[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"documento:AFHF11:100":3,"fii-documento:AFHF11":16,"seo:\u002Fdetalhes\u002FAFHF11\u002Fdocumentos\u002F100":218},{"id":4,"descricao":5,"assunto":6,"tipo":7,"situacao":8,"texto":9,"link_pdf":10,"estruturado":11,"link_original":12,"data_referencia":13,"data_entrega":14,"versao":15},100,"(AFHF) Relatório Gerencial - 30\u002F04\u002F2026","Relatório Gerencial - 04\u002F2026","Relatórios","(Ativo)","\u003Ch3>AF Invest Real Estate Multiestratégia FII - AFHF11 Relatório de Gestão\u003C\u002Fh3>\u003Cp>Administrador, Escriturador e Custodiante\u003C\u002Fp>\u003Ch3>OBJETIVO\u003C\u002Fh3>\u003Cp>BancoDaycoval\u003C\u002Fp>\u003Cp>Recebimento de rendimentos e apuração de ganhos de capital por meio de investimentos em Certificados de Recebíveis Imobiliários (CRIs), cotas de Fundos de Investimento Imobiliário (FIIs), ativos reais e ações listadas de companhias do setor imobiliário.\u003C\u002Fp>\u003Cp>\u003Cstrong>GESTORA\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>INÍCIO DO FUNDO\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>AF Invest Real Estate\u003C\u002Fp>\u003Cp>01 de julho de 2025\u003C\u002Fp>\u003Cp>\u003Cstrong>ADMINISTRADOR\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>TAXAS DE ADM¹\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>Banco Daycoval\u003C\u002Fp>\u003Cp>1,03% a.a.\u003C\u002Fp>\u003Cp>\u003Cstrong>TAXA DE PERFOMANCE\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>PATRIMÔNIO LÍQUIDO\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>15% do que exceder 100% do CDI\u003C\u002Fp>\u003Cp>R$ 51,2 M\u003C\u002Fp>\u003Cp>\u003Cstrong>COTA PATRIMONIAL\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>NÚMERO DE COTAS\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>10,24\u003C\u002Fp>\u003Cp>5.000.000\u003C\u002Fp>\u003Cp>\u003Cstrong>COTA MERCADO\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>COTISTAS\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>10,00\u003C\u002Fp>\u003Cp>916\u003C\u002Fp>\u003Cp>\u003Cstrong>CNPJ\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>60.077.386\u002F0001-61\u003C\u002Fp>\u003Ch3>Resultados do mês\u003C\u002Fh3>\u003Cp>\u003Cstrong>Resultado gerado no mês\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>R$ 0,120\u003C\u002Fp>\u003Cp>\u003Cstrong>Resultado distribuído no mês\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>R$ 0,130\u003C\u002Fp>\u003Cp>\u003Cstrong>Resultado total acumulado\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>R$ 0,024\u003C\u002Fp>\u003Cp>\u003Cstrong>Resultado acumulado\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>R$ 0,008\u003C\u002Fp>\u003Cp>\u003Cstrong>Resultado acumulado de inflação não distribuído\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>R$ 0,016\u003C\u002Fp>\u003Cp>RESULTADOS DO MÊS\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F100\u002Fpage_2_chart_13.jpg\">\u003C\u002Fp>\u003Cp>jul\u002F25 ago\u002F25 set\u002F25 out\u002F25 nov\u002F25 dez\u002F25 jan\u002F26 fev\u002F26 mar\u002F26 abr\u002F26 mai\u002F26 jun\u002F26\u003C\u002Fp>\u003Cp>\u003Cstrong>RESULTADO ACUMULADO\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F100\u002Fpage_2_chart_16.jpg\">\u003C\u002Fp>\u003Ch3>Retorno de investimentos\u003C\u002Fh3>\u003Cp>Apresentamos abaixo o retorno total (TIR anualizada) obtido pelo fundo com a venda total do CRI MAC.\u003C\u002Fp>\u003Ch3>AMAC\u003C\u002Fh3>\u003Cp>\u003Cstrong>TIR anualizada\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>21,71% a.a.\u003C\u002Fp>\u003Cp>\u003Cstrong>Valor investido\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>R$ 4.804.444,67\u003C\u002Fp>\u003Cp>\u003Cstrong>Retorno\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>R$ 206.007,21\u003C\u002Fp>\u003Cp>\u003Cstrong>Prazo\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>3 meses\u003C\u002Fp>\u003Cp>\u003Cstrong>Duration\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>0,27 ano\u003C\u002Fp>\u003Cp>\u003Cstrong>Retorno equivalente\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>CDI + 6,59% a.a.\u003C\u002Fp>\u003Ch3>Palavra do Gestor\u003C\u002Fh3>\u003Ch3>RESULTADO\u003C\u002Fh3>\u003Cp>Em abril de 2026, o fundo auferiu lucro em regime de caixa de R$600.431,07. Somado ao saldo acumulado e não distribuído, de R$89.145,45, o resultado a distribuir do fundo em abril de 2026 totalizava R$689.576,42, ou R$0,14 por cota. A equipe de gestão optou por distribuir o valor de R$0,13 por cota. Desta forma, o resultado acumulado e não distribuído do fundo totaliza R$39.576,42, ou R$0,0079 por cota. O saldo acumulado de correção monetária não distribuída nos CRIs da carteira do fundo totalizava R$78.843,07, ou R$0,016 por cota, em 30\u002F04\u002F2026.\u003C\u002Fp>\u003Cp>A cota patrimonial do fundo apresentou valorização de R$0,01, saindo de R$10,23, em março, para R$10,24 em abril, em virtude da marcação a mercado realizada pelo administrador na carteira do fundo no período, cujo critério adotado é o spread sobre a NTN-B correspondente à duration de cada um dos papéis.\u003C\u002Fp>\u003Cp>Destacamos que todas as operações do fundo estão adimplentes com suas respectivas obrigações.