Prudent Investor Fund
Effective February 21, 2025, the fund will be liquidated. In anticipation of the liquidation, the fund will be closed to new investors on December 31, 2024.
The term "prudent investor" can suggest different meanings to different investors and the use of the term "prudent investor" in the fund's name is not meant to suggest the fund will follow a specific investment strategy other than the principal investment strategies disclosed in the fund's prospectus.
INVESTMENT OBJECTIVE
Seeks Capital Appreciation.
INVESTMENT FOCUS
Ability to invest in cash, cash equivalents and derivatives to manage market exposure and downside risk
Concentrated portfolio of global stocks and bonds; unfettered by benchmark constraints
Invest with a long-term focus, with an emphasis on absolute, not relative value
Fund Information
- Fund Commencement 01/18/2018
- Net Assets ($ M) As of 12/31/24 $27.44
- Fiscal Year End JUNE
-
Benchmark
MSCI World Index measures stock markets in the developed world.MSCI World Index (net div)
Share Class Information
- Class Inception 01/18/2018
- Net Asset Value (NAV) As of 02/06/25 $12.04
- Most Recent NAV Change As of 02/06/25 $0.00 | 0.00%
- Fund Number 4569
- Maximum Sales Charge --
-
Gross Expense Ratio
1.72%
Gross Expense Ratio: The Gross Expense Ratio is the fund's total operating expense ratio from the fund's most recent prospectus.
-
Net Expense Ratio
0.99%
Net Expense Ratio: The Net Expense Ratio reflects the reduction of expenses from contractual fee waivers and reimbursements. Elimination of these reductions will result in higher expenses and lower performance.
These reductions will continue until at least 10/31/25
Class R4 shares are available to eligible investors.
MANAGERS
Fund Positioning (%)
| Active Security Selection | Derivative Positions 1 | Net Exposure | |
|---|---|---|---|
| Equity | 52.87% | 51.04% | |
| Gold Related Investments | 2.31% | ||
| -4.14% | |||
| Euro Stoxx 50 Index Option PUT(s) | |||
| Euro Stoxx 50 Index Option SEP 19 25 P3500 OTC* | -0.31% | ||
| Russell 2000 Index Option PUT(s)* | |||
| Russell 2000 Index DEC 19 25 P1400 OTC* | -0.19% | ||
| Russell 2000 Index JUN 20 25 P1700 OTC* | -0.28% | ||
| Euro Stoxx 50 Index PUT(s) | |||
| Euro Stoxx 50 Index SEP 19 25 P3800 OTC* | -0.56% | ||
| Euro Stoxx 50 Index DEC 19 25 P4000 OTC* | -1.01% | ||
| Standard and Poors 500 Index Option PUT(s)* | |||
| Standard & Poors Index Option MAR 21 25 P4600 OTC* | 0.14% | ||
| Standard & Poors 500 Index MAR 21 25 P5200 OTC* | -0.59% | ||
| Standard & Poors Index Option MAR 21 25 P5400 OTC* | -0.61% | ||
| Standard & Poors 500 Index JUN 20 25 P4800 OTC* | -0.72% | ||
| Debt Instruments, excluding Short-Term Government Securities | 18.74% | 18.74% | |
| Cash, Cash Equivalents, and Short-Term Government Securities2 | 23.98% | ||
| Other3 | 6.24% | ||
| Total Net Exposure Summary | 100.00% | ||
Market exposure of derivative position utilized to adjust fund market exposure.
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.
Bond: Investments in debt instruments may decline in value as the result of, or perception of, declines in the credit quality of the issuer, borrower, counterparty, or other entity responsible for payment, underlying collateral, or changes in economic, political, issuer-specific, or other conditions. Certain types of debt instruments can be more sensitive to these factors and therefore more volatile. In addition, debt instruments entail interest rate risk (as interest rates rise, prices usually fall). Therefore, the portfolio's value may decline during rising rates. Portfolios that consist of debt instruments with longer durations are generally more sensitive to a rise in interest rates than those with shorter durations. At times, and particularly during periods of market turmoil, all or a large portion of segments of the market may not have an active trading market. As a result, it may be difficult to value these investments and it may not be possible to sell a particular investment or type of investment at any particular time or at an acceptable price. The price of an instrument trading at a negative interest rate responds to interest rate changes like other debt instruments; however, an instrument purchased at a negative interest rate is expected to produce a negative return if held to maturity.
