10/28/2024 | Press release | Distributed by Public on 10/28/2024 06:43
(based on a hypothetical $10,000 investment) | ||
Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
A | $128 | 1.19% |
Share Class | 1-yr | 5-yr | 10-yr |
A without sales charge | 14.78% | 3.26% | 5.24% |
A with initial sales charge (5.75%) | 8.18% | 2.05% | 4.62% |
Comparative Benchmark(s) | |||
MSCI All Country World Index (net div) +∆ | 23.44% | 12.14% | 8.78% |
FTSE EPRA Nareit Developed Real Estate Index (net div) +∆ | 17.45% | 1.26% | 3.09% |
+
|
Effective May 1, 2024, the MSCI All Country World Index (net div) replaced the FTSE EPRA Nareit Developed Real Estate Index (net div) as a broad measure of market performance in accordance with new regulatory disclosure requirements. The fund continues to use the FTSE EPRA Nareit Developed Real Estate Index (net div) as an additional benchmark that MFS believes more closely reflects the market segments in which the fund invests.
|
∆
|
Source: FactSet Research Systems Inc.
|
Net Assets ($): | 2,503,453,782 | Total Management Fee ($)#: | 18,936,661 | |
Total Number of Holdings: | 51 | Portfolio Turnover Rate (%): | 48 |
Equities | 98.9% |
Money Market Funds | 1.1% |
Real Estate | 94.2% |
Communication Services | 3.1% |
Health Care | 1.6% |
Prologis, Inc., REIT | 9.3% |
Equinix, Inc., REIT | 6.1% |
Extra Space Storage, Inc., REIT | 4.6% |
Goodman Group, REIT | 4.1% |
Mid-America Apartment Communities, Inc., REIT | 4.1% |
Mitsui Fudosan Co. Ltd. | 3.6% |
Equity Lifestyle Properties, Inc., REIT | 3.5% |
Digital Realty Trust, Inc., REIT | 3.2% |
Ventas, Inc., REIT | 3.1% |
Sun Communities, Inc., REIT | 2.8% |
United States | 68.9% |
United Kingdom | 8.1% |
Japan | 5.7% |
Australia | 5.7% |
Singapore | 2.7% |
Germany | 2.2% |
Canada | 1.8% |
Belgium | 1.7% |
Spain | 1.6% |
Other Countries | 1.6% |
(based on a hypothetical $10,000 investment) | ||
Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
B | $208 | 1.94% |
Share Class | 1-yr | 5-yr | Life* |
B without sales charge | 13.92% | 2.49% | 4.60% |
B with CDSC (declining over six years from 4% to 0%)× | 9.92% | 2.13% | 4.60% |
Comparative Benchmark(s) | |||
MSCI All Country World Index (net div) +∆ | 23.44% | 12.14% | 9.43% |
FTSE EPRA Nareit Developed Real Estate Index (net div) +∆ | 17.45% | 1.26% | 3.17% |
*
|
For the period from the commencement of the class's investment operations, December 19, 2014 through August 31, 2024.
|
+
|
Effective May 1, 2024, the MSCI All Country World Index (net div) replaced the FTSE EPRA Nareit Developed Real Estate Index (net div) as a broad measure of market performance in accordance with new regulatory disclosure requirements. The fund continues to use the FTSE EPRA Nareit Developed Real Estate Index (net div) as an additional benchmark that MFS believes more closely reflects the market segments in which the fund invests.
|
∆
|
Source: FactSet Research Systems Inc.
|
×
|
Assuming redemption at the end of the applicable period.
|
Net Assets ($): | 2,503,453,782 | Total Management Fee ($)#: | 18,936,661 | |
Total Number of Holdings: | 51 | Portfolio Turnover Rate (%): | 48 |
Equities | 98.9% |
Money Market Funds | 1.1% |
Real Estate | 94.2% |
Communication Services | 3.1% |
Health Care | 1.6% |
Prologis, Inc., REIT | 9.3% |
Equinix, Inc., REIT | 6.1% |
Extra Space Storage, Inc., REIT | 4.6% |
Goodman Group, REIT | 4.1% |
Mid-America Apartment Communities, Inc., REIT | 4.1% |
Mitsui Fudosan Co. Ltd. | 3.6% |
Equity Lifestyle Properties, Inc., REIT | 3.5% |
Digital Realty Trust, Inc., REIT | 3.2% |
Ventas, Inc., REIT | 3.1% |
Sun Communities, Inc., REIT | 2.8% |
United States | 68.9% |
United Kingdom | 8.1% |
Japan | 5.7% |
Australia | 5.7% |
Singapore | 2.7% |
Germany | 2.2% |
Canada | 1.8% |
Belgium | 1.7% |
Spain | 1.6% |
Other Countries | 1.6% |
(based on a hypothetical $10,000 investment) | ||
Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
C | $207 | 1.94% |
Share Class | 1-yr | 5-yr | Life* |
C without sales charge | 13.91% | 2.49% | 4.60% |
C with CDSC (1% for 12 months)× | 12.91% | 2.49% | 4.60% |
Comparative Benchmark(s) | |||
MSCI All Country World Index (net div) +∆ | 23.44% | 12.14% | 9.43% |
FTSE EPRA Nareit Developed Real Estate Index (net div) +∆ | 17.45% | 1.26% | 3.17% |
*
|
For the period from the commencement of the class's investment operations, December 19, 2014 through August 31, 2024.
|
+
|
Effective May 1, 2024, the MSCI All Country World Index (net div) replaced the FTSE EPRA Nareit Developed Real Estate Index (net div) as a broad measure of market performance in accordance with new regulatory disclosure requirements. The fund continues to use the FTSE EPRA Nareit Developed Real Estate Index (net div) as an additional benchmark that MFS believes more closely reflects the market segments in which the fund invests.
|
∆
|
Source: FactSet Research Systems Inc.
|
×
|
Assuming redemption at the end of the applicable period.
|
Net Assets ($): | 2,503,453,782 | Total Management Fee ($)#: | 18,936,661 | |
Total Number of Holdings: | 51 | Portfolio Turnover Rate (%): | 48 |
Equities | 98.9% |
Money Market Funds | 1.1% |
Real Estate | 94.2% |
Communication Services | 3.1% |
Health Care | 1.6% |
Prologis, Inc., REIT | 9.3% |
Equinix, Inc., REIT | 6.1% |
Extra Space Storage, Inc., REIT | 4.6% |
Goodman Group, REIT | 4.1% |
Mid-America Apartment Communities, Inc., REIT | 4.1% |
Mitsui Fudosan Co. Ltd. | 3.6% |
Equity Lifestyle Properties, Inc., REIT | 3.5% |
Digital Realty Trust, Inc., REIT | 3.2% |
Ventas, Inc., REIT | 3.1% |
Sun Communities, Inc., REIT | 2.8% |
United States | 68.9% |
United Kingdom | 8.1% |
Japan | 5.7% |
Australia | 5.7% |
Singapore | 2.7% |
Germany | 2.2% |
Canada | 1.8% |
Belgium | 1.7% |
Spain | 1.6% |
Other Countries | 1.6% |
(based on a hypothetical $10,000 investment) | ||
Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
I | $101 | 0.94% |
Share Class | 1-yr | 5-yr | 10-yr |
I without sales charge | 15.09% | 3.52% | 5.49% |
Comparative Benchmark(s) | |||
MSCI All Country World Index (net div) +∆ | 23.44% | 12.14% | 8.78% |
FTSE EPRA Nareit Developed Real Estate Index (net div) +∆ | 17.45% | 1.26% | 3.09% |
+
|
Effective May 1, 2024, the MSCI All Country World Index (net div) replaced the FTSE EPRA Nareit Developed Real Estate Index (net div) as a broad measure of market performance in accordance with new regulatory disclosure requirements. The fund continues to use the FTSE EPRA Nareit Developed Real Estate Index (net div) as an additional benchmark that MFS believes more closely reflects the market segments in which the fund invests.
