Argentine President Mauricio Macri got an unexpectedly strong show of support in a nonbinding primary election, dealing a setback to former President Cristina Kirchner’s plans for a comeback.
Dallas-based Highland Capital Management LP is set to buy and expand an Argentina-focused hedge fund previously managed by Argentine fund firm MBA Asset Management, according to a person familiar with the situation. Highland plans to base the fund out of a new Buenos Aires office and keep its portfolio manager, Andres Pitchon. The source said that Highland plans to position the fund conservatively ahead of the country's October midterm elections in which former President Cristina Fernandez de Kirchner will run for senate.
The Merval Index, Argentina's benchmark index, has risen about 10.5% so far in 2017 as of June 23.