Contrarian Capital 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.
Contrarian Capital Fund
INVESTMENT OBJECTIVE
Seeks capital appreciation while outperforming the MSCI World Value (net div) over full market cycles.
INVESTMENT FOCUS
Generally has held 30-60 holdings.
We believe that, with disequilibrium, a stock can present an asymmetric risk and return profile with the potential to produce upside return while also limiting downside risk.
We believe the market overreacts to unexpected news and swings in sentiment create a divergence between price and value. This provides opportunity for a patient investor who dispassionately weighs the facts and valuations, and is unafraid to lean into a contrarian view.
Important Risk Considerations
The fund may not achieve its objective and/or you could lose money on your investment in the fund.
Stock: 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, environmental, public health, and other conditions.
Intrinsic Value: The stocks of companies that MFS believes are undervalued compared to their intrinsic value can continue to be undervalued for long periods of time, may not realize their expected value, and can be volatile.
Concentrated: The portfolio's performance could be more volatile than the performance of more diversified portfolios.
Geographic: Because the portfolio may invest a substantial amount of its assets in issuers located in a single country or in a limited number of countries, it may be more volatile than a portfolio that is more geographically diversified.
Please see the prospectus for further information on these and other risk considerations.
Fund Information
- Fund Inception 20-Nov-2024
- Net Assets (US$ M) As of 28-Feb-25 US$2.29
- Fiscal Year End JANUARY
- SFDR Classification Article 8
- Benchmark MSCI World Value Index (net div)
Share Class Information
- Class Inception 20-Nov-2024
- Net Asset Value (NAV) As of 14-Mar-25 $108.58
- Most Recent NAV Change As of 14-Mar-25 $1.98 | 1.86%
- ISIN LU2864447177
- SEDOL BQV3FY8
- WKN A40JNA
- Bloomberg MFMCI1U LX
- CUSIP L63678327
- Maximum Sales Charge --
- Benchmark MSCI World Value Index (net div)
MANAGERS
Top 10 Holdings
- National Grid PLC
- Ryanair Holdings PLC ADR
- Airbus SE
- CSX Corp
- Davide Campari-Milano NV
- Autoliv Inc
- Veolia Environnement SA
- Cie Generale des Etablissements Michelin SCA
- Novozymes AS
- Canadian Pacific Kansas City Ltd
Anne Christine Farstad
Portfolio Manager
Anne-Christine (AC) Farstad is an investment officer and equity portfolio manager for the Contrarian Value strategies at MFS Investment Management® (MFS®). In this role, she is responsible for final buy and sell decisions, portfolio construction, risk and cash management. She also participates in the research process and strategy discussions. She is based in London. AC joined MFS in 2005 as an equity research analyst before assuming her current role in 2015. Before joining the firm, she worked for two years as an equity research analyst following European and US companies for Bailey Coates Asset Management. She also spent one year in the Global Equity Hedge Fund Sales group for UBS in London. She began her career in the financial services industry in 2002. AC earned a Master of Arts degree in literature from the University of Cambridge.
Zahid Kassam, CFA
Portfolio Manager
Zahid Kassam, CFA, is an investment officer and equity portfolio manager for the Contrarian Value strategies at MFS Investment Management® (MFS®). In this role, 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. He is based in Toronto. Zahid joined MFS in 2013 as an equity research analyst and assumed portfolio management responsibilities in 2021. He previously spent two years as a senior analyst at the Ontario Teachers' Pension Plan's private equity arm and two years as a mergers and acquisitions investment banking analyst at RBC Capital Markets. He began his career in the financial services industry in 2007. Zahid earned a Bachelor of Arts degree in business administration with Ivey Scholar honors from Ivey Business School at the University of Western Ontario and a Master of Business Administration degree from Harvard Business School. He holds the Chartered Financial Analyst (CFA) designation.
Paul Fairbrother, ASIP
Institutional Portfolio Manager
Paul Fairbrother, ASIP, is an investment officer and institutional equity 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 is also responsible for communicating investment policy, strategy and positioning. He is based in London. Paul joined MFS in 2019 in his current role after five years at Sarasin & Partners as a business partner and client account director. Prior to that, he served as a European equity portfolio manager, European equity analyst and UK equity portfolio manager for UBS Asset Management over the course of his 21-year tenure there. He began his career in the financial services industry in 1993. Paul earned a bachelor's degree in business economics from the University of Reading. He is a member of the CFA Institute and an Associate of the CFA Society of the UK (ASIP).
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).
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Overview
INVESTMENT OBJECTIVE
Seeks capital appreciation while outperforming the MSCI World Value (net div) over full market cycles.
