MFS Equity works well with teamwork

MFS European Equity, which will be three years old in March, is unusual in that there is no designated portfolio manager. The fund is a collection of 'best ideas' put forward by a team of seven London-based analysts who split the pan-European universe up by sector. The fund has survived the market falls of last year relatively well ' it is ahead of its peer group average and the index over the last 12 months. Within each analyst's sector they may sell a stock if they decide to, for example, if it has reached its price target or the fundamentals change. However, if they want to buy a sto...