European Core Equity Fund
THIS INFORMATION IS FOR MARKETING PURPOSES ONLY
Please note that this is an actively managed product.
Class I shares are only available to certain qualifying institutional investors.
European Core Equity Fund
INVESTMENT OBJECTIVE
Seeks capital appreciation, measured in Euros.
INVESTMENT FOCUS
Focuses on quality of business model by selecting companies with what we believe have enduring competitive advantages and strong management teams, high returns on capital and significant free cash generation, and who can compound growth and intrinsic value at above-average rates
Long-term investors assess investment opportunities over full market cycles, with country and sector exposures driven by bottom-up stock selection, not top down allocation
Selects European equity securities perceived by MFS as having above average growth utilizing a 'growth at a reasonable price' strategy
Important Risk Considerations
The fund may not achieve its objective and/or you could lose money on your investment in the fund.
Please see the prospectus for further information on these and other risk considerations.
Fund Information
- Fund Inception 01-Oct-2002
- Net Assets (€ M) As of 31-Mar-25 €102.56
- Fiscal Year End JANUARY
- SFDR Classification Article 8
- Benchmark MSCI Europe Index (net div)
Share Class Information
- Class Inception 19-Feb-2025
- Net Asset Value (NAV) As of 23-Apr-25 €452.22
- Most Recent NAV Change As of 23-Apr-25 €6.78 | 1.52%
- ISIN LU2971679951
- SEDOL BT8SCL3
- WKN A40Z2H
- Bloomberg MFECIF1 LX
- CUSIP L6367C690
- Maximum Sales Charge --
- Benchmark MSCI Europe Index (net div)
MANAGERS
Top 10 Holdings
- LVMH Moet Hennessy Louis Vuitton SE
- Pernod Ricard SA
- Merck KGaA
- Heineken Holding NV
- Schneider Electric SE
- Capgemini SE
- Melrose Industries PLC
- Cie Financiere Richemont SA
- Legrand SA
- Erste Group Bank AG
Roger Morley
Portfolio Manager
Roger M. Morley is an investment officer and an equity portfolio manager at MFS Investment Management® (MFS®). He is a co-portfolio manager of MFS Global Equity (since 2009), MFS Global Concentrated Equity (since 2012) and portfolio manager of the MFS Meridian Core European Equity (since 2008). As an equity portfolio manager, Roger is responsible for the final buy and sell decisions, portfolio construction, and risk and cash management. Additionally, he participates in the research process and strategy discussions. Roger is based in MFS' London office.
Roger joined MFS as a research analyst in 2002 and was named portfolio manager in 2009. Prior to joining the firm, he worked in London for Deutsche Bank AG (formerly Bankers Trust Company and Alex. Brown & Sons), first as a financial analyst in the technology and media group and then as an associate in the health care group of the Global Investment Banking department.
Roger is a graduate of Saint Catharine's College, University of Cambridge, where he earned a Master of Arts degree in History. He also earned a Master of Business Administration degree from INSEAD in Fontainebleau, France.
Gabrielle Gourgey
Institutional Portfolio Manager
GGabrielle Gourgey is an investment officer and director of investments for Europe at MFS Investment Management® (MFS®) and chief executive officer of MFS International (U.K.) Ltd., the firm's UK-domiciled subsidiary. She oversees the MFS UK operation in collaboration with the firm's global leadership team. Gaby joined the firm in 2006 from Merrill Lynch, where she covered the technology and industrials sectors as a sector specialist. She went on to serve as an institutional portfolio manager for several of the firm's European equity strategies and is a member of the portfolio management team of the European research equity strategy. She has held several leadership roles at MFS, including managing the firm's global team of equity institutional portfolio managers and participating in internal committees and working groups such as the Investment Sustainability Committee and the President's Council. Gaby earned a Bachelor of Arts degree from Bristol University. She is an alumna of London Business School, where she completed the Financial Analysis and Accounting module and the Senior Executive Programme. She represents MFS in the Diversity Project UK.
Benjamin Tingling, CAIA
Institutional Portfolio Manager
Benjamin Tingling is an institutional portfolio manager at MFS Investment Management (MFS). In this role, he participates in the research process and strategy discussions, assesses portfolio risk, customizes portfolios to client objectives and guidelines and manages daily cash flows. He also communicates investment policy, strategy and positioning. He is based in London.
Benjamin joined MFS in 2014 in his current role. He previously worked for Man Group Plc for six years, most recently as a derivatives and client on-boarding associate.
