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MFS® Global Alternative Strategy Fund

       
   
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Fact Sheet

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Symbol: DVRAX   CUSIP:  55276T107   Newspaper Abbreviation: PENDING   Fund number: 1041  
Daily NAV:  $10.31  (as of 4/22/14)
    Characteristics Fund Profile Performance Portfolio Management Dividends and Capital Gains Price History Fund Reports/Prospectus Sales Tools

Fund Profile S6

A convenient way to get exposure to a non-traditional investment strategy

A diversified portfolio combining active security selection with tactical market and currency allocation

Objective:

Seeks total return

Important Risk Considerations

 

  • Classification: Asset Allocation
  • Fiscal Year End:  OCTOBER
  • Fund Commencement: 12/20/07  
  • Class Inception: 12/20/07  
  • CUSIP:  55276T107  
  • Newspaper Abbreviation: PENDING  
  • Net Assets:  $304.66 million (as of 3/31/14)
  • Maximum Sales Charge:  5.75%

Portfolio Facts:

Fund Positions through March 31,2014
    Actively Managed Overlay Impact1 Net Exposure
Fixed Income U.S. 15.83% 24.21% 40.03%
  United Kingdom 0.10% 7.12% 7.22%
  Asia/Pacific ex-Japan 0.22% 6.63% 6.84%
  Europe ex-U.K. 0.45% 2.42% 2.86%
  North America ex-U.S. 0.54% 0.00% 0.54%
  Emerging Markets 0.49% 0.00% 0.49%
  Japan 0.27% 0.00% 0.27%
  Developed - Middle East/Africa 0.18% 0.00% 0.18%
      Total 58.43%

Equity U.S. Large Cap 26.12% 8.14% 34.26%
  Europe ex-U.K. 8.44% -3.23% 5.21%
  United Kingdom 5.77% -1.22% 4.55%
  Japan 3.58% 0.00% 3.58%
  North America ex-U.S. 0.53% 1.75% 2.28%
  Emerging Markets 2.41% -0.17% 2.25%
  Developed - Middle East/Africa 0.15% 0.00% 0.15%
  Asia/Pacific ex-Japan 1.26% -3.59% -2.32%
  U.S. Small/Mid Cap 18.01% -46.67% -28.66%
      Total 21.29%

Real Estate Related U.S. 1.38% 0.00% 1.38%
  Non-U.S. 0.61% 0.00% 0.61%
      Total 1.99%

Cash Cash & Equivalents 4.80% -10.95% -6.15%
  Derivative Cash Equivalents 2 -0.00% 24.44% 24.43%
      Total 18.29%

  Total Net Exposure Summary 91.13%

8.87%

100.00%

1Represents the Fund's exposure to various markets using derivative instruments.
2Represents the offsetting component of the Fund's derivative transactions
 
Portfolio characteristic data are based on unaudited net assets.

 
The portfolio is actively managed, and current holdings may be different.

 
Top 10 Holdings
(on 3/31/14)  
What's this?
Full & Historical Holdings
CDX NA HY 20 (CLR BKR CITI-CLR HSE CME) 5.000 JUN 20 18
Standard & Poors Index Option 1850.00 CALL JUN 21 2014
CDX NA IG 20 (CITI) 1.000 JUN 20 18
Industrial Select Sector Index Future JUN 20 14
Consumer Staples Select Sector Index Future JUN 20 14*
Aust SPI 200 Future JUN 19 14*
S&P 400 Mid Cap Future JUN 20 14*
Russell 2000 E-Mini Future JUN 20 14*
UST Bond 10Yr Future Jun 19 14*
S&P 500 Future JUN 19 14*

37.66% long and 62.58% short (*) positions of total net assets
Total number of holdings: 919
 

Portfolio characteristics are based on equivalent exposure, which measures how a portfolio's value would change due to price changes in an asset held either directly or, in the case of a derivative contract, indirectly. The market value of the holding may differ.

 

*Short positions, unlike long positions, lose value if the underlying asset gains value.

 

Morningstar RatingTM: As of 3/31/14

Morningstar Category: Multialternative
    Overall
Morningstar
RatingTM
3 yr
Morningstar
RatingTM
5 yr
Morningstar
RatingTM
10 yr
Morningstar
RatingTM
Load  
Number of funds in Multialternative: 160 160 92

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Within each asset class, the top 10%, the next 22.5%, 35%, 22.5%, and the bottom 10% receive 5, 4, 3, 2, or 1 star, respectively. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Each fund is rated exclusively against U.S. domiciled funds. The Overall Morningstar Rating™ is based on the weighted average of the number of stars assigned to the fund's applicable time periods. In cases where the fund has changed investment categories, its historical information is given less weight. If the fund has been in existence at least 10 years, the 10-year rating accounts for 50%, the 5-year for 30%, and the 3-year for 20%. If the fund has been in existence at least 5 years, but less than 10 years, the 5-year rating accounts for 60% and the 3-year for 40%. If the fund has been in existence for 3 years, but less than 5 years, the 3-year rating accounts for 100%. Morningstar rankings may vary among share classes and are based on historical total returns, which are not indicative of future results.

Load-waived (LW) Class A share star ratings do not include any front-end sales load and are intended for those investors who have access to such purchase terms (e.g., plan participants of a defined contribution plan). Not all A share mutual funds for which Morningstar calculates a load-waived A share star rating may actually waive their front-end sales load. Therefore, Morningstar strongly encourages investors to contact their investment professional to determine whether they are eligible to purchase the A share without paying the front load.

MorningStar.

©2014 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

S6 Subadvised by UBS Global Asset Management (Americas), Inc.

 
Important Risk Considerations

 
The fund may not achieve its objective and/or you could lose money on your investment in the fund.

 
Stock markets and investments in individual stocks are volatile and can decline significantly in response to issuer, market, economic, political, regulatory, geopolitical, and other conditions.

 
Investments in debt instruments may decline in value as the result of declines in the credit quality of the issuer, borrower, counterparty, underlying collateral, or changes in economic, political, issuer-specific, or other conditions. Certain types of debt instruments can be more sensitive to these factors and therefore more volatile. In addition, debt instruments entail interest rate risk (as interest rates rise, prices usually fall), therefore the Fund's share price may decline during rising rate environments as the underlying debt instruments in the portfolio adjust to the rise in rates. Funds that consist of debt instruments with longer durations are generally more sensitive to a rise in interest rates than those with shorter durations. At times, and particularly during periods of market turmoil, all or a large portion of segments of the market may not have an active trading market. As a result, it may be difficult to value these investments and it may not be possible to sell a particular investment or type of investment at any particular time or at an acceptable price.

 
Investments in foreign markets can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, or other conditions.

 
Investments in derivatives can be used to take both long and short positions, be highly volatile, result in leverage (which can magnify losses), and involve risks in addition to the risks of the underlying indicator(s) on which the derivative is based, such as counterparty and liquidity risk.

 
Investments in lower-quality debt instruments can be more volatile and have greater risk of default than higher-quality debt instruments.

 
The fund’s strategy to separate security selection decisions from market and currency exposure decisions may not be effective. UBS’ analysis of the risk/return potential of markets and currencies and its adjustment to the fund’s exposure to markets and currencies may not produce intended results and/or can lead to an investment focus that results in the fund underperforming other funds that invest in similar types to those selected by MFS or have similar investment strategies.

 
Please see the prospectus for further information on these and other risk considerations.

 
This publication is authorized for distribution only when preceded or accompanied by a prospectus, or summary prospectus, for the portfolio being offered. Consider the fund's investment objectives, risks, charges and expenses. Contact MFS or view online. Read it carefully.