(Karla Spotorno)– As of this Thursday (27), investment platforms begin to receive application scheduling requests in one of the hedge funds gives Green Asset, by manager Luis Stuhlberger. It is the Verde AM X60 that has remaining quotas in some distributors, such as XP and BTG pact.
The fund remains formally closed for funding. In other words, the manager of Stuhlberger is not increasing the equity of this multimarket by receiving new resources. What is being done is a replacement. In market jargon, it is a “capacity replacement” or balance replacement.
The “capacity” is the amount of equity in a fund defined by the manager to keep the portfolio’s return within the expected range. Still, investment advisers pointed out that the funding window is an opportunity to enter the fund, which was left with vacant quotas after a 2021 that challenged multimarket managers.
Applications can be scheduled at distributors starting today. Settlement of transactions depends on each platform. At XP, for example, the fund has a minimum investment of R$ 50 thousand, according to the company’s website, and a redemption period of 60 days.
Today Dynamo made a formal opening of the Cougar fund for fundraising. In a relevant fact, it announced that it intends to raise up to R$ 1.1 billion. This is the second time in ten years that a carioca manager has opened one of its main funds for the entry of new resources.
Redemption in 2021
The flagship of Stuhlberger’s manager, the multimarket segment suffered last year with robust net redemptions. According to data from Brazilian Association of Financial and Capital Markets Entities (Anbima), there was a net outflow of BRL 788.21 billion from the manager’s multimarket funds in 2021. In the year, however, the manager was positive. Between funding and redemptions, Verde had a positive balance of R$ 5.075 billion.
The fund comes from a company with negative returns. In 2021, the return was -1.58%. But in previous years, the shareholders left with greater equity. In 2020, the yield was 3.34%. In 2020, 12.2%. And in 2018, when it was created, 3.51%.
This multimarket has a macro strategy and a predominantly domestic focus, despite having international exposure. The mandate allows investment in interest in Brazil and international interest, currencies and shares. The mandate also allows for investments in commodities, High Grade and High Yield credit.
Opening for funding in 2021
Last year, Luís Stuhlberger opened for new fundraising and was very successful. In January, the manager raised R$ 5.6 billion, according to a report by the broadcast, and even surpassed the positive balance of the largest managers in Brazil and linked to large banks.