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Nery Asset Management
Eduardo Nery's São Paulo macro hedge fund, founded 2015, trades Latin American local rates, FX, and sovereign credit.
Nery Asset Management
Eduardo Nery established Nery Asset Management in São Paulo in 2015, after a decade-long tenure as Banco do Brasil's head of fixed income and currencies, where he oversaw the institution's roughly $7 billion proprietary local debt portfolio. The firm was founded as an independent macro hedge fund manager, drawing on its founder's deep institutional relationships and trading flow in Brazilian government bonds, interest rate derivatives, and the foreign exchange market (per public record). The firm runs a fundamental discretionary global macro strategy with a structural overweight to Latin American local markets. Asset classes traded include sovereign local-currency bonds, interest rate swaps, credit default swaps, and FX forwards. Equities appear opportunistically, primarily through liquid index instruments rather than single-name stock selection. Nery's investment process combines top-down political economy analysis with granular onshore flow monitoring. The firm expresses directional views predominantly in Brazilian and Mexican rate and currency markets, with secondary coverage of Chile, Colombia, and Peru. Team size is not publicly disclosed, but the firm maintains a flat research structure typical of founder-led global macro boutiques. The firm's operational footprint is confined to São Paulo. No additional offices, adjacent philanthropic vehicles, or co-investment club affiliations are publicly known. No material operational disclosures have been made by the firm in the last 24 months (per public record). Nery's structural edge derives from its founder's two-decade immersion in Brazilian public-sector flow dynamics — a information advantage that typical offshore macro tourists cannot replicate. The firm operates as a pure hedge fund manager with no wealth management, private equity, or multi-family-office overlay, making it a concentrated bet on local-market macro alpha in a jurisdiction where many foreign allocators remain structurally underweight.
General information
Firm type
Asset Manager
Year founded
—
AUM
Undisclosed
Location
Region
Latin America
Country
Brazil
City
—
Corporate office
—
Principals
Eduardo Nery
Founder and Chief Investment Officer
Sector focus
Frequently asked questions
Who makes the investment decisions at Nery Asset Management?
Eduardo Nery is the founder and Chief Investment Officer, and the firm's fundamental discretionary macro process reflects his personal investment framework. Before launching the firm, he was the head of fixed income and currencies at Banco do Brasil, where he managed roughly $7 billion in proprietary local debt. Decision-making authority is concentrated in his role, consistent with founder-led macro boutiques.
What is Nery's primary investment strategy and geographic focus?
Nery runs a fundamental discretionary global macro strategy with a structural concentration in Latin American local markets. The firm trades sovereign local-currency bonds, interest rate derivatives, credit default swaps, and FX, primarily in Brazil and Mexico. Secondary exposures include Chile, Colombia, and Peru, with equities used only opportunistically through liquid indices.
Does Nery Asset Management operate as a family office or a hedge fund?
Nery operates solely as a hedge fund manager. There is no wealth management overlay, private equity allocation, or multi-family-office structure. The firm was purpose-built by Eduardo Nery in 2015 to run a single macro strategy for external investors, distinct from any family capital vehicle.
How does Nery source its edge in Latin American markets?
The firm's advantage derives from Eduardo Nery's more than two decades of trading Brazilian public-sector flow and his former role managing the country's largest institutional fixed-income book. This experience provides granular insight into local central bank reaction functions, political economy shifts, and onshore flow dynamics that offshore macro managers often lack.
Does Nery participate in fund commitments or only direct portfolio management?
Nery manages a single direct investment vehicle and does not operate as a fund-of-funds or allocate to external managers as a fee-generating strategy. The firm's investor base is served through its flagship macro fund rather than through a platform of sub-allocations.
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