Tracking the Activities of Global Asset Managers in Latin America
Excel workbook detailing, over various time periods, mutual fund industry asset growth by managers. Data as of June 30, 2016.
Companies mentioned in this report: Pellegrini; Galicia Adm. De Fondo; Schroders; Banco do Brasil; Itaú Unibanco; Bradesco; Banchile; Santander; BCI; BBVA Bancomer; Banamex; Credicorp Capital; BBVA Fondos; Scotia Perú; Interfondo; Bancolombia; Bogotá and others.
Fernando Massú, ex CEO of Corpbanca, has taken over as BTG's president, in replacement of Juan Andres Camus. New heads of the fund-management and brokerage arms were also named.
As part of a so-called “footprint rationalization” strategy, Deutsche is closing its Argentine and Mexican operations while trimming by about 50% its staffing in Brazil as it moves trading elsewhere.
The feeder fund will hit the ground running with BRL 35 million (USD 11 million) raised from Brazilian pension funds, said Marc Forster, executive director at Western Asset Mgt. in Sao Paulo.
HSBC led with three mutual funds - two of them fixed-income products and one equity - while BNY Mellon and Lazard followed with two funds each. The list was completed by fund listings from Nordea and GAM, while State Street listed a real-estate ETF from its SPDR family.
“We are focused on building a team worthy of the clients we have the privilege of working with in Chile and across Latin America," said Codie Sanchez-Baker, head of Latin America and US Offshore Distribution at First Trust.
The acquisition of Emerging Global Advisors adds over USD 900 million across a suite of nine emerging-markets-equity ETFs. The ETFs "enhance and complement our actively managed investment capabilities and bring our expertise to a broader set of investors,” said Columbia Threadneedle's Ted Truscott.
Larrain said it made the switch after reviewing several managers, and found that "UBAM was the firm that best fit our investment philosophy, with processes and standards at the maximum level in the European fund industry."
Afore XXI-Banorte's Sergio Mendez says the pension manager will proceed with its plan to launch an Asian equity mandate, first announced by Fund Pro Latin America in March of 2016.
Garcia-Romero joins Citi from JP Morgan Private Bank, where she served as the market manager and investment team leader for the Andes, Central America and Caribbean region.
