...We have two business lines in Brasil. The first one is to manage open ended funds. Our holding company controls Az Quest Investimentos, a pure asset manager that manages a complete portfolio of funds in several markets like fixed income, hedge funds, macro funds, and equity funds. The second business line is a wealth management and investment distribution segment that provides to Brazilian investors a complete platform of sophisticated products and services according to individual needs. In this segment, our Holding Company controls Azimut Brasil Wealth Management and Azimut Brasil DTVM, a financial institution subordinated to Brazilian Central Bank rules and regulatory environment. In AZ QUEST, our asset management unit in Brazil, we have an investment process, developed over the company's 18-year history, which has always combined an in-depth fundamentalist micro-analysis of companies with the macroeconomic scenario. The process starts with a fundamentalist analysis which includes field research in companies that are candidates to receive investments, the evaluation of their business model, generation of cash, corporate management, sector perspective, among other variables. In this analysis, we look for stocks whose intrinsic value diverges from market value as well as performance drivers and asymmetries of results through the sensitivity analysis of the main variables used in these models...