Brazil's Regulator to Allow Funds to Invest Abroad

Brazil's securities regulator will allow local investment funds to invest abroad to lock in higher yields and compensate for falling interest rates at home.
Funds that buy both stocks and fixed-income securities will be allowed to invest up to 20 percent of their assets abroad, the regulator said on its Web site. Other funds will be able to invest up to 10 percent of assets abroad.
Allowing local funds to invest abroad will require changes to the country's currency laws. The regulator and central bank are studying possible alterations, the statement said.
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