INVESTMENT OBJECTIVE
Seeks long-term capital appreciation.
INVESTMENT FOCUS
Analyst-run, core international stock portfolio
Broadly diversified by sector, invests across regions, industries, styles, and market capitalizations
Company specific stock selection, not country specific
Strategy Information
- Strategy Commencement 02/01/01
-
Benchmark
Blend of MSCI EAFE Gross to Net at 08/01/2017
MSCI EAFE (Europe, Australasia, Far East) Index- a market capitalization-weighted index that is designed to measure equity market performance in the developed markets, excluding the U.S. and Canada.
MANAGERS
Camille Humphries Lee will retire from MFS on May 1, 2024.
Effective January 1, 2024, John Mahoney joined the portfolio management team.
Top 10 Holdings
- Linde PLC
- Novo Nordisk AS ADR
- UBS Group AG
- Hitachi Ltd ADR
- Taiwan Semiconductor Manufacturing Co Ltd ADR
- Schneider Electric SE ADR
- Zurich Insurance Group AG ADR
- Mitsubishi UFJ Financial Group Inc ADR
- BNP Paribas SA ADR
- LVMH Moet Hennessy Louis Vuitton SE ADR
Important Risk Considerations
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, and other conditions.
Jim Fallon
General Oversight
James C. Fallon is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). He is a member of the portfolio management team responsible for the firm's Blended Research, low volatility and other quantitatively managed equity strategies. In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the quantitative research process and strategy discussions. James joined MFS in 1999 as a securities lending administrator. He became an equity research associate in 2000 and was named equity quantitative research analyst in 2001. He assumed his current role in 2007. Prior to joining MFS, he served as mutual fund custody accountant for Investors Bank & Trust. James earned a bachelor's degree from the University of New Hampshire and a Master of Business Administration degree from Boston University. He is a member of the CFA Institute and the Boston Security Analysts Society.
Camille Humphries Lee, CFA
General Oversight
Camille Humphries Lee, CFA, is an investment officer and equity portfolio manager for the International Diversification and Research International strategies at MFS Investment Management® (MFS®). She also serves as an institutional equity portfolio manager for the firm's International Intrinsic Value strategy. Camille joined MFS in 2000 as an institutional portfolio manager and assumed her portfolio management responsibilities in 2018. She has worked in the investment management industry since 1990 and previously served as a vice president and research analyst at Alex. Brown, Inc. and later at SG Cowen Securities Corp. Camille earned both a bachelor's degree and a Master of Business Administration degree from the University of Virginia. She holds the Chartered Financial Analyst (CFA) designation.
John Mahoney, CFA
General Oversight
John W. Mahoney, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). John serves as a portfolio manager for the International Diversification? and International Research strategies. He also serves as an institutional portfolio manager for the firm's International Intrinsic Value and U.S. Intrinsic Value strategies. As an institutional portfolio manager, he participates in the research process and strategy discussions, assesses portfolio risk, customizes portfolios to client objectives and guidelines and manages daily cash flows. John joined the firm in 2005. He served as a senior strategist--investment product specialist before becoming a portfolio manager and institutional portfolio manager in 2024. John earned a bachelor's degree from Bentley College. He is a CFA charter holder and is a member of the CFA Society Boston, Inc.
Nicholas Paul, CFA
General Oversight
Nicholas J. Paul, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). Nicholas serves as a portfolio manager of the International Diversification strategy. He also serves as an institutional portfolio manager and member of the following portfolio management teams: International Growth Equity, International Large Cap Value Equity, Global Small-Mid Cap Equity and European Smaller Companies. As an institutional portfolio manager, he participates in the research process and strategy discussions, assesses portfolio risk, customizes portfolios to client objectives and guidelines and manages daily cash flows. Nicholas joined the firm in 2010. He served as an investment product specialist before becoming an institutional portfolio manager in 2018 and being named portfolio manager in 2022. Prior to joining the firm, he spent nine years at Putnam Investments as a vice president and investment product manager. He began his career in financial services in 1999. Nicholas earned a bachelor's degree from West Virginia University and a Master of Business Administration degree with honors from Boston College's Carroll School of Management. He is a CFA charter holder and a member of CFA Society Boston, Inc.