\u003C\u002Fp>\u003Ch3>RENDIMENTOS\u003C\u002Fh3>\u003Cp>A distribuição de rendimentos referente a abril, anunciados em 15\u002F05\u002F2026 e pagos em 22\u002F05\u002F2026, totalizou R$0,13 por cota. Este valor equivale a um dividend yield mensal de 1,30% e anual de 16,77%, considerando o preço de fechamento da cota em 15\u002F05\u002F2026, qual seja de R$10,00, e corresponde a uma remuneração bruta de imposto de renda de 1,53% a.m. e 19,98% a.a.\u003C\u002Fp>\u003Ch3>MOVIMENTAÇÕES\u003C\u002Fh3>\u003Cp>CRI Inova Parque: Em 14\u002F05\u002F2026, o fundo adquiriu, no mercado primário, um volume de R$5.000.000,00, referente ao CRI Inova Parque, à taxa de CDI + 2,00% a.a. Trata-se de uma operação de com volume total de R$22.000.000,00, lastreada em Notas Comerciais emitidas pela Econ Participações S.A., cujos recursos serão destinados ao financiamento das obras do empreendimento multiuso denominado “Inova Parque”, que está sendo desenvolvido no conceito de cidade compacta em um terreno de 317 mil m², em Contagem\u002FMG, que contará com operações de torres residenciais e comerciais, open mall, hospital, faculdade, escola, hotel, clínicas, praça gastronômica e esplanada de eventos. destinadas aos setores de shoppiong que está sendo desenvolvido em um terreno de 317 mil m². A parte residencial do Inova Parque está sendo desenvolvida pela Econ em parceria com a Direcional Engenharia S.A. (DIRR3) e contará com aproximadamente 2.300 unidades. A operação conta com alienação fiduciária de terrenos avaliados em R$22.000.000,00 (liquidação forçada), cessão fiduciária dos recebíveis de dividendos de duas SCP’s que exploram os empreendimentos Celebre Residente e Inspire Calmon, com praticamente 100% das unidades vendidas, fundo de reserva equivalente a, no mínimo, 1 PMT, fundo de despesas equivalente a 12 meses de despesas recorrentes da operação e aval dos sócios na pessoa física. A operação foi estruturada pela equipe de gestão da AF Invest Real Estate.\u003C\u002Fp>\u003Cp>FII MAC Empreendimentos: Em 25\u002F05\u002F2026, o fundo vendeu, no mercado secundário, um volume de R$4.895.396,98, referente ao CR MAC Empreendimentos, à taxa de IPCA + 12,00% a.a. Conforme mencionado no relatório de fevereiro de 2026, o investimento no ativo foi uma alocação tática, com garantia de recompra por uma gestora parceira em até 90 dias da data de aquisição. A operação gerou uma TIR anualizada de 21,71% a.a. em 3 meses.\u003C\u002Fp>\u003Ch3>PROJEÇÕES\u003C\u002Fh3>\u003Cp>Conforme mencionado no último relatório, a receita de correção monetária do fundo continuará a ser positivamente impactada nos próximos dois meses, considerando o IPCA dos meses de março (+0,88%) e abril (+0,67%).\u003C\u002Fp>\u003Cp>O fundo liquidou uma das duas operações indexadas ao CDI+ mencionadas no relatório anterior. A liquidação da segunda operação está prevista para ocorrer dentro do mês de maio.\u003C\u002Fp>\u003Ch3>DRE Gerencial\u003C\u002Fh3>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>DRE\u003C\u002Fth>\u003Cth>caixa\u003C\u002Fth>\u003Cth>Fevereiro\u003C\u002Fth>\u003Cth>Março\u003C\u002Fth>\u003Cth>Abril\u003C\u002Fth>\u003Cth>Últimos 6 meses\u003C\u002Fth>\u003Cth>2026\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>(=)\u003C\u002Ftd>\u003Ctd>Receitas (R$)\u003C\u002Ftd>\u003Ctd>630.022,67\u003C\u002Ftd>\u003Ctd>682.701,96\u003C\u002Ftd>\u003Ctd>654.058,15\u003C\u002Ftd>\u003Ctd>3.967.193,47\u003C\u002Ftd>\u003Ctd>2.630.550,63\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(+)\u003C\u002Ftd>\u003Ctd>Juros\u003C\u002Ftd>\u003Ctd>432.662,06\u003C\u002Ftd>\u003Ctd>477.492,86\u003C\u002Ftd>\u003Ctd>479.173,92\u003C\u002Ftd>\u003Ctd>2.892.736,66\u003C\u002Ftd>\u003Ctd>1.805.736,64\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(+)\u003C\u002Ftd>\u003Ctd>Correção Monetária\u003C\u002Ftd>\u003Ctd>13.959,85\u003C\u002Ftd>\u003Ctd>15.190,16\u003C\u002Ftd>\u003Ctd>36.783,24\u003C\u002Ftd>\u003Ctd>79.127,41\u003C\u002Ftd>\u003Ctd>73.240,11\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(+)\u003C\u002Ftd>\u003Ctd>Negociação CRI\u003C\u002Ftd>\u003Ctd>51.975,44\u003C\u002Ftd>\u003Ctd>81.168,22\u003C\u002Ftd>\u003Ctd>52.492,15\u003C\u002Ftd>\u003Ctd>349.049,61\u003C\u002Ftd>\u003Ctd>285.162,42\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(+)\u003C\u002Ftd>\u003Ctd>Negociação FII\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>3.691,98\u003C\u002Ftd>\u003Ctd>10.983,68\u003C\u002Ftd>\u003Ctd>10.983,68\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(+)\u003C\u002Ftd>\u003Ctd>Rendimentos de Fundo Imobiliários\u003C\u002Ftd>\u003Ctd>76.057,87\u003C\u002Ftd>\u003Ctd>62.398,15\u003C\u002Ftd>\u003Ctd>70.670,32\u003C\u002Ftd>\u003Ctd>423.782,82\u003C\u002Ftd>\u003Ctd>280.284,51\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(+)\u003C\u002Ftd>\u003Ctd>Renda Fixa\u003C\u002Ftd>\u003Ctd>55.367,45\u003C\u002Ftd>\u003Ctd>46.452,56\u003C\u002Ftd>\u003Ctd>11.246,54\u003C\u002Ftd>\u003Ctd>211.513,29\u003C\u002Ftd>\u003Ctd>175.143,26\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(-)\u003C\u002Ftd>\u003Ctd>Despesas (R$)\u003C\u002Ftd>\u003Ctd>59.425,14\u003C\u002Ftd>\u003Ctd>45.901,06\u003C\u002Ftd>\u003Ctd>53.627,08\u003C\u002Ftd>\u003Ctd>418.592,46\u003C\u002Ftd>\u003Ctd>319.604,15\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(=)\u003C\u002Ftd>\u003Ctd>Resultado (R$)\u003C\u002Ftd>\u003Ctd>570.597,53\u003C\u002Ftd>\u003Ctd>636.800,90\u003C\u002Ftd>\u003Ctd>600.431,07\u003C\u002Ftd>\u003Ctd>3.548.601,01\u003C\u002Ftd>\u003Ctd>2.310.946,48\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(=)\u003C\u002Ftd>\u003Ctd>Resultado\u002FCota\u003C\u002Ftd>\u003Ctd>0,1141\u003C\u002Ftd>\u003Ctd>0,1274\u003C\u002Ftd>\u003Ctd>0,1201\u003C\u002Ftd>\u003Ctd>0,7097\u003C\u002Ftd>\u003Ctd>0,4622\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(=)\u003C\u002Ftd>\u003Ctd>Rendimento (R$)\u003C\u002Ftd>\u003Ctd>600.000,00\u003C\u002Ftd>\u003Ctd>600.000,00\u003C\u002Ftd>\u003Ctd>650.000,00\u003C\u002Ftd>\u003Ctd>3.775.000,00\u003C\u002Ftd>\u003Ctd>2.450.000,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(=)\u003C\u002Ftd>\u003Ctd>Rendimento\u002FCota\u003C\u002Ftd>\u003Ctd>0,1200\u003C\u002Ftd>\u003Ctd>0,1200\u003C\u002Ftd>\u003Ctd>0,1300\u003C\u002Ftd>\u003Ctd>0,7550\u003C\u002Ftd>\u003Ctd>0,4900\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(=)\u003C\u002Ftd>\u003Ctd>Resultado Acumulado (R$)\u003C\u002Ftd>\u003Ctd>52.344,45\u003C\u002Ftd>\u003Ctd>89.145,35\u003C\u002Ftd>\u003Ctd>39.576,42\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(=)\u003C\u002Ftd>\u003Ctd>Resultado Acumulado\u002FCota\u003C\u002Ftd>\u003Ctd>0,0105\u003C\u002Ftd>\u003Ctd>0,0178\u003C\u002Ftd>\u003Ctd>0,0079\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(#)\u003C\u002Ftd>\u003Ctd>Cotas\u003C\u002Ftd>\u003Ctd>5.000.000\u003C\u002Ftd>\u003Ctd>5.000.000\u003C\u002Ftd>\u003Ctd>5.000.000\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch3>Histórico do Fundo\u003C\u002Fh3>\u003Cp>ÚLTIMOS RENDIMENTOS DO AFHF11\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Data base\u003C\u002Fth>\u003Cth>Cotação\u003C\u002Fth>\u003Cth>Rendimento\u003C\u002Fth>\u003Cth>DY\u003C\u002Fth>\u003Cth>Rentabilidade gross-up\u003C\u002Fth>\u003Cth>Rentabilidade gross-up CDI%\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>ago\u002F25\u003C\u002Ftd>\u003Ctd>10,05\u003C\u002Ftd>\u003Ctd>0,120\u003C\u002Ftd>\u003Ctd>1,19%\u003C\u002Ftd>\u003Ctd>1,40%\u003C\u002Ftd>\u003Ctd>109,75%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>set\u002F25\u003C\u002Ftd>\u003Ctd>10,10\u003C\u002Ftd>\u003Ctd>0,130\u003C\u002Ftd>\u003Ctd>1,29%\u003C\u002Ftd>\u003Ctd>1,51%\u003C\u002Ftd>\u003Ctd>130,54%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>out\u002F25\u003C\u002Ftd>\u003Ctd>10,10\u003C\u002Ftd>\u003Ctd>0,130\u003C\u002Ftd>\u003Ctd>1,29%\u003C\u002Ftd>\u003Ctd>1,51%\u003C\u002Ftd>\u003Ctd>124,12%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>nov\u002F25\u003C\u002Ftd>\u003Ctd>10,00\u003C\u002Ftd>\u003Ctd>0,130\u003C\u002Ftd>\u003Ctd>1,30%\u003C\u002Ftd>\u003Ctd>1,53%\u003C\u002Ftd>\u003Ctd>119,49%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>dez\u002F25\u003C\u002Ftd>\u003Ctd>10,02\u003C\u002Ftd>\u003Ctd>0,130\u003C\u002Ftd>\u003Ctd>1,30%\u003C\u002Ftd>\u003Ctd>1,53%\u003C\u002Ftd>\u003Ctd>145,37%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>jan\u002F26\u003C\u002Ftd>\u003Ctd>10,06\u003C\u002Ftd>\u003Ctd>0,135\u003C\u002Ftd>\u003Ctd>1,34%\u003C\u002Ftd>\u003Ctd>1,58%\u003C\u002Ftd>\u003Ctd>129,41%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>fev\u002F26\u003C\u002Ftd>\u003Ctd>10,07\u003C\u002Ftd>\u003Ctd>0,120\u003C\u002Ftd>\u003Ctd>1,19%\u003C\u002Ftd>\u003Ctd>1,40%\u003C\u002Ftd>\u003Ctd>120,86%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>mar\u002F26\u003C\u002Ftd>\u003Ctd>10,04\u003C\u002Ftd>\u003Ctd>0,120\u003C\u002Ftd>\u003Ctd>1,20%\u003C\u002Ftd>\u003Ctd>1,41%\u003C\u002Ftd>\u003Ctd>140,61%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>abr\u002F26\u003C\u002Ftd>\u003Ctd>10,00\u003C\u002Ftd>\u003Ctd>0,12\u003C\u002Ftd>\u003Ctd>1,20%\u003C\u002Ftd>\u003Ctd>1,41%\u003C\u002Ftd>\u003Ctd>116,67%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>mai\u002F26\u003C\u002Ftd>\u003Ctd>10,00\u003C\u002Ftd>\u003Ctd>0,13\u003C\u002Ftd>\u003Ctd>1,30%\u003C\u002Ftd>\u003Ctd>1,53%\u003C\u002Ftd>\u003Ctd>140,31%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>jun\u002F26\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>jul\u002F26\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Retorno desde o início\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>1,27\u003C\u002Ftd>\u003Ctd>12,65%\u003C\u002Ftd>\u003Ctd>14,88%\u003C\u002Ftd>\u003Ctd>120,98%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>HISTÓRICO DE COTISTAS\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F100\u002Fpage_8_chart_5.jpg\">\u003C\u002Fp>\u003Cp>HISTÓRICO DE COTA PATRIMONIAL\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F100\u002Fpage_8_chart_7.jpg\">\u003C\u002Fp>\u003Ch3>Composição da Carteira | 25\u002F05\u002F2026\u003C\u002Fh3>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Ativo #\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>Devedor\u003C\u002Fth>\u003Cth>Segmento\u003C\u002Fth>\u003Cth>Tipo de risco\u003C\u002Fth>\u003Cth>Código\u003C\u002Fth>\u003Cth>Série\u003C\u002Fth>\u003Cth>Emissor\u003C\u002Fth>\u003Cth>Indexador\u003C\u002Fth>\u003Cth>Spread\u003C\u002Fth>\u003Cth>Duration\u003C\u002Fth>\u003Cth>Vencimento\u003C\u002Fth>\u003Cth>Risco\u003C\u002Fth>\u003Cth>%\u003C\u002Fth>\u003Cth>Valor\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>1\u003C\u002Ftd>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>Inova