Digital Assets Report

Newsletter

Like this article?

Sign up to our free newsletter

Big banks gain as Brazil hedge funds go global

Related Topics

The globalisation of Brazil’s hedge fund sector is providing a boost to several big banks, including Goldman Sachs Group Inc, UBS Group AG and Deutsche Bank AG, as managers look to overseas investments to boost returns, according to a report by Bloomberg.

As Brazil’s hedge funds broaden their ‘outlook’ the bank’s global-markets units are seeing a boost in business by  providing liquidity, lending securities and executing simultaneous trades in different regions. 

Brazil-based asset management clients have upped their investment in US futures by 10% this year, according to UBS, while the report cites Ricardo Mora, co-head of Latin American the region at Goldman Sachs, as revealing that revenue from client-related businesses in the region has reached a record high this year. According to Mora, the global-markets division, which includes sales and trading and the prime-brokerage unit, was the main driver.

Brazil’s hedge fund industry has seen rapid growth over the last decade having more than tripled in terms of asset under management to around $300 billion.

Like this article? Sign up to our free newsletter

Most Popular

Further Reading

Featured