Net Net: Promoting innovation and managing change
Net Net: Promoting innovation and managing change

Pro: China 'most durable growth story in the world'

A Prada store in Beijing.
Getty Images

Forget the critics: China is still the best investment opportunity globally, according to a prominent developing markets mutual fund manager.

"The most interesting opportunities at the moment ... are really in and around this idea that there's a lot of misnomers associated with China's ultimate demise," said Justin Leverenz, portfolio manager of the $41 billion Oppenheimer Developing Markets Fund. "China is the most durable growth story in the world ... there's nothing in the world like it."

Leverenz, speaking Thursday at the Morningstar Investment Conference in Chicago, cited international luxury companies like Prada and spirits companies like Pernod Ricard that had been hurt by worries over slower Chinese growth.