{"id":5170,"date":"2023-11-30T15:25:43","date_gmt":"2023-11-30T18:25:43","guid":{"rendered":"https:\/\/artica.capital\/clairfield-pilulas\/overview-fiagros\/"},"modified":"2026-09-29T11:59:32","modified_gmt":"2026-09-29T14:59:32","slug":"overview-fiagros","status":"publish","type":"pilulas","link":"https:\/\/artica.capital\/en\/clairfield-pilulas\/overview-fiagros\/","title":{"rendered":"Overview Fiagros"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Os Fiagros representam uma inova\u00e7\u00e3o no mercado financeiro brasileiro. Criados em mar\u00e7o de 2021, seu objetivo \u00e9 estreitar os la\u00e7os entre o agroneg\u00f3cio e o mercado de capitais.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Atualmente, esse mercado tem mais de 90 fundos, contabilizando um patrim\u00f4nio l\u00edquido somado de R$ 16,7 bilh\u00f5es, com investimentos dominados por pessoas f\u00edsicas.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Essa forma inovadora de investimento, cria uma fonte de recursos para as empresas do setor agr\u00edcola, trazendo consigo consequ\u00eancias positivas. Estas incluem a diversifica\u00e7\u00e3o das fontes de financiamento, e uma alternativa valiosa para empresas com classifica\u00e7\u00e3o de cr\u00e9dito baixa, incapazes de obter empr\u00e9stimos banc\u00e1rios tradicionais. Al\u00e9m disso, essa modalidade aumenta a competi\u00e7\u00e3o por cr\u00e9dito, podendo resultar na redu\u00e7\u00e3o das taxas de juros praticadas no setor.<\/p>\n\n\n\n<!-- pilula-html v1 -->\n<style>\n.pil{--navy:#2d3a51;--blue:#4f6388;--light:#8599b9;--pale:#e8ebf1;--card:#d3d9e3;--red:#c0272d;--txt:#333;font-family:\"Merriweather Sans\",sans-serif;color:var(--txt);margin-top:40px}\n.pil *{box-sizing:border-box}\n.pil img{max-width:100%;height:auto;display:block}\n.pil-sec{margin:0 0 56px}\n.pil-sec h2{background:var(--navy);color:#fff;font-size:19px;line-height:1.35;font-weight:700;padding:16px 20px;border-radius:0 0 28px 0;margin:0 0 20px;text-wrap:balance}\n.pil-sub{font-size:14px;font-weight:700;color:var(--navy);border-bottom:2px solid var(--navy);padding-bottom:6px;margin:0 0 16px;display:flex;justify-content:space-between;gap:12px;align-items:flex-end}\n.pil-tag{color:var(--red);border-top:2px solid var(--red);border-bottom:2px solid var(--red);font-size:12px;padding:2px 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var(--light);padding-left:18px;margin-left:6px}\n.pil-time>div{position:relative;font-size:14px;line-height:1.5}\n.pil-time>div::before{content:\"\";position:absolute;left:-25px;top:5px;width:12px;height:12px;border-radius:50%;background:var(--navy)}\n.pil-time b.y{display:block;color:var(--light);font-size:16px;font-weight:800}\n\/* figuras (recortes do slide) *\/\n.pil-fig{margin:0}\n.pil-fig figcaption{text-align:center;font-weight:800;color:var(--light);font-size:16px;margin-top:4px}\n.pil-brand{background:var(--card);border-radius:14px;overflow:hidden}\n.pil-brand p{margin:0;text-align:center;font-size:20px;font-weight:800;font-style:italic;color:var(--navy);padding:10px 0 12px}\n@media (max-width:700px){\n  .pil-grid2,.pil-grid2.wide-left,.pil-grid2.wide-right{grid-template-columns:1fr}\n  .pil-grid3,.pil-grid4,.pil-grid5{grid-template-columns:1fr 1fr}\n  .pil-sec h2{font-size:17px}\n  .pil-bars{height:180px}\n  .pil-bars>div>span{font-size:10px}\n  .pil-years{font-size:9px}\n}\n@media (max-width:480px){\n  .pil-bars{gap:1.2%}\n  .pil-years{gap:1.2%;font-size:8px}\n  .pil-bars>div>span{font-size:8px;letter-spacing:-.3px}\n  .pil-bars:has(>div:nth-child(13))>div>span{writing-mode:vertical-rl;transform:translateX(-50%) rotate(180deg);top:auto;bottom:100%;padding-bottom:2px}\n  .pil-years:has(>span:nth-child(13)) span{writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto}\n}\n<\/style>\n<div class=\"pil\">\n\n<section class=\"pil-sec\">\n  <h2><i>O que s\u00e3o Fiagros?<\/i><\/h2>\n  <div class=\"pil-sub\">Fundo de Investimento em Cadeias Agroindustriais<\/div>\n  <ul class=\"pil-list\">\n    <li>Criado em <b>mar\u00e7o de 2021 <\/b>por meio da Lei n\u00b0 14.130<\/li>\n    <li>Objetivo \u00e9 <b>trazer o setor agr\u00edcola para mais pr\u00f3ximo do mercado de capitais<\/b><\/li>\n    <li>Estrutura similar aos fundos de investimentos imobili\u00e1rios (FIIs), entretanto buscam ter <b>maior flexibilidade<\/b><\/li>\n  <\/ul>\n  <p class=\"pil-p\" style=\"margin-top:20px\"><b>Um Fiagro pode investir nos seguintes tipos de ativos:<\/b><\/p>\n  <div style=\"display:grid;gap:10px\">\n    <div class=\"pil-card tint\">Im\u00f3veis rurais<\/div>\n    <div class=\"pil-card tint\">T\u00edtulos de cr\u00e9dito, ativos financeiros ou valores mobili\u00e1rios destinados a cadeias agroindustriais<\/div>\n    <div class=\"pil-card tint\">Direitos credit\u00f3rios do agroneg\u00f3cio<\/div>\n    <div class=\"pil-card tint\">Participa\u00e7\u00f5es em sociedades com atividades na cadeia agroindustrial<\/div>\n    <div class=\"pil-card tint\">Fundos de investimento que invistam +50% do patrim\u00f4nio em qualquer um dos ativos apontados<\/div>\n  <\/div>\n  <div class=\"pil-src\">Fonte: An\u00e1lise \u00c1rtica; Anbima; B3.<\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2><i>Tipos de Fiagro<\/i><\/h2>\n  <div class=\"pil-sub\">Existem 3 categorias de Fiagros<\/div>\n  <div style=\"display:grid;gap:12px\">\n    <div class=\"pil-card\" style=\"display:flex;gap:14px;align-items:center\"><b style=\"flex:none;width:40px;height:40px;border-radius:50%;background:var(--navy);color:#fff;font-size:18px;display:flex;align-items:center;justify-content:center\">1<\/b><div><h3 style=\"margin:0 0 2px\">Imobili\u00e1rios (Fiagro-FII)<\/h3>Investimento no setor imobili\u00e1rio ligado ao agroneg\u00f3cio;<br>Im\u00f3veis f\u00edsicos ou t\u00edtulos de cr\u00e9dito ligados a im\u00f3veis<\/div><\/div>\n    <div class=\"pil-card\" style=\"display:flex;gap:14px;align-items:center\"><b style=\"flex:none;width:40px;height:40px;border-radius:50%;background:var(--blue);color:#fff;font-size:18px;display:flex;align-items:center;justify-content:center\">2<\/b><div><h3 style=\"margin:0 0 2px\">Participa\u00e7\u00f5es (Fiagro-FIP)<\/h3>Compra de participa\u00e7\u00f5es em empresas agr\u00edcolas<\/div><\/div>\n    <div class=\"pil-card\" style=\"display:flex;gap:14px;align-items:center\"><b style=\"flex:none;width:40px;height:40px;border-radius:50%;background:var(--card);color:var(--txt);font-size:18px;display:flex;align-items:center;justify-content:center\">3<\/b><div><h3 style=\"margin:0 0 2px\">Direitos Credit\u00f3rios (Fiagro-FIDC)<\/h3>Investimento em