International: Investments in foreign markets can involve greater risk and volatility than U.S. investments because of adverse market, currency, economic, industry, political, regulatory, geopolitical, or other conditions.
Derivatives: Investments in derivatives can be used to take both long and short positions, be highly volatile, involve leverage (which can magnify losses), and involve risks in addition to the risks of the underlying indicator(s) on which the derivative is based, such as counterparty and liquidity risk.
Value: The portfolio's investments can continue to be undervalued for long periods of time, not realize their expected value, and be more volatile than the stock market in general.
Growth: Investments in growth companies can be more sensitive to the company's earnings and more volatile than the stock market in general.
High Yield: Investments in below investment grade quality debt instruments can be more volatile and have greater risk of default, or already be in default, than higher-quality debt instruments.
Strategy: There is no assurance that the portfolio will achieve a positive rate of return or have lower volatility than the global equity markets, as represented by the MSCI World Index, over the long term or for any year or period of years. In addition, the strategies MFS may implement to limit the portfolio's exposure to certain extreme market events may not work as intended, and the costs associated with such strategies will reduce the portfolio's returns. It is expected that the portfolio will generally underperform the equity markets during periods of strong, rising equity markets.
Please see the prospectus for further information on these and other risk considerations.
David Cole, CFA
Portfolio Manager
David P. Cole, CFA, is an investment officer of MFS Investment Management® (MFS®). He is also a co-portfolio manager of the firm's high-yield portfolios.
David joined MFS in 2004 after working for five years as a high-yield analyst for Franklin Templeton Investments. Before that, he served as a financial economist/Treasury market analyst for Thomson Financial Services and an economist for Standard and Poor's.
David has a bachelor's degree from Cornell University and an MBA from University of California, Berkeley. He holds the Chartered Financial Analyst (CFA) designation.
Our portfolio managers are supported by our entire team of investment professionals in nine worldwide offices. The team employs a proprietary investment process to build better insights for our clients. The core principles of our approach are integrated research, global collaboration, and active risk management.
Shanti Das-Wermes
Portfolio Manager
Shanti Das-Wermes is an investment officer, equity research analyst, sector leader and portfolio manager at MFS Investment Management® (MFS®). As an analyst, he is responsible for identifying the most attractive investment opportunities in his assigned universe and works closely with portfolio managers to ensure investment ideas are properly positioned within MFS portfolios. Within the Prudent strategies, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He is based in London. Shanti joined MFS in 2011 after participating in the firm's MBA analyst intern program. He assumed international financial sector leadership in 2019 and assumed portfolio manager responsibilities in 2022. Prior analyst coverage included consumer staples, building materials & infrastructure, telecoms & cable as well as banks and diversified financials. He was previously an associate with Audax Private Equity for two years and served as a business analyst at McKinsey & Company for two years. Shanti attended the London School of Economics and earned a Summa Cum Laude Bachelor of Arts degree in Economics and Political Science from Indiana University and a Master of Business Administration degree from Harvard Business School.
Edward Dearing
Portfolio Manager
Edward J. Dearing is an investment officer and equity portfolio manager at MFS Investment Management (MFS). In this role, he is responsible for final buy and sell decisions, portfolio construction, risk and cash management. He also participates in the research process and strategy discussions. He is based in London.
Edward joined MFS in 2014 as an equity research analyst and took on portfolio management responsibilities for the firm's Prudent Capital strategy in 2018. Prior to joining the firm, he worked at Deutsche Bank AG. Before that, he worked for three years as an attorney with Covington & Burling LLP and for three years at Clifford Chance LLP.
Edward earned his Master of Arts degree in Law with honors from Cambridge University and a Master of Business Administration degree from the London Business School.
Performance
Average Annual Total Returns (%)
Important Performance Information
Sales Charges
Class R4 shares have no initial sales charge or CDSC. Shares are available to eligible investors.
Annual Rate of Return (%)
As of 12/31/24 | Benchmark: MSCI World Index (net div)| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| At NAV | 14.23 | 11.27 | 1.80 | -13.75 | 15.44 | 4.53 |
| MSCI World Index (net div) | 27.67 | 15.90 | 21.82 | -18.14 | 23.79 | 18.67 |
| At NAV | MSCI World Index (net div) | |
|---|---|---|
| 2024 | 4.53 | 18.67 |
| 2023 | 15.44 | 23.79 |
| 2022 | -13.75 | -18.14 |
| 2021 | 1.8 | 21.82 |
| 2020 | 11.27 | 15.9 |
| 2019 | 14.23 | 27.67 |
Pricing History
- NAV at Close of Trading on: 02/06/25
- Net Asset Value (NAV): $12.04
- Change ($) (since 02/05/25 ): 0.00
- Change (%) (since 02/05/25 ): 0.00
- Market Price (MP):
Historical NAV may not be available for all dates.
