[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"documento:AFHF11:7771":3,"seo:\u002Fdetalhes\u002FAFHF11\u002Fdocumentos\u002F7771":16,"fii-documento:AFHF11":96},{"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},7771,"(AFHF) Relatório Gerencial - 31\u002F07\u002F2026","Relatório Gerencial","Relatórios","(Ativo)","\u003Ch3>AF Invest Real Estate MultiestratÈgia FII - AFHF11 RelatÛrio de Gest„o\u003C\u002Fh3>\u003Cp>\u003Cstrong>Administrador, Escriturador e Custodiante\u003C\u002Fstrong>\u003C\u002Fp>\u003Ch3>OBJETIVO\u003C\u002Fh3>\u003Cp>BancoDaycoval\u003C\u002Fp>\u003Cp>\u003Cstrong>Recebimento de rendimentos e apuraÁ„o de ganhos de capital por meio de investimentos em Certificados de RecebÌveis Imobili·rios (CRIs), cotas de Fundos de Investimento Imobili·rio (FIIs), ativos reais e aÁıes listadas de companhias do setor imobili·rio.\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>GESTORA\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>INÕCIO DO FUNDO\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>AF Invest Real Estate\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>01 de julho de 2025\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>ADMINISTRADOR\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>TAXAS DE ADM¹\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>Banco Daycoval\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>1,03% a.a.\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>TAXA DE PERFOMANCE\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>PATRIM‘NIO LÕQUIDO\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>15% do que exceder 100% do CDI\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>R$ 51,0 M\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>COTA PATRIMONIAL\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>N⁄MERO DE COTAS\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>10,21\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>5.000.000\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>COTA MERCADO\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>COTISTAS\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>10,00\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>1.266\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>CNPJ\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>60.077.386\u002F0001-61\u003C\u002Fstrong>\u003C\u002Fp>\u003Ch3>Resultados do mÍs\u003C\u002Fh3>\u003Cp>\u003Cstrong>Resultado gerado no mÍs\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>R$ 0,123\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>Resultado distribuÌdo no mÍs\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>R$ 0,120\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>Resultado total acumulado\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>R$ 0,085\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>Resultado acumulado\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>R$ 0,077\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>Resultado acumulado de inflaÁ„o n„o distribuÌdo\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>R$ 0,008\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>RESULTADOS DO M S\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7771\u002Fpage_2_chart_13.jpg\">\u003C\u002Fp>\u003Cp>RESULTADO ACUMULADO\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7771\u002Fpage_2_chart_15.jpg\">\u003C\u002Fp>\u003Ch3>Palavra do Gestor\u003C\u002Fh3>\u003Ch3>RESULTADO\u003C\u002Fh3>\u003Cp>\u003Cstrong>Em julho de 2026, o fundo auferiu lucro em regime de caixa de R$615.137,24. Somado ao saldo acumulado e n„o distribuÌdo, de R$317.754,54, o resultado a distribuir do fundo em julho de 2026 totalizava R$986.891,98, ou R$0,197 por cota. A equipe de gest„o optou por distribuir o valor de R$0,120 por cota. Desta forma, o resultado acumulado e n„o distribuÌdo do fundo totaliza R$386.891,98, ou R$0,077 por cota. O saldo acumulado de correÁ„o monet·ria n„o distribuÌda nos CRI’s da carteira do fundo totalizava R$40.47127, ou R$0,008 por cota, em 31\u002F07\u002F2026.\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>A cota patrimonial do fundo apresentou uma desvalorizaÁ„o de R$0,07, saindo de R$10,28, em junho, para R$10,21 em julho. A variaÁ„o decorreu (i) pelo pagamento extraordin·rio de dividendos do mÍs de julho, encerramento de semestre, de R$0,22 por cota; e (ii) pela marcaÁ„o a mercado realizada pelo administrador na carteira do fundo no perÌodo, cujo critÈrio adotado È o spread sobre a NTN-B correspondente ‡\u003C\u002Fstrong> duration \u003Cstrong>de cada um dos papÈis.\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>Destacamos que todas as operaÁıes do fundo est„o adimplentes com suas respectivas obrigaÁıes.