Jun
11
In Brazil, Investors Pay a Premium for Tradition
By
A Banco do Brasil branch in Rio de Janeiro. A division of the bank, BB DTVM, is Brazil’s largest asset manager.CreditPilar Olivares/Reuters
SÃO PAULO, Brazil — Investors in mutual funds in New York and London may complain about the fees they pay, but they are getting no sympathy in Brazil.
Money-market funds with no minimum investment charge an average annual fee of 3.14 percent, according to the Brazilian Financial and Capital Markets Association. Stock market mutual funds sold to retail investors charge an average of 2.13 percent.
That is more than triple the 0.7 percent average fee that stock market mutual funds charge in the United States, according to the Investment Company Institute…
In Brazil, Investors Pay a Premium for Tradition
