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.
Invesco European Small Company C ESMCX
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will ESMCX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
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.
People Pillar
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.
Parent Pillar
The Parent Pillar is our rating of ESMCX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Manager to Retire at Invesco European Small Company