Benjamin earned a Bachelor of Science degree in economics and finance from Brunel University. He holds the Chartered Alternative Investment Analyst (CAIA) designation and an Investment Management Certificate (IMC).
Performance
- 12 Month Total Returns
- Average Annual Total Returns
- Annual Rate of Return
- Pricing & Distributions
- Performance Attribution
12 Month Total Returns (%)
12 Month Total Returns (%)
As of 31-Mar-25 [updated monthly]| 12 month period ending: |
31-Mar-21
or Life
|
31-Mar-22 | 31-Mar-23 | 31-Mar-24 | 31-Mar-25 | YTD % | Class Inception |
|---|---|---|---|---|---|---|---|
| Class IF1 Shares, Euros at NAV | 35.26 | 8.28 | 3.43 | 9.91 | 2.29 | -2.69 | 19-Feb-2025 |
| MSCI Europe Index (net div) | 35.32 | 9.34 | 3.82 | 14.79 | 6.85 | - | - |
| 12 month period ending: | Class IF1 Shares, Euros at NAV | |
|---|---|---|
| 31-Mar-21 or Life | 35.26 | |
| 31-Mar-22 | 8.28 | |
| 31-Mar-23 | 3.43 | |
| 31-Mar-24 | 9.91 | |
| 31-Mar-25 | 2.29 | |
| YTD % | -2.69 | |
| Class Inception | 19-Feb-2025 | 19-Feb-2025 |
Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested.
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
Important Performance Information
Class I1 Roll-Up shares do not pay distributions to shareholders.
The MFS Meridian Funds offer several share classes each with different expenses. Performance reflects the performance of a relevant older class with the same currency until the class inception date of the class detailed. Performance for periods prior to that date may have been higher or lower had the actual share class fees and expenses been reflected.
Please note that these share classes will be available for investment up until the fund reaches AUM of $200 million, at which point the Founders Class will be soft-closed.
At this time these share classes will only be available in a limited selection of currencies.
Average Annual Total Returns (%)
Average Annual Total Returns (%)
Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested.
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
Important Performance Information
Class I1 Roll-Up shares do not pay distributions to shareholders.
The MFS Meridian Funds offer several share classes each with different expenses. Performance reflects the performance of a relevant older class with the same currency until the class inception date of the class detailed. Performance for periods prior to that date may have been higher or lower had the actual share class fees and expenses been reflected.
Please note that these share classes will be available for investment up until the fund reaches AUM of $200 million, at which point the Founders Class will be soft-closed.
At this time these share classes will only be available in a limited selection of currencies.
Annual Rate of Return (%)
Annual Rate of Return (%)
As of 31-Dec-24 Benchmark: MSCI Europe Index (net div)|
Life
|
2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| At NAV | 8.20 | 16.60 | 1.63 | 18.00 | -7.05 | 29.80 | -0.47 | 24.54 | -13.50 | 13.24 | 6.88 |
| MSCI Europe Index (net div) | - | 8.22 | 2.58 | 10.24 | -10.57 | 26.05 | -3.32 | 25.13 | -9.49 | 15.83 | 8.59 |
| At NAV | MSCI Europe Index (net div) | |
|---|---|---|
| 2024 | 6.88 | 8.59 |
| 2023 | 13.24 | 15.83 |
| 2022 | -13.5 | -9.49 |
| 2021 | 24.54 | 25.13 |
| 2020 | -0.47 | -3.32 |
| 2019 | 29.8 | 26.05 |
| 2018 | -7.05 | -10.57 |
| 2017 | 18.0 | 10.24 |
| 2016 | 1.63 | 2.58 |
| 2015 | 16.6 | 8.22 |
| 8.2 | - |
Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested.
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
Important Performance Information
Class I1 Roll-Up shares do not pay distributions to shareholders.
The MFS Meridian Funds offer several share classes each with different expenses. Performance reflects the performance of a relevant older class with the same currency until the class inception date of the class detailed. Performance for periods prior to that date may have been higher or lower had the actual share class fees and expenses been reflected.
Please note that these share classes will be available for investment up until the fund reaches AUM of $200 million, at which point the Founders Class will be soft-closed.
At this time these share classes will only be available in a limited selection of currencies.
Pricing History
- NAV at Close of Trading on: 23-Apr-25
- Net Asset Value (NAV): €452.22
- Change (€) (since 22-Apr-25): 6.78
- Change (%) (since 22-Apr-25): 1.52
- Market Price (MP):
Historical NAV may not be available for all dates.
Historical MP may not be available for all dates.
