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6 9

Global Opportunistic Bond Fund

DISCLOSURES

THIS INFORMATION IS FOR MARKETING PURPOSES ONLY

Please note that this is an actively managed product. 

Class I shares are only available to certain qualifying institutional investors.

  • Fixed Income
 LU1340703666
$ 121.33
$0.08 As of 14-Mar-25
US$582M
As of 28-Feb-25

Global Opportunistic Bond Fund

  • Fixed Income
LU1340703666
$0.08 As of 14-Mar-25
As of 28-Feb-25
  • Fixed Income
 LU1340703666
$ 121.33
$0.08 As of 14-Mar-25
$582M
As of 28-Feb-25
  • Overview

    INVESTMENT OBJECTIVE

    Seeks total return, measured in U.S. dollars.

    INVESTMENT FOCUS

    A flexible and adaptable approach to risk allocation seeks to generate attractive long-term risk-adjusted returns.

    An integrated research approach that strives to identify inefficiencies in global fixed income markets.

    Experienced portfolio management team benefits from collaborative global fixed income platform.

    Important Risk Considerations

    The fund may not achieve its objective and/or you could lose money on your investment in the fund.

    Bond: Investments in debt instruments may decline in value as the result of, or perception of, declines in the credit quality of the issuer, borrower, counterparty, or other entity responsible for payment, underlying collateral, or changes in economic, political, issuer-specific, or other conditions. Certain types of debt instruments can be more sensitive to these factors and therefore more volatile. In addition, debt instruments entail interest rate risk (as interest rates rise, prices usually fall). Therefore, the portfolio's value may decline during rising rates. Portfolios that consist of debt instruments with longer durations are generally more sensitive to a rise in interest rates than those with shorter durations. At times, and particularly during periods of market turmoil, all or a large portion of segments of the market may not have an active trading market. As a result, it may be difficult to value these investments and it may not be possible to sell a particular investment or type of investment at any particular time or at an acceptable price. The price of an instrument trading at a negative interest rate responds to interest rate changes like other debt instruments; however, an instrument purchased at a negative interest rate is expected to produce a negative return if held to maturity.

    Emerging Markets: Emerging markets can have less market structure, depth, and regulatory, custodial or operational oversight and greater political, social, geopolitical and economic instability than developed markets.

    Derivatives: Investments in derivatives can be used to take both long and short positions, be highly volatile, involve leverage (which can magnify losses), and involve risks in addition to the risks of the underlying indicator(s) on which the derivative is based, such as counterparty and liquidity risk.

    High Yield: Investments in below investment grade quality debt instruments can be more volatile and have greater risk of default, or already be in default, than higher-quality debt instruments.

    Mortgage-backed: Mortgage-backed securities can be subject to prepayment and/or extension and therefore can offer less potential for gains and greater potential for loss.

    Geographic: Because the portfolio may invest a substantial amount of its assets in issuers located in a single country or in a limited number of countries, it may be more volatile than a portfolio that is more geographically diversified.

    Please see the prospectus for further information on these and other risk considerations.

    Fund Information

    • Fund Inception 12-Jul-2016
    • Net Assets (US$ M) As of 28-Feb-25 US$582.40
    • Fiscal Year End JANUARY
    • SFDR Classification

      Article 6: Integrates sustainability risks into the investment process.

      Article 8: Systematically promotes a stated environmental or social characteristic and provides enhanced disclosure accordingly.

      Article 9: Typically for "impact" funds, which have a dual objective of financial return and specific environmental or social outcomes.
      Article 8
    • Benchmark Bloomberg Global Aggregate Index (USD Hedged)

    Share Class Information

    • Class Inception 12-Jul-2016
    • Net Asset Value (NAV) As of 14-Mar-25 $121.33
    • Most Recent NAV Change As of 14-Mar-25 $0.08 | 0.07%
    • ISIN LU1340703666
    • SEDOL BYSY5T5
    • WKN A2ACS7
    • Bloomberg MGOBI1U LX
    • CUSIP L6365X738
    • Maximum Sales Charge --
    • Benchmark Bloomberg Global Aggregate Index (USD Hedged)