\u003C\u002Fstrong>\u003C\u002Fp>\u003Ch3>RENDIMENTOS\u003C\u002Fh3>\u003Cp>\u003Cstrong>A distribuiÁ„o de rendimentos referente a julho, anunciados em 14\u002F08\u002F2026 e pagos em 21\u002F08\u002F2026, totalizou R$0,120 por cota. Este valor equivale a um\u003C\u002Fstrong> dividend yield \u003Cstrong>mensal de 1,20% e anual de 15,39%, considerando o preÁo de fechamento da cota em 14\u002F08\u002F2026, qual seja de R$10,00, e corresponde a uma remuneraÁ„o bruta de imposto de renda de 1,41% a.m. e 18,32% a.a.\u003C\u002Fstrong>\u003C\u002Fp>\u003Ch3>MOVIMENTA«’ES\u003C\u002Fh3>\u003Cp>\u003Cstrong>AÁ„o 2: Entre 22\u002F07\u002F2026 e 11\u002F08\u002F2026, o fundo adquiriu um volume de R$ 665.600,00 de uma aÁ„o listada no Õndice Imobili·rio – IMOB, j· presente na carteira do fundo.\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>AÁ„o 1: Entre os dias 23\u002F07\u002F2026 e 17\u002F08\u002F2026, o fundo adquiriu um volume de R$632.455,00 de uma aÁ„o listada no Õndice Imobili·rio – IMOB, j· presente na carteira do fundo.\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>FII 2: Entre os dias 23\u002F07\u002F2026 e 18\u002F08\u002F2026, o fundo adquiriu um volume de R$ 171.791,59 de um fundo imobili·rio negociado em bolsa. Como parte da estratÈgia da equipe de gest„o, a identificaÁ„o dos respectivos fundos ser· realizada quando: (i) o AFHF11 concluir a aquisiÁ„o da posiÁ„o alvo, alocando todo o montante que a gest„o considerar adequado; ou (ii) ocorrer a venda da posiÁ„o alocada no ativo.\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>CRI GARE Atacad„o: Entre os dias 06\u002F08\u002F2026 e 19\u002F08\u002F2026, o fundo comprou, no mercado secund·rio, um volume de R$ 554.324,72, referente ao CRI GARE Atacad„o, ‡ taxa mÈdia de IPCA +9,28% a.a. Trata-se da mesma operaÁ„o j· presente na carteira do fundo no volume total de R$384.000.000,00 lastreada em recebÌveis imobili·rios devidos pelo Carrefour S.A., maior rede varejista do Brasil, com presenÁa em todo o paÌs e 1.041 pontos de venda distribuÌdos por todos os estados. A operaÁ„o foi estruturada para a aquisiÁ„o de 15 lojas pelo Guardian Real Estate (GARE11), localizadas em Araraquara\u002FSP, Atibaia\u002FSP, Barretos\u002FSP, Caraguatatuba\u002FSP, Boa Vista\u002FRR, Presidente Prudente\u002FSP, Campo Grande\u002FMS, Maring·\u002FPR, Santa B·rbara D’Oeste\u002FSP, An·polis\u002FGO, Fortaleza EusÈbio\u002FCE, Lucas do Rio Verde\u002FMT, Cuiab· Tijuca\u002FMT, Barra do GarÁa\u002FMT e TrÍs Lagoas\u002FMS. A operaÁ„o conta com alienaÁ„o fiduci·ria dos 15 imÛveis, avaliados em R$ 768 milhıes e fundo de despesas.\u003C\u002Fstrong>\u003C\u002Fp>\u003Ch3>MOVIMENTA«’ES\u003C\u002Fh3>\u003Cp>\u003Cstrong>CRI Embraed: Em 31\u002F07\u002F2026, o fundo comprou, no mercado secund·rio, um volume de R$ 820.926,70, referente ao CRI Embraed, ‡ taxa mÈdia de CDI + 6,99%. Trata-se da mesma operaÁ„o j· presente na carteira do fundo. A operaÁ„o È lastreada em recebÌveis pulverizados de incorporaÁ„o e conta com fianÁa, alienaÁ„o fiduci·ria do imÛvel, cess„o fiduci·ria dos recebÌveis e fundo de reserva. A alocaÁ„o em CDI+, com\u003C\u002Fstrong> duration \u003Cstrong>reduzida, permite ao fundo capturar o carrego gerado pelo atual patamar da taxa SELIC.\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>FII 1: Em 11\u002F08\u002F2026, o fundo adquiriu, um volume de R$19.302,60, de um fundo imobili·rio j· presente na carteira do fundo, aproveitando pontual oscilaÁ„o na cotaÁ„o do ativo para aumentar exposiÁ„o.\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>FII 3: Em 21\u002F08\u002F2026, o fundo adquiriu, um volume de R$59.650,00, de um fundo imobili·rio negociado em bolsa. Como parte da estratÈgia da equipe de gest„o, a identificaÁ„o do respectivo fundo ser· realizada quando: (i) o AFHF11 concluir a aquisiÁ„o da posiÁ„o alvo, alocando todo o montante que a gest„o considerar adequado; ou (ii) ocorrer a venda da posiÁ„o alocada no ativo.\u003C\u002Fstrong>\u003C\u002Fp>\u003Ch3>PROJE«’ES\u003C\u002Fh3>\u003Cp>\u003Cstrong>Conforme demonstrado na seÁ„o “Movimentações” deste relatÛrio, a equipe de gest„o segue aproveitando as oscilaÁıes observadas no mercado secund·rio de FII’s e aÁıes do setor imobili·rio para aumentar, de forma gradual, a exposiÁ„o em ativos que apresentam fundamentos sÛlidos, carrego atrativo e preÁos que entendemos n„o refletir integralmente o valor justo dos ativos. A estratÈgia busca capturar tanto o retorno recorrente proporcionado pelos ativos quanto eventual valorizaÁ„o das cotas e aÁıes ‡ medida que essas distorÁıes de preÁo sejam corrigidas pelo mercado.\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>No mercado de CRI’s, a equipe de gest„o tambÈm segue atenta ‡s oportunidades no mercado secund·rio. As aquisiÁıes recentes dos CRI’s GARE Atacad„o e Embraed refletem a estratÈgia de aproveitar as condiÁıes de mercado para aumentar posiÁıes em operaÁıes j· conhecidas, com taxas acimas da taxa mÈdia de aquisiÁ„o.