Historical MP may not be available for all dates.
Distributions
The Record Date is the date on which a fund declares a distribution. To receive the distribution, an investor must be a shareholder of record on that date.The Payable Date is the date on which the distribution is paid to shareholders.
Dividend Rate per Share is the amount of dividend that a shareholder will receive for each share held. It can be calculated by taking the total amount of dividends paid and dividing it by the total shares outstanding.
Dividend Reinvestment at NAV is the automatic reinvestment of shareholder dividends in more shares at net asset value.
Ex-Dividend Date is the date on which a fund goes ex-dividend. The interval between the announcement and the payment of the next dividend. An investor must own the fund before the ex-dividend date to be eligible for the dividend payout.
Long-term Capital Gain
The gain on the sale of a capital asset where the holding period was more than 12 months and the profit was subject to the long-term capital gains tax.
(Source: Barron's Dictionary of Finance and Investment Terms)
Short-term Capital Gain
For tax purposes the profit realized from the sale of securities or other capital assets held for less than 12 months. Short-term gains are taxable at ordinary income rates to the extent they are not reduced by offsetting capital losses.
(Source: Barron's Dictionary of Finance and Investment Terms)
The Payable Date is the date on which the distribution is paid to shareholders.
Dividend Rate per Share is the amount of dividend that a shareholder will receive for each share held. It can be calculated by taking the total amount of dividends paid and dividing it by the total shares outstanding.
Dividend Reinvestment at NAV is the automatic reinvestment of shareholder dividends in more shares at net asset value.
Ex-Dividend Date is the date on which a fund goes ex-dividend. The interval between the announcement and the payment of the next dividend. An investor must own the fund before the ex-dividend date to be eligible for the dividend payout.
Long-term Capital Gain The gain on the sale of a capital asset where the holding period was more than 12 months and the profit was subject to the long-term capital gains tax. (Source: Barron's Dictionary of Finance and Investment Terms)
Short-term Capital Gain For tax purposes the profit realized from the sale of securities or other capital assets held for less than 12 months. Short-term gains are taxable at ordinary income rates to the extent they are not reduced by offsetting capital losses. (Source: Barron's Dictionary of Finance and Investment Terms)
Updated Daily As of 02/06/25
| Record Date | Ex-Date | Payable Date | Type of Earnings | Rate per Share (US$) | Reinvestment NAV (US$) |
|---|---|---|---|---|---|
| 12/16/24 | 12/17/24 | 12/18/24 | Dividend | 0.37373 | 11.74 |
-
Overview
INVESTMENT OBJECTIVE
Seeks Capital Appreciation.
INVESTMENT FOCUS
Ability to invest in cash, cash equivalents and derivatives to manage market exposure and downside risk
Concentrated portfolio of global stocks and bonds; unfettered by benchmark constraints
Invest with a long-term focus, with an emphasis on absolute, not relative value
Fund Information
- Fund Commencement 01/18/2018
- Net Assets ($ M) As of 12/31/24 $27.44
- Fiscal Year End JUNE
-
Benchmark
MSCI World Index measures stock markets in the developed world.MSCI World Index (net div)
Share Class Information
- Class Inception 01/18/2018
- Net Asset Value (NAV) As of 02/06/25 $12.04
- Most Recent NAV Change As of 02/06/25 $0.00 | 0.00%
- Fund Number 4569
- Maximum Sales Charge --
-
Gross Expense Ratio
1.72%
Gross Expense Ratio: The Gross Expense Ratio is the fund's total operating expense ratio from the fund's most recent prospectus.
-
Net Expense Ratio
0.99%
Net Expense Ratio: The Net Expense Ratio reflects the reduction of expenses from contractual fee waivers and reimbursements. Elimination of these reductions will result in higher expenses and lower performance.
These reductions will continue until at least 10/31/25
Class R4 shares are available to eligible investors.
