Latin American institutional assets under management are expected to grow by two thirds and reach $2 trillion (€1.5 trillion) in five years, according to Merrill Lynch analysts.

Institutional assets in the six largest Latin American economies, including Brazil, have grown at 29% a year, from $356bn in 2002 and are expected to reach $1.2 trillion by the end of this year, says the bank's Latin American cross-asset strategy report.