Kiplinger\'s Personal Finance 03.2020

28 KIPLINGER’S PERSONAL FINANCE^ 03/2020

1. Hotchkis & Wiley Value Opps A 13.4%


2. T. Rowe Price Capital Appreciation* 11.8


3. Wells Fargo Diversified Cap Bldr A 11.7


4. Value Line Asset Allocation Inv 11.1


5. Bruce Fund 10.6


6. Franklin Convertible Securities A* 10.6


7. MFS Aggressive Growth Allocation A 10.6


8. Fidelity Strategic Dividend & Income 10.6


9. Great-West Aggressive Profile Inv 10.5


10. Wells Fargo Index Asset Allocation A 10.5
    CATEGORY AVERAGE 7.7%

1 0 YEARS

1. Franklin Convertible Securities A* 10.6%


2. T. Rowe Price Capital Appreciation* 10.5


3. Wells Fargo Diversified Cap Bldr A 10.2


4. MFS Aggressive Growth Allocation A 9.7


5. Value Line Asset Allocation Inv 9.5


6. Plumb Balanced 9.3


7. Eaton Vance Tax-Managed Eq Aset Allc A 9.2


8. American Funds 2050 Trgt Date Retire A 9.2


9. American Funds 2055 Trgt Date Retire A 9.2


10. Value Line Capital Appreciation Inv 9.1
    CATEGORY AVERAGE 6.3%

(^) 5 YEARS
Hybrid funds own a mix of stocks and bonds,
and in 2019, it paid to tilt toward stocks. At
year-end, eight of the top 10 performers for
the one-year period held more than 80% in
stocks. Fidelity Convertible Securities made
the list with convertible bonds, which pay
regular coupon payments like any bond
but can be converted into a predetermined
amount of the issuer’s stock. Value Line Capi-
tal Appreciation and Value Line Asset Alloca-
tion use the firm’s “timeliness” rankings to
find attractive stocks. The former recently
held 84% of assets in stock; the latter holds
a 60-30-10 split among stocks, bonds and
cash. Plumb Balanced, which holds about
60% of assets in stocks, focuses on innova-
tive firms with ample recurring revenue
streams. Visa and Mastercard are the top
two holdings in the 37-stock portfolio.
Foreign markets have struggled to keep up
with shares in the U.S. That said, several
funds walloped their peers and the broad U.S.
stock market in 2019—among them, Fidelity
International Growth, a member of the Kip-
linger 25. Manager Jed Weiss favors attrac-
tively priced shares in large, growing foreign
companies that can raise or hold prices firm
even when demand is sluggish. A chunk of
investments in U.S. firms, including Visa and
Mastercard, have helped. Vanguard Inter-
national Growth invests in large, growing
companies, too, but it’s got a slightly riskier
profile, thanks to a stash (22% of assets) in
emerging-markets stocks that’s twice as big
as that of its competition.
HYBRID FUNDS
Aggressiveness paid off.
LARGE-COMPANY
FOREIGN STOCK FUNDS
Catching up to U.S. markets.

1. MFS Aggressive Growth Allocation A 29.7%


2. Fidelity Convertible Securities 28.6


3. Virtus Tactical Allocation A 28.5


4. Manning & Napier Target 2060 K 28.2


5. Manning & Napier Target 2055 K 28.2


6. Manning & Napier Target 2050 K 28.1


7. ICON Equity Income S 27.7


8. American Century One Choice VryAgrsv Inv 27.6


9. TIAA-CREF Lifestyle Aggressive Gr Retail 27.6


10. Wells Fargo Diversified Cap Bldr A 27.5
    CATEGORY AVERAGE 19.5%

1 YEAR

1. Mercator International Opportunity A 38.5%


2. PGIM Jennison International Opps A 38.0


3. Franklin Intl Growth A 36.9


4. Invesco International Select Equity A 35.3


5. WCM Focused International Growth Inv 35.0


6. Morgan Stanley Inst International Opp A 34.8


7. AB Concentrated International Growth A 34.3


8. Great-West International Growth Inv 34.1


9. Fidelity International Growth 34.0


10. Columbia Acorn International Sel A 33.4
    CATEGORY AVERAGE 23.2%


11. Morgan Stanley Inst International Opp A 14.7%


12. Morgan Stanley Inst Intl Advtg A 14.7


13. WCM Focused International Growth Inv 11.6


14. PGIM Jennison International Opps A 10.7


15. Vanguard International Growth Inv 10.6


16. Franklin Intl Growth A 10.2


17. MFS International Intrinsic Value A* 9.9


18. Virtus SGA International Growth A 9.8


19. William Blair International Ldrs N 9.7


20. Fidelity International Capital Apprec 9.5
    CATEGORY AVERAGE 5.6%


21. Morgan Stanley Inst International Opp A 21.8%


22. PGIM Jennison International Opps A 21.3


23. Morgan Stanley Inst Intl Advtg A 20.9


24. Vanguard International Growth Inv 17.9


25. WCM Focused International Growth Inv 17.8


26. ClearBridge International Growth A 17.3


27. Franklin Intl Growth A 17.0


28. Columbia Acorn International Sel A 16.5


29. Fidelity International Capital Apprec 16.5


30. Polen International Growth Inv 16.3
    CATEGORY AVERAGE 9.7%


31. ClearBridge International Growth A 10.7%


32. MFS International Intrinsic Value A* 9.8


33. Thornburg International Growth A 9.8


34. Fidelity International Capital Apprec 9.7


35. Pimco StocksPLUS Intl (USD-Hedged) A 9.4


36. Touchstone International ESG Equity A 9.3


37. JHancock International Growth A* 9.0


38. Artisan International Value Inv* 9.0


39. Great-West International Value Inv 8.9


40. Fidelity International Growth 8.8
    CATEGORY AVERAGE 5.5%

1 YEAR

(^) 5 YEARS
3 YEARS
10 YEARS

1. Franklin Convertible Securities A* 15.1%


2. Value Line Capital Appreciation Inv 15.0


3. Plumb Balanced 14.3


4. AllianzGI Convertible A 14.1


5. MFS Aggressive Growth Allocation A 14.0


6. Manning & Napier Target 2050 K 13.9


7. Manning & Napier Target 2055 K 13.9


8. Manning & Napier Target 2060 K 13.9


9. Value Line Asset Allocation Inv 13.7


10. Janus Henderson Balanced T 13.4
    CATEGORY AVERAGE 8.8%

3 YEARS

Returns are annualized through December 31, 2019. *Closed to new investors. SOURCE: © 2020 Morningstar Inc.

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