MFS Investment Management

Citizens Financial Group Announces Appointment of Tracy A. Atkinson to Board of Directors; Edward J. Kelly III to Serve as Lead Independent Director with Retirement of Shivan Subramaniam

Retrieved on: 
Friday, February 16, 2024
Banking, Asset Management, Professional Services, Finance, CFO, Head, Disability, Certified Public Accountant, MFS Investment Management, Compensation, Risk management, Affiliated Managers Group, Citizens Financial Group, Subramaniam, State Street Corporation, Treasurer, Woman, PwC, Raytheon Technologies, Most, CFG, Arc, Partner, U.S. Steel, Management

Added Van Saun: “I very much look forward to Ned’s continued contributions to Citizens in his expanded role, and I would like to express my deep appreciation to Shivan for his strong counsel and invaluable service since joining our board in 2005 -- a highly successful and transformative period for Citizens.”

Key Points: 
  • Citizens Financial Group, Inc. (NYSE: CFG) today announced the appointment of Tracy A. Atkinson to the company’s Board of Directors, effective March 1, 2024.
  • Atkinson’s appointment will temporarily expand the Citizens Board to 14 directors.
  • “We are pleased to welcome Tracy to our board of directors,” said Chairman and Chief Executive Officer Bruce Van Saun.
  • Subramaniam, who has served on the Board since 2005, has reached the mandatory retirement age under the company’s Corporate Governance Guidelines.

MFS Investment Management Announces Planned Liquidation of MFS Special Value Trust

Retrieved on: 
Tuesday, February 13, 2024
Banking, Asset Management, Professional Services, Finance, MFS Investment Management, MFS, Trustee, Security (finance)

MFS Investment Management® (“MFS®”) announced that, at a meeting held today, the Board of Trustees of MFS® Special Value Trust (the “fund”) (NYSE: MFV), a closed-end management investment company, approved a plan of liquidation and termination for the fund (the "liquidation").

Key Points: 
  • MFS Investment Management® (“MFS®”) announced that, at a meeting held today, the Board of Trustees of MFS® Special Value Trust (the “fund”) (NYSE: MFV), a closed-end management investment company, approved a plan of liquidation and termination for the fund (the "liquidation").
  • The liquidation is currently expected to be completed on or about April 29, 2024.
  • MFS and the Board also considered alternatives, including merging the fund into another investment company and modifying the strategy of the fund.
  • On balance MFS and the Board determined that a liquidation would be in the best interests of the fund and its shareholders.

Inflation Is Already Reshaping Retirement Strategies and Expectations, 2023 MFS Global Retirement Survey Finds

Retrieved on: 
Tuesday, October 17, 2023
Human Resources, Finance, Consulting, Millennials, Banking, Professional Services, Generation X, Consumer, Other Professional Services, MFS Investment Management, Retirement, MFS, United Kingdom, Employment, Savage, Education, Emergency, Overalls, Financial adviser, Nursing, Life insurance, TDF

Inflation fears have not only heightened retirement anxieties, they have also begun to change how workers are saving and investing to meet their goals, according to the 2023 Global Retirement Survey released today by MFS Investment Management® (MFS®).

Key Points: 
  • Inflation fears have not only heightened retirement anxieties, they have also begun to change how workers are saving and investing to meet their goals, according to the 2023 Global Retirement Survey released today by MFS Investment Management® (MFS®).
  • 60% say the recent increase in inflation has caused them to think differently about retirement.
  • The survey also finds that respondents across all generations have competing priorities and feel those financial obligations can get in the way of saving adequately for retirement.
  • "Our survey highlights that more education is needed to ensure that retirement investors understand the important role that TDFs can play in retirement strategies,” said Savage.

MFS High Income Municipal Trust, MFS High Yield Municipal Trust, and MFS Investment Grade Municipal Trust Announce Optional Partial Redemption of Preferred Shares

Retrieved on: 
Thursday, October 5, 2023
Professional Services, Finance, CXH, MFS Investment Management, CMU, NYSE, Barclay Street station, Tender, President's Pay Agent, BNY Mellon, Bank, Security (finance)

MFS® High Income Municipal Trust (NYSE: CXE), MFS® High Yield Municipal Trust (NYSE: CMU), and MFS® Investment Grade Municipal Trust (NYSE: CXH) announced today that each fund will complete an optional partial redemption of its Remarketable Variable Rate MuniFund Term Preferred Shares, Series 2051 ("Series 2051 RVMTP Shares") on November 3, 2023 (the “Redemption Date”).

