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Time for broader international exposure?

slick
edited August 2013 in Fund Discussions
I currently have 10% of my portfolio in emerging markets with EEM, ABEMX and ODVYX. I am wondering whether its time to broaden back into other areas of international exposure, which seem to be exhibiting some signs of life. There are two funds that I find worth considering: LISIX and OAKIX. I do have Artesan Global Value (ARTGX) and Wasatch World Innovators (WAGTX) both of which do have some international, but only about 1/3 outside US.
Open to ideas on others and opinions on whether its s till too early. Comments very much appreciated.

This is such a wonderful forum for exchange of ideas and information, thanks David for continuing to have the best mutual fund forum on the web!

Comments

  • MaxBialystockMaxBialystock
    I've never been able to follow my own advice, but: "Buy low, sell high." The US Market is at an historic high, and US small-caps are on fire--- like the Boston Red Sox in the 9th inning last night, beating Seattle with a 6-run rally.;)

    I always come here to see what's happening, too. Lately someone (Skeeter?) mentioned that Europe appears poised to lift itself, ever so slowly, from out of the ashes. THERE is a "buy low, sell high" prospect. But hold onto your hat.

    I have a ton of my stuff with Matthews in Asia. For truly global exposure, I am using a fund from a Matthews alumnus: Andrew Foster. He started his own shop with SFGIX. So far, it is underwhelming me. Little by little, he has stated, he plans to move out of a mostly Asia position and spread things out more evenly. It has gained over the course of the past year, but Y-T-D, it is a bit under the break-even mark. The fund is down by -1.18% for 2013.

    "Break a leg!"
  • AndyJ
    Reply to @MaxBialystock: Max, Andrew F. has already done the spreading; the fund is weighted in Asia almost exactly the same as the EM index. (But a chunk of that exposure is developed Asia, so you could say he's underweight EM Asia.) Most of the recent portfolio trouble comes from his Latin America picks.
  • AndyJ
    edited August 2013
    Slick, if you want to go conservative in developed ex-U.S., the FMI fund FMIJX is in that ballpark ... curmudgeonly skeptical of the big rally in the face of slowing global growth, selling stocks that've done big runups, holding some cash, staying well below the EAFE index in valuation, hedging foreign currency ... and scoring very well in the category.

    Those guys participate, but stay conservative and skeptical all the while. (And I get a kick out of their usually grumpy commentary, while feeling the $ I have there is about as safe as any stock investment I've got.)

    I'd think it's an okay time to ease into more conservative positions in developed ex-U.S., although the markets may have wrung out most of the upside in Japan already ... the Rising Sun seems to be trading in a range now.
  • VintageFreakVintageFreak
    edited August 2013
    Even if I don't sell Grandeur Peak Global outright at a minimum I will move into Global Reach. "Broad" is right
  • VintageFreakVintageFreak
    Reply to @MaxBialystock: Think about it this way. IT has performed better than the closed WAEMX YTD and no one wants to sell that one. Yet one more reason I don't think I need WAEMX since I also have SFGIX I bought recently at beginning of the year looking to sell WAEMX anyways. In retrospect should have done that.

    This weekend I going to decide on some serious selling/buying/reducing number of funds
  • Old_JoeOld_Joe
    Reply to @AndyJ: I compared FMIJX to our stake in American Funds ANEFX, which has also done very well, and find that the two funds are very similar in geographical exposure.
  • MaxBialystockMaxBialystock
    Slick: An additional thought about spreading-out, worldwide: TBGVX. An excellent pick. But it has quite a bit in Europe's developed economies. The companies are blue-chip with dividends that are safe. ... I'm glad to hear that the move to spread-out the holdings in SFGIX has already occurred. And I do recall reading in a recent report that Latin American picks are largely the reason for results that are less than hoped for.:)
  • slick
    Reply to @MaxBialystock:
    Thanks Max, I had forgotten about Tweedy Browne, an old name I had not heard in a while.
    In the 90s had some international funds that were not emerging countries, if I remember correctly, had T Rowe Price International, Janus Overseas and a small cap I cannot recall the name of. World has changed a bit since then lol.
  • slick
    Reply to @AndyJ:

    Thanks Andy, will check it out.
  • wsanderswsanders
    edited August 2013
    One of the things I've picked up on about Europe, as least as far as Vanguard's European fund (VEURX), is they pay a decent dividend - over 6% in the last 12 mo, and more than 4% in the 2011-12 TTM . So in spite of the performance of that fund being highly variable I'm starting to think of it as a dividend fund, especially since I don't see there being much growth in Europe anytime soon.

    I admit I have not done my homework to find out whether this is a special case, but it ought not to be since VEURX follows one of those MSCI-mumble-something indexes.
  • InvestorInvestor
    edited August 2013
    Reply to @VintageFreak: I think you should stick with GPGOX. GPGOX is the concentrated/focused version of GPROX. In terms of broad coverage GPGOX does provide pretty much the same scope.
  • STB65
    H
  • STB65
    Having holdings in TBGVX a couple of decades, I split half into TBCUX, the unhedged offering, and have been a few percentage points better, FWIW. Never saw a reason to sell, since the managers and staff purportedly have much of their net worth in the fund. Besides, "Tweedy, Browne", how can you not trust them?

    Sticking with SFGIX (which was positive Friday) partially on faith and partially because my account number is 17, but SQM (speaking of Latin American holdings) is approaching deep value territory (unless the Russian sources depress the fertilizer market for several years). Was planning to double down in SQM, but POT costs and yields about the same and is closer to American and Canadian farmers. Can't decide how much of SQM is fertilizer and how much is specialty minerals,which might be more appealing since they're closer and not Russian (currently would not buy from a Russian source if another one was available in this hemisphere.) Both down Friday in a slightly rising market.
  • scott
    edited August 2013
    Reply to @STB65: I think SQM is interesting from the fact that they are a huge lithium producer and the stock has already been obliterated (it has a relative strength index on the weekly chart of just under 8.) That said, POT does have a stake in SQM (32%, including board seats)

    http://www.potashcorp.com/about/facilities/investments/sqm/
  • Hrux
    Reply to @AndyJ:

    I agree with Andy the FMI fund is sound
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