I only have $50 to invest.  What are the best fixed income options?

I only have $50 to invest. What are the best fixed income options?

With the high interest rate scenario, it doesn’t take long for the investor to take most of the assets out of variable income and apply it to fixed income. This movement is common in the market. But are there options for up to R$50? What are they?

When thinking of fixed income, Brazilians immediately think of Treasury Direct. And with the Selic rate at 13.25% per year, on an upward trend, the modality is, in fact, a good opportunity. But it’s not the only one. Check out the tips from analysts consulted by UOL.

Direct Treasure Ouro Preto Investimentos analyst Bruno Komura says that, although the options for R$ 50 in fixed income are more limited, it is possible to find alternatives.

Among them, the Tesouro Direto itself, both in fixed-rate (in which the remuneration is defined at the time of the contribution) and post-fixed (in which the investor receives a fixed rate plus the variation of the Selic or inflation, for example). These assets have a minimum investment.

On the Treasury Direct website, investors will find the following options:

Fixed-rate Treasury – maturity for January 2025

  • Minimum investment: BRL 37.26
  • Remuneration: 12.91% per year.

Fixed-rate Treasury – maturity for January 2029

  • Minimum investment: BRL 37.26
  • Remuneration: 13.05% per year.

Treasury IPCA – maturity for August 2026

  • Minimum investment: BRL 31.40
  • Remuneration: IPCA + 6.08% per year.

Treasury IPCA – maturity for May 2035

  • Minimum investment: BRL 37.03
  • Remuneration: IPCA + 6.20% per year.

Funds and CBDs Komura also mentions fixed income investment funds and CDBs (Bank Deposit Certificates), in which the person makes a kind of loan so that the financial institution can finance itself.

However, CDBs and funds have similar profitability to Treasury Direct, since they follow the variation of the CDI (Interbank Deposit Certificate) — the logic is the same as the CDB, but for operations between financial institutions. Normally, the CDI is 0.10 percentage points below the Selic. Therefore, today it is at 13.15% per year.

As well as private fixed income securities, such as LCIs (Imobiliary Letter of Credit) and LCAs (Agribusiness Letter of Credit), which help to finance the respective sectors, the problem with CDBs and funds is that the minimum contribution of the majority of available investments is well above R$50.

There are some CBDs available at lower prices. But beware of liquidity, many only allow redemption on the due date. Below are some of the options available on the market.

Banco Voiter – maturity in 287 calendar days

  • Minimum investment: R$ 1.13.
  • Remuneration: IPCA + 8.3%
  • Liquidity: only on maturity date.

Banco BMG – maturity in 318 calendar days

  • Minimum investment: R$ 1.70.
  • Remuneration: IPCA + 8%
  • Liquidity: only on expiration date

paybank

  • Minimum investment: BRL 1
  • Remuneration: 110% of CDI
  • Liquidity: daily

Itaú – maturity in 1,800 days

  • Minimum investment: BRL 1
  • Remuneration: 100% of CDI
  • Liquidity: daily

When can I withdraw the money? Pay attention to redemption deadlines. At Tesouro Direto, liquidity is daily, that is, the person receives the funds on the same day, if the request occurs before 1 pm (on business days), and on the following day, for requests after that time.

However, this dynamic is different for CBDs. Money can be blocked for withdrawal for one or more years or have daily liquidity. Therefore, it is important to carefully choose the best alternative.

Is it necessary to pay Income Tax? The CEO of Box Asset Management, Fabrício Gonçalvez, says that CDBs and Treasury Direct have regressive taxation for the collection of Income Tax. For redemptions up to 180 days (six months), the investor pays 22.5% of the yield. From this period onwards, taxation falls regressively until it reaches 15%, for redemptions over 720 days.

In the case of LCIs and LCAs, they are exempt from paying IR. Gonçalvez also says that investments in fixed income may have bank or brokerage fees.

What is the outlook for fixed income? Experts say fixed income should remain attractive in the coming months. That’s because the Central Bank (BC) should continue to raise interest rates – a movement that started in early 2021, when the Selic was at 2%.

Like most analysts, Komura understands that Bacen will raise the rate by 0.50 percentage points, to 13.75% per year. “The Central Bank should leave it open for more hikes,” he says. There are analysts who consider interest at 14.25% per year in December.

In the latest Focus bulletin, a report that includes the opinion of economists from financial institutions, the BC estimates the Selic rate at precisely 13.75% for 2022. For 2023, the outlook is for the rate to reach 10.75% per year — which still makes fixed income attractive.

How to invest? To make investments in government bonds, investors can use the Treasury Direct website. In the fixed income area on broker platforms, however, there is a wider range of products, such as CDBs, LCIs, LCAs and investment funds.

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