PANews reported on November 12 that according to Bloomberg, Verde Asset Management, a well-known Brazilian hedge fund, stated in a report to clients on Monday that the company had established a small Bitcoin position before the US presidential election on November 5. The specific size of the position has not yet been disclosed.
The fund is run by industry veteran Luis Stuhlberger. Data shows that the company's main fund fell 0.18% after fees in October. In contrast, the CDI interbank benchmark rate rose 0.93% over the same period, and a basket of local hedge funds rose 0.29%. So far this year, its performance has been more than two percentage points higher than the Anbima Hedge Fund Index.
Verde currently manages about 19 billion reais ($3.3 billion), down from 20 billion reais a month ago.
