In Brazil, firms such as Genoa Capital Gestora de Recursos are reaping the rewards. Launched in June, the firm’s hedge fund amassed almost 7 billion reais for its flagship investment vehicle within two months of its inception, and is now closed for new investments. Founded by Andre Raduan, Mariano Steinert and Emerson Codogno, veteran traders at Itau’s asset-management unit, the fund charges 1.9% to 2.5% in management fees and 20% in performance fees.

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