Form 497K MFS SERIES TRUST VI
SUMMARY PROSPECTUS
February 28, 2018 (As Amended January 17, 2019)
MFS® Global Total Return Fund
Before you invest, you may want to review the
fund’s prospectus, which contains more information about the fund and its risks. You can find the fund’s prospectus and other information about the fund, including the fund’s statement of additional information, online at funds.mfs.com. You can
also get this information at no cost by calling 1-800-225-2606 or by sending an e-mail request to [email protected]. The fund’s prospectus and statement of additional information, both dated February 28, 2018, as may be amended or
supplemented from time to time, are incorporated by reference into this summary prospectus.
CLASS
|
TICKER SYMBOL
|
Class A
|
MFWTX
|
Class T1
|
N/A
|
Class B
|
MFWBX
|
Class C
|
MFWCX
|
Class I
|
MFWIX
|
Class R1
|
MFWGX
|
Class R2
|
MGBRX
|
Class R3
|
MFWHX
|
Class R4
|
MFWJX
|
Class R6
|
MFWLX
|
1 Currently not offered for sale, including in the states of Oklahoma, Nebraska, and Montana.
Beginning on January 1, 2021, as permitted by regulations adopted by the U.S. Securities and Exchange Commission, paper copies of
the fund's annual and semiannual shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports. Instead, the complete reports will be made available on the fund's Web site (funds.mfs.com), and
you will be notified by mail each time a report is posted and provided with a Web site link to access the report.
If you are already signed up to receive shareholder reports by email, you will not be affected by this change and you
need not take any action. You may sign up to receive shareholder reports and other communications from the fund by email by contacting your financial intermediary (such as a broker-dealer or bank) or, if you hold your shares directly with
the fund, by calling 1-800-225-2606 or by logging on to MFS Access at mfs.com.
Beginning on January 1, 2019, you may elect to receive all future reports in paper free of charge. Contact your
financial intermediary to request that you continue to receive paper copies of your shareholder reports. If you invest directly with the fund, you can call 1-800-225-2606 or send an email request to [email protected] to let the fund
know that you wish to continue receiving paper copies of your shareholder reports. Your election to receive reports in paper will apply to all funds held in your account if you invest through your financial intermediary or all funds held
with the MFS fund complex if you invest directly.
Summary of Key Information
Investment Objective
The fund’s investment objective is to seek total return.
Fees and Expenses
This table describes the fees and expenses that you may pay when you buy and hold shares of the fund. Investors may
also pay commissions or other fees to their financial intermediaries when they buy and hold shares of the fund, which are not reflected below. Expenses have been adjusted to reflect current fee arrangements.
You may qualify for sales charge reductions if, with respect to Class A shares, you and certain members of your family
invest, or agree to invest in the future, at least $50,000 in MFS Funds, and, with respect to Class T shares, you invest at least $250,000 in the fund. More information about these and other waivers and reductions is available from your
financial intermediary and in “Sales Charges and Waivers and Reductions” on page 11 and “Appendix A – Waivers and Reductions of Sales Charges” on page A-1 of the fund’s prospectus.
Shareholder Fees (fees paid directly from your investment):
|
||||||||||||||||||||||
|
Share Class
|
|
A
|
|
T
|
|
B
|
|
C
|
|
I
|
|
R1
|
|
R2
|
|
R3
|
|
R4
|
|
R6
|
|
|
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
|
5.75%
|
|
2.50%
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
|
Maximum Deferred Sales Charge
(Load)
(as a percentage of original purchase price or redemption proceeds, whichever is less) |
|
1.00%#
|
|
None
|
|
4.00%
|
|
1.00%
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
None
|
|
MWT-SUM-011719 Page 1 of 5
MFS Global Total Return Fund
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):
|
|
|||||||||||||||||||||
|
Share Class
|
|
A
|
|
T
|
|
B
|
|
C
|
|
I
|
|
R1
|
|
R2
|
|
R3
|
|
R4
|
|
R6
|
|
|
Management Fee
|
|
0.75%
|
|
0.75%
|
|
0.75%
|
|
0.75%
|
|
0.75%
|
|
0.75%
|
|
0.75%
|
|
0.75%
|
|
0.75%
|
|
0.75%
|
|
|
Distribution and/or Service (12b-1) Fees
|
|
0.25%
|
|
0.25%
|
|
1.00%
|
|
1.00%
|
|
None
|
|
1.00%
|
|
0.50%
|
|
0.25%
|
|
None
|
|
None
|
|
|
Other Expenses
|
|
0.18%
|
|
0.18%
|
|
0.18%
|
|
0.18%
|
|
0.18%
|
|
0.18%
|
|
0.18%
|
|
0.18%
|
|
0.18%
|
|
0.08%
|
|
|
Total Annual Fund Operating Expenses
|
|
1.18%
|
|
1.18%
|
|
1.93%
|
|
1.93%
|
|
0.93%
|
|
1.93%
|
|
1.43%
|
|
1.18%
|
|
0.93%
|
|
0.83%
|
|
|
Fee Reductions and/or Expense Reimbursements1
|
|
(0.09)%
|
|
(0.09)%
|
|
(0.09)%
|
|
(0.09)%
|
|
(0.09)%
|
|
(0.09)%
|
|
(0.09)%
|
|
(0.09)%
|
|
(0.09)%
|
|
(0.05)%
|
|
|
Total Annual Fund Operating Expenses After Fee Reductions and/or Expense Reimbursements
|
|
1.09%
|
|
1.09%
|
|
1.84%
|
|
1.84%
|
|
0.84%
|
|
1.84%
|
|
1.34%
|
|
1.09%
|
|
0.84%
|
|
0.78%
|
|
# |
This contingent deferred sales charge (CDSC) applies to shares purchased without an initial sales charge and redeemed within 18 months of
purchase.