\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>Adicionalmente, a equipe segue estruturando uma nova operaÁ„o indexada ao IPCA+, com previs„o de liquidaÁ„o nos prÛximos dois meses, mantendo a estratÈgia de buscar novas alocaÁıes com spreads atrativos, garantias adequadas e sem deterioraÁ„o do nÌvel de risco da carteira.\u003C\u002Fstrong>\u003C\u002Fp>\u003Ch3>DRE Gerencial\u003C\u002Fh3>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>DRE\u003C\u002Fth>\u003Cth>caixa\u003C\u002Fth>\u003Cth>Maio\u003C\u002Fth>\u003Cth>Junho\u003C\u002Fth>\u003Cth>Julho\u003C\u002Fth>\u003Cth>⁄ltimos 6 meses\u003C\u002Fth>\u003Cth>2026\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>(=)\u003C\u002Ftd>\u003Ctd>Receitas (R$)\u003C\u002Ftd>\u003Ctd>727.907,55\u003C\u002Ftd>\u003Ctd>1.466.540,27\u003C\u002Ftd>\u003Ctd>666.536,34\u003C\u002Ftd>\u003Ctd>4.827.766,94\u003C\u002Ftd>\u003Ctd>5.491.534,79\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(+)\u003C\u002Ftd>\u003Ctd>Juros\u003C\u002Ftd>\u003Ctd>443.652,03\u003C\u002Ftd>\u003Ctd>446.233,02\u003C\u002Ftd>\u003Ctd>476.777,07\u003C\u002Ftd>\u003Ctd>2.755.990,96\u003C\u002Ftd>\u003Ctd>3.172.398,76\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(+)\u003C\u002Ftd>\u003Ctd>CorreÁ\"o Monet·ria\u003C\u002Ftd>\u003Ctd>68.549,24\u003C\u002Ftd>\u003Ctd>52.437,81\u003C\u002Ftd>\u003Ctd>37.356,05\u003C\u002Ftd>\u003Ctd>224.276,35\u003C\u002Ftd>\u003Ctd>231.583,21\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(+)\u003C\u002Ftd>\u003Ctd>NegociaÁ\"o CRI\u003C\u002Ftd>\u003Ctd>115.382,55\u003C\u002Ftd>\u003Ctd>836.588,49\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>1.137.606,85\u003C\u002Ftd>\u003Ctd>1.237.133,46\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(+)\u003C\u002Ftd>\u003Ctd>NegociaÁ\"o FII\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>3.691,98\u003C\u002Ftd>\u003Ctd>10.983,68\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(+)\u003C\u002Ftd>\u003Ctd>Rendimentos de Fundo Imobili·rios\u003C\u002Ftd>\u003Ctd>66.494,90\u003C\u002Ftd>\u003Ctd>66.419,88\u003C\u002Ftd>\u003Ctd>77.066,14\u003C\u002Ftd>\u003Ctd>419.107,26\u003C\u002Ftd>\u003Ctd>490.265,43\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(+)\u003C\u002Ftd>\u003Ctd>Renda Fixa\u003C\u002Ftd>\u003Ctd>33.828,83\u003C\u002Ftd>\u003Ctd>64.861,07\u003C\u002Ftd>\u003Ctd>75.337,08\u003C\u002Ftd>\u003Ctd>287.093,53\u003C\u002Ftd>\u003Ctd>349.170,24\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(-)\u003C\u002Ftd>\u003Ctd>Despesas (R$)\u003C\u002Ftd>\u003Ctd>62.217,85\u003C\u002Ftd>\u003Ctd>50.051,65\u003C\u002Ftd>\u003Ctd>51.399,10\u003C\u002Ftd>\u003Ctd>322.621,88\u003C\u002Ftd>\u003Ctd>483.272,75\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(=)\u003C\u002Ftd>\u003Ctd>Resultado (R$)\u003C\u002Ftd>\u003Ctd>665.689,70\u003C\u002Ftd>\u003Ctd>1.416.488,62\u003C\u002Ftd>\u003Ctd>615.137,24\u003C\u002Ftd>\u003Ctd>4.505.145,06\u003C\u002Ftd>\u003Ctd>5.008.262,04\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(=)\u003C\u002Ftd>\u003Ctd>Resultado\u002FCota\u003C\u002Ftd>\u003Ctd>0,1331\u003C\u002Ftd>\u003Ctd>0,2833\u003C\u002Ftd>\u003Ctd>0,1230\u003C\u002Ftd>\u003Ctd>0,9010\u003C\u002Ftd>\u003Ctd>1,0017\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(=)\u003C\u002Ftd>\u003Ctd>Rendimento (R$)\u003C\u002Ftd>\u003Ctd>650.000,00\u003C\u002Ftd>\u003Ctd>1.100.000,00\u003C\u002Ftd>\u003Ctd>600.000,00\u003C\u002Ftd>\u003Ctd>4.200.000,00\u003C\u002Ftd>\u003Ctd>4.800.000,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(=)\u003C\u002Ftd>\u003Ctd>Rendimento\u002FCota\u003C\u002Ftd>\u003Ctd>0,1300\u003C\u002Ftd>\u003Ctd>0,2200\u003C\u002Ftd>\u003Ctd>0,1200\u003C\u002Ftd>\u003Ctd>0,8400\u003C\u002Ftd>\u003Ctd>0,9600\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(=)\u003C\u002Ftd>\u003Ctd>Resultado Acumulado (R$)\u003C\u002Ftd>\u003Ctd>55.266,12\u003C\u002Ftd>\u003Ctd>371.754,74\u003C\u002Ftd>\u003Ctd>386.891,98\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>(=)\u003C\u002Ftd>\u003Ctd>Resultado Acumulado\u002FCota\u003C\u002Ftd>\u003Ctd>0,0111\u003C\u002Ftd>\u003Ctd>0,0744\u003C\u002Ftd>\u003Ctd>0,0774\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>HistÛrico do Fundo\u003C\u002Fh3>\u003Ch3>⁄LTIMOS RENDIMENTOS DO AFHF11\u003C\u002Fh3>\u003Ctable>\u003Ctr>\u003Ctd>Data base\u003C\u002Ftd>\u003Ctd>Cotação\u003C\u002Ftd>\u003Ctd>Rendimento\u003C\u002Ftd>\u003Ctd>DY\u003C\u002Ftd>\u003Ctd>Rentabilidade gross-up\u003C\u002Ftd>\u003Ctd>Rentabilidade gross-up