Wood, Struthers & Winthrop Management Corp.
Wood, Struthers & Winthrop (WSW), is a registered investment advisory
subsidiary of Donaldson, Lufkin & Jenrette Securities Corporation (DLJ). It
provides investment advisory services to wealthy individuals and families
and it serves as the advisor to the Winthrop Opportunity Funds, a family of
international mutual funds.
AXA Asset Management Partenaires, the sub-advisor to the Winthrop
Opportunity Funds, has 30 years of global investment management experience.
It has investment responsibility for more than $63 billion of assets and is
a recognized leader among European fund managers. Its worldwide network of
affiliates and contacts provides portfolio managers with valuable insights
into conditions in different countries around the world.
The Worlds Top Performing Stock Markets
1 2 3 4 5
1986 Spain Italy Japan Belgium France
1987 Japan Spain U.K. Canada Denmark
1988 Belgium Denmark Sweden Norway France
1989 Austria Malaysia Germany Norway Denmark
1990 U.K. Hong Kong Austria Norway Denmark
1991 Hong Kong Australlia U.S.A. Singapore New Zealand
1992 Hong Kong Malaysia Switzerland U.S.A. Singapore
1993 Hong Kong Malaysia Finland Singapore New Zealand
1994 Finland Norway Japan Sweden Ireland
1995 Switzerland U.S.A. Sweden Spain Netherlands
Source: MSCI
"Investment strategies will have to become increasingly international
because higher rates of return will be more attainable in emerging
economies due to the movement of both financial and physical capital_The
demand for consumer goods is shifting from developed to emerging
economies."
Richard Hokenson, Chief Economist,
Donaldson, Lufkin & Jenrette
Securities Corporation
1970 1995
United States 66% United States 41.9%
Foreign 58.1% Foreign 34%
Non-US stock markets now represent 58% of the world's stock market
capitalization.
Source MSCI, as of December 31, 1970 and December 31, 1995
At Wood, Struthers & Winthrop (WSW) we believe that 1996 is an excellent
time for U.S. investors to consider international investing. We believe the
international markets offer excellent return potential and diversification
for investors who already own domestic mutual funds. We note that:
The U.S. markets are mature and are near all-time highs.
Foreign markets are very attractively valued and have produced
excellent returns historically.
Our own clients have committed more than $50 million to the Winthrop
Opportunity Funds.
Winthrop Opportunity Fund Portfolio Composition
as of 6/30/96
Winthrop International Equity Fund
Japan, Germany, France, Italy, United Kingdom, Netherlands,
Hong Kong, Austria, Switzerland, Spain
Winthrop Developing Markets Fund
Maylaysia, Brazil, Mexico, South Africa, Argentina, Thailand,
Portugal, Chile, Korea, India
For More Information
Complete information about the Winthrop Opportunity Funds, including
charges and expenses is included in the Funds' prospectus, which you should
read carefully before investing or sending money.
To Invest in the Winthrop Funds, please call
your Registered Representative.
Winthrop Mutual Funds
