Bruno Magalhaes, a former portfolio manager at Autonomy Capital Research, is to join Brazilian hedge-fund major SPX Capital, after shutting down the hedge fund he helped launch in Brazil just two years ago, according to a report by Bloomberg.
The report cites a note sent to investors and seen by Bloomberg, as revealing that Sterna Capital, which has over BRL60m in assets, is planning to return money to clients after industry-wide redemptions and double-digit interest rates hits its growth plans.
Magalhaes is now set to take up a position as a portfolio manager for macro funds at SPX in early 2024, according to a Bloomberg source. In his new role, he will be responsible for a new book of multi-asset strategy, placing onshore and offshore bets.
