BTG Pactual Eyes Dividend Dislocations

Dividends remain an attractive asset class to BTG Pactual this quarter as a result of dislocations created by structured products, which came under pressure amid equity weakness in the fourth quarter. Some of those market moves were painful for structured products desks, which led to forced de-risking, creating an attractive entry point for dividends versus the firm’s estimates, says BTG Pactual’s Alfred Mallol.