Real Estate Funds (FIIs) are a form of investment that allows the investor to acquire shares of real estate, without the need to buy the entire property. These quotas represent a fraction of the property and give the investor the right to receive a portion of the income generated by the property, either through rent or sale. Real estate funds are managed by professional managers and regulated by the Securities and Exchange Commission (CVM), which provides security and transparency to the investment.
FIIs are divided into different categories, such as brick funds, which invest directly in physical real estate; paper funds, which invest in real estate debt securities such as Real Estate Receivables Certificates (CRIs) and Agribusiness Certificates (CRAs); and funds of funds, which invest in other real estate funds.
The CRI is a long-term credit instrument used to finance real estate projects. By investing in CRIs, the investor is indirectly financing the real estate sector and is entitled to receive interest and monetary restatements on the amount invested. CRIs are exempt from Income Tax for individuals, which makes this investment even more attractive.
The CRA is a credit instrument similar to the CRI, but aimed at financing agribusiness. The investor who acquires CRAs is financing the agricultural sector and is entitled to receive interest and monetary corrections on the amount invested. Like CRIs, CRAs are also exempt from Income Tax for individuals.
Investing in real estate funds that invest in CRIs and CRAs can be an excellent way to diversify the investment portfolio, as these funds combine the safety and profitability of physical properties with the liquidity and flexibility of real estate credit securities. In addition, these funds allow investors to participate in the growth of the real estate and agribusiness sectors, which are key sectors for the country's economy.
However, like any investment, real estate funds and real estate credit titles also present risks. The main risk is market risk, which is related to fluctuations in the price of fund and bond shares. Another risk is the credit risk, which is related to the bond issuer's ability to honor its financial commitments. Therefore, it is important for investors to study the fund and the security well before investing and to diversify their investment portfolio to minimize risks.
In conclusion, real estate funds and real estate credit securities, such as CRIs and CRAs, are investment options that can provide good profitability and diversification for the investment portfolio. However, it is essential for the investor to understand these investments and their risks well before investing. For this, it is recommended that the investor take a course on investments in real estate funds, to acquire the necessary knowledge to invest safely and profitably.
