Kaloo looks to the consumer as LatAm becomes more than a commodity play

TIP OF THE WEEK

Devan Kaloo, head of global emerging markets at Aberdeen, gives his tips for making the most of opportunities in Latin American markets

For many investors, the attraction of Latin America has been the exposure to the region’s commodities, but at Aberdeen we have always focused on the best opportunities unearthed through diligent research and meeting the management teams. Many of these opportunities lie in the development of a strong domestic consumption story. Indeed, many of the new companies that came to market in the IPO boom of 2004-07, have offered quality exposure to this driver of sustainable earnings growth. We have been happy to take contrarian positions, avoiding large index constituents in favour of better-run...