RIO DE JANEIRO, BRAZIL - Small-cap funds were the most profitable type of equity investment fund in the 12-month period ended in November 2019: 40 percent, according to the most recent data released by the Brazilian Association of Financial and Capital Market Institutions (ANBIMA).
These funds privilege securities of amounts deemed low in the stock market, with a capitalization ranging from R$300 million (US$75 million) to R$2 billion. The stock portfolio consists of at least 85 percent of these shares, which are not listed among the 25 largest companies that make up the IBrX index, the . . .