Argentines continue to flock to Uruguay to Invest
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Data released by the Central Bank of Uruguay (BCU) reveals that, as of December 31, 2022, the investment advisors and portfolio managers sector in Uruguay had grown in terms of clients and employees. Specifically, there were 67 portfolio managers and 106 investment advisors in the country, an increase of 10 from the previous year. These advisors and managers managed the assets of 36,170 clients, 21.5% more than at the end of 2021, and employed 951 people. Of the total number of clients, 63.7% were Argentines, followed by 4781 Uruguayan clients, 1868 Brazilians, and 6496 clients of other unspecified nationalities.
Furthermore, these advisors and managers managed a total of US$ 28.93 billion, which is invested in different instruments. This amount of money had decreased by 6.2% in 2022 compared to 2021, likely due to the sharp decline of the markets in the year. Of the US$28.93 billion, 50.9% belonged to Argentine clients, 11% to Uruguayans, 5.7% to Brazilians, and 32.4% to other unidentified nationalities.
In conclusion, Uruguay is considered a regional hub for investment advice to high-net-worth clients, with licensed investment advisors and portfolio managers, mainly Uruguayan and Argentinean groups, operating in the country and Swiss and U.S. groups.
Contact the Gateway to South America team to learn about the best investment opportunities in the region. The company is a benchmark for foreign investors wishing to invest in Argentina, Brazil, Chile, Paraguay, Peru and Uruguay, providing expert advice on property acquisition and investment tours.
The Gateway Team – When You are Serious About Property
www.gatewaytosouthamerica.com
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