January 2007
Hedge funds: Brazilian fund bonanza piques foreign interest
“Retail demand in Brazil is getting used to the idea that the very high level of real interest rates will not be available in the near future.”
Foreign investors are becoming increasingly drawn to Brazilian hedge funds, attracted by the industry’s strong performance over the past few years. “This year, there’s been a really stark change in the market environment. Overseas investors were coming to Brazil in 2005 but it was really only in 2006 that they started to allocate money to hedge funds,” says Dara Chapman, relationship manager at Polo Capital in Rio de Janeiro, which has $220 million in offshore assets.
Behind this overseas interest lie three years of high returns....
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