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Massachusetts Investors Trust
Massachusetts Investors Growth Stock Fund
MFS Capital Growth Fund
MFS Emerging Growth Fund
MFS Gold & Natural Resources Fund
MFS Growth Opportunities Fund
MFS Managed Sectors Fund
MFS OTC Fund
MFS Research Fund
MFS Value Fund
MFS Total Return Fund
MFS Utilities Fund
MFS Bond Fund
MFS Government Mortgage Fund
MFS Government Securities Fund
MFS High Income Fund
MFS Intermediate Income Fund
MFS Strategic Income Fund
MFS Government Limited Maturity Fund
MFS Limited Maturity Fund
MFS World Equity Fund
MFS World Governments Fund
MFS World Growth Fund
MFS World Total Return Fund
MFS World Asset Allocation Fund
MFS Cash Reserve Fund
MFS Government Money Market Fund
MFS Money Market Fund
Supplement to the Current Prospectus
Class A shares of the Fund may be purchased at net asset value by retirement
plans whose third party administrators have entered into an agreement with MFS
Fund Distributors, Inc. ("MFD") or one or more of its affiliates to perform
certain administrative services, subject to certain operational requirements
specified from time to time by MFD or its affiliates.
In lieu of the sales commission and service fees normally paid by MFD to
broker-dealers of record as described in the Prospectus, MFD has agreed to pay
Bear, Stearns & Co. Inc. the following amounts with respect to Class A shares of
the Fund purchased through a special retirement plan program offered by a third
party administrator: (i) an amount equal to 0.05% per annum of the average daily
net assets invested in shares of the Fund pursuant to such program, and (ii) an
amount equal to 0.20% of the net asset value of all new purchases of shares of
the Fund made through such program, subject to a refund in the event that such
shares are redeemed within 36 months.
The date of this Supplement is February 1, 1995.
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MFS CASH RESERVE FUND
MASSACHUSETTS INVESTORS TRUST
MFS TOTAL RETURN FUND
MFS ALABAMA MUNICIPAL BOND FUND
MASSACHUSETTS INVESTORS GROWTH STOCK FUND
MFS ARKANSAS MUNICIPAL BOND FUND
MFS GROWTH OPPORTUNITIES FUND
MFS CALIFORNIA MUNICIPAL BOND FUND
MFS EMERGING GROWTH FUND
MFS FLORIDA MUNICIPAL BOND FUND
MFS CAPITAL GROWTH FUND
MFS GEORGIA MUNICIPAL BOND FUND
MFS INTERMEDIATE INCOME FUND
MFS LOUISIANA MUNICIPAL BOND FUND
MFS GOLD & NATURAL RESOURCES FUND
MFS MARYLAND MUNICIPAL BOND FUND
MFS MANAGED SECTORS FUND
MFS MASSACHUSETTS MUNICIPAL BOND FUND
MFS VALUE FUND
MFS MISSISSIPPI MUNICIPAL BOND FUND
MFS UTILITIES FUND
MFS NEW YORK MUNICIPAL BOND FUND
MFS WORLD EQUITY FUND
MFS NORTH CAROLINA MUNICIPAL BOND FUND
MFS WORLD TOTAL RETURN FUND
MFS PENNSYLVANIA MUNICIPAL BOND FUND
MFS BOND FUND
MFS SOUTH CAROLINA MUNICIPAL BOND FUND
MFS LIMITED MATURITY FUND
MFS TENNESSEE MUNICIPAL BOND FUND
MFS GOVERNMENT MORTGAGE FUND
MFS TEXAS MUNICIPAL BOND FUND
MFS GOVERNMENT LIMITED MATURITY FUND
MFS VIRGINIA MUNICIPAL BOND FUND
MFS GOVERNMENT SECURITIES FUND
MFS WASHINGTON MUNICIPAL BOND FUND
MFS HIGH INCOME FUND
MFS WEST VIRGINIA MUNICIPAL BOND FUND
MFS STRATEGIC INCOME FUND
MFS MUNICIPAL LIMITED MATURITY FUND
MFS WORLD GOVERNMENTS FUND
MFS MUNICIPAL BOND FUND
MFS WORLD GROWTH FUND
MFS MUNICIPAL INCOME FUND
MFS OTC FUND
MFS RESEARCH FUND
MFS MUNICIPAL HIGH INCOME FUND
MFS WORLD ASSET ALLOCATION FUND
MFS GOVERNMENT MONEY MARKET FUND
MFS MONEY MARKET FUND
Supplement to the Current Prospectus
The following information supplements the disclosure found under the
caption "Information Concerning Shares of the Fund - Purchases" in the
Prospectus:
MFS Fund Distributors, Inc. ("MFD"), the distributor of each of the
above-named funds (the "Funds"), has entered into a five-year exclusive
marketing agreement with IBAA Financial Services Corporation ("IBFS"),
pursuant to which MFD has paid IBFS, as compensation for IBFS'
selection of the Funds for its exclusive marketing program, the use of
the IBFS name and logo, and the marketing and distribution of the
Funds, two initial payments for the first two years of such agreement
(I.E. 1993 and 1994) to be used by IBFS for marketing, administrative,
legal, registration and other general expenses. Thereafter, as
additional compensation for IBFS' marketing and distribution of the
Funds, MFD has agreed to pay IBFS an annual amount (subject to a
minimum) based upon the value of shares of the Funds for which IBFS
acts as broker-dealer of record plus the value of shares of the Funds
sold by IBFS during such year.
