See which were the best equity funds in 2021

The Brazilian scenario in 2021 was marked by increased instability, with the dollar at high levels and the Copom (Monetary Policy Committee) having difficulties to contain the inflationary escalation.

Leonardo Alvarenga, director of Investmind, says that the dollar appreciated against the real due to the recovery of international economies, alongside the excess of liquidity present in the markets, which led to an increase in the shares of the large international exchanges.

In addition, there was an increase in the prices of goods and an increase in world inflation, especially in the commodities and energy sector.

“All these factors, together with a greater distrust of foreign investors in relation to the Brazilian political environment, directly impact the exchange rate, increasing the value of the dollar against the real”.

To seek greater returns, FIA (Stock Investment Fund) managers chose to maintain positions in assets that benefit from the bonanza in the international market, such as American shares, BDRs (US securities traded on the Brazilian market) and Brazilian export companies of goods and services.

See the list of the best equity funds between January and November made by Einar Rivero, from Economatica, at the request of CNN Brasil Business:

For 2022, the analyst expects the scenario to remain the same. “Since this is an election year, instability must remain until the new president is sworn in. In addition, the economic scenario that is taking shape in Brazil, with persistent inflation, high interest rates, a devalued exchange rate and an increase in debt, is one of stagflation,” he says.

Given this, Alvarenga also believes that FIA managers will continue to bet on shares of foreign companies, Brazilian companies that benefit from the high dollar or that operate in more defensive sectors.