USAA InternationalUSIFX

Morningstar Rating

Fund Research and Analysis

by William Samuel Rocco

The management team at USAA International has been modified.

After comanaging the portfolio with Marcus Smith for a little more than seven years, David Mannheim left this fund's management team early this month. Daniel Ling became Smith's comanager on this fund at the same time. Read more

Kudos

Prudent and consistent growth strategy with a keen eye on risk.

Low volatility.

Comanager Marcus Smith is seasoned. Read more

Risks

Tends to lag during momentum-driven rallies.

Not zippy enough for those seeking a go-go growth vehicle.

Davaid Mannheim, who is skilled as well as seasoned, left his comanager position in the fall of 2009. Read more

Strategy

Management builds relatively concentrated portfolios of companies it believes can sustain steady growth. Turnover tends to be about 50% per year, which is well below average for foreign growth funds. Read more

Management

A two-person team from MFS Investments has run this fund since mid-2002. Marcus Smith has been a comanager on that team since then, while Daniel Ling joined the team in October 2009, when he replaced David Mannheim (who has run MFS Global Equity with considerable success since the early 1990s and remains in charge there). Read more

Inside Scoop

This fund's managers, Marcus Smith and Daniel Ling of MFS, run this offering with a middle-of-the-road approach to foreign-stock investing. Read more

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