Sberbank (MIC:SBERP, Financial) was the fund’s leading individual contributor for the quarter. The Russia-based bank has continued to perform well. At its December analyst day, management forecast another year of double-digit return on equity (ROE). The company’s valuation and nearly double-digit dividend yield also remain attractive.
From Invesco European Growth Fund (Trades, Portfolio)'s fourth-quarter 2019 commentary.
