June/2016 - Banco Votorantim adopts the Equator Principles
Banco Votorantim has become signatory of the Equator Principles, a risk management framework, adopted by financial institutions, for determining, assessing and managing environmental and social risk in projects and is primarily intended to provide a minimum standard for due diligence to support responsible risk decision-making. The voluntary decision of Banco Votorantim supports the Social and Environmental Sustainability and Responsibility Policy (PSRSA) that guide its activities and operations.
“In adopting the Equator Principles, Banco Votorantim reaffirms the commitment already demonstrated by establishing ethical, transparent and everlasting relationships that make difference and add value were we operate, considering the economic, social, environmental and human aspects in our processes and business”, says João Teixeira, CEO of Banco Votorantim.
The Equator Principles were shaped in October 2002, after a meeting held in London with top business executives to discuss experiences with investments in projects involving social and environmental issues in emerging markets. In the subsequent year, a group of globally banks established the guidelines and policies for the agreement in order to assure sustainability, ecological balance, social impact and prevention of accidents that may impair the projects, also reducing the risk of default.
Achilles Suarez, Director of Corporate & Investment Banking explains that the bank already has a social and environmental risk management implemented on wholesale business and he considers the Equator Principles will reinforce this management on the project finance business. “We believe this social and environmental risk management supported by the implementation and application of the principles add value to our projects, our customers and society. By documenting and managing the risks related to social and environmental issues associated to the project we fund, we improve the relationship with the parties involved and we also strengthen the long-term bonds essential for the construction of socially and environmentally responsible practices and business. This approach is part of the Institution’s view, which has made some adjustments in the processes to meet the sustainability standards established by the agreement”, says Suarez.
Banco Votorantim is the 5th Brazilian bank to become signatory, representing 83 institutions worldwide. “The Bank considers this an advance on its ESG (Environmental, Social and Governance) management processes to adopt the Equator Principles since it is a suitable risk management structure and internationally acknowledged on the social and environmental impact for projects funded by the bank” emphasizes Andre Duarte, Risk Director at Banco.
October/2014 - For the sixth consecutive time, VAM is in the top 10 in the ranking of Best Funds for Institutional Investors
Votorantim Asset Management (VAM) has had nine funds rated as excellent in the ranking of the Best Funds for Institutional Investors produced by the Investidor Institucional magazine and Luz Soluções Financeiras. The magazine’s October issue, which is available in newsstands, also places VAM at a top position for fixed-income products. No less than 602 funds were analyzed and classified in relation to risk vs. return ratios: excellent funds: green; adequate funds: yellow; below-standard funds: red.
The winning funds placed VAM in the Top 10 Assets in the survey’s general ranking. In the Fixed-Income category, Votorantim Asset took the third place with eight excellent funds (green) out of its nine analyzed funds. This is the sixth consecutive time in the last two years that VAM has funds rated as excellent by Investidor Institucional. According to VAM Executive Officer, Sandra Petrovsky, the ranking recurrence reflects the effort and dedication of Votorantim people in developing solutions that meet the specific needs of institutional investors and predict market movements, thereby taking strategic positions to ensure the funds’ profitability.
In an interview to the journal Investidor Institucional, the Executive Officer explains that, in view of the markets’ high volatility, the challenge for VAM was to find assets that would satisfy the wishes of investors seeking more conservative options, such as shorter-term products and private loan assets.
December/2013 - Standard & Poor’s reaffirms VAM's top rating
International rating agency Standard & Poor’s (S&P) reaffirmed the 'AMP-1' Very Strong rating to Votorantim Asset Management for its practices in managing third-party funds. The AMP (Asset Management Practices) rating examines administrative issues and operational procedures, and ranks institutions on a scale from AMP-1 (highest) to AMP-5 (lowest). According to Robert John van Dijk, director of VWM&S, in addition to confirming the quality of processes and services in asset management, the rating also confirms VAM’s focus on a solid, consistent and sustainable in the long-term growth strategy.
This is the third year that Votorantim Asset Management has undergone S&P’s annual review. Since 2011, VAM has reaffirmed the highest rating given by the international agency. In the review, S&P notes that “the AMP-1 rating given to VAM reflects the permanence of a clear corporate strategy, a good variety of products, and the company’s experienced administrative team.” Also according to the release, the rating shows the discipline of its investment management processes, its strong operational and control-related practices, as well as its strong ability to manage risk and good fiduciary principles.
