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Cheap World Stock Prices Has Invesco Buying: Manager

Stocks are cheap around the world, with European stocks looking particularly attractive, Clas Olsson told CNBC Monday.

The senior portfolio manager of the four-star Invesco International Growth fund said he has been buying international stocks since the sell-off started. The fund's allocation was 9 percent in cash, and he said the less-expensive stock prices "provided us a chance to put the cash back to work."

The focus is "more on finding great companies, and when they sell at great prices that’s when we try to jump on it and add to our portfolio," Olsson said.

Most recently the fund added to holdings in Nestle, Yamada Denki

and Anheuser-Busch Inbev .

While the Anheuser part of the company may be more familiar to America beer drinkers, "half of the company's earnings come from emerging markets, particularly Brazil," Olsson pointed out. Trading at 13 times earnings, the stock is "attractive in our mind," he said.

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CNBC Data Pages:

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Disclosures:

Disclosure information was not available for Claus Olsson or his company.

Disclaimer

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