PIC International Opportunities Portfolio

Benchmark: MSCI ACWI – ex USA

Investment Objective
This strategy seeks to achieve competitive returns with low volatility by evaluating and selecting what we deem are the best high quality growth opportunities outside the United States in developed and developing economies and across market capitalizations. 


Stock Selection
For investment, we consider companies that generate higher returns on capital and have better growth prospects than their global peers. Companies must have demonstrated a consistent history of additive shareholder value by producing returns above and beyond the cost of capital. Furthermore, companies must exhibit a high degree of business ethics and responsible conduct in order to qualify for inclusion.

MSCI All Country World ex-USA Index (“MSCI ACWI ex-USA”) is a market-capitalization weighted index of large and mid-cap companies across 22 of 23 Developed Markets (DM) countries (excluding the US) and 24 Emerging Markets (EM). As of November 2018, MSCI ACWI Index ex-USA covers more than 2,163 constituents across 11 sectors and approximately 85% of the free float-adjusted equity market capitalization outside the US. Published and maintained by MSCI, Inc., www.msci.com.