(Bloomberg) -- Arthur Steinmetz, manager of the best- performing international bond fund in the U.S., is buying more Brazilian debt during what he calls the country's ``golden age.''
The $6.7 billion Oppenheimer International Bond Fund has 6.7 percent of its assets in Brazil, the second-biggest stake after the U.S. The Brazilian real's 74 percent increase since 2003 propelled Steinmetz's fund to average annual returns of 14.6 percent in the past five years, the most among 10 competing mutual funds that buy debt globally, according to data compiled by Bloomberg.
Read more at Bloomberg Bonds News
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