Opalesque Roundtable Series - Brazil 2008
Sign up here for our free Roundtable Scripts - get this unique intelligence by email as Opalesque publishes them:
Brazil-based hedge fund managers, fund of funds and family office believe the country is now getting ahead of the pack compared to its emerging market peers.
Brazil has enough foreign reserves to pay down all the public foreign debt. This is the first time the country is in such a condition. In the last crisis in 1998, China was the only country which had sound fundamentals and they could maneuver their monetary policy to keep the country growing, despite the fact that all of the economies in the region were going down by 10% or 15% in GDP. Managers believe that this time Brazil has exactly the same characteristics.
Opalesque, the world's largest subscription-based publisher covering the alternative investment industry, has once again united leading hedge fund managers and investors in its Brazil Roundtable, which took place Oct. 22nd 2008 at the Sao Paolo office of Bulltick Brokerage, who also sponsored the event.
Highlights from the Opalesque Brazil Roundtable:
Latin America accounts for 8% of the world’s GDP and 8.5% of the world’s population. The majority of Latin American hedge funds are focused on Brazilian markets, where most of the assets and managers are based.
Latin America is still under-represented within the global hedge fund industry. With an estimated US$45bn of assets and 169 hedge fund managers, it represents less than 2% of the total universe. However, contrary to most other hedge fund jurisdictions, Brazil has developed a diverse and well regulated onshore hedge fund industry.
About 75% of the hedge fund assets run by Brazilian managers are in the multimercado funds, the onshore vehicles. According to GFIA, ANBID and Eurekahedge, 87 Brazil based hedge fund firms manage 225 onshore funds with $29,399m of assets. Meanwhile, 43 Brazil based hedge fund firms manage 68 offshore funds with $10,187 m of assets (as of end July 2008).
Strategy breakdown for all (on and offshore) Brazil funds, as of August 2008 in % of assets:
Brazil's hedge industry was really started by the mutual funds industry, which means that a very transparent and regulated industry has been created. Many funds publish the NAV on a daily basis.
The Opalesque Roundtable Series offers unparalleled intelligence on the most important global hedge fund jurisdictions and their players. The Roundtable Series is a free publication from Opalesque and is continually updated. Please scroll down to view the full selection of our Roundtables - covering the globe!
Other Opalesque Roundtables in Brazil
Opalesque Roundtable Series - A Catalogue of Intelligence on Global Hedge Fund Centers: