2024 Global Retail Investor Outlook 2025

Spotlight on emerging economies Brazil Brazilians have traditionally favoured savings and fixed-income investments, but demographic shifts and fintech innovation (e.g. Open Finance) are driving more to capital markets. Equity investors grew from 500,000 to 5 million from 2019 to 2022. While the average investor is a 32-year-old male, diversity is increasing, with female participation quadrupling from 2018 to 2020. Brazil has 1.5 million active individual investors in ETFs and 12.7 million in fixed-income funds.25 60% of Brazilian respondents are willing to share personal data with financial institutions vs. 47% in developed countries. 40% of retail investors in Brazil use a budgeting application vs. 27% global average.Investors Total respondents675 (1,003)CASE STUDY 3 Brazil’s “Open Finance” as a means for digital financial inclusion As fintech users shift investing and saving online, market authorities must ensure data-sharing protocols evolve while prioritizing investor value. With 51 billion application programming interface (API) calls in 2023 and a broader scope than traditional open banking, Brazil’s Open Finance is now the world’s largest data deregulation initiative. It empowers users, drives fintech growth and expands access to financial products.26 Country highlights 2024 Global Retail Investor Outlook 30