INVESTMENT OBJECTIVE
Seeks capital appreciation
INVESTMENT FOCUS
Consistent focus on small- and mid-sized companies globally.
Focuses on investing in companies that generate consistent, above-average earnings growth and durably high returns on capital while maintaining a rigorous valuation discipline.
Fund Information
- Fund Commencement 12/16/11
- Net Assets ($ M) As of 04/30/24 $72.64
- Fiscal Year End AUGUST
-
Benchmark
The MSCI All Country World Small Mid Cap Index is a free float weighted index that is designed to measure equity market performance of small and mid cap companies across global developed and emerging market countries.MSCI All Country World Small Mid Cap Index (net div)
Share Class Information
- Class Inception 12/16/11
- Net Asset Value (NAV) As of 05/17/24 $22.45
- Most Recent NAV Change As of 05/17/24 $0.01 | 0.04%
- Fund Number 1053
- Maximum Sales Charge 5.75%
-
Gross Expense Ratio
1.78%
Gross Expense Ratio: The Gross Expense Ratio is the fund's total operating expense ratio from the fund's most recent prospectus.
-
Net Expense Ratio
1.35%
Net Expense Ratio: The Net Expense Ratio reflects the reduction of expenses from contractual fee waivers and reimbursements. Elimination of these reductions will result in higher expenses and lower performance.
These reductions will continue until at least 12/31/24
MANAGERS
Top 10 Holdings
- Cranswick PLC
- Howmet Aerospace Inc
- Westinghouse Air Brake Technologies Corp
- ICON PLC
- NS Solutions Corp
- GFL Environmental Inc
- Melrose Industries PLC
- AUB Group Ltd
- Euronext NV
- Jacobs Solutions Inc
Important Risk Considerations
The fund may not achieve its objective and/or you could lose money on your investment in the fund.
Stock: Stock markets and investments in individual stocks are volatile and can decline significantly in response to or investor perception of, issuer, market, economic, industry, political, regulatory, geopolitical, environmental, public health, and other conditions.
International: Investments in foreign markets can involve greater risk and volatility than U.S. investments because of adverse market, currency, economic, industry, political, regulatory, geopolitical, or other conditions.
Mid-cap: Investments in mid-cap companies can be more volatile than investments in larger companies.
Small-cap: Investments in small-cap companies can be more volatile than investments in larger companies.
Please see the prospectus for further information on these and other risk considerations.
Eric Braz, CFA
Portfolio Manager
Eric J. Braz, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). As a member of the portfolio management team of the MFS® Global Small-Mid Cap and MFS® US Mid Cap Growth strategies, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the research process and strategy discussions. Eric joined MFS in 2007 as an equity research analyst following his participation in the firm's Summer MBA Internship program in 2006. He assumed his portfolio management responsibilities in 2020. Before joining the firm, he served as a consultant for Bates White, LLC, working in the firm's corporate finance and environmental and product liabilities practices for three years in Washington, D.C. Eric earned a Bachelor of Science degree from Pennsylvania State University and a Master of Business Administration degree from the University of Chicago Booth School of Business, where he was a Robert Toigo Foundation Fellow. He holds the Chartered Financial Analyst (CFA) designation from the CFA Institute.
Peter Fruzzetti
Portfolio Manager
Peter Fruzzetti is an investment officer and equity portfolio manager for the International New Discovery, European Smaller Companies and Global New Discovery strategies at MFS Investment Management® (MFS®). In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the research process and strategy discussions. He is based in London. Peter joined MFS in 2000 as an equity research analyst and assumed his current role in 2004. Prior to joining MFS, he worked for Fidelity Investments for six years, serving as an equity research analyst and select portfolio manager. He began his career in the financial services industry in 1993. Peter earned his Bachelor of Science degree in finance from Boston College.
Michael Grossman, CFA
Portfolio Manager
Michael S. Grossman, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®).
Before joining MFS in 2005, Michael spent three years as a research analyst following small and mid-cap commercial services and transportation companies for Essex Investment Management Co., LLC as well as three years as an investment associate in large-cap global equity research for Putnam Investments.
Michael earned his bachelor's degree from the University of Pennsylvania and holds an MBA from Boston College. He is a member of the CFA Institute and the Boston Society of Securities Analysts Society, Inc.
Our portfolio managers are supported by our entire team of investment professionals in nine worldwide offices. The team employs a proprietary investment process to build better insights for our clients. The core principles of our approach are integrated research, global collaboration, and active risk management.
Sandeep Mehta
Portfolio Manager
Sandeep Mehta is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). As a member of the portfolio management teams for MFS' European Small Cap Equity and Global Small-Mid Cap strategies, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the research process and strategy discussions.He is based in London. Sandeep joined MFS in 2008 as a research analyst and was named portfolio manager in 2016. Before joining the firm, he was an equity research analyst with Henderson Global Investors. He also served as a software engineer with eTouch Systems for two years and with Verisign for two years, as well as working as an associate consultant at CITIL for two years. Sandeep earned a Bachelor of Science degree from the Indian Institute of Technology (BHU) and holds a Master of Business Administration degree from the London Business School.
