Axa IM launches Latin America fund

Latin_AmericaAxa Investment Managers is hoping to benefit from continued economic growth in Latin America with a newly launched equity fund that will seek to buy undervalued companies on the continent. The AXA WF Framlington LatAm Fund is a Luxembourg-based Sicav with retail and institutional share classes. Julian Thompson, lead fund manager, said there were many opportunities in Latin America due to growth of domestic consumption and development of infrastructure, adding that the region's capital markets were deepening. He also said Latin America offers “a sound operating environment in terms of regulation, corporate governance and economic management”. However, Thompson and the rest of the team will be aware of the risk of more state intervention following the decision of Argentina's government to nationalise the Spanish-owned part of oil company YPF. ©2012 funds europe

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