Brazil’s Rate Cuts Spur Moves to Diversify Although the Brazilian market has been volatile, the asset management industry has been relatively stable over the past year with no changes in rank among the top five.
BB Gestão de Recursos, part of state-owned Banco do Brasil, remains in first place on the Brazil 20, Institutional Investor’s fifth annual ranking of the country’s largest fund managers.
The firm saw its assets under management rise to $242.2 billion as of March 31, up 30 percent from a year earlier.
Itaú Unibanco Asset Management follows in second place, with $175 billion in assets, up 14.1 percent.
Third-place Bradesco Asset Management increased its assets by 10.7 percent in the year, to $136.9 billion.
How The Ranking Was Compiled Institutional Investor’s fifth 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 the institutions filled out themselves. II staff refined these data through follow-up faxes, e-mails and telephone calls. All figures are in millions of dollars, as of March 31 of the given year. Where necessary, values were converted from reais using the exchange rate on the respective date.