The financial volume handled by individuals in brokerages, banks and investment platforms exceeded R$ 4.6 trillion in the first half. The number represents an increase of 2.8% compared to December 2021, according to the Brazilian Association of Financial and Capital Market Entities (Anbima).
The total for the period was not higher only due to the retraction of the volume coming from the private (-1.7%), said Ademir Correa, president of the Anbima Distribution Forum, in a press conference this Tuesday afternoon. The increase was driven by high-income (+5.4%) and traditional (+5.9%) retails, which handle smaller volumes. “If there was no fall in the private, the general percentage would be closer to that observed in retail. But it is a natural movement due to the prolongation of this moment with war, post-pandemic scenario and inflation”, says Correa.
Retail prefers fixed income
Fixed income was the segment that grew the most in the portfolio of individual investors during the semester, jumping from 57.5% of the total in December to 61.3% in June. Equity shrank (from 19.5% to 16.7%), as well as hybrid assets – hedge funds, index funds (ETFs), real estate funds and structured operations certificates (COEs) -, which reduced the space for 17.8% to 16.7% of the total. The pension plan segment continues to occupy 3.7% of the portfolios.
According to Anbima, 81.7% of the retail investor’s financial volume is in fixed income, while in private the segment represents 27.5% of the total. Still in retail, savings are the favorite product (32.9% of the portfolio), with bank deposit certificates (CDBs) in second place (19.9%).
It is worth mentioning that, although the favorite, savings had a 2.3% retraction in the financial volume of the semester, considering all investors. In Correa’s assessment, total savings decreased due to the “return to normalcy after the pandemic” and increased consumption.
Regarding the segment private, there is a greater concentration of resources in variable income (30.5%) and in hybrid assets (28.1%) – among them, multimarket funds stand out (24.2%). In comparison with the volume of retail, the numbers for variable income are lower: high-income retail has 11.4% in the segment and traditional retail, only 6%.
Equity and hedge funds have capital flight
The volume traded in investment funds had a negative variation of 3.5% in the semester, with a greater loss in the equity classes (-18%) and multimarket (-5.1%). Credit rights investment funds (FIDCs) also showed a strong decline of 20.5%.
“This stems from the turmoil seen in the markets,” says Correa. “In such scenarios, investors make more conservative moves”, he justifies, pointing out that fixed income and real estate funds rose by 4.5% and 5.3%, respectively.
CBD and LCA are more distributed
CDBs and agribusiness letters of credit (LCAs) compete for the ranking of the most traded securities by institutions, appearing in 79.2% and 65.2% of houses, respectively.
Source: CNN Brasil
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