In the Margins

U.S. funds suffer from Brazil exposure

May 22, 2017

By Bloomberg

U.S. mutual funds with large holdings in Brazilian assets are suffering. “I have never seen anything like this,” said William Pruett, manager of the $599 million Fidelity Latin America Fund, which slid 12% on May 18. "It’s incredible that such a large emerging market could move so much in one day.” More than 60% of his fund is comprised of Brazilian stocks. Read the original story from Bloomberg.