The new hot pick?

The new hot pick?

Funds

When New York’s stock market opened on June 24 virtually no-one expected the day’s shock news to be a boon for Latin American investment. Traders dumped assets, sold the pound, piled into US Treasuries. Ecuador postponed a bond sale. Mexico slashed 32 billion pesos from its 2016 spending plan. But then the world’s central banks leapt into action, promising cheap money for longer in a bid to stabilize markets. Investors reacted in the same way they have since quantitative easing was first tested in 2009: they turned to emerging markets in search of yield. The European Union, and indeed the world, is set for a long period of uncertainty after the United Kingdom voted to leave the trading bloc

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