Templeton Latin America Fund LU0592650328 31 August 2021
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Templeton Latin America Fund - I LU0229944334 31 August 2021 (Acc) USD
Franklin Templeton Investment Funds Latin America Equity Templeton Latin America Fund - I LU0229944334 31 August 2021 (acc) USD Fund Fact Sheet For Professional Client Use Only. Not for distribution to Retail Clients. Fund Overview Performance Base Currency for Fund USD Performance over 5 Years in Share Class Currency (%) Templeton Latin America Fund I (acc) USD MSCI EM Latin America Index-NR Total Net Assets (USD) 733 million Fund Inception Date 28.02.1991 140 Number of Issuers 36 Benchmark MSCI EM Latin America 120 Index-NR Morningstar Category™ Latin America Equity 100 Summary of Investment Objective The Fund aims to achieve long-term capital appreciation by investing primarily in equity securities of issuers 80 incorporated or having their principal business activities in the Latin American region. 60 Fund Management 08/16 02/17 08/17 02/18 08/18 02/19 08/19 02/20 08/20 02/21 08/21 Gustavo Stenzel, CFA: Brazil Discrete Annual Performance in Share Class Currency (%) 08/20 08/19 08/18 08/17 08/16 Ratings - I (acc) USD 08/21 08/20 08/19 08/18 08/17 I (acc) USD 24.44 -20.38 15.27 -13.58 19.77 Overall Morningstar Rating™: Benchmark in USD 34.73 -23.59 8.86 -11.80 22.63 Asset Allocation Performance in Share Class Currency (%) Cumulative Annualised Since Since 1 Mth 3 Mths 6 Mths YTD 1 Yr 3 Yrs 5 Yrs Incept 3 Yrs 5 Yrs Incept I (acc) USD 0.24 -4.37 10.65 0.19 24.44 14.21 18.21 105.68 4.53 3.40 4.66 Benchmark in USD 0.84 -0.65 16.40 5.33 34.73 12.07 21.22 102.56 3.87 3.92 4.55 % Equity 99.03 Past performance is not an indicator or a guarantee of future performance. -
Comunicado Ao Mercado
GAFISA S.A. CNPJ/MF n 01.545.826/0001-07 NIRE 35.300.147.952 Companhia Aberta COMUNICADO AO MERCADO São Paulo, SP, Brasil, 29 de outubro de 2018 - A GAFISA S.A. (B³: GFSA3; NYSE: GFA) (“Gafisa” ou “Companhia”), nos termos do Art. 30 da Instrução CVM n° 480/09, conforme alterada, comunica ao mercado que na Reunião do Conselho de Administração realizada hoje, foi deliberada a eleição dos membros do Comitê de Auditoria e do Comitê de Governança Corporativa e Remuneração da Companhia, todos com mandato até 11 de maio 2020, conforme abaixo: • Pedro Carvalho de Mello: atualmente, é (i) Professor da ESALQ/USP, coordenador acadêmico dos programas internacionais da FGV/IDE e coordenador do Programa FGV CEO; (ii) membro titular do conselho fiscal da B2W; (iii) membro suplente do conselho fiscal das Lojas Americanas; e (iv) membro fundador do Latin American Shadow Financial Committee (CLAAF). Ocupou os seguinte cargos: (i) membro titular do conselho fiscal do Banco do Brasil, UNIPAR e BNDESPAR, (ii) diretor da CVM, (iii) diretor da BM&F (atual B3), vice-presidente do PNC International Bank (Pittsburgh), (iv) diretor técnico (e pesquisador) do Instituto Brasileiro de Mercado de Capitais, e economista da Planave Projetos, e (v) consultor da A.T.Kearney D. Little e Economist Intelligence Unit. • Mu Hak You: de 2000 até a presente data atua como Diretor Presidente (CEO) da GWI Asset Management S.A. e atuou também como membro do Conselho de Administração das seguintes Companhias: (i) Paraná Banco S.A., (ii) Lojas Americanas S.A., (iii) Eternit S.A. -
Latin American Fund QUARTERLY LETTER | THIRD QUARTER 2019
Latin American Fund QUARTERLY LETTER | THIRD QUARTER 2019 The Latin American Fund aims to achieve capital growth by investing in a concentrated portfolio of high-quality Latin American growth companies. The Fund seeks high absolute returns over the long term and minimises the level of long-term risk by choosing well- capitalised, high-quality investments at reasonable valuations. INTRODUCTION The fund returned -9.9% (net of fees) in the third quarter and -2.6% year-to-date. While we had a setback in Argentina during the quarter we believe the region is entering a multi-year economic upcycle. In particular, Brazil is passing a series of pro- productivity reforms just as it emerges from a bad recession, setting the scene PETER CAWSTON for a prolonged period of strong growth in this top-ten global economy. We think RUPERT BRANDT, CFA Portfolio