LMI Capital Management LLC, investment adviser to WorldWide Index Funds, announced several improvements to eliminate currency risk and allow investors access to leading local market indexes of established exchanges in Europe, Australia and Asia. The WorldWide Index Funds include 13 no-load equity index funds. Eleven of the funds track major markets in individual countries and two "fund of funds" - the Europe Index Fund and the International Index Fund - offer investment in a combination of indexes.
The Europe and International Index Fund of Funds will now be weighted equally for each of the underlying indexes. Previously, investments were weighted according to the relative equity market capitalizations of the countries represented. Also, financial advisers and retail investors will be able to exchange among the WorldWide Index Funds without incurring fees. The minimum initial investment for the funds' retail shares has been lowered from $5,000 to $1,000.