Latin America: Argentina lifts returns


Emerging markets, and particularly South America, have provided rich pickings this year, with unofficial data from Absolute Return indicating a median increase of 5.6% since January 1. Rio de Janeiro-based Investidor Profissional, for one, has turned up very impressive gains: The IP Investment Fund - Value Brazil II Class reported a 8.69% rise in February. Cima Investments of Buenos Aires also did well. Its Aconcagua Fund rose 3.09% in February, propelled by bets in Argentina and Venezuela. According to a letter to investors, the fixed-income rally opened up opportunities to buy equities, which had become "extremely undervalued" as