The new Sicav will be managed by Dean Newman who has managed equities for over 24 years and is also the firm’s head of emerging markets. It will aim to achieve long-term capital growth through investing in shares of Latin American companies and is expected to have a similar asset allocation to the onshore Invesco Perpetual Latin American Fund
Nick Tolchard, managing director of international development division and head of Invesco Middle East said: “Emerging markets is a growing area for us and the launch of this fund is part of a long-term initiative, aimed at offering offshore investors increased access to Invesco’s emerging market expertise.”
Tolchard added the company’s research had found 82% of offshore investors, particularly those in the Middle East, intend to increase their exposure to emerging markets over the
next three to five years.
Newman said Latin America’s economic growth is likely to be significantly stronger than in the developed world this year and next, with both corporate and household balance sheets stronger and more robust than in Europe and the UK.
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