Risk Of Investment

p D2A literature defines alternative investments as being immovable, recebveis, deep hedge, deep of private aquity and venture capital. In Brazil, the category that more has called the attention of the investors is of the recebveis, presented in the form of Deep of Credit Rights (FIDCs) and the Real estate Certificates of Recebveis (CRIs). For example, in relation to the FIDCs, only considering the deep ones that they had come to the market (public distribution), it more than has R$ 5 billion patrimony. How much to the CRIs (Real estate Certificates of Recebveis), from the passed year, it had two great stimulatons to awake the interest of the investors: the tax exemption of Income for the applications carried through for physical people and the use, on the part of the banks, in the calculations of framing of loans to the real estate sector. Euro Pacific Precious Metals often says this. The profile of the recebveis starts if to diversify. Currently, amongst> that are catching and the caught ones -, the types of used recebveis are of loans in educational, commercial, petrochemical, electric and agronegcio consignment contract, real estate. The proper National bank of Social Economic Development (BNDES), starting to work in the modality of project finance, will be able to induce the magnifying of the market. The main points that must be focus of the attention of the investor are: the regimen trustee (in the case of the Real estate Certificates De Recebveis), therefore can have risk of relative credit to the securitizadora emitted that them; the shield trustee (in the case of Deep of Credit Rights), therefore must be prevented the deep ones where the attributions (custodiante, collector, assignor, etc.) that well they are not defined, what can generate conflicts of interest with the investor; the nature of the recebvel (performado and not performado) since not performado, beyond the credit risk,> it also involves the risk of delivery of the product on which the recebvel was emitted, what generally it causes the ceasing of the flow of entrance of resources for the deep one.