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 |
|
Friday, April 20, 2001 What Is MFS Really Up To? A recent article in InvestmentNews asserts that MFS Investment Management has ordered up a Jenny Jones-style makeover in an effort to look more attractive to investors. What of rumors that MFS is considering a name change? "There is no validity to that rumor," said Jim Fitzgerald, director of the Boston firm's advisor division. "There is no name change." The murmurs, however, may have been based on fact: MFS's board felt that "MFS Investment Management" was a mouthful and considered some manner of abbreviation. "There was discussion, but in the end, folks decided, let's leave it the way it is," said David Oliveri, spokesperson for MFS. MFS has chucked its old-boy tagline, "We invented the mutual fund," but will not be adopting another all-weather slogan. "While mutual funds once represented nearly 100 percent of our market share, we have a fairly significant portion of our assets on the institutional side," said Oliveri. "For institutional players, hearing the words 'mutual fund' is like nails on a chalkboard. Where the idea came from to do the branding is to find a way to position ourselves as a global investment management firm, and one of the things that came up is that we're dropping the 'We invented the mutual fund' tag line." The firm has adopted the phrase, "Who can you turn to in times like these?" for its current advertising, but MFS will change its tag lines to suit current market conditions. "It's a tag line right now," said Oliveri. "Will it be a tag line a year from now? I don't think so." Rather than focus on a set tag line, MFS has turned its focus to the touchy-feely aspects of branding. "Basically the intent of what we're trying to say is that we should be trusted," explained Oliveri. "The tag line will change, but the philosophy is to try to capitalize on the feeling of overall trust." While MFS is sprucing up its image, the change represents more a trim and new lipstick rather than a brand-new wardrobe. "MFS's message has always been about diversification," said Fitzgerald. "Out story hasn't changed one iota." Printed from: MFWire.com/story.asp?s=26517 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |