Annual General Meetings in NYC

Offshore Investments

17 October 2023

Turim provides its clients with access to leading local and global fund managers, ensuring excellence in investments.

João Felipe Bandeira de Mello, CFA, Portfolio Manager focused on Manager Selection at Turim, visited New York earlier this month to participate in Annual General Meetings and important meetings with offshore managers in which we invest.

We value a transparent and long-term relationship with the managers and funds invested, maintaining close communication with them. Additionally, our due diligence and manager monitoring process is continuous, with over 800 calls and meetings per year. These encounters also allow them to explore new investment opportunities and maintain an extensive network of relationships.

Discussions covered investment cases, institutional updates, market views, and macroeconomic perspectives, including what they have observed in terms of opportunities in Artificial Intelligence (AI).

One notable comment was how the most significant development since last year has been the emergence of ChatGPT and the subsequent AI boom in the technology sector. Moreover, unlike previous innovation booms, current valuations remain reasonable and well below the peaks caused by the recent Covid-19. However, as exciting as this theme promises to be in the next decade, managers remain cautious until essential macroeconomic challenges, such as inflation, high government deficits, and higher long-term interest rates, are addressed.

We remain committed to providing our clients with access to updated and differentiated information, valuable networking, and new investment opportunities.