MFS Multimarket Income Trust Announces Completion of Reorganization, Change in Investment Adviser, and Name Change to Aberdeen Multi-Market Income Fund (MMT)

Rhea-AI Summary

Aberdeen Multi-Market Income Fund (NYSE:MMT), formerly MFS Multimarket Income Trust, completed the reorganization of MFS Intermediate High Income Fund (CIF) and MFS Charter Income Trust (MCR) on June 22, 2026. CIF and MCR shareholders received MMT shares at NAV-based exchange ratios; Aberdeen became investment adviser and a new trustee board took office. The fund keeps its ticker, CUSIP, and primary objective while transitioning to an average investment grade portfolio over about six months.

Positive

• Reorganization completed with CIF and MCR shareholders receiving MMT shares at NAV
• Fund retains primary objective of high current income with capital appreciation
• Planned transition to average investment grade credit quality over six months
• Aberdeen Global Fixed Income team assumes management using team-based approach

Negative

• Portfolio may not reflect target investment-grade credit quality during six-month transition
• Closed-end fund shares can trade at persistent discounts or premiums to NAV

News Market Reaction – MMT

+0.45%

+0.45% Session close to close

In the Jun 22 session, MMT gained 0.45%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement confirms completion of the fund reorganization into MMT, a new adviser in Aberdeen...

Analysis

This announcement confirms completion of the fund reorganization into MMT, a new adviser in Aberdeen, and a 6-month path toward average investment-grade credit quality. Key risks include execution of the transition and changes in the fund’s market discount or premium to NAV.

Key Figures

CIF exchange ratio: 0.36109198 MMT share per 1 CIF share MCR exchange ratio: 1.33352869 MMT share per 1 MCR share MMT NAV: $4.8898 per share +3 more

6 metrics

CIF exchange ratio 0.36109198 MMT share per 1 CIF share Reorganization consideration for CIF common shareholders

MCR exchange ratio 1.33352869 MMT share per 1 MCR share Reorganization consideration for MCR common shareholders

MMT NAV $4.8898 per share Acquiring fund NAV on 06/18/2026

CIF NAV $1.7657 per share Acquired fund NAV on 06/18/2026

MCR NAV $6.5207 per share Acquired fund NAV on 06/18/2026

Portfolio transition window 6 months Expected period to reach average investment-grade credit quality

Key Terms

net asset value, closed-end funds, cusip, investment grade, +1 more

5 terms

net asset value financial

"shares with a net asset value equal to the aggregate net asset value of their holdings"

Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.

View in glossary

closed-end funds financial

"Shares of closed-end funds are listed for trading on national securities exchanges"

A closed-end fund is an investment pool that raises a fixed amount of money by issuing a set number of shares, which then trade on an exchange like stocks. Unlike bank-style mutual funds that buy or sell shares on demand, its market price can sit above or below the fund’s per-share value of holdings (like a used-car market price versus the sticker price), so investors should watch both the traded price and the underlying asset value for potential bargains or risks.

cusip financial

"MFS Multimarket Income Trust | Aberdeen Multi-Market Income Fund | MMT | 552737108 |"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

View in glossary

investment grade financial

"managed to maintain an average investment grade credit quality portfolio"

A credit rating label assigned to bonds or borrowers that signals relatively low risk of default; think of it as a strong health check for a company's or government's ability to repay debt. It matters to investors because investment-grade status typically means lower interest costs for the borrower, greater eligibility for conservative funds and pension portfolios, and generally more stable returns compared with higher-risk, non-investment-grade debt.

View in glossary

emerging market debt financial

"Siddharth Dahiya, Global Head of Emerging Market Debt, Anthony Merola"

Debt issued by governments or companies in developing countries, either in a major global currency or the local currency; it includes bonds and loans used to raise money abroad. It matters to investors because it typically pays higher interest than debt from wealthier countries—like lending to a borrower with a weaker credit record—so it can boost returns but also adds risks from political change, currency swings and harder-to-sell markets.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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PHILADELPHIA, June 22, 2026 /PRNewswire/ -- The reorganization of MFS Intermediate High Income Fund (CIF) and MFS Charter Income Trust (MCR) (collectively, the "Target Funds") into MFS Multimarket Income Trust was successfully completed prior to the opening of the New York Stock Exchange on June 22, 2026.

In the reorganization, the Target Funds' common shareholders received an amount of MMT common shares with a net asset value equal to the aggregate net asset value of their holdings of the Target Funds' common shares, as determined at the close of regular business on June 18, 2026.

• CIF common shareholders received 0.36109198 of a newly issued MFM common share for every 1 share of CIF that they had previously held.
• MCR common shareholders received 1.33352869 of a newly issued MFM common share for every 1 share of MCR that they had previously held.

Relevant details pertaining to the reorganization are as follows:

Acquiring Fund	Acquired Fund	Acquiring Fund NAV per Share ($) 06/18/2026	Acquired Fund NAV per Share ($) 06/18/2026
MMT	CIF	$4.8898	$1.7657
MMT	MCR	$4.8898	$6.5207

Change in Investment Adviser and Name Change

Simultaneous with the reorganization, abrdn Inc. ("Aberdeen") assumed responsibility for the management of the former MFS Multimarket Income Trust (the "Fund") from MFS Investment Management.

In connection with the change in investment adviser, the Fund amended its declaration of trust to change its name to "Aberdeen Multi-Market Income Fund" effective simultaneous with the reorganization. The Fund's ticker symbol and CUSIP are not changing and the Fund will continue to be listed on the New York Stock Exchange ("NYSE") under the trading symbol "MMT".

