MFS Series Trust I - MFS New Discovery Fund Class A
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- MFS Series Trust I - MFS New Discovery Fund Class A (MNDAX) is an open-end mutual fund that seeks capital appreciation by investing primarily in equity securities of small-cap growth companies with above-average earnings growth potential; these include common stocks and other securities representing ownership interests in issuers believed to possess significant growth prospects that may develop into major enterprises, particularly when valuations appear misaligned with fundamentals. The fund employs a differentiated portfolio construction process diversifying across three types of growth stocks—emerging growth companies, high-quality durable growth companies, and those in out-of-favor industries—with a benchmark of the Russell 2000 Growth Index; as of November 30, 2025, it holds 115 issues primarily in health care (28.44%), information technology (21.83%), and industrials (18.29%), with top holdings including Advanced Energy Industries Inc., Ligand Pharmaceuticals Inc., and nVent Electric PLC, and approximately 88% allocated to U.S. equities alongside limited international exposure in countries such as the United Kingdom, Canada, and Australia. MFS Series Trust I, of which this fund is a series, is managed by MFS Investment Management, founded in 1924 and headquartered at 111 Huntington Avenue, Boston, Massachusetts, with global operations supporting individual investors, financial advisors, intermediaries, and institutions. The Class A shares, with a maximum front-end sales charge of 5.75%, a net expense ratio of 1.21%, and net assets of $2.11 billion as of November 30, 2025, commenced operations on January 2, 1997. Recent developments include the implementation or modification of expense limitation agreements and changes to management fees effective July 28, 2025, alongside updated capital gain estimates as of November 7, 2025, reflecting ongoing portfolio management and cost adjustments.