MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, August 6, 2009 MFS Sees Inflows During Q2 Strong performance drove positive net flows at MFS Investment Management during the second quarter. SunLife, the fund manager's Canadian parent company, reported that net flows at MFS were $4.9 billion during the second quarter. That figure includes $1.2 billion of retail net inflows.
Top executives at the insurer pointed to strong performance as one reason for the flows. Some 92 percent of retail MFS fund assets ranked in the top half of their respective Lipper categories based on three-year performance, according to the executives. The flows helped MFS earn net income of $27 million in the second quarter of 2009 compared to earnings of C$28 million in the first quarter of 2009. That figure remains below the pre-market correction earnings of $56 million MFS earned in the second quarter of 2008. MFS' earnings were also helped by the appreciation of the Canadian dollar against the U.S. dollar. That shift provided C$4 million in earnings the second quarter of 2009 compared to the second quarter of 2008. In U.S. dollars, second quarter earnings were 27 million compared to $55 million in the second quarter of 2008. Six-month earnings were $50 million compared to $114 million in the same period last year. Printed from: MFWire.com/story.asp?s=22264 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |
