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US-based mutual funds that invest in securities from a number of countries, including the US, are known as world funds or global funds.
Unlike international funds that buy only in overseas markets, world funds may keep as much as 75% of their investment portfolio in US stocks or bonds.
Because world fund managers can choose from many markets, they are often able to invest in those companies providing the strongest performance in any given period.Yahoo Finance - Cite This Source - This Definition
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