Morningstar Rating

Fund Research and Analysis

by Bridget B. Hughes, CFA
MFS Growth has belied its risks, but they shouldn't be forgotten.

This is one of MFS' more-aggressive stock funds. In part, that's because manager Eric Fischman, who's been on board here since early 2002 but running solo since 2004, is willing to look further out than many growth funds, which can mean he's willing to pay higher current valuations if he thinks a stock's earnings "power and duration" are impressive enough.  Read more 

Kudos

Good performance under current manager and approach. Read more 

Risks

Management's style courts price risk. Read more 

Strategy

This fund is among the most aggressive offerings in MFS' lineup. It started as a small-cap option, and then it was divided up into mid- and large-cap sleeves. Now it uses a multi-cap approach. The fund's manager favors companies with sustainably growing earnings and high return on invested capital, and the offering keeps a healthy stash of mid-cap names.  Read more 

Management

Eric Fischman has worked on this fund since 2002 and has been the lead manager since April 2004. Fischman also began managing MFS Mid-Cap Growth OTCAX along with David DeGroff in late 2008, using the same style he employs here. Fischman looks to MFS' pool of research analysts to help generate and vet stock ideas.  Read more 

Inside Scoop

This gutsy fund abandoned its sleeve structure in April 2004, and its current portfolio of more-aggressive stocks is now run by a single manager. This fund's average market cap is much smaller than the typical large-growth peer, as it includes a healthy dose of mid-cap stocks and some small-cap holdings.  Read more 

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