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Specialization and market recognition for management and innovation in Investment Funds

Structured Funds

These bring added value to your assets, diversify management across sectors of the economy, and seek new business options in the real economy


Exclusive Funds

Funds that are set up, administered and managed by Votorantim Asset Management, as a basic instrument for making your investments


Fund Management – VAM

Funds that are managed by Votorantim Asset Management aligned with your investment strategy


Third-Party Managers’ Funds

To round out your investment strategy, through open architecture we can offer diversification by adding different management styles

Fixed-income products are low-risk investments with guaranteed return

CDB - Bank Deposit Note

Certificates of Bank Deposit (CDBs) are the most traditional fixed-income securities on the market. They are issued exclusively by financial institutions.

The investment period and fees are negotiated according to your company’s needs. Rates can be pre-fixed, post-fixed, or floating.


  • Low-risk investment.
  • Daily liquidity can be negotiated, considering the minimum terms and conditions agreed.
  • The soundness and security of BV bank.
  • Guaranteed by the FGC (Credit Guarantee Fund), regulated by the Central Bank of Brazil under current legislation.


An alternative of fixed-income investment characterized by the sale of a bond (public or private) with the commitment of repurchase by BV bank and the commitment of resale by the customer.

These operations have high rate of return and previously defined periods.


  • An investment associated with the soundness of BV bank.
  • Daily liquidity can be negotiated, considering the minimum terms and conditions agreed.
  • An additional guarantee of the bond covered by the commitment.

Financing bills (LF)

The Financial Bill (LF) is a form of financial investment characterized by a bond issued by financial institutions, which is transferable, freely traded, and represents a promise of payment in cash.

The minimum initial investment for LFs is R$ 300,000 and can be contracted with or without interest payment flow, at intervals of at least 180 days.

The minimum term of the operation is two years, and total or partial redemption is not allowed before the agreed maturity date.


  • Possibility of more attractive return when compared to long-term investments.

Agribusiness Credit Bill (LCA)

This is a registered security, issued by public and private financial institutions, freely traded, representing a promise of payment in cash.

The LCA is linked to credit rights relating to agribusiness. It was created to increase the volume of financing to the agribusiness sector.


  • Fiscal efficiency.
  • Grants investors the right to pledge the agribusiness credit rights linked to the bond.

Real estate credit bill (LCI)

The Real Estate Credit Bill (LCI) is a form of financial investment, through a credit instrument backed by real estate receivables.

The LCI was created to increase the volume of real estate financing.


  • Fiscal efficiency.
  • Guaranteed by the FGC (Credit Guarantee Fund), regulated by the Central Bank of Brazil, under current legislation

Option box

A fixed income strategy built by combining two exchange rate options. It provides investors with pre-fixed remuneration on the maturity date or redemption of the strategy, regardless of the exchange rate behavior.

It is possible to contract the swap transaction for customers who wish to change the remuneration reference. In this case, the investor–customer will receive post-fixed remuneration, as a percentage of the CDI rate, for example.


Government Bonds

A type of investment based on fixed-income bonds, issued by Brazil’s National Treasury.

These bonds are primarily intended to raise funds for financing the public debt and for financing Federal Government activities.

The rate of return and maturities are defined at the start of the operation.


Check out our documents regarding investment products on sale

Derivatives are important tools that can provide special returns when combined with other financial instruments

At BV bank, we have a team of specialists dedicated to serving customers who already operate with derivatives and those who would like to follow this path. Contact us to understand how all types of derivatives work: swaps, forwards, and options.

To be successful, the derivative operation must be appropriate to your profile and your needs. We want to be your partner in this choice.

Operation subject to credit approval and product conditions.

With us, you can invest in stocks, futures contracts and options

At Votorantim DTVM, we provide direct access to the stock market, with the intermediation of the purchase and sale of shares, futures contracts and options on the B3 (São Paulo Stock Exchange).

Furthermore, we offer our customers the services of our Research department, which specializes in carrying out industry reports of Brazilian companies and activities (listed on the Stock Exchange), which – together with the macroeconomic scenarios and analyses prepared by our Economists – can advise them in their decisions.

Talk to your Private Banker and learn more about the solutions available.



A one-of-a-kind solution: two partner companies combined with a unique long-term investment proposal: Icatu Seguros Previdência and Votorantim Asset Management.

In this choice, you have VAM’s high performance in investment management, plus the Icatu Seguros’ experience and innovation on the private pension market. 

Learn more about VAM and Icatu:

Icatu Seguros

Icatu Seguros is the largest independent insurer in Brazil, specializing in life insurance, pension plans, capitalization bonds, asset management, and administration and benefits.

Its trajectory is based on the highest principles and standards of transparency, efficiency and credibility.

Votorantim Asset Management (VAM)

Votorantim Asset Management (VAM) is the third-party asset manager of BV bank, and is among the largest on the market.

Created in 1999, its investment philosophy is the search for high returns focused on preservation of capital, adherence to the investment policy defined jointly with the investor, and stringent risk control.



After the option made for the investment of your resources, over time you will receive benefits and tax advantages, accumulate resources, and generate profitability. 