MANAGERS
Fund Positioning (%)
As of 12/31/24Active Security Selection Derivative Positions 1 Net Exposure Equity 52.87% 51.04% Gold Related Investments 2.31% -4.14% Euro Stoxx 50 Index Option PUT(s) Euro Stoxx 50 Index Option SEP 19 25 P3500 OTC* -0.31% Russell 2000 Index Option PUT(s)* Russell 2000 Index DEC 19 25 P1400 OTC* -0.19% Russell 2000 Index JUN 20 25 P1700 OTC* -0.28% Euro Stoxx 50 Index PUT(s) Euro Stoxx 50 Index SEP 19 25 P3800 OTC* -0.56% Euro Stoxx 50 Index DEC 19 25 P4000 OTC* -1.01% Standard and Poors 500 Index Option PUT(s)* Standard & Poors Index Option MAR 21 25 P4600 OTC* 0.14% Standard & Poors 500 Index MAR 21 25 P5200 OTC* -0.59% Standard & Poors Index Option MAR 21 25 P5400 OTC* -0.61% Standard & Poors 500 Index JUN 20 25 P4800 OTC* -0.72% Debt Instruments, excluding Short-Term Government Securities 18.74% 18.74% Cash, Cash Equivalents, and Short-Term Government Securities2 23.98% Other3 6.24% Total Net Exposure Summary 100.00% 1Market exposure of derivative position utilized to adjust fund market exposure.
3Other. Other consists of: (i) currency derivatives and/or (ii) any derivative offsets.*Short positions, unlike long positions, lose value if the underlying asset gains value.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.
Bond: Investments in debt instruments may decline in value as the result of, or perception of, declines in the credit quality of the issuer, borrower, counterparty, or other entity responsible for payment, underlying collateral, or changes in economic, political, issuer-specific, or other conditions. Certain types of debt instruments can be more sensitive to these factors and therefore more volatile. In addition, debt instruments entail interest rate risk (as interest rates rise, prices usually fall). Therefore, the portfolio's value may decline during rising rates. Portfolios that consist of debt instruments with longer durations are generally more sensitive to a rise in interest rates than those with shorter durations. At times, and particularly during periods of market turmoil, all or a large portion of segments of the market may not have an active trading market. As a result, it may be difficult to value these investments and it may not be possible to sell a particular investment or type of investment at any particular time or at an acceptable price. The price of an instrument trading at a negative interest rate responds to interest rate changes like other debt instruments; however, an instrument purchased at a negative interest rate is expected to produce a negative return if held to maturity.
International: Investments in foreign markets can involve greater risk and volatility than U.S. investments because of adverse market, currency, economic, industry, political, regulatory, geopolitical, or other conditions.
Derivatives: Investments in derivatives can be used to take both long and short positions, be highly volatile, involve leverage (which can magnify losses), and involve risks in addition to the risks of the underlying indicator(s) on which the derivative is based, such as counterparty and liquidity risk.
Value: The portfolio's investments can continue to be undervalued for long periods of time, not realize their expected value, and be more volatile than the stock market in general.
Growth: Investments in growth companies can be more sensitive to the company's earnings and more volatile than the stock market in general.
High Yield: Investments in below investment grade quality debt instruments can be more volatile and have greater risk of default, or already be in default, than higher-quality debt instruments.
Strategy: There is no assurance that the portfolio will achieve a positive rate of return or have lower volatility than the global equity markets, as represented by the MSCI World Index, over the long term or for any year or period of years. In addition, the strategies MFS may implement to limit the portfolio's exposure to certain extreme market events may not work as intended, and the costs associated with such strategies will reduce the portfolio's returns. It is expected that the portfolio will generally underperform the equity markets during periods of strong, rising equity markets.
Please see the prospectus for further information on these and other risk considerations.
David Cole, CFA
Portfolio Manager
31YEARS WITH INDUSTRY
7YEARS WITH PORTFOLIODavid P. Cole, CFA, is an investment officer of MFS Investment Management® (MFS®). He is also a co-portfolio manager of the firm's high-yield portfolios.
David joined MFS in 2004 after working for five years as a high-yield analyst for Franklin Templeton Investments. Before that, he served as a financial economist/Treasury market analyst for Thomson Financial Services and an economist for Standard and Poor's.
David has a bachelor's degree from Cornell University and an MBA from University of California, Berkeley. He holds the Chartered Financial Analyst (CFA) designation.
Our portfolio managers are supported by our entire team of investment professionals in nine worldwide offices. The team employs a proprietary investment process to build better insights for our clients. The core principles of our approach are integrated research, global collaboration, and active risk management.
