SÃO PAULO – B3 launched on Monday (22) the second index of real estate funds in the market, the “Ifix L”, which aims to measure the performance of the 51 most liquid FIIs traded on the Brazilian stock exchange.
Ifix L will be a sub-index of Ifix, the main benchmark in the market. To enter the new index, the real estate fund must belong to Ifix, whose theoretical portfolio currently has 87 names. Assets classified as “penny stock“, Which are those with a value of less than R $ 1 in one year.
The funds of the new index will have their shares weighted in the portfolio by their total market value (total number of shares issued multiplied by their last market price).
To compose the Ifix L portfolio, the fund must be classified among the eligible assets that, in the period of validity of the three previous portfolios, in decreasing order of
Negotiability (IN), together represent 85% of the total sum of these indicators.
If the asset makes its IPO during the term of the three portfolios prior to the rebalancing, it will be eligible for the index, provided that the offer was made before the previous rebalancing, and that the fund has 95% presence in the negotiations since the beginning Exchange and meets the criteria listed above.
In addition, according to B3, a fund’s participation in the index cannot exceed 20%. If this occurs, adjustments will be made to adjust the weight of the fund to this limit, redistributing the excess proportionally to the other assets in the portfolio.
“In the last two years, the FIIs market has grown, approximately, 123%, becoming the main product sought by individuals after the shares. With this, B3, in partnership with the market, started to look much more closely at this product and how we could develop it further. The creation of IFIX L is the first step in a strategy focused on real estate funds that B3 has for 2021 ”, said Mário Palhares, director of Listed Products at B3, in a press release.
Currently, B3 has more than 300 FIIs listed, an increase of 64% over December 2018. In addition, the number of investors increased by approximately 600%, from 200 thousand to more than 1.2 million. investors in the period.
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