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Argentina’s Macri Wins Over $17 Billion Mutual Fund Industry

  • Funds that invest in longer-term assets have soared this year
  • Slowing inflation is helping boost optimism in economy
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Argentina's Economic Rebuild as an Investment Opportunity

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Since taking office in December, Argentina President Mauricio Macri has won over foreign investors by pulling the nation out of default and restoring the credibility of its data. Now, he’s also beginning to get a vote of confidence from the country’s $17 billion mutual fund industry.

Funds that buy assets maturing in more than 18 months have soared 66 percent this year, outpacing the growth in those dedicated to shorter-term investments, according to Moody’s Investors Service. The trend is likely to become even more pronounced in the coming months amid increasing optimism about Argentina’s economic outlook, said Moody’s analyst Carlos de Nevares.