Some of Brazil’s highest profile independent hedge funds have gurned to gold to protect their portfolios from the market turmoil caused by Russia’s invasion of Ukraine, according to a report by Bloomberg.
Some of Brazil’s highest profile independent hedge funds have gurned to gold to protect their portfolios from the market turmoil caused by Russia’s invasion of Ukraine, according to a report by Bloomberg.
Legacy Capital, SPX Capital, and Capital Investimonetos are all reported to have adjusted their positions with the first two increasing their holdings in precious metals and the latter closing its bet against gold.
Ibiuna Investimentos meanwhile is said to have backed the Brazilian real, which strengthened roughly 3 per cent last month on the back of increases in the price of raw materials and domestic interest rates.