Standard & Poor's considered Votorantim Asset’s operational and technological capacity as very strong. “The asset management company’s operations are well organized and its monitoring is rigorous,” the agency said in a release. S&P also cited the ISO 9001 certification, received in 2011 and recently reaffirmed. The seal was granted after all of VAM’s areas were audited to assure the quality demanded in activities related to Management, Administration, and Distribution of Funds. The ISO 9001:08 certification, delivered by Bureau Veritas Quality International, is valid in Brazil, the United States and Europe.
Gilson Okuda, Manager of Quality and Processes at Votorantim Wealth Management, says that this achievement was a major step in the pursuit of the highest quality of the services provided to customers. Currently, all of VAM’s flows and operating procedures are formalized in manuals, and its policies and procedures are reviewed annually, while promoting stronger transparency in its processes. “These subsidies contribute significantly to the company’s constant improvement and control,” states Okuda.
June/2013 - VAM wins the 2013 Top Management award of Valor Econômico newspaper
Votorantim Asset Management (VAM) has been given the 2013 Top Management award by Valor Econômico newspaper in the "largest companies in the fixed income sector” category. The award was given to the best managers in Brazil's investment fund industry, based on the analysis of the rating agency Standard&Poor's. The result was published on June 18 exclusively in the Valor Investe magazine. A total of twelve managers won awards in the "fixed income", "mixed allocation" and "variable income" categories.
“This award is a major accomplishment and shows that we have been achieving consistent results over time”, said Sandra Petrovsky, VAM’s executive officer, accompanied by Ricardo Rossi, fixed-income investment manager at VAM. The article emphasized the team's efforts toward the integration of strategies. At the time of choosing a private debt security for a fixed-income fund, for example, the variable-income team also gets involved. “There is no point in just having a still photograph of the company; we need to know whether it will be able to pay, and we must know about their cash flow”, stated Sandra.
August/2012 - VAM is highlighted in important categories of Guia Exame de Investimentos 2012
Votorantim Asset Management (VAM) enjoys a prominent position in important categories of GUIA EXAME DE INVESTMENTOS 2012, an investment guide that arrived at newsstands on August 31st. The publication of Revista Exame magazine has been presenting the funds with the highest yields and the best investment opportunities for over a decade now. According to Robert John van Dijk, an executive officer at VAM, the company’s presence in the guide confirms Asset’s consistent and focused performance in search of excellence in the products offered. “We have a specialized team that is able to identify good opportunities and to structure solutions tailored for our customers”, he believes.
In the General Classification of the ranking, Votorantim Asset Management appears in 1st place, considered the Best Manager of Wholesale Funds, and in 3rd place as the “Best Manager in Investment Funds”. In the Investment Fund Categories, VAM comes 1st in Multiativos (Multi-Assets); 3rd in Renda Fixa Ativo (Fixed Income - Asset-Backed); and 4th in Ações Ativo (Equity – Asset-Backed).
May/2012 - Private Bank receives ISO 9001:08 certification
Focused on seeking excellence, Votorantim Private Bank received, in April, the ISO 9001:08 quality certification from Bureau Veritas Certification. The institution audited all Private Bank areas to obtain guarantees for the required quality levels in the activities of Relationships, Asset Management, and Advisory Services for private clients in Brazil.
According to Votorantim Wealth Management & Services' (VWM&S) Director Robert John van Dijk, receiving the certification strengthens Private's mission of being recognized as one of the best asset management firms in Brazil, which establishes close and lasting relationships by providing differentiated solutions that are adequate for the client's profile, in both local and international markets. "That is a fundamental achievement in our journey in search of improvement, and it is decisive for the consolidation of a differentiated position towards our clients", Mr. van Dijk states. "For us, the certification is clearly a differentiation factor and further stimulates us to seek continuous improvement", evaluates Private Bank's Director, Francisco Di Roberto Júnior.
May/2012 - VAM has prize-winning funds in the Investidor Institucional ranking
Votorantim Asset Management (VAM) had eight of its mutual funds rated as Excellent in the Os Melhores Fundos para Institucionais ranking in the Top Asset edition of the April 2012 Investidor Institucional magazine. In addition to the prize-winning funds, VAM was placed among the Top 10 Assets in the overall ranking of 168 asset managers in the domestic market. This is the 29th edition of Top Asset, which lists best performance by mutual funds intended for institutional customers, for the 12-month period ended on December 31, 2011.
