Latam Equities: Gains from Brazil


Latin America markets stormed ahead in May, and so followed the Absolute Return Latin America Equity Index, netting 3.09% to finish up 8.67% for the year so far. Brazil was a big driver of positive performance, as inflation (in-line with expectations), domestic economic growth and corporate activity all provided a supportive backdrop. The Brazilian real also helped, trading up 6% against the U.S. dollar for the month. Brazil-based Ivestodir Profissional Funds posted stellar performance. The Value Brazil II Class netted 12.46% for May, bringing its YTD to an outstanding 39.87%. Value Brazil Class turned in a 11.35% gain