Copernico, which started as a vehicle for Argentina’s recovery play, is now mostly invested out of the country and looking to the rest of Latin America for returns. Copernico is a low-risk hedge fund, investing mainly in fixed income: its Latin America fund has returned just over 14% a year since inception in 2003, with an annualized volatility of 3.75%.
Copernico founding partner Ricardo Maxit says the current stock-market correction is likely to continue, and he is even shunning local-currency bonds.
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