Brazil Hedge Funds Miss Rally by Sticking to Debt
Wednesday, May 6, 2009 : PermalinkBloomberg – 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.
Tags: bovespa, investment-banks, rally, stock index
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