Performance

Latam equities: Everest stumbles

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Hedge funds investing in Latin America equities gained a median 0.72% in January, according to the new Absolute Return Latin America Index. Heads above its rivals was Greencay Emerging Markets Fund, which returned 6.65%. Brazil-based Bresser's Mercury Fund Class - Hedged Equities also did well, reporting a net gain of 4.2%. After steadying itself in the final quarter of 2006, Everest Capital Emerging Markets Fund got off to a poor start. Impeded by investments in Brazil's banking and telecommunications sectors, the fund clocked a loss of 3.15% for the first month of the year. Among January's worst performers: