Why invest in funds paper real estate?
The Real Estate Investment Funds (FII) that invest in securities such as Certificates of Real Estate Receivables (CRI) have a more diversified performance. They operate in several real estate sectors and invest in assets that benefit from the economic moment. They can be either logistical, commercial or residential assets, or those whose profitability is indexed to interest and inflation. They are an investment alternative with proven security.
Why?
The FIIs have already gone through several scenarios, from the Selic rate at 14% per year to nominal interest of 2% per year, which indicates negative real rates. The sector also went through an impeachment, a discussion about taxation, an international real estate crisis, among other challenges. In other words, the solidity and resilience of these products have been proven. 2022 will be a complex year of choice, in which uncertainty will guide the financial market as a whole, but the market still has a lot of room for growth. And there are good opportunities.
Is the scenario for this year positive?
Yes. The Focus Bulletin forecast is that the Selic rate will continue on an upward trajectory and reach 11.75% by the end of the year. This scenario of rising interest rates will make some funds dedicated to bonds obtain good yields, especially those with bonds indexed to the CDI. In addition, these funds can offer investors good protection against inflation, even if price indices remain under pressure. A good part of these portfolios have securities indexed to the IPCA or even the IGP-M.
What are the main challenges for the sector?
Factors such as elections and challenges in the economy and in the fiscal area should bring more uncertainty for 2022. In addition, the pressure of rising interest rates may cause, together with a still uncertain scenario of economic recovery, an increase in tenant default rates. It is important to verify that the manager monitors his portfolio well to prevent any worsening in the economic scenario from harming the investments of the fund’s shareholders.
GRADES
FUNDS GAIN 2.4 MILLION SHAREHOLDERS
The fund industry ended 2021 with 23.9 million shareholders, 2.43 million more than in 2020, an increase of 11.3%. The biggest increase in both absolute and relative terms occurred in hedge funds. There were 1.3 million new shareholders. The total grew from 3.98 million to 5.28 million, up 33%. In isolation, the most popular segment remains fixed income funds, with 10.7 million shareholders. The data are from Economatica.
ESG AGENDA WILL HAVE MORE RELEVANCE IN MANAGEMENT
Sustainability will play an increasingly important role in resource management. This is the conclusion of a survey carried out by the Brazilian Association of Financial and Capital Market Entities (Anbima). According to the survey, 89% of resource managers indicated that the topic will be more important in decision-making in 2022. Of these, 52% expect that sustainability will be much more important, and 37% believe that it will be relatively important.
ALTERNATIVE CREDIT GAINS STRENGTH IN THE USA
Exchange Traded Funds (ETFs) dedicated to alternative credit assets are gaining relevance in the United States, according to research by ETF Oversight. According to the consultancy, these funds whose shares are traded on the stock exchange and which invest in alternative credit assets such as overdue loans, securitized portfolios and others, grew 32% in 2021 compared to 2020. These ETFs gained importance with the drop in interest rates in the pandemic .
HIGH
47%
It was the increase in gasoline in 2021 according to the IBGE. Fuels in general made a significant contribution for inflation measured by the Broad Consumer Price Index (IPCA) to reach the double-digit level again. In all, transport prices rose 21.03% in the 12 months of 2021. And Petrobras announced a new 4.85% increase in fuel prices since Wednesday (12).
LOW
3.9%
It was the unemployment rate in the United States in December, according to the country’s Department of Labor. 199,000 jobs were created, the lowest number of new jobs for a month in 2021. The result was below market expectations, which foresaw a growth of around 400,000 jobs. Despite this, the year saw record job growth in the United States, with the creation of
of 6.4 million vacancies.
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