NEW YORK (AP) — China’s stumbling stock market has spooked many investors, but Justin Leverenz isn’t one of them. He runs Oppenheimer’s Developing Markets fund, the largest actively managed mutual fund specializing in emerging-market stocks, and he still sees big opportunities for stocks from China and developing economies in general.

Investors overall have grown more skeptical of these formerly fast-growing economies: Growth for emerging markets dropped by nearly half between 2007 and last year, and investors pulled out a net $1.3 billion from Chinese stock funds over the last 12 months, according to Morningstar.