Distributions
Performance Attribution
GuideAvailable approximately 15 or 25 days after month end
Available approximately 25 days after quarter end
Year To Date (YTD)
12 Month Attribution
-
Overview
INVESTMENT OBJECTIVE
Seeks capital appreciation, measured in Euros.
INVESTMENT FOCUS
Focuses on quality of business model by selecting companies with what we believe have enduring competitive advantages and strong management teams, high returns on capital and significant free cash generation, and who can compound growth and intrinsic value at above-average rates
Long-term investors assess investment opportunities over full market cycles, with country and sector exposures driven by bottom-up stock selection, not top down allocation
Selects European equity securities perceived by MFS as having above average growth utilizing a 'growth at a reasonable price' strategy
Important Risk Considerations
The fund may not achieve its objective and/or you could lose money on your investment in the fund.
Please see the prospectus for further information on these and other risk considerations.
Fund Information
- Fund Inception 01-Oct-2002
- Net Assets (€ M) As of 31-Mar-25 €102.56
- Fiscal Year End JANUARY
- SFDR Classification Article 8
- Benchmark MSCI Europe Index (net div)
Share Class Information
- Class Inception 19-Feb-2025
- Net Asset Value (NAV) As of 23-Apr-25 €452.22
- Most Recent NAV Change As of 23-Apr-25 €6.78 | 1.52%
- ISIN LU2971679951
- SEDOL BT8SCL3
- WKN A40Z2H
- Bloomberg MFECIF1 LX
- CUSIP L6367C690
- Maximum Sales Charge --
- Benchmark MSCI Europe Index (net div)
MANAGERS
Top 10 Holdings
As of 31-Mar-25- LVMH Moet Hennessy Louis Vuitton SE
- Pernod Ricard SA
- Merck KGaA
- Heineken Holding NV
- Schneider Electric SE
- Capgemini SE
- Melrose Industries PLC
- Cie Financiere Richemont SA
- Legrand SA
- Erste Group Bank AG
Roger Morley
Portfolio Manager
28YEARS WITH INDUSTRY
17YEARS WITH PORTFOLIORoger M. Morley is an investment officer and an equity portfolio manager at MFS Investment Management® (MFS®). He is a co-portfolio manager of MFS Global Equity (since 2009), MFS Global Concentrated Equity (since 2012) and portfolio manager of the MFS Meridian Core European Equity (since 2008). As an equity portfolio manager, Roger is responsible for the final buy and sell decisions, portfolio construction, and risk and cash management. Additionally, he participates in the research process and strategy discussions. Roger is based in MFS' London office.
Roger joined MFS as a research analyst in 2002 and was named portfolio manager in 2009. Prior to joining the firm, he worked in London for Deutsche Bank AG (formerly Bankers Trust Company and Alex. Brown & Sons), first as a financial analyst in the technology and media group and then as an associate in the health care group of the Global Investment Banking department.
Roger is a graduate of Saint Catharine's College, University of Cambridge, where he earned a Master of Arts degree in History. He also earned a Master of Business Administration degree from INSEAD in Fontainebleau, France.
Gabrielle Gourgey
Institutional Portfolio Manager
30YEARS WITH INDUSTRY
18YEARS WITH PORTFOLIOGGabrielle Gourgey is an investment officer and director of investments for Europe at MFS Investment Management® (MFS®) and chief executive officer of MFS International (U.K.) Ltd., the firm's UK-domiciled subsidiary. She oversees the MFS UK operation in collaboration with the firm's global leadership team. Gaby joined the firm in 2006 from Merrill Lynch, where she covered the technology and industrials sectors as a sector specialist. She went on to serve as an institutional portfolio manager for several of the firm's European equity strategies and is a member of the portfolio management team of the European research equity strategy. She has held several leadership roles at MFS, including managing the firm's global team of equity institutional portfolio managers and participating in internal committees and working groups such as the Investment Sustainability Committee and the President's Council. Gaby earned a Bachelor of Arts degree from Bristol University. She is an alumna of London Business School, where she completed the Financial Analysis and Accounting module and the Senior Executive Programme. She represents MFS in the Diversity Project UK.
Benjamin Tingling, CAIA
Institutional Portfolio Manager
19YEARS WITH INDUSTRY
7YEARS WITH PORTFOLIOBenjamin Tingling is an institutional portfolio manager at MFS Investment Management (MFS). In this role, he participates in the research process and strategy discussions, assesses portfolio risk, customizes portfolios to client objectives and guidelines and manages daily cash flows. He also communicates investment policy, strategy and positioning. He is based in London.