Manager Portfolio Manager this is positive for the region as a whole and particularly positive for the private sector in Brazil, where the government will deliberately shrink the market share of state-owned companies, allowing the private sector to grow much faster than the economy without taking undue risk. Interest rates at all-time lows in Brazil will stimulate the economy and should drive a reallocation of local assets from fixed income into equities, potentially kicking off Brazil’s first domestically-driven bull market. We have both spent time in Brazil in the past couple of months and for the first time in years the mood on the ground is very positive. At the end of the quarter we had 64.1% invested in Brazil, 16.5% in Peru, 9.7% in Colombia, 4.8% in Chile, 2.7% in Argentina, and 0.8% in Mexico. -
Lojas Americanas S.A. CNPJ/ME N. 33.014.556/0001-96 NIRE 3330002817-0 Americanas S.A. CNPJ/ME N. 00.776.574/0006-60 NIRE 3330029
Lojas Americanas S.A. americanas s.a. CNPJ/ME n. 33.014.556/0001-96 CNPJ/ME n. 00.776.574/0006-60 NIRE 3330002817-0 NIRE 3330029074-5 NOTICE TO SHAREHOLDERS Lojas Americanas S.A. ("Lojas Americanas") and americanas s.a. (new corporate name of B2W – Companhia Digital) ("americanas" and, jointly with Lojas Americanas, the "Companies"), following what was disclosed in the Notice to Shareholders on June 09, 2021 ("Notice to Shareholders"), and in view of the approval of the partial spin-off of Lojas Americanas, followed by the merger of the spun-off portion into americanas ("Partial Spin-off"), in the extraordinary general meetings of both Companies held on the date hereof ("EGMs"), hereby confirm to their shareholders the dates disclosed in the Notice to Shareholders for the events that will follow the Partial Spin-off. Withdrawal Rights ("LAME3 Withdrawal Rights") The shareholders of Lojas Americanas that do not vote in favor of the Partial Spin-Off will be ensured the right not to become shareholders of americanas, by means of reimbursement of the interest they would receive in americanas related to the voting shares they hold in Lojas Americanas, demonstrably and uninterruptedly, since April 28, 2021 (inclusive), without prejudice to their maintaining title to their common shares in Lojas Americanas following the Partial Spin-Off. Shareholders of Lojas Americanas who have acquired common shares after this date will not be entitled to exercise their right to withdraw with regards to these new shares, pursuant to §1 of article 137 of Law No. 6.404/76. The preferred shares of Lojas Americanas fall under the liquidity and dispersion criterion set out in Art. -
Working Paper Series
ISSN 1518-3548 Working Paper Series The Effects of the Brazilian ADRs Program on Domestic Market Efficiency Benjamin Miranda Tabak and Eduardo José Araújo Lima June, 2002 ISSN 1518-3548 CGC 00.038.166/0001-05 Working Paper Series Brasília n. 43 Jun 2002 P. 1-34 Working Paper Series Edited by: Research Department (Depep) (E-mail: [email protected]) Reproduction permitted only if source is stated as follows: Working Paper Series n. 43. Authorized by Ilan Goldfajn (Deputy Governor for Economic Policy). General Control of Subscription: Banco Central do Brasil Demap/Disud/Subip SBS – Quadra 3 – Bloco B – Edifício-Sede – 2º subsolo 70074-900 Brasília – DF – Brazil Phone: (5561) 414-1392 Fax: (5561) 414-3165 The views expressed in this work are those of the authors and do not reflect those of the Banco Central or its members. Although these Working Papers often represent preliminary work, citation of source is required when used or reproduced. As opiniões expressas neste trabalho são exclusivamente do(s) autor(es) e não refletem a visão do Banco Central do Brasil. Ainda que este artigo represente trabalho preliminar, citação da fonte é requerida mesmo quando reproduzido parcialmente. Banco Central do Brasil Information Bureau Address: Secre/Surel/Diate SBS – Quadra 3 – Bloco B Edifício-Sede – 2º subsolo 70074-900 Brasília – DF – Brazil Phones: (5561) 414 (....) 2401, 2402, 2403, 2404, 2405, 2406 DDG: 0800 992345 Fax: (5561) 321-9453 Internet: http://www.bcb.gov.br E-mails: [email protected] [email protected] The Effects of the Brazilian ADRs Program on Domestic Market Efficiency Benjamin Miranda Tabak* Eduardo José Araújo Lima Abstract This paper examines the impact on Brazilian stocks following American Depositary Receipts (ADRs) listing in the U.S. -
