-
Aberdeen Latin America Equity Fund, Inc. (NYSE AMEX: LAQ)
- (EDT)
- » Closed-End Fund Center
Our fund managers' most useful tool No. 3: A scooter
In emerging markets, we make sure we get there in person.
Daily Data
At close Sep, 02 2010
| NAV | $45.72 |
| Price | $42.45 |
| Premium/Discount | -7.15% |
NAV and prices are provided by Morningstar. This information is unaudited and neither Aberdeen Asset Management PLC, its wholly owned subsidiaries, the Funds, nor any other person guarantees their accuracy.
Request Information
If you require further information on any of our Closed-End Funds:
Aberdeen Latin America Equity Fund, Inc. (NYSE AMEX: LAQ)
Investment Objective
The Fund seeks long-term capital appreciation by investing primarily in Latin American equity securities.
Nick Robinson, Investment Manager Interviewed by CNBC on Monday, June 7, 2010
Disclaimer: This video is for informational purposes only. The views expressed in this video should not be construed as advice on how to construct a portfolio.
Investment Policies
It is the policy of the Fund to invest its assets in Latin American equity securities. For these purposes, “Latin American equity securities” are equity securities of companies organized in a country in Latin America or for which the principal trading market is in Latin America.
The information contained above provides only a brief summary description of the Fund's investment objective and investment policies.
Fund Managers’ Monthly Report
July 2010
- Latin American equities fell in June amid concerns over the sustainability of the global economic recovery.
- First-quarter GDP rose in Brazil and Argentina, while growth in Chile accelerated sharply in April.
- Central banks in Brazil and Chile raised their benchmark interest rates, while Mexico kept interest rates unchanged.
- In Fund-related news, Banco Bradesco purchased Ibi Mexico for 297.6 million reals (approximately US$168.7 million) and will buy back 15 million shares over the next six months. Metals and mining company Vale agreed to sell a 30% stake in its Vale Oman plant to Oman Oil for US$125 million. The company also will sell its holding in a joint venture to Norsk Hydro in return for a 22% stake in the Norwegian aluminum producer.
- During the month, we initiated a position in Brazilian software developer Totvs, a specialist in the SME (small and medium enterprises) segment of the market. We also added to our holding in integrated oil and gas company Petrobras on relative price weakness and trimmed our position in retailer Lojas Renner on price strength.