|
1 |
Massachusetts Financial Services Company has agreed in writing to bear the fund’s expenses, excluding interest, taxes, extraordinary expenses,
brokerage and transaction costs and investment-related expenses (such as interest and borrowing expenses incurred in connection with the fund's investment activity), such that “Total Annual Fund Operating Expenses” do not
exceed 1.09% of the class' average daily net assets annually for each of Class A, Class T, and Class R3 shares, 1.84% of the class' average daily net assets annually for each of Class B, Class C, and Class R1 shares, 0.84%
of the class' average daily net assets annually for each of Class I and Class R4 shares, 1.34% of the class' average daily net assets annually for Class R2 shares, and 0.78% of the class' average daily net assets annually
for Class R6 shares. This written agreement will continue until modified by the fund's Board of Trustees, but such agreement will continue until at least February 28, 2019.
|
Example
This example is intended to help you compare the cost of investing in the fund with the cost of investing in
other mutual funds.
The example assumes that: you invest $10,000 in the fund for the time periods indicated and you redeem your
shares at the end of the time periods (unless otherwise indicated); your investment has a 5% return each year; and the fund’s operating expenses remain the same.
Although your actual costs will likely be higher or lower, under these assumptions your costs would be:
|
|
|
1 YEAR
|
|
3 YEARS
|
|
5 YEARS
|
|
10 YEARS
|
|
|
Class A Shares
|
|
$680
|
|
$920
|
|
$1,179
|
|
$1,917
|
|
|
Class T Shares
|
|
$358
|
|
$607
|
|
$874
|
|
$1,638
|
|
|
Class B Shares
assuming
|
|
|
|
|
|
|
|
|
|
|
redemption at end of period
|
|
$587
|
|
$897
|
|
$1,234
|
|
$2,052
|
|
|
no redemption at end of period
|
|
$187
|
|
$597
|
|
$1,034
|
|
$2,052
|
|
|
Class C Shares
assuming
|
|
|
|
|
|
|
|
|
|
|
redemption at end of period
|
|
$287
|
|
$597
|
|
$1,034
|
|
$2,246
|
|
|
no redemption at end of period
|
|
$187
|
|
$597
|
|
$1,034
|
|
$2,246
|
|
|
Class I Shares
|
|
$86
|
|
$287
|
|
$506
|
|
$1,135
|
|
|
Class R1 Shares
|
|
$187
|
|
$597
|
|
$1,034
|
|
$2,246
|
|
|
Class R2 Shares
|
|
$136
|
|
$444
|
|
$773
|
|
$1,705
|
|
|
Class R3 Shares
|
|
$111
|
|
$366
|
|
$640
|
|
$1,424
|
|
|
Class R4 Shares
|
|
$86
|
|
$287
|
|
$506
|
|
$1,135
|
|
|
Class R6 Shares
|
|
$80
|
|
$260
|
|
$456
|
|
$1,021
|
|
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its
portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These transaction costs, which are not reflected in “Annual Fund Operating
Expenses” or in the “Example,” affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 41% of the average value of its portfolio.
