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ASI Latin American Equity Class I - Accumulation (GBP)

Sell:109.96p Buy:109.96p Change: 0.56p (0.51%)
Prices as at 18 June 2021
Change: 0.56p (0.51%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Prices as at 18 June 2021
Change: 0.56p (0.51%)
Prices as at 18 June 2021
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund is on the Wealth Shortlist of funds our analysts believe have the potential to outperform their peers over the long term. However, this is not a recommendation to buy.

This specialist fund focuses on the main markets of Latin America, including Brazil, Mexico, Chile and Peru. The fund is run by a team with one of the longest records of investing in a dedicated Latin American fund. We like their long-term focus, but willingness to be flexible in the hunt for the best opportunities.

We think the fund could provide a way to diversify a portfolio invested in broader global or emerging markets funds. Higher volatility and risk should be expected from a fund like this, given it focuses on a small group of emerging economies. It should therefore only be considered to form a small part of a wider investment portfolio, focused on long-term growth.

Our view on the sector

Funds that invest in this region tend to focus on larger Latin American economies like Brazil and Mexico and have less exposure to smaller economies like Chile and Colombia. A young, enthusiastic workforce, better education, improving infrastructure and a rich variety of commodities and resources are all boosting economic growth. But political instability, corruption, and inflation are a risk in Latin America, just like in many emerging economies. For these reasons, an investment in this region is higher-risk and a long-term investment approach is essential.

Performance Analysis

The Global Emerging Markets Equity team has managed this fund since launch in 2011, and also run other portfolios focused on Latin American markets since 2004. Over this time, and since launch of the ASI Latin American Equity Fund, the team has performed better than the broader Latin American stock market. We think this is impressive as few dedicated Latin American funds have been able to outperform over such long periods of time. There are no guarantees this performance will continue.

There have been periods of weaker performance as well though, and performance will be volatile at times, especially compared with funds that focus on a broader range of emerging economies or developed markets. We think this should be expected from economies that continue to evolve and experience more political and economic uncertainty than developed markets.

Investment Philosophy

The team's investment philosophy is based on 'long-term quality'. They believe most investors underestimate the sustainability of returns that many high-quality companies can make. They aim to find those that can generate fairly steady rates of growth, which have been overlooked by others, and hold onto them for many years.

Process and Portfolio Construction

Companies in good financial health, run by robust and trustworthy management teams are favoured by the team. They often look for a change that could help boost profits in future, such as a new product or change in technology. They sometimes invest in out-of-favour companies because they're often undervalued and can be bought at a more attractive share price.

The fund has a bias towards consumer-related businesses that could benefit from rising wealth and consumer spending, but the team aims to have at least some exposure to most major sectors.

Meeting company management is important to the team, and they can do this regularly as they're based throughout the emerging markets, including Latin America. They also like to engage with companies on environmental, social and governance issues, which could lead to better outcomes for both investors and society over the long run.

question mark Manager Track Record Based on HL Quantitative Research

  • Dankse Invest Latin Amerika
  • FTSE AW Latin America TR USD
  • AS SICAV I - Latin American...
  • ASI Latin American Equity A Acc
  • FTSE AW Latin America TR USD

Fund Track Record

18/06/16 to 18/06/17 18/06/17 to 18/06/18 18/06/18 to 18/06/19 18/06/19 to 18/06/20 18/06/20 to 18/06/21
Annual return 40.90% -9.11% 28.51% -28.48% 22.47%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Fund Management Group Comment

Aberdeen Asset Management is a global investment management group, managing assets for both institutional and retail clients from offices around the world. Aberdeen is best known for its Global Emerging Markets and Asian funds.

Investors gain access to Aberdeen's expertise through a range of assets including shares, fixed income and property. Aberdeen's investment teams are based in the markets or regions in which they invest giving them direct access to company management and allowing them to use local knowledge to the best of their abilities when it comes to investing.

Information about the fund

Fund manager biography

Manager Name: Global Emerging Markets Equity Team
Manager start date: 9 February 2011
Manager located in: TBC

Global Emerging Markets Equity Team

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account