Itau Plans Two Funds with Daiwa

Itau Plans Two Funds with Daiwa

Asia

Japan’s Daiwa Securities and Itau Securities plan to set up two new mutual funds aimed at LatAm. Itau will advise and manage the funds, each expected to be at least $500m in size, say executives at the Brazilian firm. One fund will be geared towards LatAm equities and the other will be specifically for Brazil fixed income. Itau, which has had an office in Tokyo since 2004, already manages a Brazil fund for Nikko Asset Management, also in Japan, which could reach up to $500m by year-end. Daiwa sa

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