International Fund

International Fund

Quick Facts
InvestorInstitutional
Ticker:BUFIXBUIIX
Inception Date:9/28/20077/1/2019
Expense Ratio:1.06%0.91%
Total Net Assets:$361.63 Million  (3/31/20)
Category:Foreign Large Cap Growth
Benchmark:Morningstar Global Markets ex-US
Related Material:
   Fund Fact Sheet Q1 2020
   PM Commentary Q1 2020
   Summary Prospectus
Fundamental Growth Investors

Portfolio Managers Bill Kornitzer and Nicole Kornitzer discuss how they attempt to find the most appropriate stocks to invest in from the thousands of companies worldwide.

“Unlike many of our peers, we aren’t trying to pick stocks that are going to be the best performers in the next week or the next quarter, but trying to strive for the best long term performance on a risk adjusted basis over time.”
  ~ Bill Kornitzer, CFA

Morningstar Rating

       

Overall Morningstar Rating™ of BUFIX based on risk-adjusted returns among 420 Foreign Large Growth funds as of 4/30/20.

Investment Style
PM Insights


International Equities
— The New Market Leaders?

Access Report >>


The Case for Investing Internationally

Access Report >>

Trump Tariffs & the Current State of International Markets

In a recent Q&A, BUFIX portfolio managers provided insightful answers to questions posed regarding the current state of the international markets.

  • What’s your take on the current status of the international market in relation to the U.S. cycle?
  • What is your opinion on President Trump’s recent announcement regarding tariffs?

Access Q&A Recordings >>

Fund Objective & Investment Strategy

The investment objective of the Buffalo International Fund is long-term growth of capital.

The International Fund invests primarily in equity securities of established companies that are economically tied to various countries throughout the world (excluding the U.S.).

For purposes of the International Fund’s investments, “foreign securities” means those securities issued by companies:

  • Organized under the laws of, or with a principal office in, a country other than the U.S. and issue securities for which the principal trading market is in a country other than the U.S.; or
  • That derive at least 50% of their revenues or profits from goods produced or sold, investments made, or services provided in a country other than the U.S., or have at least 50% of their assets in a country other than the U.S.
  • Under normal circumstances, the International Fund does not expect its investments in emerging markets to exceed 35% of its net assets.
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When it comes to investing internationally, we believe our approach to stock selection is distinct. We are focused on finding good companies and aren’t constrained by benchmark alignment to countries or industries.

Our approach is based on finding companies with sound business models, exposure to long-term secular growth trends, and attractive risk/return growth and valuation characteristics, which we can own for the long-term.

Nicole Kornitzer, Portfolio Manager

Performance (%)

As of 4/30/203 MOYTD1 YR3 YR5 YR10 YRSince Inception
(9/28/07)
BUFFALO INTERNATIONAL FUND - Investor-11.65-12.91-4.304.734.946.203.84
BUFFALO INTERNATIONAL FUND - Institutional-11.59-12.85-4.144.895.106.363.99
  Morningstar Global Markets ex-US Index-15.59-17.89-11.59-0.330.363.380.78
  Lipper International Fund Index-15.02-17.36-10.85-0.410.263.750.75
  Morningstar Foreign Large Growth Category-10.78-12.21-3.843.622.785.421.68
As of 3/31/203 MOYTD1 YR3 YR5 YR10 YRSince Inception
(9/28/07)
BUFFALO INTERNATIONAL FUND - Investor-19.78-19.78-7.673.053.575.273.18
BUFFALO INTERNATIONAL FUND - Institutional-19.78-19.78-7.573.193.725.433.33
  Morningstar Global Markets ex-US Index-24.01-24.01-16.12-2.16-0.192.520.16
  Lipper International Fund Index-23.35-23.35-14.49-1.94-0.542.850.15
  Morningstar Foreign Large Growth Category-19.08-19.08-8.322.031.794.461.03
For performance prior to 7/1/19 (Inception Date of Institutional Class), performance of the Investor Class shares is used and includes expenses not applicable and lower than those of Investor Class shares.Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower of higher than the performance quoted and can be obtained here. Performance is annualized for periods greater than 1 year. Each Morningstar category average represents a universe of funds with similar objectives.
3 Year Risk Metrics
BUFIX vs Morningstar Global Markets ex-US Index (As of 3/31/20)
Upside Capture98.68
Downside Capture79.81
Alpha5.07
Beta0.90
Sharpe Ratio0.09
Hypothetical Growth of $10,000
This chart illustrates the performance of a hypothetical $10,000 investment made in the Fund on the Inception Date. Assumes reinvestment of dividends and capital gains. This chart does not imply future performance.

