Most distributors of global fund firms seeking allocations from Itaú have been in contact with Pepper. Her potential replacement is Jeff Lombardi (photo).
Azimut acquires 50% of Brazilian wealth manager LFI Investimentos
January 14, 2015 by
Azimut is already present in Brazil via its AZ FuturaInvest advisory operation, which is absorbing LFI, an independent wealth manager founded in 2009.
Itaú’s Setubal mentions Banamex as potential entry to Mexico
January 5, 2015 by
Itaú's interest in Banamex, which was acquired by Citigroup in August 2001 for USD12.5 billion, comes as Roberto Egydio Setubal (photo) seeks to build the São Paulo-based lender into the largest Latin American financial conglomerate.
State and municipal pensions barred from investing in local funds with international exposure
January 5, 2015 by
Local fund managers had been distributing their internationally-focused products to these Brazilian institutional investors through September 2014. However, a technical note (07/2014) issued by the MPS clarified that the RPPSs are not permitted to invest in international markets, even if the vehicle is local.
Local expert: The real impact on cross-border managers of eased international-investment rules in Brazil
December 22, 2014 by
A long-awaited, momentous change came about last week in Brazil, when its securities regulator made it much easier for the affluent to invest internationally via locally-domiciled products. Seeking reaction to the news, Fund Pro Latin America spoke with the longtime manager of a multinational fund firm - a Brazilian native sensitive to the needs and demands of Brazilian investors as well as the competitive environment for global firms. In this wide-ranging, 1,200-word article - what we would consider required reading for cross-border managers - the executive (whose name is revealed in the article) discusses what's really changed with the new regulations, the importance of the changes for cross-border managers, the likelihood of international diversification amongst the affluent, other market sectors that will soon be gaining easier access to international markets, the size of the "new" addressable market in light of these changes, the potential for - and wisdom of - new efforts by players from abroad setting up shop in Brazil, the competitive environment for funds vs. new ETF and depositary-receipt offerings that already provide some access to international markets, and what he considers to be the minimum requirements for success for cross-border firms considering Brazil.
Brazilian fund regulator eases international investment rules, setting stage for wave of cross-border offerings
December 19, 2014 by
The two instructions are seen by the global asset management community as game-changers in their approach to Brazil, since important segment of the onshore market will become addressable - at least after July 1, 2015, when the rules take effect.
CVM has begun drafting new qualified-investor rules
December 10, 2014 by
The Brazilian securities regulator, the Comissão de Valores Mobiliários responded to a request made by the Brazilian Association of Financial and Capital Markets (ANBIMA) and decided that revised regulations governing "suitability" and new definitions concerning qualified investors should enter into force simultaneously.
Brazil’s Bradesco taps Le Grazie to head asset management unit
December 10, 2014 by
Reinaldo Le Grazie replaces Joaquim Levy, who last month was named Brazil's finance minister, as chief executive officer of Bradesco Asset Management.
Bradesco launches Latin American fund based on FTSE smart-beta index
December 10, 2014 by
The Bradesco Global Funds - FTSE Latin America Quality Value Equity fund, a Luxembourg-domiciled Sicav, seeks to add value by selecting stocks from companies in Brazil, Chile, Colombia, Mexico and Peru with reasonable valuations.
BM&F Bovespa and S&P Dow Jones reach landmark index agreement
November 19, 2014 by
New indices being considered are: factor-based indices (e.g. dividend, volatility, and multi-asset), those based on risk control, as well as sector indices, each based upon established and recognized S&P DJI methodologies.
