Four Funds That Consistently Beat the Market

When it comes to consistently beating the S&P 500, the successor to Legg Mason's legendary Bill Miller is likely to have a foreign accent -- or at least an investment focus outside the U.S.

As the door mercifully closed on 2008, TheStreet.com Ratings parsed its database of stock mutual funds for any that have outperformed the S&P 500 total-return index during each of the past 10 calendar years. Only a quartet of internationally focused funds, listed in the accompanying table, passed the test.

International funds tended to fall out of favor in 2008, especially late in the year when a surprisingly rejuvenated U.S. dollar muted their already lackluster returns. But the four open-end stock funds belwo held on to respective performances, albeit negative, that bested the S&P 500 for the year. That was sufficient to beat all other open-end stock funds in consistency of besting the popular market gauge.

With two broad-based international funds, an Asian investment vehicle and a European-focused portfolio, the list offers wide international diversification for those willing to venture abroad with their investments.

The Columbia International Value Fund (EMIEX Quote) is 51% invested in the U.K. and Western Europe, with 31% of its assets in Japan and 8% each in Asia, excluding Japan, and Latin America.

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