VGBL (Vida Gerador de Benefícios Livre) – Redeemable Life Insurance


PGBL (Plano Gerador de Benefícios Livre) – Free Benefit Generation Plan

When filing your annual return, the contributions are not Income Tax deductible.

Contributions are Income Tax deductible, up to 12% of the customer’s annual gross income*, reducing the tax to be paid or increasing the amount of the refund.

In income payments or redemptions, the tax is levied only on the return on investment.

The tax is levied on the total amount redeemed or paid in the form of income.


* When the participant is the person filing the Income Tax return, the contributions can only be deducted if it is a contributor to official social security. When the participant is over 16 years of age is a dependent of the person filing the Income Tax return, the contributions can only be deducted if it is a contributor to official social security.


Pension Funds

Your resources are invested in plans managed by Votorantim Asset Management through fixed-income and multi-market investment funds, specially formed, with variable income limits so that you can adjust your risk tolerance.


Votorantim Icatu Seg Platinum

No less than 85% of its composition in fixed income, and no more than 15% in variable income.

Votorantim Icatu Seg Diamond

No less than 55% of its composition in fixed income, and no more than 45% in variable income.

Votorantim Icatu Seg Legacy
Fixed Income Private Credit


In addition to Fixed Income, we offer two options for multimarket funds (which can operate in the interest market, foreign exchange market and stock market, including the use of derivatives subject to the diversification limits established in the regulations) that can be contracted through the Votorantim Icatu Hartford plans, in the PGBL and VGBL modalities.


This is a supplementary pension plan that allows for greater flexibility and offers more transparency to participants, as well as tax advantages on income tax returns.


This is a plan that does not offer tax incentive on income tax returns, but offers tax advantages in the rate of return obtained in the funds in which your resources are invested.

Load Fee

Minimum Amounts

  • Initial contribution: R$10,000.00
  • Monthly/sporadic contribution: R$ 400.00
  • Minimum amount for partial redemptions: R$ 1,000.00 (provided that a minimum balance of R$ 5,000.00 is maintained)

Management fee

  • Votorantim IS Diamond Multimarket: 1.80% p.a.
  • Votorantim IS Platinum Multimarket: 1.60% p.a.
  • Votorantim IS Legacy Fixed Income: 0.80% p.a.

Load Fee


Social security accumulation plans may charge a load percentage on contributions, for cash inflows and/or outflows.

Plans made available by Votorantim Asset Management in partnership with Icatu Seguros do not charge front-end load fees and, depending on the duration of each contribution or reserve volume, back-end load fees may be 0%.

Front-end load: 0%

Back-end load: As shown in the table, opposite


Offering zero entry load fees gives Votorantim Icatu Seg Previdência a major market differential, directly benefiting the participant.


Contributions corrected for inflation annually according to the IPCA price index, on the anniversary date of the Plan.

Saldo da reservaPeríodo de permanência de cada Contribuição/PrêmioCarregamento

Up to R$ 49,999.99

Up to 12 months



From 13 to 24 months



From 25 to 36 months


Starting at R$ 50,000.00





Accounts receivable and treasury

Sending of a file for registering and handling inconsistencies, clearing of deposits received in checking accounts, bank reconciliation of receipts pending at the bank, and processing of bank statements.

Accounts payable

Sending of payment files to the bank, addressing inconsistencies of rejected payments, and service to suppliers.

Cash Management

Closing of daily cash account with suggestions for cash hedging, control of volume of FIDC (receivables investment funds) operations, and report on changes in financial investments.

Registration center

Tailored investment strategy

We offer a personalized investment strategy to customers with a discretionary mandate, with innovative financial solutions tailored to your needs, covering products and services compatible with the yield you seek and the security you desire.

Risk management and control

We want to preserve and contribute to the growth of your wealth, but always with total security. We use state-of-the-art risk control tools.

Preservation of assets

We are aware that your assets must be managed with care and excellence, always in pursuit of your satisfaction and ease-of-mind.

Growth of assets

Besides preserving your assets, we continually seek to identify investment alternatives that help to expand and protect your assets.


Your privacy will always be preserved, and we guarantee that information about your assets and operations remains confidential.

Taxation of the plans

Social security accumulation plans have a particular taxation rule, which benefits those who make long-term investments. Since Income Tax is only levied at the moment of receiving the money, those who opt to invest for terms of more than 10 years can only pay 10% of tax – if they have opted for the Regressive Table.

Learn about the forms of taxation offered and choose the ideal option for your case: Progressive Table or Regressive Table.

Important: The Progressive Table is the default option. If you wish to opt for the Regressive Table, you must specify this option when contracting the plan.


Calculation basis - Income (R$)  

Rate (%)

Portion to deduct

from Income Tax (R$)

Up to  17.989,80



From 17.989,81 to 26.961,00



From 26.961,01 to 35.948,40



From 35.948,41 to 44.918,28



Above de 44.918,28




Accumulation Period

Income Tax Rate (%)

From 0 to 2 anos


From  2 to 4 anos


From  4 to 6 anos


From  6 to 8 anos


From 8 to 10 anos


> 10 anos