Strategy. MFS (Massachusetts Financial Services Company, the funds investment adviser) invests the funds assets in equity securities and debt instruments. Equity securities include common stocks, depositary receipts, and other securities that represent an ownership interest (or right to acquire an ownership interest) in a company or other issuer. Debt instruments include corporate debt instruments, foreign government securities, U.S. Government securities, securitized instruments (including mortgage-backed securities and other asset-backed securities) and other obligations to repay money borrowed. MFS generally invests approximately 60% of the funds assets in equity securities and approximately 40% of the fund's assets in debt instruments. These weightings do not reflect the fund's cash balance and can vary over time due to market movements and cash flows. Of the … Show more… MFS (Massachusetts Financial Services Company, the funds investment adviser) invests the funds assets in equity securities and debt instruments. Equity securities include common stocks, depositary receipts, and other securities that represent an ownership interest (or right to acquire an ownership interest) in a company or other issuer. Debt instruments include corporate debt instruments, foreign government securities, U.S. Government securities, securitized instruments (including mortgage-backed securities and other asset-backed securities) and other obligations to repay money borrowed. MFS generally invests approximately 60% of the funds assets in equity securities and approximately 40% of the fund's assets in debt instruments. These weightings do not reflect the fund's cash balance and can vary over time due to market movements and cash flows. Of the fund's investments in equity securities, MFS focuses on investing the fund's assets in the stocks of companies it believes are undervalued compared to their perceived worth (value companies). MFS normally invests a portion of the funds assets in income-producing equity securities. While MFS may invest the equity portion of the funds assets in securities of companies of any size, MFS primarily invests in securities of companies with large capitalizations. MFS invests the funds assets in U.S. and foreign securities, including emerging market securities. MFS normally invests the fund's assets across different industries, sectors, countries, and regions, but MFS may invest a significant percentage of the funds assets in issuers in a single industry, sector, country, or region. MFS generally invests the fund's assets in at least three different countries and invests a percentage of the fund's net assets in securities of foreign issuers equal to at least the lesser of 40% or the percentage of foreign issuers in the MSCI World Index less 15%. Of the funds investments in debt instruments, MFS generally invests substantially all of these investments in investment grade quality debt instruments. While MFS may use derivatives for any investment purpose, to the extent MFS uses derivatives, MFS expects to use derivatives primarily to increase or decrease exposure to a particular market, segment of the market, or security, to increase or decrease interest rate or currency exposure, or as alternatives to direct investments. Derivatives include futures, forward contracts, options, and swaps. MFS uses an active bottom-up investment approach to buying and selling investments for the fund. Investments are selected primarily based on fundamental analysis of individual issuers and instruments. For a segment of the equity portion of the fund, investments are selected primarily based on blending fundamental and quantitative research. Quantitative models that systematically evaluate issuers and instruments are used by certain of the fund's equity securities portfolio managers and may also be considered by the fund's other portfolio managers. Show less