PENSION FUNDS MAGAZINE - DECEMBER 2021 [Eletrônico] : Time is ripe for "green portfolios" focused on agricultural sector, International allocation faces regulatory constraints, ABRAPP forums discuss industry development, Brazil's multi-pillar pension system [PDF no final da página]
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04 Time is ripe for green portfolios
Brazilian agribusiness private credit market sees emergence of new vehicles, but steep learning curve lies ahead
09 Retirement tripod ensures benefit adequacy
Unlike Latin-American counterparts, Brazil enjoys the fruits of having kept a robust social safety net... Ver mais 04 Time is ripe for green portfolios
Brazilian agribusiness private credit market sees emergence of new vehicles, but steep learning curve lies ahead
09 Retirement tripod ensures benefit adequacy
Unlike Latin-American counterparts, Brazil enjoys the fruits of having kept a robust social safety net and pension pillars that complement one another
12 The 20th anniversary of Complementary Laws 108 and 109
Submitted to parliament, Bill to modernize pension fund legal framework provides for greater security, asset segregation and wider product selection
18 Pre-conditions for industry development
New series of ABRAPP events reaffirms the importance of self-regulation and professional training for sustained governance refinement
21 International allocation faces regulatory constraints
Pension funds are increasingly diversifying abroad; but by doing so, many have approached or surpassed the 10% regulatory cap on foreign assets
24 Timely resolutions and excellence in customer care
In just two years, the revamping of PETROS corporate management model, Brazil’s second largest pension fund, shows impressive results
27 No need for further ESG incentives for now
Study shows that existing regulations are enough to promote sustainable investments but greenwashing is a growing concern
31 Statistical Database Ver menos
Brazilian agribusiness private credit market sees emergence of new vehicles, but steep learning curve lies ahead
09 Retirement tripod ensures benefit adequacy
Unlike Latin-American counterparts, Brazil enjoys the fruits of having kept a robust social safety net... Ver mais 04 Time is ripe for green portfolios
Brazilian agribusiness private credit market sees emergence of new vehicles, but steep learning curve lies ahead
09 Retirement tripod ensures benefit adequacy
Unlike Latin-American counterparts, Brazil enjoys the fruits of having kept a robust social safety net and pension pillars that complement one another
12 The 20th anniversary of Complementary Laws 108 and 109
Submitted to parliament, Bill to modernize pension fund legal framework provides for greater security, asset segregation and wider product selection
18 Pre-conditions for industry development
New series of ABRAPP events reaffirms the importance of self-regulation and professional training for sustained governance refinement
21 International allocation faces regulatory constraints
Pension funds are increasingly diversifying abroad; but by doing so, many have approached or surpassed the 10% regulatory cap on foreign assets
24 Timely resolutions and excellence in customer care
In just two years, the revamping of PETROS corporate management model, Brazil’s second largest pension fund, shows impressive results
27 No need for further ESG incentives for now
Study shows that existing regulations are enough to promote sustainable investments but greenwashing is a growing concern
31 Statistical Database Ver menos
It’s hard to believe that 2022 is just around the corner. Normally, this time of year - up to Carnaval in Brazil - is filled with optimism and excitement. Unfortunately, however, there seems to be a sense of uncertainty in the air, not only due to COVID, but also because of political, economic,...
Ver mais
It’s hard to believe that 2022 is just around the corner. Normally, this time of year - up to Carnaval in Brazil - is filled with optimism and excitement. Unfortunately, however, there seems to be a sense of uncertainty in the air, not only due to COVID, but also because of political, economic, fiscal and social issues facing the country. Like 2021, next year will be a turbulent one as presidential election draws nearer, interest rates and inflation reach new highs and markets become even more volatile.
Since our last English edition six months ago, the Brazilian occupational pension fund industry has dealt with a number these issues, showing resilience in face of challenges. Our top stories dive into some of them.
Amidst political turmoil, legislative agenda was brought into a standstill, leaving much-needed reforms awaiting further debate and approval. This is the case of Complementary Laws 108 and 109, industry’s legal benchmark. Despite being considered adequate after 20 years of existence, specialists agree that some updating could come in handy, especially as competition with personal pension plans intensifies.
The same applies to CMN Resolution nº 4,661, which establishes a 10% regulatory cap on foreign investments. As some pension funds approach or even surpass this limit, more flexibility is required; however, no solution seems to be in sight.
Elsewhere, we assess new investment opportunities, such as the so-called “green portfolios” focused on the agricultural sector. Debt instruments also come up as interesting choices in such unstable and unpredictable contexts, present and future.
Finally, we look at the latest developments in ESG allocations in Brazil while experts talk us through the country’s pension design and how the multi-pillar structure helps us avoid some of the sustainability and adequacy problems faced by neighboring countries.
We wish you happy and safe holidays !
Flavia Silva
Editor in Chief Ver menos
Since our last English edition six months ago, the Brazilian occupational pension fund industry has dealt with a number these issues, showing resilience in face of challenges. Our top stories dive into some of them.
Amidst political turmoil, legislative agenda was brought into a standstill, leaving much-needed reforms awaiting further debate and approval. This is the case of Complementary Laws 108 and 109, industry’s legal benchmark. Despite being considered adequate after 20 years of existence, specialists agree that some updating could come in handy, especially as competition with personal pension plans intensifies.
The same applies to CMN Resolution nº 4,661, which establishes a 10% regulatory cap on foreign investments. As some pension funds approach or even surpass this limit, more flexibility is required; however, no solution seems to be in sight.
Elsewhere, we assess new investment opportunities, such as the so-called “green portfolios” focused on the agricultural sector. Debt instruments also come up as interesting choices in such unstable and unpredictable contexts, present and future.
Finally, we look at the latest developments in ESG allocations in Brazil while experts talk us through the country’s pension design and how the multi-pillar structure helps us avoid some of the sustainability and adequacy problems faced by neighboring countries.
We wish you happy and safe holidays !
Flavia Silva
Editor in Chief Ver menos
SILVA, FLÁVIA PEREIRA DA
Editor
CARRACA, VIRGÍNIA
Diretor Artístico
DINIZ, DÉBORA
Colaborador
CORAZZA, MARTHA ELIZABETH
Colaborador
FÉLIX, PAULA
Tradutor