Foreign Funds for Battered Investors With Wanderlust

The grass is always greener, and with the U.S. economy and market looking more than a little wobbly, you might find yourself sniffing around funds that invest overseas.

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Of course, it's not as if foreign markets rise when the U.S. market falls and vice versa. Thanks to corporate globalization and the dominant role of the U.S. economy and markets on the global stage, it's actually rare that a cold for the U.S. market doesn't give overseas stocks pneumonia. Last year, for instance, big-cap U.S. growth funds lost about 14% and the average foreign fund tumbled 15.7%, according to Morningstar. And foreign markets can involve greater currency and political risks than U.S. stocks. Still, there is an advantage to spreading your assets abroad. And given that many market watchers are seeing some stellar opportunities abroad in 2001, it may be a good time to get serious. ...