Markets: Rio de Janeiro
Key Facts
—Decision. Gávea Investimentos, founded by former Central Bank president Armínio Fraga, is exiting its Gávea Macro family of multimarket (hedge) funds and abandoning the strategy.
—Mechanics. The five affected funds, including pension portfolios, will be transferred to Bradesco Asset, subject to approval by shareholders in coming assemblies.
—Track record. The firm thanked clients for their confidence over the past 23 years; the flagship Gávea Macro FIF has trailed the CDI benchmark since 2023.
