- Studies show low fees as one of the best predictors of long-term fund outperformance, writes Greg Carlson at Morningstar. In a contrary take, Carlson screens for funds with high fees (they earn a Negative rating for Price at Morningstar), which also stand out for outperformance (a Gold Analyst Rating).
- He finds just four:
- The Artisan International Small Cap Fund (MUTF:ARTJX) has been closed to new investors since less than two years after its 2001 launch - likely a reason for its great performance. Its expense ratio of about 1.5% is six bps above the norm for funds of its type, but it's beaten peers decisively over three, five, and ten year time frames.
- The others: Artisan International Value (MUTF:ARTKX), Causeway International Value (MUTF:CIVVX), and Weitz Partners Value (MUTF:WPVLX).