The Litman Gregory Masters International fund garnered a gold star rating from Morningstar, Inc.
“This fund has all the makings of a superior stand-alone foreign offering,” wrote William Samuel Rocco, Morningstar senior mutual fund analyst in a report.
The fund seeks long-term growth of capital, and is run by six sub-advisors. Normally each proven sub-adviser manages a portfolio typically composed of between 8 and 15 stocks. Litman Gregory Masters Intl Instl Fund normally invests at least 80% of assets in the securities of companies organized or located outside of the United States, including large-, mid-, and small-cap companies and companies located in emerging markets. Each sub-advisor uses its own discretion to invest in any sized company it deems appropriate. The managers have limited flexibility to invest in the securities of U.S. companies.
The sub-advisor firms are Thornburg Investment Management, Northern Cross, Harris Associates, Third Avenue Management, Mastholm Asset Management, and Marsico Capital Management.
It has achieved 12.32% return in the past three years.
According to the Morningstar report, this fund relies on six distinct strategies:
- Bill Fries and Vinson Walden of Thornburg invest in a mix of basic-value names, consistent earners, and emerging franchises.
- The Northern Cross Team team follows a moderate blue-chip value style.
- David Herro of Harris Associates concentrates on stocks that are trading at steep discounts to their intrinsic value.
- James Gendelman of Marsico Capital Management favors fast-growing companies.
- Ted Tyson of Mastholm favors larger companies with accelerating earnings or other positive news that are selling below their historical averages.
- Amit Wadhwaney of Third Avenue looks for firms trading at deep discounts to their private or liquidation values.
“And all six of the managers search far and wide for stocks that meet their standards. Thus, this fund ranks among the widest-ranging foreign blend funds around, with broader style, marketcap, and geographic exposure than most of its rivals,” wrote Rocco.