An asset-management fund in the Equilor group of companies part-owned by outgoing Hungarian Prime Minister Viktor Orban¡¯s son-in-law profited from financial-market bets on the strongman losing power.
Equilor Asset Management said it had amassed a ¡°significant overweight¡± stance in government bonds and, right before Hungary¡¯s election on April 12, in local stocks. The wagers paid off as the opposition Tisza party¡¯s landslide victory extended a rally in the country¡¯s assets.
While the ownership structure of the fund-management boutique is opaque, it operates from the same office as Equilor Investment Ltd., a broker controlled by Istvan Tiborcz, the husband of Orban¡¯s oldest daughter. The firms also promote themselves as one group to clients.
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