Fund manager "optimistic" about Brazilian property
Date added: 8th February, 2011 at 09:38
(view all articles from February, 2011)
Categories: Economy, Property News
One fund manager has said they are hopeful about the performance of Brazilian property.
Talking to Bloomberg, Mirela Rappaport of Investport in Sao Paulo, said: "We continue to be pretty optimistic on real estate."
The fund manager, who helps take charge of around 160 million reais (£59 million), spoke to the news provider yesterday (February 7th), as the country's Bovespa stock index added 0.1 per cent to reach 65,362.04 by 15:15 New York time.
Consumer goods companies were some of those raising the benchmark, including tobacco company Souza Cruz.
Meanwhile, economists lowered their inflation forecast for the country, saying consumer prices will grow by 4.61 per cent in 2012, the information source reported.
Ms Rappaport said of the Brazilian property market: "We're going through a period that may last a while, in which there will be lots of portfolio rotations in Brazil."
Speculator Michael K Dawson recently wrote that he once bought into a fund that backed Brazilian property and found it outperformed other vehicles for investment in Brazil.
For anyone wishing to invest in the full potential of Brazil, Property Bond Brazil has an excellent array of Brazilian property.
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