Investing outside the U.S. can be complicated, because of currency fluctuations, political and regulatory issues, language barriers, time differences, and complicated taxation issues. If you'd rather not struggle with these potential problems yourself, you may find that internationally invested mutual funds are more attractive than individual investments abroad.
When you invest in a fund, you share the benefits of diversification and professional management. Mutual funds can give you access to markets and shares that are closed to small individual investors or non-citizens. Also, experienced fund managers may be able to find bargains more easily in emerging markets, because a smaller, less active pool of investors may not price a stock as accurately as a larger, more active market would.
Mutual funds — such as broadly invested international and global funds — are generally highly liquid,
so you can sell your shares back to the fund at any time though you may have a loss if the value of the fund has dropped.
The fund takes care of currency conversions for you. Even better, at tax time, a U.S.-based mutual fund will help you sort out what you owe the IRS — and what you may be able to claim in foreign tax credit — by mailing you a 1099 form.
Jeffrey Rosensweig, Goizueta Business School, Emory University
Jeffrey Rosensweig, Goizueta Business School, Emory University 
