MFS US Large Cap Value Strategy - Retirement of Portfolio Manager

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. The fund is established as a segregated fund under the Insurance Companies Act (Canada).

In the third quarter of 2024, MFS Investment Management (MFS) announced that Nevin Chitkara will retire in May 2026. Chitkara is a Portfolio Manager (PM) on the MFS U.S. Large Cap Value Fund. Chitkara has spent 27 years with the firm and has been a member of the portfolio management team since 2006.

MFS also announced that effective December 31, 2024, Thomas Crowley will join Chitkara and Katie Cannan, on the portfolio management team.  Cannan joined the firm in 2013 and has been a member of the portfolio management team since December 2019. Crowley joined MFS in 2007 and serves as a US Equity research analyst.

GRS Investment Solutions team view:

Nevin Chitkara is the strategy’s longest tenured PM and his retirement will be a loss for the strategy. Katie Cannan’s tenure on the portfolio management team, working alongside Nevin Chitkara provides continuity in decision-making going forward. MFS has developed this succession plan well in advance. The long lead time provided will allow Chitkara to transition responsibilities and allow Crowley to learn from working alongside the portfolio management team and further develop the skills needed to be a portfolio manager. Crowley’s long tenure with the firm’s equity research team gives us comfort that he is very well steeped in the MFS investment philosophy and process. 

We intend to meet with Crowley around the time of the transition. We will continue to evaluate these changes and provide further updates if necessary. 

Questions?

Please contact your Sun Life Group Retirement Services representative.