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Story summary
- GQG Partners co-founder Rajiv Jain says he may buy Brazilian equities after Lula’s surprise re-election.
- Brazilian markets plunged Monday, with the Ibovespa falling up to 17% and triggering a circuit breaker.
- GQG’s emerging-market fund returned less than 2% YTD versus a 14% benchmark gain.
- GQG boosted its Petrobras stake in 2022, becoming the firm’s biggest private shareholder.
- Petrobras has returned more than 285% in dollar terms since GQG’s 2022 investment.
