Carlos Augusto Bernardo de Vecchi

Itaú USA Asset Management, Inc. (Itaú USA) is a SEC-registered investment advisor and hedge fund manager headquartered in New York City. The firm was founded in 2011 and they are directly owned by ITB Holding Brasil Participações Ltda. and their ultimate parent is Itaú Unibanco Holding SA (BVMF: ITUB4, NYSE: ITUB). Itaú USA provides discretionary and non-discretionary investment advisory and sub-advisory services to funds and institutional clients located or domiciled within or outside of the US.

BNP Paribas Asset Management Brasil Ltda. (BNPPAM) is the Brazilian asset management arm of Banco BNP Paribas Brasil SA, itself a subsidiary of BNP Paribas SA (XP: BNP, ADR: BNPQY) in France. The firm is headquartered in Sao Paulo and was founded in 1998. BNPPAM provides competitive investment options for high-net worth individuals, pension funds, insurance companies and foreign investors.

Far Fator Administração de Recursos Ltda. (FAR) is the asset management subsidiary of Banco Fator SA, ultimately owned by Fator Empreendimentos e Participacoes Ltda. in Brazil.^ Established in 1997, the firm is based in Based in Sao Paulo and develops tailored products for individual and institutional clients including open and closed pension funds, the public sector and insurance companies.

Part of Haitong Securities Co., Ltd., Haitong Securities do Brasil SA CCVM is a financial services company based in São Paulo, Brazil. The Brazilian company offers capital market and financing solutions, as well as corporate governance services. The company has several locations, including headquarters, subsidiaries, and branches throughout the American continent. In recent news, the company successfully completed the issuance of obligations for a corporate sustainability-linked emission and was among the 20 best-placed funds by Morningstar. Carlos José Caetano Guzzo has been the CEO of the company since 2001.

Credit Suisse (Brasil) SA CTVM (Credit Suisse Brazil) is the Brazilian broker/dealer subsidiary of Banco de Investimentos Credit Suisse (Brasil) SA, itself a subsidiary of Credit Suisse Group AG (SWX: CSGN) in Switzerland. The firm was formerly known as Banco de Investimentos Credit Suisse (Brazil). Headquartered in Sao Paulo, Credit Suisse Brazil operates with brokerage and treasury operations, Fixed Income operations (credit and debt restructuring), issuance of shares and bonds, IPO and mergers and acquisitions (M&A).

Banco BBM SA operates as a financial institution. It offers credit facilities to corporate clients and financial advisory services for wealth management of individuals in Brazil. The firm provides structured financial solutions, such as exclusive funds, investment funds; fixed income products, including government bonds and private securities, foreign exchange transactions, loans, structured notes, and derivatives and macroeconomic analysis. The company was founded in 1858 and is headquartered in Rio de Janeiro, Brazil.

Credit Suisse Hedging-Griffo Wealth Management SA (CSHG) is the Brazilian private banking subsidiary of Banco de Investimentos Credit Suisse (Brasil) SA, ultimately held by Zurich-based Credit Suisse Group AG (SWX: CSGN). Formerly known as Hedging-Griffo Corretora de Valores SA, the firm was founded in 2006 when Credit Suisse acquired Hedging-Griffo, an independent asset management and private banking firm. CSHG is headquartered in Sao Paulo and offers a suite of products covering a range of investments from domestic and international equities and bonds to currencies, commodities and interest rate securities.

Part of JPMorgan Chase & Co., JPMorgan CCVM SA is a Brazilian company that provides brokerage services. The company is based in São Paulo, Brazil. The company was founded in 1991. Daniel Darahem has been the CEO of the company since 2020.

Santander Brasil Asset Management DTVM SA (SAM Brasil) is the Brazil-based investment management subsidiary of SAM Brasil Participacoes SA, itself a subsidiary of Santander Asset Management Holdings Ltd. in Great Britain. Formerly known as Santander Banespa Asset Management, the firm was founded in 1968 and is located in São Paulo, where they provide mutual fund and discretionary portfolio management for institutions, pension funds, corporations and private investors. In 2009 the firm absorbed the activities of Banco Real Asset Management. They are a signatory to the UN Principles for Responsible Investment which integrates ESG factors into their investment processes.

