Pessoa在接受媒体时表示：“巴西应该在更高的利率、更低的增Hedge fund managers at one of Brazil's largest asset managers are trying to profit from the central bank's rate hike.
Legacy Capital Gestora de Recursos Ltda. Gustavo Pessoa, a portfolio manager and one of the founding partners, said the company had increased local fixed income and private credit investments, which would benefit from higher interest rates while reducing exposure to the Brazilian stock market. Earlier this month, Brazil's central bank raised interest rates most aggressively in nearly 20 years, raising its benchmark interest rate from 4.25 per cent to 5.25 per cent in an effort to curb soaring inflation.
Over the past few trading days, fiscal worries and political tensions have made it difficult to push for reforms to boost the economy, which have put pressure on Brazilian assets and led to a recent surge in the exchange rate. Legacy recently told clients that it had taken a composite position against the dollar / Brazilian real while betting on a fall in the benchmark Ibovespa stock index.
In an interview with the media, Pessoa said: "Brazil should have higher interest rates, lower growth andA balance is struck between greater political uncertainty. "
Legacy sees opportunities in the bonds of local bond companies, especially in sanitation, toll roads and telecommunications. Legacy was founded in 2018 by Felipe Guerra, Pedro Jobim, Jose Eduardo Araujo and Pessoa and manages about 20 billion reais (US $3.7 billion). According to Pessoa, the company also has a global equity portfolio and positions that benefit from high interest rates in the United States.
