FIDELITY Investments is launching a Latin America equities fund to add to its product range and offer investors an alternative choice to Asia-Pacific markets. The launch follows similar product offers by a number of companies intent on investing in the equities of the region. They include Baring International Fund Management and Global Asset Management. Investors are required to make a minimum investment of US$2,500 in the fund and $1,000 thereafter. Front-end entry fee is 5.25 per cent with an annual management fee of 1.5 per cent. Richard Wastcoat, Fidelity's regional marketing director, said: ''The fund is ideal for investors looking for international portfolio diversification, for long-term growth in some of the world's most exciting economies.'' There is an initial offer period, from today to May 25, during which the entry fee is reduced to 3.25 per cent. After the period there is a fixed unit price of US$10. The fund management group points to growing economic and political stability in the region, a reduction in fiscal deficits and deregulation along with privatisation plans as encouraging trends for equity investors prepared to sit out the long term. Mr Wastcoat said: ''Latin America should be the next Southeast Asia. ''The region has returned to economic growth and lower inflation, and is now in a phase of rapid economic development.'' Initial asset allocation is expected to be 47 per cent on Mexico, Brazil 24 per cent, Argentina 23 per cent and Chile six per cent.
