Sao Paulo, April 25, 2014 -- Moody's América Latina has affirmed the MQ2 Investment Manager Quality assessment of Icatu Vanguarda Administração de Recursos ("Icatu Vanguarda"). The MQ2 assessment reflects Moody's view of the asset manager as having very good management characteristics. Icatu Vanguarda is a direct subsidiary of Icatu Group (unrated), one of the leading insurance groups in Brazil. As of December 31, 2013, Icatu Vanguarda's assets under management totaled BRL8.8 billion (USD3.7 billion).
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