Portfolio

Portfolio Characteristics
(As of 3/31/20) 
 
# of Holdings85
Median Market Cap$25.23 B
Weighted Average Market Cap$58.76 B
3-Yr Annualized Turnover Ratio13.91%
Active Share92.36%
Market Capitalization
As of 3/31/20. Market Cap percentages may not equal 100% due to rounding.
Top 10 Holdings
Name of HoldingTickerCountrySector% of Net
Assets
Taiwan SemiconductorTSMTaiwan, Province of ChinaTechnology2.28%
KeringKERFranceConsumer Discretionary2.26%
Sartorius Stedim BiotechDIMFranceHealth Care2.24%
AonAONEnglandFinancial Services2.12%
ICICI BankIBNIndiaFinancial Services2.02%
SAP SESAPGermanyTechnology2.01%
Schneider ElectricSUFranceIndustrials2.00%
LindeLINIrelandMaterials1.97%
Carl Zeiss MeditecAFXGermanyHealth Care1.93%
LVMH Moet HennessyMCPFranceConsumer Discretionary1.90%
TOP 10 HOLDINGS TOTAL20.73%
As of 12/31/19. Top 10 Holdings for the quarter are not disclosed until 60 days after quarter end. Fund holdings are subject to change and are not recommendations to buy or sell any securities.
Sector Weighting
As of 3/31/20. Security weightings are subject to change and are not recommendations to buy or sell any securities. Sector Allocation may not equal 100% due to rounding.
Top 10 Countries
COUNTRY% of Portfolio
Net Assets
France18.88%
Germany18.57%
United Kingdom8.90%
Netherlands6.29%
Ireland6.10%
Switzerland6.08%
Japan4.50%
Spain2.34%
Taiwan, Province of China2.24%
Luxembourg2.23%
TOP 10 TOTAL76.11%

Management

Bill Kornitzer, CFA
Portfolio Manager

27 Years of Experience

 View full bio

Nicole Kornitzer, CFA
Portfolio Manager

19 Years of Experience

 View full bio

Commentary

CAPITAL MARKET OVERVIEW

(As of 3/31/20) — Global equity markets fell sharply in the first quarter of 2020 in reaction to the global spread of COVID-19. As the case count increased exponentially, the only effective response was for countries to go into lockdown. The economic impact of these actions became clear as the quarter progressed and virtually all asset classes suffered as a result. Within developed international markets, the United Kingdom and Australia were among the biggest decliners while Switzerland held up relatively well. Counterintuitively, China was a relatively strong country performer, posting a relatively modest 10% decline, while Brazil was among the worst losing 50%.

From a sector perspective, Energy and Consumer Discretionary suffered the most as the Saudis and Russians engaged in an oil price war and consumers globally went into quarantine. The Health Care and Real Estate sectors were relative outperformers during the quarter, but still managed to decline in the double digits giving small cap investors very few places to hide.

PERFORMANCE COMMENTARY

(As of 3/31/20) — The Buffalo International Fund (BUFIX) declined by 19.78% during the quarter, outperforming the Morningstar Global Markets ex-US Index’s drop of 24.01%.