Parque\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>Corporativo\u003C\u002Ftd>\u003Ctd>26E2464853\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>Vert\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>2,00%\u003C\u002Ftd>\u003Ctd>2,62\u003C\u002Ftd>\u003Ctd>26\u002F04\u002F2030\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>9,85%\u003C\u002Ftd>\u003Ctd>5.024.557,68\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>2\u003C\u002Ftd>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>Muffato\u003C\u002Ftd>\u003Ctd>Varejo Essencial\u003C\u002Ftd>\u003Ctd>Contratual\u003C\u002Ftd>\u003Ctd>25F2703942\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Única Artesanal\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>2,50%\u003C\u002Ftd>\u003Ctd>5,18\u003C\u002Ftd>\u003Ctd>21\u002F06\u002F2035\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>9,60%\u003C\u002Ftd>\u003Ctd>4.898.746,14\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>3\u003C\u002Ftd>\u003Ctd>FII\u003C\u002Ftd>\u003Ctd>LPLP15\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>9,40%\u003C\u002Ftd>\u003Ctd>4.793.974,53\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>4\u003C\u002Ftd>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>Tibério\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>Pulverizado\u003C\u002Ftd>\u003Ctd>20K0777893\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>True\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>2,70%\u003C\u002Ftd>\u003Ctd>1,64\u003C\u002Ftd>\u003Ctd>27\u002F11\u002F2028\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>7,73%\u003C\u002Ftd>\u003Ctd>3.942.695,18\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>5\u003C\u002Ftd>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>RNI\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>Pulverizado\u003C\u002Ftd>\u003Ctd>19B0177968\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>Virgo\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>1,70%\u003C\u002Ftd>\u003Ctd>1,80\u003C\u002Ftd>\u003Ctd>15\u002F02\u002F2029\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>6,84%\u003C\u002Ftd>\u003Ctd>3.490.168,93\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>6\u003C\u002Ftd>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>TRX Mateus\u003C\u002Ftd>\u003Ctd>Varejo Essencial\u003C\u002Ftd>\u003Ctd>Contratual\u003C\u002Ftd>\u003Ctd>24K0003803\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>BariSec\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>9,10%\u003C\u002Ftd>\u003Ctd>5,40\u003C\u002Ftd>\u003Ctd>09\u002F11\u002F2039\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>7,10%\u003C\u002Ftd>\u003Ctd>3.622.892,01\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>7\u003C\u002Ftd>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>MRV\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>Pulverizado\u003C\u002Ftd>\u003Ctd>22I1423539\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>Opea\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>3,00%\u003C\u002Ftd>\u003Ctd>1,29\u003C\u002Ftd>\u003Ctd>15\u002F09\u002F2027\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>5,92%\u003C\u002Ftd>\u003Ctd>3.017.865,10\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8\u003C\u002Ftd>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>GARE Atacadão\u003C\u002Ftd>\u003Ctd>Varejo Essencial\u003C\u002Ftd>\u003Ctd>Contratual\u003C\u002Ftd>\u003Ctd>24K2582816\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>Virgo\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>9,37%\u003C\u002Ftd>\u003Ctd>4,79\u003C\u002Ftd>\u003Ctd>15\u002F12\u002F2037\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>5,95%\u003C\u002Ftd>\u003Ctd>3.033.312,90\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>9\u003C\u002Ftd>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>Cahima - Direcional\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>Contratual\u003C\u002Ftd>\u003Ctd>25J2486442 Sênior\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Opea\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>2,00%\u003C\u002Ftd>\u003Ctd>5,51\u003C\u002Ftd>\u003Ctd>20\u002F10\u002F2031\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>5,31%\u003C\u002Ftd>\u003Ctd>2.709.790,42\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>10 CRI\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>VIC Engenharia\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>Pulverizado\u003C\u002Ftd>\u003Ctd>25G5321935\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>Opea\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>4,90%\u003C\u002Ftd>\u003Ctd>2,17\u003C\u002Ftd>\u003Ctd>22\u002F07\u002F2030\u003C\u002Ftd>\u003Ctd>High Yield\u003C\u002Ftd>\u003Ctd>4,91%\u003C\u002Ftd>\u003Ctd>2.502.810,52\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>11\u003C\u002Ftd>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>Grupo Comporte\u003C\u002Ftd>\u003Ctd>Logístico\u003C\u002Ftd>\u003Ctd>Contratual\u003C\u002Ftd>\u003Ctd>23I1270600\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>Opea\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>3,50%\u003C\u002Ftd>\u003Ctd>1,87\u003C\u002Ftd>\u003Ctd>18\u002F09\u002F2030\u003C\u002Ftd>\u003Ctd>High