Funcef has US$ 1.02 billion to invest in 2010

The President of Funcef, Pension Fund for Employees of the Caixa Economica Federal, Guilherme Lacerda, said today that the institution has about US$ 1.02 billion to invest in infrastructure in 2010. Of this amount, US$ 325 million will be directed towards the interests of major energy sector projects, such as Belo Monte and Jirau plants, and the high-speed train.

“A pension fund must continue working on the needs of the country”, he said, on confirming that the company is closing partnership with Odebrecht contractors to participate in the auction of the Belo Monte plant in Pará, which previous license was released yesterday by IBAMA.

The government’s estimate is that the auction of Belo Monte is to be held in April. Funcef plans to invest US$ 108 million to US$ 216 million in the project. The institution concludes talks with Camargo Correa to acquire half of the 9.9% that the contractor has in the Jirau plant in Rondônia.

The President of Funcef said that its investment portfolio will continue to be directed “to sectors with less cash flow at risk”, such as real estate.

Lacerda do not see any influence of the election year in the application of foundation. While denying the government’s direct interference in 2009, Funcef was one of the funds that it has applied most in RDB with warranty of the Credit Fund Guarantee (CFG), on the line created by the government to provide liquidity for small banks.

The Foundation invested nearly US$ 162 million for approximately 20 banks, with the major resources to 3 years and 5 years. “It was a good lease with a very low risk under control”, said Lacerda.

The president announced on Tuesday that in 2009, the Funcef registered a surplus of US$ 1.19 billion, compared to the deficit result of US$ 1.29 billion in 2008, generated by the international crisis. The yield achieved by the foundation last year accounted for 20.1% above the actuarial target (income needed to cover commitments) of 9.8% (INPC plus 5.5%).

The patrimony rose to US$ 21 billion last year, after falling to US$ 17.67 billion in 2008. The real state wallet itself had an annual high of 24.1%. With average increase of two years of supervened in the biometric board, raising 83 years the average age of the participants, it generated reserve of US$ 168 million.

Third largest pension fund in the country, behind Previ (Banco do Brasil) and Petros, Funcef has 105 500 participants in three major supplementary retirement plans, with 29 900 attended. In Caixa, however, there are still some 8 billion Economists outside the fund, because of disputes in early 2000.

Fonte: Valor Online