GEM Investors Still Into Brazil

China funds may be the darlings of GEM investors, but Brazil funds are still among the favorites, reveals a Bank of America-Merrill Lynch survey of 220 fund managers with $617bn under management. The survey, taken earlier in May, finds that 80% of investors are overweight on China, up from around 50% in April. About 30% are overweight on Brazil, up about 5% since April. Investors are pulling out of Chile, however, says the survey, without stating why. While in April some 30% of investors expressed a negative preference to Chile, in May that had jumped to almost 50%. Investors are not so negative on Mexico. In May, almost 20% of investors were pulling out, down from almost 30% in April.