Sovereign Fund of Brazil

Sovereign Fund of Brazil

Brazil US$ 5.3 Billion
Established: 2008
Transparency Rating: 9
View Sovereign Fund Transaction Data
View Asset Allocation		 Origin: Non-Commodity
Firm Investment Style: Mixed
Entity Structure: Fund
Population Est.: 201 million – 2013
Wealth Per Capita Est.: $26
Summary
The Fundo Soberano do Brasil (FSB) was created by Brazilian Law 11,887/2008 on December 24, 2008.

Background
On December 30, 2008 R$ 14,243,999,592.36 was allocated to the Fundo Soberano do Brasil through an issuance of 10,201,373 domestic bonds issued by Brazil’s National Treasury. On that date, FSB invested the full amount in the Fundo Fiscal de Investimento e Estabilização (Fiscal Fund for Investment and Stabilization) – FFIE, according to the Law 11,887/2008. The FFIE is a mutual fund that is registered at the Securities and Exchange Commission of Brazil (Comissão de Valores Mobiliários – CVM) which has the FSB as its exclusive investor.

 Strategy & Objectives
The fund’s objectives are promoting investments in Brazil and overseas, generating public savings, mitigating the effects of economic cycles, and fostering strategic development projects at home and overseas.

Governance
The Deliberative Council of the FSB – CDFSB, which is composed of the Minister of Finance, the Minister of Planning, Budget and Management, and the Chairman of the Central Bank of Brazil – BCB, is responsible for approving the general guidelines and goals of FSB’s investments, while the Brazilian National Treasury is responsible for operating the FSB, as established by Decree 7,055/2009.

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