The track record of International, Emerging Markets, and
International Small Cap equities may surprise you.
In 2009 he became a co-manager of
the International Small Cap Equity strategy (manifested in the U.S. as Price International Discovery PRIDX), where he was the lead guy on Asian stock selection.
Again at IndexUniverse.com, Matthew Hougan reports on the imminent launch of a series of
international small cap equity ETFs.
Not exact matches
In recent years they have added
international equities and
small -
cap stocks — asset classes that come with higher volatility than sturdier blue chips, but also offer the promise of higher returns.
Another third should be in
international stocks (mature foreign markets like Japan and Europe), with the remaining third of your
equity portion in emerging markets and what he calls global
small caps.
Core
International Fidelity ®
International Enhanced Index Fund (FIENX) Fidelity ®
International Capital Appreciation Fund (FIVFX) Fidelity ® Total
International Equity Fund (FTIEX) Fidelity ®
International Discovery Fund (FIGRX) Fidelity ® Diversified
International Fund (FDIVX) Fidelity ® Overseas Fund (FOSFX) Fidelity ®
International Growth Fund (FIGFX) Fidelity ®
International Value Fund (FIVLX) Fidelity ®
International Small Cap Fund (FISMX) Fidelity ®
International Small Cap Opportunities Fund (FSCOX)
Prior to this role Stuart was a Portfolio Manager in the Global Active Quantitative
Equity Team where his responsibilities included management of the global and
international small cap strategies, coordination with the European team across all group strategies as well as research within the team.
Restore target allocations across global
equity markets: The strong performance of the S&P 500 Index has attracted cash into large -
cap stocks in recent months, but we recommend allocating into
small - and mid-
cap U.S.
equities, and into
international markets, if current allocations are below their long - term targets.
Returns: Large
cap stocks -LRB--40.33 %),
small cap stocks -LRB--35.29 %), private
equity -LRB--25.40 %), and
international stocks -LRB--46.53 %) get hammered.
Regions / sectors are represented by the following indices: US Large
Cap (S&P 500), US Mid
Cap (Russell Mid
Cap), US
Small Cap (Russell 2000), Europe (MSCI Europe), Japan (MSCI Japan), Pacific ex Japan (MSCI Pacific ex Japan), Emerging Markets (MSCI Emerging Markets),
International Equities (MSCI ACWI ex USA), Global
Equities (MSCI World).
Our diversified funds (Oakmark, Oakmark
International, Oakmark Global, Oakmark
Equity and Income, and Oakmark
International Small Cap) generally own 40 - 60 stocks each.
While both the Oakmark
International and
International Small Cap Funds had acceptable investment performance in the fourth quarter of 2011, the full year was not good for global
equities or for our two Funds, as natural disasters (first in Japan, later in Thailand) and Europe's sovereign debt crisis took their toll.
When an individual without financial sophistication is faced with a choice between
equity and fixed - income funds,
international or domestic, large -
cap or
small -
cap, high - yield or treasury bonds, they face choice - overload and the decision can be overwhelming.
He is a member of the emerging market
equity and
international small -
cap portfolio management teams.
On the other hand, in less efficient asset classes — such as
small -
cap, mid-
cap or
international equities — active portfolio managers may have a greater opportunity to outperform.
Oakmark, Oakmark
Equity & Income, Oakmark Global, Oakmark
International Funds and Oakmark
International Small Cap: The Funds» portfolios tend to be invested in a relatively small number of st
Small Cap: The Funds» portfolios tend to be invested in a relatively
small number of st
small number of stocks.
The top 25 mutual funds according to Kiplinget.com as of September 30, 2009 are: FUND NAME SYMBOL Baron
Small Cap BSCFX CGM Focus CGMFX Dodge & Cox Stock DODGX Fairholme Fund FAIRX FBR Focus FBRVX Fidelity Contrafund FCNTX Fidelity Low - Priced Stock FLPSX FPA Crescent FPACX Longleaf Partners LLPFX Pimco CommodityRealRet Strat D PCRDX Selected American Shares S SLASX T. Rowe Price
Equity Income PRFDX T. Rowe Price Mid-
Cap Growth RPMGX T. Rowe Price
Small -
Cap Value PRSVX Vanguard Primecap Core VPCCX Vanguard Selected Value VASVX Artio
International Equity II A JETAX Dodge & Cox Intl Stock DODFX Marisco Global MGLBX T. Rowe Price Emg Mkts Stock PRMSX Dodge & Cox Income DODIX Fidelity Intermediate Municipal Income FLTMX Harbor Bond Institutional HABDX Loomis Sayles Bond LSBRX Vanguard Infl - Protected Secs VIPSX These mutual funds cover a wide variety of assets.
