Bradesco Asset Management plans US funds
Brazilian fund manager set to expand to North America, following European growth
Bradesco Asset Management is set to launch equity and
fixed-income funds in the US in the "next few weeks or months,"
becoming the first LatAm fund manager to set up shop in the US,
its head of international development told
LatinFinance on Tuesday.
|| Photo source: Bryan Pocius
The Brazilian firm has registered a unit with the SEC, and
is in the process of building a distribution platform so that
it can market its funds to US investors. Initially, it will
offer a LatAm equity fund and a LatAm bond fund, the
company’s head of international development Luis
"With these two funds we believe that we will offer the
expertise that we have in Brazil and in Latin America managing
these kind of strategies," he said.
Osorio acknowledged the firm would face stiff competition
from global competitors, but said he was confident the unit
would get a head start as the first fund manager from Latin
America targeting US investors directly. "The US is a huge
market, a lot of global players have similar funds to the ones
we’re offering but not as specific and not with
the expertise that we have in the region … We believe
that this is our main advantage," he said.
BRAM, which had BRL305.3bn of assets under management in
December, has always focused on the Brazilian market. It
started targeting foreign investors interested in the country
in 2007, creating international investment vehicles.