Principal Investment Strategies
MFS (Massachusetts Financial Services Company, the fund’s investment adviser) invests the fund’s assets in
equity securities and debt instruments. Equity securities include common stocks and other securities that represent an ownership interest (or right to acquire an ownership interest) in a company or other issuer. Debt instruments
include corporate bonds, foreign government securities, U.S. Government securities, asset-backed securities, and other obligations to repay money borrowed. MFS generally invests approximately 60% of the fund’s assets in equity
securities and approximately 40% of the fund's assets in debt instruments. These weightings do not reflect the fund's cash balance and can vary over time due to market movements and cash flows.
Of the fund's investments in equity securities, MFS focuses on investing the fund's assets in the stocks of
companies it believes are undervalued compared to their perceived worth (value companies).
While MFS may invest the equity portion of the fund’s assets in securities of companies of any size, MFS
primarily invests in securities of companies with large capitalizations.
MFS invests the fund’s assets in U.S. and foreign securities, including emerging market securities.
Page 2 of 5
MFS Global Total Return Fund
MFS normally invests the fund's assets across different industries, sectors, countries, and regions, but MFS may
invest a significant percentage of the fund’s assets in issuers in a single industry, sector, country, or region. MFS generally invests the fund's assets in at least three different countries and invests a percentage of the
fund's net assets in securities of foreign issuers equal to at least the lesser of 40% or the percentage of foreign issuers in the MSCI World Index (the "Index") less 15%.
Of the fund’s investments in debt instruments, MFS generally invests substantially all of these
investments in investment grade quality debt instruments.
While MFS may use derivatives for any investment purpose, to the extent MFS uses derivatives, MFS
expects to use derivatives primarily to increase or decrease exposure to a particular market, segment of the market, or security, to increase or decrease interest rate or currency exposure, or as alternatives to direct
investments. Derivatives include futures, forward contracts, options, structured securities, and swaps.
MFS uses an active bottom-up investment approach to buying and selling investments for the fund.
Investments are selected primarily based on fundamental analysis of individual issuers and instruments. Quantitative models that systematically evaluate issuers and instruments are used by certain of the fund's equity
securities portfolio managers and may also be considered by the fund's other portfolio managers.
Principal Risks
As with any mutual fund, the fund may not achieve its objective and/or you could lose money on your
investment in the fund. An investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency.
The principal risks of investing in the fund are:
Equity
Market/Company Risk: Equity markets are volatile and can decline significantly in response to, or investor perceptions of, issuer, market, economic, industry, political, regulatory, geopolitical, and other
conditions. These conditions can affect a single issuer or type of security, issuers within a broad market sector, industry or geographic region, or the equity markets in general. Certain events can have a dramatic adverse
effect on equity markets and may lead to periods of high volatility in an equity market or a segment of an equity market.
Value
Company Risk: The stocks of value companies can continue to be undervalued for long periods of time and not
realize their expected value and can be more volatile than the market in general.
Debt
Market Risk: Debt markets can be volatile and can decline significantly in response to, or investor perceptions of, issuer, market, economic, industry, political, regulatory, geopolitical, and other conditions.
These conditions can affect a single instrument, issuer, or borrower, a particular type of instrument, issuer, or borrower, a segment of the debt markets or the debt markets generally. Certain events can have a dramatic
adverse effect on debt markets and may lead to periods of high volatility and reduced liquidity in a debt market or segment of a debt market.
Interest
Rate Risk: In general, the price of a debt instrument falls when interest rates rise and rises when interest
rates fall. Interest rate risk is generally greater for instruments with longer maturities, or that do not pay current interest.
Credit
Risk: The price of a debt instrument depends, in part, on the credit quality of the issuer, borrower, counterparty, or other entity responsible for payment, or underlying collateral or assets and the terms of the
instrument. The price of a debt instrument can decline in response to changes in the financial condition of the issuer, borrower, counterparty, or other entity, or underlying collateral or assets, or changes in specific or
general market, economic, industry, political, regulatory, geopolitical, and other conditions.
Foreign
Risk: Exposure to foreign markets through issuers or currencies can involve additional risks relating to market, economic, industry, political, regulatory, geopolitical, and other conditions. These factors can make
foreign investments, especially those in emerging markets, more volatile and less liquid than U.S. investments. In addition, foreign markets can react differently to these conditions than the U.S. market.
Emerging
Markets Risk: Investments in emerging markets can involve additional and greater risks than the risks associated with investments in developed foreign markets. Emerging markets can have less developed markets, greater custody and operational risk, less developed legal, regulatory, and accounting systems, and greater political, social, and economic
instability than developed markets.
