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Brazil Fund Funcef to invest in real estate as stocks plunge

Posted on 09 October 2008

From Bloomberg: Funcef, Brazil’s third-biggest pension fund, plans to invest in real estate and infrastructure projects as it considers diversifying away from equities after the Bovespa index’s 37 percent plunge this year.

“We will need to rethink our investments policy for next year,” said Funcef President Carlos Lacerda whose fund manages the equivalent of $14.3 billion.Funcef, the pension fund for workers at state-owned bank Caixa Economica Federal, plans to invest 1.2 billion reais ($504.8 million) in roads, real estate and energy to take advantage of growth in Latin America’s biggest economy….. Full Article: Source


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