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Emerging markets are cheap for a reason
trueSo are emerging markets likely to underperform or outperform this year? Consider the following:
Nomura Asset Management adds to Latin America management team in London
trueNick Payne was appointed Latin American portfolio manager at Nomura Asset Management U.K.
Partnerships and acquisitions pay off south of the border for Principal
truePrincipal Financial Group Inc. claimed 18% of its operating profit from money management operations in Latin America in 2013, the result of a series of bold moves in a treacherous market where few other global managers have found success.
Illinois Muni wants real estate manager targeting Europe, Latin America
trueIllinois Municipal Retirement Fund on Tuesday issued an RFP for at least one commingled real estate manager to run at least $100 million focused on Europe and/or Latin America.
Argentina loses bid for full-court rehearing of bond appeal
trueArgentina lost its bid for a rehearing of a federal appeals court ruling against it in litigation over $1.5 billion in the nation's defaulted bonds.
OGX files for bankruptcy protection in Rio
trueOGX Petroleo & Gas Participacoes SA, the oil company controlled by former billionaire Eike Batista, filed for bankruptcy protection in Rio de Janeiro Wednesday, Sergio Bermudes, Mr. Batista's lawyer, said by telephone.
CPPIB forms joint venture to invest in Brazil residential real estate
trueCanada Pension Plan Investment Board, Toronto, formed a real estate joint venture with Brazilian investment bank Banco BTG Pactual to invest in residential developments in Brazil.
Darby Overseas Investments beefs up Latin America private equity team
trueRoberto Velarde has joined Darby Overseas Investments, the private equity arm of Franklin Templeton Investments, as managing director, Latin America private equity.
Afore SURA picks 4 global equity managers, custodian
trueAfore SURA, Mexico City, hired Pioneer Investments, BlackRock, Morgan Stanley and Investec to manage $700 million total in global equity.
Puerto Rico overhauls public pension fund with new law
trueAn overhaul of Puerto Rico's cash-strapped public pension fund was signed into law Thursday by Gov. Alejandro Garcia Padilla.
Itau Asset Management's institutional chief departs
trueRoberto Nishikawa, global head of institutional clients and business development at Itau Asset Management, left the firm.
Brazil pensions must diversify globally
trueAs the world's sixth largest economy with a sizable portion of its workforce moving to the middle class from lower-wage, lower-skilled positions, Brazil is in a position to learn from generations of pension evolution in other parts of the world.
MetLife pays $2 billion for Chile pension manager
trueMetLife, the largest U.S. life insurer, agreed to buy Chilean pension manager AFP Provida from Banco Bilbao Vizcaya Argentaria in a deal valued at about $2 billion to add fee income in Latin America.
Pioneer Investments picks head of Western Europe and Latin America
trueJon Bailie was named head of Western Europe and Latin America at Pioneer Investments.
MetLife in advanced discussions to buy BBVA Chile pension business
trueMetLife is in advanced talks to buy the Chilean pension management unit of Banco Bilbao Vizcaya Argentaria, which has a market value of more than $2 billion, said three people with knowledge of the matter.