July 1, 2022

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FGTS in Eletrobras: Funds cut management fees to attract investors

FGTS in Eletrobras: Funds cut management fees to attract investors

Workers who wish to use part of the resources of the FGTS (Fundo de Garantia do Tempo de Serviço) to participate in the Eletrobras Participation Offer – which will result in the privatization of the company, now controlled by the federal government – must choose from which the Fund for Mutual Participation (FMP) will He is investing.

The good news: Banks and brokerages that have launched loan management schemes are cutting management fees charged to investors — some more than once.

Turn your FGTS into an investment: Use up to 50% of FGTS to invest in Eletrobras, the largest energy company in Latin America.

The survey was conducted by Infomoney With the Securities and Exchange Commission (CVM) and financial institutions reporting that, on Monday (31), prices varied between 0.20% per year and 1.50% per year. In three financial institutions, costs were 1% or more: Daycoval (1.50% per year), Zero (1.20% per year), Proof (1% per year).

Since then, the scenario has changed. On Friday (3), funds were found so that it is zero rate. The highest level at the moment is the FMP of MAM Asset Management, the regulation of which indicates a cost of 0.80% per annum.

From the list of 23 FMP accompanied by Infomoney During that week, 14 has rates of 0.20% per year or less.

Privatization funds are called “monoation”, which means that they invest in the shares of one company. Regulations for portfolios already registered with CVM indicate that they must invest at least 90% of their equity in Eletrobras securities. The remaining 10% can be allocated to fixed income securities.

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Since it is a “one off business,” experts suggest that management fees charged by financial institutions are one of the key elements to evaluate when choosing. “The difference in profitability between them will be a result of the management fees. The management makes no difference, only the costs,” says Leticia Camargo, a financial planner.

Check below the list of 23 funds available for FGTS investing in Eletrobras shares, with their respective CNPJs, responsible directors and management fees:

background CNPJ Management Administrative fees
Alfa II – Fund for Mutual Privatization – FGTS Eletrobras – Migration 40156889/0001-15 Alpha Investment Bank 0.45% per year
BB Joint Allocation Fund – FGTS Eletrobras 45,081,538 / 0001-06 BB DTVM 0.20% per year
BB – FGTS Eletrobras – Migration Privatization Investment Fund 45,081,560 / 0001-56 BB DTVM 0.20% per year
BNB Mutual Privatization Fund – FGTS Eletrobras 42847915 / 0001-87 BNB 0.45% per year
Bradesco Mutual Privatization Fund – FGTS Eletrobras 44,360,670 / 0001-94 Bradesco Asset Management 0.40% per year
Bradesco Migração Mutual Privatization Fund – FGTS Eletrobras 44,544,074 / 0001-64 Bradesco Asset Management 0.40% per year
BTG Pactual Reference FGTS Eletrobras Mutual Privatization Fund 45,560,774 / 0001-05 BTG Pactual Asset Management 0.20% per year
Joint Fund for Privatization – FGTS for Migration Eletrobras 45,443,366 / 0001-73 DTVM box 0.45% per year
Joint Fund for Privatization – FGTS Eletrobras 45.160.183/0001-40 DTVM box 0.45% per year
Daycoval Mutual Fund for Privatization of FGTS Eletrobras (FMP-FGTS) 45.121.022 / 0001-48 Daycoval Asset Management zero
Large Allocation Joint Fund – FGTS Eletrobras 45,598,817/0001-41 Diversity Investments 0.20% per year
Gene Migration Mutual Privatization Fund FGTS Eletrobras 45938153 / 0001-12 Diversity Investments 0.20% per year
FGTS Eletrobras Privatization Joint Fund Directive (FMP-FGTS) 45120936 / 0001-94 Resource Management Manual 0.40% per year
Itaú Exchange Privatization Fund – FGTS Eletrobras 42,520,416/0001-80 Asset Management Itaú Unibanco 0.20% per year
Itaú Migração Exchange Privatization Fund – FGTS Eletrobras 42,582,153 / 0001-34 Asset Management Itaú Unibanco 0.20% per year
Privatization Investment Fund MAM – FGTS Eletrobrás 43,926,530 / 0001-78 MAM . Asset Management 0.80% per year
Zero Fund for Mutual Privatization – FGTS Eletrobras 44,934,934 / 0001-76 Safara Asset Management 0.15% per year
Privatization Mutual Harvest Fund – FGTS – Eletrobras – Migration 44,934,897/0001-04 Safara Asset Management 0.15% per year
Santander Fund for Mutual Privatization – FGTS – Eletrobras – Migration 45322.586 / 0001-49 Santander Brazil Resource Management 0.20% per year
Santander Cross Allocation Fund – FGTS Eletrobras 45,322,541 / 0001-74 Santander Brazil Resource Management 0.20% per year
Warren Mutual Assignment Fund – FGTS Eletrobras 46,470,113 / 0001-51 Warren Brazil 0.50% per year
XP Mutual Privatization Fund – FGTS (Migration) Eletrobrás 45,088,755/0001-28 XP Customize Asset Management 0.20% per year
XP Mutual Privatization Fund – FGTS Eletrobrás 45,088,790 / 0001-47 XP Customize Asset Management 0.20% per year
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Source: CVM and financial institutions

Eletrobras display schedule

The reserve period for Eletrobras shares began on Friday (3). Individual investors interested in participating in the company’s privatization process will be able to submit their applications until next Wednesday (8).

The term is valid for both investors who wish to acquire shares of Eletrobras, directly or indirectly, using part of the FGTS. The bid should move about R$30 billion, in total, and the price is due next Thursday (9).

If the investor chooses to buy the shares directly, he will need to allocate a minimum of R$1,000 and a maximum of R$1 million.

Whoever uses a part of the FGTS to invest in Eletrobras shares will have to invest at least R$200 and will need to respect the maximum investment amounting to 50% of the available balance in each linked FGTS account.

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According to the prospectus, an investment of at least R$ 5,000 is guaranteed to each retail investor, which can be increased according to demand.

However, there is a cap on the allocation value for initial production plans, which has been set at R$6 billion. If this amount is exceeded, a proportional division will be made between booking requests. In this case, the excess deposited amounts will be returned without compensation, interest or monetary correction, with any taxes deducted.

For investors who choose to transfer funds they have from other small production plans – such as those of Petrobras and Vale – to FMPs that will be created by Eletrobras, the deadline ends earlier. Applications can be submitted between Friday (3) and the following Monday (6).

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Turn your FGTS into an investment: Use up to 50% of FGTS to invest in Eletrobras, the largest energy company in Latin America.