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MFS® Global Multi-Asset Fund

       
   
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Fact Sheet

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Symbol: GLMAX   CUSIP:  55278K104   Newspaper Abbreviation: PENDING   Fund number: 1049  
Daily NAV:  $10.20  (as of 4/22/14)
    Characteristics Fund Profile Performance Portfolio Management Dividends and Capital Gains Price History Fund Reports/Prospectus Sales Tools

Fund Profile

A flexible multi-asset class strategy

A globally diversified portfolio of traditional and non-traditional investments, flexibly managed to navigate changing market conditions.

Objective:

Seeks total return.

Important Risk Considerations

 

  • Classification: Asset Allocation
  • Fiscal Year End:  JUNE
  • Fund Commencement: 3/30/11  
  • Class Inception: 3/30/11  
  • CUSIP:  55278K104  
  • Newspaper Abbreviation: PENDING  
  • Net Assets:  $31.79 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
Equity Europe ex-U.K. 5.65% 9.09% 14.74%
  U.S. Large Cap 14.09% 0.00% 14.09%
  Emerging Markets 2.09% 11.07% 13.16%
  U.S. Small/Mid Cap 3.10% -1.03% 2.07%
  Japan 1.99% 0.00% 1.99%
  United Kingdom 1.81% -1.03% 0.78%
  North America ex-U.S. 0.48% -1.86% -1.38%
  Asia/Pacific ex-Japan 1.39% -7.06% -5.67%
      Total 39.79%

Fixed Income U.S. 15.13% 8.94% 24.07%
  North America ex-U.S. 3.12% 11.09% 14.21%
  Asia/Pacific ex-Japan 1.35% 6.40% 7.76%
  Emerging Markets 1.20% 0.00% 1.20%
  Supranational 0.05% 0.00% 0.05%
  Developed - Middle East/Africa 0.04% 0.00% 0.04%
  Europe ex-U.K. 12.27% -13.67% -1.40%
  United Kingdom 2.04% -5.74% -3.71%
  Japan 3.88% -13.22% -9.35%
      Total 32.88%

Commodity Related Commodity Related 14.98% 0.00% 14.98%
      Total 14.98%

Fixed Income (inflation-adjusted) U.S. 13.32% 0.00% 13.32%
      Total 13.32%

Real Estate Related U.S. 3.14% 0.00% 3.14%
  Non-U.S. 2.84% 0.00% 2.84%
      Total 5.98%

Cash Cash & Equivalents 3.87% 1.14% 5.00%
  Derivative Cash Equivalents 2 -8.99% -2.96% -11.95%
      Total -6.94%

  Total Net Exposure Summary 98.84%

1.16%

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.

 
Top 10 Holdings
(on 3/31/14)  
What's this?
Full & Historical Holdings
Canadian Bond 10Yr Future Jun 19 14
UST Bond 10Yr Future Jun 19 14
Aud Bond 10Yr Future Jun 16 14
FTSE MIB Index Future JUN 20 14
Hang Seng China Ent Index Future APR 29 2014
MSCI Taiwan Index Future APR 29 14
GB Govt Bond 10Yr Future Jun 26 14*
Aust SPI 200 Future JUN 19 14*
JGB 10Yr Future Jun 11 14*
Euro Bund 10Yr Future Jun 06 14*

42.14% long and 38.54% short (*) positions of total net assets
Total number of holdings: 932

15.01% of the total net assets are invested in the MFS Commodity Strategy Fund

5.4% of the total net assets are invested in the MFS Global Real Estate Fund

Currency Weights
(on 3/31/14)
United States Dollar 70.07%
Euro 17.68%
Japanese Yen 8.29%
British Pound Sterling 6.72%
Norwegian Krone 4.96%
Swedish Krona 2.23%
Hong Kong Dollar 1.91%
Brazilian Real 1.02%
Singapore Dollar 0.54%
South Korean Won 0.52%
Indian Rupee 0.31%
Taiwan Dollar 0.30%
Danish Krone 0.24%
Turkish Lira 0.22%
Mexican Peso 0.22%
Thailand Baht 0.16%
Russian Ruble 0.13%
Polish Zloty 0.08%
Thailand Offshore Rate 0.07%
Malaysian Ringgit 0.06%
Israeli Shekel 0.04%
Czech Koruna 0.04%
South African Rand 0.02%
New Zealand Dollar* -2.43%
Canadian Dollar* -3.00%
Swiss Franc* -4.37%
Australian Dollar* -6.02%
 
 

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: World Allocation
    Overall
Morningstar
RatingTM
3 yr
Morningstar
RatingTM
5 yr
Morningstar
RatingTM
10 yr
Morningstar
RatingTM
Load  
Number of funds in World Allocation: 319 319 219 126

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.

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.

 
MFS’ assessment of the risk/return potential of asset classes, markets and currencies and its adjustments to the fund’s exposure to asset classes, markets and currencies through the use of derivatives 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 investment types or have similar investment strategies.

 
The fund’s strategy to manage its exposure to asset classes, markets and currencies may not produce intended results. In addition, the hedging strategies that may be implemented by MFS that seek to limit the fund’s exposure to certain extreme market events may not work as intended, and the costs associated with such strategies will reduce the fund’s returns.

 
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.