For Yerlan Syzdykov, fund manager at Pioneer, the future is Argentinian. The Dublin-based investment manager, who oversees Pioneer's Emerging Markets Bond fund, recently revealed to Citywire that the country is his top investment tip.
It may not seem like an obvious candidate. It's barely a decade since its notorious default in 2002 and even Syzdykov (whose fund has returned 109% in the last three years compared to a 60.3% rise in its benchmark) admits that other investors fear the institutional crisis hasn't yet "come to an end" and that the country isn't "ready to take off in terms of growth potential". However, at 9.4%, Argentina currently counts as his fund's largest geographical holding higher than Brazil, which makes up 8.9%.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
£150 off energy bills: millions more to get discount this winterThe expansion of the Warm Home Discount scheme follows a government U-turn on the Winter Fuel Payment. We explain who will get the £150 discount
-
Akio Toyoda takes back control of ToyotaToyota chairman Akio Toyoda once made a pledge to fulfil his grandfather’s dreams for the family business that became Japan’s first domestic carmaker. He is now making good on that promise.
