China and Brazil stay ‘on top in 07′
China and Brazil remained on track economically in 2007 despite the subprime crisis in the US, say industry experts.
Lipper Analysis tracked 67 Chinese funds and 28 in Latin America, which gained 55.17 per cent and 46 per cent respectively, reports Investors.com.
Major Brazilian economic successes for last year were Petrobras, which benefited from skyrocketing oil prices and reports of a new offshore oil discovery, and steel giants ArcelorMittal and Gerdau, which "got a lift" from Asian infrastructure needs.
Ray Mills, portfolio manager of T. Rowe Price International Growth and Income Fund and T. Rowe Price Overseas Stock Fund, commented on the progress emerging markets such as China and Brazil have made.
He told Investors.com: "The valuation disparity between emerging and developed markets has reversed…Emerging markets have been very much in vogue."
Mills’ comments follow those from independent property advisory website, BuyAssociation, which praised property investment opportunities in Brazil earlier this week.
Paul Collins, overseas property editor of BuyAssociation, said: "With South America there are more and more direct flights going there all the time anyway and you also have the US market, which you can rent to, particularly with places like Brazil."
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