PDD - Invesco Developing Markets Fund Q4 2024 Commentary
2025-02-11 09:52:00 ET
Summary
- Invesco Developing Markets Fund Class A shares outperformed the MSCI EM Index. Stock selection in the consumer discretionary sector added to relative return.
- The largest detractor from relative return was stock selection and an underweight in financials.
- Emerging market equities declined for the fourth quarter and lagged US and global equities. Emerging market equities outperformed developed market stocks.
- Uncertainty provides opportunity for active, idiosyncratic investors by favoring skill sets that emphasize a deep understanding of businesses.
- We believe emerging market equities are attractive because they are mispriced, with valuation discounts compared to US and global equities.
