MGF: Transforming Treasury Returns Into A 7.8% Yield [Seeking Alpha]
MFS Government Markets Income Trust (MGF)
US:NYSE Investor Relations:
mfs.com/en-us/individual-investor/product-strategies/closed-end-funds/mgf-mfs-government-markets-income-trust.html
Company Research
Source: Seeking Alpha
The CEF offers a 7.8% yield, but utilizes return on capital, eroding the initial investment over time. The fund is sensitive to lower rates due to its long duration (6.4 years), making it an appropriate vehicle for a monetary easing cycle. The CEF is comparable to the all-treasuries ETF in the long run but with a significantly higher current income due to ROC. The fund currently trades at a slight discount, potentially offering an appealing entry point. Thesis The MFS Government Markets Income ( NYSE: MGF ) fund is a fixed income closed-end management company. The vehicle falls in the rates space via its overweight Treasuries and Agency MBS allocation (those two components represent more than 90% of the fund's holdings). The fund seeks a high level of current income, and is a poster child for the CEF structure via what it actually does from a financial engineering standpoint. Since the fund does not employ any leverage, you might be asking yourself regarding the mechanics
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MGF
Sec Filings
- 4/24/24 - Form NPORT-P
- 4/10/24 - Form SC
- 2/13/24 - Form SC
- MGF's page on the SEC website