According to Odaily, Brazilian hedge fund Verde Asset Management has disclosed in a report to clients that it has established a small position in Bitcoin ahead of the U.S. presidential election scheduled for November 5. The specific size of the Bitcoin position has not been revealed. The fund is managed by industry veteran Luis Stuhlberger.
In October, Verde's main fund experienced a decline of 0.18% after fees. This performance contrasts with the CDI interbank benchmark rate, which rose by 0.93% during the same period, and a basket of local hedge funds, which increased by 0.29%. Despite the recent downturn, Verde's performance this year has exceeded the Anbima Hedge Fund Index by more than two percentage points.
Currently, Verde Asset Management oversees approximately 19 billion Brazilian reais (equivalent to 3.3 billion USD), a decrease from the 20 billion reais managed a month earlier.
