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.
State and municipal pensions barred from investing in local funds with international exposure
January 5, 2015 by
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.
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.
Fitch affirms HSBC Gestão and multimanager unit at ‘Highest Standards’
November 19, 2014 by
Fitch believes that HSBC Gestão's main challenge is to increase participation in higher value-added funds in the face of strong competition, to improve performance of its funds and grow its AUM in an increasingly challenging environment.
Patria Investimentos to open Colombian private-equity shop
October 10, 2014 by
The firm, which is backed by Blackstone, has announced that it will open an office in Colombia and investment of up to USD 500 million.
BNY Mellon announces hiring of Koelle and Salomonde
December 8, 2013 by
Koelle replaced René Boettcher. Salomonde, meanwhile, replaced Zeca Oliveira, one of three executives under the microscope for supposed “irregularities” at the firm. Oliveira and two others were officially dismissed from the company in early December, allegedly in connection with the “irregularities” mentioned above.
Principal buys stake in Claritas
March 23, 2012 by
As part of its long-term strategy to boost its presence in Brazil it will buy a 60% percent indirect ownership stake in the Brazilian mutual fund manager.
JP Morgan Funds strengthen in Latin America
August 7, 2013 by
The creation of a new job to coordinate all sales in the region, filled by Guiuliano de Marchi, combines with the plans to open a distribution office in Colombia.
