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Bahia AM Renda Variavel Ltda. -- Moody's eleva a Avaliação de Qualidade de Gestor de Investimentos da Bahia AM Renda Variável e da Bahia AM Renda Fixa para MQ1

·11 min read

Announcement: Moody's eleva a Avaliação de Qualidade de Gestor de Investimentos da Bahia AM Renda Variável e da Bahia AM Renda Fixa para MQ1

Global Credit Research - 25 Jan 2021

Sao Paulo, January 25, 2021 -- A Moody's América Latina elevou as Avaliações de Qualidade de Gestor de Investimentos da Bahia AM Renda Variável Ltda. e da Bahia AM Renda Fixa Ltda. (ambas sob a marca Bahia Asset Management) para MQ1 de MQ2. A avaliação MQ1 reflete a opinião da Moody's de que a gestora de recursos tem características de gestão excelentes. O Bahia Asset Management é uma gestora de recursos independente; em dezembro de 2020 o total de ativos sob gestão (AUM) atingiu R$19,3 bilhões (US$3,7 bilhões).

FUNDAMENTO DA AVALIAÇÃO

A avaliação MQ1 reflete: (i) as melhorias contínuas nas atividades de gestão por meio de investimentos em controles e sistemas, (ii) o sólido desempenho ajustado ao risco de seus fundos no longo prazo em relação aos seus benchmarks, (iii) o crescimento expressivo do total de ativos sob gestão e (iv) a baixa rotatividade de funcionários nos últimos anos. A avaliação MQ1 do Bahia Asset Management também reflete a robustez de seus processos e diretrizes de risco assim como o alto nível de qualificação e expertise de sua equipe de profissionais. A Moody's considera que os maiores desafios da gestora são: (i) continuar crescendo em um ambiente de negócios competitivo, (ii) manutenção de sua equipe de profissionais altamente qualificados e (iii) melhorar o retorno ajustado ao risco de seus fundos.

O Bahia Asset Management teve um forte crescimento de AUM ao longo dos anos, e um desempenho financeiro sólido resultando em uma retenção de lucros. O volume de ativos sob gestão mais que triplicou nos últimos anos, apesar de condições de mercado desafiadoras durante o período.

A Moody's considera que a flexibilidade financeira do Bahia Asset Management melhorou dado seu crescimento expressivo de AUM, mas continua limitado por seu tamanho modesto em uma pespectiva global. A gestora de recursos está em operação desde 2011 e tem sido capaz de investir em sua infraestrutura e de contratar profissionais para manter boas práticas de gestão de investimentos.

Em relação ao desempenho dos fundos de investimentos do Bahia Asset Management, a Moody's observou que os fundos da gestora têm atingido seus objetivos de risco e retorno e superado seus benchmarks. No agregado, a Moody's considera os resultados de investimentos da gestora como sólidos e em linha com a sua avaliação MQ1.

A avaliação MQ1 do Bahia Asset Management sofreria pressão negativa se: (i) o desempenho ajustado ao risco se deteriorar em relação aos benchmarks e pares, (ii) os fundos experimentarem uma queda substancial dos ativos sob gestão, e (iii) houver desvios significativos no provesso de investimentos, aumentando a exposição a riscos operacionais.

Sediada em Rio de Janeiro, Brasil, o Bahia Asset Management é uma gestora de recursos independente e especializada em ações, commodities e derivativos. Em 31 de dezembro de 2020, o total de ativos sob gestão da gestora atingiu R$19,3 bilhões (US$3,7 bilhões).

A metodologia usada nestes ratings foi Avaliações de Qualidade de Gestor de Investimentos de Gestoras de Recursos (Investment Manager Quality Assessments of Asset Managers), publicada em Dezembro de 2019 e disponível em https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1177536. Como alternativa, consulte a página de Metodologias de Rating em www.moodys.com.br para obter uma cópia destas metodologias.

Consulte o www.moodys.com.br para atualizações e alterações relacionadas ao analista líder e à entidade legal da Moody's que atribuiu o rating.

This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.

Diego Kashiwakura, CFA Vice President - Senior Analyst Financial Institutions Group Moody's America Latina Ltda. Avenida Nacoes Unidas, 12.551 16th Floor, Room 1601 Sao Paulo, SP 04578-903 Brazil JOURNALISTS: 0 800 891 2518 Client Service: 1 212 553 1653 Marc R. Pinto, CFA MD - Financial Institutions Financial Institutions Group JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 Releasing Office: Moody's America Latina Ltda. Avenida Nacoes Unidas, 12.551 16th Floor, Room 1601 Sao Paulo, SP 04578-903 Brazil JOURNALISTS: 0 800 891 2518 Client Service: 1 212 553 1653

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