The objective of the Class is to provide its participants with real appreciation of their shares over the medium and long term by investing in a diversified portfolio of securities, with the principal risk factor being the price fluctuations of shares admitted to trading on the spot market of a stock exchange or an organized over-the-counter market entity, in compliance with applicable legal and regulatory limitations.<\/p>\n<\/div>
The Fund\u2019s investment philosophy for equity management is based solely on fundamental analysis, aiming\u2014through active engagement with the companies\u2014to achieve consistent medium- and long-term returns with low volatility and reduced concern for immediate liquidity.<\/p>\n<\/div>
The Fund is intended exclusively for qualified investors, as defined under the current regulations of the Brazilian Securities and Exchange Commission (\u201cCVM\u201d), and which are constituted as investment funds or other investment vehicles administered and\/or managed by the Administrator or by companies affiliated with it.<\/p>\n<\/div>
The Manager\u2019s risk assessment and management process permeates the entire investment decision\u2010making process. An asset\u2019s risk is not determined numerically from a precise definition of variance of returns around the mean, but is incorporated as a variable throughout the fundamental analysis process. With regard to portfolio risk measurement, the approach practiced is primarily bottom-up, emphasizing the specific risk analysis of each asset. Additionally, the Manager considers underlying sector diversification issues and their implications for portfolio concentration.<\/p>\n
Notwithstanding the risk-assessment process applied by the Manager in constructing the Class\u2019s portfolio, we highlight below the principal risk factors of the Class:<\/p>\n
For a comprehensive assessment, we recommend reading the fund\u2019s Bylaw, where detailed information on all risk factors is available.<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><\/div>