People who fit this profile are characterized by looking for investments that represent a
moderate growth, without assuming significant risks. They usually prioritize the immediate
liquidity of investments, minimizing the incidence of market fluctuations to the maximum
extent possible.

Investors identified with this group seek to invest in very short-term and low volatility funds.
Fixed-term funds and short-term and low volatility bonds would fit this profile.

Moderate investors accept to assume certain oscillations in their investments, in the quest for
greater profitability in the medium/long term. They have an intermediate profile; they are
people who can put up with some risk in their investments, in return for greater profitability.

For this type of investors, the short-term and medium-term bond funds will suit an investment
portfolio.

This profile is characterized by the search of the maximization of investment returns,
assuming, however, a high risk component. Therefore, they would agree to keep their
investments for long periods, without assigning a high priority to the immediate availability of
their assets.

In general, these are investors who choose to subscribe medium-term and long-term funds
composed of bonds and shares. Portfolios of these funds are considered to be highly volatile.