BOSTON--(BUSINESS WIRE)--MFS Investment Management® (MFS®) is making a portfolio management team announcement for MFS® Government Markets Income Trust (NYSE: MGF), a closed end fund.
Effective May 31, 2021, Neeraj Arora and Alexander Mackey will join the portfolio management team responsible for MFS Government Markets Income Trust. Current portfolio management team members Ward Brown and Matt Ryan will relinquish their responsibilities on the fund effective, June 30, 2021. Additionally, as announced in 2020, Bob Persons is retiring from MFS and will be relinquishing his portfolio management responsibilities, effective June 30, 2021.
Effective June 30, 2021, Geoff Schechter, a member of the portfolio management team since 2006, will continue to serve as the lead portfolio manager and be responsible for investments in US government securities. The other portfolio management team members will be Neeraj Arora, who will be responsible for investments in emerging markets debt securities and Alex Mackey, who will be responsible for investments in investment grade debt instruments.
The fund's investment objective and investment strategy will not change as a result of this announcement.
About MFS Investment Management
In 1924, MFS launched the first US open-end mutual fund, opening the door to the markets for millions of everyday investors. Today, as a full-service global investment manager serving financial advisors, intermediaries and institutional clients, MFS still serves a single purpose: to create long-term value for clients by allocating capital responsibly. That takes our powerful investment approach combining collective expertise, thoughtful risk management and long-term discipline. Supported by our culture of shared values and collaboration, our teams of diverse thinkers actively debate ideas and assess material risks to uncover what we believe are the best investment opportunities in the market. As of February 28, 2021, MFS manages US$609.9 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 Fund’s performance, a general downturn in the economy, competition from other closed-end investment companies, changes in government policy or regulation, inability of a Fund’s 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.
The Fund is a closed-end investment company product advised by MFS Investment Management. Closed-end funds, unlike open-end funds, are not continuously offered. There is a one-time public offering and once issued, common shares of the funds are bought and sold in the open market through a stock exchange. Shares 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.