Political Risk Latin America Blog @PolRiskLatam

BlackRock bucks the trend in Brazil

Posted in News and Articles, Political Risk by politicalrisklatam on February 17, 2011

by Jonathan Wheatley for Financial Times – Beyond Brics, February 17th, 2011.

Brazil, it seems, can’t do anything right. The government’s walkover victory in a crucial vote to restrain the national minimum wage on Wednesday night was one more demonstration of a commitment to fiscal austerity that investors just can’t bring themselves to trust. Figures out on Thursday from EPFR Global, which monitors fund flows, showed a rising preference for Brazilian bonds over equities as investors worry that slower growth will hurt corporate earnings.

But one of the biggest investors in Latin American equities disagrees. Will Landers, managing director for Latin America at BlackRock, which has $10.2bn under management in the region, is overweight Brazil and has been building positions as others pull out. (continue reading… )

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: