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Montevideo, June 20th 2019 - 07:54 UTC

Tag: XP

  • Monday, May 6th 2019 - 09:34 UTC

    Brazil's best performing hedge funds bet heavily on Petrobras

    “The stock is cheap,” Braga said in an interview at XP’s Sao Paulo offices.

    One of Brazil’s best-performing hedge funds has been scooping up the shares of state-controlled oil giant Petrobras. Joao Braga and Marcos Peixoto, who manage US$ 1.3 billion (5 billion reais) at XP Asset Management, have increased their stake in Petrobras, making it the biggest holding of their XP Long Biased fund even as the oil producer’s rally has outpaced the benchmark.