FYI: Mark Baribeau spent a good share of the holiday season with his family, gathered around the television and binge-watching shows on Netflix , like many people in America and around the globe. Their recent lineup included stories inspired by Colombian drug cartels in Narcos and British royalty in The Crown.
For Baribeau, co-manager of the $723 million Prudential Jennison Global Opportunities fund (ticker: PRJAX), the business model of Netflix (NFLX) is equally captivating. The mail-order DVD company turned media Goliath is a textbook example of the power of the network effect: Netflix uses its hefty subscriber base to produce original content, which in turn brings in more subscribers. And it’s taking that script global. “They have just over 100 million subscribers, but for the first time ever, more than half of those are outside the U.S.,” says Baribeau, whose fund has owned Netflix since May 2013. “Over the next several years, Netflix has the opportunity to become largely a non-U.S. company with an addressable market in the hundreds of millions.”
These qualities typify what Baribeau, 58, and his team look for in constructing their all-cap, all-country growth fund, or what he describes as a “unique collection of business models that have a lot of firepower.” Over the past five years, the fund has returned an average of 16.3% annually, better than 96% of all world stock funds tracked by Morningstar.
Regards,
Ted
http://www.cetusnews.com/business/A-Big-Bite-of-Tech.SkpdpIxrM.htmlM* Snapshot PRJAX:
http://www.morningstar.com/funds/xnas/prjax/quote.htmlLipper Snapshot PJRAX:
https://www.marketwatch.com/investing/fund/prjaxPRJAX Is Unranked In The (WLS) Fund Category By U.S. News & World Report:
https://money.usnews.com/funds/mutual-funds/world-large-stock/prudential-jennison-global-opps-fund/prjax
