Brazil fund inflows rebound to R$33.9B in August; industry growth lags CDI

Brazilian investment funds saw net inflows of R$33.9B in August, reversing July's R$15.6B outflow, per Anbima. Year-to-date inflows total R$261B, but industry assets grew only 2.6% versus CDI's 9.3%, indicating underperformance relative to benchmark. This suggests investor preference for fixed income or direct investments, with implications for asset management margins and capital flows.