MFS Investment Management Announces Planned Liquidation of MFS Special Value Trust
13 Fevereiro 2024 - 6:40PM
Business Wire
MFS Investment Management® (“MFS®”) announced that, at a meeting
held today, the Board of Trustees of MFS® Special Value Trust (the
“fund”) (NYSE: MFV), a closed-end management investment company,
approved a plan of liquidation and termination for the fund (the
"liquidation"). The liquidation is currently expected to be
completed on or about April 29, 2024.
In determining to terminate and liquidate the fund, the fund's
investment manager, MFS, and the Board considered a variety of
factors, including the relatively small size of the fund and the
nature of the fund's portfolio holdings. MFS and the Board also
considered alternatives, including merging the fund into another
investment company and modifying the strategy of the fund. On
balance MFS and the Board determined that a liquidation would be in
the best interests of the fund and its shareholders.
Subsequent to the effective date of the plan of liquidation (on
or about April 10, 2024), the fund will begin the orderly
liquidation of its assets, determine and pay, or set aside in cash
or cash equivalents, an amount at least equal to all known or
reasonably ascertainable liabilities and obligations of the fund
and make one or more liquidating distributions to the fund’s common
shareholders. The fund may also begin to liquidate certain holdings
prior to the effective date of the plan. The fund has fixed the
close of business on April 10, 2024, as the effective date for
determining the common shareholders of the fund entitled to receive
liquidating distributions. As of the effective date of the plan,
the share transfer books of the fund will be closed except as
necessary to allow settlement of trades. April 10, 2024, is
expected to be the last day of trading of the fund’s common shares
on the NYSE. The MFS Closed-End Funds Dividend Reinvestment and
Cash Purchase Plan for the fund will be terminated and shares held
in the plan will be liquidated and proceeds will be remitted
directly to shareholders participating in the plan. The fund's
March 2024 monthly common share distribution will be the fund's
final monthly distribution.
The fund’s liquidating distributions will be paid in cash. It is
currently anticipated that the liquidation will be completed on or
about April 29, 2024. Shareholders of record on April 10, 2024,
will receive distributions of the fund’s assets shortly after April
29, 2024.
About MFS Investment
Management
In 1924, MFS launched the first US open-end mutual fund,
opening the door to the markets for millions of everyday investors.
Today, as a full-service global investment manager serving
financial advisors, intermediaries and institutional clients, MFS
still serves a single purpose: to create long-term value for
clients by allocating capital responsibly. That takes our powerful
investment approach combining collective expertise, thoughtful risk
management and long-term discipline. Supported by our culture of
shared values and collaboration, our teams of diverse thinkers
actively debate ideas and assess material risks to uncover what we
believe are the best investment opportunities in the market. As of
January 31, 2024, MFS managed US$598.7 billion in assets on behalf
of individual and institutional investors worldwide. Please visit
mfs.com for more information.
Statements made in this release that look forward in time
involve risks and uncertainties and are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such risks and uncertainties include, without limitation,
the adverse effect from a decline in the securities markets or a
decline in a Fund’s performance, a general downturn in the economy,
competition from other closed-end investment companies, changes in
government policy or regulation, inability of a Fund’s investment
adviser to attract or retain key employees, inability of a Fund to
implement its investment strategy, inability of a Fund to manage
rapid expansion and unforeseen costs and other effects related to
legal proceedings or investigations of governmental and
self-regulatory organizations.
The fund is a closed end investment product advised by MFS
Investment Management. Common shares of the fund are only available
for purchase/sale on the NYSE at the current market price.
Shares may trade at a discount to NAV. Shares of the fund are
not FDIC-insured and are not deposits or other obligations of, or
guaranteed by, any bank. Shares of the fund involve investment
risk, including possible loss of principal.
MFS Investment Management 111
Huntington Ave, Boston, MA 02199
57501.1
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