It looks like the international growth fund that
has been quietly developing over the past three years will finally see the light of day.
The Boston fund shop plans to give the
MFS International New Discovery
fund, formerly known as the
MFS International Opportunities
fund, its own prospectus and start offering Class A, B and C shares on Oct. 1, according to a regulatory filing. The move typically precedes the public launch of an incubated fund.
The broker-sold fund has been quietly incubated -- only sold to company employees -- since its inception in October 1997, according to its paperwork. David Antonelli has run the fund since its inception. Over that time the fund has outpaced its average peer, according to the filing.
Antonelli has run the
MFS Emerging Markets Equity fund since the end of last year. So far this year, that fund is down 16.7%. That might not sound good, but it beats more than 80% of the fund's peers, according to
The fund has the leeway to invest in companies of any size, but its name change might hint at a leaning toward small-cap fare. The "New Discovery" tag echoes
MFS New Discovery, a small-cap growth fund with a solid track record that's run by Brian Stack, and is currently closed to new investors.