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MASSACHUSETTS INVESTORS TRUST
Supplement to the May 1, 1995 Prospectus and Statement of Additional Information
The section of the Prospectus entitled "Expense Summary" is hereby revised as
follows:
1. 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)......................... 5.75% 0.00%
Maximum Contingent Deferred Sales Charge
(as a percentage of original purchase
price or redemption proceeds, as
applicable)................................ See Below1 4.00%
Annual Operating Expenses of the Fund (as a percentage of average daily net
assets):
Management Fees............................... 0.26% 0.26%
Rule 12b-1 Fees............................... 0.305%2 1.00%3
Other Expenses................................ 0.22% 0.35%
Total Operating Expenses...................... 0.785% 1.61%
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1. Purchases of $1 million or more are not subject to an initial sales charge;
however, a contingent deferred sales charge ("CDSC") of 1% will be imposed
on such purchases in the event of certain redemption transactions within 12
months following such purchases (see "Purchases").
2. 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 average daily net assets attributable to Class A
shares (see "Distribution Plans"). Currently, a portion of the 0.10% per
annum distribution fee equal to 0.025% per annum is not being imposed and
will become payable on such date as the Trustees of the Trust may
determine. The service fee is reduced to 0.15% per annum for shares sold
prior to March 1, 1991. Distribution expenses paid under this Plan,
together with the initial sales charge, may cause long-term shareholders to
pay more than the maximum sales charge that would have been permissible if
imposed entirely as an initial sales charge.
3. 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 daily net assets attributable to Class B shares (see "Distribution
Plans"). Distribution expenses paid under this Plan, together with any
CDSC, may cause long-term shareholders to pay more than the maximum sales
charge that would have been permissible if imposed entirely as an initial
sales charge.
Example of Expenses
An investor would pay the following dollar amounts of expenses on a $1,000
investment in the Fund, assuming (a) 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........................... $ 65 $ 56 $ 16
3 years.......................... 81 81 51
5 years.......................... 99 108 88
10 years.......................... 149 169(2) 169(2)
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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 purpose of the expense table above is to assist investors in understanding
the various costs and expenses that a shareholder of the Fund will bear directly
or indirectly. More complete descriptions of the following Fund expenses are set
forth in the following sections: (i) varying sales charges on share purchases -
"Purchases"; (ii) varying CDSCs - "Purchases"; (iii) management fees -
"Investment Adviser"; and (iv) Rule 12b-1 (i.e., distribution plan) fees -
"Distribution Plans."
The "Example" set forth above should not be considered a representation of past
or future expenses of the Fund; actual expenses may be greater or less than
those shown.
* * *
Page 19 of the Prospectus and page 19 of the Statement of Additional Information
are each revised to delete the sentences stating that MFS Fund Distributors,
Inc. ("MFD") is currently waiving the 0.10% per annum distribution fee with
respect to Class A shares. These sentences are replaced in their entirety as
follows: "MFD is currently receiving a portion of the 0.10% per annum
distribution fee equal to 0.075% per annum; the remaining 0.025% of this
distribution fee will become payable on such date as the Trustees of the Trust
may determine."
The date of this Supplement is January 1, 1996.