Yield\u003C\u002Ftd>\u003Ctd>4,38%\u003C\u002Ftd>\u003Ctd>2.232.997,25\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>12\u003C\u002Ftd>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>MRV\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>Pulverizado\u003C\u002Ftd>\u003Ctd>22L1198359\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>True\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>3,00%\u003C\u002Ftd>\u003Ctd>1,49\u003C\u002Ftd>\u003Ctd>20\u002F12\u002F2027\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>4,22%\u003C\u002Ftd>\u003Ctd>2.153.633,22\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>13 CRI\u003C\u002Ftd>\u003Ctd>MRV\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>Pulverizado\u003C\u002Ftd>\u003Ctd>22L1198360\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>True\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>3,00%\u003C\u002Ftd>\u003Ctd>1,49\u003C\u002Ftd>\u003Ctd>20\u002F12\u002F2027\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>4,22%\u003C\u002Ftd>\u003Ctd>2.153.633,22\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>14 CRI\u003C\u002Ftd>\u003Ctd>Creditas\u003C\u002Ftd>\u003Ctd>Home Equity\u003C\u002Ftd>\u003Ctd>Pulverizado\u003C\u002Ftd>\u003Ctd>20J0837185\u003C\u002Ftd>\u003Ctd>Sênior\u003C\u002Ftd>\u003Ctd>Vert\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>11,64%\u003C\u002Ftd>\u003Ctd>7,10\u003C\u002Ftd>\u003Ctd>15\u002F10\u002F2040\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>2,86%\u003C\u002Ftd>\u003Ctd>1.457.162,22\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>15 CRI\u003C\u002Ftd>\u003Ctd>TRX Assaí\u003C\u002Ftd>\u003Ctd>Varejo Essencial\u003C\u002Ftd>\u003Ctd>Contratual\u003C\u002Ftd>\u003Ctd>20E0031084\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>BariSec\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>9,14%\u003C\u002Ftd>\u003Ctd>3,89\u003C\u002Ftd>\u003Ctd>10\u002F05\u002F2035\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>2,64%\u003C\u002Ftd>\u003Ctd>1.346.521,43\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>16\u003C\u002Ftd>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>Embraed\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>Pulverizado\u003C\u002Ftd>\u003Ctd>23E1295288\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>Canal\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>3,50%\u003C\u002Ftd>\u003Ctd>1,03\u003C\u002Ftd>\u003Ctd>22\u002F05\u002F2028\u003C\u002Ftd>\u003Ctd>High Yield\u003C\u002Ftd>\u003Ctd>1,14%\u003C\u002Ftd>\u003Ctd>581.910,70\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>17\u003C\u002Ftd>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>CashMe II\u003C\u002Ftd>\u003Ctd>Home Equity\u003C\u002Ftd>\u003Ctd>Pulverizado\u003C\u002Ftd>\u003Ctd>24A1781654 Sênior\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Provincia\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>10,20%\u003C\u002Ftd>\u003Ctd>2,05\u003C\u002Ftd>\u003Ctd>15\u002F01\u002F2031\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>0,67%\u003C\u002Ftd>\u003Ctd>343.124,91\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>18\u003C\u002Ftd>\u003Ctd>FlI\u003C\u002Ftd>\u003Ctd>FlI 1\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>0,33%\u003C\u002Ftd>\u003Ctd>168.600,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Caixa\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Daycoval\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>6,92%\u003C\u002Ftd>\u003Ctd>3.527.794,38\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch3>Alocação do Fundo\u003C\u002Fh3>\u003Ch3>RESUMO DA CARTEIRA\u003C\u002Fh3>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Ativo\u003C\u002Fth>\u003Cth>% Alocado\u003C\u002Fth>\u003Cth>Indexador\u003C\u002Fth>\u003Cth>Taxa média\u003C\u002Fth>\u003Cth>Durationmédia\u003C\u002Fth>\u003Cth>Spreadtesouro\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>64,13%\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>2,70%\u003C\u002Ftd>\u003Ctd>2,65\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>19,22%\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>9,61%\u003C\u002Ftd>\u003Ctd>5,14\u003C\u002Ftd>\u003Ctd>172 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src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F100\u002Fpage_11_chart_7.jpg\">\u003C\u002Fp>\u003Cp>POR RISCO\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F100\u002Fpage_11_chart_9.jpg\">\u003C\u002Fp>\u003Ch3>Alocação do Fundo\u003C\u002Fh3>\u003Cp>POR SEGMENTO\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F100\u002Fpage_12_chart_3.jpg\">\u003C\u002Fp>\u003Cp>POR SECURITIZADORA\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F100\u002Fpage_12_chart_5.jpg\">\u003C\u002Fp>\u003Cp>POR SÉRIE\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F100\u002Fpage_12_chart_7.jpg\">\u003C\u002Fp>\u003Ch3>Operações Adquiridas\u003C\u002Fh3>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F100\u002Fpage_13_image_2.jpg\">\u003C\u002Fp>\u003Ch3>INGVA PARQUE\u003C\u002Fh3>\u003Ch3>Inova Parque\u003C\u002Fh3>\u003Cp>\u003Cstrong>1ªSérieda145ªEmissãoda Vert\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>O fundo adquiriu \u003Cstrong>R$5.000.000,00\u003C\u002Fstrong> à taxa de CDI +2,00% a.a.