Do MNCs provide international portfolio diversification benefits? If so, do they provide the same diversification benefits as

Question:

Do MNCs provide international diversification benefits? If so, do they provide the same diversification benefits as direct ownership of companies located in the countries in which the MNC does business?
Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...