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NEWS

President Ary Graça holds encouraging talks with FIVB banks

 
President Graça met with five banks which manage the FIVB portfolio
 
Lausanne, Switzerland, March 2, 2016 - FIVB President Dr. Ary Graça and FIVB Investment Consultant Ney Brito have held individual meetings, over the last four days, with the five FIVB banks, which manage the FIVB portfolio, in order to continue discussions on market views and portfolio adjustments after the FIVB put in place some significant protection measures over the past couple of months.

The market has been volatile since August 2015 due to a number of factors; such as Chinese mishandling of equity and forex markets, rising interest rates in the United States, instability of oil prices, commodities and negative interest rates being used by central banks for monetary policy. At the end of last year, President Graça and Mr. Brito improved already established drawdown limits to protect the FIVB’s funds and this understanding by the President of the need to implement protective measures helped limit the market impact.
 
President Graça and Mr Brito met with representatives of each of the five FIVB banks: Société Générale, Lombard Odier & Cie, Union Bancaire Privée (UBP), Pictet & Cie and J.P. Morgan to continue discussions on how they can reduce the cost of future portfolio management.

FIVB President Dr. Ary Graça said: “We have been assured by the FIVB’s banks that the situation is improving. It was extremely helpful to meet with the banks to discuss this and how we can enhance the management of the FIVB’s portfolio moving forward. The banks are optimistic the markets will improve in the summer.”




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