IVY EUROPEAN FUND $12.72 (CWA Rating: Aggressive) holds mostly good quality stocks, although it has underperformed the longer-term benchmark Morgan Stanley indexes.
We don’t see any reason to hold a mutual fund that concentrates in Europe. If you want European exposure, consider Ivy Foreign Equity Fund (see above), or the closed-end EUROPEAN EQUITY FUND $7.11 (New York symbol EEA; CWA Fund Rating: Conservative). European Equity Fund sells for an 18% discount from the current value of its assets. European Equity Fund is a buy.
Ivy European Fund is a sell.
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