A Look at the Soaring Latin America Group
Pickings are slim in this year's leading category.
Through Feb. 9, the Latin America stock category has been 2012's best performer among the 90-plus Morningstar categories. It has not eased into the top spot by default; it has earned its place. The category has soared 18.4%, putting it more than 4 percentage points ahead of the next-best performer, the U.S.-focused technology category. That’s quite a turnaround. In 2011, the Latin America group sank 22.6%, posting the second-worst category performance.
A change in the attitudes of global investors helps explain the trend. Despite ongoing worries about the eurozone debt crisis and restrained expectations for global growth, encouraging economic news from the United States and the hesitant but meaningful steps that European leaders have taken to address their situation have eased investor fears to a degree.
Gregg Wolper does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.