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As 2024 approaches, investors throughout Brazil are looking for the best options for investing their money. With the expectation of further cuts to the Selic rate, the investment landscape is changing. Previously, with the Selic at around 13.75% per month, it was possible to achieve more than 1% in monthly returns. However, with the Selic expected to fall to 9.25% by the end of 2024, investors need to adapt their strategies to maintain the returns on their portfolios.
In this context, income tax-exempt securities emerge as an attractive option. These include Real Estate Credit Bills (LCI), Agribusiness Credit Bills (LCA), Real Estate Receivables Certificates (CRI), Agribusiness Receivables Certificates (CRA), and incentivized debentures. Each of these instruments offers unique characteristics and tax benefits that can be especially advantageous in an environment of lower interest rates.
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Risks and rewards of investing in income tax-exempt securities
When considering income tax-exempt investments in 2024, it is crucial to understand the associated risks and rewards. LCI and LCA, for example, are covered by the Credit Guarantee Fund (FGC), offering security of up to R$ 250,000 per CPF per financial institution. This makes them safe options within the spectrum of IR-exempt investments. On the other hand, CRI, CRA, and incentivized debentures are guaranteed by the issuing companies themselves and therefore present a higher risk of default. This additional risk is generally compensated by more attractive rates for the investor.
Investment Strategies in a Low-Interest-Rate Scenario
In a scenario of lower interest rates, investors need to be more strategic to achieve their desired monthly return. Thus, in addition to IR-exempt securities, other fixed-income options, such as Treasury securities, Bank Deposit Certificates (CDBs), and debentures, remain relevant. However, it is important to pay attention to income tax rates, which range from 22.50% for investments held for up to 180 days to 15% for investments held for more than 720 days.
Investing in 2024 will require a balanced approach, considering both security and profitability. Diversification remains a key strategy, combining different types of investments to balance risk and return. In addition, being well-informed and adapting to market changes will be essential for investment success next year.
