XP research shows surge in Brazilian investor appetite for stocks

Investor appetite for stocks in Brazil saw its largest monthly increase since June 2023, according to a survey by XP conducted among its advisory offices. In September, the proportion of advisors reporting that clients plan to increase equity allocation rose by 19 percentage points to 29%.

Conversely, the share of advisors noting intentions to reduce variable income exposure fell by 6 points to 11%. Advisor sentiment regarding the stock market also improved, with the average rating on a scale of 0 to 10 rising from 5.7 in August to 6.8 in September.

This shift coincides with a recovery in the Ibovespa, which saw 11 consecutive days of gains at the start of September and a monthly appreciation of 3.4%. Despite the increased interest, actual allocation remains conservative, with 85% of advisors stating that variable income accounts for up to 25% of client portfolios, while fixed income remains the preferred asset class for 84% of respondents.