Macro funds: alternative to market fluctuations

On June 23, 2021, we held a webinar with Rodrigo Azevedo, Founding Partner at Ibiúna Investimentos. During the session, we discussed the dynamics of global recovery and its risks, inflation behavior and central bank reaction function and we also addressed if fixed income assets are attractive at current interest rates in Brazil for local and foreign investors.

Rodrigo explained how the economics cycles, alternations that happen between periods of growth, with periods of recession, has a huge impact on the macro scenario of asset allocation. In 2019, recession started to resurface, and last year, the pandemic aggravated it. The plan of the central bank was to lower the interest rates, increasing liquidity, making the environment conductive to attract investors, as the economy begins to recover.

As the vaccination takes place, accelerates the process of economic recovery, the International Monetary Fund estimates a 6,6% growth of the Global GDP for the year of 2021, surpassing the rate of the previous year that there was a 3.3% drop of the GDP.

Luiz Henrique Alves, UBS Product Specialist, moderated the event.