‘ ‘ The agencies of classification of risk have many times different opinions on the same investments. Although this, not yet is common in Brazil an sender to more than have the evaluation of an agency. This is a trend that can be happened again in the Pas’ ‘ of other factors, beyond notes, in the hour to diversify carteira.' ' The demand of the senders for rating is growing, even so still is intent in the operations of medium and long run, because it costs expensive to get this type of evaluation. Of the side of the investors, them they are learning only not to look at superficially notes, but to better analyze the recommendations and analyses made for agncias' ' , Rabbat.Segundo Rabbat comments, with the fall in the taxes of interests the pension funds will have to more break each time for other assets, as same action and operations of private equity and venture capital. ' ' But, to enter in investments as these, it is not enough to the institucional investor to evaluate only the classification of risk. It has that to also look at the nature of the investment, the degree of governana of the company or institution and must plan as and when leave the investment.
Why to the times all the conditions seem favorable but it does not have available purchaser when the investor wants to leave investimento' ' , explains Rabbat.At when the interests is interesting? It does not have doubts that the current trajectory of fall of the interests, that must be remained per the next years, compels the institucional investors to look new alternatives to fulfill or to surpass its atuariais goals. Although this, if cannot forget that exactly with the occured fall already, Brazil continues with the taxes highest of the world. ' ' We still did not make structural changes in our wallet because the fall of the occured tax of interests so far not yet was so expressive.