Managed portfolios saw net outflows of R$7.14 billion in the first half of 2026, according to Anbima’s managed portfolios dashboard. Professional investors, with more than R$10 million invested, accounted for R$5.7 billion of the total, while qualified investors, with more than R$1 million invested, withdrew a net R$2 billion over the period.

General investors moved in the opposite direction, adding a net R$640.8 million. That was the second-strongest result since Anbima’s series began in 2022, trailing only the first half of 2024, when net inflows from this group reached R$1.2 billion.

“Despite the outflows among higher-net-worth investors, the data show that managed portfolios continue to gain ground among general investors, reflecting the growing availability of solutions that are increasingly accessible to this segment,” said Soraia Barros, Anbima’s executive manager for Funds.

Segment continues to expand

Total assets in managed portfolios rose to R$1.45 trillion at the end of the first half of 2026, up 10% from R$1.32 trillion a year earlier. The number of portfolios also grew, reaching 124,000 accounts at the end of June, 24% above the 100,000 seen in the same period of 2025. The number of asset managers increased to 323, from 297 a year earlier.

Customized portfolios, which select assets based on each client’s profile and goals, held R$1.29 trillion in assets, up from R$1.18 trillion in the first half of 2025. Standardized portfolios, which follow a predefined model for each risk profile, ended the period with R$156 billion, up from R$135 billion a year earlier.