As explained by the businessman himself, the launch of TT Argentina 2021 “is a shows more of the faith we have in the recovery of our economy”. Following this line, he explained that since the value of the peso in real terms is at historic lows, “an upward cycle should be starting” with which it would be a good time to bet on said instrument.
“We are convinced that we are not the only ones in this vision, and that investors will accompany our initiative”Elsztain added. In addition, he stated that, like the local currency, assets expressed in pesos (shares of Argentine companies, public securities, etc.) are also at historic lows both in value and volume, for which “it would be a good time to enter the market and take advantage of the possible uptrend of the next cycle”.
One of the arguments expressed by the businessman in favor of optimism regarding economic activity points to the fact that “the global context would be very favorable for countries that produce raw materials such as Argentina.”
According to the prospectus of the TT Argentina 2021, The contribution to the fund may be made not only in pesos but also in Argentine titles. At the same time, it highlights that the fund, like all Toronto Trust funds, will be managed by BACS (Banco de Crédito y Securitización), the wholesale entity controlled by Banco Hipotecario and main shareholder of Toronto Trust, which manages funds for $45 billion.