Devan Kaloo will take charge of a new Aberdeen Asset Management fund that focusing on Latin American equities.
At the end of this week the asset manager will unveil a UK-domiciled version of Aberdeen’s Global Latin America fund, which is domiciled in Luxembourg.
Over three years it has narrowly under performed its benchmark, generating 4.28% versus 4.42% by its benchmark. But Aberdeen believes that the investment case for Latin America remains a compelling one, given the improved fundamentals and prospects for growth in the region.
‘These uncertain times highlight the need to focus on companies with strong balance sheets, sound businesses and proven management,’ Aberdeen’s head of global emerging markets Kaloo (pictured) said.
'In this regard, the outlook for Latin America is compelling. Given that the region benefits from improved economic fundamentals, vast natural resources, a significant pool of consumers with favourable demographics, and financially strong companies, [it] should not be overlooked in a well-diversified global portfolio.'
Aberdeen's emerging market team will use its bottom-up approach to pick equities exposed to Latin America. 'we aim to identify those Latin American companies that meet our strict quality criteria, are attractively valued and offer the prospect for long-term share price and dividend growth,’ Kaloo said.
Source: Citywire
www.citywire.co.uk
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