Company: CXH
Filing Date: 2025-07-28
Form Type: N-CSRS
Source: 0001683863-25-006221
Chunk: 14

Company: MFS INVESTMENT GRADE MUNICIPAL TRUST
Filing Date: 2025-07-28
Form: N-CSRS
Chunk 14
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 Statements (unaudited) - continued

The federal tax cost and the tax basis components of distributable earnings were as follows:

| As of 5/31/25                              |              |
| Cost of investments                        | $107,240,394 |
| Gross appreciation                         |    1,189,295 |
| Gross depreciation                         |   -5,545,453 |
| Net unrealized appreciation (depreciation) | $(4,356,158) |
| As of 11/30/24                             |              |
| Undistributed ordinary income              |      140,274 |
| Undistributed tax-exempt income            |      742,256 |
| Capital loss carryforwards                 |   -6,954,652 |
| Other temporary differences                |     -140,564 |
| Net unrealized appreciation (depreciation) |    1,425,257 |

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable. As of November 30, 2024, the fund had capital loss carryforwards available to offset future realized gains. These net capital losses may be carried forward indefinitely and their character is retained as short-term and/or long-term losses. Such losses are characterized as follows:

| Short-Term | $(1,635,972) |
| Long-Term  |   -5,318,680 |
| Total      | $(6,954,652) |

(3) Transactions with Affiliates Investment Adviser — The fund has an investment advisory agreement with MFS to provide overall investment management and related administrative services and facilities to the fund. The management fee is computed daily and paid monthly at an annual rate of 0.65% of the fund’s average daily net assets (including the value of preferred shares). The investment adviser has agreed in writing to reduce its management fee to 0.63% of the fund’s average daily net assets (including the value of preferred shares). This written agreement will continue until modified by the fund’s Board of Trustees, but such agreement will continue at least until November 30, 2026. For the six months ended May 31, 2025, this management fee reduction amounted to $10,738, which is included in the reduction of total expenses in the Statement of Operations. The management fee incurred for the six months ended May 31, 2025 was equivalent to an annual effective rate of 0.63% of the fund's average daily net assets (including the value of