Company: MMT
Filing Date: 2025-12-12
Form Type: PRE 14A
Source: 0000930413-25-003631
Chunk: 76

Company: MFS MULTIMARKET INCOME TRUST
Filing Date: 2025-12-12
Form: PRE 14A
Chunk 76
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 would decrease (on both
a Managed Asset and net asset basis) as compared to the current total annual fund operating expenses of MFM. The Trustees noted
that the proposed expense limitation agreement for each Fund would remain in place for at least two years following the consummation
of the Transaction and could only be changed with the approval of a majority of the applicable Combined Fund’s Independent
Trustees.

The Trustees
also considered the fees and expenses of each Combined Fund, each as managed Aberdeen, as compared to those of each Combined Fund
as managed by MFS, in the event that the Reorganizations are completed but the Transaction is not consummated]. The Trustees took
into account the long-term viability of the Combined Funds both as managed by Aberdeen in the event that the Transaction is consummated
and as managed by MFS, in the event that the Transaction is not consummated. Additionally, the Trustees considered the anticipated
fees and expenses of each Combined Fund in the context of Broadridge Financial Solutions, Inc. expense peer groups last reviewed
by the Trustees in connection with each Trust’s most recent contract renewal. The Trustees also evaluated the fees and expenses
of other comparable funds that MFS and Aberdeen had deemed relevant in the context of the broader Transaction and as provided in
response to the Trustees’ information request in advance of the Contract Review Meeting.

The Trustees
also noted that while the Combined Funds, as closed-end funds, would not present the opportunity for economies of scale on their
own, Aberdeen’s large platform presented opportunities for the Combined Funds to receive the benefits of economies of scale
through Aberdeen’s relationships with service providers and other operational efficiencies. Although there are no breakpoints
proposed in the advisory fee rate for MMT, the Trustees also noted Aberdeen’s representation that it would attempt to achieve
economies of scale through relationships with brokers, administrative systems and other efficiencies. The Trustees considered the
ways in which Aberdeen may be able to achieve economies of scale for the Combined Funds, but noted that there can be no assurances
that economies of scale will be achieved by Aberdeen. Under the circumstances, the Board concluded that the proposed advisory fee
for each Combined Fund is not excessive and that the advisory fee structure is appropriate.

Profitability

The Trustees
also considered information prepared by Aberdeen relating to Aberdeen’s costs and profits with respect to the Combined Funds
as well as Aberdeen’s methodologies used to determine and allocate costs to the Combined Funds. The Trustees further noted
the pro forma nature of the profitability information presented