CDI%\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>0,120\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>0,130\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>10,03\u003C\u002Ftd>\u003Ctd>0,130\u003C\u002Ftd>\u003Ctd>1,30%\u003C\u002Ftd>\u003Ctd>1,52%\u003C\u002Ftd>\u003Ctd>142,51%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>jul\u002F26\u003C\u002Ftd>\u003Ctd>10,17\u003C\u002Ftd>\u003Ctd>0,220\u003C\u002Ftd>\u003Ctd>2,16%\u003C\u002Ftd>\u003Ctd>2,54%\u003C\u002Ftd>\u003Ctd>227,23%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ago\u002F26\u003C\u002Ftd>\u003Ctd>10,00\u003C\u002Ftd>\u003Ctd>0,120\u003C\u002Ftd>\u003Ctd>1,20%\u003C\u002Ftd>\u003Ctd>1,41%\u003C\u002Ftd>\u003Ctd>115,72%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd colspan=\"8\">1,735 17,35% Retorno desde o início\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftable>\u003Cp>HIST”RICO DE COTISTAS\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7771\u002Fpage_8_chart_5.jpg\">\u003C\u002Fp>\u003Cp>HIST”RICO DE COTA PATRIMONIAL\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7771\u002Fpage_8_chart_7.jpg\">\u003C\u002Fp>\u003Ch3>ComposiÁ„o da Carteira | 21\u002F08\u002F2026\u003C\u002Fh3>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>#\u003C\u002Fth>\u003Cth>Ativo\u003C\u002Fth>\u003Cth>Devedor\u003C\u002Fth>\u003Cth>Segmento\u003C\u002Fth>\u003Cth>Tipo de risco\u003C\u002Fth>\u003Cth>Código\u003C\u002Fth>\u003Cth>Série 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>Inova Parque CRI\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>2,57\u003C\u002Ftd>\u003Ctd>26\u002F04\u002F2030\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>9,59%\u003C\u002Ftd>\u003Ctd>4.890.507,89\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>2\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>9,57%\u003C\u002Ftd>\u003Ctd>4.881.124,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>3\u003C\u002Ftd>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>JRM\u003C\u002Ftd>\u003Ctd>Varejo Essencial\u003C\u002Ftd>\u003Ctd>Contratual\u003C\u002Ftd>\u003Ctd>25F2703942\u003C\u002Ftd>\u003Ctd>Única Artesanal\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>2,50%\u003C\u002Ftd>\u003Ctd>5,12\u003C\u002Ftd>\u003Ctd>21\u002F06\u002F2035\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>9,48%\u003C\u002Ftd>\u003Ctd>4.835.876,07\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>4\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>Virgo Única\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>9,52%\u003C\u002Ftd>\u003Ctd>4,74\u003C\u002Ftd>\u003Ctd>15\u002F12\u002F2037\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>8,33%\u003C\u002Ftd>\u003Ctd>4.248.167,11\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>5\u003C\u002Ftd>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>Tibério\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>Pulverizado\u003C\u002Ftd>\u003Ctd>20K0777893\u003C\u002Ftd>\u003Ctd>Única True\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>2,70%\u003C\u002Ftd>\u003Ctd>1,60\u003C\u002Ftd>\u003Ctd>27\u002F11\u002F2028\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>6,57%\u003C\u002Ftd>\u003Ctd>3.351.453,40\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>6\u003C\u002Ftd>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>RNI\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>Pulverizado\u003C\u002Ftd>\u003Ctd>19B0177968 Única\u003C\u002Ftd>\u003Ctd>Virgo\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>1,70%\u003C\u002Ftd>\u003Ctd>1,29\u003C\u002Ftd>\u003Ctd>15\u002F02\u002F2029\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>6,46%\u003C\u002Ftd>\u003Ctd>3.296.858,17\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 Opea\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>3,00%\u003C\u002Ftd>\u003Ctd>1,24\u003C\u002Ftd>\u003Ctd>15\u002F09\u002F2027\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>5,91%\u003C\u002Ftd>\u003Ctd>3.013.186,39\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8\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>Opea\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>2,00%\u003C\u002Ftd>\u003Ctd>5,36\u003C\u002Ftd>\u003Ctd>20\u002F10\u002F2031\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>5,38%\u003C\u002Ftd>\u003Ctd>2.744.262,12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>9\u003C\u002Ftd>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>VIC Engenharia\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>Pulverizado\u003C\u002Ftd>\u003Ctd>25G5321935 Única\u003C\u002Ftd>\u003Ctd>Opea\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>4,90%\u003C\u002Ftd>\u003Ctd>1,93\u003C\u002Ftd>\u003Ctd>22\u002F07\u002F2030\u003C\u002Ftd>\u003Ctd>High Yield\u003C\u002Ftd>\u003Ctd>4,98%\u003C\u002Ftd>\u003Ctd>2.540.474,92\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>10 