The Oppenheimer Developing Markets Fund returned 14.8 percent for the first quarter, running slightly ahead of the 14 percent return generated by its benchmark, the MSCI Emerging Markets Index. Developing markets rebounded strongly during the quarter, regaining 75 percent of the value the index lost during a challenging 2011.
In his letter to shareholders, fund manager Justin Leverenz noted that emerging markets outpaced their developed market peers and continue to deliver higher economic growth rates. This bodes well for the fund and its investors as the U.S. continues its slow recovery and Japan and Europe face difficulties with demographics and debt.
To read his full letter, click here.
Oppenheimer Developing Markets is a component of the Bradway Strategic Portfolio, which consists primarily of investments with top money managers.
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