Assets under Management – R$ million

2005 2004

June March June

Investment Funds 96,024 91,730 78,059

Managed Portfolios 7,583 7,458 8,757

Third-Party Funds 4,883 5,569 1,860

Total 108,490 104,757 88,676

Asset Distribution – R$ million

2005 2004

June March June

Investment Funds –

Fixed Income 93,368 88,812 75,579

Investment Funds –

Variable Income 2,656 2,918 2,480

Investment Funds –

Third-Party Funds 4,712 5,391 1,737

Total 100,736 97,121 79,796

Managed Portfolios –

Fixed Income 5,840 5,583 6,561

Managed Portfolios –

Variable Income 1,743 1,875 2,196

Managed Portfolios –

Third-Party Funds 171 178 123

Total 7,754 7,636 8,880

Total Fixed Income 99,208 94,395 82,140

Total Variable Income 4,399 4,793 4,676

Total Third-Party Funds 4,883 5,569 1,860

Total 108,490 104,757 88,676