Brazil Funds May Sell $39 Billion of Treasury Debt

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BRAZIL - Brazilian pension funds may sell as much as 70bn reais ($39 billion) of government bonds after falling interest rates led regulators to lift limits on investing in non fixed-income assets, according to SulAmerica Investimentos.

The money likely will move into hedge funds, corporate bonds, stocks and private equity over the next three years, said Marcelo Mello, vice-president of Sao Paulo-based SulAmerica, a unit of insure...

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