Finance
Private-Credit Team Doubles, Inflows Surge at Bradesco Unit
- Bank’s asset-management arm to launch new structured fund
- About 90% of the company’s inflows went to credit products
A Banco Bradesco bank branch in Rio de Janeiro, Brazil.
Photographer: Lucas Landau/BloombergThis article is for subscribers only.
Bradesco Asset Management, Brazil’s third-largest fund manager, has doubled its private credit team in the past two years as a booming corporate-debt market helps the industry weather slumping demand for other types of investments.
“Equity and hedge funds are suffering; only credit is growing,” Bruno Funchal, the company’s chief executive officer, said in an interview. Still, he said, monetary policy changes in the US and Brazil could upend the trend.