The Europe 30 ProFund follows a passive strategy of investment, as it intends to replicate the performance of the underlying benchmark.
The T. Rowe Price European Stock Fund (PRESX) fell 5.6% in August 2015 from a month ago—the second-lowest decliner among the six mutual funds in this review.
Geographically, 29.6% of the T. Rowe Price European Stock Fund’s assets were invested into companies in the United Kingdom at the end of July 2015.
The Putnam Europe Equity Fund (PEUGX) fell 6.0% in August 2015 from a month ago—the third highest among the six mutual funds under this review.
The Putnam Europe Equity Fund has been in operation since September 1990. As of August 2015, the fund was managing assets worth $370.3 million.
The Ivy European Opportunities Fund fell 5.5% in August from a month ago—the least among the six mutual funds under this review. Beyond this period, the fund’s performance has been less impressive.
The Ivy European Opportunities Fund was launched in May 1999 and as of August 2015, it was managing assets worth $232.7 million.
The Fidelity Advisor Europe Fund’s July 2015 portfolio was focused on the financials, industrials, and healthcare sectors, with exposures of 25.3%, 22.7%, and 21.5%, respectively.
As of August 2015, the Fidelity Advisor Europe Fund was managing assets worth $1.45 billion. Founded in 1986, the fund’s net expense ratio is 1.35%.
The movement in prices for TRREX, CSRSX, and FRESX shows a close relationship to the performance of the top holding in each portfolio.
Average annual returns for TRREX, CSRSX, and FRESX were 2.41%, 2.33%, and 1.39%, respectively. The returns are lower than the average annual return over the funds’ three-year and five-year periods.
YTD as of September 16, 2015, returns on an average annualized basis reflect the gloomy scenario of the real estate sector this year. FRESX returned -15.9%, CSRSX returned -20.5%, and TRREX returned -10.6% in the period.
The T. Rowe Price Growth Stock Fund (PRGFX) had returns of -5.72% for August 2015. Returns for the three-month period ended August 31 were -2.2%, and returns for one year were 8.51%.
AGTHX returned -5.4% for the one-month period ended August 31, 2015. For the three-month period ended August, the fund fell 4.75%.
The Vanguard 500 Index Admiral Shares (VFIAX) returned -6.04% in the month of August. In the three-month period ended August 31, 2015, it returned -5.92% due to a fall in the US stock market.
China’s CPI rose to 2% in August year-over-year, mainly due to higher food prices, especially pork, and not due to an improvement in economic activity.
China’s foreign trade data for August were released on September 8. China’s exports in US dollar terms fell 5.5% year-over-year (or YoY) in August, while imports fell sharply by 13.8% YoY.
Consumer discretionary stocks and financials formed the core of the SunAmerica Japan Fund’s (SAESX) portfolio, making up 27.9% and 23.1% of total assets, respectively.
As of the end of August 2015, the SunAmerica Japan Fund (SAESX) was managing assets worth $41 million. Its net expense ratio is 1.90%, and it charges a 12b-1 fee of 0.35%.
Industrials and consumer discretionary stocks form the core of the T. Rowe Price Japan Fund’s portfolio, making up 26.0% and 21.0% of the total assets, respectively.