The turmoil in the European markets have resulted in economic contagion to other nations and affected investor confidence throughout the world. This has led to many investors withdrawing funds from risky assets and parking them in “safer” securities. However, on the flip side of all the negativity and fear, this has resulted in many developed and emerging market equities trading at attractive valuations indicating good entry points. For investors looking to capitalize on these opportunities global mutual funds provide a diversified and cost effective investment avenue coupled with professional insight.

Below we will share with you 5 top rated global mutual funds. Each has earned a Zacks #1 Rank (Strong Buy) as we expect these mutual funds to outperform their peers in the future. To view the Zacks Rank and past performance of all global funds, investors can click here to see the complete list of funds.

Thornburg Global Opportunities A ( THOAX - MF report ) seeks capital appreciation over the long term. The fund focuses on investing in equity as well as debt securities issues by domestic and foreign companies. It may consider investing in smaller companies with lesser market capitalizations. The global mutual fund has a three year annualized return of 20.18%.

The global mutual fund has a minimum initial investment of $5,000 and an expense ratio of 1.48% compared to a category average of 1.44%.

Ivy Cundill Global Value A ( ICDAX - MF report ) seeks long term capital appreciation by primarily investing in equity securities issued by local companies in developed as well as emerging markets. The stocks are considered undervalued compared to their current market valuations. It may invest up to 20% of its assets in fixed income securities as well. The global mutual fund has a three year annualized return of 10.86%.

As of March 2012, this global mutual fund held 46 issues, with 7.12% of its total assets invested in Microsoft Corporation.

Marsico Global Fund ( MGLBX - MF report ) seeks capital growth. The fund invests in common stock of domestic as well foreign companies with a focus on companies having their principal business outside the U.S. The stocks are selected on their growth potential. The global mutual fund has a three year annualized return of 22.86%.

Thomas F. Marsico is the fund manager and he has managed this global mutual fund since 2007.

ING Global Value Choice A ( NAWGX - MF report ) seeks long term capital appreciation. A minimum of 80% of its assets is invested in a variety of asset classes like common and preferred stocks, depository receipts, derivatives and convertible securities issued primarily by foreign companies. It has a 25% cap on emerging market securities. The global mutual fund has a three year annualized return of 14.21%.

The global mutual fund has a minimum initial investment of $1,000 and an expense ratio of 1.42% compared to a category average of 1.44%.

GAMCO Global Growth AAA ( GICPX - MF report ) seeks capital appreciation by investing predominantly in common stocks of companies having an above par growth potential. The issuers of these stocks must be located in at-least three countries with a minimum of 40% of its assets invested in non U.S securities. The global mutual fund has a three year annualized return of 17.68%.

Howard F. Ward is the fund manager and he has managed this global mutual fund since 1994.

To view the Zacks Rank and past performance of all global mutual funds, investors can click here to see the complete list of funds.

About Zacks Mutual Fund Rank

By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward. Learn more about the Zacks Mutual Fund Rank at http://www.zacks.com/funds.