    MANAGERS

    Robert Spector, CFA
    Robert Spector, CFA

    Lead Portfolio Manager

    9 YEARS WITH PORTFOLIO

    Pilar Gomez-Bravo, CFA
    Pilar Gomez-Bravo, CFA

    Lead Portfolio Manager

    9 YEARS WITH PORTFOLIO

    VIEW FULL PROFILE
    Neeraj Arora, CFA
    Neeraj Arora, CFA

    Portfolio Manager

    2 YEARS WITH PORTFOLIO

    Top 10 Holdings

    As of 28-Feb-25
    • Euro BOBL Future JUN 06 25
    • UST Bond 2Yr Future JUN 30 25
    • USD CPI 5YR RECEIVER
    • Japan Government Thirty Year Bond 2.4% DEC 20 34
    • Korea Treasury Bond 1.875% JUN 10 29
    • CNY IRS 5Yr Receiver 1.645 NOV 18 29
    • UST Bond 5Yr Future JUN 30 25
    • Korea Treasury Bond 1.375% JUN 10 30
    • Itraxx Eur Xover Ser 42 V2 Payer 325.00 MAY 21 25*
    • Euro Bund 10Yr Future MAR 06 25*
    38.52% long and 3.94% short (*) positions
    Full and Historical Holdings
    The portfolio is actively managed, and current holdings may be different.
  • Performance

    Performance

    Collapse Expand
    12 Month Total Returns

    12 Month Total Returns (%)

    12 Month Total Returns (%)

    As of 28-Feb-25 [updated monthly]
    These results represent the percent change in net asset value.
    *YTD Updated Daily as of 16-Mar-25, subject to revision and not annualized.
    12 month period ending:
    28-Feb-21
    or Life

    Life performance is only shown when 5 years of performance is not available.
    		28-Feb-22 28-Feb-23 28-Feb-24 28-Feb-25 YTD % * Class Inception
    Class I1 Shares, US Dollars at NAV 2.26 -3.36 -5.79 5.63 5.76 0.41 12-Jul-2016
    Bloomberg Global Aggregate Index (USD Hedged) 0.32 -2.19 -7.97 5.49 5.98 - -
    12 month period ending: Class I1 Shares, US Dollars at NAV
    28-Feb-21 or Life

    Life performance is only shown when 5 years of performance is not available.
    		2.26
    28-Feb-22 -3.36
    28-Feb-23 -5.79
    28-Feb-24 5.63
    28-Feb-25 5.76
    YTD % * 0.41
    Class Inception 12-Jul-2016 12-Jul-2016

    Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested. 

    Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.

    Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.

    Important Performance Information

    Class I1 Roll-Up shares do not pay distributions to shareholders. 

    Average Annual Total Returns

    Average Annual Total Returns (%)

    Average Annual Total Returns (%)

    These results represent the percent change in net asset value.
    Updated monthly as of 28-Feb-25
    *YTD Updated Daily as of 16-Mar-25, subject to revision and not annualized.
     
    Life
    2.43
    -
    10 Yr.
    -
    -
    5 Yr.
    0.79
    0.19
    3 Yr.
    1.72
    0.95
    1 Yr.
    5.76
    5.98
    1 Mo.
    1.18
    1.20
    YTD*
    0.41
    -

      Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested. 

      Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.

      Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.

      The source for all fund data is MFS. Source for benchmark performance: SPAR, FactSet Research Systems Inc.

      It is expected that the Fund’s deviation from the benchmark will be significant.

      MORNINGSTAR RATING
      Morningstar View Overall Morningstar Ratings Information
      OVERALL
      Out Of Funds
      NA
      OVERALL MORNINGSTAR RATING
      NA
      THREE YEAR
      Out Of Funds
      NA
      FIVE YEAR
      Out Of Funds
      NA
      TEN YEAR
      Out Of Funds
      NA

      Important Performance Information

      Class I1 Roll-Up shares do not pay distributions to shareholders. 