Disclosure Ranking of Environmental Impacts of Brazilian Companies: Analysis Using Methods Multicriteria
Disclosure Ranking of Environmental Impacts of Brazilian Companies: Analysis Using Methods Multicriteria Fabricia Silva da Rosa 1 Mara Vogt 2 Larissa Degnhart 2 Nelson Hein 2 Maria Margarete Brizzola 1 1 – Universidade Federal de Santa Catarina – Brazil 2 – Universidade Regional de Blumenau - Brazil Introduction The disclosure of social and environmental data by businesses is considered a dialogue between such businesses and their stakeholders, as the latter demonstrate interest in social and environmental activities developed by the former, which are evidence of businesses’ commitment to satisfying their corporate social responsibility (Lu & Abeysekera, 2014). Therefore, social and environmental disclosure by companies is expected to function as an effective management strategy for developing and maintaining good relations among stakeholders. Research question Objective Based on the use of the Analyzing the ranking of multi-criteria disclosure of methodologies T-ODA environmental impacts by and TOPSIS, what is the Brazilian companies ranking of disclosure of through the multi-criteria environmental impacts methodologies T-ODA and of Brazilian companies? TOPSIS. ENVIRONMENTAL DISCLOSURE The corporate The growing challenges environmental disclosure pertaining to environmental has considerable economic preservation have forced potential, given the scarcity businesses to change their of alternative sources of operational structures, thus information. However, the improving the disclosure of environmental disclosure by their policies, as well as companies is only partially their actions towards the regulated (Ane, 2012), and environment (Trierweiller, it tends to vary considerably Severo Peixe, Bornia & Campos, 2012). from company to company (Rosa et al, 2015). MATERIAL AND METHODS Population: companies belonging to the Brazilian Index 100 (IBr-X100) listed on the BM&FBovespa, constituting a total of 100 enterprises. -
John Hancock Emerging Markets Fund
John Hancock Emerging Markets Fund Quarterly portfolio holdings 5/31/2021 Fund’s investments As of 5-31-21 (unaudited) Shares Value Common stocks 98.2% $200,999,813 (Cost $136,665,998) Australia 0.0% 68,087 MMG, Ltd. (A) 112,000 68,087 Belgium 0.0% 39,744 Titan Cement International SA (A) 1,861 39,744 Brazil 4.2% 8,517,702 AES Brasil Energia SA 14,898 40,592 Aliansce Sonae Shopping Centers SA 3,800 21,896 Alliar Medicos A Frente SA (A) 3,900 8,553 Alupar Investimento SA 7,050 36,713 Ambev SA, ADR 62,009 214,551 Arezzo Industria e Comercio SA 1,094 18,688 Atacadao SA 7,500 31,530 B2W Cia Digital (A) 1,700 19,535 B3 SA - Brasil Bolsa Balcao 90,234 302,644 Banco Bradesco SA 18,310 80,311 Banco BTG Pactual SA 3,588 84,638 Banco do Brasil SA 15,837 101,919 Banco Inter SA 3,300 14,088 Banco Santander Brasil SA 3,800 29,748 BB Seguridade Participacoes SA 8,229 36,932 BR Malls Participacoes SA (A) 28,804 62,453 BR Properties SA 8,524 15,489 BrasilAgro - Company Brasileira de Propriedades Agricolas 2,247 13,581 Braskem SA, ADR (A) 4,563 90,667 BRF SA (A) 18,790 92,838 Camil Alimentos SA 11,340 21,541 CCR SA 34,669 92,199 Centrais Eletricas Brasileiras SA 5,600 46,343 Cia Brasileira de Distribuicao 8,517 63,718 Cia de Locacao das Americas 18,348 93,294 Cia de Saneamento Basico do Estado de Sao Paulo 8,299 63,631 Cia de Saneamento de Minas Gerais-COPASA 4,505 14,816 Cia de Saneamento do Parana 3,000 2,337 Cia de Saneamento do Parana, Unit 8,545 33,283 Cia Energetica de Minas Gerais 8,594 27,209 Cia Hering 4,235 27,141 Cia Paranaense de Energia 3,200 -
ANNUAL REPORT 2015 Worldreginfo - 89A874dc-2Db7-4517-9E22-96F61e512268 TABLE of CONTENTS ABOUT THIS STRATEGY and 03 | REPORT 23 | INVESTMENTS 25 Intangible Assets