|
∆
|
Source: FactSet Research Systems Inc.
|
Net Assets ($): | 2,503,453,782 | Total Management Fee ($)#: | 18,936,661 | |
Total Number of Holdings: | 51 | Portfolio Turnover Rate (%): | 48 |
Equities | 98.9% |
Money Market Funds | 1.1% |
Real Estate | 94.2% |
Communication Services | 3.1% |
Health Care | 1.6% |
Prologis, Inc., REIT | 9.3% |
Equinix, Inc., REIT | 6.1% |
Extra Space Storage, Inc., REIT | 4.6% |
Goodman Group, REIT | 4.1% |
Mid-America Apartment Communities, Inc., REIT | 4.1% |
Mitsui Fudosan Co. Ltd. | 3.6% |
Equity Lifestyle Properties, Inc., REIT | 3.5% |
Digital Realty Trust, Inc., REIT | 3.2% |
Ventas, Inc., REIT | 3.1% |
Sun Communities, Inc., REIT | 2.8% |
United States | 68.9% |
United Kingdom | 8.1% |
Japan | 5.7% |
Australia | 5.7% |
Singapore | 2.7% |
Germany | 2.2% |
Canada | 1.8% |
Belgium | 1.7% |
Spain | 1.6% |
Other Countries | 1.6% |
(based on a hypothetical $10,000 investment) | ||
Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
R1 | $207 | 1.94% |
Share Class | 1-yr | 5-yr | Life* |
R1 without sales charge | 13.88% | 2.48% | 4.60% |
Comparative Benchmark(s) | |||
MSCI All Country World Index (net div) +∆ | 23.44% | 12.14% | 9.43% |
FTSE EPRA Nareit Developed Real Estate Index (net div) +∆ | 17.45% | 1.26% | 3.17% |
*
|
For the period from the commencement of the class's investment operations, December 19, 2014 through August 31, 2024.
|
+
|
Effective May 1, 2024, the MSCI All Country World Index (net div) replaced the FTSE EPRA Nareit Developed Real Estate Index (net div) as a broad measure of market performance in accordance with new regulatory disclosure requirements. The fund continues to use the FTSE EPRA Nareit Developed Real Estate Index (net div) as an additional benchmark that MFS believes more closely reflects the market segments in which the fund invests.
|
∆
|
Source: FactSet Research Systems Inc.
|
Net Assets ($): | 2,503,453,782 | Total Management Fee ($)#: | 18,936,661 | |
Total Number of Holdings: | 51 | Portfolio Turnover Rate (%): | 48 |
Equities | 98.9% |
Money Market Funds | 1.1% |
Real Estate | 94.2% |
Communication Services | 3.1% |
Health Care | 1.6% |
Prologis, Inc., REIT | 9.3% |
Equinix, Inc., REIT | 6.1% |
Extra Space Storage, Inc., REIT | 4.6% |
Goodman Group, REIT | 4.1% |
Mid-America Apartment Communities, Inc., REIT | 4.1% |
Mitsui Fudosan Co. Ltd. | 3.6% |
Equity Lifestyle Properties, Inc., REIT | 3.5% |
Digital Realty Trust, Inc., REIT | 3.2% |
Ventas, Inc., REIT | 3.1% |
Sun Communities, Inc., REIT | 2.8% |
United States | 68.9% |
United Kingdom | 8.1% |
Japan | 5.7% |
Australia | 5.7% |
Singapore | 2.7% |
Germany | 2.2% |
Canada | 1.8% |
Belgium | 1.7% |
Spain | 1.6% |
Other Countries | 1.6% |
(based on a hypothetical $10,000 investment) | ||
Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
R2 | $154 | 1.44% |
Share Class | 1-yr | 5-yr | Life* |
R2 without sales charge | 14.46% | 2.99% | 5.12% |
Comparative Benchmark(s) | |||
MSCI All Country World Index (net div) +∆ | 23.44% | 12.14% | 9.43% |
FTSE EPRA Nareit Developed Real Estate Index (net div) +∆ | 17.45% | 1.26% | 3.17% |
*
|
For the period from the commencement of the class's investment operations, December 19, 2014 through August 31, 2024.
|
+
|
Effective May 1, 2024, the MSCI All Country World Index (net div) replaced the FTSE EPRA Nareit Developed Real Estate Index (net div) as a broad measure of market performance in accordance with new regulatory disclosure requirements. The fund continues to use the FTSE EPRA Nareit Developed Real Estate Index (net div) as an additional benchmark that MFS believes more closely reflects the market segments in which the fund invests.
|
∆
|
Source: FactSet Research Systems Inc.
|
Net Assets ($): | 2,503,453,782 | Total Management Fee ($)#: | 18,936,661 | |
Total Number of Holdings: | 51 | Portfolio Turnover Rate (%): | 48 |
Equities | 98.9% |
Money Market Funds | 1.1% |
Real Estate | 94.2% |
Communication Services | 3.1% |
Health Care | 1.6% |
Prologis, Inc., REIT | 9.3% |
Equinix, Inc., REIT | 6.1% |
Extra Space Storage, Inc., REIT | 4.6% |
Goodman Group, REIT | 4.1% |
Mid-America Apartment Communities, Inc., REIT | 4.1% |
Mitsui Fudosan Co. Ltd. | 3.6% |
Equity Lifestyle Properties, Inc., REIT | 3.5% |
Digital Realty Trust, Inc., REIT | 3.2% |
Ventas, Inc., REIT | 3.1% |
Sun Communities, Inc., REIT | 2.8% |
United States | 68.9% |
United Kingdom | 8.1% |
Japan | 5.7% |
Australia | 5.7% |
Singapore | 2.7% |
Germany | 2.2% |
Canada | 1.8% |
Belgium | 1.7% |
Spain | 1.6% |
Other Countries | 1.6% |
(based on a hypothetical $10,000 investment) | ||
Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
R3 | $128 | 1.19% |
Share Class | 1-yr | 5-yr | Life* |
R3 without sales charge | 14.75% | 3.25% | 5.39% |
Comparative Benchmark(s) | |||
MSCI All Country World Index (net div) +∆ | 23.44% | 12.14% | 9.43% |
FTSE EPRA Nareit Developed Real Estate Index (net div) +∆ | 17.45% | 1.26% | 3.17% |
*
|
For the period from the commencement of the class's investment operations, December 19, 2014 through August 31, 2024.
|
+
|
Effective May 1, 2024, the MSCI All Country World Index (net div) replaced the FTSE EPRA Nareit Developed Real Estate Index (net div) as a broad measure of market performance in accordance with new regulatory disclosure requirements. The fund continues to use the FTSE EPRA Nareit Developed Real Estate Index (net div) as an additional benchmark that MFS believes more closely reflects the market segments in which the fund invests.
|
∆
|
Source: FactSet Research Systems Inc.
|
Net Assets ($): | 2,503,453,782 | Total Management Fee ($)#: | 18,936,661 | |
Total Number of Holdings: | 51 | Portfolio Turnover Rate (%): | 48 |
Equities | 98.9% |
Money Market Funds | 1.1% |
Real Estate | 94.2% |
Communication Services | 3.1% |
Health Care | 1.6% |
Prologis, Inc., REIT | 9.3% |
Equinix, Inc., REIT | 6.1% |
Extra Space Storage, Inc., REIT | 4.6% |
Goodman Group, REIT | 4.1% |
Mid-America Apartment Communities, Inc., REIT | 4.1% |
Mitsui Fudosan Co. Ltd. | 3.6% |
Equity Lifestyle Properties, Inc., REIT | 3.5% |
Digital Realty Trust, Inc., REIT | 3.2% |
Ventas, Inc., REIT | 3.1% |
Sun Communities, Inc., REIT | 2.8% |
United States | 68.9% |
United Kingdom | 8.1% |
Japan | 5.7% |
Australia | 5.7% |
Singapore | 2.7% |
Germany | 2.2% |
Canada | 1.8% |
Belgium | 1.7% |
Spain | 1.6% |
Other Countries | 1.6% |
(based on a hypothetical $10,000 investment) | ||
Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
R4 | $101 | 0.94% |
Share Class | 1-yr | 5-yr | Life* |
R4 without sales charge | 15.00% | 3.53% | 5.65% |
Comparative Benchmark(s) | |||
MSCI All Country World Index (net div) +∆ | 23.44% | 12.14% | 9.43% |
FTSE EPRA Nareit Developed Real Estate Index (net div) +∆ | 17.45% | 1.26% | 3.17% |
*
|
For the period from the commencement of the class's investment operations, December 19, 2014 through August 31, 2024.
