Latin American private banking: Advisers sceptical of highs

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Latin American private banking: Advisers sceptical of highs

Brazilian equities proved irresistible to investors in 2009, but private bankers are looking elsewhere for returns amid fears that the love affair might not last another year. Chloe Hayward reports.



VALENTINE’S DAY COMES but once a year, but for Brazil romance has been in the air for many months already. "There has been a love affair between Brazilian paper and the rest of the world. Everyone wants a bit of it," says José Leopoldo Figueiredo, founder of asset management boutique Credit Suisse Hedging-Griffo. The equity market has soared on the back of Brazil’s rapid emergence from the global downturn – the MSCI Latin index was up 91% in 2009, more than any other region worldwide.



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