Pension funds Previ, Petros and Funcef have set up a working group to study the possibility of reorganizing their investments by industry. In particular, they plan to regroup investments in power and telecommunications. At present they hold significant stakes in Telemar, Brasil Telecom, Telemig Celular, and Amazonia Celular. According to Guilherme Saraiva, president of Funcef, industry-based funds will be created by the end of 2003.
In the long term the initiative won?t be limited to Previ, Petros, and Funcef. They plan to invite BNDES, the national development bank, and international pension funds to join them in specific industries, says Wagner Pinheiro, president of Petros.
Opportunity
Pension funds