Brazilian shares raise biggest value since 2007
Valor Econômico
The month has turned, but the interest of the international investors on the theme of emerging countries continues the same, showing the assertion "sell in May and go away" was not valid for 2009. The turn of May to June was particularly interesting to the international stock funds dedicated to Brazil, that received US$ 832 million in the week ended in June 3rd. That made it the best week since the beginning of the fourth quarter of 2007, according to data of the American EPFR Global consulting firm. The consulting firm follows funds that invest around the world and accumulate assets of US$ 11 trillion. Considering only the data of May, EPFR Global points that the stock funds dedicated to Latin America have received US$ 2.8 billion, US$ 2.1 billion of which were aimed at Brazil. Widening the scope to all stock funds followed by the consulting firm - which includes, for instance, Bric (Brazil, Russia, India and China) or global funds - the amount intended for Latin America in May reach US$ 3.8 billion, US$ 3.2 billion of which, sent to Brazil.
The data of EPFR Global strengthens the figures of the very São Paulo Stock Exchange (Bovespa) that showed a record balance of R$ 6.08 billion (US$ 2.9 billion) in foreign investments during last month. In the year, the accumulated balance reached R$ 11 billion (US$ 5.2 billion).
The period between May 27 and June 3 was marked by a greater attention of the agents to a massive issue of bonds by the Governments of developed countries to fight the global crisis and the fear of the long-term effects of such bonds on the currencies used as a value reserve, such as the Dollar, the Pound and the Yen. Such concern led investors to allocate even more money in the funds with exposure of emerging markets, commodities and energy.