The French presidency is based on a semi-presidential system where both a president and a prime minister are active participants in the day-to-day administration of the state. France's president appoints a prime minister, who then forms a government.
The Portfolio Management Rating is the same as our Stock Rating except that we incorporate Asset Allocation in the Portfolio Management Rating. The Total Annual Costs Rating captures the all-in cost of being in a fund over a 3-yr holding period, the average holding period of all mutual fund investors.
As of Dec. 31, 2015, the fund owns nearly three times more Amazon shares than any other mutual fund. Its position is worth about $9.2 billion and represents 6.4% of the fund's total assets. Needless to say, Amazon is the fund's top holding.