MFS E-mails Show Fund Execs Knew About Timing

MFS Investment Management knew about market timing in its funds but was slow in curtailing it, according to e-mail messages obtained by The Boston Globe.

James V. FitzGerald, who heads up the sales team at MFS, wrote in a May 14 e-mail, "Hi everyone…Effective immediately, MFS will not be taking any new money from market timers. We currently have approximately $1.3 billion in known timer money at MFS."