This ranking names the best funds in each class and defines them as Excellent based on the Risk/Return ratio. According to the publication, “despite the complex scenario, the volume of assets managed rose above R$2.23 trillion at the year-end, a 5.89% rise over six months and 12.83% in twelve months, pursuant to Top Asset for the second half of 2011.” During this 12-month period, the sum managed by VAM increased by 26% to R$39.8 billion, which raised the latter to 8th place in the ANBIMA ranking of managers.
This is the 4th consecutive time in the last two years that VAM has its mutual funds defined as Excellent by the Investidor Institucional magazine. For Votorantim Wealth Management’s director Robert John van Dijk, the Top 10 award is the result of a coordinated effort by the entire team. “We are all committed to Serve with quality by seeking out the best solutions for investments, with innovative products, applying consistency in performance and in line with the nature of each one of our customers.”
See below the VAM funds classified as Excellent:
FIC VOT PLUS REFERENCIADO DI
FIC VOT FEDERAL REFERENCIADO DI
FIC VOT BANKS FGC RENDA FIXA CRED PRIV
FI VOT ABSOLUTE CBONDS INST RF CRED PRIV
FI VOT INSTITUCIONAL RENDA FIXA CRED PRI
FIC VOT INFLATION RENDA FIXA
FI VOTORANTIM EAGLE MULT CRED PRIV
FI VOT FALCON MULT CRED PRIV
February/2012 - Votorantim Corretora is a full broker in Bovespa and BM&F segments
Votorantim Corretora was awarded the seals of the Operational Qualification Program (PQO) for Bovespa segment. Votorantim was awarded all seals and has consolidated itself as a full broker, with quality certification for all broker operation segments in Bovespa. For the director of Votorantim Corretora, Abraham Weintraub, the certification gives the client more security, as he is now aware that our broker is ready to operate assertively and with professionals who are familiar with the business characteristics. “We also have all BM&F seals, which demonstrate our expertise to operate in both the derivative market and in the stock market,” he says.
During the award ceremony, the President of BMF&FBovespa, Edemir Pinto, emphasized that adherence to the program, which is not mandatory, shows the brokers’ commitment to the excellence of services provided and to the qualification of their professionals. Mr. Pinto added that PQO brings the international quality standard to the brokers in the country. “The results give us conditions to face a more challenging market.”
Overall, 39 brokers are certified in Bovespa segment. Only seven of them, including Votorantim Corretora, were awarded the four qualification seals, each of them with a specific focus. As such, our broker is one of the two brokers that have been awarded all nine qualification seals, four of them in Bovespa segment and five in BM&F segment. Developed by the Stock Exchange, the Operational Qualification Program is intended to certify the quality of services provided by brokers, thus strengthening those companies and contributing to financial and capital market consolidation.
The Home Broker seal identifies the broker that is focused on individuals with a streamlined and combined approach, allowing direct access to negotiation on the internet, including concise and clear information. The Retail Broker seal, in turn, is awarded to institutions operating in the corporate market with structured clients and operations, and focuses on consulting educational service. The Carrying Broker seal identifies the broker that is focused on custody and settlement of operations and must have, especially, adequate financial capacity and efficiency in position and settlement control and risk management. The Execution Broker seal is awarded to institutions focused on professional trading and that offer their clients efficiency in receipt, execution and confirmation of orders. The Agro Broker seal (used only for participants of derivative markets), is related to operations with farming derivatives.
December/2011 - Banco Votorantim ranked in Latin America's Top 10
Banco Votorantim earned an América Economia magazine award as one of Latin America's Top 10 banks. For the last ten years, the magazine has been compiling a list of Latin America's 250 largest banks, with awards for the top ten. Its list of 250 includes 73 other financial institutions operating in Brazil.
The criterion for selecting the Top 250 was "Total Assets", analyzed from June/2010 to June/2011, with Banco Votorantim posting US$ 81.96 billion by the end of that period. América Economia magazine reports that Latin American banks’ total assets rose 33% during this period, and that the region's banks have "decoupled from the global financial industry" due to their "record earnings". "In the same period, these institutions' annual profits climbed 30%, to over US$ 24 billion."
