Brazil funds have until year-end to adopt new classification rules

April 13, 2015 7:23 PM

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SAO PAULO, April 13 (Reuters) - Anbima, a Brazilian group representing investment funds, said on Monday that money managers in the country have until year-end to adapt their investment vehicles to a new industry classification system.

The plan aims to rank asset managers in line with guidelines issued by securities industry watchdog CVM and international standards, Carlos Ambrosio, one of the Anbima executives who worked on the new rankings, said at an event to present the new classification rules.

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