This Large-Blend Fund's Future Is as Bright as Its Past
Silver-rated MFS Massachusetts Investors Trust has topped the vast majority of its peers over the long term on both an absolute and risk-adjusted basis.
Silver-rated MFS Massachusetts Investors Trust has topped the vast majority of its peers over the long term on both an absolute and risk-adjusted basis.
Andrew Daniels: Silver-rated MFS Massachusetts Investors Trust's (MITTX) deep team, sound process, and rock-bottom fees inspire confidence that its future is as bright as its past.
With roots going back to 1924, it's the oldest mutual fund in the U.S. and is today managed by MFS' research leaders, Kevin Beatty and Ted Maloney. The duo taps the firm's 90-plus analysts to carry out an investment process focused on identifying firms with durable franchises, stable balance sheets, and strong management. The managers expect these firms to generate above-average earnings and free cash flow growth over the long term.
The team typically holds firms for a minimum of three years--though often longer--and investors should expect turnover to remain low, as a result. In fact, all top-10 holdings have been held for more than five years, including Alphabet (GOOGL), Johnson & Johnson (JNJ), and Visa (V).
Since Beatty took the helm in 2004, the fund has shone, outperforming the S&P 500 and 90% of its large-blend peers on an absolute and risk-adjusted basis. Its long-term success has been driven by strong stock selection and its ability to hold up better than the benchmark in down markets, such as during the financial crisis and, more recently, since the S&P 500 peaked in May 2015.
Though the fund has struggled relative to the benchmark since the market bottomed in March 2009, it's poised to outperform over a full market cycle and is a great option for investors looking to build wealth over the long term.
Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.
We’d like to share more about how we work and what drives our day-to-day business.
We sell different types of products and services to both investment professionals
and individual investors. These products and services are usually sold through
license agreements or subscriptions. Our investment management business generates
asset-based fees, which are calculated as a percentage of assets under management.
We also sell both admissions and sponsorship packages for our investment conferences
and advertising on our websites and newsletters.
How we use your information depends on the product and service that you use and your relationship with us. We may use it to:
To learn more about how we handle and protect your data, visit our privacy center.
Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.
To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.
Read our editorial policy to learn more about our process.