MFS Investment Management, formerly known as Massachusetts Financial Services, is an American-based global investment manager. The company was founded in 1924 and is headquartered in Boston, with research offices worldwide and nearly $500 billion in assets under management. MFS is recognised as one of the oldest asset management companies in the world and is credited with pioneering the first mutual fund in America, the Massachusetts Investors Trust fund. Over the years, MFS has expanded its offerings and reorganised its structure, reflecting its broadened scope of products and services. The company was acquired by Sun Life Financial of Canada in 1982 and continues to be a successful and enduring partnership.
Characteristics | Values |
---|---|
Full Form | Massachusetts Financial Services |
Founded | 1924 |
Founders | Sherman Adams, Charles H. Learoyd, Ashton L. Carr |
Headquarters | Boston |
No. of Employees | 1,500 |
Assets Under Management | $417 billion |
Oldest Fund | Massachusetts Investors Trust |
Parent Company | Sun Life Financial |
Services | Variable Insurance, Closed-End Funds, Institutional Trusts, 529 College Planning |
Clients | Institutional Clients, Pooled Investment Vehicles |
Investment Philosophy | Long-Term, Active Management, Engagement with Portfolio Companies |
What You'll Learn
- MFS Investment Management is a global investment manager, formerly known as Massachusetts Financial Services
- The company was founded in 1924 and is one of the oldest asset management companies in the world
- MFS offers a wide range of investment services and products to institutional investors and investment professionals
- The company has a family of more than 80 U.S. mutual funds and offers separate account portfolio management for institutional investors
- MFS takes a long-term approach to investing and believes that markets are fundamentally inefficient
MFS Investment Management is a global investment manager, formerly known as Massachusetts Financial Services
MFS Investment Management, formerly known as Massachusetts Financial Services, is an American-based global investment manager. Founded in 1924, it is one of the oldest asset management companies in the world and has been credited with pioneering the mutual fund.
The company was founded in 1924 by Sherman Adams, Charles H. Learoyd and Ashton L. Carr. The company's oldest fund is the Massachusetts Investors Trust, a mutual fund created with $50,000 at the company's inception and reported to be "the world's first open-end investment fund". The company used "brokerage channels" to market its shares to the public and later expanded to $14 million in assets over the next five years.
During the stock market crash of 1929, the fund survived an 83% loss and went on to create a second fund in 1934. By 1959, the Massachusetts Investors Trust fund had become the largest mutual fund in the United States.
In 1969, the company was reorganized as Massachusetts Financial Services (MFS) to reflect its broadened scope of products and services. Over the years, MFS has continued to innovate and expand its offerings, including launching one of the nation's first national municipal bond funds in 1976 and the country's first globally diversified fixed-income fund in 1981.
MFS Investment Management is now a global firm with research offices worldwide and nearly $500 billion in assets under management. The company offers a wide range of investment services and products to institutional investors and investment professionals, including mutual funds, variable insurance, closed-end funds, institutional trusts and 529 college planning.
MFS takes a long-term approach to investing and emphasizes active management and engagement with portfolio companies and issuers. The company believes that the markets are fundamentally inefficient and relies on integrated research to determine opportunities to create value. MFS tracks investments in more than 80 countries and uses its global research platform to facilitate collaboration between its investment teams.
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The company was founded in 1924 and is one of the oldest asset management companies in the world
MFS Investment Management, formerly known as Massachusetts Financial Services, was founded in 1924 and is one of the oldest asset management companies in the world. The company was founded by Sherman Adams, Charles H. Learoyd, and Ashton L. Carr.
MFS was founded on the idea of creating a new and groundbreaking investment vehicle that would give investors of modest means a transparent and affordable path to financial success. On March 21, 1924, MFS established the Massachusetts Investors Trust (MIT), the first US open-end mutual fund, revolutionizing the industry and opening the door to investing for millions of everyday investors. The company's oldest fund, the Massachusetts Investors Trust, was created with $50,000 in capital at the company's inception and is reported to be "the world's first open-end investment fund".