October/2011 - VAM is assigned the highest rating for asset management practices
The international rating agency Standard & Poor’s (S&P) assigned an AMP-1 (very strong) rating to Votorantim Asset Management (VAM) for its third-party asset management practices. The AMP (Asset Management Practices) rating analyzes administrative matters and operational procedures and classifies the institutions on a scale ranging from AMP-1 (highest) to AMP-5 (lowest). This is the first time that VAM has been submitted to that annual worldwide recognized evaluation.
In a press release, S&P explains that the maximum rating “(...) assigned to VAM reflects the company’s strong business profile, the benefits of being part of the Votorantim Group, its highly sound operations and control practices, the expertise of its management team, its well-structured investment management processes, and good fiduciary principles”. S&P says that “VAM's general strategy and its specific objectives are consistent with its assets and the operational structure of investment funds in Brazil”. VAM holds the 9th position in the ANBIMA Fund Management ranking with a total amount of R$34.17 billion of managed assets.
October/2011 - BV Financeira among top people management companies for sixth consecutive year
For the sixth consecutive year, BV Financeira was elected one of the best companies in people management. This ranking, assigned by the consulting firm AonHewitt and disclosed in Valor Carreira magazine (published by Valor Econômico newspaper), evaluates the employees’ level of engagement and motivation and the main HR policies and practices. The survey divides the companies into six categories according to the number of professionals. With a creative and innovative team willing to overcome challenges, BV Financeira ranked third in the 4,001–10,000 employees category.
According to the article in Valor Carreira magazine, BV Financeira’s results in the survey show that “the highest rates of satisfaction include statements of performance, performance management and communication from the immediate supervisors. Taking, for example, the statement ‘my immediate supervisor gives me the necessary support to be successful’, 83% of interviewees agree. Practically the same number of respondents (84%) agrees that their immediate supervisor helps them to understand the objectives of the organization and how their work contributes to the achievement of such objectives”.
October/2011 - VAM achieves the ISO 9001:08 certification
Votorantim Asset Management (VAM) was awarded the ISO 9001:08 quality certification by the Bureau Veritas Quality International institution. All VAM areas were subject to audits to ensure the quality required for activities related to Fund Management, Administration and Distribution. ISO 9001:08 is valid in Brazil, the United States and Europe.
The whole certification process took seven months. During that period, a consulting company was hired to identify aspects to be improved, and employees were trained to act as multipliers of quality practices. Top management, along with managers, established parameters comprising 340 indicators. In addition, action-control software was implanted. Overall, 14 committees were constituted and 75 Standards and Procedures were established and/or reviewed. To allow the process to be understood by everybody, a virtual capacity-building course was developed.
To Robert John van Dijk, Wealth Management & Services director, this is the first step for the implementation of a quality policy. “This is the commitment that the organization makes to all employees towards having effective and efficient management models”, says the director. “This will significantly help us to pursue quality and prompt results, in addition to providing the best solutions for our daily challenges”.
September/2011 - Banco Votorantim - Change of the CEO
Banco Votorantim informs that Mr. Wilson Masao Kuzuhara is leaving his position as CEO of Banco Votorantim. João Roberto Gonçalves Teixeira will succeed him as the new CEO. This change is part of the succession process under the corporate governance of Banco Votorantim.
Wilson Masao Kuzuhara had a key role on the successful run of Banco Votorantim, since its foundation, initially as Brokerage in 1988, through the opening of the commercial bank, in 1991, to become the third largest privately owned institution of the country.
João Roberto Gonçalves Teixeira, 46, has a B. A. and Master's degree in Economics from PUC-RJ and an MBA degree from the London Business School, with a successful career in leadership positions in the Brazilian banking industry. He was the Executive Vice President in charge of the Corporate & Investment Banking and Markets Division and now, as CEO, will continue the successful business strategy of Banco Votorantim.
June/2011 - Votorantim Wealth Management launches a new real estate fund
Votorantim Wealth Management & Services (VWM&S) launched in the market BB Renda Corporativa, a real estate fund with revenue that will be allocated to the purchase of commercial spaces to serve as banking branches for Banco do Brasil. The new fund secured R$159 million and showed demand of R$400 million. This is already the fifth real estate fund developed by VWM&S since last year.
According to Wealth’s Products Superintendent, Reinaldo Lacerda, the market for real estate fund has developed significantly in Brazil and has been attracting more investors. According to data of the Brazilian Securities Commission (CVM), individuals detain 95% of the units of real estate funds in Brazil.