\u003C\u002Fp>\u003Ch3>HighGrade\u003C\u002Fh3>\u003Ch3>Tipo de Risco: Corporativo.\u003C\u002Fh3>\u003Ch3>Garantiasda Operação:\u003C\u002Fh3>\u003Cp>Alienação fiduciária de terrenos avaliados em R$ 22,0 milhões (venda forçada);\u003C\u002Fp>\u003Cp>Cessão de recebíveis de dividendos de SCP's que exploram os empreendimentos Celebre Residente e Inspire Calmon;\u003C\u002Fp>\u003Cp>Fundo de reserva com saldo mínimo equivalente a 1 (uma) parcela mensal de Remuneração;\u003C\u002Fp>\u003Cp>Fundo de despesas com saldo mínimo equivalente a 12 meses dedespesas recorrentes da operação; e\u003C\u002Fp>\u003Cp>Aval dos sócios na pessoa física.\u003C\u002Fp>\u003Ch3>Alto Desempenho, Alinhamento e Segurança\u003C\u002Fh3>\u003Cp>Fundada em 2006, a AF Invest é a maior gestora de recursos independente de Minas Gerais. Dedicada a investimentos em crédito privado e renda variável no mercado de Wealth e Asset Management. Possui especializado e sólido time de análise e gestão, com rígido compliance e controle de riscos.\u003C\u002Fp>\u003Ch3>SÃO PAULO\u003C\u002Fh3>\u003Cp>RUA TABAPUA 1123, CONJ 94\u003C\u002Fp>\u003Cp>EDIFÍCIO SPAZIO DEL SOLE\u003C\u002Fp>\u003Cp>ITAIM BIBI, SÃO PAULO, SP\u003C\u002Fp>\u003Cp>04.533-014\u003C\u002Fp>\u003Cp>FAX: + 55 (16)3620-8786\u003C\u002Fp>\u003Ch3>BELO HORIZONTE\u003C\u002Fh3>\u003Cp>RUA SERGIPE, 1440, 6º ANDAR\u003C\u002Fp>\u003Cp>TEL: + 55 (11) 3078-7314\u003C\u002Fp>\u003Cp>SAVASSI, BELO HORIZONTE, MG\u003C\u002Fp>\u003Cp>30130-174\u003C\u002Fp>\u003Cp>TEL: + 55 (31)2103-6000\u003C\u002Fp>\u003Cp>FAX: + 55 (31)2103-6001\u003C\u002Fp>","https:\u002F\u002Fwww.kartac.com.br\u002Fapi\u002Ffiis\u002FAFHF11\u002Fdocumentos\u002F100\u002Fpdf",false,"https:\u002F\u002Ffnet.bmfbovespa.com.br\u002Ffnet\u002Fpublico\u002FdownloadDocumento?id=1205587","2026-04-30","2026-05-27 18:27:26",1,{"id":17,"empresa":18,"gestor":26,"cotacoes":33,"patrimonio":139,"vpa":140,"p_vpa":141,"tipo_gestao":142,"mandato":143,"segmento":144,"categoria":145,"grupo":145,"preco_atual":133,"cotacao_atualizada_em":146,"ultima_variacao_cotacao_24h":147,"variacao_cotacao_7d":148,"variacao_cotacao_1m":149,"variacao_cotacao_3m":150,"variacao_cotacao_6m":151,"variacao_cotacao_12m":152,"vacancia_fisica":143,"liquidez_atual":153,"ultimo_dividendo":154,"ultimo_dividend_yield":155,"mes_pagamento_ultimo_dividendo":156,"dividend_yield_3m":157,"dividend_yield_6m":158,"dividend_yield_12m":159,"dividend_yield_medio_12m":160,"qtd_dividendos_pagos_ano_passado":161,"data_ultima_cotacao":137,"pregoes_com_negocio_21":162,"alertas":163,"updated_at":164,"liquidez_media_reais":165,"administrador":166,"taxa_administracao_paga":143,"balanco":167,"resultado_distribuido":174,"publico_alvo":179,"mercados_negociacao_cotas":180,"data_funcionamento":183,"data_final":143,"quantidade_cotas":184,"quantidade_cotistas":185,"detalhes_cotistas":186,"total_investido":189,"investimentos_fundo":190,"imoveis":194,"contratos":143,"custodiante":196,"auditor_independente":203,"formador_mercado":143,"distribuidor_cotas":210,"consultor_especializado":143,"administrador_locacoes":143,"relatorio_anual":211,"analise_administrador":214},354,{"nome":19,"nome_simplificado":20,"nome_comercial":21,"ticker":22,"nome_ticker":23,"nome_pregao":24,"cnpj":25},"AF INVEST REAL ESTATE MULTIESTRATÉGIA FUNDO DE INVESTIMENTO IMOBILIÁRIO - RESPONSABILIDADE LIMITADA","AF INVEST REAL ESTATE MULTIESTRATÉGIA   RESPONSABILIDADE LIMITADA","AF Invest Real Estate Multiestratégia","AFHF11","AFHF11 - AF INVEST REAL ESTATE MULTIESTRATÉGIA FUNDO DE INVESTIMENTO IMOBILIÁRIO - RESPONSABILIDADE LIMITADA","FII AFHF","60.077.386\u002F0001-61",{"id":27,"nome":28,"cnpj":29,"endereco":30,"telefone":31,"created_at":32,"updated_at":32},33,"AF INVEST REAL ESTATE ADMINISTRACAO DE RECURSOS LT","43946902000128","R TABAPUA, 1123, AND 1 CONJ 18 EDIF SPAZIO DEL SOLE - ITAIM BIBI, SAO PAULO - SP - 04533-014","(31) 21036000","2026-10-03T18:52:05.000000Z",[34,40,46,51,57,62,66,71,77,82,88,92,97,102,108,112,118,124,129,135],{"id":35,"data":36,"abertura":37,"ultimo":38,"volume":39},3288846,"2026-10-06",10.29,10.3,9111,{"id":41,"data":42,"abertura":43,"ultimo":44,"volume":45},3289346,"2026-10-07",10.32,10.49,4105,{"id":47,"data":48,"abertura":49,"ultimo":38,"volume":50},3290500,"2026-10-08",10.5,17053,{"id":52,"data":53,"abertura":54,"ultimo":55,"volume":56},3291056,"2026-10-09",10.36,10.35,3778,{"id":58,"data":59,"abertura":60,"ultimo":60,"volume":61},3357266,"2026-10-13",10.37,7165,{"id":63,"data":64,"abertura":60,"ultimo":43,"volume":65},3375589,"2026-10-14",2230,{"id":67,"data":68,"abertura":43,"ultimo":69,"volume":70},3376216,"2026-10-15",10.43,8753,{"id":72,"data":73,"abertura":74,"ultimo":75,"volume":76},3377092,"2026-10-16",10.39,10.34,4417,{"id":78,"data":79,"abertura":80,"ultimo":38,"volume":81},3444821,"2026-10-19",10.45,2870,{"id":83,"data":84,"abertura":85,"ultimo":86,"volume":87},3446557,"2026-10-20",10.41,10.4,533,{"id":89,"data":90,"abertura":60,"ultimo":80,"volume":91},3459704,"2026-10-21",1459,{"id":93,"data":94,"abertura":95,"ultimo":80,"volume":96},3473739,"2026-10-22",10.48,1876,{"id":98,"data":99,"abertura":69,"ultimo":100,"volume":101},3488136,"2026-10-23",10.57,9834,{"id":103,"data":104,"abertura":105,"ultimo":106,"volume":107},3566028,"2026-10-26",10.05,10.18,14549,{"id":109,"data":110,"abertura":106,"ultimo":105,"volume":111},3580280,"2026-10-27",13065,{"id":113,"data":114,"abertura":115,"ultimo":116,"volume":117},3594259,"2026-10-28",10.16,10.21,12049,{"id":119,"data":120,"abertura":121,"ultimo":122,"volume":123},3609102,"2026-10-29",10.27,10.09,2713,{"id":125,"data":126,"abertura":122,"ultimo":127,"volume":128},3624635,"2026-10-30",10.1,4084,{"id":130,"data":131,"abertura":132,"ultimo":133,"volume":134},3682038,"2026-11-03",10.06,10,15736,{"id":136,"data":137,"abertura":133,"ultimo":133,"volume":138},3695550,"2026-11-04",7186,51010238.59,10.2,"0.98","Ativa",null,"Outros","Papel","2026-11-04 