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Fact File: The MFS Massachusetts Investors Growth Stock Fund

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MFS Massachusetts Investors Growth Stock Fund overview

The MFS Massachusetts Investors Growth Stock Fund invests at least 80% of its assets in common and preferred stocks, convertible securities and depositary receipts. Although the fund can invest in companies across market caps, it focuses on large-cap companies. The fund is managed by Jeffrey C. Constantino, who has been managing the fund since 2006.

The fund manager adopts the bottom-up investment approach while selecting stocks for the portfolio. Constantino noted that he looks for “high-quality companies that have durable franchises with competitive advantages and that produce above-average sustainable growth.”

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Portfolio composition

According to information provided by the fund house, information technology was the largest sectoral holding of the fund and formed 31.9% of the portfolio as of February 2016. The healthcare and consumer discretionary sectors, in that order, were second and third and formed a combined 30% of the portfolio. Consumer staples and industrials rounded off the top five invested sectors.

Texas Instruments (TXN), Monsanto (MON), Mead Johnson Nutrition (MJN), Ecolab (ECL), and W.W. Grainger (GWW) were among the fund’s 65 holdings as of the end of February 2016. As of February 2016, the fund was managing assets worth $6.3 billion.

Fee and minimums

The MFS Massachusetts Investors Growth Stock Fund – Class A (MIGFX) was founded in January 1935 and has an expense ratio of 0.74%. You need a minimum of $1,000 to invest in this fund via Class A shares, and the minimum subsequent investment is $50. The fund can charge a maximum sales charge of 5.75% of the offering price on the purchase of Class A shares.

In the next article, we’ll look at some of the key metrics of the fund’s performance in the one-year period ended March 18, 2016.

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