Invesco announced in late May that Invesco European Small Company's lead manager, Jason Holzer, will retire as of Sept. 30, 2021. Although the other manager, Borge Endresen, will remain in place, Holzer's impending departure prompts a downgrade of this strategy's People rating to Above Average from High. As a result, the Morningstar Analyst Ratings for most share classes have been downgraded to Bronze from Silver, while the costly C shares fall to Neutral from Bronze.
Will ESMAX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable ESMAX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the ESMAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of ESMAX’s parent organization’s priorities and whether they’re in line with investors’ interests.