Shunning politically volatile Brazil makes no sense for emerging-market investors, according to Invesco Ltd.
The firm with $841 billion under management is looking to “re-engage” in Brazil after taking some profits earlier in the year, as long as momentum builds behind economic reforms, said Arnab Das, Invesco’s London-based head of emerging-market macro. Brazil’s over-sized presence in developing nations makes it unfeasible to go completely underweight despite the recession and political uncertainty that have weakened the economy, he said.