The fund had major equivalent positions in the Schwab
International Small -
Cap Equity ETF (SCHC), WisdomTree
International SmallCap Dividend Fund (DLS), First Trust Dow Jones Global Select Dividend Index Fund (FGD), iShares MSCI United Kingdom ETF (EWU), PowerShares DWA Industrials Momentum Portfolio (PRN), and Vanguard FTSE Europe ETF (VGK).
Balanced funds are great because they don't require investors to figure out a host of complicated considerations, such as how much of your portfolio should be weighted in
small cap versus
international equity funds.
All Freedom Funds are subject to the volatility of U.S. and
international equity and fixed income markets, and may be subject to risks associated with investing in high - yield,
small -
cap, and foreign securities.
Compare Putnam funds in FundVisualizer: Select a Putnam fund to compare Putnam Growth Opportunities Fund Putnam Pennsylvania Tax Exempt Income Fund Putnam Putnam PanAgora Risk Parity Fund Putnam Global Sector Fund Putnam Putnam PanAgora Managed Futures Strategy Putnam Multi-
Cap Core Fund Putnam Putnam PanAgora Market Neutral Fund Putnam Capital Spectrum Fund Putnam Global
Equity Fund Putnam
Equity Spectrum Fund Putnam George Putnam Balanced Fund Putnam Global Income Trust Putnam Global Health Care Fund Putnam Short Duration Income Fund Putnam Dynamic Risk Allocation Fund Putnam High Yield Fund Putnam Floating Rate Income Fund Putnam Sustainable Leaders Fund Putnam New Jersey Tax Exempt Income Fund Putnam RetirementReady 2060 Fund Putnam Multi-Asset Absolute Return Fund Putnam Government Money Market Fund (A Shares) Putnam
Equity Income Fund Putnam Europe
Equity Fund Putnam Dynamic Asset Allocation Conservative Fund Putnam RetirementReady 2055 Fund Putnam Dynamic Asset Allocation Balanced Fund Putnam New York Tax Exempt Income Fund Putnam Dynamic Asset Allocation Growth Fund Putnam Retirement Income Fund Lifestyle 1 Putnam Ohio Tax Exempt Income Fund Putnam
International Equity Fund Putnam
Small Cap Value Fund Putnam Massachusetts Tax Exempt Income Fund Putnam Diversified Income Trust Putnam Convertible Securities Fund Putnam California Tax Exempt Income Fund Putnam Global Financials Fund Putnam
Small Cap Growth Fund Putnam Global Consumer Fund Putnam
International Capital Opportunities Fund Putnam
International Value Fund Putnam Global Telecommunications Fund Putnam Global Natural Resources Fund Putnam Money Market Fund (A Shares) Putnam Global Technology Fund Putnam Global Industrials Fund Putnam Tax - Free High Yield Fund Putnam Capital Opportunities Fund Putnam Global Utilities Fund Putnam Research Fund Putnam Minnesota Tax Exempt Income Fund Putnam Mortgage Securities Fund Putnam Fixed Income Absolute Return Fund Putnam AMT - Free Municipal Fund Putnam Absolute Return 100 Fund Putnam Short - Term Municipal Income Fund Putnam RetirementReady 2030 Fund Putnam
International Growth Fund Putnam RetirementReady 2045 Fund Putnam Intermediate - Term Municipal Income Fund Putnam Tax Exempt Income Fund Putnam RetirementReady 2050 Fund Putnam Income Fund Putnam Sustainable Future Fund Putnam Emerging Markets Income Fund Putnam Emerging Markets
Equity Fund Putnam Investors Fund Putnam RetirementReady 2020 Fund Putnam RetirementReady 2025 Fund Putnam RetirementReady 2035 Fund Putnam RetirementReady 2040 Fund
Over this evaluation period, the fund had major equivalent positions in the iShares MSCI EAFE
Small -
Cap ETF (SCZ), iShares MSCI EAFE Growth ETF (EFG), iShares
International Treasury Bond ETF (IGOV), MSCI EAFE Hedged
Equity ETF (DBEF), iShares MSCI Sweden ETF (EWD), and iShares MSCI Ireland
Capped ETF (EIRL).
