BOSTON - Massachusetts Financial Services has unveiled an emerging growth series of investment options for its Regatta Gold annuity product.

The mutual fund company will give buyers of the product the choice of investing in small and medium-size companies that have potential to become major enterprises. The options are designed for long-term growth of capital.

MFS, which manages $38 billion of assets, is a leading seller of mutual funds and investment products through bank-affiliated brokerages, securities firms, and independent investment advisers.

The Regatta Gold annuity, which sold $350 million last year, combines the guaranteed return of a fixed annuity and the investment alternatives of a variable annuity. The fixed portfolios are managed and underwritten by Sun Life of Canada, Wellesley, Mass., the variable portfolios are managed by MFS.

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