TOP CONTRIBUTORS

One of the contributors to our relative outperformance for the period was Sartorius Stedim Biotech, which supplies equipment and disposables for the biological pharmaceutical industry. As you can imagine, with the rush to find prophylactics and treatments for COVID-19, suppliers to this supply chain have been relative beneficiaries. So too with our investment in Lonza Group, which produces media and active ingredients and helps pharmaceutical companies produce their biologic drugs and drug candidates. Interxion Holdings was also among the group of top contributors, as the company provides cloud and internet gateway access and was acquired in the quarter.

TOP DETRACTORS

Top detractors from portfolio performance included ICICI Bank, CTS Eventim, and Ashtead Group. ICICI Bank provides financial services throughout India, and, as the COVID-19 virus brought many businesses to a standstill, investors worried about deteriorating health in their loan book, as was the case with all financial institutions. CTS Eventim provides tickets for large gatherings like concerts and sporting events. With social distancing and stay-at-home orders, these large gatherings have been completely canceled until further notice. We exited the position during the period, as we try to assess how and when these gatherings might return. Ashtead Group provides rental equipment primarily for construction related activities. The company’s stock was hit unduly due to fears of a complete economic shutdown. We feel Ashtead will come out of a recession better positioned than ever, and companies may increasingly be likely to rent equipment rather than purchase their own as they try to maintain larger cash balances.

OUTLOOK

(As of 3/31/20) — In Europe, in an eventual post-crisis economic recovery, fiscal deficits and populism may continue to weigh on sentiment, spending, and investment. Emerging signs of stabilizing growth in the continent earlier this year now seem like a distant memory. In Japan, structural reforms have had limited success, and the consumer tax hike in October 2019 contributed to a sharp economic contraction in the 4th quarter. This market period has obviously been extremely volatile and difficult to navigate. As we saw signs of the virus spreading rapidly, we began taking action by trimming positions where valuation was getting full and/or where an eventual recovery may take longer. We initiated new positions in a few stocks we have been watching and waiting for a more attractive entry point, provided the nature of their businesses would still thrive in such an odd economic period.

The markets will have to endure some very terrible economic data for at least several quarters, and most companies have very little visibility into forward business. While we do not want to underestimate the impact of the coronavirus outbreak, history shows that events like this tend to offer opportunities for investors that are long-term oriented. Despite the uptick in market volatility, we will continue to invest in businesses we believe have durable competitive advantages and superior growth profiles trading at attractive valuations. We believe a portfolio of these companies will continue to offer attractive risk-adjusted returns over the long haul.

The opinions expressed are those of the Portfolio Manager(s) and are subject to change, are not guaranteed and should not be considered recommendations to buy or sell any security. Earnings growth is not representative of the fund’s future performance.
International Fund News

International Fund

Total Assets $361.63 Million  (3/31/20)
Expense Ratio 1.06% / 0.91%
Benchmark Morningstar Global Markets ex-US

Top 20 Female Portfolio Managers in America 2019

List of the “Top 20 Female Portfolio Managers in the U.S.” according to Citywire includes Buffalo Fund manager Nicole Kornitzer, one of only 7 women to be included in consecutive years.

Recent Recognition
  • Investor’s Business Daily “Best Mutual Funds List” – March 23, 2020
  • Citywire “Top 20 Female Portfolio Managers in the U.S.” – December 20, 2019
  • Kiplinger Top-Performing Mutual Fund (5 Years) – November 15, 2019
  • US News & World Reports – Best Mutual Funds – August 15, 2019
  • Zacks “4 Non-U.S. Mutual Funds to Buy Now” – July 3, 2019
  • Zacks “3 Non-U.S. Mutual Funds Worth Taking a Look” – May 3, 2019
  • Morningstar 5-star Overall Rating – March 31, 2019out of 373 Foreign Large Growth funds*
  • Morningstar 5-star Overall Rating – December 31, 2018out of 364 Foreign Large Growth funds*
  • Zacks “Consider These Non-U.S. Mutual Funds for Excellent Returns” – October 25, 2018
  • Morningstar 5-star Overall Rating – September 30, 2018out of 347 Foreign Large Growth funds*
  • Citywire “Winning Women – Top 20 Female Portfolio Managers in the U.S.” – August 31, 2018
  • Citywire “International Stars to Watch” – August 10, 2018
  • Morningstar 5-star Overall Rating – September 30, 2017out of 325 Foreign Large Growth funds*
  • Zacks “Four #1 Non-U.S. Mutual Funds” – September 22, 2017
  • Citywire “Alpha Female 2017 – The Top Female Fund Managers in 7 Major Markets” – August 8, 2017
  • Zacks “3 Strong Buy Non-U.S. Mutual Funds” – June 7, 2017
  • Citywire Top 20 Female Portfolio Managers in the U.S. – December 7, 2016

