Lyxor Asset Management is expanding in the LatAm market with the launch of new operations in Brazil, Chile and in the US offshore segment.
Since 2016, the firm has reached deals with family offices in Brazil which already have offshore structures to access products such as liquid alternatives.
The firm aims to set up feeders in Brazil, bring its alternative products to Chile and onboard broker-dealers serving non-US resident clients, Lyxor’s business development manager for Latin America and US offshore David Isacovici said, local media outlet O Petroleo reports.
In the Andes, Lyxor already offers ETFs to pension funds and has a partnership with LarrainVial for the group to distribute its strategies in Chile, Peru and Colombia. It is now looking to offer liquid alternatives in Chile.
For US offshore, the Paris-based firm signed a deal in July with Pershing to list its Ucits on the platform and is now working with broker-dealers to sign distribution agreements.
There is growing appetite in Latin America for liquid alternatives amid concerns about late-cycle markets, according to Isacovici.
“At the same time, the investments they have traditionally relied on for diversification, which is primarily fixed income and credit certainly in Latin America, may no longer act as a safe haven,” he said.
“As a result, liquid alternatives which they have shied away from in the past are now once again of interest and we have begun to see this in the flows.”
Lyxor had $300m in assets under management in Latin America and US offshore.