INVESCO launches Offshore Latin American Equity Fund

Invesco today announced the launch of a new fund, the Invesco Latin American Equity Fund, available to offshore investors and managed by award winning fund manager Dean Newman, who has 24 years’ experience investing in the region.

Invesco opened its Dubai based Middle East operations in September 2005 and has a license from the Dubai Financial Services Authority (DFSA) to operate from the Dubai International Financial Centre (DIFC) as an authorised firm. Recently, the inaugural Invesco Middle East Asset Management Study* revealed that Middle East investors are increasingly focusing towards emerging markets across the world including Latin America.

Nick Tolchard, Managing Director of International Development Division and Head of Invesco Middle East commented: “Emerging markets is an important and growing area for us and the launch of this fund is part of a long-term initiative, aimed at offering offshore investors increased access to Invesco’s established emerging market expertise. It has been launched in response to the strong demand from offshore investors, particularly in the Middle East, who stated in our recent research that 82% plan to increase their exposure to emerging markets over the next 3-5 years.

“For our investor base, it is all about long term positioning, and this fund will offer them the opportunity to invest in this young, emerging and currently attractively valued asset class which is often under represented in many global portfolios. It will also complement our existing, popular suite of Asian products, and offer broader choice to investors.”

The fund aims to achieve long term capital growth through investing in shares of Latin American companies, and is expected to have a similar asset allocation to the onshore Invesco Perpetual Latin American Fund.

Offshore investors will now be able to access the potential returns from the robust economic growth, attractive domestic demand and rich natural resources in the region via the proven experience of Invesco’s emerging markets team.

Commenting on the region fund manager Dean Newman said: “Latin America is long-term story, economic growth this year and next is likely to be significantly stronger than in the developed world. Both household and corporate balance sheets are strong in Latin America and are far more robust than in Europe and the UK. This means that while consumers are increasingly able to buy durable goods, companies are in a position to invest in strong future growth.”