| In 2004, Unibanco Asset Management rose to sixth place from eighth in Anbid's
ranking of asset management firms, growing 22.7% (above the 16.7% average growth
in the industry during the year). Market share also advanced to 4.8%, from 4.6%
in 2003.
The total assets under management and custody held at UAM was R$33 billion
at the end of 2004, a net increase of R$1.9 billion over the previous year,
originated primarily from the Corporate, Private and Institutional divisions.
UAM also increased the offer of equity funds with the launch of five new funds
in 2004: Unibanco Energia FIA, Unibanco Telecom FIA, Unibanco Exportadoras FIA,
Unibanco Classe Mundial FIA and Unibanco Small Cap FIA. Equity funds are an
option of portfolio diversification for investors looking for longer-term horizon
alternatives and differentiated returns from the variation of interest rates
over time.
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