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Brazil asset managers see challenging year for fundraising
January 16, 2014 / 2:07 PM / 4 years ago

Brazil asset managers see challenging year for fundraising

SAO PAULO, Jan 16 (Reuters) - Brazil’s asset management industry faces a challenging year for fundraising in some segments, as higher interest rates and a presidential election in the country as well as the removal of monetary stimulus in the United States make investors skittish, industry group Anbima said on Thursday.

Net fundraising totaled 59.7 billion reais ($25.3 billion) last year, the lowest number in five years and below the historical average since at least 2007, Anbima said in an industry report. In 2012, funds attracted a net 103.1 billion reais.

According to Robert Van Dijk, a vice president at the São Paulo-based group, segments other than retirement funds and private banking may suffer with a “complex scenario” in the market.

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