06/20/2023
Number of investors in fixed income grows 34% and in equities 23% in 12 months at B3
São Paulo, June 5, 2023 – The volume invested in fixed income products has risen due to a high SELIC base rate in the past 12 months. The amount reached almost BRL 1.8 trillion at the end of the first quarter of 2023, up 42% on the same period last year. During these 12 months, fixed income attracted 4 million new investors, bringing the total number of this type of investor to 15.3 million.
These figures come from the most recent edition of the study that analyzes the evolution of individual investors at B3.
The numbers also rose in the case of equities. Around 1 million individuals opened accounts in the 12 months, taking the total number of investors to 5.3 million. And for the first time the number of accounts surpassed 6 million, reaching 6.1 million in the first three months of this year, accumulating a total of BRL 439 billion in custody. When this is added to the volume invested in fixed income, the amount in custody reaches BRL 2.2 trillion. It should be noted that the number of accounts is higher than the number of CPF taxpayer numbers because the same individual can have an account with more than one brokerage house.
The number of investors totaled 17.6 million, excluding duplicated investors in both fixed income and equities. “Once again, we see that the diversification of the most varied financial instruments and the lessons learned during the investment journey are here to stay, above all in the new generations, even against this macroeconomic background of total incentive for fixed income”, said Felipe Paiva, Client and Individual Investor Relations Director at B3.
More than 260,000 individual investors traded derivatives
A new development in this edition of the study is data on the participation of individual investors in derivatives, namely futures, swaps and options. A total of 267,000 individuals executed at least one transaction with these products in the first quarter. They are responsible for 23% of the average daily trading volume of contracts.
The B3 Ibovespa Mini Futures Contract (WIN) was the derivative with the largest number of investors in the period, at 235,500 individuals, followed by the U.S. Dollar Mini Futures Contract (WDO), at 148,900.
“Both the market and academia have intensively used the quarterly study with investor data and behavior in order to identify trends. This year we decided to disclose more of this unprecedented data on the number of investors in the derivatives market, specifically mini futures in index and in U.S. Dollar, so that it will be possible to identify behavior in each case. The profiles and forms of activity in these products are quite distinct from what we have seen in the cash equities market and the publication of this data provides more inputs for financial education initiatives and for content aimed at this public,” added Felipe Paiva.
Half of the investors in the new Tesouro RendA+ are between 25 and 39
The study also highlighted the results for the first quarter of trading in Tesouro RendA+, a security that B3 and Brazil’s Treasury made available in January aimed at pensions. Half of the investors in the product are aged between 25 and 39, but the 42% aged over 39 concentrated 75% of the amount in custody.
“RendA+ has ended May with more than BRL 782 million invested, which is an impressive volume. The result shows that the joint efforts of the National Treasury of Brazil, of institutions that are part of Tesouro Direto (government bonds) program and of B3 are on the right path when they enable new investment alternatives with initiatives and financial education actions. This is transformational, globally pioneering and a synthesis of how access to the financial and capital markets in Brazil has been democratizing,” said Felipe Paiva.
Other Tesouro Direto indicators that stood out in the first quarter were the total inventory of the product, considering all the bonds, which rose around 6% and reached BRL 105.3 billion, and the average balance, which rose from BRL 2,800 to BRL 3,100.
The young are also the majority among all investors at B3
It is not only in Tesouro RendA+ that the young comprise most investors. Out of the current 5.3 million individuals who invest in equities at B3, 49% are aged 25 to 39. This is also the age group in which 45% of the new investors join the equities market.
Distribution by gender has remained stable in recent years, with 77% of investors being male. On the other hand, women have begun to trade equity assets of greater value than men, at BRL 199 in March, compared to BRL 59 for men.
The democratization of access to the exchange is also evident in the initial investments of 106,000 individuals who joined B3 in March: the average first investment was BRL 80, but 41% began their journey with amounts of up to BRL 40.