Key findings

Vaccine challenges | Sentiment falls amid slow rollouts

Inflation worries | More than half expect an increase in the next 3 years

Excess of cash | Investors consider new alternatives


Investors see vaccine rollouts being far from successful...

...causing short-term economic outlook to decrease 

(over the next 12 months, in %)

Top sources of optimism and concern



Market outlook

Most investors see the US as very attractive for investing in the short-term


Investors see inflation growth as inevitable within the next 3 years

Confidence in own businesses strongly led by vaccine development

Sources of optimism

Business owners realize working setups have changed and do not foresee “going back”

Business owners' investment priorities are partially linked to IT matters

About the survey

UBS surveyed 150 investors and 50 business owners in Brazil with at least $1M in investable assets (for investors) or at least $1M in annual revenue and at least one
employee other than themselves (for business owners), from March 30 – April 18, 2021. For the 4Q20 results, UBS surveyed 150 investors and 50 business owners
in Brazil, from December 29, 2020 – January 11, 2021.