Key Points: 
  • MFS® High Income Municipal Trust (NYSE: CXE), MFS® High Yield Municipal Trust (NYSE: CMU), and MFS® Investment Grade Municipal Trust (NYSE: CXH) announced today that each fund will complete an optional partial redemption of its Remarketable Variable Rate MuniFund Term Preferred Shares, Series 2051 ("Series 2051 RVMTP Shares") on November 3, 2023 (the “Redemption Date”).
  • The redemption of a portion of each fund’s Series 2051 RVMTP Shares will reduce the amount of each fund's leverage attributable to preferred shares.
  • All regulatory requirements relating to the redemption of each fund’s Series 2051 RVMTP Shares have been satisfied by MFS Investment Management.
  • Payment of the redemption price for each fund's Series 2051 RVMTP Shares will be sent to the holder by the Tender and Paying Agent on the Redemption Date.

Special Opportunities Fund, High Income Securities Fund, and Bulldog Investors Reach Settlement Agreement with Two MFS Municipal Bond Funds

Retrieved on: 
Monday, August 28, 2023
SPE, LLP, PCF, Calendar, MFS, MFS Investment Management, CMU, NYSE, Security (finance), Bulldog

SADDLE BROOK, N.J., Aug. 28, 2023 (GLOBE NEWSWIRE) -- Special Opportunities Fund (NYSE: SPE), High Income Securities Fund (NYSE: PCF), and Bulldog Investors, LLP (“Bulldog”) (together, the “Shareholders”) are pleased to announce that they have reached a settlement agreement with two closed-end municipal bond funds managed by MFS Investment Management® (MFS®).

Key Points: 
  • SADDLE BROOK, N.J., Aug. 28, 2023 (GLOBE NEWSWIRE) -- Special Opportunities Fund (NYSE: SPE), High Income Securities Fund (NYSE: PCF), and Bulldog Investors, LLP (“Bulldog”) (together, the “Shareholders”) are pleased to announce that they have reached a settlement agreement with two closed-end municipal bond funds managed by MFS Investment Management® (MFS®).
  • The MFS-managed funds are MFS High Yield Municipal Trust (NYSE: CMU), and MFS Investment Grade Municipal Trust (NYSE: CXH).
  • As part of the settlement agreement, the Shareholders have agreed to certain standstill conditions.
  • Andrew Dakos, a managing partner of Bulldog, commented: “We are pleased to have reached this agreement with the Board, which is the result of ongoing constructive engagement with MFS.”

MFS Investment Grade Municipal Trust Announces Tender Offer

Retrieved on: 
Friday, August 25, 2023
Banking, Professional Services, Finance, Tender offer, Financial Accounting Standards Board, Share (finance), Calendar, MFS, Sale, Prospectus, Tender, MFS Investment Management, Mini-tender offer, Letter, NYSE, Cryptocurrency, Security (finance), Trustee, Fund

MFS Investment Management® (MFS®) announced today that the Board of Trustees (the "Board") of MFS Investment Grade Municipal Trust (the "Fund") (NYSE: CXH), a closed-end management investment company, authorized the Fund to conduct a cash tender offer (the "Tender Offer") for up to 10% of the Fund’s outstanding common shares (the “Shares”) at a price per Share equal to 98% of the Fund’s net asset value (“NAV”) per Share as of the close of regular trading on the New York Stock Exchange (“NYSE”) on the date the Tender Offer expires.

Key Points: 
  • MFS Investment Management® (MFS®) announced today that the Board of Trustees (the "Board") of MFS Investment Grade Municipal Trust (the "Fund") (NYSE: CXH), a closed-end management investment company, authorized the Fund to conduct a cash tender offer (the "Tender Offer") for up to 10% of the Fund’s outstanding common shares (the “Shares”) at a price per Share equal to 98% of the Fund’s net asset value (“NAV”) per Share as of the close of regular trading on the New York Stock Exchange (“NYSE”) on the date the Tender Offer expires.
  • The Fund expects to commence the Tender Offer on or before October 6, 2023.
  • Shareholders should read the applicable offer to purchase and tender offer statement on Schedule TO and related exhibits if and when those documents are filed and become available, as they will contain important information about the particular Tender Offer.
  • The Fund will also make available, without charge, the offer to purchase and the letter of transmittal for the Tender Offer that is conducted.

MFS High Yield Municipal Trust Announces Tender Offer

Retrieved on: 
Friday, August 25, 2023
Banking, Asset Management, Professional Services, Finance, Tender offer, Financial Accounting Standards Board, Share (finance), Calendar, MFS, Sale, Prospectus, Tender, Mutual fund, MFS Investment Management, CMU, Mini-tender offer, Letter, NYSE, Cryptocurrency, Security (finance), Trustee, Fund

MFS Investment Management® (MFS®) announced today that the Board of Trustees (the "Board") of MFS High Yield Municipal Trust (the "Fund") (NYSE: CMU), a closed-end management investment company, authorized the Fund to conduct a cash tender offer (the "Tender Offer") for up to 10% of the Fund’s outstanding common shares (the “Shares”) at a price per Share equal to 98% of the Fund’s net asset value (“NAV”) per Share as of the close of regular trading on the New York Stock Exchange (“NYSE”) on the date the Tender Offer expires.

