The mutual fund industry saw outflows for a fifth consecutive month in March, this time losing R$42.9 billion, which raises the net selling to R$82.1 billion in the year and to R$257.5 billion in 12 months. Among the ANBIMA classes, only the FIDCs (Credit Receivables Investment Funds) and the FIPs (Private Equity Funds) had inflows. The three top classes – Balanced-Mixed, Fixed Income and Equity – faced net redemptions of R$47.9 billion in March.

The Fixed Income class had the largest outflows in March, with investors draining R$29.6 billion. From January to March, such fixed-income assets lost R$12.2 billion, with outflows of R$165.2 billion in 12 months. Among the 16 Fixed Income types, only three showed inflows. The Short Duration - Investment Grade led outflows with R$15.1 billion. Investors also moved away from the most representative funds in net assets, with outflows in Free Duration - Sovereign (R$5.2 billion) and Investment Grade (R$5.5 billion).

Balanced-Mixed funds saw outflows of R$10.3 billion, with Foreign Investment leading redemptions at R$8.9 billion. Investors pulled R$37.4 billion out of the Balanced-Mixed class in the year and R$85.3 billion in 12 months.

The Equity class had net outflows of R$8 billion, most of which concentrated in the Free Portfolio type, which saw a R$6.5 billion net selling in March. Equity lost R$23.9 billion in the year and R$20.4 billion in 12 months.

Among Fixed Income funds with the largest assets, Short Duration - Sovereign and Short Duration - Investment Grade gained 1.09% and 1.12%, respectively. Other Fixed Income categories delivered positive returns such as the Free Duration – Sovereign (1.33%) and Investment Grade (1.24%). In Balanced-Mixed, the Free type yielded 0.46%.

As for the Equity segment, all types ended March in the negative territory, with the most representative one, Equity – Free Portfolio, down 3% last month.