Falling Rates Drive Best Month for Brazil Hedge Funds Since 2007
Brazilian assets managers are sticking to bets on falling interest rates after those helped fuel the best month on record for the local hedge fund industry.
A hedge fund index known as IHFA, created by capital markets association Anbima, rose 4% in the past month, its best performance since records began in 2007. The reference CDI overnight rate gained 1.1% in the span, marking the first time since November that Brazilian portfolio managers beat their benchmark.
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