243,512 | ||
Novatek Microelectronics Corp. | 29,000 | 363,792 | ||
Realtek Semiconductor Corp. | 16,000 | 210,007 | ||
Taiwan Semiconductor Manufacturing Co. Ltd. | 205,000 | 3,533,983 | ||
Tripod Technology Corp. | 36,000 | 213,650 | ||
$4,564,944 | ||||
Energy - Independent – 0.6% | ||||
Hindustan Petroleum Corp. Ltd. (a) | 40,078 | $120,109 | ||
Reliance Industries Ltd. | 6,533 | 189,946 | ||
$310,055 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Energy - Integrated – 4.6% | ||||
China Petroleum & Chemical Corp. | 1,338,000 | $783,109 | ||
LUKOIL PJSC (a)(u) | 9,157 | 0 | ||
MOL Hungarian Oil & Gas PLC | 15,086 | 114,205 | ||
Oil & Natural Gas Corp. Ltd. | 86,253 | 181,443 | ||
Petrobras | 109,300 | 762,355 | ||
PetroChina Co. Ltd. | 354,000 | 255,490 | ||
Sasol Ltd. | 7,999 | 103,460 | ||
$2,200,062 | ||||
Energy - Renewables – 0.3% | ||||
Mytilineos S.A. | 3,904 | $158,495 | ||
Engineering - Construction – 0.9% | ||||
Doosan Bobcat, Inc. | 10,627 | $432,557 | ||
Food & Beverages – 2.2% | ||||
AVI Ltd. | 60,812 | $233,587 | ||
Gruma S.A.B. de C.V. | 12,605 | 210,420 | ||
Inner Mongolia Yili Industrial Group Co. Ltd., “A” | 75,564 | 269,494 | ||
Orion Corp. | 3,632 | 334,691 | ||
$1,048,192 | ||||
Food & Drug Stores – 0.9% | ||||
BGF Retail Co., Ltd. | 1,122 | $132,764 | ||
BIM Birlesik Magazalar A.S. | 32,606 | 307,753 | ||
$440,517 | ||||
Gaming & Lodging – 0.6% | ||||
Genting Berhad | 201,100 | $189,592 | ||
OPAP S.A. | 7,003 | 118,310 | ||
$307,902 | ||||
Insurance – 4.1% | ||||
China Pacific Insurance Co. Ltd. | 180,200 | $412,681 | ||
DB Insurance Co. Ltd. | 2,085 | 128,878 | ||
Meritz Financial Group Inc. | 2,610 | 108,014 | ||
Ping An Insurance Co. of China Ltd., “H” | 116,000 | 694,460 | ||
Samsung Fire & Marine Insurance Co. Ltd. | 3,298 | 615,061 | ||
$1,959,094 | ||||
Internet – 6.9% | ||||
MakeMyTrip Ltd. (a) | 2,831 | $112,278 | ||
NetEase, Inc. | 16,500 | 344,629 | ||
NetEase, Inc., ADR | 5,135 | 531,370 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Internet – continued | ||||
Tencent Holdings Ltd. | 56,300 | $2,333,165 | ||
$3,321,442 | ||||
Leisure & Toys – 0.2% | ||||
NCsoft Corp. | 532 | $101,228 | ||
Machinery & Tools – 0.2% | ||||
Globalwafers Co., Ltd. | 6,000 | $86,477 | ||
Major Banks – 2.4% | ||||
Bandhan Bank Ltd. | 112,333 | $311,545 | ||
Bank of China Ltd. | 607,000 | 205,885 | ||
Industrial & Commercial Bank of China, “H” | 175,000 | 80,333 | ||
Nedbank Group Ltd. | 42,368 | 484,164 | ||
Woori Financial Group, Inc. | 11,182 | 100,759 | ||
$1,182,686 | ||||
Medical & Health Technology & Services – 0.8% | ||||
Dr. Sulaiman Al Habib Medical Services Group | 2,568 | $166,378 | ||
OdontoPrev S.A. | 112,800 | 235,529 | ||
$401,907 | ||||
Medical Equipment – 0.3% | ||||
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., “A” | 4,300 | $159,255 | ||
Metals & Mining – 3.7% | ||||
Adaro Energy Indonesia Tbk PT | 392,600 | $68,827 | ||
African Rainbow Minerals Ltd. | 10,869 | 103,021 | ||
Alrosa PJSC (a)(u) | 143,843 | 0 | ||
Hindalco Industries Ltd. | 20,218 | 112,304 | ||
Industries Qatar Q.P.S.C. | 93,158 | 316,328 | ||
Jiangxi Copper Co. Ltd., “H” | 155,700 | 243,010 | ||
Kumba Iron Ore Ltd. | 7,544 | 165,932 | ||
POSCO Holdings, Inc. | 719 | 314,962 | ||
Tata Steel Ltd. | 97,114 | 144,170 | ||
Vale S.A. | 24,500 | 321,980 | ||
$1,790,534 | ||||
Natural Gas - Distribution – 0.7% | ||||
China Resources Gas Group Ltd. | 50,900 | $143,113 | ||
GAIL (India) Ltd. GDR | 141,516 | 196,583 | ||
$339,696 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Other Banks & Diversified Financials – 14.0% | ||||
Axis Bank Ltd. | 15,553 | $182,891 | ||
Bangkok Bank Public Co. Ltd. | 66,800 | 323,341 | ||
Bank Negara Indonesia PT | 426,200 | 256,755 | ||
Bank of Communications Co. Ltd. | 182,000 | 104,201 | ||
BNK Financial Group, Inc. | 34,435 | 177,679 | ||
Chailease Holding Co. | 1,644 | 9,163 | ||
China Construction Bank Corp. | 834,000 | 446,652 | ||
China Merchants Bank Co. Ltd. | 87,000 | 343,902 | ||
Credicorp Ltd. | 2,960 | 418,633 | ||
Emirates NBD PJSC | 105,676 | 470,406 | ||
Hana Financial Group, Inc. | 7,912 | 236,747 | ||
HDFC Bank Ltd. | 20,809 | 394,997 | ||
HDFC Bank Ltd., ADR | 8,001 | 498,542 | ||
KB Financial Group, Inc. | 19,012 | 778,172 | ||
Komercní banka A.S. | 12,983 | 406,234 | ||
Kotak Mahindra Bank Ltd. | 11,103 | 235,877 | ||
PT Bank Central Asia Tbk | 607,600 | 366,036 | ||
PT Bank Mandiri Tbk | 1,181,700 | 467,482 | ||
Sberbank of Russia PJSC (a)(u) | 177,552 | 0 | ||
Shriram Transport Finance Co. Ltd. | 6,245 | 145,462 | ||
TCS Group Holding PLC, GDR (a)(u) | 3,991 | 0 | ||
Tisco Financial Group PCL | 171,200 | 503,565 | ||
$6,766,737 | ||||
Pharmaceuticals – 2.3% | ||||
China Medical System Holdings Ltd. | 60,000 | $86,607 | ||
China Resources Pharmaceutical Group Ltd. | 196,500 | 131,295 | ||
Dong-E-E-Jiao Co., Ltd., “A” | 11,900 | 84,604 | ||
Gedeon Richter PLC | 9,080 | 227,878 | ||
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., “A” | 36,200 | 153,535 | ||
Kalbe Farma Tbk PT | 475,400 | 56,655 | ||
Shanghai Pharmaceuticals Holding Co. Ltd., “H” | 62,500 | 102,807 | ||
Sinopharm Group Co. Ltd., “H” | 94,000 | 272,686 | ||
$1,116,067 | ||||
Precious Metals & Minerals – 0.1% | ||||
Gold Fields Ltd., ADR | 4,037 | $50,987 | ||
Real Estate – 1.1% | ||||
Aldar Properties PJSC | 103,363 | $148,023 | ||
Emaar Properties PJSC | 119,343 | 229,394 | ||
NEPI Rockcastle N.V. | 22,844 | 137,100 | ||
$514,517 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Restaurants – 1.3% | ||||
Haidilao International Holding Ltd. | 28,000 | $76,227 | ||
Jollibee Foods Corp. | 31,140 | 130,346 | ||
Yum China Holdings, Inc. | 8,054 | 432,419 | ||
$638,992 | ||||
Specialty Chemicals – 0.4% | ||||
LG Chem Ltd. | 321 | $141,587 | ||
Sahara International Petrochemical Co. | 4,956 | 48,164 | ||
$189,751 | ||||
Specialty Stores – 8.1% | ||||
Alibaba Group Holding Ltd. (a) | 95,400 | $1,097,258 | ||
Alibaba Group Holding Ltd., ADR (a) | 4,257 | 395,475 | ||
Cencosud S.A. | 53,878 | 115,331 | ||
JD.com, Inc., “A” | 12,228 | 200,829 | ||
JD.com, Inc., ADR | 7,236 | 240,308 | ||
Meituan, “B” (a) | 35,060 | 574,472 | ||
Multiplan Empreendimentos Imobiliarios S.A. | 35,224 | 175,976 | ||
PDD Holdings, Inc., ADR (a) | 1,834 | 181,511 | ||
Vipshop Holdings Ltd., ADR (a) | 8,884 | 140,278 | ||
Walmart de Mexico S.A.B. de C.V. | 153,697 | 605,485 | ||
Woolworths Ltd. | 45,375 | 178,232 | ||
$3,905,155 | ||||
Telecommunications - Wireless – 1.6% | ||||
Advanced Info Service Public Co. Ltd. | 8,900 | $54,898 | ||
Ooredoo Q.P.S.C. | 46,283 | 137,323 | ||
PT Telekom Indonesia | 2,315,000 | 566,970 | ||
$759,191 | ||||
Telephone Services – 1.2% | ||||
Hellenic Telecommunications Organization S.A. | 38,238 | $572,195 | ||
Utilities - Electric Power – 1.1% | ||||
CEZ A.S. (Czech Republic) | 5,637 | $239,999 | ||
Energisa S.A., IEU | 18,800 | 175,014 | ||
Huaneng Power International, Inc. (a) | 200,000 | 99,970 | ||
$514,983 | ||||
Total Common Stocks (Identified Cost, $43,866,570) | $47,194,569 | |||
Preferred Stocks – 1.3% | ||||
Computer Software - Systems – 0.3% | ||||
Samsung Electronics Co. Ltd. | 3,302 | $134,903 |
Issuer | Shares/Par | Value ($) | ||
Preferred Stocks – continued | ||||
Metals & Mining – 1.0% | ||||
Gerdau S.A. | 96,710 | $504,832 | ||
Total Preferred Stocks (Identified Cost, $571,144) | $639,735 | |||
Investment Companies (h) – 1.1% | ||||
Money Market Funds – 1.1% | ||||
MFS Institutional Money Market Portfolio, 5.3% (v) (Identified Cost, $519,742) | 519,742 | $519,794 | ||
Other Assets, Less Liabilities – (0.1)% | (56,681) | |||
Net Assets – 100.0% | $48,297,417 |
(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 $519,794 and $47,834,304, 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, $44,437,714) | $47,834,304 |
Investments in affiliated issuers, at value (identified cost, $519,742) | 519,794 |
Cash | 636 |
Foreign currency, at value (identified cost, $12,667) | 12,681 |
Receivables for | |
Fund shares sold | 34,741 |
Dividends | 102,178 |
Receivable from investment adviser | 63,923 |
Other assets | 82 |
Total assets | $48,568,339 |
Liabilities | |
Payables for | |
Fund shares reacquired | $414 |
Payable to affiliates | |
Administrative services fee | 94 |
Shareholder servicing costs | 10,100 |
Distribution and service fees | 89 |
Payable for independent Trustees' compensation | 1 |
Deferred foreign capital gains tax expense payable | 58,951 |
Payable for custodian fee | 102,261 |
Payable for audit and tax fees | 88,276 |
Accrued expenses and other liabilities | 10,736 |
Total liabilities | $270,922 |
Net assets | $48,297,417 |
Net assets consist of | |
Paid-in capital | $47,474,657 |
Total distributable earnings (loss) | 822,760 |
Net assets | $48,297,417 |
Shares of beneficial interest outstanding | 3,934,103 |
Net assets | Shares outstanding | Net asset value per share (a) | |
Class A | $4,331,442 | 353,770 | $12.24 |
Class B | 256,167 | 21,195 | 12.09 |
Class C | 176,769 | 14,599 | 12.11 |
Class I | 20,792,895 | 1,695,826 | 12.26 |
Class R1 | 71,850 | 5,914 | 12.15 |
Class R2 | 73,378 | 6,010 | 12.21 |
Class R3 | 119,336 | 9,747 | 12.24 |
Class R4 | 112,954 | 9,195 | 12.28 |
Class R6 | 22,362,626 | 1,817,847 | 12.30 |
(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 $12.99 [100 / 94.25 x $12.24]. 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 | $1,948,296 |
Dividends from affiliated issuers | 21,050 |
Other | 8,794 |
Income on securities loaned | 1 |
Foreign taxes withheld | (200,497) |
Total investment income | $1,777,644 |
Expenses | |
Management fee | $335,986 |
Distribution and service fees | 16,120 |
Shareholder servicing costs | 37,775 |
Administrative services fee | 17,500 |
Independent Trustees' compensation | 3,017 |
Custodian fee | 255,832 |
Shareholder communications | 9,279 |
Audit and tax fees | 140,599 |
Legal fees | 286 |
Registration fees | 124,442 |
Miscellaneous | 35,872 |
Total expenses | $976,708 |
Reduction of expenses by investment adviser and distributor | (538,786) |
Net expenses | $437,922 |
Net investment income (loss) | $1,339,722 |
Realized and unrealized gain (loss) | |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers (net of $4,230 foreign capital gains tax) | $(2,148,331) |
Affiliated issuers | 178 |
Foreign currency | (21,312) |
Net realized gain (loss) | $(2,169,465) |
Change in unrealized appreciation or depreciation | |
Unaffiliated issuers (net of $22,371 increase in deferred foreign capital gains tax) | $3,206,221 |
Affiliated issuers | 52 |
Translation of assets and liabilities in foreign currencies | (3,157) |
Net unrealized gain (loss) | $3,203,116 |
Net realized and unrealized gain (loss) | $1,033,651 |
Change in net assets from operations | $2,373,373 |
Year ended | ||
8/31/23 | 8/31/22 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $1,339,722 | $1,448,957 |
Net realized gain (loss) | (2,169,465) | 344,817 |
Net unrealized gain (loss) | 3,203,116 | (13,218,517) |
Change in net assets from operations | $2,373,373 | $(11,424,743) |
Total distributions to shareholders | $(1,376,015) | $(2,127,297) |
Change in net assets from fund share transactions | $7,306,790 | $(6,641,570) |
Total change in net assets | $8,304,148 | $(20,193,610) |
Net assets | ||
At beginning of period | 39,993,269 | 60,186,879 |
At end of period | $48,297,417 | $39,993,269 |
Class A | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $12.11 | $15.96 | $12.97 | $12.12 | $13.66 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.32 | $0.37 | $0.23 | $0.24 | $0.25 |
Net realized and unrealized gain (loss) | 0.12 | (3.70) | 2.96 | 0.81 | (1.20) |
Total from investment operations | $0.44 | $(3.33) | $3.19 | $1.05 | $(0.95) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.31) | $(0.25) | $(0.20) | $(0.20) | $(0.22) |
From net realized gain | — | (0.27) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.31) | $(0.52) | $(0.20) | $(0.20) | $(0.59) |
Net asset value, end of period (x) | $12.24 | $12.11 | $15.96 | $12.97 | $12.12 |
Total return (%) (r)(s)(t)(x) | 3.79 | (21.42) | 24.78 | 8.63 | (6.77) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 2.44 | 1.94 | 1.82 | 2.39 | 2.95 |
Expenses after expense reductions | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 |
Net investment income (loss) | 2.69 | 2.62 | 1.50 | 1.98 | 2.01 |
Portfolio turnover | 63 | 58 | 60 | 63 | 64 |
Net assets at end of period (000 omitted) | $4,331 | $4,797 | $7,869 | $5,702 | $5,174 |
Class B | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $11.96 | $15.75 | $12.81 | $11.99 | $13.54 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.23 | $0.28 | $0.11 | $0.15 | $0.21 |
Net realized and unrealized gain (loss) | 0.13 | (3.67) | 2.93 | 0.80 | (1.25) |
Total from investment operations | $0.36 | $(3.39) | $3.04 | $0.95 | $(1.04) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.23) | $(0.13) | $(0.10) | $(0.13) | $(0.14) |
From net realized gain | — | (0.27) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.23) | $(0.40) | $(0.10) | $(0.13) | $(0.51) |
Net asset value, end of period (x) | $12.09 | $11.96 | $15.75 | $12.81 | $11.99 |
Total return (%) (r)(s)(t)(x) | 3.07 | (21.98) | 23.77 | 7.88 | (7.51) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 3.18 | 2.71 | 2.58 | 3.19 | 3.70 |
Expenses after expense reductions | 1.99 | 1.99 | 1.99 | 1.99 | 1.99 |
Net investment income (loss) | 1.96 | 2.02 | 0.72 | 1.22 | 1.63 |
Portfolio turnover | 63 | 58 | 60 | 63 | 64 |
Net assets at end of period (000 omitted) | $256 | $276 | $403 | $312 | $391 |
Class C | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $11.95 | $15.72 | $12.78 | $11.95 | $13.50 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.23 | $0.26 | $0.11 | $0.15 | $0.16 |
Net realized and unrealized gain (loss) | 0.13 | (3.65) | 2.93 | 0.78 | (1.19) |
Total from investment operations | $0.36 | $(3.39) | $3.04 | $0.93 | $(1.03) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.20) | $(0.11) | $(0.10) | $(0.10) | $(0.15) |
From net realized gain | — | (0.27) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.20) | $(0.38) | $(0.10) | $(0.10) | $(0.52) |
Net asset value, end of period (x) | $12.11 | $11.95 | $15.72 | $12.78 | $11.95 |
Total return (%) (r)(s)(t)(x) | 3.08 | (22.02) | 23.87 | 7.78 | (7.51) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 3.18 | 2.69 | 2.58 | 3.19 | 3.70 |
Expenses after expense reductions | 1.99 | 1.99 | 1.99 | 1.99 | 1.99 |
Net investment income (loss) | 1.95 | 1.85 | 0.72 | 1.22 | 1.31 |
Portfolio turnover | 63 | 58 | 60 | 63 | 64 |
Net assets at end of period (000 omitted) | $177 | $224 | $410 | $344 | $420 |
Class I | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $12.14 | $16.00 | $13.00 | $12.16 | $13.71 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.36 | $0.39 | $0.28 | $0.29 | $0.29 |
Net realized and unrealized gain (loss) | 0.12 | (3.69) | 2.96 | 0.80 | (1.22) |
Total from investment operations | $0.48 | $(3.30) | $3.24 | $1.09 | $(0.93) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.36) | $(0.29) | $(0.24) | $(0.25) | $(0.25) |
From net realized gain | — | (0.27) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.36) | $(0.56) | $(0.24) | $(0.25) | $(0.62) |
Net asset value, end of period (x) | $12.26 | $12.14 | $16.00 | $13.00 | $12.16 |
Total return (%) (r)(s)(t)(x) | 4.06 | (21.21) | 25.10 | 8.89 | (6.55) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 2.19 | 1.67 | 1.57 | 1.91 | 2.70 |
Expenses after expense reductions | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 |
Net investment income (loss) | 2.98 | 2.77 | 1.83 | 2.46 | 2.26 |
Portfolio turnover | 63 | 58 | 60 | 63 | 64 |
Net assets at end of period (000 omitted) | $20,793 | $17,811 | $33,247 | $21,273 | $1,811 |
Class R1 | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $12.03 | $15.84 | $12.84 | $12.01 | $13.57 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.32 | $0.39 | $0.17 | $0.15 | $0.17 |
Net realized and unrealized gain (loss) | 0.12 | (3.70) | 2.94 | 0.80 | (1.20) |
Total from investment operations | $0.44 | $(3.31) | $3.11 | $0.95 | $(1.03) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.32) | $(0.23) | $(0.11) | $(0.12) | $(0.16) |
From net realized gain | — | (0.27) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.32) | $(0.50) | $(0.11) | $(0.12) | $(0.53) |
Net asset value, end of period (x) | $12.15 | $12.03 | $15.84 | $12.84 | $12.01 |
Total return (%) (r)(s)(t)(x) | 3.82 | (21.43) | 24.32 | 7.84 | (7.47) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 2.44 | 1.96 | 2.18 | 3.14 | 3.70 |
Expenses after expense reductions | 1.24 | 1.24 | 1.59 | 1.99 | 1.99 |
Net investment income (loss) | 2.72 | 2.82 | 1.11 | 1.25 | 1.32 |
Portfolio turnover | 63 | 58 | 60 | 63 | 64 |
Net assets at end of period (000 omitted) | $72 | $69 | $88 | $71 | $66 |
Class R2 | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $12.08 | $15.93 | $12.95 | $12.11 | $13.66 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.30 | $0.36 | $0.18 | $0.21 | $0.23 |
Net realized and unrealized gain (loss) | 0.12 | (3.73) | 2.97 | 0.81 | (1.20) |
Total from investment operations | $0.42 | $(3.37) | $3.15 | $1.02 | $(0.97) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.29) | $(0.21) | $(0.17) | $(0.18) | $(0.21) |
From net realized gain | — | (0.27) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.29) | $(0.48) | $(0.17) | $(0.18) | $(0.58) |
Net asset value, end of period (x) | $12.21 | $12.08 | $15.93 | $12.95 | $12.11 |
Total return (%) (r)(s)(t)(x) | 3.61 | (21.67) | 24.47 | 8.35 | (6.97) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 2.69 | 2.22 | 2.08 | 2.64 | 3.20 |
Expenses after expense reductions | 1.49 | 1.49 | 1.49 | 1.49 | 1.49 |
Net investment income (loss) | 2.48 | 2.57 | 1.21 | 1.75 | 1.82 |
Portfolio turnover | 63 | 58 | 60 | 63 | 64 |
Net assets at end of period (000 omitted) | $73 | $71 | $90 | $73 | $67 |
Class R3 | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $12.12 | $15.98 | $12.98 | $12.14 | $13.69 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.32 | $0.41 | $0.23 | $0.21 | $0.24 |
Net realized and unrealized gain (loss) | 0.13 | (3.75) | 2.97 | 0.83 | (1.19) |
Total from investment operations | $0.45 | $(3.34) | $3.20 | $1.04 | $(0.95) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.33) | $(0.25) | $(0.20) | $(0.20) | $(0.23) |
From net realized gain | — | (0.27) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.33) | $(0.52) | $(0.20) | $(0.20) | $(0.60) |
Net asset value, end of period (x) | $12.24 | $12.12 | $15.98 | $12.98 | $12.14 |
Total return (%) (r)(s)(t)(x) | 3.83 | (21.45) | 24.80 | 8.52 | (6.75) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 2.43 | 1.99 | 1.82 | 2.43 | 2.95 |
Expenses after expense reductions | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 |
Net investment income (loss) | 2.68 | 2.96 | 1.50 | 1.71 | 1.89 |
Portfolio turnover | 63 | 58 | 60 | 63 | 64 |
Net assets at end of period (000 omitted) | $119 | $118 | $107 | $81 | $71 |
Class R4 | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $12.16 | $16.03 | $13.02 | $12.17 | $13.72 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.36 | $0.43 | $0.26 | $0.28 | $0.30 |
Net realized and unrealized gain (loss) | 0.12 | (3.74) | 2.98 | 0.81 | (1.23) |
Total from investment operations | $0.48 | $(3.31) | $3.24 | $1.09 | $(0.93) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.36) | $(0.29) | $(0.23) | $(0.24) | $(0.25) |
From net realized gain | — | (0.27) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.36) | $(0.56) | $(0.23) | $(0.24) | $(0.62) |
Net asset value, end of period (x) | $12.28 | $12.16 | $16.03 | $13.02 | $12.17 |
Total return (%) (r)(s)(t)(x) | 4.05 | (21.24) | 25.10 | 8.90 | (6.55) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 2.19 | 1.72 | 1.58 | 2.14 | 2.70 |
Expenses after expense reductions | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 |
Net investment income (loss) | 2.97 | 3.12 | 1.70 | 2.25 | 2.36 |
Portfolio turnover | 63 | 58 | 60 | 63 | 64 |
Net assets at end of period (000 omitted) | $113 | $104 | $118 | $97 | $85 |
Class R6 | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $12.17 | $16.04 | $13.03 | $12.19 | $13.73 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.37 | $0.45 | $0.27 | $0.29 | $0.31 |
Net realized and unrealized gain (loss) | 0.13 | (3.75) | 2.98 | 0.81 | (1.22) |
Total from investment operations | $0.50 | $(3.30) | $3.25 | $1.10 | $(0.91) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.37) | $(0.30) | $(0.24) | $(0.26) | $(0.26) |
From net realized gain | — | (0.27) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.37) | $(0.57) | $(0.24) | $(0.26) | $(0.63) |
Net asset value, end of period (x) | $12.30 | $12.17 | $16.04 | $13.03 | $12.19 |
Total return (%) (r)(s)(t)(x) | 4.24 | (21.18) | 25.17 | 8.91 | (6.40) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 2.08 | 1.64 | 1.51 | 2.05 | 2.58 |
Expenses after expense reductions | 0.88 | 0.90 | 0.93 | 0.92 | 0.87 |
Net investment income (loss) | 3.08 | 3.23 | 1.79 | 2.36 | 2.44 |
Portfolio turnover | 63 | 58 | 60 | 63 | 64 |
Net assets at end of period (000 omitted) | $22,363 | $16,523 | $17,855 | $14,422 | $12,590 |
(d) | Per share data is based on average shares outstanding. |
(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: | ||||
China | $14,562,813 | $— | $— | $14,562,813 |
South Korea | 6,949,826 | — | — | 6,949,826 |
India | 6,704,652 | — | — | 6,704,652 |
Taiwan | 5,922,183 | — | — | 5,922,183 |
Brazil | 2,536,586 | — | — | 2,536,586 |
Indonesia | 1,782,725 | — | — | 1,782,725 |
Mexico | 1,712,546 | — | — | 1,712,546 |
South Africa | 1,456,483 | — | — | 1,456,483 |
United Arab Emirates | 938,844 | — | — | 938,844 |
Other Countries | 4,196,250 | 1,071,396 | 0 | 5,267,646 |
Mutual Funds | 519,794 | — | — | 519,794 |
Total | $47,282,702 | $1,071,396 | $0 | $48,354,098 |
Year ended 8/31/23 | Year ended 8/31/22 | |
Ordinary income (including any short-term capital gains) | $1,376,015 | $1,355,091 |
Long-term capital gains | — | 772,206 |
Total distributions | $1,376,015 | $2,127,297 |
As of 8/31/23 | |
Cost of investments | $46,978,293 |
Gross appreciation | 5,652,735 |
Gross depreciation | (4,276,930) |
Net unrealized appreciation (depreciation) | $1,375,805 |
Undistributed ordinary income | 1,258,969 |
Capital loss carryforwards | (1,751,070) |
Other temporary differences | (60,944) |
Total distributable earnings (loss) | $822,760 |
Short-Term | $(1,751,070) |
