Wednesday, 6 May 2015
Last updated 13 hours ago
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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…