MFS has a long history of pioneering innovations in the financial industry. In the early years, the company marketed its shares to the public through "brokerage channels" and expanded its assets to $14 million in the following five years. During the stock market crash of 1929, the fund survived an 83% loss and demonstrated its resilience by consistently paying dividends to investors during the Great Depression. MFS established one of the first in-house research departments, led by industry pioneer Dwight Robinson, and created new industry practices such as statistical analysis, company facility tours, and meetings with company leadership.
Over the years, MFS has continued to grow and expand its offerings. By 1959, the Massachusetts Investors Trust fund had become the largest mutual fund in the United States. In 1969, the company was reorganized as Massachusetts Financial Services to reflect its broadened scope of products and services. The company was acquired by Sun Life Financial of Canada in 1982 and continues to be owned by this publicly traded financial services company.
Today, MFS Investment Management is a global asset management firm headquartered in Boston with research offices worldwide. The company has approximately 1,500 employees and nearly $500 billion in assets under management. MFS offers a wide range of investment services and products to institutional investors and investment professionals, including mutual funds, variable insurance, closed-end funds, institutional trusts, and 529 college planning. The firm's investment philosophy emphasizes a long-term approach, active management, and engagement with portfolio companies and issuers.
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MFS offers a wide range of investment services and products to institutional investors and investment professionals
MFS Investment Management, formerly known as Massachusetts Financial Services, is an American-based global investment manager. It was founded in 1924 and is one of the oldest asset management companies in the world. MFS offers a diverse range of investment services and products tailored to meet the needs of institutional investors and investment professionals.
The company has a long history of innovation in the investment industry, including the creation of the first US open-end mutual fund, the Massachusetts Investors Trust (MIT). This fund revolutionized investing by providing millions of everyday investors with access to the markets. Over the years, MFS has continued to expand and enhance its offerings, establishing itself as a leader in the industry.
MFS offers a comprehensive suite of investment services and products, including:
- Mutual Funds: MFS has a family of over 80 US mutual funds, providing diverse investment options for clients.
- Variable Insurance: The company offers variable insurance products, allowing clients to tailor their insurance coverage according to their needs.
- Closed-End Funds: MFS provides closed-end funds as an alternative investment option for clients seeking diversified portfolios.
- Institutional Trusts: These trusts are designed for institutional clients, such as pension plans, charitable organizations, and sovereign wealth funds, offering tailored investment solutions.
- 529 College Planning: MFS assists clients in planning and investing for their children's education through specialized 529 plans.
- Separate Account Portfolio Management: The company offers separate account portfolio management for institutional investors, overseeing both equity and fixed-income assets.
- Fixed Income Solutions: MFS provides active fixed-income solutions, such as the MFS® Total Return Fund, offering investors access to money market and bond funds.
- Global Investment Management: With research offices worldwide, MFS offers global investment management services, utilizing its global research platform for collaboration between international investment teams.
- Municipal Bond Funds: MFS was instrumental in providing small investors with access to municipal bond funds, allowing them to benefit from the tax-exempt features of bonds issued by state and local governments.
MFS's investment philosophy emphasizes a long-term approach, active management, and engagement with portfolio companies. The company believes in the fundamental inefficiency of markets and utilizes integrated research to identify investment opportunities. With a century of experience and a commitment to innovation, MFS offers a diverse range of investment services and products to meet the needs of institutional investors and investment professionals.
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The company has a family of more than 80 U.S. mutual funds and offers separate account portfolio management for institutional investors
MFS Investment Management, formerly known as Massachusetts Financial Services, is an American-based global investment manager. It was founded in 1924 and is one of the oldest asset management companies in the world. MFS pioneered the mutual fund with the Massachusetts Investors Trust fund, which is still in operation today.
MFS has a long history of innovation in the investment industry. In addition to creating the first US open-end mutual fund, the company was also instrumental in the passing of the Revenue Act of 1936 and the Investment Company Act of 1940, which remains a pillar of financial regulation in the US. Over the years, MFS has continued to expand its offerings and services, including the launch of the first US global fixed-income mutual fund.
Today, MFS Investment Management offers a diverse range of investment services and products to institutional investors and investment professionals. The company has a family of more than 80 US mutual funds, providing a wide range of investment options for its clients. These funds are managed by small teams within MFS, ensuring dedicated expertise and focus for each fund's holdings.