Year ended 8/31/23 | 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% | $ 10,760 |
Class B | 0.75% | 0.25% | 1.00% | 1.00% | 2,658 |
Class C | 0.75% | 0.25% | 1.00% | 1.00% | 1,876 |
Class R1 | 0.75% | 0.25% | 1.00% | 0.25% | 175 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 358 |
Class R3 | — | 0.25% | 0.25% | 0.25% | 293 |
Total Distribution and Service Fees | $16,120 |
(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 year ended August 31, 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 year ended August 31, 2023, this rebate amounted to $1 for Class A shares and is included in the reduction of total expenses in the Statement of Operations. For the year ended August 31, 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 | $424 |
Class B | — |
Class C | 4 |
Year ended 8/31/23 | Year ended 8/31/22 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | |||||
Class A | 254,491 | $2,936,773 | 205,671 | $2,844,904 | |
Class B | 1 | 18 | 468 | 6,990 | |
Class C | 278 | 3,296 | 688 | 9,471 | |
Class I | 752,072 | 8,828,285 | 162,972 | 2,344,661 | |
Class R3 | 2,187 | 26,166 | 3,165 | 42,366 | |
Class R4 | 967 | 11,732 | 1,000 | 13,807 | |
Class R6 | 856,276 | 9,864,592 | 372,261 | 5,030,980 | |
1,866,272 | $21,670,862 | 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 | 147 | 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 | |
115,685 | $1,356,298 | 143,335 | $2,094,165 | ||
Shares reacquired | |||||
Class A | (305,998) | $(3,486,786) | (319,561) | $(4,414,899) | |
Class B | (2,332) | (28,723) | (3,667) | (53,204) | |
Class C | (4,704) | (53,640) | (8,637) | (122,685) | |
Class I | (572,358) | (6,765,097) | (852,957) | (11,984,347) | |
Class R3 | (2,475) | (30,137) | (324) | (4,658) | |
Class R4 | (602) | (7,037) | (70) | (1,004) | |
Class R6 | (451,996) | (5,348,950) | (172,825) | (2,448,117) | |
(1,340,465) | $(15,720,370) | (1,358,041) | $(19,028,914) |
Year ended 8/31/23 | Year ended 8/31/22 | ||||
Shares | Amount | Shares | Amount | ||
Net change | |||||
Class A | (42,397) | $(443,332) | (96,935) | $(1,322,615) | |
Class B | (1,878) | (23,442) | (2,530) | (36,514) | |
Class C | (4,155) | (47,186) | (7,347) | (104,500) | |
Class I | 228,279 | 2,631,887 | (610,518) | (8,479,472) | |
Class R1 | 161 | 1,867 | 192 | 2,788 | |
Class R2 | 147 | 1,716 | 187 | 2,729 | |
Class R3 | (11) | (727) | 3,088 | 41,311 | |
Class R4 | 624 | 7,736 | 1,216 | 16,986 | |
Class R6 | 460,722 | 5,178,271 | 244,166 | 3,237,717 | |
641,492 | $7,306,790 | (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 | $22,521,204 | $22,652,529 | $178 | $52 | $519,794 |
Affiliated Issuers | Dividend Income | Capital Gain Distributions |
MFS Institutional Money Market Portfolio | $21,050 | $— |
October 16, 2023
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
INTERESTED TRUSTEE | ||||||||||
Michael W. Roberge (k) (age 57) | Trustee | January 2021 | 136 | Massachusetts Financial Services Company, Chairman (since January 2021); Chief Executive Officer (since January 2017); Director; Chairman of the Board (since January 2022); President (until December 2018); Chief Investment Officer (until December 2018) | N/A | |||||
INDEPENDENT TRUSTEES | ||||||||||
John P. Kavanaugh (age 68) | Trustee and Chair of Trustees | January 2009 | 136 | Private investor | N/A | |||||
Steven E. Buller (age 72) | Trustee | February 2014 | 136 | Private investor | N/A | |||||
John A. Caroselli (age 69) | Trustee | March 2017 | 136 | Private investor; JC Global Advisors, LLC (management consulting), President (since 2015) | N/A | |||||
Maureen R. Goldfarb (age 68) | Trustee | January 2009 | 136 | Private investor | N/A | |||||
Peter D. Jones (age 68) | Trustee | January 2019 | 136 | Private investor | N/A | |||||
James W. Kilman, Jr. (age 62) | Trustee | January 2019 | 136 | Burford Capital Limited (finance and investment management), Senior Advisor (since May 3, 2021), Chief Financial Officer (2019 - May 2, 2021); KielStrand Capital LLC (family office), Chief Executive Officer (since 2016) | Alpha-En Corporation, Director (2016-2019) |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
Clarence Otis, Jr. (age 67) | Trustee | March 2017 | 136 | Private investor | VF Corporation, Director; Verizon Communications, Inc., Director; The Travelers Companies, Director | |||||
Maryanne L. Roepke (age 67) | Trustee | May 2014 | 136 | Private investor | N/A | |||||
Laurie J. Thomsen (age 66) | Trustee | March 2005 | 136 | Private investor | The Travelers Companies, Director; Dycom Industries, Inc., Director |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
OFFICERS | ||||||||
Christopher R. Bohane (k) (age 49) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President and Senior Managing Counsel | ||||
Kino Clark (k) (age 55) | Assistant Treasurer | January 2012 | 136 | Massachusetts Financial Services Company, Vice President | ||||
John W. Clark, Jr. (k) (age 56) | Assistant Treasurer | April 2017 | 136 | Massachusetts Financial Services Company, Vice President | ||||
David L. DiLorenzo (k) (age 55) | President | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President | ||||
Heidi W. Hardin (k) (age 56) | Secretary and Clerk | April 2017 | 136 | Massachusetts Financial Services Company, Executive Vice President and General Counsel | ||||
Brian E. Langenfeld (k) (age 50) | Assistant Secretary and Assistant Clerk | June 2006 | 136 | Massachusetts Financial Services Company, Vice President and Managing Counsel |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
Rosa E. Licea-Mailloux (k) (age 47) | Chief Compliance Officer | March 2022 | 136 | Massachusetts Financial Services Company, Vice President (since 2018); Director of Corporate Compliance (2018-2021), Senior Director Compliance (2021-2022), Senior Managing Director of North American Compliance & Chief Compliance Officer (since March 2022); Natixis Investment Managers (investment management), Funds Chief Compliance Officer, Deputy General Counsel & Senior Vice President (until 2018) | ||||
Amanda S. Mooradian (k) (age 44) | Assistant Secretary and Assistant Clerk | September 2018 | 136 | Massachusetts Financial Services Company, Assistant Vice President and Senior Counsel | ||||
Susan A. Pereira (k) (age 52) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Vice President and Managing Counsel | ||||
Kasey L. Phillips (k) (age 52) | Assistant Treasurer | September 2012 | 136 | Massachusetts Financial Services Company, Vice President | ||||
Matthew A. Stowe (k) (age 48) | Assistant Secretary and Assistant Clerk | October 2014 | 136 | Massachusetts Financial Services Company, Vice President and Senior Managing Counsel | ||||
William B. Wilson (k) (age 41) | Assistant Secretary and Assistant Clerk | October 2022 | 136 | Massachusetts Financial Services Company, Assistant Vice President and Senior Counsel | ||||
James O. Yost (k) (age 63) | Treasurer | September 1990 | 136 | Massachusetts Financial Services Company, Senior Vice President |
(h) | Date first appointed to serve as Trustee/Officer of an MFS Fund. Each Trustee has served continuously since appointment unless indicated otherwise. From January 2012 through December 2016, Messrs. DiLorenzo and Yost served as Treasurer and Deputy Treasurer of the Funds, respectively. |
(j) | Directorships or trusteeships of companies required to report to the Securities and Exchange Commission (i.e., “public companies”). |
(k) | “Interested person” of the Trust within the meaning of the Investment Company Act of 1940 (referred to as the 1940 Act), which is the principal federal law governing investment companies like the fund, as a result of a position with MFS. The address of MFS is 111 Huntington Avenue, Boston, Massachusetts 02199-7618. |
Investment Adviser | Custodian |
Massachusetts Financial Services Company 111 Huntington Avenue Boston, MA 02199-7618 | State Street Bank and Trust Company 1 Congress Street, Suite 1 Boston, MA 02114-2016 |
Distributor | Independent Registered Public Accounting Firm |
MFS Fund Distributors, Inc. 111 Huntington Avenue Boston, MA 02199-7618 | Ernst & Young LLP 200 Clarendon Street Boston, MA 02116 |
Portfolio Manager(s) | |
Jim Fallon Matt Krummell Jonathan Sage Jed Stocks |
FACTS | WHAT DOES MFS DO WITH YOUR PERSONAL INFORMATION? |
Why? | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
What? | The types of personal information we collect and share depend on the product or service you have with us. This information can include: |
• Social Security number and account balances | |
• Account transactions and transaction history | |
• Checking account information and wire transfer instructions | |
When you are no longer our customer, we continue to share your information as described in this notice. |
How? | All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons MFS chooses to share; and whether you can limit this sharing. |
Reasons we can share your personal information | Does MFS share? | Can you limit this sharing? |
For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus | Yes | No |
For our marketing purposes – to offer our products and services to you | No | We don't share |
For joint marketing with other financial companies | No | We don't share |
For our affiliates' everyday business purposes – information about your transactions and experiences | No | We don't share |
For our affiliates' everyday business purposes – information about your creditworthiness | No | We don't share |
For nonaffiliates to market to you | No | We don't share |
Questions? | Call 800-225-2606 or go to mfs.com. |
Who we are | |
Who is providing this notice? | MFS Funds, MFS Investment Management, MFS Institutional Advisors, Inc., and MFS Heritage Trust Company. |
What we do | |
How does MFS protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include procedural, electronic, and physical safeguards for the protection of the personal information we collect about you. |
How does MFS collect my personal information? | We collect your personal information, for example, when you |
• open an account or provide account information | |
• direct us to buy securities or direct us to sell your securities | |
• make a wire transfer | |
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. | |
Why can't I limit all sharing? | Federal law gives you the right to limit only |
• sharing for affiliates' everyday business purposes – information about your creditworthiness | |
• affiliates from using your information to market to you | |
• sharing for nonaffiliates to market to you | |
State laws and individual companies may give you additional rights to limit sharing. |
Definitions | |
Affiliates | Companies related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share personal information with affiliates, except for everyday business purposes as described on page one of this notice. | |
Nonaffiliates | Companies not related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share with nonaffiliates so they can market to you. | |
Joint marketing | A formal agreement between nonaffiliated financial companies that together market financial products or services to you. |
• MFS doesn't jointly market. |
Other important information |
If you own an MFS product or receive an MFS service in the name of a third party such as a bank or broker-dealer, their privacy policy may apply to you instead of ours. |
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back cover |
ASML Holding N.V. | 2.2% |
Novartis AG | 2.1% |
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 1.9% |
Samsung Electronics Co. Ltd. | 1.7% |
Roche Holding AG | 1.7% |
LVMH Moet Hennessy Louis Vuitton SE | 1.6% |
Compagnie Financiere Richemont S.A. | 1.5% |
Eni S.p.A. | 1.5% |
KDDI Corp. | 1.4% |
DBS Group Holdings Ltd. | 1.4% |
Financials | 19.8% |
Consumer Discretionary | 12.6% |
Industrials | 12.3% |
Information Technology | 12.1% |
Health Care | 10.3% |
Consumer Staples | 8.1% |
Materials | 7.8% |
Energy | 6.1% |
Communication Services | 6.1% |
Utilities | 2.4% |
Real Estate | 1.3% |
Equity Warrants (o) | 0.0% |
Japan | 15.0% |
United Kingdom | 10.4% |
France | 8.9% |
China | 8.7% |
Canada | 8.1% |
Switzerland | 7.1% |
South Korea | 4.6% |
Netherlands | 4.3% |
Australia | 3.8% |
Other Countries | 29.1% |
Euro | 23.0% |
Japanese Yen | 15.0% |
British Pound Sterling | 10.4% |
Hong Kong Dollar | 9.1% |
Canadian Dollar | 8.1% |
Swiss Franc | 7.1% |
South Korean Won | 4.6% |
United States Dollar | 4.0% |
Australian Dollar | 3.8% |
Other Currencies | 14.9% |
(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. |
(o) | Less than 0.1%. |
(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 and Other. |
(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. |
(b) | Security is not a benchmark constituent. |
(h) | Security was not held in the portfolio at period end. |
Share Class | Class Inception Date | 1-yr | 5-yr | Life (t) |
A | 9/15/15 | 13.60% | 4.23% | 5.25% |
B | 9/15/15 | 12.81% | 3.42% | 4.44% |
C | 9/15/15 | 12.72% | 3.42% | 4.44% |
I | 9/15/15 | 13.92% | 4.46% | 5.49% |
R1 | 9/15/15 | 12.68% | 3.41% | 4.44% |
R2 | 9/15/15 | 13.31% | 3.93% | 4.96% |
R3 | 9/15/15 | 13.67% | 4.20% | 5.25% |
R4 | 9/15/15 | 13.83% | 4.45% | 5.50% |
R6 | 9/15/15 | 13.94% | 4.56% | 5.57% |
MSCI All Country World (ex-US) Index (net div) (f) | 11.89% | 3.33% | 5.38% |
A With Initial Sales Charge (5.75%) | 7.07% | 3.00% | 4.47% |
B With CDSC (Declining over six years from 4% to 0%) (v) | 8.81% | 3.07% | 4.44% |
C With CDSC (1% for 12 months) (v) | 11.72% | 3.42% | 4.44% |
(f) | Source: FactSet Research Systems Inc. |
(t) | For the period from the class inception date through the stated period end. (See Notes to Performance Summary.) |
(v) | Assuming redemption at the end of the applicable period. |
(e) | Morgan Stanley Capital International (“MSCI”) makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed, or produced by MSCI. |
March 1, 2023 through August 31, 2023
Share Class | Annualized Expense Ratio | Beginning Account Value 3/01/23 | Ending Account Value 8/31/23 | Expenses Paid During Period (p) 3/01/23-8/31/23 | |
A | Actual | 0.89% | $1,000.00 | $1,035.56 | $4.57 |
Hypothetical (h) | 0.89% | $1,000.00 | $1,020.72 | $4.53 | |
B | Actual | 1.64% | $1,000.00 | $1,031.97 | $8.40 |
Hypothetical (h) | 1.64% | $1,000.00 | $1,016.94 | $8.34 | |
C | Actual | 1.64% | $1,000.00 | $1,032.09 | $8.40 |
Hypothetical (h) | 1.64% | $1,000.00 | $1,016.94 | $8.34 | |
I | Actual | 0.64% | $1,000.00 | $1,036.91 | $3.29 |
Hypothetical (h) | 0.64% | $1,000.00 | $1,021.98 | $3.26 | |
R1 | Actual | 1.64% | $1,000.00 | $1,031.45 | $8.40 |
Hypothetical (h) | 1.64% | $1,000.00 | $1,016.94 | $8.34 | |
R2 | Actual | 1.14% | $1,000.00 | $1,033.63 | $5.84 |
Hypothetical (h) | 1.14% | $1,000.00 | $1,019.46 | $5.80 | |
R3 | Actual | 0.89% | $1,000.00 | $1,035.97 | $4.57 |
Hypothetical (h) | 0.89% | $1,000.00 | $1,020.72 | $4.53 | |
R4 | Actual | 0.64% | $1,000.00 | $1,036.87 | $3.29 |
Hypothetical (h) | 0.64% | $1,000.00 | $1,021.98 | $3.26 | |
R6 | Actual | 0.56% | $1,000.00 | $1,036.84 | $2.88 |
Hypothetical (h) | 0.56% | $1,000.00 | $1,022.38 | $2.85 |
(h) | 5% class return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – 98.1% | ||||
Aerospace & Defense – 0.7% | ||||
Thales S.A. | 29,764 | $4,350,617 | ||
Airlines – 0.8% | ||||
Air Canada (a) | 294,688 | $4,976,895 | ||
Alcoholic Beverages – 1.1% | ||||
Ambev S.A. | 415,500 | $1,161,240 | ||
Kirin Holdings Co. Ltd. | 397,100 | 5,584,155 | ||
$6,745,395 | ||||
Apparel Manufacturers – 3.4% | ||||
Burberry Group PLC | 70,212 | $1,942,548 | ||
Compagnie Financiere Richemont S.A. | 64,727 | 9,203,273 | ||
LVMH Moet Hennessy Louis Vuitton SE | 11,641 | 9,873,652 | ||
$21,019,473 | ||||
Automotive – 2.5% | ||||
BYD Co. Ltd. | 92,500 | $2,899,195 | ||
DENSO Corp. | 41,000 | 2,806,413 | ||
Kia Corp. | 34,354 | 2,084,502 | ||
Mahindra & Mahindra Ltd. | 266,022 | 5,062,327 | ||
Stellantis N.V. | 143,690 | 2,676,198 | ||
$15,528,635 | ||||
Biotechnology – 0.2% | ||||
CSL Ltd. | 7,080 | $1,254,815 | ||
Brokerage & Asset Managers – 1.1% | ||||
Hong Kong Exchanges & Clearing Ltd. | 32,700 | $1,267,579 | ||
iA Financial Corp., Inc. | 41,165 | 2,582,562 | ||
IG Group Holdings PLC | 348,703 | 2,988,349 | ||
$6,838,490 | ||||
Business Services – 1.6% | ||||
CGI, Inc. (a) | 33,863 | $3,531,155 | ||
Serco Group PLC | 1,301,429 | 2,520,785 | ||
Tata Consultancy Services Ltd. | 47,545 | 1,927,845 | ||
TIS, Inc. | 71,800 | 1,696,117 | ||
$9,675,902 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Chemicals – 1.1% | ||||
Nutrien Ltd. | 71,257 | $4,513,681 | ||
UPL Ltd. | 310,665 | 2,218,359 | ||
$6,732,040 | ||||
Computer Software – 1.8% | ||||
Check Point Software Technologies Ltd. (a) | 49,411 | $6,650,226 | ||
Kingsoft Corp. | 814,200 | 3,249,595 | ||
Wisetech Global Ltd. | 24,835 | 1,118,383 | ||
$11,018,204 | ||||
Computer Software - Systems – 5.4% | ||||
Amadeus IT Group S.A. | 31,072 | $2,132,763 | ||
Constellation Software, Inc. | 3,175 | 6,521,674 | ||
Fujitsu Ltd. | 30,000 | 3,753,737 | ||
Hitachi Ltd. | 79,200 | 5,276,915 | ||
Hon Hai Precision Industry Co. Ltd. | 1,505,000 | 5,032,971 | ||
Samsung Electronics Co. Ltd. | 213,805 | 10,821,679 | ||
$33,539,739 | ||||
Construction – 0.9% | ||||
CEMEX S.A.B. de C.V. (a) | 2,513,374 | $1,982,633 | ||
Heidelberg Materials AG | 41,594 | 3,350,212 | ||
$5,332,845 | ||||
Consumer Products – 0.8% | ||||
AmorePacific Corp. | 20,542 | $2,081,009 | ||
Reckitt Benckiser Group PLC | 37,794 | 2,729,970 | ||
$4,810,979 | ||||
Containers – 0.7% | ||||
Brambles Ltd. | 302,911 | $2,938,179 | ||
Viscofan S.A. | 19,613 | 1,276,042 | ||
$4,214,221 | ||||
Electrical Equipment – 2.5% | ||||
Legrand S.A. | 18,800 | $1,857,146 | ||
Mitsubishi Electric Corp. | 503,300 | 6,569,069 | ||
Schneider Electric SE | 40,531 | 6,969,561 | ||
$15,395,776 | ||||
Electronics – 5.5% | ||||
ASML Holding N.V. | 20,776 | $13,695,055 | ||
Novatek Microelectronics Corp. | 161,000 | 2,019,672 | ||
NXP Semiconductors N.V. | 11,422 | 2,349,734 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Electronics – continued | ||||
Renesas Electronics Corp. (a) | 250,800 | $4,224,100 | ||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 123,565 | 11,561,977 | ||
$33,850,538 | ||||
Energy - Independent – 0.2% | ||||
Canadian Natural Resources Ltd. | 20,907 | $1,352,642 | ||
Energy - Integrated – 5.9% | ||||
Cenovus Energy, Inc. | 199,845 | $3,984,476 | ||
China Petroleum & Chemical Corp. | 10,700,000 | 6,262,536 | ||
Eni S.p.A. | 586,297 | 9,081,074 | ||
LUKOIL PJSC (a)(u) | 35,153 | 0 | ||
Petroleo Brasileiro S.A., ADR | 332,049 | 4,665,288 | ||
Suncor Energy, Inc. (l) | 124,442 | 4,215,298 | ||
TotalEnergies SE | 132,676 | 8,354,374 | ||
$36,563,046 | ||||
Engineering - Construction – 0.5% | ||||
Doosan Bobcat, Inc. | 79,227 | $3,224,825 | ||
Food & Beverages – 1.6% | ||||
AVI Ltd. | 406,647 | $1,561,990 | ||
Ezaki Glico Co. Ltd. | 119,200 | 3,147,643 | ||
Gruma S.A.B. de C.V. | 162,784 | 2,717,411 | ||
Nestle S.A. | 20,166 | 2,429,006 | ||
$9,856,050 | ||||
Food & Drug Stores – 2.3% | ||||
Loblaw Cos. Ltd. | 31,946 | $2,773,997 | ||
Sugi Holdings Co. Ltd. | 60,300 | 2,710,070 | ||
Tesco PLC | 2,536,588 | 8,537,866 | ||
$14,021,933 | ||||
Furniture & Appliances – 0.7% | ||||
Howden Joinery Group PLC | 498,873 | $4,675,329 | ||
Gaming & Lodging – 1.5% | ||||
Aristocrat Leisure Ltd. | 108,323 | $2,870,685 | ||
Flutter Entertainment PLC (a) | 6,271 | 1,141,714 | ||
Sands China Ltd. (a) | 515,200 | 1,744,191 | ||
Whitbread PLC | 86,125 | 3,753,146 | ||
$9,509,736 | ||||
General Merchandise – 0.8% | ||||
B&M European Value Retail S.A. | 681,070 | $4,983,412 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Insurance – 5.3% | ||||
AUB Group Ltd. | 72,606 | $1,450,399 | ||
China Pacific Insurance Co. Ltd. | 2,507,600 | 5,742,730 | ||
Fairfax Financial Holdings Ltd. | 5,396 | 4,449,823 | ||
Manulife Financial Corp. | 454,548 | 8,403,352 | ||
Ping An Insurance Co. of China Ltd., “H” | 854,000 | 5,112,664 | ||
Samsung Fire & Marine Insurance Co. Ltd. | 29,707 | 5,540,212 | ||
Tokio Marine Holding, Inc. | 106,400 | 2,359,894 | ||
$33,059,074 | ||||
Internet – 2.7% | ||||
Moneysupermarket.com Group PLC | 874,877 | $2,753,001 | ||
NetEase, Inc., ADR | 54,479 | 5,637,487 | ||
Tencent Holdings Ltd. | 205,700 | 8,524,550 | ||
$16,915,038 | ||||
Leisure & Toys – 0.8% | ||||
Sankyo Co. Ltd. | 114,700 | $5,002,038 | ||
Machinery & Tools – 2.0% | ||||
GEA Group AG | 68,402 | $2,699,852 | ||
OSG Corp. | 220,700 | 2,789,562 | ||
Volvo Group | 344,482 | 6,959,804 | ||
$12,449,218 | ||||
Major Banks – 8.3% | ||||
ABN AMRO Group N.V., GDR | 425,980 | $6,279,689 | ||
Bank of China Ltd. | 4,278,000 | 1,451,029 | ||
Bank of Ireland Group PLC | 344,822 | 3,439,205 | ||
BNP Paribas | 126,549 | 8,193,614 | ||
DBS Group Holdings Ltd. | 349,500 | 8,611,750 | ||
Erste Group Bank AG | 87,008 | 3,110,626 | ||
National Australia Bank Ltd. | 181,409 | 3,404,073 | ||
NatWest Group PLC | 1,745,718 | 5,095,237 | ||
Nedbank Group Ltd. | 215,820 | 2,466,302 | ||
UBS Group AG | 173,568 | 4,617,477 | ||
UniCredit S.p.A. | 201,080 | 4,920,100 | ||
$51,589,102 | ||||
Medical & Health Technology & Services – 1.2% | ||||
Fresenius Medical Care AG & Co. KGaA | 60,726 | $2,933,540 | ||
OdontoPrev S.A. | 711,700 | 1,486,047 | ||
Sonic Healthcare Ltd. | 136,717 | 2,848,919 | ||
$7,268,506 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Medical Equipment – 1.3% | ||||
Fisher & Paykel Healthcare Corp. Ltd. | 146,658 | $1,986,039 | ||
Olympus Corp. | 448,700 | 6,076,933 | ||
$8,062,972 | ||||
Metals & Mining – 3.3% | ||||
Glencore PLC | 1,427,126 | $7,619,320 | ||
Rio Tinto PLC | 116,131 | 7,168,162 | ||
Sojitz Corp. | 145,800 | 3,138,566 | ||
Vale S.A. | 181,400 | 2,383,965 | ||
$20,310,013 | ||||
Other Banks & Diversified Financials – 5.0% | ||||
Bangkok Bank Public Co. Ltd. | 710,000 | $3,436,710 | ||
China Construction Bank Corp. | 8,335,000 | 4,463,840 | ||
Credicorp Ltd. | 17,190 | 2,431,182 | ||
Emirates NBD PJSC | 360,775 | 1,605,955 | ||
Hana Financial Group, Inc. | 82,812 | 2,477,938 | ||
Julius Baer Group Ltd. | 62,593 | 4,354,973 | ||
KB Financial Group, Inc. | 57,369 | 2,348,147 | ||
Komercní banka A.S. | 99,404 | 3,110,322 | ||
Macquarie Group Ltd. | 38,459 | 4,423,960 | ||
Sberbank of Russia PJSC (a)(u) | 715,224 | 0 | ||
Tisco Financial Group PCL | 828,500 | 2,436,939 | ||
$31,089,966 | ||||
Pharmaceuticals – 7.6% | ||||
Astellas Pharma, Inc. | 87,300 | $1,328,746 | ||
Bayer AG | 131,101 | 7,184,738 | ||
Chugai Pharmaceutical Co. Ltd. | 73,300 | 2,245,425 | ||
