BB Gestão de Recursos Extends Lead As Brazil’s Biggest Fund Manager Assets managed by the Brazil 20, Institutional Investor’s exclusive ranking of the country’s largest fund managers, increased by 43.7 percent in 2009, to the equivalent of $704 billion.
BB Gestão de Recursos, the asset management arm of Banco do Brasil, extends its lead at the top of the table, growing its assets by 66.7 percent, to $175.3 billion. Itaú Unibanco comes in second, with $129.1 billion; that represents a 35.3 percent increase over the combined 2008 assets of Itaú and Unibanco.
How the Ranking Was Compiled Institutional Investor's third annual ranking identifies Brazil’s top 20 fund managers by assets. São Paulo–based Researcher Milena Mazzola Moreti compiled the ranking under the guidance of Senior Editor Jane B. Kenney, using data from questionnaires filled out by the institutions themselves. II refined this data through follow-up faxes, e-mails and telephone calls. All figures are in millions of dollars, as of December 31 of the respective year, and where necessary were converted from reais.