The fund sells malls and outlets, with stakes in Iguatemi Alphaville in Barueri (SP), Midway Mall in Natal (RN), Parque Dom Pedro in Campinas (SP) and I Fashion in Novo Hamburgo (RS). Tenants include Zara, C&A and Cinépolis. The main risk is sectoral cyclicality, as revenue depends on household consumption and shopkeepers' default. Its differential is geographical diversification focused on minority shares in dominant malls.