MORC11

Management

The Fund seeks an investment profile between mid-yield and high-yield, with operations with robust real guarantees in projects, preferably in urban areas and with single properties. We do not exclude investment in subdivisions and multi-properties, but we will only enter into operations of this type with a large guarantee margin.

For purposes of the fund, today we consider Mid-Yield operations with a spread of at least 2% over the risk-free rate – that is, rates of IPCA+7% or CDI+2% today. Therefore, by mandate, we will not enter any operation whose return is below this minimum spread.

Regarding the index, the fund is very flexible. Today, part of the portfolio is indexed to the IPCA and part to the CDI; still, nothing prevents this balance from changing or entering operations with other indexes, depending on our medium-term view of the market.

Risk Factor
The Investment Funds are, by their nature, subject to typical market fluctuations, credit risk, systemic risk, adverse liquidity conditions and atypical trading in the markets where they operate. Moreover, if the Administrator and the Manager maintain management routines and procedures for risks, there is no guarantee of the complete elimination of the possibility of losses for the Fund and for the Shareholders.