Performance
Average Annual Total Returns (%)
Important Performance Information
Past performance is no guarantee of future results.
Net numbers assume a maximum wrap fee of 3% annually.
Total gross of fee returns include both capital appreciation and reinvestment of income but exclude custody fees.
It is not possible to invest directly in an index. Index performance will differ from our actively managed strategies, which may involve a higher degree of risk.
Annual Rate of Return (%)
Benchmark: Blend of MSCI EAFE Gross to Net at 08/01/2017| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross of Fees | -4.62 | -0.40 | 2.83 | 27.43 | -13.62 | 28.26 | 12.92 | 12.39 | -12.95 | 17.46 |
| Net of Fees | -7.45 | -3.35 | -0.21 | 23.73 | -16.21 | 24.54 | 9.60 | 9.10 | -15.56 | 14.02 |
| Blend of MSCI EAFE Gross to Net at 08/01/2017 | -4.48 | -0.39 | 1.51 | 25.50 | -13.79 | 22.01 | 7.82 | 11.26 | -14.45 | 18.24 |
| at NAV | Blend of MSCI EAFE Gross to Net at 08/01/2017 | |
|---|---|---|
| 2023 | 17.46 | 18.24 |
| 2022 | -12.95 | -14.45 |
| 2021 | 12.39 | 11.26 |
| 2020 | 12.92 | 7.82 |
| 2019 | 28.26 | 22.01 |
| 2018 | -13.62 | -13.79 |
| 2017 | 27.43 | 25.5 |
| 2016 | 2.83 | 1.51 |
| 2015 | -0.4 | -0.39 |
| 2014 | -4.62 | -4.48 |
Net numbers assume a maximum wrap fee of 3% annually.
Past performance is no guarantee of future results.
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Overview
INVESTMENT OBJECTIVE
Seeks long-term capital appreciation.
INVESTMENT FOCUS
Analyst-run, core international stock portfolio
Broadly diversified by sector, invests across regions, industries, styles, and market capitalizations
Company specific stock selection, not country specific
Strategy Information
- Strategy Commencement 02/01/01
-
Benchmark
Blend of MSCI EAFE Gross to Net at 08/01/2017
MSCI EAFE (Europe, Australasia, Far East) Index- a market capitalization-weighted index that is designed to measure equity market performance in the developed markets, excluding the U.S. and Canada.
MANAGERS
Camille Humphries Lee will retire from MFS on May 1, 2024.
Effective January 1, 2024, John Mahoney joined the portfolio management team.
Top 10 Holdings
As of 03/31/24- Linde PLC
- Novo Nordisk AS ADR
- UBS Group AG
- Hitachi Ltd ADR
- Taiwan Semiconductor Manufacturing Co Ltd ADR
- Schneider Electric SE ADR
- Zurich Insurance Group AG ADR
- Mitsubishi UFJ Financial Group Inc ADR
- BNP Paribas SA ADR
- LVMH Moet Hennessy Louis Vuitton SE ADR
Important Risk Considerations
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, and other conditions.
Jim Fallon
General Oversight
25YEARS WITH INDUSTRY
17YEARS WITH PORTFOLIOJames C. Fallon is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). He is a member of the portfolio management team responsible for the firm's Blended Research, low volatility and other quantitatively managed equity strategies. In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the quantitative research process and strategy discussions. James joined MFS in 1999 as a securities lending administrator. He became an equity research associate in 2000 and was named equity quantitative research analyst in 2001. He assumed his current role in 2007. Prior to joining MFS, he served as mutual fund custody accountant for Investors Bank & Trust. James earned a bachelor's degree from the University of New Hampshire and a Master of Business Administration degree from Boston University. He is a member of the CFA Institute and the Boston Security Analysts Society.
