"Wilton, I don't know how a fund could avoid doing a NAV recalculation each day - they would have to honor "day old" prices for people buying / selling? I can't imagine that would pass muster."
I'm not talking about pricing based on the actual closing stock prices in thier home countries. I'm talking about a market adjustment based on events after the foreign markets have closed but before the post 4:00 US NAV calculation. Most large fund groups do adjustments for this. Yesterdays large drop in the US was adjusted in the NAV of most foreign funds but did not seem to reflect in the nav of the fund posted. If you look at the chart I linked you will see that for most large swings in the S&P it seems to lag a day. The recent performance of the fund in general doesn't seem that compelling anyway.