The Brazil Securities Commission (CVM) released its fourth quarter 2024 Economic Bulletin, consolidating 2024 figures and reporting a record BRL 966.8 billion in securities issuance, up 49% from BRL 648.4 billion in 2023. Fixed-income and securitisation issuances drove the increase, rising to BRL 776.2 billion from BRL 457.3 billion, an increase of around 70%. The bulletin shows the number of CVM-regulated participants rising 3.7% year on year to 89,771, while the investment fund industry reached 31,952 funds, reflecting ongoing adaptation to CVM Resolution 175, which allows fund structures using classes and subclasses of units. CVM estimated the total value of the regulated market at BRL 40.32 trillion, or BRL 15.43 trillion excluding the notional value of derivatives; structured investment funds reached BRL 2.08 trillion, up 36% from the prior period. In secondary markets, average daily traded value increased 30% for real estate investment funds (FII) and 26% for debentures versus 2023, and crowdfunding issuances under CVM Resolution 88 totalled BRL 1.5 billion in 2024, 80% higher than the combined total of the previous five years.
Brazil Securities Commission (CVM) 2025-01-30
Brazil Securities Commission publishes Q4 2024 Economic Bulletin showing record BRL 966.8 billion securities issuance in 2024
The Brazil Securities Commission (CVM) reported a record BRL 966.8 billion in securities issuance for 2024, a 49% increase from 2023, driven by fixed-income and securitisation issuances. CVM-regulated participants rose 3.7% to 89,771, and the investment fund industry expanded to 31,952 funds, adapting to CVM Resolution 175. The total regulated market value was estimated at BRL 40.32 trillion, with significant growth in secondary markets and crowdfunding issuances.