Increased uncertainty in the financial market after the result of the U.S. Election contributed to the 4.65% decline in the Ibovespa and the 6.78% appreciation of the dollar in November. Reflecting this scenario, the Foreign Exchange fund moved up 6.50%, while most Equity funds recorded losses in the month. The Free Portfolio and Active Index funds, with the highest AuM of their class, fell 4.89% and 5.31%, respectively. Despite the November results, these figures have appreciated 26.56% and 33.56% year to date.