The Tribune

More than 40 Brazilian fund managers and investors have attended a Bahamas Breakfast Briefing organised by the Bahamas Financial Service Board (BFSB) to coincide with last week’s Brasil Investment Summit (BIS) in Sao Paulo.

“The level of participation in the briefing and the positive feedback we received speaks to the headway we are making in the Brazilian market,” said Aliya Allen, BFSB’s chief executive and executive director.

“Our consistent presence at this event, and in Brazil generally, and the independent efforts by member firms, combined with our recent IOSCO A signatory status, have created real momentum for the Bahamas in this market.”

Wolfgang Reichenberger, from Inventages Whealth Management, opened the briefing by welcoming guests in both English and Portuguese, describing why his company chose the Bahamas and continues to favour it as a location for its funds business, company management and individual investors.

Mr Reichenberger also introduced Ryan Pinder, minister of financial aervices, who told attendees: “We have an absolute policy commitment by the Government of Tthe Bahamas to advance the industry, and we have the comprehensive international financial and business offerings for clients looking for sophistication, personal attention and co-operation between the private sector, regulators and government policymakers.”

Linda Beidler-D’Aguilar, a Graham Thompson & Company attorney, explained why the IOSCO ‘A’ signatory status now enjoyed by this jurisdiction facilitates the use of a Bahamas fund by Brazilian investors to access investments abroad.

“Since the Bahamas is now a recognized jurisdiction, Brazilians can now utilise the services of a Bahamas-based custodian,” she said.

Tiffany Norris-Pilcher, of Ernst & Young Bahamas, was the fourth panel member and briefed participants on the audit requirements for Bahamas-based funds.

BIS is Brazil’s largest and premier investment conference, attracting leading international and Brazilian funds and investors to discuss developments and trends in market regulation, fund strategy, trading and asset allocation.

BFSB was a Gold Sponsor of BIS 2013, as it has been since the inaugural Investment Summit in 2008.