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  • Now they are simply messing with us. Why?!?!?!?!

    You think they have clients (sic) who asked them to do this? Doesn't it affect the capacity of FMIJX since it should invest in the same stocks without hedging dollar?
  • Yeah, for a firm that has always said "we want the returns of our foreign investments to reflect our stock-picking ability rather than currency fluctuations" this makes little sense. They've essentially decided to come out with a fund that's subject to increased volatility. In view of the fact that asset flows in the original fund have been pretty flat for a couple of years, I'm not sure I foresee a lot of demand for the new one. OTOH, maybe the folks at FMI are expecting a big drop in the value of the dollar, in which case this new fund might perform better than the existing one.
  • Much of the reason why I own FMIJX is because it DOES hedge currencies.
  • This is similar to Tweedy Browne when a second unhedged global fund was launched at a later date. In the long term, currency hedging is a wash but it does incurred additional cost.
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