At a time of still risk -averse investor, agribusiness -related asset managers bet on strategies capable of reducing the volatility of the industry, which has a net equity of $ 40 billion, accelerating again.
For Paulo Fleury, manager of EB Capital, one of the ways of mitigating the fright of agribusiness volatility for investors is the formation of new structured products.
With the senior and subordinate division, leaving the managers themselves at the highest risk quotas, the investor will have knowledge and safety about the type of risk he is taking.
Continues after advertising
“Obviously, the subordinate has a much higher return expectation than senior, but it is the first loss. If you think of a product, for example, with 20% subordination, there is a very large fat until there is an effective loss for the senior investor,” said the manager during XP Agro Forum, event held on Tuesday in Sao Paulo.
From the door inside, attention to the formalization of guarantees (whether land or receivable) and attention to the type of borrower is also a key point to ensure more security to investors.
For Paulo Mesquita, Riza’s Fiagro Manager, the moment is to seek operations with smaller spreads, adapted to the risk of each producer.
Continues after advertising
“I would not lend my money today to someone who today wants to take CDI+10%. This guy will not pay. There are other ways to reach attractive profitability in the back, for example, taking advantage of the pre -interest curve,” said Mesquita.
The consensus among managers is that governance and reliability are priorities for strokes to advance – and have an increasingly clear image in the minds of investors.
“Four years ago, I had ten seconds to introduce to the investor what was a Fiagro. Today this has changed, the businessman already understood that it is a new way to take credit. We are helping to demystify all this part of the capital market, from CRA to the back,” exemplified Gustavo Gomes, XP Fiagro manager.
Continues after advertising
Content produced by.
