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Alternative Market Briefing

Brazilian asset managers bullish on domestic fund industry

Friday, November 16, 2012

Bailey McCann, Opalesque New York: Brazilian asset managers are working to attract twice as many investors onshore as offshore into the domestic fund industry according to a recent survey at the annual DMS Offshore Investment Funds Summit in São Paulo, Brazil. Of the 33 asset managers surveyed, 75% said they seek to raise capital outside of Latin America, even as less than half indicated having the infrastructure necessary to do so. Given the lack of offshore products, DMS anticipates the percentage of Brazil managers setting up offshore funds may increase up to 50% in 2013.

DMS Offshore Investment Services is a global fund governance firm currently representing leading investment funds with assets under management exceeding $270bn. The firm conducted the survey as part of its annual summit in an effort to understand how managers perceive the current investment environment in-country. The majority of survey respondents remain bullish on the Brazil fund market, predicting growth between 10-15% in 2013, which significantly outpaces anticipated economic growth.

Equities dominate Brazil’s offshore fund strategies, with 41% of managers reporting that they manage an equity strategy. Fixed income ranks second, with about a quarter of managers reporting fixed-income strategies. Other strategies employed by this same group include currencies, private equity and real estate, with a small smattering of other strategies.

The growth predictions by these managers are notabl......................

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