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Rating:Sun Life's Chief Touts a 'Robust' Q2 for MFS Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, August 04, 2011

Sun Life's Chief Touts a 'Robust' Q2 for MFS

News summary by MFWire's editors

Sun Life Financial yesterday reported higher earnings in the U.S. in the second quarter, spurred by what CEO Donald Stewart described as "robust" performance from Boston-based asset manager MFS Investment Management.

MFS chalked up operating net income of US $68 million, up from $46 million in the year-ago period. Company officials attributed the rise mainly to "higher average net assets, which increased to US$239 billion in the second quarter of 2011 from US$191 billion in the second quarter of 2010 as a result of asset appreciation and net inflows over the past twelve months."

MFS recorded net sales of US $3.2 billion during the quarter, compared to $3.7 billion in Q2 of last year. The Wall Street Journal and Reuters also covered the earnings release. 

Edited by: Hung Tran


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