The date of this Supplement is July 18, 1995
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MFS Managed Sectors Fund
MFS Government Mortgage Fund
MFS Equity Income Fund
MFS/Foreign & Colonial International Growth Fund
MFS Research Growth and Income Fund
MFS/Foreign & Colonial International Growth and Income Fund
MFS Core Growth Fund
MFS/Foreign & Colonial Emerging Markets Equity Fund
MFS Aggressive Growth Fund
MFS Alabama Municipal Bond Fund
MFS Special Opportunities Fund
MFS Arkansas Municipal Bond Fund
MFS Emerging Growth Fund
MFS California Municipal Bond Fund
MFS Capital Growth Fund
MFS Florida Municipal Bond Fund
MFS Gold & Natural Resources Fund
MFS Georgia Municipal Bond Fund
MFS Intermediate Income Fund
MFS Maryland Municipal Bond Fund
MFS High Income Fund
MFS Massachusetts Municipal Bond Fund
MFS Municipal High Income Fund
MFS Mississippi Municipal Bond Fund
MFS Municipal Bond Fund
MFS New York Municipal Bond Fund
MFS OTC Fund
MFS North Carolina Municipal Bond Fund
MFS Total Return Fund
MFS Pennsylvania Municipal Bond Fund
MFS Research Fund
MFS South Carolina Municipal Bond Fund
MFS World Total Return Fund
MFS Tennessee Municipal Bond Fund
MFS Utilities Fund
MFS Virginia Municipal Bond Fund
MFS World Equity Fund
MFS West Virginia Municipal Bond Fund
MFS World Governments Fund
MFS Municipal Income Fund
MFS Value Fund
MFS Growth Opportunities Fund
MFS Strategic Income Fund
MFS Government Securities Fund
MFS World Growth Fund
Massachusetts Investors Growth Stock Fund
MFS Bond Fund
MFS Government Limited Maturity Fund
MFS Limited Maturity Fund
Massachusetts Investors Trust
MFS Municipal Limited Maturity Fund
Supplement to the Current Prospectus
This Supplement describes certain changes to the manner in which the
Fund calculates the performance of its newer class(es) of shares.
The Fund offers multiple classes of shares which were initially offered
for sale to the public on different dates. In calculating the total rate of
return for each class of the Fund's shares, the Fund historically has calculated
this performance for an individual class of shares using a starting date which
was the date on which the class initially was offered for sale to the public.
Commencing on July 1, 1996, the calculation of total rate of return for a class
of shares which initially was offered for sale to the public subsequent to
another class of shares of the Fund will be based both on (i) the performance of
the Fund's newer class from the date it initially was offered for sale to the
public and (ii) the performance of the Fund's oldest class from the date it
initially was offered for sale to the public up to the date that the newer class
initially was offered for sale to the public.
As discussed in the Fund's prospectus, the sales charges, expenses and
expense ratios, and therefore the performance, of the Fund's classes of shares
differ. In calculating total rate of return for a newer class of shares in
accordance with certain formulas required by the Securities and Exchange
Commission, the performance will be adjusted to take into account the fact that
the newer class is subject to a different sales charge than the oldest class
(E.G., if the newer class is Class A shares, the total rate of return quoted
will reflect the deduction of the initial sales charge applicable to Class A
shares; if the newer class is Class B shares, the total rate of return quoted
will reflect the deduction of the contingent deferred sales charge applicable to
Class B shares). However, the performance will not be adjusted to take into
account the fact that the newer class of shares bears different class specific
expenses than the oldest class of shares (E.G., Rule 12b-1 fees). Therefore, the
total rate of return quoted for a newer class of shares will differ from the
return that would be quoted had the newer class of shares been outstanding for
the entire period over which the calculation is based (I.E., the total rate of
return quoted for the newer class will be higher than the return that would have
been quoted had the newer class of shares been outstanding for the entire period
over which the calculation is based if the class specific expenses for the newer
class are HIGHER than the class specific expenses of the oldest class, and the
total rate of return quoted for the newer class will be LOWER than the return
that would be quoted had the newer class of shares been outstanding for this
entire period if the class specific expenses for the newer class are LOWER than
the class specific expenses of the oldest class).
