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Saturday, August 20, 2011

MFS International New Discovery A (MIDAX) mutual fund Review

MFS International New Discovery A (MIDAX) mutual funds Review ; The MFS International New Discovery fund objective is to provide capital appreciation. The fund generally invests in foreign equity securities, including emerging-market equity securities. It generally focuses on companies with small- to medium-capitalizations although it may invest in companies of any size. The fund also invests in derivatives. It may also enter into short sales for the fund.

The lead manager of this MFS fund is David Antonelli. He has managed this fund since its inception in October 1997. Investor can invest in this fund by opening a brokerage account with $1,000 minimum initial investment and $250 for IRA account. The 12b1 of this fund is 0.25% and the front-end sales load fee is 5.75%. The expense ratio of this CCAFX fund is 1.44% per year. This fund is in the Foreign Small/ Mid Growth category.
Morningstar has rated this fund with 4 stars rating. This MFS mutual fund has performed in 10 years with positive return and 3 years with negative return. It has Year-to-Date return of 4.25%. This 4 stars rated fund has returned 11.32% over the past decade.

There are 98 brokerages that provide this fund, such as Merrill Lynch, JP Morgan, E Trade Financial, etc. This fund is available in many other classes like Class B (MIDBX), Class C (MIDCX), R1 Class (MIDGX), R2 Class (MIDRX), R3 Class (MIDHX), R4 Class (MIDJX), 529A Class (EAIDX), 529B (EBIDX) and 529C (ECIDX).

The top ten holdings of MFS fund as of June 2011 represent 10.9% of total net assets. They are Croda International PLC, Bunzl PLC, Swedish Match AB, Amadeus IT Holding SA, Christian Dior SA, JGC Corp, GEA Group AG, Hiscox Ltd, Iluka Resources Ltd and Miraca Holdings Inc.

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