MFS Government Securities Fund
Supplement to the Prospectus dated June 1, 1994
The following information replaces the information to which it
relates found on pages 2 and 3 of the Fund's Prospectus dated
August 1, 1994:
Expense Summary
Shareholder Transaction Expenses: Class A Class B
Maximum Initial Sales Charge Imposed on
Purchases of Fund Shares
(as a percentage of offering price 4.75% 0.00%
Maximum Contingent Deferred Sales Charge
(as a percentage of original purchase
price or redemption proceeds,
as applicable) See Below(1) 4.00%
Annual Operating Expenses (as a percentage of average net assets):
Management Fees (after applicable fee
reduction)(2)..................... 0.19% 0.19%
Rule 12b-1 Fees......... ............... 0.35 (3) 1.00 (4)
Other Expenses........................... 0.30 0.37
Total Operating Expenses (after applicable
fee reduction)(5).......... 0.84% 1.56%
(1) Purchases of $1 million or more are not subject to an
initial sales charge; however, a CDSC of 1% will be imposed on
such purchases in the event of certain redemption transactions
within 12 months following such purchases (see "Purchases"
below).
(2) The Adviser has voluntarily reduced its management fee to
0.19% per annum of the Fund's average daily net assets for an
indefinite period of time. Absent such reduction, Management
Fees would be 0.52%.
(3) The Fund has adopted a Distribution Plan for its Class A
shares in accordance with Rule 12b-1 under the Investment
Company Act of 1940, as amended (the "1940 Act"), which
provides that it will pay distribution/service fees aggregating
up to (but not necessarily all of) 0.35% per annum of the net
assets of the Fund attributable to Class A shares. (See
"Distribution Plans" in the Prospectus). After a substantial
period of time, distribution expenses paid under this Plan,
together with the initial sales charge, may total more than the
maximum sales charge that would be permissible if imposed
entirely as an initial sales charge.
(4) The Fund has adopted a Distribution Plan for its Class B
shares in accordance with Rule 12b-1 under the 1940 Act, which
provides that it will pay distribution/service fees aggregating
up to 1.00% per annum of the average net daily assets
attributable to its Class B shares. After a substantial period
of time, distribution expenses paid under this Plan, together
with any CDSC, may total more than the maximum sales charge
that would have been permissible if imposed entirely as an
initial sales charge.
(5) Absent the reduction in the Funds management fees, Total
Operating Expenses for Class A and Class B shares of the Fund
would have been 1.17% and 1.89%, respectively.
Example of Expenses
An investor would pay the following dollar amounts of expenses on
a hypothetical $1,000 investment in the Fund, assuming (a) 5%
annual return and (b) redemption at the end of each of the time
periods indicated (unless otherwise noted):
Period Class A Class B
(1)
1 year.................. $56 $56 $ 16
3 years .............. 73 79 49
5 years .............. 92 105 85
10 years .............. 146 166(2) 166(2)
(1) Assumes no redemption.
(2) Class B shares convert to Class A shares approximately eight
years after purchase; therefore years nine and ten reflect
Class A expenses.
The "Example" set forth above reflects the imposition of the
maximum sales charge and should not be considered a representation
of past or future expenses of a Fund; actual expenses may be
greater or less than those shown.
The date of this Supplement is March 1, 1995
