In his few short weeks with AB, Stein, formerly with BlackRock and Itaú, has been taken aback by the sudden interest in global exposure among Brazilian investors.
Brazilian managers dust off BDR funds to meet clients’ demands for global diversification
Western Asset's Mauricio Lima notes that BDR funds are not subject to new, restrictive regulations on international fund investing, so institutional investors may continue to use them without restriction.
AllianceBernstein sets up in Chile, and keeps partnership with Vision Advisors
Ignacio Fuenzalida, who was heading MFS Investment's efforts in the Andean region, was hired to run AB's newest Latin American office. Alliance will continue using Vision Advisors as a rep firm in a more targeted effort.
Vision Advisors enjoys expansion into new business areas
In addition to a local-fund offering that has grown to USD 80 million, Vision will begin regional distribution of Lansdowne and Cheyne Capital hedge funds. It already represents Templeton, Rogge and AllianceBernstein funds.
XP Investimentos sees opportunities in broadening its platform with international products
XP's Gustavo Pires said conversations with global managers are ongoing, after having added locally-domiciled feeder funds of JP Morgan, Western Asset, AllianceBernstein and Principal Financial's Claritas unit to its platform.