MFS Investment Management of Boston is asking shareholders to approve the merger of the MFS Intermediate Income Fund into the MFS Limited Maturity Fund, according to a proxy statement filed with the SEC March 1. If shareholders approve the proposal at a meeting scheduled for May 18, it will mark the first fund merger for MFS since 1992, said David Oliveri, an MFS spokesperson.

Fixed-income funds had net redemptions of $5 billion last year, according to the Investment Company Institute. There were $75 billion in net sales in 1998, according to the ICI.

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