Portfolio Update

F&C Latin American Inv Trust PLC
04 July 2005


F&C Latin American Investment Trust

Top ten holdings and all holdings over 5% of gross assets as at 30 June 2005:


Stock                                   % of      Gross Assets


Petroleo Basileiros                    14.1%      46,708,676.70
Vale Rio Doce                           6.2%      20,453,895.57
Walmart De Mexico                       4.9%      16,383,741.40
America Movil                           4.0%      13,178,191.36
Grupo Televisa                          3.6%      11,877,817.00
Kimberley Clark                         3.2%      10,608,035.85
Unibanco Holdings                       2.8%       9,458,038.00
Grupo Modelo                            2.6%       8,523,013.55
CIA Energetica Minas Gerais             2.5%       8,247,903.75
Enersis                                 2.5%       8,160,948.00


                                                 153,600,261.18

Gross Assets                                        332,350,397




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