|
+
|
Effective May 1, 2024, the MSCI All Country World Index (net div) replaced the FTSE EPRA Nareit Developed Real Estate Index (net div) as a broad measure of market performance in accordance with new regulatory disclosure requirements. The fund continues to use the FTSE EPRA Nareit Developed Real Estate Index (net div) as an additional benchmark that MFS believes more closely reflects the market segments in which the fund invests.
|
∆
|
Source: FactSet Research Systems Inc.
|
Net Assets ($): | 2,503,453,782 | Total Management Fee ($)#: | 18,936,661 | |
Total Number of Holdings: | 51 | Portfolio Turnover Rate (%): | 48 |
Equities | 98.9% |
Money Market Funds | 1.1% |
Real Estate | 94.2% |
Communication Services | 3.1% |
Health Care | 1.6% |
Prologis, Inc., REIT | 9.3% |
Equinix, Inc., REIT | 6.1% |
Extra Space Storage, Inc., REIT | 4.6% |
Goodman Group, REIT | 4.1% |
Mid-America Apartment Communities, Inc., REIT | 4.1% |
Mitsui Fudosan Co. Ltd. | 3.6% |
Equity Lifestyle Properties, Inc., REIT | 3.5% |
Digital Realty Trust, Inc., REIT | 3.2% |
Ventas, Inc., REIT | 3.1% |
Sun Communities, Inc., REIT | 2.8% |
United States | 68.9% |
United Kingdom | 8.1% |
Japan | 5.7% |
Australia | 5.7% |
Singapore | 2.7% |
Germany | 2.2% |
Canada | 1.8% |
Belgium | 1.7% |
Spain | 1.6% |
Other Countries | 1.6% |
(based on a hypothetical $10,000 investment) | ||
Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
R6 | $91 | 0.85% |
Share Class | 1-yr | 5-yr | 10-yr |
R6 without sales charge | 15.13% | 3.61% | 5.58% |
Comparative Benchmark(s) | |||
MSCI All Country World Index (net div) +∆ | 23.44% | 12.14% | 8.78% |
FTSE EPRA Nareit Developed Real Estate Index (net div) +∆ | 17.45% | 1.26% | 3.09% |
+
|
Effective May 1, 2024, the MSCI All Country World Index (net div) replaced the FTSE EPRA Nareit Developed Real Estate Index (net div) as a broad measure of market performance in accordance with new regulatory disclosure requirements. The fund continues to use the FTSE EPRA Nareit Developed Real Estate Index (net div) as an additional benchmark that MFS believes more closely reflects the market segments in which the fund invests.
|
∆
|
Source: FactSet Research Systems Inc.
|
Net Assets ($): | 2,503,453,782 | Total Management Fee ($)#: | 18,936,661 | |
Total Number of Holdings: | 51 | Portfolio Turnover Rate (%): | 48 |
Equities | 98.9% |
Money Market Funds | 1.1% |
Real Estate | 94.2% |
Communication Services | 3.1% |
Health Care | 1.6% |
Prologis, Inc., REIT | 9.3% |
Equinix, Inc., REIT | 6.1% |
Extra Space Storage, Inc., REIT | 4.6% |
Goodman Group, REIT | 4.1% |
Mid-America Apartment Communities, Inc., REIT | 4.1% |
Mitsui Fudosan Co. Ltd. | 3.6% |
Equity Lifestyle Properties, Inc., REIT | 3.5% |
Digital Realty Trust, Inc., REIT | 3.2% |
Ventas, Inc., REIT | 3.1% |
Sun Communities, Inc., REIT | 2.8% |
United States | 68.9% |
United Kingdom | 8.1% |
Japan | 5.7% |
Australia | 5.7% |
Singapore | 2.7% |
Germany | 2.2% |
Canada | 1.8% |
Belgium | 1.7% |
Spain | 1.6% |
Other Countries | 1.6% |
Item 1(b):
Not applicable.
ITEM 2. CODE OF ETHICS.
The Registrant has adopted a Code of Ethics (the "Code") pursuant to Section 406 of the Sarbanes-Oxley Act and as defined in Form N-CSR that applies to the Registrant's principal executive officer and principal financial and accounting officer. During the period covered by this report, the Registrant has not amended any provision in the Code that relates to an element of the Code's definition enumerated in paragraph (b) of Item 2 of this Form N-CSR. During the period covered by this report, the Registrant did not grant a waiver, including an implicit waiver, from any provision of the Code. David L. DiLorenzo (Principal Executive Officer) and James O. Yost (Principal Financial Officer) were the two persons covered by the Code prior to April 1, 2024. Beginning April 1, 2024, David L. DiLorenzo (Principal Executive Officer) and Kasey L. Phillips (Principal Financial Officer) are the two persons covered by the Code. A copy of the Code is attached hereto as EX-99.COE.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Messrs. Steven E. Buller and Clarence Otis, Jr., members of the Audit Committee, have been determined by the Board of Trustees in their reasonable business judgment to meet the definition of "audit committee financial expert" as such term is defined in Form N-CSR. In addition, Messrs. Buller and Otis are "independent" members of the Audit Committee (as such term has been defined by the Securities and Exchange Commission in regulations implementing Section 407 of the Sarbanes-Oxley Act of 2002). The Securities and Exchange Commission has stated that the designation of a person as an audit committee financial expert pursuant to this Item 3 on the Form N-CSR does not impose on such a person any duties, obligations or liability that are greater than the duties, obligations or liability imposed on such person as a member of the Audit Committee and the Board of Trustees in the absence of such designation or identification.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
Items 4(a) through 4(d) and 4(g):
The Board of Trustees has appointed Ernst & Young LLP ("E&Y") to serve as independent accountants to each series of the Registrant. The tables below set forth the audit fees billed to the series of the Registrant with a fiscal year end of August 31, 2023 (the "Fund") as well as fees for non-audit services provided to the Fund and/or to the Fund's investment adviser, Massachusetts Financial Services Company ("MFS"), and to various entities either controlling, controlled by, or under common control with MFS that provide ongoing services to the Fund ("MFS Related Entities").
For the fiscal years ended August 31, 2024 and 2023, audit fees billed to the Fund by E&Y were as follows:
Fees Billed by E&Y: |
Audit Fees |
||
2024 |
2023 |
||
MFS Global Real Estate Fund |
62,983 |
60,764 |
For the fiscal years ended August 31, 2024 and 2023, fees billed by E&Y for audit-related, tax and other services provided to the Fund and for audit-related, tax and other services provided to MFS and MFS Related Entities were as follows:
Fees Billed by E&Y |
Audit-Related Fees1 |
Tax Fees2 |
All Other Fees3 |
||||||
2024 |
2023 |
2024 |
2023 |
2024 |
2023 |
||||
To MFS Global |
0 |
0 |
660 |
636 |
0 |
0 |
|||
Real Estate Fund |
|||||||||
Fees Billed by E&Y |
Audit-Related Fees1 |
Tax Fees2 |
All Other Fees3 |
||||||
2024 |
2023 |
2024 |
2023 |
2024 |
2023 |
||||
To MFS and MFS |
0 |
0 |
0 |
0 |
3,600 |
3,600 |
|||
Related Entities of MFS |
|||||||||
Global Real Estate Fund* |
|||||||||
Fees Billed by E&Y |
Aggregate Fees for Non-audit Services |
||||||||
2024 |
2023 |
||||||||
To MFS Global Real Estate Fund, |
320,200 |
228,986 |
|||||||
MFS and MFS Related Entities # |
*This amount reflects the fees billed to MFS and MFS Related Entities for non-audit services relating directly to the operations and financial reporting of the Funds (portions of which services also related to the operations and financial reporting of other funds within the MFS Funds complex).
# This amount reflects the aggregate fees billed by E&Y for non-audit services rendered to the Funds and for non- audit services rendered to MFS and the MFS Related Entities.
1 The fees included under "Audit-Related Fees" are fees related to assurance and related services that are reasonably related to the performance of the audit or review of financial statements, but not reported under ''Audit Fees,'' including accounting consultations, agreed-upon procedure reports, attestation reports, comfort letters and internal control reviews.
2 The fees included under "Tax Fees" are fees associated with tax compliance, tax advice and tax planning, including services relating to the filing or amendment of federal, state or local income tax returns, regulated investment company qualification reviews and tax distribution and analysis.
3 The fees under "All Other Fees" are fees for products and services provided by E&Y other than those reported under "Audit Fees," "Audit-Related Fees" and "Tax Fees".
Item 4(e)(1):
Set forth below are the policies and procedures established by the Audit Committee of the Board of Trustees relating to the pre-approval of audit and non-audit related services:
To the extent required by applicable law, pre-approval by the Audit Committee of the Board is needed for all audit and permissible non-audit services rendered to the Fund and all permissible non-audit services rendered to MFS or MFS Related Entities if the services relate directly to the operations and financial reporting of the Registrant. Pre- approval is currently on an engagement-by-engagement basis. In the event pre-approval of such services is necessary between regular meetings of the Audit Committee and it is not practical to wait to seek pre-approval at the next regular meeting of the Audit Committee, pre-approval of such services may be referred to the Chair of the Audit Committee for approval; provided that the Chair may not pre-approve any individual engagement for such services exceeding $50,000 or multiple engagements for such services in the aggregate exceeding $100,000 in each period between regular meetings of the Audit Committee. Any engagement pre-approved by the Chair between regular meetings of the Audit Committee shall be presented for ratification by the entire Audit Committee at its next regularly scheduled meeting.
Item 4(e)(2):
None, or 0%, of the services relating to the Audit-Related Fees, Tax Fees and All Other Fees paid by the Fund and MFS and MFS Related Entities relating directly to the operations and financial reporting of the Registrant disclosed above were approved by the audit committee pursuant to paragraphs (c)(7)(i)(C) of Rule 2-01 of Regulation S-X (which permits audit committee approval after the start of the engagement with respect to services other than audit, review or attest services, if certain conditions are satisfied).
Item 4(f):
Not applicable.
Item 4(h):
The Registrant's Audit Committee has considered whether the provision by a Registrant's independent registered public accounting firm of non-audit services to MFS and MFS Related Entities that were not pre-approved by the Committee (because such services did not relate directly to the operations and financial reporting of the Registrant) was compatible with maintaining the independence of the independent registered public accounting firm as the Registrant's principal auditors.
Item 4(i):
Not applicable.
Item 4(j):
Not applicable.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
Not applicable to the Registrant.
ITEM 6. INVESTMENTS
A schedule of investments for each series covered by this Form N-CSR is included in the financial statements of such series under Item 7 of this Form N-CSR.
Issuer | Shares/Par | Value ($) | ||
Common Stocks - 98.7% | ||||
Construction - 15.3% | ||||
American Homes 4 Rent, "A", REIT | 1,479,849 | $ 58,853,595 | ||
Equity Lifestyle Properties, Inc., REIT | 1,216,899 | 88,480,726 | ||
Essex Property Trust, Inc., REIT | 209,324 | 63,171,890 | ||
Mid-America Apartment Communities, Inc., REIT | 626,789 | 101,771,730 | ||
Sun Communities, Inc., REIT | 524,509 | 70,934,597 | ||
$383,212,538 | ||||
Engineering - Construction - 0.5% | ||||
Corporacion Inmobiliaria Vesta S.A.B. de C.V. | 4,827,097 | $ 13,235,500 | ||
Forest & Paper Products - 3.0% | ||||
Rayonier, Inc., REIT | 1,152,077 | $ 35,495,492 | ||
Weyerhaeuser Co., REIT | 1,317,831 | 40,180,667 | ||
$75,676,159 | ||||
Gaming & Lodging - 1.2% | ||||
Ryman Hospitality Properties, Inc., REIT | 301,618 | $ 31,356,207 | ||
Medical & Health Technology & Services - 4.7% | ||||
Encompass Health Corp. | 260,500 | $ 24,239,525 | ||
Universal Health Services, Inc. | 66,360 | 15,791,689 | ||
Ventas, Inc., REIT | 1,238,495 | 76,922,925 | ||
$116,954,139 | ||||
Printing & Publishing - 1.4% | ||||
Lamar Advertising Co., REIT | 277,332 | $ 34,882,819 | ||
Real Estate - 35.7% | ||||
Big Yellow Group PLC, REIT | 2,449,791 | $ 40,743,857 | ||
Canadian Apartment Properties, REIT | 1,171,421 | 45,530,391 | ||
CapitaLand India Trusts IEU, REIT | 17,808,963 | 15,421,379 | ||
CapitaLand Investment Ltd. | 18,557,200 | 38,607,565 | ||
Derwent London PLC, REIT | 833,212 | 25,561,839 | ||
DigitalBridge Group, Inc., REIT | 446,131 | 5,572,176 | ||
Farmland Partners, Inc., REIT | 1,095,123 | 11,214,060 | ||
Federal Realty Investment Trust, REIT | 596,878 | 68,640,970 | ||
Goodman Group, REIT | 4,504,580 | 102,446,541 | ||
Grainger PLC | 10,711,889 | 33,692,662 | ||
Japan Metropolitan Fund Investment Corp., REIT | 44,868 | 28,458,178 | ||
Kimco Realty Corp., REIT | 2,765,919 | 64,335,276 | ||
Mitsui Fudosan Co. Ltd. | 8,396,300 | 91,024,695 | ||
National Storage, REIT | 20,449,680 | 33,618,068 | ||
NNN REIT, Inc. | 1,117,818 | 52,526,268 | ||
Parkway Real Estate LLC, REIT | 4,687,567 | 13,483,723 | ||
Rural Funds Group, REIT | 3,678,330 | 5,111,864 | ||
SEGRO PLC, REIT | 3,711,479 | 42,668,753 | ||
Shaftesbury Capital PLC, REIT | 13,531,387 | 26,290,865 | ||
Shurgard Self Storage Ltd., REIT | 937,999 | 41,452,903 |
Issuer | Shares/Par | Value ($) | ||
Common Stocks - continued | ||||
Real Estate - continued | ||||
Sino Land Co. Ltd. | 26,655,635 | $ 28,508,560 | ||
Star Asia Investment Corp., REIT | 32,603 | 12,281,432 | ||
Tokyo Tatemono Co. Ltd. | 705,000 | 11,788,098 | ||
Vonovia SE, REIT | 1,573,226 | 54,223,387 | ||
$893,203,510 | ||||
Real Estate - Office - 6.4% | ||||
Alexandria Real Estate Equities, Inc., REIT | 448,548 | $ 53,632,884 | ||
BXP, Inc., REIT | 679,565 | 51,116,879 | ||
Cousins Properties, Inc., REIT | 437,499 | 12,473,097 | ||
Douglas Emmett, Inc., REIT | 1,877,239 | 30,035,824 | ||
Highwoods Properties, Inc., REIT | 393,061 | 12,664,426 | ||
$159,923,110 | ||||
Real Estate - Storage - 16.6% | ||||
Extra Space Storage, Inc., REIT | 655,862 | $ 116,087,574 | ||
Prologis, Inc., REIT | 1,811,170 | 231,503,750 | ||
