IVY EUROPEAN FUND $11.87

IVY EUROPEAN FUND $11.87 (CWA Rating: Aggressive) holds mostly good-quality stocks. The fund has outperformed the longer-term benchmark Morgan Stanley index. Even so, we don’t see any reason to hold a mutual fund that focuses on Europe. If you want European exposure, consider the Ivy Foreign Equity Fund (see above), or the closed-end EUROPEAN EQUITY FUND $5.59. The European Equity Fund sells for a 16% discount on the current value of its assets. The fund is a buy. Ivy European Fund is a sell.

A professional investment analyst for more than 30 years, Pat has developed a stock-selection technique that has proven reliable in both bull and bear markets. His proprietary ValuVesting System™ focuses on stocks that provide exceptional quality at relatively low prices. Many savvy investors and industry leaders consider it the most powerful stock-picking method ever created.