Brazil’s National Monetary Council (CMN) has updated the alternatives investment regulation for pension funds. The CNM decreased pension funds’ investment limit in private capital vehicles from 20% to 15% of assets under management, and vetoed any new direct investment in real estate assets.
National Monetary Council
The Brazilian National Monetary Council (Conselho Monetário Nacional “CMN”) has reduced restrictions regarding Brazilian pension funds investing abroad. The main changes include the reduction of the ceiling for purchasing shares of…