Sentiment in Brazilian Equities: General market optimism or pessimism towards Brazilian stocks influences SYNE3F.SA as a Brazilian equity fund.

Economic Conditions in Brazil: Brazil's GDP growth, inflation rates, interest rates, and unemployment impact corporate profitability and investor confidence.

Fund Performance: The historical and relative performance of SYNE3F.SA compared to similar funds affects investor demand.

Management Fees and Expense Ratio: High fees can deter investors, negatively affecting the fund's attractiveness.

Dividend Yield: A competitive dividend yield can attract income-seeking investors, boosting demand.

Underlying Asset Performance: The performance of the assets held within SYNE3F.SA directly impacts its overall value.

Currency Fluctuations: Changes in the exchange rate between Brazilian Real and other major currencies affects returns for foreign investors.

Regulatory Changes: New regulations impacting investment funds in Brazil can influence investment decisions and fund valuation.

Global Market Conditions: Global economic trends and international investor sentiment also affect investment flows into Brazil.

Political Stability in Brazil: Political uncertainty can decrease investor confidence and negatively affect Brazilian equities.