First State Investments has announced that it is set to launch a Latin America Fund to add to its specialist product range which will be targeted at UK and European wholesale and institutional investors.
The company said that the fund will employ the same bottom-up stock-picking approach, with its focus on quality companies that underpins First State’s Asia-Pacific and global emerging markets range of funds.
The First State Latin America Fund will be managed by Jonathan Asante and Millar Mathieson. Alan Nesbit will act as deputy fund manager.
The fund will mirror the investment style of First State’s existing emerging markets funds by focusing on a select list of companies with strong growth potential that are likely to have a consumer-related bias, First State added. Ultimately the fund will target investment opportunities in such countries as Brazil, Chile, Colombia, Mexico and Peru. The geographical spread of the fund may extend to other neighbouring regions should the fund managers see value in these areas.
Mr. Asante said: The launch of First State’s Latin America Fund will enable us to take advantage of more attractive valuations in the region and ensure investors are in a strong position to capitalise on future growth. Looking ahead, Latin America over the mid- to long-term is an exciting investment proposition.
