Brazil is the preferred among foreigners, evaluates BlackRock
Valor Econômico 05/26/2009
Even after the strong recovery of the exchange throughout the year - the Ibovespa increased 35.33% in 2009 -, it is not ruled out the possibility of new appreciations. That is the opinion of the director of the American Management Company BlackRock, Will Landers, in charge of the management of more than US$ 3 billion in shares of Brazilian companies. "There is a lot of room for growth between the current 50 thousand and the 70 thousand points achieved an year ago", affirms the manager dedicated to Latin America that comes to Brazil to take part in the 5th Anbid Convention on Investment Funds. The highest score in the close of the stock exchange, of 73.516, took place May 20 last year. For him, is spite of the historical record of foreign investment balance in the stock exchange, there are no signs of interruption of the foreign flow. In 2009 until the 20, R$ 9.8 billion entered the market. Landers says the country was very successful in the crisis test and is currently among the preferred countries by the foreign investors due to the economic foundations of the country.
Even in relation to the Bric countries (Brazil, Russia, India and China), the Brazilian market is in the spotlight. China, compares the manager, has one of the best growths, but a share market that does not protects the minority shareholder and it has no governance. Russia, continues Landers, in spite of being cheap, loses in attractiveness because of political problems and a strong dependence on the oil prices. Lastly, India, is spite of its potential, suffers with the lack of confidence of investors, after the case of accounting fraud of the technology company Satyam. In the background of the preference for Brazil, according to the manager, is a solid economy, with a heated domestic demand, consumers that soon after they resumed their confidence in the job started spending again, well capitalized banks and low dependence on markets like the American.