Maryanne L. Roepke
About Maryanne L. Roepke
Maryanne L. Roepke, age 69, is an Independent Trustee of MFS Government Markets Income Trust (ticker: MGF) and other MFS closed‑end funds. She has served on the MFS Funds board since May 2014 and is currently a private investor; her core credentials are 30+ years of senior compliance leadership at American Century Investments, including service as Senior Vice President and Chief Compliance Officer, and governance roles at American Century SICAV, with industry committee experience through the ICI’s CCO Committee and Risk Management Advisory Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| American Century Investments, Inc. | Senior Vice President & Chief Compliance Officer | Over 30 years | Led firm-wide regulatory compliance; senior executive experience |
| American Century SICAV (mutual fund complex) | Board member | Not disclosed | Oversight of international fund governance |
| Investment Company Institute (ICI) | Member, Chief Compliance Officer Committee; Member, Risk Management Advisory Committee | Not disclosed | Industry standards and risk/compliance advisory contributions |
External Roles
| Organization | Role | Status |
|---|---|---|
| American Century SICAV | Board member | Prior role |
| Other public company boards (past 5 years) | N/A | None disclosed for Roepke |
Board Governance
- Independence: The Board has 12 Trustees, 11 are Independent; an Independent Trustee serves as Chair. All seven standing Board Committees consist exclusively of Independent Trustees .
- Attendance: The Board held six meetings in FY2024 for each Trust; each Trustee attended at least 75% of Board and applicable committee meetings .
- Election cycle: Roepke is nominated for election by common shareholders for several MFS Trusts; for certain municipal trust preferred shares, she is elected separately by preferred shareholders (one-year term) .
Committee Assignments (current)
| Committee | Meetings in FY2024 | Role | Notes |
|---|---|---|---|
| Compliance Committee | 4 | Member | Oversees Trusts’ regulatory and fiduciary compliance, adviser/provider compliance policies, and works with the Trusts’ Chief Compliance Officer |
| Services Contracts Committee | 4 | Member | Reviews transfer agency, sub‑transfer agency, administrative, and insurance services arrangements |
| Contracts Review Committee | 4 | Member | All Independent Trustees; reviews advisory, underwriting agreements, Rule 12b‑1 plans for renewals/continuation |
| Nomination & Compensation Committee | 2 | Member | All Independent Trustees; recommends trustee candidates; charter available at mfs.com |
- Not listed as Audit Committee member; the Audit Committee’s current members do not include Roepke .
Fixed Compensation
Annual trustee compensation is cash-based; no equity/option awards are disclosed for Trustees. Fiscal year end varies by Trust.
| Trust | Fiscal Year Ended | Cash Compensation (USD) |
|---|---|---|
| MFS Government Markets Income Trust (MGF) | Nov 30, 2024 | $636 |
| MFS Charter Income Trust | Nov 30, 2024 | $952 |
| MFS High Income Municipal Trust | Nov 30, 2024 | $815 |
| MFS High Yield Municipal Trust | Nov 30, 2024 | $719 |
| MFS Intermediate High Income Fund | Nov 30, 2024 | $535 |
| MFS Intermediate Income Trust | Oct 31, 2024 | $1,017 |
| MFS Investment Grade Municipal Trust | Nov 30, 2024 | $646 |
| MFS Multimarket Income Trust | Oct 31, 2024 | $941 |
| MFS Municipal Income Trust | Oct 31, 2024 | $1,075 |
| Total Trustee Compensation paid by Trust & Fund Complex (Calendar 2024; 134 funds) | 2024 | $474,500 |
- Retirement benefits accrued as part of Trust expense: Not Applicable .
Performance Compensation
- No performance‑based compensation, incentive stock, options, PSUs/RSUs, severance or change‑of‑control provisions are disclosed for Trustees; compensation appears solely cash‑based per Trust and across the fund complex .
Other Directorships & Interlocks
| Company | Role | Period | Note |
|---|---|---|---|
| Public company boards (past five years) | N/A | — | None disclosed for Roepke |
Expertise & Qualifications
- Senior compliance executive experience (SVP & CCO, American Century Investments) .
- Board governance experience (American Century SICAV) .
- Industry engagement (ICI Chief Compliance Officer Committee; Risk Management Advisory Committee) .
- Independent governance: Serves on committees comprised solely of Independent Trustees .
Equity Ownership
Board policy requires each Independent Trustee, within two years of joining, to invest an amount equal to the prior calendar year’s base retainer and meeting attendance fees in shares of MFS Funds .
| Trust | Individual Dollar Range Owned | Aggregate Dollar Range in all MFS Funds Overseen |
|---|---|---|
| MFS Government Markets Income Trust (MGF) | N (None) | D |
| MFS Charter Income Trust | A ($1–$10,000) | D |
| MFS Intermediate Income Trust | A ($1–$10,000) | D |
| Other listed MFS Trusts | N (None) | D |
- Trustees and Officers as a group owned <1% of any Trust’s outstanding shares as of July 31, 2025 .
Governance Assessment
- Strengths: Independent Trustee; deep compliance and risk oversight background; active membership across key oversight committees; independent Board leadership structure (Independent Chair); attendance ≥75% in FY2024; formal ownership alignment policy for Independent Trustees .
- Compensation: Transparent cash-only structure with no equity grants/options; complex-wide total of $474,500 for 2024; per‑Trust cash consistent with role; absence of retirement accruals reduces long‑term entanglements .
- Ownership: Meets/subject to ownership guideline; individual trust holdings modest (including none in MGF), but aggregate holdings across MFS Funds indicated by letter “D” (proxy letter scale), which supports alignment at complex level .
- Potential conflicts/related‑party transactions: None disclosed specific to Roepke in the proxy materials reviewed; committees comprised solely of Independent Trustees mitigate adviser conflicts .
- Signals for investors: Compliance expertise and committee breadth are positives for board effectiveness; independent structure and attendance support investor confidence; lack of performance‑linked pay is typical for closed‑end fund trustees and aligns with oversight role rather than management incentives .