Brazil Hedge Funds Miss Rally by Sticking to Debt

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Brazil Hedge Funds Miss Rally by Sticking to Debt

Wednesday, May 6, 2009 : Permalink

Bloomberg – Brazilian hedge funds that survived the Bovespa stock index’s record tumble last year by loading up on debt are missing out on a 2009 rally.

All four classes of Brazilian hedge funds, known as multimercados, had a weighted return of less than 5 percent through April 28, according to the National Association of Investment Banks, or Anbid. The Bovespa rose 22 percent in the year through April 28 and 35 percent through today.

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bovespa, investment-banks, rally, stock index

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Brazil Hedge Funds Miss Rally by Sticking to Debt

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