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Topics: Revenue, Free cash flow, Generally Accepted Accounting Principles Pages: 2 (606 words) Published: June 19, 2014
5087_ch19

25/06/02

12.15 pm

Page 453

Chapter 19: International Portfolio Theory and Diversification

Fidelity
T. Rowe Price
Merrill Lynch
Scudder
Kemper

http://www.fidelity.com/funds/
http://www.troweprice.com/
http://www.ml.com/
http://www.scudder.com/
http://www.kemper.com/

2. Center for Latin American Capital Markets
Research. Because most of the Latin American
markets suffered significant declines in market
value following the Mexican peso crisis of

453

December 1994, many of these markets may still
be some of the most undervalued markets in the
world. If you were given the task of investing
US$1 million in a single equity market in Latin
America, which one would you choose? Use the
World Wide Web to find recent market performance statistics to support your choice. Center for Latin American Capital
http://www.netrus.net/users/gmorles/

MINI - CASE

P R I VAT E E Q U I T Y

IN

L AT I N A M E R I C A —T H E S OTO G R O U P

Private equity focuses on purchasing small privately held
firms, restructuring them with infusions of capital and professional management and taking them public several years later. This means that their worth to private equity
investors is in their terminal value—their value when taken public several years from now.
The Soto Group is a Mexico City-based private equity
fund. The Group is evaluating the prospects for purchasing
Guga Avionics (Buenos Aires), an aviation operating and
management firm with current business operations
throughout Argentina and southern Brazil. The Soto
Group has, through due diligence process, acquired the
needed financial statements, inventory of assets, and
assessment of operations. Soto’s valuation staff typically values the potential target on both an a priori basis (current structure and management strategy) and an ex post

basis (expected values after capital and management
expertise injections).
The second major set of “ifs” associated with...
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