First State's Asante finds ideas amid risky markets

RADAR ALERT

Asante and Mathieson say Brazil is ‘over-cooked' while Chile looks attractively valued

Latin American funds have outperformed over the past year, driven by low valuations and growth opportunities in the region, with the 10 Latin American funds within the IMA Specialist sector up 58.5% over 12 months to 21 June. Launched in April 2009, First State’s Latin America fund is up 55% over the same period, compared to an IMA Specialist sector average of 31.8%, according to Morningstar. Managers Jonathan Asante and Millar Mathieson are part of an Asia Pacific emerging markets team based in Edinburgh, Hong Kong and Singapore.  Asante says the Latin American fund is run in the ...