Boletim de Fundos de Investimentos

Investment fund industry has inflows of R$ 35.4 billion in March

March was marked by uncertainties amid the economic impact of Covid-19. Still, the fund industry had capital inflows of R$ 35.4 billion in the period. In the first quarter, the segment reached R$ 83.8 billion in net inflows, up 120% from the same period in 2020.Net Inflows per Class.PNG

Credit Receivables Investment Funds, or FIDCs, showed the largest inflows in the Agribusiness, Industry and Commerce type: R$ 12.6 billion. In the year to March, FIDC - Agribusiness, Industry and Commerce attracted R$ 17.5 billion. The figure reflects a R$ 10.8 billion net inflow in March from the most representative fund within this type, reaching R$ 17.7 billion in 2021. In the same period of 2020, this fund had net outflows of R$ 6.3 billion.

The Fixed Income class received R$ 12.1 billion in March, totaling R$ 61.4 billion in the year through March. In this class, the Short Duration Sovereign type had net inflows of R$ 22 billion in March. In both periods, the balances were driven by concentrated moves, especially in short-duration funds.

The Equity class had net inflows of R$ 6 billion in March but still shows outflows of R$ 11.2 billion in the year-to-date figure. Two unusual events explain the most recent balance, in particular the amortization (R$ 43.9 billion) of a pension fund (reduction effect) and the change in the class from a FIP fund to Equity (increase effect) with net assets close to R$ 20 billion. This means that nearly R$ 13 billion were dispersed moves. Among types, the Equity - Free Portfolio had net inflows of R$ 3.6 billion in March.

The Balanced-Mixed class ended March with net inflows of R$ 5 billion, reaching R$ 24.6 billion in the year, behind only the fixed-income segment. The class had 4 out of 11 types with net inflows in March, with Balanced-Mixed - Free and Foreign Investment attracting the largest chunks, with R$ 3.8 billion and R$ 3 billion, respectively.

As for returns, considering types with the largest net assets in each class, the Fixed Income - Short Duration Sovereign (with R$ 548.8 billion in net assets) gained 0.15% in March and 0.34% int the year. In the Equity class, most types had gains in March (11 of 12); the Equity - Free Portfolio (net assets of R$ 278 billion) yielded 2.60% in the period while still down 0.23% in the year to March. In the Balanced-Mixed class, Foreign Investment (R$ 588.3 billion in net assets) gained 0.97% in March and is up 2.71% in 2021.Returns Largest Net Assets in the Class.PNG