Fueled by October’s substantial 11.23% upturn in the Ibovespa, the equity funds resumed their leadership of the profitability rankings, also recording the industry’s highest year‐to‐date returns. Once again, the FMP‐FGTS and Single Equity types were leveraged by the appreciation of shares with a representative presence in the Ibovespa, like Vale and Petrobras, and posted the industry’s best returns in the month (23.38% and 20.92%, respectively) and year to date (92.73% and 84.60%). The Free Portfolio and Ibovespa Active funds, with the highest AuM of their class, also performed well, albeit less so, recording healthy returns of 7.25% and 9.68%, respectively, in October, and 33.05% and 41.01% in the first ten months