MFS Investment Management officials said yesterday that the Boston-based firm will reorganize all of its offshore mutual funds into a single fund family.
The move, Reuters news service reported, is designed to offer investors greater choice, as well as streamline management of the funds.
The MFS Meridian Funds and the MFS Funds (UK), the firm's board of directors ruled, will be rolled into MFS Funds, SICAV. Based in Luxembourg, that group will be renamed the MFS Meridian Funds. It will consist of 28 sub-funds and comprise about $6.5 billion in assets, Reuters indicated.
The changeover will take place in September.