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I'm looking for a unique global or international equity fund...one that doesn't have the standard top 10 largest companies from each geography. Any recommendations? I'd also like to avoid funds that have hundreds of holdings (i.e. Fidelity funds). Thanks all!
I am not an index fan myself. So I'll offer two ideas ...
VMVFX ... yeah it's got 300ish holdings but it's about 50-50 US/international, skews midcap, and doesn't have the "usual suspects" in the top 10 places. And cheap at IIRC .30 ER or less. It's become my preferred place to park money in the equity markets that's not otherwise assigned.
BRLIX ... a .15 ER with 35 quantitatively-selected holdings that offers an equal-weighted collection of MEGA CAP companies. Even if they're mostly US based they do business all over the world. If I wanted basic market exposure that in some way 'touches' the world with its products I'd use that versus something that tracks an index or (gasp!) a market-weighted index.
THOAX ... Thornburg Global Opportunities Fund is a focus fund that I have owned for better than five years and seeks investment opportunity worldwide holding somewhere between 30 to 40 stocks. It is split about evenly between domestic and foreign and although it has owned small caps form time-to-time it is now more of a large/mid cap fund when it comes to style orientation. It is currently a five star bronze rate fund by Morningstar and has a top of class performance for 1, 3, 5 & 10 year periods (top 20% and better).
I have provided a link to both its fact sheet and Morningstar report below.
Geographical breakdown: Japan 21.8% United Kingdom 12.8% China 8.4% Germany 4.4% India 4.2% South Korea 3.9% Spain 3.7% Italy 3.5% France 3.5% Sweden 3.4%
GGSYX is one of the only two Grandeur Peak funds still open. It's the global version and GISYX is the international only fund. You won't find any giants here and if you're willing to accept 17.6% exposure to emerging markets then it might be interesting.
For pure international, you might consider ICEIX if you can purchase it somewhere. We custody at Schwab. It is a core hold for many clients. Other non-index options include OAKIX, SGOVX, and QFVIX. For one that is more EM than Developed, SIGIX would be my choice. And I would be remiss if I did not mention MAPIX.
Unique....Sorry but for me Unique has to mean something different and not necessarily something "better", where "better" can mean risk and/or reward and/or anything else you are looking at in the manager.
POLRX (video interview of manager on their website sold me) GAVAX (sold and not bought it back yet, but that's a matter of time)
I would also agree VMVFX is different and have owned it for a while.
Here three other funds I like: ARTRX, IWIRX, and MGGPX These funds are small, ARTRX is the biggest at 2.1B, a quality that matters a lot to me. MGGPX is NTF, load-waived at Schwab and TDA. These are global, not purely international. For the latter, as stated above, FMIJX is the best bet.
I'm wondering if MSFAX is a fund that you own? Being an institutional fund the threshold to purchase is 5mil ... Do you know where it can be purchased back of the 5 mil?
Nice looking fund; but, beyond my capacity at 5mil!
Edit: After seeking out my own answer to the above question I found that IGFAX is the retail class for this fund and has no min or sales load and holds just short of 30 positions.
Trailing note: After running a performace test screen I'm sticking with THOAX although IGFAX (retail version) is far from being a shabby fund.
I'm wondering if MSFAX is a fund that you own? Being an institutional fund the threshold to purchase is 5mil ... Do you know where it can be purchased back of the 5 mil?
Nice looking fund; but, beyond my capacity at 5mil!
Edit: After seeking out my own answer to the above question I found that IGFAX is the retail class for this fund and has no min or sales load and holds just short of 30 positions.
Trailing note: After running a performace test screen I'm sticking with THOAX although IGFAX (retail version) is far from being a shabby fund.
MSFBX is available on many platforms as a no-load/NTF.
I'm wondering if MSFAX is a fund that you own? Being an institutional fund the threshold to purchase is 5mil ... Do you know where it can be purchased back of the 5 mil?
Nice looking fund; but, beyond my capacity at 5mil!
Edit: After seeking out my own answer to the above question I found that IGFAX is the retail class for this fund and has no min or sales load and holds just short of 30 positions.
Trailing note: After running a performace test screen I'm sticking with THOAX although IGFAX (retail version) is far from being a shabby fund.
MSFBX is available on many platforms as a no-load/NTF.
And if you're one of those "do-gooders" with a tobacco-free mandate, then the fund certainly isn't for you. 3 top 10 positions are tobacco companies and this has been a historical bias because of their strong free cash flow generation.
I took a look at WGRNX and from a quick review of its M* report I went no further as it seems ...
@JoJo26 pulled the hat trick selecting MSFAX and thus far it is the top dog from what I am finding in looking through a good number of world stock funds. MSFAX has a threshold to purchase at a cool five mil; however, I have found another share class MGGPX of this fund that I can purchase with a much lower threshold but with a sales load. For now, I plan to continue with THOAX as a member of my global growth sleeve and thus far over the past five plus years I have owned it, it has served me well. Besides, I'd have a sizeable capital gains tax bill (for me) if I sold it.
Thanks again JoJo26 for the tip on MSFAX ... I'm now thinking you've selected the winning fund. It would be nice to hear form @ep1 as to what he thinks ... since, he picked our brains so-to-speak.
Retirement is going well and I have been at the coast over Easter with family and friends. Golf ... Teeing it up this afternoon with my golf league group of 25 years or so. At 69, I am still hitting from the white tees while some have moved up to the senior tees that are my junior. We shoot at points so once you have qualified from either the senior tees or white tees you've got to score plus to win, place or show. I'd rather shoot at less points and be on the white tees than more points and be on the senior tees.
