Tue, Nov 21, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Brazilian investors prefer to invest their money offshore through local managers

Monday, January 06, 2014

Komfie Manalo, Opalesque Asia:

Brazilian hedge fund managers are wary of Corralito-type regulations and have become so sceptical about the future of Brazil that they invest offshore to protect their investments, said George Wachsmann, a partner with GPS Investments, the largest independent wealth manager in Latin America, during the recent Opalesque Brazil Roundtable .

"They (local fund managers) are afraid of a Corralito type regulation here in Brazil, so they want to send money offshore so as not to be cut in the middle," Wachsmann said.

Corralito is the informal name given to the economic measures taken in Argentina at the end of 2001 by Minister of Economy Domingo Cavallo in order to stop a bank run, and which were fully in force for one year. The measures almost completely froze bank accounts and forbade withdrawals from U.S. dollar-denominated accounts.

Wachsmann added that feeder structure would be a smart choice because it would bring money to a master fund locally that he believed will not taxed in Brazil.

He went on to say, "I think that interest from the managers' side in setting up offshore structures exists and is growing, but the more pressing and tangible demand is coming from Brazilian investors who want to invest their money offshore, and not just in funds. In other words, there is not ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Middle East - Saudi-Iran war would create this domino effect of global disaster, Saudi billionaires said to move funds from region to escape asset freeze[more]

    Saudi-Iran war would create this domino effect of global disaster From CNBC.com: Events appear to be spinning out of control in the Middle East, and the threat a Saudi-Iranian war is looking increasingly credible. Make no mistake, an out and out conflict between the two nations would be

  2. Launches - Eaton Vance, Oaktree to launch diversified credit NextShares fund, FIM launches Nordic AI-powered fund[more]

    Eaton Vance, Oaktree to launch diversified credit NextShares fund Eaton Vance Management, a subsidiary of Eaton Vance Corp., announced the expected mid-November launch of Eaton Vance Oaktree Diversified Credit NextShares, a new Eaton Vance-sponsored exchange-traded managed fund. Eaton Va

  3. Outlook - Gundlach's stock market warning comes true[more]

    From Bloomberg.com: Jeffrey Gundlach has been warning something's got to give. Based on the past two days, looks like we have our answer. Stocks fell around the world a second day and high-yield bonds headed for a fourth straight loss, resuming a historic correlation that the hedge fund manager on W

  4. Investing - Six more Warren Buffett buys, including Southwest Airlines, Seth Klarman's Baupost Group bets on beaten-up health care, Roark Capital offers to buy Buffalo Wild Wings: Wall Street Journal[more]

    Six more Warren Buffett buys, including Southwest Airlines From Forbes.com: Our latest recommendation for aggressive investors is Restaurant Brands International . Hedge fund manager Bill Ackman has an incredible 40.1% of his fund at Pershing Square Capital Management invested in Restaur

  5. Investing - Tages Capital steps in to rescue Italy's Banca Carige, Hedge funds place $5.4bn bet on Toshiba's resurrection, Why outside investors are fleeing: John Paulson's 6 worst investments[more]

    Tages Capital steps in to rescue Italy's Banca Carige From TheTimes.co.uk: A little known London hedge fund has played a pivotal role in the first rescue of an Italian bank without state intervention since the country's bad debt crisis started three years ago. Banca Carige, a Genovese le