Blackrock Fund Boosts Investments in Brazil

Will Landers , BlackRock’s Latin American fund manager is boosting Brazil weighting (and reducing his Mexico exposure slightly). He was quoted: "in Brazil the combination of the domestic growth story, with the Brazilian middle class’s purchasing power continuing to rise, and interest rates as low as they’ve ever been is compelling.”

As for Mexico, the issue is that it is more exposed to the 'troubled' US economy.“The challenges with Mexico are still there,” “The growth of the US economy is still likely to be slower than hoped".

Blackrock's assets dropped by 10.7% on its assets in January as it suffered from issues such as the Greek crisis.

Shares of the BlackRock Latin American Investment Trust have risen by 366% over the past five years on the back of stellar growth in the region.

We track all latin-american stocks (ADRs) live here.

Landers said Brazil was seeing earnings growth over 30%, with loan growth and mortgage growth continuing to pick up. “We have added a little bit to Petrobras on weakness,” he says. “I think a lot of the fears around it were overdone.” He has taken money out of the steel sector and pumped it into Brazil's Vale.

Says the Financial Times: "The move is paying off and on Monday last week the shares rose as it secured a 90 per cent rise in the price of the iron ore it sells to Asia".