Polo Capital

Polo Capital | Hedge Fund Notes

The following piece on Polo Capital Gestao de Fundos is being published as part of our daily effort to track hedge funds in the industry. To review other hedge fund research notes please see our Hedge Fund Tracker Tool.

Resource #1: (8.3.09) Marcos Duarte, co-founder of the $1 billion hedge fund Polo Capital Gestao de Fundos Ltda., is buying more Brazilian homebuilder shares even after the stocks more than doubled this year.

Duarte said the Rio de Janeiro-based firm is buying real estate developers Klabin Segall SA and EZ Tec Empreendimentos e Participacoes SA, adding to bets on the industry that helped his 659 million-real ($348 million) Polo Norte Multimercado LP fund outperform 96 percent of its peers in 2009.

The 12-stock BM&FBovespa Real Estate Index has surged 135 percent this year, rebounding from a 69 percent plunge in 2008 that dwarfed the Bovespa index’s 41 percent decline. Homebuilder stocks will keep rising on speculation improving credit markets, record low interest rates and President Luiz Inacio Lula da Silva’s 34 billion-real plan to build a million homes for low- income workers will boost housing demand, Duarte said. Source

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