Colombia’s DANE (el departamento administrativo national de estadistica) confirmed GDP (producto interno bruto) growth of 4.6% in 2014, despite the price decline for oil. Mining and energy was the drag, shrinking by 0.2%.
Brazil on the other hand has to deal with protests against the government, with Rousseff’s popularity level down to a record 10% after a decade of Brazil on the fast track for growth and international expansion.
LatAm, however, remains high on the list of strategic priorities for the asset management industry, both for the high and ultra-high net worth as well as for the institutional and pension markets.
In addition, the links into Asia, Europe, the US and Canada are growing, both from an investment and distribution perspective.