*Overall Morningstar Rating derived from a weighted average of the fund’s 3-, 5-, and 10-year risk adjusted return.

Literature

General Account
Forms
Investor
Class
Institutional
Class
Both
  New Account Application
  New Account Application - Entity
  Change or Add Account Details
  Cost Basis Method Election
  Power of Attorney
Individual Retirement Account (IRA) Forms
  RMD Waiver   NEW
  IRA Account Application
  IRA Beneficiary Addition / Change
  IRA Required Minimum Distribution (RMD)
  IRA / Qualified Plan Distribution Request
  IRA Transfer
Coverdell Education Savings Accounts (ESA) Forms
  Coverdell ESA Application
  Coverdell ESA Distribution Request
  Coverdell ESA Transfer
Retirement Information
  Retirement Savings Options for Individuals

Fundamental Approach

We get to know the companies we invest in and learn how they run their business.

Top-Down & Bottom-Up

We identify Top-Down broad, secular growth trends and search for companies from the Bottom-Up.

Proprietary Philosophy

We construct our portfolios based on our own proprietary investment strategy.

Disciplined Investing

Sticking to our disciplined investment strategy ensures we maintain a consistent, balanced approach.

The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product 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. The Overall Morningstar Rating™ for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating™ metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

The Buffalo International Fund (BUFIX) received 4 stars among 420 for the 3-year, 4 stars among 348 for the 5-year, and 4 stars among 249 Foreign Large Growth funds for the 10-year period ending 4/30/20.

In each Morningstar Category, the 10% of funds with the lowest measured risk are described as Low Risk, the next 22.5% Below Average, the middle 35% Average, the next 22.5% Above Average, and the top 10% High. Morningstar Risk is measured for up to three time periods (three, five, and 10 years). These separate measures are then weighted and averaged to produce an overall measure for the fund. Funds with less than three years of performance history are not rated. ©2020 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. The Morningstar Style Box™ reveals a fund’s investment strategy by showing its investment style and market capitalization based on the fund’s portfolio holdings.

Buffalo Funds named to IBD Best Mutual Funds 2020

Buffalo Funds named to IBD Best Mutual Funds 2020

Media Coverage

Buffalo Funds named to IBD Best Mutual Funds 2020

Overview

The Buffalo International Fund (BUFIX) and the Buffalo High Yield Fund (BUFHX) are included on the Investor’s Business Daily 2020 Best Mutual Funds Award Winner list, in the 5th annual ranking by the investment publication, announced this week.

The International Fund was included in the Best International Stock Funds, and the High Yield Fund was included in the Best U.S. Taxable Bond Funds.

Funds named to IBD’s list were chosen because they have outperformed their benchmark index over the past 1, 3, 5, and 10-year periods, as of 12/31/19. In order to make the list, funds must have outperformed in all four time periods. IBD made its selections from 3,374 mutual funds that met the criteria of having at least 10 years of operation.

We’re honored that our funds have been recognized in this way by IBD. These funds exemplify our firm’s goal of consistently delivering strong risk-adjusted performance to our shareholders, said Clay Brethour, president of the Buffalo Funds.

The Buffalo International Fund is managed by Bill Kornitzer and Nicole Kornitzer, a team that has been in place since 2009.

