Posted inTop Trumps

Mutual Fund Top Trumps: Latin America – 30 November 2023

This week FSA presents a quick comparison of two Latin American products: the Barings Latin America fund and the Fidelity Latin America fund.
Source: FE Fundinfo. All relevant fund data converted to US dollars for comparative purposes. Performance, alpha and volatility are annualised over three years with data as reported at the end of last month. Information ratio (IR) aims to measure a portfolio manager’s consistent ability to generate excess returns relative to a benchmark. The higher the IR, the more consistent the manager is.

Based on the popular 80s card game, each week we select an asset class and use FE Fundinfo data to compare two funds based on their three-year performance, assets under management, alpha, volatility, ongoing charges and information ratio to decide who is the Top Trump.

This week, the Barings Latin America fund defeats the Fidelity Latin America fund 5-1.

Barings Latin America fund

The Barings Latin America fund aims to achieve long-term capital growth primarily through investment in a diversified portfolio of Latin American equity securities.

Top 10 holdings:

  1. Petroleo Brasileiro (8.62%)
  2. Vale (6.73%)
  3. Wal-Mart de Mexico (4.66%)
  4. Fomento Economico Mexicano (4.34%)
  5. Itausa (3.48%)
  6. Itau Unibanco (3.4%)
  7. America Movil (2.92%)
  8. WEG (2.87%)
  9. Grupo Financiero Banorte (2.8%)
  10. Equatorial Energia (2.8%)

Fidelity Latin America fund

The fund invests at least 70% (and normally 75%) of its assets in equities of companies that are listed, headquartered, or do most of their business in Latin America.

Top 10 holdings:

  1. Petroleo Brasileiro – Petrobas (9.2%)
  2. Vale (5.3%)
  3. Grupo Financ Banorte (5.2%)
  4. Walmart de Mexico (5.1%)
  5. Itau Unibanco Holding (5.1%)
  6. Grupo Mexico SAB De CV Materials Mexico (4.9%)
  7. Prio SA Energy Brazil (4.7%)
  8. B3 SA Brasil Bolsa Balcao Financials Brazil (4.7%)
  9. Localiza Rent A Car SA Industrials Brazil (3.6%)
  10. Mercadolibre Inc Consumer Discretionary United States (3.2%)

Part of the Mark Allen Group.