Bradesco SA CTVM is the securities brokerage subsidiary of Banco Bradesco BBI SA, itself owned by Banco Bradesco SA (BVMF: BBDC4) in Brazil. Headquartered in Sao Paulo, the firm provides full spectrum of brokerage services specifically tailored for both retail and institutional investors.

Santander CCVM SA is a brokerage firm headquartered in Sao Paulo, Brazil. The firm was founded in 1982 and is a subsidiary of Banco Santander (Brasil) SA (BVMF: SANB3; NYSE: BSBR). Santander provides brokerage services to their clients.

Part of Itaú Unibanco Holding SA, Banco Itaucard SA provides investment advice. The company is based in São Paulo, Brazil. The CEO of the Brazilian company is Márcio de Andrade Schettini.

Itaú Corretora de Valores SA is a brokerage company based in São Paulo, Brazil. Part of Itaú Unibanco Holding SA, Itaú Corretora de Valores SA provides brokerage services. The Brazilian company was founded in 1965 and Leonard Bruno Linnet has been the CEO of the company since 2021.

GAP Gestora de Recursos Ltda. (Gap Asset) is the Brazilian asset management subsidiary of GAH Participacoes Ltda., ultimately held by Prudential Financial Inc. (NYSE: PRU) in the US. The firm was founded in 1996 by Renato Junqueira B. Ribeiro, Emanuel Pereira da Silva and Carlos Camacho. Headquartered in Rio de Janeiro, Gap Asset manages the GAP range of funds including multimarket, equities, fund of funds, private pension plans and hedge funds.

Modal Asset Management Ltda. (Modal AM) is an asset management firm headquartered in Rio de Janeiro, Brazil. The firm was founded in 2002 and is a subsidiary of Banco Modal SA. Modal AM manages a range of investment funds for individual and institutional investors.

BV Distribuidora de Títulos e Valores Mobiliários Ltda. (BV DTVM) is an asset management firm headquartered in headquartered in Sao Paulo, Brazil. The firm was founded in 1999 as Votorantim Capital DTVM Ltda., subsequently became Votorantim Asset Management DTVM Ltda. in 2000 and changed their name to BV Distribuidora de Títulos e Valores Mobiliários Ltda. in 2021. They are a subsidiary of Kartra Participaçoes Ltda., which is owned by Banco Bradesco SA (BVMF: BBDC4). BV DTVM manages the assets of third parties and creates customized financial solutions for a range of clients which includes institutional and corporate investors, private banking clients, distributors, and international funds and investors.

XP Gestão de Recursos Ltda. (XP) is the asset management subsidiary of XP Holding Investimentos SA, ultimately held by XP, Inc. (NASDAQ: XP) in Brazil. The firm was founded in 2006 by Guilherme Benchimol. Headquartered in Rio de Janeiro, XP manages a range of funds for individuals, financial institutions, businesses, family offices and institutional investors.

Schroder Investment Management Brasil Ltda. (Schroder Brazil) is an asset management firm headquartered in São Paulo, Brazil. The firm was founded in 1994 and is owned by Schroder International Holdings Ltd., ultimately held by Schroders Plc (LON: SDR; OTCMKTS: SHNWF) in Great Britain. Schroder Brazil manages local funds for institutional investors, financial institutions and high net worth clients.

Sul América Investimentos DTVM SA (Sul América Investimentos) is the Brazilian asset management subsidiary of Sul América Companhia de Seguro Saude, ultimately held by Sul América SA (SP: SULA11). Established in 1996 as Sul América Investimentos Distribuidora de Títulos e Valores Mobiliários SA, the firm became Sul America Investimentos DTVM SA in 1998. Sul América Investimentos is based in Sao Paulo. The firm has been in a strategic partnership with ING Group since 2002 and provides asset management services such as mutual funds, exclusive funds and managed portfolios to a range of clients including pension funds, insurance companies, financial institutions, family offices, brokers and distributors and high-net worth individuals.

