The year 2023 has been marked by a slowdown in the capital markets compared to the first quarter of 2022. This effect is due to the continued decline in equity issuances (IPOs and follow-ons), in addition to the 38% reduction in fixed income volume. In the first quarter of 2023, fixed income offerings reached R$56 billion, compared to R$91 billion in the first quarter of the previous year.

Following the reduction in primary offerings in 1Q23, investment funds reported a net outflow of R$82 billion, with net withdrawals also recorded in fixed income funds (R$12 billion).

Following monitoring of the private credit market, Ártica's Capital Solutions department prepared a brief report on the accumulated results for 1Q23. Check it out: