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Any opinions on these funds? MGGPX Morgan Stanley Global Opportunities BGAFX Baron Global Advantage Fund ARTYX Artisan Developing World Fund MIOPX Morgan Stanley Institutional Fund, Inc. International Opportunity MSSMX Morgan Stanley Institutional Fund, Inc. Inception Portfolio
Best of luck,
More important questions should be why would foreign market excels in rising rate environment, and which specific market and market cap that would be? Last year was challenging to the developed and developing markets. Even with the argument of lower valuation, 2022 will likely even more challenging.
I invested in it a month from inception and continued until 2018. After selling the amount I invested in mid 2021, I am still left with 174% of what I initially invested.
Very high beta fund, but I have immense patience, and will use volatility to my advantage whenever it severely corrects. It also covers the LG portion Developed countries, something on the lines of VWIGX.
The first two funds had massive inflows in 2020 during run-ups; the opposite is true for 2021 when outflows are seen. The charts are ugly. ISTM that the managers will have a hard time reversing recent misfortunes because outflows are likely to continue.
Voting for a good week, Derf
MGGPX - I reduced LY and added to PRGSX. Will hold remaining. Believe in it LT
MSSMX - 1/2 here and 1/2 with WAMCX - evaluating whether to continue to hold or not
ARTYX - very small position here, holding for 2022 but am in red quite a bit.
MS funds have not been performing well. MACGX (Mid Cap) has been terrible for me as well. @yogibearbull is right, it is ironic - their analysts negative outlook vs fund managers. Will see if they can adjust.
Edit/Add: 1/10/22 1PM: Paraphrase: Marko Kolanovic, JPM - Higher Bond Yields should not be disruptive to S&P Index, Near Term: We recommend Buy the Dip as the market is oversold and can handle higher yields. The reaction to the Fed is overdone. SMH
MGGPX/MGGIX will likely show a massive bloodbath today, based on the M* reporting of its holdings' prices as of 1045ET. Many large-percentage drops at the moment.
I wonder if it's too early to pre-emptively harvest some losses for my 2022 taxes.
Winners, losers, or a little of both ?
Thanks for your time, Derf
No hijacking intended.
Morgan Stanley MIOPX page
Morgan Stanley MFAPX page
Obviously they have a lot of overlap, but their figures are significantly different.
Portfolio Visualizer comparison
Close performance over 3, 5, 10 years (through year end 2021). A notable distinction is that from 2Q2020 on, MIOPX rose and fell faster. For example, YTD (2022), MIOPX dropped 9.23% and MFAPX dropped 2.83%. PV shows other significant differences (better figures are MAFPX):
std dev: 16.58% vs. 12.99%
max drawdown: 26.18% vs. 17.26%
Sharpe ratio: 0.77 vs. 1.00
Sortino ratio: 1.27 vs 1.71
As one might expect with its higher volatility MIOPX had a much better best year (55.06% vs. 44.18%) and a much worse worst year (down 12.36% vs down 5.48%).
According to M*, the best fit index for MIOPX is US Convertible Bonds!
From inception through 2016 MIOPX tracked FISCX pretty closely. (MIOPX even returned less over this period). Then it became more volatile and returned more. But it wasn't until 2020 that it took off like a rocket. And then fell like a stone. In that same period, MFAPX also rose with MIOPX, but not as quickly and with much gentler spikes.
@carew388 It's funny you mention MSFBX because that one has come up on my screens too. I really like that funds defensive posture with about 30% in consumer staples. Unfortunately it also has a 20% allocation to tech so if tech continues to get hit as I believe will happen -- you won't be safe in the fund. YAFFX is intriguing with a great long term track record -- also more of a global fund. It is one fund I'm looking at also. I think this is going to be a difficult year to make money though.
I exited MSEGX. I own 4 others. MACGX has been an absolute disaster the last 12 months. MSSMX has been close to the same. MFAIX … I’m keeping as it’s better than an index I have in a deferred account. But I’m ready to move on from MGGPX as well. I may sell on TUE and put some more in PRGSX.
This thread is offering good advice.
In hindsight, not sure if owning both is necessary ...other Int'l holdings are WAGTX, MSMLX
MGGPX Morgan Stanley Global Opportunities Negative return
BGAFX Baron Global Advantage Fund Positive return
ARTYX Artisan Developing World Fund Negative return
MIOPX Morgan Stanley Institutional Fund, Inc. International Opportunity Positive return
BCSVX Brown Capital Management International Small Company Fund Positive return
Regarding your question whether to "hold on or move on":
Why did you purchase these funds in the first place?
Have there been any material changes (management, strategy, etc.) since the initial purchase date?
When there have been no material changes to a fund, I usually opt to "hold on".
However, if funds' volatility/drawdowns create excessive anxiety it may be best to "move on".
Best of luck,
Just an FYI - https://investor.vcm.com/products/victoryshares-etfs/victoryshares-etfs-list