ANNUAL REPORT 2015 WorldReginfo - 89a874dc-2db7-4517-9e22-96f61e512268 TABLE OF CONTENTS ABOUT THIS STRATEGY AND 03 | REPORT 23 | INVESTMENTS 25 Intangible assets MESSAGE FROM THE ECONOMIC | CHAIRMAN OF THE BOARD 30 | PERFORMANCE 06 30 Market context 31 Results 37 Capital markets MESSAGE 08 | FROM THE CEO SOCIAL AND 41 | ENVIRONMENTAL PERFORMANCE 42 People 10 | ITAÚSA 44 Society 10 Profile 45 Environment 11 Subsidiaries 14 Itaúsa Presence 15 Ownership structure GRI G4 47 | SUMMARY INDEPENDENT CORPORATE AUDITORS’ LIMITED GOVERNANCE 60 | 17 | ASSURANCE REPORT 20 Risk management 21 Ethical behavior CORPORATE 63 | INFORMATION Annual Report 2015 WorldReginfo - 89a874dc-2db7-4517-9e22-96f61e512268 01 ABOUT THIS REPORT WorldReginfo - 89a874dc-2db7-4517-9e22-96f61e512268 REPORT PROFILE As a way of maintaining a transparent relationship with its stakeholders, Itaúsa – Investimentos Itaú S.A. (Itaúsa) presents its Annual Report 2015, which covers the period between January 1 and December 31, 2015. The report contains the initiatives and achievements for the year and includes information about the economic, social and environmental performance of the four major subsidiaries that make up the holding: Itaú Unibanco Holding S.A. (Itaú Unibanco), Duratex S.A. (Duratex), Elekeiroz S.A. (Elekeiroz) and Itautec S.A.– Itautec Group (Itautec), the results of which are reflected in Itaúsa’s Financial Statements. |GRI G4-28, G4-29, G4-30, G4-17| As from 2009, the report complies with the guidelines of the Global Reporting Initiative (GRI) and, for the third time, uses the G4 version, Comprehensive option, that includes the management approach related to the most relevant DETAILED INFORMATION IS aspects and with greater impact from the perspective of the Company and its stakeholders. -
Pioneer Emerging Markets Equity Fund
Pioneer Emerging Markets Equity Fund Schedule of Investments | December 31, 2020 Class A PEMEX Class C PEMNX Class Y PEMSX Schedule of Investments | 12/31/20 (unaudited) Shares Value UNAFFILIATED ISSUERS - 99.9% COMMON STOCKS - 99.9% of Net Assets Air Freight & Logistics - 0.2% 28,075 Aramex PJSC $ 33,545 Total Air Freight & Logistics $ 33,545 Auto Components - 1.0% 2,564 Hanon Systems $ 38,194 40,000 Xinyi Glass Holdings Ltd. 111,928 Total Auto Components $ 150,122 Automobiles - 1.4% 56,000 Brilliance China Automotive Holdings Ltd. $ 51,091 1,950 Eicher Motors Ltd. 67,544 1,587(a) Kia Motors Corp. 91,263 Total Automobiles $ 209,898 Banks - 11.8% 75,669(a) Alpha Bank AE $ 88,337 13,968 Banco Bradesco S.A. (A.D.R.) 73,472 10,853 Banco Bradesco S.A., Class Preferen 56,845 12,986 Banco do Brasil S.A. 97,912 74,800 Bank Central Asia Tbk PT 180,226 225,000 China Construction Bank Corp., Class H 171,209 8,254 Commercial International Bank Egypt S.A.E 31,045 136 Credicorp, Ltd. 22,307 52,000 CTBC Financial Holding Co., Ltd. 36,496 10,484 First Abu Dhabi Bank PJSC 36,842 8,506(a) Grupo Financiero Banorte S.A.B de CV, Class O 46,866 1,778(a) HDFC Bank, Ltd. (A.D.R.) 128,478 11,237(a) ICICI Bank, Ltd. (A.D.R.) 166,982 8,689(a) ICICI Bank, Ltd. 63,668 15,258 Itausa - Investimentos Itau S.A. 34,747 19,996(a) National Bank of Greece S.A. -
Integrated Report 2018 Contents 06
INTEGRATED REPORT 2018 CONTENTS 06 42 Human capital 01 03 Message from 07 the Management 45 Reputational capital 02 08 06 Introduction 57 Intellectual capital 03 09 09 Itaúsa 64 Materiality 67 Summary of 04 GRI content 75 Independent 20 Value creation auditors' limited assurance report 05 77 Glossary 79 Corporate 27 Financial information capital MESSAGE 01 FROM THE MANAGEMENT We proceed in our pursuit of sustainable value creation to our stockholders and society, attentive to investment opportunities. 3 GRI Message from the Management As a holding company, our challenge is managing capital We have also strengthened the monitoring of the investees’ and investment portfolio efficiently, focused on the sus- performance and endeavored the best efforts so that com- tainable value creation to stakeholders. panies with a consolidated position in our portfolio are able to raise their profitability and efficiency levels and exert- in Due to its relevant weight in our results, Itaú Unibanco creasingly more discipline in the use of capital. remains our greatest asset – and will continue to do so. We are however attentive to other opportunities to Another concern of ours is ensuring that investees are increase our portfolio and bring attractive returns, and aligned with good practices in people management – and for exceeds Itaúsa’s cost of capital. We target well-established this reason we are part of the Personnel Committee, set up companies, with good cash generation, a consistent history at Itaú Unibanco and Duratex, and the People Committee, set of results, preferably that own recognized brands and up at Alpargatas. operate in sectors with low execution and regulatory risks. -
