Steven K. Rubel

According to Steve Rubel, senior vice president of Janney Montgomery Scott LLC, "Having exposure to different economies helps ensure greater overall balance, because while some markets are slowing down others will be growing."
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Registered rep Steven Rubel of Janney Montgomery Scott believes finding the right fund family is the best way to go."For me," Rubel explains "American Funds provides a variety of fund choices that are transparent with low expenses, and long-term management that during my 30 years with them have delivered above-market returns." He invests a low-double-digit percentage of his $130 million in assets in foreign securities, two-thirds of which are spread across three large-cap funds to achieve effective global allocation.He uses class "A" shares, explaining that they typically generate the best returns by getting the sales fee quickly out of the way and offering the lowest annual expenses, which re all under 77 basis points.The majority of his foreign fund exposure is in American Funds' value-oriented New Perspective Fund, with nearly two-thirds of its assets in international stocks.According to Morningstar, its five-year, nonload-adjusted annualized return through October 2 was 12.45%, or 209 bps above the MSCI World Index.Rubel has additional exposure in the dividend-focused Capital World Growth & Income Fund, whose five-year, nonload-adjusted annualized return of 16.18% is 577 bps above the World Index.And Rubel also is invested in the EuroPacific Growth Fund, a pure international capital appreciation play.Its nonload-adjusted, five-year annualized return of 15.42% tops EAFE by 105 bps.Rubel leaves the issue of currency exposure up to the funds' managers, explaining that FX is part of the foreign investing process."They've proven their worth over several decades I've used them," says Rubel, "and that makes it easier to have faith in what they're doing."

"When you're dealing with financially sound, well-managed companies," said Steve Rubel, senior vice president of Janney Montgomery Scott, "the chances of management missing a preferred payment is about the same as for failing to pay interest on a senior bond, since the implications on the company's corporate rating and image would be comparable."

According to Steve Rubel, senior vice president of Janney Montgomery Scott LLC, "Having exposure to different economies helps ensure greater overall balance, because while some markets are slowing down others will be growing."
...
Registered rep Steven Rubel of Janney Montgomery Scott believes finding the right fund family is the best way to go. "For me," Rubel explains "American Funds provides a variety of fund choices that are transparent with low expenses, and long-term management that during my 30 years with them have delivered above-market returns." He invests a low-double-digit percentage of his $130 million in assets in foreign securities, two-thirds of which are spread across three large-cap funds to achieve effective global allocation. He uses class "A" shares, explaining that they typically generate the best returns by getting the sales fee quickly out of the way and offering the lowest annual expenses, which re all under 77 basis points. The majority of his foreign fund exposure is in American Funds' value-oriented New Perspective Fund, with nearly two-thirds of its assets in international stocks. According to Morningstar, its five-year, nonload-adjusted annualized return through October 2 was 12.45%, or 209 bps above the MSCI World Index. Rubel has additional exposure in the dividend-focused Capital World Growth & Income Fund, whose five-year, nonload-adjusted annualized return of 16.18% is 577 bps above the World Index. And Rubel also is invested in the EuroPacific Growth Fund, a pure international capital appreciation play. Its nonload-adjusted, five-year annualized return of 15.42% tops EAFE by 105 bps. Rubel leaves the issue of currency exposure up to the funds' managers, explaining that FX is part of the foreign investing process. "They've proven their worth over several decades I've used them," says Rubel, "and that makes it easier to have faith in what they're doing."

Steven K. Rubel