Ratings unchanged as MFS ends distribution arrangement with BNP Paribas
Standard & Poor’s Fund Services announced today that MFS and BNP Paribas Investment Partners (BNPP IP) plan an amicable separation of their distribution agreement of MFS investment products in Australia and New Zealand.
This does not affect the S&P ratings on MFS products offered domestically. From July 1, 2012, MFS will shift from distribution through BNPP IP to direct distribution of its investment products and services, establishing its own sales and service staff alongside its existing local investment group, which was established in Sydney in June 2008.
MFS has achieved sufficient size, presence, and recognition to enable it to assume distribution responsibility and direct management of the trusts it oversees.