      Annual Rate of Return

      Annual Rate of Return (%)

      Annual Rate of Return (%)

      As of 31-Dec-24 Benchmark: Bloomberg Global Aggregate Index (USD Hedged)
      annual rate of return table
      Life

      Life performance as of  28-Feb-25
      		2017 2018 2019 2020 2021 2022 2023 2024
      At NAV 2.43 4.30 0.44 11.62 6.80 -1.74 -11.02 8.93 2.61
      Bloomberg Global Aggregate Index (USD Hedged) - 3.04 1.76 8.22 5.58 -1.39 -11.22 7.15 3.40
      At NAV Bloomberg Global Aggregate Index (USD Hedged)
      2024 2.61 3.4
      2023 8.93 7.15
      2022 -11.02 -11.22
      2021 -1.74 -1.39
      2020 6.8 5.58
      2019 11.62 8.22
      2018 0.44 1.76
      2017 4.3 3.04
      Life

      Life performance as of  28-Feb-25
      		2.43 -

      Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested. 

      Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.

      Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.

      Important Performance Information

      Class I1 Roll-Up shares do not pay distributions to shareholders. 

      Pricing & Distributions

      Pricing History

      • NAV at Close of Trading on:  14-Mar-25
      • Net Asset Value (NAV):  $121.33
      • Change ($) (since 13-Mar-25):  0.08
      • Change (%) (since 13-Mar-25):  0.07
      • Market Price (MP): 
      Maximum data displayed is for the most recent 10 years
      Historical NAV Lookup
      Enter date for which you wish to obtain a Historical NAV for this fund

      Historical NAV may not be available for all dates.

      Historical MP Lookup
      Enter date for which you wish to obtain a Historical MP for this fund

      Historical MP may not be available for all dates.

      Historical Exit Price Table
      NAV at Close of Trading on Net Asset Value (NAV)
      No Data Available

      Swing Pricing

      Distributions
      The Record Date is the date on which a fund declares a distribution. To receive the distribution, an investor must be a shareholder of record on that date.

      The Payable Date is the date on which the distribution is paid to shareholders.

      Dividend Rate per Share is the amount of dividend that a shareholder will receive for each share held. It can be calculated by taking the total amount of dividends paid and dividing it by the total shares outstanding.

      Dividend Reinvestment at NAV is the automatic reinvestment of shareholder dividends in more shares at net asset value.

      Ex-Dividend Date is the date on which a fund goes ex-dividend. The interval between the announcement and the payment of the next dividend. An investor must own the fund before the ex-dividend date to be eligible for the dividend payout.

      There are no distributions for this share class or distributions are currently not available
    • Portfolio & Holdings Information

      Portfolio & Holdings Information

      Portfolio characteristic data are based on unaudited net assets.

      The portfolio is actively managed, and current holdings may be different.

      • Select All
      • Holding Characteristics
      • Performance Statistics
      • Top 10 Holdings
      • Credit Quality (%)
      • Currency Weights %
      Collapse Expand
      Sector, Holding & Characterstics

      Holding Characteristics
      Average Coupon: Average Coupon is the equivalent exposure weighted coupon of all interest bearing instruments as a percent of the total equivalent exposure of all fixed income holdings, including short term and interest rate derivatives which have coupons. Coupons are netted for securities with a payable and receivable leg. Non-accruing securities are treated as having a coupon equal to zero.

      Average Effective Duration is a measure of how much a bond's price is likely to fluctuate with general changes in interest rates, e.g., if rates rise 1.00%, a bond with a 5-year duration is likely to lose about 5.00% of its value.

      Average Effective Maturity is a weighted average of maturity of the bonds held in a portfolio, taking into account any prepayments, puts, and adjustable coupons which may shorten the maturity. Longer-maturity funds are generally considered more interest-rate sensitive than shorter maturity funds.

      Yield to Worst: For fixed income securities, yield is the discount rate that equilibrates the net present value of all future cash flows to the current market value. Average Yield is the equivalent exposure weighted average yield to worst which is typically the lowest of the yields to each potential call or put or the yield to maturity, whichever is worst.

      The Average Credit Quality (ACQR) is a market weighted average (using a linear scale) of securities included in the rating categories. For all securities other than those described below, ratings are assigned utilizing ratings from Moody’s, Fitch, and Standard & Poor’s and applying the following hierarchy: If all three agencies provide a rating, the consensus rating is assigned if applicable or the middle rating if not; if two of the three agencies rate a security, the lower of the two is assigned. If none of the 3 Rating Agencies above assign a rating, but the security is rated by DBRS Morningstar, then the DBRS Morningstar rating is assigned. If none of the 4 rating agencies listed above rate the security, but the security is rated by the Kroll Bond Rating Agency (KBRA), then the KBRA rating is assigned. Other Not Rated includes other fixed income securities not rated by any rating agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change. The portfolio itself has not been rated by any rating agency. The credit quality of a particular security or group of securities does not ensure the stability or safety of an overall portfolio. The quality ratings of individual issues/issuers are provided to indicate the credit-worthiness of such issues/issuer and generally range from AAA, Aaa, or AAA (highest) to D, C, or D (lowest) for S&P, Moody’s, and Fitch respectively.

