Latin America funds underperform

Around 90% of Latin America fund managers have underperformed the main regional benchmark on a five-year view A survey by S&P Fund Research found that a similar percentage had underperformed in the 12 months to 1 May 1999 According to the latest report by S&P Fund Research, markets were volatile during the period with the MSCI Latin America Index falling by more than a third in the wake of the Russian debt crisis The Brazilian real was also devalued by 40% in January Equity markets proved resilient to this setback. The IFCI Brazil ended the first quarter of 1999 up 5.5% in dollar terms ...