As slowing global growth weighed on markets around the world Friday, two portfolio managers saw opportunities abroad in spite of those concerns.
For Ben Kirby, manager of the five-star Morningstar rated Thornburg Developing World Fund, China looks extremely cheap on a valuation basis. It is concerns about that country's economic growth that has helped fuel the global selloff. The Chinese stock market has also been in a downward spiral from its record highs despite the government's attempts at stimulus.
"Although we see a lot of the global risks emanating from China, we're seeing a lot of the really good companies in China actually trade at interesting valuations and discounts to what we think they're worth," Kirby said in an interview with CNBC's "Power Lunch."