ENHANCING BUSINESS AND INVESTMENT OPPORTUNITIES
BETWEEN BRAZIL AND LUXEMBOURG
RIO DE JANEIRO, OCTOBER 18, 2012
This event is organised with the kind support of:
WELCOME
ADDRESS
Paulo Oliveira
CEO, BRAIN
LUXEMBOURG: IDEAL
PARTNER TO EXPAND
THE INTERNATIONAL
BUSINESS OF
BRAZILIAN COMPANIES
Carlo Thelen
Member of the Managing Board, Luxembourg Chamber of
Commerce
LUXEMBOURG,
A GLOBAL HUB FOR
FINANCIAL SERVICES
Fernand Grulms
CEO, Luxembourg for Finance
LUXEMBOURG,
INTERNATIONAL
SERVICE PROVIDER
FOR BRAZILIAN
ENTREPRENEURS
Introduction:
Carlo Thill, Vice Chairman, The Luxembourg Bankers‘ Asssociation
Moderator:
Franciso da Cunha, Director, Deloitte Tax & Consulting
Experts:
José Da Silva, Head of Latin American Markets, BGL BNP Paribas
Guilherme Bezerril, Head of Latin American, SGG
Jean-Philippe Leroy Managing Director, Bradesco Europa SA
Testimonial:
Carlo Panunzi, Vice Chairman of the Board of ArcelorMittal Brasil
Luxembourg, international
service provider for
Brazilian entrepreneurs
SETTING UP A LUXEMBOURG
HEADQUARTER – IT WORKS!
• Jean-Philippe Leroy, Managing Director, Bradesco Europa SA
• Jose Da Silva, Head of Latin American Markets, BGL BNP
Paribas
• Guilherme Bezerril, Head of Latin America, SGG
• Carlo Panunzi, Vice Chairman of the Board of ArcelorMittal
Brasil
7
40% of
European economic added
value is situated whithin a
500 km radius.
(70% whithin 700km)
Frankfurt
30 mins
Amsterdam
350 km
London
45 mins
Berlin
1,5h
Brussels
200 km
Vienna
1h
Paris
2h
Prague
1,5h
Zurich
1h
Milano
1,5h
Lisbon
2h
Madrid
2h
8
WHY BRAZIL IS GOOD FOR LUXEMBOURG
 Growth fundamentals Brazilian
economy
 Internationalisation
ambitions of Brazilian
entrepreneurs
 Luxembourg exports to
Brazil
 A priority for Luxembourg
 Source of inspiration
and strength
 Investments in servicing
capacity of Luxembourg Private
Banks to Brazilian entrepreneurs
 Intercultural fit! - Multicultural
and multilingual services
9
WHY LUXEMBOURG IS GOOD FOR BRAZIL
 Ideal hub and gateway for
investing in and via Europe
 Growing number of multinationals
with European HQs in Luxembourg
 Strong ties with Brazil 2nd FDI partner
 Safe place for investors
 Stock Exchange
specialized in
international bond
listings
 International financial
centre specialized in
cross-border activities
 EU market = 500 M consumers
 Intellectual Property
friendly
 Intercultural fit! - Multicultural
and multilingual services
10
WHY LUXEMBOURG IS GOOD FOR BRAZIL
Specialized in serving the most sophisticated
clients …
WEALTH BANDS IN 7%
TERMS OF ASSETS
Growing importance of Latin American
Investments in Luxembourg …
PB LUXEMBOURG GROWTH MARKETS
8%
41%
9%
5%
100,000 - 250,000 €
250,000 - 500,000 €
5%
23%
Eastern Europe (non-EU)
17%
500,001 - 1,000,000 €
Asia & Asia-Pacific
1,000,001 - 5,000,000 €
14%
5,000,001 - 10,000,000 €
10,000,001 - 20,000,000 €
19%
8%
> 20,000,000 €
Latin America
Middle East
36%
Africa
United States of America
8%
11
BUSINESS SERVICE PLATFORM
12
Wealth
SERVICE OFFERING
TO ENTREPRENEURS AND THEIR FAMILIES
Management
Client sophistication
Wealth
Management
Investment
Investment
Services
Services
Family office
Family office
Succession
planning
Succession planning
