This is another one of my favourite global equity funds, particularly for periods of higher than normal volatility. When volatility returns, and mark my words, it will, this is the global equity fund you will want to be holding. In a down market, it holds up significantly better than other global equity offerings. For example, in 2008 when the average fund was down 30%, it was down only 6.7%, and in 2011, the average fund was down 6.7%, yet this fund was higher by 3.2%. The tradeoff, of course, is that you will lag behind in a sharply rising market. But if you’re comfortable with not making as much on the upside to protect capital when things get rough, this is the fund to do that.