CRI\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Grupo Comporte\u003C\u002Ftd>\u003Ctd>Logístico\u003C\u002Ftd>\u003Ctd>Contratual\u003C\u002Ftd>\u003Ctd>Única 23I1270600\u003C\u002Ftd>\u003Ctd>Opea\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>3,50%\u003C\u002Ftd>\u003Ctd>1,80\u003C\u002Ftd>\u003Ctd>18\u002F09\u002F2030\u003C\u002Ftd>\u003Ctd>High Yield\u003C\u002Ftd>\u003Ctd>4,20%\u003C\u002Ftd>\u003Ctd>2.140.715,82\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>11 CRI\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>MRV\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>Pulverizado\u003C\u002Ftd>\u003Ctd>22L1198359 Única\u003C\u002Ftd>\u003Ctd>True\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>3,00%\u003C\u002Ftd>\u003Ctd>1,19\u003C\u002Ftd>\u003Ctd>20\u002F12\u002F2027\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>4,07%\u003C\u002Ftd>\u003Ctd>2.075.851,89\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>12 CRI\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>MRV\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>Pulverizado\u003C\u002Ftd>\u003Ctd>Única 22L1198360\u003C\u002Ftd>\u003Ctd>True\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>3,00%\u003C\u002Ftd>\u003Ctd>1,19\u003C\u002Ftd>\u003Ctd>20\u002F12\u002F2027\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>4,07%\u003C\u002Ftd>\u003Ctd>2.075.832,92\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>13\u003C\u002Ftd>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>Embraed\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>Pulverizado\u003C\u002Ftd>\u003Ctd>23E1295288 Única\u003C\u002Ftd>\u003Ctd>Canal\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>3,50%\u003C\u002Ftd>\u003Ctd>0,82\u003C\u002Ftd>\u003Ctd>22\u002F05\u002F2028\u003C\u002Ftd>\u003Ctd>High Yield\u003C\u002Ftd>\u003Ctd>2,77%\u003C\u002Ftd>\u003Ctd>1.410.358,71\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>14 CRI\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Creditas\u003C\u002Ftd>\u003Ctd>Home Equity\u003C\u002Ftd>\u003Ctd>Pulverizado\u003C\u002Ftd>\u003Ctd>20J0837185 Sênior\u003C\u002Ftd>\u003Ctd>Vert\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>11,64%\u003C\u002Ftd>\u003Ctd>4,89\u003C\u002Ftd>\u003Ctd>15\u002F10\u002F2040\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>2,70%\u003C\u002Ftd>\u003Ctd>1.375.490,11\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>15 Ação\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Ação 2\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>2,49%\u003C\u002Ftd>\u003Ctd>1.272.500,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>16 Ação\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Ação 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>2,30%\u003C\u002Ftd>\u003Ctd>1.173.600,00\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 Provincia\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>10,20%\u003C\u002Ftd>\u003Ctd>1,96\u003C\u002Ftd>\u003Ctd>15\u002F01\u002F2031\u003C\u002Ftd>\u003Ctd>High Grade\u003C\u002Ftd>\u003Ctd>0,65%\u003C\u002Ftd>\u003Ctd>329.404,52\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>18 FII\u003C\u002Ftd>\u003Ctd>FlI1\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>0,62%\u003C\u002Ftd>\u003Ctd>318.000,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>19 FII\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>FII 2\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>167.980,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>20\u003C\u002Ftd>\u003Ctd>FlI\u003C\u002Ftd>\u003Ctd>FIlI 3\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>0,12%\u003C\u002Ftd>\u003Ctd>60.450,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Caixa\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>9,42%\u003C\u002Ftd>\u003Ctd>4.804.222,68\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch3>AlocaÁ„o 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 mÈdia\u003C\u002Fth>\u003Cth>Duration mÈdia\u003C\u002Fth>\u003Cth>Spread tesouro\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>63,47%\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>2,73%\u003C\u002Ftd>\u003Ctd>2,48\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>11,67%\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>10,05%\u003C\u002Ftd>\u003Ctd>4,62\u003C\u002Ftd>\u003Ctd>202 bps\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>FII\u003C\u002Ftd>\u003Ctd>10,64%\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>AÁ\"o\u003C\u002Ftd>\u003Ctd>4,80%\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Caixa\u003C\u002Ftd>\u003Ctd>9,42%\u003C\u002Ftd>\u003Ctd>%CDI\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch3>MOVIMENTA«’ES DO M