Brazil asset managers have worst fundraising year since 2007

October 7, 2014 3:46 PM

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SAO PAULO Oct 7 (Reuters) - Asset managers in Brazil raised the lowest amount of money from investors in the first nine months since at least 2007, a sign that the impact of this month's presidential election, high borrowing costs and global market turmoil are spooking market participants.

Pension funds, asset management firms and other specialized money managers raised a net 31.37 billion reais ($13.1 billion) from investors in the January-through-September period, Anbima, the group that represents funds and investment banks in the country, said on Tuesday. The number is half the ave...

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