MFS SERIES TRUST VIII
497, 1996-10-24
Previous: FIDELITY INSTITUTIONAL TRUST, 497, 1996-10-24
Next: ADVANTA NATIONAL BANK USA /PA/, 424B5, 1996-10-24



<PAGE>
                            MFS(R) WORLD GROWTH FUND
                        a series of MFS Series Trust VIII

                 Supplement to the March 1, 1996 Prospectus and
                       Statement of Additional Information


         As disclosed in its  Prospectus  under the caption  "Management  of the
Fund," the MFS World Growth Fund has retained  Massachusetts  Financial Services
Company ("MFS") as its investment adviser and MFS has, in turn, retained Oechsle
Investment  Advisors,  L.P.  ("Oechsle"),  Foreign & Colonial Management Limited
("FCM")  and FCM's  subsidiary,  Foreign &  Colonial  Emerging  Markets  Limited
("FCEM"),  as sub-advisers to the Fund. The Fund pays an investment advisory fee
to MFS and MFS (not the Fund) pays sub-advisory fees to Oechsle and FCM (FCEM is
compensated by FCM).

         Under this arrangement,  MFS manages the Fund's assets invested in U.S.
securities, Oechsle manages the Fund's assets invested in Western Europe, Japan,
Australia and New Zealand and FCM and FCEM manage the Fund's assets  invested in
emerging markets.  MFS has overall  portfolio  management  responsibilities  and
determines the amount of the Fund's assets allocated to these markets.

         MFS has  terminated  Oechsle  as a  sub-adviser  to the Fund  effective
October  31, 1996 and will  manage the assets of the Fund  currently  managed by
Oechsle commencing November 1, 1996. These assets will be managed by MFS using a
committee  of  investment   research  analysts.   This  committee  will  include
investment  research analysts  employed by MFS and by MFS  International  (U.K.)
Limited,  an indirect  wholly owned  subsidiary of MFS, and investment  research
analysts  employed by FCM and FCEM.  MFS has entered  into a strategic  alliance
with FCM and FCEM (see "Management of the Fund" in the  Prospectus).  The Fund's
assets managed in this style will be allocated among countries and industries by
the  analysts  acting  together  as a group.  Individual  analysts  will then be
responsible  for selecting what they view as the securities  best suited to meet
the Fund's  investment  objective within their assigned  geographic and industry
responsibilities.

         This  change will not affect the manner in which MFS manages the Fund's
assets  invested in U.S.  securities  or in which FCM and FCEM manage the Fund's
assets  invested  in  emerging  markets,  and will not  affect the amount of the
investment  management  fee the Fund pays to MFS nor the amount of  sub-advisory
fees that MFS pays FCM (or FCM pays FCEM).



                The Date of this Supplement is October 21, 1996.


© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission