Past performance is not a reliable indicator of future performance.
The Latin America Equity Composite seeks long-term capital appreciation through investment in companies in Latin America, with faster earnings growth and reasonable valuation levels relative to market/sector averages.
- Employ fundamental analysis to identify companies with sustainable above-market earnings growth rates.
- Focus on franchise strength, management team quality, free cash flow, and financing/balance sheet structure.
- Verify relative valuation appeal versus both local market and region.
- Apply negative screening for macroeconomic and political factors to temper bottom-up enthusiasm for specific securities.
- Typically 30-60 stock portfolio.
- Individual positions typically range from 0.5% to 20.0% — average position size of 2.0% to 3.0%.
- Sector ranges typically +/- 10.0% absolute deviation to the benchmark.
- Country ranges typically +/- 10.0% absolute deviation to the benchmark.
- Reserves typically range from 0.0% to 5.0%.
- Expected Turnover 20.0% to 50.0%.
|3 MonthsData as of 30-Sep-2021||Year to DateData as of 30-Sep-2021|
|Composite Gross %||-12.46%||-7.49%|
|Composite Net %||-12.66%||-8.09%|
|Excess Return (Gross) %||0.80%||-1.94%|