Overall Morningstar™ rating out of 254
Foreign Large Growth funds as of 10-31-2014 (derived from a weighted average of the fund's three-, five-, and ten-year risk adjusted return measure, if applicable).
- Long-term growth focus
- Country-specific macro analysis
- Not benchmark-driven
- Utilizes Buffalo Funds' established investment philosophy
In establishing the universe for the Fund, the investment team identifies a broad mix of foreign companies that are expected to benefit from longer-term industry, technological, global or other trends. The managers then use a bottom-up approach to select securities based on fundamental analysis of industries and the economic cycle, company-specific analysis such as product cycles and quality of management, and rigorous valuation analysis. In making portfolio selections for the Fund, the managers will also consider the economic, political and market conditions of the various countries in which the Fund may invest.
Nicole Kornitzer, CFA
William J. Kornitzer, III, CFA
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ (based on a Morningstar Risk Adjusted Return measure that accounts for variation in a fund's monthly performance, including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Buffalo International Fund received 3 stars among 254 for the three-year and 3 stars among 228 Foreign Large Growth funds for the five-year period ending 10/31/2014.
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