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Demand for Agriculture-Linked Financial Instruments Soars in Brazil

The first effects of tariff measures introduced by the U.S. government under Donald Trump are beginning to materialize in both the real and financial economies. In Brazil, Credit Rights Investment Funds linked to agriculture are growing rapidly, as the performance of the local agribusiness sector once again surprised in the first quarter of 2025 with a 12.2% expansion.

Year over year, Brazil’s GDP rose by 2.9%. A major driver of this acceleration came from the agricultural sector: China doubled its soybean purchases, making the Latin American giant its primary supplier and replacing the United States.

In Brazil, this growing relevance has reignited discussions on how to expand financing for the sector, and among the most promising instruments are Credit Rights Investment Funds (FIDCs), which are consolidating as a structured credit mechanism tailored to the specific needs of agriculture.

The FIDC market dedicated to agribusiness—particularly in the form of FIAGRO-FIDC—has experienced rapid growth. According to data from Anbima, FIAGROs’ net assets have increased by 204% since March 2023, reaching BRL 47.7 billion (approximately USD 8.6 billion) in 2025. Of that total, about 48% is allocated to FIDC structures, which acquire credit rights from the rural production chain such as invoices, supply contracts, and input receivables.

“FIDCs provide rural producers with more flexible credit access, often through structures adapted to their production cycle. For investors, they represent a safe and regulated alternative with the potential for higher returns than traditional fixed income,” said Marcelo Linhares, Superintendent of Agribusiness and Foreign Trade at FlowInvest.

FIDCs are directly supervised by the Brazilian Securities and Exchange Commission (CVM), which ensures greater transparency and strict governance. Resolution 175, recently enacted by the regulatory body, has simplified the fund regulatory framework, offering more clarity on risk classifications and manager responsibilities.

Beyond FIDCs, other instruments are also attracting investor interest in the agribusiness sector: Agribusiness Receivables Certificates (CRAs), which are exempt from income tax for individuals and have seen a 42% increase in issuance volume; Agribusiness Credit Bills (LCAs); and Green CPRs, which focus on sustainable farming practices.

According to experts, the advancement of receivables tokenization, the growing sophistication of investment platforms, and increased interest in real-economy-linked assets have enabled individual investors to engage with agriculture like never before.

“Today, it’s possible to invest in robust structures backed by agribusiness without leaving home, with sector diversification and exposure to one of the most resilient segments of the Brazilian economy,” said Linhares.

Although agribusiness represents about 6.5% of Brazil’s GDP on average, it has been a major driver of recent economic growth, further reinforcing the appeal of these instruments. For investors, in addition to the potential for risk-adjusted returns, structured funds such as FIDCs offer the chance to build more diversified portfolios with assets uncorrelated to the urban and industrial economy.

“We are entering a new agricultural financing cycle, in which the capital markets play an increasingly strategic role,” Linhares concluded.

Investors Back UCITS Despite Tariff Uncertainty in the Eurozone

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All UCITS categories attracted capital inflows in the first quarter of 2025, demonstrating investor confidence despite ongoing uncertainty around tariffs, according to the latest statistical report published by the European Fund and Asset Management Association (Efama).

In the view of Bernard Delbecque, Director of Economics and Research at Efama, despite the decline in fund asset values, UCITS recorded strong inflows across all categories throughout the quarter. “The fact that fixed income funds remained the best-selling category indicates that investors were still exercising caution; however, rising concerns over impending U.S. tariff hikes did not deter investors from purchasing equity and multi-asset funds,” he noted.

Key Figures

During the first quarter of 2025, net assets of UCITS and AIFs experienced a slight decline of 1.1%, reaching €23.2 trillion. According to Efama, despite this drop, both fund types attracted net inflows totaling €217 billion, showing a slight decrease from the €238 billion recorded in the fourth quarter of 2024. Of these inflows, UCITS accounted for the vast majority with €213 billion, while AIFs recorded €4 billion—a significant decrease from the €21 billion of the previous quarter.

Long-term funds showed solid performance, posting net inflows of €179 billion. All long-term fund categories recorded net inflows, with bond funds remaining the top sellers at €75 billion, although down from €91 billion the previous quarter. Equity funds also performed well, registering €64 billion in net inflows, an increase from €60 billion at the end of 2024. Multi-asset funds rebounded with €20 billion in net inflows, a significant increase compared to €7 billion in the previous quarter.