GTI Administracão de Recursos Ltda. is a Brazilian company based in São Paulo, Brazil. and has subsidiaries in Brazil. GTI Administração de Recursos is an independent asset management firm that specializes in equity investment funds. The Brazilian company was founded in 2007 by Gustavo Marini and André Gordon, with André Gordon serving as CEO since then.

XP Investimentos SA provides securities brokerage and financial portfolio management services. Its solutions include financial services, asset management, education and media, insurance and pension services, and technology. The company was founded by Guilherme Dias Fernandes Benchimol and Marcelo Maisonnave in 2001 and is headquartered in Rio de Janeiro, Brazil.

Santander Brasil Gestão de Recursos Ltda. (SBG) is the Brazilian asset management subsidiary of Santander Asset Management Investment Holdings Ltd. in Great Britain. Headquartered in Sao Paulo, SBG was founded in 2008 and offers a diversified range of investment funds, managed portfolios and investment advice to individual, corporate and institutional investors.

BW Gestão de Investimentos Ltda. (BWGI) is the alternative investment management subsidiary of Brasil Warrant Administração de Bens e Empresas SA in Brazil. Headquartered in Sao Paulo, BWGI was founded in 1998 and manages various funds for individual and institutional investors.

Kapitalo Investimentos Ltda. (Kapitalo) is an independent investment management firm headquartered in Sao Paulo, Brazil. The firm was founded by Carlos Woelz and João Carlos Pinho in 2009. Kapitalo manages funds for individual and institutional investors.

Itaú DTVM SA (Itaú DTVM) is the fund management subsidiary of Itaú Unibanco SA, itself a subsidiary of Itaú Unibanco Holding SA (SPSE: ITUB4, ADR: ITUB) in Brazil. Established in 1972, the firm is headquartered in São Paulo and focuses on managing collective investment funds and exclusive and reserved investment funds for individual and institutional clients.

Part of The Goldman Sachs Group, Inc., Goldman Sachs do Brasil Banco Múltiplo SA is a financial services company based in São Paulo, Brazil. The Brazilian parent company, The Goldman Sachs Group, Inc., is a leading investment banking, securities, and investment management firm that serves a substantial and diversified client base. Founded in 2001, the company provides a wide range of financial services, including investment banking, securities, and investment management, to a diverse client base.

Ibiúna Macro Gestão de Recursos Ltda. The company is based in São Paulo, Brazil. Ibiúna Investimentos manages over $35 billion in assets distributed in three funds\: macro, shares, and credit. The Brazilian company believes that initiatives that have a positive impact on society are fundamental in any line of business. The company incorporates investment processes fully into the different assets they operate. The company has the support of an external consultancy specializing in sustainable finances to monitor and measure ex-exit factors for managed portfolios, as well as supporting the integration of these factors with asset analysis and management processes. is a Brazilian independent resource manager that was founded in 2010 by Rodrigo Telles da Rocha Azevedo and Mário Gomes Torós. Mário Gomes Torós has been the CEO since 2010.

UBS Brasil Administradora de Valores Mobiliários Ltda. (UBS Brazil) is the wealth management subsidiary of UBS Brasil Servicos de Assessoria Financeira Ltda., ultimately held by UBS Group AG (SWX: UBSG; NYSE: UBS) in Switzerland. Headquartered in Sao Paulo, UBS Brazil was founded in 2009 and provides a range of wealth management, investment banking and asset management services to private, corporate and institutional clients including official institutions, multilateral entities, public and private pension funds, corporations, financial services firms, family offices and third-party intermediaries.

Gavea Investimentos Ltda. (GIL) is an independent investment management firm headquartered in Rio de Janeiro and was founded in 2003. Formerly known as 3F Administracao De Recursos Ltda., the firm was founded in 2003 by Arminio Fraga and Luiz Henrique Fraga. In 2010, Gavea became a subsidiary of JPMorgan Asset Management, the asset management arm of J.P Morgan Chase & Co. and created a strategic alliance with Highbridge Capital Management, the global alternative asset manager owned by JPMorgan Asset Management. GIL’s activities are focused on hedge funds, private equity funds, equity funds and real estate funds.

