Brazil's reforms lift emerging-markets funds

[Judi Lynn]

Brazil's reforms lift emerging-markets funds
28 minutes ago

By Sandra Block, USA TODAY

Luiz Inacio Lula da Silva isn't exactly a household name in the USA, but if you owned an emerging-markets fund last year, you may want to thank him.

Energized by the Brazilian (news - web sites) president's economic reforms, Brazil's stock market skyrocketed more than 102% in 2003, according to Morgan Stanley Capital International's emerging-markets index. Brazil is a major component of many emerging-markets funds. The average fund in that category posted a 55% gain.


Funds that concentrated on Latin America performed even better, rising an average 60%. The average stock fund rose 32% in 2003, according to fund-tracker Lipper.


"Brazil was the darling of the investing public," says Andrew Clark, senior research analyst for Lipper.
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http://news.yahoo.com/news?tmpl=story&u=/usatoday/20040106/tc_usatoday/brazilsreformsliftemergingmarketsfunds

[lcordero]

1. LOL

If you want a good economy put a leftist in charge of it:D