Record $57 Billion Outflow Hits Battered Brazil Hedge Funds

(Bloomberg) -- Investors yanked money out Brazilian hedge funds at a record pace in 2024 as rising interest rates and a crumbling of local markets fueled a second year of underperformance for the struggling industry. Most Read from Bloomberg The stampede — almost 357 billion reais ($57.3 billion,) more than the past two years combined and the worst-ever in data going back to 2002 — comes as investors flock back to fixed income. Policymakers delivered three rate hikes in 2024 and pledged at..