INVESTMENT OBJECTIVE
Seeks capital appreciation.
INVESTMENT FOCUS
An international growth fund focused on small- and mid-cap international stocks with valuations in line with fundamental strengths and growth prospects
Emphasis on high-quality companies drives this fund to seek companies with durable competitive advantages and strong management teams
Seeks companies that we believe can compound growth at above-average rates over a long-term investing horizon
Fund Information
- Fund Commencement 10/09/1997
- Net Assets ($ M) As of 02/28/25 $5898.16
- Fiscal Year End SEPTEMBER
-
Benchmark
The MSCI All Country World (ex-US) Small Mid Cap Index is a free float weighted index that is designed to measure equity market performance of small and mid cap companies across global developed and emerging market countries, excluding the United States.MSCI All Country World (ex-US) Small Mid Cap Index (net div)
Share Class Information
- Class Inception 10/09/1997
- Net Asset Value (NAV) As of 03/14/25 $30.93
- Most Recent NAV Change As of 03/14/25 $0.31 | 1.01%
- Fund Number 874
- Maximum Sales Charge --
-
Gross Expense Ratio
1.06%
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
1.05%
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 01/31/26
MANAGERS
Effective May 1, 2025, Lionel Gomez will no longer manage the portfolio.
Top 10 Holdings
- Dollarama Inc
- Obic Co Ltd
- Symrise AG
- NS Solutions Corp
- Agnico Eagle Mines Ltd
- Sodexo SA
- Cellnex Telecom SA
- Breedon Group PLC
- Techtronic Industries Co Ltd
- GEA Group AG
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.
Emerging Markets: Emerging markets can have less market structure, depth, and regulatory, custodial or operational oversight and greater political, social, geopolitical and economic instability than developed markets.
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.
Small-cap: Investments in small-cap companies can be more volatile than investments in larger companies.
Please see the prospectus for further information on these and other risk considerations.
Peter Fruzzetti
Portfolio Manager
Peter Fruzzetti is an investment officer and equity portfolio manager for the International New Discovery, European Smaller Companies and Global New Discovery 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 London. Peter joined MFS in 2000 as an equity research analyst and assumed his current role in 2004. Prior to joining MFS, he worked for Fidelity Investments for six years, serving as an equity research analyst and select portfolio manager. He began his career in the financial services industry in 1993. Peter earned his Bachelor of Science degree in finance from Boston College.
Lionel Gomez, CFA
Portfolio Manager
Lionel Gomez is an investment officer and equity portfolio manager for the International Small-Mid Cap strategy 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 Singapore. Lionel joined MFS in 2013 as an equity research analyst and assumed portfolio management responsibilities in 2021. He previously served as a portfolio manager at Nomura Asset Management for three years and a deputy fund manager at Deutsche Asset Management Asia for four years. Lionel earned a Bachelor of Science degree in engineering from the University of Michigan.
Robert Lau, CFA
Portfolio Manager
Robert W. Lau, CFA, is an investment officer and portfolio manager for MFS Investment Management® (MFS®). He is a member of the emerging market equity and international small-cap portfolio management teams. He is based in MFS' Singapore office.
Robert joined MFS in 2001 as a research analyst and was named portfolio manager in 2008. Previously, he was a portfolio manager for Goldman Sachs Asset Management from 1998 to 2001 and an equity analyst at J.P. Morgan Investment Management from 1996 to 1998.
Robert earned a Bachelor of Science degree from Massachusetts Institute of Technology and holds the Certified Financial Analyst 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.
Sandeep Mehta
Portfolio Manager
Sandeep Mehta is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). As a member of the portfolio management teams for MFS' European Small Cap Equity and Global Small-Mid Cap strategies, 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 London. Sandeep joined MFS in 2008 as a research analyst and was named portfolio manager in 2016. Before joining the firm, he was an equity research analyst with Henderson Global Investors. He also served as a software engineer with eTouch Systems for two years and with Verisign for two years, as well as working as an associate consultant at CITIL for two years. Sandeep earned a Bachelor of Science degree from the Indian Institute of Technology (BHU) and holds a Master of Business Administration degree from the London Business School.
Nicholas Spratt, CFA
Portfolio Manager
Nicholas E. Spratt, CFA, is an equity research analyst with MFS Investment Management® (MFS®). In this role, he is responsible for identifying the most attractive investment opportunities in his assigned universe, and he works closely with portfolio managers to ensure ideas are properly positioned within portfolios. He is based in Tokyo. Nicholas joined MFS in 2017 in his current role from PAG Investments, where he was a portfolio manager responsible for Asian equity strategies for four years. He previously worked for Centaurus Capital as a senior analyst, and Thaddeus Capital Management, where he was a partner for five years. He also worked for Lehman Brothers from 2000 to 2007 in Hong Kong and Tokyo as a senior vice president, and spent two years with Hunter Douglas' marketing group in Sydney as a product manager. Nicholas received a Bachelor of Industrial Design degree from the University of New South Wales and a Master of Business Administration degree from their business arm, Australian Graduate School of Management. He also earned a Masters of Ancient History degree from Macquarie University. He holds the Chartered Financial Analyst (CFA) designation.
Performance
Average Annual Total Returns (%)
Important Performance Information
Sales Charges
Class I shares are available without a sales charge to eligible investors.
Annual Rate of Return (%)
As of 12/31/24 | Benchmark: MSCI All Country World (ex-US) Small Mid Cap Index (net div)| 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|
| At NAV | 2.72 | 0.50 | 32.04 | -10.42 | 22.86 | 9.96 | 4.93 | -18.60 | 13.01 | 0.93 |
| MSCI All Country World (ex-US) Small Mid Cap Index (net div) | 0.44 | 3.57 | 30.35 | -17.06 | 22.36 | 12.01 | 10.16 | -19.49 | 15.79 | 3.49 |
| At NAV | MSCI All Country World (ex-US) Small Mid Cap Index (net div) | |
|---|---|---|
| 2024 | 0.93 | 3.49 |
| 2023 | 13.01 | 15.79 |
| 2022 | -18.6 | -19.49 |
| 2021 | 4.93 | 10.16 |
| 2020 | 9.96 | 12.01 |
| 2019 | 22.86 | 22.36 |
| 2018 | -10.42 | -17.06 |
| 2017 | 32.04 | 30.35 |
| 2016 | 0.5 | 3.57 |
| 2015 | 2.72 | 0.44 |
Pricing History
- NAV at Close of Trading on: 03/14/25
- Net Asset Value (NAV): $30.93
- Change ($) (since 03/13/25 ): 0.31
- Change (%) (since 03/13/25 ): 1.01
- 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 03/15/25
| Record Date | Ex-Date | Payable Date | Type of Earnings | Rate per Share (US$) | Reinvestment NAV (US$) |
|---|---|---|---|---|---|
| 12/09/24 | 12/10/24 | 12/11/24 | Short Term Capital Gain | 0.10533 | 30.98 |
| 12/09/24 | 12/10/24 | 12/11/24 | Dividend | 0.74193 | 30.98 |
| 12/09/24 | 12/10/24 | 12/11/24 | Long Term Capital Gain | 1.41708 | 30.98 |
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Overview
INVESTMENT OBJECTIVE
Seeks capital appreciation.
INVESTMENT FOCUS
An international growth fund focused on small- and mid-cap international stocks with valuations in line with fundamental strengths and growth prospects
Emphasis on high-quality companies drives this fund to seek companies with durable competitive advantages and strong management teams
Seeks companies that we believe can compound growth at above-average rates over a long-term investing horizon
Fund Information
- Fund Commencement 10/09/1997
- Net Assets ($ M) As of 02/28/25 $5898.16
- Fiscal Year End SEPTEMBER
-
Benchmark
The MSCI All Country World (ex-US) Small Mid Cap Index is a free float weighted index that is designed to measure equity market performance of small and mid cap companies across global developed and emerging market countries, excluding the United States.MSCI All Country World (ex-US) Small Mid Cap Index (net div)
Share Class Information
- Class Inception 10/09/1997
- Net Asset Value (NAV) As of 03/14/25 $30.93
- Most Recent NAV Change As of 03/14/25 $0.31 | 1.01%
- Fund Number 874
- Maximum Sales Charge --
-
Gross Expense Ratio
1.06%
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
1.05%
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 01/31/26
MANAGERS
Effective May 1, 2025, Lionel Gomez will no longer manage the portfolio.
Top 10 Holdings
As of 02/28/25- Dollarama Inc
- Obic Co Ltd
- Symrise AG
- NS Solutions Corp
- Agnico Eagle Mines Ltd
- Sodexo SA
- Cellnex Telecom SA
- Breedon Group PLC
- Techtronic Industries Co Ltd
- GEA Group AG
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.
Emerging Markets: Emerging markets can have less market structure, depth, and regulatory, custodial or operational oversight and greater political, social, geopolitical and economic instability than developed markets.
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.
Small-cap: Investments in small-cap companies can be more volatile than investments in larger companies.
Please see the prospectus for further information on these and other risk considerations.
Peter Fruzzetti
Portfolio Manager
32YEARS WITH INDUSTRY
20YEARS WITH PORTFOLIOPeter Fruzzetti is an investment officer and equity portfolio manager for the International New Discovery, European Smaller Companies and Global New Discovery 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 London. Peter joined MFS in 2000 as an equity research analyst and assumed his current role in 2004. Prior to joining MFS, he worked for Fidelity Investments for six years, serving as an equity research analyst and select portfolio manager. He began his career in the financial services industry in 1993. Peter earned his Bachelor of Science degree in finance from Boston College.
