Eastern Europe Outshines Greece, Spain
LOS ANGELES (TheStreet) -- Russian companies including Lukoil (LUKOY), Rosneft (ROSN) and Vimpelcom (VIP) powered the Metzler/Payden European Emerging Markets Fund (MPYMX) to a 52% return in the past year, the ninth-best performance of 3,250 U.S. mutual funds that buy stocks abroad.
The $198 million mutual fund doubled last year and has fallen only once during a calendar year since it was started in 2002. Still, it plunged 67% in 2008, when global stock markets collapsed.
Lukoil, Russia's top non-state oil company, Rosneft, Russia's biggest oil producer, and Vimpelcom, Russia's second-largest mobile-phone firm, are the fund's three biggest holdings, accounting for almost 12% of assets at the end of March. Energy stocks make up a fifth of the mutual fund, the second-largest industry after financials, at 25%. Materials are the No. 3 sector, representing 18% of assets.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV