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The asset management arm of federally controlled Banco do Brasil (BB) topped the latest assets under management (AUM) ranking in Brazil, followed by the country's largest private bank, Itaú Unibanco (NYSE: ITU).
BB had AUM of 387bn reais at the end of April, while Itaú Unibanco had 225bn reais, according to information from local capital markets association Anbima.
Brazil's second biggest private bank and largest insurance group, Bradesco (NYSE: BBD), ranked third with AUM of 186bn reais.
The highest-ranked non-bank controlled insurance company was SulAmérica at 17th with 14bn reais in AUM.
In total, the 88 asset managers on the ranking had AUM of 1.8tn reais at end-April.