Opportunities Abroad

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For the Month Ending May 31, 2017 Performance Overview The U.S.-oriented Morningstar® Wide Moat Focus IndexSM (MWMFTR, or “U.S. Moat Index”) lagged the S&P 500® Index in May (0.51% vs. 1.41%). Despite this underperformance, the U.S. Moat Index remains ahead of the S&P 500...

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