These Topnotch Offerings Are Betting on Europe
These funds have proved their contrarian stripes.
The global financial markets are fixated on the sovereign debt crisis in Europe. And though it's unclear as to how the crisis will play out, there doesn't seem to be an end in sight given massive deficits, unemployment, the threat of credit downgrades, and political turmoil. Thus, investing in Europe has become a decidedly contrarian move.
But is it a complete doom-and-gloom scenario for the eurozone, or are some fund managers finding fertile ground to unearth buying opportunities amid the growing pessimism?
To seek out funds that were boldly treading into the beleaguered European market, we used the Premium Fund Screener to search for noninstitutional funds within the world-stock category and foreign small-, mid-, and large-cap universes with more than 70% of their assets in Europe. (We set that baseline by looking to the MSCI EAFE Index, which has a 66.08% stake in Europe).
Esther Pak does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.