Rexford Industrial Realty, Inc., REIT | 1,313,722 | 66,894,724 | ||
$414,486,048 | ||||
Telecommunications - Wireless - 3.3% | ||||
Cellnex Telecom S.A. | 1,057,747 | $ 40,958,414 | ||
SBA Communications Corp., REIT | 180,339 | 40,875,638 | ||
$81,834,052 | ||||
Telephone Services - 10.6% | ||||
Digital Realty Trust, Inc., REIT | 530,694 | $ 80,458,517 | ||
Equinix, Inc., REIT | 183,152 | 152,814,703 | ||
Helios Towers PLC (a) | 22,411,186 | 33,376,565 | ||
$266,649,785 | ||||
Total Common Stocks (Identified Cost, $1,983,146,506) | $2,471,413,867 | |||
Investment Companies (h) - 1.2% | ||||
Money Market Funds - 1.2% | ||||
MFS Institutional Money Market Portfolio, 5.35% (v) (Identified Cost, $28,553,814) | 28,553,604 | $ 28,562,169 | ||
Other Assets, Less Liabilities - 0.1% | 3,477,746 | |||
Net Assets - 100.0% | $2,503,453,782 |
(a) | Non-income producing security. | |||
(h) | An affiliated issuer, which may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated issuers and in unaffiliated issuers were $28,562,169 and $2,471,413,867, respectively. | |||
(v) | Affiliated issuer that is available only to investment companies managed by MFS. The rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end. |
The following abbreviations are used in this report and are defined: | |
IEU | International Equity Unit |
REIT | Real Estate Investment Trust |
Financial Statements | Statement of Assets and Liabilities |
At 8/31/24 Assets | |
Investments in unaffiliated issuers, at value (identified cost, $1,983,146,506) | $2,471,413,867 |
Investments in affiliated issuers, at value (identified cost, $28,553,814) | 28,562,169 |
Foreign currency, at value (identified cost, $252,618) | 252,614 |
Receivables for | |
Fund shares sold | 1,101,634 |
Dividends | 5,329,120 |
Other assets | 1,633 |
Total assets | $2,506,661,037 |
Liabilities | |
Payables for | |
Fund shares reacquired | $2,525,739 |
Payable to affiliates | |
Investment adviser | 162,023 |
Administrative services fee | 2,982 |
Shareholder servicing costs | 183,667 |
Distribution and service fees | 2,121 |
Payable for independent Trustees' compensation | 14 |
Accrued expenses and other liabilities | 330,709 |
Total liabilities | $3,207,255 |
Net assets | $2,503,453,782 |
Net assets consist of | |
Paid-in capital | $2,257,106,147 |
Total distributable earnings (loss) | 246,347,635 |
Net assets | $2,503,453,782 |
Shares of beneficial interest outstanding | 139,541,786 |
Net assets |
Shares outstanding |
Net asset value per share (a) |
|
Class A | $59,440,235 | 3,331,714 | $17.84 |
Class B | 306,720 | 17,101 | 17.94 |
Class C | 7,890,364 | 442,631 | 17.83 |
Class I | 976,417,008 | 54,526,813 | 17.91 |
Class R1 | 646,670 | 36,629 | 17.65 |
Class R2 | 2,448,929 | 136,787 | 17.90 |
Class R3 | 4,810,586 | 268,854 | 17.89 |
Class R4 | 1,433,166 | 79,925 | 17.93 |
Class R6 | 1,450,060,104 | 80,701,332 | 17.97 |
(a) | Maximum offering price per share was equal to the net asset value per share for all share classes, except for Class A, for which the maximum offering price per share was $18.93 [100 / 94.25 x $17.84]. On sales of $50,000 or more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions of Class A, Class B, and Class C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and R6. |
Financial Statements | Statement of Operations |
Year ended 8/31/24 Net investment income (loss) | |
Income | |
Dividends | $66,989,636 |
Dividends from affiliated issuers | 2,177,346 |
Other | 172,237 |
Foreign taxes withheld | (2,015,721) |
Total investment income | $67,323,498 |
Expenses | |
Management fee | $19,243,563 |
Distribution and service fees | 266,289 |
Shareholder servicing costs | 956,783 |
Administrative services fee | 346,891 |
Independent Trustees' compensation | 41,415 |
Custodian fee | 234,195 |
Shareholder communications | 197,289 |
Audit and tax fees | 97,179 |
Legal fees | 13,558 |
Miscellaneous | 252,063 |
Total expenses | $21,649,225 |
Reduction of expenses by investment adviser | (306,902) |
Net expenses | $21,342,323 |
Net investment income (loss) | $45,981,175 |
Realized and unrealized gain (loss) | |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers | $(97,783,737) |
Affiliated issuers | (10,688) |
Foreign currency | (789,498) |
Net realized gain (loss) | $(98,583,923) |
Change in unrealized appreciation or depreciation | |
Unaffiliated issuers | $404,233,153 |
Affiliated issuers | 5,199 |
Translation of assets and liabilities in foreign currencies | 143,698 |
Net unrealized gain (loss) | $404,382,050 |
Net realized and unrealized gain (loss) | $305,798,127 |
Change in net assets from operations | $351,779,302 |
Financial Statements | Statements of Changes in Net Assets |
Year ended | ||
8/31/24 | 8/31/23 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $45,981,175 | $50,530,521 |
Net realized gain (loss) | (98,583,923) | (131,184,493) |
Net unrealized gain (loss) | 404,382,050 | (34,205,130) |
Change in net assets from operations | $351,779,302 | $(114,859,102) |
Total distributions to shareholders | $(49,001,683) | $(138,502,792) |
Change in net assets from fund share transactions | $(226,937,246) | $51,807,127 |
Total change in net assets | $75,840,373 | $(201,554,767) |
Net assets | ||
At beginning of period | 2,427,613,409 | 2,629,168,176 |
At end of period | $2,503,453,782 | $2,427,613,409 |
Financial Statements | Financial Highlights |
Class A | Year ended | ||||
8/31/24 | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | |
Net asset value, beginning of period | $15.79 | $17.49 | $21.62 | $16.38 | $17.68 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.27 | $0.28 | $0.21 | $0.23 | $0.31 |
Net realized and unrealized gain (loss) | 2.05 | (1.10) | (3.92) | 5.15 | (0.64) |
Total from investment operations | $2.32 | $(0.82) | $(3.71) | $5.38 | $(0.33) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.27) | $(0.04) | $(0.30) | $(0.14) | $(0.97) |
From net realized gain | - | (0.84) | (0.12) | - | - |
Total distributions declared to shareholders | $(0.27) | $(0.88) | $(0.42) | $(0.14) | $(0.97) |
Net asset value, end of period (x) | $17.84 | $15.79 | $17.49 | $21.62 | $16.38 |
Total return (%) (r)(s)(t)(x) | 14.78 | (4.81) | (17.53) | 33.02 | (2.04) |
Ratios (%) (to average net assets) and Supplemental data: |
|||||
Expenses before expense reductions | 1.20 | 1.20 | 1.18 | 1.19 | 1.22 |
Expenses after expense reductions | 1.19 | 1.19 | 1.17 | 1.18 | 1.21 |
Net investment income (loss) | 1.67 | 1.78 | 1.05 | 1.21 | 1.89 |
Portfolio turnover rate | 48 | 30 | 29 | 22 | 39 |
Net assets at end of period (000 omitted) | $59,440 | $60,446 | $77,694 | $112,559 | $75,185 |
Class B | Year ended | ||||
8/31/24 | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | |
Net asset value, beginning of period | $15.80 | $17.57 | $21.74 | $16.47 | $17.78 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.15 | $0.17 | $0.06 | $0.09 | $0.19 |
