(Reuters) Verde Asset Management, Brazil’s largest hedge fund, reinforced larger-than-benchmark bets on a weaker real, rising global equities and higher domestic borrowing costs, underscoring expectations that local asset prices will keep trending down in dollar terms.
In a monthly letter to investors last week, money managers led by Luis Stuhlberger said Verde is long-positioned in U.S. dollars and global equities by 40 percent and 20 percent, respectively, with no net allocation to local shares.
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