BOSTON--(BUSINESS WIRE)--MFS Investment Management® (MFS®) plans to add Class R6 shares to 20 additional mutual funds. The share classes are expected to launch over the next nine months, beginning June 2, 2017, and ending March 2, 2018. Class R6 shares are not subject to sales charges, Rule 12b-1 fees or sub-accounting fees and would qualify as "clean shares" under current regulatory guidance. Once completed in March 2018, 79 MFS US-domiciled mutual funds will be available in Class R6 shares, available for inclusion in retirement plans and in certain asset-based advisory fee programs.
"Since their introduction, MFS has seen strong demand from clients for our Class R6 or 'clean shares,' initially in the retirement market and later for advisory programs," said Michael Keenan, senior managing director of National Accounts with MFS. "More recently, there has been an increasing interest for clean shares from brokerage platforms as clients formulate potential solutions regarding the Department of Labor's Fiduciary Standard rule."
MFS began adding Class R6 (then-called "Class R5") shares in 2012 and 2013 to its US open-end retail mutual fund line up. By March 2, 2018, a majority of it US fund line up will offer Class R6 shares.
"Class R6 shares offer plan advisors and plan sponsors greater flexibility when constructing defined contribution plans and investment menu options for participants," added Ryan Mullen, senior managing director for Defined Contribution and RIA sales at MFS. "In addition, as more advisors turn toward fee-based models, Class R6 shares may be an appropriate option for asset-based advisory platforms as well."
MFS began making Class R6 shares available to asset-based advisory fee platforms in December 2016.
Below is a list of MFS funds that will add Class R6 shares, including anticipated launch dates:
|MFS Municipal High Income Fund||6/2/2017||MFS North Carolina Municipal Bond Fund||8/1/2017|
|MFS Municipal Income Fund||8/1/2017||MFS Pennsylvania Municipal Bond Fund||8/1/2017|
|MFS Alabama Municipal Bond Fund||8/1/2017||MFS South Carolina Municipal Bond Fund||8/1/2017|
|MFS Arkansas Municipal Bond Fund||8/1/2017||MFS Tennessee Municipal Bond Fund||8/1/2017|
|MFS California Municipal Bond Fund||8/1/2017||MFS Virginia Municipal Bond Fund||8/1/2017|
|MFS Georgia Municipal Bond Fund||8/1/2017||MFS West Virginia Municipal Bond Fund||8/1/2017|
|MFS Maryland Municipal Bond Fund||8/1/2017||MFS Municipal Limited Maturity Fund||9/1/2017|
|MFS Massachusetts Municipal Bond Fund||8/1/2017||MFS International Diversification Fund||10/2/2017|
|MFS Mississippi Municipal Bond Fund||8/1/2017||MFS Managed Wealth Fund||10/2/2017|
|MFS New York Municipal Bond Fund||8/1/2017||MFS Strategic Income Fund||3/2/2018|
About MFS Investment Management
Established in 1924, MFS is an active, global investment manager with investment offices in Boston, Hong Kong, London, Mexico City, São Paulo, Singapore, Sydney, Tokyo and Toronto. We employ a uniquely collaborative approach to build better insights for our clients. Our investment approach has three core elements: integrated research, global collaboration and active risk management. As of April 30, 2017, MFS manages US$448.7 billion in assets on behalf of individual and institutional investors worldwide. Please visit mfs.com for more information.
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111 Huntington Ave., Boston, MA 02199
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