Part of Banco Pine SA, Pine Investimentos DTVM Ltda. The company is based in São Paulo, Brazil. is a Brazilian company that provides investment advice. Norberto Nogueira Pinheiro has been the CEO of the company since 2005.

Part of Quasar Investimentos e Participações Ltda., Quasar Asset Management Ltda. The company is based in São Paulo, Brazil. is a fund. The Brazilian company was founded in 2011 by Carlos Alberto Maggioli. Carlos Alberto Maggioli has been the CEO since 2011.

J. Safra Asset Management Ltda. (Safra AM) is an asset management firm headquartered in Sao Paulo, Brazil. The firm was founded in 1968 and is a subsidiary of Sercom Trade Services Ltda., ultimately held by Grupo Safra SA in Brazil. Founded in 1968, Safra AM manages assets for individual and institutional clients.

Verde Asset Management SA (Verde) is the investment management subsidiary of Holding Verde Empreedimentos e Participações SA in Brazil. The firm was founded by Luis Stuhlberger in 2015. Headquartered in Sao Paulo, Verde manages the Verde fund range with different risk levels and strategies.

Sul América Investimentos Gestora de Recursos SA (SulAmérica Investimentos) is the asset management subsidiary of Sul América Investimentos DTVM SA, ultimately held by Rede D'Or São Luiz SA (BVMF: RDOR3) in Brazil. Founded in 2015, the firm is headquartered in Sao Paulo and manages assets for a range of clients such as pension funds, insurers, companies, financial institutions, family offices, brokers, distributors and high-net worth individuals. SulAmérica Investimentos is a signatory to the UN Principles for Responsible Investment (UNPRI) and seeks to incorporate environmental, social and corporate governance matters into their business practices.

XP Advisory Gestão Recursos Ltda. is a company based in São Paulo, Brazil, founded in 2012 by André Elias Vasquez Fadul. Part of XP, Inc., the Brazilian company provides advisory services in the financial sector. The company's website offers access to their Reference Form, Compliance Manual, Code of Ethics and Conduct, and XP's policies.

Part of Absolute Holding Ltda., Absolute Gestão de Investimentos Ltda. is a Brazilian independent resource manager based in São Paulo. Absolute's disciplined culture is reflected in its principles and processes, which prioritize respect for people, time, and clear communication. The Brazilian company has grown its assets under management consistently over time, with a team of professionals who share a significant intercession in macroeconomic and market analysis and management philosophy. Absolute offers several investment strategies, including disciplined macro, shares, arbitrage, and credit. The company provides regulatory documents in compliance with regulatory requirements and maintains transparency in its actions. The company was founded in 2013, and Tiago Sant'Anna has been the CEO since then.

Miles Capital Ltda. is an independent asset management firm headquartered in São Paulo, Brazil. The firm was co-founded by Fabiano Custodio and Albert Munck in 2015. Miles Capital manages assets of individual and institutional clients.

Versa Gestora de Recursos Ltda. is a Brazilian investment management company based in São Paulo. Versa offers a range of funds, including long and short directional funds, a traditional value fund, and a macro fund. The Brazilian company also provides investment advice and insights on topics such as calculating a company's equity and debt costs, volatility, beta, and correlation. Versa's website includes articles on various topics, including politics, economics, and behavioral theory. The private company was founded in 2017, and Luiz Fernando Alves has been the CEO since 2018.

Part of Costanera Management Ltd., CG Investimentos Brazil Ltda. The company is based in São Paulo, Brazil. is a Brazilian company that provides investment advice. The company was founded in 2018. George Kerr has been the CEO of the company since 2018.

Genoa Capital Gestora de Recursos Ltda. is a private company based in São Paulo, Brazil. The Brazilian company's description is currently limited to "genoa capital Genoa Capital". The company was founded in 2019 and Rodrigo Noel has been the CEO of the company since 2020.

Part of Itaú Unibanco Holding SA, Itaú Unibanco Asset Management Ltda. is a financial services company based in São Paulo, Brazil. Itaú Unibanco Asset Management Ltda. provides various financial services, as described in their website. The Brazilian company was founded in 2021 and Carlos Augusto Salamonde has been the CEO of the company since 2021.