Shanti Das-Wermes
Portfolio Manager
17YEARS WITH INDUSTRY
3YEARS WITH PORTFOLIOShanti Das-Wermes is an investment officer, equity research analyst, sector leader and portfolio manager at MFS Investment Management® (MFS®). As an analyst, he is responsible for identifying the most attractive investment opportunities in his assigned universe and works closely with portfolio managers to ensure investment ideas are properly positioned within MFS portfolios. Within the Prudent strategies, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He is based in London. Shanti joined MFS in 2011 after participating in the firm's MBA analyst intern program. He assumed international financial sector leadership in 2019 and assumed portfolio manager responsibilities in 2022. Prior analyst coverage included consumer staples, building materials & infrastructure, telecoms & cable as well as banks and diversified financials. He was previously an associate with Audax Private Equity for two years and served as a business analyst at McKinsey & Company for two years. Shanti attended the London School of Economics and earned a Summa Cum Laude Bachelor of Arts degree in Economics and Political Science from Indiana University and a Master of Business Administration degree from Harvard Business School.
Edward Dearing
Portfolio Manager
17YEARS WITH INDUSTRY
7YEARS WITH PORTFOLIOEdward J. Dearing is an investment officer and equity portfolio manager at MFS Investment Management (MFS). In this role, he is responsible for final buy and sell decisions, portfolio construction, risk and cash management. He also participates in the research process and strategy discussions. He is based in London.
Edward joined MFS in 2014 as an equity research analyst and took on portfolio management responsibilities for the firm's Prudent Capital strategy in 2018. Prior to joining the firm, he worked at Deutsche Bank AG. Before that, he worked for three years as an attorney with Covington & Burling LLP and for three years at Clifford Chance LLP.
Edward earned his Master of Arts degree in Law with honors from Cambridge University and a Master of Business Administration degree from the London Business School. -
Performance
Performance
Average Annual Total ReturnsAverage Annual Total Returns (%)
These results represent the percent change in net asset value.Monthly | Quarterly As of 12/31/24 (*YTD Updated Daily, As of 02/05/25 , subject to revision and not annualized.)Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value fluctuate so your shares, when sold, may be worth more or less than the original cost; current performance may be lower or higher than quoted.Important Performance Information
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable. All results are historical and assume the reinvestment of dividends and capital gains.Sales Charges
Class R4 shares have no initial sales charge or CDSC. Shares are available to eligible investors.
Annual Rate of ReturnAnnual Rate of Return (%)
As of 12/31/24 | Benchmark: MSCI World Index (net div)annual rate of return table 2019 2020 2021 2022 2023 2024 At NAV 14.23 11.27 1.80 -13.75 15.44 4.53 MSCI World Index (net div) 27.67 15.90 21.82 -18.14 23.79 18.67 At NAV MSCI World Index (net div) 2024 4.53 18.67 2023 15.44 23.79 2022 -13.75 -18.14 2021 1.8 21.82 2020 11.27 15.9 2019 14.23 27.67 Pricing & DistributionsPricing History
- NAV at Close of Trading on: 02/06/25
- Net Asset Value (NAV): $12.04
- Change ($) (since 02/05/25 ): 0.00
- Change (%) (since 02/05/25 ): 0.00
- 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
The Record Date is the date on which a fund declares a distribution. To receive the distribution, an investor must be a shareholder of record on that date.The Payable Date is the date on which the distribution is paid to shareholders.
Dividend Rate per Share is the amount of dividend that a shareholder will receive for each share held. It can be calculated by taking the total amount of dividends paid and dividing it by the total shares outstanding.
Dividend Reinvestment at NAV is the automatic reinvestment of shareholder dividends in more shares at net asset value.
Ex-Dividend Date is the date on which a fund goes ex-dividend. The interval between the announcement and the payment of the next dividend. An investor must own the fund before the ex-dividend date to be eligible for the dividend payout.
Long-term Capital Gain The gain on the sale of a capital asset where the holding period was more than 12 months and the profit was subject to the long-term capital gains tax. (Source: Barron's Dictionary of Finance and Investment Terms)
Short-term Capital Gain For tax purposes the profit realized from the sale of securities or other capital assets held for less than 12 months. Short-term gains are taxable at ordinary income rates to the extent they are not reduced by offsetting capital losses. (Source: Barron's Dictionary of Finance and Investment Terms)
Updated Daily As of 02/06/25
Record Date Ex-Date Payable Date Type of Earnings Rate per Share (US$) Reinvestment NAV (US$) 12/16/24 12/17/24 12/18/24 Dividend 0.37373 11.74 Past performance is no guarantee of future results. Please consult your tax advisor for further information.