MFS Charter Income Trust
MCR
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- MFS Charter Income Trust (NYSE: MCR) is a diversified closed-end management investment company that seeks high current income and secondarily capital appreciation by investing primarily in debt instruments worldwide. The fund allocates its assets across a broad range of fixed income categories, including high yield corporate bonds, emerging markets debt, U.S. Treasuries, investment grade corporate bonds, non-U.S. sovereign debt, mortgage-backed securities, commercial mortgage-backed securities, collateralized loan obligations, asset-backed securities, residential mortgage-backed securities, municipals, and derivatives such as U.S. Treasury futures and credit default swaps for hedging; it may invest up to 100% of assets in below investment grade quality debt instruments. Managed by Massachusetts Financial Services Company (MFS), the fund employs leverage and maintains an average effective duration of approximately 5.4 years and maturity of 6.5 years across roughly 900 issues from over 540 issuers, with significant exposure to BB and B-rated securities. Founded on July 20, 1989 and headquartered in Boston, Massachusetts as part of MFS Investment Management, the trust trades on the New York Stock Exchange and targets income-oriented investors through its managed distribution plan targeting an 8% annual rate, paid monthly and potentially including return of capital. In late 2025, MFS proposed a major reorganization involving the merger of MCR, along with MFS Government Markets Income Trust (MGF), MFS Intermediate High Income Fund (MIN), and MFS Intermediate Income Trust (CIF), into MFS Multimarket Income Trust (MMT), subject to shareholder approval, as part of a broader consolidation of seven closed-end funds into two surviving entities to concentrate assets and potentially shift advisory duties. Portfolio management saw the addition of Neeraj Arora to the team effective March 31, 2023.