Currency
Risk: The value of foreign currencies relative to the U.S. dollar fluctuates in response to market, economic, industry, political, regulatory, geopolitical, and other conditions, and changes in currency exchange
rates impact the financial condition of companies or other issuers and may change the value in U.S. dollars of investments denominated in foreign currencies.
Focus
Risk: Issuers in a single industry, sector, country, or region can react similarly to market, currency, political, economic, regulatory, geopolitical, and other conditions, and the fund's performance will be
affected by the conditions in the industries, sectors, countries and regions to which the fund is exposed.
Prepayment/Extension
Risk: Instruments subject to prepayment and/or extension can reduce the potential for gain for the instrument’s
holders if the instrument is prepaid and increase the potential for loss if the maturity of the instrument is extended.
Derivatives
Risk: Derivatives can be highly volatile and involve risks in addition to the risks of the underlying
indicator(s) on which the derivative is based. Gains or losses from derivatives can be substantially greater than the derivatives’ original cost. Derivatives can involve leverage.
Leveraging
Risk: Leverage involves investment exposure in an amount exceeding the initial investment. Leverage can cause
increased volatility by magnifying gains or losses.
Counterparty
and Third Party Risk: Transactions involving a counterparty or third party other than the issuer of the
instrument are subject to the credit risk of the counterparty or third party, and to the counterparty’s or third party’s ability or willingness to perform in accordance with the terms of the transaction.
Liquidity
Risk: It may be difficult to value, and it may not be possible to sell, certain investments, types of
investments, and/or investments in certain segments of the market, and the fund may have to sell certain of these investments at prices or times that are not advantageous in order to meet redemptions or other cash needs.
Investment
Selection Risk: MFS' investment analysis and its selection of investments may not produce the intended results and/or can lead to an investment focus that results in the fund underperforming other funds with similar
investment strategies and/or underperforming the markets in which the fund invests.
Performance Information
The bar chart and performance table below are intended to provide some indication of the risks of
investing in the fund by showing changes in the fund’s performance over time and how the fund’s
Page 3 of 5
MFS Global Total Return Fund
performance over time compares with that of a broad measure of market performance and one or more other
measures of performance for markets in which the fund may invest.
The fund’s past performance (before and after taxes) does not necessarily indicate how the fund
will perform in the future. Updated performance is available online at mfs.com or by calling 1-800-225-2606.
Class
A Bar Chart. The bar chart does not take into account any sales charges (loads) that you may be required to pay upon purchase or redemption of the fund’s shares. If these sales charges were included, they
would reduce the returns shown.
During the period(s) shown in the bar chart, the highest quarterly return was 12.25% (for the calendar quarter ended
June 30, 2009) and the lowest quarterly return was (9.94)% (for the calendar quarter ended March 31, 2009).
Performance Table.
Average Annual Total Returns
|
||||||
(For the Periods Ended December 31, 2017)
|
|
Share Class
|
|
1 YEAR
|
|
5 YEARS
|
|
10 YEARS
|
|
|
Returns Before Taxes
|
|||||||
|
T Shares
|
|
12.29%
|
|
6.92%
|
|
5.15%
|
|
|
B Shares
|
|
10.26%
|
|
6.36%
|
|
4.78%
|
|
|
C Shares
|
|
13.31%
|
|
6.67%
|
|
4.63%
|
|
|
I Shares
|
|
15.45%
|
|
7.73%
|
|
5.68%
|
|
|
R1 Shares
|
|
14.30%
|
|
6.66%
|
|
4.63%
|
|
|
R2 Shares
|
|
14.91%
|
|
7.19%
|
|
5.16%
|
|
|
R3 Shares
|
|
15.19%
|
|
7.48%
|
|
5.42%
|
|
|
R4 Shares
|
|
15.46%
|
|
7.73%
|
|
5.68%
|
|
|
R6 Shares
|
|
15.56%
|
|
7.84%
|
|
5.73%
|
|
|
A Shares
|
|
8.52%
|
|
6.20%
|
|
4.78%
|
|
|
Returns After Taxes on Distributions
|
|
|
|
|
|
|
|
|
A Shares
|
|
7.86%
|
|
5.55%
|
|
4.10%
|
|
|
Returns After Taxes on Distributions and Sale of Fund Shares
|
|
|
|
|
|
|
|
|
A Shares
|
|
5.32%
|
|
4.77%
|
|
3.65%
|
|
|
Index Comparisons (Reflects no deduction for fees, expenses, or taxes)
|
|
|
|
|
|
|
|
|
MSCI World Index (net div)
|
|
22.40%
|
|
11.64%
|
|
5.03%
|
|
|
Bloomberg Barclays Global Aggregate Bond Index
|
|
7.39%
|
|
0.79%
|
|
3.09%
|
|
|
MFS Global Total Return Blended Index
|
|
16.20%
|
|
7.30%
|
|
4.54%
|
|
As of December 31, 2017, the MFS Global Total Return Blended Index (the "Blended Index")
consisted of the following indices and weightings: 60% MSCI World Index (net div) and 40% Bloomberg Barclays Global Aggregate Bond Index. The components and weightings of the Blended Index may have differed during the
period, and may differ in the future.
