SEC Filing Summary

Sit Investment Associates Inc. and Sit Fixed Income Advisors II LLC have acquired a 9.8% stake in MFS Charter Income Trust, totaling 4,097,943 shares. These shares were acquired through open market transactions using client funds. The Sit Entities, who manage investments for their clients, have expressed opposition to the proposed reorganization plan where MFS Charter Income Trust and other funds would merge into MFS Multimarket Income Trust. They cite significant differences in investment strategy and risk profiles, particularly concerning the Acquiring Fund's potential to invest heavily in junk bonds, which they believe is not in the best interest of their clients. The Sit Entities intend to continue reviewing their investment and may engage with the Board of Trustees and shareholders regarding the Issuer's performance, strategy, and governance, including potentially nominating trustees.