A rare fund in the green this year succeeds by betting on stocks that work even in a recession

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The Invesco Comstock Select fund outperformed this year because of a patient, contrarian approach to stock picking.

As investors brace for more volatility in 2023, one fund beat the market this year by betting on stocks that work even in a recession. The Invesco Comstock Select fund outperformed in 2022 because of a patient, contrarian approach to stock picking, which is largely derived from exploiting a longer time horizon compared to most funds, according to the portfolio managers.

"We think it's going to open at some point, and when it does, the pieces will play out." Stock picker's market Meanwhile, the portfolio managers say they've made some strong stock picks in communication services and information technology, areas of the market that took a beating in 2022. Holt and Armstrong said they sidestepped overvalued names and looked to salvage some attractive opportunities amid the two sectors' wreckage.

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