After registering net sales in January, the fund industry once again recorded net redemptions in February, totaling 3.3 bln reais. The Fixed Income funds posted net sales of 4.4 bln reais, but this was not enough to offset net redemptions by the Balanced / Mixed (6.4 bln reais), Equity (1.6 bln reais) and Credit Receivables (1.6 bln reais) categories. As a result, year-to-date net sales fell back to 5.5 bln reais, slightly less than the 5.8 bln reais recorded in the same period last year. It is also worth noting that the net sales profile in the first two months of the year was similar to that in the same period of 2014, with sales being concentrated in the Fixed Income funds, most of which in the Government segment, and redemptions in the Balanced / Mixed funds, most belonging to the Corporate segment.