In his latest review of the holdings in his Fidelity Investor model portfolio, fund expert Jim Lowell highlights a diverse trio of global favorites.

Global High Income (US:FGHNX)

Fund manager John Carlson and I go way back to when he taught me my first emerging market investment lesson: if you don’t want to own the debt, you won’t want to own the stocks. That lesson can be applied globally.

And today, while I’m not sanguine about emerging markets’ near term prospects, I remain "Carlson Confident." He leads a group of managers that invest in stocks, bonds, and convertible securities from around the globe; here, the emphasis is on kinds of debt needed to finance growth.

The current tilt toward the established marketplace of the US, and the scant tidbit in emerging China, reflects his sense of where to find reward and avoid risks.

It began trading in May 2011 and has a market value of approximately $330 million. The top five country representations are the US (56.6%), Netherlands (4.8%), China (3.4%), UK (3.1%), and Italy (2.9%).

Nordic (US:FNORX)

Not to be underestimated nor overlooked, manager Per Johansson invests in companies from Denmark, Finland, Norway, and Sweden, as well as companies tied to the Nordic region economically.

Better banking systems, highly educated work forces, and little brain drain translates into a robust marketplace inside Europe’s overall mall. It began trading in November 1995 and has a market value of $525 million.

The top five country representations are Sweden (46.9%), Finland (22.9%), Denmark (14%), the US (7.5%), and the UK (4.9%). The top three sectors are industrials (23.7%), financials (22.4%), and consumer discretionary (14.9%).

International Growth (US:FIGFX)

You know, I began to wade back across the pond to the established markets of Europe last year and increased our stake there this year.

While it is true that Europe is really only on the cusp of recovering, it is also true that their economy overall has been expanding since mid-year 2013 and seems to be picking up the pace by a hair’s breadth. I would expect fits and starts along the path to more recovery.

I also wouldn’t be surprised to get a round of slowdown reports that create potential potholes; but I like knowing we have manager Jed Weiss at the wheel. He invests in companies from around the world that he thinks have an above average potential for growth with reasonable valuations at the outset.

It began trading in November 2007 and has a market value of approximately $470 million. The top five country representations are the US (17.4%), Japan (16.3%), UK (15.3%), Switzerland (11.9%), and Sweden (6%).