Fitch Ratings on June 6 affirmed the "proficient" investment management quality rating of Bancoob Distribuidora de Títulos e Valores Mobiliários Ltda..
The outlook is stable.
The rating reflects the asset manager's good investment capabilities and operational characteristics relative to the investment strategies it offers, according to Fitch. It is also based on the asset manager's experienced executive team and a well-defined investment process relative to the complexity of the strategies it manages.
Furthermore, the rating incorporates an adequate control and governance structure as well as solid technological support, Fitch said.
Strong support from the asset manager's shareholder, Banco Cooperativo do Brasil SA, and the robust expansion of its assets under management also factor in the rating.