Net inflows recovered and reached $20 billion in March, according to SI, an Asset International company. The biggest draws of inflows in Q1 2010 were taxable bond ETFs, mirroring trends seen in the larger mutual fund universe.
At the end of March, U.S. ETF assets stood at a record $815 billion, topping the previous record of $786 billion at the end of 2009.
Manning will succeed Robert C. Pozen, who will become chairman emeritus and who has announced his plans to retire from MFS on December 31, 2011. Manning will continue in his role as chief executive officer, which he assumed in February 2004.
David A. Antonelli and Martin E. Beaulieu will be named vice chairmen of the company. Michael W. Roberge, who was named president of MFS in January, will assume the roles of chief investment officer and global director of research. All appointments are effective July 1.
As chairman, Manning will continue to serve on the MFS funds boards while working more closely with the funds’ independent trustees, according to an announcement. His CEO duties of setting strategy and vision for the company and building and maintaining its corporate culture remain unchanged.
Antonelli, in his role as vice chairman, will increase his focus on portfolio management, coach and mentor the firm’s global analysts, and advise on the strategic development of the firm’s global research platform.
In his role as vice chairman, Beaulieu will assume a greater role in representing MFS on industry-related issues and will serve as a key liaison with global industry associations. He will remain head of global distribution and will continue to work closely with the firm’s largest global clients.
As president, chief investment officer, and global director of research, Roberge will have worldwide oversight of MFS’ investment management and research division.
Manning joined MFS in 1984 as an analyst in the Fixed Income department and has served as a portfolio manager, director of fixed income research, and chief fixed income officer before being named CEO and chief investment officer in 2004.
Antonelli joined MFS in 1991 as an international stock analyst and served as director of international equity research before being named chief investment officer—global and non-U.S. investments in 2006. He remains a portfolio manager of MFS’ global growth, international growth and small/mid-cap strategies.
Beaulieu joined MFS in 1990 and led the firm’s defined contribution and retail distribution subsidiaries before being named head of global distribution, encompassing the firm’s retail and institutional businesses, in 2002. He was named chairman of MFS International Ltd. in 2008.
Roberge joined MFS in 1996 in the Fixed Income department and served as an analyst, portfolio manager, director of fixed income research and chief fixed income officer before being named chief investment officer—U.S. investments. He was named president in January.