Gustavo Raitzin (photo), currently head of Latin America and Israel for Julius Baer, was named chairman-designee of GPS. The wealth manager nearly doubled its assets under management to USD 6.6 billion in three years.
Julius Baer acquires majority stake in leading independent Brazilian wealth manager GPS
March 28, 2014 by
Leonidas Vial Echeverria resigns as board chairman of LarrainVial
March 28, 2014 by
In a related move, Larrain's local fund management unit, LarrainVial Administradora General de Fondos SA, said it will also replace two LarrainVial board members with independent directors.
Larrain blames Latam-equity-fund redemptions on market pullback
March 28, 2014 by
The market in general has been looking to boost its exposure to developed countries and Europe, a more likely explanation for the wave of redemptions in the Latam product.
LV Asset Management studying new registrations in Luxembourg
March 24, 2014 by
Along with other Chilean asset managers, Larrain doesn't see the point in doing locally-domiciled fund launches when the end client is a regional institutional investor. Registering in Luxembourg seems to make more sense for the additional doors it opens for smaller managers.
Colombian AFPs directed USD 500 million to cross-border ETFs and funds in January, despite market turmoil
March 24, 2014 by
Colombian AFP pension funds added USD 525 million to their positions in cross-border mutual funds and ETFs in January. Purchases were concentrated in equity-oriented products to the USA. Vanguard, Aberdeen, iShares and MFS were among those who benefited from the new inflows.
MFS hires proprietary sales head in Chile to develop business beyond AFPs
March 21, 2014 by
Fuenzalida's major focus will be on developing and expanding MFS's business in the retail segment of that country, namely locally-owned private banks, local brokerage houses and advisories, funds of funds, family offices, multi-family offices and insurance companies.
No surprise: Global allocators shift to a “risk-off” position amid geopolitical uncertainty
March 19, 2014 by
The survey found that sentiment towards global emerging markets is close to reaching a low and that improvement is in sight. The proportion of global asset allocators underweighting emerging-market equities has risen two percentage points month-on-month to a net 31% – a new record low.
Gardener tapped to head up AXA’s newly-formed Institutional Client Group
March 19, 2014 by
Gardener, who was global CIO of Mercer before joining AXA, will lead the development of the firm's offering and approach to institutional clients, including insurance companies, pension funds, and sovereign wealth funds.
Claritas brings to market two funds of international funds
March 19, 2014 by
With an eye on the internationalization process that Brazilian pension funds are reluctantly starting early this 2014, a bunch of local mutual fund managers begin to bring to market locally-domiciled products that focus on cross-border instruments.
Distributors have mixed feelings about SBS change
March 19, 2014 by
Market agents contacted by Fund Pro Latin America said that, with the new rule, the SBS is clearly taking a load off its own shoulders, but at the same time saddling AFPs with the responsibility for due diligence. ETF providers and active managers with well-established relationships are the likely beneficiaries.
