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Aberdeen Multi-Market Income Fund: A Transitioning Era

On June 22, 2026, the MFS Intermediate High Income Fund (CIF) and MFS Charter Income Trust (MCR) officially transitioned into the newly branded Aberdeen Multi-Market Income Fund (MMT). This pivotal reorganization came ahead of the New York Stock Exchange's opening bell, marking the beginning of a fresh chapter in investment management for existing shareholders.

In this restructuring initiative, shareholders from the previous target funds exchanged their holdings for shares in the newly formed Aberdeen Multi-Market Income Fund. Specifically, CIF shareholders received share allocations calculated at a ratio of 0.3611, while MCR shareholders received 1.3335 shares per pre-existing share held. This ensured that the net asset value reflected the total value of each shareholder's holdings at the close of business on June 18, 2026. The valuations were set at $4.8898 for MMT and correspondingly adjusted values for CIF and MCR.

Embracing New Management

In conjunction with this reorganization, abrdn Inc. (known as Aberdeen) took the reins from MFS Investment Management as the leading investment adviser for the Fund. Consequently, the Fund's name was amended to the Aberdeen Multi-Market Income Fund, yet it continues to trade under the ticker symbol MMT on the New York Stock Exchange. Although the name has changed, the core investment objectives remain intact; the Fund aims to prioritize high current income while also focusing on potential capital appreciation.

Notably, the Board of Trustees saw a substantial change. A new board comprising Todd Reit, Nancy Yao, C. William Maher, Gordon Baird, and Christian Pittard was elected by shareholders on May 18, 2026, stepping in to oversee this transition.

Portfolio Management Transition

The management team, led by Jonathan Mondillo, Siddharth Dahiya, Anthony Merola, and George Westervelt, is set to implement a team-based approach to investments. The plan is to transition the portfolio towards an average investment-grade credit quality over the course of the next six months. This will be executed with a careful eye on maintaining market stability and minimizing disruption for shareholders. Financial strategies and policies remain unchanged, ensuring that existing investment frameworks are preserved.

With regard to risk, it is essential for investors to recognize that shares from closed-end funds can fluctuate on the secondary market based on supply and demand. They may sell for a premium or discount to the net asset value (NAV). The management team urges shareholders to remain mindful of these market dynamics, especially if they are participating in the dividend reinvestment plan, where shares may be reinvested at inflated prices compared to NAV.

About Aberdeen Investments

Aberdeen Investments, with assets under management totaling approximately $506 billion as of March 31, 2026, is a leading firm in the asset management landscape. The company oversees a diverse portfolio of closed-end funds, serving clients globally while ensuring a robust investment strategy is applied across various funds. The expertise exemplified by Aberdeen's management team is a testament to their commitment to delivering value to investors over the long term.

As Aberdeen Multi-Market Income Fund embarks on this new journey, the focus will remain on creating favorable outcomes for shareholders through a steadfast commitment to quality investment management practices.