The idiotic hedge fund’s name is GWI Asset Management. Its general partner/manager’s name is Mu Hak You, a Korean investor. Dont forget his name.
In summary, they were extremely leveraged on Marfrig’s stock and lost a whopping 70% only in August because of margin calls – they were forced to close/liquidate their 8 funds. GWI Asset Management was forced to close its funds for at least the second time since 2008 after the global market rout crushed the firm’s leveraged equity bets (here is another idiotic move from the same guys circa 2008, when the guy lost 40% in one month). “Investors in the fund were called to inject money in the fund after its asset value turned negative”, BNY (the fund administrator) said. According to Exame magazine (through Google Translate):
Here is the hedge fund’s “magnificent” strategy: GWI purchased Marfrig stock with funds borrowed from brokers with a deposit margin of only 17% of the amount invested. Thus, when the stock price tanked, the company needed more resources to cover its margin. By failing to do so, the shares were liquidated., Socopa Brokerage said.

Full articles here and here

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