April 23, 2014
Brazilian fund manager set to expand to North America, following European growth
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 Osorio said.
“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. LF