Deep Dive: Five-star fund managers find ‘idiosyncratic’ companies to beat international benchmark

The AMG Managers Pictet International Fund typically doesn’t follow its rivals into high-flying stocks, opting instead for deep research to uncover what often turn out to be “idiosyncratic” companies, said Ben Beneche, the fund’s co-portfolio manager.

Coverage of investing outside the U.S. usually is focused on emerging markets, especially China, as Alibaba BABA, -3.66% Tencent TCEHY, -3.93% and Baidu BIDU, -4.69% enjoy rapid growth as the government supports their virtual monopolies.

But you won’t find those names among the top holdings of the AMG Managers Pictet International Fund APINX, -2.59% Beneche and co-managers Fabio Paolini and Swee-Kheng Lee favor companies including British medical-device maker LivaNova PLC LIVN, -2.27% Switzerland-based food company Nestle SA NESN, -1.96% and Japan Tobacco Inc.

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