Barings overhauls Latin America fund

Barings is overhauling its Latin America fund, reducing the number of holdings to focus on long-term positions.

The firm aims to concentrate the $676m (£433m) portfolio down from 64 holdings at the end of last year to about 45 positions. The construction of the portfolio will also be weighted in favour of core holdings, which will make up 70%-80% with the other 20%-30% in more tactical positions. Manager Mike Simpson, who joined the group in October of last year, said: "At the country level, we are bullish on Brazil and Chile and are warming up to Colombia. "We continue to maintain the majority of our holdings in Brazilian stocks, which we have seen provide a strong rebound after market fall...