MFS Charter Income Trust · NASDAQ:XMCRX
MFS Charter Income Trust — Merger or Acquisition (February 2026)
40 slides from MFS Charter Income Trust's merger presentation, Feb 23, 2026
Slide 1: Aberdeen Multi-Market Income
Aberdeen Multi-Market Income February 2026 The following presentation outlines a fund concept presently under internal consideration with the intention of obtaining preliminary feedback on such a product. The fund concept is not available for sale and any product details discussed are reflective of
Slide 2: Contents
Contents 01 Organization overview 02 Investment team 03 Investment process 04 Appendices 2
Slide 3: Proposed summary term sheet
Proposed summary term sheet Investment objective The fund’s investment objective is to seek a high current income but may also consider capital appreciation. Investment strategy The fund normally invests at least 80% of its net assets in fixed income securities. In pursuing its investment strategy,
Slide 4: Organizational overview
Claberdeen Investments Organizational overview
Slide 5: About us
About us Our spirit is our strength By harnessing our knowledge and focusing on our core strengths, we can deliver for our clients. Aberdeen Investments is a global specialist asset manager Source: Aberdeen, 30 September 2025. Figures may appear not to add due to rounding. *Environmental, Social & G
Slide 6: Why Aberdeen Multi-Market Fixed Income?
Why Aberdeen Multi-Market Fixed Income? 1 Strong track record of consistent results in varying market conditions* 2 Experienced, skilled Fixed Income team, with full access to Aberdeen’s credit platform globally 3 Consistent and repeatable investment process 4 Risk management fully integrated into t
Slide 7: Investment team
Claberdeen Investments Investment team
Slide 8: Aberdeen Fixed Income
Aberdeen Fixed Income USD175bn* AUM 0.78 information ratio over long term in 8 key strategies across Fixed Income1 400+ Fixed Income led ESG engagements with issuers a year2 140+ investment professionals globally Source: Aberdeen, October 2025. Figures may appear not to add due to rounding. AUM figu
Slide 9: Aberdeen Investments Fixed Income structure
Aberdeen Investments Fixed Income structure Leader in global credit – public and private Specialist in emerging markets, sustainability and insurance Source: Aberdeen, October 2025 1 Approx. 45 individuals within fixed income have research responsibilities, including portfolio managers. Jonathan Mon
Slide 10: Multi-Market Income resources
Multi-Market Income resources Source: Aberdeen, October 2025. Experienced and specialised portfolio management team Leveraging a global research footprint and assets class expertise Integration and insights gathered through daily interaction and formalised meeting structures covering: FI House view
Slide 11: Investment process
Claberdeen Investments Investment process
Slide 12: Aberdeen Multi-Market Income Fund
Aberdeen Multi-Market Income Fund Identification of attractive opportunity across global fixed income Investment objectives (Diversified high yield and total return) Developed markets credit Global high yield Emerging markets debt Opportunistic Opportunity set • Global IG corporate bonds, government
Slide 13: Our approach to Multi Market Fixed Income investing
Our approach to Multi Market Fixed Income investing Invest across the fixed income universe, leveraging our integrated global investment platform Best-in-Class Sector “Building Blocks” • Sector-specialty teams manage strategies across the entire fixed income market • Bottom-up research allows team t
Slide 14: Global fixed income asset allocation process
Global fixed income asset allocation process Distilling the global economic picture through a fixed income lens Macro Environment Fixed Income Sub Asset Classes Relative Value High-quality fundamental research to evaluate the economic picture Calibrate through a Fixed Income lens Fixed Income sub-as
Slide 15: Aberdeen House View
Macro environment Fixed income sub-asset classes Relative value Aberdeen House View The House View brings together our investment expertise from across asset classes and research teams into a consistent framework. It sends high level signals on key markets over the next 12 to 18 months. Source: Aber
Slide 16: Aberdeen House View – key market signals
Macro environment Fixed income sub-asset classes Relative value Aberdeen House View – key market signals Equity markets have recovered, but there is still uncertainty over trade and fiscal policy, and a moderate economic slowdown is just beginning. The House View is signalling diversification and sm
Slide 17: Sub-asset class forecasting
Macro environment Fixed income sub-asset classes Relative value Sub-asset class forecasting Macro environment Fixed income sub-asset classes Relative value Asset class heads and senior portfolio managers provide forward-looking return estimates for their sectors Portfolio Managers project asset clas
Slide 18: Asset class estimated returns
Macro environment Fixed income sub-asset classes Relative value Asset class estimated returns Macro environment Fixed income sub-asset classes Relative value Source: Aberdeen, June 2025. Past performance does not predict future returns. Benchmarks used: US 10-Year Treasury=SGI US 10Y Bond, German 10
Slide 19: Forecasts
Macro environment Fixed income sub-asset classes Relative value Forecasts Expected return scenarios and probabilities drive asset allocation Source: Aberdeen, June 2025 Projections are offered as opinion and are not reflective of potential performance. Projections are not guaranteed and actual event
Slide 20: Asset allocation decision
Macro environment Fixed income sub-asset classes Relative value Asset allocation decision PMs use an allocator tool and combine quantitative and qualitative factors to confirm final allocation In-house tool helps generate potential allocations • By leveraging correlation matrices across multiple tim
Slide 21: Security Selection - Fundamental research and Company Note
Security Selection - Fundamental research and Company Note Combination of Fundamental / ESG / Relative Value analysis Valuations Industry analysis Company analysis Cash-flow analysis Macro backdrop Structure analysis Credit tools Covenant analysis ESG analysis Fundamental Credit Assessment “Forward
Slide 22: Company note
