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FMI International FMIJX

Heathbob
edited April 2012 in Fund Discussions
Thoughts on making this a core foreign holding. Performance looks pretty steady out of the gate and its concentration gives it the ability to gradually distance itself from the crowd. I have alot of exposure to emerging markets exposure and am looking to increase my exposure to the rest of the developed world. I don't own FMI Large Cap, but have followed it for a long time, and understand the shop's investment process. Thanks.

Comments

  • InvestorInvestor
    I think it is a conservative International Fund. I own FMIMX and satisfied with it and am considering adding this fund to my portfolio as an additional managed fund beyond ARTKX I have.

    I've asked David to have a look a while back. I'm hoping that he would have a write-up sometime.
  • AndyJ
    edited April 2012
    Reply to @Investor: I took a look at FMIJX a while back and decided it looks great, but not different enough from ARTKX to be very attractive for this house's portfolio. It has roughly the same mix of geography (significant U.S., loads of UK/W. Europe, Japan's being about it outside North America and Europe), and also has at least a few top holdings that are now or used to be in the Artkx portfolio. The one obvious difference is the way-outsized allocation to industrial stocks in Fmijx - which could be a pretty good diversifier.

    What's your take on the overlap or differences? Sounds like you may have followed Fmijx more closely than I have.

    TIA, AJ
  • InvestorInvestor
    edited April 2012
    Reply to @AndyJ: These funds are indeed similar. FMIJX is a bit more growthier as opposed to valueish ARTKX. FMIJX seems to avoid Consumer Cyclicals and Financials (Cyclical stocks), has even bigger allocation to Industrials than ARTKX. Scanning the top 25 securities held on M*, I see 4 overlapping investments.

    Since ARTKX is now closed, FMIJX could be a good alternative for people wanting to invest in ARTKX. Also, it could be an alternative fund to consider if you are uncomfortable making bigger and bigger allocation percentage wise to ARTKX in your portfolio.
  • AndyJ
    Reply to @Investor: Gotcha. Makes sense.
  • David_Snowball
    Reply to @Investor: (working on it!)
  • InvestorInvestor
    Reply to @David_Snowball: Thanks:)
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