MFS Investment Management Announces Planned Liquidation of MFS California Municipal Fund
MFS CALIFORNIA MUNI FUND (CCA)
NASDAQ:AMEX Investor Relations:
mfs.com/en-us/individual-investor/product-strategies/closed-end-funds.html
Company Research
Source: Business Wire
BOSTON--(BUSINESS WIRE)--MFS Investment Management® (“MFS®”) announced that, at a meeting held today, the Board of Trustees of MFS® California Municipal Fund (the “fund”) (NYSE American: CCA), a closed-end management investment company, approved a plan of liquidation and termination for the fund (the "liquidation"). The liquidation is currently expected to be completed on or about October 4, 2019.In determining to terminate and liquidate the fund, the fund's investment manager, MFS, and the board considered a variety of factors. These included a request for a liquidity event made by a common shareholder holding a significant percentage of the fund's common shares; the relatively small size of the fund; the nature of the fund's portfolio holdings; and the fund's common share trading discount to net asset value (NAV). MFS and the board also considered alternatives, including merging the fund into another investment company; converting the fund to an open-end structure; or conducting
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