Net realized and unrealized gain (loss) | 2.05 | (1.10) | (3.96) | 5.18 | (0.65) |
Total from investment operations | $2.20 | $(0.93) | $(3.90) | $5.27 | $(0.46) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.06) | $- | $(0.15) | $(0.00)(w) | $(0.85) |
From net realized gain | - | (0.84) | (0.12) | - | - |
Total distributions declared to shareholders | $(0.06) | $(0.84) | $(0.27) | $(0.00)(w) | $(0.85) |
Net asset value, end of period (x) | $17.94 | $15.80 | $17.57 | $21.74 | $16.47 |
Total return (%) (r)(s)(t)(x) | 13.92 | (5.44) | (18.19) | 32.02 | (2.79) |
Ratios (%) (to average net assets) and Supplemental data: |
|||||
Expenses before expense reductions | 1.95 | 1.95 | 1.93 | 1.94 | 1.97 |
Expenses after expense reductions | 1.94 | 1.94 | 1.92 | 1.93 | 1.96 |
Net investment income (loss) | 0.96 | 1.04 | 0.32 | 0.48 | 1.15 |
Portfolio turnover rate | 48 | 30 | 29 | 22 | 39 |
Net assets at end of period (000 omitted) | $307 | $672 | $1,126 | $1,396 | $1,173 |
Class C | Year ended | ||||
8/31/24 | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | |
Net asset value, beginning of period | $15.76 | $17.53 | $21.70 | $16.45 | $17.76 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.15 | $0.17 | $0.06 | $0.09 | $0.19 |
Net realized and unrealized gain (loss) | 2.04 | (1.10) | (3.96) | 5.18 | (0.66) |
Total from investment operations | $2.19 | $(0.93) | $(3.90) | $5.27 | $(0.47) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.12) | $- | $(0.15) | $(0.02) | $(0.84) |
From net realized gain | - | (0.84) | (0.12) | - | - |
Total distributions declared to shareholders | $(0.12) | $(0.84) | $(0.27) | $(0.02) | $(0.84) |
Net asset value, end of period (x) | $17.83 | $15.76 | $17.53 | $21.70 | $16.45 |
Total return (%) (r)(s)(t)(x) | 13.91 | (5.45) | (18.19) | 32.09 | (2.81) |
Ratios (%) (to average net assets) and Supplemental data: |
|||||
Expenses before expense reductions | 1.95 | 1.95 | 1.93 | 1.94 | 1.97 |
Expenses after expense reductions | 1.94 | 1.94 | 1.92 | 1.93 | 1.95 |
Net investment income (loss) | 0.93 | 1.03 | 0.32 | 0.47 | 1.15 |
Portfolio turnover rate | 48 | 30 | 29 | 22 | 39 |
Net assets at end of period (000 omitted) | $7,890 | $10,849 | $13,171 | $16,414 | $11,213 |
Class I | Year ended | ||||
8/31/24 | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | |
Net asset value, beginning of period | $15.85 | $17.56 | $21.71 | $16.45 | $17.75 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.31 | $0.32 | $0.27 | $0.27 | $0.35 |
Net realized and unrealized gain (loss) | 2.06 | (1.10) | (3.94) | 5.17 | (0.64) |
Total from investment operations | $2.37 | $(0.78) | $(3.67) | $5.44 | $(0.29) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.31) | $(0.09) | $(0.36) | $(0.18) | $(1.01) |
From net realized gain | - | (0.84) | (0.12) | - | - |
Total distributions declared to shareholders | $(0.31) | $(0.93) | $(0.48) | $(0.18) | $(1.01) |
Net asset value, end of period (x) | $17.91 | $15.85 | $17.56 | $21.71 | $16.45 |
Total return (%) (r)(s)(t)(x) | 15.09 | (4.57) | (17.32) | 33.31 | (1.80) |
Ratios (%) (to average net assets) and Supplemental data: |
|||||
Expenses before expense reductions | 0.95 | 0.95 | 0.93 | 0.94 | 0.97 |
Expenses after expense reductions | 0.94 | 0.94 | 0.92 | 0.93 | 0.96 |
Net investment income (loss) | 1.90 | 2.03 | 1.32 | 1.47 | 2.14 |
Portfolio turnover rate | 48 | 30 | 29 | 22 | 39 |
Net assets at end of period (000 omitted) | $976,417 | $1,056,120 | $1,143,428 | $1,070,398 | $703,606 |
Class R1 | Year ended | ||||
8/31/24 | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | |
Net asset value, beginning of period | $15.65 | $17.42 | $21.51 | $16.32 | $17.65 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.15 | $0.16 | $0.06 | $0.09 | $0.19 |
Net realized and unrealized gain (loss) | 2.01 | (1.09) | (3.92) | 5.13 | (0.65) |
Total from investment operations | $2.16 | $(0.93) | $(3.86) | $5.22 | $(0.46) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.16) | $- | $(0.11) | $(0.03) | $(0.87) |
From net realized gain | - | (0.84) | (0.12) | - | - |
Total distributions declared to shareholders | $(0.16) | $(0.84) | $(0.23) | $(0.03) | $(0.87) |
Net asset value, end of period (x) | $17.65 | $15.65 | $17.42 | $21.51 | $16.32 |
Total return (%) (r)(s)(t)(x) | 13.88 | (5.49) | (18.15) | 32.03 | (2.80) |
Ratios (%) (to average net assets) and Supplemental data: |
|||||
Expenses before expense reductions | 1.95 | 1.95 | 1.94 | 1.95 | 1.97 |
Expenses after expense reductions | 1.94 | 1.94 | 1.92 | 1.93 | 1.96 |
Net investment income (loss) | 0.91 | 1.03 | 0.31 | 0.48 | 1.14 |
Portfolio turnover rate | 48 | 30 | 29 | 22 | 39 |
Net assets at end of period (000 omitted) | $647 | $537 | $501 | $485 | $411 |
Class R2 | Year ended | ||||
8/31/24 | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | |
Net asset value, beginning of period | $15.85 | $17.55 | $21.71 | $16.45 | $17.76 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.23 | $0.24 | $0.17 | $0.18 | $0.27 |
Net realized and unrealized gain (loss) | 2.05 | (1.10) | (3.96) | 5.18 | (0.65) |
Total from investment operations | $2.28 | $(0.86) | $(3.79) | $5.36 | $(0.38) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.23) | $(0.00)(w) | $(0.25) | $(0.10) | $(0.93) |
From net realized gain | - | (0.84) | (0.12) | - | - |
Total distributions declared to shareholders | $(0.23) | $(0.84) | $(0.37) | $(0.10) | $(0.93) |
Net asset value, end of period (x) | $17.90 | $15.85 | $17.55 | $21.71 | $16.45 |
Total return (%) (r)(s)(t)(x) | 14.46 | (5.03) | (17.76) | 32.71 | (2.32) |
Ratios (%) (to average net assets) and Supplemental data: |
|||||
Expenses before expense reductions | 1.45 | 1.45 | 1.43 | 1.44 | 1.47 |
Expenses after expense reductions | 1.44 | 1.44 | 1.42 | 1.43 | 1.46 |
Net investment income (loss) | 1.41 | 1.53 | 0.82 | 0.97 | 1.67 |
Portfolio turnover rate | 48 | 30 | 29 | 22 | 39 |
Net assets at end of period (000 omitted) | $2,449 | $2,814 | $2,818 | $3,504 | $2,270 |
Class R3 | Year ended | ||||
8/31/24 | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | |
Net asset value, beginning of period | $15.84 | $17.55 | $21.70 | $16.44 | $17.76 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.27 | $0.28 | $0.21 | $0.23 | $0.31 |
Net realized and unrealized gain (loss) | 2.05 | (1.10) | (3.94) | 5.17 | (0.65) |
Total from investment operations | $2.32 | $(0.82) | $(3.73) | $5.40 | $(0.34) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.27) | $(0.05) | $(0.30) | $(0.14) | $(0.98) |
From net realized gain | - | (0.84) | (0.12) | - | - |
Total distributions declared to shareholders | $(0.27) | $(0.89) | $(0.42) | $(0.14) | $(0.98) |
Net asset value, end of period (x) | $17.89 | $15.84 | $17.55 | $21.70 | $16.44 |
Total return (%) (r)(s)(t)(x) | 14.75 | (4.80) | (17.53) | 33.04 | (2.09) |
