FYI: A firestorm is engulfing emerging market stocks but Justin Leverenz, manager of the world's second-largest EM fund, is not alarmed.
Instead, Leverenz — who manages the $38.2 billion-asset Oppenheimer Developing Markets fund — is calmly plotting what his next stock purchase will be.
"When the world is looking at the headlines, we look at the companies we own or want to invest in and try to understand them better," Leverenz in a phone interview. "So when there is trouble in the world, we tend to do well because we can find good companies" at a more reasonable price.
Over the past 10 years, the fund has been one of the best performers in its category, according to Morningstar, which rates it four stars. Leverenz says his approach will guide him through the latest volatility.
It could be a bumpy ride. Stocks in emerging markets have been reeling this year. After rising more than 30 percent in 2017, the iShares MSCI Emerging Markets exchange-traded fund (EEM) is down more than 8 percent in 2018 as investors face several challenges.
Regards,
Ted
https://www.cnbc.com/2018/08/27/manager-emerging-markets-fund-says-sell-off-could-be-an-opportunity.html?__source=yahoo|finance|headline|story|&par=yahoo&yptr=yahooM* Snapshot ODMAX:
https://www.morningstar.com/funds/XNAS/ODMAX/quote.htmlLipper Snapshot ODMAX:
https://www.marketwatch.com/investing/fund/odmaxODMAX Ranks #10 In The (DEM) Fund Category By U.S. News & World Report:
https://money.usnews.com/funds/mutual-funds/diversified-emerging-mkts/oppenheimer-developing-markets-fund/odmax
