MFS Investment Management of Boston announced today the launch of MFS Diversified Target Return Fund.
The fund's investment objective is to seek a target total return that meets or exceeds the rate of inflation over a full market cycle by five percentage points, and the fund will use an unconstrained benchmark approach, MFS said.
"The innovative approach of MFS Diversified Target Return Fund allows active management of all the major sources of risk and return in a portfolio, releasing some of the investment constraints of more traditional approaches by tactically adjusting market and currency exposures," James Jessee, president of MFS Fund Distributors Inc., the retail mutual fund sales arm of MFS, said in a statement. "The fund can complement a portfolio of traditional investments with the diversifying characteristics of a flexible, institutional-quality, alternative investment strategy for mutual fund investors."
MFS is a unit of Sun Life Financial Inc., a Toronto-based financial services company.
(By Chris Reidy, Globe staff)