Brazil’s Gavea Pivots to Macro Amid Volatility Surge

Brazil’s Gavea pivots to macro amid volatility surge

Gavea Investimentos, the hedge fund founded by former Brazilian central bank governor Arminio Fraga, has shifted its investment strategy toward a more macro and global approach in response to rising volatility and challenging conditions for stock-pickers, according to a report by Bloomberg. The Rio de Janeiro-based firm has traditionally employed a bottom-up, fundamental stock selection model, but recent turbulence across emerging and developed …

Managing now priority focus more macro-economic and international, which led to the relocation of part of the team and the output of people from the company