Novartis AG | 126,943 | 12,834,414 | ||
Roche Holding AG | 35,698 | 10,519,261 | ||
Sanofi | 79,157 | 8,466,659 | ||
Santen Pharmaceutical Co. Ltd. | 498,900 | 4,644,559 | ||
$47,223,802 | ||||
Printing & Publishing – 1.3% | ||||
Transcontinental, Inc., “A” | 134,901 | $1,320,855 | ||
Wolters Kluwer N.V. | 55,588 | 6,702,789 | ||
$8,023,644 | ||||
Railroad & Shipping – 0.5% | ||||
Sankyu, Inc. | 90,900 | $3,176,299 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Real Estate – 1.1% | ||||
Canadian Apartment Properties, REIT | 54,128 | $1,941,669 | ||
CapitaLand India Trusts IEU, REIT | 1,899,464 | 1,630,381 | ||
Charter Hall Group, REIT | 166,368 | 1,168,532 | ||
Goodman Group, REIT | 135,630 | 2,052,911 | ||
$6,793,493 | ||||
Restaurants – 1.5% | ||||
Sodexo | 67,473 | $7,244,737 | ||
Wetherspoons (J.D.) PLC (a) | 200,518 | 1,836,536 | ||
$9,081,273 | ||||
Specialty Chemicals – 2.3% | ||||
Linde PLC | 16,823 | $6,511,174 | ||
Nitto Denko Corp. | 92,700 | 6,338,859 | ||
Sumitomo Corp. | 80,100 | 1,651,053 | ||
$14,501,086 | ||||
Specialty Stores – 2.5% | ||||
Alibaba Group Holding Ltd. (a) | 665,600 | $7,655,501 | ||
JD.com, Inc., “A” | 73,595 | 1,208,698 | ||
Multiplan Empreendimentos Imobiliarios S.A. | 224,095 | 1,119,559 | ||
Vipshop Holdings Ltd., ADR (a) | 110,291 | 1,741,495 | ||
Walmart de Mexico S.A.B. de C.V. | 935,047 | 3,683,593 | ||
$15,408,846 | ||||
Telecommunications - Wireless – 2.3% | ||||
KDDI Corp. | 291,600 | $8,668,133 | ||
PT Telekom Indonesia | 19,167,800 | 4,694,412 | ||
Vodafone Group PLC | 1,342,777 | 1,245,323 | ||
$14,607,868 | ||||
Telephone Services – 0.5% | ||||
Hellenic Telecommunications Organization S.A. | 200,025 | $2,993,182 | ||
Tobacco – 1.6% | ||||
British American Tobacco PLC | 192,263 | $6,387,325 | ||
Japan Tobacco, Inc. | 163,200 | 3,579,307 | ||
$9,966,632 | ||||
Trucking – 1.0% | ||||
Yamato Holdings Co. Ltd. | 317,100 | $5,964,082 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Utilities - Electric Power – 2.4% | ||||
CLP Holdings Ltd. | 199,500 | $1,564,486 | ||
E.ON SE | 530,847 | 6,550,604 | ||
Iberdrola S.A. | 579,350 | 6,885,275 | ||
$15,000,365 | ||||
Total Common Stocks (Identified Cost, $550,630,099) | $607,958,036 | |||
Preferred Stocks – 0.8% | ||||
Metals & Mining – 0.8% | ||||
Gerdau S.A. (Identified Cost, $4,404,175) | 939,130 | $4,902,315 |
Strike Price | First Exercise | |||
Rights – 0.0% | ||||
Computer Software - Systems – 0.0% | ||||
Constellation Software, Inc. (CAD 100 principal amount of Series 1 Debentures for 3.03 rights, Expiration 10/13/23) (a) (Identified Cost, $1,400) | CAD 133 | 8/31/23 | 3,156 | $1,752 |
Warrants – 0.0% | ||||
Computer Software - Systems – 0.0% | ||||
Constellation Software, Inc. (CAD 100 principal amount of Series 2 Debentures for 1 warrant, Expiration 3/31/40) (a) (Identified Cost, $0) | CAD 11.5 | N/A | 3,156 | $0 |
Investment Companies (h) – 1.0% | ||||
Money Market Funds – 1.0% | ||||
MFS Institutional Money Market Portfolio, 5.3% (v) (Identified Cost, $6,449,121) | 6,449,120 | $6,449,765 | ||
Collateral for Securities Loaned – 0.4% | ||||
State Street Navigator Securities Lending Government Money Market Portfolio, 5.34% (j) (Identified Cost, $2,187,665) | 2,187,665 | $2,187,665 | ||
Other Assets, Less Liabilities – (0.3)% | (1,560,719) | |||
Net Assets – 100.0% | $619,938,814 |
(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 $6,449,765 and $615,049,768, 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 |
Abbreviations indicate amounts shown in currencies other than the U.S. dollar. All amounts are stated in U.S. dollars unless otherwise indicated. A list of abbreviations is shown below: | |
CAD | Canadian Dollar |
Assets | |
Investments in unaffiliated issuers, at value, including $2,060,547 of securities on loan (identified cost, $557,223,339) | $615,049,768 |
Investments in affiliated issuers, at value (identified cost, $6,449,121) | 6,449,765 |
Foreign currency, at value (identified cost, $27,824) | 27,886 |
Receivables for | |
Investments sold | 1,481,028 |
Fund shares sold | 280,688 |
Interest and dividends | 2,965,212 |
Receivable from investment adviser | 26,060 |
Other assets | 465 |
Total assets | $626,280,872 |
Liabilities | |
Payables for | |
Investments purchased | $2,567,890 |
Fund shares reacquired | 1,129,686 |
Collateral for securities loaned, at value (c) | 2,187,665 |
Payable to affiliates | |
Administrative services fee | 545 |
Shareholder servicing costs | 102,447 |
Distribution and service fees | 557 |
Payable for independent Trustees' compensation | 13 |
Deferred foreign capital gains tax expense payable | 145,901 |
Accrued expenses and other liabilities | 207,354 |
Total liabilities | $6,342,058 |
Net assets | $619,938,814 |
Net assets consist of | |
Paid-in capital | $573,798,770 |
Total distributable earnings (loss) | 46,140,044 |
Net assets | $619,938,814 |
Shares of beneficial interest outstanding | 52,460,246 |
(c) | Non-cash collateral is not included. |
Net assets | Shares outstanding | Net asset value per share (a) | |
Class A | $27,915,757 | 2,338,099 | $11.94 |
Class B | 153,892 | 13,245 | 11.62 |
Class C | 417,646 | 36,067 | 11.58 |
Class I | 251,004,451 | 21,272,735 | 11.80 |
Class R1 | 878,779 | 76,530 | 11.48 |
Class R2 | 2,744,199 | 234,884 | 11.68 |
Class R3 | 1,227,677 | 103,984 | 11.81 |
Class R4 | 391,215 | 33,126 | 11.81 |
Class R6 | 335,205,198 | 28,351,576 | 11.82 |
(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 $12.67 [100 / 94.25 x $11.94]. 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 | $22,971,400 |
Dividends from affiliated issuers | 235,703 |
Other | 51,024 |
Income on securities loaned | 22,732 |
Foreign taxes withheld | (2,141,244) |
Total investment income | $21,139,615 |
Expenses | |
Management fee | $2,827,322 |
Distribution and service fees | 89,127 |
Shareholder servicing costs | 237,869 |
Administrative services fee | 92,712 |
Independent Trustees' compensation | 11,409 |
Custodian fee | 267,078 |
Shareholder communications | 19,419 |
Audit and tax fees | 89,013 |
Legal fees | 3,286 |
Miscellaneous | 200,349 |
Total expenses | $3,837,584 |
Reduction of expenses by investment adviser | (379,425) |
Net expenses | $3,458,159 |
Net investment income (loss) | $17,681,456 |
Realized and unrealized gain (loss) | |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers | $(21,335,868) |
Affiliated issuers | (2,239) |
Foreign currency | (41,596) |
Net realized gain (loss) | $(21,379,703) |
Change in unrealized appreciation or depreciation | |
Unaffiliated issuers (net of $29,433 increase in deferred foreign capital gains tax) | $78,306,099 |
Affiliated issuers | 369 |
Translation of assets and liabilities in foreign currencies | 87,578 |
Net unrealized gain (loss) | $78,394,046 |
Net realized and unrealized gain (loss) | $57,014,343 |
Change in net assets from operations | $74,695,799 |
Year ended | ||
8/31/23 | 8/31/22 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $17,681,456 | $13,597,485 |
Net realized gain (loss) | (21,379,703) | 7,154,585 |
Net unrealized gain (loss) | 78,394,046 | (104,963,630) |
Change in net assets from operations | $74,695,799 | $(84,211,560) |
Total distributions to shareholders | $(14,738,424) | $(29,920,932) |
Change in net assets from fund share transactions | $70,429,407 | $175,854,988 |
Total change in net assets | $130,386,782 | $61,722,496 |
Net assets | ||
At beginning of period | 489,552,032 | 427,829,536 |
At end of period | $619,938,814 | $489,552,032 |
Class A | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $10.77 | $13.71 | $10.79 | $10.37 | $11.71 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.33 | $0.31 | $0.31 | $0.25 | $0.30 |
Net realized and unrealized gain (loss) | 1.12 | (2.57) | 2.87 | 0.47 | (1.01) |
Total from investment operations | $1.45 | $(2.26) | $3.18 | $0.72 | $(0.71) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.19) | $(0.11) | $(0.26) | $(0.30) | $(0.26) |
From net realized gain | (0.09) | (0.57) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.28) | $(0.68) | $(0.26) | $(0.30) | $(0.63) |
Net asset value, end of period (x) | $11.94 | $10.77 | $13.71 | $10.79 | $10.37 |
Total return (%) (r)(s)(t)(x) | 13.60 | (17.24) | 29.82 | 6.85 | (5.67) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 0.96 | 0.95 | 0.98 | 0.99 | 1.00 |
Expenses after expense reductions | 0.89 | 0.89 | 0.89 | 0.89 | 0.89 |
Net investment income (loss) | 2.90 | 2.44 | 2.45 | 2.39 | 2.80 |
Portfolio turnover | 56 | 52 | 68 | 72 | 58 |
Net assets at end of period (000 omitted) | $27,916 | $18,999 | $110,106 | $93,455 | $84,917 |
Class B | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $10.49 | $13.61 | $10.72 | $10.32 | $11.64 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.23 | $0.23 | $0.22 | $0.17 | $0.24 |
Net realized and unrealized gain (loss) | 1.10 | (2.55) | 2.85 | 0.47 | (1.02) |
Total from investment operations | $1.33 | $(2.32) | $3.07 | $0.64 | $(0.78) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.11) | $(0.23) | $(0.18) | $(0.24) | $(0.17) |
From net realized gain | (0.09) | (0.57) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.20) | $(0.80) | $(0.18) | $(0.24) | $(0.54) |
Net asset value, end of period (x) | $11.62 | $10.49 | $13.61 | $10.72 | $10.32 |
Total return (%) (r)(s)(t)(x) | 12.81 | (17.99) | 28.84 | 6.06 | (6.41) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 1.71 | 1.70 | 1.72 | 1.74 | 1.75 |
Expenses after expense reductions | 1.64 | 1.64 | 1.64 | 1.64 | 1.64 |
Net investment income (loss) | 2.05 | 1.85 | 1.75 | 1.61 | 2.28 |
Portfolio turnover | 56 | 52 | 68 | 72 | 58 |
Net assets at end of period (000 omitted) | $154 | $161 | $210 | $148 | $152 |
Class C | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $10.48 | $13.59 | $10.70 | $10.28 | $11.59 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.23 | $0.23 | $0.23 | $0.17 | $0.22 |
Net realized and unrealized gain (loss) | 1.09 | (2.53) | 2.83 | 0.47 | (1.00) |
Total from investment operations | $1.32 | $(2.30) | $3.06 | $0.64 | $(0.78) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.13) | $(0.24) | $(0.17) | $(0.22) | $(0.16) |
From net realized gain | (0.09) | (0.57) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.22) | $(0.81) | $(0.17) | $(0.22) | $(0.53) |
Net asset value, end of period (x) | $11.58 | $10.48 | $13.59 | $10.70 | $10.28 |
Total return (%) (r)(s)(t)(x) | 12.72 | (17.91) | 28.78 | 6.08 | (6.42) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 1.71 | 1.70 | 1.72 | 1.74 | 1.75 |
Expenses after expense reductions | 1.64 | 1.64 | 1.64 | 1.64 | 1.64 |
Net investment income (loss) | 2.10 | 1.90 | 1.82 | 1.64 | 2.04 |
Portfolio turnover | 56 | 52 | 68 | 72 | 58 |
Net assets at end of period (000 omitted) | $418 | $330 | $382 | $220 | $240 |
Class I | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $10.63 | $13.78 | $10.84 | $10.42 | $11.77 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.36 | $0.37 | $0.38 | $0.31 | $0.31 |
Net realized and unrealized gain (loss) | 1.10 | (2.59) | 2.84 | 0.44 | (1.00) |
Total from investment operations | $1.46 | $(2.22) | $3.22 | $0.75 | $(0.69) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.20) | $(0.36) | $(0.28) | $(0.33) | $(0.29) |
From net realized gain | (0.09) | (0.57) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.29) | $(0.93) | $(0.28) | $(0.33) | $(0.66) |
Net asset value, end of period (x) | $11.80 | $10.63 | $13.78 | $10.84 | $10.42 |
Total return (%) (r)(s)(t)(x) | 13.92 | (17.13) | 30.14 | 7.09 | (5.45) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 0.71 | 0.70 | 0.72 | 0.75 | 0.75 |
Expenses after expense reductions | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 |
Net investment income (loss) | 3.14 | 3.09 | 2.91 | 3.06 | 2.89 |
Portfolio turnover | 56 | 52 | 68 | 72 | 58 |
Net assets at end of period (000 omitted) | $251,004 | $176,391 | $22,325 | $5,183 | $1,652 |
Class R1 | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $10.44 | $13.51 | $10.65 | $10.24 | $11.63 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.23 | $0.23 | $0.22 | $0.17 | $0.22 |
Net realized and unrealized gain (loss) | 1.08 | (2.53) | 2.82 | 0.47 | (1.01) |
Total from investment operations | $1.31 | $(2.30) | $3.04 | $0.64 | $(0.79) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.18) | $(0.20) | $(0.18) | $(0.23) | $(0.23) |
From net realized gain | (0.09) | (0.57) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.27) | $(0.77) | $(0.18) | $(0.23) | $(0.60) |
Net asset value, end of period (x) | $11.48 | $10.44 | $13.51 | $10.65 | $10.24 |
Total return (%) (r)(s)(t)(x) | 12.68 | (17.95) | 28.83 | 6.13 | (6.44) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 1.71 | 1.70 | 1.72 | 1.74 | 1.75 |
Expenses after expense reductions | 1.64 | 1.64 | 1.64 | 1.64 | 1.64 |
Net investment income (loss) | 2.08 | 1.95 | 1.74 | 1.63 | 2.09 |
Portfolio turnover | 56 | 52 | 68 | 72 | 58 |
Net assets at end of period (000 omitted) | $879 | $314 | $233 | $166 | $146 |
Class R2 | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $10.55 | $13.72 | $10.80 | $10.38 | $11.73 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.31 | $0.31 | $0.29 | $0.22 | $0.27 |
Net realized and unrealized gain (loss) | 1.08 | (2.57) | 2.86 | 0.47 | (1.01) |
Total from investment operations | $1.39 | $(2.26) | $3.15 | $0.69 | $(0.74) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.17) | $(0.34) | $(0.23) | $(0.27) | $(0.24) |
From net realized gain | (0.09) | (0.57) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.26) | $(0.91) | $(0.23) | $(0.27) | $(0.61) |
Net asset value, end of period (x) | $11.68 | $10.55 | $13.72 | $10.80 | $10.38 |
Total return (%) (r)(s)(t)(x) | 13.31 | (17.55) | 29.50 | 6.56 | (5.95) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 1.21 | 1.20 | 1.22 | 1.24 | 1.25 |
Expenses after expense reductions | 1.14 | 1.14 | 1.14 | 1.14 | 1.14 |
Net investment income (loss) | 2.76 | 2.61 | 2.30 | 2.12 | 2.54 |
Portfolio turnover | 56 | 52 | 68 | 72 | 58 |
Net assets at end of period (000 omitted) | $2,744 | $1,261 | $404 | $156 | $164 |
Class R3 | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $10.65 | $13.82 | $10.88 | $10.45 | $11.80 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.35 | $0.32 | $0.29 | $0.25 | $0.30 |
Net realized and unrealized gain (loss) | 1.09 | (2.58) | 2.91 | 0.49 | (1.02) |
Total from investment operations | $1.44 | $(2.26) | $3.20 | $0.74 | $(0.72) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.19) | $(0.34) | $(0.26) | $(0.31) | $(0.26) |
From net realized gain | (0.09) | (0.57) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.28) | $(0.91) | $(0.26) | $(0.31) | $(0.63) |
Net asset value, end of period (x) | $11.81 | $10.65 | $13.82 | $10.88 | $10.45 |
Total return (%) (r)(s)(t)(x) | 13.67 | (17.37) | 29.75 | 6.92 | (5.72) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 0.96 | 0.95 | 0.96 | 0.99 | 1.00 |
Expenses after expense reductions | 0.89 | 0.89 | 0.89 | 0.89 | 0.89 |
Net investment income (loss) | 3.08 | 2.64 | 2.22 | 2.37 | 2.79 |
Portfolio turnover | 56 | 52 | 68 | 72 | 58 |
Net assets at end of period (000 omitted) | $1,228 | $532 | $395 | $64 | $58 |
Class R4 | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $10.65 | $13.79 | $10.85 | $10.42 | $11.77 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.35 | $0.38 | $0.35 | $0.27 | $0.33 |
Net realized and unrealized gain (loss) | 1.11 | (2.59) | 2.87 | 0.49 | (1.02) |
Total from investment operations | $1.46 | $(2.21) | $3.22 | $0.76 | $(0.69) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.21) | $(0.36) | $(0.28) | $(0.33) | $(0.29) |
From net realized gain | (0.09) | (0.57) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.30) | $(0.93) | $(0.28) | $(0.33) | $(0.66) |
Net asset value, end of period (x) | $11.81 | $10.65 | $13.79 | $10.85 | $10.42 |
Total return (%) (r)(s)(t)(x) | 13.83 | (17.09) | 30.12 | 7.18 | (5.45) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 0.71 | 0.69 | 0.72 | 0.74 | 0.75 |
Expenses after expense reductions | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 |
Net investment income (loss) | 3.08 | 3.11 | 2.73 | 2.62 | 3.04 |
Portfolio turnover | 56 | 52 | 68 | 72 | 58 |
Net assets at end of period (000 omitted) | $391 | $329 | $81 | $62 | $58 |
Class R6 | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $10.65 | $13.80 | $10.85 | $10.43 | $11.78 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.35 | $0.37 | $0.36 | $0.29 | $0.34 |
Net realized and unrealized gain (loss) | 1.12 | (2.58) | 2.88 | 0.47 | (1.02) |
Total from investment operations | $1.47 | $(2.21) | $3.24 | $0.76 | $(0.68) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.21) | $(0.37) | $(0.29) | $(0.34) | $(0.30) |
From net realized gain | (0.09) | (0.57) | — | — | (0.37) |
Total distributions declared to shareholders | $(0.30) | $(0.94) | $(0.29) | $(0.34) | $(0.67) |
Net asset value, end of period (x) | $11.82 | $10.65 | $13.80 | $10.85 | $10.43 |
Total return (%) (r)(s)(t)(x) | 13.94 | (17.07) | 30.32 | 7.18 | (5.33) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 0.62 | 0.62 | 0.63 | 0.65 | 0.65 |
Expenses after expense reductions | 0.56 | 0.55 | 0.55 | 0.55 | 0.54 |
Net investment income (loss) | 3.13 | 3.02 | 2.82 | 2.76 | 3.13 |
Portfolio turnover | 56 | 52 | 68 | 72 | 58 |
Net assets at end of period (000 omitted) | $335,205 | $291,234 | $293,695 | $247,726 | $206,790 |
(d) | Per share data is based on average shares outstanding. |
(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 | $92,731,675 | $— | $— | $92,731,675 |
United Kingdom | 64,236,309 | — | — | 64,236,309 |
France | 55,310,360 | — | — | 55,310,360 |
China | 53,949,320 | — | — | 53,949,320 |
Canada | 50,569,831 | — | — | 50,569,831 |
Switzerland | 43,958,404 | — | — | 43,958,404 |
South Korea | 28,578,312 | — | — | 28,578,312 |
Netherlands | 26,677,533 | — | — | 26,677,533 |
Australia | 23,530,856 | — | — | 23,530,856 |
Other Countries | 167,445,854 | 5,873,649 | 0 | 173,319,503 |
Mutual Funds | 8,637,430 | — | — | 8,637,430 |
Total | $615,625,884 | $5,873,649 | $0 | $621,499,533 |
Year ended 8/31/23 | Year ended 8/31/22 | |
Ordinary income (including any short-term capital gains) | $10,343,305 | $21,674,755 |
Long-term capital gains | 4,395,119 | 8,246,177 |
Total distributions | $14,738,424 | $29,920,932 |
As of 8/31/23 | |
Cost of investments | $572,260,012 |
Gross appreciation | 74,785,970 |
Gross depreciation | (25,546,449) |
Net unrealized appreciation (depreciation) | $49,239,521 |
Undistributed ordinary income | 18,216,006 |
Capital loss carryforwards | (21,077,266) |
Other temporary differences | (238,217) |
Total distributable earnings (loss) | $46,140,044 |
Short-Term | $(9,915,198) |
Long-Term | (11,162,068) |
Total | $(21,077,266) |
Year ended 8/31/23 | 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% | $ 63,291 |
Class B | 0.75% | 0.25% | 1.00% | 1.00% | 1,515 |
Class C | 0.75% | 0.25% | 1.00% | 1.00% | 3,864 |
Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 7,733 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 10,397 |
Class R3 | — | 0.25% | 0.25% | 0.25% | 2,327 |
Total Distribution and Service Fees | $89,127 |
(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 year ended August 31, 2023 based on each class's average daily net assets. MFD has |
Amount | |
Class A | $371 |
Class B | 95 |
Class C | 57 |
Year ended 8/31/23 | Year ended 8/31/22 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | |||||
Class A | 1,185,812 | $13,339,784 | 1,445,475 | $17,524,904 | |
Class B | 327 | 3,827 | 668 | 8,309 | |
Class C | 14,132 | 155,634 | 6,194 | 74,819 | |
Class I | 9,780,227 | 107,922,482 | 16,753,472 | 213,740,458 | |
Class R1 | 47,712 | 495,278 | 23,544 | 281,698 | |
Class R2 | 185,751 | 2,154,293 | 99,816 | 1,250,964 | |
Class R3 | 74,714 | 870,256 | 24,821 | 282,831 | |
Class R4 | 1,381 | 15,628 | 24,615 | 270,767 | |
Class R6 | 7,020,399 | 77,491,175 | 7,030,731 | 81,862,937 | |
18,310,455 | $202,448,357 | 25,409,336 | $315,297,687 |
Year ended 8/31/23 | Year ended 8/31/22 | ||||
Shares | Amount | Shares | Amount | ||
Shares issued to shareholders in reinvestment of distributions | |||||
Class A | 48,487 | $546,445 | 56,642 | $721,057 | |
Class B | 257 | 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 | 8,596,530 | 1,602,737 | 20,130,376 | |
1,322,998 | $14,733,797 | 2,382,091 | $29,920,932 | ||
Shares reacquired | |||||
Class A | (660,168) | $(7,500,187) | (7,769,579) | $(106,761,644) | |
Class B | (2,669) | (28,943) | (1,760) | (21,687) | |
Class C | (10,280) | (113,992) | (4,495) | (57,633) | |
Class I | (5,590,963) | (62,844,924) | (2,495,424) | (30,029,655) | |
Class R1 | (2,904) | (32,072) | (11,584) | (154,529) | |
Class R2 | (73,424) | (852,422) | (15,246) | (175,941) | |
Class R3 | (22,102) | (259,340) | (5,747) | (65,981) | |
Class R4 | (14) | (152) | — | — | |
Class R6 | (6,786,078) | (75,120,715) | (2,572,890) | (32,096,561) | |
(13,148,602) | $(146,752,747) | (12,876,725) | $(169,363,631) | ||
Net change | |||||
Class A | 574,131 | $6,386,042 | (6,267,462) | $(88,515,683) | |
Class B | (2,085) | (22,278) | (103) | (1,045) | |
Class C | 4,524 | 49,029 | 3,436 | 38,807 | |
Class I | 4,684,200 | 50,581,243 | 14,968,879 | 192,631,727 | |
Class R1 | 46,457 | 481,176 | 12,833 | 138,003 | |
Class R2 | 115,391 | 1,335,723 | 90,090 | 1,144,026 | |
Class R3 | 54,035 | 626,778 | 21,403 | 246,197 | |
Class R4 | 2,196 | 24,704 | 25,048 | 276,204 | |
Class R6 | 1,006,002 | 10,966,990 | 6,060,578 | 69,896,752 | |
6,484,851 | $70,429,407 | 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 | $147,064,805 | $143,376,857 | $(2,239) | $369 | $6,449,765 |
Affiliated Issuers | Dividend Income | Capital Gain Distributions |
MFS Institutional Money Market Portfolio | $235,703 | $— |
October 16, 2023
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
INTERESTED TRUSTEE | ||||||||||
Michael W. Roberge (k) (age 57) | Trustee | January 2021 | 136 | Massachusetts Financial Services Company, Chairman (since January 2021); Chief Executive Officer (since January 2017); Director; Chairman of the Board (since January 2022); President (until December 2018); Chief Investment Officer (until December 2018) | N/A | |||||
INDEPENDENT TRUSTEES | ||||||||||
John P. Kavanaugh (age 68) | Trustee and Chair of Trustees | January 2009 | 136 | Private investor | N/A | |||||
Steven E. Buller (age 72) | Trustee | February 2014 | 136 | Private investor | N/A | |||||
