MFS Intermediate Income Trust (MIN) revises investment objective to high current income
The trust's Board of Trustees approved changes to its investment objective and policies, effective December 21, 2007. The objective moves from preserving capital and providing current income to seeking high current income, with capital appreciation as a secondary consideration, and the filing lists looser limits on investments, derivatives and maturity.
- Objective changed from "preserve capital and provide current income" to "high current income but may also consider capital appreciation", effective December 21, 2007.
- Average portfolio maturity range of 3 to 7 years changed to average portfolio life of 3 to 10 years.
- Beginning January 2008, the fund seeks a monthly distribution at a fixed rate of up to 8.50% per year.
- Percentage limits on certain investments and some derivatives limits were removed.