Brazil’s hedge fund industry suffered its weakest monthly performance in six years in March, as a sharp repricing in global interest rates – driven by surging energy prices – unravelled widely held macro positions across local managers, according to a report by Bloomberg.
A basket of Brazilian hedge funds tracked by the national capital markets association declined 3.4% over the month, marking the worst collective performance since the early pandemic period in 2020. The move contrasted with a 1....
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