Vinci Shopping Centers FII is a Real Estate fund advised by Vinci Real Estate Gestora de Recursos Ltda. The Fund seeks to generate returns by investing directly or indirectly in income-producing real estate, with a primary focus on shopping centers, as well as through capital gains from the purchase and sale of such assets. The Fund’s growth strategy is centered on investing in finished properties, and the it does not intend to invest in greenfield shopping mall projects. However, the Fund may seek to remodel, expand or otherwise improve its real estate assets, with the goal of improving such assets’ commercial performance or increasing potential gains from the sale of such assets in the future.
|Fund Name||Vinci Shopping Centers Fundo de Investimento Imobiliário – FII|
|Investment Advisor||Vinci Real Estate Gestora de Recursos Ltda|
|Administrator||BRL Trust Distribuidora de Títulos e Valores Mobiliários S.A.|
|Bookkeeper||Itaú Corretora de Valores S.A.|
|Market Maker||XP Investimentos Corretora de Câmbio Títulos e Valores Mobiliários S.A.|
|ANBIMA Classification||FII Renda Gestão Ativa – Segmento de Atuação: Shopping Centers|
|Number of Shares||3,215,033|
|Administration Fee||The Advisor will receive a fixed and annual remuneration equivalent to 1.35% (one and thirty-five hundredths percent) per year on the Market Value, subject to the minimum amount of R$15,000.00 (fifteen thousand reais) per month, plus an additional amount of R$50,000.00 (fifty thousand reais) per month for the provision of management and bookkeeping services of Shares, provided that (i) the minimum amount per month will be annually updated, as of the date of the start of the Fund’s activities, by the positive variation of the IPCA, assessed and disclosed by the Brazilian Institute of Geography and Statistics.|
|Advisor Compensation||For the provision of management services, the Advisor will be entitled to a remuneration corresponding to the difference between (i) the Management Fee and (i) the remuneration due to the Management and the amount equivalent to 50% (fifty percent) of the costs due to the provider of the bookkeeping services of the Fund’s shares:
|Monthly Fees and
|From January 2018 to December 2019, the Advisor, at its discretion, will not fully receive the portion of the management fee to which it is entitled due to the management position, if the monthly income distributed to the shareholders of the Fund does not reach the amount of R$0.6042 per share (1/12 of the annual income of R$7.25 per share), observing that:
a) at the end of 2018 and 2019, if (i) the income distributed by the Fund in the following years exceeds R$7.25 per share and (ii) if the Advisor has received a compensation below the amount to which it is entitled, the Fund will pay to the Management the amount of the management fee that was not paid during the respective year, provided that the annual income per share, after paying the due management fee, is not less than R$7.25; or
b) at the end of 2018 and 2019, if (i) the income distributed by the Fund in the following years is below R$7.25 per share and (ii) if the Advisor has received the Fund’s management fee concerning the same period, the Advisor will return to the Fund, limited to the total amount received in the respective year, the amount necessary for the annual income per share, after returning the remuneration, to be R$7.25.
As of January 2020, the portion of the management fee entitled to the Advisor will be charged at the originally established amount.
THE AMOUNTS DESCRIBED ABOVE DO NOT REPRESENT AND SHOULD NOT BE TAKEN INTO CONSIDERATION, AT ANY MOMENT AND UNDER ANY EVENT, AS A PROMISSE, GUARANTEE OR SUGGESTION OF FUTURE PROFITABILITY.