Hedging Griffo's $1.5 billion HG Green Fund put together a very respectable January given the turbulence in most equities markets, logging a gain of 0.48%. By comparison, the Absolute Return Latin American Equity Index dropped 0.36%.
As the year got underway, HG Green had a relatively low net exposure, though it increased its long positions later in the month, reaping the benefit of the Fed's emergency rate cut. Carry trades involving the Brazilian real were also profitable.
HG Green, managed by Luis Stuhlberger, is coming off its best year since inception, having returned 42.77% in 2007. The fund allocates