S\u003C\u002Fh3>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>OperaÁ\"o\u003C\u002Fth>\u003Cth>Tipo\u003C\u002Fth>\u003Cth>Data\u003C\u002Fth>\u003Cth>Ativo\u003C\u002Fth>\u003Cth>Indexador\u003C\u002Fth>\u003Cth>Taxa\u003C\u002Fth>\u003Cth>Quantidade\u003C\u002Fth>\u003Cth>PU\u003C\u002Fth>\u003Cth>Financeiro\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Compra\u003C\u002Ftd>\u003Ctd>AÁ\"o\u003C\u002Ftd>\u003Ctd>22\u002F07\u002F2026\u003C\u002Ftd>\u003Ctd>AÁ\"o 2\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>R$ 113.500,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Compra\u003C\u002Ftd>\u003Ctd>AÁ\"o\u003C\u002Ftd>\u003Ctd>23\u002F07\u002F2026\u003C\u002Ftd>\u003Ctd>AÁ\"o 1\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>R$ 269.550,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Compra\u003C\u002Ftd>\u003Ctd>FII\u003C\u002Ftd>\u003Ctd>23\u002F07\u002F2026\u003C\u002Ftd>\u003Ctd>FII 2\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>R$ 46.537,49\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Compra\u003C\u002Ftd>\u003Ctd>AÁ\"o\u003C\u002Ftd>\u003Ctd>23\u002F07\u002F2026\u003C\u002Ftd>\u003Ctd>AÁ\"o 2\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>R$ 401.600,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Compra\u003C\u002Ftd>\u003Ctd>AÁ\"o\u003C\u002Ftd>\u003Ctd>29\u002F07\u002F2026\u003C\u002Ftd>\u003Ctd>AÁ\"o 1\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>R$ 132.750,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Compra\u003C\u002Ftd>\u003Ctd>FII\u003C\u002Ftd>\u003Ctd>29\u002F07\u002F2026\u003C\u002Ftd>\u003Ctd>FII 2\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>R$ 42.119,10\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Compra\u003C\u002Ftd>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>31\u002F07\u002F2026\u003C\u002Ftd>\u003Ctd>Embraed\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>6,99%\u003C\u002Ftd>\u003Ctd>1637\u003C\u002Ftd>\u003Ctd>501,482\u003C\u002Ftd>\u003Ctd>R$ 820.926,70\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Compra\u003C\u002Ftd>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>06\u002F08\u002F2026 a 19\u002F08\u002F2026*\u003C\u002Ftd>\u003Ctd>GARE Atacad\"o\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>9,28%\u003C\u002Ftd>\u003Ctd>573\u003C\u002Ftd>\u003Ctd>967,41\u003C\u002Ftd>\u003Ctd>R$ 554.324,72\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Compra\u003C\u002Ftd>\u003Ctd>AÁ\"o\u003C\u002Ftd>\u003Ctd>11\u002F08\u002F2026\u003C\u002Ftd>\u003Ctd>AÁ\"o 1\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>R$ 102.687,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Compra\u003C\u002Ftd>\u003Ctd>FII\u003C\u002Ftd>\u003Ctd>11\u002F08\u002F2026\u003C\u002Ftd>\u003Ctd>FII 1\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>R$ 19.302,60\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Compra\u003C\u002Ftd>\u003Ctd>AÁ\"o\u003C\u002Ftd>\u003Ctd>11\u002F08\u002F2026\u003C\u002Ftd>\u003Ctd>AÁ\"o 2\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>R$ 150.500,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Compra\u003C\u002Ftd>\u003Ctd>AÁ\"o\u003C\u002Ftd>\u003Ctd>17\u002F08\u002F2026\u003C\u002Ftd>\u003Ctd>AÁ\"o 1\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>R$ 127.468,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Compra\u003C\u002Ftd>\u003Ctd>FII\u003C\u002Ftd>\u003Ctd>18\u002F08\u002F2026\u003C\u002Ftd>\u003Ctd>FII 2\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>R$ 41.500,00\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>*Compras realizadas em 06, 07, 10, 11, 17 e 19 de agosto.\u003C\u002Fp>\u003Ch3>AlocaÁ„o do Fundo\u003C\u002Fh3>\u003Cp>POR INDEXADOR *\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7771\u002Fpage_11_chart_3.jpg\">\u003C\u002Fp>\u003Cp>POR INSTRUMENTO\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7771\u002Fpage_11_chart_5.jpg\">\u003C\u002Fp>\u003Cp>POR TIPO DE RISCO *\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7771\u002Fpage_11_chart_7.jpg\">\u003C\u002Fp>\u003Cp>POR RISCO *\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7771\u002Fpage_11_chart_9.jpg\">\u003C\u002Fp>\u003Cp>* Percentuais relativos aos CRI’s da carteira.\u003C\u002Fp>\u003Ch3>AlocaÁ„o do Fundo\u003C\u002Fh3>\u003Cp>POR SEGMENTO *\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7771\u002Fpage_12_chart_3.jpg\">\u003C\u002Fp>\u003Cp>POR SECURITIZADORA *\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7771\u002Fpage_12_chart_5.jpg\">\u003C\u002Fp>\u003Cp>POR S…RIE *\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7771\u002Fpage_12_chart_7.jpg\">\u003C\u002Fp>\u003Cp>* Percentuais relativos aos CRI’s da carteira.