John A. Caroselli (age 69) | Trustee | March 2017 | 136 | Private investor; JC Global Advisors, LLC (management consulting), President (since 2015) | N/A | |||||
Maureen R. Goldfarb (age 68) | Trustee | January 2009 | 136 | Private investor | N/A | |||||
Peter D. Jones (age 68) | Trustee | January 2019 | 136 | Private investor | N/A | |||||
James W. Kilman, Jr. (age 62) | Trustee | January 2019 | 136 | Burford Capital Limited (finance and investment management), Senior Advisor (since May 3, 2021), Chief Financial Officer (2019 - May 2, 2021); KielStrand Capital LLC (family office), Chief Executive Officer (since 2016) | Alpha-En Corporation, Director (2016-2019) |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
Clarence Otis, Jr. (age 67) | Trustee | March 2017 | 136 | Private investor | VF Corporation, Director; Verizon Communications, Inc., Director; The Travelers Companies, Director | |||||
Maryanne L. Roepke (age 67) | Trustee | May 2014 | 136 | Private investor | N/A | |||||
Laurie J. Thomsen (age 66) | Trustee | March 2005 | 136 | Private investor | The Travelers Companies, Director; Dycom Industries, Inc., Director |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
OFFICERS | ||||||||
Christopher R. Bohane (k) (age 49) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President and Senior Managing Counsel | ||||
Kino Clark (k) (age 55) | Assistant Treasurer | January 2012 | 136 | Massachusetts Financial Services Company, Vice President | ||||
John W. Clark, Jr. (k) (age 56) | Assistant Treasurer | April 2017 | 136 | Massachusetts Financial Services Company, Vice President | ||||
David L. DiLorenzo (k) (age 55) | President | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President | ||||
Heidi W. Hardin (k) (age 56) | Secretary and Clerk | April 2017 | 136 | Massachusetts Financial Services Company, Executive Vice President and General Counsel | ||||
Brian E. Langenfeld (k) (age 50) | Assistant Secretary and Assistant Clerk | June 2006 | 136 | Massachusetts Financial Services Company, Vice President and Managing Counsel |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
Rosa E. Licea-Mailloux (k) (age 47) | Chief Compliance Officer | March 2022 | 136 | Massachusetts Financial Services Company, Vice President (since 2018); Director of Corporate Compliance (2018-2021), Senior Director Compliance (2021-2022), Senior Managing Director of North American Compliance & Chief Compliance Officer (since March 2022); Natixis Investment Managers (investment management), Funds Chief Compliance Officer, Deputy General Counsel & Senior Vice President (until 2018) | ||||
Amanda S. Mooradian (k) (age 44) | Assistant Secretary and Assistant Clerk | September 2018 | 136 | Massachusetts Financial Services Company, Assistant Vice President and Senior Counsel | ||||
Susan A. Pereira (k) (age 52) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Vice President and Managing Counsel | ||||
Kasey L. Phillips (k) (age 52) | Assistant Treasurer | September 2012 | 136 | Massachusetts Financial Services Company, Vice President | ||||
Matthew A. Stowe (k) (age 48) | Assistant Secretary and Assistant Clerk | October 2014 | 136 | Massachusetts Financial Services Company, Vice President and Senior Managing Counsel | ||||
William B. Wilson (k) (age 41) | Assistant Secretary and Assistant Clerk | October 2022 | 136 | Massachusetts Financial Services Company, Assistant Vice President and Senior Counsel | ||||
James O. Yost (k) (age 63) | Treasurer | September 1990 | 136 | Massachusetts Financial Services Company, Senior Vice President |
(h) | Date first appointed to serve as Trustee/Officer of an MFS Fund. Each Trustee has served continuously since appointment unless indicated otherwise. From January 2012 through December 2016, Messrs. DiLorenzo and Yost served as Treasurer and Deputy Treasurer of the Funds, respectively. |
(j) | Directorships or trusteeships of companies required to report to the Securities and Exchange Commission (i.e., “public companies”). |
(k) | “Interested person” of the Trust within the meaning of the Investment Company Act of 1940 (referred to as the 1940 Act), which is the principal federal law governing investment companies like the fund, as a result of a position with MFS. The address of MFS is 111 Huntington Avenue, Boston, Massachusetts 02199-7618. |
Investment Adviser | Custodian |
Massachusetts Financial Services Company 111 Huntington Avenue Boston, MA 02199-7618 | State Street Bank and Trust Company 1 Congress Street, Suite 1 Boston, MA 02114-2016 |
Distributor | Independent Registered Public Accounting Firm |
MFS Fund Distributors, Inc. 111 Huntington Avenue Boston, MA 02199-7618 | Ernst & Young LLP 200 Clarendon Street Boston, MA 02116 |
Portfolio Manager(s) | |
Jim Fallon Matt Krummell Jonathan Sage Jed Stocks |
FACTS | WHAT DOES MFS DO WITH YOUR PERSONAL INFORMATION? |
Why? | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
What? | The types of personal information we collect and share depend on the product or service you have with us. This information can include: |
• Social Security number and account balances | |
• Account transactions and transaction history | |
• Checking account information and wire transfer instructions | |
When you are no longer our customer, we continue to share your information as described in this notice. |
How? | All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons MFS chooses to share; and whether you can limit this sharing. |
Reasons we can share your personal information | Does MFS share? | Can you limit this sharing? |
For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus | Yes | No |
For our marketing purposes – to offer our products and services to you | No | We don't share |
For joint marketing with other financial companies | No | We don't share |
For our affiliates' everyday business purposes – information about your transactions and experiences | No | We don't share |
For our affiliates' everyday business purposes – information about your creditworthiness | No | We don't share |
For nonaffiliates to market to you | No | We don't share |
Questions? | Call 800-225-2606 or go to mfs.com. |
Who we are | |
Who is providing this notice? | MFS Funds, MFS Investment Management, MFS Institutional Advisors, Inc., and MFS Heritage Trust Company. |
What we do | |
How does MFS protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include procedural, electronic, and physical safeguards for the protection of the personal information we collect about you. |
How does MFS collect my personal information? | We collect your personal information, for example, when you |
• open an account or provide account information | |
• direct us to buy securities or direct us to sell your securities | |
• make a wire transfer | |
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. | |
Why can't I limit all sharing? | Federal law gives you the right to limit only |
• sharing for affiliates' everyday business purposes – information about your creditworthiness | |
• affiliates from using your information to market to you | |
• sharing for nonaffiliates to market to you | |
State laws and individual companies may give you additional rights to limit sharing. |
Definitions | |
Affiliates | Companies related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share personal information with affiliates, except for everyday business purposes as described on page one of this notice. | |
Nonaffiliates | Companies not related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share with nonaffiliates so they can market to you. | |
Joint marketing | A formal agreement between nonaffiliated financial companies that together market financial products or services to you. |
• MFS doesn't jointly market. |
Other important information |
If you own an MFS product or receive an MFS service in the name of a third party such as a bank or broker-dealer, their privacy policy may apply to you instead of ours. |
Discovery Fund
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back cover |
ICON PLC | 2.1% |
AUB Group Ltd. | 2.0% |
Howmet Aerospace, Inc. | 2.0% |
NS Solutions Corp. | 1.9% |
Cranswick PLC | 1.9% |
STERIS PLC | 1.9% |
GFL Environmental, Inc. | 1.9% |
ASM International N.V. | 1.7% |
Gerresheimer AG | 1.7% |
LKQ Corp. | 1.7% |
Industrials | 26.6% |
Consumer Discretionary | 13.7% |
Materials | 11.3% |
Information Technology | 10.5% |
Health Care | 9.5% |
Financials | 8.4% |
Real Estate | 6.5% |
Consumer Staples | 4.5% |
Communication Services | 4.3% |
Energy | 2.7% |
United States | 39.0% |
United Kingdom | 11.9% |
Japan | 10.2% |
Germany | 6.3% |
Canada | 5.1% |
Netherlands | 3.9% |
France | 3.5% |
Australia | 2.9% |
Brazil | 2.1% |
Other Countries | 15.1% |
United States Dollar | 43.1% |
Euro | 17.8% |
British Pound Sterling | 11.9% |
Japanese Yen | 10.2% |
Australian Dollar | 2.9% |
Brazilian Real | 2.1% |
Swiss Franc | 2.0% |
Canadian Dollar | 1.7% |
Norwegian Krone | 1.7% |
Other Currencies | 6.6% |
(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 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. |
(b) | Security is not a benchmark constituent. |
(h) | Security was not held in the portfolio at period end. |
Share Class | Class Inception Date | 1-yr | 5-yr | 10-yr |
A | 12/16/11 | 12.84% | 4.21% | 7.13% |
B | 12/16/11 | 12.03% | 3.44% | 6.33% |
C | 12/16/11 | 11.97% | 3.43% | 6.32% |
I | 12/16/11 | 13.13% | 4.47% | 7.39% |
R1 | 12/16/11 | 11.98% | 3.44% | 6.32% |
R2 | 12/16/11 | 12.56% | 3.94% | 6.85% |
R3 | 12/16/11 | 12.84% | 4.22% | 7.13% |
R4 | 12/16/11 | 13.18% | 4.48% | 7.39% |
R6 | 1/02/13 | 13.24% | 4.57% | 7.49% |
MSCI All Country World Small Mid Cap Index (net div) (f) | 8.49% | 4.46% | 7.21% |
A With Initial Sales Charge (5.75%) | 6.35% | 2.98% | 6.50% |
B With CDSC (Declining over six years from 4% to 0%) (v) | 8.03% | 3.12% | 6.33% |
C With CDSC (1% for 12 months) (v) | 10.97% | 3.43% | 6.32% |
(f) | Source: FactSet Research Systems Inc. |
(v) | Assuming redemption at the end of the applicable period. |
(e) | Morgan Stanley Capital International (“MSCI”) makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed, or produced by MSCI. |
March 1, 2023 through August 31, 2023
Share Class | Annualized Expense Ratio | Beginning Account Value 3/01/23 | Ending Account Value 8/31/23 | Expenses Paid During Period (p) 3/01/23-8/31/23 | |
A | Actual | 1.35% | $1,000.00 | $1,051.66 | $6.98 |
Hypothetical (h) | 1.35% | $1,000.00 | $1,018.40 | $6.87 | |
B | Actual | 2.10% | $1,000.00 | $1,048.08 | $10.84 |
Hypothetical (h) | 2.10% | $1,000.00 | $1,014.62 | $10.66 | |
C | Actual | 2.10% | $1,000.00 | $1,047.51 | $10.84 |
Hypothetical (h) | 2.10% | $1,000.00 | $1,014.62 | $10.66 | |
I | Actual | 1.10% | $1,000.00 | $1,052.87 | $5.69 |
Hypothetical (h) | 1.10% | $1,000.00 | $1,019.66 | $5.60 | |
R1 | Actual | 2.10% | $1,000.00 | $1,047.54 | $10.84 |
Hypothetical (h) | 2.10% | $1,000.00 | $1,014.62 | $10.66 | |
R2 | Actual | 1.60% | $1,000.00 | $1,050.16 | $8.27 |
Hypothetical (h) | 1.60% | $1,000.00 | $1,017.14 | $8.13 | |
R3 | Actual | 1.35% | $1,000.00 | $1,051.66 | $6.98 |
Hypothetical (h) | 1.35% | $1,000.00 | $1,018.40 | $6.87 | |
R4 | Actual | 1.10% | $1,000.00 | $1,053.34 | $5.69 |
Hypothetical (h) | 1.10% | $1,000.00 | $1,019.66 | $5.60 | |
R6 | Actual | 1.01% | $1,000.00 | $1,053.13 | $5.23 |
Hypothetical (h) | 1.01% | $1,000.00 | $1,020.11 | $5.14 |
(h) | 5% class return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – 98.0% | ||||
Aerospace & Defense – 4.7% | ||||
Howmet Aerospace, Inc. | 27,160 | $1,343,605 | ||
Melrose Industries PLC | 102,109 | 663,056 | ||
Singapore Technologies Engineering Ltd. | 187,800 | 529,445 | ||
Teledyne Technologies, Inc. (a) | 1,675 | 700,653 | ||
$3,236,759 | ||||
Apparel Manufacturers – 2.1% | ||||
Burberry Group PLC | 23,487 | $649,813 | ||
Skechers USA, Inc., “A” (a) | 15,523 | 780,962 | ||
$1,430,775 | ||||
Automotive – 2.9% | ||||
Koito Manufacturing Co. Ltd. | 26,100 | $444,074 | ||
LKQ Corp. | 22,414 | 1,177,407 | ||
Vitesco Technologies Group, “A” (a) | 4,982 | 393,823 | ||
$2,015,304 | ||||
Biotechnology – 0.6% | ||||
Abcam PLC, ADR (a) | 18,765 | $424,464 | ||
Brokerage & Asset Managers – 3.5% | ||||
B3 S.A. - Brasil Bolsa Balcao | 285,200 | $744,669 | ||
Cboe Global Markets, Inc. | 4,880 | 730,585 | ||
Euronext N.V. | 13,146 | 950,087 | ||
$2,425,341 | ||||
Business Services – 5.4% | ||||
Gruppo Mutuionline S.p.A. | 11,359 | $322,093 | ||
Keywords Studios PLC | 25,332 | 489,381 | ||
NS Solutions Corp. | 49,300 | 1,338,431 | ||
RS Group PLC | 85,811 | 826,378 | ||
Thoughtworks Holding, Inc. (a) | 47,548 | 236,314 | ||
WNS (Holdings) Ltd., ADR (a) | 7,510 | 490,778 | ||
$3,703,375 | ||||
Cable TV – 0.7% | ||||
Cable One, Inc. | 738 | $480,121 | ||
Chemicals – 3.9% | ||||
Borregaard ASA | 41,642 | $608,667 | ||
Element Solutions, Inc. | 43,681 | 900,702 | ||
IMCD Group N.V. | 4,401 | 607,266 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Chemicals – continued | ||||
UPL Ltd. | 81,858 | $584,522 | ||
$2,701,157 | ||||
Computer Software – 4.4% | ||||
Dun & Bradstreet Holdings, Inc. | 32,794 | $357,455 | ||
Kinaxis, Inc. (a) | 3,662 | 451,435 | ||
NICE Systems Ltd., ADR (a) | 2,270 | 442,196 | ||
OBIC Co. Ltd. | 3,200 | 557,105 | ||
Oracle Corp. Japan | 6,000 | 419,396 | ||
Paycor HCM, Inc. (a) | 15,149 | 355,547 | ||
SimCorp A/S | 4,150 | 441,682 | ||
$3,024,816 | ||||
Computer Software - Systems – 2.9% | ||||
Amadeus IT Group S.A. | 9,953 | $683,168 | ||
Kardex AG | 2,239 | 515,805 | ||
Nuvei Corp. | 16,170 | 292,192 | ||
Rapid7, Inc. (a) | 10,283 | 518,160 | ||
$2,009,325 | ||||
Construction – 3.8% | ||||
AZEK Co., Inc. (a) | 20,707 | $704,245 | ||
Breedon Group PLC | 167,226 | 740,387 | ||
Masco Corp. | 13,377 | 789,377 | ||
Summit Materials, Inc., “A” (a) | 9,555 | 357,452 | ||
$2,591,461 | ||||
Consumer Services – 1.9% | ||||
Boyd Group Services, Inc. | 3,866 | $697,236 | ||
Bright Horizons Family Solutions, Inc. (a) | 6,328 | 597,490 | ||
$1,294,726 | ||||
Containers – 1.9% | ||||
Mayr-Melnhof Karton AG | 2,755 | $390,750 | ||
Verallia S.A. | 18,453 | 882,820 | ||
$1,273,570 | ||||
Electrical Equipment – 2.3% | ||||
nVent Electric PLC | 14,175 | $801,454 | ||
Sensata Technologies Holding PLC | 20,927 | 787,274 | ||
$1,588,728 | ||||
Electronics – 1.7% | ||||
ASM International N.V. | 2,475 | $1,194,813 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Energy - Independent – 1.3% | ||||
Diamondback Energy, Inc. | 6,038 | $916,448 | ||
Engineering - Construction – 3.2% | ||||
Corporacion Inmobiliaria Vesta S.A.B. de C.V. | 187,595 | $695,567 | ||
Jacobs Solutions, Inc. | 7,300 | 984,186 | ||
JGC Corp. | 37,900 | 507,174 | ||
$2,186,927 | ||||
Entertainment – 2.5% | ||||
CTS Eventim AG | 12,511 | $780,063 | ||
Lottery Corp. Ltd. | 181,110 | 591,445 | ||
Vivid Seats, Inc., “A” (a) | 44,672 | 324,319 | ||
$1,695,827 | ||||
Food & Beverages – 4.5% | ||||
Bakkafrost P/F | 10,458 | $528,718 | ||
Cranswick PLC | 31,090 | 1,327,268 | ||
S Foods, Inc. | 21,000 | 484,243 | ||
Toyo Suisan Kaisha Ltd. | 8,600 | 355,361 | ||
Universal Robina Corp. | 188,410 | 371,695 | ||
$3,067,285 | ||||
General Merchandise – 0.8% | ||||
B&M European Value Retail S.A. | 76,473 | $559,555 | ||
Insurance – 2.7% | ||||
Arthur J. Gallagher & Co. | 2,075 | $478,246 | ||
AUB Group Ltd. | 70,054 | 1,399,420 | ||
$1,877,666 | ||||
Internet – 0.9% | ||||
Cian PLC, ADR (a)(u) | 63,311 | $0 | ||
Scout24 AG | 8,852 | 610,667 | ||
$610,667 | ||||
Machinery & Tools – 7.5% | ||||
Azbil Corp. | 12,600 | $420,880 | ||
IDEX Corp. | 2,894 | 655,202 | ||
Ingersoll Rand, Inc. | 15,407 | 1,072,481 | ||
RB Global, Inc. | 11,696 | 721,877 | ||
SIG Combibloc Group AG | 18,691 | 492,587 | ||
VAT Group AG | 971 | 389,565 | ||
Wabtec Corp. | 8,108 | 912,312 | ||
Zurn Elkay Water Solutions Corp. | 17,432 | 516,336 | ||
$5,181,240 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Medical & Health Technology & Services – 3.4% | ||||
AS ONE Corp. | 7,800 | $306,703 | ||
ICON PLC (a) | 5,506 | 1,431,230 | ||
Selcuk Ecza Deposu Ticaret ve Sanayi A.S. | 273,381 | 604,666 | ||
$2,342,599 | ||||
Medical Equipment – 5.5% | ||||
Bruker BioSciences Corp. | 9,072 | $595,123 | ||
Envista Holdings Corp. (a) | 22,179 | 710,172 | ||
Gerresheimer AG | 9,062 | 1,178,183 | ||
STERIS PLC | 5,740 | 1,317,847 | ||
$3,801,325 | ||||
Oil Services – 1.3% | ||||
ChampionX Corp. | 25,412 | $917,119 | ||
Other Banks & Diversified Financials – 1.3% | ||||
Shizuoka Financial Group, Inc. | 106,500 | $867,401 | ||
Pollution Control – 2.7% | ||||
Daiseki Co. Ltd. | 17,300 | $524,963 | ||
GFL Environmental, Inc. | 40,392 | 1,308,701 | ||
$1,833,664 | ||||
Printing & Publishing – 0.8% | ||||
Wolters Kluwer N.V. | 4,522 | $545,262 | ||
Real Estate – 4.5% | ||||
Big Yellow Group PLC, REIT | 32,864 | $447,545 | ||
Catena AB | 9,893 | 361,438 | ||
LEG Immobilien SE (a) | 5,713 | 412,580 | ||
Sun Communities, Inc., REIT | 5,767 | 705,996 | ||
Tritax Big Box PLC, REIT | 274,867 | 491,660 | ||
Unite Group PLC, REIT | 54,149 | 645,145 | ||
$3,064,364 | ||||
Restaurants – 1.5% | ||||
Sodexo | 5,167 | $554,793 | ||
Yum China Holdings, Inc. | 8,709 | 467,586 | ||
$1,022,379 | ||||
Specialty Chemicals – 4.1% | ||||
Axalta Coating Systems Ltd. (a) | 31,912 | $903,110 | ||
Croda International PLC | 5,845 | 408,873 | ||
Essentra PLC | 285,324 | 533,498 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Specialty Chemicals – continued | ||||
Symrise AG | 9,434 | $983,694 | ||
$2,829,175 | ||||
Specialty Stores – 4.7% | ||||
Burlington Stores, Inc. (a) | 4,291 | $696,258 | ||
Just Eat Takeaway.com (a) | 22,515 | 317,433 | ||
Multiplan Empreendimentos Imobiliarios S.A. | 141,292 | 705,882 | ||
Musti Group OY | 31,864 | 706,929 | ||
NISHIMATSUYA CHAIN Co., Ltd. | 36,100 | 417,087 | ||
ZOZO, Inc. | 18,700 | 373,948 | ||
$3,217,537 | ||||
Telecommunications - Wireless – 1.1% | ||||
Wireless Infrastructure Italian S.p.A. | 62,045 | $767,984 | ||
Trucking – 1.0% | ||||
XPO Logistics, Inc. (a) | 9,457 | $705,776 | ||
Total Common Stocks (Identified Cost, $58,690,584) | $67,404,935 | |||
Investment Companies (h) – 2.1% | ||||
Money Market Funds – 2.1% | ||||
MFS Institutional Money Market Portfolio, 5.3% (v) (Identified Cost, $1,435,272) | 1,435,333 | $1,435,476 | ||
Other Assets, Less Liabilities – (0.1)% | (39,362) | |||
Net Assets – 100.0% | $68,801,049 |
(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 $1,435,476 and $67,404,935, 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, $58,690,584) | $67,404,935 |
Investments in affiliated issuers, at value (identified cost, $1,435,272) | 1,435,476 |
Foreign currency, at value (identified cost, $10,436) | 10,410 |
Receivables for | |
Fund shares sold | 49,385 |
Interest and dividends | 144,785 |
Receivable from investment adviser | 16,154 |
Other assets | 90 |
Total assets | $69,061,235 |
Liabilities | |
Payables for | |
Fund shares reacquired | $147,099 |
Payable to affiliates | |
Administrative services fee | 111 |
Shareholder servicing costs | 21,202 |
Distribution and service fees | 533 |
Payable for independent Trustees' compensation | 10 |
Payable for audit and tax fees | 71,353 |
Accrued expenses and other liabilities | 19,878 |
Total liabilities | $260,186 |
Net assets | $68,801,049 |
Net assets consist of | |
Paid-in capital | $66,646,431 |
Total distributable earnings (loss) | 2,154,618 |
Net assets | $68,801,049 |
Shares of beneficial interest outstanding | 3,308,239 |
Net assets | Shares outstanding | Net asset value per share (a) | |
Class A | $24,867,867 | 1,209,324 | $20.56 |
Class B | 1,518,017 | 81,945 | 18.52 |
Class C | 1,577,549 | 85,163 | 18.52 |
Class I | 17,671,038 | 837,120 | 21.11 |
Class R1 | 130,354 | 7,042 | 18.51 |
Class R2 | 178,799 | 8,988 | 19.89 |
Class R3 | 730,544 | 35,535 | 20.56 |
Class R4 | 92,698 | 4,388 | 21.13 |
Class R6 | 22,034,183 | 1,038,734 | 21.21 |
(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 $21.81 [100 / 94.25 x $20.56]. 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 | $1,037,646 |
Dividends from affiliated issuers | 67,478 |
Income on securities loaned | 1,030 |
Other | 97 |
Foreign taxes withheld | (77,256) |
Total investment income | $1,028,995 |
Expenses | |
Management fee | $622,266 |
Distribution and service fees | 96,307 |
Shareholder servicing costs | 65,907 |
Administrative services fee | 19,509 |
Independent Trustees' compensation | 3,237 |
Custodian fee | 8,926 |
Shareholder communications | 14,128 |
Audit and tax fees | 67,594 |
Legal fees | 360 |
Registration fees | 123,411 |
Miscellaneous | 35,505 |
Total expenses | $1,057,150 |
Reduction of expenses by investment adviser | (272,082) |
Net expenses | $785,068 |
Net investment income (loss) | $243,927 |
Realized and unrealized gain (loss) | |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers (net of $3,706 foreign capital gains tax) | $(1,747,000) |
Affiliated issuers | 465 |
Foreign currency | (7,435) |
Net realized gain (loss) | $(1,753,970) |
Change in unrealized appreciation or depreciation | |
Unaffiliated issuers (net of $11,630 decrease in deferred foreign capital gains tax) | $9,093,416 |
Affiliated issuers | 216 |
Translation of assets and liabilities in foreign currencies | 2,561 |
Net unrealized gain (loss) | $9,096,193 |
Net realized and unrealized gain (loss) | $7,342,223 |
Change in net assets from operations | $7,586,150 |
Year ended | ||
8/31/23 | 8/31/22 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $243,927 | $(341,062) |
Net realized gain (loss) | (1,753,970) | (2,295,855) |
Net unrealized gain (loss) | 9,096,193 | (34,775,779) |
Change in net assets from operations | $7,586,150 | $(37,412,696) |
Total distributions to shareholders | $— | $(7,820,101) |
Change in net assets from fund share transactions | $(2,518,809) | $(25,748,877) |
Total change in net assets | $5,067,341 | $(70,981,674) |
Net assets | ||
At beginning of period | 63,733,708 | 134,715,382 |
At end of period | $68,801,049 | $63,733,708 |
Class A | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $18.22 | $27.56 | $21.57 | $18.72 | $21.27 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.05 | $(0.10) | $(0.06) | $(0.06) | $(0.03) |
Net realized and unrealized gain (loss) | 2.29 | (7.66) | 6.96 | 3.49 | (0.62) |
Total from investment operations | $2.34 | $(7.76) | $6.90 | $3.43 | $(0.65) |
Less distributions declared to shareholders | |||||
From net investment income | $— | $— | $— | $— | $(0.02) |
From net realized gain | — | (1.58) | (0.91) | (0.58) | (1.88) |