Performance
Average Annual Total Returns (%)
Important Performance Information
Sales Charges
Class A shares ("A") results include the maximum sales charge.
Annual Rate of Return (%)
As of 12/31/23 | Benchmark: MSCI All Country World Small Mid Cap Index (net div)| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|
| At NAV | -6.24 | 2.19 | 6.59 | 29.42 | -8.56 | 30.27 | 23.59 | 11.86 | -27.07 | 18.15 |
| With Sales Charge | -11.63 | -3.68 | 0.46 | 21.98 | -13.82 | 22.78 | 16.48 | 5.43 | -31.26 | 11.36 |
| MSCI All Country World Small Mid Cap Index (net div) | 3.17 | -1.34 | 9.26 | 24.18 | -13.80 | 25.37 | 15.67 | 16.23 | -18.72 | 16.02 |
| At NAV | With Sales Charge | MSCI All Country World Small Mid Cap Index (net div) | |
|---|---|---|---|
| 2023 | 18.15 | 11.36 | 16.02 |
| 2022 | -27.07 | -31.26 | -18.72 |
| 2021 | 11.86 | 5.43 | 16.23 |
| 2020 | 23.59 | 16.48 | 15.67 |
| 2019 | 30.27 | 22.78 | 25.37 |
| 2018 | -8.56 | -13.82 | -13.8 |
| 2017 | 29.42 | 21.98 | 24.18 |
| 2016 | 6.59 | 0.46 | 9.26 |
| 2015 | 2.19 | -3.68 | -1.34 |
| 2014 | -6.24 | -11.63 | 3.17 |
Pricing History
- NAV at Close of Trading on: 05/17/24
- Net Asset Value (NAV): $22.45
- Change ($) (since 05/16/24 ): 0.01
- Change (%) (since 05/16/24 ): 0.04
- Market Price (MP):
Historical NAV may not be available for all dates.
Historical MP may not be available for all dates.
-
Overview
INVESTMENT OBJECTIVE
Seeks capital appreciation
INVESTMENT FOCUS
Consistent focus on small- and mid-sized companies globally.
Focuses on investing in companies that generate consistent, above-average earnings growth and durably high returns on capital while maintaining a rigorous valuation discipline.
Fund Information
- Fund Commencement 12/16/11
- Net Assets ($ M) As of 04/30/24 $72.64
- Fiscal Year End AUGUST
-
Benchmark
The MSCI All Country World Small Mid Cap Index is a free float weighted index that is designed to measure equity market performance of small and mid cap companies across global developed and emerging market countries.MSCI All Country World Small Mid Cap Index (net div)
Share Class Information
- Class Inception 12/16/11
- Net Asset Value (NAV) As of 05/17/24 $22.45
- Most Recent NAV Change As of 05/17/24 $0.01 | 0.04%
- Fund Number 1053
- Maximum Sales Charge 5.75%
-
Gross Expense Ratio
1.78%
Gross Expense Ratio: The Gross Expense Ratio is the fund's total operating expense ratio from the fund's most recent prospectus.
-
Net Expense Ratio
1.35%
Net Expense Ratio: The Net Expense Ratio reflects the reduction of expenses from contractual fee waivers and reimbursements. Elimination of these reductions will result in higher expenses and lower performance.
These reductions will continue until at least 12/31/24
MANAGERS
Top 10 Holdings
As of 04/30/24- Cranswick PLC
- Howmet Aerospace Inc
- Westinghouse Air Brake Technologies Corp
- ICON PLC
- NS Solutions Corp
- GFL Environmental Inc
- Melrose Industries PLC
- AUB Group Ltd
- Euronext NV
- Jacobs Solutions Inc
Important Risk Considerations
The fund may not achieve its objective and/or you could lose money on your investment in the fund.
Stock: Stock markets and investments in individual stocks are volatile and can decline significantly in response to or investor perception of, issuer, market, economic, industry, political, regulatory, geopolitical, environmental, public health, and other conditions.
International: Investments in foreign markets can involve greater risk and volatility than U.S. investments because of adverse market, currency, economic, industry, political, regulatory, geopolitical, or other conditions.
Mid-cap: Investments in mid-cap companies can be more volatile than investments in larger companies.
Small-cap: Investments in small-cap companies can be more volatile than investments in larger companies.
Please see the prospectus for further information on these and other risk considerations.
