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June 30, 2014

Mutual fund manager is not afraid of China

  • The head of Oppenheimer's Developing Markets funds says he still sees big opportunities in developing economies in general — and especially in Chinese media.
    • By STAN CHOE
    AP Business Writer

    NEW YORK — China's stumbling stock market has spooked many investors, but Justin Leverenz isn't one of them. He runs Oppenheimer's Developing Markets fund, the largest actively managed mutual fund specializing in emerging-market stocks, and he still sees big opportunities for stocks from China and developing economies in general.

    Investors overall have grown more skeptical of these formerly fast-growing economies: Growth for emerging markets dropped by nearly half between 2007 and last year, and investors pulled out a net $1.3 billion from Chinese stock funds over the last 12 months, according to Morningstar.


     
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