For Reinaldo, this results from two reasons: the tax exemption for this type of investment and the professional management of the funds. “The real estate market grows together with the Brazilian economy and attracts investors. Those who have no experience in this market see the real estate funds as an investment option”, explains Reinaldo. He says that, besides these factors there is the strong cultural component of Brazilians of always having invested in real estate.
Market – With stronger performance in this segment since last year, Votorantim Wealth Management is today the third largest real estate funds manager in Brazil. In this operation, close to five thousand persons have purchased units. In addition to BB Renda Corporativa, Wealth has four other real estate funds - FII BB Vot JHSF, FII Vot Securities, FII Vot Securities II and FII RB Capital.
May/2011 – Votorantim Asset starts to internationalize
Votorantim Asset Management started the process of internationalization in September 2010 on signing a partnership with EMG/Selector, a distributor for funds on the global market and on May 2 launched Selector Brazilian Equities, its first offshore investment fund. The new fund is similar to "Votorantim em Ações" but differs from the local version in following the MSCI Brazil 10/40 benchmark, which is widely used in international markets and complies with allocation limits under the law of Luxembourg, the fund's domicile.
The fund will be managed by VAM and distributed by EMG/Selector, which has a network focusing on emerging and developed markets, with a significant presence in the United States, Europe and Asia. Selector Brazilian Equities is now open as a fund exclusively for non-Brazilian clients.
According to Robert John van Dijk, director of Wealth Management, there are great business opportunities in the international market. “Part of VAM's expected growth will come from the international market," says Robert. The strategy takes into account the significance of the Brazilian market in the world economic context as well as infrastructure investment planned for the 2014 World Cup and the 2016 Olympics, which will be showcasing Brazil. “In this respect, Brazil is a very attractive country for international investors. We have natural reserves, a strong economy with a growing middle class, rising per capita income, and low unemployment”.
April/2011 – Banco Votorantim achieves Deal of the Year award for the second time
In New York last month, Banco Votorantim took the Deal of the Year 2010 award made by Project Finance Magazine, an important publication from Euromoney magazine. Votorantim won the Wind category for financing 50% (R$200 million) of new wind power parks in the State of Ceará as part of a project of the Brazilian company SIIF Énergies. This was the second time Banco Votorantim won the Deal of the year award.
In 2009, the Bank won an award in the Renewables category for financing the 28-megawatt Gargaú wind-power park in the State of Rio de Janeiro. The SIIF Énergies project in Ceará erected four wind power parks generating 210 megawatts.
The Ceará operation followed specific technical standards and compared with similar transactions of the period was the biggest in the sector in Brazil. José Roberto Curan, the Project Finance superintendent in charge of structuring the operation, said the award placed Banco Votorantim on the same footing as major players in the Project Finance segment.
April/2011 – VAM wins "best asset manager" award for fixed income
For the eighth consecutive year, Votorantim Asset Management (VAM) had its excellence recognized by the market. This month, VAM's management team won the "Top Asset Manager 2011" award for best fixed-income management firm. The ranking (*) was compiled by Valor Investe magazine together with Standard & Poor's rating agency. Our asset management firm showed the high quality of its investment processes and its asset management as such by outperforming the respective sector on these aspects.
In the issue of the magazine that features the "Top Asset Manager 2011" the newspaper Valor Econômico also carries the "Star Ranking of Investment Funds", a study of the best investment funds and their managers. VAM's funds in this ranking, two of which were graded four and one was graded five stars, are, respectively, VOTORANTIM AÇÕES (active stocks category), FIA VOTORANTIM VISION (differentiated stocks category) and FIC VOTORANTIM VINTAGE RF CREDITO PRIVADO.
Votorantim Wealth Management's director Robert van Dijk said that the awards reinforced the team's commitment to good management and consistent performance. “The award is very important because it is made by two reputable market institutions. This shows recognition of the work of a dedicated team of specialists," he added. “It is the result of the commitment and effort made by a focused team and a stimulus to continue the pursuit of excellence in management. Once again we are very happy with this accomplishment.”
*The methodology used may be found in the April 5, 2011 issue of Valor Investe magazine. The "Top Asset Manager" awards divide entries into two groups: specialized asset management firms and the largest firms, both defined by number and types of fund covered.