We’re continuing our 80-day trip around the world interviewing fund selectors in locations way beyond the major financial centres. Our next stop is one of Latin America’s largest markets which has undergone dramatic changes in recent years: Brazil.
‘Brazil used to be the world champion not only in soccer but in interest rates as well,’ Bruno Brito told me, an executive director and head of fund research for Brazil at BTG Pactual.
What better way to begin a conversation on Latin America’s largest and most attractive market for international asset managers. The past few years have dramatically changed Brazil’s fund industry as bottoming interest rates have allowed fund giants to market new brand new products for the country’s local investors.
Never before have the options for Brazilian investors been so varied.
Brito goes on to share with me how he believes the industry might evolve in the near future what kinds of products clients may demand as well.
Certainly, Brazil’s fund market has no longer been characterized by record-high interest rates in Latin America and rather a developing exposure to the global industry.
Brito also shares with me his outlook on the Brazilian economy and the inevitable impact that the COVID-19 pandemic has wrought not only on the region, but also on the country, where cases have increased substantially throughout the summer.