Camille Humphries Lee, CFA
General Oversight
34YEARS WITH INDUSTRY
16YEARS WITH PORTFOLIOCamille Humphries Lee, CFA, is an investment officer and equity portfolio manager for the International Diversification and Research International strategies at MFS Investment Management® (MFS®). She also serves as an institutional equity portfolio manager for the firm's International Intrinsic Value strategy. Camille joined MFS in 2000 as an institutional portfolio manager and assumed her portfolio management responsibilities in 2018. She has worked in the investment management industry since 1990 and previously served as a vice president and research analyst at Alex. Brown, Inc. and later at SG Cowen Securities Corp. Camille earned both a bachelor's degree and a Master of Business Administration degree from the University of Virginia. She holds the Chartered Financial Analyst (CFA) designation.
John Mahoney, CFA
General Oversight
20YEARS WITH INDUSTRY
1YEAR WITH PORTFOLIOJohn W. Mahoney, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). John serves as a portfolio manager for the International Diversification? and International Research strategies. He also serves as an institutional portfolio manager for the firm's International Intrinsic Value and U.S. Intrinsic Value strategies. As an institutional portfolio manager, he participates in the research process and strategy discussions, assesses portfolio risk, customizes portfolios to client objectives and guidelines and manages daily cash flows. John joined the firm in 2005. He served as a senior strategist--investment product specialist before becoming a portfolio manager and institutional portfolio manager in 2024. John earned a bachelor's degree from Bentley College. He is a CFA charter holder and is a member of the CFA Society Boston, Inc.
Nicholas Paul, CFA
General Oversight
25YEARS WITH INDUSTRY
1YEAR WITH PORTFOLIONicholas J. Paul, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). Nicholas serves as a portfolio manager of the International Diversification strategy. He also serves as an institutional portfolio manager and member of the following portfolio management teams: International Growth Equity, International Large Cap Value Equity, Global Small-Mid Cap Equity and European Smaller Companies. As an institutional portfolio manager, he participates in the research process and strategy discussions, assesses portfolio risk, customizes portfolios to client objectives and guidelines and manages daily cash flows. Nicholas joined the firm in 2010. He served as an investment product specialist before becoming an institutional portfolio manager in 2018 and being named portfolio manager in 2022. Prior to joining the firm, he spent nine years at Putnam Investments as a vice president and investment product manager. He began his career in financial services in 1999. Nicholas earned a bachelor's degree from West Virginia University and a Master of Business Administration degree with honors from Boston College's Carroll School of Management. He is a CFA charter holder and a member of CFA Society Boston, Inc.
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Performance
Performance
Average Annual Total ReturnsAverage Annual Total Returns (%)
Monthly | Quarterly As of 03/31/24 (*YTD Updated Monthly, As of 03/31/24 , subject to revision and not annualized.)Important Performance Information
Past performance is no guarantee of future results.
Net numbers assume a maximum wrap fee of 3% annually.
Total gross of fee returns include both capital appreciation and reinvestment of income but exclude custody fees.
It is not possible to invest directly in an index. Index performance will differ from our actively managed strategies, which may involve a higher degree of risk.
Annual Rate of ReturnAnnual Rate of Return (%)
Benchmark: Blend of MSCI EAFE Gross to Net at 08/01/2017annual rate of return table 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Gross of Fees -4.62 -0.40 2.83 27.43 -13.62 28.26 12.92 12.39 -12.95 17.46 Net of Fees -7.45 -3.35 -0.21 23.73 -16.21 24.54 9.60 9.10 -15.56 14.02 Blend of MSCI EAFE Gross to Net at 08/01/2017 -4.48 -0.39 1.51 25.50 -13.79 22.01 7.82 11.26 -14.45 18.24 at NAV Blend of MSCI EAFE Gross to Net at 08/01/2017 2023 17.46 18.24 2022 -12.95 -14.45 2021 12.39 11.26 2020 12.92 7.82 2019 28.26 22.01 2018 -13.62 -13.79 2017 27.43 25.5 2016 2.83 1.51 2015 -0.4 -0.39 2014 -4.62 -4.48 Net numbers assume a maximum wrap fee of 3% annually.
Past performance is no guarantee of future results.