# SIAS

SIAS is a Pension Fund based in Rio de Janeiro, Brazil.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Rio de Janeiro, Brazil
- **Region:** Latin America
- **Address:** Rua do Carmo, 11, 6º andar, Centro, Rio de Janeiro, RJ, 20011-020, Brazil
- **Assets under management:** Undisclosed
- **Website:** sias.org.br
- **LinkedIn:** https://www.linkedin.com/company/siasmusic

## Regulatory record

- **Reports private funds:** No

## Sectors

- Real Estate
- Government Bonds

## People

- Carlos Alberto Pereira — Diretor-Presidente
- Luiz Augusto Britto de Macedo — Diretor Administrativo e Financeiro

## Questions

### Who runs investment decisions at SIAS?

SIAS is led by Diretor-Presidente Carlos Alberto Pereira, who also serves as Director-President of Sindapp, the union representing closed pension entities in Brazil. Day-to-day administrative and financial operations are managed by Diretor Administrativo e Financeiro Luiz Augusto Britto de Macedo. Specific investment committee structures or delegation authorities for external managers are not publicly disclosed.

### What assets does SIAS invest in?

The fund's disclosed portfolio centers on two asset classes: Títulos Públicos Federais (Brazilian federal government bonds), which serve as the liability-matching core, and Fundos de Investimento Imobiliário (FII), publicly listed real estate investment funds covering commercial, residential, and logistics properties. Allocation sizes, specific fund names, and any additional private-market exposures have not been made public.

### How is SIAS related to the IBGE and AFUSI?

SIAS is a closed private pension entity established by AFUSI (Associação dos Funcionários do IBGE) to serve employees of the Brazilian Institute of Geography and Statistics. The IBGE acts as the plan sponsor, providing the participant base and institutional anchor. This employer-tied structure means SIAS manages benefits exclusively for current and former IBGE public servants.

### Under what regulatory framework does SIAS operate?

SIAS is an Entidade Fechada de Previdência Complementar (EFPC), a non-profit closed pension fund regulated by PREVIC (Superintendência Nacional de Previdência Complementar) rather than Brazil's securities regulator, CVM. This framework imposes fiduciary standards, investment concentration limits, and actuarial funding rules distinct from those applied to open-market fund managers.

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- [Siana Capital Management](https://altss.com/profile/siana-capital-management)
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Last updated: 2026-05-29T12:17:19.075Z

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