direitos credit\u00f3rios ligados ao agroneg\u00f3cio<\/div><\/div>\n  <\/div>\n  <div class=\"pil-tw\" style=\"margin-top:20px\">\n    <table class=\"pil-table\">\n      <thead><tr><th><\/th><th class=\"n\">Fiagro-FII<\/th><th class=\"n\">Fiagro-FIP<\/th><th class=\"n\">Fiagro-FIDC<\/th><\/tr><\/thead>\n      <tbody>\n        <tr><td><b>Quantidade de fundos<\/b><\/td><td class=\"n\">74 (80%)<\/td><td class=\"n\">1 (1%)<\/td><td class=\"n\">18 (19%)<\/td><\/tr>\n        <tr><td><b>Patrim\u00f4nio l\u00edquido<\/b><\/td><td class=\"n\">R$ 13,8 Bi (82%)<\/td><td class=\"n\">R$ 0,2 Bi (1%)<\/td><td class=\"n\">R$ 2,8 Bi (16%)<\/td><\/tr>\n      <\/tbody>\n    <\/table>\n  <\/div>\n  <div class=\"pil-src\">Fonte: An\u00e1lise \u00c1rtica; Anbima; B3.<\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2><i>Os Fiagros brasileiros somam R$ 16,7 Bi de patrim\u00f4nio l\u00edquido, com 93 fundos ativos<\/i><\/h2>\n  <div class=\"pil-sub\">Volume mensal de emiss\u00f5es de Fiagros e n\u00fameros de fundos<\/div>\n  <div style=\"display:flex;justify-content:space-between;align-items:flex-start;gap:10px;flex-wrap:wrap\"><span class=\"pil-unit\">R$ MM; #<\/span><span class=\"pil-legend\"><span><i style=\"background:var(--blue)\"><\/i>Fiagro-FII<\/span><span><i style=\"background:var(--light)\"><\/i>Fiagro-FIDC<\/span><span><i style=\"background:var(--card)\"><\/i>Fiagro-FIP<\/span><\/span><\/div>\n  <p class=\"pil-p\" style=\"font-size:12px;margin:10px 0 2px;color:#666\">N\u00famero de fundos (#)<\/p>\n  <div class=\"pil-years\" style=\"font-weight:700;font-size:13px;color:#666\"><span>1<\/span><span>10<\/span><span>17<\/span><span>26<\/span><span>39<\/span><span>50<\/span><span>65<\/span><span>78<\/span><span>93<\/span><\/div>\n  <div class=\"pil-bars\" style=\"margin-top:6px\" role=\"img\" aria-label=\"Volume de emiss\u00f5es de Fiagros por trimestre, em R$ milh\u00f5es (total; Fiagro-FII + Fiagro-FIDC + Fiagro-FIP): 3T21 42 (42); 4T21 1.188 (1.131 + 57); 1T22 1.885 (1.573 + 311); 2T22 1.239 (1.148 + 91); 3T22 1.760 (1.519 + 241); 4T22 2.380 (2.380); 1T23 3.255 (2.664 + 589 + 2); 2T23 1.470 (1.354 + 115); 3T23 2.450 (2.213 + 237). N\u00famero de fundos: 1; 10; 17; 26; 39; 50; 65; 78; 93\">\n    <div style=\"height:1.3%;background:var(--blue)\"><span>42<\/span><\/div>\n    <div style=\"height:36.5%;background:none;display:flex;flex-direction:column-reverse\"><span>1.188<\/span><div style=\"height:95.2%;background:var(--blue);color:#fff;display:flex;align-items:center;justify-content:center;font-size:11px\">1.131<\/div><div style=\"height:4.8%;background:var(--light)\"><\/div><\/div>\n    <div style=\"height:57.9%;background:none;display:flex;flex-direction:column-reverse\"><span>1.885<\/span><div style=\"height:83.5%;background:var(--blue);color:#fff;display:flex;align-items:center;justify-content:center;font-size:11px\">1.573<\/div><div style=\"height:16.5%;background:var(--light);display:flex;align-items:center;justify-content:center;font-size:11px\">311<\/div><\/div>\n    <div style=\"height:38.1%;background:none;display:flex;flex-direction:column-reverse\"><span>1.239<\/span><div style=\"height:92.7%;background:var(--blue);color:#fff;display:flex;align-items:center;justify-content:center;font-size:11px\">1.148<\/div><div