      As of 28-Feb-25
      Data table of holding characteristics
      characteristics Fixed Earning
      Number of Issues 710
      Number of Issuers 373
      Average Coupon 3.98
      Average Effective Duration 7.56 yrs
      Average Effective Maturity 9.01 yrs
      Average Credit Quality of Rated Securities A

      Performance Statistics

      Alpha is a measure of the portfolio's risk-adjusted performance. When compared to the portfolio's beta, a positive alpha indicates better-than-expected portfolio performance and a negative indicates alpha worse-than-expected portfolio performance.

      Beta is a measure of the volatility of a portfolio relative to the overall market. A beta less than 1.0 indicates lower risk than the market; a beta greater than 1.0 indicates higher risk than the market. It is most reliable as a risk measure when the return fluctuations of the portfolio are highly correlated with the return fluctuations of the index chosen to represent the market.

      Information ratio is a measure of consistency in excess return. It is calculated by taking the annualized excess return over a benchmark and dividing it by the annualized standard deviation of excess return.

      R squared represents the percentage of the portfolio's movements that can be explained by the general movements of the market.  Index portfolios will tend to have values very close to 100.  R squared is not a measure of performance.

      The Sharpe Ratio is a risk-adjusted measure calculated to determine reward per unit of risk. It uses a standard deviation and excess return. The higher the Sharpe Ratio, the better the portfolio's historical risk-adjusted performance.

      Standard Deviation is an indicator of the portfolio's total return volatility, which is based on a minimum of 36 monthly returns. The larger the portfolio's standard deviation, the greater the portfolio's volatility.

      Tracking error is the standard deviation of a portfolio's excess returns. Excess returns are a portfolio's return minus the benchmark's annualized return.

      Treynor Ratio: Treynor Ratio is a risk adjusted measure of performance. It is the ratio of the annualized excess return of the portfolio over the risk free rate for a given period divided by the Beta of the portfolio versus its benchmark for the same period. It measures the amount of excess return over the risk free rate earned per unit of systematic risk (beta) assumed.

      Upside and downside capture is a measure of how well a manager was able to replicate or improve on phases of positive benchmark returns, and how badly the manager was affected by phases of negative benchmark returns. Upside capture ratio for a portfolio is calculated by taking the portfolio's return during periods when the benchmark had a positive return and dividing it by the benchmark return during that same period. Downside capture ratio is calculated by taking the portfolio's return during the periods of negative benchmark performance and dividing it by the benchmark return for that period.

      Updated Monthly As of 28-Feb-25
      Benchmark
      Bloomberg Global Aggregate Index (USD Hedged)
      Performance Statistics Table
      10 Yr. 5 Yr. 3 Yr.
      Alpha n/a 0.61 0.65
      Beta n/a 1.21 1.16
      R-squared n/a 87.69 93.45
      Standard Deviation % n/a 6.37 7.07
      Sharpe Ratio n/a -0.28 -0.35
      Tracking Error n/a 2.46 2.04
      Information Ratio n/a 0.24 0.37
      Treynor Ratio n/a -1.47 -2.16
      Downside Capture % n/a 121.02 114.89
      Upside Capture % n/a 129.58 122.22

      Top 10 Holdings

      As of 28-Feb-25
      • Euro BOBL Future JUN 06 25
      • UST Bond 2Yr Future JUN 30 25
      • USD CPI 5YR RECEIVER
      • Japan Government Thirty Year Bond 2.4% DEC 20 34
      • Korea Treasury Bond 1.875% JUN 10 29
      • CNY IRS 5Yr Receiver 1.645 NOV 18 29
      • UST Bond 5Yr Future JUN 30 25
      • Korea Treasury Bond 1.375% JUN 10 30
      • Itraxx Eur Xover Ser 42 V2 Payer 325.00 MAY 21 25*
      • Euro Bund 10Yr Future MAR 06 25*

