Brazil Banks Poach Hedge-Fund Stars as Industry Boom Goes Bust

Arminio Fraga, one of Brazil’s most-famous hedge-fund investors, spread the word earlier this month that he was turning his funds over to the country’s fourth-biggest bank. Brazil’s double-digit interest rates simply generate too high a return nowadays to lure enough clients to keep a fund like his open any longer, he conceded.

Read it at Bloomberg Markets ↗

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