Incisive Itau
Banco Itau is one of the few banks in the Brazilian structured products market that is able to structure and distribute both capital-protected funds and synthetic structured notes. The fact that the bank can also hedge most of its products in-house has made it one of the leaders in the market. Matt Cameron reports
The Brazilian structured products market has often been touted as one with the greatest potential to expand over the next few years. Given the fact that the mainstay of other markets, the structured note, is outlawed, the industry as a whole has displayed remarkable innovation and guile in developing instruments which can replicate the flexibility of the notes.
The market currently has two dominant structures: capital-protected fund wrappers and the aptly named synthetic structured notes. Few
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