MFS Investment Management, investment advisor for Massachusetts Investor Trust (MIT), America’s first open-end mutual fund, visits the NYSE to celebrate the 85th anniversary of the mutual fund. In honor of the occasion, MFS CEO Robert Manning rings The Closing Bell®.
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ABOUT MFS INVESTMENT MANAGEMENT
MFS Investment Management® is a premier global money management firm with investment offices in Boston, London, Mexico City, Singapore, Sydney and Tokyo. For eight and a half decades, MFS® has proudly served investors with leadership, innovation, and an unwavering commitment to the benefits of long-term investing. MFS manages $134 billion in assets on behalf of 5 million individual and institutional investors worldwide. This month MFS celebrates the 85th anniversary of America's first mutual fund, Massachusetts Investors Trust, founded in March 1924. (Source: MFS Investment Management)
Massachusetts Investors Trust (MIT)
Massachusetts Investors Trust (MIT) was established on March 21, 1924. MIT helped to transform investing for the public by being founded on the concepts of professional management, diversification, liquidity, and full transparency. Many of the pooled investment vehicles of the time were more highly concentrated and used leverage in the speculative market of the Roaring 20s, causing them to be wiped out by the Crash of 1929 and subsequent Depression. MIT's more conservative approach of focusing on high quality companies and avoidance of leverage, coupled with its ability to maintain investor confidence by consistently meeting redemption requests even at the height of the Depression, helped it weather that difficult period and ultimately emerge as the dominant form of investment product for the masses. (Source: MFS Investment Management)
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