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MFS AGGRESSIVE GROWTH FUND
Supplement to the July 1, 1996 Prospectus
EXPENSE SUMMARY
Class A Class B Class C
Shareholder Transaction Expenses
Maximum Initial Sales Charge Imposed on
Purchases of Fund Shares (as a percentage
of offering price).......................... 4.75% 0.00% 0.00%
Maximum Contingent Deferred Sales Charge
(as a percentage of original purchase
price or redemption proceeds, as
applicable)................................See Below(1) 4.00% 1.00%
Annual Operating Expenses (as a percentage of average net assets):
Management Fees.............................. 0.75% 0.75% 0.75%
Rule 12b-1 Fees (after any applicable fee
reduction)................................. 0.00%(2) 1.00%(3) 1.00%(3)
Other Expenses(4) (5)........................ 0.44% 0.51% 0.44%
----- ----- -----
Total Operating Expenses (after any
applicable fee reduction).................. 1.19%(6) 2.26% 2.19%
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(1) Purchases of $1 million or more and certain purchases by retirement plans
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" in the Fund's Prospectus).
(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)
0.50% per annum of the average daily net assets attributable to Class A
shares (see "Distribution Plans" in the Prospectus). Distribution and
service fees under the Class A Distribution Plan are currently being waived
and may be imposed at the discretion of MFS Fund Distributors, Inc., the
Fund's distributor. When imposed, 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 separate Distribution Plans for Class B shares and
Class C shares in accordance with Rule 12b-1 under the 1940 Act, which
provide that it will pay distribution/service fees aggregating up to (but
not necessarily all of) 1.00% per annum of the average daily net assets
attributable to Class B shares under the Class B Distribution Plan and
Class C shares under the Class C Distribution Plan (see "Distribution
Plans" in the Prospectus). Distribution expenses paid under these Plans,
together with any CDSC payable upon redemption of Class B and Class C
shares, 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.
(4) "Other Expenses" are based on estimates of payments to be made for
the Fund's current fiscal year.
(5) The Fund has an expense offset arrangement which reduces the Fund's
custodian fee based upon the amount of cash maintained by the Fund with its
custodian and dividend disbursing agent, and may enter into other such
arrangements and directed brokerage arrangements (which would also
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have the effect of reducing the Fund's expenses). Any such fee reductions
are not reflected under "Other Expenses."
(6) Absent any applicable fee reductions, "Total Operating Expenses," expressed
as a percentage of the Fund's average daily net assets with respect to
Class A shares, would be 1.69%.
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:
Period Class A Class B Class C
(1) (1)
1 year............. $59 $ 63 $23 $32 $22
3 years............ $83 $101 $71 $69 $69
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(1) Assumes no redemption.
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 of the Prospectus: (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.
* * *
The last sentence on page 18 of the Prospectus is revised to state in its
entirety: "The Adviser is currently waiving its right to receive management fees
from each Fund except the Aggressive Growth Fund."
The Date of this Supplement is October 1, 1996.
