Investment Objective
Seeks capital appreciation.
Investment Focus
Earnings and cash flow growth drives share price performance over the long term
Fundamentals drive earnings and cash flow
Investors often underestimate the rate and/or duration of growth
Strategy Information
- Strategy Commencement 01/01/2009
-
Benchmark
Russell Midcap Growth Index measures U.S. mid-cap growth stocks.Russell Midcap® Growth Index
Managers
Top 10 Holdings
As of 05/31/25
- Howmet Aerospace Inc
- Guidewire Software Inc
- Spotify Technology SA
- Take-Two Interactive Software Inc
- Westinghouse Air Brake Technologies Corp
- LPL Financial Holdings Inc
- Cheniere Energy Inc
- Tyler Technologies Inc
- Dexcom Inc
- CBRE Group Inc
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.
Investments in growth companies can be more sensitive to the company's earnings and more volatile than the stock market in general.
Investments in mid-cap companies can be more volatile than investments in larger companies.
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.
Eric Fischman, CFA
Portfolio Manager
Eric B. Fischman, CFA, is an investment officer and portfolio manager at MFS Investment Management® (MFS®). In this role, he is responsible for final buy and sell decisions, portfolio construction, risk assessment and cash management. He also participates in the research process and strategy discussions. Eric joined MFS as an equity research analyst in 2000 and was named portfolio manager in 2002. Prior to joining the firm he served as an equity research analyst at State Street Research and as a staff attorney at the US Federal Reserve Board in Washington, D.C. Eric earned a Master of Business Administration degree from Columbia Business School, a law degree from Boston University School of Law and a bachelor's degree from Cornell University. He holds the Certified Financial Analyst (CFA) designation.
Jonathan Sage, CFA
Portfolio Manager
Jonathan W. Sage, CFA, 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. Jonathan joined MFS in 2000 as a quantitative equity research analyst and assumed his current role in 2005. He began his career in the financial services industry in 1995. Jonathan earned a bachelor's degree from Tufts University and a Master of Business Administration degree and Master of Science degree in finance from Boston College. He holds the Chartered Financial Analyst (CFA) designation and is a member of the Boston Security Analysts Society, Inc.
Laura Granger, CFA
Institutional Portfolio Manager
Laura Granger, CFA, is an investment officer and institutional equity portfolio manager at MFS Investment Management® (MFS®). In her role, she participates in the research process and strategy discussions, assesses portfolio risk, customizes portfolios to client objectives and guidelines and manages daily cash flows. She also communicates investment policy, strategy and positioning. Laura joined MFS in 2022. She previously worked for eight years as vice president and senior client portfolio manager at American Century Investments. Prior to that she worked for 17 years as a portfolio manager and analyst at multiple investment firms, including Oppenheimer Funds, Fortis Advisors and General Motors Investment Management. She began her career in financial services in 1984. Laura earned a Bachelor of Science degree from Cornell University. She also holds the chartered financial analyst (CFA) designation.
Performance
Average Annual Total Returns (%)
As of 03/31/25
(*YTD Updated Monthly, As of 05/31/25 , 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.
This SMA strategy is implemented through a wrap sponsor program for retail investors. Prior to 1/1/2022 no portfolios were managed under this strategy. Performance shown includes that of a separate but substantially similar strategy with certain differences in implementation designed for institutional clients investing directly with MFS.
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.
Performance reflects that of a fully discretionary composite; individual portfolio results will vary.
Annual Rate of Return (%)
Benchmark: Russell Midcap® Growth Index
| 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross of Fees | 5.47 | 5.62 | 27.59 | 2.02 | 39.04 | 36.81 | 14.90 | -26.74 | 22.44 | 19.83 |
| Net of Fees | 2.36 | 2.51 | 23.89 | -1.00 | 35.03 | 32.86 | 11.54 | -28.97 | 18.87 | 16.34 |
| Russell Midcap® Growth Index | -0.20 | 7.33 | 25.27 | -4.75 | 35.47 | 35.59 | 12.73 | -26.72 | 25.87 | 22.10 |
| at NAV | Russell Midcap® Growth Index | |
|---|---|---|
| 2024 | 19.83 | 22.1 |
| 2023 | 22.44 | 25.87 |
| 2022 | -26.74 | -26.72 |
| 2021 | 14.9 | 12.73 |
| 2020 | 36.81 | 35.59 |
| 2019 | 39.04 | 35.47 |
| 2018 | 2.02 | -4.75 |
| 2017 | 27.59 | 25.27 |
| 2016 | 5.62 | 7.33 |
| 2015 | 5.47 | -0.2 |
Net numbers assume a maximum wrap fee of 3% annually.
Past performance is no guarantee of future results.
-
Overview
Investment Objective
Seeks capital appreciation.
