Uncertainty hurts Brazil

Professional Adviser
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Fund managers have been positioning their portfolios towards Mexico, Peru and Chile but remain caut...

Fund managers have been positioning their portfolios towards Mexico, Peru and Chile but remain cautious towards Brazil in the run up to the country's elections in October. Michael Konstantinov, head of emerging markets at Dresdner, said Mexico's proximity to the US means it will benefit from a US recovery. The DBLA Dresdner RCM Conquistador fund is overweight Mexico and has recently been upgraded by ratings agency Moody's. Konstantinov said he has seen compelling stories on the retail side as valuations have come down, as well as good performance on the financial side. Grupo Financie...

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