The Buffalo High Yield Fund is managed by Bob Male, Jamie Cuellar, and Alex Hancock.

To view IBD’s complete list and analysis of the Best Mutual Funds 2020, please visit: https://www.investors.com/etfs-and-funds/mutual-funds/best-mutual-funds-beating-sp-500-over-last-1-3-5-10-years/

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed may be worth more or less than their original value. Current performance may be lower or higher than the performance quoted. Performance data current to the most recent month-end may be obtained here. Performance data current to the most recent quarter-end may be obtained here. Performance is annualized for periods greater than 1 year.

Opinions expressed are those of the author or Funds and are subject to change, are not intended to be a forecast of future events, a guarantee of future results, nor investment advice.

References to other mutual funds should not to be considered an offer to buy or sell these securities.

HIGHLIGHT

BUFIX and BUFHX named to Investor’s Business Daily Best Mutual Funds 2020 list in the International Stock Fund and U.S. Taxable Bond Funds categories, respectively.

MEDIA CONTACT

Joel Crampton
Director of Marketing
(913) 647-9881
Email

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Terms of Use – Email lists are created for use by U.S. investment professionals only and are published strictly for informational purposes. Providing access to the content of these emails does not explicitly or implicitly constitute a solicitation of services or products of the Buffalo Funds, Kornitzer Capital Management, or any of their affiliates. The information contained in the emails is not intended for distribution to, or for use by, investment professionals in a jurisdiction where distribution or purchase is not authorized. The information contained in these emails is not appropriate for use by individual investors. By registering for any of these emails, you agree to Buffalo's terms and conditions and that you are qualified as an institutional investor or otherwise member of a registered broker/dealer, registered investment advisor, or investment consulting firm.

FOR INDIVIDUAL INVESTORS

“Money Life Market Call” with Buffalo International Fund PM Bill Kornitzer

“Money Life Market Call” with Buffalo International Fund PM Bill Kornitzer

Media Coverage

“Money Life Market Call” with Buffalo International Fund PM Bill Kornitzer

Overview
Buffalo Funds International co-portfolio manager Bill Kornitzer, CFA, recently appeared on the “Money Life with Chuck Jaffe” podcast. During the call, Bill goes in-depth on investing internationally and provides his viewpoints on the current U.S. trade wars, Brexit, and global markets. During the podcast, Bill answers the following questions:
  • What methodology do you follow?
  • Where does price factor into your fundamental analysis?
  • What companies are good presentations of your strategy in action?

We’re really focused on achieving favorable returns for our shareholders relative to the risk that we take. Our core belief is very simple. We believe that over time stock prices and valuations will follow a company’s fundamentals. So we’re looking for companies that can grow through the economic cycle.
~ Bill Kornitzer, CFA, Co-Portfolio Manager, Buffalo International Fund

MORE ABOUT BILL


Bill Kornitzer, CFA
Portfolio Manager
28 Years of Experience
 View full bio

Opinions expressed are those of the author or Funds as of 2/21/20 and are subject to change, are not intended to be a forecast of future events, a guarantee of future results, nor investment advice. References to other mutual funds should not to be considered an offer to buy or sell these securities. A full listing of the Buffalo International Fund portfolio holdings can be found here. Past performance does not guarantee future results. Earnings growth is not representative of the Fund’s future performance.

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Terms of Use – Email lists are created for use by U.S. investment professionals only and are published strictly for informational purposes. Providing access to the content of these emails does not explicitly or implicitly constitute a solicitation of services or products of the Buffalo Funds, Kornitzer Capital Management, or any of their affiliates. The information contained in the emails is not intended for distribution to, or for use by, investment professionals in a jurisdiction where distribution or purchase is not authorized. The information contained in these emails is not appropriate for use by individual investors. By registering for any of these emails, you agree to Buffalo's terms and conditions and that you are qualified as an institutional investor or otherwise member of a registered broker/dealer, registered investment advisor, or investment consulting firm.