Total distributions declared to shareholders | $— | $(1.58) | $(0.91) | $(0.58) | $(1.90) |
Net asset value, end of period (x) | $20.56 | $18.22 | $27.56 | $21.57 | $18.72 |
Total return (%) (r)(s)(t)(x) | 12.84 | (29.71) | 32.82 | 18.63 | (1.65) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 1.78 | 1.67 | 1.68 | 1.97 | 2.04 |
Expenses after expense reductions | 1.35 | 1.35 | 1.34 | 1.49 | 1.51 |
Net investment income (loss) | 0.26 | (0.45) | (0.26) | (0.32) | (0.16) |
Portfolio turnover | 29 | 36 | 36 | 84 | 55 |
Net assets at end of period (000 omitted) | $24,868 | $23,856 | $44,743 | $17,029 | $11,255 |
Class B | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $16.54 | $25.35 | $20.05 | $17.57 | $20.21 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.09) | $(0.24) | $(0.25) | $(0.19) | $(0.16) |
Net realized and unrealized gain (loss) | 2.07 | (6.99) | 6.46 | 3.25 | (0.60) |
Total from investment operations | $1.98 | $(7.23) | $6.21 | $3.06 | $(0.76) |
Less distributions declared to shareholders | |||||
From net investment income | $— | $— | $— | $— | $— |
From net realized gain | — | (1.58) | (0.91) | (0.58) | (1.88) |
Total distributions declared to shareholders | $— | $(1.58) | $(0.91) | $(0.58) | $(1.88) |
Net asset value, end of period (x) | $18.52 | $16.54 | $25.35 | $20.05 | $17.57 |
Total return (%) (r)(s)(t)(x) | 11.97 | (30.24) | 31.84 | 17.72 | (2.35) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 2.53 | 2.43 | 2.46 | 2.72 | 2.79 |
Expenses after expense reductions | 2.10 | 2.10 | 2.10 | 2.24 | 2.26 |
Net investment income (loss) | (0.52) | (1.15) | (1.12) | (1.08) | (0.91) |
Portfolio turnover | 29 | 36 | 36 | 84 | 55 |
Net assets at end of period (000 omitted) | $1,518 | $1,739 | $2,979 | $2,678 | $2,508 |
Class C | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $16.54 | $25.35 | $20.05 | $17.57 | $20.21 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.09) | $(0.24) | $(0.25) | $(0.19) | $(0.16) |
Net realized and unrealized gain (loss) | 2.07 | (6.99) | 6.46 | 3.25 | (0.60) |
Total from investment operations | $1.98 | $(7.23) | $6.21 | $3.06 | $(0.76) |
Less distributions declared to shareholders | |||||
From net investment income | $— | $— | $— | $— | $— |
From net realized gain | — | (1.58) | (0.91) | (0.58) | (1.88) |
Total distributions declared to shareholders | $— | $(1.58) | $(0.91) | $(0.58) | $(1.88) |
Net asset value, end of period (x) | $18.52 | $16.54 | $25.35 | $20.05 | $17.57 |
Total return (%) (r)(s)(t)(x) | 11.97 | (30.24) | 31.84 | 17.72 | (2.35) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 2.54 | 2.43 | 2.46 | 2.72 | 2.78 |
Expenses after expense reductions | 2.10 | 2.10 | 2.10 | 2.24 | 2.26 |
Net investment income (loss) | (0.54) | (1.16) | (1.13) | (1.08) | (0.91) |
Portfolio turnover | 29 | 36 | 36 | 84 | 55 |
Net assets at end of period (000 omitted) | $1,578 | $2,137 | $3,896 | $3,422 | $3,287 |
Class I | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $18.66 | $28.15 | $21.96 | $19.00 | $21.54 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.10 | $(0.06) | $(0.00)(w) | $(0.02) | $0.01 |
Net realized and unrealized gain (loss) | 2.35 | (7.83) | 7.10 | 3.56 | (0.62) |
Total from investment operations | $2.45 | $(7.89) | $7.10 | $3.54 | $(0.61) |
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) |
Total distributions declared to shareholders | $— | $(1.60) | $(0.91) | $(0.58) | $(1.93) |
Net asset value, end of period (x) | $21.11 | $18.66 | $28.15 | $21.96 | $19.00 |
Total return (%) (r)(s)(t)(x) | 13.13 | (29.55) | 33.16 | 18.94 | (1.41) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 1.54 | 1.40 | 1.43 | 1.72 | 1.76 |
Expenses after expense reductions | 1.10 | 1.10 | 1.09 | 1.24 | 1.26 |
Net investment income (loss) | 0.50 | (0.26) | (0.02) | (0.09) | 0.05 |
Portfolio turnover | 29 | 36 | 36 | 84 | 55 |
Net assets at end of period (000 omitted) | $17,671 | $20,703 | $61,502 | $18,688 | $14,059 |
Class R1 | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $16.53 | $25.33 | $20.04 | $17.56 | $20.20 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.08) | $(0.23) | $(0.25) | $(0.19) | $(0.16) |
Net realized and unrealized gain (loss) | 2.06 | (6.99) | 6.45 | 3.25 | (0.60) |
Total from investment operations | $1.98 | $(7.22) | $6.20 | $3.06 | $(0.76) |
Less distributions declared to shareholders | |||||
From net investment income | $— | $— | $— | $— | $— |
From net realized gain | — | (1.58) | (0.91) | (0.58) | (1.88) |
Total distributions declared to shareholders | $— | $(1.58) | $(0.91) | $(0.58) | $(1.88) |
Net asset value, end of period (x) | $18.51 | $16.53 | $25.33 | $20.04 | $17.56 |
Total return (%) (r)(s)(t)(x) | 11.98 | (30.22) | 31.80 | 17.73 | (2.35) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 2.53 | 2.43 | 2.45 | 2.72 | 2.79 |
Expenses after expense reductions | 2.10 | 2.10 | 2.09 | 2.24 | 2.26 |
Net investment income (loss) | (0.48) | (1.13) | (1.11) | (1.08) | (0.92) |
Portfolio turnover | 29 | 36 | 36 | 84 | 55 |
Net assets at end of period (000 omitted) | $130 | $114 | $160 | $120 | $101 |
Class R2 | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $17.67 | $26.85 | $21.09 | $18.36 | $20.93 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.00)(w) | $(0.13) | $(0.14) | $(0.11) | $(0.07) |
Net realized and unrealized gain (loss) | 2.22 | (7.47) | 6.81 | 3.42 | (0.62) |
Total from investment operations | $2.22 | $(7.60) | $6.67 | $3.31 | $(0.69) |
Less distributions declared to shareholders | |||||
From net investment income | $— | $— | $— | $— | $— |
From net realized gain | — | (1.58) | (0.91) | (0.58) | (1.88) |
Total distributions declared to shareholders | $— | $(1.58) | $(0.91) | $(0.58) | $(1.88) |
Net asset value, end of period (x) | $19.89 | $17.67 | $26.85 | $21.09 | $18.36 |
Total return (%) (r)(s)(t)(x) | 12.56 | (29.91) | 32.47 | 18.33 | (1.89) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 2.04 | 1.94 | 1.95 | 2.22 | 2.29 |
Expenses after expense reductions | 1.60 | 1.60 | 1.59 | 1.74 | 1.76 |
Net investment income (loss) | (0.00) | (0.61) | (0.61) | (0.58) | (0.41) |
Portfolio turnover | 29 | 36 | 36 | 84 | 55 |
Net assets at end of period (000 omitted) | $179 | $225 | $237 | $178 | $218 |
Class R3 | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $18.22 | $27.56 | $21.57 | $18.72 | $21.26 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.07 | $(0.08) | $(0.09) | $(0.06) | $(0.03) |
Net realized and unrealized gain (loss) | 2.27 | (7.68) | 6.99 | 3.49 | (0.62) |
Total from investment operations | $2.34 | $(7.76) | $6.90 | $3.43 | $(0.65) |
Less distributions declared to shareholders | |||||
From net investment income | $— | $— | $— | $— | $(0.01) |
From net realized gain | — | (1.58) | (0.91) | (0.58) | (1.88) |
Total distributions declared to shareholders | $— | $(1.58) | $(0.91) | $(0.58) | $(1.89) |
Net asset value, end of period (x) | $20.56 | $18.22 | $27.56 | $21.57 | $18.72 |
Total return (%) (r)(s)(t)(x) | 12.84 | (29.71) | 32.82 | 18.63 | (1.63) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 1.76 | 1.68 | 1.70 | 1.97 | 2.04 |
Expenses after expense reductions | 1.35 | 1.35 | 1.34 | 1.49 | 1.51 |
Net investment income (loss) | 0.34 | (0.37) | (0.35) | (0.31) | (0.16) |
Portfolio turnover | 29 | 36 | 36 | 84 | 55 |
Net assets at end of period (000 omitted) | $731 | $189 | $294 | $206 | $152 |
Class R4 | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $18.67 | $28.15 | $21.96 | $19.00 | $21.56 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.08 | $(0.03) | $(0.03) | $(0.02) | $0.02 |
Net realized and unrealized gain (loss) | 2.38 | (7.85) | 7.13 | 3.56 | (0.64) |
Total from investment operations | $2.46 | $(7.88) | $7.10 | $3.54 | $(0.62) |
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) |
Total distributions declared to shareholders | $— | $(1.60) | $(0.91) | $(0.58) | $(1.94) |
Net asset value, end of period (x) | $21.13 | $18.67 | $28.15 | $21.96 | $19.00 |
Total return (%) (r)(s)(t)(x) | 13.18 | (29.53) | 33.16 | 18.94 | (1.43) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 1.56 | 1.43 | 1.45 | 1.72 | 1.78 |
Expenses after expense reductions | 1.10 | 1.10 | 1.09 | 1.24 | 1.26 |
Net investment income (loss) | 0.41 | (0.13) | (0.11) | (0.08) | 0.08 |
Portfolio turnover | 29 | 36 | 36 | 84 | 55 |
Net assets at end of period (000 omitted) | $93 | $82 | $116 | $87 | $73 |
Class R6 | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $18.73 | $28.24 | $22.01 | $19.03 | $21.58 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.12 | $(0.01) | $(0.00)(w) | $0.01 | $0.05 |
Net realized and unrealized gain (loss) | 2.36 | (7.88) | 7.14 | 3.55 | (0.64) |
Total from investment operations | $2.48 | $(7.89) | $7.14 | $3.56 | $(0.59) |
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) |
Total distributions declared to shareholders | $— | $(1.62) | $(0.91) | $(0.58) | $(1.96) |
Net asset value, end of period (x) | $21.21 | $18.73 | $28.24 | $22.01 | $19.03 |
Total return (%) (r)(s)(t)(x) | 13.24 | (29.49) | 33.27 | 19.01 | (1.26) |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions | 1.43 | 1.33 | 1.37 | 1.62 | 1.69 |
Expenses after expense reductions | 1.01 | 1.00 | 1.01 | 1.15 | 1.16 |
Net investment income (loss) | 0.62 | (0.03) | (0.01) | 0.03 | 0.24 |
Portfolio turnover | 29 | 36 | 36 | 84 | 55 |
Net assets at end of period (000 omitted) | $22,034 | $14,688 | $20,788 | $13,432 | $13,382 |
(d) | Per share data is based on average shares outstanding. |
(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 | $25,460,964 | $— | $— | $25,460,964 |
United Kingdom | 8,207,023 | — | — | 8,207,023 |
Japan | 7,016,766 | — | — | 7,016,766 |
Germany | 4,359,010 | — | — | 4,359,010 |
Canada | 3,471,441 | — | — | 3,471,441 |
Netherlands | 2,664,774 | — | — | 2,664,774 |
France | 2,387,700 | — | — | 2,387,700 |
Australia | 1,990,865 | — | — | 1,990,865 |
Brazil | 1,450,551 | — | — | 1,450,551 |
Other Countries | 10,395,841 | — | 0 | 10,395,841 |
Mutual Funds | 1,435,476 | — | — | 1,435,476 |
Total | $68,840,411 | $— | $0 | $68,840,411 |
Year ended 8/31/23 | 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 8/31/23 | |
Cost of investments | $61,194,513 |
Gross appreciation | 14,101,256 |
Gross depreciation | (6,455,358) |
Net unrealized appreciation (depreciation) | $7,645,898 |
Capital loss carryforwards | (5,489,994) |
Other temporary differences | (1,286) |
Total distributable earnings (loss) | $2,154,618 |
Short-Term | $(2,918,398) |
Long-Term | (2,571,596) |
Total | $(5,489,994) |
Year ended 8/31/23 | 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% | $ 59,966 |
Class B | 0.75% | 0.25% | 1.00% | 1.00% | 15,846 |
Class C | 0.75% | 0.25% | 1.00% | 1.00% | 16,747 |
Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 1,212 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 1,036 |
Class R3 | — | 0.25% | 0.25% | 0.25% | 1,500 |
Total Distribution and Service Fees | $96,307 |
(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 year ended August 31, 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 year ended August 31, 2023. |
Amount | |
Class A | $792 |
Class B | 328 |
Class C | 51 |
Year ended 8/31/23 | Year ended 8/31/22 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | |||||
Class A | 238,781 | $4,470,571 | 374,755 | $8,791,107 | |
Class B | 2 | 27 | 14 | 250 | |
Class C | 8,249 | 145,346 | 10,749 | 232,708 | |
Class I | 283,232 | 5,449,784 | 658,954 | 14,960,270 | |
Class R1 | 160 | 2,720 | 137 | 2,720 | |
Class R2 | 1,132 | 20,714 | 3,219 | 78,069 | |
Class R3 | 25,873 | 453,360 | 1,115 | 24,417 | |
Class R4 | 7,477 | 128,454 | — | — | |
Class R6 | 483,983 | 9,930,084 | 208,367 | 4,884,616 | |
1,048,889 | $20,601,060 | 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 | (338,627) | $(6,243,871) | (795,983) | $(16,371,684) | |
Class B | (23,187) | (394,481) | (20,014) | (435,469) | |
Class C | (52,329) | (868,786) | (45,502) | (920,814) | |
Class I | (555,645) | (10,854,907) | (1,868,911) | (40,028,971) | |
Class R1 | (5) | (89) | (1) | (14) | |
Class R2 | (4,901) | (91,970) | (18) | (430) | |
Class R3 | (728) | (14,346) | (1,986) | (53,917) | |
Class R4 | (7,477) | (150,789) | — | — | |
Class R6 | (229,366) | (4,500,630) | (198,028) | (4,474,660) | |
(1,212,265) | $(23,119,869) | (2,930,443) | $(62,285,959) |
Year ended 8/31/23 | Year ended 8/31/22 | ||||
Shares | Amount | Shares | Amount | ||
Net change | |||||
Class A | (99,846) | $(1,773,300) | (314,031) | $(4,892,084) | |
Class B | (23,185) | (394,454) | (12,370) | (260,578) | |
Class C | (44,080) | (723,440) | (24,441) | (452,064) | |
Class I | (272,413) | (5,405,123) | (1,075,492) | (21,621,007) | |
Class R1 | 155 | 2,631 | 575 | 12,743 | |
Class R2 | (3,769) | (71,256) | 3,923 | 95,241 | |
Class R3 | 25,145 | 439,014 | (286) | (14,839) | |
Class R4 | — | (22,335) | 258 | 6,625 | |
Class R6 | 254,617 | 5,429,454 | 47,941 | 1,377,086 | |
(163,376) | $(2,518,809) | (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 | $15,448,466 | $16,025,945 | $465 | $216 | $1,435,476 |
Affiliated Issuers | Dividend Income | Capital Gain Distributions |
MFS Institutional Money Market Portfolio | $67,478 | $— |
October 16, 2023
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
INTERESTED TRUSTEE | ||||||||||
Michael W. Roberge (k) (age 57) | Trustee | January 2021 | 136 | Massachusetts Financial Services Company, Chairman (since January 2021); Chief Executive Officer (since January 2017); Director; Chairman of the Board (since January 2022); President (until December 2018); Chief Investment Officer (until December 2018) | N/A | |||||
INDEPENDENT TRUSTEES | ||||||||||
John P. Kavanaugh (age 68) | Trustee and Chair of Trustees | January 2009 | 136 | Private investor | N/A | |||||
Steven E. Buller (age 72) | Trustee | February 2014 | 136 | Private investor | N/A | |||||
John A. Caroselli (age 69) | Trustee | March 2017 | 136 | Private investor; JC Global Advisors, LLC (management consulting), President (since 2015) | N/A | |||||
Maureen R. Goldfarb (age 68) | Trustee | January 2009 | 136 | Private investor | N/A | |||||
Peter D. Jones (age 68) | Trustee | January 2019 | 136 | Private investor | N/A | |||||
James W. Kilman, Jr. (age 62) | Trustee | January 2019 | 136 | Burford Capital Limited (finance and investment management), Senior Advisor (since May 3, 2021), Chief Financial Officer (2019 - May 2, 2021); KielStrand Capital LLC (family office), Chief Executive Officer (since 2016) | Alpha-En Corporation, Director (2016-2019) |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
Clarence Otis, Jr. (age 67) | Trustee | March 2017 | 136 | Private investor | VF Corporation, Director; Verizon Communications, Inc., Director; The Travelers Companies, Director | |||||
Maryanne L. Roepke (age 67) | Trustee | May 2014 | 136 | Private investor | N/A | |||||
Laurie J. Thomsen (age 66) | Trustee | March 2005 | 136 | Private investor | The Travelers Companies, Director; Dycom Industries, Inc., Director |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
OFFICERS | ||||||||
Christopher R. Bohane (k) (age 49) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President and Senior Managing Counsel | ||||
Kino Clark (k) (age 55) | Assistant Treasurer | January 2012 | 136 | Massachusetts Financial Services Company, Vice President | ||||
John W. Clark, Jr. (k) (age 56) | Assistant Treasurer | April 2017 | 136 | Massachusetts Financial Services Company, Vice President | ||||
David L. DiLorenzo (k) (age 55) | President | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President | ||||
Heidi W. Hardin (k) (age 56) | Secretary and Clerk | April 2017 | 136 | Massachusetts Financial Services Company, Executive Vice President and General Counsel | ||||
Brian E. Langenfeld (k) (age 50) | Assistant Secretary and Assistant Clerk | June 2006 | 136 | Massachusetts Financial Services Company, Vice President and Managing Counsel |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
Rosa E. Licea-Mailloux (k) (age 47) | Chief Compliance Officer | March 2022 | 136 | Massachusetts Financial Services Company, Vice President (since 2018); Director of Corporate Compliance (2018-2021), Senior Director Compliance (2021-2022), Senior Managing Director of North American Compliance & Chief Compliance Officer (since March 2022); Natixis Investment Managers (investment management), Funds Chief Compliance Officer, Deputy General Counsel & Senior Vice President (until 2018) | ||||
Amanda S. Mooradian (k) (age 44) | Assistant Secretary and Assistant Clerk | September 2018 | 136 | Massachusetts Financial Services Company, Assistant Vice President and Senior Counsel | ||||
Susan A. Pereira (k) (age 52) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Vice President and Managing Counsel | ||||
Kasey L. Phillips (k) (age 52) | Assistant Treasurer | September 2012 | 136 | Massachusetts Financial Services Company, Vice President | ||||
Matthew A. Stowe (k) (age 48) | Assistant Secretary and Assistant Clerk | October 2014 | 136 | Massachusetts Financial Services Company, Vice President and Senior Managing Counsel | ||||
William B. Wilson (k) (age 41) | Assistant Secretary and Assistant Clerk | October 2022 | 136 | Massachusetts Financial Services Company, Assistant Vice President and Senior Counsel | ||||
James O. Yost (k) (age 63) | Treasurer | September 1990 | 136 | Massachusetts Financial Services Company, Senior Vice President |
(h) | Date first appointed to serve as Trustee/Officer of an MFS Fund. Each Trustee has served continuously since appointment unless indicated otherwise. From January 2012 through December 2016, Messrs. DiLorenzo and Yost served as Treasurer and Deputy Treasurer of the Funds, respectively. |
(j) | Directorships or trusteeships of companies required to report to the Securities and Exchange Commission (i.e., “public companies”). |
(k) | “Interested person” of the Trust within the meaning of the Investment Company Act of 1940 (referred to as the 1940 Act), which is the principal federal law governing investment companies like the fund, as a result of a position with MFS. The address of MFS is 111 Huntington Avenue, Boston, Massachusetts 02199-7618. |
Investment Adviser | Custodian |
Massachusetts Financial Services Company 111 Huntington Avenue Boston, MA 02199-7618 | State Street Bank and Trust Company 1 Congress Street, Suite 1 Boston, MA 02114-2016 |
Distributor | Independent Registered Public Accounting Firm |
MFS Fund Distributors, Inc. 111 Huntington Avenue Boston, MA 02199-7618 | Ernst & Young LLP 200 Clarendon Street Boston, MA 02116 |
Portfolio Manager(s) | |
Eric Braz Peter Fruzzetti Michael Grossman Sandeep Mehta |
FACTS | WHAT DOES MFS DO WITH YOUR PERSONAL INFORMATION? |
Why? | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
What? | The types of personal information we collect and share depend on the product or service you have with us. This information can include: |
• Social Security number and account balances | |
• Account transactions and transaction history | |
• Checking account information and wire transfer instructions | |
When you are no longer our customer, we continue to share your information as described in this notice. |
How? | All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons MFS chooses to share; and whether you can limit this sharing. |
Reasons we can share your personal information | Does MFS share? | Can you limit this sharing? |
For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus | Yes | No |
For our marketing purposes – to offer our products and services to you | No | We don't share |
For joint marketing with other financial companies | No | We don't share |
For our affiliates' everyday business purposes – information about your transactions and experiences | No | We don't share |
For our affiliates' everyday business purposes – information about your creditworthiness | No | We don't share |
For nonaffiliates to market to you | No | We don't share |
Questions? | Call 800-225-2606 or go to mfs.com. |
Who we are | |
Who is providing this notice? | MFS Funds, MFS Investment Management, MFS Institutional Advisors, Inc., and MFS Heritage Trust Company. |
What we do | |
How does MFS protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include procedural, electronic, and physical safeguards for the protection of the personal information we collect about you. |
How does MFS collect my personal information? | We collect your personal information, for example, when you |
• open an account or provide account information | |
• direct us to buy securities or direct us to sell your securities | |
• make a wire transfer | |
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. | |
Why can't I limit all sharing? | Federal law gives you the right to limit only |
• sharing for affiliates' everyday business purposes – information about your creditworthiness | |
• affiliates from using your information to market to you | |
• sharing for nonaffiliates to market to you | |
State laws and individual companies may give you additional rights to limit sharing. |
Definitions | |
Affiliates | Companies related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share personal information with affiliates, except for everyday business purposes as described on page one of this notice. | |
Nonaffiliates | Companies not related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share with nonaffiliates so they can market to you. | |
Joint marketing | A formal agreement between nonaffiliated financial companies that together market financial products or services to you. |
• MFS doesn't jointly market. |
Other important information |
If you own an MFS product or receive an MFS service in the name of a third party such as a bank or broker-dealer, their privacy policy may apply to you instead of ours. |
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back cover |
Arthur J. Gallagher & Co. | 3.1% |
Monolithic Power Systems, Inc. | 3.1% |
Verisk Analytics, Inc., “A” | 2.9% |
Cadence Design Systems, Inc. | 2.8% |
AMETEK, Inc. | 2.8% |
MSCI, Inc. | 2.5% |
Vulcan Materials Co. | 2.4% |
STERIS PLC | 2.4% |
Copart, Inc. | 2.0% |
Synopsys, Inc. | 2.0% |
Information Technology | 23.3% |
Industrials | 23.1% |
Health Care | 16.2% |
Consumer Discretionary | 12.5% |
Financials | 8.6% |
Communication Services | 3.8% |
Materials | 2.8% |
Energy | 2.6% |
Real Estate | 2.4% |
Consumer Staples | 1.6% |
Equity Warrants (o) | 0.0% |
(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. |
(o) | Less than 0.1%. |
Eric Braz and Eric Fischman.
