Brazilian Hedge Funds Bounce Back With Big Returns, Inflows

Oct 28 2009 | 12:38am ET

Hedge funds have become the most popular place for new investment in Brazil as the country’s industry posts some of the best hedge fund returns in the world.

Brazilian hedge funds took in 36.3 billion reais (US$21 billion) in inflows during the third quarter. That brings the industry’s year-to-date net inflow to 33.7 billion reais (US$19.4 billion), according to preliminary figures from the National Association of Investment Banks.

What’s more, Brazil’s hedge funds have taken in more money than any other fund group in the country this year. That’s almost certainly due to their enormous success this year: According to Bloomberg, the average Brazilian hedge fund is up 44% through the middle of October. Globally, the average hedge fund has returned something closer to 19%.

Last year, when Brazilian hedge funds lost 15% on average, the industry suffered 54.6 billion reias (US$31.5 billion) in net redemptions.

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