Aberdeen Becomes Adviser as MFS Trust Merges CIF, MCR at 0.3611 and 1.3335 Ratios
MMT•MFS Multimarket Income Trust merged two funds on June 22, issuing 0.36109198 MMT shares per CIF share and 1.33352869 per MCR share based on June 18 NAVs. Simultaneously Aberdeen became investment adviser, renamed the trust Aberdeen Multi-Market Income Fund and will shift portfolio to investment-grade credit quality within six months.
1. Reorganization Details
On June 22, MFS Multimarket Income Trust completed the merger of MFS Intermediate High Income Fund (CIF) and MFS Charter Income Trust (MCR). CIF shareholders received 0.36109198 MMT shares for each CIF share and MCR shareholders received 1.33352869 MMT shares, both calculated using June 18 NAVs.
2. Adviser and Name Change
Aberdeen replaced MFS Investment Management as investment adviser effective with the reorganization. The trust’s name changed to Aberdeen Multi-Market Income Fund, with no change to its NYSE ticker (MMT) or CUSIP.
3. Trustee Changes
The previous board of trustees resigned and four new trustees—Todd Reit, Nancy Yao, C. William Maher and Gordon Baird—assumed their roles following election on May 18, contingent on Aberdeen’s appointment.
4. Portfolio Transition Strategy
The fund’s primary objective remains high current income with potential capital appreciation. Aberdeen’s team will transition the portfolio to average investment-grade credit quality over six months, aiming to minimize market disruption while preserving the fund’s risk profile.