09:00","0.0000","-0.0089","-0.0291","-0.0030","-0.0020","-0.0050",67,"0.1200","0.0115","Out\u002F2026","0.0240","0.0710","0.1465","0.0121",5,21,[],"05\u002F11\u002F2026 08:05",72894.47,".BANCO DAYCOVAL S\u002FA",{"data_referencia":168,"ativo":169,"passivo":170,"obrigacoes_imoveis":171,"obrigacoes_securitizacao":171,"liquidez":172,"valores_receber":173},"2026-09-01",51209211.24,198972.65,0,6478033.9,12203.52,{"data_referencia":175,"resultado":176,"rendimentos":177,"percentual":178},"2026-06-30",4393124.84,4199999.998,0.9560393002626348,"Investidores em Geral",[181,182],"Bolsa","MBO","2025-07-01",5000000,1890,{"Pessoa Física":187,"Outros tipos de cotistas não relacionados":188,"Investidores não residentes":15},1205,684,44718973.82,{"CRI \u002F CRA":191,"Cotas de FIIs":192,"Ações":193},37837934.32,5112814.5,1768225,{"vacancia_total":171,"lista_imoveis":195,"data_referencia":175,"vacancia_suspeita":11},[],{"id":197,"nome":198,"cnpj":199,"endereco":200,"telefone":201,"created_at":202,"updated_at":202},54,"BANCO DAYCOVAL S.A","62232889000190","Avenida Paulista 1793, Bela Vista, São Paulo SP - 01311-200","(11) 3563-4389","2026-10-03T18:53:48.000000Z",{"id":204,"nome":205,"cnpj":206,"endereco":207,"telefone":208,"created_at":209,"updated_at":209},24,"ERNST & YOUNG AUDITORES INDEPENDENTES S\u002FS LTDA","61366936000125","AV PRESIDENTE JUSCELINO KUBITSCHEK 1909, SP CORP TOWER TORRE NORTE ANDAR 8 CONJ 81 – VILA NOVA CONCEIÇÃO – SÃO PAULO\u002FSP – 04.543-907","(11) 2573-3000","2026-10-03T18:51:30.000000Z",{"id":197,"nome":198,"cnpj":199,"endereco":200,"telefone":201,"created_at":202,"updated_at":202},{"ano_referencia":212,"data_disponibilizacao":213},"2026","2026-09-29",{"ResultadoFundo":215,"ConjunturaEconomica":216,"PerspectivaPeriodoSeguinte":217},"Os resultados do fundo de investimento podem ser consultados diretamente na demonstração financeira do fundo (DF). Esta documentação estara disponível para consulta em: (https:\u002F\u002Ffnet.bmfbovespa.com.br\u002Ffnet\u002Fpublico\u002FabrirGerenciadorDocumentosCVM), e proporciona uma visão detalhada do desempenho e das operações realizadas ao longo do período.","O exercício de julho de 2025 a junho de 2026 foi marcado por juros elevados por período prolongado. A Selic permaneceu em 15% a.a., maior patamar em quase duas décadas, de junho de 2025 a março de 2026, quando o Banco Central iniciou um ciclo gradual de cortes de 0,25 p.p. por reunião (14,75% em março, 14,50% em abril e 14,25% em junho de 2026). A inflação, que vinha em acomodação em 2025, voltou a acelerar no primeiro semestre de 2026 com o choque de commodities decorrente do conflito no Oriente Médio, e as expectativas para o IPCA de 2026 passaram a superar o teto da meta (4,5%), levando o Copom a adotar postura cautelosa, sem sinalização sobre o ritmo do ciclo. As expectativas para a Selic ao final de 2026 subiram ao longo do semestre, de cerca de 12% para cerca de 14%, pressionando os ativos sensíveis a juros.\n\nPara os fundos imobiliários, o período teve duas fases distintas. No segundo semestre de 2025, o IFIX deu continuidade à recuperação iniciada no início daquele ano e encerrou 2025 com alta de 21,15%. No primeiro semestre de 2026, com a reprecificação dos juros e a saída de investidores estrangeiros da bolsa, o índice avançou apenas 0,83%, o pior primeiro semestre desde 2022, com maior pressão sobre os fundos de tijolo e desempenho relativo melhor dos fundos de papel, que passaram a ser o segmento preferido das carteiras recomendadas. O mercado primário, contudo, seguiu aquecido: as emissões de FII somaram R$ 39,5 bilhões no primeiro semestre de 2026 (+103,9% em 12 meses, recorde), com a participação de pessoas físicas mais que dobrando.\n\nNo crédito imobiliário estruturado, segmento central da estratégia do Fundo, as emissões de CRI totalizaram R$ 20,3 bilhões no primeiro semestre de 2026, queda de 15,8% frente ao mesmo período de 2025, refletindo o custo elevado de captação para os devedores e a maior seletividade dos investidores","O cenário-base contempla a continuidade gradual do ciclo de cortes da Selic, condicionada à convergência da inflação, com juros reais ainda elevados em 2026 e volatilidade adicional pela proximidade do período eleitoral. No mercado de CRI, a expectativa é de manutenção de carrego elevado: os papéis em CDI seguem se beneficiando do patamar da taxa básica, enquanto os indexados a índices de preços tendem a capturar a inflação corrente acima da meta, com possibilidade de ganho de marcação a mercado à medida que a curva de juros recue. Do lado do crédito, o custo de capital elevado continua pressionando incorporadoras e projetos alavancados, o que deve manter a seletividade dos investidores, spreads atrativos nas novas emissões e a importância da análise de garantias e do monitoramento contínuo das operações.