Value investors seeking international exposure may not realize it, but they don't have to abandon their investing principles when buying an international stock fund.

U.S. investors tend to be less concerned with the divisions between growth and value when it comes to picking a global fund. In most cases, they are just happy to fill a slot in their asset allocations and be done with it.

Nevertheless, there are a number of international funds that concentrate on value investing, including the ( ICDAX) Ivy Cundill Global Value fund, which is co-managed by Hhu Ng.

Ng says he is still finding fantastic buying opportunities in Japan even though the run-up in Japanese stocks has lifted his fund's Japan stake to 50% of the portfolio. On the other hand, he's tremendously underweight China, where he says many so-called value stocks are not always what they are cracked up to be. Ng's fund is up 12% year to date.

Ng stopped by to chat about where in the world he's digging for values. (Here's a hint: His next stop may be right here in the U.S.)

To view Gregg Greenberg's StreetWatch interview with Ng, click here .

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