Portfolio Manager Change to the MFS International Equity Fund
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).
This is an update only and you don’t need to take any action as a result of this news.
In Q1 2025, MFS announced that Daniel Ling, Portfolio Manager (PM) of the MFS International Equity fund will be retiring on June 30, 2026. Ling joined MFS in 2006 and has been a PM on the strategy since 2009.
Filipe Benzinho, co-PM on the strategy, will continue to manage the fund going forward. Benzinho joined MFS in 2009 and has been a PM on the strategy since 2016. Benzinho is based in London and was previously a European Equity Research Analyst prior to joining the MFS International Equity PM team.
Additionally, as of May 1, 2025, Harry Purcell joined the PM team for the MFS International Equity fund as co-PM. Purcell joined MFS in 2012 and has been a PM on the MFS Emerging Markets strategy since 2017. Purcell relinquished his PM responsibilities on the MFS Emerging Markets strategy effective May 1, 2025, in order to focus solely on the MFS International Equity strategy.
MFS uses a team approach that relies on analyst recommendations to manage their investment portfolios. MFS indicated that the investment philosophy and process won’t change as a result of the changes to the PM team.
GRS Investment Solutions View
Daniel Ling is the most experienced and longest-tenured PM on MFS International Equity and his retirement will be a loss for the strategy. However, we are comfortable with the changes. MFS has provided over one year of transition for Ling’s succession. This will allow Ling to transition responsibilities and Purcell to learn from working alongside him. Purcell’s prior PM experience will be beneficial and should make the transition easier. Ling and Benzinho have worked together successfully for the past eight years and Benzinho will provide continuity in the decision-making process going forward.
We have placed MFS International Equity under Additional Monitoring (least severe category) on the GRS Watch List. We intend to meet with MFS, once Purcell has settled into his new role. We’ll continue to evaluate these changes and provide further updates if necessary.
Questions?
Please contact your Sun Life Group Retirement Services Representative*.
*In Quebec, registered as a Group Annuity Plans Advisor.