Ricciardi will report to Susan Skerritt, Head of Global Transaction Banking Americas and Shahrokh Moinian, Head of Trade Finance and Cash Management Corporates for the Americas. She will be based in São Paulo, Brazil.
Peruvian AFPs ask SBS to consider Latam allocations as “local” investments
December 20, 2013 by
The maneuver would free up another 4% of quota for investing in cross-border instruments domiciled outside of the region.
Fiscal reform takes bite out of tax benefit on pension-plan contributions
December 19, 2013 by
Up until 2013, contributions made by plan sponsors to private pension plans were 100% tax deductible. However, the new fiscal reform reduces the percentage to 53% and potentially just 47%, according to sources consulted by Latin Asset Management.
Chilean AFPs were strong buyers of cross-border mutual funds in November
December 19, 2013 by
Chilean pension funds made over USD 2 billion in new allocations, bringing total non-domestic investment to USD 68.8 billion. Cross-border mutual funds and direct investments in government bonds were the most chosen instruments type to increase positions. Products of Axa, Pioneer, BlackRock, and Invesco benefitted the most from the renewed enthusiasm of the AFPs.
Principal Chile explores shopping offshore fund to local and global investors
December 18, 2013 by
The vehicle is a Latin American equities fund domiciled in Dublin, which will be co-managed by the company’s teams in Brazil, Mexico and Chile, where each will contribute its view on the market and companies in its own country and areas of influence.
Chile: Markets fret over Bachelet’s tax-free savings scheme
December 18, 2013 by
Alarm bells rang in the mutual fund industry because of doubts about what parameters will be used to define the concept of "risk-free." In general, the Bachelet initiative, if enacted, would cause disruption to, or conflict with, many long-established mechanisms already in place to foster savings and investment in the local markets.
Peruvian AFP cross-border limit to be raised to 40% by July 2014
December 16, 2013 by
The Central Bank of Reserve (BCR) increased to 36.5% the limit of AFP investment abroad, which comes into effect from December 15th. But by July 15, 2014, as part of a schedule of gradual increases of 0.5% every 30 days, it will reach 40%.
Italian asset manager Azimut inks deal with Brazilian advisory FutureInvest
December 13, 2013 by
Italy's asset manager Azimut and FuturaInvest Group have signed an agreement to set up a partnership providing financial advisory services in the Brazilian market.
Brazilian pension funds exploring investment in global private equity
December 11, 2013 by
Renê Sanda, chief investment officer of the USD75 billion Previ, said he’d be looking at the efforts of foreign firms to establish ties to Brazil, form partnerships and attract a wider range of investors.
Mexican government proposal would tie part of management fee to performance
December 11, 2013 by
The proposal, which would reward higher-performing Afores with larger fees and punish those poorer performers, was immediately panned by the local pension industry association, the Amafore.
