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MFS Intermediate Income Trust Transitions to New Management

In a strategic move aimed at enhancing its investment strategy, the MFS Intermediate Income Trust has officially transitioned its management to abrdn Inc., commonly known as Aberdeen. This change, effective from the close of the New York Stock Exchange on July 2, 2026, marks a significant shift in how the fund will operate and aims to optimize investment outcomes for its shareholders.

A Fresh Direction for the Fund

With the new management, the fund has not only changed advisers but has also updated its name to the Aberdeen Intermediate Income Fund. Despite the rebranding, the fund’s ticker symbol MIN and CUSIP number remain unchanged, ensuring continuity for existing investors. This renaming reflects Aberdeen’s commitment to managing the fund with an aim towards achieving its financial objectives efficiently.

The transition was accompanied by a significant change in the governance structure of the fund as well. The former board of trustees has stepped down, making way for a newly elected group including Todd Reit as Chair, along with members Nancy Yao, C. William Maher, Gordon Baird, and Christian Pittard. This new leadership team is poised to guide the fund under Aberdeen’s management philosophies.

Investment Approach

Aberdeen's Global Fixed Income team, recognized for its robust track record, will be in charge of the fund's investments. Leading this team are portfolio managers Bill Bellinzoni (Head of U.S. Fixed Income), Bill Hines (Investment Director for North American Fixed Income), Anthony Merola (Senior Investment Director), and Jonathan Mondillo (Global Head of Fixed Income). They are responsible for the day-to-day management of the fund, utilizing a collaborative approach to capitalize on investment opportunities.

Importantly, the fund’s investment goals and fundamental policies will remain unchanged, ensuring that its strategy continues to focus on generating income for its investors. This consistency is critical as it allows existing and new shareholders to understand what they can expect from their investments going forward.

Understanding the Market Dynamics

As with any closed-end fund, investors must be aware that the market price of shares can vary based on demand and supply dynamics. It's common for shares to trade at a price above (premium) or below (discount) the fund’s net asset value (NAV). Aberdeen emphasizes the importance of these factors as they can impact investors' overall returns and principal values.

Furthermore, shareholders who choose to participate in the fund’s dividend reinvestment plan should note that distributions may be reinvested at prices over NAV, potentially affecting investment performance negatively.

About Aberdeen Investments

Aberdeen Investments, one of the largest asset management firms globally, boasts decades of experience in overseeing closed-end funds. As of March 31, 2026, Aberdeen managed assets totaling approximately $506 billion, including 27 closed-end funds. Their expertise and commitment to excellence position them strategically to enhance the fund's performance moving forward, particularly with their historic involvement in both the U.S. and international closed-end fund markets.

As the Aberdeen Intermediate Income Fund embarks on this fresh chapter, investors and stakeholders will be observing closely how this change in management translates into performance outcomes. With a focused investment strategy and a dedicated management team, the fund aims to provide compelling income solutions for the future.