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Justin Kuepper

Argentine Stocks Attract Morgan Stanley Investment

By February 5, 2013

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Argentina's stocks fell to near four-year lows by late January, attracting the interest of Morgan Stanley Investment Management and BlackRock Inc., according to a Bloomberg report. The market had been hit hard in 2012, thanks to the seizure of the nation's largest oil company and restriction of imports and capital flows imposed, but has rebounded steadily so far this year.

One index, the MSCI Argentina, that tracks U.S. listed shares of two banks, two oil producers and the nation's telecom provider, was valued at around 1.1x net assets on January 30, 2013, which was about 30% below its four-year average and less than the multiple of 1.5x for the MSCI Frontier Markets Index, according to the same Bloomberg article.

Investors may therefore want to consider some Argentine stocks for their own portfolios, or perhaps some components of the country's MERVAL index.

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