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Investment funds shed a net R$5.3bn in June
Published July 13, 2026
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Despite the monthly outflow, fund industry posted R$184.7 billion in net purchases in the first half of 2026, led by ETFs and structured funds
In June, investment funds posted net outflows of R$5.3 billion, though they still had net inflows of R$184.7 billion in the first half of 2026. Much of the decline was driven by heavy redemptions from multimarket funds, at R$14.3 billion, and pension funds, at R$3.9 billion.
Exchange-traded funds (ETFs) led the gains, with net inflows of R$5.9 billion, bringing their total for the year so far to R$32.5 billion. They were followed closely by credit rights investment funds (FIDCs), which attracted a net R$5.7 billion and brought their 2026 total to R$30.6 billion.
Fixed income shows mixed results
Within fixed income strategies, short duration sovereign funds stood out, attracting R$16 billion in net inflows—the industry’s strongest result in June—and bringing their first-half total to R$25 billion.
Conversely, short duration investment grade, the largest category in this class by net assets, posted net outflows of about R$1.8 billion, taking its cumulative balance for 2026 to a negative R$12.2 billion. Meanwhile, the free duration investment grade type suffered net redemptions of R$8.4 billion, leaving its net inflows since January at R$9.2 billion.
Multimarket funds remain under pressure
The multimarket, or multi-asset, class faced monthly net outflows of R$14.3 billion, taking net redemptions in 2026 to R$9.9 billion.
The heaviest blow came from foreign investment—the category with the largest net assets—which lost R$6.6 billion during the month and posted net outflows of R$7.3 billion in the first half. It was followed by the free portfolio type, which posted net losses of R$3.6 billion in June and R$9.6 billion so far in 2026.
Equity funds post modest inflows
In the equity class, funds posted a modest net inflow of R$21.1 million for the month, while net flows for the year remained negative at R$6.5 billion.
The equity free portfolio type posted net outflows of R$1.4 billion in June, widening its 2026 deficit to R$6.9 billion. Foreign equity funds, the class’s flagship strategy, secured net inflows of R$409 million in June and R$11.8 billion in the year through June.
Structured funds attract new capital
Among structured funds, FIDCs brought in R$5.7 billion, while private equity funds (FIPs) attracted net inflows of R$1.8 billion.
In the first half, FIDCs brought in R$30.6 billion, while FIPs posted net inflows of R$32.1 billion.
In terms of June performance, short duration investment grade returned 1.13%, bringing its return for the first six months of the year to 6.82%. The free duration free credit type rose 1.08% and was up 5.45% for the year through June.
Multimarket and equity performance
Among multimarket funds, free portfolio funds advanced 0.77% in June and gained 5.12% in the first half, while foreign investment rose 0.72% for the month, taking its return for the year through June to 3.09%.
In the equity class, free portfolio funds fell 0.83% in June but remained up 1.8% for the year, while foreign equity edged up 0.16% during the month, bringing its return since January to 3.46%.
Investment funds shed a net R$5.3bn in June
Published July 13, 2026
To share
Despite the monthly outflow, fund industry posted R$184.7 billion in net purchases in the first half of 2026, led by ETFs and structured funds
In June, investment funds posted net outflows of R$5.3 billion, though they still had net inflows of R$184.7 billion in the first half of 2026. Much of the decline was driven by heavy redemptions from multimarket funds, at R$14.3 billion, and pension funds, at R$3.9 billion.
Exchange-traded funds (ETFs) led the gains, with net inflows of R$5.9 billion, bringing their total for the year so far to R$32.5 billion. They were followed closely by credit rights investment funds (FIDCs), which attracted a net R$5.7 billion and brought their 2026 total to R$30.6 billion.
Fixed income shows mixed results
Within fixed income strategies, short duration sovereign funds stood out, attracting R$16 billion in net inflows—the industry’s strongest result in June—and bringing their first-half total to R$25 billion.
Conversely, short duration investment grade, the largest category in this class by net assets, posted net outflows of about R$1.8 billion, taking its cumulative balance for 2026 to a negative R$12.2 billion. Meanwhile, the free duration investment grade type suffered net redemptions of R$8.4 billion, leaving its net inflows since January at R$9.2 billion.
Multimarket funds remain under pressure
The multimarket, or multi-asset, class faced monthly net outflows of R$14.3 billion, taking net redemptions in 2026 to R$9.9 billion.
