The Best Offshore Funds

After scoring in Japan and South Korea, global managers are looking to U.S. high tech and the Continent

The U.S. stock market is on a roller coaster, surging one day, slumping the next. Interest rates are climbing, and investors are on edge, waiting to see whether the U.S. economy has finally begun to slow. The prospects overseas are more promising: Europe is restructuring, and Asia is recovering. Most global fund managers expect those regions to pick up the slack. But even the most sanguine among them advise caution.

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