TechFlow news, November 12 — According to Bloomberg, Brazil's prominent hedge fund Verde Asset Management disclosed in a report to clients on Monday that it established a small bitcoin position prior to the U.S. presidential election vote on November 5. The exact size of the position was not revealed. The fund is managed by industry veteran Luis Stuhlberger.
Data shows that the firm’s main fund declined 0.18% in October after fees. In comparison, the CDI interbank benchmark rose 0.93% during the same period, while a basket of domestic hedge funds gained 0.29%. Year-to-date, Verde has outperformed the Anbima hedge fund index by over two percentage points. Verde currently manages approximately 19 billion reais ($3.3 billion), down from 20 billion reais one month ago.
