By Jessica Bahia Melo
Investing.com – Asked during Expert XP’s panel if it should reach 10% or R$6 first, Luis Stuhlberger, manager of Fundo Verde, CEO and CIO of Verde AM, says that neither of the two scenarios should happen anytime soon and that thinks “very unlikely that the dollar will go to R$6 now”.
“Neither is likely now, but not for economic reasons, right? I think something like this could happen if there was a really strong escalation of political tension,” believes Stuhlberger.
According to the manager of Fundo Verde, one of the largest and oldest Hedge Funds in Brazil, the sell off market is exaggerated. “What has in conjunction with this is the exacerbation of tension between the powers”, he ponders. Still, for Stuhlberger, the interest rate today is extremely attractive. “Today, interest rates in Brazil are good in the absolute and negative. If long-term interest rates converge to 3.5% to 4%, only then in stock assets or REITs, there is a 15% gain, an equalization of interest to what it was before the pandemic”, he adds.
Luiz Parreiras, Manager of Multimarket Strategy and Social Security at Verde AM, who was also at the debate, said that the market was cheaper, but still not enough to substantially increase the positions. “It is cheaper to increase some things on the margin, I would say yes”, he comments.
Assets to have in the portfolio now, according to the managers
Stuhlberger stated that he always manages an asset mix composed of 30% of Brazilian shares and that, with the rise in interest rates, they made an increase in B-24 () and B-28 (). “I’m waiting to extend it again, because I think that at a time of political tension, the award would not be enough”, highlights the manager. Parreiras said that he also likes these assets, but among his favorites are Vale’s participatory debentures (SA:).
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