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Is MSIF Global Opportunity Portfolio I (MGGIX) a Strong Mutual Fund Pick Right Now?
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If you're looking for a Mutual Fund Equity Report fund category, then a potential option is MSIF Global Opportunity Portfolio I (MGGIX - Free Report) . MGGIX has a Zacks Mutual Fund Rank of 3 (Hold), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
MGGIX is a part of the MorgStanley family of funds, a company based out of New York, NY. MSIF Global Opportunity Portfolio I debuted in May of 2010. Since then, MGGIX has accumulated assets of about $5.22 billion, according to the most recently available information. Kristian Heugh is the fund's current manager and has held that role since May of 2010.
Performance
Of course, investors look for strong performance in funds. This fund in particular has delivered a 5-year annualized total return of 20.17%, and is in the top third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 19.38%, which places it in the top third during this time-frame.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. MGGIX's standard deviation over the past three years is 19.22% compared to the category average of 15.12%. The standard deviation of the fund over the past 5 years is 17.83% compared to the category average of 13.39%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 0.94, the fund is likely to be less volatile than the market average. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. With a positive alpha of 4.22, managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.
Expenses
As competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, MGGIX is a no load fund. It has an expense ratio of 0.90% compared to the category average of 1.10%. So, MGGIX is actually cheaper than its peers from a cost perspective.
This fund requires a minimum initial investment of $5 million, while there is no minimum for each subsequent investment.
Bottom Line
Overall, MSIF Global Opportunity Portfolio I ( MGGIX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, MSIF Global Opportunity Portfolio I ( MGGIX ) looks like a somewhat average choice for investors right now.
This could just be the start of your research on MGGIXin the Mutual Fund Equity Report category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. And don't forget, Zacks has all of your needs covered on the equity side too! Make sure to check out Zacks.com for more information on our screening capabilities, Rank, and all our articles as well.
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Is MSIF Global Opportunity Portfolio I (MGGIX) a Strong Mutual Fund Pick Right Now?
If you're looking for a Mutual Fund Equity Report fund category, then a potential option is MSIF Global Opportunity Portfolio I (MGGIX - Free Report) . MGGIX has a Zacks Mutual Fund Rank of 3 (Hold), which is based on nine forecasting factors like size, cost, and past performance.
History of Fund/Manager
MGGIX is a part of the MorgStanley family of funds, a company based out of New York, NY. MSIF Global Opportunity Portfolio I debuted in May of 2010. Since then, MGGIX has accumulated assets of about $5.22 billion, according to the most recently available information. Kristian Heugh is the fund's current manager and has held that role since May of 2010.
Performance
Of course, investors look for strong performance in funds. This fund in particular has delivered a 5-year annualized total return of 20.17%, and is in the top third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 19.38%, which places it in the top third during this time-frame.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. MGGIX's standard deviation over the past three years is 19.22% compared to the category average of 15.12%. The standard deviation of the fund over the past 5 years is 17.83% compared to the category average of 13.39%. This makes the fund more volatile than its peers over the past half-decade.
Risk Factors
With a 5-year beta of 0.94, the fund is likely to be less volatile than the market average. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. With a positive alpha of 4.22, managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.
Expenses
As competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, MGGIX is a no load fund. It has an expense ratio of 0.90% compared to the category average of 1.10%. So, MGGIX is actually cheaper than its peers from a cost perspective.
This fund requires a minimum initial investment of $5 million, while there is no minimum for each subsequent investment.
Bottom Line
Overall, MSIF Global Opportunity Portfolio I ( MGGIX ) has a neutral Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, MSIF Global Opportunity Portfolio I ( MGGIX ) looks like a somewhat average choice for investors right now.
This could just be the start of your research on MGGIXin the Mutual Fund Equity Report category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. And don't forget, Zacks has all of your needs covered on the equity side too! Make sure to check out Zacks.com for more information on our screening capabilities, Rank, and all our articles as well.