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<a href="http://www.accessmylibrary.com/article-1G1-101020710/latin-america-ruled-foreign.html" title="Facts and information about Latin America Ruled The Foreign Roost In Month; Germany could benefit from manufacturing sector if growth gains a toehold.(SERIES: FUNDS & PERSONAL FINANCE)(IBD SPECIAL REPORT)">Latin America Ruled The Foreign Roost In Month; Germany could benefit from manufacturing sector if growth gains a toehold.(SERIES: FUNDS & PERSONAL FINANCE)(IBD SPECIAL REPORT)</a>
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Latin America Ruled The Foreign Roost In Month; Germany could benefit from manufacturing sector if growth gains a toehold.(SERIES: FUNDS & PERSONAL FINANCE)(IBD SPECIAL REPORT)
Byline: DAN MOREAU
Boosted by good economic news from key countries Argentina and Brazil, Latin American mutual funds jumped 15.72% in April, Lipper Inc. reported in preliminary figures through Tuesday.
That was the best performance of any foreign or domestic fund category. The average world equity fund was up 7.44% in April. The average U.S. diversified stock fund rose 7.49%, while the S&P 500 index was up 8.21%.
The gain in Latin American funds came as Argentina's economy showed the first real signs of recovery in the first quarter.
The Argentine Economy Ministry said imports rose almost 20% over year-earlier results. It added push to the news by saying there was "a parallel increase in local production."
Argentina's Run-Off
This comes after a disastrous 2002, when Argentina's economy contracted almost 11% and the peso depreciated 70%. Argentines are set to elect a new president in a run-off.
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