If you've been stuck searching for Global - Equity funds, you might want to consider passing on by MSIF Global Opportunity Portfolio A (MGGPX Quick QuoteMGGPX - Free Report) as a possibility. MGGPX holds a Zacks Mutual Fund Rank of 4 (Sell), which is based on various forecasting factors like size, cost, and past performance.

Objective

MGGPX is classified in the Global - Equity segment by Zacks, an area full of possibilities. Even though Global - Equity mutual funds invest in bigger markets like the U.S., Europe, and Japan, these kinds of funds aren't limited by geography. Rather, they offer an investment strategy that utilizes the global economy to provide stable returns.

History of Fund/Manager

MorgStanley is based in New York, NY, and is the manager of MGGPX. Since MSIF Global Opportunity Portfolio A made its debut in May of 2010, MGGPX has garnered more than $928.03 million in assets. The fund's current manager, Kristian Heugh, has been in charge of the fund since May of 2010.

Performance

Of course, investors look for strong performance in funds. This fund carries a 5-year annualized total return of 11.38%, and is in the middle third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of -1.54%, which places it in the bottom third during this time-frame.

It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.

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. MGGPX's standard deviation over the past three years is 25.52% compared to the category average of 0%. Looking at the past 5 years, the fund's standard deviation is 23.45% compared to the category average of 26%. This makes the fund less volatile than its peers over the past half-decade.

Risk Factors

The fund has a 5-year beta of 1.12, so investors should note that it is hypothetically more volatile than the market at large. Another factor to consider is alpha, as it reflects a portfolio's performance on a risk-adjusted basis relative to a benchmark-in this case, the S&P 500. MGGPX has generated a negative alpha over the past five years of -4.52, demonstrating that managers in this portfolio find it difficult to pick 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, MGGPX is a load fund. It has an expense ratio of 1.20% compared to the category average of 21%. Looking at the fund from a cost perspective, MGGPX is actually cheaper than its peers.

This fund requires a minimum initial investment of $1,000, while there is no minimum for each subsequent investment.

Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.

Bottom Line

Overall, even with its comparatively similar performance, average downside risk, and lower fees, MSIF Global Opportunity Portfolio A ( MGGPX ) has a low Zacks Mutual Fund rank, and therefore looks a somewhat weak choice for investors right now.

For additional information on this product, or to compare it to other mutual funds in the Global - Equity, make sure to go to www.zacks.com/funds/mutual-funds for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.