Venezuela up over 235% this year

Venezuela’s main IBC stock market index, which measures the 15 most liquid stocks on the Caracas market, is up over 235% so far this year, in local currency terms.

Over five years, the market has returned some 19,500%.

The market has been picked out by fund distributor Nordnet’s Norwegian branch among a list of markets that have provided strong double digit, and event triple digit returns.

A key caveat is that annualised inflation in Venezuela is estimated to be running at levels approaching 200%, while it remains challenging for international investors to invest in the country.

Nordnet’s comments, which were reported in Norwegian daily Dagens Næringsliv, also highlight Jamaica (83%), Argentina (57%), Hungary (43%) and Latvia (43%) as markets where local indices have provided stellar returns in 2015.

However, it is not all positive news for frontier or emerging markets. Peru and Ukraine have served up negative returns of over 30%, the data suggests.

 

 

ABOUT THE AUTHOR
Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 16 years he has been based in London writing about funds and investments . From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope.

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