Top Hedge Fund Sees Bargains in Brazil Retail, Health Stocks
- Verde Asset Management on the hunt for value amid rally
- Brazil’s cyclical growth, low rates support optimistic view
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At the height of Brazil’s recession, Pedro Sales was uncomfortably sitting on a pile of cash at the nation’s biggest independent fund manager.
“We had a high degree of certainty Brazil was going bust so I kept 50% cash in our equity funds, a total outlier,” said Sales, a Verde Asset Management SA partner, who manages local equity investments.