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 funds listed below, which are established as segregated funds under the Insurance Companies Act (Canada).

In Q1 2023, MFS announced that Global Fixed Income Portfolio Manager (PM) Henry Peabody left the firm to pursue an external opportunity. Peabody joined MFS in 2019 and has 22 years of industry experience. He was a sector portfolio manager with a focus on Global Investment Grade Credit. He also provided input on asset allocation and security selections.

Following Peabody’s departure, John “Jay” Mitchell joined the PM team to take over Peabody’s responsibilities. Mitchell joined MFS in 2000 and has been a member of MFS’ fixed income team since 2003. He is PM on the MFS Emerging Corporate Debt strategy and a fixed income research analyst.

Pilar Gomez-Bravo and Robert Spector continue to be the lead portfolio managers for the Global Fixed Income fund.

Investment Solutions View:

It’s relatively rare for MFS to have a portfolio manager depart suddenly for an external opportunity. Henry Peabody was an important contributor to the investment grade component of Global Fixed Income. However, Pillar Gomez-Bravo and Robert Spector continue to have ultimate accountability for the strategy. They’ll continue to be supported by three additional sector portfolio managers (including Mitchell, formerly Peabody), who provide input in their areas of expertise. Mitchell brings extensive knowledge and experience in Global Investment Grade Credit to the role. Despite the sudden change, we’re comfortable with the team and will provide further updates a necessary.

Do you have to take any action?

You and your members don’t have to take any action as a result of these changes.


Please contact your Sun Life Group Retirement Services representative.