MFS Investment Management (MFS) is an American-based global asset manager, formerly known as Massachusetts Financial Services. It is owned by Sun Life Financial of Canada, with subsidiary headquarters in Boston, Massachusetts and offices worldwide. MFS was founded in 1924 and is one of the oldest asset management companies in the world. It is credited with pioneering the mutual fund. Massachusetts Financial Services Company is a privately owned investment manager. The firm also provides retirement planning, college planning, and education and planning services. It provides its services to investment companies, pension and profit sharing plans, corporations, pooled investment vehicles, state and municipal government entities, high net worth individuals, trusts, Taft-Hartley plans, institutions, public pension plans, corporate pension plans, bank trust clients, insurance companies, endowments, foundations, multi-employer plans, and investment advisory firms. The firm manages separate client-focused equity, fixed income, and balanced portfolios. It also manages equity, fixed income, and balanced mutual funds for its clients.