In addition to its mutual funds, MFS also offers separate account portfolio management for institutional investors. This service is tailored for institutional clients, including US and foreign corporations, governmental bodies, foundations, charitable organizations, and university endowments. MFS's separate account portfolio management service provides customized investment strategies and solutions for these institutional clients, helping them to achieve their financial goals and objectives.
MFS's separate account portfolio management service offers both equity and fixed-income asset management. The company's investment philosophy emphasizes active management and engagement with portfolio companies and issuers. With a long-term approach to investing, MFS aims to improve investment outcomes and create long-term value for its clients. The company's global reach and research capabilities enable it to track investments in over 80 countries and facilitate collaboration between its investment teams worldwide.
MFS's separate account portfolio management service typically requires an account minimum of $50 million for institutional clients. The exact fees charged are negotiable and depend on the specific investment mandate and strategy employed. MFS's fees are a percentage of average month-end assets, with different rates for various investment types.
With its extensive history, innovative spirit, and commitment to creating long-term value, MFS Investment Management has established itself as a leading global investment manager, offering a comprehensive range of services, including its family of over 80 US mutual funds and separate account portfolio management for institutional investors.
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MFS takes a long-term approach to investing and believes that markets are fundamentally inefficient
MFS Investment Management, formerly known as Massachusetts Financial Services, is an American-based global investment manager that takes a long-term approach to investing. The company was founded in 1924 and is one of the oldest asset management companies in the world. MFS offers a wide range of investment services and products to institutional investors and investment professionals, including mutual funds, variable insurance, closed-end funds, institutional trusts, and 529 college planning. The company has a family of more than 80 U.S. mutual funds and has been credited with pioneering the first mutual fund, the Massachusetts Investors Trust fund, which is still in operation today.
MFS's investment philosophy emphasizes active management focused on improving investment outcomes and active engagement with portfolio companies and issuers. The company believes that markets are fundamentally inefficient and, therefore, relies on integrated research when making investment decisions. By tracking investments in over 80 countries and utilizing its global research platform, MFS facilitates collaboration between its investment teams worldwide. This collaborative approach allows MFS to develop local market perspectives and drive uncompromised information sharing across sectors, geographies, and asset classes.
MFS's long-term approach to investing is evident in its commitment to collective expertise, risk management, and long-term discipline. The company engages with the companies it owns to understand their long-term value and uses its voting power to influence issues that matter. MFS also promotes diversity and collaboration within its teams, encouraging the sharing and debating of unique perspectives to build conviction in its investment ideas.
Furthermore, MFS prioritizes risk management by fostering a risk-aware culture where risk plays a central role in decision-making. The company integrates ESG issues into its robust research to identify and mitigate material risks to a company's competitive advantage. MFS also practices capacity management, closing strategies when they believe they are at capacity to protect long-term performance for its clients.
MFS's long-term discipline is rooted in its heritage and is driven by its purpose to create long-term value responsibly. This discipline involves conviction and longer time horizons, made possible by robust research and the confidence to let their thesis play out. MFS favors ESG integration and engagement and prioritizes continuity and succession planning to develop talent and plan for future generations of leadership and investment teams.
In summary, MFS Investment Management's long-term approach to investing is characterized by its commitment to collective expertise, risk management, and long-term discipline. The company's belief in the fundamental inefficiency of markets guides its investment philosophy and decision-making processes. By prioritizing active management, engagement, and integrated research, MFS strives to create long-term value for its clients.
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Frequently asked questions
MFS stands for Massachusetts Financial Services, the former name of MFS Investment Management.
MFS Investment Management is a global investment manager that offers investment services and products to institutional investors and investment professionals.
Founded in 1924, MFS Investment Management is one of the oldest asset management companies in the world. It was originally called Massachusetts Financial Services Company and was renamed MFS Investment Management in 1996. The company was purchased by Sun Life Financial of Canada in 1982 and is still owned by them today.
MFS Investment Management takes a long-term approach to investing, emphasizing active management and engagement with portfolio companies and issuers. They believe that the markets are fundamentally inefficient and rely on integrated research to determine opportunities to create value.