Alliance Capital Forms Argentinean Partnership
December 20, 1999
Alliance Capital Management of New York has formed a partnership with an Argentine investment management firm to offer mutual funds to the Argentinean retail and institutional markets, the company announced last week.
Alliance's new partner is Copernico Capital Partners of Buenos Aires.
The first product offered by the two companies will be the Copernico Alliance Brazil Fixed Income Fund. The new fund will be sub-advised by BCN Alliance Capital Management S.A. of Sao Paulo, Brazil. BCN Allliance Capital Management S.A. is an asset management company jointly owned by Alliance Capital and Banco de Credito Nacional of Sao Paulo.
"Argentina's swift-growing mutual fund market should expand rapidly as Argentinean citizens embrace mutual funds for their retirement savings and as pension funds invest a larger portion of their assets in mutual funds," said Jon Groom, head of Offshore Funds for Alliance, in a statement.