Administration and management

Board of directors
# of members: 23
Name of the Chairman: Gustavo Poppe
Professional Management
Name of the CEO: Théo Rodrigues
# of full-time employees: 6
# of part-time employees: 1

Membership information

Membership annual fee (US$/Euro)
Individual investors´ membership: US$ 60.00
Investment clubs´ membership: zero
Investment club members´s membership: US$ 42.00
Corporate membership annual fee (US$/Euro)
Founders: US$ 3,200
Associates: US$ 4,000
Fee-paying members
Individual investors: 810
Investment clubs: 162
Corporate members - Founders: 23
Corporate members - Associates: 2
Non-paying members and partners
Individuals registered: 4.800
Brokers: 19

Financial information

Balance info
Total revenue : US$ 130,000
Equity Capital: US$ 300,000
Other financing sources than member fees
Fairs, book selling, ads on the website, classes etc.

Facilities

Books
“Como Constituir e Administrar um Clube de Investimentos Rentável (“Starting and Running a Profitable Investment Club) – Guia Oficial do INI”, translated from NAIC Official Guide.
“Como Constituir e Administrar um Clube de Investimentos Rentável – Manual Técnico” - (“Starting and Running a Profitable Investment Club – Technical Manual”)
On-line services
Stock Selection Guide based software
Financial information sheet about most traded companies
Discounts in courses and publications promoted by INI
Chat and foruns
Experts orientation on-line
Other
INI also takes part in events related to the financial market, like speeches, expositions, conferences, and also promotes courses to explain to non-experienced investors how to invest their money in the stock market and how to select firms to invest in.

Brazilian stock market information

National stock exchange:
Bovespa
Main features and figures:
The Brazilian economy was impacted for many years by high inflation rates, which reached 80% per month in the eighties. In 1994, the new Brazilian currency, the “Real”, brought stability, but highly unequal income distribution remained a vital problem, still today. In 2004, Brazil had a vigorous export-led economic growth that yielded increases in employment and real wages. The three pillars of the economic program in place today are: a floating exchange rate, an inflation-targeting regime, and tight fiscal policy. The currency depreciated sharply in 2001-2002, and this has contributed to a remarkable current account adjustment: in the years of 2003-2004, the country achieved record trade surpluses and recorded its first current account surpluses since 1992, although the interest rates are the highest of the world (19,75% per year in July, 2005).

The Brazilian stock market is expanding, and the number of natural people investing has doubled in the last five years, which caused the share of retail investors to reach 30% of the total financial volume traded. The number of investment clubs is also growing. Presently there are about 1100 clubs all over the country (this number was 180 in 1999). The ‘home broker’ systems (using Internet) are also growing and helping to develop the market in Brazil. It is expected that, when interest rates go down, the stock market will attract more investors and INI would help to develop even more the doimestic capital market. The typical Brazilian investor is used to invest in savings account, mainly because he does not know how to invest in the stock market or other kinds of investments. Many are even afraid of investing in the stock market, for not knowing how it works. This culture is slowly changing, with a bigger number of people changing the ways they invest their resources, and nowadays the stock market is seen as another option for investing in the long term.
The total volume traded raised 48,6% in 2004, reaching R$304 billion (the biggest of all times) - about R$1.221,3 million each day. The total capitalization value is R$900 billion (about US$ 375 billion). About 120,000 people are investing in the stock market in Brazil.
Investors profile
Based on INI´s members, the majority of the investors have the following profile: they work for private firms, graduated or post graduated at universities, live in the biggest (and more developed) cities of the country (Rio de Janeiro and Sao Paulo). About 63% is 45 years old or less.

Recent developments

Recently, INI has started to sell books related to the financial market and successful investors. It also has signed a partnership with firms that work for the Brazilian market, like consultancies and software developers. INI has presented speeches at universities all over the country, about the Institute itself and its method to invest in stocks. For the members who renew their association, the Institute gives (as a gift) two books, one related to the rights of the investors and another containing data about the companies of the country. INI is going to advertise in Bloomberg Television, a TV channel that focus in financial subjects.

Webmaster Information

Paulo Portinho ( portinho@ini.org.br )