MELI - Continued Confidence In Brazilian Equities
2024-02-02 23:51:00 ET
Summary
- In 2023, Brazilian equities experienced significant growth, with the Bovespa Index rising by 22.3% for the year, approaching its all-time high.
- GDP growth, initially forecasted at 0.8%, was revised upwards to over 2.5%, driven by a resilient economy and a robust agricultural sector.
- In 2023, the Emerging Markets Fund adopted a strategic approach by being overweight in Brazilian equities, a decision that played out favorably.
We believe the Brazilian market faces a favorable environment in 2024 due to factors such as continued rate cuts, GDP growth, and attractive valuations....
Continued Confidence In Brazilian Equities