Brazilian funds on brink of global go-ahead

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The world of Brazilian hedge funds is about to make a quantum leap. Brazil's authorities are expected at the end of April to allow that country's hedge funds to invest in instruments beyond Brazil's borders.

Previously, explains José Brazuna from ANBID, Brazil's Association of Investment Banks, Brazilian funds could only invest in local instruments. Brazuna notes 'multi-market' funds - Brazil's version of hedge funds - can leverage using derivatives (not by borrowing) and can short. "These fu