"Banks in Brazil had no hiccups during the downturn, a lot of them have a 100 per cent domestic business, helping them to avoid the contagion, and are Basel III compliant. They are well capitalised and well managed," he said.
Financials make up a quarter of the trust's portfolio, and the manager says the sector's outperformance is set to continue as domestic demand for insurance and investment banking increases. Landers' fund is 71 per cent overweight in Brazil.
The manager dismissed claims that valuations in the emerging market country are expensive, saying many equities are still trading at a discount to those in the developed region. He has dropped some retail from his portfolio this year, however, saying that sector is expensive.
"The west is still more liquid than emerging regions, that is true, but valuations just aren’t as compelling," he said.
"Europe could be seen as trading more in line with Brazil, but there are a lot of questions over the future stability of Europe," he added.
Performance of BlackRock Latin American IT vs MSCI Emerging Markets Latin America over 3-yrs
Source: Financial Express Analytics
Landers' £321.8m BlackRock Latin American IT has returned more than 50 per cent to investors in the past three years, compared to just 9.9 per cent from the MSCI Emerging Markets Latin America index.
While mining success story Vale and oil and gas giant Petrobras both feature in the trust's top ten holdings, its main focus is mid-caps, differentiating it from other Latin American vehicles.
"The BlackRock fund is a sensible way for investors to reach Latin America. It's trading at around a 5 per cent discount, so looks fairly good value. Aberdeen and JPMorgan have both launched LatAm trusts this year, but Landers' is longstanding and a good performer," Stephen Peters, Charles Stanley's investment trust analyst said.
Performance of Latin American trusts over 3-mths
Source: Financial Express Analytics
Since the launch of the newest fund, Aberdeen Latin American Income in August, the BlackRock fund has beaten the other two's returns.
The Aberdeen trust has struggled to outperform both the sector average and the MSCI Emerging Markets Latin America index in the period. Investors should note that a three month time frame is too short to make a real judgement on performance, however.