MXRF11: Entenda a decisão da CVM sobre os dividendos do fundo

Saiba o efeito da decisão da CVM em relação ao MXRF11, que poderá distribuir rendimentos este mês.

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O Maxi Renda (MXRF11) é um dos fundos mais relevantes do mercado financeiro nacional.

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O Maxi Renda foi criado em 2013 como um fundo híbrido, isto é, para prover ganhos através de investimentos no setor imobiliário.

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O Maxi Renda é administrado pelo BTG Pactual Serviços Financeiros e gerido pela XP Asset Management Vista.

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O MXRF11 tem foco em ativos imobiliários, como debêntures, Letras de Crédito Imobiliário (LCI), Certificados de Recebíveis Mobiliários (CRM), cotas de FIIs e Letras Hipotecárias (LH).

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Ao analisar as demonstrações financeiras do MXRF11, a CVM verificou que o Fundo estava distribuindo dividendos acima do lucro contábil.

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A administração do MXRF11 estava distribuindo segundo o regime caixa, como grande parte dos fundos imobiliários da indústria.

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Mas, no entender dos técnicos da CVM, o pagamento do excesso de lucro caixa pelo FII estava aumentando o prejuízo contábil do Fundo.

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Desde 2014 a maior parte dos FIIs distribuem seus rendimentos segundo o lucro caixa. E a decisão “nova”, sobre o MXRF11, mudaria tudo.

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A comissão disse que a decisão sobre o MXRF11 pode se aplicar a outros FIIs, o que preocupou os investidores.

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A pedido dos administradores do fundo,o BTG Pactual (BPAC11), a CVM suspendeu o efeito da decisão sobre o MXRF11.

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A CVM disse que a decisão voltará a valer caso não haja pedido de reconsideração sobre o MXRF11.

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Para o analista da Suno, Marcos Baroni, a CVM está correta em fiscalizar o MXRF11. Em 2019, o fundo lucrou R$85 milhões e distribuiu R$109 milhões.

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Porém, o analista acredita que a CVM deve oferecer mais detalhamento sobre a decisão que atinge o MXRF11.

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Para Baroni, a decisão da CVM deve impactar outros fundos, sendo que os administradores devem fazer ajustes para se enquadrarem.

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Para acompanhar todos os detalhes sobre o caso do MXRF11 x CVM, confira o vídeo do professor Baroni no seu canal do YouTube.

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Quer aprender a analisar FIIs e descobrir ativos com preços descontados? Aproveite e baixe agora o nosso

[{"selector":"#anim-29bd47dd-b353-4ccd-9f8a-6f0c0f45111a","keyframes":{"opacity":[0,1]},"delay":300,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ce766744-834b-49d2-86d5-d5eb816885de","keyframes":{"transform":["translate3d(115.70512%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":300,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-28fde867-9f88-4ab3-a7d7-ea1c92d17d12 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Clique aqui

Saiba o efeito da decisão da CVM em relação ao MXRF11, que poderá distribuir rendimentos este mês.