EUROPE/US - US investment manager MFS International has introduced three new European funds open to institutional investors.
The MFS European Equity Value Fund and MFS European Equity Growth Fund are both new offerings. A third fund - MFS Emerging Markets Debt - clones of an existing MFS product. All three offerings are domiciled in Luxembourg.
Both the growth and value funds can invest in companies of any size and are denominated in Euros. They will be managed by Barry Dargan and Steve Gorham respectively.
Commenting on the emerging markets fund, MFS said that the launch was driven by a lack of opportunity for European clients to investment in the asset class.
Olivier Lebleu, MFS director, said: “We already run a [similar] fund as part of our Cayman-based fund range. The [emerging market debt] fund has the unique advantage of being co-run by two managers who both worked for the IMF and therefore have considerable experience.”
The fund invests in government and corporate debt and is valued in US dollars. It will be managed by Matt Ryan and Mark Dow.
The minimum investment level for all three funds is E6000 or US$5000, with subsequent investments of E/US$1000.
MFS International is part of Boston-based MFS Investment Management. The funds are registered in Austria, Belgium, Czech Republic, Finland, France, Germany, Greece, Hong Kong, Italy, Luxembourg, The Netherlands, Norway, Spain, Sweden and Switzerland.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.
Labour Party plans to renationalise core industries and require the largest listed companies to hand 10% of shares to employees would be a "double whammy" for pensions, business leaders have warned.