Luis Stuhlberger’s Verde FIC FIM commentary for the month ended July 31, 2016.
Translated using Google Translate
Verde FIC FIM had gains on stock holdings, especially in the global share, which benefited from strong high markets. The portion of shares in Brazil was marginally positive, the result of good selection of papers, despite the net exposure zeroed throughout the month. Moreover, the fixed income book made gains with exposure in real interest, while the currency book had losses with the position in Dollar against the Chinese Renminbi.
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Global markets continue to seek a balance between very low interest rates, central banks with permanent finger on the trigger for more stimuli, and economies that do not seem in bad situation (on the contrary). There is evidence that small bubbles are forming localized, especially in traditionally defensive portions of global stock markets, but it still seems early for that cause major problems. We remain concerned about the complacency of most investors about the Chinese economy, and the consequences for asset prices in emerging markets included Brazil.
Breakdown – Fund Results
Verde FIC FIM – Summary Management
Multimarket strategy flagship launched in 1997, is one of the largest and oldest Brazilian hedge funds. It operates in the Brazilian and international stock market, fixed income and currencies under the management of Luis Stuhlberger.
Fund for the general public, subject to the minimum values of initial application, permanence and constant movement in the prospectus.
The fund Verde FIC FIM is a result of a spin-off held on 21/May/2015 CSHG background Verde FIC FIM, which began on 2/Jan/1997.