Swiss private bank Edmond de Rothschild has signed a cooperation agreement with the Brazilian asset manager BBM Investimentos to develop opportunities for asset management.
With this strategic agreement, Edmond de Rothschild and BBM will increase their international business activities to bring more value to their clients and develop their exposure in new markets.
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The first step of this deal will be the launch of two funds domiciled in Brazil, feeder fund Edmond de Rothschild Europe Synergy; a European equity fund managed by Edmond de Rothschild Asset Management (EDRAM).
In the second step, two Groups will consider the creating a Brazilian equity fund, which will be managed by BMM and offered by EDRAM to international institutional clients across the world, excluding the USA.
The first fund will be dedicated to the pension fund while the second will be designed to meet the needs of private clients.
Brazil pension funds represent nearly US$300 billion under management and are authorized to invest up to 10% of their assets in non-Brazilian assets.
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By GlobalDataChristophe de Backer, CEO of the Edmond de Rothschild Group, said: "Our group intends to pursue the development of its activities abroad, namely in South America, where Brazil offers a great potential for our two core businesses."
Pedro Henrique Mariani, CEO of BBM Group, said: "In a new and challenging scenario for Brazilian Investors, where diversification and alpha generation became key factors on portfolio allocation, the values defended by BBM – sustained research-driven investment process, long-established human capital development culture, pragmatic tried-and-tested market experience and advanced risk management culture – becomes more valued by the investors."