The heaviest blow came from foreign investment—the category with the largest net assets—which lost R$6.6 billion during the month and posted net outflows of R$7.3 billion in the first half. It was followed by the free portfolio type, which posted net losses of R$3.6 billion in June and R$9.6 billion so far in 2026.
Equity funds post modest inflows
In the equity class, funds posted a modest net inflow of R$21.1 million for the month, while net flows for the year remained negative at R$6.5 billion.
The equity free portfolio type posted net outflows of R$1.4 billion in June, widening its 2026 deficit to R$6.9 billion. Foreign equity funds, the class’s flagship strategy, secured net inflows of R$409 million in June and R$11.8 billion in the year through June.
Structured funds attract new capital
Among structured funds, FIDCs brought in R$5.7 billion, while private equity funds (FIPs) attracted net inflows of R$1.8 billion.
In the first half, FIDCs brought in R$30.6 billion, while FIPs posted net inflows of R$32.1 billion.
In terms of June performance, short duration investment grade returned 1.13%, bringing its return for the first six months of the year to 6.82%. The free duration free credit type rose 1.08% and was up 5.45% for the year through June.
Multimarket and equity performance
Among multimarket funds, free portfolio funds advanced 0.77% in June and gained 5.12% in the first half, while foreign investment rose 0.72% for the month, taking its return for the year through June to 3.09%.
In the equity class, free portfolio funds fell 0.83% in June but remained up 1.8% for the year, while foreign equity edged up 0.16% during the month, bringing its return since January to 3.46%.
Investment funds shed a net R$5.3bn in June
Published July 13, 2026
To share
Despite the monthly outflow, fund industry posted R$184.7 billion in net purchases in the first half of 2026, led by ETFs and structured funds
In June, investment funds posted net outflows of R$5.3 billion, though they still had net inflows of R$184.7 billion in the first half of 2026. Much of the decline was driven by heavy redemptions from multimarket funds, at R$14.3 billion, and pension funds, at R$3.9 billion.
Exchange-traded funds (ETFs) led the gains, with net inflows of R$5.9 billion, bringing their total for the year so far to R$32.5 billion. They were followed closely by credit rights investment funds (FIDCs), which attracted a net R$5.7 billion and brought their 2026 total to R$30.6 billion.
Fixed income shows mixed results
Within fixed income strategies, short duration sovereign funds stood out, attracting R$16 billion in net inflows—the industry’s strongest result in June—and bringing their first-half total to R$25 billion.
Conversely, short duration investment grade, the largest category in this class by net assets, posted net outflows of about R$1.8 billion, taking its cumulative balance for 2026 to a negative R$12.2 billion. Meanwhile, the free duration investment grade type suffered net redemptions of R$8.4 billion, leaving its net inflows since January at R$9.2 billion.
Multimarket funds remain under pressure
The multimarket, or multi-asset, class faced monthly net outflows of R$14.3 billion, taking net redemptions in 2026 to R$9.9 billion.
The heaviest blow came from foreign investment—the category with the largest net assets—which lost R$6.6 billion during the month and posted net outflows of R$7.3 billion in the first half. It was followed by the free portfolio type, which posted net losses of R$3.6 billion in June and R$9.6 billion so far in 2026.
Equity funds post modest inflows
In the equity class, funds posted a modest net inflow of R$21.1 million for the month, while net flows for the year remained negative at R$6.5 billion.
The equity free portfolio type posted net outflows of R$1.4 billion in June, widening its 2026 deficit to R$6.9 billion. Foreign equity funds, the class’s flagship strategy, secured net inflows of R$409 million in June and R$11.8 billion in the year through June.
Structured funds attract new capital
Among structured funds, FIDCs brought in R$5.7 billion, while private equity funds (FIPs) attracted net inflows of R$1.8 billion.
In the first half, FIDCs brought in R$30.6 billion, while FIPs posted net inflows of R$32.1 billion.
In terms of June performance, short duration investment grade returned 1.13%, bringing its return for the first six months of the year to 6.82%. The free duration free credit type rose 1.08% and was up 5.45% for the year through June.
Multimarket and equity performance
Among multimarket funds, free portfolio funds advanced 0.77% in June and gained 5.12% in the first half, while foreign investment rose 0.72% for the month, taking its return for the year through June to 3.09%.
In the equity class, free portfolio funds fell 0.83% in June but remained up 1.8% for the year, while foreign equity edged up 0.16% during the month, bringing its return since January to 3.46%.
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