Pioneering Retirement Innovation in Brazil

Jubarte is an independent, São Paulo-based asset manager founded in 2023 with the explicit objective of connecting Brazil to the world. Jubarte is launching an innovative set of financial products for Brazilian investors, with a focus on retirement savings. The global gold standard of retirement investment strategies is known as 'target date,' which is a financial portfolio that blends risky and safe asset classes in a systematic manner as it approaches a preset (‘target’) retirement date. Target date is the default investment option in U.S. 401k plans and accounts for over 10% of the U.S. mutual fund industry but, in Brazil, the strategy is nonexistent. This project will support Jubarte's efforts to launch the industry in Brazil. The objective of the project is to study the target date industry in the United States, characterize the opportunity and potential obstacles to its development in Brazil, and present concrete proposals for overcoming those obstacles.