(b) | Security is not a benchmark constituent. |
(h) | Security was not held in the portfolio at period end. |
Share Class | Class Inception Date | 1-yr | 5-yr | 10-yr |
A | 12/01/93 | 11.00% | 7.58% | 11.46% |
B | 12/01/93 | 10.14% | 6.78% | 10.64% |
C | 8/01/94 | 10.15% | 6.78% | 10.63% |
I | 1/02/97 | 11.25% | 7.85% | 11.74% |
R1 | 4/01/05 | 10.14% | 6.78% | 10.63% |
R2 | 10/31/03 | 10.70% | 7.31% | 11.18% |
R3 | 4/01/05 | 10.98% | 7.59% | 11.46% |
R4 | 4/01/05 | 11.24% | 7.85% | 11.74% |
R6 | 1/02/13 | 11.42% | 7.97% | 11.85% |
Russell Midcap® Growth Index (f) | 13.00% | 7.95% | 11.03% |
A With Initial Sales Charge (5.75%) | 4.62% | 6.32% | 10.80% |
B With CDSC (Declining over six years from 4% to 0%) (v) | 6.14% | 6.47% | 10.64% |
C With CDSC (1% for 12 months) (v) | 9.15% | 6.78% | 10.63% |
(f) | Source: FactSet Research Systems Inc. |
(v) | Assuming redemption at the end of the applicable period. |
(h) | Frank Russell Company (“Russell”) is the source and owner of the trademarks, service marks, and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company. Neither Russell nor its licensors accept any liability for any errors or omissions in the Russell Indexes and/or Russell ratings or underlying data and no party may rely on any Russell Indexes and/or Russell ratings and/or underlying data contained in this document. No further distribution of Russell Data is permitted without Russell's express written consent. Russell does not promote, sponsor, or endorse the content of this document. |
March 1, 2023 through August 31, 2023
Share Class | Annualized Expense Ratio | Beginning Account Value 3/01/23 | Ending Account Value 8/31/23 | Expenses Paid During Period (p) 3/01/23-8/31/23 | |
A | Actual | 1.03% | $1,000.00 | $1,084.49 | $5.41 |
Hypothetical (h) | 1.03% | $1,000.00 | $1,020.01 | $5.24 | |
B | Actual | 1.78% | $1,000.00 | $1,080.71 | $9.34 |
Hypothetical (h) | 1.78% | $1,000.00 | $1,016.23 | $9.05 | |
C | Actual | 1.78% | $1,000.00 | $1,080.05 | $9.33 |
Hypothetical (h) | 1.78% | $1,000.00 | $1,016.23 | $9.05 | |
I | Actual | 0.78% | $1,000.00 | $1,085.68 | $4.10 |
Hypothetical (h) | 0.78% | $1,000.00 | $1,021.27 | $3.97 | |
R1 | Actual | 1.78% | $1,000.00 | $1,080.00 | $9.33 |
Hypothetical (h) | 1.78% | $1,000.00 | $1,016.23 | $9.05 | |
R2 | Actual | 1.28% | $1,000.00 | $1,083.22 | $6.72 |
Hypothetical (h) | 1.28% | $1,000.00 | $1,018.75 | $6.51 | |
R3 | Actual | 1.03% | $1,000.00 | $1,084.17 | $5.41 |
Hypothetical (h) | 1.03% | $1,000.00 | $1,020.01 | $5.24 | |
R4 | Actual | 0.78% | $1,000.00 | $1,085.81 | $4.10 |
Hypothetical (h) | 0.78% | $1,000.00 | $1,021.27 | $3.97 | |
R6 | Actual | 0.65% | $1,000.00 | $1,086.71 | $3.42 |
Hypothetical (h) | 0.65% | $1,000.00 | $1,021.93 | $3.31 |
(h) | 5% class return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – 96.9% | ||||
Aerospace & Defense – 3.0% | ||||
Hexcel Corp. | 474,304 | $34,766,483 | ||
Howmet Aerospace, Inc. | 5,097,749 | 252,185,643 | ||
Teledyne Technologies, Inc. (a) | 114,528 | 47,907,062 | ||
TransDigm Group, Inc. (a) | 59,930 | 54,167,731 | ||
$389,026,919 | ||||
Automotive – 2.3% | ||||
Copart, Inc. (a) | 5,943,373 | $266,441,411 | ||
LKQ Corp. | 600,537 | 31,546,209 | ||
$297,987,620 | ||||
Brokerage & Asset Managers – 0.8% | ||||
LPL Financial Holdings, Inc. | 109,156 | $25,170,282 | ||
NASDAQ, Inc. | 1,468,428 | 77,063,101 | ||
$102,233,383 | ||||
Business Services – 12.5% | ||||
CoStar Group, Inc. (a) | 3,103,872 | $254,486,465 | ||
Equifax, Inc. | 567,754 | 117,354,752 | ||
Factset Research Systems, Inc. | 240,518 | 104,964,460 | ||
FleetCor Technologies, Inc. (a) | 194,088 | 52,739,532 | ||
Morningstar, Inc. | 560,449 | 130,399,669 | ||
MSCI, Inc. | 605,770 | 329,308,688 | ||
TransUnion | 808,036 | 65,628,684 | ||
Tyler Technologies, Inc. (a) | 482,828 | 192,373,160 | ||
Verisk Analytics, Inc., “A” | 1,572,564 | 380,906,452 | ||
$1,628,161,862 | ||||
Computer Software – 9.9% | ||||
ANSYS, Inc. (a) | 408,750 | $130,338,112 | ||
Autodesk, Inc. (a) | 435,398 | 96,632,232 | ||
Black Knight, Inc. (a) | 989,987 | 75,001,415 | ||
Bumble, Inc., “A” (a) | 934,143 | 15,674,920 | ||
Cadence Design Systems, Inc. (a) | 1,547,288 | 372,029,927 | ||
Datadog, Inc., “A” (a) | 1,052,448 | 101,540,183 | ||
Dun & Bradstreet Holdings, Inc. | 3,268,938 | 35,631,424 | ||
NICE Systems Ltd., ADR (a) | 598,283 | 116,545,528 | ||
Paylocity Holding Corp. (a) | 494,505 | 99,148,253 | ||
Synopsys, Inc. (a) | 562,924 | 258,320,194 | ||
$1,300,862,188 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Computer Software - Systems – 4.2% | ||||
Arista Networks, Inc. (a) | 468,223 | $91,411,176 | ||
Constellation Software, Inc. | 115,391 | 237,021,244 | ||
HubSpot, Inc. (a) | 53,698 | 29,347,031 | ||
ServiceNow, Inc. (a) | 323,777 | 190,649,611 | ||
$548,429,062 | ||||
Construction – 3.9% | ||||
AZEK Co., Inc. (a) | 3,239,009 | $110,158,696 | ||
Martin Marietta Materials, Inc. | 119,367 | 53,286,623 | ||
Pool Corp. | 87,007 | 31,809,759 | ||
Vulcan Materials Co. | 1,457,556 | 318,111,597 | ||
$513,366,675 | ||||
Consumer Products – 1.6% | ||||
Church & Dwight Co., Inc. | 2,186,341 | $211,572,219 | ||
Consumer Services – 1.7% | ||||
Bright Horizons Family Solutions, Inc. (a) | 2,380,785 | $224,793,720 | ||
Electrical Equipment – 6.0% | ||||
AMETEK, Inc. | 2,276,190 | $363,075,067 | ||
Hubbell, Inc. | 300,804 | 98,077,144 | ||
Littlefuse, Inc. | 431,412 | 115,221,517 | ||
nVent Electric PLC | 1,373,794 | 77,674,313 | ||
Rockwell Automation, Inc. | 408,298 | 127,421,640 | ||
$781,469,681 | ||||
Electronics – 5.9% | ||||
ASM International N.V. | 529,641 | $255,685,581 | ||
Entegris, Inc. | 1,134,711 | 114,912,183 | ||
Monolithic Power Systems, Inc. | 771,308 | 402,013,443 | ||
$772,611,207 | ||||
Energy - Independent – 2.6% | ||||
Chesapeake Energy Corp. | 1,898,981 | $167,509,114 | ||
Diamondback Energy, Inc. | 812,449 | 123,313,509 | ||
Hess Corp. | 278,383 | 43,010,174 | ||
$333,832,797 | ||||
Engineering - Construction – 0.8% | ||||
Quanta Services, Inc. | 470,172 | $98,674,998 | ||
Entertainment – 1.1% | ||||
Spotify Technology S.A. (a) | 973,409 | $149,875,784 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Gaming & Lodging – 3.1% | ||||
DraftKings, Inc. (a) | 1,915,668 | $56,799,556 | ||
Hyatt Hotels Corp. | 1,556,979 | 175,020,009 | ||
Las Vegas Sands Corp. | 1,235,074 | 67,756,160 | ||
Red Rock Resorts, Inc. | 2,536,030 | 111,407,798 | ||
$410,983,523 | ||||
General Merchandise – 0.6% | ||||
Five Below, Inc. (a) | 449,472 | $77,291,205 | ||
Insurance – 3.1% | ||||
Arthur J. Gallagher & Co. | 1,747,919 | $402,860,371 | ||
Internet – 2.1% | ||||
Gartner, Inc. (a) | 643,480 | $225,012,087 | ||
Match Group, Inc. (a) | 1,160,183 | 54,377,777 | ||
$279,389,864 | ||||
Leisure & Toys – 1.8% | ||||
Electronic Arts, Inc. | 275,798 | $33,090,244 | ||
Take-Two Interactive Software, Inc. (a) | 1,468,302 | 208,792,544 | ||
$241,882,788 | ||||
Machinery & Tools – 3.4% | ||||
IDEX Corp. | 656,165 | $148,555,756 | ||
Ingersoll Rand, Inc. | 1,715,530 | 119,418,043 | ||
Wabtec Corp. | 1,556,891 | 175,181,376 | ||
$443,155,175 | ||||
Medical & Health Technology & Services – 4.7% | ||||
Henry Schein, Inc. (a) | 1,352,121 | $103,491,341 | ||
ICON PLC (a) | 881,761 | 229,204,955 | ||
IDEXX Laboratories, Inc. (a) | 259,054 | 132,482,806 | ||
Veeva Systems, Inc. (a) | 740,229 | 154,485,792 | ||
$619,664,894 | ||||
Medical Equipment – 8.5% | ||||
Agilent Technologies, Inc. | 1,539,202 | $186,351,186 | ||
Bruker BioSciences Corp. | 2,620,747 | 171,921,003 | ||
Envista Holdings Corp. (a) | 2,474,525 | 79,234,291 | ||
Maravai Lifesciences Holdings, Inc., “A” (a) | 878,226 | 9,080,857 | ||
Masimo Corp. (a) | 396,997 | 45,368,817 | ||
Mettler-Toledo International, Inc. (a) | 57,122 | 69,316,405 | ||
STERIS PLC | 1,371,441 | 314,869,139 | ||
Waters Corp. (a) | 407,193 | 114,339,794 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks – continued | ||||
Medical Equipment – continued | ||||
West Pharmaceutical Services, Inc. | 310,132 | $126,192,711 | ||
$1,116,674,203 | ||||
Pharmaceuticals – 3.0% | ||||
Alnylam Pharmaceuticals, Inc. (a) | 509,422 | $100,773,860 | ||
Argenx SE, ADR (a) | 219,549 | 110,321,177 | ||
Ascendis Pharma, ADR (a) | 903,090 | 88,520,882 | ||
Legend Biotech Corp., ADR (a) | 1,252,894 | 86,900,728 | ||
$386,516,647 | ||||
Pollution Control – 1.3% | ||||
GFL Environmental, Inc. | 3,464,389 | $112,246,203 | ||
Waste Connections, Inc. | 382,720 | 52,428,813 | ||
$164,675,016 | ||||
Printing & Publishing – 2.1% | ||||
Warner Music Group Corp. | 1,052,512 | $35,048,649 | ||
Wolters Kluwer N.V. | 1,953,074 | 235,501,117 | ||
$270,549,766 | ||||
Restaurants – 1.3% | ||||
Chipotle Mexican Grill, Inc., “A” (a) | 86,880 | $167,386,483 | ||
Specialty Stores – 5.2% | ||||
Burlington Stores, Inc. (a) | 272,640 | $44,238,566 | ||
Lululemon Athletica, Inc. (a) | 412,415 | 157,237,343 | ||
O'Reilly Automotive, Inc. (a) | 246,127 | 231,285,542 | ||
Tractor Supply Co. | 542,249 | 118,481,406 | ||
Ulta Beauty, Inc. (a) | 325,429 | 135,062,798 | ||
$686,305,655 | ||||
Telecommunications - Wireless – 0.4% | ||||
SBA Communications Corp., REIT | 233,747 | $52,483,214 | ||
Total Common Stocks (Identified Cost, $8,650,688,207) | $12,672,716,919 |
Issuer | Strike Price | First Exercise | Shares/Par | Value ($) |
Rights – 0.0% | ||||
Computer Software - Systems – 0.0% | ||||
Constellation Software, Inc. (CAD 100 principal amount of Series 1 Debentures for 3.03 rights, Expiration 10/13/23) (a) (Identified Cost, $0) | CAD 133 | 8/31/23 | 115,391 | $64,049 |
Warrants – 0.0% | ||||
Computer Software - Systems – 0.0% | ||||
Constellation Software, Inc. (CAD 100 principal amount of Series 2 Debentures for 1 warrant, Expiration 3/31/2040) (a) (Identified Cost, $0) | CAD 11.5 | N/A | 115,391 | $0 |
Investment Companies (h) – 3.2% | ||||
Money Market Funds – 3.2% | ||||
MFS Institutional Money Market Portfolio, 5.3% (v) (Identified Cost, $419,893,870) | 419,894,193 | $419,936,182 | ||
Other Assets, Less Liabilities – (0.1)% | (18,412,358) | |||
Net Assets – 100.0% | $13,074,304,792 |
(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 $419,936,182 and $12,672,780,968, 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 |
Abbreviations indicate amounts shown in currencies other than the U.S. dollar. All amounts are stated in U.S. dollars unless otherwise indicated. A list of abbreviations is shown below: | |
CAD | Canadian Dollar |
Assets | |
Investments in unaffiliated issuers, at value (identified cost, $8,650,688,207) | $12,672,780,968 |
Investments in affiliated issuers, at value (identified cost, $419,893,870) | 419,936,182 |
Receivables for | |
Fund shares sold | 8,799,449 |
Dividends | 7,388,413 |
Other assets | 8,694 |
Total assets | $13,108,913,706 |
Liabilities | |
Payable to custodian | $3 |
Payables for | |
Investments purchased | 15,212,579 |
Fund shares reacquired | 15,321,366 |
Payable to affiliates | |
Investment adviser | 448,973 |
Administrative services fee | 3,390 |
Shareholder servicing costs | 2,936,155 |
Distribution and service fees | 34,817 |
Payable for independent Trustees' compensation | 674 |
Accrued expenses and other liabilities | 650,957 |
Total liabilities | $34,608,914 |
Net assets | $13,074,304,792 |
Net assets consist of | |
Paid-in capital | $9,359,332,635 |
Total distributable earnings (loss) | 3,714,972,157 |
Net assets | $13,074,304,792 |
Shares of beneficial interest outstanding | 489,497,613 |
Net assets | Shares outstanding | Net asset value per share (a) | |
Class A | $1,560,930,980 | 62,361,509 | $25.03 |
Class B | 8,033,465 | 411,006 | 19.55 |
Class C | 76,215,737 | 4,034,490 | 18.89 |
Class I | 3,541,200,845 | 131,210,654 | 26.99 |
Class R1 | 3,096,983 | 159,292 | 19.44 |
Class R2 | 23,392,685 | 1,009,614 | 23.17 |
Class R3 | 592,711,715 | 23,840,600 | 24.86 |
Class R4 | 268,875,323 | 10,215,692 | 26.32 |
Class R6 | 6,999,847,059 | 256,254,756 | 27.32 |
(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 $26.56 [100 / 94.25 x $25.03]. 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 | $89,091,626 |
Dividends from affiliated issuers | 13,346,895 |
Other | 267,956 |
Income on securities loaned | 1,695 |
Foreign taxes withheld | (1,118,079) |
Total investment income | $101,590,093 |
Expenses | |
Management fee | $82,111,221 |
Distribution and service fees | 6,127,552 |
Shareholder servicing costs | 8,747,225 |
Administrative services fee | 630,831 |
Independent Trustees' compensation | 127,090 |
Custodian fee | 389,544 |
Shareholder communications | 801,963 |
Audit and tax fees | 66,699 |
Legal fees | 69,766 |
Miscellaneous | 517,933 |
Total expenses | $99,589,824 |
Fees paid indirectly | (4,304) |
Reduction of expenses by investment adviser and distributor | (1,663,241) |
Net expenses | $97,922,279 |
Net investment income (loss) | $3,667,814 |
Realized and unrealized gain (loss) | |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers | $(225,167,497) |
Affiliated issuers | (14,265) |
Foreign currency | 36,737 |
Net realized gain (loss) | $(225,145,025) |
Change in unrealized appreciation or depreciation | |
Unaffiliated issuers | $1,583,084,127 |
Affiliated issuers | 44,524 |
Translation of assets and liabilities in foreign currencies | 12,296 |
Net unrealized gain (loss) | $1,583,140,947 |
Net realized and unrealized gain (loss) | $1,357,995,922 |
Change in net assets from operations | $1,361,663,736 |
Year ended | ||
8/31/23 | 8/31/22 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $3,667,814 | $(41,117,061) |
Net realized gain (loss) | (225,145,025) | 57,533,222 |
Net unrealized gain (loss) | 1,583,140,947 | (4,448,543,700) |
Change in net assets from operations | $1,361,663,736 | $(4,432,127,539) |
Total distributions to shareholders | $— | $(537,250,947) |
Change in net assets from fund share transactions | $(1,488,530,966) | $2,159,735,658 |
Total change in net assets | $(126,867,230) | $(2,809,642,828) |
Net assets | ||
At beginning of period | 13,201,172,022 | 16,010,814,850 |
At end of period | $13,074,304,792 | $13,201,172,022 |
Class A | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $22.55 | $31.84 | $24.65 | $20.19 | $19.16 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.06) | $(0.15) | $(0.18) | $(0.07) | $(0.07) |
Net realized and unrealized gain (loss) | 2.54 | (8.02) | 7.60 | 4.71 | 1.83 |
Total from investment operations | $2.48 | $(8.17) | $7.42 | $4.64 | $1.76 |
Less distributions declared to shareholders | |||||
From net realized gain | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) |
Net asset value, end of period (x) | $25.03 | $22.55 | $31.84 | $24.65 | $20.19 |
Total return (%) (r)(s)(t)(x) | 11.00 | (26.53) | 30.30 | 23.16 | 10.13 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.04 | 1.03 | 1.01 | 1.05 | 1.10 |
Expenses after expense reductions (f) | 1.03 | 1.01 | 1.00 | 1.04 | 1.09 |
Net investment income (loss) | (0.24) | (0.54) | (0.65) | (0.35) | (0.36) |
Portfolio turnover | 30 | 21 | 23 | 34 | 21 |
Net assets at end of period (000 omitted) | $1,560,931 | $1,477,097 | $2,130,372 | $1,483,320 | $1,065,566 |
Class B | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $17.75 | $25.48 | $19.91 | $16.47 | $15.90 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.18) | $(0.28) | $(0.31) | $(0.19) | $(0.17) |
Net realized and unrealized gain (loss) | 1.98(g) | (6.33)(g) | 6.11 | 3.81 | 1.47 |
Total from investment operations | $1.80 | $(6.61) | $5.80 | $3.62 | $1.30 |
Less distributions declared to shareholders | |||||
From net realized gain | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) |
Net asset value, end of period (x) | $19.55 | $17.75 | $25.48 | $19.91 | $16.47 |
Total return (%) (r)(s)(t)(x) | 10.14 | (27.05) | 29.36 | 22.20 | 9.28 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.79 | 1.78 | 1.76 | 1.80 | 1.85 |
Expenses after expense reductions (f) | 1.78 | 1.76 | 1.75 | 1.79 | 1.84 |
Net investment income (loss) | (0.99) | (1.30) | (1.39) | (1.10) | (1.12) |
Portfolio turnover | 30 | 21 | 23 | 34 | 21 |
Net assets at end of period (000 omitted) | $8,033 | $10,002 | $18,021 | $17,725 | $18,581 |
Class C | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $17.15 | $24.66 | $19.28 | $15.95 | $15.42 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.17) | $(0.27) | $(0.30) | $(0.18) | $(0.16) |
Net realized and unrealized gain (loss) | 1.91(g) | (6.12)(g) | 5.91(g) | 3.69 | 1.42 |
Total from investment operations | $1.74 | $(6.39) | $5.61 | $3.51 | $1.26 |
Less distributions declared to shareholders | |||||
From net realized gain | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) |
Net asset value, end of period (x) | $18.89 | $17.15 | $24.66 | $19.28 | $15.95 |
Total return (%) (r)(s)(t)(x) | 10.15 | (27.06) | 29.34 | 22.23 | 9.31 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.79 | 1.78 | 1.76 | 1.80 | 1.85 |
Expenses after expense reductions (f) | 1.78 | 1.76 | 1.75 | 1.79 | 1.84 |
Net investment income (loss) | (0.99) | (1.30) | (1.40) | (1.10) | (1.11) |
Portfolio turnover | 30 | 21 | 23 | 34 | 21 |
Net assets at end of period (000 omitted) | $76,216 | $85,842 | $137,007 | $109,521 | $78,858 |
Class I | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $24.26 | $34.07 | $26.30 | $21.48 | $20.28 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.00(w) | $(0.08) | $(0.12) | $(0.02) | $(0.02) |
