Latin American market round up: Bradesco teams up with Mitsubishi
Japan’s Mitsubishi UFJ Asset Management Company and Brazil’s Bradesco Asset Management have agreed to set up a mutual fund that will invest in Brazilian bonds.
The fund hopes to tap the growing pool of Japanese retail investors demanding Brazilian real-denominated paper.
The fund’s launch is timely. The Brazilian market is attracting renewed interest from retail investors in both its fixed-income and equity markets since it achieved investment grade earlier in the year. The new fund will be marketed in Japan by fellow Mitsubishi UFJ Financial Group units such as Bank of Tokyo-Mitsubishi UFJ and Mitsubishi UFJ Securities. Bradesco will manage the fund.