The date of this Supplement is July 1, 1996
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MFS Managed Sectors Fund
MFS Municipal Limited Maturity Fund
MFS World Asset Allocation Fund
MFS Government Mortgage Fund
MFS Equity Income Fund
MFS/Foreign & Colonial International Growth Fund
MFS Research Growth and Income Fund
MFS/Foreign & Colonial International Growth and Income Fund
MFS Core Growth Fund
MFS/Foreign & Colonial Emerging Markets Equity Fund
MFS Aggressive Growth Fund
MFS Alabama Municipal Bond Fund
MFS Special Opportunities Fund
MFS Arkansas Municipal Bond Fund
MFS Emerging Growth Fund
MFS California Municipal Bond Fund
MFS Capital Growth Fund
MFS Florida Municipal Bond Fund
MFS Gold & Natural Resources Fund
MFS Georgia Municipal Bond Fund
MFS Intermediate Income Fund
MFS Maryland Municipal Bond Fund
MFS High Income Fund
MFS Massachusetts Municipal Bond Fund
MFS Municipal High Income Fund
MFS Mississippi Municipal Bond Fund
MFS Municipal Bond Fund
MFS New York Municipal Bond Fund
MFS OTC Fund
MFS North Carolina Municipal Bond Fund
MFS Total Return Fund
MFS Pennsylvania Municipal Bond Fund
MFS Research Fund
MFS South Carolina Municipal Bond Fund
MFS World Total Return Fund
MFS Tennessee Municipal Bond Fund
MFS Utilities Fund
MFS Virginia Municipal Bond Fund
MFS World Equity Fund
MFS West Virginia Municipal Bond Fund
MFS World Governments Fund
MFS Municipal Bond Fund
MFS Value Fund
MFS Growth Opportunities Fund
MFS Strategic Income Fund
MFS Government Securities Fund
MFS World Growth Fund
Massachusetts Investors Growth Stock Fund
MFS Bond Fund
MFS Government Limited Maturity Fund
MFS Limited Maturity Fund
Massachusetts Investors Trust
SUPPLEMENT TO THE CURRENT PROSPECTUS
This supplement describes certain changes to the imposition and waivers
of sales charges with respect to the Fund's Class A and Class B shares purchased
by certain retirement plans.
Class A Shares:
Class A shares are generally offered at net asset value plus an initial
sales charge, but in certain circumstances are offered at net asset value
without an initial sales charge but subject to a 1% contingent deferred sales
charge ("CDSC") upon redemption. These circumstances are described below, and
supersede any description of these circumstances contained in the Prospectus.
Purchases subject to a CDSC (but not an initial sales charge). In the
following three circumstances, Class A shares are offered at net asset value
without an initial sales charge but subject to a CDSC, equal to 1% of the lesser
of the value of the shares redeemed (exclusive of reinvested dividend and
capital gain distributions) or the total cost of such shares, in the event of a
share redemption within 12 months following the purchase:
(i) on investments of $1 million or more in Class A shares;
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(ii) on investments in Class A shares by certain retirement plans
subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA"), if: (a) the plan had
established an account with the MFS Service Center, Inc.
(the "Shareholder Servicing Agent") PRIOR TO July 1, 1996
and (b) the sponsoring organization has demonstrated to the
satisfaction of MFS Fund Distributors, Inc. ("MFD") that
either (i) the employer has at least 25 employees or (ii)
the aggregate purchases by the retirement plan of Class A
shares of Funds in the MFS Family of Funds (the "MFS Funds")
will be in an aggregate amount of at least $250,000 within a
reasonable period of time, as determined by MFD in its sole
discretion;
(iii) on investments in Class A shares by certain retirement plans
subject to ERISA, if: (a) the retirement plan and/or
sponsoring organization subscribes to the MFS FUNDamental
401(k) Program or any similar recordkeeping system made
available by the Shareholder Servicing Agent (the "MFS
Participant Recordkeeping System"); (b) the plan establishes
an account with the Shareholder Servicing Agent ON OR AFTER
July 1, 1996; and (c) the aggregate purchases by the
retirement plan of Class A shares of the MFS Funds will be
in an aggregate amount of at least $500,000 within a
reasonable period of time, as determined by MFD in its sole
discretion; and
(iv) on investments in Class A shares by certain retirement plans
subject to ERISA, if: (a) the plan establishes an account
with the Shareholder Servicing Agent ON OR AFTER July 1,
1996 and (b) the plan has, at the time of purchase, a market
value of $500,000 or more invested in shares of any class or
classes of the MFS Funds. The retirement plan will qualify
under this category ONLY IF the plan or its sponsoring
organization informs the Shareholder Servicing Agent prior
to the purchase that the plan has a market value of $500,000
or more invested in shares of any class or classes of the
MFS Funds. The Shareholder Servicing Agent has no
obligation independently to determine whether such a plan
qualifies under this category.
