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BB DTVM seeks to modernize management

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BB DTVM, Banco do Brasil’s asset manager and the largest such company in the country with R$1.5 trillion under management, has always been known for its size, but also for being slower in the process of product sophistication. However, a set of measures is being taken under the management of Aroldo Medeiros, CEO of the asset management firm since December 2020, in the sense of modernization, with the aim of putting BB DTVM at the same level of other large management companies considered to be cutting edge."The phase in that the retail investor liked DI [interbank deposit] funds and passive fixed-income funds is over. The small investor is more informed every day and wants different products, and we are following this movement, with new products and an active management," Mr. Medeiros told Valor Investe. He has been with Banco do Brasil for 38 years and, a year and a half ago, took over as BB DTVM’s CEO, replacing Carlos André, currently the CEO of Santander’s asset manager.One of the fronts of this modernization drive is the various partnerships being made, both in the management and distribution of funds, as well as in the attraction of clients. In the distribution area, the company is currently selling its funds on 16 investment platforms and has recently closed an agreement with four independent financial advisers with client portfolios specialized in pension funds.There are also partnerships with international asset managers, with whom BB DTVM has mirror funds, and, according to Mr. Medeiros, new agreements with foreign asset managers are expected to be announced soon. "We want to offer the best to our clients, here in Brazil or abroad, whether they are managed by us or by third parties," Mr. Medeiros said.As for management itself, BB DTVM is structuring new areas exactly in order to be able to analyze and, therefore, place increasingly sophisticated assets into the portfolios.The asset manager has set up an active fixed-income analysis and operations desk with the aim of buying securities that offer returns well above the interbank benchmark rate CDI. And, more recently, it has structured an analysis desk for riskier and more volatile securities (known in the market as high alpha) and another for quantitative...

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