With the free DynFrame LISP utility (see www.cadstudio.cz/download) you can add a dynamic frame (will follow text changes) to any text - DText or MText.
Download DynFrame, load it with APPLOAD, start the DYNFRAME command and pick any text in your AutoCAD drawing.
DynFrame replaces your text with an framed MLeader of the same size, color, rotation, layer, etc. It does not reflect any special alignments or other special object properties. You can undo its effect if neccessary.
Please note that unlike other "framing" methods (frames added as lines, TCircle, reactors, ordinate dimensions, etc.) this framed text will stay dynamic (frame follows text changes) in any AutoCAD (even without DynFrame loaded) and can be edited by standard double-clicks.