MFS Growth

Objective And Strategy

Objective
Seeks capital appreciation.

Strategy
MFS normally invests the fund?s assets primarily in equity securities. MFS focuses on investing the fund?s assets in the stocks of companies it believes to have above average earnings growth potential compared to other companies (growth companies). Growth companies tend to have stock prices that are high relative to their earnings, dividends, book value, or other financial measures. While MFS may invest the fund?s assets in companies of any size, MFS primarily invests in companies with large capitalizations. MFS may invest the fund?s assets in foreign securities. MFS uses a bottom-up investment approach to buying and selling investments for the fund. Investments are selected primarily based on fundamental analysis of individual issuers and their potential in light of their financial condition, and market, economic, political, and regulatory conditions. Factors considered may include analysis of an issuer?s earnings, cash flows, competitive position, and management ability. Quantitative models that systematically evaluate an issuer?s valuation, price and earnings momentum, earnings quality, and other factors may also be considered.

Principal Risks

* This portfolio invests in securities of foreign issuers which involves risks not typically associated with domestic issuers, including currency fluctuations and the possibility of political and economic instability. Emerging markets involve risks in addition to those generally associated with foreign securities, because political and economic structures in many emerging markets may be undergoing significant evolution and rapid development.

* Generally, a security is liquid if the Portfolio is able to sell the security at a fair price within a reasonable time. Liquidity is generally related to the market trading volume for a particular security.