“The (very) low interest rate environment is coming to an end,” is the opinion of Axel Christesen, BlackRock´s Executive Director for South America excluding Brazil. His view is very relevant as BlackRock is the world’s largest asset manager with US$3.792 trillion assets under management across equity, fixed income, cash management, alternative investment, real estate and advisory strategies. In many instances, his company is not a participant in the market, it is a crucial force in the market.