Eric Braz, CFA
Portfolio Manager
20YEARS WITH INDUSTRY
4YEARS WITH PORTFOLIOEric J. Braz, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). As a member of the portfolio management team of the MFS® Global Small-Mid Cap and MFS® US Mid Cap Growth strategies, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the research process and strategy discussions. Eric joined MFS in 2007 as an equity research analyst following his participation in the firm's Summer MBA Internship program in 2006. He assumed his portfolio management responsibilities in 2020. Before joining the firm, he served as a consultant for Bates White, LLC, working in the firm's corporate finance and environmental and product liabilities practices for three years in Washington, D.C. Eric earned a Bachelor of Science degree from Pennsylvania State University and a Master of Business Administration degree from the University of Chicago Booth School of Business, where he was a Robert Toigo Foundation Fellow. He holds the Chartered Financial Analyst (CFA) designation from the CFA Institute.
Peter Fruzzetti
Portfolio Manager
31YEARS WITH INDUSTRY
12YEARS WITH PORTFOLIOPeter Fruzzetti is an investment officer and equity portfolio manager for the International New Discovery, European Smaller Companies and Global New Discovery strategies at MFS Investment Management® (MFS®). In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the research process and strategy discussions. He is based in London. Peter joined MFS in 2000 as an equity research analyst and assumed his current role in 2004. Prior to joining MFS, he worked for Fidelity Investments for six years, serving as an equity research analyst and select portfolio manager. He began his career in the financial services industry in 1993. Peter earned his Bachelor of Science degree in finance from Boston College.
Michael Grossman, CFA
Portfolio Manager
25YEARS WITH INDUSTRY
10YEARS WITH PORTFOLIOMichael S. Grossman, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®).
Before joining MFS in 2005, Michael spent three years as a research analyst following small and mid-cap commercial services and transportation companies for Essex Investment Management Co., LLC as well as three years as an investment associate in large-cap global equity research for Putnam Investments.
Michael earned his bachelor's degree from the University of Pennsylvania and holds an MBA from Boston College. He is a member of the CFA Institute and the Boston Society of Securities Analysts Society, Inc.
Our portfolio managers are supported by our entire team of investment professionals in nine worldwide offices. The team employs a proprietary investment process to build better insights for our clients. The core principles of our approach are integrated research, global collaboration, and active risk management.
Sandeep Mehta
Portfolio Manager
17YEARS WITH INDUSTRY
4YEARS WITH PORTFOLIOSandeep Mehta is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). As a member of the portfolio management teams for MFS' European Small Cap Equity and Global Small-Mid Cap strategies, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the research process and strategy discussions.He is based in London. Sandeep joined MFS in 2008 as a research analyst and was named portfolio manager in 2016. Before joining the firm, he was an equity research analyst with Henderson Global Investors. He also served as a software engineer with eTouch Systems for two years and with Verisign for two years, as well as working as an associate consultant at CITIL for two years. Sandeep earned a Bachelor of Science degree from the Indian Institute of Technology (BHU) and holds a Master of Business Administration degree from the London Business School.
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Performance
Performance
Average Annual Total ReturnsAverage Annual Total Returns (%)
These results represent the percent change in net asset value.Monthly | Quarterly As of 03/31/24 (*YTD Updated Daily, As of 05/17/24 , subject to revision and not annualized.)Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value fluctuate so your shares, when sold, may be worth more or less than the original cost; current performance may be lower or higher than quoted.Important Performance Information
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable. All results are historical and assume the reinvestment of dividends and capital gains.Sales Charges
Class A shares ("A") results include the maximum sales charge.
Annual Rate of ReturnAnnual Rate of Return (%)
As of 12/31/23 | Benchmark: MSCI All Country World Small Mid Cap Index (net div)annual rate of return table 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 At NAV -6.24 2.19 6.59 29.42 -8.56 30.27 23.59 11.86 -27.07 18.15 With Sales Charge -11.63 -3.68 0.46 21.98 -13.82 22.78 16.48 5.43 -31.26 11.36 MSCI All Country World Small Mid Cap Index (net div) 3.17 -1.34 9.26 24.18 -13.80 25.37 15.67 16.23 -18.72 16.02 At NAV With Sales Charge MSCI All Country World Small Mid Cap Index (net div) 2023 18.15 11.36 16.02 2022 -27.07 -31.26 -18.72 2021 11.86 5.43 16.23 2020 23.59 16.48 15.67 2019 30.27 22.78 25.37 2018 -8.56 -13.82 -13.8 2017 29.42 21.98 24.18 2016 6.59 0.46 9.26 2015 2.19 -3.68 -1.34 2014 -6.24 -11.63 3.17 Pricing & DistributionsPricing History
- NAV at Close of Trading on: 05/17/24
- Net Asset Value (NAV): $22.45
- Change ($) (since 05/16/24 ): 0.01
- Change (%) (since 05/16/24 ): 0.04
- Market Price (MP):
Maximum data displayed is for the most recent 10 yearsHistorical NAV LookupEnter date for which you wish to obtain a Historical NAV for this fundHistorical NAV may not be available for all dates.
Historical MP LookupEnter date for which you wish to obtain a Historical MP for this fundHistorical MP may not be available for all dates.
No data currently availablePast performance is no guarantee of future results. Please consult your tax advisor for further information.