Fitch: Another Turbulent Year Ahead for Brazilian Asset Managers

SAO PAULO & NEW YORK--()--Recent regulatory changes, overall market volatility, low growth of assets under management (AUM), and greater flexibility to invest abroad should keep Brazilian asset managers alert in the year ahead, says Fitch Ratings in a special report about the trends of the industry for 2016.

The deterioration of investor's expectations regarding the Brazilian economy will likely contribute to continued volatility over the short term. Consequently, Fitch expects 2016 to be a continuation of the very challenging environment for Brazilian asset managers.

In 2015, the Brazilian Securities and Exchange Commission (CVM) updated the Brazilian fund industry regulatory framework. A few changes were readily incorporated by the participants and have already changed the industry landscape in a meaningful way. However, other measures still generate uncertainties and are likely to lead to intense discussions during the adjustment period, which goes until June 30, 2016.

The report 'Brazil Asset Managers Face More Uncertainty and Changes in 2016,' published Dec. 17, 2015, and available at www.fitchratings.com.br and www.fitchratings.com, summarizes these developments, among others, that Fitch considers relevant for the Brazilian asset management industry in 2016. The Brazilian asset management industry maintained AUM of BRL2.9 trillion as reported by the Brazilian Association of Financial and Capital Markets (Anbima) in October 2015.

Additional information is available on www.fitchratings.com or 'www.fitchratings.com.br'

Brazil Asset Managers Face More Uncertainty and Changes in 2016
https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=875054

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Contacts

Fitch Ratings
Alexandre Yamashiro, CAIA, +55-11 4504-2606
Director
Fitch Ratings Brasil Ltda.
Alameda Santos, 700 - 7th floor
Cerqueira Cesar
Sao Paulo - SP - CEP: 01418-100
or
Pedro Gomes, +55-11 4504-2604
Director
or
Tiago Carrara, +55-11 4504-2217
Associate Director
or
Davie R. Rodriguez, CFA, +1-212 908-0386
Senior director
or
Media Relations:
Elizabeth Fogerty, +1-212-908-0526
New York
elizabeth.fogerty@fitchratings.com

Contacts

Fitch Ratings
Alexandre Yamashiro, CAIA, +55-11 4504-2606
Director
Fitch Ratings Brasil Ltda.
Alameda Santos, 700 - 7th floor
Cerqueira Cesar
Sao Paulo - SP - CEP: 01418-100
or
Pedro Gomes, +55-11 4504-2604
Director
or
Tiago Carrara, +55-11 4504-2217
Associate Director
or
Davie R. Rodriguez, CFA, +1-212 908-0386
Senior director
or
Media Relations:
Elizabeth Fogerty, +1-212-908-0526
New York
elizabeth.fogerty@fitchratings.com