Bonds, currencies propel gains in Brazil fund Verde in March

April 9, 2015 11:15 PM

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SAO PAULO, April 9 (Reuters) - Verde Asset Management, Brazil's largest hedge fund with over 30 billion reais ($9.8 billion) under management, posted the highest return in six months in March as bets on a stronger U.S. dollar and rising borrowing costs in the country paid off.

In a letter to investors on Thursday, Verde money managers led by Luis Stuhlberger said that the fund's currency positions changed with volatility, selling dollars before the Brazilian real gained while adding more of the U.S. currency as the real strengthened.

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