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Global Emerging Markets Quarterly - 3Q 2011

02 November 2011

Opportunities in LATAM amid the market gloomA recent investment research visit to the LATAM region has provided us with some new perspectives as regards individual company prospects. While we remain modestly underweight in LATAM, we believe that the region will continue to provide a fertile source of stock selection opportunities.

 

  

Brazil

In common with other emerging markets, rising prosperity, a youthful population and ample credit availability have been reflected in a growing demand for housing in Brazil. This has spawned the growth of a real-estate brokerage industry, within which Brazil Brokers is a leading provider. The company had its initial IPO in October 2007 when it was a combination of 16 real estate brokerage companies. Substantial further consolidation within the brokerage sector subsequently occurred and following further acquisitions Brazil Brokers now has the biggest sales force in the industry.

 

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