Company note Credit Research Note Credit Assessment Credit Trend Relative Value Low B Improving Fair Analyst Date Location (analyst) Michael Concklin 1/19/2022 US Recommendations EUR GBP USD AUD Other Equity Ticker Corporate Ticker Senior Unsecured --- (---) (---) U/W (U/W) (U/W) (U/W) Country Secur
Slide 23: Fully integrated global research resources
Fully integrated global research resources Global research tool All Research produced by Equity, Credit, Responsible Investment and Corporate Governance teams are in a Bloomberg based research portal Source: Aberdeen, Bloomberg. For illustrative purposes only. Research tools supporting focus on bott
Slide 24: Portfolio construction
Portfolio construction Active weights sized in accordance with analyst conviction levels Potential investment idea Quantify risk adjusted total return profile Scale according to strength of view Identify impact on overall portfolio Position sizing/sector exposure Factor sensitivities Duration impact
Slide 25: Risk management
Risk management Identify, measure and control risk Risk Measurement External and Internal Limits Attribution & Risk Policy Risk platform consistent with investment process Scenario based downside and upside performance estimates Client guidelines clearly understood Internal parameters set by team Fe
Slide 26: Appendices
Claberdeen Investments Appendices
Slide 27: Global Aggregate suite
Global Aggregate suite Long term track records Success underpinned through integrated global platform Ability to combined componentry to build tailored solutions Our strategies Global Bond Emerging Market Total Return Bond Global Income Bond Short Dated Enhanced Income Pooled Fund AUM $1.2bn $90m $1
Slide 28: Global Bonds: Aggregate Core Composite performance
Global Bonds: Aggregate Core Composite performance Year Composite Return Gross (%) Composite Return Net (%) Benchmark Return (%) Composite standard deviation (%) Benchmark standard deviation (%) Number of Portfolios (*throughout period) Dispersion (%) Market Value at end of Period Percentage of Firm
Slide 29: Global Bonds: Aggregate Core Composite information
Global Bonds: Aggregate Core Composite information Definition of the firm Aberdeen (or "the Firm") is defined as all portfolios managed globally by the asset management entities of Aberdeen Group plc (previously abrdn plc) excluding Private Markets, Tritax, Finimize and Platform businesses (defined
Slide 30: Emerging Markets Debt – Total Return Composite performance
Emerging Markets Debt – Total Return Composite performance Composite Emerging Market Total Return Bond Benchmark 75% JP Morgan EMBI Global Diversified, 25% JPM GBI-EM Global Diversified, prior to 21/06/21 FTSE WGBI US Base Currency USD (reported in USD) Gross Returns 30 September 2025 Year Composite
Slide 31: Emerging Markets Debt – Total Return Composite information
Emerging Markets Debt – Total Return Composite information Definition of the firm Aberdeen (or "the Firm") is defined as all portfolios managed globally by the asset management entities of Aberdeen Group plc (previously abrdn plc) excluding Private Markets, Tritax, Finimize and Platform businesses (
Slide 32: Sicav Total Return Credit Composite performance
Sicav Total Return Credit 2 Composite performance Composite Sicav Total Return Credit 2 Base Currency USD (reported in USD) Gross Returns 30 September 2025 Year Composite Return Gross (%) Composite Return Net (%) Benchmark Return (%) Composite standard deviation (%) Benchmark standard deviation (%)
Slide 33: Sicav Total Return Credit Composite information
Sicav Total Return Credit 2 Composite information Definition of the firm Aberdeen (or "the Firm") is defined as all portfolios managed globally by the asset management entities of Aberdeen Group plc (previously abrdn plc) excluding Private Markets, Tritax, Finimize and Platform businesses (defined a
Slide 34: Global Short Dated Enhanced Income Composite performance
Global Short Dated Enhanced Income Composite performance Composite Global Short Dated Enhanced Income Benchmark Bloomberg Global Aggregate Corporate (1-3 Y) (USD Hedged) Base Currency USD (reported in USD) Gross Returns 30 September 2025 Year Composite Return Gross (%) Composite Return Net (%) Bench
Slide 35: Global Short Dated Enhanced Income Composite information
Global Short Dated Enhanced Income Composite information Definition of the firm Aberdeen (or "the Firm") is defined as all portfolios managed globally by the asset management entities of Aberdeen Group plc (previously abrdn plc) excluding Private Markets, Tritax, Finimize and Platform businesses (de
Slide 36: Why Aberdeen: CEF transaction experience
Why Aberdeen: CEF transaction experience Aberdeen is extremely experienced in the execution of CEF transactions: • Our goal is to make any transaction as seamless as possible for the Board and shareholders • Our U.S. closed-end fund business has been developed through IPO and secondary market fund r
Slide 37: Why Aberdeen: U.S. closed-end funds
Why Aberdeen: U.S. closed-end funds • 15 U.S. closed-end funds with AUM $9.4bn. • Closed-end funds viewed as a core area of U.S. business now and in the future. • Actively seek growth and new business opportunities in closed-end fund sector via organic and inorganic means: • Onboarded 28 closed-end
Slide 38: We are Aberdeen Investments
Our spirit is our strength We are Aberdeen Investments For over a century, we’ve been investing with a certain spirit. The spirit of Scotland. Discover the spirit that makes us the company we are. USD 516bn AUM >600 Investment professionals >25 Locations worldwide Source: Aberdeen, 30 September 2025
Slide 39: Important Information
Important Information This presentation is for informational purposes only, and is not intended as an offer or recommendation with respect to the purchase or sale of any security, option, future or other derivatives in such securities. The Fund’s adviser, one of its affiliated advisers, or its emplo
Slide 40: Important Information
Important Information The amount of income received by the Fund will go up or down depending on day-to-day variations in short-term interest rates, and when interest rates are very low the Funds expenses could absorb all or a significant portion of the Fund’s income. Investments in asset backed and
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