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Big banks gain as Brazil hedge funds go global

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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.

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