Classic and Current Rationale Spell Investment Opportunities Overseas
Sources: FactSet, MSCI.com, and Standard & Poor’s. U.S. is the S&P 500 Index, other regions are MSCI indices. All MSCI indices are net USD returns. Past performance does not guarantee future results.
Source: Morgan Stanley, Bloomberg. Past performance does not guarantee future results.
Source: MSCI AC World Index as of December 2016. Non-U.S. percentage excludes the United States.
Since 1970, the U.S. share of global stock market capitalization fell from a towering 66% to 54%, as the rest of the
world created new and exciting public companies to invest in.
Source: International Monetary Fund, World Economic Outlook Database, October 2016.
The U.S.’s share of the world’s economic output stood at 26% in 1980, and has shrunk to 22%, as emerging markets,
especially China, continue to represent more of the global pie.
We search the globe for fundamentally sound, undervalued companies, more of which are overseas. Non-U.S.
company P/Es are at a 10-year low relative to the U.S.
The Purchasing Managers’ Indices (PMI), a survey indicator of economic health, all remain strong with strength in both manufacturing PMI and services PMI.
Industrial production in Europe, measured by the industrial production index, is at the highest level in five years.
International Investing: Get Ahead of the Curve
The current and classic rationale for overseas investing are compelling, especially right now!