The Euro May Be Tarnished, But European Funds Shine

Cheap currency is fueling economic and profit growth

Investing well in today's turbulent market is hard enough. But imagine having the added handicap of seeing your portfolio diminish in value--by nearly a quarter over the past 16 months--for reasons that are completely independent of your investments' performance. That's been the challenge for managers of Europe's mutual funds, who have watched the value of the euro sink to record lows against the dollar since its launch in January, 1999.

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