(Reuters) Gávea Investimentos Ltda, the hedge fund run by former Brazilian central bank President Arminio Fraga, posted higher returns in April after scrapping bets against domestic assets on optimism that a possible change of government could jump-start Latin America’s largest economy.
Money managers at Rio de Janeiro-based Gávea also stepped up bets on Mexico’s peso and began small purchases of Argentine assets, they said on Thursday in a monthly letter to investors.