      38.52% long and 3.94% short (*) positions
      Full and Historical Holdings

      The portfolio is actively managed, and current holdings may be different.
      Exposures

      Credit Quality (%)

      The Average Credit Quality (ACQR) is a market weighted average (using a linear scale) of securities included in the rating categories. For all securities other than those described below, ratings are assigned utilizing ratings from Moody’s, Fitch, and Standard & Poor’s and applying the following hierarchy: If all three agencies provide a rating, the consensus rating is assigned if applicable or the middle rating if not; if two of the three agencies rate a security, the lower of the two is assigned. If none of the 3 Rating Agencies above assign a rating, but the security is rated by DBRS Morningstar, then the DBRS Morningstar rating is assigned. If none of the 4 rating agencies listed above rate the security, but the security is rated by the Kroll Bond Rating Agency (KBRA), then the KBRA rating is assigned. Other Not Rated includes other fixed income securities not rated by any rating agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change. The portfolio itself has not been rated by any rating agency. The credit quality of a particular security or group of securities does not ensure the stability or safety of an overall portfolio. The quality ratings of individual issues/issuers are provided to indicate the credit-worthiness of such issues/issuer and generally range from AAA, Aaa, or AAA (highest) to D, C, or D (lowest) for S&P, Moody’s, and Fitch respectively.

      As of 28-Feb-25
      • % of Total Net Assets
      • U.S. Government
        3.96
      • Federal Agencies
        12.64
      • AAA
        8.88
      • AA
        6.65
      • A
        21.34
      • BBB
        23.95
      • BB
        8.35
      • B
        2.72
      • CCC
        1.34
      • Other Not Rated
        10.18

      Currency Weights (%)

      As of 28-Feb-25
      • United States Dollar
        100.33
      • Chinese Renminbi
        3.31
      • Japanese Yen
        1.18
      • Norwegian Krone
        1.01
      • Uruguay Peso
        0.77
      • Iceland Krona
        0.53
      • Brazilian Real
        0.20
      • Canadian Dollar
        0.10
      • South Korean Won
        0.04
      • Hungarian Forint
        0.01
      • New Zealand Dollar
        0.00
      • Indian Rupee
        0.00
      • Australian Dollar
        0.00
      • Czech Koruna
        0.00
      • Taiwan Dollar
        0.00
      • Malaysian Ringgit
        -0.01
      • South African Rand
        -0.02
      • Swiss Franc
        -0.26
      • British Pound Sterling
        -0.30
      • Swedish Krona
        -1.03
      • Euro
        -1.08
      • Chinese Yuan Offshore (HK)
        -4.79
      Important Characteristics Information
      The portfolio is actively managed, and current holdings may be different.

      Portfolio characteristics are based on equivalent exposure, which measures how a portfolio's value would change due to price changes in an asset held either directly or, in the case of a derivative contract, indirectly. The market value of the holding may differ.

      *Short positions, unlike long positions, lose value if the underlying asset gains value.

    • Resources

      Resources

      Collapse Expand
      Product Resources

      Fact Sheets are available approximately 15 days after month end.


      Quarterly Portfolio Review is available approximately 25 days after quarter end.


      Full Holdings available approximately 25 days after month end.


      Monthly Portfolio Review available approximately 15 days after month end.


      Available approximately 15 or 25 days after month end

      Product Presentation available approximately 25 days after quarter end.


      Quarterly Investment Update available approximately 25 days after quarter end.


      Monthly Investment Update available approximately 25 days after month end.
      Fund Documents & Fact Sheets

      Fund Documents & Fact Sheets

      Click here to view fund documents such as Key Investor Documents, Complete Prospectus, Annual Report, Semi Annual Report, Swing Pricing, and Fact Sheets. Some of these documents are available in other languages.
      Product Literature

      Product Literature

      Global Opportunistic Bond Fund: A Flexible Fixed Income Approach For All Market Environments
      As of Dec 31, 2024

      A fund with a flexible approach which aims to effectively navigate a number of market environments

      A flexible approach for a changing fixed income landscape: Global Opportunistic Bond Fund
      As of Dec 31, 2024

      Sales idea focusing on MFS Meridian® Funds – Global Opportunistic Bond Fund's flexible, adaptable approach
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