FREQUENTLY ASKED QUESTIONS
Get answers to questions and learn more about what we do and how we do it.
In theory, it is possible to invest directly through Alaska, but we always encourage our investors to use one of our partners. Our customer base has grown substantially, and due to factors involving legal compliance and infrastructure, we have opted not to operate as a distributor. To invest in our funds, simply open an account on the platform of our administrator, at: https://www.btgpactualdigital.com/digital/#!/registrar?assessor=282477, or at any distributor that offers our funds on their investment platforms. To see a list of our distributors, click here.
Alaska Black FIC FIA – BDR Nível I is for qualified investors*, requires a minimum investment of R$5,000.00 and adopts the benchmark of IPCA + 6% p.a. Meanwhile, Alaska Black FIC FIA II – BDR Nível I is for general investors, requires a minimum investment of R$1,000.00, adopts the benchmark of the Bovespa Index (Ibovespa) and limits investment to a maximum of R$250,000 per Individual Tax ID (CPF).
The portfolio compositions and investment strategies of both funds are identical, since they are both fund of funds (FIC) structures that invest in Alaska Black Master FIA BDR Nível I.
The difference in performance between the funds is explained by the calculation of performance due to the different benchmarks.
(*) Qualified investors are individuals or legal entities with financial investments equal to or greater than R$ 1 million.
The funds of the Alaska Black FIC FIA family have portfolios that may be composed of stocks, BDRs and interest rate, U.S. dollar and index instruments. Meanwhile, Alaska Black Institucional FIA is a traditional stock fund, with a minimum allocation of 67% in stocks, without any interest rate, U.S. dollar or BDR operations. For this reason, the funds may present very different returns over longer periods.
The investment funds Alaska Black FIC FIA – BDR Nível I and Alaska Black FIC FIA II – BDR Nível I have a broader mandate than traditional equity investment funds, since they are able to operate in interest rate, currency and index markets.
The currency and interest strategies may be used either defensively (as hedge) or as directional investments, while indexes may be used only to reduce net stock exposure. We do not leverage positions in shares. The aforementioned mandate was established to afford greater versatility to the fund’s management, which may increase or decrease the portfolio’s risk exposure in accordance with the scenario expected by the management team.
As such, we emphasize that the fund’s volatile (or non-volatile) approach is not permanent, and that the fund many adopt defensive positions.
Meanwhile, the funds Alaska Black Institucional FIA and Alaska 70 Icatu Prev FIM are equity funds with traditional mandates and no exposure to other asset classes. This means that their behavior is more correlated to the main equity indexes compared to the fund Alaska Black FIC FIA – BDR Nível I.
Given the requirement to maintain a minimum stock exposure of 67% (70% in the case of Alaska 70 Icatu Prev FIM), the fund has fewer defensive options in the case of an extended downturn in the equity market. In any case, we recommend our funds for very long investment horizons.
No. Our funds operate with gross stock exposure limits of 100%. Moreover, we limit the exposure per share to 15% of active exposure, which may passively rise to 18%. Special cases, registered in the committee, could have limits increased to 20% and 24%, respectively.
The redemption terms of Alaska funds range from 15 to 30 calendar days, calculated as from the day after confirmation of the redemption request. During this period, the customer is still subject to the variation in the shares, with the final redemption amount determined at the end of the term. Once the redemption term expires, financial settlement occurs after 2 business days.
The early redemption fee is charged on the total redemption amount in the case of customers who request settlement prior to the term established by the fund. This amount is reverted to the fund and not to the fund manager, in order to protect the fund investors.
In accordance with the regulations in force, the price of the shares issued must be calculated daily, therefore, returns are subject to daily fluctuations.
The existence of daily share prices enables the return of the investment funds to be calculated for any period as from the initial investment.
The fund’s historical prices can be found on the website of the Securities and Exchange Commission of Brazil (CVM) at following link.
Just enter the name of the fund, click on continue and go to the section “Daily Data.”