Historical series Itaú launches a new FMP (Privatization Mutual Fund) that allows investors to diversify FGTS (Guarantee Fund for Time of Service) resources previously invested in mutual funds
February 15, 2023 – Itaú has launched a new fund called “Itaú Balanceado Ativo FMP-FGTS Carteira Livre”.The fund is aimed at people who have invested FGTS resources in Privatization Mutual Funds (FMPs).
Through this new product, investors can migrate resources that they have already invested in FMPs (that allocate to a single stock) as an alternative. In this way, investors can diversify their portfolio with active management covering fixed and variable income.
“The interesting thing about an FMP is the possibility of using resources from FGTS to purchase the shares of a specific company in search of potentially higher profitability. An FMP is especially attractive considering the inherent volatility of variable income assets and the volatility of variable income, and fully conditioned to the performance of a company. Our product brings together, on the one hand, the possibility FGTS resources already invested in an FMP in an asset with a more diversified and flexible portfolio, in a balanced way,” says Claudio Sanches, Director of Investment and Pension Products at Itaú Unibanco.
Itaú Balanced Active has an investment policy that seeks to keep 55% of its funds in variable income and 45% in fixed income. For the variable portion, the strategy adopted is the same as that of the Asgard fund, managed by Itaú Asset, which seeks to outperform the Ibovespa by capturing high conviction opportunities in companies that are not correctly priced. The strategy is led by a management team that is recognized in the market and has won international awards. For fixed income, the fund combines Itaú Asset’s private credit strategies, which are based on three key pillars of return generation: differentiated credit analysis with research and ratings, access to exclusive placements (“private placements”) and active management.