Net realized and unrealized gain (loss) | 2.73 | (8.61) | 8.12 | 5.02 | 1.95 |
Total from investment operations | $2.73 | $(8.69) | $8.00 | $5.00 | $1.93 |
Less distributions declared to shareholders | |||||
From net realized gain | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) |
Net asset value, end of period (x) | $26.99 | $24.26 | $34.07 | $26.30 | $21.48 |
Total return (%) (r)(s)(t)(x) | 11.25 | (26.32) | 30.60 | 23.45 | 10.42 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.79 | 0.78 | 0.76 | 0.80 | 0.84 |
Expenses after expense reductions (f) | 0.78 | 0.77 | 0.75 | 0.79 | 0.83 |
Net investment income (loss) | 0.01 | (0.28) | (0.40) | (0.10) | (0.09) |
Portfolio turnover | 30 | 21 | 23 | 34 | 21 |
Net assets at end of period (000 omitted) | $3,541,201 | $4,344,475 | $4,444,325 | $3,837,781 | $1,330,368 |
Class R1 | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $17.65 | $25.35 | $19.81 | $16.39 | $15.82 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.18) | $(0.28) | $(0.31) | $(0.18) | $(0.17) |
Net realized and unrealized gain (loss) | 1.97(g) | (6.30)(g) | 6.08 | 3.78 | 1.47 |
Total from investment operations | $1.79 | $(6.58) | $5.77 | $3.60 | $1.30 |
Less distributions declared to shareholders | |||||
From net realized gain | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) |
Net asset value, end of period (x) | $19.44 | $17.65 | $25.35 | $19.81 | $16.39 |
Total return (%) (r)(s)(t)(x) | 10.14 | (27.07) | 29.36 | 22.18 | 9.33 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.79 | 1.78 | 1.76 | 1.80 | 1.85 |
Expenses after expense reductions (f) | 1.78 | 1.76 | 1.75 | 1.79 | 1.84 |
Net investment income (loss) | (0.99) | (1.30) | (1.39) | (1.09) | (1.12) |
Portfolio turnover | 30 | 21 | 23 | 34 | 21 |
Net assets at end of period (000 omitted) | $3,097 | $3,040 | $5,281 | $4,187 | $3,472 |
Class R2 | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $20.93 | $29.70 | $23.06 | $18.95 | $18.08 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.10) | $(0.20) | $(0.24) | $(0.12) | $(0.11) |
Net realized and unrealized gain (loss) | 2.34 | (7.45) | 7.11 | 4.41 | 1.71 |
Total from investment operations | $2.24 | $(7.65) | $6.87 | $4.29 | $1.60 |
Less distributions declared to shareholders | |||||
From net realized gain | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) |
Net asset value, end of period (x) | $23.17 | $20.93 | $29.70 | $23.06 | $18.95 |
Total return (%) (r)(s)(t)(x) | 10.70 | (26.70) | 30.00 | 22.83 | 9.84 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.29 | 1.28 | 1.26 | 1.30 | 1.35 |
Expenses after expense reductions (f) | 1.28 | 1.27 | 1.25 | 1.29 | 1.34 |
Net investment income (loss) | (0.49) | (0.79) | (0.90) | (0.60) | (0.61) |
Portfolio turnover | 30 | 21 | 23 | 34 | 21 |
Net assets at end of period (000 omitted) | $23,393 | $21,633 | $29,120 | $15,176 | $11,060 |
Class R3 | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $22.40 | $31.63 | $24.49 | $20.06 | $19.04 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $(0.05) | $(0.14) | $(0.18) | $(0.07) | $(0.06) |
Net realized and unrealized gain (loss) | 2.51 | (7.97) | 7.55 | 4.68 | 1.81 |
Total from investment operations | $2.46 | $(8.11) | $7.37 | $4.61 | $1.75 |
Less distributions declared to shareholders | |||||
From net realized gain | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) |
Net asset value, end of period (x) | $24.86 | $22.40 | $31.63 | $24.49 | $20.06 |
Total return (%) (r)(s)(t)(x) | 10.98 | (26.52) | 30.29 | 23.16 | 10.14 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 1.04 | 1.03 | 1.01 | 1.05 | 1.09 |
Expenses after expense reductions (f) | 1.03 | 1.01 | 1.00 | 1.04 | 1.09 |
Net investment income (loss) | (0.24) | (0.54) | (0.65) | (0.35) | (0.34) |
Portfolio turnover | 30 | 21 | 23 | 34 | 21 |
Net assets at end of period (000 omitted) | $592,712 | $557,897 | $777,474 | $451,972 | $239,505 |
Class R4 | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $23.66 | $33.25 | $25.67 | $20.97 | $19.82 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.00(w) | $(0.08) | $(0.12) | $(0.02) | $(0.02) |
Net realized and unrealized gain (loss) | 2.66 | (8.39) | 7.93 | 4.90 | 1.90 |
Total from investment operations | $2.66 | $(8.47) | $7.81 | $4.88 | $1.88 |
Less distributions declared to shareholders | |||||
From net realized gain | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) |
Net asset value, end of period (x) | $26.32 | $23.66 | $33.25 | $25.67 | $20.97 |
Total return (%) (r)(s)(t)(x) | 11.24 | (26.30) | 30.61 | 23.45 | 10.40 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.79 | 0.78 | 0.76 | 0.80 | 0.84 |
Expenses after expense reductions (f) | 0.78 | 0.76 | 0.75 | 0.79 | 0.83 |
Net investment income (loss) | 0.01 | (0.29) | (0.40) | (0.10) | (0.08) |
Portfolio turnover | 30 | 21 | 23 | 34 | 21 |
Net assets at end of period (000 omitted) | $268,875 | $300,198 | $389,323 | $242,937 | $173,441 |
Class R6 | Year ended | ||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $24.52 | $34.39 | $26.51 | $21.63 | $20.40 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.04 | $(0.05) | $(0.09) | $(0.00)(w) | $(0.00)(w) |
Net realized and unrealized gain (loss) | 2.76 | (8.70) | 8.20 | 5.06 | 1.96 |
Total from investment operations | $2.80 | $(8.75) | $8.11 | $5.06 | $1.96 |
Less distributions declared to shareholders | |||||
From net realized gain | $— | $(1.12) | $(0.23) | $(0.18) | $(0.73) |
Net asset value, end of period (x) | $27.32 | $24.52 | $34.39 | $26.51 | $21.63 |
Total return (%) (r)(s)(t)(x) | 11.42 | (26.24) | 30.78 | 23.57 | 10.51 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.67 | 0.66 | 0.66 | 0.70 | 0.75 |
Expenses after expense reductions (f) | 0.65 | 0.65 | 0.65 | 0.69 | 0.74 |
Net investment income (loss) | 0.14 | (0.18) | (0.30) | (0.01) | (0.01) |
Portfolio turnover | 30 | 21 | 23 | 34 | 21 |
Net assets at end of period (000 omitted) | $6,999,847 | $6,400,990 | $8,056,150 | $5,343,295 | $3,053,325 |
(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. |
(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 | $11,377,545,646 | $— | $— | $11,377,545,646 |
Netherlands | 491,186,698 | — | — | 491,186,698 |
Canada | 401,760,309 | 0 | — | 401,760,309 |
Israel | 116,545,528 | — | — | 116,545,528 |
Belgium | 110,321,177 | — | — | 110,321,177 |
Denmark | 88,520,882 | — | — | 88,520,882 |
China | 86,900,728 | — | — | 86,900,728 |
Mutual Funds | 419,936,182 | — | — | 419,936,182 |
Total | $13,092,717,150 | $0 | $— | $13,092,717,150 |
Year ended 8/31/23 | Year ended 8/31/22 | |
Long-term capital gains | $— | $537,250,947 |
As of 8/31/23 | |
Cost of investments | $9,114,737,922 |
Gross appreciation | 4,284,542,012 |
Gross depreciation | (306,562,784) |
Net unrealized appreciation (depreciation) | $3,977,979,228 |
Capital loss carryforwards | (262,818,736) |
Late year ordinary loss deferral | (176,108) |
Other temporary differences | (12,227) |
Total distributable earnings (loss) | $3,714,972,157 |
Short-Term | $(262,818,736) |
Year ended 8/31/23 | 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% | $ 3,696,946 |
Class B | 0.75% | 0.25% | 1.00% | 1.00% | 87,771 |
Class C | 0.75% | 0.25% | 1.00% | 1.00% | 784,591 |
Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 30,255 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 108,864 |
Class R3 | — | 0.25% | 0.25% | 0.25% | 1,419,125 |
Total Distribution and Service Fees | $6,127,552 |
(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 year ended August 31, 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 year ended August 31, 2023, this rebate amounted to $415 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 | $25,248 |
Class B | 3,980 |
Class C | 3,859 |
Year ended 8/31/23 | Year ended 8/31/22 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | |||||
Class A | 6,793,284 | $157,786,486 | 9,868,708 | $265,315,267 | |
Class B | 4,974 | 93,494 | 14,516 | 307,178 | |
Class C | 339,404 | 5,947,419 | 534,315 | 11,139,743 | |
Class I | 32,405,384 | 802,020,268 | 89,719,506 | 2,507,689,230 | |
Class R1 | 28,035 | 508,425 | 49,304 | 944,614 | |
Class R2 | 200,572 | 4,328,218 | 283,121 | 6,705,228 | |
Class R3 | 3,483,597 | 79,637,903 | 5,565,877 | 152,192,681 | |
Class R4 | 1,244,875 | 30,125,069 | 3,417,403 | 98,438,861 | |
Class R6 | 47,356,728 | 1,192,536,320 | 62,579,666 | 1,796,018,041 | |
Class 529A | — | — | 148,939 | 3,902,308 | |
Class 529C | — | — | 3,364 | 72,642 | |
91,856,853 | $2,272,983,602 | 172,184,719 | $4,842,725,793 |
Year ended 8/31/23 | Year ended 8/31/22 | ||||
Shares | Amount | Shares | Amount | ||
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 | ||
Shares reacquired | |||||
Class A | (9,923,273) | $(229,185,981) | (13,524,270) | $(365,851,473) | |
Class B | (157,611) | (2,852,374) | (189,482) | (3,953,877) | |
Class C | (1,310,183) | (22,895,214) | (1,347,145) | (26,777,702) | |
Class I | (80,289,596) | (1,995,690,788) | (45,501,419) | (1,269,169,583) | |
Class R1 | (40,959) | (738,986) | (94,474) | (1,950,615) | |
Class R2 | (224,530) | (4,795,328) | (267,999) | (6,609,163) | |
Class R3 | (4,547,088) | (105,133,340) | (6,163,771) | (165,731,977) | |
Class R4 | (3,718,861) | (87,895,279) | (2,855,925) | (83,173,120) | |
Class R6 | (52,147,027) | (1,312,327,278) | (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) | |
(152,359,128) | $(3,761,514,568) | (114,555,098) | $(3,198,641,136) |
Year ended 8/31/23 | Year ended 8/31/22 | ||||
Shares | Amount | Shares | Amount | ||
Net change | |||||
Class A | (3,129,989) | $(71,399,495) | (1,426,169) | $(33,409,224) | |
Class B | (152,637) | (2,758,880) | (143,744) | (2,902,927) | |
Class C | (970,779) | (16,947,795) | (550,393) | (9,596,648) | |
Class I | (47,884,212) | (1,193,670,520) | 48,646,743 | 1,381,698,083 | |
Class R1 | (12,924) | (230,561) | (36,138) | (792,039) | |
Class R2 | (23,958) | (467,110) | 53,026 | 1,157,000 | |
Class R3 | (1,063,491) | (25,495,437) | 322,587 | 13,992,304 | |
Class R4 | (2,473,986) | (57,770,210) | 982,393 | 28,537,206 | |
Class R6 | (4,790,299) | (119,790,958) | 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) | |
(60,502,275) | $(1,488,530,966) | 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 | $1,972,766,059 | $2,010,243,103 | $(14,265) | $44,524 | $419,936,182 |
Affiliated Issuers | Dividend Income | Capital Gain Distributions |
MFS Institutional Money Market Portfolio | $13,346,895 | $— |
Redemption In-Kind Date | Portfolio Securities and Cash Amount | Realized Gain (Loss) | ||
October 5, 2022 | $89,074,330 | $39,934,632 | ||
March 13, 2023 | $20,713,604 | $9,316,725 |
October 16, 2023
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
INTERESTED TRUSTEE | ||||||||||
Michael W. Roberge (k) (age 57) | Trustee | January 2021 | 136 | Massachusetts Financial Services Company, Chairman (since January 2021); Chief Executive Officer (since January 2017); Director; Chairman of the Board (since January 2022); President (until December 2018); Chief Investment Officer (until December 2018) | N/A | |||||
INDEPENDENT TRUSTEES | ||||||||||
John P. Kavanaugh (age 68) | Trustee and Chair of Trustees | January 2009 | 136 | Private investor | N/A | |||||
Steven E. Buller (age 72) | Trustee | February 2014 | 136 | Private investor | N/A | |||||
John A. Caroselli (age 69) | Trustee | March 2017 | 136 | Private investor; JC Global Advisors, LLC (management consulting), President (since 2015) | N/A | |||||
Maureen R. Goldfarb (age 68) | Trustee | January 2009 | 136 | Private investor | N/A | |||||
Peter D. Jones (age 68) | Trustee | January 2019 | 136 | Private investor | N/A | |||||
James W. Kilman, Jr. (age 62) | Trustee | January 2019 | 136 | Burford Capital Limited (finance and investment management), Senior Advisor (since May 3, 2021), Chief Financial Officer (2019 - May 2, 2021); KielStrand Capital LLC (family office), Chief Executive Officer (since 2016) | Alpha-En Corporation, Director (2016-2019) |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
Clarence Otis, Jr. (age 67) | Trustee | March 2017 | 136 | Private investor | VF Corporation, Director; Verizon Communications, Inc., Director; The Travelers Companies, Director | |||||
Maryanne L. Roepke (age 67) | Trustee | May 2014 | 136 | Private investor | N/A | |||||
Laurie J. Thomsen (age 66) | Trustee | March 2005 | 136 | Private investor | The Travelers Companies, Director; Dycom Industries, Inc., Director |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
OFFICERS | ||||||||
Christopher R. Bohane (k) (age 49) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President and Senior Managing Counsel | ||||
Kino Clark (k) (age 55) | Assistant Treasurer | January 2012 | 136 | Massachusetts Financial Services Company, Vice President | ||||
John W. Clark, Jr. (k) (age 56) | Assistant Treasurer | April 2017 | 136 | Massachusetts Financial Services Company, Vice President | ||||
David L. DiLorenzo (k) (age 55) | President | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President | ||||
Heidi W. Hardin (k) (age 56) | Secretary and Clerk | April 2017 | 136 | Massachusetts Financial Services Company, Executive Vice President and General Counsel | ||||
Brian E. Langenfeld (k) (age 50) | Assistant Secretary and Assistant Clerk | June 2006 | 136 | Massachusetts Financial Services Company, Vice President and Managing Counsel |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
Rosa E. Licea-Mailloux (k) (age 47) | Chief Compliance Officer | March 2022 | 136 | Massachusetts Financial Services Company, Vice President (since 2018); Director of Corporate Compliance (2018-2021), Senior Director Compliance (2021-2022), Senior Managing Director of North American Compliance & Chief Compliance Officer (since March 2022); Natixis Investment Managers (investment management), Funds Chief Compliance Officer, Deputy General Counsel & Senior Vice President (until 2018) | ||||
Amanda S. Mooradian (k) (age 44) | Assistant Secretary and Assistant Clerk | September 2018 | 136 | Massachusetts Financial Services Company, Assistant Vice President and Senior Counsel | ||||
Susan A. Pereira (k) (age 52) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Vice President and Managing Counsel | ||||
Kasey L. Phillips (k) (age 52) | Assistant Treasurer | September 2012 | 136 | Massachusetts Financial Services Company, Vice President | ||||
Matthew A. Stowe (k) (age 48) | Assistant Secretary and Assistant Clerk | October 2014 | 136 | Massachusetts Financial Services Company, Vice President and Senior Managing Counsel | ||||
William B. Wilson (k) (age 41) | Assistant Secretary and Assistant Clerk | October 2022 | 136 | Massachusetts Financial Services Company, Assistant Vice President and Senior Counsel | ||||
James O. Yost (k) (age 63) | Treasurer | September 1990 | 136 | Massachusetts Financial Services Company, Senior Vice President |
(h) | Date first appointed to serve as Trustee/Officer of an MFS Fund. Each Trustee has served continuously since appointment unless indicated otherwise. From January 2012 through December 2016, Messrs. DiLorenzo and Yost served as Treasurer and Deputy Treasurer of the Funds, respectively. |
(j) | Directorships or trusteeships of companies required to report to the Securities and Exchange Commission (i.e., “public companies”). |
(k) | “Interested person” of the Trust within the meaning of the Investment Company Act of 1940 (referred to as the 1940 Act), which is the principal federal law governing investment companies like the fund, as a result of a position with MFS. The address of MFS is 111 Huntington Avenue, Boston, Massachusetts 02199-7618. |
Investment Adviser | Custodian |
Massachusetts Financial Services Company 111 Huntington Avenue Boston, MA 02199-7618 | JPMorgan Chase Bank, NA 4 Metrotech Center New York, NY 11245 |
Distributor | Independent Registered Public Accounting Firm |
MFS Fund Distributors, Inc. 111 Huntington Avenue Boston, MA 02199-7618 | Deloitte & Touche LLP 200 Berkeley Street Boston, MA 02116 |
Portfolio Manager(s) | |
Eric Braz Eric Fischman |
The Investment Company Act of 1940 requires that both the full Board of Trustees and a majority of the non-interested (“independent”) Trustees, voting separately, annually approve the continuation of the Fund’s investment advisory agreement with MFS. The Trustees consider matters bearing on the Fund and its advisory arrangements at their meetings throughout the year, including a review of performance data at each regular meeting. In addition, the independent Trustees met several times over the course of three months beginning in May and ending in July, 2023 (“contract review meetings”) for the specific purpose of considering whether to approve the continuation of the investment advisory agreement for the Fund and the other investment companies that the Board oversees (the “MFS Funds”). The independent Trustees were assisted in their evaluation of the Fund’s investment advisory agreement by independent legal counsel, from whom they received separate legal advice and with whom they met separately from MFS during various contract review meetings. The independent Trustees were also assisted in this process by an independent consultant who was retained by and reported to the independent Trustees.
