Chile's central bank is worried about the global economy.
Although it decided to keep its interest rate at 5.25% for now, the bank's board said slowing growth prompted it to consider a rate cut as early as December instead of early next year.
But even though Chile sees a slowdown ahead, its gross domestic product (GDP) will still grow five-times faster this year than that of the United States. That makes Chile a good place to invest.
Earlier this month a Private Briefing report suggested a Chile fund that Martin Hutchinson, a former global merchant banker and Money Morning's Global Investing Strategist, considers a great way to play that South American nation and avoid debt-laden investments at the same time.
Hutchinson said he favors the fund because it's "dependent on Chile, a well-run country that's rich in natural resources." He added that the fund "has no leverage and has been bashed down - and pays out 10% of its net asset value (NAV) each year in dividends."
Since that report ran on Oct. 5 - less than two weeks ago - this Chile fund has zoomed over 19%.
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To find out which fund is doing so well, or to learn more about Private Briefing, click here.