Ratios (%) (to average net assets) and Supplemental data: |
|||||
Expenses before expense reductions | 1.20 | 1.20 | 1.18 | 1.20 | 1.22 |
Expenses after expense reductions | 1.19 | 1.19 | 1.17 | 1.18 | 1.21 |
Net investment income (loss) | 1.68 | 1.77 | 1.05 | 1.22 | 1.90 |
Portfolio turnover rate | 48 | 30 | 29 | 22 | 39 |
Net assets at end of period (000 omitted) | $4,811 | $5,957 | $6,865 | $6,082 | $4,255 |
Class R4 | Year ended | ||||
8/31/24 | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | |
Net asset value, beginning of period | $15.88 | $17.56 | $21.72 | $16.45 | $17.75 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.31 | $0.33 | $0.28 | $0.27 | $0.35 |
Net realized and unrealized gain (loss) | 2.05 | (1.10) | (3.97) | 5.18 | (0.64) |
Total from investment operations | $2.36 | $(0.77) | $(3.69) | $5.45 | $(0.29) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.31) | $(0.07) | $(0.35) | $(0.18) | $(1.01) |
From net realized gain | - | (0.84) | (0.12) | - | - |
Total distributions declared to shareholders | $(0.31) | $(0.91) | $(0.47) | $(0.18) | $(1.01) |
Net asset value, end of period (x) | $17.93 | $15.88 | $17.56 | $21.72 | $16.45 |
Total return (%) (r)(s)(t)(x) | 15.00 | (4.47) | (17.36) | 33.37 | (1.79) |
Ratios (%) (to average net assets) and Supplemental data: |
|||||
Expenses before expense reductions | 0.95 | 0.95 | 0.92 | 0.95 | 0.97 |
Expenses after expense reductions | 0.94 | 0.94 | 0.91 | 0.93 | 0.96 |
Net investment income (loss) | 1.89 | 2.04 | 1.32 | 1.47 | 2.13 |
Portfolio turnover rate | 48 | 30 | 29 | 22 | 39 |
Net assets at end of period (000 omitted) | $1,433 | $1,134 | $1,242 | $5,680 | $3,649 |
Class R6 | Year ended | ||||
8/31/24 | 8/31/23 | 8/31/22 | 8/31/21 | 8/31/20 | |
Net asset value, beginning of period | $15.91 | $17.61 | $21.78 | $16.49 | $17.80 |
Income (loss) from investment operations | |||||
Net investment income (loss) (d) | $0.32 | $0.34 | $0.28 | $0.29 | $0.37 |
Net realized and unrealized gain (loss) | 2.07 | (1.09) | (3.96) | 5.19 | (0.65) |
Total from investment operations | $2.39 | $(0.75) | $(3.68) | $5.48 | $(0.28) |
Less distributions declared to shareholders | |||||
From net investment income | $(0.33) | $(0.11) | $(0.37) | $(0.19) | $(1.03) |
From net realized gain | - | (0.84) | (0.12) | - | - |
Total distributions declared to shareholders | $(0.33) | $(0.95) | $(0.49) | $(0.19) | $(1.03) |
Net asset value, end of period (x) | $17.97 | $15.91 | $17.61 | $21.78 | $16.49 |
Total return (%) (r)(s)(t)(x) | 15.13 | (4.39) | (17.31) | 33.49 | (1.76) |
Ratios (%) (to average net assets) and Supplemental data: |
|||||
Expenses before expense reductions | 0.87 | 0.86 | 0.84 | 0.87 | 0.89 |
Expenses after expense reductions | 0.85 | 0.85 | 0.82 | 0.85 | 0.88 |
Net investment income (loss) | 1.99 | 2.12 | 1.41 | 1.55 | 2.23 |
Portfolio turnover rate | 48 | 30 | 29 | 22 | 39 |
Net assets at end of period (000 omitted) | $1,450,060 | $1,289,084 | $1,382,324 | $1,419,175 | $1,068,677 |
(d) | Per share data is based on average shares outstanding. |
(r) | Certain expenses have been reduced without which performance would have been lower. |
(s) | From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower. |
(t) | Total returns do not include any applicable sales charges. |
(w) | Per share amount was less than $0.01. |
(x) | The net asset values and total returns have been calculated on net assets which include adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes. |
Financial Instruments | Level 1 | Level 2 | Level 3 | Total |
Equity Securities: | ||||
United States | $1,692,928,628 | $- | $- | $1,692,928,628 |
United Kingdom | 92,631,066 | 109,703,475 | - | 202,334,541 |
Japan | - | 143,552,403 | - | 143,552,403 |
Australia | - | 141,176,473 | - | 141,176,473 |
Singapore | 15,421,379 | 52,091,288 | - | 67,512,667 |
Germany | 54,223,387 | - | - | 54,223,387 |
Canada | 45,530,391 | - | - | 45,530,391 |
Belgium | - | 41,452,903 | - | 41,452,903 |
Spain | - | 40,958,414 | - | 40,958,414 |
Other Countries | 13,235,500 | 28,508,560 | - | 41,744,060 |
Mutual Funds | 28,562,169 | - | - | 28,562,169 |
Total | $1,942,532,520 | $557,443,516 | $- | $2,499,976,036 |
Year ended 8/31/24 |
Year ended 8/31/23 |
|
Ordinary income (including any short-term capital gains) | $49,001,683 | $14,500,887 |
Long-term capital gains | - | 124,001,905 |
Total distributions | $49,001,683 | $138,502,792 |
As of 8/31/24 | |
Cost of investments | $2,046,987,565 |
Gross appreciation | 504,369,400 |
Gross depreciation | (51,380,929) |
Net unrealized appreciation (depreciation) | $452,988,471 |
Undistributed ordinary income | 33,602,757 |
Capital loss carryforwards | (240,323,410) |
Other temporary differences | 79,817 |
Total distributable earnings (loss) | $246,347,635 |
Short-Term | $(14,343,373) |
Long-Term | (225,980,037) |
Total | $(240,323,410) |
Year ended 8/31/24 |
Year ended 8/31/23 |
||
Class A | $964,247 | $3,610,022 | |
Class B | 1,669 | 50,081 | |
Class C | 66,223 | 614,058 | |
Class I | 20,786,506 | 57,962,597 | |
Class R1 | 5,616 | 23,952 | |
Class R2 | 38,105 | 139,097 | |
Class R3 | 99,439 | 345,654 | |
Class R4 | 24,419 | 65,342 | |
Class R6 | 27,015,459 | 75,691,989 | |
Total | $49,001,683 | $138,502,792 |
Up to $1 billion | 0.90% |
In excess of $1 billion and up to $2.5 billion | 0.75% |
In excess of $2.5 billion | 0.65% |
Classes | ||||||||
A | B | C | I | R1 | R2 | R3 | R4 | R6 |
1.35% | 2.10% | 2.10% | 1.10% | 2.10% | 1.60% | 1.35% | 1.10% | 1.04% |
Distribution Fee Rate (d) |
Service Fee Rate (d) |
Total Distribution Plan (d) |
Annual Effective Rate (e) |
Distribution and Service Fee |
|
Class A | - | 0.25% | 0.25% | 0.25% | $ 142,343 |
Class B | 0.75% | 0.25% | 1.00% | 1.00% | 4,170 |
Class C | 0.75% | 0.25% | 1.00% | 1.00% | 86,756 |
Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 5,616 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 12,444 |
Class R3 | - | 0.25% | 0.25% | 0.25% | 14,960 |
Total Distribution and Service Fees | $266,289 |
(d) | In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each class's average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting period. Any rate changes, if applicable, are detailed below. |
(e) | The annual effective rates represent actual fees incurred under the distribution plan for the year ended August 31, 2024 based on each class's average daily net assets. MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. There were no service fee rebates for the the year ended August 31, 2024. |
Amount | |
Class A | $919 |
Class B | 77 |
Class C | 962 |
Date | Transaction | Class | Shares | Amount |
8/19/2024 | Redemption | Class A | 3 | $61 |
8/19/2024 | Redemption | Class C | 2 | 27 |
8/19/2024 | Redemption | Class I | 4 | 62 |
8/19/2024 | Redemption | Class R2 | 1 | 24 |
8/19/2024 | Redemption | Class R3 | 2 | 42 |
