Mutual Fund Summary Prospectus (497k)

 

SUMMARY PROSPECTUS December 29, 2012

 

MFS ®  Government Money Market Fund

 

Before you invest , you may want to review the fund’s prospectus, which contains more information about the fund and its risks. You can find the fund’s prospectus and other information about the fund, including the fund’s statement of additional information, online at funds.mfs.com.  You can also get this information at no cost by calling 1-800-225-2606 or by sending an e-mail request to [e-mail].  The fund’s prospectus and statement of additional information, both dated December 29, 2012, as may be supplemented from time to time, are incorporated by reference into this Summary Prospectus.

 

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Summary of Key Information

 

Investment Objective

 

The fund’s investment objective is to seek current income consistent with preservation of capital and liquidity.

 

Fees and Expenses

 

This table describes the fees and expenses that you may pay when you buy and hold shares of the fund.

 

Shareholder Fees (fees paid directly from your investment):

 

Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)		None
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less)		None

 

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):

 

Management Fee		0.40	%
Other Expenses		0.73	%
Total Annual Fund Operating Expenses		1.13	%

 

MMG-SUM-122912

 

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MFS Government Money Market Fund

 

Example

 

This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds.

 

The example assumes that: you invest $10,000 in the fund for the time periods indicated and you redeem your shares at the end of the time periods; your investment has a 5% return each year; and the fund’s operating expenses remain the same.

 

Although your actual costs will likely be higher or lower, under these assumptions your costs would be:

 

		1 YEAR			3 YEARS			5 YEARS			10 YEARS
Fund Shares		$	115		$	359		$	622		$	1,375

 

Principal Investment Strategies

 

MFS (Massachusetts Financial Services Company, the fund’s investment adviser) normally invests at least 80% of the fund’s net assets in U.S. Government money market instruments and repurchase agreements collateralized by U.S. Government securities.

 

In buying and selling investments for the fund, MFS seeks to comply with Securities and Exchange Commission rules for money market funds regarding credit quality, diversification, liquidity, and maturity. MFS stresses maintaining a stable $1.00 share price, liquidity, and income.

 

Principal Risks

 

Although the fund seeks to preserve the value of your investment at $1.00 per share, the fund may not achieve its objective and you could lose money on your investment in the fund.  An investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency.

 

The principal risks of investing in the fund are:

 

Interest Rate, Credit, and Liquidity Risk:   Although MFS seeks to maintain a stable $1.00 share price for the fund, there is no guarantee that it will be able to do so. A major increase in interest rates or a decline in the credit quality of an issuer or entity providing credit support, an inactive trading market for money market instruments, or adverse market, economic, political, regulatory, geopolitical, and other conditions could cause the fund’s share price to decrease to below $1.00.

 

Investment Selection Risk:  MFS’ investment analysis and its selection of investments may not produce the intended results and/or can lead to an investment focus that results in the fund underperforming other funds with similar investment strategies and/or underperforming the markets in which the fund invests.

 

Counterparty and Third Party Risk:   Transactions involving a counterparty or third party other than the issuer of the instrument are subject to the credit risk of the counterparty or third party, and to the counterparty’s or third party’s ability to perform in accordance with the terms of the transaction.

 

Liquidity Risk:   It may not be possible to sell certain investments, types of investments, and/or segments of the market at any particular time or at an acceptable price.

 

Performance Information

 

The bar chart and performance table below are intended to provide some indication of the risks of investing in the fund by showing changes in the fund’s performance over time.

 

The fund’s past performance does not necessarily indicate how the fund will perform in the future. Updated performance is available at mfs.com or by calling 1-800-225-2606.

 

Bar Chart.

 

 

The total return for the nine-month period ended September 30, 2012 was 0.00%. During the period(s) shown in the bar chart, the highest quarterly return was 1.19% (for the calendar quarter ended June 30, 2007) and the lowest quarterly return was 0.00% (for the calendar quarter ended March 31, 2009, quarter ended June 30, 2009, quarter ended September 30, 2009, quarter ended March 31, 2010, quarter ended June 30, 2010, quarter ended September 30, 2010, quarter ended December 31, 2010, quarter ended March 31, 2011, quarter ended June 30, 2011, quarter ended September 30, 2011, and the quarter ended December 31, 2011).

 

Performance Table.

 

Average Annual Total Returns
(for the Periods Ended December 31, 2011)

 

		1 YEAR		5 YEARS		10 YEARS
Returns Before Taxes
Shares , At Net Asset Value		0.00	%	1.25	%	1.57	%

 

Investment Adviser

 

MFS serves as the investment adviser for the fund.

 

Purchase and Sale of Fund Shares

 

You may purchase and redeem shares of the fund each day the New York Stock Exchange is open for trading. You may purchase or redeem shares either by having your financial intermediary process your purchase or redemption, or through MFS Service Center, Inc. (MFSC) by overnight mail (MFSC, c/o Boston Financial Data Services, 30 Dan Road, Canton, MA  02021-2809), by mail ([Fund Name], P.O. Box 55824, Boston, MA 02205-5824), by telephone [phone]), or via the Internet at mfs.com (MFS Access).

 

The fund’s initial and subsequent investment minimums generally are as follows:

 

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MFS Government Money Market Fund

 

Class		Initial Minimum		Subsequent Minimum
MFS Government Money Market Fund		None – automatic investment plans and certain asset-based fee programs $25 – employer-sponsored retirement plans $250 – Traditional and Roth IRAs $1,000 – other accounts		$50 – by check and non-systematic written exchange request, and via MFSC telephone representatives None – other purchases

 

Effective at the close of business on January 16, 2009, the fund was closed to all purchases except for the reinvestment of distributions.

 

Taxes

 

If your shares are held in a taxable account, the fund’s distributions are taxable to you, and will be taxed as ordinary income and/or capital gains. The fund expects that substantially all its distributions will consist of investment income taxable as ordinary income.

 

Payments to Broker/Dealers and Other Financial Intermediaries

 

If you purchase shares of the fund through a broker/dealer or other financial intermediary (such as a bank), the fund, MFS, and MFS’ affiliates may pay the financial intermediary for the sale of shares of a fund and/or the servicing of shareholder accounts. These payments may create a conflict of interest by influencing your broker/dealer or other financial intermediary and your salesperson to recommend the fund over another investment. Ask your financial intermediary or visit your financial intermediary’s Web site for more information.

 

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