Shareholders in the F&C Latin American Investment Trust have approved a continuation motion. HSBC in...
Shareholders in the F&C Latin American Investment Trust have approved a continuation motion. HSBC investment trust analysts said the vote is important as it means the continuation of an important trust in a declining sector. The move should be welcomed following the removal of more than half the Latin American sector's liquidity since 1999, with key markets such as Brazil and Mexico continuing to represent key plays for investors at both the emerging market and global levels, the group said. Only three trusts in the Latin American equities sector remain and, at around £108m in size, the F&C Latin America trust dwarves the Aberdeen Latin America Trust at around £15m and the Deutsche Latin America trust at £53m. The Deutsche fund is currently transferring management to Tara Kenney, previously manager of the Scudder Latin American Investment Trust, following Deutsche's purchase of Scudder.
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