\u003C\u002Fp>\u003Ch3>Alto Desempenho, Alinhamento e SeguranÁa\u003C\u002Fh3>\u003Cp>\u003Cstrong>Fundada em 2006, a AF Invest È a maior gestora de recursos independente de Minas Gerais. Dedicada a investimentos em crÈdito privado e renda vari·vel no mercado de Wealth e Asset Management. Possui especializado e sÛlido time de an·lise e gest„o, com rÌgido compliance e controle de riscos.\u003C\u002Fstrong>\u003C\u002Fp>\u003Ch3>SÃO PAULO\u003C\u002Fh3>\u003Cp>\u003Cstrong>RUA TABAPUA 1123, CONJ 94\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>EDIFÕCIO SPAZIO DEL SOLE\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>ITAIM BIBI, SÃO PAULO, SP\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>04.533-014\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>TEL: + 55 (11) 3078-7314\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>FAX: + 55 (16)3620-8786\u003C\u002Fstrong>\u003C\u002Fp>\u003Ch3>BELO HORIZONTE\u003C\u002Fh3>\u003Cp>\u003Cstrong>RUA SERGIPE, 1440, 6º ANDAR\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>SAVASSI, BELO HORIZONTE, MG\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>30130-174\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>TEL: + 55 (31)2103-6000\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>FAX: + 55 (31)2103-6001\u003C\u002Fstrong>\u003C\u002Fp>","https:\u002F\u002Fwww.kartac.com.br\u002Fapi\u002Ffiis\u002FAFHF11\u002Fdocumentos\u002F7771\u002Fpdf",false,"https:\u002F\u002Ffnet.bmfbovespa.com.br\u002Ffnet\u002Fpublico\u002FdownloadDocumento?id=1303906","2026-07-31","2026-08-28 18:35:00",1,{"title":17,"description":18,"canonical":19,"image":20,"json_ld":21,"nome":46,"resumo":88},"Relatório Gerencial AFHF11 de julho de 2026 | Kartac","Relatório Gerencial de julho de 2026 do AFHF11, entrega em 28\u002F08\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\u002F7771","https:\u002F\u002Fwww.kartac.com.br\u002Fimages\u002Fog.png",{"@context":22,"@graph":23},"https:\u002F\u002Fschema.org",[24,30,35,44,59,74],{"@type":25,"@id":26,"name":27,"url":28,"logo":29},"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":31,"@id":32,"name":27,"url":28,"inLanguage":33,"publisher":34},"WebSite","https:\u002F\u002Fwww.kartac.com.br\u002F#site","pt-BR",{"@id":26},{"@type":36,"@id":37,"url":19,"name":17,"description":18,"inLanguage":33,"isPartOf":38,"dateModified":39,"mainEntity":40,"breadcrumb":42},"WebPage","https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FAFHF11\u002Fdocumentos\u002F7771#pagina",{"@id":32},"2026-10-31",{"@id":41},"https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FAFHF11\u002Fdocumentos\u002F7771#documento",{"@id":43},"https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FAFHF11\u002Fdocumentos\u002F7771#migalhas",{"@type":45,"@id":41,"name":46,"alternateName":5,"url":19,"inLanguage":33,"about":47,"genre":7,"datePublished":49,"temporalCoverage":50,"author":51,"publisher":57,"isBasedOn":12},"Report","Relatório Gerencial AFHF11 de julho de 2026",{"@id":48},"https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FAFHF11#fundo","2026-08-28","2026-07",{"@type":25,"name":52,"identifier":53},"AF INVEST REAL ESTATE ADMINISTRACAO DE RECURSOS LT",{"@type":54,"propertyID":55,"value":56},"PropertyValue","CNPJ","43.946.902\u002F0001-28",{"@type":25,"name":58},".BANCO DAYCOVAL S\u002FA",{"@type":60,"@id":48,"name":61,"alternateName":62,"url":65,"category":66,"identifier":67,"provider":72},"InvestmentFund","AF Invest Real Estate Multiestratégia",[63,64],"AFHF11","AF INVEST REAL ESTATE MULTIESTRATÉGIA FUNDO DE INVESTIMENTO IMOBILIÁRIO - RESPONSABILIDADE LIMITADA","https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FAFHF11","Papel",[68,70],{"@type":54,"propertyID":69,"value":63},"Ticker B3",{"@type":54,"propertyID":55,"value":71},"60.077.386\u002F0001-61",{"@type":25,"name":52,"identifier":73},{"@type":54,"propertyID":55,"value":56},{"@type":75,"@id":43,"itemListElement":76},"BreadcrumbList",[77,80,84,86],{"@type":78,"position":15,"name":79,"item":28},"ListItem","Início",{"@type":78,"position":81,"name":82,"item":83},2,"FIIs","https:\u002F\u002Fwww.kartac.com.br\u002Franking",{"@type":78,"position":85,"name":63,"item":65},3,{"@type":78,"position":87,"name":5,"item":19},4,{"atualizado_em":89,"frases":90},"2026-11-05",[91,92,93,94,95],"Relatório Gerencial do AF Invest Real Estate Multiestratégia (AFHF11), fundo imobiliário de papel, referente a julho de 2026, com entrega no FundosNet (B3) em 