Traders Pile Into Boutique Cuba Fund in Bet on Biden Detente
Dec 12 2020, 5:23 AM
December 11 2020, 10:31 PM
December 12 2020, 5:23 AM
(Bloomberg) -- A niche fund that investors use to wager on the opening of Cubaâs economy is emerging as one of the winners from Joe Bidenâs election.
(Bloomberg) -- A niche fund that investors use to wager on the opening of Cubaâs economy is emerging as one of the winners from Joe Bidenâs election.
The $43 million Herzfeld Caribbean Basin Fund, ticker CUBA, has soared 33% since the U.S. vote, trouncing the returns of the MSCI Emerging Markets Index (12%) and S&P 500 Index (9%). The fund is headed for its sixth straight weekly gain, and November marked its largest monthly advance in 11 years.