I usually like to compare any non-Vanguard fund against a similar Vanguard fund. Non-Vanguard funds are, almost always, more expensive than Vanguard funds.
The question I ask is: for the addition expense, what am I getting in return?
One Vanguard fund that has Latin America investments is VMMSX:
https://personal.vanguard.com/us/funds/snapshot?FundId=0752&FundIntExt=INT#tab=0Click the COMPARE button and compare it with your fund (FLATX). The answer should tell you that FLATX is not a good option in many ways...cost, diversification, returns, etc.
If you do decide to bail from FLATX, be careful of the following:
+ Redemption Fee 1.50%
+ Redemption Period 90 days
A good way to avoid loss of money is to stop adding any money to the fund for 90 days. And then withdraw money from the fund.
Else, you will pay 1.50% penalty called Redemption Fee. If you already knew this, my apologies....please ignore it.