Rio Hedge Fund Novus Seeks Fourfold Growth to Reach Big Leagues
- Can get to $1.6 billion in two years on strong Brazil inflows
- Flagship fund Novus Macro prepared for shift to equities
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Rio de Janeiro-based hedge fund Novus Capital is preparing to grow nearly fourfold in the next two years on the expectation Brazil outshines other emerging markets and attracts a flood of inflows.
Novus currently manages 1.6 billion reais ($360 million) and has enough traders and analysts to handle 6 billion reais, Joao Feijo, the head of investor relations, said in an interview. The result of a 2018 merger between Modal Asset and Flag Asset, the fund has even greater ambitions: it wants to reach 10 billion reais and join the ranks of Brazil’s biggest asset managers. To get there it will need to expand its 23-member team, Feijo said.