ETFs continued their growth trajectory, with UCITS ETFs reaching €100 billion in net inflows. Meanwhile, long-term funds under SFDR Article 9 (Sustainable Finance Disclosure Regulation) marked their sixth consecutive quarter of net outflows, totaling €7.9 billion. In contrast, Article 8 funds, which focus on sustainable investments, attracted €42.6 billion.

Finally, European households showed strong interest in fund purchases, with net acquisitions of €79 billion in the fourth quarter of 2024—up from €62 billion in the previous quarter. This marked the second-highest quarterly level since Q2 2021, driven primarily by households in Germany, Spain, and Italy.

exSat and Ceffu Launch MirrorRSV for Bitcoin Yields

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In a move made to reshape how institutions interact with Bitcoin, digital banking service provider exSat and Ceffu have launched MirrorRSV integration. Offering secure, transparent and high-yield Bitcoin asset deployment across centralized and decentralized finance platforms.

Institutional clients can now mirror assets from the exSat mainnet directly to the Binance Exchange, unlocking 1:1 liquidity access, on-chain verifiability and cold storage security. These services are all powered by Ceffu, Binance’s exclusive custody partner.

The new system ensures full traceability of asset flows and yield generation, enabling institutions to participate in Bitcoin-native strategies with the compliance, control and audibility they demand.

“Through our partnership with exSat, we’re enabling a new paradigm where institutional investors can confidently participate in Bitcoin yield generation, knowing their assets are protected,” said Ian Loh, CEO of Ceffu.

Additionally, it enables multi-layered yield generation by combining the benefits of DeFi with CeFi. Clients can maximize asset efficiency, leveraging exSat’s infrastructure to engage in hybrid strategies such as staking, real-world asset earning and delta-neutral trading.

The launch marks the first time Mirror RSV supports a Bitcoin-native protocol, reinforcing Ceffu’s leadership in off-exchange asset mirroring and yield deployment for institutional investors.

“We are now enabling institutions to deploy capital into Bitcoin-native yield strategies with the same level of control, auditability and compliance they expect from any traditional asset class,” said Yves La Rose, Founder of exSat.

Certified Financial Planner Board of Standards Leads AI Initiative

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The Certified Financial Planner Board of Standards, Inc. hosted an AI Working Group on June 10-11 in Washington, D.C., to explore how artificial intelligence is transforming the financial planning profession and to define the evolving role of human expertise.

As part of its long-term strategy, the Board is developing actionable recommendations to help ensure AI supports, rather than replaces, the human-centered nature of financial advice.

“CFP Board is taking the lead to help the profession harness AI’s potential to elevate financial planning and strengthen engagement,” said CFP Board CEO Kevin R. Keller, CAE.

Led by CFP Board COO K. Dane Snowden and developed in partnership with Heidrick & Struggles, the working group examined real-world applications, regulatory considerations and ethical implications of AI financial planning. The agenda included scenario planning and discussions on how to integrate AI into practice responsibly.

Members of the AI Working Group include:

Andrew Altfest, CFP®, MBA, Founder and CEO, FP Alpha and President, Altfest Personal Wealth Management
Joel Bruckenstein, CFP®, CMFC, CFS, President, T3 Technology
Alan Davidson, former Assistant Secretary of Commerce and Administrator, National Telecommunications and Information Administration
Tristan Fischer, Managing Director, Financial Services Consulting, Ernst & Young LLP
Tim Foley, Head of Artificial Intelligence Accelerator, LPL Financial
David Goldberg, Senior Vice President, Chief Data and Analytics Officer, Edelman Financial Engines
Brooke Juniper, CFA®, CAIA®, Chief Executive Officer, Sage
Trent Mumma, Chief Product Officer, Orion Advisor Solutions
Celeste Revelli, CFP®, BFA™, CSM®, CSPO®, Vice President of Financial Planning Technology, Fidelity Institutional® (FI)
Noah Rosenberg, Chief Financial Officer, Morning Consult
Apoorv Saxena, Managing Director, Head of AI/Data Driven Value Creation, Silver Lake
Megan Shearer, Ph.D., Senior Data Scientist, Janus Henderson
Zar Toolan, General Partner, Head of Data & AI, Edward Jones
Brian Walsh, Ph.D., CFP®, Head of Advice & Planning, SoFi

VivoPower Taps BitGo as Exclusive XRP Partner

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VivoPower International PLC has partnered exclusively with BitGo to acquire and custody $100 million in XRP, marking a bold move in its transition to a decentralized finance strategy. The publicly traded company recently raised $121 million to fund the initiative. It will use BitGo’s 24/7 over-the-counter trading desk and institutional-grade custody platform to execute and safeguard the acquisition.

