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Fund Spy

Adding Foreign Funds to a U.S. Lineup Is No Easy Task

Three funds that have just passed their five-year mark show the challenges involved.

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A little over five years ago, several successful fund shops that in previous years had limited their lineups to domestic-stock funds (albeit with significant amounts of foreign holdings in some cases) came out with their first publicly available international-equity funds. In theory, they should have been able to apply their proven methods abroad and deliver good results at these funds. Then, on the strength of that record and the firm's fine reputation, the assets would follow.

It doesn't necessarily work out so smoothly in practice, though. The stories of three international-stock funds that recently marked their fifth anniversary reveal the difficulties that can arise. 

Gregg Wolper does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.