FACTS | WHAT DOES MFS DO WITH YOUR PERSONAL INFORMATION? |
Why? | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
What? | The types of personal information we collect and share depend on the product or service you have with us. This information can include: |
• Social Security number and account balances | |
• Account transactions and transaction history | |
• Checking account information and wire transfer instructions | |
When you are no longer our customer, we continue to share your information as described in this notice. |
How? | All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons MFS chooses to share; and whether you can limit this sharing. |
Reasons we can share your personal information | Does MFS share? | Can you limit this sharing? |
For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus | Yes | No |
For our marketing purposes – to offer our products and services to you | No | We don't share |
For joint marketing with other financial companies | No | We don't share |
For our affiliates' everyday business purposes – information about your transactions and experiences | No | We don't share |
For our affiliates' everyday business purposes – information about your creditworthiness | No | We don't share |
For nonaffiliates to market to you | No | We don't share |
Questions? | Call 800-225-2606 or go to mfs.com. |
Who we are | |
Who is providing this notice? | MFS Funds, MFS Investment Management, MFS Institutional Advisors, Inc., and MFS Heritage Trust Company. |
What we do | |
How does MFS protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include procedural, electronic, and physical safeguards for the protection of the personal information we collect about you. |
How does MFS collect my personal information? | We collect your personal information, for example, when you |
• open an account or provide account information | |
• direct us to buy securities or direct us to sell your securities | |
• make a wire transfer | |
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. | |
Why can't I limit all sharing? | Federal law gives you the right to limit only |
• sharing for affiliates' everyday business purposes – information about your creditworthiness | |
• affiliates from using your information to market to you | |
• sharing for nonaffiliates to market to you | |
State laws and individual companies may give you additional rights to limit sharing. |
Definitions | |
Affiliates | Companies related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share personal information with affiliates, except for everyday business purposes as described on page one of this notice. | |
Nonaffiliates | Companies not related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share with nonaffiliates so they can market to you. | |
Joint marketing | A formal agreement between nonaffiliated financial companies that together market financial products or services to you. |
• MFS doesn't jointly market. |
Other important information |
If you own an MFS product or receive an MFS service in the name of a third party such as a bank or broker-dealer, their privacy policy may apply to you instead of ours. |
Money Market Fund
Money Market Fund
1 | |
2 | |
3 | |
4 | |
5 | |
6 | |
7 | |
8 | |
9 | |
15 | |
17 | |
21 | |
25 | |
25 | |
25 | |
25 | |
25 | |
26 |
back cover |
0 - 7 days | 41.2% |
8 - 29 days | 28.1% |
30 - 59 days | 21.1% |
60 - 89 days | 9.8% |
Other Assets Less Liabilities | (0.2)% |
A-1+ | 53.7% |
A-1 | 46.5% |
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. |
Inception | 1-Year Total Return (without sales charge) | Current 7-day yield |
12/19/75 | 3.81% | 4.87% |
March 1, 2023 through August 31, 2023
Annualized Expense Ratio | Beginning Account Value 3/01/23 | Ending Account Value 8/31/23 | Expenses Paid During Period (p) 3/01/23-8/31/23 | |
Actual | 0.45% | $1,000.00 | $1,022.31 | $2.29 |
Hypothetical (h) | 0.45% | $1,000.00 | $1,022.94 | $2.29 |
(h) | 5% fund return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to the fund's annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
U.S. Government Agencies and Equivalents (y) – 85.1% | ||||
Fannie Mae, 5.2%, due 9/05/2023 | $47,100,000 | $47,072,891 | ||
Federal Farm Credit Bank, 5.27%, due 9/13/2023 | 17,650,000 | 17,619,113 | ||
Federal Home Loan Bank, 5.21%, due 9/19/2023 | 17,200,000 | 17,155,624 | ||
Federal Home Loan Bank, 5.3%, due 10/10/2023 | 23,250,000 | 23,118,018 | ||
Freddie Mac, 5.19%, due 9/05/2023 | 17,200,000 | 17,190,100 | ||
U.S. Treasury Bill, 5.27%, due 9/07/2023 | 37,350,000 | 37,317,288 | ||
U.S. Treasury Bill, 5.06%, due 9/12/2023 | 22,000,000 | 21,966,527 | ||
U.S. Treasury Bill, 4.83%, due 9/14/2023 | 19,250,000 | 19,216,984 | ||
U.S. Treasury Bill, 5.3%, due 9/26/2023 | 33,500,000 | 33,377,644 | ||
U.S. Treasury Bill, 5.27%, due 10/10/2023 | 59,250,000 | 58,914,973 | ||
U.S. Treasury Bill, 5.33%, due 11/09/2023 | 19,500,000 | 19,303,239 | ||
U.S. Treasury Bill, 5.35%, due 11/16/2023 | 18,790,000 | 18,580,276 | ||
Total U.S. Government Agencies and Equivalents, at Amortized Cost and Value | $330,832,677 | |||
Repurchase Agreements – 15.1% | ||||
BofA Securities, Inc. Repurchase Agreement, 5.27%, dated 8/31/2023, due 9/01/2023, total to be received $19,533,859 (secured by U.S. Treasury and/or U.S. Government Agency Securities valued at $19,928,310) | $19,531,000 | $19,531,000 | ||
Fixed Income Clearing Corp-State Street Bank & Trust Co. Repurchase Agreement, 5.28%, dated 8/31/2023, due 9/01/2023, total to be received $19,534,865 (secured by U.S. Treasury and/or U.S. Government Agency Securities valued at $19,922,651) | 19,532,000 | 19,532,000 | ||
JPMorgan Chase & Co. Repurchase Agreement, 5.28%, dated 8/31/2023, due 9/01/2023, total to be received $19,536,865 (secured by U.S. Treasury and/or U.S. Government Agency Securities valued at $19,927,603) | 19,534,000 | 19,534,000 | ||
Total Repurchase Agreements, at Cost and Value | $58,597,000 | |||
Other Assets, Less Liabilities – (0.2)% | (712,962) | |||
Net Assets – 100.0% | $388,716,715 |
(y) | The rate shown represents an annualized yield at time of purchase. |
Assets | |
Investments in unaffiliated issuers, at cost and value | $330,832,677 |
Investments in unaffiliated repurchase agreements, at cost and value | 58,597,000 |
Cash | 234 |
Receivables for | |
Fund shares sold | 169,907 |
Interest | 8,589 |
Receivable from investment adviser and distributor | 35,583 |
Other assets | 506 |
Total assets | $389,644,496 |
Liabilities | |
Payables for | |
Distributions | $2,929 |
Fund shares reacquired | 780,517 |
Payable to affiliates | |
Administrative services fee | 361 |
Shareholder servicing costs | 84,847 |
Payable for independent Trustees' compensation | 780 |
Accrued expenses and other liabilities | 58,347 |
Total liabilities | $927,781 |
Net assets | $388,716,715 |
Net assets consist of | |
Paid-in capital | $388,725,205 |
Total distributable earnings (loss) | (8,490) |
Net assets | $388,716,715 |
Shares of beneficial interest outstanding | 388,723,290 |
Net asset value per share (net assets of $388,716,715 / 388,723,290 shares of beneficial interest outstanding) | $1.00 |
Net investment income (loss) | |
Income | |
Interest | $18,287,573 |
Other | 8,908 |
Total investment income | $18,296,481 |
Expenses | |
Management fee | $1,766,112 |
Shareholder servicing costs | 493,028 |
Administrative services fee | 74,741 |
Independent Trustees' compensation | 10,677 |
Custodian fee | 20,088 |
Shareholder communications | 13,713 |
Audit and tax fees | 47,954 |
Legal fees | 3,779 |
Miscellaneous | 104,267 |
Total expenses | $2,534,359 |
Fees paid indirectly | (20,088) |
Reduction of expenses by investment adviser | (545,097) |
Net expenses | $1,969,174 |
Net investment income (loss) | $16,327,307 |
Change in net assets from operations | $16,327,307 |
Year ended | ||
8/31/23 | 8/31/22 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $16,327,307 | $1,244,698 |
Net realized gain (loss) | — | (5,979) |
Change in net assets from operations | $16,327,307 | $1,238,719 |
Total distributions to shareholders | $(16,327,307) | $(1,285,595) |
Change in net assets from fund share transactions | $(75,638,632) | $120,193,159 |
Total change in net assets | $(75,638,632) | $120,146,283 |
Net assets | ||
At beginning of period | 464,355,347 | 344,209,064 |
At end of period | $388,716,715 | $464,355,347 |
Year ended | |||||
8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | 8/31/19 | |
Net asset value, beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.04 | $0.00(w) | $0.00 | $0.00(w) | $0.02 |
Net realized and unrealized gain (loss) | — | (0.00)(w) | 0.00(w) | 0.01 | 0.00(w) |
Total from investment operations | $0.04 | $0.00(w) | $0.00(w) | $0.01 | $0.02 |
Less distributions declared to shareholders | |||||
From net investment income | $(0.04) | $(0.00)(w) | $— | $(0.01) | $(0.02) |
From net realized gain | — | (0.00)(w) | — | — | — |
Total distributions declared to shareholders | $(0.04) | $(0.00)(w) | $— | $(0.01) | $(0.02) |
Net asset value, end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total return (%) (r)(t) | 3.81 | 0.27 | 0.00 | 0.61 | 1.70 |
Ratios (%) (to average net assets) and Supplemental data: | |||||
Expenses before expense reductions (f) | 0.57 | 0.59 | 0.55 | 0.60 | 0.62 |
Expenses after expense reductions (f) | 0.45 | 0.23 | 0.06 | 0.36 | 0.61 |
Net investment income (loss) | 3.70 | 0.31 | 0.00 | 0.45 | 1.69 |
Net assets at end of period (000 omitted) | $388,717 | $464,355 | $344,209 | $518,651 | $303,799 |
(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. |
(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 | $— | $389,429,677 | $— | $389,429,677 |
Year ended 8/31/23 | Year ended 8/31/22 | |
Ordinary income (including any short-term capital gains) | $16,327,307 | $1,285,595 |
As of 8/31/23 | |
Cost of investments | $389,429,677 |
Undistributed ordinary income | 1,148 |
Capital loss carryforwards | (5,979) |
Other temporary differences | (3,659) |
Total distributable earnings (loss) | $(8,490) |
Short-Term | $(5,979) |
Up to $1 billion | 0.40% |
In excess of $1 billion | 0.35% |
Year ended 8/31/23 | Year ended 8/31/22 | ||
Shares sold | 224,642,194 | 379,490,959 | |
Shares issued to shareholders in reinvestment of distributions | 16,262,845 | 1,279,610 | |
Shares reacquired | (316,543,671) | (260,577,410) | |
Net change | (75,638,632) | 120,193,159 |
October 16, 2023
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
INTERESTED TRUSTEE | ||||||||||
Michael W. Roberge (k) (age 57) | Trustee | January 2021 | 136 | Massachusetts Financial Services Company, Chairman (since January 2021); Chief Executive Officer (since January 2017); Director; Chairman of the Board (since January 2022); President (until December 2018); Chief Investment Officer (until December 2018) | N/A | |||||
INDEPENDENT TRUSTEES | ||||||||||
John P. Kavanaugh (age 68) | Trustee and Chair of Trustees | January 2009 | 136 | Private investor | N/A | |||||
Steven E. Buller (age 72) | Trustee | February 2014 | 136 | Private investor | N/A | |||||
John A. Caroselli (age 69) | Trustee | March 2017 | 136 | Private investor; JC Global Advisors, LLC (management consulting), President (since 2015) | N/A | |||||
Maureen R. Goldfarb (age 68) | Trustee | January 2009 | 136 | Private investor | N/A | |||||
Peter D. Jones (age 68) | Trustee | January 2019 | 136 | Private investor | N/A | |||||
James W. Kilman, Jr. (age 62) | Trustee | January 2019 | 136 | Burford Capital Limited (finance and investment management), Senior Advisor (since May 3, 2021), Chief Financial Officer (2019 - May 2, 2021); KielStrand Capital LLC (family office), Chief Executive Officer (since 2016) | Alpha-En Corporation, Director (2016-2019) |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds overseen by the Trustee | Principal Occupations During the Past Five Years | Other Directorships During the Past Five Years (j) | |||||
Clarence Otis, Jr. (age 67) | Trustee | March 2017 | 136 | Private investor | VF Corporation, Director; Verizon Communications, Inc., Director; The Travelers Companies, Director | |||||
Maryanne L. Roepke (age 67) | Trustee | May 2014 | 136 | Private investor | N/A | |||||
Laurie J. Thomsen (age 66) | Trustee | March 2005 | 136 | Private investor | The Travelers Companies, Director; Dycom Industries, Inc., Director |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
OFFICERS | ||||||||
Christopher R. Bohane (k) (age 49) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President and Senior Managing Counsel | ||||
Kino Clark (k) (age 55) | Assistant Treasurer | January 2012 | 136 | Massachusetts Financial Services Company, Vice President | ||||
John W. Clark, Jr. (k) (age 56) | Assistant Treasurer | April 2017 | 136 | Massachusetts Financial Services Company, Vice President | ||||
David L. DiLorenzo (k) (age 55) | President | July 2005 | 136 | Massachusetts Financial Services Company, Senior Vice President | ||||
Heidi W. Hardin (k) (age 56) | Secretary and Clerk | April 2017 | 136 | Massachusetts Financial Services Company, Executive Vice President and General Counsel | ||||
Brian E. Langenfeld (k) (age 50) | Assistant Secretary and Assistant Clerk | June 2006 | 136 | Massachusetts Financial Services Company, Vice President and Managing Counsel |
Name, Age | Position(s) Held with Fund | Trustee/Officer Since(h) | Number of MFS Funds for which the Person is an Officer | Principal Occupations During the Past Five Years | ||||
Rosa E. Licea-Mailloux (k) (age 47) | Chief Compliance Officer | March 2022 | 136 | Massachusetts Financial Services Company, Vice President (since 2018); Director of Corporate Compliance (2018-2021), Senior Director Compliance (2021-2022), Senior Managing Director of North American Compliance & Chief Compliance Officer (since March 2022); Natixis Investment Managers (investment management), Funds Chief Compliance Officer, Deputy General Counsel & Senior Vice President (until 2018) | ||||
Amanda S. Mooradian (k) (age 44) | Assistant Secretary and Assistant Clerk | September 2018 | 136 | Massachusetts Financial Services Company, Assistant Vice President and Senior Counsel | ||||
Susan A. Pereira (k) (age 52) | Assistant Secretary and Assistant Clerk | July 2005 | 136 | Massachusetts Financial Services Company, Vice President and Managing Counsel | ||||
Kasey L. Phillips (k) (age 52) | Assistant Treasurer | September 2012 | 136 | Massachusetts Financial Services Company, Vice President | ||||
Matthew A. Stowe (k) (age 48) | Assistant Secretary and Assistant Clerk | October 2014 | 136 | Massachusetts Financial Services Company, Vice President and Senior Managing Counsel | ||||
William B. Wilson (k) (age 41) | Assistant Secretary and Assistant Clerk | October 2022 | 136 | Massachusetts Financial Services Company, Assistant Vice President and Senior Counsel | ||||
James O. Yost (k) (age 63) | Treasurer | September 1990 | 136 | Massachusetts Financial Services Company, Senior Vice President |
(h) | Date first appointed to serve as Trustee/Officer of an MFS Fund. Each Trustee has served continuously since appointment unless indicated otherwise. From January 2012 through December 2016, Messrs. DiLorenzo and Yost served as Treasurer and Deputy Treasurer of the Funds, respectively. |
(j) | Directorships or trusteeships of companies required to report to the Securities and Exchange Commission (i.e., “public companies”). |
(k) | “Interested person” of the Trust within the meaning of the Investment Company Act of 1940 (referred to as the 1940 Act), which is the principal federal law governing investment companies like the fund, as a result of a position with MFS. The address of MFS is 111 Huntington Avenue, Boston, Massachusetts 02199-7618. |
Investment Adviser | Custodian |
Massachusetts Financial Services Company 111 Huntington Avenue Boston, MA 02199-7618 | State Street Bank and Trust Company 1 Congress Street, Suite 1 Boston, MA 02114-2016 |
Distributor | Independent Registered Public Accounting Firm |
MFS Fund Distributors, Inc. 111 Huntington Avenue Boston, MA 02199-7618 | Deloitte & Touche LLP 200 Berkeley Street Boston, MA 02116 |
FACTS | WHAT DOES MFS DO WITH YOUR PERSONAL INFORMATION? |
Why? | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
What? | The types of personal information we collect and share depend on the product or service you have with us. This information can include: |
• Social Security number and account balances | |
• Account transactions and transaction history | |
• Checking account information and wire transfer instructions | |
When you are no longer our customer, we continue to share your information as described in this notice. |
How? | All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons MFS chooses to share; and whether you can limit this sharing. |
Reasons we can share your personal information | Does MFS share? | Can you limit this sharing? |
For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus | Yes | No |
For our marketing purposes – to offer our products and services to you | No | We don't share |
For joint marketing with other financial companies | No | We don't share |
For our affiliates' everyday business purposes – information about your transactions and experiences | No | We don't share |
For our affiliates' everyday business purposes – information about your creditworthiness | No | We don't share |
For nonaffiliates to market to you | No | We don't share |
Questions? | Call 800-225-2606 or go to mfs.com. |
Who we are | |
Who is providing this notice? | MFS Funds, MFS Investment Management, MFS Institutional Advisors, Inc., and MFS Heritage Trust Company. |
What we do | |
How does MFS protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include procedural, electronic, and physical safeguards for the protection of the personal information we collect about you. |
How does MFS collect my personal information? | We collect your personal information, for example, when you |
• open an account or provide account information | |
• direct us to buy securities or direct us to sell your securities | |
• make a wire transfer | |
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. | |
Why can't I limit all sharing? | Federal law gives you the right to limit only |
• sharing for affiliates' everyday business purposes – information about your creditworthiness | |
• affiliates from using your information to market to you | |
• sharing for nonaffiliates to market to you | |
State laws and individual companies may give you additional rights to limit sharing. |
Definitions | |
Affiliates | Companies related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share personal information with affiliates, except for everyday business purposes as described on page one of this notice. | |
Nonaffiliates | Companies not related by common ownership or control. They can be financial and nonfinancial companies. |
• MFS does not share with nonaffiliates so they can market to you. | |
Joint marketing | A formal agreement between nonaffiliated financial companies that together market financial products or services to you. |
• MFS doesn't jointly market. |
Other important information |
If you own an MFS product or receive an MFS service in the name of a third party such as a bank or broker-dealer, their privacy policy may apply to you instead of ours. |
Item 1(b):
Not applicable.
ITEM 2. CODE OF ETHICS.
The Registrant has adopted a Code of Ethics (the "Code") pursuant to Section 406 of the Sarbanes-Oxley Act and as defined in Form N-CSR that applies to the Registrant's principal executive officer and principal financial and accounting officer. During the period covered by this report, the Registrant has not amended any provision in 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.
A copy of the Code is attached hereto as EX-99.COE.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Messrs. Steven E. Buller, James Kilman, and Clarence Otis, Jr. and Ms. Maryanne L. Roepke, members of the Audit Committee, have been determined by the Board of Trustees in their reasonable business judgment to meet the definition of "audit committee financial expert" as such term is defined in Form N-CSR. In addition, Messrs. Buller, Kilman, and Otis and Ms. Roepke are "independent" members of the Audit Committee (as such term has been defined by the Securities and Exchange Commission in regulations implementing Section 407 of the Sarbanes-Oxley Act of 2002). The Securities and Exchange Commission has stated that the designation of a person as an audit committee financial expert pursuant to this Item 3 on the Form N-CSR does not impose on such a person any duties, obligations or liability that are greater than the duties, obligations or liability imposed on such person as a member of the Audit Committee and the Board of Trustees in the absence of such designation or identification.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
Items 4(a) through 4(d) and 4(g):
The Board of Trustees has appointed Deloitte & Touche LLP ("Deloitte") to serve as independent accountants to certain series of the Registrant and Ernst & Young LLP ("E&Y") to serve in the same capacity to certain other series of the Registrant (each a "Fund" and collectively the "Funds"). The tables below set forth the audit fees billed to each Fund as well as fees for non-audit services provided to each Fund and/or to each Fund's investment adviser, Massachusetts Financial Services Company ("MFS"), and to various entities either controlling, controlled by, or under common control with MFS that provide ongoing services to the Funds ("MFS Related Entities").
For the fiscal years ended August 31, 2023 and 2022, audit fees billed to each Fund by Deloitte and E&Y were as follows:
Fees Billed by Deloitte |
| Audit Fees | |
| 2023 |
| 2022 |
MFS Mid Cap Growth Fund | 53,879 |
| 49,856 |
MFS U.S. Government Money Market | 38,892 |
| 36,005 |
Fund |
|
|
|
Total | 92,771 |
| 85,861 |
Fees Billed by E&Y |
| Audit Fees | |
| 2023 |
| 2022 |
MFS Blended Research Emerging Markets | 63,662 |
| 58,898 |
Equity Fund |
|
|
|
MFS Blended Research International Equity | 63,662 |
| 58,898 |
Fund |
|
|
|
MFS Global New Discovery Fund | 55,694 |
| 51,534 |
Total | 183,018 |
| 169,330 |
For the fiscal years ended August 31, 2023 and 2022, fees billed by Deloitte and E&Y for audit-related, tax and other services provided to each Fund and for audit-related, tax and other services provided to MFS and MFS Related Entities were as follows:
Fees Billed by Deloitte |
|
| Audit-Related Fees1 |
| Tax Fees2 |
|
| All Other Fees3 | ||||||
|
|
|
| 2023 |
| 2022 |
| 2023 |
| 2022 | 2023 | 2022 | ||
To MFS Mid Cap Growth |
|
| 0 |
| 0 |
| 0 |
| 400 | 0 | 0 | |||
Fund |
|
|
|
|
|
|
|
|
|
|
|
|
| |
To MFS U.S. Government |
|
| 0 |
| 0 |
| 0 |
| 400 | 0 | 0 | |||
Money Market Fund |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Total fees billed by Deloitte |
|
| 0 |
| 0 |
| 0 |
| 800 | 0 | 0 | |||
To above Funds |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Fees Billed by Deloitte |
|
| Audit-Related Fees1 |
| Tax Fees2 |
|
| All Other Fees3 | ||||||
|
|
|
| 2023 |
| 2022 |
| 2023 |
| 2022 | 2023 | 2022 | ||
To MFS and MFS Related |
|
| 0 |
| 0 |
| 0 |
| 0 | 0 | 7,580 | |||
Entities of MFS Mid Cap |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Growth Fund* |
|
|
|
|
|
|
|
|
|
|
|
|
| |
To MFS and MFS Related |
|
| 0 |
| 0 |
| 0 |
| 0 | 0 | 7,580 | |||
Entities of MFS U.S. |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Government Money Market |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Fund* |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |||||
Fees Billed by Deloitte |
|
|
|
|
| Aggregate Fees for Non-audit Services |
| |||||||
|
|
|
|
|
|
|
| 2023 |
|
|
| 2022 |
| |
To MFS Mid Cap Growth Fund, MFS and MFS |
|
|
| 0 |
|
|
| 7,980 |
| |||||
Related Entities# |
|
|
|
|
|
|
|
|
|
|
| |||
To MFS U.S. Government Money Market |
|
|
| 0 |
|
|
| 7,980 |
| |||||
Fund, MFS and MFS Related Entities# |
|
|
|
|
|
|
|
|
|
|
| |||
|
|
|
|
|
|
|
|
| ||||||
Fees Billed by E&Y |
| Audit-Related Fees1 |
| Tax Fees2 |
|
| All Other Fees4 | |||||||
|
|
|
| 2023 |
|
| 2022 |
| 2023 |
| 2022 | 2023 | 2022 | |
|
|
|
|
|
|
|
|
|
|
|
| |||
To MFS Blended Research |
| 0 |
|
| 0 |
| 636 |
| 644 | 0 | 9 | |||
Emerging Markets Equity Fund |
|
|
|
|
|
|
|
|
|
|
|
| ||
To MFS Blended Research |
| 0 |
|
| 0 |
| 636 |
| 644 | 0 | 68 | |||
International Equity Fund |
|
|
|
|
|
|
|
|
|
|
|
| ||
To MFS Global New Discovery |
| 0 |
|
| 0 |
| 636 |
| 644 | 0 | 18 | |||
Fund |
|
|
|
|
|
|
|
|
|
|
|
|
Total fees billed by E&Y |
| 0 |
| 0 |
| 1,908 | 1,932 | 0 | 95 | |
To above Funds |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Fees Billed by E&Y |
| Audit-Related Fees1 |
| Tax Fees2 | All Other Fees4 | |||||
|
| 2023 | 2022 |
| 2023 | 2022 | 2023 | 2022 | ||
|
|
|
|
|
|
|
|
|
|
|
To MFS and MFS Related |
| 0 |
| 662,511 |
| 0 | 0 | 3,600 | 111,415 | |
Entities of MFS Blended Research |
|
|
|
|
|
|
|
|
|
|
Emerging Markets Equity Fund* |
|
|
|
|
|
|
|
|
|
|
To MFS and MFS Related |
| 0 |
| 662,511 |
| 0 | 0 | 3,600 | 111,415 | |
Entities of MFS Blended Research |
|
|
|
|
|
|
|
|
|
|
International Equity Fund* |
|
|
|
|
|
|
|
|
|
|
To MFS and MFS Related |
| 0 |
| 662,511 |
| 0 | 0 | 3,600 | 111,415 | |
Entities of MFS Global New |
|
|
|
|
|
|
|
|
|
|
Discovery Fund* |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Fees Billed by E&Y |
|
| Aggregate Fees for Non-audit Services |
| ||||||
|
|
|
| 2023 |
|
|
| 2022 |
| |
|
|
|
|
|
|
|
|
| ||
To MFS Blended Research Emerging |
|
| 228,986 |
|
|
| 955,009 |
| ||
Markets Equity Fund, MFS and MFS |
|
|
|
|
|
|
|
|
| |
Related Entities# |
|
|
|
|
|
|
|
|
| |
To MFS Blended Research International |
|
| 228,986 |
|
|
| 955,068 |
| ||
Equity Fund, MFS and MFS Related |
|
|
|
|
|
|
|
|
| |
Entities# |
|
|
|
|
|
|
|
|
| |
To MFS Global New Discovery Fund, |
|
| 228,986 |
|
|
| 955,018 |
| ||
MFS and MFS Related Entities# |
|
|
|
|
|
|
|
|
|
*This amount reflects the fees billed to MFS and MFS Related Entities for non-audit services relating directly to the operations and financial reporting of the Funds (portions of which services also related to the operations and financial reporting of other funds within the MFS Funds complex).
# This amount reflects the aggregate fees billed by Deloitte or E&Y for non-audit services rendered to the Funds and for non-audit services rendered to MFS and the MFS Related Entities.
1 The fees included under "Audit-Related Fees" are fees related to assurance and related services that are reasonably related to the performance of the audit or review of financial statements, but not reported under ''Audit Fees,'' including accounting consultations, agreed- upon procedure reports, attestation reports, comfort letters and internal control reviews.
2 The fees included under "Tax Fees" are fees associated with tax compliance, tax advice and tax planning, including services relating to the filing or amendment of federal, state or local income tax returns, regulated investment company qualification reviews and tax distribution and analysis.
3 The fees included under "All Other Fees" are fees for products and services provided by Deloitte other than those reported under "Audit Fees," "Audit-Related Fees" and "Tax Fees".
4 The fees included under "All Other Fees" are fees for products and services provided by E&Y other than those reported under "Audit Fees," "Audit-Related Fees" and "Tax Fees," including fees for services related to review of internal controls and review of Rule 38a-1 compliance program.
Item 4(e)(1):
Set forth below are the policies and procedures established by the Audit Committee of the Board of Trustees relating to the pre-approval of audit and non-audit related services:
To the extent required by applicable law, pre-approval by the Audit Committee of the Board is needed for all audit and permissible non-audit services rendered to the Fund and all permissible non-audit services rendered to MFS or MFS Related Entities if the services relate directly to the operations and financial reporting of the Registrant. Pre-approval is currently on an engagement-by-engagement basis. In the event pre- approval of such services is necessary between regular meetings of the Audit Committee and it is not practical to wait to seek pre-approval at the next regular meeting of the Audit Committee, pre-approval of such services may be referred to the Chair of the Audit Committee for approval; provided that the Chair may not pre-approve any individual engagement for such services exceeding $50,000 or multiple engagements for such services in the aggregate exceeding $100,000 in each period between regular meetings of the Audit Committee. Any engagement pre-approved by the Chair between regular meetings of the Audit Committee shall be presented for ratification by the entire Audit Committee at its next regularly scheduled meeting.
Item 4(e)(2):
None, or 0%, of the services relating to the Audit-Related Fees, Tax Fees and All Other Fees paid by the Fund and MFS and MFS Related Entities relating directly to the operations and financial reporting of the Registrant disclosed above were approved by the audit committee pursuant to paragraphs (c)(7)(i)(C) of Rule 2-01 of Regulation S-X (which permits audit committee approval after the start of the engagement with respect to services other than audit, review or attest services, if certain conditions are satisfied).
Item 4(f):
Not applicable.
Item 4(h):
The Registrant's Audit Committee has considered whether the provision by a Registrant's independent registered public accounting firm of non-audit services to MFS and MFS Related Entities that were not pre-approved by the Committee (because such services did not relate directly to the operations and financial reporting of the Registrant) was compatible with maintaining the independence of the independent registered public accounting firm as the Registrant's principal auditors.
Item 4(i):
Not applicable.
Item 4(j):
Not applicable.
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: Attached hereto as EX-99.COE.
(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: October 16, 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: October 16, 2023
By (Signature and Title)*
/S/ JAMES O. YOST
James O. Yost, Treasurer (Principal Financial Officer and Accounting Officer) Date: October 16, 2023
* Print name and title of each signing officer under his or her signature.