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Defaqto on Martin Currie Latin America Fund

View of Defaqto insight analyst for funds Fraser Donaldson

Donaldson says: “Martin Currie has put forward a compelling case for investing in Latin America, citing a rising GDP and an economic growth rate of around 6 per cent. It sees the key drivers in this region as global growth, in particular emerging economies; commodity prices; accumulation of reserves; sound economic policy and a robust regulatory environment. Broadly, it sees valuations as attractive.

“There is no doubt that emerging markets have been the place to be over the last few years. It is often argued that despite the perceived risks of investing in these regions, the fundamentals are, on the face of it, currently superior than those of the developed economies. Despite all these positives, advisers and investors must be aware of the political, economic and social risks of investing in any emerging market.

“For those advisers that are knowledgeable about individual emerging market regions or have clients who want to invest specifically in Latin America and understand the risks, it is a fund that is worth considering.

“The fund manager, Jeff Casson, joined Martin Currie earlier this year from Swip. At SWIP he was lead manager of the Latin American Oeic for nearly five years and that fund had a decent performance record.

“For those that do not have sufficient knowledge of individual emerging markets and regions, there are plenty of generalist emerging market funds where the fund managers, with all their resources, can decide which specific emerging markets to invest in.”

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