Lionel Gomez, CFA
Portfolio Manager
19YEARS WITH INDUSTRY
4YEARS WITH PORTFOLIOLionel Gomez is an investment officer and equity portfolio manager for the International Small-Mid Cap strategy 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 Singapore. Lionel joined MFS in 2013 as an equity research analyst and assumed portfolio management responsibilities in 2021. He previously served as a portfolio manager at Nomura Asset Management for three years and a deputy fund manager at Deutsche Asset Management Asia for four years. Lionel earned a Bachelor of Science degree in engineering from the University of Michigan.
Robert Lau, CFA
Portfolio Manager
31YEARS WITH INDUSTRY
17YEARS WITH PORTFOLIORobert W. Lau, CFA, is an investment officer and portfolio manager for MFS Investment Management® (MFS®). He is a member of the emerging market equity and international small-cap portfolio management teams. He is based in MFS' Singapore office.
Robert joined MFS in 2001 as a research analyst and was named portfolio manager in 2008. Previously, he was a portfolio manager for Goldman Sachs Asset Management from 1998 to 2001 and an equity analyst at J.P. Morgan Investment Management from 1996 to 1998.
Robert earned a Bachelor of Science degree from Massachusetts Institute of Technology and holds the Certified Financial Analyst 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.
Sandeep Mehta
Portfolio Manager
18YEARS WITH INDUSTRY
5YEARS WITH PORTFOLIOSandeep Mehta is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). As a member of the portfolio management teams for MFS' European Small Cap Equity and Global Small-Mid Cap strategies, 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 London. Sandeep joined MFS in 2008 as a research analyst and was named portfolio manager in 2016. Before joining the firm, he was an equity research analyst with Henderson Global Investors. He also served as a software engineer with eTouch Systems for two years and with Verisign for two years, as well as working as an associate consultant at CITIL for two years. Sandeep earned a Bachelor of Science degree from the Indian Institute of Technology (BHU) and holds a Master of Business Administration degree from the London Business School.
Nicholas Spratt, CFA
Portfolio Manager
25YEARS WITH INDUSTRY
4YEARS WITH PORTFOLIONicholas E. Spratt, CFA, is an equity research analyst with MFS Investment Management® (MFS®). In this role, he is responsible for identifying the most attractive investment opportunities in his assigned universe, and he works closely with portfolio managers to ensure ideas are properly positioned within portfolios. He is based in Tokyo. Nicholas joined MFS in 2017 in his current role from PAG Investments, where he was a portfolio manager responsible for Asian equity strategies for four years. He previously worked for Centaurus Capital as a senior analyst, and Thaddeus Capital Management, where he was a partner for five years. He also worked for Lehman Brothers from 2000 to 2007 in Hong Kong and Tokyo as a senior vice president, and spent two years with Hunter Douglas' marketing group in Sydney as a product manager. Nicholas received a Bachelor of Industrial Design degree from the University of New South Wales and a Master of Business Administration degree from their business arm, Australian Graduate School of Management. He also earned a Masters of Ancient History degree from Macquarie University. He holds the Chartered Financial Analyst (CFA) designation.
-
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 03/14/25 , 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 I shares are available without a sales charge to eligible investors.
Annual Rate of ReturnAnnual Rate of Return (%)
As of 12/31/24 | Benchmark: MSCI All Country World (ex-US) Small Mid Cap Index (net div)annual rate of return table 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 At NAV 2.72 0.50 32.04 -10.42 22.86 9.96 4.93 -18.60 13.01 0.93 MSCI All Country World (ex-US) Small Mid Cap Index (net div) 0.44 3.57 30.35 -17.06 22.36 12.01 10.16 -19.49 15.79 3.49 At NAV MSCI All Country World (ex-US) Small Mid Cap Index (net div) 2024 0.93 3.49 2023 13.01 15.79 2022 -18.6 -19.49 2021 4.93 10.16 2020 9.96 12.01 2019 22.86 22.36 2018 -10.42 -17.06 2017 32.04 30.35 2016 0.5 3.57 2015 2.72 0.44 Pricing & DistributionsPricing History
- NAV at Close of Trading on: 03/14/25
- Net Asset Value (NAV): $30.93
- Change ($) (since 03/13/25 ): 0.31
- Change (%) (since 03/13/25 ): 1.01
- 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 03/15/25
Record Date Ex-Date Payable Date Type of Earnings Rate per Share (US$) Reinvestment NAV (US$) 12/09/24 12/10/24 12/11/24 Short Term Capital Gain 0.10533 30.98 12/09/24 12/10/24 12/11/24 Dividend 0.74193 30.98 12/09/24 12/10/24 12/11/24 Long Term Capital Gain 1.41708 30.98 Past performance is no guarantee of future results. Please consult your tax advisor for further information.