The deal positions BitGo as both primary trading desk and custodian for VivoPower’s XRP holdings, leveraging its deep liquidity, secure cold storage and robust execution infrastructure to manage large-volume trades in a compliant environment.

“We are proud to provide the comprehensive platform that companies like VivoPower need to enter the digital asset space with confidence – from seamless execution to industry-leading custody,” said Mike Belshe, BitGo’s CEO.

The announcement underscores BitGo’s growing role as a full-service digital asset platform for institutions, offering seamless execution, security-first custody and access to global liquidity pools through its OTC desk.

As part of its shift into digital finance, VivoPower has also filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for a public offering of ordinary shares. Investors can review the registration documents on the SEC’s EDGAR database at https://www.sec.gov/ or request a prospectus by emailing shareholders@vivopower.com or prospectus@chardan.com.

For finance professionals watching institutional adoption of crypto, the partnership represents a pivotal moment for XRP as a treasury asset and a clear signal that digital asset infrastructure is becoming essential in corporate finance strategy

Rising Wildfire Threats Drive Home Insurance Pullback

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A recent report from the Canadian Carbon Removal Project developers, Deep Sky, reveals a growing home insurance crisis in North America driven by unprecedented wildfire risks in 2025.

Combining insurance data from California, Oregon, Texas, and Washington, Deep Sky’s Wilfires 2025 reports find that a widening gap exists between increasing wildfire threats and shrinking insurance coverage.

The study finds over 150,000 households in California’s most fire-prone areas are uninsured as insurers back away from high-risk regions. Building on their 2024 findings of a 20-fold increase in extreme fire risk frequency, the new research highlights the growing financial and human toll of climate-driven wildfires.

Using sophisticated catastrophe models, insurers are withdrawing from vulnerable markets, particularly in California, where losses from recent fires, like January’s Los Angeles event, are estimated at $44.5 billion.

“When insurers can no longer price risk effectively, they exit the market entirely,” said Max Dugan-Knight, Deep Sky’s Climate Data Scientist.

With private insurers pulling back, government-backed programs like California’s FAIR plan have become last-resort insurers. However, these programs face financial strain as more homeowners rely on them, with FAIR plans in California, Texas, and Oregon growing by 121%, 54%, and 39%, since 2020.

Additionally, Deep Sky’s Fire Weather Index shows spring 2025 conditions are at levels unseen in over a decade across much of North America. Early wildfires in Canada have forced evacuations and states of emergency, while Alberta and British Columbia face even higher risks as peak season approaches.

The report warns of a “vicious cycle” where worsening fire conditions lead to larger wildfires, releasing more carbon emissions that fuel climate change and further increase fire risk. Since 2019, one in five homes in California’s highest-risk areas have lost coverage, and premiums have surged 42% since 2009. Over 30,000 policies have been non-renewed since 2018.

Deep Sky’s full Wildfires 2025 report, including detailed risk maps, is available at deepskyclimate.com/research. The findings call for urgent coordinated action from insurers, governments, and homeowners to manage wildfire risks and stabilize insurance markets.

Financial Organizations Using Generative AI Operate With 45% Lower Costs

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Digital world-class financial organizations operate with 45% lower costs as a percentage of revenue, deliver executive insights 74% faster, and generate forecasts 57% more efficiently, according to the Digital World Class® Finance 2025 research conducted by generative AI consulting firm The Hackett Group.

“As disruption accelerates, Gen AI offers financial leaders a once-in-a-generation opportunity to reinvent work and generate breakthrough business value,” said Martijn Geerling, Managing Director and Global Practice Leader at The Hackett Group. “Digital world-class financial organizations are already leading the way,” he added.

The Hackett Group defines digital world-class financial organizations as those that achieve top-quartile performance in both business value and operational excellence. These companies spend less time collecting data and more time generating analysis and insights, using Gen AI and data analytics to support faster, smarter business decisions.

The 2025 research is based on global benchmarks and highlights five key performance areas where these organizations outperform their peers:

Business Effectiveness

68% more time devoted to forward-looking analysis and strategic insights.
54% more likely to align business planning with the annual budget.
48% fewer days in accounts receivable and 83% fewer average delinquency days.

Digital Enablement

Twice as likely to allow cost center managers to input budgets online and generate ad hoc reports themselves.
Nearly 100% provide online access to customer accounts (six times more than their peers).
Suppliers use self-service portals seven times more often.

