continued from page 1 The US Growth fund, managed by Irfan Alli, is a clone of the US Strateg...
continued from page 1
The US Growth fund, managed by Irfan Alli, is a clone of the US Strategic Growth fund and focuses on mid and large cap-stocks. It is benchmarked against the S&P 500.
In the UK version, MFS is aiming for a return profile closer to the Russell 1000, albeit with a lower overall P/E.
Coxshall said MFS hoped to be able to launch with track records and Standard & Poor's ratings and that it would distribute entirely through intermediary, private banking and fund of funds channels. It would not have a direct operation, he added.
A website dedicated to the UK is currently being developed in anticipation of the December launch and the group expects to make the announcement of the recruitment of a high profile intermediary salesman in the near future.
MFS, which was established in 1924, setting up the first ever open-ended mutual fund in the US, is one of the largest groups in North America. It is ranked fifth, with around $150bn under management.
The other groups in the top six are Fidelity and Vanguard, which occupy the first and second positions, as well as Putnam, Janus and Alliance Capital Management.
For more information contact: 0207 950 1700.
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