VARIABLE INCOME
Performance | Sub-portfolios | Movements| Dividends
Variable income investments are in sub-portfolios

In order to provide better quality in the management of the resources, Variable income portfolio is divided in sub-portfolios. The strategy facilitates follow-up of variables related to liquidity and governance, for example.

Own Portfolio

Interest Portfolio

It contemplates assets in which PREVI has interest in the control block. These resources represent 42.3 % of the segment of Variable income and remain constant in the course of the fiscal year, as the main assets are reassessed annually. The profitability of this portfolio was 55.8 %. Litel, through which PREVI participates of CVRD (Vale do Rio Doce Company), 521 Participações and Neoenergia represent approximately 38 % of this portfolio and paid R$ 904,7 million in dividends and interest on equity capital. The economic reassessment of these assets produced in this year an equity variation of R$ 8.4 billion.

Portfolio Restructuring

The profitability of 98.2 % of Usiminas ON, with 24 % of interest, influenced strongly the performance of the portfolio. Share profitability of Bradesco ON (34.9 %) and WEG PN (88.9 %), assets with expressive representation, also contributed to the performance of the portfolio.

Market Portfolio

Market-leading companies with good perspectives of return, risk, liquidity and payment of dividends. R$ 32.1 billion, 46.4 % of the resources of Variable income, are in this portfolio. They are resources invested in companies like Petrobras, Banco do Brasil, Ambev and Embraer. This portfolio reached 40.3 % of profitability, also superior to IBrX-50.

Special Management Portfolio

Company securities that do not fit in other portfolios. With resources worth R$ 591.5 million, 0.9 % of the Variable income total. The profitability of this portfolio was 74.5 %.

Nilton de Souza

Itapebi Hydroelectric Plant: companies from the electric power sector provided more than R$ 500 million in Dividends.

Third Party Portfolio

It is composed mainly of securities for short term operations (Alpargatas, Marisol and Alfa, for example), and management instruments via investment funds (BB Price Shares, FIEE, Fund Infra Brasil, among others). Altogether, R$ 669.2 million are allocated in this portfolio, which represent 1 % of the Variable income assets.

PREVI proceeded with the selection process of private equity and venture capital funds. As a consequence selection process of two private equity funds was completed. PREVI subscribed R$ 90 million in shares of InfraBrasil fund and R$ 60 million in shares of Logística Brasil fund.

Partnership with Finep

Aiming to stimulate companies focused on innovative projects with high potential of return, PREVI, Petros, Funcef and other investors became partners of the Inovar Fund Incubator, created by Studies and Projects Financing Agency (Finep), institution connected with the Ministry of Sciences and Technology. The function of the Incubator is to create a favorable environment so that investors can analyse and select which investment funds they will invest in these projects, which are known in the market as venture capital funds (entrepreneurial capital).