RIO DE JANEIRO, BRAZIL - The sharp drop in world stock markets, including that of Brazil, over the past week may have spooked a large portion of investors, but it should not be regarded as a watershed in terms of foundations and prospects.
According to the Wealth Management team of the world's largest manger for private wealth, Swiss UBS, the risk-aversion move was part of an expected correction and the assessment of the Brazilian stock market remains positive.
"We have not changed our allocation. We continued underweight [with exposure below market average] in pre-fixed and post-fixed securities . . .