MFS Investment Management, formerly Massachusetts Financial Services, is a Boston, Massachusetts-based financial services firm. In its publicity, MFS is noted for inventing the mutual fund. The current chair of the company is Robert Pozen.
MFS Investment Management began as Massachusetts Investors Trust, the nation's first open-ended mutual fund, in Boston in 1924. In 1934 the Trust acquired the assets of the former Supervised Shares fund from Brown Brothers, Harriman & Co., and later renamed it Massachusetts Investors Growth Stock Fund. In 1969, as the Trust began to introduce additional funds, it set up a management company, Massachusetts Financial Services, which today is doing business as MFS Investment Management. MFS is owned by Sun Life Insurance of Canada.
As of December 31, 2007, MFS had approximately 200 billion dollars in assets under management. It has 15 offices worldwide and employs 1,700 employees. Source: MFS Investment Management.