Wealth&&corporate
corporatestructuring
structuring
Wealth
Property&&Real
RealEstate
Estate
Property
Tax / retirement
Tax / retirement
Estate
Planning
Estate Planning
Art&&collectibles
collectibles
Art
Philanthropy
Philanthropy
PrivateEquity
Equity
Private
Microfinance/ SRIs
/ SRIs/ Islamic
/ IslamicFinance
Finance
Microfinance
Wealth
Management
Cashmanagement
management
Cash
TradeFinance
Finance
Trade
Corporate/ Investment
/ InvestmentBanking
Banking
Corporate
Direct
Direct
Advisory
Advisory
Tax
Tax
/ retirement
/ retirement
Advisory
Advisory
mgt
mgt
Market
Market
research
research
Brokerage
Brokerage
Pension
Pension
products
products
Investment
Services
Discretionary
Discretionary
mgt
mgt
Insurance
Insurance
solutions
solutions
Investment
Investment
funds
funds
Wealth
Wealth
Structuring
Structuring
Structured
Structured
products
products
SOPARFI
SICAR
SIF
Daily
Daily
Banking
Banking
Services
Services
Property
Property
and
and
personal
personal
credits
credits
Deposit
Deposit
and
and
saving
saving
accounts
Dailyaccounts
Credit
Credit
Cards
Cards Services
Banking
Daily
Daily
banking
banking
offering
offering
Complexity of solutions
13
High quality
health care
system and
solutions
Safest
capital in
the world
International
schools
Language &
mindset –
truly
cosmopolitan
Outstanding
quality of life
14
CONCLUSION
15
LUXEMBOURG, AN
INTERNATIONAL
REGULATED FUND
CENTER: AN
OVERVIEW OF UCITS
AND OTHER VEHICLES
Moderator:
Marc Saluzzi, Chairman, Assoication of the Luxembourg Fund Industry (ALFI)
Experts:
Georges Bock, Managing Partner, KPMG Luxembourg
Rafik Fischer, General Manager- Head of Global Investor Services, KBL European Private
Bankers
Marc Feider, Partner, Allen & Overy Luxembourg
Edouardo Penido, Chairman, IIFA
Distribution impact
FUNDS PRODUCT/REGIME OVERVIEW
UCITS
• Transferable securities only
• Public distribution – EU
Passport
• High level regulation
SIF (Specialized Investment Funds)
• All asset classes
• Qualifying investors only
• Lower level of regulation
• Diversification requirement
AIFMD
UCI Part II
• All asset classes
• Public distribution – no EU
passport
• Medium level regulation
SICAR
• Risk capital only
• Qualifying investors only
• Lower level of regulation
Flexibility
17
LUXEMBOURG FUNDS: THE VEHICLE OF
CHOICE FOR CROSS-BORDER DISTRIBUTION
Luxembourg
market share of
foreign
cross-border
funds registered
for sale
Sweden, 71%
France, 70%
Germany, 67%
Switzerland, 70%
South Korea, 100%
Japan, 61%
Bahrain, 76%
Peru, 64%
Taiwan, 75%
Hong Kong, 73%
Singapore, 71%
Chile, 73%
Luxembourg UCITS distribution market
Source: Global Fund Distribution analysis December 31, 2011.
18
CROSS-BORDER FUNDS:
AN EU SUCCESS STORY
Number of cross-border funds and registrations
Source: Global Fund Distribution analysis December 31, 2011
19
A FULL FLEDGED MARKET
INFRASTRUCTURE…
PSF
324
Stock
exchange
Distributors
6.398 listed
funds
66
Custodians
1. Private Banks
2. Life Insurance
3. Platforms
3 864 funds
€2,300bn
13,000 jobs
344 Management
Companies
144 Fund
Administrators
(including 3rd
party ManCo)
Auditors/
lawyers
Regulator
CSSF
… to support your international ambitions
20
THANK YOU!
WWW.LUXEMBOURGFORFINANCE.LU
21