The Investment objective is to achieve substantial returns by taking directional bets in different asset classes and utilizing different instruments (including derivatives) in Latin American markets, mostly in Brazil. A substantial part of the fund P&L comes from long term thematic bets. The investment process is essentially fundamental-driven. Idea generation combines a top-down macro analysis and a bottom-up micro analysis coming from the equity team. The team comprises one portfolio manager, two traders/analysts and one economist, out of which two are partners of the firm. There exist synergies between the multi-strategy team and the equities team who runs a separate strategy. An advisory board, composed by prominent ex-central bankers, helps in the discussion about macro themes. All investment professionals are compensated on the basis of the fund performance.