Investor Report Brazil: A foreign exchange

Investor Report Brazil: A foreign exchange

Brazil Mexico Funds

By John Rumsey Mexico’s stock market has been the darling of investors this year. By early August its main index, the IPC, had climbed over 10% since January. In contrast, Brazil’s Bovespa had returned just 3.4% over the same period. For much of the past year, Latin American investment funds have cut allocations to Brazil, and their average allocation to the country has dipped below 60% for the first time since the start of the crisis, according to Cameron Brandt, director of research at fund flow company EPFR Global. But a number of influential fund managers are now turning bullish on Brazil, arguing that its markets offer good value amid what some now believe are improving growth p

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