style=\"height:7.3%;background:var(--light)\"><\/div><\/div>\n    <div style=\"height:54.1%;background:none;display:flex;flex-direction:column-reverse\"><span>1.760<\/span><div style=\"height:86.3%;background:var(--blue);color:#fff;display:flex;align-items:center;justify-content:center;font-size:11px\">1.519<\/div><div style=\"height:13.7%;background:var(--light);display:flex;align-items:center;justify-content:center;font-size:11px\">241<\/div><\/div>\n    <div style=\"height:73.1%;background:var(--blue);color:#fff;display:flex;align-items:center;justify-content:center;font-size:11px\"><span style=\"color:var(--txt)\">2.380<\/span>2.380<\/div>\n    <div style=\"height:100%;background:none;display:flex;flex-direction:column-reverse\"><span>3.255<\/span><div style=\"height:81.8%;background:var(--blue);color:#fff;display:flex;align-items:center;justify-content:center;font-size:11px\">2.664<\/div><div style=\"height:18.1%;background:var(--light);display:flex;align-items:center;justify-content:center;font-size:11px\">589<\/div><div style=\"height:0.4%;background:var(--card)\"><\/div><\/div>\n    <div style=\"height:45.2%;background:none;display:flex;flex-direction:column-reverse\"><span>1.470<\/span><div style=\"height:92.1%;background:var(--blue);color:#fff;display:flex;align-items:center;justify-content:center;font-size:11px\">1.354<\/div><div style=\"height:7.9%;background:var(--light)\"><\/div><\/div>\n    <div style=\"height:75.3%;background:none;display:flex;flex-direction:column-reverse\"><span>2.450<\/span><div style=\"height:90.3%;background:var(--blue);color:#fff;display:flex;align-items:center;justify-content:center;font-size:11px\">2.213<\/div><div style=\"height:9.7%;background:var(--light);display:flex;align-items:center;justify-content:center;font-size:11px\">237<\/div><\/div>\n  <\/div>\n  <div class=\"pil-years\"><span>3T21<\/span><span>4T21<\/span><span>1T22<\/span><span>2T22<\/span><span>3T22<\/span><span>4T22<\/span><span>1T23<\/span><span>2T23<\/span><span>3T23<\/span><\/div>\n  <p class=\"pil-p\" style=\"font-size:12px;margin:10px 0 2px;color:#666\">Fiagro-FIDC<\/p>\n  <div class=\"pil-years\"><span><\/span><span>57<\/span><span>311<\/span><span>91<\/span><span>241<\/span><span><\/span><span>589<\/span><span>115<\/span><span>237<\/span><\/div>\n  <p class=\"pil-p\" style=\"font-size:12px;margin:10px 0 2px;color:#666\">Fiagro-FIP<\/p>\n  <div class=\"pil-years\"><span><\/span><span><\/span><span><\/span><span><\/span><span><\/span><span><\/span><span>2<\/span><span><\/span><span><\/span><\/div>\n  <div class=\"pil-src\">Fonte: An\u00e1lise \u00c1rtica; Anbima.<\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2><i>Os Fiagros brasileiros somam R$ 16,7 Bi de patrim\u00f4nio l\u00edquido, com 93 fundos ativos<\/i><\/h2>\n  <div class=\"pil-sub\">Evolu\u00e7\u00e3o do patrim\u00f4nio l\u00edquido dos Fiagros no Brasil<\/div>\n  <span class=\"pil-unit\">R$ Bi<\/span>\n  <img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5170-pl.png\" alt=\"Gr\u00e1fico de linha do patrim\u00f4nio l\u00edquido dos Fiagros, em R$ bilh\u00f5es: Sep\/21 0,5; Dec\/21 1,8; Mar\/22 3,3; Jun\/22 5,2; Sep\/22 6,7; Dec\/22 10,7; Mar\/23 11,9; Jun\/23 14,1; Sep\/23 16,7\" loading=\"lazy\" style=\"margin-top:6px\">\n  <div class=\"pil-sub\" style=\"margin-top:24px\"><span>Patrim\u00f4nio