Oppenheimer Developing Markets
Of the funds over $10 billion, Oppenheimer Developing Markets (MUTF:ODMAX) had the best average annual return at 15.5%. Since May 2007, it has been managed by Justin Leverenz, Oppenheimer’s Director of Emerging Market Equities.
Morningstar gives ODMAX a five-star rating for the three-year, five-year and 10-year periods ended Dec. 31, 2012. Among 358 diversified emerging market funds, it stands the tallest.
ODMAX’s three biggest contributors in the fourth quarter were all retail businesses. Retail might be ho-hum in North America at the moment, but it has been rocking in emerging markets.