Decisions are taken twice monthly, and tactical asset allocations are based on BCV's macroeconomic scenario. We allocate investments between asset classes on the basis of a top-down analysis. The investment approach is then harmonized using model portfolios. We use the core-satellite technique to control deviations from the benchmark investment universe and limit risk, making particular use of decorrelated management styles. Our high-quality operational structure means that the portfolios we manage show limited dispersion of returns.
Risk management and transparency are central to our investment process. We are looking to achieve stable long-term returns through a combination of investment techniques.
Fernando Martins Da Silva, Head of Investment Policy at BCV