Money Manager Apologizes on Twitter After Brazil Funds Crushed
- Funds face trial by fire after years of record-setting inflows
- Local industry champions had some of their worst losses ever
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The market chaos is leaving a trail of red in Brazil’s fund industry.
The best-performing money managers are reeling after the nation’s markets were especially hard hit by the global selloff. Some took to social media to try to appease anxious investors, who flocked to riskier products in recent years as Brazil’s benchmark rate hit an all-time low.