USAA World GrowthUSAWX

Morningstar Rating

Fund Research and Analysis

by William Samuel Rocco

Investors seeking fairly reserved global exposure should check out USAA World Growth.

This subadvised fund did lose an important member of its management team this past spring, when Simon Todd left after serving well as an analyst and a comanager here. Read more

Kudos

Subadvisor has produced solid risk-adjusted results here and at another, identically managed offering.

Management plies a cautious and consistent approach, with an eye on downside protection. Read more

Risks

A comanager left the fund in April 2009

Reserved style can hold the fund back in go-go rallies.

Can miss out on emerging-markets and smaller-cap-led rallies.

MFS' successful, prudent, fundamental growth approach would be diluted by the addition of quantitative, more-benchmark-focused subadvisor Batterymarch. Read more

Strategy

The MFS team that runs this fund focuses on sustainable growth. It looks for stable, well-positioned companies, mostly from developed markets. It is disciplined about valuation and will take big bets against the MSCI World Index in terms of stock, sector, and country weightings. Read more

Management

David Mannheim of Massachusetts Financial Services began subadvising this fund on June 28, 2002. Mannheim is an experienced world-stock fund manager, having produced good long-term, risk-adjusted returns at MFS Global Equity for nearly 15 years. Roger Morley became Mannheim's comanager in October 2009. Read more

Inside Scoop

In October 2006, USAA retained the services of a second subadvisor should MFS, the fund's manager since 2002, become overloaded. That has not occurred yet, and MFS currently runs 100% of the fund's assets. Read more

First Name

Last Name

Email Address

Zip Code

Create Password

Verify Password

(6-15 characters; case sensitive)

What is your occupation or job title?

Select...

Your registration indicates agreement to the terms of use.

Picking Positions in Health Care
Watch more