MFS Global Alternative Strategy Fund Class A
DVRAX
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- MFS Global Alternative Strategy Fund Class A (DVRAX) is an open-end mutual fund managed by MFS Investment Management that seeks total return on a long-term basis, targeting performance that meets or exceeds 2-4% over the ICE BofA 0-3 Month U.S. Treasury Bill Index net of fund expenses over a full market cycle, with lower correlation to traditional equity and fixed income markets. The fund employs a flexible multi-asset strategy combining active security selection with tactical allocations across global equities, fixed income securities, currencies, and derivatives including futures, options, and swaps for both long and short positions; it typically allocates approximately 20% to debt instruments and the balance to equities, cash equivalents, and overlays, with current positioning featuring significant net exposures in U.S. assets, Europe ex-U.K., and Japan alongside cash holdings exceeding 50% and derivative overlays adjusting risk. Products and services include Class A shares with a 5.75% front-end sales charge, net expense ratio of 1.34%, and minimum initial investment of $1,000, available to U.S. investors through financial intermediaries. Launched on December 20, 2007, and domiciled in the United States, the fund is part of MFS Investment Management's broader lineup of actively managed mutual funds; MFS, founded in 1924 and headquartered at 111 Huntington Avenue in Boston, Massachusetts, operates globally with offices in nine financial centers including Hong Kong, London, São Paulo, Singapore, Sydney, Tokyo, and Toronto, managing over $615 billion in assets. Recent developments include strengthened strategic collaboration with Sun Life Global Investments, which has leveraged MFS's proprietary research and expertise for sub-advisory on equity products since 2010, enhancing long-term investment strategies amid market volatility; the fund maintained net assets of $221.51 million as of November 30, 2025, with portfolio managers Natalie Shapiro (since 2007), Ben Nastou (since 2014), and Erich Shigley (since 2021) overseeing its macro trading approach in the Morningstar Macro Trading category.