Fully-invested J.P. Morgan Brazil IT takes strong domestic stance

J.P. Morgan's Brazil IT is now fully invested, and running with a heavy bias towards the domestic consumer.

Portfolio manager Sebastian Luparia is using a combination of top-down thematic investing and bottom-up stock selection to harness the growth potential of Latin America’s largest economy. His largest sector weighting is to industrials, where the fund has a 21% position – a hefty overweight to the 5% in the benchmark MSCI Brazil index. The next largest sector position is consumer staples at just under 20%, an 8% overweight to the benchmark. Luparia’s heaviest underweight is to the materials sector, which is 8% of the portfolio compared to 20% in the index. There is just one miner in its t...