Benjamin joined MFS in 2014 in his current role. He previously worked for Man Group Plc for six years, most recently as a derivatives and client on-boarding associate.
Benjamin earned a Bachelor of Science degree in economics and finance from Brunel University. He holds the Chartered Alternative Investment Analyst (CAIA) designation and an Investment Management Certificate (IMC). -
Performance
Performance
- 12 Month Total Returns
- Average Annual Total Returns
- Annual Rate of Return
- Pricing & Distributions
- Performance Attribution
12 Month Total Returns12 Month Total Returns (%)
12 Month Total Returns (%)
As of 31-Mar-25 [updated monthly]12 month period ending: 31-Mar-21or Life31-Mar-22 31-Mar-23 31-Mar-24 31-Mar-25 YTD % Class Inception Class IF1 Shares, Euros at NAV 35.26 8.28 3.43 9.91 2.29 -2.69 19-Feb-2025 MSCI Europe Index (net div) 35.32 9.34 3.82 14.79 6.85 - - 12 month period ending: Class IF1 Shares, Euros at NAV 31-Mar-21 or Life 35.26 31-Mar-22 8.28 31-Mar-23 3.43 31-Mar-24 9.91 31-Mar-25 2.29 YTD % -2.69 Class Inception 19-Feb-2025 19-Feb-2025 Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested.
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
Important Performance Information
Class I1 Roll-Up shares do not pay distributions to shareholders.
The MFS Meridian Funds offer several share classes each with different expenses. Performance reflects the performance of a relevant older class with the same currency until the class inception date of the class detailed. Performance for periods prior to that date may have been higher or lower had the actual share class fees and expenses been reflected.
Please note that these share classes will be available for investment up until the fund reaches AUM of $200 million, at which point the Founders Class will be soft-closed.
At this time these share classes will only be available in a limited selection of currencies.
Average Annual Total ReturnsAverage Annual Total Returns (%)
Average Annual Total Returns (%)
Updated monthly as of 31-Mar-25Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested.
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
Important Performance Information
Class I1 Roll-Up shares do not pay distributions to shareholders.
The MFS Meridian Funds offer several share classes each with different expenses. Performance reflects the performance of a relevant older class with the same currency until the class inception date of the class detailed. Performance for periods prior to that date may have been higher or lower had the actual share class fees and expenses been reflected.
Please note that these share classes will be available for investment up until the fund reaches AUM of $200 million, at which point the Founders Class will be soft-closed.
At this time these share classes will only be available in a limited selection of currencies.
Annual Rate of ReturnAnnual Rate of Return (%)
Annual Rate of Return (%)
As of 31-Dec-24 Benchmark: MSCI Europe Index (net div)annual rate of return table Life2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 At NAV 8.20 16.60 1.63 18.00 -7.05 29.80 -0.47 24.54 -13.50 13.24 6.88 MSCI Europe Index (net div) - 8.22 2.58 10.24 -10.57 26.05 -3.32 25.13 -9.49 15.83 8.59 At NAV MSCI Europe Index (net div) 2024 6.88 8.59 2023 13.24 15.83 2022 -13.5 -9.49 2021 24.54 25.13 2020 -0.47 -3.32 2019 29.8 26.05 2018 -7.05 -10.57 2017 18.0 10.24 2016 1.63 2.58 2015 16.6 8.22 8.2 - Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested.
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
Important Performance Information
Class I1 Roll-Up shares do not pay distributions to shareholders.
The MFS Meridian Funds offer several share classes each with different expenses. Performance reflects the performance of a relevant older class with the same currency until the class inception date of the class detailed. Performance for periods prior to that date may have been higher or lower had the actual share class fees and expenses been reflected.
Please note that these share classes will be available for investment up until the fund reaches AUM of $200 million, at which point the Founders Class will be soft-closed.
At this time these share classes will only be available in a limited selection of currencies.
Pricing & DistributionsPricing History
- NAV at Close of Trading on: 23-Apr-25
- Net Asset Value (NAV): €452.22
- Change (€) (since 22-Apr-25): 6.78
- Change (%) (since 22-Apr-25): 1.52
- 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.
Distributions
There are no distributions for this share class or distributions are currently not availablePerformance AttributionPerformance Attribution
GuideAvailable approximately 15 or 25 days after month end
Quarterly AttributionAvailable approximately 25 days after quarter end
Year To Date (YTD)
12 Month Attribution
Calendar YearNo Data Available