Meeting with pension funds demonstrates the importance of concerted efforts among professional investors
On April 19, the Fundação Petros played host to the meeting organized by the Brazilian Association of Capital Market Investors – Amec – with professionals from the pension funds segment in the city of Rio de Janeiro. In addition to Petros, representatives from the country’s largest pension funds, such as Previ, Valia and Fundação Atlântico, also participated in the event.
“We need to join forces to enhance our governance structures. After all, we – independent managers, bankers and pension fund managers – are all institutional investors and able to channel efforts towards concerted goals,” evaluates Régis Abreu, Amec’s Vice President and partner at Tagus.
In Abreu’s opinion, the fact that Amec is getting closer to the Brazilian Association of Pension Funds (Abrapp) and its members is an “important and timely” initiative as real deficiencies in the companies’ governance structures demonstrate the need of joint efforts. “Pension funds are relevant managers of long-term positions. They represent participants that do not have the same mobility offered by an investment fund,” he explains.
In the beginning of April, a similar meeting was held in the State of Santa Catarina. Petros and Mercaprev (fund sponsored by multiple associations in the financial and capital markets) are Amec’s members and the pension funds Funcef and Fundação Cesp are signatories of the Amec Stewardship Code.