In the Margins
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.
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