Brazil fund flows turned positive in May with net inflows of R$10.3bn, reversing April outflows, as a 13.5% rate outlook pulled savers into fixed income.
MARKETS · INVESTMENT FUNDS
Key Facts
—The Brazilian fund industry drew net inflows of R$10.3bn ($1.98bn) in May, according to the markets association Anbima.
—The result reversed an outflow of about R$5bn ($960m) in April; year-to-date net inflows now total R$188.2bn ($36.2bn).
—Fixed income drove the turn, taking in about R$10.4bn ($2bn), led by sovereign low-duration funds at R$22.9bn ($4.4bn).
Foreign investors pulled more capital out of Brazil's B3 stock exchange in May than in any month since March 2020, when the onset
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