Customer and Stakeholder Experience

42% more stakeholders view finance as a valuable partner.
25% more likely to generate electronic invoicing, with 48% fewer errors, allowing nearly 100% of receivables to be collected on time.

Operational Efficiency

Closing cycles are 35%–57% shorter than those of their peers.
57% less spending on planning and forecasting, with greater investment in business analytics.
Up to 42% fewer full-time employees needed in key finance functions.

Process Automation

56% more likely to automate order-to-cash processes, including invoicing and payment application.
Approximately 80% of accounts payable workflows are fully automated.
Nearly 99% of journal entries are automated (versus 85% among peers).

The Finance Operating Model for the Gen AI Era

To achieve digital world-class performance, a redesigned finance operating model is required. The Hackett Group proposes six levers to build a Gen AI-enabled finance function:

Service Design: Redesign core processes for autonomous workflows and customer-centric experiences.
Technology: Streamline legacy systems, adopt cloud tools, and apply Gen AI to accelerate reporting, forecasting, and analytics.
Human Capital: Train teams to collaborate with AI, foster a culture of innovation, and build leadership and business partnership skills.
Analytics and Information Management: Drive enterprise-wide data governance and ensure the financial data foundation is AI-ready.
Service Partnership: Outsource transactional tasks and focus internal talent on strategic impact; collaborate with ethical AI partners.
Organization and Governance: Flatten hierarchies, establish AI centers of excellence, and adopt cross-functional, end-to-end service models.

“Digital world-class financial organizations are becoming trusted strategic partners by using Gen AI to automate routine work and elevate analysis,” said Vince Griffin, Practice Leader for Executive Finance Advisory at The Hackett Group. “They are transforming planning, forecasting, and decision-making to drive measurable business impact,” he concluded.

Patria Concludes First Fundraising Round for an Agroforestry Assets Fund

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Patria Investimentos, an alternative asset manager with a presence in Latin America, has concluded the first fundraising round for the Reforest Fund, focused on investments in agroforestry systems. The amount raised in this initial phase was approximately 100 million reais (17.98 million dollars). The fund’s goal is to mobilize up to 1.2 billion reais (215.82 million dollars).

The Patria Reforest Fund aims to invest in projects that promote the restoration of degraded ecosystems in Brazil through the implementation of agroforestry systems that combine native species with high value-added agricultural crops. The initial focus of the initiative is the Atlantic Forest, prioritizing regenerative value chains such as coffee, cocoa, and açaí.

“The Reforestation Fund was born out of our commitment to developing solutions that optimize land use, aligning profitability, environmental regeneration, and productive development,” said Pedro Faria, partner and co-CEO of High Growth at Patria Investimentos.

The projects will be managed by Patria, with Pachama serving as consultant, in collaboration with local forestry operators who have extensive knowledge of the regions in which they operate and practical experience in the sector, according to a statement from the manager.

“We are proud to lead a fund focused on agroforestry in Brazil and to dedicate resources and efforts to generating lasting impact through ecosystem restoration and the promotion of resilient value chains,” added Faria, who emphasized that Patria has a long track record in agribusiness and infrastructure investments.

The fund’s first project will be implemented in the state of São Paulo, and studies are underway to expand into other biomes. The first projects in the Atlantic Forest will aim to restore a highly degraded biome that still has biodiversity corridors and the largest river basins in the country.

Participants in the first fundraising round included notable figures such as David Vélez, Teresa and Candido Bracher. Also involved were the Enseada Family Office and Desenvolve SP, the development agency of the Government of the State of São Paulo, which selected the fund through a public call.

“Joining this fund reinforces Desenvolve SP‘s strategy to promote regional development, environmental sustainability, and increased business productivity. The fund’s investment thesis precisely reflects these values, which guide our mission and are fundamental pillars for driving a more inclusive and efficient economy,” said Ricardo Brito, Executive Director of Desenvolve SP.

The fund is aimed at qualified investors and seeks to invest in real assets with long-term return potential. The executive considers that optimizing land use with productive systems that regenerate the soil, capture carbon, and protect biodiversity is one of the greatest opportunities to overcome the challenges of transitioning to a low-carbon economy, according to a statement from Patria.

Juan Alcaraz Steps Down as CEO of Allfunds and Will Be Replaced by Annabel Spring

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llfunds, together with its Group CEO and founder, Juan Alcaraz, has announced that he will be leaving the company to pursue new challenges. The company highlights that, after a distinguished career at Allfunds, during which he successfully led the firm’s growth and expansion, Juan Alcaraz will take on an advisory role over the next twelve months to ensure a smooth leadership transition.

