MFS GLOBAL MULTIASSET FUND C (GLMCX) Exchange: NMFQS

DELISTED - MFS (Massachusetts Financial Services Company, the fund’s investment adviser) seeks to achieve the fund’s objective by generating returns from (1) a strategic allocation to a mix of asset classes, (2) individual security selection of U.S. and foreign issuers within those asset classes, and (3) a tactical asset allocation overlay to manage the fund’s exposure to asset classes, markets, and currencies primarily using derivative instruments. In addition, MFS may use derivatives to seek to limit the fund’s exposure to certain extreme market events. Derivatives include futures, forward contracts, options, structured securities, and swaps. The fund’s performance may not be correlated with the performance of the asset classes, markets, or currencies represented by the individual investments selected by MFS. Strategic Asset Class Allocation:  MFS determines the percentages of the fund’s assets to be invested in the general asset classes of bonds and stocks, as well as in other less-traditional asset classes that MFS believes provide diversification benefits when added to a portfolio consisting of bonds and stocks, such as commodity-related investments and real estate-related investments.  As of October 1, 2017, the fund’s target strategic exposures among asset classes were as follows: 15% in inflation-adjusted debt instruments; 35% in other debt instruments; 30% in equity securities; 15% in commodity-related investments; and 5% in real estate-related investments. Debt instruments include inflation-adjusted debt instruments, corporate bonds, U.S. Government securities, foreign government securities, asset-backed securities, and other obligations to repay money borrowed.  Equity securities include common stocks and other securities that represent an ownership interest (or right to acquire an ownership interest) in a company or other issuer. MFS may invest the fund’s assets in other mutual funds advised by MFS that invest in such asset classes instead of investing directly in such assets. The strategic asset class allocations are not designed to take advantage of short-term market opportunities and have been selected for investment over longer time periods.  The strategic asset class allocations may be changed without shareholder approval or notice.  The actual strategic asset class weightings can deviate due to market movements and cash flows.  MFS periodically rebalances the fund’s strategic asset class weightings.  These target asset class weightings do not reflect the fund’s cash balance; some portion of the fund’s assets will be held in cash due to collateral requirements for the fund’s investments in derivatives, purchase and redemption activity, and other short term cash needs. Individual Security Selection: In selecting direct investments for the fund, MFS invests the fund’s assets in U.S. and foreign securities, including emerging market securities. Of the fund’s investments in debt instruments, MFS primarily invests the fund’s assets in investment grade quality debt instruments, but may also invest in below investment grade quality debt instruments. MFS generally seeks to diversify the fund’s equity investments in terms of market capitalization (e.g., small, mid, large cap), style (e.g., growth, value), and location (e.g., U.S., foreign).  These allocations may vary from time to time. MFS may invest a significant percentage of the fund’s equity investments in a single issuer or small number of issuers. While MFS may use derivatives for any investment purpose, to the extent MFS uses derivatives as part of its individual security selection process, MFS expects to use derivatives primarily to increase or decrease exposure to a particular market, segment of the market, or security, to increase or decrease interest rate or currency exposure, or as alternatives to direct investments. A team of investment professionals selects investments for the fund. MFS allocates the fund’s assets to investment professionals by investment strategy. MFS uses an active bottom-up investment approach to buying and selling investments for the fund. Investments are selected primarily based on fundamental analysis of individual issuers and instruments. Quantitative models that systematically evaluate issuers and instruments may also be considered. Tactical Asset Allocation Overlay:  MFS employs a top-down tactical asset allocation process to adjust the fund’s exposure to asset classes, markets and currencies based on its assessment of the relative attractiveness of such asset classes, markets and currencies.  MFS manages the fund’s exposure to asset classes, markets and currencies primarily through the use of derivative instruments. In managing the tactical overlay, MFS uses proprietary quantitative models and may increase or decrease the fund’s exposure to asset classes, markets and/or currencies resulting from MFS’ individual security selection based on MFS’ assessment of the risk/return potential of such asset classes, markets and/or currencies. After taking into account the tactical overlay, the fund’s exposure to the various asset classes, markets, and/or currencies may vary significantly from time to time. MFS may also expose the fund to asset classes, markets and/or currencies in which its individual security selection has resulted in no or little exposure (e.g., the high yield bond market). MFS may adjust the fund’s net exposure to asset classes, markets and/or currencies by taking net short positions in an asset class, market or currency if MFS believes the risk/return potential of such asset class, market or currency is unattractive.  Alternatively, MFS may cause the fund to take net long positions in an asset class, market or currency if MFS believes such asset class, market or currency appears attractive.  After taking into account the tactical overlay, the fund’s net exposures to the asset classes referenced below, which may include exposure to U.S. and foreign issuers, will normally fall within the following ranges: Asset Class   Range   Inflation-adjusted debt instruments   -5% to 35%   Debt instruments, excluding inflation-adjusted debt instruments   0% to 70%   Equity securities   0% to 60%   Real estate-related investments   -10% to 20%   After taking into account the tactical overlay, the fund may have significant exposure to issuers in a single sector, industry, country, or region. MFS does not currently expect to adjust the fund’s exposure to commodity-related investments. MFS’ tactical asset allocation process for the fund will typically make extensive use of derivatives.