The present crisis in Latin American financial markets has not received the kind of end-of-the-world-is-nigh coverage accorded to previous emerging-market crises.
But that doesn’t mean investors aren’t showing signs of panicking; quite the opposite. Across the hemisphere, fund redemptions are running at record rates, as individuals sell out at market lows.
Latin America’s mutual fund industry has been dealt a severe blow this year: total funds under management plunged to $163.2 billion from $202.1 billion in just the three months from the end of March to the end of June.
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