Brazilian hedge funds trounce competition

Washington Post – They arrive every week, in ones and twos and groups of 10, some of them coming straight from Sao Paulo, Brazil’s international airport. These investors head for the dark-wood halls of Credit Suisse Hedging-Griffo as supplicants, asking to put their millions into one of the world’s top-performing hedge funds.

The answer from the fund’s managers is often a polite but firm no. Hedging-Griffo’s Verde fund has returned an annualized average of 33 percent since 1997. One American offered to sign a contract that wouldn’t allow him to ask for his cash back for three years, says Luiz Paulo Parreiras, strategist for the firm.

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