Investment Process

Scenario Generation

METHODOLOGY
• Top-down macroeconomic analysis.• Discussion among various areas.• Use of models and evidence to analyze possible deviations.
PARTICIPANTS

• Research and Management

RESULT

• Development of the base macroeconomic scenario

Idea Generation

METHODOLOGY
• Analysis of impact on prices for plausible scenarios• Bottom-up fundamental analysis• Construction of theoretical prices
PARTICIPANTS

• Research and Management

RESULT

• Identification of investment opportunities

Portfolio Construction

METHODOLOGY
• Monitoring of flows, liquidity, and market events• Positioning of agents• Diversification and hedges• Risk-return analysis
PARTICIPANTS

• Management

RESULT

• Portfolio construction