CAAM says Brazil best Latin American bet

Reuters- Investors betting on Latin America should be overweight Brazil, the region’s top economy, at the expense of exposure to Argentina, Mexico and Chile, a Credit Agricole Asset Management (CAAM) executive said on Monday.

They should also be overweight the region’s energy and telecom firms, while limiting exposure to consumer discretionary and IT plays, added Stephane Mauppin-Higashino, a product specialist with the 481.7 billion euro fund house. Brazil’s Bovespa index .BVSP hit a record high last month after rating agency Standard & Poor’s lifted Brazil’s credit rating in April to much-coveted investment-grade status.

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