Hedge Fund Starts a Quant Trading Desk in Brazil Comeback Bid
- Giufrida’s Garde creates five-person quantitative-trading desk
- Flagship fund had lost half its assets in little over a year
Photographer: Maria Magdalena Arrellaga/Bloomberg
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Marcelo Giufrida is drawing inspiration from Jim Simons’s Renaissance Technologies LLC as he works to lure investors back to his Brazilian firm’s flagship hedge fund.
Giufrida’s Garde Asset Management Ltda. put together a five-person team to start a quantitative-trading desk, partially inspired by Renaissance and other global hedge funds that have been successful with the approach, he said in an interview. The launch is part of a comeback bid for the fund, the Garde D’Artagnan Master, which lost half its assets in little over a year.