(Bloomberg) Pavel Mamai was in South Africa last year when he got a tip: President Jacob Zuma was locked in a feud with his finance minister. The feud turned into a firing, the firing turned into a selloff — and Mamai’s subsequent purchases help explain why the fund has returned almost 10 percent since inception as peers lost money. Now, the co-founder of ProMeritum Investment Management sees similar opportunities in Turkey, Ukraine and, yes, even South Africa once again. London-based ProMeritum, Latin for “gain” or “deserve,” is all about profiting from agitation, Mamai says. The fund run by the emerging-market debt firm manages about $267 million.
Hedge Fund Bets on ‘Disruption’ in Riskiest Emerging-Market Debt
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