\nNo mercado de fundos imobiliários, o exercício começa com o setor negociando descontos relevantes sobre o valor patrimonial, sobretudo nos fundos de tijolo, após o pior primeiro semestre do IFIX desde 2022. Os fundos de papel tendem a seguir favorecidos enquanto a Selic permanecer elevada, pelo carrego e pela menor sensibilidade a juros, ao passo que os fundos de tijolo com ativos de qualidade e contratos resilientes são os principais candidatos à reprecificação quando o afrouxamento monetário ganhar tração. Nos fundos de desenvolvimento, a perspectiva está ligada ao ritmo de vendas e de execução dos projetos, favorecidos pela demanda nos segmentos econômicos e pela gradual redução do custo de financiamento, com atenção à evolução dos custos de construção e à liquidez dos estoques. O mercado primário aquecido e a ampliação da base de investidores pessoas físicas sustentam a liquidez do segmento, ainda que com dispersão crescente entre fundos.\nNas ações do setor imobiliário, os múltiplos das companhias do IMOB foram comprimidos pelo ciclo de juros. As incorporadoras voltadas ao Minha Casa, Minha Vida têm demonstrado maior resiliência operacional, com lançamentos e vendas sustentados pelo programa habitacional, enquanto os segmentos de média e alta renda e as administradoras de shoppings e propriedades comerciais seguem mais sensíveis ao custo de capital e tendem a ser os principais beneficiados por um ciclo consistente de queda dos juros. A volatilidade do ano eleitoral deve seguir influenciando o segmento no curto prazo.",{"title":219,"description":220,"canonical":221,"image":222,"json_ld":223,"nome":248,"resumo":283},"Relatório Gerencial AFHF11 de abril de 2026 | Kartac","Relatório Gerencial de abril de 2026 do AFHF11, entrega em 27\u002F05\u002F2026. DY 12 meses de 14,65% e P\u002FVP 0,98 em 04\u002F11\u002F2026.","https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FAFHF11\u002Fdocumentos\u002F100","https:\u002F\u002Fwww.kartac.com.br\u002Fimages\u002Fog.png",{"@context":224,"@graph":225},"https:\u002F\u002Fschema.org",[226,232,237,246,259,269],{"@type":227,"@id":228,"name":229,"url":230,"logo":231},"Organization","https:\u002F\u002Fwww.kartac.com.br\u002F#organizacao","Kartac","https:\u002F\u002Fwww.kartac.com.br\u002F","https:\u002F\u002Fwww.kartac.com.br\u002Fandroid-chrome-512x512.png",{"@type":233,"@id":234,"name":229,"url":230,"inLanguage":235,"publisher":236},"WebSite","https:\u002F\u002Fwww.kartac.com.br\u002F#site","pt-BR",{"@id":228},{"@type":238,"@id":239,"url":221,"name":219,"description":220,"inLanguage":235,"isPartOf":240,"dateModified":241,"mainEntity":242,"breadcrumb":244},"WebPage","https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FAFHF11\u002Fdocumentos\u002F100#pagina",{"@id":234},"2026-11-01",{"@id":243},"https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FAFHF11\u002Fdocumentos\u002F100#documento",{"@id":245},"https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FAFHF11\u002Fdocumentos\u002F100#migalhas",{"@type":247,"@id":243,"name":248,"alternateName":5,"url":221,"inLanguage":235,"about":249,"genre":7,"datePublished":251,"temporalCoverage":252,"author":253,"publisher":258,"isBasedOn":12},"Report","Relatório Gerencial AFHF11 de abril de 2026",{"@id":250},"https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FAFHF11#fundo","2026-05-27","2026-04",{"@type":227,"name":28,"identifier":254},{"@type":255,"propertyID":256,"value":257},"PropertyValue","CNPJ","43.946.902\u002F0001-28",{"@type":227,"name":166},{"@type":260,"@id":250,"name":21,"alternateName":261,"url":262,"category":145,"identifier":263,"provider":267},"InvestmentFund",[22,19],"https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FAFHF11",[264,266],{"@type":255,"propertyID":265,"value":22},"Ticker B3",{"@type":255,"propertyID":256,"value":25},{"@type":227,"name":28,"identifier":268},{"@type":255,"propertyID":256,"value":257},{"@type":270,"@id":245,"itemListElement":271},"BreadcrumbList",[272,275,279,281],{"@type":273,"position":15,"name":274,"item":230},"ListItem","Início",{"@type":273,"position":276,"name":277,"item":278},2,"FIIs","https:\u002F\u002Fwww.kartac.com.br\u002Franking",{"@type":273,"position":280,"name":22,"item":262},3,{"@type":273,"position":282,"name":5,"item":221},4,{"atualizado_em":284,"frases":285},"2026-11-05",[286,287,288,289,290],"Relatório Gerencial do AF Invest Real Estate Multiestratégia (AFHF11), fundo imobiliário de papel, sobre Relatório Gerencial - 04\u002F2026, referente a abril de 2026, com entrega no FundosNet (B3) em 27\u002F05\u002F2026.","No pregão de 04\u002F11\u002F2026, a cota do AFHF11 fechou a R$ 10,00, com P\u002FVP de 0,98 (valor patrimonial de R$ 10,20 por cota no informe mensal de setembro de 2026).","O último rendimento foi de R$ 0,12 por cota, com pagamento em out\u002F2026, e o dividend yield dos últimos 12 meses é de 14,65% sobre a cotação de 04\u002F11\u002F2026.","O patrimônio líquido era de R$ 51 milhões no informe mensal de setembro de 2026.","Os indicadores são os mais recentes da base do Kartac, não os do período do documento."]