(Reuters) Mexico’s peso has improbably been the world’s top-performing currency since Donald Trump’s presidential inauguration, and an increasing number of emerging market fund managers said it could rebound further from its nosedive following the U.S. election.
Even before its inauguration comeback, a number of emerging market fund managers were betting that the peso had seen its worst days and was poised to outperform in 2017 along with other Mexican assets.
"We've gone from an outright short late last year to an overweight position relative to the index, just because there’s a lot of bad news priced in," said Jim Barrineau, Schroders' head of emerging markets debt and portfolio manager for its multi-sector bond fund.
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