On November 12th, Brazilian hedge fund Verde Asset Management stated in a report to clients on Monday that it had established a small position in Bitcoin prior to the November 5th US presidential election, with the specific size of the position remaining undisclosed. The fund is managed by industry veteran Luis Stuhlberger. Data shows that the fund's main fund fell 0.18% in October after deducting fees. In contrast, the CDI interbank benchmark interest rate rose 0.93% during the same period, and a basket of local hedge funds rose 0.29%. So far this year, its performance has been more than two percentage points higher than the Anbima hedge fund index. Verde currently manages assets of approximately 19 billion reais ($3.3 billion), which is lower than 20 billion reais a month ago.