PNC International Growth Fund seeks to provide long-term capital appreciation. The fund aims to achieve this objective by primarily investing in equity securities that are economically tied to a number of countries throughout the world. A top-down/bottom-up approach results in a diversified portfolio that is flexible to market conditions.
- Earnings growth drives stock prices.
- Investing in international markets is best suited by a combination of top-down and bottom-up analysis.
- Limited geographic, sector, or market capitalization constraints allow international investors to capture the best investment ideas.
By integrating top-down country allocation analysis
with bottom-up security analysis, we:
Aim to identify companies with
- robust and sustainable growth rates
- high-quality balance sheets
- management teams with clearly defined growth strategies
In countries that have
- reasonable valuations
- low risk (including currency)
- strong economic growth
International investments are subject to special risks not ordinarily associated with domestic investments, including currency fluctuations, economic and political change and differing accounting standards that may adversely affect portfolio securities. These risks may be heightened in emerging markets. To the extent that the Fund invests directly in foreign currencies or in securities that trade in, and pay revenues in, foreign currencies, or derivatives that provide exposure to foreign currencies, the Fund will be exposed to the risk that the currencies will decline in value relative to the U.S. dollar, or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the hedged currency. Investments in growth companies can be more sensitive to the company's earnings and more volatile than the stock market in general. The Fund may invest a portion of its assets in derivatives. Derivative instruments include options, futures and options on futures. A small investment in derivatives could have a potentially large impact on the Fund’s performance. The Fund may be unable to terminate or sell a derivatives position. Derivative counterparties may suffer financial difficulties and may not fulfill their contractual obligations.