‘Promising’ Brazil location for major operation
An Asian investment giant has announced it is set to launch a major operation in "promising" Brazil this year, it has been reported.
Mirae Asset – South Korea’s biggest mutual fund company – hopes to follow up on recent success in India with a move into the South American nation, according to Reuters.
Those looking at property for sale in Brazil could be interested to hear that a major global fund company is also looking at the Latin American country as it suggests it is fit for major investment.
Mi Seob Kim, the firm’s managing director, told the news agency it was awaiting regulatory approvals and plans to send "distribution and marketing teams" to the country before the end of the year.
"Among the emerging markets, Brazil is one of the most promising … recently the Brazilian government allowed local investors to invest in overseas assets, so the Brazil market has tremendous potential," he added.
Meanwhile the country was recently appointed investment grade by international credit agency Fitch Ratings.
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