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From Komfie Manalo, Opalesque Asia:
So most investors are talking about Brazil's economic potential. But are they ready to 'walk the talk'?
This was the challenge posed by George Wachsmann, founding partner at BAWM, a $1bn multi-family office in Brazil, who said that while foreign funds have been more open to Brazil than in the past five years and want to know more about the local economy, the majority of these corporations do not have large positions in Brazilian companies or the local market.
Speaking at the latest Opalesque Brazil Roundtable, Wachsmann said: "They (foreign funds) want to know more about Brazil, and learn more about our economy. They congratulate us for the World Cup, and the Olympic Games; they know that the continent's financial capital is no longer Buenos Aires. So, to an increasing extend, these investors know about our economy and companies, but when you analyze their balance sheets and their holdings, you still don't see large positions in Brazilian companies or the Brazilian market."
His observation was shared by Patrick de Picciotto, a partner at M Square, an independent investment partnership based in Sao Paulo which manages $580m. He said that Brazil is not yet an important allocations for foreign investors and a vast majority of them do not have a dedicated exposure to Brazil yet.
However, de Picciotto assured that t...................... To view our full article Click here
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