The Alternative Investment Management Association (AIMA), the global hedge fund association, has launched an initiative to engage with the Brazilian hedge fund industry and announced the appointment of a local representative, Michelle Noyes of BRZ Investimentos.

"The maturity and sophistication of the Brazilian hedge fund industry has been noted internationally, and what is clear is that there is not only an interest from the global industry - whether from managers, investors or service providers - in Brazil, but there is also an increasing desire from the Brazilian industry to engage and to think globally," said Andrew Baker, AIMA's CEO.

"As the global hedge fund industry association we believe we can offer access to the international hedge fund community to the Brazilian industry. We see our role as opening up an international channel of communication so that the Brazilian industry can engage in dialogue on key industry issues with their colleagues internationally, benefit from global best practice and receive comprehensive regulatory updates from the key jurisdictions worldwide."

AIMA said that it would be working very closely with the Brazilian industry association, ANBIMA, and that it saw its role as a complementary one to the structures already in place for the Brazilian industry.

"Brazilian managers are becoming increasingly ambitious and looking beyond Brazil's borders," said Michelle Noyes, AIMA's Brazil representative, "and there is understandable international interest in Brazil. We look forward to facilitating the dialogue between the Brazilian industry and the international hedge fund community."