The fund gained 3.19% in the quarter, outperforming its benchmark which fell 0.10%. Strong performance in Latin America, especially from Brazilian oil producers Petrobras and Prio, was driven by rising oil prices due to supply issues in the Middle East. However, HDFC Bank in India detracted from returns due to concerns over slowing deposit growth affecting loan expansion. The fund focuses on technology, infrastructure, and domestic brands as key growth drivers in emerging markets.
Petrobras posted mixed financial results for the first quarter, with earnings per share and revenue falling short of expectations and a 15% year-over-year drop in dividends. Despite a generally bullish market sentiment and a low forward price-to-earn...
Petrobras, a low-cost oil producer with a breakeven near $50 per barrel, benefits from Brent oil prices holding above $90 in 2026. Despite political and debt risks specific to Brazil, the company trades at a discount compared to global peers but offe...
Baker Hughes has extended and expanded its contract with Petrobras to provide integrated well construction solutions in Brazil's Santos Basin. The company will deploy advanced technologies like the AutoTrak rotary steerable system and Dynamus drill b...
