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Galeria de Fotos

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Economia

Quem investiu na caderneta de poupança em 2015 perdeu poder de compra, já que a rentabilidade da caderneta foi de 8,07%, enquanto a inflação, medida pelo IPCA, ficou em 10,67%. É a primeira vez que a poupança perde da inflação desde 2002 e o segundo pior desempenho desde o início do Plano Real.

Esse cenário de baixa rentabilidade, aliado ao aumento do desemprego e à queda da renda, fez com que o volume de saques da poupança superasse o de aplicações em R$ 53,568 bilhões em 2015, a maior saída líquida de recursos em 20 anos. Com isso, o patrimônio da aplicação caiu pela primeira vez na história.

O administrador de investimentos Fabio Colombo aponta que o rendimento da poupança só superou o da Bolsa de Valores, que registrou queda de 13,31% em 2015. Com a taxa básica de juros (Selic atualmente em 14,25%, o mercado de renda fixa ficou mais atrativo. A remuneração da caderneta, por sua vez, é formada por uma taxa fixa de 0,5% ao mês mais a Taxa Referencial (TR) - esse cálculo vale para quando a Selic está acima de 8,5% ao ano.

Já a rentabilidade de fundos de renda fixa ficou em 13,49% em 2015, enquanto títulos do governo indexados ao IPCA renderam 17,66%. Mesmo com a incidência do Imposto de Renda, o investimento nessas modalidades é muito mais vantajoso do que na poupança. “O resultado da poupança no ano tem basicamente duas explicações, e uma delas é que os investidores maiores - que não são muitos - estão saindo da caderneta para investir em outros produtos”, diz Colombo.

A outra explicação, segundo ele, é a situação econômica do País, com a piora do mercado de trabalho e a alta dos preços obrigando muitos brasileiros a usar o dinheiro investido para honrar compromissos do dia a dia. De acordo com o Banco Central, a poupança tem 137,4 milhões de clientes. Como base de comparação, o número de investidores cadastrados no Tesouro Direto atingiu 604,3 mil no ano passado, quando superou, pela primeira vez, a quantidade de investidores na bolsa.

 

 

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