KNIP11 (Kinea Price Indexes), VCJR11 (Vetis Real Interest) and ICRI11 (Itaú Credit Real Estate IPCA) stood out among the funds with the highest dividend increases last month, according to the analysis presented in the third episode of the new season of the Fiis League. In contrast, VGRE11 (Valora CRI CDI), HTMX11 (Hotel Maxinvest) and LVBI11 (Logistics VBI) drew attention for cuts in distributions.
The KNIP11 led the positive highlights, with payment of R $ 1.10 per quota, up 22.22% over the previous month. Following, VCJR11 also announced R $ 1.10, an advance of 15.79%, while the ICRI11 distributed R $ 1.15, up 15%.
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According to Marcos Baroni, presenter of LeagueThese three funds share some characteristics: they are indexed to inflation and follow a similar distribution model.
“We had a higher inflation reading, and as they are funds of indexed papers, the income was naturally increased,” he explained.
At the opposite end, Vgr11 announced a dividend of $ 0.12, a 20%drop. HTMX11, a traditional hotel fund, distributed R $ 0.798, with a decrease of 18.7%. The LVBI11 also had a reduction, with payment of R $ 0.75, a 9.64% decrease compared to the previous month.
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Baroni points out that the performance of HTMX11 is related to its thesis of purchase and sale of hotel units, an activity that has occurred less in recent months. “It’s expected, it’s part of the fund’s proposal,” he says.
LVBI11 reduces earnings after vacancy of logistics asset
In the case of the LVBI11, the impact came from the vacancy in Assets Mauá, after the departure of the Supermarket Network. The management decision was to reduce the performance to the base level, even with a reserve accumulated of $ 0.30 per quota.
“The rational was to break the news at once. We preferred to adjust to $ 0.75 (before it was $ 0.83) and resume the distribution as the vacancy is being occupied,” explained Rodrigo Abbud, partner and CEO Brazil of Real Estate in Patria, the fund manager.
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For Abbud, the scenario of the logistics sector is still warm, and a good demand should appear for the asset in Mauá. The expectation is for gradual recovery of the occupation and, with this, the income.
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