8/19/2024 | Redemption | Class R4 | 2 | 42 |
Year ended 8/31/24 |
Year ended 8/31/23 |
||||
Shares | Amount | Shares | Amount | ||
Shares sold | |||||
Class A | 479,441 | $7,659,747 | 564,723 | $8,974,409 | |
Class B | - | - | 630 | 9,981 | |
Class C | 26,274 | 417,730 | 78,098 | 1,244,482 | |
Class I | 11,605,345 | 185,609,450 | 17,943,726 | 283,923,826 | |
Class R1 | 2,848 | 45,489 | 5,385 | 85,073 | |
Class R2 | 25,466 | 408,971 | 54,018 | 849,655 | |
Class R3 | 118,717 | 1,913,734 | 107,257 | 1,700,467 | |
Class R4 | 28,338 | 450,561 | 18,003 | 290,567 | |
Class R6 | 12,466,914 | 192,474,700 | 15,509,890 | 246,353,977 | |
24,753,343 | $388,980,382 | 34,281,730 | $543,432,437 | ||
Shares issued to shareholders in reinvestment of distributions |
|||||
Class A | 56,846 | $962,398 | 223,581 | $3,601,891 | |
Class B | 98 | 1,669 | 3,091 | 50,081 | |
Class C | 3,895 | 66,223 | 37,991 | 613,933 | |
Class I | 1,184,140 | 20,083,023 | 3,451,144 | 55,701,471 | |
Class R1 | 333 | 5,616 | 1,492 | 23,952 | |
Class R2 | 2,239 | 38,105 | 8,591 | 139,097 | |
Class R3 | 5,856 | 99,439 | 21,389 | 345,654 | |
Class R4 | 1,438 | 24,419 | 4,043 | 65,342 | |
Class R6 | 1,394,041 | 23,712,646 | 3,711,958 | 60,059,484 | |
2,648,886 | $44,993,538 | 7,463,280 | $120,600,905 |
Year ended 8/31/24 |
Year ended 8/31/23 |
||||
Shares | Amount | Shares | Amount | ||
Shares reacquired | |||||
Class A | (1,031,748) | $(16,468,056) | (1,404,542) | $(22,358,816) | |
Class B | (25,555) | (394,359) | (25,237) | (404,219) | |
Class C | (276,019) | (4,314,035) | (178,870) | (2,838,215) | |
Class I | (24,880,808) | (402,552,681) | (19,908,075) | (317,365,437) | |
Class R1 | (874) | (13,625) | (1,311) | (21,031) | |
Class R2 | (68,428) | (1,101,090) | (45,671) | (720,744) | |
Class R3 | (231,764) | (3,841,655) | (143,846) | (2,314,127) | |
Class R4 | (21,299) | (341,865) | (21,323) | (336,930) | |
Class R6 | (14,206,245) | (231,883,800) | (16,651,299) | (265,866,696) | |
(40,742,740) | $(660,911,166) | (38,380,174) | $(612,226,215) | ||
Net change | |||||
Class A | (495,461) | $(7,845,911) | (616,238) | $(9,782,516) | |
Class B | (25,457) | (392,690) | (21,516) | (344,157) | |
Class C | (245,850) | (3,830,082) | (62,781) | (979,800) | |
Class I | (12,091,323) | (196,860,208) | 1,486,795 | 22,259,860 | |
Class R1 | 2,307 | 37,480 | 5,566 | 87,994 | |
Class R2 | (40,723) | (654,014) | 16,938 | 268,008 | |
Class R3 | (107,191) | (1,828,482) | (15,200) | (268,006) | |
Class R4 | 8,477 | 133,115 | 723 | 18,979 | |
Class R6 | (345,290) | (15,696,454) | 2,570,549 | 40,546,765 | |
(13,340,511) | $(226,937,246) | 3,364,836 | $51,807,127 |
Affiliated Issuers |
Beginning Value |
Purchases |
Sales Proceeds |
Realized Gain (Loss) |
Change in Unrealized Appreciation or Depreciation |
Ending Value |
MFS Institutional Money Market Portfolio | $32,593,176 | $595,255,875 | $599,281,393 | $(10,688) | $5,199 | $28,562,169 |
Affiliated Issuers |
Dividend Income |
Capital Gain Distributions |
MFS Institutional Money Market Portfolio | $2,177,346 | $- |
ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable to the Registrant.
ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable to the Registrant.
ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
Not applicable to the Registrant.
ITEM 15. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
There were no material changes to the procedures by which shareholders may send recommendations to the Board for nominees to the Registrant's Board since the Registrant last provided disclosure as to such procedures in response to the requirements of Item 407 (c)(2)(iv) of Regulation S-K or this Item.
ITEM 16. CONTROLS AND PROCEDURES.
Based upon their evaluation of the effectiveness of the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the "Act")) as conducted within 90 days of the filing date of this report on Form N-CSR, the Registrant's principal financial officer and principal executive officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the Registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.
There were no changes in the Registrant's internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the period covered by the report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.
ITEM 17. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable to the Registrant.
ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.
Not applicable to the Registrant.
ITEM 19. EXHIBITS.
Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Attached hereto as EX-99.COE.
Any policy required by the listing standards adopted pursuant to Rule 10D-1 under the Exchange Act (17 CFR 240.10D-1) by the registered national securities exchange or registered national securities association upon which the registrant's securities are listed. Not applicable.
A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2): Attached hereto as EX-99.302CERT.
Any written solicitation to purchase securities under Rule 23c-1 under the Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons. Not applicable.
Change in the registrant's independent public accountant. Not applicable.
If the report is filed under Section 13(a) or 15(d) of the Exchange Act, provide the certifications required by Rule 30a-2(b) under the Act (17 CFR 270.30a-2(b)), Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)) and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as an exhibit. A certification furnished pursuant to this paragraph will not be deemed "filed" for the purposes of Section 18 of the Exchange Act (15 U.S.C. 78r), or otherwise subject to the liability of that section. Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registrant specifically incorporates it by reference. Attached hereto as EX-99.906CERT.
Notice
A copy of the Amended and Restated Declaration of Trust, as amended, of the Registrant is on file with the Secretary of State of The Commonwealth of Massachusetts and notice is hereby given that this instrument is executed on behalf of the Registrant by an officer of the Registrant as an officer and not individually and the obligations of or arising out of this instrument are not binding upon any of the Trustees or shareholders individually, but are binding only upon the assets and property of the respective constituent series of the Registrant.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) MFS SERIES TRUST XIII
By (Signature and Title)*
/S/ DAVID L. DILORENZO
David L. DiLorenzo, President
Date: October 16, 2024
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)*
/S/ DAVID L. DILORENZO
David L. DiLorenzo, President (Principal Executive Officer)
Date: October 16, 2024
By (Signature and Title)*
/S/ KASEY L. PHILLIPS
Kasey L. Phillips, Treasurer (Principal Financial Officer and Accounting Officer)
Date: October 16, 2024
* Print name and title of each signing officer under his or her signature.