Investors looking for exposure to Latin American markets were in for a pleasant surprise last week, as 14 mutual funds from the "Latin America Stock" category reported an average gain of 5.16%. Notably, Fidelity Advisor® Latin America I, Z, and M funds were among the strong performers, showcasing the potential of the Latin American market.
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Each of these Fidelity funds experienced a considerable weekly price change, amounting to an increase of nearly 5.9%. The prices ranged from $20.42 for the Fidelity Advisor® Latin America I (FLFIX) fund to $20.53 for the Fidelity Advisor® Latin America M (FLFTX) fund. All three funds registered a daily change of approximately +2.14%.
Net assets for all three funds stood at $250.5M, reflecting a considerable pool of capital invested in the Latin American market. The goal of these funds is long-term capital growth, achieved by investing at least 80% of their assets in securities of Latin American issuers or other investments economically tied to Latin America.
Their primary focus is on common stocks, and the funds allocate investments across different Latin American countries. Additionally, they can invest up to 35% of total assets in any industry, accounting for more than 20% of the Latin American market.
Despite the recent gains, a look at the average fundamental analysis ratings shows a mixed picture. On a scale where 1 is best and 100 is worst:
While the robust weekly performance of these funds points to the potential of the Latin American markets, the mixed fundamental analysis ratings underscore the importance of thorough research and consideration of various market factors. These recent gains could potentially represent an attractive opportunity for investors looking to diversify their portfolios and invest in emerging markets. However, as always, investors are advised to proceed with caution, taking into account the inherent risks and volatility associated with investing in foreign markets.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
A.I.dvisor indicates that over the last year, FLFIX has been closely correlated with SLANX. These tickers have moved in lockstep 87% of the time. This A.I.-generated data suggests there is a high statistical probability that if FLFIX jumps, then SLANX could also see price increases.