NEW YORK ( TheStreet) -- Emerging market consumers will buy banking services as their incomes rise, says Jim Moffett, manager of the Scout International Fund (UMBWX), and that's why it's a good time to own international banks like Standard Chartered (SCBFF.PK) and HSBC (HBC).The $6.8 billion mutual fund, which garners a full five stars from Morningstar (MORN), has risen 6.9% this year, beating 60% of its rivals. Over five years, the fund has generated average annual returns of 6.4%, better than 85% of its peer group.
Emerging Market Picks, From Banking to Beer
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.