Brazilian property most profitable investment for pension fund
Date added: 8th June, 2011 at 10:56
(view all articles from June, 2011)
Categories: Property News
Brazilian property investments were the most profitable part one pension fund's portfolio over the last year.
The Wall Street Journal reported that Caixa de Previdencia dos Funcionarios do Banco do Brasil, otherwise known as Previ, is planning to back more real estate and infrastructure stocks.
In the last 12 months, the pension fund for Banco do Brasil employees saw its property assets increase in value by 25 per cent, president of the organisaiton Ricardo Flores told the news provider.
More real estate will be added to Previ's portfolio in the future, he added, with hotels for sale in Brazil part of the company's focus.
"Brazil's real estate sector will continue to have sustained growth even after the Olympic Games," Mr Flores told the information source.
The value of property assets held by Previ has risen to more than five billion reais (£1.9 billion) over the last 12 months, he said.
Lutetia Capital fund manager Claude Tiramani is also concentrating on Brazilian real estate, according to a recent report by Fund Web.
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