111 Huntington Ave. |
Boston, MA 02199
Main Phone: 800-343-2829
Mutual Fund Brand(s)
MFS Mutual Funds
SEC Fund Filings by CIK
MFS established the first U.S. mutual fund -- Massachusetts Investors Trust -- in 1924, which was also the first mutual fund to register under the the Securities Act of 1933. MFS also introduced the first globally diversified fixed-income mutual fund, the first global balanced fund, and the first high-yield municipal bond fund, and launched one of the first in-house research departments in the business, in 1932.
In 1936, MFS even helped prevent Washington from adding more taxation to mutual funds.
As of summer 2015, MFS had more than 1,800 employees around the world, including more than 200 investment professionals working with more than 80 mutual funds in the U.S. alone. It has investment offices in Hong Kong, London, Mexico City, Sao Paulo, Singapore, Sydney, Tokyo, and Toronto, as well as in its Boston headquarters.
It also has the MFS Meridian Funds, more than 35 mutual funds for non-U.S. investors. It also offers its variable insurance trust (VIT) funds. And MFS launched its first institutional separate account in 1972.
Sun Life Purchase
In 1982 Sun Life Assurance Co. of Canada purchased MFS for a reported $55 million.
2003 Fund Scandals
MFS was one of more than a dozen fund complexes investigated for allowing improper trades by fund shareholders. The fund firm settled the allegations by paying $225 million in fines ($50 million) and restitution ($157 million) and reduced fees ($125 million over five years). John Ballen (CEO) and Kevin Parke (president & CIO) also resigned as part of the settlement.
In response to the issues, MFS brought in Fidelity veteran Robert Pozen as non-executive chairman to lead the effort to restore the firm's reputation.
Former portfolio manager Robert Manning took the helm as CEO in February 2004.
Possible Sale - 2006
Parent Sun Life hired bankers to shop MFS in 2006. Interested buyers included Ameriprise and T. Rowe Price, according to published reports. However, by the end of the year Sun Life took MFS off of the market.
Separately, Sun Life took over MFS' 401(k) retirement business and operated it as Sun Life Retirement Services until that business was sold to the Hartford in December 2007.
Chairman, Co-CEO, MFS Investment Management
CEO, President and Chief Investment Officer, MFS Investment Management
Co-Head of Global Distribution, President of MFS Fund Distributors, MFS Investment Management
Co-Head of Global Distribution, President of MFS Institutional Advisors, MFS Investment Management
Chief Operating Officer, MFS Investment Management
Chief Financial Officer, MFS Investment Management
General Counsel, MFS Investment Management
Chief Human Resources Officer, MFS Investment Management
Chief Investment Officer, Global Fixed Income, MFS Investment Management
Chief Investment Officer, Global Equity, MFS Investment Management
Senior Managing Director / National Accounts, MFS