Investing
Brazil Hedge Fund Standout SPX Slumps to Worst Month in 12 Years
- Souring bets in FX and rates helped drive 11% drop in November
- Fund still up 33% this year, topping 99% of Brazilian peers
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The SPX Raptor fund, the best-performing Brazilian hedge fund in the past two years, stumbled to a record monthly loss in November, stung by souring bets on everything from currencies to commodities.
The fund, run by Brazilian hedge fund manager SPX Capital, tumbled 11% after fees, its biggest monthly decline since it was launched in December of 2010.