Investment Focus
Earnings and cash flow growth drives share price performance over the long term
Fundamentals drive earnings and cash flow
Investors often underestimate the rate and/or duration of growth
Strategy Information
- Strategy Commencement 01/01/2009
-
Benchmark
Russell Midcap Growth Index measures U.S. mid-cap growth stocks.Russell Midcap® Growth Index
Managers
Top 10 Holdings
As of 05/31/25
- Howmet Aerospace Inc
- Guidewire Software Inc
- Spotify Technology SA
- Take-Two Interactive Software Inc
- Westinghouse Air Brake Technologies Corp
- LPL Financial Holdings Inc
- Cheniere Energy Inc
- Tyler Technologies Inc
- Dexcom Inc
- CBRE Group Inc
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.
Investments in growth companies can be more sensitive to the company's earnings and more volatile than the stock market in general.
Investments in mid-cap companies can be more volatile than investments in larger companies.
Eric Braz, CFA
Portfolio Manager
21YEARS WITH INDUSTRY
3YEARS 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.
Eric Fischman, CFA
Portfolio Manager
34YEARS WITH INDUSTRY
3YEARS WITH PORTFOLIOEric B. Fischman, CFA, is an investment officer and portfolio manager at MFS Investment Management® (MFS®). In this role, he is responsible for final buy and sell decisions, portfolio construction, risk assessment and cash management. He also participates in the research process and strategy discussions. Eric joined MFS as an equity research analyst in 2000 and was named portfolio manager in 2002. Prior to joining the firm he served as an equity research analyst at State Street Research and as a staff attorney at the US Federal Reserve Board in Washington, D.C. Eric earned a Master of Business Administration degree from Columbia Business School, a law degree from Boston University School of Law and a bachelor's degree from Cornell University. He holds the Certified Financial Analyst (CFA) designation.
Jonathan Sage, CFA
Portfolio Manager
30YEARS WITH INDUSTRY
3YEARS WITH PORTFOLIOJonathan W. Sage, CFA, 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. Jonathan joined MFS in 2000 as a quantitative equity research analyst and assumed his current role in 2005. He began his career in the financial services industry in 1995. Jonathan earned a bachelor's degree from Tufts University and a Master of Business Administration degree and Master of Science degree in finance from Boston College. He holds the Chartered Financial Analyst (CFA) designation and is a member of the Boston Security Analysts Society, Inc.
Laura Granger, CFA
Institutional Portfolio Manager
34YEARS WITH INDUSTRY
3YEARS WITH PORTFOLIOLaura Granger, CFA, is an investment officer and institutional equity portfolio manager at MFS Investment Management® (MFS®). In her role, she participates in the research process and strategy discussions, assesses portfolio risk, customizes portfolios to client objectives and guidelines and manages daily cash flows. She also communicates investment policy, strategy and positioning. Laura joined MFS in 2022. She previously worked for eight years as vice president and senior client portfolio manager at American Century Investments. Prior to that she worked for 17 years as a portfolio manager and analyst at multiple investment firms, including Oppenheimer Funds, Fortis Advisors and General Motors Investment Management. She began her career in financial services in 1984. Laura earned a Bachelor of Science degree from Cornell University. She also holds the chartered financial analyst (CFA) designation.
-
Performance
Performance
Average Annual Total ReturnsAverage Annual Total Returns (%)
Monthly | QuarterlyAs of 03/31/25
(*YTD Updated Monthly, As of 05/31/25 , subject to revision and not annualized.)MORNINGSTAR RATINGImportant Performance Information
Past performance is no guarantee of future results.
Net numbers assume a maximum wrap fee of 3% annually.
This SMA strategy is implemented through a wrap sponsor program for retail investors. Prior to 1/1/2022 no portfolios were managed under this strategy. Performance shown includes that of a separate but substantially similar strategy with certain differences in implementation designed for institutional clients investing directly with MFS.
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.
Performance reflects that of a fully discretionary composite; individual portfolio results will vary.
Annual Rate of ReturnAnnual Rate of Return (%)
Benchmark: Russell Midcap® Growth Index
annual rate of return table 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Gross of Fees 5.47 5.62 27.59 2.02 39.04 36.81 14.90 -26.74 22.44 19.83 Net of Fees 2.36 2.51 23.89 -1.00 35.03 32.86 11.54 -28.97 18.87 16.34 Russell Midcap® Growth Index -0.20 7.33 25.27 -4.75 35.47 35.59 12.73 -26.72 25.87 22.10 at NAV Russell Midcap® Growth Index 2024 19.83 22.1 2023 22.44 25.87 2022 -26.74 -26.72 2021 14.9 12.73 2020 36.81 35.59 2019 39.04 35.47 2018 2.02 -4.75 2017 27.59 25.27 2016 5.62 7.33 2015 5.47 -0.2 Net numbers assume a maximum wrap fee of 3% annually.
Past performance is no guarantee of future results.