MFS Announces Closed End Fund Portfolio Management Appointment
Business Wire 15-Feb-2018 9:10 AM
BOSTON--(BUSINESS WIRE)-- MFS Investment Management (MFS) is announcing portfolio management appointments to MFS Multimarket Income Trust (NYSE: MMT), MFS Charter Income Trust (NYSE: MCR), MFS Intermediate High Income Fund (NYSE: CIF), and MFS Special Value Trust (NYSE: MFV), four closed end funds.
Effective March 1, 2018, Michael Skatrud will join the portfolio management team of MFS Multimarket Income Trust, MFS Charter Income Trust, MFS Intermediate Income Trust, and MFS Special Value Trust MFS. He will be focused on managing below investment grade securities in each fund, working with current portfolio manager David Cole. William Adams, a current portfolio manager on each fund, will relinquish his portfolio management responsibilities on the funds, effective on September 1, 2018. Adams will remain with MFS and continue in his role as the firm's chief investment officer for Global Fixed Income.
Skatrud joined MFS in 2013 as a research analyst, covering high yield securities. His prior experience includes four years as a senior high yield analyst at Columbia Management as well as two years as a senior credit analyst with Oppenheimer Funds, Inc. He also worked as a corporate bond analyst at Putnam Investments previously. He earned a bachelor of science degree with distinction from the University of Wisconsin and holds a Master of Business Administration from The Wharton School at The University of Pennsylvania.
There are no other changes to the portfolio management teams of the funds. The funds' investment objectives and investment strategies will not change as a result of this appointment.
About MFS Investment Management Established in 1924, MFS is an active, global investment manager with investment offices in Boston, Hong Kong, London, Mexico City, So Paulo, Singapore, Sydney, Tokyo and Toronto. We employ a uniquely collaborative approach to build better insights for our clients. Our investment approach has three core elements: integrated research, global collaboration and active risk management. As of January 31, 2018, MFS manages US$510.5 billion in assets on behalf of individual and institutional investors worldwide.
Statements made in this release that look forward in time involve risks and uncertainties and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in a Funds performance, a general downturn in the economy, competition from other closed-end investment companies, changes in government policy or regulation, inability of a Funds investment adviser to attract or retain key employees, inability of a Fund to implement its investment strategy, inability of a Fund to manage rapid expansion and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations.
Each fund is a closed end investment product advised by MFS Investment Management. Common shares of the funds are only available for purchase/sale on the NYSE at the current market price. Shares may trade at a discount to NAV. Shares of the funds are not FDIC-insured and are not deposits or other obligations of, or guaranteed by, any bank. Shares of the funds involve investment risk, including possible loss of principal.
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MFS Shareholders or Advisors (investment product information): Jeffrey Schwarz, 800-343-2829, ext. 55872orMedia Only:James Aber, 617-954-6154, or Dan Flaherty, 617-954-4256
Source: MFS Investment Management