As many fund managers move to dampen investor optimism for 2008, BlackRock's Will Landers remains confident his $550m ML Latin American investment trust can deliver returns in excess of 20% this year.
Since assuming control of the closed-end fund in March 2006, Landers and BlackRock’s Latin American team have returned 80.7%, to 31 December 2007. Landers remains bullish on the opportunities in Latin America, especially Brazil, where 70% of the portfolio is positioned – 5% over the benchmark. “In earnings growth, it is reasonable to expect another double digit result for Brazil this year. You can’t say that for many markets right now,” he says. “Brazil is by far the most exciting story in Latin America, with GDP growth at 5% and an investment grade rating expected in Q4 (2008). “T...
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