Prior Fund Name	New Fund Name	Ticker	CUSIP	Website
MFS Multimarket Income Trust	Aberdeen Multi-Market Income Fund	MMT	552737108	Aberdeen Multi-Market Income Fund | Aberdeen

The Fund's prior board of trustees resigned and four new trustees of the Fund, who were elected by shareholders on May 18, 2026, contingent upon Aberdeen's appointment as manager, took office. The new trustees are Todd Reit, Nancy Yao, C. William Maher, Gordon Baird, and Christian Pittard.

The Fund's primary investment objective, which is to seek high current income but also consider capital appreciation, remains unchanged. As previously announced, the Fund will be managed to maintain an average investment grade credit quality portfolio. The Fund expects to transition the portfolio to average investment-grade in an orderly manner over the next six (6) months, with a focus on maintaining market stability and minimizing disruption to shareholders; During this time, the portfolio may not yet fully reflect the target credit quality. No other changes to the Fund's investment policies and strategies are currently anticipated. No other changes to the Fund's investment policies and strategies are currently anticipated.

Aberdeen's Global Fixed Income team will manage the Fund using a team-based approach. This team is led by Jonathan Mondillo, Global Head of Fixed Income, Siddharth Dahiya, Global Head of Emerging Market Debt, Anthony Merola, Senior Investment Manager, and George Westervelt, Head of Global High Yield.

Important Information

Shares of closed-end funds are listed for trading on national securities exchanges and are bought and sold in the secondary market. The market price of a fund's shares is determined by supply and demand and may be greater than (a "premium") or less than (a "discount") the fund's net asset value (NAV). A fund's investment return and principal value will fluctuate, and investors may receive more or less than their original investment upon the sale of shares. There is no assurance that a fund will achieve its investment objective. Past performance is not indicative of future results.

The trading price of a closed-end fund's shares may be influenced by various factors, including market conditions, investor sentiment, and other external forces, and is not directly controlled by the fund, its Board of Directors, or its investment adviser. As a result, shares may trade at a premium to or discount from NAV at any given time. A premium to NAV may not be sustained, and a discount to NAV may increase or decrease over time. Investors should consider these risks when purchasing or selling closed-end fund shares.

Shareholders whose fund shares trade at a premium to NAV and who participate in the fund's dividend reinvestment plan should be aware that distributions may be reinvested at prices above NAV, which may adversely affect investment results.

About Aberdeen Investments

Aberdeen Investments Global is the trade name of Aberdeen's investments business, herein referred to as "Aberdeen Investments" or "Aberdeen". In the United States, Aberdeen Investments refers to the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, and abrdn Asia Limited.

Aberdeen Investments is among the world's largest asset managers, with decades of experience overseeing closed-end funds dating back to the 1980s. Closed-end funds represent a core component of Aberdeen Investments' client franchise in both the U.S. and global markets. As of March 31, 2026, the firm had approximately $506 billion in assets under management, and Aberdeen and its affiliates managed 27 closed-end funds – 15 available in the U.S. and 12 outside the U.S. – totaling $25.6 billion in assets.

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SOURCE Aberdeen Multi-Market Income Fund

FAQ

What happened to MFS Multimarket Income Trust (NYSE:MMT) on June 22, 2026?

On June 22, 2026, the fund completed the reorganization of CIF and MCR into MMT and changed its name to Aberdeen Multi-Market Income Fund. According to the fund, Aberdeen also became investment adviser and a newly elected board of trustees assumed office.

How were CIF and MCR shares converted into Aberdeen Multi-Market Income Fund (MMT) shares?

CIF and MCR shareholders received MMT shares based on each fund’s net asset value as of June 18, 2026. According to the fund, CIF holders received 0.36109198 MMT share per CIF share and MCR holders received 1.33352869 MMT share per MCR share.

Did the investment objective of Aberdeen Multi-Market Income Fund (MMT) change after the reorganization?

The fund’s primary objective, seeking high current income while considering capital appreciation, remains unchanged. According to the fund, it will be managed to maintain an average investment grade credit quality portfolio, with no other changes to investment policies and strategies currently anticipated.

What is changing for MMT shareholders with Aberdeen becoming investment adviser?

Aberdeen assumed management of the fund, now called Aberdeen Multi-Market Income Fund, while the ticker MMT and CUSIP stay the same. According to Aberdeen, its Global Fixed Income team will manage the portfolio using a team-based approach focused on investment grade credit quality over time.

Will MMT’s portfolio immediately become investment grade after the June 2026 reorganization?

No, the portfolio will transition toward average investment-grade credit quality over about six months. According to the fund, this shift will be handled in an orderly manner to support market stability, and the portfolio may not fully reflect the target credit quality during this period.

Did the board of trustees change for Aberdeen Multi-Market Income Fund (NYSE:MMT)?

Yes, the prior board resigned and four new trustees, elected May 18, 2026 contingent on Aberdeen’s appointment, took office. According to the fund, the new trustees include Todd Reit, Nancy Yao, C. William Maher, Gordon Baird, and Christian Pittard.

Does the reorganization affect how MMT shares trade on the New York Stock Exchange?

MMT continues to trade on the NYSE under the existing ticker MMT and CUSIP. According to the fund, its shares remain closed-end, so market prices may trade at a premium or discount to net asset value based on supply, demand, and market conditions.