FREQUENTLY ASKED QUESTIONS
Get answers to questions and learn more about what we do and how we do it.
No. To invest in our funds, you just need to open an account with one of the distributors that offer our funds on their investment platforms. To see our list of distributors, click here.
To learn more about our funds, click here.
The funds’ holdings can be accessed through CVM’s public consultation system, with a 180-day delay. For commercial and regulatory reasons, we do not disclose the current portfolios of the funds.
The Alaska Black FIC FIA is intended for qualified investors*, has a minimum investment of R$ 5,000.00, and its benchmark is IPCA + 6% per year. The Alaska Black FIC FIA II is available to the general public, has a minimum investment of R$ 1,000.00, its benchmark is the IBOVESPA, and it has an allocation limit of R$ 250,000 per CPF (individual taxpayer ID).
The portfolio compositions and investment strategies of both funds are identical, since they are two FIC structures that invest in the Alaska Black Master FIA.
The performance difference between the funds is explained by the calculation of returns against their different benchmarks.
(*) Qualified investors are defined as: (i) individuals and legal entities with financial investments equal to or greater than R$ 1 million; and (ii) individuals who have passed technical qualification exams or hold certifications approved by the CVM as requirements for registration as investment advisors, portfolio managers, analysts, or securities consultants, with respect to their own resources.
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The funds in the Alaska Black FIC FIA family have portfolios that may include equities, BDRs, interest rate instruments, U.S. dollar exposure, indices, and derivatives in general, provided they comply with the fund’s bylaws and applicable regulations. The Alaska Institucional FIA, on the other hand, is a traditional long only equity fund, meaning it must allocate at least 67% of its portfolio to equities and does not operate in the interest rate, U.S. dollar, or BDR markets. As a result, the funds may show very different returns over longer periods.
The Alaska Black FIC FIA and Alaska Black FIC FIA II funds have a more flexible mandate, as they may use leverage in derivatives, interest rate, currency, and index markets. These strategies can be employed either defensively (as hedges) or as directional bets. This broader mandate was designed to provide greater versatility in portfolio management, allowing the team to increase or reduce risk exposure depending on the market outlook. Therefore, the fund’s volatile (or non-volatile) character is not permanent, as it can adopt defensive positions or neutralize market risks entirely, depending on the management team’s view at the time.
The Long Only funds (Alaska Institucional FIA and Pension funds), in turn, follow a traditional long-only mandate. They must always maintain a minimum exposure of 67% to equities and have no exposure to other asset classes, derivatives, or leverage. As a result, their behavior and volatility are more closely correlated with the main equity indices compared to the Alaska Black FIC FIA – BDR Level I and Alaska Black FIC FIA II – BDR Level I funds.
We recommend our funds as investments for the very long term.
Only the Alaska Black FIC FIA and Alaska Black FIC FIA II may use leverage in equities; it is prohibited for the other funds. For all funds, we limit active exposure to a single stock to 15%, which may passively increase up to 18%. There is a possibility of one exceptional case—subject to approval by the investment committee—where limits may be raised to 20% actively and up to 24% passively. The exception applies to the pension funds, which, due to regulatory requirements, may have a maximum exposure limit of 15% per stock.
Check the redemption periods and the characteristics of our investment funds here.
The Alaska Black and Alaska Institucional Long Only funds offer the possibility of early redemption. The early redemption fee is charged on the total redemption amount for clients who request settlement before the standard redemption period (D+30/D+2). The 5% fee is paid to the fund.
The funds’ quotas are valued daily after the close of the markets in which they operate; therefore, returns are subject to daily fluctuations.
The existence of daily quotas allows the performance of the investment funds to be calculated over any period, starting from the initial investment.
The historical quota values of the funds can be found on the website of the Brazilian Securities and Exchange Commission (CVM) at the following link.
You need to enter the fund’s name, click “Continue,” and then go to the “Daily Data” section.
Qualified investors are defined as:
I – individuals or legal entities with financial investments exceeding R$ 1,000,000.00 (one million reais) who additionally declare in writing their status as qualified investors;
II – individuals who have passed technical qualification exams or hold certifications approved by the CVM as requirements for registration as investment advisors, portfolio managers, analysts, or securities consultants, with respect to their own resources;
III – professional investors;
IV – investment clubs, provided their portfolio is managed by one or more members who are qualified investors. The fund’s objectives, risk factors, and investment policy are available in its bylaws.
It is essential that investors carefully read the prospectus and the fund’s bylaws before investing their resources.
