ANBIMA

Since February - 2009, Santa Fe was approved as a new member to the Anbima´s Regulation and Best Practices Code for Investment Funds.

ANBIMA (Brazilian Financial and Capital Markets Association) is the principal representative of the financial institutions operating in the Brazilian capital markets. The Association's aim is to strengthen the domestic capital markets as an instrument for fostering Brazilian development.

ANBIMA's Regulation and Best Practices has created and instituted Regulation and Best Practices Codes in which the market participants themselves establish regulatory standards that are far more rigid than the prevailing legislation. Regulation and Best Practices contributes to raising the standard of operational practices in the market and instilling greater investor transparency.

The Regulation and Best Practices department is supported by the Regulation and Best Practices Committees, the majority of which is composed by members who are external to the Association, thus ensuring such bodies' total independence.

Anbima’s Regulation and Best Practices Code for Investment Funds

The purpose of this Regulation and Best practices Code is to establish parameters under which the activities of the Participating Institutions, defined below, related to the constitution and the functioning of investment funds (“Investment Funds” or “Funds”), shall be guided, principally with a view to establishing:

I. fair competition;
II. standardization of their procedures;
III. the improved quality and availability of information on Investment Funds, especially through the remittance of data by the Participating Institutions to ANBIMA; and
IV. the improvement in fiduciary standards and the promotion of best market practice



www.anbima.com.br