S&P Global Ratings on March 27 affirmed the AMP-1 (Very Strong) rating attributed to the third-party asset management practices of Bradesco Asset Management SA Distribuidora de Títulos e Valores Mobiliários.
The rating reflects the firm's strong business position as the second-largest asset manager and largest private manager in Brazil, its excellent mix of products and client and its management team with extensive experience and clear corporate strategy, which is aligned with the objectives of the group. It also considers Bradesco Asset Management's very strong practices in relation to operations and controls, disciplined investment management processes, strong fiduciary principles and high consistency of its performance in the variable income segment.
S&P also considers the company's "core" role for parent Banco Bradesco SA.
S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.