Brazil’s growing interest in the funds industry of The Bahamas was evident this past Tuesday when more than 40 Brazilian fund managers and investors were in attendance for a Bahamas Breakfast Briefing organized by the Bahamas Financial Service Board (BFSB). The private forum was held in connection with the annual [Brasil Investment Summit]( (BIS) taking place April 17-18 in Sao Paulo.

*“The level of participation in the briefing and the positive feedback we received speaks to the headway we are making in the Brazilian market,”* said Aliya Allen, BFSB’s CEO and Executive Director. *“Our consistent presence at this event and in Brazil generally and the independent efforts by member firms, combined with our recent IOSCO A signatory status, have created real momentum for The Bahamas in this market*.”

Wolfgang Reichenberger from Inventages Whealth Management opened the briefing by welcoming guests in both English and Portuguese and describing why his company chose The Bahamas and continues to favor it as a location for its funds business, company management and individual investors.

Mr. Reichenberger also introduced The Hon. Ryan Pinder, M.P., Minister of Financial Services, who told attendees that he appreciated their interest in better understanding the opportunities of doing business in and with The Bahamas, encouraging all those in attendance to engage with Team Bahamas *“to better understand the synergies and advantages, especially in the context of private banking, wealth planning, and capital structuring.”* He spoke to the comprehensive product and service provider offerings of this preeminent full service financial and business centre – a sovereign nation that boasts a stable democracy, and where political risk is mitigated. The Bahamas, he pointed out, values initiatives related to the development and advancement of physical presence financial services operations, including the attraction of asset managers, investment advisors, and other professional advisory services, and the location of family offices. Indeed, The Bahamas is “open for business” in the evolving financial services sector. He concluded, *“We have an absolute policy commitment by the Government of The Bahamas to advance the industry; and, we have the comprehensive international financial and business offerings for clients looking for sophistication, personal attention, and cooperation between the private sector, regulators and government policymakers.”*

Linda Beidler-D’Aguilar, Graham Thompson & Co., explained why the IOSCO “A” signatory status now enjoyed by this jurisdiction facilitates the use of a Bahamas fund by Brazilian investors to access investments abroad – which more and more High Net Worth Brazilians are doing to diversify their portfolios. *“Since The Bahamas is now a recognized jurisdiction, Brazilians can now utilize the services of a Bahamas-based custodian,”* she said. Ms. Beidler-D’Aguilar also addressed funds regulation in The Bahamas, generally, with particular focus on SMART Funds and Professional Funds.

Tiffany Norris-Pilcher, Ernst & Young Bahamas, was the fourth panel member and briefed participants on the audit requirements for Bahamas-based funds.

BIS is Brazil’s largest and premier investment conference, attracting leading international and Brazilian funds and investors to discuss developments and trends in market regulation, fund strategy, trading and asset allocation.

BFSB is a Gold Sponsor of the BIS 2013, as it has been since the inaugural Investment Summit in 2008.

*Photo Caption: Linda Beidler-D’Aguilar, Minister Ryan Pinder, and BFSB CEO Aliya Allen. Other team members included Wolfgang Reichenberger, Tiffany Norris-Pilcher, Shonalee Munroe (Genesis Fund Services), and Janelle Sands (BFSB)*