Another positive contributor to returns was Adecoagro (NYSE:AGRO), a Latin American agricultural company with assets in Argentina, Brazil and Uruguay. Adecoagro’s shares, which performed well throughout 2015, benefited in the fourth quarter from a December announcement by the recently elected Argentinian president, Mauricio Macri, that he would sign a decree to lower export taxes on soybeans, corn and wheat.
Brandes Emerging Markets Value Fund fourth quarter commentary.