Key Points: 
  • MFS Investment Management® (MFS®) announced today that the Board of Trustees (the "Board") of MFS High Yield Municipal Trust (the "Fund") (NYSE: CMU), a closed-end management investment company, authorized the Fund to conduct a cash tender offer (the "Tender Offer") for up to 10% of the Fund’s outstanding common shares (the “Shares”) at a price per Share equal to 98% of the Fund’s net asset value (“NAV”) per Share as of the close of regular trading on the New York Stock Exchange (“NYSE”) on the date the Tender Offer expires.
  • The Fund expects to commence the Tender Offer on or before October 6, 2023.
  • Shareholders should read the applicable offer to purchase and tender offer statement on Schedule TO and related exhibits if and when those documents are filed and become available, as they will contain important information about the particular Tender Offer.
  • The Fund will also make available, without charge, the offer to purchase and the letter of transmittal for the Tender Offer that is conducted.

Financial Advisors Mark Alibrandi and Stephen Alibrandi Join UBS Private Wealth in Boston

Retrieved on: 
Monday, June 26, 2023
Banking, Professional Services, Finance, MFS Investment Management, Financial adviser, Senior, Investment, Cell division control protein 4, First Republic, Business, Babson College, Yale school, Polaroid Corporation, Yale School of Management, Economics, Business administration, Wealth, First Republic Bank, UBS, Merrill (company), Raytheon Company, Franklin, Management, Boston College, Northeastern University

UBS Private Wealth Management today announced that Mark Alibrandi has joined the firm as a Managing Director and Financial Advisor in Boston.

Key Points: 
  • UBS Private Wealth Management today announced that Mark Alibrandi has joined the firm as a Managing Director and Financial Advisor in Boston.
  • Mark joins with his team, Alibrandi Wealth Management, which also includes Financial Advisor Stephen Alibrandi.
  • Mark and Stephen join the UBS Greater Boston Market managed by Jim Ducey, and will be located in the Boston Private Wealth Management office, reporting to Market Director Max Bardeen.
  • Stephen Alibrandi joins UBS as a Financial Advisor and has been a member of the Alibrandi Wealth Management team since 2019.

SMArtX's TAMP Introduces 24 New Strategies to its Model Marketplace

Retrieved on: 
Thursday, June 8, 2023
PALM, MFS Investment Management, TAMP, UMA, Financial adviser

WEST PALM BEACH, Fla., June 8, 2023 /PRNewswire/ -- SMArtX Advisory Solutions ("SMArtX"), a leading innovator in unified managed accounts (UMA) technology and architect of the SMArtX turnkey asset management platform ('TAMP'), today announced it has added 24 strategies to its managed accounts platform, with Baillie Gifford, Carrick Lane, MFS Investment Management, and Tom Johnson Investment Management joining the SMArtX model marketplace. The platform now features 1,219 strategies from 292 asset management firms.

Key Points: 
  • The platform now features 1,219 strategies from 292 asset management firms.
  • The new firms are adding several distinctive, limited distribution strategies, including Baillie Gifford's International Alpha ADR and Carrick Lane's Put Writing strategies.
  • The SMArtX platform also welcomes 10 strategies from existing asset management firms Broxton Capital Advisors, Madison Investment Advisors, and WisdomTree Asset Management.
  • "It is a pleasure to welcome these new firms to our platform and continue to deliver institutional-quality asset management to our clients."

MFS Closed End Fund Portfolio Management Team Announcement

Retrieved on: 
Thursday, April 27, 2023
Banking, Asset Management, Professional Services, Finance, MFS Investment Management, MGF, Trust, MIN, NYSE, Pension fund

MFS Investment Management® (MFS®) is making a portfolio management team announcement for MFS® Government Markets Income Trust (NYSE: MGF) and MFS® Intermediate Income Trust (NYSE: MIN), each a closed end fund.

Key Points: 
  • MFS Investment Management® (MFS®) is making a portfolio management team announcement for MFS® Government Markets Income Trust (NYSE: MGF) and MFS® Intermediate Income Trust (NYSE: MIN), each a closed end fund.
  • Effective May 31, 2023, Jake Stone will join the portfolio management teams responsible for MFS® Government Markets Income Trust and MFS® Intermediate Income Trust.
  • The investment objective and investment strategy of each fund will not change as a result of these announcements.