Focused on investing in real estate receivables certificates (CRI), Riza Akin (RZAK11) will end June as the FII that distributed the most dividends, according to data from Economatica, a financial information platform. As has been the case in recent years, receivables funds dominated the list of the biggest payers in the period.
The survey is based on the 106 real estate funds that make up the IFIX – an index that gathers B3’s most liquid FIIs. All portfolios have already announced dividend distributions planned for this month.
Of the 106 monitored funds, 50 had a rate of return with dividends (dividend yield) above 1% in the month. The number is higher than the 46 registered in May.
This week, Riza Akin deposited BRL 1.80 per share, equivalent to a monthly return of 1.82%, considering the exchange rate of BRL 98.84 on June 14th. The percentage is the highest for the month, according to Economatica data. Check out the list of the 10 biggest payers of June:
|ticker||Background||Sector||Return with dividends – June (%)*|
|RZAK11||Riza Akin Investment Fund-Unica||Titles and Val. furniture||1.82|
|URPR11||Urca Prime Income||Titles and Val. furniture||1.81|
|VCJR11||Vectis Real Interest||Titles and Val. furniture||1.78|
|ARCT11||Riza Arctium Real Estate||Hybrid||1.77|
|VGIP11||Valora Cri Price Index||Titles and Val. furniture||1.75|
|REC11||REC Receivables||Titles and Val. furniture||1.71|
|KNHY11||Kinea High Yield CRI||Titles and Val. furniture||1.67|
|KNIP11||Kinea Price Indices||Titles and Val. furniture||1.65|
|DEVA11||Devant Receivables||Titles and Val. furniture||1.62|
|NCHB11||NCH Eqi High Yield Receivables||Titles and Val. furniture||1.59|
Source: Economatica –
To calculate the rate of return, the quotation on 05/31/2022 was considered
Riza Arctium Real Estate (ARCT11), featured in the list of the highest payers in May, consolidated in June in the fourth position of the list of FIIs with the highest dividends, with a rate of return of 1.77%, against 1.92% of the previous month.
Last Wednesday (22), Riza Arctium Real Estate paid R$1.86 per share. In 12 months, the fund accumulates a dividend return of 17%.
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Riza Akin (RZAK11), top payer of the month
Focused on investment in CRI, Riza Akin has a net worth of R$315 million. Currently, 58.2% of the securities in the portfolio are indexed to the CDI rate (interbank deposit certificate), which follows the rise in the basic interest rate, the Selic, currently at 13.25% per year.
“Management maintains a positive vision for a greater allocation of papers indexed to the CDI rate, followed by IPCA papers, according to the current positioning of the fund”, highlights the portfolio’s management report.
In addition, the document indicates that the performance of the portfolio benefited from non-recurring revenues. “The portfolio continues to take advantage of one-off captures of capital gains in operations for the sale of receivables and receipts of extraordinary gains”, the document details.
In the assessment of Luís Nuin, an FII analyst at Levante, the sign of extraordinary gains should not be ignored by investors. [as últimas distribuições] “It is very important to point out that [emissão de dívida] are related to non-recurring operations”, he reinforces. “Extraordinary gains may be related to leveraged operations
that the fund has done recently”, he suggests.
Source: FII RZAK11
“Paper” FIIs continue to play a leading role
Of the ten FIIs that paid the most dividends in June, nine are receivables – or “paper” funds, as they are also known. These funds invest in fixed income securities linked to inflation indices or to the CDI rate.
“We continue to find the ‘paper’ segment more attractive for the short and medium term due to the complicated environment that is brewing ahead”, evaluates Nuin, remembering especially the inflationary pressure and the current monetary tightening. “And what corroborates the greater exposure to the paper segment is that this level of interest should remain for some time”, he predicts.
Last week, the Central Bank’s Monetary Policy Committee (Copom) raised the Selic rate by 0.50 percentage point, to 13.25% per year, the highest level since December 2016. It was the 11th rate hike since February 2016. 2021.
In the minutes released to the market, the collegiate admitted that inflation should not converge to the center of the target in 2023, despite the extension of the cycle of high interest rates. The Copom also signaled that the Selic rate will need to rise more and remain at high levels for a longer time to combat the rise in prices.
The forecast reinforces the strength of the “paper” funds to continue distributing dividends at the pace seen in recent months, signals Nuin.
FIIs that paid the most dividends in the last 12 months In the last 12 months, Valora Hedge Fund (VGHF11) has the best dividend yield
|among Ifix real estate funds. In the period, the portfolio boasts a rate of return with dividends of 17.72%. Two other funds show gains of around 17%, Urca Prime Renda (URPR11) – the biggest payer in 2021 – and Riza Arctium Real Estate (ARCT11).||ticker||Background||Sector|
|Return with dividends – 12 months (%)*||VGHF11||Valora Hedge Fund||Titles and Val. furniture|
|17.72||URPR11||Urca Prime Income||Titles and Val. furniture|
|17.03||ARCT11||Riza Arctium Real Estate||Hybrid|
|17.00||VGIP11||Valora Cri Price Index||Titles and Val. furniture|
|15.75||ARRI11||Reit Lobby Receivables||Titles and Val. furniture|
|15.62||AFHI11||AF Invest Cri||Titles and Val. furniture|
|15.17||DEVA11||Devant Receivables||Titles and Val. furniture|
|15.15||VCJR11||Vectis Real Interest||Titles and Val. furniture|
|15.06||KNIP11||Kinea Price Indices||Titles and Val. furniture|
|14.91||SPTW11||SP Downtown||Corporate Slabs|
To calculate the rate of return, the quotation on 06/22/2021 was considered
Valora Hedge Fund is a fund with a multi-strategy profile, which can invest in CRI, shares of other FIIs, investment funds in credit rights (FIDC), investment and equity fund (FIP), in addition to real estate debentures and shares of listed companies. In the purse. Currently, 14% of the fund’s portfolio is in the capital gain strategy, with shares in shopping malls and real estate developers. Within the income-oriented portfolio, CRIs account for 60.6% of the portfolio. At the beginning of the month, Valora Hedge Fund distributed BRL 0.14 per share, an amount equivalent to a monthly return of 1.43%. In December 2021, the fund reached a dividend yieldmonthly rate of 1.80%, as shown on the Valora Hedge Fund page on
Ifix dividend return reaches highest level in history The Ifix dividend rate of return reached 12.42% in the last 12 months ended in May, the highest level in the historical series, according to Flow Imobiliário, monthly report by XP Investimentos released last Tuesday (21). In addition to reaching the highest level in recent years, the
dividend yield Ifix also distanced itself from the yields of NTN-B maturing in 2035, a long-term public security issued by the federal government. The difference reached 6.71 percentage points, a level higher than the historical average of 3.19 percentage points. The result was influenced by
of “paper” funds which, in May, hit 16.05%, according to Flow Imobiliário.
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