(Bloomberg) -- HBSC Holdings Plc's Brazil Equity
Fund, the world's largest portfolio focusing on South America's
biggest economy, has quadrupled over five years by counting on
demand for the country's natural resources. Not anymore.
Manager Luiz Ribeiro is shifting the $1.8 billion fund away
from mining companies such as Cia. Vale do Rio Doce to take
advantage of domestic spending as Brazil grows at twice the pace
of the U.S. In the past year he's pulled 10 percent of his assets
away from natural resource stocks and put them into house
builders including Rossi Residencial SA, as well as store manager
Lojas Americanas SA.
Read more at Bloomberg Exclusive News
Fund, the world's largest portfolio focusing on South America's
biggest economy, has quadrupled over five years by counting on
demand for the country's natural resources. Not anymore.
Manager Luiz Ribeiro is shifting the $1.8 billion fund away
from mining companies such as Cia. Vale do Rio Doce to take
advantage of domestic spending as Brazil grows at twice the pace
of the U.S. In the past year he's pulled 10 percent of his assets
away from natural resource stocks and put them into house
builders including Rossi Residencial SA, as well as store manager
Lojas Americanas SA.
Read more at Bloomberg Exclusive News
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