Paper FII managed by Fator that invests in IPCA-indexed CRIs with debtors in construction, food, logistics, electricity and retail, such as Assaí, BRF, Arteris and Grupo Mateus. The core risk is credit: part of the portfolio includes default or arbitration transactions, such as Fragnani and Anhanguera's CRIs. The difference is extreme diversification — over 60 CRIs active in different sectors and regions of Brazil, complemented by positions in paper FIIs.