Participação de fundos de renda fixa cai ao menor patamar desde 2011, aponta Anbima
Os fundos de renda fixa alcançaram a menor participação da série histórica da Anbima, desde 2011, destacou José Ramos Rocha, presidente do fórum de distribuição da entidade, que representa o mercado de capitais e de investimentos.
No varejo tradicional, a fatia caiu de 13,5% para 11,1% em 12 meses. Na alta renda passou a representar 27,1%, ante 36,1% de um ano atrás. No private banking saiu de 10,1% para 7,2%.
Para Rocha, esse movimento reflete em parte a queda da Selic. O Comitê de Política Monetária (Copom) levou a taxa a 2,25% ao ano no fim do primeiro semestre e a inéditos 2% ao ano na reunião de ontem.
Ele lembrou, contudo, que o setor vem se ajustado e promovendo a redução dos custos nas carteiras de renda fixa mais tradicionais.
Para Rocha, a recuperação da captação que se viu em julho nos fundos de renda fixa - interrompendo uma sequência de meses no vermelho e atraíram R$ 35,4 bilhões - tem relação com essa calibragem da taxa de administração e também com o gap entre juros longos e curtos.
“A curva de juros pode ter queda ainda, existe uma certa boca de jacaré entre a taxa de um ano e a de dez. Se o investidor acreditar que pode fechar, os fundos carregados em papéis longos num nível de taxa mais alta podem capturar ganhos”, disse. “O BC tem feito muito esforço para diminuir essa boca de jacaré.”
Com os estímulos do auxílio emergencial, que levou a abertura de contas de poupança e inflou os números gerais em quase 45 milhões em um ano, para 102...
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