Nothing But The Best

Shawn Lytle picks the global stars for J.P. Morgan

In May, 1998, the J.P. Morgan Global 50 Fund launched a worldwide search for the 50 best large-company stocks. The goal: beating the market without extra risk. So far, so good. Through June 30, the $161 million fund returned a yearly average of 17.9%--more than three percentage points higher than its benchmark, the MSCI World Index. To see what the fund, which has clones for European and Japanese investors, is up to, Business Week's Robert Barker reached co-manager Shawn Lytle in Morgan's London office. Edited excerpts of their discussion follow:

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