Bradesco Asset Management has launched its first global equity fund as it aims to gain a reputation for investing outside its home market of Brazil.
The company, which is best known for Latin America funds, says the new product is aimed at Brazilian investors who want global exposure. It will aim to beat the return of the MSCI World index and will invest in a number of emerging markets which the firm believes are “oversold”.
“Right now, we believe emerging markets offer new opportunities following the adjustment in prices on the back of the Fed tapering,” says Joaquim Levy, chief executive of Bradesco Asset Management. “In particular, we believe Brazil is oversold and is trading at attractive multiples, representing a strong investment opportunity.”
Bradesco Asset Management has $130 billion (€94 billion) under management, making it the third largest investment house in Brazil.
The Bradesco Global Fundo de Investimento Multimercado – IE fund will aim to invest in liquid stocks with the potential for growth and earnings in the mid to long-term.
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