Brazilian Market Portfolio

By Cristina Tessari, Alexis Meyer-Cirkel

March 10, 2017

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Format: Chicago

Cristina Tessari, and Alexis Meyer-Cirkel. Brazilian Market Portfolio, (USA: International Monetary Fund, 2017) accessed September 18, 2024

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

In recent years, Brazil has achieved substantial progress in capital market development by building a diversified investor base and expanding the menu of available financial instruments. In this context, we evaluated the invested Brazilian market portfolio for a period spanning 2005–15. This is a portfolio of all assets proportionally weighted by their market capitalization, and it is divided in eight broad categories: government bonds, equities, bank funding bonds, corporate bonds, real-estate, agribusiness, private-equity, and credit bonds. While the paper focuses on stylized facts related to market size, composition weighting and changes over time, the estimated market portfolio contains important information for policy makers and market participants alike.

Subject: Bonds, Financial institutions, Financial markets, Securities, Sovereign bonds, Stock markets, Stocks

Keywords: Asset class, Bonds, Capital markets, Financial market, Fixed income, Fixed-income security, Global, Global market portfolio, Government bonds Index, Market capitalization, Multi-asset market portfolio, Portfolio selection, Private equity, Receivables certificate, Securities, Sovereign bonds, Stock markets, Stocks, WP

Publication Details

Pages:

38
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2017/051
Stock No:

WPIEA2017051
ISBN:

9781475586084
ISSN:

1018-5941

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