50% of foreign investments managed by local advisors are from Argentines

50% of foreign investments managed by local advisors are from Argentines

half of the funds foreign investment in dollars who drive the management advisors and wealth managers Uruguayans are from Argentines, as reported by Central Bank of Uruguay (BCU) in his last relief until December 31 of last year.

In total, these managers manage around 28.930 million dollars invested in different instruments, of which just over half (50.9%), some 14,733 million dollarscome from Argentine investors.

In turn, of the total, a eleven% (3,182 million dollars) correspond precisely to Uruguayans; a 5.7% (1,649 million) to brazilian and a 32.4% (9,373 million) to investors from other countries of the world.

But the number is even higher if you look at the number of customers. Of the total of 36,710 clientsa 63.7% (23,025) are from the neighboring countrywho turn to these high-net-worth financial managers and advisers, whose sector is growing every day and who are not reached by another figure supervised by the Superintendence of Financial Services (SSF) of the BCU.

These data mean a 12.1% increase compared to 2021 in the number of Argentines who decide to invest through these legal persons in Uruguay.

The wealth advisors and managers sector is growing by leaps and bounds

Both in number of funds and in number of clients, the sector grew strongly last year. At the end of 2022, they were registered 173 legal entities of this type (67 portfolio managers and 106 investment advisors), 10 more than the previous year.

Many of them do so from the towers of the World Trade Center (WTC) in Montevideo or in the free zone of Zonamerica, on the outskirts of the capital.

These take requests from foreign investors, whom they refer and advise, and channel them by bringing them closer to intermediaries based in the country or abroad. Among all of them, moreover, employ 951 people.

If we analyze the evolution in the amount of Uruguayan clients It can be noted that the variation compared to 2021 was of 42.1%. Meanwhile, although the proportion represented by Argentines is very significant, that occupied by local investors is growing.

Of the 28.930 million dollars from investors of all nationalities, 38.2% was placed in investment funds34.9% was invested in fixed rent6% in instruments linked to stock indexes10.1% in other variable income instruments2.9% in structured products and 7.9% in other instruments.

Source: Ambito

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