WEST PALM BEACH, FL (HEDGECO.NET) – Eurekahedge has announced the introduction of the world’s first dedicated Latin American Hedge Fund Directory and Latin American Hedge Fund indices. According tothe released information, the new index covers in excess of 171 funds. Eurekahedge monitors over 85% of one of the world’s emerging market sectors, including both off-shore and onshore indices withan estimated market value of US$16billion.
Eurekahedge said, �The number of new funds jumped over the past four years for two reasons: investment bank closures or mergers in Brazil have forced money managers to set up on their own and the increase of Brazilian onshore assets into alternatives has spurred managers to leave established houses. Success stories like Gavea and JGP have also been an inducement�.
According to Eurekahedge, the number of new funds in Latin America �Reached 37 in 2003 and we expect that number to be between 35 and 40 for 2004. We gather that the total hedge fund universe, both offshore and onshore, to be around 220 funds. The vast majority of Latin American hedge funds are based in Brazil and trading Brazilian assets. Of the entire universe, just over 50% is Multi-Strategy Macro, trading mainly three assets � bonds, equities and currencies; bonds (both corporate and sovereign) being the most heavily traded.�
Details of the South American hedge fund index includes: Multi-Strategy 52% Fixed Income 7% Other strategies include 1% Arbitrage 1% CTA / Managed Futures 2% Relative Value 3% Event Driven 3% Distressed Debt 8% Macro 4% Long / Short Equities 19%. According to Eurekahedge, most of the South American hedge funds are located in Brazil, and few are based in Buenos Aires.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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