Two are hedge funds undergoing conversion (LDR Preferred Income and Livian
Equity Opportunity), two are edgy
internationals (Frontier Silk Invest New Horizons and Harbor
International Small Cap, managed by Barings) and one an ESG - oriented blue chip fund, TCW New America Premier
Equities.
Related investing themes:
Equity Funds, Growth
Equity Funds,
Small -
Cap Equity Funds, Health & Biotech
Equity Funds,
International Equity Funds.
Core
International Fidelity ®
International Enhanced Index Fund (FIENX) Fidelity ®
International Capital Appreciation Fund (FIVFX) Fidelity ® Total
International Equity Fund (FTIEX) Fidelity ®
International Discovery Fund (FIGRX) Fidelity ® Diversified
International Fund (FDIVX) Fidelity ® Overseas Fund (FOSFX) Fidelity ®
International Growth Fund (FIGFX) Fidelity ®
International Value Fund (FIVLX) Fidelity ®
International Small Cap Fund (FISMX) Fidelity ®
International Small Cap Opportunities Fund (FSCOX)
The indexes representing each asset class are: S&P 500 ® Index (for Large
Cap Equity); Barclays U.S. Aggregate Bond Index (for Fixed Income); MSCI EAFE Index (for
International Equity); Russell 2000 Index (for
Small Cap Equity); and Citi Treasury Bill 3 - Month Index (for Cash).
Dan is an
equity research analyst and portfolio manager on Wellington Management's
International Small Cap Portfolio Management Team and is based in Wellington Management's Tokyo office.
I only have a
small -
cap and value tilt for my
international (US, EAFE and EM)
equities.
Today, Third Avenue manages assets across four core
equity strategies — Value,
Small -
Cap, Real Estate, and
International — which are all rooted in the differentiated, high conviction investment approach established by our Founder.
As you can see, this portfolio is mostly stock focused, with a larger percentage in
small cap and
international equities than other portfolios so far.
«After applying our ActiveBeta approach to large
cap equities in the U.S. as well as in emerging markets, developed
international equities, Europe and Japan, we are thrilled to now apply it to a market as dynamic and diverse as U.S.
small cap equities.»
This is just my opinion, however it's reflected in the Australian figures above, with
small cap funds having a survivorship rate of almost 84 % over five years compared to 75.11 % survivorship rate for Australian general
International Equity Funds over the same time frame.
That might mean putting 50 % of your
equity allocation into a U.S. large
cap fund, 30 % into an
international fund, 10 % into a U.S.
small cap fund and spreading the remainder among categories such as emerging markets and natural resources.
«For the average investor, on the
equity side, 65 % should be in U.S. stocks and the rest should be in
international,» said Ed Kohlhepp, CEO of Kohlhepp Investment Advisors, a registered investment advisor (RIA), in Doylestown, Pa. «Of the U.S. stock funds, 65 % should be in large
cap and the rest split between
small - and midcap funds.
Brian: If it were me, I'd probably use all three of the
international ETFs, as the «International Equity» ETF doesn't include emerging markets or small -
international ETFs, as the «
International Equity» ETF doesn't include emerging markets or small -
International Equity» ETF doesn't include emerging markets or
small -
caps at all.
Growth assets could include real estate investment trusts (5 %), Canadian
equities (large
cap 8 %,
small cap 4 %), US
equities (10 % large, 8 % mid and
small) plus
international stocks (10 % large
cap, 8 % emerging and
small cap).
The diversified portfolio is based on a 5 % allocation to cash, 25 % allocation to investment grade bonds, 5 % allocation to municipal bonds, 20 % allocation to S&P 500 Index, 10 % allocation to
small caps, 5 % allocation to commodities, 15 % allocation to
international equities, 5 % allocation to emerging markets, 5 % allocation to REITs, and a 5 % allocation to alternatives.
The Diversified Portfolio is based on a 5 % allocation to Alternatives, 5 % allocation to High Yield Bonds, 30 % allocation to Investment Grade Bonds, 5 % allocation to Municipal Bonds, 20 % allocation to the S&P 500 Index, 10 % allocation to
Small Caps, 5 % allocation to
International Small Cap, 10 % allocation to
International Equity, 5 % allocation to Emerging Markets, and a 5 % allocation to REITs.
