{
  "id": 15980493,
  "title": "The funds that gained from the October rally – and have already reduced exposure",
  "url": "https://urgent.news/2026/10/22/os-fundos-que-ganharam-com-o-rali-de-outubro-e-ja-reduziram-a",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-22T00:52:00.000Z",
  "source": {
    "name": "Brazil Journal",
    "slug": "brazil-journal",
    "url": "https://braziljournal.com/os-fundos-que-ganharam-com-o-rali-de-outubro-e-ja-reduziram-a-exposicao"
  },
  "original_language": "pt",
  "account": "Brazilian investment funds, particularly those focused on stocks and multiple markets, saw significant gains in October following the first round of the presidential election. Funds such as those managed by BTG Pactual, Legacy, IP, and Absolute were among the top performers, with returns driven by the closure of the interest rate curve and a surge in the stock market. However, some of these managers are now taking profits and reducing risk exposure ahead of the second round of the election, citing decreased asymmetry between risk and return. The Outliers Advisory survey reported that 46% of multimarket funds have outperformed the CDI benchmark so far this year, up from 30% through September.",
  "summary": "The closing of the yield curve and the rise in the stock market – especially in stocks sensitive to a reduction in interest rates – after the first round gave a great boost to the performance of equity and multi-market funds in October. But some of the managers who made the most money in the month – BTG Pactual, Legacy, IP and Absolute – do not expect a rally of the same magnitude next week.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}