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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.
