July 22, 2024

On a question from CVM, FII Maxi Renda leads the biggest decline of the session and closes the week with a drop of more than 9%

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On a question from CVM, FII Maxi Renda leads the biggest decline of the session and closes the week with a drop of more than 9%
On a question from CVM, FII Maxi Renda leads the biggest decline of the session and closes the week with a drop of more than 9%

In another bearish session – the third in a row after a Securities and Exchange Commission (CVM) questioning – Maxi Renda (MXRF11) closed the trading session this Friday (28) with a strong decline of 4.41%, the largest among the funds that comprise it IFIX An index that collects the most traded real estate funds on the stock exchange. During the week, the fund accumulated losses of 9.54%.

This Thursday (27), CVM expressed its opinion on the latest dividend debate from Maxi Renda (MXRF11), which is the largest real estate fund in the country in terms of the number of shareholders. In addition to strengthening the situation, the municipality warned that the opinion may extend to other funds in a similar situation to Maxi Randa.

By a majority vote, the collective CVM realized, at the end of last year, that a real estate fund could not distribute more dividends than the profits accrued by the portfolio. The position was released last Tuesday (25).

The analysis was based on Maxi Renda’s financial statements, between 2014 and 2020, the period in which the fund even made an accounting loss, however, continued to pay dividends.

In an explanatory note released last night, IDV reaffirmed the understanding and highlighted that the partial decision does not refer only to Maxi Randa.

“The said decision relates to a specific case. However, the understanding expressed there may apply to other REITs that have characteristics similar to the case analyzed,” the document details.

According to the CVM memo, real estate trusts are free to determine the amounts to be distributed to shareholders. However, in the event of an accounting loss, the income generated by FII should be transferred in the form of equity amortization.

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In the statement, the municipality stressed the right of Maxi Randa to submit a request to reconsider the opinion. The Fund has already expressed its intention to appeal the decision.

In the last two trading sessions, Maxi Renda shares are down about 6%. Today, at 12:24, the bottom was deepening the decline with the lowest at 1.47%. More information on the case around Central de FIIs.

IFIX today

This Friday (28), Ifix worked near stability throughout the session, but finished the day in the positive territory. The index recorded a slight increase of 0.10% at 2,769 points. In the month, the indicator accumulates a decrease of 1.24%.

Friday’s Biggest Highs (28):

ribbon Noun section Variance (%)
SARE11 Santander income hybrid 2,45
Fino 11 Yenchee offices corporate panels 2,03
VGHF11 Valora Hedge Fund Nicknames and Val. mob. 1,78
RBRP11 RBR . properties Aharon 1,66
RZAK11 Reza Akin Nicknames and Val. mob. 1,63

Friday’s Biggest Victims (28):

ribbon Noun section Variance (%)
MXRF11 income maxi hybrid -4,41
BLMR11 Bluemacaw Renda + FOF Nicknames and Val. mob. -3.55
HSLG11 HSI Logistics logistics -1,37
XPCI11 XP Mortgage Aharon -1,26
XPIN11 Industrial XP Aharon -1,2

Font: B3

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Valora Hedge (VGHF11) plans to raise R$250 million in the third version of the quota system

In a fundamental fact published on Thursday (27), the Valora Hedge Fund announced the approval of the third issuance of stakes in the fund, which intends to raise up to R$250 million.

The fund set the unit value of the new shares at R$9.46, plus distribution fees, initially at R$0.34. The total subscription amount will be R$9.80.

In the last trading session, Valora Hedge shares closed at R$10.11, up 0.20%.

According to a statement, shareholders will be able to express their preemptive right at 79%. There will be no minimum investment requirements.

Of the “paper” type – a fund that invests in real estate securities – Valora Hedge is currently worth R$315 million. According to the latest management report, approximately 70% of the portfolio consists of Certificates of Real Estate Receivables (CRI).

In 12 months, the fund’s dividend yield was 12.17%. In January, Valora Hedge’s share rose 1.30%.

Today’s earnings

Check out real estate funds that distribute income on Friday (28):

ribbon background performance
FTCE11B opportunity 7,029 BRL
PBLV11 Prologis Brazil Logistics Project 36.28 Brazilian Real
VLJS11 Vector Queluz Corporate Lajes 2882 ​​Brazilian Real
BCIA11 Bradsco Real Estate Portfolio 0.64 Brazilian Real
CTXT13 International Center for Textiles 0.37 BRL
CTXT14 International Center for Textiles 0.34 Brazilian Real
CNES11 will be attributed 0.14 Brazilian Real

Source: InfoMoney

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Real estate turnover: rent inflation accelerated in January and how industrial investment makers fared after CVM’s decision on Maxi Renda

IGP-M Index accelerated to 1.82% in January, FGV indicates

The General Price Index – Market (IGP-M) rose 1.82% in January, after rising 0.87% in DecemberReported on Friday 28, Fundação Getulio Vargas (FGV). The result was lower than the survey average. broadcast forecastWhich indicated a 2.00% increase for the index, with estimates ranging from 0.80% to 2.34%. The 12-month cumulative inflation by the IGP-M slowed from 17.78% to 16.91%, which is also below the survey average of 17.10% (forecast: 15.74% to 17.79%).

The IGP-M’s acceleration in January was driven by the broad Producer Price Index (IPA-M), which rose 2.30% in January, compared to 0.95% in December. The wholesale price index accumulated a variance of 19.32% in 12 months.

On the other hand, the Consumer Price Index (IPC-M) slowed from 0.84% ​​to 0.42% on the margin, with a cumulative inflation of 9.33% in 12 months.

Finally, the National Construction Cost Index (INCC-M) rose from 0.30% in December to 0.64%, as was already revealed by the FGV last Wednesday 26. The index has accumulated up 13.70% in 12 months.

Following CVM’s decision on Maxi Renda’s dividend (MXRF11Is it still worth investing in real estate funds?

The Securities and Exchange Commission’s decision on the Maxi Renda dividend has shaken the real estate fund industry and brought a series of doubts to investors. After all, is it still worth investing in FII?

The topic appeared in the special edition on Wednesday (26th) of FIIs . UniversityIt is a program produced by Infomoney, which included the participation of André Masetti, director of XP Asset, and Felipe Ribeiro, partner of Quatá Imob. At first, they recommended that investors understand the matter – and be very calm.

One day after CVM opinion, Maxi Renda shares fell 3.9%above a drop IFIX – The index that collects the most traded real estate funds on the stock exchange – which recorded a decrease of 0.7%. The volume traded by Maxi Renda in that trading session was R$43 million, nearly eight times higher than the fund’s January daily average.

“A lot of people, like it or not, got nervous and sold their stock at a loss and in a hurry,” Massetti says.

Felipe Ribeiro, of Quatá Imob, CVM’s decision on Maxi Renda is a serious one, but it suggests a lot of calm for the investor. For him, hasty decisions generate avoidable losses in the future. Find more tips and insights from managers on the future of real estate funds.

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