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Article: Brazil helps Latin American funds surge; Volatility issue aside, some see potential for continued growth.(News)
- Article from:
- Investment News
- Article date:
- October 18, 2004
CopyrightCOPYRIGHT 2004 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: David Hoffman
NEW YORK - Mutual funds that invest in Latin American stocks continue to post the best returns in the international-stock-fund category.
Year-to-date though last Tuesday, Latin American funds were up 19.05%, placing them first in the international category, according to fund tracker Morningstar Inc. in Chicago.
That is something of a surprise, considering that much of the outperformance is coming from Brazil.
After Luiz Inacio "Lula'' da Silva was elected Brazil's president in January 2003, many investors feared the worst, said Stephen McCarthy, a regional portfolio manager with State Street Global Advisors Inc. ...