Point for Europe
European market discoveries make this fund a good find.
Emerging markets in Europe have been on a tear recently. Ask Julian Mayo, who manages U.S. Global's Eastern European Fund (EUROX), why that's so, and he'll tell you it's a result of those markets' inefficiencies. "Even in big companies, one can have 'Eureka!' moments when finding things the market has not discovered," says Mayo, who works for Charlemagne Capital, the fund's subadvisor, in London. "The satisfaction of this type of discovery, not to mention the potential for gains, is very rewarding."
Having a fund manager located in Europe and the company's keen ability to pick stocks are behind the stellar performance of the Eastern European Fund. This five-star Morningstar fund was up 32.8 percent at the end of 2006, and its total return has averaged nearly 44 percent over the past five years.
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