Material Fact —
PETROBRAS DISTRIBUIDORA S.A. CNPJ 34.274.233/0001-02 NIRE 33.3.0001392-0 Public Company Material Fact Join Venture with Lojas Americanas — Rio de Janeiro, February 25th, 2021. Petrobras Distribuidora SA (B3: BRDT3) in compliance with CVM Instruction No. 358, of January 3rd, 2002 and its amendments, and in continuity with the Notice to the Market released on August 30th, 2019, informs to its shareholders and the market in general that on this date entered with LOJAS AMERICANAS (“Americanas”), binding documents to form a partnership to explore the small retail store business, inside and outside gas stations through the “Local” and “BR Mania” store chains. The partnership will be implemented through the creation of a new company, whose share capital will be held by BR Distribuidora and Americanas, both with a 50% interest in this new company which will have its own independent management structure and corporate governance. For this new company, an amount (“Enterprise Value”) under current conditions (“as is”) of up to R$ 995 million was considered, including the contribution of the BR Mania franchise chain and the “Local” stores. In addition, the transaction includes a payment by Americanas of up to R$ 305 million, in the form of an investment in the new company of approximately R$ 252 million and a payment of up to R$ 53 million in variable installments to BR, based on goals performance. BR Distribuidora currently has approximately 1,200 stores in the "BR Mania" format, operated by franchisees, and Americanas has 55 “Local” stores, with its own operation. The “BR Mania” brand will be maintained in the gas station stores, while out-of-gas stores will carry the “Local” brand. -
Corporate Initiatives to Mitigate Climate Change in Brazil: an Analysis of Companies That Joined ICO2 and Brazil GHG Protocol Program
International Journal of Innovation and Research in Educational Sciences Volume 3, Issue 6, ISSN (Online): 2349–5219 Corporate Initiatives to Mitigate Climate Change in Brazil: An Analysis of Companies That Joined ICO2 and Brazil GHG Protocol Program André L. R. de Souza , José C. S. Andrade, Sônia M. S. Gomes, Rita C. S. R. Torres, Juliano A. de Faria Abstract – In this research we aimed at mapping, first case, companies take previous actions in order to analyzing and discussing the corporate initiatives that are reduce and/or eliminate their impacts on climate. In the taken by Brazilian companies which participate in ICO2 and second one, companies tackle a problem insofar as it in Brazil GHG Protocol Program to mitigate climate change. advances, adapting themselves to the scenario. Besides, We carried out an exploratory, documental and companies can take proactive attitudes through actions of bibliographical research in annual sustainable reports, migration with innovation. However, these strategies are carbon emission inventories, CDP questionnaires and official websites; we applied the content analysis technique with a not set in current scenario. qualitative and descriptive approach. The use of Due to stakeholders’ pressure, organizations are international initiatives, Global Pact, Global Reporting constantly asked to show the results of their performance Initiative (GRI) and Carbon Disclosure Project (CDP), through a consistent instrument of communication that stands out as instrument for improvement, implementation meets some requirements: transparency, management of and development of actions to mitigate climate change. We risks, relevancy, reliability, and ethical and moral also noticed alignment of some national initiatives with some responsibility. This information must support sustainable from the international scenario, such as the Corporate and profitable decisions of investment, since it has Sustainability Index and ICO2, based on New York Stock required companies to change their attitudes faced with Exchange.