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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Fund Profile/New Launches

Brazil formalizes rules for SWF

Posted on 30 December 2009

From Dow Jones: A year after setting aside 14.1 billion Brazilian reals ($8.2 billion) for establishment of a sovereign wealth fund, Brazil’s government by executive decree Tuesday formalized rules for the fund’s operation.

According to information published in the country’s federal register, investments made by the fund abroad must yield a return equal to or greater than the six-month London interbank offered rate, or Libor. Investments locally must yield the equivalent of Brazil’s TJLP long-term interest rate, currently at 6% annually…………………………………….Full Article: Source

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