Quick Chat on Brazil: Between Olympics and Impeachment

While Usain Bolt, Kohei Uchimura and Michael Phelps have confirmed their legendary stature, Dilma Rousseff experiences a descent into hell itself. On the 9th of August, the Senate voted 59 to 21 to indict Dilma Rousseff accused of breaking the budget law in 2014.

By the end of the month, Lula’s political heiress may be definitively removed from office. Michel Temer, her Vice-president and now interim President, took over since last May when Ms. Rousseff got suspended. Since then, the Brazilian Real kept rallying, gaining almost 10% against the dollar. Our two fixed income fund managers, Jean-Philippe Donge and Dieter Hein, share their impression below.

Jean-Philippe Donge, Head of Fixed Income

Following his Master's degree in Business Engineering from the Louvain School of Management in Belgium, Jean-Philippe joined Banque de Luxembourg's Asset Management department in 2001. Three years in the Financial Analysis department convinced him of his ambition to become a fund manager. In 2003, he moved into portfolio management and currently he manages the bond funds of the BL-funds range, including BL-Global Bond, which has won a string of awards in Europe, including best euro-denominated bond fund in Europe.