February 2, 2018 / 7:43 PM / a year ago

UPDATE 1-Brazil's Previ plans to invest in healthcare, education stocks

(Adds Previ plans for its stock portfolio)

By Aluisio Alves

RIO DE JANEIRO, Feb 2 (Reuters) - Brazilian pension fund Caixa de Previdencia dos Funcionarios do Banco do Brasil, known as Previ, is planning to add healthcare, education and payment processing companies’ stocks to its portfolio, Chief Executive Officer Geitiro Genso said on Friday.

The fund, Brazil’s largest, is trying to diversify its stocks portfolio and may participate in initial public offerings of Brazilian companies, said Genso in an interview on the sidelines of a pension fund conference.

Around half of the fund’s assets are stocks, mostly large stakes in a few companies, such as Vale SA, Banco do Brasil SA and food processor BRF SA.

The fund is looking to add smaller stakes in public companies and gradually reduce its largest stakes, Genso said. Last December, Previ acquired shares of state-owned oil company Petroleo Brasileiro SA’s fuel distributor, Petrobras Distribuidora SA, when it floated on the local exchange.

Shareholders in power holding company Neoenergia SA , which include Previ, were sticking to plans to list it after it canceled its IPO in December because the shareholders considered its pricing too low, said Genso.

“We will try to list Neoenergia in a better moment,” he said. (Writing by Tatiana Bautzer, editing by G Crosse and Rosalba O’Brien)

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