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Some investors concentrate on domestic holdings, while others think value is easier to find overseas.
Part of Ms. Smith's job is to find overseas companies to add to that number.
The decision does not automatically let entrepreneurial Americans import any cheap stuff they find overseas for resale at home.
"I stock New England products and hard-to-find ingredients that someone might find overseas," she says.
A comparable spike may be around the corner for New York City, according to Juwai.com, a Web site created to help buyers from China find overseas properties.
The first, Narendra Hirwani, was top dog on the tour, but like Laxman Sivaramakrishnan a few years later he would find overseas pitches less conducive to his art.
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These days they are as likely to be found overseas.
Also, the most successful examples of smaller, efficient cars are found overseas.
Recognising that vital intellectual capital is increasingly found overseas, from eastern Europe to China and India, P&G also uses a network of 140,000 scientists called InnoCentive.
"There's a feeling that authentic Islam is only found overseas, and I think that may be what happened in this case," he said.
The movement's leaders often note that sweatshops are not just found overseas; many remain in New York, Los Angeles and other American cities.
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