The Vista Multistrategia Fund, one of Brazil’s top-performing hedge funds, posted a record 13% loss in September as oil prices plunged and global interest rates surged, according to a report by Bloomberg.
The loss by the fund, which is managed by Rio de Janeiro-based vista capital, was the fund’s biggest since its launch in 2015.
The report cites an investor note as revealing that the Vista admitted being “significantly wrong” in its decision to use positions set to benefit from falling international rates as a hedge to protect its core bet on rising oil prices.
Despite the record monthly loss, the fund remains up 34 per cent so far this year, ahead of 98% of peers, and 99% of them over a two-year period.
