May 19, 2017 / 6:29 PM / a year ago

Brazil fund Alaska Black lost 28 pct in Thursday market selloff

SAO PAULO, May 19 (Reuters) - Brazilian hedge fund Alaska Black, managed by Alaska Investimentos Ltda, lost 28.02 percent on Thursday, a manager told Reuters, as a political scandal threatening President Michel Temer hammered the country’s financial markets.

The fund, formally known as Alaska Black FIC FIA - BDR Nível I, posted the best yearly performance in 2016 among those tracked by Thomson Reuters, yielding 129.2 percent.

According to manager Henrique Bredda, around half of Thursday’s losses came from transactions involving different maturities in the yield curve. (Reporting by Bruno Federowski; Editing by Daniel Flynn)

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