l\u00edquido dos maiores Fiagros<sup>(1)<\/sup><\/span><\/div>\n  <div class=\"pil-grid3\">\n    <div class=\"pil-card tint\" style=\"text-align:center\"><h3 style=\"margin:0\">KNCA11<\/h3><b>R$ 2,2 BI<\/b><\/div>\n    <div class=\"pil-card tint\" style=\"text-align:center\"><h3 style=\"margin:0\">RURA11<\/h3><b>R$ 1,6 BI<\/b><\/div>\n    <div class=\"pil-card tint\" style=\"text-align:center\"><h3 style=\"margin:0\">XPAG11<\/h3><b>R$ 1,4 BI<\/b><\/div>\n    <div class=\"pil-card tint\" style=\"text-align:center\"><h3 style=\"margin:0\">VGIA11<\/h3><b>R$ 820 MM<\/b><\/div>\n    <div class=\"pil-card tint\" style=\"text-align:center\"><h3 style=\"margin:0\">KJNT11<\/h3><b>BRL 670 MM<\/b><\/div>\n    <div class=\"pil-card tint\" style=\"text-align:center\"><h3 style=\"margin:0\">RZAG11<\/h3><b>BRL 650 MM<\/b><\/div>\n  <\/div>\n  <div class=\"pil-src\">Notas: (1) Considera dados de setembro de 2023<br>Fonte: An\u00e1lise \u00c1rtica; Anbima<\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2><i>Vantagens do Fiagro para empresas agro<\/i><\/h2>\n  <div class=\"pil-sub\">O Friagro permite que pessoas f\u00edsicas invistam no agroneg\u00f3cio<\/div>\n  <ul class=\"pil-list\">\n    <li>Em 2023, 81% das emiss\u00f5es de Fiagro foram distribu\u00eddas para Pessoas F\u00edsicas<\/li>\n    <li>Esse canal implica em um maior volume de dinheiro para o financiamento agro<\/li>\n  <\/ul>\n  <p class=\"pil-p\" style=\"margin-top:20px\"><b>Criando uma solu\u00e7\u00e3o alternativa ao financiamento banc\u00e1rio:<\/b><\/p>\n  <div style=\"display:grid;gap:10px\">\n    <div class=\"pil-card tint\">Diversifica\u00e7\u00e3o de fontes de financiamento<\/div>\n    <div class=\"pil-card tint\">Alternativa para ativos com baixo rating de cr\u00e9dito<\/div>\n    <div class=\"pil-card tint\">Aumento da competi\u00e7\u00e3o \u2013 redu\u00e7\u00e3o do custo de cr\u00e9dito<\/div>\n  <\/div>\n  <div class=\"pil-box\" style=\"margin-top:20px\">\n    <h3>Spread m\u00e9dio de \u201cFiagros de papel<sup>(1)<\/sup>\u201d<\/h3>\n    <div class=\"pil-stat\"><strong><small>CDI + 5,0%<sup>(2)<\/sup><\/small><\/strong><\/div>\n  <\/div>\n  <div class=\"pil-src\">Notas: (1) Fiagros que investem em t\u00edtulos de d\u00edvida lastreados em im\u00f3veis (2) Considera spread m\u00e9dio da carteira de 20 Fiagros<br>Fonte: An\u00e1lise \u00c1rtica; Relat\u00f3rio de fundos.<\/div>\n<\/section>\n\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Fiagros represent an innovation in the Brazilian financial market. Created in March 2021, their goal is to strengthen ties between agribusiness and the capital markets.<\/p>","protected":false},"author":1,"featured_media":5164,"template":"","meta":[],"class_list":["post-5170","pilulas","type-pilulas","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/pilulas\/5170","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/pilulas"}],"about":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/types\/pilulas"}],"author":[{"embeddable":true,"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/users\/1"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/media\/5164"}],"wp:attachment":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/media?parent=5170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}