CRA MARFRIG Vale a pena? CRA é um bom investimento? Recomendação do assessor de investimentos.

Summary

In this video, investment expert Guilherme Lopes explains the key features of the CRA (Agribusiness Receivables Certificate) from Marfrig, a fixed-income investment tied to agribusiness. He outlines its benefits, such as tax exemptions and potentially attractive returns, but also warns of the risks, including lack of FGC protection and market fluctuations. Lopes compares CRA to other fixed-income products like CDBs and emphasizes the importance of timing and understanding market conditions. He also sheds light on the incentives behind investment advisors' recommendations, urging viewers to ensure their advisor aligns with their financial goals. Ultimately, Lopes provides crucial insights into whether investing in CRA is worth it for different profiles.

Takeaways

• 😀 The CRA (Certificado de Recebíveis do Agronegócio) is a fixed-income investment where you lend money to companies in the agribusiness sector, with interest rates linked to inflation (IPCA) or fixed rates.
• 😀 CRAs are exempt from income tax, unlike other fixed-income investments such as CDBs, which are subject to taxation.
• 😀 Unlike CDBs, CRAs don't have the protection of the FGC (Fundo Garantidor de Crédito). If the company issuing the CRA fails, you could lose your investment.
• 😀 CRAs are generally long-term investments, with durations ranging from 5 to 20 years, and are not suitable for those seeking short-term gains.
• 😀 Selling CRAs before maturity is risky as they can experience significant price fluctuations, which may result in a loss if sold prematurely.
• 😀 Investors should understand their risk tolerance, especially if considering CRAs with long durations, as the market and company performance can change dramatically over time.
• 😀 When assessing CRA investments, the key considerations are interest rates, inflation linkage, and the company issuing the CRA. The best investment strategy requires careful market timing.
• 😀 Advisors often recommend CRAs due to the high commissions they receive for selling these long-term investment products. These commissions can range from 1% to 3% of the investment amount.
• 😀 The market conditions play a crucial role in deciding whether to invest in CRAs. Rates on CRAs may seem attractive at one moment but can become less competitive as market conditions change.
• 😀 For the best investment outcome, it is crucial to align your investments with your financial profile and be cautious of advisors who may prioritize high-commission products over your best interests.

Q & A

What is a CRA (Certificado de Recebíveis do Agronegócio)?

A CRA is a fixed-income investment where you lend money to a company in the agribusiness sector, and in return, you receive periodic interest payments and the return of the principal at maturity. It’s a debt instrument backed by agribusiness receivables.

How does a CRA compare to other fixed-income investments like CDBs?

Unlike CDBs, CRAs are exempt from income tax. However, they come with a higher risk, as they don’t have FGC (credit protection from the government) and are often long-term investments. CDBs are typically shorter-term and offer more security, especially with FGC coverage.

What are the risks associated with selling a CRA before maturity?

Selling a CRA before maturity is risky because its value can fluctuate significantly due to market conditions. You could end up losing money if you sell at a time when the CRA is valued lower than your initial investment.

Are there any tax advantages to investing in a CRA?

Yes, CRAs are exempt from income tax, which can make them attractive compared to other fixed-income investments like CDBs, which are taxed based on your income tax bracket.

What is the typical investment horizon for CRAs?

CRAs typically have long-term investment horizons, ranging from 5 to 20 years, which may not be suitable for investors who prefer shorter-term investments.

What happens if the company issuing the CRA, such as Marfrig, defaults?

If the company issuing the CRA defaults, investors could lose 100% of their capital because CRAs are not covered by the FGC (Credit Guarantee Fund) like bank-issued CDBs.

Why do investment advisors recommend CRAs, despite their risks?

Investment advisors may recommend CRAs because they receive higher commissions from these types of investments (1-3% of the invested amount). This creates a potential conflict of interest as the advisor’s incentives may not always align with the client’s best interests.

How can investors protect themselves from conflicts of interest with their advisors?

Investors should ask their advisors about the commissions they receive from recommending specific products and assess whether the recommendation aligns with their investment goals and risk profile. It’s important to work with an advisor who prioritizes your financial success over commissions.

What is the advantage of investing in a CRA with a shorter investment term?

Investing in a CRA with a shorter term, such as the 5-year series, might offer a competitive return (e.g., 101.5% of CDI), but it still carries the risk of future market fluctuations. Shorter terms generally offer more predictability and allow investors to adjust their strategy as market conditions change.

Why is it important to understand the timing of investments, especially with CRAs?

Timing is crucial because market conditions can change, affecting the attractiveness of certain investments. For example, at times of falling interest rates, other fixed-income investments like CDBs may offer higher returns compared to CRAs. Thus, strategic timing helps in maximizing returns and minimizing risks.