Global Funds to Fight the Gloom

Three go-anywhere managers find opportunities amid the turmoil of the world’s markets.

Could someone please pass me an antidepressant? Heaps of bad economic news and the bleak pronouncements of many speakers at Morningstar’s annual investment conference in Chicago make me want to hide under the bed. However, comments by three globe-trotting fund managers give me reason to be a little more upbeat.

Investors are depressed after a decade of poor stock returns. But you can now invest in companies with strong growth prospects at bargain prices, says Dan O’Keefe, co-manager of Artisan Global Value (symbol ARTGX). For example, American Express (AXP) trades for 13 times what analysts expect the company to earn this year. That’s well below its average price-earnings ratio of 18 over the past five years. The company, O’Keefe says, will benefit as the world continues to move from paper money to credit cards. He also likes MasterCard (MA) for the same reason.

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Contributing Editor, Kiplinger's Personal Finance