In the last momentseveral companies have launched products on the Uruguayan market to invest in trusts, bonds or pools linked to different links in the cattle breeding and fattening business, which offer returns ranging from 7% to 11% per year in dollars. If you compare it with what a Uruguayan government bond yields in dollars to 2031 (2.7% per year), for example, or a 10-year US Treasury bond (1.9%) —considered a bond-free paper risk—these are more than attractive returns for those who intend to get the most out of their savings or capital. However the Central Bank of Uruguay (BCU) issued a warning to the general public and savers who invest in this type of product and called on them to take precautions because they are instruments that are not regulated, so they are exposed to a higher risk.
“The public in general and savers in particular are informed that the existence of advertising carried out through different mass media has been verified (television, radio, newspapers, web pages, social networks and other media), summoning to invest or save, in cattle or in agricultural products and in some of the cases that have come to the attention of this Central Bank, a fixed minimum return is offered,” says a communication issued by the regulator of the financial system this Wednesday, February 3.
In this sense, the Superintendency of Financial Services of the BCU “considers it necessary to make it known that The companies that offer this type of products or investments are not registered in their registries and consequently are not subject to their regulation and control.“.
The BCU suggested that, at the time of investing and in order to find out if the company or the product offered are registered or have authorization to operate by the Superintendency of Financial Services be consulted in the records available on its website.
