8 MELHORES GESTORAS DE FIIS DE 2024

Summary

In this video, the presenter discusses the top eight real estate fund managers for 2024, highlighting their strengths and why they stand out in the market. The script also covers several fund managers who have fallen out of favor due to issues like conflicts of interest, lack of transparency, and poor investor returns. The video provides an in-depth look at each manager's strategies, performance, and potential, including well-established names like CSHG and Kinia, as well as rising stars like Real Investor Asset Management and Telos. The video invites viewers to share their opinions on the rankings and join the conversation.

Takeaways

• 😀 The real estate investment fund (FII) market has been changing, with some previously top-rated fund managers no longer making the cut due to conflicts of interest and misalignment with investors.
• 😀 Capitânia, VBI, RBR, Sunno, and HSI have been excluded from the list of top fund managers due to poor practices, such as issuing funds below their book value and other actions damaging to investor returns.
• 😀 Itaú Asset and Canuma Capital, while not yet on the list, show significant potential due to their experienced teams and strong growth in the real estate fund sector.
• 😀 The top 2024 fund managers, according to the speaker, are CSHG (Credit Suisse Hedging Grifo), Cineia, F Invest Real Estate, Alianza, Red Investments, Real Investor Asset Management, Telos, and TRX.
• 😀 CSHG is regarded as the best fund manager, with the acquisition by Pátria expected to maintain its quality, thanks to the experienced team staying in place.
• 😀 Cineia, in operation for 16 years, is one of the top fund managers, with over 180 professionals and significant assets under management, demonstrating excellent alignment with investors.
• 😀 F Invest Real Estate, a subsidiary of AF Invest, stands out as a highly capable regional manager with impressive returns and a strong focus on aligning with investors' interests.
• 😀 Alianza, founded in 2011, is recognized for its excellent management of assets and investor relationships, with a portfolio that includes well-regarded funds like ALZR11.
• 😀 Red Investments, known for managing HGBS11, is praised for its long history and strategic moves in the FII market despite some controversies over conflicts of interest in certain funds.
• 😀 Real Investor Asset Management is highly regarded for its strong alignment with investors, transparent practices, and effective management of funds, especially in the Rin and FH11 funds.

Q & A

What is the primary focus of the video discussed in the transcript?

The video focuses on analyzing and ranking the best real estate fund managers in Brazil in 2024, based on their recent performance, transparency, and alignment with investors.

Why were certain fund managers removed from the list of the best in the script?

Some fund managers were removed due to poor performance, conflicts of interest, and actions like issuing new shares below the funds' net asset value, which harmed investor returns.

What is the reason for Capitânia's removal from the list?

Capitânia was removed due to movements that caused conflicts of interest, such as issuing new shares below the net asset value and making decisions that negatively impacted the returns of their real estate funds.

What issue did VBI face that led to its removal from the top list?

VBI was removed because it lacked proper alignment with its investors, engaged in actions that caused conflicts of interest, and appeared to prioritize the growth of the management company over providing returns to its investors.

What mistake did RBR make that caused it to fall off the list?

RBR was removed due to issuing shares below the net asset value in certain funds, like RB Y and RBR X, which led to losses for investors.

Which two emerging fund managers are considered promising but not yet on the list?

The two emerging fund managers that are considered promising but not yet on the list are Itaú Asset Management and Canuma Capital.

What potential does Itaú Asset Management have according to the video?

Itaú Asset Management, although new to real estate funds, has significant potential due to its size, experience in investment management, and the credibility of being part of Itaú Unibanco.

Why is Canuma Capital considered a promising fund manager?

Canuma Capital is considered promising because of its experienced team, despite being new, and its solid background in managing billions in assets, showing a strong potential for future growth.

What is the top-rated fund manager according to the video?

The top-rated fund manager is CSHG (Credit Suisse Hedging-Griffo), which is currently in the process of being transferred to Pátria. The quality of the management team is expected to remain high after the transfer.

What sets Cineia apart from other fund managers in the ranking?

Cineia stands out due to its 16-year history, large assets under management, extensive experience, and solid alignment with investors, showing a commitment to long-term success.

What is the issue with Red Investments' funds, especially HFOF?

Red Investments faced criticism for conflicts of interest, particularly in the HFOF fund, where a large portion of its assets were tied up in the company's own funds, leading to issues with liquidity and poor returns in 2023.

What is the significance of transparency and alignment with investors mentioned in the video?

Transparency and alignment with investors are key criteria for evaluating fund managers. Managers who are open with their investors and share their goals tend to build trust and provide better long-term returns.

What is the importance of 'skin in the game' as mentioned with Real Investor Asset Management?

'Skin in the game' refers to the practice of fund managers personally investing in the funds they manage. This creates a stronger alignment between the managers' interests and those of the investors.