Latin America The region experienced mixed development in 2012, with Mexico showing signs of robust growth, while Brazil, after a decade of economic expansion, experienced a period of lower equity capital markets activity. Issuers from the region traded about 37 billion DRs, a slight decrease from 2011, versus a 21% decline in their value to $667 billion. Chilean retailer Cencosud made a case for U.S. listings as a means for issuers to overcome challenging home market conditions. BNY Mellon won significant programs from Brazilian companies, including Petrobras' common and preferred programs via a successorship, as well as a complex listing in Sao Paulo and Amsterdam for independent investment bank BTG Pactual.
BNY Mellon Classic ADR Index(SM) 18% Return In 2012 Beats S&P 500, Led By Europe
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