THE Brasilprev is increasing its bet on multimarket funds and on portfolios managed by third parties, in the midst of greater competition with new players, which offer more flexible products.
The country’s largest private pension administrator, with BRL 328 billion in assets under management, the manager controlled by Bank of Brazil (BAAS3) and the North American company Principal follows the lead, with around 30% of the Marketplace.
However, it has seen more recent players in this sector, such as XP (XP) and BTG Pactual (BPAC11), grow faster in net funding, while exploring regulatory innovations to launch novelties such as investment in assets abroad.
To deal with this market dynamics, Brasilprev added to its shelf 22 multimarket funds, including its own funds and those of 18 independent fund managers.
This year, it also launched 5 products on an open platform with 100% exposure on the stock exchange.
According to the financial director of Brasilprev, Jorge Ricca, the move is part of the strategy launched two years ago to meet the demand for products that offer higher profitability than fixed income, after the Selic has touched the historic low of 2% per year.
According to the executive, the decision had results. “More than 50% of what was raised for supplementary pensions through an open platform in Brazil this year came to Brasilprev,” said Ricca.
The company’s assets under management in this segment reached 13 billion reais this month, a value that includes both new customers and the migration of part of the resources that were in other portfolios.
Ricca explained that the greater demand for third-party funds comes from clients who already know the financial market. The house’s forecast is to go on to offer third-party funds also for business customers.
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Source: Moneytimes
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