Best Practices in PPP Financing Latin America - e-Institute - World ...

Day 1 - THIRD SESSION
Between million Quantity %
Over R$ (reais) 50.000 1 0,003
R$ 20.000 to R$ 50.000 2 0,005
R$ 10.000 to R$ 20.000 4 0,011
R$ 1.000 to R$ 10.000 56 0,152
R$ 500 to R$ 1.000 46 0,125
R$ 200 to R$ 500 57 0,154
Under R$ 200 203 0,550
Prepared by: The author.
Table N.4
Distribution of Pension
Fund Assets in Brazil
take economic, financial, regulatory, political and fiscal risks,
among others.
Presently in Brazil there are 39 Pension Funds. The net worth
of these institutions is approximately R$531 billion, and
infrastructure investments amount to nearly R$1,8 billion.
One of the features of pension funds in Brazil is that there are
different fund scales. Most of these funds are small, and only
big pension funds can participate in infrastructure projects,
while medium and small funds should associate with one
another in order to achieve scale.
Mariz mentioned that PFs should observe prudential limits
and diversification rules in order to maintain the principles
of liquidity, solvency, safety and transparency. In accordance
with provisions under the National Monetary Council of
Brazil, pension funds must analyze and monitor investment
risks, and also participate in the identification of investment
opportunities. The Council establishes that it is necessary to
follow-up six types of assets: fixed-interest assets, floating rate,
structured investment, investments abroad, real estate, and
the maximum limits on investments in equity.
Among the different factors restricting major participation
of Brazilian pension funds in infrastructure projects are:
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