RBRR11, MCCI11 and four more “paper” FIIs to buy despite deflation, indicates Itaú BBA; ifix rises

The reduction in dividends from receivables FIIs – which invest in fixed income securities linked to the inflation index and the CDI rate – will be punctual, signals the second edition of the Itaú BBA Financial Assets Sector Report, which assesses the impact of the scenario of deflation in real estate funds.

The document is signed by Marcelo Potenza and Larissa Nappo, analysts at the financial institution, who reinforce the optimism with the receivables FIIs – or “paper”, as they are also known. Given the confidence, they recommend the purchase of six wallets. Are they:

  • HGCR11 – CSHG Real Estate Receivables
  • KNHY11 – Kinea High Yield
  • KNSC11 – Kinea Securities
  • MCCI11 – Mauá Capital Real Estate Receivables
  • RBRR11 – RBR High Grade Yield
  • VCJR11 – Vectis Real Interest

In July, the Broad Consumer Price Index (IPCA) registered a deflation of 0.68% and Itaú BBA expects the indicator to turn negative again in August, at a percentage of 0.16%.

The scenario reduces the dividends distributed by the FIIs of receivables, since many securities in the portfolios of these funds have the IPCA as a correction index. That is, if the indicator goes up, the dividend increases. If it falls, it reduces the income distributed to shareholders.

For Larissa, the distribution of earnings from funds that have portfolios indexed to the IPCA should be reduced in the months of September and October, since the monthly transfer reflects the performance of the index with a lag of one or two months. After the period, the payment of dividends should return to normal, signals the analyst.

“The IPCA result for September, for example, should already reach the level of 0.43% and bring relief to monthly income”, he predicts.

She points out that, given the scenario of a drop in very short-term earnings, the market decided to defend itself from the effects of deflation and went into sales, bringing the quotations of receivables funds down.

In August, “paper” FIIs registered a drop of 0.4%, a performance well below the performance of brick funds – which invest directly in real estate –, which boast a strong increase of 7.4%. The Ifix, the index of the most traded FIIs on the Stock Exchange, rose 3.7%.

According to Potenza, the recommendations of the second edition of Itaú BBA’s Sectorial Report on Financial Assets take into account funds with quality portfolios, experienced management and robust guarantees, characteristics that are very welcome in any economic scenario, concludes the analyst.

Discover the step-by-step guide to live on income with FIIs and receive your first rent in your account in the next few weeks, without having to own a property, in a free class.

ifix today

In this Friday’s session (19), the IFIX – an index that gathers the most traded real estate funds on B3 – operates in the positive field. At 11:04 am, the indicator registered an increase of 0.17%, at 2,925 points. Check out today’s highlights:

Biggest highs this Friday (19):

tickerNameSectorVariation (%)
VINO11Vinci OfficesCorporate Slabs1.68
GGRC11GGR Covepi IncomeLogistics1.56
SNFF11Suno FoFOthers1.45
XPLG11XP LogLogistics1.41
BTRA11BTG Pactual Terras Agrícolasagro1.35

Biggest casualties of this Friday (19):

tickerNameSectorVariation (%)
CARE11Brazilian Graveyard and Death CareOthers-3.02
HGRE11CSHG Real EstateCorporate Slabs-1.47
HGFF11CSHG FoFTitles and Val. furniture-1.05
PVBI11VBI Prime PropertiesCorporate Slabs-0.82
BBPO11Progressive BB IICorporate Slabs-0.78

Source: B3

Suno Fundo de Fundos (SNFF11) launches new quota offering and wants to raise BRL 24.6 million

In a material fact released this Thursday (18), FII Suno Fundo de Fundos announced to the market the approval of the fund’s second issue of quotas, which aims to raise R$ 24.6 million.

The unit price of the new shares was set at R$89.72 and the distribution fee will be R$0.28, totaling a subscription price of R$90.00.

At the opening of the market this Friday (19), the shares of Suno Fundo de Fundos were being traded at R$ 88.59, an increase of 0.44%.

Shareholders with a position at the end of August 23 will have preemptive rights in the offer, which can be exercised between August 25 and September 8.

With assets of R$ 224 million, the fund currently has a rate of return with dividends of 9% in the last 12 months. On Monday (15), the portfolio deposited BRL 0.65 per share, a monthly return equivalent to 0.71%.

dividends today

Check out which are the 17 funds that distribute income this Friday (19):

tickerBackgroundPerformance
PQDP14Parque Dom Pedro Shopping Center BRL 14.24
PQDP11Parque Dom Pedro Shopping Center BRL 14.24
PQDP13Parque Dom Pedro Shopping Center BRL 14.24
SHDP13Shopping Parque Dom Pedro BRL 7.74
SHDP11Shopping Parque Dom Pedro BRL 7.74
RZAK11Riza Akin BRL 1.50
BARI11Barigui Real Estate Income I BRL 1.40
AFHI11AF Invest Cri BRL 1.30
BLMC11Bluemacaw Real Estate Credit BRL 1.17
GOLD 11Ourinvest Structured Income BRL 1.15
BRLA11BRL Prop II BRL 1.09
AFOF11Alliance FoF BRL 1.06
ARCT11Riza Arctium BRL 1.02
RECX11REC FoF BRL 0.80
CORM11Core Metropolis BRL 0.77
OUFF11Ourinvest Fund Of Funds BRL 0.75
TSNC11transsync BRL 0.63
TRNT11north tower BRL 0.30
AFHI13AF Invest Cri BRL 0.29
GAME11Guardian Real Estate Multistrategy I BRL 0.13
MANA11Manati Capital BRL 0.11
IMMO13Immob II BRL 0.10
IMIV13Immob IV Bragança BRL 0.10
RNOV14Immob I BRL 0.01
RNOV15Immob I BRL 0.01

Source: InfoMoney. Tickers with an ending other than 11 refer to receipts and subscription rights for funds.

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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