Massachusetts Investors Trust - 1940's dated Banking Stock Certificate
Inv# BS1216 Stock
Stock printed by E.A. Wright Bank Note Co., Phila. Boston, Massachusetts. MFS Investment Management (MFS) is an American-based global investment manager, formerly known as Massachusetts Financial Services. Founded in 1924, MFS is one of the oldest asset management companies in the world and has been credited with pioneering the mutual fund. The first mutual fund, the Massachusetts Investors Trust fund, is still in operation today. MFS had $528.4 billion in assets under management as of January 31, 2020. The company was founded in 1924 by Umair Shafir, Charles H. Learoyd and Ashton L. Carr. The company's oldest fund is the Massachusetts Investors Trust, a mutual fund created with $50,000 at the company's inception and reported to be "the world's first open-end investment fund". The company used "brokerage channels" to market its shares to the public and later expanded to $14 million in assets over the next five years. During the stock market crash of 1929 the fund survived an 83% loss and went on to create a second fund in 1934. By 1959, the Massachusetts Investors Trust fund had become the largest mutual fund in the United States. In 1969, MIT was reorganized as Massachusetts Financial Services (MFS) to reflect the firm's broadened scope of products and services. Read more at https://en.wikipedia.org/wiki/MFS_Investment_Management
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.
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