Caixa is preparing to launch an investment fund for the purpose of investing in stimulated infrastructure debentures. The expectation of the bank, according to a press release, is to raise about $241 million.
This is the first fund to be released in the Brazilian market in order to take advantage of the benefits provided by the law that zeroed the rate of income tax on income for individuals, and reduced the corporate taxation to 15%.
Caixa extends term of the housing credit to 35 years. According to the Vice President of Third Party Asset Management of Caixa, Marcos Vasconcelos, the fund is attractive to investors because it is a profitable, low-risk investment, backed by long-term bonds with low risk of default. Moreover, it is an opportunity for the investor to contribute to the financing of the infrastructure sector in Brazil, such as construction and improvement of highways, ports, railroads, airports, telecommunications, sanitation and energy.
FI Desenvolvimento Brasil I is a pioneer in the stimulated debentures industry and will open the way to triple the current issue of debentures, Vasconcelos said in a statement.
With $135.50 billion in assets under management, Caixa is in fourth place in the ranking of managers of investment funds of the Brazilian Association of Financial and Capital Market Entities (Anbima).
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