FOR INDIVIDUAL INVESTORS

Top 20 Female Portfolio Managers in America 2019

Top 20 Female Portfolio Managers in America 2019

Media Coverage

Top 20 Female Portfolio Managers in America 2019

The Buffalo Funds is pleased to announce Nicole Kornitzer, CFA, was included in Citywire’s annual list of the top 20 female portfolio managers in the United States.

CityWire recently completed an analysis of 16,000 portfolio managers around the world and created a ranking of the top 20 female portfolio managers in the United States. Managers on the list are ranked by risk-adjusted returns of their fund portfolio over the past three years. To make the cut, they must also have top-quartile absolute returns in their particular investment disciplines over that period.

Nicole Kornitzer was included in the list for the second consecutive time – one of only seven women to accomplish the feat. “The fact there are seven of the same names in the 2019 and 2018 lists undoubtedly speaks to these investors’ skills and consistency, but it also reflects the fact that the strategies that worked three years ago – for example, long risk, growth equities and corporate bonds – are still working today,” said Frank Talbot, Head of Investment Research at Citywire.

Nicole, who was ranked #15, has co-managed the Buffalo International Fund since 2009. She also appeared in the Top 20 ranking in 2016.

“We believe Nicole’s inclusion on the Citywire top manager list is a strong testament to the quality of fund managers we have on staff, and we are proud of Nicole’s accomplishments,“ said Clay Brethour, CFA, Buffalo Funds President.

The Buffalo International Fund management team of Nicole Kornitzer and Bill Kornitzer, CFA, (manager since Fund’s inception) consistently apply the Buffalo Funds’ top-down, trend-based analysis, searching for companies that appear poised to benefit from long-term secular growth trends. Thorough country analysis, with an overlay of macro and financial country-specific data, and rigorous bottom-up stock selection help determine investment allocations. Ultimately, stocks are selected based on deep, fundamental research and strict valuation guidelines.

*An explanation of ‘manager ratio’ and how manager ratings are assigned can be found here.

International Fund

International Fund

Total Assets $361.63 Million  (3/31/20)
Expense Ratio 1.06% / 0.91%
Benchmark Morningstar Global Markets ex-US

Nicole Kornitzer, CFA
Portfolio Manager

19 Years of Experience

 View full bio

MEDIA CONTACT

Joel Crampton
Director of Marketing
(913) 647-9881
Email

Sign Up for Automatic Updates

Stay up-to-date with the most recent media coverage and press releases about the Buffalo Funds.

FOR FINANCIAL PROFESSIONALS

Terms of Use – Email lists are created for use by U.S. investment professionals only and are published strictly for informational purposes. Providing access to the content of these emails does not explicitly or implicitly constitute a solicitation of services or products of the Buffalo Funds, Kornitzer Capital Management, or any of their affiliates. The information contained in the emails is not intended for distribution to, or for use by, investment professionals in a jurisdiction where distribution or purchase is not authorized. The information contained in these emails is not appropriate for use by individual investors. By registering for any of these emails, you agree to Buffalo's terms and conditions and that you are qualified as an institutional investor or otherwise member of a registered broker/dealer, registered investment advisor, or investment consulting firm.

FOR INDIVIDUAL INVESTORS

Kiplinger: Top-Performing Mutual Funds

Media Coverage

Kiplinger: Top-Performing Mutual Funds

Overview

Kiplinger recognized the Buffalo Small Cap and the Buffalo International Funds as “Top-Performing Mutual Funds” in their recent fund analysis for the period ending October 31, 2019.

The Buffalo Small Cap Fund (BUFSX) ranked #3 in the Small-Company Stock Funds category for 20-year annualized returns, and the Buffalo International Fund (NASDAQ: BUFIX) ranked #10 in the International Diversified Large-Company Funds category for 5-year annualized returns.

