Amundi Equity Latin America - Neutral

FUND RESEARCH UPDATE: Fund analysts downgrade rating to Neutral

Arthur Mennechet 25 February, 2015 | 9:49AM
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We have downgraded the Morningstar Analyst Rating for the Amundi Funds Equity Latin America to Neutral. It previously held a Bronze rating. The fund’s continuing underperformance over the last five years has weighed down our conviction. Although this is largely explained by the portfolio’s long-term overweighting in Brazil, which has significantly underperformed other Latin American countries, it remains disappointing in that the investment approach is supposed to add value through both stock selection and country allocation, and we are worried this latter performance driver has been ineffective for such a long period. At the same time, the fund’s price has remained higher than average, with a poorly structured performance fee, an additional reason to be cautious in our view.

 

See the latest Morningstar fund rating news here.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Amundi Fds Latin Amer Eq A USD C436.25 USD1.29Rating

About Author

Arthur Mennechet

Arthur Mennechet  Fund Analyst, Morningstar France