Organizational changes at MFS Investment Management
Plan sponsors may wish to consider whether this investment news has any implications for the investment options available within their plans. Sun Life Assurance Company of Canada purchases units of the fund listed below, which is established as a segregated fund in accordance with the Insurance Companies Act (Canada).
MFS Investment Management (MFS) has announced that David Mannheim will retire within the next 12 to 24 months. Mr. Mannheim has served as a portfolio manager on the MFS Global Equity Fund (the Fund) since 1992.
Coinciding with the above announcement, effective September 30, 2016, Ryan McAllister will join Mr. Mannheim and Roger Morley as a member of the portfolio management team of the Fund.
Mr. McAllister joined MFS as a research analyst in 2007 and brings 13 years of industry experience to the role. He currently serves as both the U.S. and co-Global Energy sector team leader, with coverage of the Oil Services and Exploration & Production industries. He is also a member of the Telecom sector team, covering the U.S. Cable industry.
Mr. Morley has been with MFS since 2002 and has served as a co-portfolio manager of the Fund since 2009.
MFS has confirmed that the investment objective and approach of the Fund will remain unchanged.
SunINsight Watch List
Following these changes, Sun Life Financial has placed the Fund on its Watch List in the Additional Monitoring category. Mr. Mannheim is an important part of the MFS Global Equity team and his experience will be missed. Mr. McAllister is a well-regarded analyst at MFS and should benefit the Fund's portfolio management team. We will carefully monitor the integration of Mr. McAllister in the upcoming months. We are confident that a lengthy transition period, the continuity of Co-Portfolio Manager Roger Morley, MFS' team-based approach, and the deep firm resources in global equity will all serve to mitigate the impact of Mr. Mannheim's departure.
In December 2013, this Fund was closed to new investors following MFS's decision to manage capacity. For that reason, this Fund is not actively marketed on Sun Life's Core investment platform, however governance activities for the Fund continue indefinitely.
Please contact your Sun Life Financial Group Retirement Services representative.