#1: In 1973, global investing was a new concept — one seen by many as daring, to say the least. New Perspective Fund was among the pioneers, and it proceeded with great care. Initially, only 1/3 of the fund’s assets could be invested outside the U.S. At the end of New Perspective’s first fiscal year, roughly a quarter of our holdings were based abroad (in Canada, Europe and Japan). The world is a very different place today. Opportunities beyond the borders of the U.S. now account for more than 60% of all the assets invested in the world’s stock markets, compared with about 40% in 1973.