Since, you named it (MSFBX) first ... you are now the big dog.
MSFAX/MSFBX is not the same fund as MGGPX. The former holds over 50% consumer defensive, is above average risk and high returns (according to the M* snapshot page). The latter is almost 40% tech and high risk (no returns rating). Both are top ten percentile over many time frames.
Not sure if they would be complimentary, or if they have some overlap. I'm looking at adding one or both. MS actually has some decent funds (that can be purchased LW at Fido)...
You might be interested in Polaris Global Value PGVFX. Under 100 holdings, mix of mid, small and large caps, around 60% international. Same team also runs the successful Pear Tree Polaris Foreign Value Small Cap fund QUSOX.
Comments
VMVFX ... yeah it's got 300ish holdings but it's about 50-50 US/international, skews midcap, and doesn't have the "usual suspects" in the top 10 places. And cheap at IIRC .30 ER or less. It's become my preferred place to park money in the equity markets that's not otherwise assigned.
BRLIX ... a .15 ER with 35 quantitatively-selected holdings that offers an equal-weighted collection of MEGA CAP companies. Even if they're mostly US based they do business all over the world. If I wanted basic market exposure that in some way 'touches' the world with its products I'd use that versus something that tracks an index or (gasp!) a market-weighted index.
THOAX ... Thornburg Global Opportunities Fund is a focus fund that I have owned for better than five years and seeks investment opportunity worldwide holding somewhere between 30 to 40 stocks. It is split about evenly between domestic and foreign and although it has owned small caps form time-to-time it is now more of a large/mid cap fund when it comes to style orientation. It is currently a five star bronze rate fund by Morningstar and has a top of class performance for 1, 3, 5 & 10 year periods (top 20% and better).
I have provided a link to both its fact sheet and Morningstar report below.
https://www.thornburg.com/products-performance/mutual-funds/overview.aspx?id=FGO
http://www.morningstar.com/funds/XNAS/THOAX/quote.html
The other two funds that are members of my global growth sleeve where THOAX is found are ANWPX and SMCWX.
https://individual.troweprice.com/staticFiles/gcFiles/pdf/phidfq1.pdf:
Geographical breakdown:
Japan 21.8%
United Kingdom 12.8%
China 8.4%
Germany 4.4%
India 4.2%
South Korea 3.9%
Spain 3.7%
Italy 3.5%
France 3.5%
Sweden 3.4%
Performance and other stuff:
http://quotes.wsj.com/mutualfund/PRIDX?mod=DNH_S_cq
$59.12 share price on 18th April, 2017 is a 52-week high.
PRCNX: some household names, but 60 holdings and small.
POLRX (video interview of manager on their website sold me)
GAVAX (sold and not bought it back yet, but that's a matter of time)
I would also agree VMVFX is different and have owned it for a while.
ARTRX, IWIRX, and MGGPX
These funds are small, ARTRX is the biggest at 2.1B, a quality that matters a lot to me. MGGPX is NTF, load-waived at Schwab and TDA. These are global, not purely international. For the latter, as stated above, FMIJX is the best bet.
I'm wondering if MSFAX is a fund that you own? Being an institutional fund the threshold to purchase is 5mil ... Do you know where it can be purchased back of the 5 mil?
Nice looking fund; but, beyond my capacity at 5mil!
Edit: After seeking out my own answer to the above question I found that IGFAX is the retail class for this fund and has no min or sales load and holds just short of 30 positions.
Trailing note: After running a performace test screen I'm sticking with THOAX although IGFAX (retail version) is far from being a shabby fund.
Regards,
Ted
I took a look at WGRNX and from a quick review of its M* report I went no further as it seems ...
@JoJo26 pulled the hat trick selecting MSFAX and thus far it is the top dog from what I am finding in looking through a good number of world stock funds. MSFAX has a threshold to purchase at a cool five mil; however, I have found another share class MGGPX of this fund that I can purchase with a much lower threshold but with a sales load. For now, I plan to continue with THOAX as a member of my global growth sleeve and thus far over the past five plus years I have owned it, it has served me well. Besides, I'd have a sizeable capital gains tax bill (for me) if I sold it.
Thanks again JoJo26 for the tip on MSFAX ... I'm now thinking you've selected the winning fund. It would be nice to hear form @ep1 as to what he thinks ... since, he picked our brains so-to-speak.
Have a good day!
My bad.
Retirement is going well and I have been at the coast over Easter with family and friends. Golf ... Teeing it up this afternoon with my golf league group of 25 years or so. At 69, I am still hitting from the white tees while some have moved up to the senior tees that are my junior. We shoot at points so once you have qualified from either the senior tees or white tees you've got to score plus to win, place or show. I'd rather shoot at less points and be on the white tees than more points and be on the senior tees.
Since, you named it (MSFBX) first ... you are now the big dog.
Skeet
MSFAX/MSFBX is not the same fund as MGGPX. The former holds over 50% consumer defensive, is above average risk and high returns (according to the M* snapshot page). The latter is almost 40% tech and high risk (no returns rating). Both are top ten percentile over many time frames.
Not sure if they would be complimentary, or if they have some overlap. I'm looking at adding one or both. MS actually has some decent funds (that can be purchased LW at Fido)...
MFO previously profiled PGVFX here: http://www.mutualfundobserver.com/2014/12/polaris-global-value-pgvfx-december-2014/