Management Teams:

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the funds may be lower of higher than the performance quoted. Quarter-end performance can be obtained here and month-end performance can be obtained here.
Small Cap Fund

Small Cap Fund

Total Assets $439.76 Million  (3/31/20)
Expense Ratio 1.01% / 0.86%
Benchmark Morningstar U.S. Small Growth

International Fund

International Fund

Total Assets $361.63 Million  (3/31/20)
Expense Ratio 1.06% / 0.91%
Benchmark Morningstar Global Markets ex-US

Sign Up for Automatic Updates

Stay up-to-date with the most recent media coverage and press releases about the Buffalo Funds.

FOR FINANCIAL PROFESSIONALS

Terms of Use – Email lists are created for use by U.S. investment professionals only and are published strictly for informational purposes. Providing access to the content of these emails does not explicitly or implicitly constitute a solicitation of services or products of the Buffalo Funds, Kornitzer Capital Management, or any of their affiliates. The information contained in the emails is not intended for distribution to, or for use by, investment professionals in a jurisdiction where distribution or purchase is not authorized. The information contained in these emails is not appropriate for use by individual investors. By registering for any of these emails, you agree to Buffalo's terms and conditions and that you are qualified as an institutional investor or otherwise member of a registered broker/dealer, registered investment advisor, or investment consulting firm.

FOR INDIVIDUAL INVESTORS

“Money Life Market Call” with Buffalo International Fund PM Bill Kornitzer

“Big Interview” with Buffalo International Fund PM Bill Kornitzer

Media Coverage

“Big Interview” with Buffalo International Fund PM Bill Kornitzer

Overview
Buffalo Funds International co-portfolio manager Bill Kornitzer, CFA, recently appeared on the “Money Life with Chuck Jaffe” podcast. During the call, Bill goes in-depth on investing internationally and provides his viewpoints on the current U.S. trade wars, Brexit, and global markets. During the podcast, Bill answers the following questions:
  • If we’re in a “holding” pattern domestically, are we also in a holding pattern internationally?
  • How do you believe the trade wars will be resolved (specifically regarding China)?
  • What impact will Brexit have on investing in European companies?
  • How do low or negative interest rates affect the global bond markets?
  • Is there a specific part of the world investors should look to invest in or avoid?

The U.S. leads the world economy – so goes the U.S., so goes the rest of the globe. Just as the large U.S. companies have extensive exposure to the various international markets, the large multinational firms based in Europe, Japan and Asia have the same kind of exposure to the U.S. Everyone gets affected the same.
~ Bill Kornitzer, CFA, Co-Portfolio Manager, Buffalo International Fund

MORE ABOUT BILL


Bill Kornitzer, CFA
Portfolio Manager
27 Years of Experience
 View full bio

Opinions expressed are those of the author or Funds as of 9/27/19 and are subject to change, are not intended to be a forecast of future events, a guarantee of future results, nor investment advice. References to other mutual funds should not to be considered an offer to buy or sell these securities. “Dry powder” refers to cash reserves kept on hand by a company (or mutual fund) to cover future obligations, purchase assets, or make acquisitions. Past performance does not guarantee future results. Earnings growth is not representative of the Fund’s future performance.

Sign Up for Automatic Updates

Stay up-to-date with the most recent media coverage and press releases about the Buffalo Funds.

FOR FINANCIAL PROFESSIONALS

Terms of Use – Email lists are created for use by U.S. investment professionals only and are published strictly for informational purposes. Providing access to the content of these emails does not explicitly or implicitly constitute a solicitation of services or products of the Buffalo Funds, Kornitzer Capital Management, or any of their affiliates. The information contained in the emails is not intended for distribution to, or for use by, investment professionals in a jurisdiction where distribution or purchase is not authorized. The information contained in these emails is not appropriate for use by individual investors. By registering for any of these emails, you agree to Buffalo's terms and conditions and that you are qualified as an institutional investor or otherwise member of a registered broker/dealer, registered investment advisor, or investment consulting firm.

FOR INDIVIDUAL INVESTORS