Latin lovers

Emerging markets have been hot in 2003. New Latin American funds have been hottest of all. But how far can they go in their chase for higher returns?By Navroz Patel

Hedge funds and emerging markets were always the two asset classes that caused institutional money managers most sleepless nights. But times have changed. Investors are piling into alternative strategies, and Latin America-focused funds have outperformed all other strategies so far this year, returning 39.6% by the end of September, according to the index of New York-based Hennessee Group’s hedge fund advisory team. The best-established emerging markets funds – including Connecticut-based