In late May 2021, Invesco announced that veteran portfolio manager Jason Holzer will retire on Sept. 30, 2021. Holzer, who focuses on small- and mid-cap stocks, is a listed manager on Invesco European Small Company ESMAX--where he is lead manager--as well as two strategies where he is co-lead manager, Invesco International Small Company IEGAX and Invesco European Growth AEDAX. Borge Endresen, another experienced manager who, like Holzer, focuses on small and midsize companies in Europe and Canada, will step into his roles. The Morningstar Analyst Rating of Invesco European Small Company is Under Review, while Invesco International Small Company and Invesco European Growth retain their People ratings and the various Morningstar Analyst Ratings assigned to their different share classes.
Will ESMCX 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 ESMCX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the ESMCX 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 ESMCX’s parent organization’s priorities and whether they’re in line with investors’ interests.