FUNCEF - Federal Economists Foundation - is the third largest pension fund in Brazil and one of the largest in Latin America. Entity Closed for Complementary Social Security, non-profit and with administrative and financial autonomy, was created based on Law 6,435, dated July 15, 1977 , with the purpose of administering the supplementary pension plan of CAIXA's employees. Today it has total assets of more than R $ 61.7 billion and approximately 135 thousand participants.

The Foundation is governed by the specific legislation of the sector, by its Statute , by the Regulations of Benefit Plans and by management acts, such as the Code of Corporate Conduct and the  Code of Best Corporate Governance Practices . Its resources are invested in diverse areas that are divided into: fixed income, variable income, structured investments, real estate and operations with participants. These investments guarantee the payment of the benefits of its participants and, as it applies its resources in the country, FUNCEF, as an institutional investor, plays an active role in national development.

FUNCEF was the first pension fund in the country to adhere to the Stewardship Code. The code brings together a set of governance principles and recommendations for institutional investors - stewards in market jargon - who are responsible for managing third-party assets. Still without a Portuguese translation, Stewardship summarizes the concept of fiduciary duty: the obligation assumed by these investors to act in the best interests of their clients / investors.