28\u002F08\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.",{"id":97,"empresa":98,"gestor":102,"cotacoes":108,"patrimonio":214,"vpa":215,"p_vpa":216,"tipo_gestao":217,"mandato":218,"segmento":219,"categoria":66,"grupo":66,"preco_atual":208,"cotacao_atualizada_em":220,"ultima_variacao_cotacao_24h":221,"variacao_cotacao_7d":222,"variacao_cotacao_1m":223,"variacao_cotacao_3m":224,"variacao_cotacao_6m":225,"variacao_cotacao_12m":226,"vacancia_fisica":218,"liquidez_atual":227,"ultimo_dividendo":228,"ultimo_dividend_yield":229,"mes_pagamento_ultimo_dividendo":230,"dividend_yield_3m":231,"dividend_yield_6m":232,"dividend_yield_12m":233,"dividend_yield_medio_12m":234,"qtd_dividendos_pagos_ano_passado":235,"data_ultima_cotacao":212,"pregoes_com_negocio_21":236,"alertas":237,"updated_at":238,"liquidez_media_reais":239,"administrador":58,"taxa_administracao_paga":218,"balanco":240,"resultado_distribuido":247,"publico_alvo":252,"mercados_negociacao_cotas":253,"data_funcionamento":256,"data_final":218,"quantidade_cotas":257,"quantidade_cotistas":258,"detalhes_cotistas":259,"total_investido":262,"investimentos_fundo":263,"imoveis":267,"contratos":218,"custodiante":269,"auditor_independente":276,"formador_mercado":218,"distribuidor_cotas":283,"consultor_especializado":218,"administrador_locacoes":218,"relatorio_anual":284,"analise_administrador":287},354,{"nome":64,"nome_simplificado":99,"nome_comercial":61,"ticker":63,"nome_ticker":100,"nome_pregao":101,"cnpj":71},"AF INVEST REAL ESTATE MULTIESTRATÉGIA   RESPONSABILIDADE LIMITADA","AFHF11 - AF INVEST REAL ESTATE MULTIESTRATÉGIA FUNDO DE INVESTIMENTO IMOBILIÁRIO - RESPONSABILIDADE LIMITADA","FII AFHF",{"id":103,"nome":52,"cnpj":104,"endereco":105,"telefone":106,"created_at":107,"updated_at":107},33,"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",[109,115,121,126,132,137,141,146,152,157,163,167,172,177,183,187,193,199,204,210],{"id":110,"data":111,"abertura":112,"ultimo":113,"volume":114},3288846,"2026-10-06",10.29,10.3,9111,{"id":116,"data":117,"abertura":118,"ultimo":119,"volume":120},3289346,"2026-10-07",10.32,10.49,4105,{"id":122,"data":123,"abertura":124,"ultimo":113,"volume":125},3290500,"2026-10-08",10.5,17053,{"id":127,"data":128,"abertura":129,"ultimo":130,"volume":131},3291056,"2026-10-09",10.36,10.35,3778,{"id":133,"data":134,"abertura":135,"ultimo":135,"volume":136},3357266,"2026-10-13",10.37,7165,{"id":138,"data":139,"abertura":135,"ultimo":118,"volume":140},3375589,"2026-10-14",2230,{"id":142,"data":143,"abertura":118,"ultimo":144,"volume":145},3376216,"2026-10-15",10.43,8753,{"id":147,"data":148,"abertura":149,"ultimo":150,"volume":151},3377092,"2026-10-16",10.39,10.34,4417,{"id":153,"data":154,"abertura":155,"ultimo":113,"volume":156},3444821,"2026-10-19",10.45,2870,{"id":158,"data":159,"abertura":160,"ultimo":161,"volume":162},3446557,"2026-10-20",10.41,10.4,533,{"id":164,"data":165,"abertura":135,"ultimo":155,"volume":166},3459704,"2026-10-21",1459,{"id":168,"data":169,"abertura":170,"ultimo":155,"volume":171},3473739,"2026-10-22",10.48,1876,{"id":173,"data":174,"abertura":144,"ultimo":175,"volume":176},3488136,"2026-10-23",10.57,9834,{"id":178,"data":179,"abertura":180,"ultimo":181,"volume":182},3566028,"2026-10-26",10.05,10.18,14549,{"id":184,"data":185,"abertura":181,"ultimo":180,"volume":186},3580280,"2026-10-27",13065,{"id":188,"data":189,"abertura":190,"ultimo":191,"volume":192},3594259,"2026-10-28",10.16,10.21,12049,{"id":194,"data":195,"abertura":196,"ultimo":197,"volume":198},3609102,"2026-10-29",10.27,10.09,2713,{"id":200,"data":201,"abertura":197,"ultimo":202,"volume":203},3624635,"2026-10-30",10.1,4084,{"id":205,"data":206,"abertura":207,"ultimo":208,"volume":209},3682038,"2026-11-03",10.06,10,15736,{"id":211,"data":212,"abertura":208,"ultimo":208,"volume":213},3695550,"2026-11-04",7186,51010238.59,10.2,"0.98","Ativa",null,"Outros","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,{"data_referencia":241,"ativo":242,"passivo":243,"obrigacoes_imoveis":244,"obrigacoes_securitizacao":244,"liquidez":245,"valores_receber":246},"2026-09-01",51209211.24,198972.65,0,6478033.9,12203.52,{"data_referencia":248,"resultado":249,"rendimentos":250,"percentual":251},"2026-06-30",4393124.84,4199999.998,0.9560393002626348,"Investidores em Geral",[254,255],"Bolsa","MBO","2025-07-01",5000000,1890,{"Pessoa Física":260,"Outros tipos de cotistas não relacionados":261,"Investidores não residentes":15},1205,684,44718973.82,{"CRI \u002F CRA":264,"Cotas de FIIs":265,"Ações":266},37837934.32,5112814.5,1768225,{"vacancia_total":244,"lista_imoveis":268,"data_referencia":248,"vacancia_suspeita":11},[],{"id":270,"nome":271,"cnpj":272,"endereco":273,"telefone":274,"created_at":275,"updated_at":275},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":277,"nome":278,"cnpj":279,"endereco":280,"telefone":281,"created_at":282,"updated_at":282},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":270,"nome":271,"cnpj":272,"endereco":273,"telefone":274,"created_at":275,"updated_at":275},{"ano_referencia":285,"data_disponibilizacao":286},"2026","2026-09-29",{"ResultadoFundo":288,"ConjunturaEconomica":289,"PerspectivaPeriodoSeguinte":290},"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."]