After-tax returns are calculated using the historical highest individual federal marginal income
tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your own tax situation, and may differ from those shown. The after-tax returns shown are not relevant to
investors who hold their shares through tax-advantaged arrangements, such as 401(k) plans or individual retirement accounts. The after-tax returns are shown for only one of the fund’s classes of shares, and after-tax
returns for the fund’s other classes of shares will vary from the returns shown.
Investment Adviser
MFS serves as the investment adviser for the fund.
Portfolio Manager(s)
Portfolio Manager
|
Since
|
Title
|
Nevin Chitkara
|
2006
|
Investment Officer of MFS
|
Pilar Gomez-Bravo
|
2013
|
Investment Officer of MFS
|
Steven Gorham
|
2000
|
Investment Officer of MFS
|
Vipin Narula
|
2017
|
Investment Officer of MFS
|
Robert Persons
|
2013
|
Investment Officer of MFS
|
Jonathan Sage
|
2014
|
Investment Officer of MFS
|
Robert Spector
|
2015
|
Investment Officer of MFS
|
Erik Weisman
|
2005
|
Investment Officer of MFS
|
Page 4 of 5
MFS Global Total Return Fund
Effective February 1, 2019, the above table is restated in its entirety as follows:
Portfolio Manager
|
Since
|
Title
|
Nevin Chitkara
|
2006
|
Investment Officer of MFS
|
Pilar Gomez-Bravo
|
2013
|
Investment Officer of MFS
|
Steven Gorham
|
2000
|
Investment Officer of MFS
|
Andy Li
|
February 2019
|
Investment Officer of MFS
|
Vipin Narula
|
2017
|
Investment Officer of MFS
|
Robert Persons
|
2013
|
Investment Officer of MFS
|
Jonathan Sage
|
2014
|
Investment Officer of MFS
|
Robert Spector
|
2015
|
Investment Officer of MFS
|
Erik Weisman
|
2005
|
Investment Officer of MFS
|
Purchase and Sale of Fund Shares
You may purchase and redeem shares of the fund each day the New York Stock Exchange (the
NYSE) is open for trading. You may purchase or redeem shares either by having your financial intermediary process your purchase or redemption, or through MFS Service Center, Inc. (MFSC) by overnight mail (MFSC, Suite
219341, 430 W 7th Street, Kansas City, MO 64105-1407), by mail ([Fund Name], P.O. Box 219341, Kansas City, MO 64121-9341), by telephone (1-800-225-2606), or via the Internet at mfs.com (MFS Access).
The fund’s initial and subsequent investment minimums generally are as follows:
Class
|
Initial Minimum
|
Subsequent Minimum
|
Class A, Class T, Class B, Class C
|
None – automatic investment plans and certain asset-based fee programs
$25 – employer-sponsored retirement plans
$250 – Traditional and Roth IRAs
$1,000 – other accounts
|
$50 – by check and non-systematic written exchange request, and via MFSC telephone representatives
None – other purchases
|
Class I, Class R1, Class R2, Class R3, Class R4, Class R6
|
None
|
None
|
As of the date of this prospectus, Class T shares are not being offered for sale.
Effective June 1, 2019, purchases of Class B shares are closed to new and existing investors
except through reinvestment of dividends and capital gain distributions. Existing investors may continue to exchange their Class B shares for the same share class of another MFS fund.
Taxes
If your shares are held in a taxable account, the fund’s distributions will be taxed to you
as ordinary income and/or capital gains. If your shares are held in a tax-advantaged account, you will generally be taxed only upon withdrawals from the account.
Payments to Broker/Dealers and Other Financial Intermediaries
If you purchase shares of the fund through a broker/dealer or other financial intermediary
(such as a bank), the fund, MFS, and/or MFS’ affiliates may pay the financial intermediary for the sale of shares of a fund and/or the servicing of shareholder accounts. These payments may create a conflict of
interest by influencing your broker/dealer or other financial intermediary and your salesperson to recommend the fund over another investment. Ask your financial intermediary or visit your financial intermediary’s
Web site for more information.
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