BOSTON--(BUSINESS WIRE)--MFS Investment Management® (MFS®) is making a portfolio management team announcement for MFS® High Income Municipal Trust (NYSE: CXE), MFS® High Yield Municipal Trust (NYSE: CMU), MFS® Investment Grade Municipal Trust (NYSE: CXH), and MFS® Municipal Income Trust (NYSE: MFM), each a closed end fund.
Effective March 1, 2022, Mike Dawson will join the portfolio management team responsible for MFS® High Income Municipal Trust, MFS® High Yield Municipal Trust, and MFS® Municipal Income Trust. Current portfolio management team member Gary Lasman will retire from MFS and his portfolio management responsibilities on the funds effective April 30, 2023.
Effective March 1, 2022, Jason Kosty will join the portfolio management of the MFS Investment Grade Municipal Trust.
The investment objective and investment strategy of each fund will not change as a result of these announcements.
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 December 31, 2021, MFS manages US$692.8 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 Funds are closed-end investment company products 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.