INVESTMENT FOCUS
Generally has held 30-60 holdings.
We believe that, with disequilibrium, a stock can present an asymmetric risk and return profile with the potential to produce upside return while also limiting downside risk.
We believe the market overreacts to unexpected news and swings in sentiment create a divergence between price and value. This provides opportunity for a patient investor who dispassionately weighs the facts and valuations, and is unafraid to lean into a contrarian view.
Important Risk Considerations
The fund may not achieve its objective and/or you could lose money on your investment in the fund.
Stock: 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, environmental, public health, and other conditions.
Intrinsic Value: The stocks of companies that MFS believes are undervalued compared to their intrinsic value can continue to be undervalued for long periods of time, may not realize their expected value, and can be volatile.
Concentrated: The portfolio's performance could be more volatile than the performance of more diversified portfolios.
Geographic: Because the portfolio may invest a substantial amount of its assets in issuers located in a single country or in a limited number of countries, it may be more volatile than a portfolio that is more geographically diversified.
Please see the prospectus for further information on these and other risk considerations.
Fund Information
- Fund Inception 20-Nov-2024
- Net Assets (US$ M) As of 28-Feb-25 US$2.29
- Fiscal Year End JANUARY
- SFDR Classification Article 8
- Benchmark MSCI World Value Index (net div)
Share Class Information
- Class Inception 20-Nov-2024
- Net Asset Value (NAV) As of 14-Mar-25 $108.58
- Most Recent NAV Change As of 14-Mar-25 $1.98 | 1.86%
- ISIN LU2864447177
- SEDOL BQV3FY8
- WKN A40JNA
- Bloomberg MFMCI1U LX
- CUSIP L63678327
- Maximum Sales Charge --
- Benchmark MSCI World Value Index (net div)
MANAGERS
Top 10 Holdings
As of 28-Feb-25- National Grid PLC
- Ryanair Holdings PLC ADR
- Airbus SE
- CSX Corp
- Davide Campari-Milano NV
- Autoliv Inc
- Veolia Environnement SA
- Cie Generale des Etablissements Michelin SCA
- Novozymes AS
- Canadian Pacific Kansas City Ltd
Anne Christine Farstad
Portfolio Manager
23YEARS WITH INDUSTRY
1YEAR WITH PORTFOLIOAnne-Christine (AC) Farstad is an investment officer and equity portfolio manager for the Contrarian Value strategies at MFS Investment Management® (MFS®). In this role, she is responsible for final buy and sell decisions, portfolio construction, risk and cash management. She also participates in the research process and strategy discussions. She is based in London. AC joined MFS in 2005 as an equity research analyst before assuming her current role in 2015. Before joining the firm, she worked for two years as an equity research analyst following European and US companies for Bailey Coates Asset Management. She also spent one year in the Global Equity Hedge Fund Sales group for UBS in London. She began her career in the financial services industry in 2002. AC earned a Master of Arts degree in literature from the University of Cambridge.
Zahid Kassam, CFA
Portfolio Manager
18YEARS WITH INDUSTRY
1YEAR WITH PORTFOLIOZahid Kassam, CFA, is an investment officer and equity portfolio manager for the Contrarian Value strategies at MFS Investment Management® (MFS®). In this role, 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. He is based in Toronto. Zahid joined MFS in 2013 as an equity research analyst and assumed portfolio management responsibilities in 2021. He previously spent two years as a senior analyst at the Ontario Teachers' Pension Plan's private equity arm and two years as a mergers and acquisitions investment banking analyst at RBC Capital Markets. He began his career in the financial services industry in 2007. Zahid earned a Bachelor of Arts degree in business administration with Ivey Scholar honors from Ivey Business School at the University of Western Ontario and a Master of Business Administration degree from Harvard Business School. He holds the Chartered Financial Analyst (CFA) designation.
Paul Fairbrother, ASIP
Institutional Portfolio Manager
31YEARS WITH INDUSTRY
1YEAR WITH PORTFOLIOPaul Fairbrother, ASIP, is an investment officer and institutional equity 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 is also responsible for communicating investment policy, strategy and positioning. He is based in London. Paul joined MFS in 2019 in his current role after five years at Sarasin & Partners as a business partner and client account director. Prior to that, he served as a European equity portfolio manager, European equity analyst and UK equity portfolio manager for UBS Asset Management over the course of his 21-year tenure there. He began his career in the financial services industry in 1993. Paul earned a bachelor's degree in business economics from the University of Reading. He is a member of the CFA Institute and an Associate of the CFA Society of the UK (ASIP).
Benjamin Tingling, CAIA
Institutional Portfolio Manager
19YEARS WITH INDUSTRY
1YEAR 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).