Brazilian Hedge Funds Bounce Back In April

May 7 2010 | 3:21am ET

After a disappointing first quarter, Brazilian hedge funds have gotten off on the right foot in the second quarter.

Investors poured 3.4 billion reais (US$1.9 billion) into hedge funds, according to Anbima, Brazil’s national capital markets association. That more or less wipes out the first quarter outflow the industry suffered of about 3.5 billion reais (US$1.9 billion).

The official figure for redemptions in the first three months of the year was 5.7 billion reais (US$3.1 billion), but that includes two categories of funds that have since been reclassified.

The first-quarter redemptions ended a solid year of positive flows for Brazilian hedge funds, and coincided with an average 6.8% loss in January. But the industry has bounced back since then, retirned 8.8% from February through April.


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