MFS Launches Diversified Target Return Fund
2008年2月5日 - 12:12AM
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MFS Investment Management� (MFS�) announced today the launch of
MFS� Diversified Target Return Fund (DVRAX). The fund�s investment
objective is to seek a target total return that meets or exceeds
the rate of inflation over a full market cycle by five percentage
points. The fund will use an unconstrained benchmark approach,
seeking lower correlation and lower volatility relative to the
broader equity market to achieve more consistent returns through a
combination of individual security selection, top down market
allocation and active currency management. The fund will utilize a
combination of fundamental and quantitative analysis for individual
security selection within fourteen underlying sleeve portfolios
with the flexibility to invest in equities across all market
capitalizations, styles (e.g. growth, value), regions and
industries. The fund also has the ability to take short positions
and may invest in fixed income securities as well. In addition, MFS
has engaged UBS Global Asset Management (Americas) Inc. (�UBS
Global Asset Management�) as a subadvisor to the fund to actively
manage the fund�s market and currency exposures through the use of
derivatives. As a result, to meet its investment objective, the
fund will seek to generate returns from three independent sources:
individual security selection, top down market allocation and
active currency management. �The innovative approach of MFS
Diversified Target Return Fund allows active management of all the
major sources of risk and return in a portfolio, releasing some of
the investment constraints of more traditional approaches by
tactically adjusting market and currency exposures,� said James
Jessee, President of MFS Fund Distributors, Inc., the retail mutual
fund sales arm of MFS. �The fund can complement a portfolio of
traditional investments with the diversifying characteristics of a
flexible, institutional-quality, alternative investment strategy
for mutual fund investors.� UBS Global Asset Management has more
than 25 years of experience managing globally diversified, active
asset allocation portfolios for institutional and private clients.
By applying the firm�s proprietary risk/return analysis, the fund
may increase or decrease its overall exposure to certain markets or
currencies through derivatives in an effort to manage volatility
and provide more consistent returns. �We are excited to work with
MFS to bring this investment capability to its clients,� said Neil
Williams, Managing Director and Head of Asset Allocation for UBS
Global Asset Management. �The investment tools and techniques
utilized by MFS Diversified Target Return Fund, formerly accessible
to only the largest institutional investors, are now available to
virtually all investors in an affordable and liquid vehicle. This
fund should enhance their overall diversification, while managing
volatility, with the goal of more consistent returns.� The fund
will be available in multiple share classes from MFS through
financial intermediaries at insurance companies, wirehouses,
independent broker/dealers and registered investment advisors for
retail, fee-based wrap, retirement and institutional accounts.
Joseph Flaherty and Natalie Shapiro, PhD., of the MFS Quantitative
Solutions Team, will oversee MFS� individual security selection
process for the fund and will serve as lead portfolio managers for
the fund. Flaherty is Co-Director of the MFS Quantitative Solutions
Team and Portfolio Manager of the firm�s asset allocation products.
He has been with MFS since 1993 and has worked in the industry for
more than 20 years. Shapiro is a Portfolio Manager and Quantitative
Fixed Income Research Analyst. She has been with MFS since 1997 and
has worked in the field since 1986. Neil Williams and Tom Clarke
will lead the UBS Global Asset Management team responsible for
managing the market and currency exposures through derivatives.
Williams has investment strategy responsibility for all the firm�s
multi-asset funds. He has worked in the asset management industry
for 17 years, including having previously served as Chief Global
Strategist at Goldman Sachs for six years. Clarke, with 17 years
experience in the industry, is Managing Director and Head of
Currency Analysis and Strategy for UBS Global Asset Management. MFS
manages $204 billion in assets on behalf of more than 5 million
individual and institutional investors worldwide as of September
30, 2007. The company traces its origins to 1924 and the creation
of America�s first mutual fund. The fund will typically make
extensive investments in derivative instruments, including futures,
options and leveraged instruments. Derivative instruments will
increase price fluctuation. The value of the fund's investments in
derivatives may rise or fall more rapidly than other investments.
For some derivatives it is possible for a fund to lose
substantially more than the amount invested in the derivative
investment and therefore can involve leverage. The fund may invest
in foreign/emerging markets securities, which are more susceptible
to interest rate, currency exchange rate and economic, and
political risks. These risks are magnified in emerging and
developing markets. Before investing, consider the fund's
investment objectives, risks, charges, and expenses. For a
prospectus containing this and other information, contact your
investment professional or view online at mfs.com. Please read the
material carefully. MFS Fund Distributors, Inc 500 Boylston St.
Boston, MA 02116 12512.9
Mfs Global Alternative Strategy Fund Class A (MM) (NASDAQ:DVRAX)
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Mfs Global Alternative Strategy Fund Class A (MM) (NASDAQ:DVRAX)
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