In the case of all such purchases, MFD will pay commissions to dealers
on new investments in Class A shares made through such dealers as follows:
Commission Paid by MFD to Dealers Cumulative Purchase Amount
1.00% On the first $2,000,000 plus
0.80% Over $2,000,000 to $3,000,000, plus
0.50% Over $3,000,000 to $50,000,000, plus
0.25% Over $50,000,000
For purposes of determining the level of commissions to be paid to dealers with
respect to a shareholder's new investment in Class A shares made ON OR AFTER
April 1, 1996, purchases for each shareholder account (and certain other
accounts for which the shareholder is a record or beneficial holder) will be
aggregated over a 12-month period (commencing from the date of the first such
purchase).
See "Redemptions and Repurchases - Contingent Deferred Sales Charge" in the
Prospectus for further discussion of the CDSC.
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Waivers of Class A CDSC. In certain circumstances, the CDSC imposed
upon the redemption of Class A shares is waived. These circumstances are
described in Appendix A to the Prospectus. In addition to these circumstances,
the CDSC imposed upon the redemption of Class A shares is waived with respect to
shares held by certain retirement plans qualified under Section 401(a) or 403(b)
of the Internal Revenue Code of 1986, as amended (the "Code"), and subject to
ERISA, where:
(i) the retirement plan and/or sponsoring organization does not
subscribe to the MFS Participant Recordkeeping System; and
(ii) the retirement plan and/or sponsoring organization
demonstrates to the satisfaction of the Shareholder Servicing
Agent that the retirement plan has, at the time of
certification or will have pursuant to a purchase order placed
with the certification, a market value of $500,000 or more
invested in shares of any class or classes of the MFS Funds
and aggregate assets of at least $10 million;
PROVIDED, HOWEVER, that the CDSC will not be waived (I.E., it will be imposed)
in the event that there is a change in law or regulations which results in a
material adverse change to the tax advantaged nature of the plan, or in the
event that the plan and/or sponsoring organization: (i) becomes insolvent or
bankrupt; (ii) is terminated or partially terminated under ERISA or is
liquidated or dissolved; or (iii) is acquired by, merged into, or consolidated
with, any other entity.
Class B Shares:
Class B shares are offered at net asset value without an initial sales
charge but subject to a CDSC upon redemption as described in the Fund's
Prospectus. In the case of such purchases, MFD generally pays an amount to
dealers equal to 4.00% of the amount purchased through such dealers, which is
comprised of a commission of 3.75% plus the advancement of the first year
service fee equal to 0.25% of the purchase price payable under the Class B
Distribution Plan.
Class B shares purchased by a retirement plan whose sponsoring
organization subscribes to the MFS Participant Recordkeeping System and which
has established its account with the Shareholder Servicing Agent ON OR AFTER
July 1, 1996, will be subject to the CDSC described in the Fund's Prospectus
only under limited circumstances, as explained below under "Waivers of Class B
CDSC." With respect to such purchases, MFD pays an amount to dealers equal to
3.00% of the amount purchased through such dealers (rather than the 4.00%
payment described above), which is comprised of a commission of 2.75% plus the
advancement of the first year service fee equal to 0.25% of the purchase price
payable under the Class B Distribution Plan. As discussed above, such retirement
plans are eligible to purchase Class A shares of the Fund at net asset value
without an initial sales charge but subject to a 1% CDSC if the plan has, at the
time of purchase, a market value of $500,000 or more invested in shares of any
class or classes of the MFS Funds. In this event, the plan or its sponsoring
organization should inform the Shareholder Servicing Agent that the plan is
eligible to purchase Class A shares under this category; the Shareholder
Servicing Agent has no obligation independently to determine whether such a plan
qualifies under this category for the purchase of Class A shares.
Waivers of Class B CDSC. In certain circumstances, the CDSC imposed
upon the redemption of Class B shares is waived. These circumstances are
described in Appendix A to the Prospectus. In addition to these circumstances,
the CDSC imposed upon the redemption of Class B shares is waived with respect to
shares held by a retirement plan whose sponsoring organization subscribes to the
MFS Participant Recordkeeping System and which has established an account with
the Shareholder Servicing Agent ON OR AFTER July 1, 1996; PROVIDED HOWEVER, that
the CDSC will not be waived (I.E., it will be imposed) in the event that there
is a change in law or regulations which results in a material adverse change to
the tax advantaged nature of the plan, or in the event that the plan and/or
sponsoring organization: (i) becomes insolvent or bankrupt; (ii) is terminated
or partially terminated under ERISA or is liquidated or dissolved; or (iii) is
acquired by, merged into, or consolidated with, any other entity.
The date of this Supplement is July 1, 1996.