On the website for a certain investment firm, the main types of assets are: Large
Cap Equity Small Cap Equity International...
They've announced liquidation of their S&P 500 Index Fund,
Small Cap Index Fund,
International Equity Index Fund, Emerging Markets Fund, High Yield Bond Fund, Intermediate Bond Fund, Short - Term Bond Fund and Zebra Global
Equity Fund (AZLAX).
The foreign
equity exposure in the ETF portfolio comes from Vanguard's VXC, which tracks US and
international markets, including large, mid and
small -
cap companies.
One other point worth noting: GMO's 7 year asset class return forecasts as of 10/31/11: -2.3 % for
International Bonds, -1 % for US Bonds, -.8 % for cash, -.4 % for US
Small Cap, 1.8 % for US Large, 5.6 % for Emerging market
equities, and 5.8 % for
International Large
Caps.
Equities can vary according to: * the size of companies represented in a «basket» (e.g. large vs medium vs
small cap stocks) * the way the stocks» prices move as the stocks chart their growth (e.g. growth vs value stocks) * the geographical market in which the stock moves (e.g. domestic vs
international)
The presentation focuses on the
equity asset classes (U.S.and
international, large and
small cap, growth and value and real estate) every
equity investor should own, how to select the best performing mutual funds, the pros and cons of index funds, the best balance of
equity and fixed income funds and how to maximize distributions in retirement without taking the risk of running out of money.
Investors should reexamine their current allocation to determine how much
international small -
cap stocks exposure they have truly gained via their other
international equity holdings.
As a result, we believe investors should reassess their allocation to
international small -
cap stocks, with the goal of increasing their weighting to a target of 5 % -10 % of their total
equity allocation.2
An all
equity portfolio might be pitched as «diversified» if it holds stocks across multiple styles (value & growth), market
caps (
small, mid, & large), and potentially even geography (
international & domestic).
The IFA Indexes Times Series Construction goes back to January 1928 and consistently reflects a tilt towards
small cap and value
equities over time, with an increasing diversification to
international markets, emerging markets and real estate investment trusts as data became available.
In the
equity portion, approximately 10 % is in a U.S.
small -
cap value funds and 10 % is in an
international small -
cap value fund.
• Schwab
International Small - Cap Equity ETFâ «cents * SCHC — 0.35 % Offers diversified exposure to international small - cap companies in over 20 developed international markets and seeks investment results that track the performance, before fees and expenses, of the FTSE Developed Small Cap ex U.S. Liquid Index made up of approximately 1,800 international smal
International Small - Cap Equity ETFâ «cents * SCHC — 0.35 % Offers diversified exposure to international small - cap companies in over 20 developed international markets and seeks investment results that track the performance, before fees and expenses, of the FTSE Developed Small Cap ex U.S. Liquid Index made up of approximately 1,800 international small cap st
Small -
Cap Equity ETFâ «cents * SCHC — 0.35 % Offers diversified exposure to international small - cap companies in over 20 developed international markets and seeks investment results that track the performance, before fees and expenses, of the FTSE Developed Small Cap ex U.S. Liquid Index made up of approximately 1,800 international small cap stoc
Cap Equity ETFâ «cents * SCHC — 0.35 % Offers diversified exposure to
international small - cap companies in over 20 developed international markets and seeks investment results that track the performance, before fees and expenses, of the FTSE Developed Small Cap ex U.S. Liquid Index made up of approximately 1,800 international smal
international small - cap companies in over 20 developed international markets and seeks investment results that track the performance, before fees and expenses, of the FTSE Developed Small Cap ex U.S. Liquid Index made up of approximately 1,800 international small cap st
small -
cap companies in over 20 developed international markets and seeks investment results that track the performance, before fees and expenses, of the FTSE Developed Small Cap ex U.S. Liquid Index made up of approximately 1,800 international small cap stoc
cap companies in over 20 developed
international markets and seeks investment results that track the performance, before fees and expenses, of the FTSE Developed Small Cap ex U.S. Liquid Index made up of approximately 1,800 international smal
international markets and seeks investment results that track the performance, before fees and expenses, of the FTSE Developed
Small Cap ex U.S. Liquid Index made up of approximately 1,800 international small cap st
Small Cap ex U.S. Liquid Index made up of approximately 1,800 international small cap stoc
Cap ex U.S. Liquid Index made up of approximately 1,800
international smal
international small cap st
small cap stoc
cap stocks.