Brazil: Investment Funds Industry

The Brazilian Investment Funds Industry

The investment funds industry in Brazil is regulated by Law N^o. 4728/65, which establishes the essential structure of requirements for listing, reimbursement of investors, tariffs and administrational practices. The responsibility for the supervision and discipline of all the funds originally fell to Brazilian Central Bank. But once the CVM was created the latter took over the duties of regulating the funds containing assets yielding variable returns, while the bank retained responsibility for the funds yielding fixed returns. The various categories of investment funds are currently regulated through the Resolutions of the National Monetary Council and disciplined through Circulars issued by the Central Bank and Directives from the CVM.

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Brazil: Macroeconomic Profile

INCOME AND PRODUCTION

Brazil's Gross Domestic Product for 1995 totalled US$632 billion, placing it ninth among the leading nations in the world. Owing to its extensive territory and considerable population, considered in conjunction with a per capita GDP of US$4,051, Brazil offers investors one of the world's most attractive consumer markets.

GDP per capita from 1991 to 1995

** At constant prices (US$ 1,995)
Source: IPEA/ IBGE

The distribution of the GDP according to sectors has undergone few modifications over the last 25 years.

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