Juan Alcaraz founded Allfunds 25 years ago and has served as CEO with distinction, guiding its development into a leading global platform for wealth management businesses and their end clients. Today, Allfunds has over €1.5 trillion in assets under administration, serving 940 distributors in 66 countries. “As CEO and founder, Juan Alcaraz was a pioneer in the development of open fund architecture in Europe over three decades and built Allfunds from the spark of an idea and a small business unit within Banco Santander into a global leader in WealthTech,” the company emphasizes. In its official statement, the entire Board wishes to thank Juan Alcaraz for his significant contribution to Allfunds and extends best wishes for his future endeavors.

“Juan Alcaraz has led Allfunds with great dedication since its inception, navigating key milestones such as the IPO in 2021, and has worked tirelessly in service of the business, our clients, and shareholders. We are grateful for his exceptional leadership and entrepreneurial spirit over the years and wish him much success in his upcoming projects,” stated David Bennett, Chairman of Allfunds.

Regarding his departure, Juan Alcaraz, founder of Allfunds, said: “It has been a tremendous privilege to be part of Allfunds’ growth and to have witnessed both the business and its people thrive over more than two decades. I have agreed with the Board that this is the right time for the company to begin a transition to new leadership. It has been an honor to work with everyone at Allfunds, especially the members of the Executive Committee and the Board. I leave the company in very capable hands, well-positioned for the future and with strong business momentum heading into 2025 and beyond.”

Annabel Spring, New CEO

Following Alcaraz’s departure, the company’s Board is overseeing the succession planning and has appointed Annabel Spring as the new CEO of Allfunds, who will assume the CEO role in June.

According to the firm, Annabel Spring brings extensive experience to Allfunds after a distinguished career in wealth management and banking spanning 30 years and four continents. She joins Allfunds after six years at HSBC, where she most recently served as CEO of Global Private Banking and Wealth Management. Prior to that, she spent nearly a decade at the Commonwealth Bank of Australia, where she held the role of Group Executive for Wealth Management. Annabel began her career at Morgan Stanley, initially in investment banking before moving to Corporate Strategy, where she was Global Head of Group Strategy and Execution.

According to the announcement, under her leadership, Allfunds will continue to drive innovation and foster strong relationships with clients and asset managers, leveraging its robust business model to achieve sustainable long-term growth.

“The Board is pleased to welcome Annabel Spring as our new CEO. Her extensive experience leading global wealth management businesses, deep knowledge of international banking, and focus on people, technology, and client experience make her the ideal leader for the next stage of Allfunds’ growth. Annabel’s strong relationships with the global client base and a wide range of asset managers, built over many years, will support Allfunds’ future growth strategy,” added Bennett.

For her part, Annabel Spring, new CEO of Allfunds, stated: “Allfunds is a global leader in its field, with a strong reputation in the wealth management and banking community. The trends supporting the continued growth of global wealth are solid, and I believe Allfunds is very well positioned to seize this great opportunity. I am excited to join Allfunds and to work alongside the Board, the Allfunds teams, and our global partners to continue innovating, growing, and delivering value for our clients and shareholders.”

UBS International Adds Adelino Dias as Financial Advisor in New York

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UBS International has added Adelino Dias as a Financial Advisor in New York, according to a LinkedIn post by Michael Sarlanis, Managing Director and Market Executive of UBS New York International.

“I’m pleased to announce that Adelino Dias has joined UBS International in the New York International market,” wrote Sarlanis, sharing a brief message from the bank welcoming Dias and highlighting his background serving high-net-worth and ultra-high-net-worth clients, primarily in Brazil.

Fabian Ochsner, Market Director for New York International, Wealth Management Americas at UBS International, echoed the announcement on his own LinkedIn profile. After welcoming Dias, he said: “We are thrilled to have you on board and look forward to a successful future together.”

Before joining UBS International, Adelino Dias served as Director for seven years at Citi Private Bank, following an 11-year tenure at J.P. Morgan, where he held the role of Executive Director of Private Wealth Management. Prior to that, he spent eight years at Citi, where he was VP Wealth Manager.

A Brazilian national, Dias holds a Bachelor’s degree in Business Administration from Fundação Getulio Vargas and an MBA in Finance from UNC Kenan-Flagler Business School, among other academic credentials.